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Townsquare Media (TSQ) – Ignite’s Its Growth

Posted on by cpereira@noblefcm.com


Tuesday, October 08, 2024

Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com.

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

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

Forms a strategic partnership. The company announced that it formed a strategic partnership with SummitMedia to offer Townsquare Ignite’s digital advertising solutions to nine of its radio markets that do not overlap with Townsquare’s. We believe that the agreement highlights Townsquare’s preeminence in the digital media space. The agreement will largely kick off in first quarter 2025.

Utilizes SummitMedia’s sales force. Townsquare plans to train SummitMedia’s staff on digital sales practices, at SummitMedia’s expense. Townsquare will add relationship managers to service SummitMedia, execute campaigns, (including creative), and to provide back office support. 


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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. 

Euroseas (ESEA) – Updating Estimates Due to New Time Charter Contract for the M/V Jonathan P

Posted on by cpereira@noblefcm.com


Tuesday, October 08, 2024

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Research Associate, Noble Capital Markets, Inc.

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

New Time Charter Contract: Euroseas Ltd. executed a time charter contract for M/V Jonathan P at a gross daily rate of $20,000 for a minimum period of 11 to a maximum period of 13 months at the option of the charterer. The M/V Jonathan is a 1,740 TEU feeder container ship. Recall that TEU is a unit of cargo capacity that is based on the volume of a 20-foot-long intermodal container that can be transferred between different carriers. The new charter is expected to commence in mid-to-late October 2024.

Profitable Rate and Improved Charter Coverage: The new time charter is expected to contribute EBITDA of ~$4.0 million during the minimum contracted period and improves 2024 and 2025 charter coverage to 96% and 52%, respectively. While the rate is lower than the previous time charter, it is above our prior 2025 rate estimate of $15,000 per day. Moreover, the contract enhances revenue visibility by locking in a profitable rate through 2025.


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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.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

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

Comstock Inc. (LODE) – GenMat Acquisition Positions Comstock to Leverage the Power of AI

Posted on by cpereira@noblefcm.com


Tuesday, October 08, 2024

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 complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Acquisition of Quantum Generative Materials (GenMat). Comstock executed an agreement to acquire Quantum Generative Materials, including GenMat’s artificial intelligence materials discovery platform, along with retaining most of the associated technical team. A holding company controlled by Mr. Deep Prasad, GenMat’s founder, will assume control of GenMat’s space-oriented business. GenMat will become a 100%-owned subsidiary of Comstock Inc. and will continue development and commercialization of its physics-based artificial intelligence products and services.

Transaction terms. GenMat will pay $1 million to Mr. Prasad in exchange for the assignment of the rights and related intellectual property. Comstock will make the following payments: 1) $250,000 on the closing date, 2) $250,000 on November 15, 2024, and 3) $500,000 on March 31, 2025. Under terms of the agreement, Mr. Prasad is entitled to a contingent earn-out payment equal to 3% of either the consideration paid in connection with a liquidation of GenMat in excess of $100 million or funds raised by GenMat upon completion of an initial public offering valuing GenMat in excess of $100 million.


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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.

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. 

Bio-Path Surges on Expansion into Obesity Market

Posted on by cpatches
Key Points:
– Stock Surge: Bio-Path Holdings’ stock rose 30% after announcing BP1001-A, its new obesity treatment program, with trading volume significantly higher than average.
– New Focus: The company plans preclinical studies for BP1001-A by Q4 2024, marking its first use of DNAbilize technology for non-cancer applications.
– Market Opportunity: A September report projects the obesity treatment market could reach $200 billion by 2031, with up to 16 new drugs expected by 2029, presenting a lucrative opportunity for Bio-Path.

Shares of Bio-Path Holdings (NASDAQ: BPTH) surged by 30% as of 11 a.m. Tuesday, driven by significantly increased trading volume of 57 million shares, far exceeding its average volume of 329,000. The rally follows the company’s announcement of a new therapeutic program aimed at addressing obesity and related metabolic diseases using its DNAbilize® technology. This marks the company’s first foray into non-cancer applications, potentially opening the door to a new growth avenue for the biotech firm.

