Both Stockholders and Those in Prison May Quickly Benefit
The government process moves painfully slow. Some things that are presumed to be just, right, and even best still take years to become the law of the land. As investors, we can be perfectly correct as to the eventual outcome, but the future may not come fast enough. It is taking many years for cannabis or marijuana laws to settle where most presume the eventual outcome will be. That’s a long time to be holding a stock, hopeful but with little real legislative news to propel it higher. The day may finally be approaching for U.S. pot stocks. President Biden announced on Thursday that he is taking quick steps to review federal marijuana laws and recognize related prison sentences.
The U.S. president announced on October 6 that he is initiating an administrative review of federal marijuana scheduling, and he also said that he would be granting mass pardons for people who have committed federal cannabis possession offenses. He asked that state governors do the same for state-level convictions.
The pronouncements are both on the Whitehouse.gov website under Briefing Room and on Twitter @POTUS.
Biden has laid very low on legalization since taking office. Although he campaigned on marijuana decriminalization, rescheduling, and expungements for low-level cannabis convictions, he has not held these as a priority. Mid-term elections are a month away, and the president may be knocking things off his “To-Do” list after two years in office.
The White House estimates that about 6,500 people with federal cannabis convictions could be eligible for relief under the new order, and thousands of others whose local offenses have them incarcerated could also benefit.
The scheduling review—which would be conducted by the Justice Department and the U.S. Department of Health and Human Services (HHS)—could fundamentally reshape U.S. marijuana policy at the federal level. Advocates had been pressuring the president to use his executive authority to initiate a path forward.
It’s not clear how long the review might take, but Biden stressed that he wants the agencies to process it “expeditiously.” It’s reasonable to expect that the review could result in a recommendation to move marijuana from the strictest classification of Schedule I under the Controlled Substances Act (CSA) to a lower schedule or no schedule at all.
A White House official has reminded us that while the POTUS is asking for an expeditious review process, it’s still going to “take some time because it must be based on a careful consideration of all of the available evidence, including scientific and medical information that’s available.”
“This is meant to proceed swiftly. But, you know, this has to be a serious and considerate review of the available evidence,” they said. “So he’s not setting an artificial timeline, but he is saying this needs to be expeditious.”
Source: Whitehouse.gov (October 6, 2022)
This action is a clear about-face for the long-time politician. During his tenure in the Senate, Joe Biden served as chairman of the Judiciary Committee that helped shape drug policy during a period of intense scaremongering and increased criminalization. At the time, he was among the most prominent drug warriors serving in Congress.
Take Away
President Joe Biden has dropped what essentially amounts to a drug policy October surprise just before the midterm elections. The review comes at a time when a number of legislative efforts in both branches of Congress have failed to move forward.
While the pronouncement and order do not finalize federal laws related to banking or interstate commerce tied to cannabis products, it does signal an effort to move far more quickly. A number of publicly traded U.S. cannabis-related companies jumped after the news, including Tilray (TLRY), Schwazze (SHWZ), and Curaleaf (CURLF).
DENVER, Oct. 6, 2022 /PRNewswire/ – Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), is pleased to announce that Justin Dye, Chairman & CEO will present to investors in a live VID Forum Town Hall on Tuesday, October 11, 2022, at 11:00 am EST. Management will field moderated Q&A from investors and interested parties after their presentation. Please sign up here to register.
The Webinar will be interactive and will be hosted by VID Conferences. All stakeholders and interested investors are welcome to tune in and participate with questions. The playback will then be available on the Company’s website.
About Schwazze
Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices. Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc.
Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.
Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or 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. Consequently, actual events and 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) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. 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 except as required by law.
THE CURRENT NASCAR TEAMS, DRIVERS AND CARS ARE SET TO BE PLAYABLE ACROSS IGNITION, NASCAR HEAT 5 AND NASCAR HEAT MOBILE
MIAMI, Oct. 06, 2022 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, announced today the official launch of the NASCAR 21: Ignition (“Ignition”) 2022 Season Expansion Update to reflect the 2022 NASCAR Cup Series season. Updates to the title, available for free, will be seen across Race Now, Online Multiplayer and the Paint Booth and is available for download for Sony PlayStation 4 and 5, Xbox One, Series S and X and PC through the Steam store.
