AZZ Inc. (AZZ) – Fiscal 2024 4Q and year results meet expectations


Tuesday, April 23, 2024

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

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

Seasonal decline was less due to warm weather. Precoat Metals reported strong results as construction sale benefitted from warm weather. Appliance sales were also strong.

Margins continue to improve steadily as increased sales are spread over fixed costs. Consolidated margins dipped slightly with the shift towards lower-margin Precoat Metal sales, but the overall trend continues to rise.


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*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 – Home Collectible Brand Longaberger Weaves Two Iconic American Brands Together With Its Newest Crayola Collaboration

Research News and Market Data on XELB

April 22, 2024 at 10:00 AM EDT

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Longaberger x Crayola Home Accessories Collection to exclusively launch on Longaberger.com

NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) — Longaberger and Crayola are excited to introduce a new partnership and the launch of their home accessory collection. The collection features vibrant, fun designs that embody the spirit of creativity. This collection will launch exclusively on Longaberger.com.

Tailored for spring and year-round happiness, this new collection introduces four captivating baskets in multiple colorways. Elevating our basket designs through creative expression creates a selection perfect for collectors—Crayola and Longaberger lovers alike. Each basket features distinct Crayola characteristics, iconic Crayola colors, and hand-woven craftmanship.

“We are thrilled to see this partnership come to life with the first Longaberger x Crayola Collection. This collaboration will inspire creativity, promote self-expression, and bring color, the greatest luxury, into your home,” shared Joe Falco, President, Chief Merchandising Officer of Xcel Brands. 

“Crayola is known for inspiring creativity through color. This collaboration combines Longaberger’s signature style and design with Crayola’s iconic shape and colors for a collection that is imaginative, one of a kind, joyful,” said April Heeren, General Manager, Crayola Outbound Licensing.

Longaberger has been transforming houses into homes since 1896, providing both functionality and beauty to its customers. This partnership highlights the colorful elements of Crayola with the history of Longaberger. Together, we are fostering a creative connection in an innovative but familiar way. These baskets are the perfect vessels to bring color into your home, and inspire creativity, fun and self-expression.

About Longaberger
Longaberger, founded by Dave Longaberger in 1973, is an American home collectibles brand known for artisanal handcrafted products. For generations, Longaberger has manufactured handmade maple baskets and home products that are collected by a loyal community of customers. In 2019, Xcel Brands acquired The Longaberger Company and launched with a new digital social selling business model, offering timeless and modern décor products that inspire a highly engaged community. To join the Longaberger Family as a Home & Life Stylist Influencer, visit longaberger.com/join and for more company information, visit the website at longaberger.com or on social media at @longaberger, #longaberger and #thelongabergerfamily.

About Xcel Brands

Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, marketing, live streaming, social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as one thing. Xcel owns the Judith Ripka, Halston, LOGO by Lori Goldstein, and C. Wonder by Christian Siriano brands and a minority stake in the Isaac Mizrahi brand. It also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC and a 50% interest in a JV in TWRHLL (“Tower Hill”) by Christie Brinkley. Also, Xcel owns a 30% interest in Orme, a short-form video marketplace. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retail, and e-commerce channels to be everywhere its customer’s shop. The company’s brands have generated in excess of $4 billion in retail sales via livestreaming in interactive television and digital channels alone. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. www.xcelbrands.com.

About Crayola
Crayola LLC, based in Easton, Pa. and a business of Hallmark Cards, Inc., is the worldwide leader in children’s creative expression products. Known for the iconic Crayola Crayon first introduced in 1903, the Crayola brand has grown into a portfolio of innovative art tools, crafting activities, and creativity toys that offer children innovative new ways to use color to create everything imaginable. Consumers can find the wide array of Crayola products in the “Crayola Aisle” at all major retailers. For more information, visit www. crayola.com or join the community at www.facebook.com/crayola.