Bio-Path initiated the development of BP1001-A, targeting insulin sensitivity to treat obesity and type 2 diabetes, with plans to begin preclinical studies as soon as the fourth quarter of 2024. In a statement, Bio-Path’s President and CEO, Peter Nielsen, expressed enthusiasm about the expansion into obesity treatments, citing the growing epidemic as a critical health issue. “Developing BP1001-A for the treatment of obesity should have a high probability of success as its mechanism of action has the potential to treat insulin resistance, which is the underpinning of obesity, Type 2 diabetes, and other related diseases,” Nielsen said.

The company’s announcement also coincided with the completion of patient enrollment in the third dosing cohort of its ongoing Phase 1 clinical trial for BP1002, a treatment for acute myeloid leukemia (AML).

In a September report from analysts at Morningstar and Pitchbook, the obesity treatment market was forecast to see as many as 16 new drugs by 2029, vying for a slice of this lucrative and rapidly expanding market, currently dominated by industry giants Novo Nordisk and Eli Lilly. The same report projected that the global market for obesity treatments could balloon to $200 billion by 2031, highlighting the significant commercial potential in addressing obesity and related metabolic diseases.

Bio-Path Holdings is primarily known for its DNAbilize® technology, which uses RNAi nanoparticle drugs that can be administered via simple intravenous infusion. The company’s lead product candidate, prexigebersen (BP1001), is currently in a Phase 2 trial for blood cancers, while BP1001-A is being studied for solid tumors in a Phase 1 trial.

As Bio-Path explores the obesity space, this expansion could represent a major opportunity for growth, particularly as the market for obesity treatments continues to evolve at a rapid pace.

Duckhorn Wine Portfolio to be Acquired by Private Equity Firm Butterfly in $1.95 Billion Deal

Posted on by cpatches
Key Points:
– The Duckhorn Portfolio is being acquired by private equity firm Butterfly in an all-cash deal valued at $1.95 billion, offering a 65.3% premium to shareholders.
– The acquisition will return Duckhorn to private ownership and includes popular luxury wine brands such as Decoy, Sonoma-Cutrer, Kosta Browne, and Duckhorn Vineyards.
– Butterfly, a private equity firm with a focus on the food and beverage industry, aims to accelerate Duckhorn’s growth, adding it to a portfolio that includes companies like QDOBA and Chosen Foods.

The Duckhorn Portfolio (NYSE: NAPA), a leading luxury wine producer, announced that it has entered into a definitive agreement to be acquired by Butterfly, a private equity firm, in an all-cash transaction valued at $1.95 billion. This acquisition marks a significant milestone for Duckhorn, which will transition from a public to a private company.

Transaction Details and Shareholder Premium

As part of the deal, Duckhorn shareholders will receive $11.10 per share, representing a 65.3% premium over the volume-weighted average stock price for the 90-day period ending on October 4, 2024. Duckhorn originally went public five years ago, and this acquisition will once again return the company to private ownership. The transaction is expected to close this winter, subject to customary regulatory approvals and closing conditions.

Duckhorn’s board will have the right to terminate the agreement if a better proposal from a third party is made during the 45-day “go-shop” period, which expires on November 20, 2024.

Continued Growth for Duckhorn’s Premium Brands

The Duckhorn Portfolio, established in 1976, is recognized as a premier luxury wine producer in the United States, with popular brands like Decoy, Sonoma-Cutrer, Kosta Browne, and Duckhorn Vineyards. The company reported fiscal year sales growth of 0.7%, reaching $406 million through July 2024. With distribution to over 50 countries, Duckhorn has cemented its position as a leader in the high-end wine market.

This transaction is expected to accelerate the company’s growth and expansion under Butterfly’s ownership. Butterfly’s strategy of partnering with leading food and beverage companies aligns with Duckhorn’s ambitions to expand its luxury wine portfolio.

Butterfly’s Expanding Food and Beverage Investments

Butterfly is a private equity firm focused on investments in the “seed-to-fork” food ecosystem across North America. Its diverse portfolio includes companies like Milk Specialties Global, Chosen Foods, MaryRuth Organics, and QDOBA. Butterfly’s goal is to collaborate with category-leading food and beverage businesses and deliver consistent returns for its investors.

