ESG Growing Pains Include Greenwashing


The Extreme Growth of ESG Has Bumps that Include Greenwashing

 

Over the past decade, there’s been a great proliferation of investment strategies and funds that consider environmental, social, and governance (ESG) factors. Publicly traded companies are certainly aware of this. They know that if they fall within these categories, to make certain they’re recognized for it. After all, this recognition could enhance demand for their stock. The rewards are great. Growth of ESG funds from January through September 2021 was $577 billion, and this far exceeded the prior year’s rapid expansion to $355 billion. And this does not include the investments in individual stocks outside of funds.  There is no question, if a company is listed as ESG, it may get more attention than if it is not.

Greenwashing

As ESG continues to dominate the headlines, so does “greenwashing”, which occurs when an organization makes exaggerated claims that a product or service is more environmentally friendly than it truly is. Greenwashing can occur within a company selling a product or service. A classic example is when Volkswagen rigged its cars to cheat on emissions tests, then sold the cars as if they were in line with federal emissions standards while touting the benefits of “clean diesel”. Another example of greenwashing would be if an asset manager labeled an investment product, such as a mutual fund, as green or sustainable but had no process in place to assess the sustainability factors of the underlying investments.

Standardization

Although greenwashing can imply intentional deception, there is also some accidental greenwashing that occurs due to the lack of standardization or regulation of ESG disclosures. Say, for example, that an ESG asset manager markets a fund as sustainable. The manager will invest in companies that have a history of decreasing greenhouse gas emissions, including energy companies. An individual investor may look at the fund and be surprised to see an energy company included. This isn’t greenwashing, but rather a difference of opinion of what “sustainable” means. Without standardized definitions, methodologies, and regulations, this form of accidental greenwashing will be difficult to avoid. Because of this, some areas of the world have already started to implement standardized ESG disclosures, and the U.S. and agencies within are exploring this.

Let the Investor Beware

There is a clear business opportunity within the realm of ESG. Companies realize that in order to attract investment dollars and consumer support, they must have an ESG story. This all begs the question: how can individuals differentiate between a story and a true strategy? Until regulation comes into play, the onus will be on individuals to investigate for themselves. Here are some tips to keep handy:

  • Request a company’s CSR, sustainability, or impact report. If a company doesn’t have one, or if it includes a lot of fluff or buzz words, it’s a red flag.
  • When investing in products labeled “ESG” or “sustainable”, ask the portfolio manager or analyst to explain the screening process to you. If they have a hard time articulating this, or don’t have much to say, it’s a red flag.
  • Ask questions, and specifically ask for statistics and data to back up claims. For example, what makes the product “eco-friendly”? If a company hesitates to provide these figures, it’s a red flag.
  • Look for certifications, such as USDA Organic, Fair Trade Certified, etc. If a product is being sold as all-natural or organic, but doesn’t have a relevant certification, it’s a red flag.

As ESG continues to grow, so will the frequency of greenwashing. Regulation and oversight of ESG disclosure standards will undoubtedly help combat greenwashing.  Until then, a healthy dose of skepticism can assist individuals in weeding out the bad actors. If it seems too good to be true, it probably is.

 

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What’s an ESG Score?



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Lithium Recycling is an EV Opportunity Not Yet on Many Investors’ Radar



Can Mining be Green and Sustainable?

 

Sources:

https://www.nasdaq.com/articles/esg-growth-outlook-provides-ballast-for-this-etf

https://www.gobyinc.com/how-much-money-is-invested-in-esg/

https://info.logicmanager.com/

https://www.broadridge.com/

 

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Seanergy Maritime (SHIP) – Tune Into Virtual Transportation Logistics Forum

Thursday, December 16, 2021

Seanergy Maritime (SHIP)
Tune Into Virtual Transportation & Logistics Forum

Seanergy Maritime Holdings Corp. is the only pure-play Capesize shipping company listed in the US capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. Upon delivery of the M/V Dukeship, the Company’s operating fleet will consist of 17 Capesize vessels with an average age of 11.5 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt. The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”, its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ”.

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

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

    Tune in to hear about SHIP at today’s Transportation & Logistics online forum. CEO Stamatis Tsantanis and CFO Stavros Gyftakis will present at 11:00am EST. Free registration is available at www.channelchek.com

    Presentation highlights should include substantial 2021 progress.  The fleet expansion to 17 Capes and recent completion of the $17 million buy back program are good indications of better execution and an improved financial position. The retirement of convert debt and stock and warrant buy backs limits potential share issuance …



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. 

