HempFusion Wellness (TSX: CBD.U) (OTC: CBDHF) (FWB: 8OO) co-founder and CEO Dr. Jason Mitchell and chief corporate officer Danny Brody were featured on a recent segment of the Cannabis Investing Podcast. The program provides actionable investment insight, context with which to understand the burgeoning cannabis industry, and interviews with C-level executives, scientists, law and sector experts. During their segment, Mitchell and Brody discussed highlights in the cannabis industry, including the recent multibillion deal between GW Pharma and Jazz Pharmaceuticals, as well as radical transparency, the industry’s methodical growth and how companies can become more efficient during COVID-19. They also discussed what makes HempFusion distinctive among other companies operating in the market and prospects of the company going public. From the beginning, HempFusion was committed to compliance, which was a different approach than others operating in the space. That commitment has served the company as the industry has grown and become more regulated; HempFusion is now ahead of the game because it is already compliant. The two also discussed the company’s future strategic plan. Mitchell noted that HempFusion is a completely science-backed company with patented products and proprietary delivery methods, very similar to GW Pharma. “The big fish are now circling,” said HempFusion Wellness co-founder and CEO Dr. Jason Mitchell during the show.
HempFusion is a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition. HempFusion distributes its family of brands, including HempFusion, Probulin Probiotics, Biome Research and HF Labs, to approximately 4,000 retailers across all 50 states of the United States and select international locations. Built on a foundation of regulatory compliance and human safety, HempFusion’s diverse product portfolio comprises 46 SKUs (“SKUs”) including tinctures, proprietary FDA Drug Listed over-the-counter (“OTC”) topicals, doctor/practitioner lines and more. With a strong focus on research and development, HempFusion has an additional 30 products under development. HempFusion is a board member of the US Hemp Roundtable, and HempFusion’s wholly owned subsidiary, Probulin Probiotics, is one of the fastest-growing probiotics companies in the United States, according to SPINs reported data. HempFusion’s CBD products are based on a proprietary Whole Food Hemp Complex(TM) and are available in store or online. For more information about the company, visit www.HempFusion.com.
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Many experts caution that Russia and China may soon join forces to prevent the United States from dominating an ET mining base in space.
The former Trump administration had announced that by 2024, the country would be returning astronauts to the moon, in addition to proposing a worldwide legal framework for mining on the celestial body. The framework, named the Artemis Accords, encouraged citizens in the country to mine for commercial purposes, both on the moon and on other celestial bodies.
Led by the National Aeronautics and Space Administration (“NASA”) in the U.S., the accords were signed in October by the United Arab Emirates, Australia, Italy, Canada, Luxembourg, Japan and England.
Former legislative director Elya Taichman explained that by failing to engage China or Russia as potential partners, the Trump administration not only risked the economic opportunity but also aggravated a national security threat. Taichman wrote that the Artemis Accords had driven Russia and China to work together in space, both out of necessity and fear.
Roscosmos, the space activities hub in Russia, was the first to express its opinion on the policy, comparing it to colonialism. Sergey Saveliev, the Roscosmos deputy general director for international cooperation, stated that history had shown what happened when one nation decided to begin occupying territories in their interest, adding that everyone remembered the results of such actions.
Historically speaking, China has been omitted from international space orders, led by the U.S. An American legislative provision put into effect in 2011 has limited the ability of NASA to work with China in space. Additionally, the nation is not a partner of the International Space Station (“ISS”) program.
Policy experts Emily Lawrence and Anne-Marie Slaughter both say that China and America should work together in space. They note that if America was able to work with the Soviet Union during the Cold War on space policy, then the country can also find a way to work together with China. Lawrence and Slaughter both assert that while the task may not be easy, it is necessary. Not only will the partnership establish an international framework comprising all spacefaring nations but it would also prevent the moon from becoming the next Wild West.
Back on U.S. soil, Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) is making full use of its uranium extraction facilities, namely White Mesa Mill located in Utah, Nichols Ranch Plant in Wyoming and the Atta Mesa Plant found in Texas.
NOTE TO INVESTORS: The latest news and updates relating to Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) are available in the company’s newsroom at http://ibn.fm/UUUU
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Gov. Phil Murphy of New Jersey recently signed a psilocybin reform measure that reclassified possession of up to one ounce of psilocybin mushrooms under a disorderly persons’ offense. This reclassification means that persons caught with small amounts of psilocybin will be subject to up to six months in jail, a $1000 fine or both. The offense was previously punishable with fines of up to $15 000 and a penalty of three to five years in jail, and was considered a third-degree crime.
This change puts psilocybin mushroom possession in the state on par with resisting arrest, shoplifting, harassment or simple assault.
Murphy signed the psilocybin law A5084/S3256 along with other bills.
Legislators had sent the initiative to the governor in December 2020, after approving it alongside two other cannabis-related bills; one to decriminalize possession of small amounts of marijuana and another to implement the legal cannabis market of the state, which was legalized by New Jersey voters during the November 2020 election.
Originally, the psilocybin reform bill had been introduced as an amendment to the initiative on decriminalization. However, the bill’s supporters converted it into a separate measure after some legislators stated that it was inappropriate to force it into the cannabis legislation.
Sen. Nicholas Scutari, who was the first to introduce the psilocybin amendment, stated that while the mushrooms were still illegal in the state, there was no point in ruining lives for a first offense. He went on to explain that the governor recognized the failed drug war, adding that a felony conviction for the possession of a psychedelic mushroom was an old relic of the drug war.
The governor is yet to sign either of the cannabis bills, primarily because he is against the bills’ lack of penalties for underage possession. To address the governor’s concerns, legislators approved a new measure, under which individuals aged 18 to 20 years old would have to pay a $50 fine for possession of up to one ounce of marijuana and a $100 fine for more than an ounce of marijuana.
Last month during his state of the state address, Murphy observed that New Jersey was about to implement cannabis legalization. While the state’s new law on psilocybin doesn’t decriminalize the psychedelic substance, it does revoke criminal penalties for the simple possession of psychedelic substances.
New Jersey is not the only state to follow this path. For instance, a bill introduced in New York recently would levy $50 fines instead of imposing criminal penalties for possession of small amounts of any drug.
Meanwhile, Cybin Inc. (NEO: CYBN) (OTC: CLXPF) has a management team endowed with veterans who have garnered immense experience in the consumer product and pharmaceutical industry backgrounds. This expert team is intent on enabling Cybin to make its mark upon the nascent psychedelics industry.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (OTC: CLXPF) are available in the company’s newsroom at https://ibn.fm/CYBN
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Brain cancer drug developer CNS Pharmaceuticals is celebrating recent news that the U.S. Food and Drug Administration (“FDA”) granted investigational new drug (“IND”) status to CNS Pharmaceuticals’ leading candidate for fighting glioblastomas
Glioblastomas are a class of aggressive brain cancers with no known cure and a median life expectancy of 14 to 16 months following diagnosis
The FDA’s decision to grant CNSP’s request for IND status clears the way for the company to begin human clinical trials within the next couple of months
The company’s sublicensee partner, WPD Pharmaceuticals, will also prepare a first-ever Phase I trial for drug safety in children, planned later this year in Poland
During the last year the COVID-19 pandemic has occupied large headlines worldwide while small neuro-oncology biopharmaceutical company CNS Pharmaceuticals (NASDAQ: CNSP) has been quietly building a newsworthy effort of its own to improve a select group of individuals’ lives, preparing to launch medical trials that could help end the unrelenting and ultimately fatal advance of glioblastoma brain cancers.
CNSP acquired the worldwide exclusive licensing to its leading drug candidate Berubicin, an anthracycline that has demonstrated its potential in fighting off glioblastomas and a stand-out drug among other anthracyclines because of its apparent ability to effectively cross the blood-brain barrier and target central nervous system malignancies.
In a January podcast interview, company CEO John Climaco showed his excitement at news the U.S. Food and Drug Administration (“FDA”) had granted Berubicin investigational new drug (“IND”) status, clearing the way for the company to start human clinical trials and to ship the experimental drug across state lines to clinical investigators.
“This is the biggest news we’ve announced since our IPO back in November 2019,” Climaco said. “Based on that IND approval, we expect, in the next 90 to 120 days, we will go from zero active clinical trials today to three active clinical trials. … We have five employees at this company, so we are a tiny little shop. But we have an absolute powerhouse compound.”
The podcast, co-hosted by Sid Vaidya and Eric Gershey, is available for on-demand listening at https://anchor.fm/c3chat.