This deal also marks the third time Duckhorn has been under private equity ownership. GI Partners initially invested in Duckhorn in 2007, while TSG Consumer Partners took control in 2016 for approximately $600 million before the company filed for an IPO in 2021.

Release – SKYX Secures $11 Million Strategic Investment at $2.00 Per Share, Preferred Stock Convertible, Led by Global Marriott Hotel-Chain Developer, Lance Shaner, Owner of over 60 Hotels, Primarily Marriotts

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SKYX

Management Emphasizes That It Has Sufficient Cash to Achieve Its Goals Including Recently Announced Collaborations and Being Cash Flow Positive During 2025

The $11 Million Investment includes Leading Builders and Hotel Developers

MIAMI, Oct. 07, 2024 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive smart platform technology company with more than 97 issued and pending patents globally and over 60 lighting and home décor websites, today announced the completion of a strategic investment of $11 million of a new class of preferred stock in SKYX, with a conversion price of $2.00 per common share, with an 8% annual dividend, led by Lance Shaner, Chairman & CEO of Shaner Hotel Group, joined by other strategic and key SKYX investors.

Mr. Shaner said, “I clearly recognize SKYX’s extreme value proposition for hotels, buildings, and homes, and its significant global growth opportunity. I am now aligned to participate as a significant long term minded SKYX investor. I strongly believe that SKYX’s game-changing advanced and smart platform technologies will make hotels, buildings, and homes, advanced, smart, and safe instantly, while saving cost, time, and lives.”

Steve Schmidt, President of SKYX, said, “We are truly excited about this strategic investment, led by a Marriott global hotel chain developer such as Lance Shaner. This represents another significant confirmation of our value proposition for hotels, buildings, and homes, while enhancing our cash position to support our continuing growth including our recent collaborations with U.S. and world leading companies.”

Rani Kohen, Founder and Executive Chairman of SKYX, said, “We are thrilled to have Mr. Shaner as a strategic lead investor, as he contributes vast multi-faceted business experience including in community and hospitality developments. His experience and reputation not only represent success, but his involvement also provides continued validation and a major stamp of approval that SKYX’s advanced and smart technologies are game-changing for buildings, hotels, and homes.”

About Shaner Hotels

Headquartered in State College, Pa., Shaner Hotels is one of the foremost owner-operator companies in the hospitality industry with more than $1 billion invested in 60 hotel properties owned and managed across the U.S., Italy, Greece and the Bahamas. Over the past 40 years, the company has also been engaged in both new development and redevelopment of more than 80 hotel projects with leading brand affiliations such as Marriott International, InterContinental Hotels, Choice Hotels and Hilton. New properties are constantly evaluated as Shaner Hotels continues a conservative yet opportunistic approach to growth. For more information about the company and its divisions visit shanercorp.com.

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:

Jeff Ramson

PCG Advisory

jramson@pcgadvisory.com

Release – ZyVersa Therapeutics Forms New Scientific Advisory Board to Support Development of Inflammasome ASC Inhibitor IC 100 for Obesity with Metabolic Complications

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ZVSA

Oct 7, 2024

PDF Version

  • New Scientific Advisory Board (SAB) comprised of five leading experts in the areas of obesity and metabolic diseases, and four leading inflammasome experts and inventors of IC 100 from University of Miami Miller School of Medicine who have provided ongoing scientific advisory support for IC 100 since its license.

WESTON, Fla., Oct. 07, 2024 (GLOBE NEWSWIRE) — ZyVersa Therapeutics, Inc. (Nasdaq: ZVSA, or “ZyVersa”), a clinical stage specialty biopharmaceutical company developing first-in-class drugs for treatment of inflammatory and renal diseases, announces a new SAB to support advancement of Inflammasome ASC Inhibitor IC 100 for obesity with metabolic complications. Based on its mechanism of action, IC 100, in combination with incretin therapy, is anticipated to augment weight loss, but more importantly, to attenuate the chronic systemic inflammation leading to metabolic complications and other inflammatory comorbidities of obesity.

