Seanergy Maritime (SHIP) – Fine tuning numbers as we take over coverage

Friday, May 20, 2022

Seanergy Maritime (SHIP)
Fine tuning numbers as we take over coverage

Seanergy Maritime Holdings Corp., an international shipping company, provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. The company owns a modern fleet of 11 dry bulk carriers consisting of 9 Capesizes and 2 Supramaxes with a combined cargo-carrying capacity of approximately 1,682,582 dwt and an average fleet age of 8.1 years. The company was formerly known as Seanergy Maritime Corp. and changed its name to Seanergy Maritime Holdings Corp. in January 2009. The company was founded in 2008 and is headquartered in Athens, Greece with an office in Hong Kong

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

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

We are making modest adjustments to our models as we take over research coverage of SHIP. We are lowering our TCE rate/day assumption for the 2022-1Q to $19,000 from $19,500 to reflect declines in dry bulk shipping prices at the end of the first quarter. We now project total revenues of $30.3 million and TCE revenues of $28.1 million based on 1500 operating days. We are also factoring in a $1.3 million, nonrecurring, non-cash loss as per company guidance. We  now project adjusted EBITDA for the quarter to be $13.3 million (down from $16.5 million) and adjusted net income to be $4.3 million (down from $6.0 million). The company will report results near the end of May.

Our adjustments to future quarters are less significant, rating is unchanged. We have lowered our TCE rates for the remaining quarters of the year as well. The impact on revenues, cash flow and earnings is fairly muted and does not affect our rating or overall opinion of the company. We continue to rate the shares outperform with a $1.50 per share price target. Our price target equates to a Total Enterprise Value (TEV) multiple of close to 4.0x estimated 2022 EBITDA. While the Cape market remains volatile and financial leverage remains a risk factor, we believe that SHIP is attractive due to high-operating leverage and moves to improve the capital structure. …

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. 

Is the Move Toward ESG Funds and Sustainability Fading?


Image Credit: Wallumrod (Pexels)


Sustainability and ESG Investing May Not be a Top Priority for those Hiring Portfolio Managers

A few of the winning categories in the stock market over the past two years have fallen from grace. The slide suggests that they had either been overbought or the demand changed for their products; it’s also possible they are now oversold. For example, high tech and disruptive tech were high flyers; they now are underperforming and seem to be “out of the rotation” of where investor money is flowing. Another category that saw money piling into it was ESG (Environmental, Social, Governance). This is a relatively new category that was so much in demand that many new funds were created to capitalize on the flow of cash. Many publicly traded companies even altered their business and their branding to capitalize on the expanded demand for stocks in these funds.

With the overall market declining and investors challenged to find companies on an upswing, are ESG labeled investments still getting attention?

 

ESG Scores

ESG scores are based on environmental, social, and governance factors that take into account corporate energy use, land use, emissions, employee satisfaction, business practices, and executive compensation. The popularity of funds that invest in ESG ranked companies had escalated as the new administration entered the White House in 2021. This is in part because there were big plans to recover from the pandemic-related slowdown with financial support for green or sustainable projects. ESG funds then experienced large and growing inflows of assets. With the increase in assets and a limited field of stocks to choose from, the category outperformed. As the above-average performance was recognized and reported on, it attracted more assets.

This caused companies that didn’t fit into the category to make changes that would provide them a decent ESG score. The list of acceptable companies from which fund managers can choose is still growing.  This creates a situation where there is an increasing number of names, while the amount going into these funds has slowed.

The ESG ratings themselves are provided by private companies that have earned a reputation in the business. They wield a lot of power as they dictate who can be included in a fund and who cannot. The better-known firms are MSCI (MSCI), the largest ESG rating company, Standard & Poor’s (SPGI) and Sustainalytics, owned by Morningstar (MORN). Investors, including fund managers, use these as a guide to screen stocks for inclusion in ESG and sustainable portfolios.

Performance

The year-to-date (YTD) S&P ESG Index (308 stocks) and the S&P 500 performance have tracked pretty close since the beginning of the year. There has only been a slight benefit to those earning the ESG index which is down 18.7% vs. 19.4% for the S&P 500.


Source: Koyfin

The YTD performance difference of just over 1%  represents a narrowing of the performance spread for the two indexes. As the graph below indicates since August 1, 2021, (one year after launch of the index) there is more than a 5% difference in return, favoring the ESG fund.


Source: Koyfin

Mood Change?

ESG funds and ratings have been under fire in 2022. This is in part related to the attention the Russian invasion of Ukraine brought to the category. Some critics question why ESG-labeled funds own companies such as Russia’s state-backed energy company Gazprom.

In a recent study by Seeward & Kissel they surveyed funds-of-funds, family offices, endowments, seeders, and other investors, the law firm discovered ESG considerations rank low as a priority when hiring managers. The Seeward & Kissel’s 2022 Alternative Investment
Allocator Survey
indicated, that overwhelmingly the main criteria used are investment strategies and a track record of performance.