For current owners of Ignition, both Standard and Champion Editions will be able to download the update for free, while those who do not currently own the game can purchase Ignition at a reduced price point ($19.99 USD) and then receive the free install. Additionally, NASCAR 21: Ignition – Victory Edition is available, which will include the Season Pass 1 (2021 DLC content), 2022 Season Expansion and Season Pass 2 (2022 DLC content). A first look at the new features within the game can be seen in a trailer here.
“We are thrilled to add the 2022 Season Expansion Update into Ignition today so that our fans can enjoy the most up to date content for this historic season,” said Jay Pennell, Brand Manager, NASCAR at Motorsport Games. “The update comes at a great time as well, with the NASCAR Cup Series Playoffs currently in full swing. Just as the Next Gen cars have added unique elements to the real-life grid, they will now add those same factors into the digital racing world for players. It was also imperative for us to be able to replicate the newest content across all of our titles, something that has been achieved and we cannot wait for players of Ignition, NASCAR Heat 5 and NASCAR Heat Mobile to all enjoy the 2022 content moving forward.”
The Ignition 2022 Season Expansion Update provides a number of refreshed features for the title, including a UI refresh, upgraded HUD, newly recorded broadcast introductions from Motor Racing Network’s On-Air Announcer, Alex Hayden and the current 2022 NASCAR Cup Series racetracks from both the regular season and playoffs. The 2022 lineup of drivers, teams and paint schemes have been directly pulled from the 2022 season, as well as all three Next Gen car models from Chevrolet, Ford and Toyota.
In addition to being available to owners of Ignition, the 2022 Season Expansion Update will be released on NASCAR Heat 5 and NASCAR Heat Mobile. Players will be able to purchase the 2022 Season Expansion Update on NASCAR Heat 5 for $12.34, starting October 21, 2022. The 2022 Season Expansion will arrive as a free update on NASCAR Heat Mobile, starting October 27, 2022. With these updates, NASCAR’s 2022 season will be reflected across all of Motorsport Games’ NASCAR properties. Players will be able to utilize the cars, drivers and teams from the 2022 NASCAR Cup Series season in Race Now, Career Mode and Online Multiplayer in NASCAR Heat 5 as purchasable downloadable content, and as a free content update within NASCAR Heat Mobile.
About Motorsport Games: Motorsport Games, a Motorsport Network company, is a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make the joy of racing accessible to everyone. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), as well as the industry leading rFactor 2 and KartKraft simulations. rFactor 2 also serves as the official sim racing platform of Formula E, while also powering Formula 1™ centers through a partnership with Kindred Concepts. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires.
Forward-Looking Statements: Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the timing, participants and expected benefits of NASCAR 21: Ignition 2022 Season Expansion Update and related products and updates. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, without limitation: difficulties, delays in or unanticipated events that may impact the timing and expected benefits of the NASCAR 21: Ignition 2022 Season Expansion Update and/or related products and updates, such as due to unexpected release delays. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on Form 10-Q filed with the SEC during 2022, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.
Website and Social Media Disclosure:
Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):
NEW YORK, NY / ACCESSWIRE / October 6, 2022 / Engine Gaming and Media, Inc. (“Engine” or the “Company”) (NASDAQ:GAME) (TSXV:GAME), a data-driven, gaming, media and influencer marketing platform company, today announced that it has commenced a process to explore and evaluate strategic options to enhance and preserve shareholder value.
“Maximizing shareholder value has always been our first priority,” stated, Lou Schwartz, Engine’s Chief Executive Officer, “and to that end, throughout 2022, Engine has been aggressively cutting costs and focusing its business lines and initiatives with the goal of accelerating our timeline to achieving profitability. In support of, and in parallel to this objective, we believe the commencement of our strategic process will be helpful in connecting with third parties who could be synergistic with our existing businesses or in providing new opportunities for the Company and its shareholders.”
Tom Rogers, Executive Chairman of the Company, added, “As I have indicated on our last couple of earnings calls, with a large number of small cap companies with distressed stock price situations similar to our own, we feel this is an environment full of opportunity for discussions with various parties to assess how mutual ambitions to create greater scale in a tough economy can be better realized.”
Potential strategic options to be explored or evaluated as part of this process may include, but are not limited to, merger, reverse merger, acquisition, other business combination, sale of assets, partnerships, joint ventures, licensing, or other strategic transactions involving Engine. The Company has not set a timetable for completion of this process and does not expect to disclose developments with respect to this process unless and until the evaluation of strategic alternatives has been completed or the Company’s Board of Directors has concluded disclosure is appropriate or legally required.