Grindrod Shipping (GRIN) – Tune Into Virtual Transportation Logistics Forum

Thursday, December 16, 2021

Grindrod Shipping (GRIN)
Tune Into Virtual Transportation & Logistics Forum

Grindrod Shipping, originated in South Africa with roots dating back to 1910. The company is based in Singapore, with offices around the world including, London, Durban, Cape Town, Tokyo and Rotterdam. Its primary listing is on Nasdaq and secondary listing on the JSE.

Grindrod Shipping owns and operates a diversified fleet of owned, long-term chartered and joint-venture dry-bulk and liquid-bulk vessels across the globe.

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

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

    Tune in to hear about GRIN at today’s Transportation & Logistics online forum. CEO Martyn Wade and CFO Stephen Griffiths will present at 3:00pm EST. Free registration is available at www.channelchek.com

    Presentation should focus on 2021 moves that enhanced competitive position and investor appeal.  While GRIN entered the year as a pure play dry bulk company, moves in 2021 further enhanced the competitive position and broadened investor appeal. Those moves included the acquisition of the remaining interest in IVS Bulk for $46.3 million, acquiring the 2019-built Phoenix Ultra for $23.5 million, and …



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. 

Pangaea Logistics (PANL) – Tune Into Virtual Transportation Logistics Forum

Thursday, December 16, 2021

Pangaea Logistics (PANL)
Tune Into Virtual Transportation & Logistics Forum

Pangaea Logistics Solutions Ltd and its subsidiaries provide seaborne drybulk transportation services. It transports drybulk cargos including grains, coal, iron, ore, pig, iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The firm’s services include cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management. The company derives all of its revenues from contracts of affreightment, voyage charters and time charters. Its strategy depends on focusing on increasing strategic contracts of affreightment, expanding capacity and flexibility by increasing its owned fleet and increasing backhaul focus and fleet efficiency.

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

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

    Tune in to hear about Pangaea Logistics at today’s Transportation & Logistics online forum. CEO Mark Filanowski, Managing Director Mads Boye Peterson and CFO Gianni Del Signore will present at 2:00pm EST. Free registration is available at www.channelchek.com

    Presentation should highlight positive 2021 developments.  We expect a positive view on the dry bulk market fundamentals, especially for the Ice Class sector. There are many reasons that PANL remains well positioned, including a consistent commercial strategy that adds value in different market environments, a leading Ice Class market position, substantial progress on renewing and expanding the …



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 – Digerati Technologies Reports 143 Revenue Growth to $3.777 Million for First Quarter FY2022




Digerati Technologies Reports 143% Revenue Growth to $3.777 Million for First Quarter FY2022

Research, News, and Market Data on Digerati Technologies

 

– Non-GAAP Operating EBITDA of $0.691 Million –
– Gross Profit of $2.287 Million –
– Strong Gross Margin Improvement to 60.6% –

SAN ANTONIO, TX (GlobeNewswire) – December 15, 2021 – Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as  a Service) solutions for the small to medium-sized business (“SMB”) market, announced today financial results  for the three months ended October 31, 2021, the Company’s first quarter for its Fiscal Year 2022. 

Key Financial Highlights for the First Quarter Fiscal Year 2022 (Ended October 31, 2021) 

  • Revenue increased by 143% to $3.777 million compared to $1.552 million for Q1 FY2021.
  •  Gross profit increased 184% to $2.287 million compared to $0.804 million for Q1 FY2021.
  •  Gross margin increased to 60.6% compared to 51.8% for Q1 FY2021.
  • Non-GAAP Adjusted EBITDA income improved to $0.317 million, excluding all non-cash items and one-time transactional expenses, compared to Adjusted EBITDA income of $0.058 million for Q1FY2021.
  • Non-GAAP operating EBITDA (OPCO EBITDA) improved to income of $0.691 million, excluding corporate expenses, compared to a non-GAAP operating EBITDA of $0.242 million for Q1 FY2021.

Arthur L. Smith, CEO of Digerati, commented, “I commend our team for continuing to execute successfully on  our plan and delivering on solid financial improvements in our first quarter of FY2022. This is reflected in strong  top-line revenue growth of 143%, an increase in gross margin, and improved Adjusted EBITDA results. With a  solid foundation in Florida and Texas, we believe Digerati is well positioned to continue executing on its business  plan and deliver on organic and acquisition growth in a very fragmented market.” 