Berubicin’s “powerhouse” potential was demonstrated in an initial Phase 1 trial completed by another company well over a decade ago. Within the very limited pool of participants in the trial, 44 percent saw their disease stabilize or even begin to improve. One patient emerged cancer-free and as of the most recent medical assessment last year was still alive and still in remission 14 years after the Phase 1 trial — a remarkable exception to the rule that the vast majority of glioblastoma patients will be dead within 14 to 16 months of diagnosis.
CNSP’s planned Phase 2 trials will use a much larger pool of 243 patients for its real-time comparison of Berubicin’s performance against the “standard of care” chemotherapy drug lomustine in side-by-side brackets that compare the 162 Berubicin users with 81 lomustine users. The trials will take place in about 60 research centers scattered across North America, Europe and the Asia-Pacific region to help deliver a diverse representation of individuals (https://ibn.fm/4sWQi).
While the adult trials are taking place, CNSP’s sublicensee partner for testing will also be preparing a first-ever Phase I trial for drug safety in children who have glioblastomas and have already failed to see a significant turnaround with standard-of-care medications. The pediatric trial is slated to begin later in the year in Poland.
For more information, visit the company’s website at www.CNSPharma.com
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Canada’s Clean Power Capital Corp., a holding company focused on investing in the renewable energy sector, recently increased its equity interest in California’s PowerTap Hydrogen Fueling Corp. from 90 percent to 94.5 percent
PowerTap inked an agreement last month with the companies collectively comprising the Andretti Group, operated by auto racing legends Mario and Michael Andretti to situate and market PowerTap’s hydrogen fueling technology
PowerTap followed up on the agreement by appointing Michael Andretti to the company board
PowerTap recently announced the strategy behind its business model, focusing on profit motivations for the retail locations where the fueling stations will be located and PowerTap’s opportunities to expand without land lease expenses
North America is undergoing a renewed interest in renewable energy sources under the administration of new U.S. President Joe Biden and Canada’s Prime Minister Justin Trudeau
PowerTap Hydrogen Fueling Corp., a majority-owned investee interest of investment issuer Clean Power Capital (CSE: MOVE) (FWB: 2K6) (OTC: MOTNF), is stepping up its dedication to clean energy infrastructure through cost-effective hydrogen fuel IP, modular fuel station product design flexibility and a launch plan for building a fueling network across California and into the rest of the nation.
PowerTap recently announced the appointment of auto racing legend Michael Andretti to its board following its January agreement with the businesses collectively known as the Andretti Group to install its 1,250-kilogram hydrogen production and dispensing stations at certain Andretti properties and to further market the stations to Andretti’s deep network of outside oil companies, chain retailers, cardlock operators and independent fueling stations.
The Andretti Group family of companies includes more than 100 retail chain stores focused on fuel, convenience and food operations. It runs or supplies facilities under the Chevron, Texaco, Shell, 76, Circle K, Pacific Pride and CFN brands, among others, throughout California, Oregon and Washington, according to the news release (https://ibn.fm/GI9vP).
PowerTap and the Andretti Group released further details on Feb. 8 regarding their strategic business model for the fueling stations and the ways PowerTap and retailers will benefit from the operation. Key points include using sites where the retailer can provide PowerTap with the necessary land for its modular hydrogen production and dispensing units without the need for lease expense to PowerTap and the retailer generates a profit from fuel sales by traditional methods, while PowerTap installs and maintains the units.
While the retailer is able to benefit from new traffic and find a new use for under-utilized land, PowerTap is able to operate its units without land expenses and is able to offer its customers the amenities inherent in existing fuel retail sites, leveraging the expertise of the Andretti Group’s affiliates.
“This exciting win-win relationship between PowerTap and the Andretti Group along with their industry partners will accelerate the deployment of our proprietary patented hydrogen production and dispensing technology, and provide a particularly compelling revenue share model with mutual benefit for all partners,” Incoming PowerTap President Salim Rahemtulla stated in the company’s announcement (https://ibn.fm/FRjnR).
North America’s renewed commitment to pursue “clean energy” through sources such as hydrogen fuel, as demonstrated by new U.S. President Joe Biden’s executive orders driving the country toward a carbon pollution-free power sector by 2035 (https://ibn.fm/jAXDY), coupled with Canada’s recently announced hydrogen strategy for building a net-zero carbon emissions infrastructure within the next three decades (https://ibn.fm/fZDVN) and Prime Minister Justin Trudeau’s acknowledgement that the two countries are poised to become collaborative partners in the clean energy supply chain (https://ibn.fm/cbl43), are further cause for excitement at PowerTap and Clean Power Capital.
PowerTap’s hydrogen-based technology is already being utilized at some hydrogen stations located at private and public sites in California, Texas, Massachusetts and Maryland. Clean Power announced Feb. 8 that it has increased its investment in PowerTap from a 90 percent equity interest to 94.5 percent as the Andretti agreements continue to build momentum (https://ibn.fm/LFkpy).
Clean Power holds 10 investments in varied sectors but restructured its corporate investment policy last year to focus on renewable energy. The company successfully held nearly $120 million in investments during 2020.The consideration paid for the additional 4.5 percent of PowerTap this year consisted of an aggregate of 18 million common shares in the capital of the company at a value of $2.72 per consideration share. The vendors have an arms-length relationship to each other and none of them individually owns more than 10 percent of the company’s shares on a non-diluted basis.
Clean Power is listed on the Canadian Securities Exchange’s CSE Composite Index (R) and the CSE25 (TM) index, and the company announced in December that it has formed a strategic committee to examine the possibility of listing common shares on the NASDAQ exchange in the United States (https://ibn.fm/2f2Yl).
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at https://ibn.fm/MOTNF
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Bergen Neurology Consultants utilized BRSF’s devices to improve patient care
Minimal training means more staff can administer, monitor the EEG; more appointments can be scheduled
Brain Scientific (OTCQB: BRSF), a commercial-stage, health-care company focused on developing innovative and proprietary medical devices and software, has created two devices designed to disrupt the EEG market. The NeuroCap(TM) and NeuroEEG(TM) offer cost-effective, disposable substitutes that help improve patient’s access to neurological care. The company is also helping improve the quality of care and solutions that practices can offer their patients.
An example of the impact of the device can be seen through Bergen Neurology Consultants, a premier provider of neurological care (https://ibn.fm/6BVN6). Bergen Neurology wanted to offer its patients ambulatory EEGs. The problem is that strict Medicare regulations required a routine EEG first. Bergen Neurology’s offices were not set up to provide the traditional in-office EEGs that would make the ambulatory ones “medically necessary” for the insurance companies.
The company discovered an optimal solution in the NeuroCap and NeuroEEG. Through its wholly owned subsidiary, MemoryMD Inc., BRSF was able to help Bergen Neurology Consultants streamline its practice, recoup revenue and improve patient care.
Because of their size and ease of use, the NeuroCap and NeuroEEG allowed Bergen Neurology to implement in-office EEGs within a week. One problem with traditional EEGs is that administering and monitoring requires an EEG technician. Within an hour, all of Bergen’s six medical assistants were trained in how to administer and monitor the BRSF EEG devices. Workers who typically are involved in patient scheduling and administrative duties were allocated to this vital task with minimal training.
This meant that more staff could administer the in-office EEGs allowing the practice to schedule them more often. The time it also took to use the NeuroCap and NeuroEEG decreased from one hour to 40 minutes, allowing for more tests to be scheduled. In addition, the original problem of reimbursement from insurance companies was resolved.
Brain Scientific is working hard to disrupt the EEG industry and provide solutions that make neurological care more accessible. The company’s work with Bergen Neurology is an example of how BRSF is establishing a new innovative norm for clinicians.
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Augusta Gold (OTCQB: BFGCD) (CSE:G) (FSE: 11B) has commenced its 110,000 metre exploration program at its highly prospective wholly owned Bullfrog Gold project. The announcement noted that the number of drill rigs actively drilling at the site is expected to increase from two to five by April. In addition, five key exploration targets will be drilled during the two-phase approach, with advancing development in parallel with the drill program including archaeological studies, geologic mapping, geotechnical drilling and a geophysics survey. The $20 million 2021 exploration program includes 110,000 metres of diamond drilling with reverse circulation planned. The company noted that as drill results are received, it will compile, interpret and release those results. “We are excited to have commenced our multi-targeted exploration program in the heart of the prolific Bullfrog district,” said Augusta Gold president and CEO Maryse Belanger in the press release. “With an exploration budget of up to $20 million, we are focused on mineral resource expansion, increasing the confidence level in our current mineral resource and targeting a brand-new discovery. The program contemplates two phases on five key exploration targets that have been identified to date, with more expected in the future as we advance our program. With a large land package of approximately 7,800 acres that has three historical operating pits and a current open mineral resource we see significant exploration potential.”
