Author: Mahrukh Rehan

Puxin Limited (NEW) stock has inclined to 36.68% in the premarket today. However, the last trading session concluded at $0.4536 with a decline of 23.76%.

NEW Announces Receipt of NYSE Non-compliance Notice Regarding ADS Trading Price

On 19^th August 2021, NEW has received a notification from the New York Stock Exchange. NYSE has alerted it that it has fallen short of compliance requirements in connection with the performance of its American depositary shares trading price. Furthermore, a business shall be regarded out of compliance with Section 802.01C of the NYSE’s Listed Company Manual. Last but not least, the business must raise its share price and average share price over US$1.00.

First Quarter 2021 Financial Results

NEW reported first quarter 2021 financial results on 24^th May 2021. According to the report:

• Total profits fell 8.6% to RMB686.8 million (US$104.8 million) in the first quarter of 2020.
• Operating income increased by 78.9% in the first quarter of 2020.
• Moreover, NEW had a net income of RMB37.8 million (US$5.8 million) in the first quarter of 2020, compared to a net loss of RMB43.5 million.
• Puxin Limited’s revised net income was RMB9.6 million (US$1.5 million), down 62.1 percent from the first quarter’s adjusted net income of RMB25.4 million.
• Relative to RMB65.0 million in the first quarter of 2020, adjusted EBITDA was RMB46.1 million (US$7.0 million).
• In the first quarter of 2020, student enrolment fell by 7.1% to 539,355 from 580,661.

NEW Stock Announces US$20 Million Share Repurchase Program

On 31^st March 2021, NEW stated that its board of directors has authorized a share buyback program to buy up to US$20 million worth of its American depository shares. This will represent ordinary shares, in one or more transactions over the 12-month period ending March 31, 2022. NEW may acquire its ADSs through a variety of methods under the Share Repurchase Program.

Moreover, it may include open market transactions, privately negotiated payments or any other legally authorised method. Rule 10b5-1 and Rule 10b-18 permit the Company to conduct buyback transactions. Lastly, the quantity of ADSs repurchased and when they are repurchased will be determined by a variety of criteria.

Aditxt, Inc. (ADTX) experiences an increase of 4.97% in the premarket today. However, the last trading session closed at $1.81 with an incline of 1.69%.

AiPharma Signs Binding Agreement

ADTX announced on 5^th October 2021 that it has reached a deal with Aditxt Inc. to sell all of its assets through the sale of one of its fully owned group subsidiaries. Aditxt is a biotech startup whose goal is to boost immune system wellness. AiPharma is a biopharmaceutical firm with exclusive worldwide rights to Avigan/Reeqonus/Qifenda and all formulations of favipiravir.

The binding agreement comes after ADTX announced its intention to buy AiPharma on August 25, 2021. And ADTX funded a bridging loan to AiPharma, a crucial term toward the acquisition’s completion, subject to certain closing conditions. Aditxt will create a new business division focusing on the prevention, treatment, and monitoring of infectious illnesses.

 ADTX Signs a Transaction Agreement to Acquire AiPharma

On 5^th October 2021, ADTX announced that it has managed to enter into a transaction agreement with AiPharma Global Holdings. AiPharma Global is a company focused on discovering, developing, and commercialising antiviral therapies. AiPharma Global is a biopharmaceutical firm that has exclusive rights to Avigan/Reeqonus/Qifenda and all formulations of favipiravir, a broad range oral antiviral medication that targets COVID-19 and other infectious illnesses, either directly or through its affiliates globally (except Japan).

The merger follows Aditxt’s previous statement that it would purchase the firm, as well as Aditxt’s financing of a $6.5 million bridging loan to AiPharma Global. If the deal goes through, ADTX will have a new business sector dedicated to the monitoring and treatment of infectious illnesses. The agreement includes an increase of $8.5 million in the number of permitted borrowings under the personal loan from Aditxt to AiPharma Global, resulting in complete accessibility of $15 million, as well as ADTX authorising a number of shares of common stock that generates 65 percent of ADTX’s outstanding shares determined as of September 30, 2021, to be approved only upon ending of the transaction.

New Appointments in ADTX company

ADTX announced about the new appointments in the company on 27^th September 2021. Corinne Pankovcin, Aditxt’s CFO, is the new President and therefore will work very closely with Amro Albanna, the company’s CEO. Thomas J. Farley, who previously served as Aditxt’s Controller and Principal Accounting Officer, is the new CFO.