Engine has engaged KPMG Corporate Finance, Inc. and Haywood Securities, Inc. as the Company’s exclusive financial advisors to assist in this process.
About Engine Gaming and Media, Inc.
Engine Gaming and Media, Inc. (NASDAQ:GAME) (TSX-V:GAME) provides unparalleled live streaming data and social analytics, influencer relationship management and monetization, and programmatic advertising to support the world’s largest video gaming companies, brand marketers, ecommerce companies, media publishers and agencies to drive new streams of revenue. The Company’s subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; and Frankly Media, a digital publishing platform used to create, distribute, and monetize content across all digital channels. Engine generates revenue through a combination of software-as-a-service subscription fees, managed services, and programmatic advertising. For more information, please visit www.enginegaming.com.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In respect of the forward-looking information contained herein, Engine has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release.
The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Engine does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither the 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.
Investor Relations Contact: Shannon Devine MZ North America Main: 203-741-8811 GAME@mzgroup.us
VIRGINIA CITY, NEVADA, OCTOBER 6, 2022 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced that its Executive Chairman and CEO, Corrado De Gasperis, is presenting at the 12th Annual Invitational LD Micro Main Event in Los Angeles on Wednesday, October 26, 2022, at 4:00 p.m. PDT.
“We look forward to presenting at the LD Micro conference as we accelerate the commercialization of our decarbonization technologies for transportation and broader mobility applications,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Our cellulosic fuels and Li-ion battery metal recycling businesses enable renewable energy solutions in massive existing and extremely fast growing markets, during a most critical time for reducing carbon.”
Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complementary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
About LD Micro (NASDAQ: SRAX)
LD Micro aims to be the most crucial resource in the micro-cap world. Whether it is the index, comprehensive data, or hosting the most significant events on an annual basis, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies.
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management considering their experience and their perception of historical and current trends, current conditions, possible future developments, and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.
Contact information:
Comstock Inc. P.O. Box 1118 Virginia City, NV 89440 www.comstock.inc
MALVERN, Pa., Oct. 06, 2022 (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 the Company will present at two important conferences this month.
“I look forward to sharing more about our Modifier Gene Therapy platform—a novel approach to treating inherited retinal disease—during the Meeting on the Mesa, and Dr. Hopkins will provide more on COVAXIN™— a whole-virion inactivated COVID-19 vaccine candidate currently in a Phase 2/3 immuno-bridging and broadening clinical trial with the U.S. FDA—at the Vaccines Summit,” said Dr. Shankar Musunuri, PhD, MBA, Chairman, CEO & Co-Founder of Ocugen. “It’s critical that we participate in conversations about the next generation of medicine among our peers and share our contributions to the advancement of vaccines, cell and gene therapy.”
Title: COVAXIN™: A whole SARS-CoV-2 virion inactivated vaccine against COVID-19 Presenter: Robert J. Hopkins, MD, MPH & TM, FACP, FIDSA, Chief Medical Officer Date: Wednesday, October 12, 2022 Time: 6:10 – 6:30 p.m. ET Location: Sheraton Reston Hotel, Reston, VA
About Ocugen, Inc. Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve health and offer hope for patients across the globe. We are making an impact on patient’s 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 Twitter and LinkedIn.
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 statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations. 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 IR@ocugen.com
Michael Burry’s Advice for Companies to Become Better Values
After my morning coffee and check on stock futures, I peruse Twitter. Coffee is necessary when you may need to translate cryptic messages from tweeters like Dr. Michael Burry. This week, the hedge fund manager, famous for his foresight and creativity in shorting subprime mortgages before the mortgage crisis in 2008, has been very active on the microblogging platform. Two tweets from October 5th are newsworthy, considering their source, their insight, and the concern they convey are described below.
The first reads: “Low price/cash flow businesses are different today vs. 2000 because they will buy back stock, buy back debt at a discount, and in general manage capital structure better. Makes them statistical value – math problems that more or less must work out.”
The second says, “Companies that are heavily leveraged but have the cash flow and termed out debt have options today, including reducing their debt loads at a significant discount brought on by higher rates. But as Graham said, in such a case, better off buying the stock.”
