QuoteMedia (QMCI) – Improving Revenue Picture; Raising Price Target

Friday, November 13, 2020

QuoteMedia (QMCI)

Improving Revenue Picture; Raising Price Target

QuoteMedia, based in Fountain Hills, Arizona, provides cloud-based financial data, market news feeds, and financial software solutions.  Its customers include financial service companies, online brokerages, clearing firms, banks, media portals, public corporations and individual investors.  The company provides a single source solution providing products such as streaming quotes, charting, historical data, technical analysis, news and research.  Information can customized and provided to multiple platforms including terminals and mobile devices.

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

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

    Positive revenue upturn. Q3 revenue growth reflected an acceleration from Q2, 6.0% versus 1.5%, an indication that the company’s investments into new products are paying dividends. Revenues were better than our estimate, $3.14 million versus $3.04 million. Cash flow, as measured by adjusted EBITDA, was $271,000, better than our $222,000 estimate.

    Gross margins took a tumble.  Gross margins were 45.7% reflecting a shift in revenue mix toward lower margins. We expect that gross margins should improve somewhat in Q4 as the revenue mix shifts more favorably toward its Corporate Quotestream and Interactive products …



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. 

Harte-Hanks Inc. (HRTH) – A Nice Upside Surprise; Raise Full Year Estimates

Friday, November 13, 2020

Harte-Hanks Inc. (HRTH)

A Nice Upside Surprise; Raise Full Year Estimates

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

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

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

    Q3 outperforms. Q3 revenues of $47.7 million was significantly better than our $43.8 million estimate driven by a one-time project in its customer care/call center. We estimate that the one-time project contributed roughly $5 million in the quarter, or the variance to our Q3 revenue estimate. Notably, Q3 represented a sequential quarterly revenue improvement from Q2. Due to earlier cost cuts, the company over achieved our cash flow estimate, with adjusted EBITDA of $3.2 million versus our $2.2 million estimate.

    Driving efficiencies.  While revenue trends appear to be improving, management continues to drive operating efficiencies, with facility consolidations and further cost cuts. We believe these measures should allow the company to show strong cash flow growth in 2021. At this time, we are maintaining our 2021 estimates, although we believe that the company could over achieve our cash flow estimate with …



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. 

Salem Media (SALM) – A Nice Political Boost; Raising Estimates

Friday, November 13, 2020

Salem Media (SALM)

A Nice Political Boost; Raising Estimates

Salem Media Group is America’s leading radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and family-themed content and conservative values. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to approximately 2700 affiliates; Salem Radio Representatives, a national radio advertising sales force; Salem Web Network, a leading Internet provider of Christian content and online streaming; and Salem Publishing, a leading publisher of Christian themed magazines. Salem owns and operates 115 radio stations, with 73 stations in the nation’s top 25 top markets – and 25 in the top 10. Each of our radio properties has a full portfolio of broadcast and digital marketing opportunities.

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

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

    A solid quarter. The company exceeded both revenue and cash flow expectations in its third quarter results, driven in part by strong Political advertising. Total company revenues were $60.6 million, 6% better than our $57.1 million estimate. Cash flow, as measured by adjusted EBITDA, was $9.6 million, a strong 25% above our $7.7 million estimate.

    A Political boost.  The latest results benefited from extraordinary Political advertising, which was $1.9 million. Political was well ahead of the mid term elections in Q3 2018 at $1.2 million and the last general election in Q3 2016 of $1.5 million. Management indicated that Q4 Political advertising will be north of $2 million, which will likely get another boost from the run-off Senate elections …



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. 

PDS Biotechnology Corp (PDSB) – 3Q Update: Phase 2 Study in Head and Neck Cancer is Initiated

Friday, November 13, 2020

PDS Biotechnology Corp (PDSB)

3Q Update: Phase 2 Study in Head and Neck Cancer is Initiated

PDS Biotechnology Corp operates as a clinical stage biotechnology company, principally involved in drug discovery in the United States. It is primarily engaged in the treatment of various early-stage and late-stage cancers, including head and neck cancer, prostate cancer, breast cancer, cervical cancer, anal cancer, and other cancers. Its products are based on the proprietary Versamune platform technology, which activates and directs the human immune system to unleash a powerful and targeted attack against cancer cells.

Ahu Demir, Ph. D., Biotechnology Research Analyst, Noble Capital Markets, Inc.