“We are honored to work with such an accomplished and esteemed group of experts,” stated Stephen C. Glover, ZyVersa’s Co-founder, Chairman, CEO, and President. “Our advisors’ combined expertise and insights in the areas of obesity, metabolic diseases, and inflammasomes will be invaluable as we design IC 100’s clinical development program for obesity and metabolic complications.”

Members of ZyVersa’s Obesity, Metabolic and Inflammatory Diseases SAB are listed below. Full biographies are available on ZyVersa’s Website.

Caroline M. Apovian, MD, FACP, FTOS, DABOM

  • Co-Director, Center for Weight Management and Wellness, Division of Endocrinology, Diabetes, and Hypertension at Brigham and Women’s Hospital
  • Professor of Medicine, Harvard Medical School

Harold Bays, MD, MFOMA, FTOS, FACC, FACE, FNLA, FASPC

  • Medical Director and President, Louisville Metabolic and Atherosclerosis Research Center
  • Clinical Associate Professor, Endocrinology, University of Louisville School of Medicine
  • Chief Science Officer of the Obesity Medicine Association

Helen Bramlett, PhD

  • Professor, Department of Neurological Surgery, University of Miami Miller School of Medicine
  • The Miami Project to Cure Paralysis, University of Miami Miller School of Medicine

Marc-Andre Cornier, MD

  • Professor of Medicine, Medical University of South Carolina
  • Director, Division of Endocrinology, Diabetes and Metabolic Diseases, Medical University of South Carolina

Juan Pablo de Rivero Vaccari, PhD

  • Associate Professor, Department of Neurological Surgery, University of Miami Miller School of Medicine
  • The Miami Project to Cure Paralysis, University of Miami Miller School of Medicine
  • Distinguished Faculty Member, the Center for Cognitive Neuroscience and Aging, University of Miami Miller School of Medicine

W. Dalton Dietrich, III, PhD

  • Kinetic Concepts Distinguished Chair in Neurosurgery, and Scientific Director,
  • The Miami Project to Cure Paralysis, University of Miami Miller School of Medicine
  • Senior Associate Dean for Discovery Science and Co-Director, the Institute for Neural Engineering, University of Miami Miller School of Medicine
  • Professor, Neurological Surgery, Neurology, Biomedical Engineering, and Cell Biology, University of Miami Miller School of Medicine

Robert W. Keane, PhD

  • Professor, Physiology and Biophysics, Neurological Surgery and Microbiology, and Immunology, University of Miami Miller School of Medicine
  • The Miami Project to Cure Paralysis. University of Miami Miller School of Medicine

Samuel Klein, MD

  • William H. Danforth Professor of Medicine, Washington University School of Medicine
  • Director, Center for Human Nutrition, Washington University School of Medicine
  • Chief, Division of Nutritional Science and Obesity Medicine, Washington University School of Medicine

Suneil Koliwad, MD, PhD

  • Chief, Division of Endocrinology and Metabolism, UCSF Health
  • Gerold Grodsky Professor of Diabetes Research, UCSF
  • Mount Zion Health Fund Distinguished Professor of Endocrinology, UCSF

About Inflammasome ASC Inhibitor IC 100

IC 100 is a novel humanized IgG4 monoclonal antibody that inhibits the inflammasome adaptor protein ASC. IC 100 was designed to attenuate both initiation and perpetuation of the inflammatory response. It does so by binding to a specific region of the ASC component of multiple types of inflammasomes, including NLRP1, NLRP2, NLRP3, NLRC4, AIM2, and Pyrin. Intracellularly, IC 100 binds to ASC monomers, inhibiting inflammasome formation, thereby blocking activation of IL-1β early in the inflammatory cascade. IC 100 also binds to ASC in ASC Specks, both intracellularly and extracellularly, further blocking activation of IL-1β and the perpetuation of spread of inflammation that is pathogenic in inflammatory diseases. Because active cytokines amplify adaptive immunity through various mechanisms, IC 100, by attenuating cytokine activation, also attenuates the adaptive immune response. The lead indication for IC 100 is obesity with metabolic complications. To review a white paper summarizing the mechanism of action and preclinical data for IC 100, Click Here.

About ZyVersa Therapeutics, Inc.