Ms. Pankovcin, in collaboration with the ADTX’s CEO and senior team, has successfully managed the Company’s development since it went public on Nasdaq. She formerly worked as the CFO and Treasurer of companies such as Business Development Corporation of America. Moreover, Mr. Farley worked closely with Ms. Pankovcin on all areas of public company administration and SEC reporting while serving as Controller. Lastly, Mr. Farley served as Senior Controller and Treasurer of Business Development Corporation of America.

OneSmart International Education Group Limited (ONE) stock experiences a sudden decrease of 40.13% in the premarket after the company announces Approval of Business Suspension and Resignation of Independent Directors. However, the last trading session closed at $0.4002 with an increase of 4.49%.

Approval of Business Suspension and Resignation of Independent Directors

ONE announces the Approval of Business Suspension and Resignation of Independent Directors on 12^th October 2021. ONE reported that the Company’s board of directors approved the suspension of all of the Company’s education programmes and learning centres in China. This owed to challenges presented by the latest changes in the relevant policies and legislative landscape in China’s private educational service industry, as well as the ONE’s current hardships. Liang (Mason) Xu and Yan Gong, both independent directors, stepped down from the board of directors, according to ONE. In due time, ONE will nominate two new independent directors.

Receipt of NYSE Non-compliance Letter Regarding ADS Trading Price

On 4^th August 2021, ONE stated that it has received a letter from the New York Stock Exchange. NYSE has alerted OneSmart that it has failed to meet the NYSE’s compliance requirements in relation to the performance of OneSmart’s American depositary shares trading price.

A firm is deemed out of compliance with NYSE rule 802.01C if the average closing price of security reported on the consolidated tape is less than US$1.00 for a period of 30 trading days. After being notified, the corporation has six months to raise its share price and average share price over $1.00. To resolve this problem, ONE plans to keep an eye on the market circumstances of its listed securities and is still weighing its alternatives.

ONE Stock Announces Change in Board of Directors and Management

ONE reported a change in the board of directors and management on 26^th June 2021. Mr. Honggang (Greg) Zuo, the Company’s director, chief financial officer, and chief strategy officer, has resigned owing to family obligations. At the same time, Mr. Qiang (Eason) Zhou, vice president of finance, will report directly to Mr. Steve Zhang, ONE’s CEO. Mr. Zhou joined OneSmart in 2008 and has held several positions within ONE company. Mr. Zhou is now responsible for ONE’s corporate finance, tax, financing, and internal control. Prior to 2008, Mr. Zhou worked for a number of media businesses in a variety of financial leadership capacities. Mr. Zhou is a qualified internal auditor and has more than 20 years of financial management expertise.

RLX Technology Inc. (RLX) inclines to 11.42% in the premarket. However, the last trading session closed at $4.64 with decline of 4.72%.

Change in Audit Committee Composition

RLX, a leading branded e-vapor company in China, announced on 5^th October 2021 that Ms. Ying (Kate) Wang has decided to resign as a member of the Company’s audit committee. She will assist the Company in meeting the relevant New York Stock Exchange listing requirements on audit committee independence. Ms. Zhenjing Zhu and Mr. Youmin Xi will serve on the Audit Committee going forward.

Second Corporate Social Responsibility Report

RLX released the second corporate social responsibility report on 22 September 2021. The annual report outlines the company’s efforts in minor protection, disposal pod recycling, rural vitalization, sustainable manufacturing, and animal preservation in China during the previous year. According to the report, RLX has introduced Sunflower System 3.0. It is a small protection system that requires age verification before purchases in all Chinese businesses.

Furthermore, the new technology will be placed at the point-of-sale equipment in the store. Before an order can be generated, all clients must validate their name, ID, and face. RLX has also begun its Pods Recycling initiative in China, which will transform discarded pods into raw material for cement production. Recycling disposable pods has long been an issue for the vaping business, as it is costly and difficult to regenerate secondary value. In the industry, there is no established answer.

RLX Technology – To turn used pods into cement

On 9^th September 2021, RLX announced that the company unveiled its Pods Recycling project. The company would invest 20 million yuan in China to recover old e-liquid pods and turn them into cement.  Moreover, the Pods Recycling initiative will begin in September in Beijing and then progressively expand to ten Chinese cities by February of the following year. By the end of 2022, it hopes to have covered all RELX shops in China. Lastly, RLX will collect spent pods from all other brands in addition to its own. As vaping becomes more popular, how to dispose of old pods has become a big problem for both businesses and individuals.