Antonio Estrada, CFO of Digerati, stated, “Our financial disciplines remain strong since acquiring Nexogy and  ActivePBX in FY2021. Although most of the integration related to these acquisitions is complete, we continue  to streamline cost structures and integrate systems that we anticipate will result in improved financial results in  the future. We look forward to replicating this type of success with additional targeted and accretive acquisitions.” 

Three Months ended October 31, 2021 Compared to Three Months ended October 31, 2020 

Revenue for the three months ended October 31, 2021 was $3.777 million, an increase of $2.225 million or 143% compared to $1.552 million for the three months ended October 31, 2020. The increase in revenue between  periods is primarily attributed to the consolidation of the closed acquisitions of Nexogy and ActivePBX during  the period. 

Gross profit for the three months ended October 31, 2021 was $2.287 million, resulting in a gross margin of  60.6%, compared to $0.804 million and 51.8% for the three months ended October 31, 2020. The increase in gross margin is primarily due to the addition of high-margin revenue associated with Nexogy’s and ActivePBX’s  UCaaS product line.  

Selling, General and Administrative expenses (excluding legal and professional fees) for the three months ended  October 31, 2021 increased by $0.777 million, or 77%, to $1.788 million compared to $1.011 million for the three  months ended October 31, 2020. The increase in SG&A is attributed to the consolidation of the closed acquisitions  of Nexogy and ActivePBX. 

Operating loss for the three months ended October 31, 2021, was $0.580 million, an improvement of $0.046 million or 7%, compared to $0.626 million for the three months ended October 31, 2020. 

Adjusted EBITDA income for the three months ended October 31, 2021, was $0.317 million, an improvement of  $0.259 million, compared to an adjusted EBITDA income of $0.058 million for the three months ended October 31, 2020. In accordance with SEC Regulation G, the non-GAAP measurement of Adjusted EBITDA has been  reconciled to the nearest GAAP measurement, which can be viewed under the heading “Reconciliation of Net  Loss to Adjusted EBITDA” in the financial table included in this press release. 

Of note were the following non-cash expenses associated with the three months ended October 31, 2021. The  Company recognized stock-based compensation and warrant expense of $0.024 million and depreciation and  amortization expense of $0.492 million. Gain on derivative instruments was $4.433 million for the three months ended October 31, 2021. 

Non-GAAP operating EBITDA (OPCO EBITDA) for the three months ended October 31, 2021 improved to  income of $0.691 million, excluding corporate expenses, compared to a non-GAAP operating income of $0.242 million for the three months ended October 31, 2020. 

Net income for the three months ended October 31, 2021, was $2.419 million, an increase of $3.145 million, as  compared to a net loss of $0.726 million, for the three months ended October 31, 2020. The resulting Basic EPS  for the three months ended October 31, 2021 was $0.02, as compared to a Basic EPS loss of ($0.01) for the three  months ended October 31, 2020. 

At October 31, 2021, Digerati had $1.646 million of cash. 

Use of Non-GAAP Financial Measurements 

The Company believes that EBITDA (earnings before interest, taxes, depreciation and amortization) is useful to  investors because it is commonly used in the cloud communications industry to evaluate companies on the basis  of operating performance and leverage. Adjusted EBITDA provides an adjusted view of EBITDA that takes into  account certain significant non-recurring transactions, if any, such as impairment losses and expenses associated  with pending acquisitions, which vary significantly between periods and are not recurring in nature, as well as  certain recurring non-cash charges such as changes in fair value of the Company’s derivative liabilities and stock based compensation. The Company also believes that Adjusted EBITDA provides investors with a measure of  the Company’s operational and financial progress that corresponds with the measurements used by management  as a basis for allocating resources and making other operating decisions. Although the Company uses Adjusted  EBITDA as one of several financial measures to assess its operating performance, its use is limited as it excludes  certain significant operating expenses. Non-GAAP operating EBITDA (OPCO EBITDA) is useful to investors  because it reflects EBITDA for the core operation of the business excluding corporate expenses, non-cash  expenses and transactional expenses. EBITDA, Adjusted EBITDA, and Non-GAAP operating EBITDA are not  intended to represent cash flows for the periods presented, nor have they been presented as an alternative to  operating income or as an indicator of operating performance and should not be considered in isolation or as a  substitute for measures of performance prepared in accordance with accounting principles generally accepted in  the United States of America (“GAAP”). In accordance with SEC Regulation G, the non-GAAP measurements

in this press release have been reconciled to the nearest GAAP measurement, which can be viewed under the heading “Reconciliation of Net Loss to Adjusted EBITDA” in the financial table included in this press release. 

About Digerati Technologies, Inc. 

Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS (Unified  Communications as a Service) solutions for the business market. Through its operating subsidiaries T3  Communications (T3com.com) and Nexogy (Nexogy.com), the Company is meeting the global needs of  businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including  cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on  its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions  in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the  Cloud™. For more information, please visit www.digerati-inc.com or follow DTGI on LinkedIn, Twitter and  Facebook.  

Forward-Looking Statements 

The information in this news release includes certain forward-looking statements that are based upon assumptions  that in the future may prove not to have been accurate and are subject to significant risks and uncertainties,  including statements related to the future financial performance of the Company. Although the Company believes  that the expectations reflected in the forward-looking statements such as anticipated improvement in financial  results and delivering on organic and acquisition growth in a very fragmented market, are reasonable, it can give  no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that  could cause results to differ include, but are not limited to, our inability to source suitable acquisition targets,  failure to execute growth strategies, lack of product development and related market acceptance, the impact of  competitive services and pricing, general economic conditions, and other risks and uncertainties described in the  Company’s periodic filings with the Securities and Exchange Commission. 

Facebook: Digerati Technologies, Inc. 
Twitter: @DIGERATI_IR 
LinkedIn: Digerati Technologies, Inc.  

Investors 

The Eversull Group 
Jack Eversull  
jack@theeversullgroup.com 
(972) 571-1624 

ClearThink 
Brian Loper 
bloper@clearthink.capital 
(347) 413-4234

International Seaways (INSW) – Transportation & Logistics – a NobleCon Online Investor Event


International Seaways Senior Vice President & CFO Jeffrey D. Pribor delivers a formal corporate overview, followed by a Q & A session moderated by Noble Capital Markets Senior Transportation & Logistics Analyst Poe Fratt.

Return to the Investor Forum Event Page

International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 92 vessels, including 13 VLCCs (including three newbuildings), 15 Suezmaxes, five Aframaxes/LR2s, 10 Panamaxes/LR1s, 41 MR tankers and six Handy tankers. Through joint ventures, it has ownership interests in two floating storage and offloading service vessels. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at https://www.intlseas.com.

News & Advanced Market Data on INSW

Release – BioSig Expands Its Clinical Footprint In Florida



BioSig Expands Its Clinical Footprint In Florida

News and Market Data on BioSig Technologies

 

The Company’s signal processing technology for arrhythmia care is being installed in a leading HCA Healthcare-operated facility in Southeast Florida

Westport, CT, Dec. 16, 2021 (GLOBE NEWSWIRE) — BioSig Technologies, Inc. (Nasdaq: BSGM) (“BioSig” or the “Company”), a medical technology company commercializing an innovative signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals, today announced that it is installing a PURE EP™ System for an evaluation at the HCA Healthcare-operated Westside Regional Medical Center in Plantation, FL.

Westside Regional Medical Center is an award-winning 250-bed hospital recognized for providing a wide array of services to the residents of Broward County, South Florida, and visitors from around the world. The hospital’s electrophysiology program is one of the most frequented in Broward County, offering advanced diagnostic services and multiple modalities for diagnosing and treating arrhythmia.1. In addition to its comprehensive cardiovascular services, Westside Regional Medical Center is certified as a Comprehensive Stroke Center by the Agency for Health Care Administration (ACHA). Westside Regional Medical Center is a facility of HCA East Florida, the most extensive healthcare system in Eastern Florida and an affiliate of Hospital Corporation of America (HCA). HCA East Florida has 14 hospitals, multiple ambulatory surgery centers, physician practices, free-standing emergency care facilities, and a supply chain center, and an integrated regional lab.2

“Our new installation agreement with Westside Regional Medical Center increases our clinical reach across the state, with an installation in both the north and south regions of Florida. We are thrilled to partner with another leading HCA Healthcare-operated institution and continue to solidify our commitment to arrhythmia patient care across the state of Florida,” commented Kenneth L. Londoner, Chairman and CEO of BioSig Technologies, Inc.

To date, 73 physicians have completed over 1750 patient cases with the PURE EP™ System. The Company is in a focused commercial launch of the PURE EP™ System in the Northeast, Texas, and Florida. The Company’s most recent evaluation adds to its clinical footprint in Florida, which also includes Mayo Clinic’s Florida Campus, a national Medical Center of Excellence.