ZyVersa (Nasdaq: ZVSA) is a clinical stage specialty biopharmaceutical company leveraging advanced proprietary technologies to develop first-in-class drugs for patients with inflammatory or kidney diseases with high unmet medical needs. We are well positioned in the rapidly emerging inflammasome space with a highly differentiated monoclonal antibody, Inflammasome ASC Inhibitor IC 100, and in kidney disease with phase 2 Cholesterol Efflux Mediator™ VAR 200. The lead indication for IC 100 is obesity with metabolic complications, and for VAR 200, focal segmental glomerulosclerosis (FSGS). Each therapeutic area offers a “pipeline within a product,” with potential for numerous indications. The total accessible market is over $100 billion. For more information, please visit www.zyversa.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These include statements regarding management’s intentions, plans, beliefs, expectations, or forecasts for the future, and, therefore, you are cautioned not to place undue reliance on them. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. ZyVersa Therapeutics, Inc (“ZyVersa”) uses words such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “will,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “guidance,” and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions. Such forward-looking statements are based on ZyVersa’s expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors, including ZyVersa’s plans to develop and commercialize its product candidates, the timing of initiation of ZyVersa’s planned preclinical and clinical trials; the timing of the availability of data from ZyVersa’s preclinical and clinical trials; the timing of any planned investigational new drug application or new drug application; ZyVersa’s plans to research, develop, and commercialize its current and future product candidates; the clinical utility, potential benefits and market acceptance of ZyVersa’s product candidates; ZyVersa’s commercialization, marketing and manufacturing capabilities and strategy; ZyVersa’s ability to protect its intellectual property position; and ZyVersa’s estimates regarding future revenue, expenses, capital requirements and need for additional financing.

New factors emerge from time-to-time, and it is not possible for ZyVersa to predict all such factors, nor can ZyVersa assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements included in this press release are based on information available to ZyVersa as of the date of this press release. ZyVersa disclaims any obligation to update such forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

Corporate, Media, and IR Contact:
Karen Cashmere
Chief Commercial Officer
kcashmere@zyversa.com
786-251-9641

Release – Kratos and Radisys Partner on Cloud Native 5G-NTN OpenSpace Solutions to Enable Seamless Satellite Access for Terrestrial Networks

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on KTOS

SAN DIEGO, Oct. 07, 2024 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in the defense, national security and global markets, announced today that it is partnering with Radisys® Corporation, a global leader in open telecom solutions, to develop cloud native 5G-NTN (non-terrestrial network) solutions for satellite connectivity. These solutions will be available through Kratos OpenSpace® Platform, the only commercially available, fully software-defined satellite ground system.

Radisys is a leading Radio Access Network (RAN) partner for telecom and mobile network operators around the world. Radisys and Kratos share a common vision for the future of connectivity to provide open standards-based solutions that interoperate seamlessly across terrestrial and space networks.

“Radisys is the ideal partner for Kratos in leading the satellite industry forward with 5G-NTN solutions,” said Greg Quiggle, SVP Product Management at Kratos. “Together, we are building a cloud native end-to-end 5G solution for non-terrestrial networks in the OpenSpace Platform. This new solution will enable open, highly scalable high-performance 5G service delivery through any 5G core network worldwide.”

Together, Kratos and Radisys are developing a 5G-NTN satellite base station equivalent to a cellular base station but delivered completely as cloud native software. The ability to do satellite signal processing in software brings standards-based interoperability for quick orchestration of networks within a variety of elastic environments. Doing so better positions satellite operators and service providers to capture the $35 billion in revenue opportunities over the next decade recently identified by GSMA Intelligence at Mobile World Congress earlier this year.

“Our collaboration with Kratos on 5G-NTN solutions marks a significant milestone in the advancement of 5G non-terrestrial network technologies,” said Munish Chhabra, Head of Mobility Software and Services Business, Radisys. “This partnership will drive innovative applications, improve high-speed and ubiquitous global connectivity with seamless TN-NTN integration. Radisys’ unique value proposition of creating 5G-NTN RAN with ORAN disaggregated containerized architecture will help reduce the costs associated with non-terrestrial network communications and facilitate new NTN deployments and use cases.”

5G NTN technology allows satellites to provide internet access to almost anywhere on Earth in much the same way 5G works across cellular towers today. Kratos’ and Radisys’ 5G-NTN solutions will enable tighter integration with terrestrial networks to deliver true 5G mobile broadband over satellites.