MEDIA CONTACT:
Marina Sacramone
Marketing & Social Media Director at Xcel Brands
msacramone@xcelbrands.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4c286bb8-a7f4-4a55-b7be-224c448336c5

Source: Xcel Brands, Inc

Release – ISG Expands Modern Slavery Advisory and Risk Management Service to Canada

Research News and Market Data on III

4/22/2024

Service leverages ISG GovernX® platform to help enterprises comply with the ‘Fighting Against Forced Labour and Child Labour in Supply Chains’ Act

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has expanded its dedicated modern slavery advisory and risk management service to Canada, to help enterprises located in and selling to businesses and consumers in Canada comply with the new “Fighting Against Forced Labour and Child Labour in Supply Chains Act.”

The new law came into effect on January 1, 2024, requiring companies that sell, produce, distribute or import goods and are either listed on a Canadian stock exchange or have $20 million in assets, 250 employees and/or $40 million in annual revenue, to submit an annual statement by May 31, detailing efforts to ensure forced and child labor are not used in their business and supply chains, or face fines of up to $250,000.

“The Canadian government has put in place some of the strictest legislation to date to fight the scourge of forced and child labor, imposing meaningful penalties for failure to comply and personal liabilities for company directors and officers,” said Hanne McBlain, senior director, and head of ISG’s global efforts to comply with legislation and anti-slavery efforts. “Most Canadian companies and global companies that operate in or sell to Canada will need to submit an extensive questionnaire by May 31 to be in compliance.”

Supplier management that is thorough enough to ensure compliance with the legislation cannot be done without the help of automation and technology, McBlain said. All modern slavery laws, including the newest one in Canada, require businesses to detail their efforts to audit their suppliers for slavery risks and the specific policies, procedures and training they have put in place to assess the integrity of their supply chains. However, many organizations have thousands of suppliers, making manual mapping and monitoring impossible.

The ISG modern slavery offering combines advisory services with the automated capabilities of ISG GovernX®, the industry’s only governance solution that integrates contract information, strategic relationship management and real-time risk monitoring to help clients manage their supplier ecosystems.

ISG has been addressing modern slavery legislation since 2018, when it first drew legislative focus. The firm has created and implemented a global framework to ensure ISG itself is not linked to modern slavery risks and has developed an in-depth knowledge of legislation and associated requirements while working to meet obligations in Australia, France, Germany, the Netherlands, the U.K., Norway, California and Canada.

ISG advisors help clients develop a modern slavery framework, review and update policies across the enterprise, conduct training, map their entire supply chain, and add modern slavery clauses to contract templates.

The ISG GovernX platform automatically sends assessments to each supplier requiring them to provide information on their modern slavery framework, reporting, policies and training, and monitors external data feeds for all potential risks within the specific supplier ecosystem and the broader marketplace. Users can add a variety of external intelligent workflows to identify and categorize each risk, alert the appropriate functions, and trigger automated responses, including targeted risk assessments to the suppliers involved.

Additional information on ISG third-party risk management and modern slavery advisory services is available on the ISG website.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Source: Information Services Group, Inc.

Release – Labrador Gold Announces Sale of Kingsway Project

Research News and Market Data on NKOSF

APRIL 22, 2024

TORONTO, April 22, 2024 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“ LabGold ” or the “ Company ”) is pleased to announce that it has entered into a property purchase agreement (the “ Definitive Agreement ”) with New Found Gold Corp. (“ NFG ”), whereby NFG will acquire a 100% interest in the Kingsway Project, including all property and mining rights associated with the property, (the “ Transaction ”) in exchange for $20,000,000 CAD (the “ Purchase Price ”) payable and satisfied by the delivery to LabGold of such number of NFG Common Shares (the “ Consideration Shares ”) determined by dividing the Purchase Price by the closing price of the NFG Common Shares on the TSX Venture Exchange (“ TSXV ”) on the last trading day prior to the closing of the Transaction. The Consideration Shares will be subject to a resale restriction of four months and one day from the closing of the Transaction.