Clinical data acquired by the PURE EP™ System in a multi-center study at Texas Cardiac Arrhythmia Institute at St. David’s Medical Center, Mayo Clinic Jacksonville and Massachusetts General Hospital was recently published in the Journal of Cardiovascular Electrophysiology and is available electronically with open access via the Wiley Online Library. Study results showed 93% consensus across the blinded reviewers with a 75% overall improvement in intracardiac signal quality and confidence in interpreting PURE EP™ signals over conventional sources.

About 2,300 Americans die from heart disease each day – an average of one death every 38 seconds3. In 2016, 1.6 million Texas adults reported that they had been diagnosed with heart disease or stroke4. There were 336,462 hospitalizations of adult Texans related to heart disease in 2016, at an age-adjusted rate of 124.0 per 10,000 adults5. The direct and indirect costs of heart disease and stroke in the U.S. are estimated to be $329.7 billion, and the cost is projected to increase to $749 billion by 20356.

About BioSig Technologies
BioSig Technologies is a medical technology company commercializing a proprietary biomedical signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals (www.biosig.com).

The Company’s first product, PURE EP™ System is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording, and storing electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures in an EP laboratory.

Forward-looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward- looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the geographic, social and economic impact of COVID-19 on our ability to conduct our business and raise capital in the future when needed, (ii) our inability to manufacture our products and product candidates on a commercial scale on our own, or in collaboration with third parties; (iii) difficulties in obtaining financing on commercially reasonable terms; (iv) changes in the size and nature of our competition; (v) loss of one or more key executives or scientists; and (vi) difficulties in securing regulatory approval to market our products and product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.



1 Arrhythmia Specialties – Westside Regional Medical Center: westsideregional.com

2 Hospital News and Healthcare Report – 2020: southfloridahospitalnews.com

3 Heart disease and stroke statistics – 2018 update: a report from the American Heart Association

4 Texas Behavioral Risk Factor Surveillance System Public Use Data File, 2016, Center for Health Statistics, Texas Department of State Health Services

5 Texas Hospital Inpatient Discharge Public Use Data, Texas Health Care Information Collection, 2016, Center for Health Statistics, Texas Department of State Health Services

6 Heart disease and stroke statistics – 2018 update: a report from the American Heart Association


Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133

Source: BioSig Technologies, Inc.

Seanergy Maritime Holdings (SHIP) – Transportation & Logistics – a NobleCon Online Investor Event


Seanergy Maritime Holdings CEO Stamatis Tsantanis and CFO Stavros Gyftakis deliver a formal corporate overview, followed by a Q & A session moderated by Noble Capital Markets Senior Transportation & Logistics Analyst Poe Fratt.

Return to the Investor Forum Event Page

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 17 Capesize vessels with an average age of 11.7 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt. The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and its Class B warrants under “SHIPZ”. Please visit our company website at: www.seanergymaritime.com.

Research, News & Advanced Market Data on SHIP

Release – Seanergy Maritime Announces Refinancing of Existing Vessel Resulting in Significant Cashflow and P&L Benefit



Seanergy Maritime Announces Refinancing of Existing Vessel Resulting in Significant Cashflow and P&L Benefit

Research, News, and Market Data on Seanergy Maritime

 

December 16, 2021 – Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP) announced today that it has entered into a definitive agreement for the refinancing of a loan facility secured by M/V Geniuship, with a new loan facility secured by the same vessel.

The current outstanding balance is provided by certain nominees of Entrust Global and stands at $14.6 million. The Entrust facility has a remaining duration of 3.5 years, bears interest at a fixed rate of 10.5% per annum and amortizes through quarterly instalments of $515,000.

The new loan facility will be provided by a prominent Far Eastern bank (the ‘New Facility’), has an initial balance of $15 million, a five-year term and bears interest of LIBOR + 3.5% per annum. The New Facility will amortize through 4 quarterly instalments of $530,000 followed by 16 quarterly instalments of $385,000.

The significantly lower interest rate, as well as the reduced quarterly repayments agreed for 2023 onwards, will further improve the break-even rates of the underlying vessel. In addition, the interest savings for the Company are expected to be $0.9 million for 2022 and $0.5 million on average per year for 2023-25.

As of the date of this release and pro-forma for this refinancing, which is expected to close within December, Seanergy’s total indebtedness will be approximately $242.7 million, consisting of $221.0 million debt and other financial leases and $21.7 million in unsecured convertible notes, while total cash and cash equivalents, restricted cash and term deposits of the Company are expected to be approximately $45.0 million.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:

“As part of our continuous efforts to further improve our strong cashflow, we have agreed another successful refinancing for an existing capesize vessel. The New Facility has a considerably lower interest rate, which will benefit immediately the Company’s cash flow and profitability. The total expected interest savings for Seanergy will be approximately $2.3 million over the next 3 years. Consistent with our conservative approach on leverage, we aim in achieving more competitive pricing and overall terms of the loan without increasing the debt on the vessel.