Augusta Gold is a rapidly growing exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Bullfrog Gold Project and pursing accretive M&A opportunities. The Bullfrog Gold Project is located in the prolific Bullfrog district approximately 120 miles northwest of Las Vegas, Nevada, and four miles west of Beatty, Nevada. The company controls approximately 7,800 acres of mineral rights including the Bullfrog and Montgomery-Shoshone deposits and has further identified significant additional mineralization around the existing pits and defined several exploration targets that could further enhance the project. Augusta Gold is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. For more information please visit www.AugustaGold.com .
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XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), a bioscience accelerator at the leading-edge of the life science industry, has partnered with a German diagnostics firm to become a leader in commercializing breakthrough tech in rapid, definitive testing for COVID-19 in strategic and convenient point-of-care (“POC”) settings. A recent article noted that, using standard polymerase chain reaction (“PCR”) equipment, XPhyto has the ability to significantly speed up testing for COVID-19. The equipment is commonly found in most analytical laboratories as well as hospitals and a range of POC settings. The announcement was based on the successful trial validation results of XPhyto’s proprietary rapid PCR test kit, developed in collaboration with Stuttgard-based 3a-Diagnostics GmbH. The company plans on initially applying for regulatory approval in Germany while also preparing for a commercial launch of its product early this year. The article reported that faster definitive diagnostic processes were especially urgent as the go-to rapid antigen testing has fallen out of favor; the article also called PCR the gold standard for coronavirus testing because of its reliability for generating accurate results. “XPhyto’s announcement attests to the completion of successful validation trials, which demonstrated diagnostic-level sensitivity and specificity for the test kit,” the article stated. “However, it is not the high degree of accuracy that really sets the test apart; instead, it is the ability to shorten testing turnaround times from at least a few hours to as little as 25 minutes. . . .XPhyto’s kit only requires a single PCR cycle which is complete in 20 minutes, while most PCR test systems require at least an hour — and sometimes several — to complete a mult-step viral RNA amplification process. XPhyto’s test kit also requires significantly less non-PCR laboratory processing time, including labour. Furthermore, it employs reagents that are readily available.”
XPhyto Therapeutics is a bioscience accelerator focused on next-generation drug delivery, diagnostic and new active pharmaceutical ingredient investment opportunities including precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral-health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. XPhyto has research and development operations in North America and Europe, with an operational focus in Germany, and the company is currently focused on regulatory approval and commercialization of medical products for European markets. For more information about this company, please visit www.XPhyto.com
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Multiple clinical studies anticipated to launch in Calendar 2021, notably pivotal Phase 3 clinical studies of PH94B as a potential acute treatment of anxiety in adults with social anxiety disorder (SAD)
Strengthened Balance Sheet upon closing of $100 million underwritten public offering
SOUTH SAN FRANCISCO, Calif., Feb. 11, 2021 — VistaGen Therapeutics , Inc. (NASDAQ: VTGN), a biopharmaceutical company committed to developing and commercializing a new generation of medicines with the potential to go beyond the current standard of care for anxiety, depression and other central nervous system (CNS) disorders, today reported its financial results for its fiscal 2021 third quarter ended December 31, 2020, and provided an update on planned clinical advancement of its CNS pipeline throughout the remainder of this calendar year.
“Calendar 2020 was transformative, highlighted by closing a PH94B partnership, a positive meeting with the FDA regarding the key aspects of the study design for our upcoming pivotal Phase 3 studies of our PH94B nasal spray in social anxiety disorder and, during the most recent quarter, closing a $100 million financing which involved significant participation from leading healthcare institutional investors such as Acuta Capital, New Enterprise Associates, OrbiMed and Venrock Healthcare Capital Partners, among others. We are encouraged by these transformative milestones. Together, they have further advanced our tenacious pursuit to bring life-changing medications to the millions affected by anxiety, depression and other mental health challenges worldwide,” said Shawn Singh, Chief Executive Officer of VistaGen .
Mr. Singh continued, “We believe we have sufficient capital to fund all of our currently planned nonclinical and clinical studies across our pipeline. As a result, we expect to launch several clinical studies this calendar year, notably our pivotal Phase 3 clinical studies of PH94B as a potential acute treatment of anxiety in adults with social anxiety disorder, as well several small exploratory PH94B Phase 2 studies in adult patients experiencing additional anxiety-related disorders. This year, we will also complete preparations to launch Phase 2B clinical development of PH10 as a potential rapid-onset stand-alone treatment for major depressive disorder in early 2022. Finally, later this year, based on successful preclinical studies involving AV-101 alone and in combination with probenecid, we will launch Phase 1B clinical development of the combination to enable potential exploratory Phase 2 development of in several CNS disorders.”
Corporate Highlights in Fiscal Q3 2021:
Closed $100 million underwritten public offering led by Jefferies Group LLC and William Blair & Company involving significant participation from key healthcare-focused institutional investors, such as Acuta Capital, New Enterprise Associates, OrbiMed and Venrock Healthcare Capital Partners.
Expanded R&D team with appointment of Louis Monti, M.D., Ph.D., a pioneer in the development of neuroactive steroids known as pherines, including PH94B and PH10, as Vice President, Translational Medicine.
Announced publication in CNS Spectrums detailing proposed mechanism of action of investigational neuroactive nasal sprays, PH94B and PH10, for anxiety and depression disorders, respectively.
The Korea Intellectual Property Office (KIPO) in the Republic of Korea issued a Decision to Grant Patent Application No. 10-2015-7020176 related to methods of treating depressive disorder for PH10.
Financial Results for the Fiscal Quarter Ended December 31, 2020:
Net loss: Net loss attributable to common stockholders for the fiscal quarter ended December 31, 2020 decreased to approximately $5.65 million compared to $6.28 million for the fiscal quarter ended December 31, 2019. Net loss for the nine months ended December 31, 2020 and 2019 was approximately $11.7 million and $17.5 million, respectively.
Revenue: VistaGen recognized $313,600 in sublicense revenue pursuant to its PH94B development and commercialization agreement with EverInsight Therapeutics (now AffaMed Therapeutics) for the quarter ended December 31, 2020 compared to none in the quarter ended December 31, 2019. On June 24, 2020, VistaGen entered into the agreement with EverInsight Therapeutics, pursuant to which the Company received a non-dilutive upfront license fee payment of $5.0 million on August 3, 2020.
Research and development (R&D) expense: Research and development expense increased from $3.0 million to $3.5 million for the quarters ended December 31, 2019 and 2020, respectively. Cash compensation for the quarter ended December 31, 2020 increased by approximately $0.3 million and was offset by a similar decrease in noncash stock-based compensation for the same period compared to expenses in the quarter ended December 31, 2019. PH94B and PH10 development expenses increased by approximately $1.5 million in the quarter ended December 31, 2020 compared to expense for the quarter ended December 31, 2019 as drug substance and drug product manufacturing preceding clinical trials advanced. AV-101-related expenses decreased primarily due to the completion of the Company’s multi-center Phase 2 study of AV-101 for the adjunctive treatment of major depressive disorder in the quarter ended December 31, 2019.
General and administrative (G&A) expense: General and administrative expense decreased to approximately $2.1 million from approximately $2.9 million for the quarters ended December 31, 2020 and 2019, respectively. Cash compensation for the quarter ended December 31, 2020 increased by approximately $0.6 million and was offset by a similar decrease in noncash stock-based compensation for the same period compared to expenses in the quarter ended December 31, 2019. Further, in the quarter ended December 31, 2019, VistaGen completed certain modifications to outstanding warrants and recognized non-cash warrant modification expense of $826,900.
Cash Position: At December 31, 2020, the Company had cash and cash equivalents of approximately $104.3 million. The Company believes its current cash position is sufficient to advance an important stream of potential clinical and regulatory catalysts, including, among others: its Phase 3 development program for PH94B for the acute treatment of anxiety in adults with SAD and, upon successful Phase 3 development, submission of its New Drug Application to the U.S. Food and Drug Administration and potential U.S. market approval of PH94B; exploratory Phase 2 clinical development of PH94B in multiple additional anxiety-related disorders; Phase 2B clinical development of PH10 as a potential stand-alone treatment for major depressive disorder; and Phase 1B and potential exploratory Phase 2 clinical development of AV-101 in combination with probenecid for CNS disorders involving the NMDA (N-methyl-D-aspartate) receptor.
As of February 11, 2021, the Company had 141,694,413 shares of common stock outstanding.