“The LabGold team has worked hard over the last four years to generate and test targets along the prospective Appleton Fault Zone. This work resulted in the discovery of seven gold occurrences from the nine targets drill tested, a 78% success rate,” said Roger Moss, President and CEO of Labrador Gold. “As shown in the recently completed NI43-101 Technical Report, a number of untested targets remain on the property, in addition to potential extensions of many of the gold occurrences. However, we understand the significant amount of drilling required to make these discoveries and we are happy that New Found Gold is proposing to take up the challenge at Kingsway. We believe that their experience at Queensway to the south will be critical as they explore the Kingsway Project and demonstrate the true potential of the district,” Moss added.

LabGold’s board of directors has unanimously recommended that LabGold’s shareholders vote in favour of the Transaction. The directors and officers of LabGold have entered into voting and support agreements with NFG, pursuant to which they have agreed, among other things, to vote their shares in favour of the Transaction.

The Transaction is expected to close in the third quarter of 2024 and is subject to customary conditions, including receipt of necessary regulatory and stock exchange approvals and approval from a 66 2/3% majority of the votes cast by LabGold Shareholders at the next annual general and special meeting of LabGold to be scheduled for early July, 2024.

The Definitive Agreement includes customary deal-protection provisions. LabGold has agreed not to solicit or initiate any discussion regarding any other business combination or acquisition. In the event that LabGold validly terminates the Definitive Agreement to accept a Superior Proposal (as defined in the Definitive Agreement), LabGold will be required to pay NFG a termination fee of $500,000.

Additional information regarding this proposed Transaction will be provided in the management information circular that will be mailed to registered shareholders and filed on SEDAR at www.sedarplus.com.

The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

About Labrador Gold

Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada. Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The four licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with numerous gold occurrences in the region. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold’s drilling targeting high-grade epizonal gold mineralization along the Appleton Fault Zone has outlined seven gold prospects to date. The Company has approximately $6.5 million in working capital.

The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt. Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 170,009,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

: @LabGoldCorp

This News Release should not be considered a comprehensive summary of the Transaction. Additional information will be disseminated at a future date. Completion of the Transaction is subject to a number of conditions including, but not limited to, TSXV approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

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

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Release – DLH to Announce Fiscal 2024 Second Quarter Financial Results

Research News and Market Data on DLHC

April 22, 2024

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ATLANTA, April 22, 2024 (GLOBE NEWSWIRE) — DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading healthcare and human services provider to the federal government, will release financial results for the fiscal second quarter ended March 31, 2024 on May 1, 2024 after the market closes. DLH will then host a conference call for the investment community at 10:00 a.m. Eastern Time the following day, May 2, 2024, during which members of senior management will make a brief presentation focused on the financial results and operating trends. A question-and-answer session will follow. 

Interested parties may listen to the conference call by dialing 888-347-5290 or 412-317-5256. Presentation materials will also be posted on the Investor Relations section of the DLH website prior to the commencement of the conference call. A digital recording of the conference call will be available for replay two hours after the completion of the call and can be accessed on the DLH Investor Relations website or by dialing 877-344-7529 and entering the conference ID 2520402.

About DLH
DLH (NASDAQ: DLHC) enhances technology, public health, and cyber security readiness missions through science, technology, cyber, and engineering solutions and services. Our experts solve some of the most complex and critical missions faced by federal customers, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 3,200 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to innovative solutions to improve the lives of millions. For more information, visit www.DLHcorp.com.

INVESTOR RELATIONS
Contact: Chris Witty
Phone: 646-438-9385
Email: cwitty@darrowir.com

Is Elon Musk Transforming Tesla Into an AI Company?

In the rapidly evolving world of technology, Elon Musk and Tesla are shaking things up with what appears to be a strategic shift towards artificial intelligence (AI) and robotics. As electric vehicle (EV) demand cools in 2024, Tesla seems to be pivoting its focus to autonomy, Full Self-Driving (FSD), and its hotly anticipated robotaxi program. This potential redirection has piqued the interest of investors, particularly those hunting for undervalued and overlooked opportunities among small and micro-cap stocks.

The signs of transformation at Tesla have been mounting. Most notably, the company recently announced layoffs impacting over 10% of its global workforce, with key executives departing in what Musk framed as part of the “next phase of growth.” Compounding the speculation, reports emerged that Tesla shelved plans for its $25,000 next-generation Model 2 vehicle to prioritize the robotaxi initiative instead.