Taking these two tweets together, they make sense. Twenty years ago, interest rates were the lowest they had been since 1965; during the last week in December, plummeting 30-year mortgage rates had broken below 6%. Despite cheaper money, corporate treasurers and finance officers didn’t use the situation to shore up their capital structure and build a better base to grow on. The equity markets were weak from August 2000 until May 2009, after the financial crisis that in part came about because of how the cheap money was used.
Companies that are not stretched and are earning money today have the choice of strengthening their financial foundation by either buying their stock at today’s bearish prices. A stock buyback has the effect of reducing shares available in the market as they are now in the company’s treasury. Reduced float tends to increase the price and benefits shareholders. The company does have the option of selling these shares should an opportunity present itself where it would like to raise capital selling previously available shares.
Burry also mentions leveraged companies. Having just come off of 40-year lows in interest rates, it was, in many cases, prudent for companies to leverage themselves with cheap money. These loans, present-valued at today’s higher rates, can be negotiated and paid off at a discount. For companies with adequate cash flow, they may be able to substantially reduce debt for a fraction of the principal amount. Here is how to best get your head around this, if you are a lender and the borrower is paying you 2%, and rates are now 6%, how much less than the borrowed amount would the borrower have to give you in order for you to do better than breaking even? You can lend one-third of the money at 6% and earn the same cash amount. So the borrower is in a great negotiating position.
Michael Burry makes no secret of the fact that he is an avid reader. “Graham” refers to Benjamin Graham the “father of value investing.” Burry reminds us that, according to this historically significant, well-published value investor, investors and companies are generally better off buying back their own stock.
Take Away
There are showmen that are on TV and keep their jobs by keeping viewers glued to their TV sets, and there are others that comment on the market for less-commercial reasons. Those on TV and writing on well-read sites like Yahoo Finance are worth reading to understand what others are reading. Proven, outside the mainstream thinking is worth paying attention to in order to diversify the information your weighing as an investor.
You can even think of it this way; no one pays Burry for advertising on Twitter accounts used by Burry or some other well-followed investors. Whereas mainstream news only exists because of paid-for advertising from companies and industries that they cover. This doesn’t mean he will always be correct, but, who might be less biased?
A silver bullet cure, with possible indications for 150 illnesses or more, is now being researched by a few small biotech companies. The results have gotten the attention of big pharmaceutical companies.
In the world of biology, medicine, and biotechnology, there’s a new and extremely promising field of research in inflammasomes. Since the discovery 20 years ago, increasing understanding of what causes inflammation or an inflammatory response in humans and the knowledge of the mechanisms and role of inflammasomes has developed into a race to design potential drugs which target the culprit in many diseases. The problem to be solved is an overly zealous inflammatory response.
The activation of the inflammation system is to protect the body from pathogens, injury, or other dangers or irritants. While insufficient inflammation can lead to persistent infection or problems related to the initial trigger, excessive inflammation can cause chronic or systemic inflammatory diseases. While there are many medications, both over-the-counter and by prescription, to help reduce inflammation and problems associated with it, a therapy or therapies upstream could prevent an over-inflammation response at the source.
Currently, the rapid expansion of knowledge of inflammasomes’ role in various diseases has uncovered links to neurological diseases such as Parkinson’s, Alzheimer’s, and MS; metabolic disorders including type2 diabetes, and obesity; and cardiovascular diseases.
Currently, there are no approved inflammasome inhibitors; however, there are several promising early-stage trials occurring at a few focused companies. Development of therapies is the goal, with expectations of them being able to treat a myriad of ailments. Success could be similar to the discovery of penicillin when many infections quickly ceased being worrisome. The breakthrough could provide therapy or a mechanism to control one or two key inflammasomes that could suddenly provide cures or relief from many chronic problems.
Over the past few years, these inflammasome-related transactions, acquisitions, and partnerships have taken place:
Ventus Therapeutics- On September 29, 2022, Ventus received $70 million upfront, with the agreement for additional milestones of up to $633 million, also royalty payments and R&D funding from Novo Nordisk to license Ventus’s brain penetrant inflammasome (NLRP3) inhibitor – Ventus is a privately held company that retains full rights.