About VistaGen
VistaGen Therapeutics is a biopharmaceutical company committed to developing and commercializing innovative medicines with the potential to go beyond the current standard of care for anxiety, depression, and other CNS disorders. Each of VistaGen’s three drug candidates has a differentiated potential mechanism of action, has been well-tolerated in all clinical studies to date and has therapeutic potential in multiple CNS markets. For more information, please visit www.vistagen.com and connect with VistaGen on Twitter, LinkedIn, and Facebook.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve known and unknown risks that are difficult to predict and include all matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “project,” “outlook,” “strategy,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “strive,” “goal,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Our actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties relating to delays in launching and/or conducting our planned clinical trials, including delays due to the impact of the COVID-19 pandemic; fluctuating costs of materials and other resources required to conduct our planned clinical and non-clinical trials; continued uncertainty with respect to the COVID-19 pandemic; market conditions; the impact of general economic, industry or political conditions in the United States or internationally; adverse healthcare reforms and changes of laws and regulations; manufacturing and marketing risks, including risks related to the COVID-19 pandemic, which may include, but are not limited to, unavailability of or delays in delivery of raw materials for manufacture of our CNS drug candidates and difficulty in initiating or conducting clinical trials; inadequate and/or untimely supply of one or more of our CNS drug candidates to meet demand; entry of competitive products; and other technical and unexpected hurdles in the development, manufacture and commercialization of our CNS drug candidates; and the risks more fully discussed in the section entitled “Risk Factors” in our most recent Annual Report on Form 10-K for the year ended March 31, 2020, and in our most recent Quarterly Report on Form 10-Q for the quarter ended December 31, 2020, as well as discussions of potential risks, uncertainties, and other important factors in our other filings with the U.S. Securities and Exchange Commission (SEC). Our SEC filings are available on the SEC’s website at www.sec.gov. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release and should not be relied upon as representing our views as of any subsequent date. We explicitly disclaim any obligation to update any forward-looking statements, other than as may be required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements.
VistaGen Company Contact
Mark McPartland
VistaGen Therapeutics
Phone: (650) 577-3606
Email: IR@vistagen.com
VISTAGEN THERAPEUTICS, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in dollars, except share amounts)
December 31,
March 31,
2020
2020
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$
104,331,100
$
1,355,100
Prepaid expenses and other current assets
547,500
225,100
Deferred contract acquisition costs – current portion
Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2020 and March 31, 2020:
Series A Preferred, 500,000 shares authorized, issued and outstanding at December 31, 2020 and March 31, 2020
500
500
Series B Preferred; 4,000,000 shares authorized at December 31, 2020 and March 31, 2020; 1,131,669 shares and 1,160,240 shares issued and outstanding at December 31, 2020 and March 31, 2020, respectively
1,100
1,200
Series C Preferred; 3,000,000 shares authorized at December 31, 2020 and March 31, 2020; 2,318,012 shares issued and outstanding at September 30, 2020 and March 31, 2020
2,300
2,300
Series D Preferred; 2,000,000 shares and no shares authorized, issued and outstanding at December 31, 2020 and March 31, 2020, respectively
2,000
–
Common stock, $0.001 par value; 175,000,000 shares authorized at December 31, 2020 and March 31, 2020; 138,800,137 and 49,348,707 shares issued and outstanding at December 31, 2020 and March 31, 2020, respectively
138,800
49,300
Additional paid-in capital
311,264,800
200,092,800
Treasury stock, at cost, 135,665 shares of common stock held at December 31, 2020 and March 31, 2020
(3,968,100
)
(3,968,100
)
Accumulated deficit
(213,630,700
)
(201,907,400
)
Total stockholders’ equity (deficit)
93,810,700
(5,729,400
)
Total liabilities and stockholders’ equity (deficit)
$
109,271,100
$
5,772,300
VISTAGEN THERAPEUTICS
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Amounts in Dollars, except share amounts)
(Unaudited)
Three Months Ended December 31,
Nine Months Ended December 31,
2020
2019
2020
2019
Sublicense revenue
$
313,600
$
–
$
647,600
$
–
Total revenues
313,600
–
647,600
–
Operating expenses:
Research and development
3,496,100
3,014,500
7,585,500
11,533,600
General and administrative
2,116,800
2,948,300
4,776,900
6,004,500
Total operating expenses
5,612,900
5,962,800
12,362,400
17,538,100
Loss from operations
(5,299,300
)
(5,962,800
)
(11,714,800
)
(17,538,100
)
Other income (expenses), net:
Interest income (expense), net
600
1,500
(6,500
)
33,400
Other income
–
–
600
–
Loss before income taxes
(5,298,700
)
(5,961,300
)
(11,720,700
)
(17,504,700
)
Income taxes
–
(200
)
(2,600
)
(2,600
)
Net loss and comprehensive loss
$
(5,298,700
)
$
(5,961,500
)
$
(11,723,300
)
$
(17,507,300
)
Accrued dividends on Series B Preferred stock
(353,600
)
(321,800
)
(1,036,600
)
(938,100
)
Net loss attributable to common stockholders
$
(5,652,300
)
$
(6,283,300
)
$
(12,759,900
)
$
(18,445,400
)
Basic and diluted net loss attributable to common stockholders per common share
$
(0.07
)
$
(0.15
)
$
(0.19
)
$
(0.43
)
Weighted average shares used in computing basic and diluted net loss attributable to common stockholders per common share
81,086,105
43,158,889
66,551,962
42,802,256
Thursday, February 11th, 2021UncategorizedComments Off on $VTGN Reports Fiscal 2021 Third Quarter Financial Results and Provides Update on Expected Clinical Studies in Calendar 2021
The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), a producer of premium bottled alkaline water, flavor-infused waters, and CBD-infused products, has announced an upcoming conference call. The Feb. 16, 2021 call is scheduled to start at 5 p.m. ET and will discuss financial results and business updated for fiscal third-quarter 2021. The call will be hosted by WTER president and CEO Richard Wright and chief financial officer David Guarino. The company noted that the teleconference will include investors and analysts. Following the call, the company will also release its financial results and business update; the same information will be posted on the company website before the call. Interested parties in the United States and Canada can call in for the call by dialing 877-407-3088; international callers can dial 201-389-0927. Callers are encouraged to dial in a few minutes before the call is scheduled to begin. The call will be recorded and will be available on Feb. 17.
Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88(R) delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label Clean Beverage. Quickly being recognized as a growing lifestyle brand, Alkaline88(R) launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused(TM) flavored water is available in seven unique all-natural flavors, with new flavors coming soon. Additionally, in 2020, the company launched A88 Infused Beverage Division Inc., which includes the company’s CBD water and flavor-infused water. For the company’s topical and ingestible offerings, A88 Infused Products includes both the company’s lab-tested, full-spectrum hemp salves, balms, lotions, essential oils and bath salts, along with broad-spectrum hemp beverage shots, powder packs, oil tinctures, capsules and gummies. To learn more about the company, please visit www.A88CBD.com and www.TheAlkalineWaterCo.com.
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SRAX (NASDAQ: SRAX), focused on unlocking data and insights through its software-as-a-service (“SaaS”) platform, Sequire, has experienced tremendous growth with this platform since launching it in early 2020. “Sequire now has more than 1 million investors and traders, with an estimated 91 publicly listed companies as subscribers.” The article detailing these developments continues, “The explosion in growth is driven by Sequire’s extensive range of services and as companies have increasingly sought to adopt digital technology and the data generated from such mediums as a way of improving their engagements with customers and stakeholders alike.”
SRAX is a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information about the company, visit www.SRAX.com and MySequire.com.
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Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, has announced its entry into definitive agreements with several institutional and accredited investors for the issuance and sale of an aggregate of approximately 4,222,288 shares of its common stock. The company expects gross proceeds of approximately $7.4 million, with each of the shares sold a purchase price of $1.75, in the registered direct offering priced at-the-market under Nasdaq rules. Predictive Oncology has also agreed to issue to the investors unregistered warrants to purchase up to an aggregate of approximately 2,111,114 shares of common stock. The closing of the offering is expected to occur on or about Feb. 16, 2021, subject to the satisfaction of customary conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
Predictive Oncology operates through three segments (Skyline, Helomics and Soluble Biotech), which contain four subsidiaries: Helomics, TumorGenesis, Skyline Medical and Soluble Biotech. Helomics applies artificial intelligence to its rich data gathered from patient tumors to both personalize cancer therapies for patients and drive the development of new targeted therapies in collaborations with pharmaceutical companies. TumorGenesis Inc. specializes in media that help cancer cells grow and retain their DNA/RNA and proteomic signatures, providing researchers with a tool to expand and study cancer cell types found in tumors of the blood and organ systems of all mammals, including humans. Skyline Medical markets its patented and FDA cleared STREAMWAY System, which automates the collection, measurement and disposal of waste fluid, including blood, irrigation fluid and others, within a medical facility, through both domestic and international divisions. Soluble Biotech is a provider of soluble and stable formulations for proteins including vaccines, antibodies, large and small proteins, and protein complexes. For more information, visit the company’s website at www.Predictive-Oncology.com.