Musk himself has stoked the flames, proclaiming on Twitter that “Tesla is an AI/robotics and sustainable energy company.” This bold statement marks a clear departure from Tesla’s automotive roots, signaling that a broader pivot to artificial intelligence may be underway.

Analysts tracking the company have been sounding alarms. Emmanuel Rosner at Deutsche Bank believes Tesla’s future now hinges on “cracking the code on full driverless autonomy” – a formidable challenge layered with significant technological, regulatory and operational hurdles. Morgan Stanley’s Adam Jonas went so far as to say “it seems” Tesla is exiting the traditional EV auto industry altogether, though he doesn’t expect vehicle production to cease immediately.

For investors, particularly those scouring small and micro-cap stocks for overlooked gems, Tesla’s AI ambitions could foreshadow seismic shifts ahead. Analysts warn of a “potentially painful transition in ownership base” as dyed-in-the-wool electric vehicle investors may “throw in the towel” and be replaced by tech funds with far longer investment horizons suited for frontier AI bets.

If Tesla does successfully reinvent itself as an AI juggernaut, sector valuations and comparable companies would be turned on their head. Traditional automotive benchmarks may no longer apply, forcing investors to reimagine their investment theses from scratch.

To be sure, the rewards of being at the vanguard of automated driving and machine intelligence could be immense. But the associated risks are equally daunting as Tesla stares down imposing technological barriers, regulatory quicksand, and operational growing pains. For nimble investors, the transformation could open doors to diversify into AI and robotics through an established player boasting visionary leadership and deep pockets.

When Tesla reports first quarter earnings next week, all eyes will be glued to Elon Musk for clarity and insight into precisely where he plans to steer this potential AI metamorphosis. The report could prove revelatory in glimpsing the future trajectory of a company that may be in the midst of redefining itself as the vanguard of a new technological epoch.

For small and micro-cap investors perpetually searching for the next undervalued, under-the-radar opportunity, Tesla’s AI aspirations warrant close scrutiny. While hazards abound, the potential rewards of getting in on the ground floor of a transformative technology upstart could be nothing short of game-changing.

Kratos Defense & Security (KTOS) – New Business and Significant Demonstrations


Monday, April 22, 2024

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

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

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

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

New Award. Kratos subsidiary Micro Systems Inc. was awarded a $24 million ID/IQ contract to produce, test, and deliver a maximum quantity of 375 airborne transponders; 150 ground radio frequency units; 75 airborne relay and 15 test sets. This contract also includes the testing, teardown, and evaluation for a maximum quantity of 625 systems of naval targets control and 375 AN/DSQ-50A. Included as well are the repairs of up to 100 airborne transponders; 100 ground radio frequency units; 100 airborne relay; 30 test sets; 120 low rate initial production airborne transponders; 100 AN/DSQ-50A (L-Band) and 100 AN/DSQ-50A (S-Band) in support of target mission support systems for the Navy. Work is expected to be completed in April 2029.

SATCOM. Kratos and SES, a leader in global content connectivity solutions, successfully executed a fully virtualized satellite communications (SATCOM) ground system demonstration for the U.S. Army’s Combat Capabilities Development Command. Kratos and SES successfully showed a flexible network architecture facilitating simultaneous communication pathways for resilient SATCOM. As employed in this demonstration, Kratos’ OpenSpace is the first to leverage containers to orchestrate the transfer of communication sessions in a standards-based, open, COTS platform environment.


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*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. 

Hemisphere Energy (HMENF) – Financial results benefit from fall drilling


Monday, April 22, 2024

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

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

Results were in line with expectations absent charge. Income, cash flow and earnings for the 2023-4Q and 2023 year would have been in line with expectations absent a $4.2 million nonrecurring charge to write down non-core assets.

Quarter production rose 16% year over year due to an active fall drilling program. The increase was expected. Extreme weather hurt production in the first few months of 2024 (2024-1Q production was announced below that in our models) but has risen to all-time high levels recently. We have lowered our 2024-1Q production estimate but raised our estimate for the remaining quarter’s of 2024.