According to Carmel Ortiz, SVP of Technology and Innovation at Intelsat, one of the world’s largest global satellite operators, “We are implementing Kratos’ OpenSpace Platform to support our next generation, multi-orbit network. This partnership between Kratos and Radisys gives us confidence that we will be able to offer our consumer, business and government customers best in class 5G services.”

About Kratos OpenSpace
Kratos’ OpenSpace family of solutions enables the digital transformation of satellite ground systems to become a more dynamic and powerful part of the space network. The family consists of three product lines: OpenSpace SpectralNet for converting satellite RF signals to be used in digital environments; OpenSpace quantum products, which are virtual versions of traditional hardware components; and the OpenSpace Platform, the first commercially available, fully orchestrated, software-defined ground system. These three OpenSpace lines enable satellite operators and other service providers to implement digital operations at their own pace and in ways that meet their unique mission goals and business models. For more information about the OpenSpace family visit www.KratosDefense.com/OpenSpace.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.

About Radisys
Radisys is a global leader in open telecom solutions and services. Its disaggregated platforms and integration services leverage open reference architectures and standards combined with open software and hardware, enabling service providers to drive open digital transformation. Radisys offers an end-to-end solutions portfolio from digital endpoints to disaggregated and open access and core solutions, to immersive digital applications and engagement platforms. Its world-class and experienced network services organization delivers full lifecycle services to help service providers build and operate highly scalable and high-performance networks at optimum total cost of ownership. For more information, visit www.Radisys.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Burghoff
claire.burghoff@kratosdefense.com

Investor Information:
877-934-4687
investor@kratosdefense.com

Release – Comstock to Acquire Quantum Generative Materials LLC

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on LODE

Strategic Investment in Artificial Intelligence for Materials Discovery in Energy Applications

VIRGINIA CITY, NEVADA, October 7, 2024 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced the execution of an agreement by Comstock, Deep Interstellar Research LLC (“DIR”), and Quantum Generative Materials LLC (“GenMat”) under which Comstock effectively acquired substantially all of the equity in GenMat, including GenMat’s artificial intelligence materials discovery platform, materials synthesis, and related assets, business, and most of the related technical team.  Concurrently, as part of the acquisition of GenMat, Deep Prasad’s holding company will be receiving GenMat’s consolidated satellite, mission control software, other related low earth orbit assets, and space team. As a result of the transaction, Comstock will own substantially all of GenMat’s issued and outstanding equity and continue development and commercialization of its breakthrough physics-based artificial intelligence products and services to discover new materials and other technologies, primarily for decarbonizing energy.

“Our interest in GenMat was and remains grounded in the critical need and use of artificial intelligence for materials science and mineral discovery, for breakthrough energy applications and other mature industries with large addressable markets,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Artificial intelligence is even more critical today, as rapidly evolving AI platforms have begun to accelerate the pace of global innovation and redefine industries and competitive requirements. Frankly, anyone that is not integrating AI into their core competencies and capacities will likely either be disrupted or completely replaced.”

OpenAI’s ChatGPT employs a generative large language model to generate new, valuable information for a wide range of use cases at orders of magnitude faster than what was previously possible. GenMat’s AI operates similarly, but instead of generating words and language for a wide range of use cases, it generates new atoms, molecules, and physical systems for a wide range of materials applications, harnessing aspects of humanity’s collective knowledge of physics and chemistry combined with proprietary synthetic datasets to discover new materials in an exponentially shorter time than traditional methods have allowed.

Kevin Kreisler, Comstock’s chief technology officer, added, “focusing and building on GenMat’s team and competencies in materials science, computational chemistry, and computational machine learning, while incorporating the bleeding edge of emerging artificial intelligence technologies will reinforce our competitive advantages in our metals, mining, and fuels businesses, while dramatically expanding our existing innovation capacity as we continue to develop more advanced solutions for enabling systemic decarbonization.”

Since our initial investment in 2021, GenMat has built an exceptional team and achieved a series of critical milestones in materials simulation and synthesis, in addition to successfully launching its orbital imaging and remote sensing satellite, developing its proprietary mission control software, and commencing commercial sales in its space business.