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HempFusion Wellness (TSX: CBD.U) (OTCQX: CBDHF) (FWB: 8OO), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, has announced increase of its product offering to 48 SKUs by introducing its new and improved sleep and stress products with twice the amount of CBD per serving. “Global consumers are becoming increasingly familiar with CBD and its potential benefits to their daily routine,” said Jason Mitchell, N.D., HempFusion’s co-founder and chief executive officer. “After conducting months of extensive consumer research, it was clear that the majority of our customers and consumers in the market are seeking products with increased CBD percentages. It has always been HempFusion’s goal to provide new and innovative products that consumers are looking for. We are proud to launch our new and improved sleep and stress supporting products and are excited by the potential they bring to the CBD marketplace.”
In addition, HempFusion Wellness began trading today on OTCQX under the symbol “CBDHF.” “This important milestone opens the door for a broader range of U.S. investors and investment platforms to access our company,” Mitchell said in the update. “We are excited to begin trading on the OTCQX today and look forward to gaining DTC eligibility in the near future as well.”
HempFusion is a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition. HempFusion distributes its family of brands, including HempFusion, Probulin Probiotics, Biome Research, and HF Labs, to approximately 4,000 retail locations across all 50 states of the United States and select international locations. Built on a foundation of regulatory compliance and human safety, HempFusion’s diverse product portfolio comprises 46 SKUs including tinctures, proprietary FDA drug listed over-the-counter (“OTC”) topicals, doctor/practitioner lines and more. With a strong focus on research and development, HempFusion has an additional 30 products under development. HempFusion is a board member of the U.S. Hemp Roundtable, and HempFusion’s wholly-owned subsidiary, Probulin Probiotics, is one of the fastest-growing probiotics companies in the United States, according to SPINs reported data. HempFusion’s CBD products are based on a proprietary Whole Food Hemp Complex(TM) and are available in-store or by visiting HempFusion online at www.Hempfusion.com or www.Probulin.com.
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– Eligibility to receive Bonuses applies to all Vocal creators, subscribed to both the freemium and Vocal+ paid subscription tiers.
– Vocal’s latest monetization feature, Creator Bonuses, helps creators by providing an additional way to be rewarded for their creativity.
– Eligibility to receive Bonuses applies to all Vocal creators, subscribed to both the freemium and Vocal+ paid subscription tiers.
PR Newswire
FORT LEE, N.J. , Feb. 11, 2021 /PRNewswire/ — Creatd, Inc. (Nasdaq CM: CRTD) (“Creatd” or the “Company”), the parent company of Vocal, Vocal for Brands, Creatd Partners, and Seller’s Choice, today announced the rollout of Creator Bonuses, the latest of a suite of new features being released on the Vocal platform throughout 2021.
When the Vocal platform first launched in December of 2016, it offered creators a single means of monetization: Reads. This feature was followed by the introduction of Tips in 2018, which enabled creators to receive micropayments from their audience. In 2019, the Company began facilitating introductions between creators and brands like Vimeo and Daily Harvest through its Vocal for Brands offering. 2020 saw the launch of Vocal Challenges, giving creators the opportunity to participate and compete for cash prizes. Today, with the launch of Creator Bonuses, Vocal has given its creators yet another unique avenue to be rewarded for their creativity.
The Creator Bonus feature enables the Vocal team to add money directly to a creator’s existing Wallet balance. The Vocal team will reward creators with Bonuses to celebrate accomplishments such as reaching a ‘Reads’ milestone, winning a Challenge, or as a thank you to creators who support the Vocal community by liking, sharing, or sending tips to fellow creators. Bonuses are expected to help creators accrue more in total earnings, while enabling the Vocal team to give back to its creators more directly and efficiently.
Justin Maury , Creatd’s President and Head of Product, commented, “The growth of our platform is dependent on our ability to provide continued incentive for creators to call Vocal their home base. Bonuses provide the opportunity for us to show appreciation to creators that exemplify the Vocal ideology.”
Eligibility to receive Bonuses applies to the entire Vocal community, including both Vocal+ premium creators as well as the near 900,000 freemium creators. Maury’s full remarks regarding this new feature, including sample criteria for receiving Creator Bonuses, are available in his published Vocal story: https://vocal.media/resources/introducing-creator-bonuses-on-vocal .
Among the upcoming 2021 Vocal updates will be the addition of new Vocal communities which are expected to gain the attention of new creators and drive Creatd’s expansion into new audiences.
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD), the parent company of wholly-owned subsidiaries Vocal Ventures, LLC and Creatd Partners, LLC empowers creators, brands, and entrepreneurs through technology and partnership. Its flagship product, Vocal, is a best-in-class creator platform. For more information, please visit:
Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations 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. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.
Thursday, February 11th, 2021UncategorizedComments Off on $CRTD Vocal Platform Enhances Subscribers’ Earning Power with Introduction of Creator Bonuses
Clean Power Capital (CSE: MOVE) (FWB: 2K6) (OTC: MOTNF), an investment company, has released information about the technology being developed by its investee, PowerTap Hydrogen Fueling Corp. The information notes that PowerTap’s third-generation onsite hydrogen production module unit is enhanced for blue hydrogen classification via Advanced Carbon Capture; in addition, PowerTap uses renewable natural gas (“RNG”), which is also called biomethane or upgraded biogas, as its main feedstock to produce Blue Hydrogen. RNG is commonly found in landfills, animal manure, food scraps and wastewater sludge. Bacteria found in these “wet” wastes break down organic matter in a process called anaerobic digestion, resulting in the production of gases and solids including methane and carbon dioxide. This biogas can then go through a process that eliminates impurities, producing almost pure methane, which is then added into the country’s natural gas pipeline system. EPA has called this landfill gas an often-wasted energy resource. PowerTap’s patented, modular, onsite SMR production and dispensing system uses this RNG in the production of its Blue Hydrogen. PowerTap is planning to commercialize its Blue Hydrogen fueling solutions in key locations, with initial plans to start in the Western United States. “We look forward to being at the forefront of developing the Hydrogen Highway by providing a greener solution using renewable natural gas to support the refueling of vehicles and fleets across the U.S.,” said PowerTap chief operating officer Kelley Owen in the press release.
Clean Power is an investment company that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high-return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in its investments. For more information about the company, please visit www.CleanPower.Capital.
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at http://ibn.fm/MOTNF
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MustGrow (CSE: MGRO) (OTCQB: MGROF) (FRA: 0C0) is an innovative agriculture biotech company focused on providing natural biological protection for high value crops and other markets. Recently the company provided an update of its biopesticide product pipeline. The company — by extracting natural compounds from within the mustard seed — the mustard plant’s natural defense mechanism — has provided natural solutions to potentially replace widely used harmful synthetics that are being deregistered and banned. A recent article discussing this reads, “As part of the update, the company reported that a U.S. EPA registration already exists for its biopesticide product in granule format for use as a preplant soil treatment for high-value crops such as fruits and vegetables. The company is now working to obtain a new registration for its biopesticide in liquid format. As with the granular biopesticide, the liquid format is also made from food-grade mustard and has the same active ingredient: AITC. The new liquid biopesticide will be called TerraMG, and MustGrow is anticipating EPA approvals this year.”
MustGrow is a publicly traded agriculture biotech company focused on providing natural science-based biological solutions for high value crops, including fruits and vegetables. MustGrow has designed and owns a United States EPA-approved natural solution that uses the mustard seed’s natural defense mechanism to protect plants from pests and diseases. Over 110 independent tests have been completed, validating MustGrow’s safe and effective signature products. The product, in granule format, is EPA-approved across all key U.S. states and by Health Canada’s PMRA (Pest Management Regulatory Agency) as a bio-pesticide for high value crops such as in fruit and vegetables. MustGrow has now concentrated a liquid format, TerraMG, which, with regulatory approval, could be applied through standard drip or spray equipment, improving functionality and performance features. For more information, visit the company’s website at www.MustGrow.ca.
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TAAT(TM) (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) today announced that, in a world where re-invented consumer packaged goods (“CPG”) of perceived unhealthy or environmentally harmful products are all the rage, the company is attempting to forge its own niche. TAAT is introducing a hemp-based substitute that mimics the experience of a traditional tobacco cigarette in an attempt to steal market share from Big Tobacco, as well as grow sales organically. The company’s cigarettes are formulated using a house blend of CBD-containing hemp called Beyond Tobacco(TM). Hemp is blended with patented ingredients and refined to replicate the experience of a conventional tobacco cigarette-without the addictive effects of nicotine. The company engaged the representation of CROSSMARK Inc., a Tier-1 CPG agency that serves retail channels across North America and Canada. TAAT intends to leverage CROSSMARK’s existing relationships with over 100,000 convenience retailers to expand availability of its products in Ohio, as well as potentially across the United States. “One only has to look at the results CROSSMARK achieved in commercializing another tobacco brand across the United States to know that they have both the experience and know-how to launch a product to an audience of legal-aged smokers, which could assist the company in realizing its objectives for the TAAT(TM) product launch,” said TAAT CEO Setti Coscarella.