According to the survey over 40% said ESG and investment team diversity were the least important issues when sourcing portfolio managers. A full 90% answered that investment strategy was the most important factor and track record also ranked high on the list.

Daniel Bresler, a partner at Seeward & Kissel said, “We don’t think ESG is going away anytime soon, but it has been placed on the backburner because of concerns with Ukraine and markets going crazy.” Bresler also indicated he was surprised by the results showing how low the ESG category ranked in importance.

This week’s announcement that Tesla (TSLA) was ineligible and therefore cut from the S&P DJI ESG, has also caused confusion among onlookers who viewed the electric car company as the ESG “poster child.” At the same time, the strong position of Exxon Mobil (XOM) which moved up within the same S&P index has raised questions about methodology.

 

Take-Away

ESG is maturing and will have its place. The attention it received as the Biden Administration was laying plans for greener projects while helping rebuild infrastructure provided a high level of enthusiasm for the category. The overall market has turned somewhat sour and returns are now a stronger driver than an often misunderstood ESG and sustainability category. Along with the market weakness, the nature of rewarding some companies with a high ESG score and other seemingly less destructive companies with a lower score has reduced enthusiasm.

These perceived problems are likely just part of the growing pains of a category that will likely ebb and flow as the other investment categories, sectors, and companies do.

Paul Hoffman

Managing Editor, Channelchek

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Sources

https://www.investmentnews.com/major-outflows-hit-most-asset-classes-as-recession-woes-mount-221753

https://etfdb.com/esg-channel/how-long-will-esg-funds-rake-in-capital/

https://www.buyoutsinsider.com/strategy-and-performance-outpace-esg-and-diversity-in-manager-selection-survey-finds/

https://etfgi.com/news/press-releases/2022/04/etfgi-reports-esg-etfs-listed-globally-gathered-net-inflows-7-billion

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Energy Fuels (UUUU) – Are we seeing the first signs of ramping up?

Thursday, May 19, 2022

Energy Fuels (UUUU)
Are we seeing the first signs of ramping up?

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up commercial-scale production of REE carbonate. Its corporate offices are in Lakewood, Colorado, near Denver, and all its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

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

Energy Fuels reported 2022-1Q results generally in line with expectations and gave an update on operations. Production and sales remain small (modest Vanadium sales) making bottom line results largely a function of operating costs. A slight increase in operating losses ($10.2m versus $8.8m) and net losses ($14.7m versus $10.9m) reflect additional ramp up costs for UUUU’s rare earth element (REE) development and were expected.

Development discussions were largely a repeat of the April update. But wait! A uranium supply contract?!?! Management plans to separate REE elements, efforts to access new REE supplies (Monzanite), and its medical isotope recovery partnership. This is all old news. However, management also announced on a call with investors (not in the press release) that it had just signed a uranium supply contract. This is the first contract in several years and a clear sign that the uranium market has improved to a point where UUUU may ramp up production, “perhaps as early as this summer.”…

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 – Kratos Defense, Minn-Dak Farmers Cooperative Partner to Deploy Self-Driving Trucks to Address Workforce Challenges and Improve the Supply Chain



Kratos Defense, Minn-Dak Farmers Cooperative Partner to Deploy Self-Driving Trucks to Address Workforce Challenges and Improve the Supply Chain

Research, News, and Market Data on Kratos Defense & Security Solutions

SAN DIEGO, 
May 19, 2022 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has teamed with the 
Minn-Dak Farmers Cooperative (MDFC) to launch self-driving trucks, easing the truck driver shortage burden using Kratos Autonomous Systems to ensure integrity of the agriculture supply chain as a critical national security concern.

Kratos Unmanned Systems’ core competency is affordable, disruptive, unmanned systems-related technology and products for aerial drones, surface vessels, ground-based vehicles, and related command, control, autonomy, and artificial intelligence.

The collaboration between Kratos and MDFC, one of America’s largest sugarbeet shareholder/grower cooperatives, was fostered by 
Grand Farm
, a non-profit group focused on facilitating agriculture technology innovation headquartered in 
North Dakota
 and combines Kratos’ innovative unmanned system technologies, with Minn-Dak’s agriculture and transportation expertise. The retrofitted solution adapts “Leader/Follower” truck platooning for hauling harvested sugarbeets between piling stations and the granulated sugar processing plant in 
Wahpeton, North Dakota.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/61a93c9f-9c56-41bc-a8b1-96df7f26c5c2

Maynard Factor,
VP of Business Development for the Kratos Unmanned Systems Division,
 said, “We are excited to collaborate with 
Minn-Dak to deploy driverless trucks within their sugarbeet harvest operations. Kratos develops and fields transformative, affordable systems, platforms, and products for national security, and ensuring the agriculture supply chain using driverless technology directly aligns with our core company objectives. Our focus here is on the niche, short-haul trucking routes where Kratos’ technology is available today that can solve driver shortage issues impacting agriculture hauling capacity and, therefore, the supply chain. Sugarbeet growers have been early adopters of emerging agriculture technologies, implementing now-commonplace innovations such as transitioning from rail to trucks and using GPS-guided farm equipment. We see driverless technology as a similar innovation for enhancing critical farm-related operations. Additionally, as the world advances and unmanned vehicle systems continue to solve a multitude of workforce, cost, and safety challenges, we are committed to being a significant solution provider across the spectrum of this large and growing market area.”