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

    First company-sponsored Phase 2 study is initiated. PDS Biotechnology reported 3Q results and provided updates on the ongoing progress of its pipeline. The company initiated the first company-sponsored Phase 2 clinical trial VERSATILE 002 assessing PDS0101 in combination with checkpoint inhibitor Keytruda for the treatment of in first-line recurrent or metastatic, HPV16-positive head and neck cancers. Safety data is expected to complete in Q2 2021.

    Q3 2020 results.  In 3Q, PDS’s net loss was $3.9 million. In the 9-months of 2020, net loss was $10.9 million, which is in line with our estimates of $14.8 million in operating loss in F2020. The company ended the quarter with $33.5 million in cash and cash equivalents. Earnings per shares (EPS) loss was ($0.23) in the quarter. Updating shares outstanding, we now forecast ($0.91) in EPS in F2020 …



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. 

One Stop Systems Inc. (OSS) – 3Q Results Exceed Expectations

Friday, November 13, 2020

One Stop Systems Inc. (OSS)

3Q Results Exceed Expectations

One Stop Systems Inc is US-based company which is principally engaged in designing, manufacturing, marketing high-end systems for high performance computing (HPC) applications. The company offers custom servers, compute accelerators, solid-state storage arrays and system expansion systems. The product line of the company includes GPU Appliances, GPU Expansion, GPUs and co-processors, Flash storage arrays, Flash storage expansion, Servers, Disk Arrays, Desktop computing appliances, accessories and parts. The company delivers high-end technology to customers through the sale of equipment and software for use on their premises or through remote cloud access to secure data centres housing technology.

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

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

    3Q20 Results. One Stop Systems reported third quarter revenue of $13 million, up 12% sequentially, down 13% y-o-y, and above guidance. Net income was up 57% to $858,000, or $0.05 per share. On an adjusted EPS basis, 3Q20 diluted EPS was $0.07 versus diluted adjusted EPS of $0.05 for 3Q19. Results exceed our and consensus expectations. We were at $12.5 million of revenue and EPS of $0.01, while consensus was $12.3 million and breakeven, respectively.

    COVID Impacts.  Management attempted to quantify the impact COVID has had on the top line. Year to date, revenues are running nearly $10 million below what management had projected at the beginning of the year. Nearly half of the shortfall is from OSS’ largest customer. On the positive side, most of this revenue should be recouped once the pandemic passes …



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. 

Dyadic International Inc. (DYAI) – Q3 EPS: More to come over the next 12 months

Friday, November 13, 2020

Dyadic International Inc. (DYAI)

Q3 EPS: More to come over the next 12 months

Dyadic International, Inc. is a global biotechnology company which is developing what it believes will be a potentially significant biopharmaceutical gene expression platform based on the industrially proven hyper productive engineered fungus Thermothelomyces heterothallica (formerly Myceliophthora thermophila), named C1.

The C1 microorganism, which enables the development and large scale manufacture of low cost proteins, has the potential to be further developed into a safe and efficient expression system that may help speed up the development, lower production costs and improve the performance of biologic vaccines and drugs at flexible commercial scales. Dyadic is using the C1 technology and other technologies to conduct research, development and commercial activities for the development and manufacturing of human and animal vaccines and drugs, such as virus like particles (VLPs) and antigens, monoclonal antibodies, Fab antibody fragments, Fc-Fusion proteins, biosimilars and/or biobetters, and other therapeutic proteins. Dyadic pursues research and development collaborations, licensing arrangements and other commercial opportunities with its partners and collaborators to leverage the value and benefits of these technologies in development and manufacture of biopharmaceuticals. In particular, as the aging population grows in developed and undeveloped countries, Dyadic believes the C1 technology may help bring biologic vaccines, drugs and other biologic products to market faster, in greater volumes, at lower cost, and with new properties to drug developers and manufacturers, and improve access and cost to patients and the healthcare system, but most importantly save lives.

Ahu Demir, Ph. D., Biotechnology Research Analyst, Noble Capital Markets, Inc.

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

    Preclinical data is expected near the year-end. Dyadic reported 3Q financials that were largely uneventful given the preclinical nature of the company. The company maintains a strong cash position ($30 million at the end of Q3 20) and low cash burn, which remains a bright spot for investors.

    Dyadic continues to make progress across the breadth of its programs.  Multiple additional partnerships or expansion of collaborations in various modalities and therapeutic areas (human and animal health) were established in the third and fourth quarters. As the coronavirus programs derive attention from the investors and collaborators (nine collaborations), management highlighted preclinical data …



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. 