Kintara Therapeutics, Inc. (KTRA) has seen a push of 20.29% in the premarket. However, the last trading session closed at $0.956 with an incline of 14.52%.

Fiscal Year 2021 Results

KTRA reported fiscal year 2021 financial and corporate results on 29^th September 2021. The Company has about $10.5 million in cash and cash equivalents on June 30, 2021. The Company reported a net loss of $38.3 million. The rise in loss was primarily due to the realization of $16.1 million in non-cash expenses associated with the acquisition of in-process investment in research and development.

Moreover, to fund roughly $15 million in gross proceeds, the company entered into securities purchase agreements with healthcare-focused institutional investors. The proceeds from this registered direct offering. KTRA activated new clinical trial locations for glioblastoma (GBM) patients. This increased patient enrollment options in the United States (GCAR).

KTRA Announces Closing of $15.0 million Offering Priced at a Premium to Market

On 28^th September 2021, KTRA announced the completion of its previously disclosed registered direct offering of 12,000,000 shares. The warrants have a $1.25 per share exercise price and are good for three and a half years from the date of issuance. Before deducting placement agency fees and offering expenses, the gross proceeds to the Company totaled approximately $15 million. The net proceeds from the offering will be used to fund research trials, cash reserves, and other standard business purposes.

KTRA Announces $15.0 million Offering of Common Stock and Warrants Priced at a Premium to Market

KTRA announced its entry into securities purchase agreements with certain healthcare-focused investment firms on 24^th September 2021. It will help to raise approx $15 million in gross proceeds, before selection agent fees and other offering expenses, through the issuance of 12,000,000 shares of its common stock. The net proceeds from the offering will be used to fund clinical studies, working capital, and other standard business purposes, but not restricted to, funding mergers or investments in joint – ventures, products, or technologies to the Company’s businesses, products, and technologies.

Sentage Holdings Inc. (SNTG) experienced an incline of 13.9% in the aftermarket. However, the last trading session closed at $2.59 with an increase of 18.81%.

Closing of Initial Public Offering

SNTG announced the completion of its 4,000,000 ordinary share initial public offering on 13^th July 2021. Before eliminating underwriting discounts and other associated expenses, the Company received gross proceeds of US$20 million from the Offering. In addition, the Company has offered the underwriters a 45-day option to acquire up to 600,000 further common stock. The cmany will use the proceeds from the Offering  to support the Company’s loan advisory company, prepaid payment networking services company, and customer credit repayment and record management services business, as well as general business operations.

Pricing of Initial Public Offering

SNTG announced the pricing of its 4,000,000 ordinary shares initial public offering on 9^th July 2021. The Nasdaq Capital Market has authorised the ordinary shares for listing, and they will begin trading on July 9, 2021.

Before deducting underwriting discounts and other relevant expenses, the Company intends to receive gross proceeds of US$20.0 million from the Offering. Furthermore, the Company has granted the underwriters a 45-day option to acquire up to 600,000 additional ordinary shares at the public offering price.

The proceeds from the Offering will be used to acquire similar businesses and operations to the Company. It will also cover a business fund for loan recommendation, a business fund for prepaid payment network services, and a business fund for consumer loan repayment and collection management services.

About SNTG

SNTG is a fast-growing financial services company in China that specializes in consumer loan repayment and collection of resources, loan advice, and prepaid payment network services. The company is devoted to working with the customers in order to understand their economic needs. This will assist in accomplishing unique objectives, leveraging a thorough knowledge of our client base, strategic partner partnerships, and valuation models and technologies.

SNTG’s innovative strategy allows to provide the customers with a cost-effective and reliable consumer debt recovery solution. The company has developed and executed a systematic payback and collection management approach. In June of 2021, SNTG began offering loan recommendations. The company carefully examines the applications and supporting documents submitted by individual. After thorough assessment, SNTG personally considers qualified funding partners, who in turn provide funds directly to the borrowers.

Koss Corporation (KOSS) has risen to 5.32% in the aftermarket. However, the last trading session concluded at $19.18 with an incline of 24.95%.

Fourth quarter results 2021

On 19^th August 2021, KOSS announced the results of the fourth quarter of 2021. Sales in the fourth quarter totaled $5,420,471. The net income for the first three months was $331,943, up from $158,238 in the fourth quarter of the previous year. Moreover, the sales grew 6.7 percent from $18,311,830 last year to $19,546,008 this year.