The company has developed TAAT(TM), which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original,” “Smooth” and “Menthol” varieties. TAAT(TM)’s base material is Beyond Tobacco(TM), a proprietary blend that undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT(TM) was launched first in the United States in Q4 2020 as the company seeks to position itself in the $814 billion* global tobacco industry. For more information, please visit www.TAATGlobal.com.
*British American Tobacco – The Global Market
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HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.
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Mohawk Group Holdings (NASDAQ: MWK) was featured in a recent episode of Gamechangers LIVE, a podcast series that shines a spotlight on individuals who are gamechangers in their fields and shares perspective on their journeys, mindsets, struggles and successes in an effort to inspire and inform listeners. Mohawk Group co-founder and CEO, Yaniv Sarig, joined the host of the broadcast, Sergio Tigera, to provide an overview of Mohawk, a consumer products company that leverages data and artificial intelligence to provide its customers with the products they want in an efficient manner. He also discussed the company’s vision, expounding on Mohawk’s business model and describing his personal game-changing moment. “Our vision is not an easy one. We’re trying to disrupt an entire industry. We’re basically trying to reinvent the way consumer companies operate online,” Sarig said. “We believe there’s an opportunity to rebuild the traditional consumer company with a mix of technology and national supply chain. That’s a big vision and sometimes you might find yourself saying, ‘Maybe we should have gone for something a little less ambitious.’ As an entrepreneur with a big dream, nothing really prepares you for all the challenges.”
Mohawk Group Holdings, together with its subsidiaries (“Mohawk”), is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon and Walmart. In addition to Healing Solutions, Mohawk has eleven owned and operated brands and sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics. For more information, visit www.ir.Mohawkgp.com.
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Shares of iClick Interactive Asia Group Limited (NASDAQ:ICLK) traded today at $19.06, eclipsing its 52-week high. This new high was reached on below average trading volume as 368,000 shares traded hands, while the average 30-day volume is approximately 2.4 million shares.
iClick Interactive Asia Group Ltd is an independent online marketing and enterprise data solutions provider in China. It serves as an integrated cross-channel gateway that provides marketers with innovative and cost-effective ways to optimize their online marketing efforts throughout their marketing cycle and achieve their branding and performance-based marketing goals. It has two operating segments: Marketing Solutions, and Enterprise Solutions. Geographically, it derives majority revenue from PRC and also has a presence in Hong Kong and other countries.
In the past 52 weeks, shares of iClick Interactive Asia Group Limited have traded between a low of $3.54 and a high of $19.06 and is now at $16.91, which is 378% above that low price.
iClick Interactive Asia Group Limited (NASDAQ:ICLK) defies analysts with a current price ($16.91) 8.5% above its average consensus price target of $15.48.
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Thursday, February 11th, 2021UncategorizedComments Off on $ICLK Exceed 52-Week High
Energy Fuels (NYSE American: UUUU) (TSX: EFR), the country’s largest producer of uranium, which also expects to become a producer of an intermediate rare earth element (“REE”) product in early 2021, is poised as the new Joe Biden White House agenda “rests on a foundation provided by the nation’s nearly 600,000 miners — miners and a mining industry ready to do their parts to help drive America’s post-pandemic recovery.” According to a recent NWITimes article, Biden’s website states: “We’ve seen the importance of bringing home critical supply chains so that we aren’t dependent on other countries in future crises.” A recent article discussing the company reads, “Energy Fuels is committed to playing a key role in that era. In 2018, the U.S. government identified 35 minerals as being critical to the country’s national security and economy, including rare earths, uranium and vanadium, which the company produces. “For 31 of these 35 minerals, the U.S. imports more than half of our requirements,” observed Energy Fuels president and CEO Mark S. Chalmers. “And, for 14 of these 35 minerals, the U.S. is effectively 100% dependent on imports. These minerals are needed for aerospace, computers, cell phones, electrical generation and transmission, renewable energy systems and batteries, and advanced electronics. This is an unacceptable situation for a superpower like the United States. Energy Fuels stands ready to do our part in bringing uranium, vanadium and rare earth element processing and production back to the United States. We have led uranium industry efforts in Washington DC over the past three years to bring the issue of mineral supply chain security to the forefront.”
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant, and anticipates commencing commercial production of rare earth element (“REE”) carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, has the ability to produce vanadium when market conditions warrant and is completing final test-work for the production of REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” For more information, visit the company’s website at www.EnergyFuels.com.
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Cybin (NEO: CYBN) (OTC: CLXPF), a life sciences company focused on psychedelic pharmaceutical therapies, has scheduled a conference call and webcast for 10 a.m. ET on Wednesday, Feb. 17, 2021. Cybin CEO Doug Drysdale will conduct the call and webcast. The agenda for the call includes a review of the company’s financial results as well as a business update. Those who are interested in participating in the call may dial in using the following numbers: (877) 407-0789 for callers inside the United States and (201) 689-8562 for international callers. The conference ID is 13716476. After the call and webcast are completed, interested parties can call to hear the replay, which will be available for two weeks. The replay can be accessed by dialing (844) 512-2921 in the United States or (412) 317-6671 internationally; the conference ID for the replay is 13716476. A replay of the webcast will be available on the company website for 30 days following the event.
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. For more information, visit the company’s website at www.Cybin.com.
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XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), a bioscience accelerator at the leading-edge of the life science industry, is involved in preclinical laboratory work designed to study a variety of psychotropic compounds, including psilocybin, mescaline, LSD, MDMA and DMT. The company also announced that its subsidiary, XPhyto Laboratories Inc., has added the production of mescaline to its psychedelic medicine programs. These psychedelic compounds show promising potential in treating mental conditions because they are known to modulate neurotransmitters such as serotonin and dopamine, which regulate cognition, perception and mood in individuals. Called a leader in innovating psychedelic drugs in a recent article, XPhyto is focused on helping individuals who suffer from mental health disorders, including the 11% of Americans that the U.S. Center for Disease Control (“CDC”) reports have contemplated suicide since the outbreak of the COVID-19 pandemic. The number is similar in the UK. A growing number of studies indicate that psychedelic drugs can be effective in treating chronic and serious forms of depression that typically do not respond to existing treatments. Psychedelics are also being studied for the treatment of drug and alcohol addictions as well as post-traumatic stress disorder (“PTSD”). Raimar Löbenberg, a director at XPhyto Therapeutics, is one of a limited few medical scientists in North America who has gained the necessary government-level clearance to experiment in a university laboratory setting with highly regulated Schedule 1 drugs; psychedelics currently fall into this category. Regarding XPhyto Labs, the addition of mescaline to its medicine programs comes as the substance has shown potential as a treatment for addiction and depression. A Schedule I drug, mescaline is used with traditional Native American religious rituals and ceremonies and its becoming increasingly popular as a supplement to meditation and psychedelic therapy. “Our initial focus is to develop standardised drug formulations with precise, predictable and efficient delivery of their active pharmaceutical ingredients for clinical study and therapeutic use,” said XPhyto director Raimar Löbenberg in the article. “We see a lot of potential therapeutic value in psychedelic compounds for their ability to positively influence neural networks through growth and reorganisation.”
XPhyto Therapeutics is a bioscience accelerator focused on next-generation drug delivery, diagnostic and new active pharmaceutical ingredient investment opportunities including precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral-health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. XPhyto has research and development operations in North America and Europe, with an operational focus in Germany, and the company is currently focused on regulatory approval and commercialization of medical products for European markets. For more information about this company, please visit www.XPhyto.com
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PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.