“We remain committed to our strategy to further reduce our financing cost by additional refinancings and buybacks or repayment of debt that are expected to generate improved shareholder returns.”

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 17 Capesize vessels with an average age of 11.7 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt.

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and its Class B warrants under “SHIPZ”.

Please visit our company website at: www.seanergymaritime.com.

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For further information please contact:

Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr

Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com

Digerati Technologies (DTGI) – What The Recent Results Indicate

Thursday, December 16, 2021

Digerati Technologies (DTGI)
What The Recent Results Indicate?

Digerati Technologies, Inc. (OTCQB: DTGI) is a telecom and technology provider of diverse, carrier-grade, Only in the Cloud™ communication and network solutions including Unified Communication as a Service, cloud telephony, cloud WAN, cloud call center, cloud mobile, and delivery of digital oxygen on its fiber/mobile broadband network. Digerati has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers flexible, cost-effective services with enterprise-grade quality and reliability. A multi-year recipient of Deloitte’s Fast500 and Fast50 Awards for one of the fastest growing technology companies in North America, Digerati has become an expert at successfully merging and managing subsidiary operations since 2015. The Company’s impressive tech-stack serves 28,000 business users on its platform and its dynamic channel program includes over 300 channel partners that serve as a conduit for sales growth. Digerati has continuously increased customer adoption while serving diverse industries including Healthcare, Banking, Financial Services, Legal, Real Estate, and Construction. Digerati currently has a strong platform for growth throughout Texas and Florida, the 2nd and 4th largest state economies by GDP in the U.S. The Company’s clean and clear fundamentals, combined with its clearly defined growth plan, disciplined acquisition strategy and seasoned leadership team is expected to increase shareholder value as it enters the next phase of its corporate development plan. For more information, please visit www.digerati-inc.com.

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

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

    Surprisingly better results. Fiscal Q1 revenues were just shy of our expectation coming in at $3.78 million versus our $3.8 million estimate. Adj. EBITDA, which excludes Legal and Professional Fees, was much better compared with our previously lowered expectations, $523,000 versus our previously lowered expectations of $293,000.

    Gross margins better than expected.  Gross margins were slightly lower sequentially from the fiscal fourth quarter of 62.3% to close the fiscal first quarter at 60.6%, but the gross margins were better than expected. We estimate that gross margins likely will be higher than our base line estimate of 58% in the second quarter and for the fiscal full year …



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. 

Genco Shipping (GNK) – Tune Into Virtual Transportation Logistics Forum

Thursday, December 16, 2021

Genco Shipping (GNK)
Tune Into Virtual Transportation & Logistics Forum

Genco Shipping & Trading Limited, incorporated on September 27, 2004, transports iron ore, coal, grain, steel products and other drybulk cargoes along shipping routes through the ownership and operation of drybulk carrier vessels. The Company is engaged in the ocean transportation of drybulk cargoes around the world through the ownership and operation of drybulk carrier vessels. As of December 31, 2016, its fleet consisted of 61 drybulk carriers, including 13 Capesize, six Panamax, four Ultramax, 21 Supramax, two Handymax and 15 Handysize drybulk carriers, with an aggregate carrying capacity of approximately 4,735,000 deadweight tons (dwt). Of the vessels in its fleet, 15 are on spot market-related time charters, and 27 are on fixed-rate time charter contracts. As of December 31, 2016, additionally, 19 of the vessels in its fleet were operating in vessel pools.

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

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

    Tune in to hear about Genco Shipping at today’s Transportation & Logistics online forum. CEO John Wobensmith and CFO Apostolos Zafolias will present at 1:00pm EST. Free registration is available at www.channelchek.com

    Presentation should highlight positive 2021 developments.  We expect the presentation to offer a positive view on the dry bulk market fundamentals, while highlighting record 3Q2021 operating results. There are several reasons that GNK remains well positioned, including a bar bell asset strategy that includes Capes and Ultras, solid progress on the fleet renewal program, a successful debt refinancing …



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. 