On the Koss Classics label, the company sells a wide range of high-fidelity headphones, wireless Bluetooth speakers, computer headsets, telecommunications headsets, active noise cancelling headphones, wireless headphones, and compact disc recordings of the American Symphony Orchestra.

Third Quarter Results 2021

KOSS announced third quarter results 2021 on 12^th May 2021. Sales for the third quarter were $3,987,452, down 16.7% from $4,789,441 a year ago. The net loss for the third quarter was $474,168, compared to a net loss of $97,373 in the previous quarter. Furthermore, sales fell 1.7 percent to $14,125,537 in the nine months ending March 31, 2021. For the nine months ended March 31, 2021, diluted and basic income per common share was $0.02, compared to a loss per common share of $0.08 for the same period a year earlier.

According to the company, the gross margins are rising with the shift in sales. Domestic mass merchants usually have lower gross margins than other distribution channels. The quarter’s net loss comprised a number of unexpected non-recurring factors that pushed up administrative costs.

About KOSS

The Koss Corporation is a headphone design and manufacturing firm based in the United States. Since 1958, the firm has been headquartered in Milwaukee, Wisconsin, where it created the first high-fidelity stereophones. The firm is still designing and producing headphones and audio equipment. Koss headphones were rebranded as RadioShack headphones under licence and sold in RadioShack locations in addition to being marketed under their own brand. The noise isolation earbuds Koss Plug and Koss Spark Plug are two of their most popular items.

Their ability to accept the high-end Etymotic ear tip (known as the Koss Hybrid) as well as the popular Koss Porta Pro has contributed to their success. Since 1989, Koss has offered a limited lifetime guarantee on all headphones sold in North America, which covers normal usage by the first user or purchaser.

Waitr Holdings Inc. (WTRH) experienced an incline of 26.01% in the aftermarket. However, the last trading session closed at $0.8015 with decrease of 3.83%.

WTRH Closes ProMerchant, Flow Payments and Cape Cod Merchant Services Acquisitions

On 26^th August 2021, WTRH announced that ProMerchant, Flow Payments, and Cape Cod Merchant Services have all completed asset purchases by the Company. These innovative payment company acquisitions are part of company’s development plan to offer a comprehensive suite of payment processing services. WTRH wants to be able to provide their ecosystem partners with a full range of payment services, such as loyalty programmes, gift cards, payment processing, and merchant financing. The company considers these acquisitions as a critical step in executing this strategy, and they believe they will result in considerable future growth for WTRH.

WTRH and Smoothie King Form New Partnership

WTRH announced a new collaboration with Smoothie King on 17^th August 2021. Bite Squad and WTRH have begun delivering Smoothie King products from over 350 locations. Aside from introducing Smoothie King to the Waitr platform, the two firms are working on a variety of cooperative activities to promote the collaboration. In addition, this includes co-branding marketing options in certain areas. In fact, both firms have worked with major sports teams in New Orleans, which is one of Waitr’s key markets.

The new relationship will be streamlined because of Waitr’s latest round of digital food order integrations. Moreover, Smoothie King has remained committed to improving its digital-ordering technologies in order to better match with customer purchase patterns. Smoothie King’s online ordering, curbside pickup, and delivery services have grown in popularity since its launch in March 2020.

Second Quarter 2021 Financial Results

WTRH reported second quarter 2021 financial results on 9^th August 2021. According to the report:

• Revenue was $49.2 million in the second quarter of 2021, compared to $50.9 million in the first quarter.
• The second quarter of 2021 saw a rise in average daily orders to 38,583.
• WTRH experienced a $5.6 million net loss, compared to a $3.7 million net loss in the first quarter.
• An adjusted net loss of $4.7 million was observed.
• The second quarter of 2021 had adjusted EBITDA3 of $2.5 million, down from $8.3 million in the first quarter. WTRH invested in many important areas of the business in the second quarter of 2021, with the goal of having a long-term growth.

Flexion Therapeutics, Inc. (FLXN) has seen an increase of 73.36% in the premarket. However, the last trading session closed at $5.78 with an incline of 2.3%.