Self-driving truck deployments can augment the existing workforce as a tool for either increasing haul capacity to keep up with growing demand or maintaining existing haul capacity when qualified drivers are unavailable. Significant effort, cost, and planning is required to ensure haul capacity meets national harvest quotas. Over 50,000 trucks a day can be deployed during peak sugarbeet harvesting season, and the Kratos Leader/Follower platoon is an enabling technology that the agriculture industry can now use for optimizing allocation of available labor to bolster the supply chain.

Mike Metzger,
Minn-Dak Farmers Co-Op VP of Agriculture, 
said, “Minn-Dak is beyond excited to be partnering with Kratos Defense as we both take the next step towards implementing Kratos’ Leader/Follower technology. Our Cooperative’s goal is to take this technology to the next level by incorporating it into our commercial truck fleet that brings the sugarbeets from receiving stations to our factory for processing. It’s no secret that there is a gross shortage of commercially licensed truck drivers, especially in rural areas like ours. The deployment of driverless vehicle technology will undoubtedly help alleviate these labor shortages and improve the overall safety and efficiency of our fleet.”

Retrofitting driverless technology is an ideal solution for organizations like 
Minn-Dak that already have an existing fleet and logistics operations. It enables them to use their harvest trucks without having to invest in brand new “purpose-built” robotic vehicles. Additionally, the Kratos Leader/Follower platoon offers several advantages to logistics managers who can now pair available truck drivers with driverless trucks to enhance hauling productivity. The paired trucks offer greater efficiency and fuel savings while reducing recruitment costs and overall stress on the drivers, recruiters, and farmers by solving the driver shortage challenge. Additionally, the integration of the technology into the agriculture supply chain offers strategic workforce development opportunities.

About Kratos
Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information, please visit www.KratosDefense.com.

About Minn-Dak
Farmers Cooperative

Minn-Dak Farmers Cooperative (MDFC or 
Minn-Dak) was the nation’s first farmer-owned sugarbeet cooperative and is headquartered in 
Wahpeton, a city in the southeast corner of North Dakota, in the heart of the 
Red River Valley. The Cooperative is owned by approximately 500 Shareholders/Growers who collectively grow just over 100,000 acres of sugarbeets and is part of the domestic sweetener industry. 
Minn-Dak has proudly been in business since 1972 and processes its sugarbeets into sugar as well as products the likes of molasses and beet pulp pellets (used in animal feed). 
Minn-Dak’s products are then marketed through agents worldwide. Major customers include industrial users, including confectioners, breakfast-cereal manufacturers, and bakeries. For more information, please visit www.mdf.coop.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended 
December 26, 2021, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the 
SEC by Kratos.

Press Contact: Yolanda White 858-812-7302 Direct

Investor Information:
877-934-4687

investor@kratosdefense.com


Release – ALLEGIANT COMMENCES UAV-MAG SURVEY AT GOLDFIELD WEST PROJECT



ALLEGIANT COMMENCES UAV-MAG SURVEY AT GOLDFIELD WEST PROJECT

Research, News, and Market Data on Allegiant Gold

Reno, Nevada
/May 19, 2022 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU:
TSX-V) (AUXXF: OTCQX) 
is pleased to announce the commencement of a UAV-based MAG geophysical survey at Goldfield West ahead of a future drill program.

The Goldfield West property (“Goldfield
West
” or the “Property”) operated by Allegiant Gold consists of 185 unpatented claims (80 claims optioned from Anchor Minerals) located near the historic town of Goldfield.  The Property is near Gemfield recently acquired by Centerra Gold from Waterton Global Resources for approximately US$206 million.  The Property is situated nearby a main highway and has access to excellent infrastructure.  Zonge Engineering will be conducting the survey at Goldfield West and is expected to be completed in the next few days.     

Peter Gianulis, CEO of
Allegiant Gold
, commented: “Goldfield West is one of our most sought-after projects located near the historic mining town of Goldfield.  We are very excited to finally initiate a work campaign.  The Mag survey is the next step in a program that will lead to further geophysical work consisting of resistivity surveying (i.e., CSAMT) and geochemical sampling and detailed geologic mapping, ultimately leading to a drill plan and program.”