Will There be Mergers in the Utility Industry?

 

Utility Mergers May Be Reheating After Pausing for the Pandemic

 

NextEra Energy (NEE) made an all-stock acquisition offer for Evergy (EVRG) earlier this week. It has been reported that Evergy quickly dismissed the $60 per share offer as inadequate. The offer comes after NextEra, the world’s largest wind and solar power producer, was rebuffed in its attempt to acquire Evergy last spring and Duke Energy (DUK) in September. Evergy is under pressure from one of its shareholders, Elliot Management, to consider consolidation.

Merger activity was picking up before the pandemic – Utility merger activity had been increasing steadily between 2012-2016.  Activity remained at a fervid pace in recent years. In 2017 Sempra Energy (SRE) acquired Oncor, the regulated utility unit of TXU. In 2018, Great Plains Energy and Westar Energy merged to form Evergy, Inc. In 2019 Dominion Energy (D) closed its acquisition of SCANA, and Centerpoint Energy (CNP) absorbed Vectren. This year, however, has largely been characterized by merger offers but no agreements.

 

 

Merger agreements among regulated assets are difficult to justify – Under cost-of-service rate-making, utility rates are set to recover costs and leave a little leftover to compensate investors. Cost reductions through a merger or other means often face a reduction in rates. Consequently, it is difficult to pay a market premium without it being highly dilutive to earnings without cost savings. Combining noncontiguous service areas limits cost reductions beyond headquarter reductions. Merger savings must come from unregulated operations. Hostile takeovers among utilities are extremely rare because they require regulatory approval. NextEra CEO James Robo said on September 30, 2020, that he would not pursue hostile acquisitions because major deals could only clear regulatory hurdles if companies worked co-operatively.

History of utility mergers – In the nineties, there was a wave of merger activity among utilities. Mergers typically took the form of a large electric utility taking over its neighboring smaller gas utility. The thought process was that the company that owned the meter rights owned the customer. At the time, there was a belief that utilities could use that connection to sell customers unregulated products. Products such as appliance repair service agreements had become popular. In addition, natural gas service was becoming unbundled, allowing customers the ability to buy gas from a third party and then pay the utility solely for the distribution service. Utilities began forming their own unregulated marketing subsidiaries, often with names similar to the regulated utility name. Utilities needed to acquire, merge, or sell out to control enough metered customers to compete. Over time, regulators tightened the rules regarding the sale of unregulated services to utility customers.

Why has merger activity increased? Around the turn of the century, electric utility service also started to become unbundled. Large customers could purchase power from marketers or even self-generate via cogenerations. The shift away from traditional utility operations has continued with the spread of renewable power generation. Utilities like NextEra that have focused on wind generation have seen their stock price soar while utilities stuck with stranded coal generation assets have seen their stock underperform. That has given currency to the winners in the form of a high stock price.

Will merger activity reignite? COVID-19 and the resulting shutdown of the economy have made acquisitions difficult in all industries. Having a good sense of the true cash flow of an asset to acquire is difficult during normal situations and close to impossible under current situations. The fact that companies are even considering making an acquisition is a clear sign that the appetite for acquiring is there. As pandemic concerns began to wane with signs of a possible vaccine, it is reasonable to think that merger activity will pick up again. We look for 2021 to be a busy year for utilities.

 

Suggested Reading:

Will Solar Panels Continue to be Subsidized?

Will M&A Activity Spread to Canada?

Mergers Within the energy Industry are Heating Up

 

Each event in our popular Virtual Road Shows Series has a maximum capacity of 100 investors online. To take part, listen to and perhaps get your questions answered, see which virtual investor meeting intrigues you here.

 

Sources:

https://www.forbes.com/sites/greatspeculations/2020/06/21/evergy-inc-the-latest-phase-of-utility-ma/?sh=2c34d7374671, Roger Conrad, Forbes, June 21, 2020

https://www.utilitydive.com/news/nextera-mulls-bid-for-evergy-amid-market-volatility-may-face-competing-off/575675/, Iulia Gheorghiu, Utility Dive, April 8, 2020

https://www.reuters.com/article/us-evergy-m-a-nextera-energy-exclusive/exclusive-nextera-energy-in-15-billion-bid-for-evergy-sources-idUSKBN27P2S8, David French, Reuters, November 9, 2020

Photo: Skyspecs

 

Release – Lineage Cell Therapeutics (LCTX) – Video – Utilizing Pluripotent Stem Cells In Cell Therapy

 

Utilizing pluripotent stem cells in cell therapy

 

In this episode of Conversations in Healthcare, Mike Ward, Global Head of Thought Leadership at DRG, speaks with Brian Culley, CEO of Lineage Cell Therapeutics. Brian and Mike discuss the company’s cell therapy program, utilizing pluripotent stem cells, initially targeting dry age-related macular degeneration, acute spinal cord injuries, and non-small cell lung cancer. Brian shares about the status of their Phase 1/2a clinical trials, and how COVID-19 has affected the company’s operations. Learn more in the full episode.

