HC Wainright & Co is repeating a Buy rating on CleanSpark Inc (OCTMKTS:CLSKD) based on the company’s fiscal year 2019 in-line results and a positive growth outlook for 2020. Analysts Amit Dayal and Sameer Joshi, who raised significantly their price to $18 a share from $4, also noted the company’s recent one-for-ten (1:10) reverse stock split, which was undertaken to help it comply with the Nasdaq’s minimum bid-price requirements as it seeks to up-list. The analysts see revenues increasing from $13.7 million in FY2020 to $128.6 million in FY2025, growing at a five-year CAGR (compound annual growth rate) of 56.5%.
KinerjaPay Corp (OTCMKTS:KPAY) revealed Friday that the country's financial services authority, known as the Otoritas Jasa Keuangan (OJK) granted its newly formed Indonesian subsidiary, PT Kinerja Sukses Gemilang, a full permit to operate as a microloan-lending platform. "We are honored to have passed the certification tests and are excited to offer this lending platform to Indonesian individuals and institutions. Our company will be an active member of the platform, lending to individuals with verified employment and small businesses,” said CEO Edwin Ng in a statement. Ng added that Jakarta-based KinerjaPay’s access to the US lending institutions is a "big advantage."
Nemaura Medical Inc (NASDAQ:NMRD) believes it has reached its strongest position so far, given its cash position, credit line, expected revenues, and the significant potential value of its diabetes-focused offerings. In a year-end update, the Loughborough, UK-based medtech group said 2019 had been "transformative" as it achieved a number of major milestones. The group is behind sugarBEAT, a daily disposable adhesive skin-patch connected to a rechargeable transmitter, with an app displaying glucose readings every five minutes which acts as a continuous glucose monitor (CGM), and BEATdiabetes, a health subscription service. Both target the underserved US$69 billion market for Type 2 diabetics and US$50 billion market for pre-diabetics.
NexTech AR Solutions Corp (OTCMKTS:NEXCF) (CSE:NTAR), the tech group, has taken another big business leap, saying its augmented reality (3D/AR) solution for eCommerce can now be integrated into the giant Facebook Messenger system. The move brings the firm even deeper into the eCommerce marketplace and will mean many more customer wins, the firm told investors in a statement.
Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) shares amounting to roughly three million were sold Thursday by the Legacy Eight Group Ltd, which specializes in identifying online gaming opportunities. In a statement, Legacy Eight said it disposed of ownership of an aggregate of three million shares of Bragg Gaming by way of a private agreement, which closed on Thursday at $0.25 cents per share to net $750,000.
LeanLife Health Inc (CSE:LLP), the Omega-3 product-focused firm, told investors it had sold some equipment it bought last year, that was surplus to requirements. The production gear was bought in spring, 2018 but after the phase 1 production agreement inked with Ecovatec Solutions earlier this month, which provides access to its manufacturing facility, the equipment is no longer needed and was sold to a local company.
Arcadia Biosciences Inc (NASDAQ:RKDA) announced Friday a limited release of its GoodWheat Reduced Gluten Wheat Flour. Developed for those with sensitive stomachs, the flour contains 65% less allergenic gluten than traditional flour and is higher in fiber, according to a statement.
Avalon GloboCare Corp (NASDAQ:AVCO), the cell therapy-focused firm, announced today a strategic partnership with China (Nanjing) Cell Valley (CNCV) - one of the largest biotech zone initiatives in China. The aim of the tie-up is to cultivate translational research and technological advances in the CellTech industry in China and globally, Avalon said in Friday's statement.
CleanSpark Inc (OTCMKTS:CLSK) said Friday it had received nearly $360,000 in new orders for its Intelligent switchgear in the last week.
Salt Lake City-based CleanSpark said that two customers ordered seven units of the switchgear, which is used to provide uninterrupted power from a backup source.
Three of the units are for a new customer, while the remaining four units relate to a current customer, ClearSpark told investors.
Maverix Metals Inc. (NYSEAMERICAN:MMX) (TSX:MMX) announced that it has completed the previously announced acquisition of a portfolio of over 20 precious metals royalties from Kinross Gold Corporation. As consideration for the transaction, Maverix has issued 11.2 million common shares and made a cash payment of US$25 million to Kinross. The company used existing cash on hand and its revolving credit facility to fund the US$25 million cash payment.
Ascent Industries Corp (CSE:ASNT) (OCTMKSTS) announced Friday that the company and certain of its affiliates obtained an order of the Supreme Court of British Columbia sanctioning and approving the company’s first amended and restated consolidated plan of compromise, arrangement and organization under the Companies’ Creditors Arrangement Act at a hearing held on December 19. The court’s sanction and approval of the plan represents a key step towards the company’s implementation of the plan. Ascent Industries in is now diligently working towards satisfying the remaining conditions to the plan. The company currently anticipates that the plan will be implemented on or prior to December 30.
mCloud Technologies Corp. (CVE:MCLD (OTCMKTS:MCLDD), a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence and analytics, announced that its private placement of special warrants, originally announced on December 17, 2019, has been fully subscribed, having received commitments from investors for more than C$10,000,000. The group said the final allocation of the offering is subject to the receipt of binding subscription agreements from potential subscribers and the offering is scheduled to close on or about January 14, 2020.
Thor Explorations Ltd (CVE:THX) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement, announced on August 19, 2019, which saw 78,669,250 shares placed at a price of 20 cents per share with 11 placees.