“Deep Prasad positioned GenMat for an extraordinary second opportunity commercializing satellite development, manufacturing and management that requires different skills and dedication,” continued De Gasperis. “Launching a new company that will leverage GenMat’s existing space-based assets evolved as the logical, win-win solution that allowed our respective companies to maximize the value of each enterprise, with Comstock fully owning and dedicating to GenMat, and Deep fully dedicated to, owning, and leading the new space-based enterprise.”

“GenMat is one of the world’s first physics-based AI for materials science startup companies,” added Deep Prasad, GenMat’s founder and former chief executive officer. “We couldn’t be prouder of our accomplishments in materials simulation and synthesis, and the emerging opportunities with space-based systems and technologies. We are excited with Comstock’s plans to build on our work to date, and our ability to now fully dedicate and focus on building our space-based technologies, assets, and operations.”

“The strategic value of leveraging physics-based AI cannot be overstated,” concluded Kreisler. “AI will allow us to build on our competitive advantages in this rapidly changing world, while positioning us to generate extraordinary shareholder value as we fulfill our mission to enable systemic decarbonization by innovating, developing, commercializing, and monetizing new technologies for producing, distributing, storing, and using energy more efficiently.”

Mr. Kreisler will lead the management of GenMat’s ongoing technology development and commercialization efforts, including as part of Comstock’s growing innovation capabilities, projects, and partner networks.

Technology Readiness Level

Comstock uses the technology readiness scale to estimate the readiness of technology from conception to commercialization, iterating sequentially as follows: (i) TRL 1 (basic principles observed and reported); (ii) TRL 2 (technology concept and application formulated); (iii) TRL 3 (analytical and experimental proof of concept); (iv) TRL 4 (validation in laboratory environment); (v) TRL 5 (pre-pilot scale validation in relevant environment); (vi) TRL 6 (pilot prototype demonstration in relevant environment); (vii) TRL 7 (scaled-up commercial prototype in operational environment); (viii) TRL 8 (commercial system demonstration); (ix) TRL 9 (commercial maturity).

GenMat’s materials discovery AI is at TRL 3 in some applications. GenMat is focused on the minimum sufficient requirements for simulating and synthesizing breakthrough new materials for use in energy applications at TRL 6, followed by both commercialization and integration into Comstock’s businesses.

Comstock’s original 2021 investment agreement with GenMat called for a milestone-based investment of $50,000,000 for 50% of GenMat’s fully diluted equity, including about $15,000,000 previously paid by Comstock. Comstock and GenMat agreed to terminate each of their prior agreements as part of the new acquisition agreement. Comstock expects to efficiently operate, integrate, and commercialize GenMat.

About Comstock Inc.

Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization and the clean energy transition by efficiently converting under-utilized natural resources, primarily, woody biomass into low-carbon renewable fuels, end-of-life metal extraction and renewal, and generative AI-enabled advanced materials synthesis and mineral discovery for sustainable mining. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its Twitter, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contacts

For investor inquiries:
RB Milestone Group LLC
Tel (203) 487-2759
ir@comstockinc.com

For media inquiries or questions:
Comstock Inc., Tracy Saville
Tel (775) 847-7573
questions@comstockinc.com

Forward-Looking Statements

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 market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; 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 and asset 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; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of 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, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other 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 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; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; 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 as a result 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.

Release – Bit Digital, Inc. Announces Monthly Production Update for September 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, October 4, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced its unaudited digital asset production, HPC services revenue, and corporate updates for the month of September 2024.

Corporate Highlights for September 2024

  • The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of September 30, 2024. The Company earned approximately $4.2 million of unaudited revenue from this contract during the month of September 2024.
  • In September 2024, the Company produced 51.5 BTC, a 3.6% decrease compared to the prior month.
  • The Company’s active hash rate was approximately 2.43 EH/s as of September 30, 2024.
  • Treasury holdings of BTC and ETH were 731.3 and 27,388.9 with a fair market value of approximately $46.3 million and $71.3 million, respectively, on September 30, 2024.
  • The BTC equivalent1 of our digital asset holdings as of September 30, 2024, was approximately 1,863.0 or approximately $118.0 million.
  • The Company had cash and cash equivalents of $104.0 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $222.0 million, as of September 30, 2024.