Release – New Data Suggest COVAXIN (BBV152) Vaccine Candidate Generates Robust Immune Memory



New Data Suggest COVAXIN™ (BBV152) Vaccine Candidate Generates Robust Immune Memory to COVID-19 and Variants of Concern for At Least Six Months After Vaccination

 

Research, News, and Market Data on Ocugen

 

  • Level of vaccine-induced spike and nucleoprotein antibodies titers demonstrated to be comparable to that following natural infection
  • Immune memory against conserved nucleoprotein may provide an added advantage over spike-only responses
  • Memory T and B cells persisted for at least 6 months post vaccination
  • Data suggest COVAXIN™ (BBV152) may provide protection against current and future variants
  • Effectiveness of COVAXIN™ (BBV152) against the Omicron variant is currently being studied

MALVERN, Pa., Dec. 15, 2021 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing novel therapeutics and vaccines, announced that data analyzing immune response following two doses of the vaccine candidate, COVAXIN™ (BBV152), from a third-party study were published on the preprint server, medRxiv. The data compared the immune memory response of 71 vaccinated and 73 naturally infected subjects with SARS-CoV-2, including variants of concern, for up to six months. The study found that COVAXIN™ (BBV152) generated a robust immune memory against spike and nucleoprotein that was comparable to that following natural COVID-19 infection for the levels of antibodies, memory B cells and memory CD4+ T cells.  

In addition to controlling infections, the adaptive immune system creates immunological memory, such as memory B and T cells, to enable long-term protection against a virus. In the analysis, COVAXIN™ (BBV1542) generated T-cells against both spike and nucleocapsid proteins in nearly 85 percent of subjects that persisted for at least 6 months. This data supports previous findings that COVAXIN™ (BBV152) is able to induce long-term memory.

“As a whole-virion inactivated vaccine, we anticipated COVAXIN™ would produce an immune response against multiple antigens present in the SARS-CoV-2 virus, such as spike and nucleoprotein antibodies,” said Shankar Musunuri, PhD, MBA, Chairman of the Board, Chief Executive Officer and Co-Founder of Ocugen.

“The results of this analysis are extremely important findings as we continue to learn about how the virus is mutating and how we can address variants of concern with vaccines, especially with the emergence of Omicron,” said David Fajgenbaum, MD, MBA, MSc, FCPP, Assistant Professor of Medicine in Translational Medicine & Human Genetics at the University of Pennsylvania and member of Ocugen’s Vaccine Scientific Advisory Board. “Given that current variants of concern exhibit mutations concentrated in the spike protein of the virus, vaccines like COVAXIN™ that can generate broad immune memory beyond the spike protein are a promising tool to protect us from emerging variants of concern.”  

Ocugen is currently evaluating COVAXIN™ (BBV152) against the Omicron variant and plans to share the data as soon as they are available.

Earlier this year, Ocugen’s co-development partner, Bharat Biotech, announced data from a Phase 3 trial that included nearly 25,800 participants. In the study, published in The Lancet, COVAXIN™ (BBV152) demonstrated 77.8% overall efficacy, 93.4% efficacy against severe illness (which requires hospitalization, intensive care and/or a ventilator) and 65.2% efficacy against the Delta variant. Adverse events reported in the trial were low, with 12.4% of subjects experiencing commonly known side effects and less than 0.5% of subjects experiencing serious adverse events, which is consistent with data from other vaccines that apply whole-virion technology. Both adverse events and serious adverse events reported in the vaccine group were reported at similar rates to the placebo group.

About COVAXIN™ (BBV152)
COVAXIN™ (BBV152) is an investigational vaccine candidate product in the U.S. It was developed by Bharat Biotech in collaboration with the Indian Council of Medical Research (ICMR) – National Institute of Virology (NIV). COVAXIN™ is a highly purified and inactivated vaccine that is manufactured using a vero cell manufacturing platform.

With more than 125 million doses having been administered to adults outside the U.S., COVAXIN™ is currently authorized under emergency use in 17 countries, and applications for emergency use authorization are pending in more than 60 other countries. The World Health Organization (WHO) recently added COVAXIN™ to its list of vaccines authorized for emergency use. And, as many as 110 countries have agreed to mutual recognition of Covid-19 vaccination certificates with India that includes vaccination using COVAXIN™. The trade name COVAXIN™ has not been evaluated by the FDA.

About Ocugen, Inc. 
Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one to many” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. and Canadian markets. For more information, please visit www.ocugen.com.

About Bharat Biotech 
Bharat Biotech has established an excellent track record of innovation with more than 145 global patents, a wide product portfolio of more than 16 vaccines, 4 bio-therapeutics, registrations in more than 123 countries, and the World Health Organization (WHO) Pre-qualifications. Located in Genome Valley in Hyderabad, India, a hub for the global biotech industry, Bharat Biotech has built a world-class vaccine & bio-therapeutics, research & product development, Bio-Safety Level 3 manufacturing, and vaccine supply and distribution. 