Cerevance – August 9, 2022 Cerevance received $25 million upfront, with the agreement for additional milestones up to $1.1 billion, with potential for royalty payments from Merck on sales of approved products derived from the strategic research collaboration of Alzheimer’s targets using Cerevance’s NetSseq platform. (Pre-clinical phase)
Inflamazome – September 21, 2020 Inflamazome was fully acquired for $451 million upfront with R&D milestones that could be worth up to $1.125 billion from Roche. Roche will own full rights to the acquired company’s portfolio of oral NLRP3 small molecule inflammasome inhibitors. (Pre-clinical phase and Phase 1)
IFM Therapeutics – Quattro & IFM Discovery (Incubator) – December 2019, Has raised $55.5 million to launch its third drug subsidiary as well as an incubator, both of which are focused on developing new therapies for inflammatory diseases and cancers. Omega Funds was the lead, with Atlas Ventures also participating. Financing lead: Omega Funds also participating: Atlas Ventures. (Discovery Phase)
Inflammasome Therapeutics – September 2019, Is entitled to receive up to $160 million in milestone and gated development payments and tiered royalties and other milestones due on commercialization from Boehringer Ingelheim. (Development Phase)
IFM Therapeutics – September 2019, Agreement provides sufficient funding for research and development costs through late-stage pre-clinical development of the lead program with an option to acquire IFM Due. IFM is a Privately held company. (Discovery Phase)
IFM Therapeutics- April 1, 2019, the subsidiary IFM Tre was acquired by Novartis. Novartis will pay $310 million upfront and up to roughly $1.3 billion in milestones to access three early-stage NLRP3 antagonists: IFM-2427, a systemically acting compound that began its first human studies last week, and two pre-clinical compounds: one gut-penetrating, and the other directed at the central nervous system. (Clinical Phase and Pre-clinical Phases)
Most of the small companies involved in inflammasome research are privately held and raise capital privately. From time to time, Noble Capital Markets may be involved in raising capital for non-public biotech firms and companies in other industries. To determine in advance if you qualify to invest in non-public capital raises, visit here to request accreditation.
Take Away
There are huge amounts of capital coming primarily from big pharma and venture capital firms with the expectation that R&D on inflammasomes could yield big results. Therapies that could regulate a primary culprit across many diseases would be a significant boost to investors and mankind.
MIAMI, Oct. 05, 2022 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, announces today the entry list for the second round of the 2022-23 Le Mans Virtual Series, 4 Hours of Monza. The list is available (HERE). The high level of both real life and sim drivers due to compete in the upcoming Monza event is a great indication that another closely contested race is likely from start to finish.
Names such as 2021 ELMS champion Yifei Yi, Mexican motorsport legend Luis Diaz and Porsche factory driver Ayhancan Güven will be racing alongside esports elite, including those representing Bahrain victors Floyd Vanwall-Burst (Dillmann/Simončič/Pedersen) in LMP and Oracle Red Bull Racing (Webster/Siebel/Jordan) in GTE.
The race will take place on the rFactor2 platform at the virtual Autodromo Nazionale Monza and full, uninterrupted coverage will begin from 12:40 p.m. BST (CEST = +1 hour / EST = -5 hours) on Saturday, October 8. The Italian temple of speed is unmatched for its history and the passion it invokes in motorsport fans – real or virtual – and esport racing fans can be sure that plenty of action will be in store!
A total of 40 cars will battle it out in two different classes – 24 in LMP, with all competitors using an ORECA 07 LMP2 model, and 16 in GTE with teams having a choice of Ferrari, BMW, Porsche and Aston Martin Vantage models. Manufacturer support also comes to teams representing Alpine and Mercedes AMG.
Qualifying begins on Friday, October 7 at 6:00pm BST, and all race action can be followed on the FIA WEC, Le Mans and TraxionGG’s YouTube channels, on twitch.tv/traxiongg, and on multiple social media channels.
For further media information, contact Fiona Miller, Miller Media & Communications, on +44 7770 371332 or media@lemansvirtual.com
About Le Mans Virtual Series Le Mans Virtual Series is a global, elite esports series made up of five rounds which bring together endurance racing and sim racing’s top teams to compete on some of the world’s most famous racetracks. International FIA-licensed real-world drivers are teamed up with elite esports squads to take on endurance classics for a total prize fund of US$250,000, culminating in the prestigious 24 Hours of Le Mans Virtual. Le Mans Virtual Series is a joint venture between leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, Motorsport Games, and the Automobile Club de l’Ouest (ACO) – the creator and organizer of the world-famous 24 Hours of Le Mans and promoter of the FIA World Endurance Championship (FIA WEC).