 

 

Release – Lineage Cell Therapeutics (LCTX) – Completes Patient Enrollment In Phase 1-2A Clinical Study Of Opregen Cell Therapy

 

Lineage Cell Therapeutics Completes Patient Enrollment In Phase 1/2a Clinical Study Of Opregen® Cell Therapy For The Treatment Of Dry Age-Related Macular Degeneration

 

  • OpRegen Data Update to be Featured in Presentation by Principal Investigator Christopher D. Riemann, M.D., at 2020 AAO Annual Meeting on November 15, 2020
  • Therapeutic Expert Call to Discuss Results Scheduled for November 17, 2020 @ 4pm ET/1pm PT

CARLSBAD, Calif.–(BUSINESS WIRE)–Nov. 11, 2020– Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing three novel cell therapies for serious conditions, today announced the successful completion of enrollment in its 24-patient Phase 1/2a study of its lead product candidate, OpRegen®. OpRegen is an investigational cell therapy consisting of retinal pigment epithelium (RPE) cells administered to the subretinal space for the treatment of dry age-related macular degeneration (AMD) with geographic atrophy (GA). Updated interim results from the ongoing Phase 1/2a study will be presented at the 2020 American Academy of Ophthalmology Annual Meeting (AAO 2020) during the OP02V Retina, Vitreous Original Papers Session on November 15, 2020 at 10:40am Eastern Time / 7:40 am Pacific Time by Christopher D. Riemann, M.D., Vitreoretinal Surgeon and Fellowship Director, Cincinnati Eye Institute and University of Cincinnati School of Medicine. Dr. Riemann also will participate in a call to discuss the interim results on November 17, 2020 at 4:00 pm Eastern Time / 1:00 pm Pacific Time. Interested parties can access the event on the Events and Presentations section of Lineage’s website.

“Completion of patient enrollment in our OpRegen study is a significant achievement for our team and reflects the focused commitment we have made to advancing our three cell therapy product candidates. We believe the potential for transplanted cells to safely and durably treat serious diseases and conditions, particularly where traditional molecular approaches have failed, will usher in a new treatment paradigm for modern medicine. Demonstrating this potential in clinical trials is a vital step in that process and we are thankful to have reached this important milestone,” stated Brian Culley, CEO. “As a result of increased awareness of our study and promising data we reported recently, including the first known demonstration of retinal tissue restoration in a clinical setting, we were able to enroll and treat the final five patients in cohort 4 in just five weeks. We also surpassed our original goal by utilizing the Gyroscope Orbit SDS in 7 of the last 9 patients. We extend our gratitude to the participating patients, their families, and the study investigators and coordinators in both the US and Israel. With this milestone reached, our focus turns toward collecting safety and efficacy data on the most recently treated patients, evaluating options for later-stage clinical development, including with potential partners, and approaching the FDA to discuss our next steps. Our objective is to position the OpRegen program as a front-runner in the race to address an unmet need in what is widely expected to be a multi-billion-dollar dry AMD therapeutic market.”

About OpRegen

OpRegen is currently being evaluated in a Phase 1/2a open-label, dose escalation safety and efficacy study of a single injection of human retinal pigment epithelium cells derived from an established pluripotent cell line and transplanted subretinally in patients with advanced dry AMD with GA. The study enrolled 24 patients into 4 cohorts. The first 3 cohorts enrolled only legally blind patients with best corrected visual acuity (BCVA) of 20/200 or worse. The fourth cohort enrolled patients with vision as high as 20/64. Cohort 4 also included patients treated with a new “thaw-and-inject” formulation of OpRegen, which can be shipped directly to sites and used immediately upon thawing, removing the complications and logistics of having to use a dose preparation facility. The primary objective of the study is to evaluate the safety and tolerability of OpRegen as assessed by the incidence and frequency of treatment emergent adverse events. Secondary objectives are to evaluate the preliminary efficacy of OpRegen treatment by assessing the changes in ophthalmological parameters measured by various methods of primary clinical relevance. Additionally, for the patients in Cohort 4 that receive subretinal delivery of OpRegen utilizing the Gyroscope Orbit Subretinal Delivery System (Gyroscope Orbit SDS), objectives will include the evaluation of the safety of delivery of OpRegen using the Gyroscope Orbit SDS.