Having delivered more than 4 billion doses of vaccines worldwide, Bharat Biotech continues to lead innovation and has developed vaccines for influenza H1N1, Rotavirus, Japanese Encephalitis, Rabies, Chikungunya, Zika, and the world’s first tetanus-toxoid conjugated vaccine for Typhoid. Bharat’s commitment to global social innovation programs and public-private partnerships resulted in introducing path-breaking WHO pre-qualified vaccines BIOPOLIO®, ROTAVAC®, and Typbar TCV® combatting polio, rotavirus, typhoid infections, respectively. The acquisition of the rabies vaccine facility, Chiron Behring, from GlaxoSmithKline (GSK) has positioned Bharat Biotech as the world’s largest rabies vaccine manufacturer. To learn more about Bharat Biotech, visit www.bharatbiotech.com

Cautionary Note on Forward-Looking Statements  
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such forward-looking statements include statements about data published on the preprint server, medRxiv, which found that COVAXIN™ generated a robust immune memory against spike and nucleoprotein that was comparable to that following natural COVID-19 infection for the levels of antibodies, memory B cells and memory CD4+ T cells, and our expectation that COVAXIN can generate potential long-term immunological memory. This information involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the risk that the data published on medRxiv, which is preliminary and subject to ongoing peer review, may not be accepted for publication without changes, if at all, may contain errors that render the reported information erroneous, or may not be accepted by the scientific or medical community; the risk that we may not resolve the current clinical hold on COVAXIN™ in the near term or at all, or that the FDA could make other decisions that inversely impact our ability to advance the development of COVAXIN™ in the United States, the implications that this clinical hold may have for our request for emergency use authorization for COVAXIN for pediatric use; commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as risks associated with preliminary and interim data, including the possibility of unfavorable new clinical trial data and further analyses of existing clinical trial data; the risk that clinical trial data are subject to differing interpretations and assessments, including during the peer review/publication process, in the scientific community generally, and by regulatory authorities; whether we will be able to provide the FDA with sufficient additional information regarding the design of and results from preclinical and clinical studies of COVAXIN™, which have been conducted by Bharat Biotech in India in order for those trials to support a biologics license application (BLA) or emergency use authorization (EUA); the size, scope, timing and outcome of any additional trials or studies that we may be required to conduct to support a BLA, including our planned Phase 3 clinical trial which is currently subject to clinical hold; any additional chemistry, manufacturing and controls information that we may be required to submit to the FDA; whether developments with respect to the COVID-19 pandemic will affect the regulatory pathway available for vaccines in the United States, Canada or other jurisdictions; decisions by the FDA or Health Canada impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of COVAXIN™ in the United States or Canada, including development of products or therapies by other companies. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release.

Ocugen Contact: 
Ken Inchausti
Head, Investor Relations & Communications
+1 484 237 3398
ken.inchausti@ocugen.com 

Please submit investor-related inquiries to: IR@ocugen.com 

Coeur Mining (CDE) – Exploration Activities Offer a Gold Lining

Wednesday, December 15, 2021

Coeur Mining (CDE)
Exploration Activities Offer a Gold Lining

Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. It is involved in the discovery and mining of gold and silver and generates the vast majority of revenue from the sale of these precious metals. The operating mines of the company are palmarejo, rochester, wharf, and kensington. Its projects are located in the United States, Canada and Mexico, and North America.

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.

    Exploration update. Coeur provided an update on its exploration activities at Rochester in northern Nevada and the Crown properties in southern Nevada. Through October 2021, Coeur drilled 307,925 meters at six different locations and expects full year exploration expenditures of $65 million to $75 million. In late 2021, the company turned its attention to West Rochester, specifically the Gold Ridge and Lincoln Hill zones which could be a source of future higher-grade gold resources and to provide greater optionality for processing material from the larger Rochester district. The West Rochester property includes Lincoln Hill, Independence Hill, and Gold Ridge, and is west of infrastructure under construction as part of the Rochester expansion.

    Expanding the scope at Rochester.  Mapping, sampling, and geophysical surveys supported a focused drilling program over a much larger area at Rochester than undertaken previously. Through October, Coeur drilled 74 holes in the Rochester pit and NV Packard areas. Two rigs recently began drilling at Lincoln Hill and Gold Ridge. In early 2022, Coeur expects to receive approval for a 250-acre drilling …



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.