Round 1
8 Hours of Bahrain, Bahrain
September 17, 2022
Round 2
4 Hours of Monza, Italy
October 8, 2022
Round 3
6 Hours of Spa, Belgium
November 5, 2022
Round 4
500 Miles of Sebring, USA
December 3, 2022
Round 5
24 Hours of Le Mans Virtual
January 14/15, 2023
About Motorsport Games: Motorsport Games, a Motorsport Network company, is a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make the joy of racing accessible to everyone. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), as well as the industry leading rFactor 2 and KartKraft simulations. RFactor 2 also serves as the official sim racing platform of Formula E, while also powering Formula 1™ centers through a partnership with Kindred Concepts. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires.
Forward-Looking Statements: Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the timing, participants and expected benefits of the 2022-23 Le Mans Virtual Series, 4 Hours of Monza event. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, without limitation: difficulties, delays in or unanticipated events that may impact the timing and expected benefits of the 2022-23 Le Mans Virtual Series, 4 Hours of Monza event, such as due to unexpected changes in the event participants, as well as less than anticipated participation in or viewership of the event. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on Form 10-Q filed with the SEC during 2022, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.
Website and Social Media Disclosure: Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):
BOTHELL, Wash., Oct. 05, 2022 (GLOBE NEWSWIRE) — Cocrystal Pharma, Inc. (Nasdaq: COCP) announces that James Martin, CFO and interim co-CEO, will present a company overview at the Dawson James Securities 2022 Small Cap Growth Conference on Wednesday, October 12, 2022 at 1:00 p.m. Eastern time (10:00 a.m. Pacific time). The conference is being held at the Wyndham Grand Hotel in Jupiter, Fla.
Mr. Martin is available throughout the conference for one-on-one meetings. The Cocrystal presentation will be posted to the IR Calendar of the Company’s website beginning October 12.
About Cocrystal Pharma, Inc. Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.
Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
More New Mexico Coverage. Management for Schwazze announced the opening of two stores on Sept. 28 and Oct. 4 of 2022 in New Mexico, specifically in Ruidoso and Clovis respectively. The openings are part of management’s goal of expansion in the New Mexico state.
Ruidoso Dispensary. The Ruidoso store is located on 360 Sudderth Drive and officially opened its doors on September 24th. The overall population for Ruidoso is at 7,879 according to a 2020 census, and has a median household income of $43,847, according to Data USA. The town is home to a nearby ski resort called Ski Apache and has an annual number of tourists of 1.9 million, according to the town’s website. We expect the dispensary to tap into the tourist revenue stream Ruidoso currently receives.
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.
Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Turn the Page. With the appointment of Ken Peterman as CEO and President, Comtech is entering a new chapter, in our view. With a track record of building and creating sustainable, profitable growth, we believe Mr. Peterman will be able to capitalize on the high-growth opportunity set in front of Comtech.
Convergence. A key theme from Mr. Peterman is the belief of a coming “convergence” between the satellite and space communications and terrestrial and wireless communications, or Comtech’s two core markets. With an unsurpassed skill set across both of these areas, we believe Comtech is uniquely positioned to capitalize on this coming convergence.
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.
Gregory Aurand, Senior Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
FQ2 2023 reported for period ending July 31, 2022. As a clinical stage company, ChitogenX reported no revenues in the quarter. Expenses, both G&A and R&D, were lower than our quarter expectations, offset by higher share-based compensation expense. R&D expenses were reduced by a $500,000 (all figures in C$) grant received in May 2022 to advance the meniscus repair indication. The result was a net loss of $1.363 million vs. expected $1.59 million. Loss per share was $0.03 vs. expected loss of $0.03.
ChitogenX is pushing well beyond orthopedics. The rebranding recently instituted was more than a simple name change. The Company is leveraging its chitosan biopolymer technology expertise to attack a much larger global regenerative medicine market, including areas like oncology, neurology, and cardiology. Regenerative medicines have an inherent inability to stick to repair sites and ChitogenX seeks to resolve the problem with their ChitogenX Biopolymer. We expect the Company to establish partnerships, license the technology, or seek grants in these additional markets.
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.