FLXN Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

On 1^st October 2021, FLXN announced equity incentive awards totaling 6,315 restricted stock units to three new employees. The Compensation Committee of the Board of Directors authorized the grants. Subject to the new employee’s continuing service connection with FLXN, the restricted stock units vest over four years, with 25% of the shares vesting on each yearly anniversary of the appropriate vesting beginning date. Moreover, the restricted stock units are subject to the terms and circumstances of the Company’s 2013 Equity Incentive Plan.

Inclusion of ZILRETTA in American Academy of Orthopaedic Surgeons

On 2^nd September 2021, ZILRETTA was included in the revised evidence-based clinical practise recommendations for the therapy of osteoarthritis. Moreover, experts recommend the use of intra-articular (IA) corticosteroids for individuals with symptomatic OA of the knee. An evaluation of 25 research evaluating IA corticosteroids led to the suggestion. A comparison of extended-release intra-articular steroid, of which ZILRETTA is the sole marketed medication, with immediate-release IA corticosteroids is included in its justification.

Expansion of Phase 1b Trial Investigating FX301 for the Management of Post-Operative Pain

On 25^th August 2021, FLXN reported that FX301’s Phase has been expanded, according to the company. Firstly, FX301 promises to relieve post-operative pain. Secondly, an assessment of safety data from the single ascending dosage stage of the study by an independent Safety Monitoring Committee led to the company’s decision to move FX301 into the expansion cohort. Thirdly, an internal review committee of FLXN evaluated the program’s safety, systemic exposure, and effectiveness data and decided to move forward with it.

Publication of Results from Phase 2 Pharmacokinetics by FLXN

FLXN announced the findings of ZILRETTA on 9^th August 2021. The researchers compared ZILRETTA’s plasma PK profile to that of immediate-release triamcinolone acetonide in crystalline suspension. However, they evaluated the drug’s safety and tolerability in patients with shoulder osteoarthritis (OA). 25 people with moderate to severe shoulder OA received a single ultrasound-guided intra-articular (IA) injection of ZILRETTA. Moreover, PK and safety characteristics were comparable to those seen in individuals with knee OA in Phase 3 trials. Lastly, the prolonged release of triamcinolone acetonide (TA) in the synovial fluid after an IA injection of ZILRETTA in the knee was likewise consistent with the plasma PK data from this research.

Bit Digital, Inc. (BTBT) has experienced an incline of 3.35% in the premarket today. However, the last trading session closed at $11.35 with an increase of 2.9%.

BTBT Announces Closing of $80 Million Private Placement

On 5^th October 2021, BTBT reported that the referral program with institutional investors for the sale of 13,490,728 ordinary shares has been completed. The investors will get unregistered warrants to acquire up to 10,118,046 ordinary shares. $5.93 buys one ordinary share and one warrant to buy three-quarters of an ordinary share. However, the warrants have an exercise price of $7.91 per whole ordinary share, are immediately exercisable. They also have a period of three and a half years from the start date of the resale listing agreement registering the regular and warrant shares. Before subtracting placement agency fees and other projected offering expenses, the overall proceeds from the private placement were around $80 million.

$80 Million Private Placement

BTBT reported that it has reached a formal deal with institutional investors to buy 13,490,728 ordinary shares on 30^th September 2021. In addition, the Company will issue registration warrants to acquire up to 10,118,046 ordinary shares. The warrants have an exercise price of $7.91 per whole ordinary share, are instantly available, and have a period of three and a half years after the effective date of the resale certificate of registration registering the ordinary shares and warrant shares.

BTBT Appoints Brock Pierce to its Board of Directors

BTBT announced on 28^th September 2021 that Brock Pierce is the new Chairman of the Bitcoin Foundation. It will be effective from October 31, 2021. Brock’s addition to the board of directors is a significant step in completing our move to North America. Furthermore, the company now has the first director located in the United States. It is part of the ongoing migration of our mining operations and management team. Brock has a track record as a recognised leader and pioneer in the Bitcoin ecosystem. Lastly, BTBT is certain that his strategic vision and relationships will assist them in achieving their growth objectives.

BTBT and Blockfusion Announce 35 Megawatt Strategic Partnership

On 7^th September 2021, BTBT announced the signing of a strategic co-mining agreement between the two companies. Blockfusion will supply BTBT with specific premises and services for the operation. Moreover, Bit Digital’s hashrate is projected to grow by up to 1.2 Exahash as a result of this cooperation. On or around September 15, 2021, Bit Digital intends to finish the first stages of mining equipment delivery for installation.