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Wednesday, February 10th, 2021UncategorizedComments Off on $XPHYF Studying Potential for Psychedelics in Treatment of Mental Health Conditions, Announces Addition of Mescaline to Subsidiary Medicine Programs
VistaGen Therapeutics (NASDAQ: VTGN), a biopharmaceutical company developing new-generation medicines with the potential to go beyond the current standard of care for anxiety, depression and other central nervous system (“CNS”) disorders, has announced plans to begin a Phase 3 clinical trial in Q2 2021. The clinical trial will evaluate PH94B (“PH94B”), a neuroactive nasal spray designed to provide rapid onset of action for the acute treatment of anxiety in adults with social anxiety disorder (“SAD”). With an estimated 20 million people in the United States suffering from SAD, it is one of the most prevalent mental health conditions in the country. VistaGen also has second neuroactive nasal spray in development; PH10 (“PH10”) is designed for potential rapid onset treatment of major depressive disorder (“MDD”) and other depressive disorder. Currently no FDA-approved, fast-acting, as-needed treatment for SAD exists. FDA-approved antidepressants and off-label use of benzodiazepines are often prescribed for the disorder, and they have potential for significant side effects. “We are committed to developing and commercializing new-generation medicines that go beyond the current standard of care for anxiety, depression and other CNS disorders,” said VistaGen CEO Shawn Singh in a recent article. “The COVID-19 pandemic is causing a mental health crisis the likes of which we have never seen before, with alarming increases in anxiety, stress, depression and suicide. . . . Stress-provoking episodes are soaring, especially as routines are being disrupted, and we’ve seen skyrocketing prescriptions of benzodiazepines, which carry with them the potential for misuse, abuse and addiction, even when taken at recommended dosages.”
VistaGen is a clinical-stage biopharmaceutical company committed to developing and commercializing innovative medicines with the potential to go beyond the current standard of care for anxiety, depression and other CNS disorders. Each of VistaGen’s three drug candidates has a differentiated potential mechanism of action, has been well tolerated in all clinical studies to date and has therapeutic potential in multiple CNS markets. For more information about the company, please visit www.VistaGen.com.
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TAAT(TM) (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) today announced that its flagship product TAAT(TM) is now being manufactured at a rate of more than 57,000 ten-pack cartons per month (over 690,000 cartons per year). According to the update, this represents a 233% increase from a production rate of 12 pallets per month to 40 pallets per month as of this week. The increase was prompted by sustained demand for TAAT(TM) in Ohio, as well as anticipated demand from smokers aged 21 and over in other U.S. states who will be able to purchase the product online directly from the company upon launch of its e-commerce portal this quarter. “Now that we are in the ‘execution’ phase on our roadmap to gaining penetration in the US$814 billion global tobacco industry, manufacturing our product has become even more crucial to our success, so that we can satisfy our proven demand with a consistent supply,” said TAAT(TM) Chief Executive Officer Setti Coscarella. “As we continue to place TAAT(TM) with tobacco retailers in Ohio, and as we prepare to launch the TAAT(TM) e-commerce portal this quarter, we have taken proactive steps to ensure a strong supply of TAAT(TM) is always on hand to fill orders, with more in the pipeline. More importantly, this has provided us the opportunity to begin forming standard operating procedures for scaling our manufacturing resources even further, which I believe could prove valuable in the near future.”
The company has developed TAAT(TM), which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in “Original,” “Smooth” and “Menthol” varieties. TAAT(TM)’s base material is Beyond Tobacco(TM), a proprietary blend that undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with “Big Tobacco” pedigree, TAAT(TM) was launched first in the United States in Q4 2020 as the company seeks to position itself in the $814 billion* global tobacco industry. For more information, please visit www.TAATGlobal.com.
*British American Tobacco – The Global Market
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Definitive agreements with institutional, accredited investors call for issuance and sale of more than 3.5 million shares of common stock
POAI currently focused on applying AI to develop personalized medical treatments, novel lab media and improved vaccines
One of POAI’s highest priorities is building multi-omic predictive models of tumor drug response and outcome
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, has entered into definitive agreements with several investors for the sale of common stock (https://ibn.fm/YcBGM). The agreements with several institutional and accredited investors call for the issuance and sale of 3,650,840 shares of common stock; the stock will be sold at a purchase price of $0.842 per share, resulting in gross proceeds of approximately $3 million for POAI.
The announcement noted that the sale was a registered direct offering priced at-the-market under Nasdaq rules. As part of the agreements, POAI will also issue unregistered warrants to the investors for the purchase of up to 1,825,420 shares of common stock. The offering is expected to close on or about Jan. 12, 2021 and is subject to customary closing conditions. Predictive Oncology plans to use the proceeds from the offering for working capital purposes.
POAI is currently focused on applying AI to develop improved vaccines, personalized medical treatments, and lab media that replicates the body. The company intends to do this by leveraging the invaluable expertise, information and technology available from its subsidiaries Helomics, TumorGenesis and Soluble.
One of POAI’s highest priorities is building multi-omic predictive models of tumor drug response and outcome. The company accomplishes this by using Helomics proprietary TumorSpace knowledge base of 150,000 tumor drug response profiles gathered from more than 15 years of clinical testing. Helomics’ database, the largest of its kind in the world, includes information gathered from ovarian, colon, pancreas, and head and neck tumors. The company’s CLIA-certified lab conducts testing and provides information designed to support oncologists in pinpointing personalized patient-treatment options.
POAI’s wholly owned TumorGenesis subsidiary specializes in the field of ovarian cancer, developing tools (kits, reagents and specialty cell-culture media) to grow tumors and cancer cells in a manner that mimics the patient’s own body. TumorGenesis’ proprietary Oncology Capture Technology Platform isolates and cultures the patient’s heterogenous tumor sample, providing a much better model of the tumor outside the body (ex vivo). These improved ex-vivo tumor models can then be used by researchers to investigate cancer and by clinicians to develop patient-specific treatment plans.
POAI is bringing precision medicine, or tailored medical treatment using the individual characteristics of each patient, to the treatment of cancer. Through its Helomics division, the company leverages its unique, clinically validated patient derived (“PDx”) smart tumor profiling platform to provide oncologists with a roadmap to help individualize therapy. In addition, the company is leveraging artificial intelligence and its proprietary database of over 150,000 cancer cases tumors to build AI-driven models of tumor drug response to improve outcomes for the patients of today and tomorrow.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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PlantX Life Inc. (CSE: VEGA) (OTCQB: PLTXF) (Frankfurt: WNT1) today announced record monthly gross revenue of $1,089,502 for January 2021. According to the update, January 2021’s revenue increased as compared to results for the month of December 2020 and during the highly dynamic holiday season, when the company achieved gross revenue of $1,029,883. January revenue exceeded management’s expectations given that e-commerce sales were expected to be slower following the holiday season. This success during one of the slowest e-commerce periods of the year highlights the tremendous impact PlantX continues to have in the plant-based marketplace. “It is truly encouraging to achieve yet another incredible revenue milestone and to start the new year with such vigor and success,” said PlantX CEO Julia Frank. “There are many other colourful growth opportunities on the horizon, and we’re confident that our financial trajectory will reflect the remarkable and increasing value our company brings to the plant-based industry.”
As the digital face of the plant-based community, PlantX’s platform is the one-stop shop for everything plant-based. With its fast-growing category verticals, the company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the company currently has plans underway to expand its product lines to include cosmetics, clothing and its own water brand — but the business is not limited to an e-commerce platform. The company uses its digital platform to build a community of like-minded consumers and, most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands. The company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life. For more information, visit the company’s website at www.Investor.PlantX.com.
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Mohawk Group Holdings Inc. (NASDAQ: MWK) Is ‘One to Watch’
The Mohawk Group Holdings Inc. management team offers deep industry experience with backgrounds in high profile industry names and title roles
Mohawk’s proprietary AIMEE(R) drives new product development and automates sales and marketing while managing product lifecycle
Mohawk’s business model leverages AIMEE(R) to offer a faster go-to-market strategy (6 to 8 months) than more traditional business models, which could take up to two years before marketing begins
Mohawk’s strong annual revenue growth shows profitability while serving the massive and rapidly expanding e-commerce and direct-to-consumer (“D2C”) markets
Mohawk is where CPG, e-commerce and technology intersect in the industry, proving a more favorable outcome through consumer product focus
Mohawk Group Holdings (NASDAQ: MWK) is a leading tech-enabled consumer products platform that uses machine learning, natural language processing and data analytics to design, develop, market, and sell products. The company’s proprietary AIMEE(R) platform leverages data and AI to automate the design, development and launch of best-selling consumer products.
Mohawk owns and operates 12 brands and sells consumer products in multiple categories ranging from kitchenware and home appliances to environmental appliances, beauty products and even consumer electronics.
Founded in 2014, Mohawk has offices in the United States, Canada, China and the Philippines. The company is always working to capitalize on the strength of the different cities and time zones in which it operates to ensure continued excellence around the world and achieve its goal of becoming the most consumer-centric product company.
AIMEE(R) Platform
AIMEE(R) (AI Mohawk E-commerce Engine) is Mohawk’s proprietary platform that leverages data and AI to:
Identify new market opportunities;
Launch new products;
Automate marketing variables; and
Analyze and optimize company-owned and operated consumer product brands.