Proof-of-Stake Highlights

  • The Company had approximately 21,568 ETH actively staked in native staking protocols as of September 30, 2024.
  • Bit Digital earned a blended APY of approximately 3.3% on its staked ETH position for the month of September 2024.
  • The Company earned aggregate staking rewards of approximately 57.9 ETH during September 2024.

Upcoming Events

  • AIM Summit Dubai Conference, Dubai, United Arab Emirates on October 21-22

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers specialized cloud-infrastructure services for artificial intelligence applications. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice 

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2023. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

PDS Biotechnology (PDSB) – Clinical Trial in Cervical Cancer Shows Improved Survival and Supports Use In Other Tumors

Posted on by cpereira@noblefcm.com


Monday, October 07, 2024

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of molecularly targeted cancer and infectious disease immunotherapies based on the Company’s proprietary Versamune® and Infectimune™ T-cell activating technology platforms. Our Versamune®-based products have demonstrated the potential to overcome the limitations of current immunotherapy by inducing in vivo, large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple therapies, based on combinations of Versamune® and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them. The Company’s pipeline products address various cancers including HPV16-associated cancers (anal, cervical, head and neck, penile, vaginal, vulvar) and breast, colon, lung, prostate and ovarian cancers.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

Interim Data From Phase 2 Cervical Cancer Trial Presented. An interim analysis from the Phase 2 ImmunoCerv Trial in locally advanced cervical cancer was presented at the American Society For Radiation Oncology (ASTRO) annual meeting on October 1, 2024. Overall survival (OS) and progression free survival (PFS) showed clinically meaningful improvements over published studies. We believe this supports the efficacy of Versamune HPV in cervical cancer as well as other HPV16+ tumors in other tissues.

Study Design. The ImmunoCerv study was an investigator-initiated trial (ITT) conducted at MD Anderson Cancer Center in Houston, Texas. The study enrolled 17 patients with newly diagnosed high-risk HPV-related cervical tumors at least 5 cm in size. Patients received up to 5 doses of Versamune HPV along with standard of care chemotherapy and radiation.


Get the Full Report

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.

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. 

InPlay Oil (IPOOF) – Tempering 2024 and 2025 Expectations; Rating Remains an Outperform

Posted on by cpereira@noblefcm.com


Monday, October 07, 2024

InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Lower third quarter commodity prices. During the third quarter, West Texas Intermediate (WTI) crude oil prices declined 18.2% to $68.17 per barrel and averaged $75.35 per barrel. InPlay sells oil at monthly average Edmonton Par prices which are based on the price of WTI crude oil minus quality differentials, transportation, and marketing fees. Crude oil prices have risen since the end of the quarter due to heightened geopolitical risk with WTI crude oil priced at $74.45 per barrel on October 4. WTI and Henry Hub futures prices average $71.16 per barrel and $3.40 per mcf in 2025. We note that natural gas prices in Canada were weak relative to Henry Hub prices during the third quarter.

Outlook for 2025. For 2024, the company forecast average production of 8,700 to 9,000 barrels of oil equivalent per day (boe/d). We are forecasting 2024 production of 8,682 barrels of oil equivalents per day compared to our previous estimate of 8,952 boe/d due to lower third and fourth quarter expectations. We think the company may start off with a conservative 2025 plan that targets production at the upper end of 2024 guidance and have lowered our production expectations to 8,971 from 9,638 barrels of oil equivalents per day.


Get the Full Report

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.

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) – September Production In-line with Last Month

Posted on by cpereira@noblefcm.com
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Monday, October 07, 2024

Joe Gomes, CFA, 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.

AI Services. Bit Digital had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of September 30, 2024, and earned approximately $4.2 million of unaudited revenue from this contract during the month.

Mining Side. The Company produced 51.5 BTC in September, a 3.6% decrease from last month’s 53.4 BTC. The active hash rate was 2.43 EH/s, flat with the previous month. Management will continue to be opportunistic with miner purchases dependent upon the returns, in our view.


Get the Full Report

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.

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.