ABOUT ALLEGIANT
Allegiant owns 100% of 10 highly-prospective gold projects in the United States, 7 of which are located 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 located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

ON BEHALF OF THE BOARD
Peter Gianulis
CEO

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364

ir@allegiantgold.com

Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Certain statements and
information contained in this press release constitute “forward-looking
statements” within the meaning of applicable U.S. securities laws and
“forward-looking information” within the meaning of applicable Canadian
securities laws, which are referred to collectively as “forward-looking
statements”. The United States Private Securities Litigation Reform Act of
1995 provides a “safe harbor” for certain forward-looking statements.
 Allegiant Gold Ltd.’s
(“Allegiant”) exploration plans for its gold exploration properties, the drill
program at Allegiant’s Eastside project, the preparation and publication of an
updated resource estimate in respect of the Original Zone at the Eastside
project, Allegiant’s future exploration and development plans, including
anticipated costs and timing thereof; Allegiant’s plans for growth through
exploration activities, acquisitions or otherwise; and expectations regarding
future maintenance and capital expenditures, and working capital
requirements.  Forward-looking statements are statements and information
regarding possible events, conditions or results of operations that are based
upon assumptions about future economic conditions and courses of action. All
statements and information other than statements of historical fact may be
forward-looking statements. In some cases, forward-looking statements can be
identified by the use of words such as “seek”, “expect”, “anticipate”,
“budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”,
“predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and
similar words or phrases (including negative variations) suggesting future
outcomes or statements regarding an outlook.  Such forward-looking
statements are based on a number of material factors and assumptions and
involve known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements, or industry results, to
differ materially from those anticipated in such forward-looking information.
You are cautioned not to place undue reliance on forward-looking statements
contained in this press release. Some of the known risks and other factors
which could cause actual results to differ materially from those expressed in
the forward-looking statements are described in the sections entitled “Risk
Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed
with the TSX Venture Exchange and available on SEDAR under Allegiant’s profile
at www.sedar.com.  Actual results and future events could differ
materially from those anticipated in such statements. Allegiant undertakes no
obligation to update or revise any forward-looking statements included in this
press release if these beliefs, estimates and opinions or other circumstances
should change, except as otherwise required by applicable law.


Stem Cell Solutions for Hearing Impairment and Multiple Sclerosis


Image Credit: Frequency Therapeutics


Reversing Hearing Loss with Regenerative Therapy

Zach Winn | MIT
News Office

Most of us know someone affected by hearing loss, but we may not fully appreciate the hardships that lack of hearing can bring. Hearing loss can lead to isolation, frustration, and a debilitating ringing in the ears known as tinnitus. It is also closely correlated with dementia.

The biotechnology company Frequency Therapeutics (FREQ) is seeking to reverse hearing loss — not with hearing aids or implants, but with a new kind of regenerative therapy. The company uses small molecules to program progenitor cells, a descendant of stem cells in the inner ear, to create the tiny hair cells that allow us to hear.

Hair cells die off when exposed to loud noises or drugs including certain chemotherapies and antibiotics. Frequency’s drug candidate is designed to be injected into the ear to regenerate these cells within the cochlea. In clinical trials, the company has already improved people’s hearing as measured by tests of speech perception — the ability to understand speech and recognize words.

“Speech perception is the No. 1 goal for improving hearing and the No. 1 need we hear from patients,” says Frequency co-founder and Chief Scientific Officer Chris Loose PhD ’07.

In Frequency’s first clinical study, the company saw statistically significant improvements in speech perception in some participants after a single injection, with some responses lasting nearly two years.

The company has dosed more than 200 patients to date and has seen clinically meaningful improvements in speech perception in three separate clinical studies. Another study failed to show improvements in hearing compared to the placebo group, but the company attributes that result to flaws in the design of the trial.

Now Frequency is recruiting for a 124-person trial from which preliminary results should be available early next year.

The company’s founders, including Loose, MIT Institute Professor Robert Langer, CEO David Lucchino MBA ’06, Senior Vice President Will McLean PhD ’14, and Harvard-MIT Health Sciences and Technology affiliate faculty member Jeff Karp, are already gratified to have been able to help people improve their hearing through the trials. They also believe they’re making important contributions toward solving a problem that impacts more than 40 million people in the U.S. and hundreds of millions more around the world.

“Hearing is such an important sense; it connects people to their community and cultivates a sense of identity,” says Karp, who is also a professor of anesthesia at Brigham and Women’s Hospital. “I think the potential to restore hearing will have enormous impact on society.”

From the Lab to Patients

In 2005, Lucchino was an MBA student in the MIT Sloan School of Management and Loose was a PhD candidate in chemical engineering at MIT. Langer introduced the two aspiring entrepreneurs, and they started working on what would become Semprus BioSciences, a medical device company that won the MIT $100K Entrepreneurship Competition and later sold at a deal valued at up to $80 million.

“MIT has such a wonderful environment of people interested in new ventures that come from different backgrounds, so we’re able to assemble teams of people with diverse skills quickly,” Loose says.

Eight years after playing matchmaker for Lucchino and Loose, Langer began working with Karp to study the lining of the human gut, which regenerates itself almost every day.