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

Cumulus Media (CMLS) – Likely To Complete Debt Swap


Monday, April 22, 2024

Cumulus Media (NASDAQ: CMLS) is an audio-first media company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 406 owned-and-operated radio stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across more than 9,500 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the Cumulus Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. Cumulus Media provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. Cumulus Media is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

Amended debt swap. Upon pressure from the majority of its debt holders, the company amended the terms of its debt swap, decreasing the discount on the debt from 80% to 94%, but also decreasing the interest rate from the previous plan of 8.75% to 8.0%. This plan for the debt conversion appears likely to be completed given that it is estimated that 90% plus of the holders have agreed to the terms. The company needs only 95% of its lenders to agree to the new terms by May 1 to complete the conversion. 

Lengthens maturities. The new debt will extend maturities from 2026 to 2029, providing a large runway for the company to execute its growth initiatives and debt reduction efforts. 


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*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. 

Bitcoin Depot (BTM) – Seizing an Opportunity


Monday, April 22, 2024

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

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

Opportunistic kiosk purchase.  On April 18, the company announced the purchase of roughly 2,300 Bitcoin kiosks at a discount of approximately 50% per-kiosk. Notably, the company plans to deploy the majority of these kiosks over the next two quarters. Once all the kiosks from the recent purchase are delivered, the company will have over 10,000 kiosks deployed, ahead of our previous expectations. We view the announcement favorably.

Sizeable profit-share investment. On April 12, the company announced an outside firm made a multi-million dollar investment in 250 Bitcoin kiosks as part of the company’s profit sharing (or franchising) program. Notably, the kiosks will be operated by the company and a percentage of profits will be paid out to participants. The agreement provides an option for additional investment of up to 750 kiosks.


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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. 

Bit Digital (BTBT) – The ‘Halving’ Commences


Monday, April 22, 2024

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

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

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

The Event. On Saturday, April 20th, 2024, the ‘halving’ event commenced with BTC. With the event, all miners will earn half of the mining rewards compared to before. According to CoinDesk, the event also brought higher transaction fees at $2.4 million for the ‘halving’ block compared to $40,000-$60,000 from before. The increased fees are partially attributed to network congestion from the launch of a new protocol, Runes. The protocol allows users to “etch” or mint tokens on the blockchain. The price of BTC decreased slightly to just under $64,000 on Saturday from roughly $65,490 last month.

What is the ‘Halving?’ Recall, the ‘halving’ occurs approximately every four years, in which the reward rate of bitcoin is halved. The reward rate is now at 3.125 BTC per block from a previous 6.25. These events will continue to occur until all potential 21 million bitcoin have been mined.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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*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 – Century Lithium Provides Update On The Feasibility Study

Research News and Market Data on CYDVF

April 19, 2024 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or Company) reports that the Feasibility Study on the Company’s Clayton Valley Lithium Project (Project), in Nevada, USA, under the direction of Wood PLC and Global Resource Engineering Ltd., is currently under review by the Qualified Persons, and the Company anticipates its announcement imminently. 

To date, the Company’s Feasibility Study team has revised and updated estimates for a phased production approach at the Project. These revisions also included assessment and evaluation of the economic benefit of sales of the surplus sodium hydroxide produced by the chlor-alkali plant.

The Company’s Lithium Extraction Facility (Pilot Plant) in Amargosa Valley, Nevada is now in its third year of testing the processing of lithium-bearing claystone from the Project. All data collected has been essential to the Feasibility Study. Century Lithium continues to work toward permitting the Project including the collection of baseline data collection for biology, surface and groundwater hydrology, and social impacts. Earlier this year, baseline reports were submitted by the Company’s consultants and were accepted by the appropriate government agencies. Multiple reports have been completed which will aide in the preparation of a Plan of Operations to initiate the National Environmental Policy Act (NEPA) process.

About Century Lithium Corp.