The platform’s core functionalities include:
Research:Automated research using live market data that tracks exposure and product trends, allowing for the swift discovery of new market and product opportunities;
Financials:Places data insights in one place, enabling execution across multiple channels to track new product planning, financial projections, inventory levels, media buying and more;
Trading:The result of an algorithmic solution that has been optimized for live decisions to scale sales and built to implement automated marketing strategies with learning through experimentation; and
Logistics:Manages logistics to enable faster delivery of products to consumers.
Mohawk’s Business Model
Mohawk’s unique business model is designed to drastically shorten go-to-market time, decreasing the typical 18- to 24-month process to just 6- to 8-months. Using AIMEE(R), Mohawk leverages real-time data-driven opportunities and trend tracking to replace the idea focus group research and development of the standard model.
Marketing time is also reduced between the two models using the AIMEE(R) Trading Engine for data-driven automated marketing and product lifetime management. Through the AIMEE(R) trading engine, the traditional 3-month marketing for a standard go-to-market model is cut to a fraction of the time.
The AIMEE(R) Fulfillment Engine allows for dynamic inventory allocation, fulfillment selection, cost optimization, a third-party logistics network and a 2-day shipping period across almost all of the United States. The standard business model doesn’t support direct distribution or an FBA (fulfilled by Amazon) structure.
Opportunities for Growth and Profitability
Mohawk’s plan to drive growth and profitability in the market includes:
The continued optimization of product economics by lowering manufacturing and logistical costs through an increase in purchasing power
The pursuit of higher-value products with larger target markets
Opportunistically adding new products and categories through acquisitions
Expansion into the international and new domestic e-commerce marketplaces
Monetization of its proprietary AIMEE(R) platform by providing access to third-party brands
Mohawk’s long-term goal is to increase its profit margin from 14% in 2020 to 18-20%, using higher average selling prices and lower fulfillment costs as primary drivers. Due to its technology and platform effect, Mohawk’s corporate overhead is expected to increase at a slower pace than sales. Its fixed operating costs long-term target goal is 5%, which follows the current trend (2019 – 19%, 2020 – 13%). It aims for an adjusted EBITDA of 13-15%.
Management Team
Yaniv Sarig has been Mohawk’s President and Chief Executive Officer since September 2018. He is also a co-founder of Mohawk Group Inc. Mr. Sarig has served as the President and Chief Executive Officer of Mohawk Group Inc. since June 2014. Before his role at Mohawk, he led the Financial Services Engineering department at Coverity, a software startup providing code and security solutions to top financial institutions and hedge funds in New York to include the New York Stock Exchange, Nasdaq, JPMorgan Chase and Barclays. Before his Coverity role, Mr. Sarig held lead technical roles at Bloomberg and EPIQ Systems Inc. (NASDAQ: EPIQ). He holds a Bachelor of Science from Touro College. He is fluent in English, French, Hebrew and C++.
Fabrice Hamaide has been the Chief Financial Officer of Mohawk since September 2018. He has also retained the position of Chief Financial Officer for Mohawk Group Inc. since July 2017. Before Mohawk, Mr. Hamaide held numerous financial, CFO and presidential roles in various technological and consumer product companies across Europe and the United States, including Piksel Inc., Atari, Parrot and Logitech. Mr. Hamaide holds an impressive set of credentials, including an MBA from Columbia Business School, an MS in Information Systems Design from Sorbonne University, and a BS in Applied Mathematics from Jussieu University.
Mihal Chaouat-Fix has been the Chief Product Officer for Mohawk since September 2018. Prior to taking this role within the company, she was the Chief Operating Officer, handling the day-to-day leadership and operational management of Mohawk. Before joining Mohawk, Ms. Chaouat-Fix worked in various roles at Gottex Models Ltd. At this international fashion swimwear firm, her focus on marketing, operations and manufacturing saw supply chain and distribution of 12 million units per year to over 40 countries worldwide.
Tomer Pascal has been the Chief Revenue Officer for Mohawk since 2018. He has also served as the Chief Revenue Officer for Mohawk Group Inc. since 2017. Before he joined the Mohawk team, he was the Chief Executive Officer and co-founder of OMG Studios. Throughout his career, Mr. Pascal has held many different co-founder and general management roles, focusing on companies’ marketing and revenue growth in the media and technology industries.
Roi Zahut has held the role of Chief Technology Officer for Mohawk since 2019. Before Mohawk, he served in numerous roles, including CTO of the Advanced Analytics global consulting team at IBM and architect of IBM Metropulse. While in Israel, Mr. Zahut held several senior technical, business and data science roles in startups and consulting to include IBM Israel, Brainbow Ltd. and Matrix IT Ltd. He holds an MSc in Neuroscience with distinction from Bar Ilan University.
For more information, visit the company’s website at www.Mohawkgp.com.
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LexaGene Holdings (TSXV: LXG) (OTCQB: LXXGF), a molecular diagnostics company that develops fully automated rapid pathogen detection systems, today announced that it has successfully configured a MiQLab(TM) system to detect mutant sequences unique to the United Kingdom (“UK, B.1.1.7”) 1 and South African (“SA, B.1.351”) 2 variants of SARS-CoV-2, the pathogen that causes COVID-19. “Just three weeks ago, we designed assays to detect the UK and SA variants to demonstrate proof-of-principle that these assays could be quickly ported onto the MiQLab,” said Dr. Jack Regan, LexaGene’s CEO and founder. “After just two full work days of having these reagents in-house, we verified our MiQLab could detect mutations associated with these variants. With proper FDA approvals, these tests could quickly be sent to MiQLabs operating at the point-of-care for faster detection, which would likely improve containment efforts for the spread of these new variants.”
LexaGene is a molecular diagnostics company that develops molecular diagnostic systems for pathogen detection and genetic testing for other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing and biodefense. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, enter sample ID and press “go.” The MiQLab(TM) system delivers excellent sensitivity, specificity, and breadth of detection and can return results in approximately one hour. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest. For more information, visit the company’s website at www.LexaGene.com.
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Shares of Foresight Autonomous Holdings Ltd. (NASDAQ:FRSX) traded at a new 52-week high today of $12.13. This new high was reached on below average trading volume as 12.8 million shares traded hands, while the average 30-day volume is approximately 19.7 million shares.
Foresight Autonomous Holdings Ltd is a technology company engaged in the design, development and commercialization of vision systems for the automotive industry. The company develops both in-line-of-sight vision systems and beyond-line-of-sight cellular-based applications through its wholly owned subsidiaries. Its systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. Foresight is pursuing several markets and believes its advanced systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform.
Foresight Autonomous Holdings Ltd. (NASDAQ:FRSX) is currently priced 0.5% above its average consensus analyst price target of $11.08.
In the past 52 weeks, shares of Foresight Autonomous Holdings Ltd. have traded between a low of $0.46 and a high of $12.13 and is now at $11.13, which is 2,314% above that low price.
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Wednesday, February 10th, 2021UncategorizedComments Off on $FRSX Rise to a New 52-Week High
Canopy Rivers (TSX: RIV) (OTC: CNPOF), an investment and acquisition company specializing in cannabis, has shared financial numbers for its most recent period, the three and nine months ended Dec. 31, 2020. The announcement included both unaudited condensed interim consolidated financial statements and management’s discussion and analysis (“MD&A”). Numbers in the report indicate that Canopy Rivers’ comprehensive income was $82.2 million, which the company notes was driven by an increase in the value of its investment in TerrAscend. The company also announced a “transformative and accretive” transaction with Canopy Growth; the transaction is scheduled to close by the end of February 2021. The announcement noted that Canopy Rivers expects to be in a strong financial and strategic position to pivot to the U.S. market after the close of the Canopy Growth transaction. “Our quarter was highlighted by the announcement of our milestone transaction with Canopy Growth, which we believe will provide substantial value to our shareholders,” said Canopy Rivers president and CEO Narbé Alexandrian in the press release. “Our portfolio companies continue to gain momentum, and we are further encouraged by the potential for regulatory reform in the U.S. given recent progress at the state level and the new administration’s position on cannabis reform. We believe that we will have the opportunity to enter the U.S. market at an ideal point in time, and that our balance sheet, simplified share structure, strategic flexibility, and deep domain expertise will enable us to deliver value to shareholders as we consider potential material investments or acquisitions in the U.S.”
Canopy Riversis an investment and acquisition company specializing in cannabis with a portfolio of 17 companies across various segments of the cannabis value chain. The company believes that bringing together people, capital and ideas raises the potential of the entire cannabis industry. By leveraging its unique industry insights, in-house expertise and thesis-driven approach to investing, Canopy Rivers aims to provide shareholders with exposure to specialized and disruptive cannabis companies. For more information about the company, visit www.CanopyRivers.com.
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