With MIT postdoc Xiaolei Yin, who is now a scientific advisor to Frequency, the researchers discovered that the same molecules that control the gut’s stem cells are also used by a close descendant of stem cells called progenitor cells. Like stem cells, progenitor cells can turn into more specialized cells in the body.

“Every time we make an advance, we take a step back and ask how this could be even bigger,” Karp says. “It’s easy to be incremental, but how do we take what we learned and make a massive difference?”

Progenitor cells reside in the inner ear and generate hair cells when humans are in utero, but they become dormant before birth and never again turn into more specialized cells such as the hair cells of the cochlea. Humans are born with about 15,000 hair cells in each cochlea. Such cells die over time and never regenerate.

In 2012, the research team was able to use small molecules to turn progenitor cells into thousands of hair cells in the lab. Karp says no one had ever produced such a large number of hair cells before. He still remembers looking at the results while visiting his family, including his father, who wears a hearing aid.

“I looked at them and said, ‘I think we have a breakthrough,’” Karp says. “That’s the first and only time I’ve used that phrase.”

The advance was enough for Langer to play matchmaker again and bring Loose and Lucchino into the fold to start Frequency Therapeutics.

The founders believe their approach — injecting small molecules into the inner ear to turn progenitor cells into more specialized cells — offers advantages over gene therapies, which may rely on extracting a patient’s cells, programming them in a lab, and then delivering them to the right area.

“Tissues throughout your body contain progenitor cells, so we see a huge range of applications,” Loose says. “We believe this is the future of regenerative medicine.”

Advancing Regenerative Medicine

Frequency’s founders have been thrilled to watch their lab work mature into an impactful drug candidate in clinical trials.

“Some of these people [in the trials] couldn’t hear for 30 years, and for the first time they said they could go into a crowded restaurant and hear what their children were saying,” Langer says. “It’s so meaningful to them. Obviously more needs to be done, but just the fact that you can help a small group of people is really impressive to me.”

Karp believes Frequency’s work will advance researchers’ ability to manipulate progenitor cells and lead to new treatments down the line.

“I wouldn’t be surprised if in 10 or 15 years, because of the resources being put into this space and the incredible science being done, we can get to the point where [reversing hearing loss] would be similar to Lasik surgery, where you’re in and out in an hour or two and you can completely restore your vision,” Karp says. “I think we’ll see the same thing for hearing loss.”

The company is also developing a drug for multiple sclerosis (MS), a disease in which the immune system attacks the myelin in the brain and central nervous system. Progenitor cells already turn into the myelin-producing cells in the brain, but not fast enough to keep up with losses sustained by MS patients. Most MS therapies focus on suppressing the immune system rather than generating myelin.

Early versions of that drug candidate have shown dramatic increases in myelin in mouse studies. The company expects to file an investigational new drug application for MS with the FDA next year.

“When we were conceiving of this project, we meant for it to be a platform that could be broadly applicable to multiple tissues. Now we’re moving into the remyelination work, and to me it’s the tip of the iceberg in terms of what can be done by taking small molecules and controlling local biology,” Karp says.

For now, Karp is already thrilled with Frequency’s progress, which hit home the last time he was in Frequency’s office and met a speaker who shared her experience with hearing loss.

“You always hope your work will have an impact, but it can take a long time for that to happen,” Karp says. “It’s been an incredible experience working with the team to bring this forward. There are already people in the trials whose hearing has been dramatically improved and their lives have been changed. That impacts interactions with family and friends. It’s wonderful to be a part of.”

 

Reprinted with permission of MIT News (http://news.mit.edu/)


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Release – MOTORSPORT GAMES TO PARTICIPATE IN THE H.C. WAINWRIGHT GLOBAL INVESTMENT CONFERENCE



MOTORSPORT GAMES TO PARTICIPATE IN THE H.C. WAINWRIGHT GLOBAL INVESTMENT CONFERENCE

Research, News, and Market Data on Motorsport Games

MIAMI, May 19, 2022 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, today announced that management will participate in the H.C. Wainwright Global Investment Conference on Tuesday, May 24, 2022.

Dmitry Kozko, Chief Executive Officer of Motorsport Games, will present at 10:00 a.m. ET on May 24. Participants may access a live webcast of the presentation on the Motorsport Games Investor Relations site at https://ir.motorsportgames.com/ under “News & Events.” A replay will be archived online for one year.

About Motorsport Games:

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. For more information about Motorsport Games, visit www.motorsportgames.com.

Website and Social Media Disclosure:

Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on these websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

Websites

Social Media

motorsportgames.com

Twitter: @msportgames & @traxiongg

traxion.gg

Instagram: msportgames & traxiongg

motorsport.com

Facebook: Motorsport Games & traxiongg

 

LinkedIn: Motorsport Games

 

Twitch: traxiongg

 

Reddit: traxiongg

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Investors:

Ashley DeSimone

Ashley.Desimone@icrinc.com


Release – Maple Gold Announces C$4.8 Million Increase to Year Two Exploration Budget at Douay and Joutel



Maple Gold Announces C$4.8 Million Increase to Year Two Exploration Budget at Douay and Joutel

Research, News, and Market Data on Maple Gold Mines

Vancouver, British Columbia–(Newsfile Corp. – May 18, 2022) – Maple Gold Mines
Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) 
(“Maple Gold” or the “Company“) is pleased to announce that the 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited (“Agnico”) has agreed to increase the JV’s Year Two exploration budget by C$4.8 million to support a deep drilling program at the JV’s Douay Gold Project (“Douay”) and Joutel Gold Project (“Joutel”) in Quebec, Canada.