Recently, Lineage reported the first known finding of retinal tissue regeneration in a patient receiving OpRegen for the treatment of atrophic dry AMD. This unprecedented finding supports the view that dry AMD is not an irreversible, degenerative condition and that some portion of diseased retinal tissue may be recoverable in atrophic end-stage disease patients. These findings were initially observed by an independent external advisor using multiple imaging technologies and were subsequently confirmed by the reading center and additional experts in the field of retinal imaging. The Company also has observed evidence of benefit in other patients, including increases in Best Corrected Visual Acuity (BCVA), reduction in the growth of GA, and increases in reading speed.

OpRegen is a registered trademark of Cell Cure Neurosciences Ltd., a majority-owned subsidiary of Lineage Cell Therapeutics, Inc.

About Dry AMD

Dry age-related macular degeneration (AMD) is a leading cause of adult blindness in the developed world. There are two forms of AMD: wet AMD and dry AMD. Dry AMD is the more common of the two types, accounting for approximately 85-90% of cases. Wet AMD is the less common of the two types, accounting for approximately 10-15% of cases. Global sales of the two leading wet AMD therapies were in excess of $10 billion in 2019. Nearly all cases of wet AMD begin as dry AMD. Dry AMD typically affects both eyes. There are currently no U.S. Food and Drug Administration (FDA) or European Medicines Agency (EMA) approved treatment options available for patients with dry AMD.

About Lineage Cell Therapeutics, Inc.

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

Forward-Looking Statements

Lineage cautions you that all statements, other than statements of historical facts, contained in this press release, are forward-looking statements. Forward-looking statements, in some cases, can be identified by terms such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,” “could,” “plan,” “potential,” “predict,” “seek,” “should,” “would,” “contemplate,” project,” “target,” “tend to,” or the negative version of these words and similar expressions. Such statements include, but are not limited to, statements relating to the potential for cell therapy generally and the expected addressable market for OpRegen. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Lineage’s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including risks and uncertainties inherent in Lineage’s business and other risks in Lineage’s filings with the Securities and Exchange Commission (the SEC). Lineage’s forward-looking statements are based upon its current expectations and involve assumptions that may never materialize or may prove to be incorrect. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. Further information regarding these and other risks is included under the heading “Risk Factors” in Lineage’s periodic reports with the SEC, including Lineage’s Annual Report on Form 10-K filed with the SEC on March 12, 2020 and its other reports, which are available from the SEC’s website. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Lineage undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Lineage Cell Therapeutics, Inc. IR
Ioana C. Hone
([email protected])
(442) 287-8963

Solebury Trout IR
Gitanjali Jain Ogawa
([email protected])
(646) 378-2949

Russo Partners – Media Relations
Nic Johnson or David Schull
[email protected]
[email protected]
(212) 845-4242

Source: Lineage Cell Therapeutics, Inc.

Release – Newrange Gold (NRGOF) – Updates Drill Program at Pamlio Project

Newrange Gold Updates Drill Program at Pamlio Project

 

VANCOUVER, BRITISH COLUMBIA, November 12, 2020 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to provide an update on the reverse circulation (RC) drill program at the Pamlico Gold Project in Nevada. Since commencing the program in late May, the Company has drilled 65 holes (including two that had to be re-drilled) for a total of 6,538.04 meters. Assay results for the last 26 of these holes are still pending. Given this backlog of assays, the Company is taking a short hiatus in the drill program in order to compile the incoming results and plan a follow-up program.

Since switching rigs in September, drilling has been going well and the Company has drilled seven holes in each of the Gold Box Canyon and Merritt areas, eight at the Good Hope Mine, six at the Gold Bar and Pamlico Mines and two on IP anomalies.

The detailed location of upcoming holes, meters to be drilled and the relative amounts of RC versus diamond drilling will be determined once assay results have been interpreted. However, the Company expects to drill at least another 3,000 meters in approximately 20 holes that range in depth from 75 to 465 meters, following up on the recent drilling and with multiple holes planned to test the large Line 5 chargeability anomaly near the center of the property. It is anticipated that drilling will recommence on or about December 5.