Century Lithium Corp. (formerly Cypress Development Corp.) is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA. Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851
Toll Free: 1 800 567 8181
scacos@centurylithium.com 
centurylithium.com  

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements that may be deemed to be “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Release – Ocugen Announces Dosing Completion Of Subjects With Geographic Atrophy In Cohort 2 Of Phase 1/2 ArMaDa Clinical Trial Of OCU410—A Modifier Gene Therapy

Research News and Market Data on OCGN

April 19, 2024

MALVERN, Pa., April 19, 2024 (GLOBE NEWSWIRE) — Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced that dosing is complete in the second cohort of its Phase 1/2 ArMaDa clinical trial for OCU410 (AAV-hRORA)—a modifier gene therapy candidate being developed for geographic atrophy (GA), an advanced stage of dry age-related macular degeneration (dAMD). GA affects approximately 1 million people in the United States alone.

“We are very enthusiastic about the potential of OCU410 as a one-time, gene-agnostic option for the treatment of GA,” said Dr. Huma Qamar, Chief Medical Officer of Ocugen. “OCU410 regulates multiple pathways involved with the disease, including lipid metabolism, inflammation, oxidative stress, and membrane attack complex (complement) with a single sub-retinal injection.”

Dosing in the second cohort is complete and 3 subjects received 200 mL single subretinal administration of the medium dose (5×1010 vg/mL) of OCU410. Up to 13 leading retinal surgery centers across the United States are participating in the ArMaDa clinical trial.

“Currently we have two FDA approved, anti-complement therapies for GA targeting a single pathway of the disease, which has multifactorial and complex etiology,” said Syed M. Shah, MD, Vice Chair of Research and Digital Medicine and Director of Retina Service at Gundersen Health System, La Crosse, WI, and the lead investigator for the OCU410 Phase 1/2 trial. “The limited benefit comes with the burden of continued multiple intravitreal injections spanning over several years. This novel modifier gene therapy has the potential to transform the therapeutic landscape in GA treatment.”

A Data and Safety Monitoring Board meeting will convene next month to review the 4-week safety data of the medium dose cohort before proceeding with high dose, which is the final dose in the Phase 1 dose-escalation study.

The ArMaDa Phase 1/2 clinical trial will assess the safety of unilateral subretinal administration of OCU410 in subjects with GA and will be conducted in two phases. Phase 1 is a multicenter, open-label, dose-ranging study consisting of three dose levels [low dose (2.5×1010 vg/mL), medium dose (5×1010 vg/mL), and high dose (1.5 ×1011 vg/mL). Phase 2 is a randomized, outcome accessor-blinded, dose-expansion study in which subjects will be randomized in a 1:1:1 ratio to either one of two OCU410 treatment groups or to an untreated control group.

The Company will continue to provide clinical updates on an ongoing basis.

About dAMD and GA
dAMD affects approximately 10 million Americans and more than 266 million people worldwide. It is characterized by the thinning of the macula. The macula is the part of the retina responsible for clear vision in one’s direct line of sight. dAMD involves the slow deterioration of the retina with submacular drusen (small white or yellow dots on the retina), atrophy, loss of macular function and central vision impairment. dAMD accounts for 85-90% of the total AMD population.

About OCU410
OCU410 utilizes an AAV delivery platform for the retinal delivery of the RORA (ROR Related Orphan Receptor A) gene. The RORA protein plays an important role in lipid metabolism, reducing lipofuscin deposits and oxidative stress, and demonstrates an anti-inflammatory role as well as inhibiting the complement system in in-vitro and in-vivo (animal model) studies. These results demonstrate the ability for OCU410 to target multiple pathways linked with dAMD pathophysiology. Ocugen is developing AAV-RORA as a one-time gene therapy for the treatment of GA.

About Ocugen, Inc. 
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines that improve health and offer hope for patients across the globe. We are making an impact on patients’ lives through courageous innovation—forging new scientific paths that harness our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with a single product, and we are advancing research in infectious diseases to support public health and orthopedic diseases to address unmet medical needs. Discover more at www.ocugen.com and follow us on X and LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, 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 statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing of may not be predictive of the results or success of later clinical trials; and that that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. 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.

Contact: 
Tiffany Hamilton 
Head of Communications 
Tiffany.Hamilton@ocugen.com