“Approval
of this supplemental budget in Year Two of the JV is an important continuation
of our 2022 exploration program across our 400 km
2 land
package,” 
stated Matthew Hornor, President and CEO of Maple Gold. “The
JV has developed a more aggressive step-out and deep drilling program to define
a larger gold system at Douay and to extend higher-grade mineralization along
the entire past-producing Eagle-Telbel mine trend at Joutel. It is an exciting
step for the JV to initiate this deep drilling program and we look forward to
working closely with our partner to deliver new discoveries that can expand the
current resource base.”

Fred Speidel, VP Exploration of Maple Gold added: “The Abitibi
Greenstone Belt is renowned for its deep-rooted gold systems and the confirmed
presence of mineralized carbonatite at Douay requires deep, mantle-tapping
structures. The expanded Year Two drill program will specifically target
Douay’s depth potential and will also kick-off maiden JV drilling at Joutel,
where historical intercepts and initial 3D modeling point to the potential for
extensions of high-grade gold mineralization at depth. Our current Eagle and
Douay drill programs are ongoing and with this supplemental budget now approved
we expect to be drilling continuously throughout 2022 and into 2023.”

The C$4.8 million supplemental exploration budget provides additional funding beyond Agnico’s Year Two JV spending commitment of C$4 million, therefore the partners will each contribute C$2.4 million on a pro rata (50/50) basis as per the JV agreement. Maple Gold’s portion will be fully funded using proceeds from the Company’s 2021 flow-through financing (see news from December 9, 2021). The deep drilling program is expected to include four to six drill holes and/or drill hole extensions totaling roughly 10,000 metres (“m”) across Douay and Joutel.

Deep
Drilling at Douay

The average vertical depth of the drill hole database at Douay is less than 300 m. Select deeper drilling has been completed, including the first two +1,000 m drill holes completed at Douay during the Winter 2022 campaign, but only limited drill data exists below 500 m vertical depth and no data exists below 800 m vertical depth. The supplemental budget will allow additional deep (1,500 – 2,000 m) drill holes or drill hole extensions at Douay, which have been designed to test multiple horizons within the favourable litho-tectonic corridor extending from roughly one kilometre south of the Casa Berardi North Fault (“CBNF”) within basalt and syenitic rocks, and up to 500 m north of the CBNF in Taibi Group sediments. Planned deep drill holes at Douay are designed to reach the CBNF at depth and will test the full extent of the mineralized system, from the Douay West Zone to the Main Zone, all well below the SLR 2022 conceptual pits in these areas (see Figure 1 for proposed drill hole locations).

Figure 1: Douay NW-SE vertical longitudinal section (all zones) showing location of proposed deep drill holes relative to existing drilling and SLR 2022 mineral resources and conceptual pits. Pierce points are approximate and reflect broader targets that extend from the first appearance of syenite to up to 500 m north of the CBNF. Note that for practical (terrain) reasons several of these deeper holes will not be drilled until February 2023. Other mine/project information shown for reference only.

Deep
Drilling at Joutel (Telbel Mine Area)

Planned drilling at Joutel will include three drill holes beneath the historical underground mine workings at Telbel, which extend to roughly 1,200 m below surface. Past gold production at Telbel focused on a single zone between 600 – 1,200 m; however, the JV’s data digitization and 3D modeling have identified significant gold intercepts up to 1,400 m below surface that were never adequately followed up on. This initial phase of deep drilling at Telbel will begin to test the observed stratigraphic continuity and associated gold mineralization at greater depth. At least one hole is expected to be drilled from the south and at least two holes from the north to test the full stratigraphy for the main Telbel mine horizon and potential sub-parallel gold trends (see Figure 2 for proposed drill hole locations).

Figure 2: Oblique view of Telbel mine area showing location of proposed deep drill holes.

Qualified
Person

The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this press release through his direct participation in the work.

About
Maple 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. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.

The district-scale property package also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.

ON
BEHALF OF MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For
Further Information Please Contact:

Mr. Joness Lang
Executive Vice-President
Cell: 778.686.6836
Email: 
jlang@maplegoldmines.com

Mr. Kiran Patankar
SVP, Growth Strategy
Cell: 604.935.9577
Email: 
kpatankar@maplegoldmines.com

NEITHER
THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Forward
Looking Statements:

This press release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.comThe Company does not
intend, and expressly disclaims any intention or obligation to, update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.