About Pamlico

Located 12 miles southeast of Hawthorne, Nevada, along US Highway 95, the project enjoys excellent access and infrastructure, a mild, year-round operating climate and strong political support from Mineral County, one of the most pro-mining counties in the pro-mining state of Nevada. The Pamlico project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Gold Bar and Sunset mines.

Discovered in 1884, the district rapidly gained a reputation as being one of Nevada’s highest-grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration.

About Newrange Gold Corp.

Newrange is a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Ontario and Colorado. With numerous drill intercepts of near surface oxide gold mineralization to 340 grams gold per metric tonne, the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.

Signed: “Robert Archer”
CEO & Director

For further information contact:
Sharon Fleming
Corporate Communications
Phone: 760-898-9129
Email: [email protected]

Dave Cross
Chief Financial Officer and Corporate Secretary
Phone: 604-669-0868
Email: [email protected]

Website: www.newrangegold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement: Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.

FAT Brands Inc. (FAT) – Good Results Tempered by COVID Johnny Rockets to Impact Fourth Quarter

Thursday, November 12, 2020

FAT Brands Inc. (FAT)

Good Results Tempered by COVID; Johnny Rockets to Impact Fourth Quarter

FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo’s Cafe and Express, and Ponderosa and Bonanza. The company’s overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.

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

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

    3Q20 Results. Total revenue was $4.1 million, down from $6.5 million last year. Lower royalties and franchise fees were the key drivers. Net loss was $568,000, or $0.05 per share, compared to net income of $1.2 million, or $0.10 per share last year. We had forecast revenue of $3.6 million and a net loss of $1.6 million, or $0.11 per share.

    Sales Improving But Not Yet Back to Pre-Covid Levels.  Systemwide sales increased 53% sequentially, improving each month of the quarter, but the $73.1 million 3Q total was below the $84.7 million in the first quarter. Roughly 21% of the existing store count remains closed, mostly concentrated in the steak houses and Johnny Rockets. If COVID restrictions continue to ease, we expect the majority of …



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. 

Palladium One Mining Inc. (NKORF)(PDM:CA) – Building Scale at the Palladium-Dominant LK Project

Wednesday, November 11, 2020

Palladium One Mining Inc. (NKORF)(PDM:CA)

Building Scale at the Palladium-Dominant LK Project

Noble Capital Markets research on Palladium One Mining is published under ticker symbols (NKORF and PDM:CA). The price target is in USD and based on ticker symbol NKORF. Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

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.

    Phase II drilling program begins this week. Palladium One announced plans to begin a 17,500-meter Phase II drilling program on November 13 at its Lantinen Koillismaa (LK) project in Finland. The Phase II program is designed to support a future inferred resource estimate at the Kaukua South Zone, which has a drill defined mineralized strike length greater than 4 kilometers, and better define open-pit resources. The Phase I program, completed in September, entailed drilling 26 holes representing 4,486 meters of drilling.

    Initial focus will be on a wide zone of shallow high-grade mineralization.  The initial stage of the Phase II program will entail approximately 2,500 meters of diamond drilling to be completed before year-end and will target a 750-meter long high-grade section located between Holes LK20-006 and LK20-016. Of the discovery holes drilled at Kaukua South, bore hole LK20-016 is the highest grade drilled …



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. 

Gevo Inc. (GEVO) – 3Q2020 Capital Raises Enhance Funding Visibility and Project Financing Discussions Progressing

Wednesday, November 11, 2020

Gevo, Inc. (GEVO)

3Q2020 Capital Raises Enhance Funding Visibility and Project Financing Discussions Progressing

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

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

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

    Adjusted 3Q2020 EBITDA of $(4.0) million widened versus $(3.1) million in 2Q2020 due to idling Luverne plant, but cash burn dropped. Lower cost structure pushed cash burn down to $3.9 million from $4.7 million. Current 2020 EBITDA loss estimate is $16.7 million and 4Q2020 cash burn should stay in the $4 million range.

    Current cash of ~$81 million enhances near-term funding visibility, including repayment of maturing convertible debt.  3Q2020 capital raises of $62 million from equity offerings and $16 million from warrant exercises enhanced the funding visibility and reduced financial risk. Design and engineering (FEED) phase to fully develop/construct the three production plants has started and the influx of cash …



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.