Avoiding the Noise and Focusing on Managing Your Investments



One Way to Keep the Investor Focus Needed to Succeed When Markets Turn

Keeping a clear head while all around you are losing theirs is key to trading and investing. I have a habit that helps with focus that I learned from my years as a chief investment officer responsible for the success of several billion invested in the public markets. I’ll share this with you. As I combed through headlines this morning, all of them pushed doom and gloom, this can cause partial investor “blindness. I didn’t bother to turn on the TV as I’m certain the emotionally charged market pundits are doing all they can to keep viewers engaged. They do this by emphasizing things that create fear.

Fear sells, and selling benefits their shareholders whether or not the information helps your investment decision-making or not. And making decisions to grow and protect your money is the essence of successful investment management.

Where You Could Look Instead  

I mentioned I didn’t turn on the TV this morning. For me, much of the TV market news are shows designed to keep you tuned in all day. They do this with emotional broadcasts and “breaking news” stories. It makes sense for them, they sell advertising, and the industry increases revenue by building viewership. But I admit I did tune in yesterday to watch my friend Eddie Ghabour, the author of The Commonsense Bull to see what he had to say. To his credit, Eddie owned Apple (APPL) and other tech stocks when everyone else thought they had no more room to run. To me, his is the voice of calculated reason. The two were discussing the comments Fed Chair Jay Powell made at a Wall Street Journal event concerning their resolve to fight inflation. I was surprised to hear the self-described commonsense bull stoking fear by saying, we’re in the “largest bubble of our lifetime,” and it’s going to burst as the Federal Reserve is “going to suck liquidity out of the system.” Whether this comes true or not, immersing oneself in this kind of talk will begin to prevent you from uncovering opportunities. And in every situation, there are opportunities.

It may seem obvious to say that data is unemotional. But it is less likely to create the kind of bias that prevents an investor from seeing what could be when viewed in black and white. Whether it’s TV journalists or professional headline writers, there’s a bias in reporting, a bias that is absent in raw numbers, and when done right, absent in genuine investment research.

Fortunately, we now all have systems, software, platforms, and computers to sort through technical data. We can learn quickly what stocks are trading counter to the market, what’s trading up on volume, what’s moving above its 50-day average, etc. These are the kind of things I like to look at,  finding what’s strong when everyone else is talking about the world falling apart. Then I make sure its normal performance isn’t a natural mirror image, in other words, it isn’t likely to go negative when the market turns positive. An example would be bond ETFs going up when stocks go down. Looking for companies that are strong and may have gained even more on a positive day is built in to most platforms and can isolate, without emotion, candidates to review while everyone else is being told we are doomed.

May 18, 2022, for Example

Within Channelchek there is a section to the left of the screen called Movers and Shakers. On a real-time basis, it filters through the 6000+ small and microcap stocks on Channelchek and provides users with those that have the largest gains, largest losses, and relatively most active. On this big down day, I wanted to see what was holding up and if they were all centered around a specific industry. It turns out there was no industry preference, but there was a long list of companies up 7% or more while the market was down over 4%.

Screenshot of Channelchek Movers and Shakers after close
May 18, 2022

From the quick list, I started with names I am most familiar with. In fact, I had just gotten research in my email on Garibaldi Resources (GGI:CA, GGIFF). As an added plus I am not opposed to increasing my exposure to gold. 

Then I looked at the most recent, decidedly unemotional, third-party research on this company. It stands to reason that letting a FINRA licensed analyst that specialized in the industry and knows the company through-and-through, is the best person to kick the tires and show what they are expecting.

Using this one company as an example: Garibaldi is a gold mining company that just released very positive exploratory results on one of their mines.  The indepth report explained that out of nine holes drilled to test for gold mineralization, eight came back with positive results. This could explain the strength of this stock, particularly in the gold sector which also outperformed on this day.

As a side note, I found it interesting that on a day that the U.S. markets were falling, all the overperforming stocks were listed (some co-listed) on a Canadian exchange. This isn’t insight you’re likely to get on CNBC or Fox Business News.

Sidelines

Money in the market should continually be swapped out for better opportunities, this is an especially good practice with tax-deferred accounts like IRAs.  Money on the sidelines, when inflation is running above 8%, is losing a lot of buying power. While dry-powder is helpful to have on-hand when you think the market has hit bottom, keep in mind that money is always moving someplace. And there are many companies with performance not-correlated to the companies that are driving index averages.

Take-Away

Sell-offs will always cause scary headlines and fearful hype from newscasters and publications. Individual and professional investors alike can lose focus when surrounded by doom and gloom forecasts. One way around this is reviewing mostly data and reading full stories from the more reputable sources, also look for quality research. Market research and equity research   if done right it is devoid of emotion.

The example above is simple and basic, using only one tool to see where money is flowing to, rather than allowing myself to be bombarded with where it is flowing from. To be sure your brokerage account has an array of very sophisticated tools to bring ideas to the surface.

Register for Channelchek to receive equity research in your inbox before the opening bell each day.

Paul Hoffman

Managing Editor, Channelchek

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EuroDry (EDRY) – EuroDry reports 2022-1Q results in line with expectations

Thursday, May 19, 2022

EuroDry (EDRY)
EuroDry reports 2022-1Q results in line with expectations

EuroDry Ltd. was formed on January 8, 2018 under the laws of the Republic of the Marshall Islands to consolidate the drybulk fleet of Euroseas Ltd. into a separate listed public company. EuroDry was spun-off from Euroseas Ltd. on May 30, 2018; it trades on the NASDAQ Capital Market under the ticker EDRY. EuroDry operates in the dry cargo, drybulk shipping market. EuroDry’s operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company and Eurobulk (Far East) Ltd. Inc., which are responsible for the day- to-day commercial and technical management and operations of the vessels. EuroDry employs its vessels on spot and period charters and under pool agreements.

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

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

Results were generally in line with expectations. EuroDry reported revenues of $18.3m in the 2022-1Q versus $8.6m last year, slightly below our $19.5m estimate. Utilization rates remain near 100%. TCE rates were $24,636 versus $14,924 last year. Operating income was $10.2m versus $3.1m, in line with our $10.5m estimate. Adjusted EBITDA was $12.7m versus $4.7m and in line with our $12.9m estimate. Similarly, adjusted net income was $9.5m/$3.30, near our $9.8m/$3.40 projections.

Charters extended. New vessels added. EuroDry extended the charters for several of its vessels at favorable rates. The  company took ownership of two vessels this year including one in February and one in April. It sold one vessel. The company now has 11 vessels with the rates for most of the vessels fixed for the rest of 2022 and about half fixed for 2023. Spot prices rose sharply last fall before falling in the first quarter of the year. Rates are still attractive relative to historical levels and the outlook is positive due to a lack of new dry bulk ship builds and expanding world economic conditions….

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. 

Blackboxstocks (BLBX) – First Quarter 2022 Results

Wednesday, May 18, 2022

Blackboxstocks (BLBX)
First Quarter 2022 Results

Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs “predictive technology” enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/video feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans 42 countries; current subscription fees are $99.97 per month or $959.00 annually. For more information, go to: www.blackboxstocks.com .

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.

1Q22 Results. Revenue was $1.272 million, down from $1.489 million in the year ago period and below our estimate of $1.9 million. Although Blackboxstocks passed the 6,000 subscriber base in the fourth quarter of 2021, growth in 1Q22 was due to a promotion that reduced estimated revenue. The Company reported a loss of $1.2 million, or $0.09 per share, in the quarter, compared to net income of $12,555, or breakeven, last year. 

Margin Compression. Blackboxstocks ran a successful one-month promotion in March, ending the quarter with 7,400 members, compared to a first quarter average count of 5,709. However, this came at a cost as gross margin fell to 54.4% in the quarter from 63.7% last year. Revenue per average subscriber in the quarter was $222.89 compared to $266.51 in the year ago quarter….

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. 

Item 9 Labs (INLB) – Slowly Building Up

Wednesday, May 18, 2022

Item 9 Labs (INLB)
Slowly Building Up

Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator and dispensary franchisor delivering premium products from its large-scale cultivation and production facilities in the United States. The award-winning Item 9 Labs brand specializes in best-in-class products and user experience across several cannabis categories. The company also offers a unique dispensary franchise model through the national Unity Rd. retail brand. Easing barriers to entry, the franchise provides an opportunity for both new and existing dispensary owners to leverage the knowledge, resources, and ongoing support needed to thrive in their state compliantly and successfully. Item 9 Labs brings the best industry practices to markets nationwide through distinctive retail experience, cultivation capabilities, and product innovation. The veteran management team combines a diverse skill set with deep experience in the cannabis sector, franchising, and the capital markets to lead a new generation of public cannabis companies that provide transparency, consistency, and well-being. Headquartered in Arizona, the company is currently expanding its operations space by up to 640,000-plus square feet on its 50-acre site, one of the largest properties in Arizona zoned to grow and cultivate flower. For additional information, visit https://investors.item9labscorp.com/.

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.

2Q Results. Item 9 Labs’ management announced total revenue of $6.6 million, an increase of 6% or $0.5 million over the prior year’s $6.1 million. We had forecasted $7.3 million. Gross profit was $2.7 million versus the prior year of $3.0 million. Net loss for the quarter was $3.9 million, or $0.04 per share, from last year’s net income of $49,020, or breakeven. Adjusted EBITDA decreased by $1.9 million to a loss of $0.9 million from income of $1.0 million last year.

Down the Path of Unity Rd. Highlights for Unity Rd. for the quarter include approval for plans and permitting for a dispensary in Maine, the expansion into Oklahoma in January, the first corporate owned Denver dispensary, and the asset purchase agreement for the Company’s future flagship dispensary and cultivation facility in Denver. All these events give credence to Item 9 Labs’ franchise growth strategy….

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.