Author: Mahrukh Rehan

Sonim Technologies, Inc. (SONM) has shown a decrease of 27.3% in the aftermarket because SONM announced a reverse stock split. However, the last trading session concluded at $0.523 with a decline of 6.79%.

SONM Announces Reverse Stock Split

SONM stated on 14^th September 2021 that it will reverse split its shares outstanding ordinary shares in a one-for-ten ratio. The Reverse Shares Split will take effect at 5:00 p.m. Eastern Time on September 15, 2021. The Company’s common stock will start trading on a split-adjusted basis on September 16, 2021.

Firstly, the Company’s stockholders authorized an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company’s common stock.

Secondly, the Nasdaq Shares Market LLC will continue to trade the Company’s common stock under the ticker “SONM.” Following the reverse stock split, the new CUSIP number for the common shares will be 83548F200.

Thirdly, the Reverse Stock Split will not result in the issuance of fractional shares. Stockholders who would otherwise have been entitled to a fractional share will instead receive cash from the Company’s transfer agent.

SONM Launches New XP3plus Ultra-Rugged Flip Phone

SONM announced the launch of the XP3plus flip phone on 13^th September 2021. The new Sonim XP3plus builds on the success of its ultra-rugged predecessor, the XP3, to provide increased capabilities for people who operate in challenging settings and want easy, quick, and reliable voice conversations.

In addition, the XP3plus has a bigger display, more programmable buttons, and a more simple user interface with dynamic soft keys to boost productivity. A bigger battery, the most powerful in its class, provides performance that lasts for more shifts. PTT and Emergency/SOS buttons are large, tactile, and glove-friendly, allowing for fast, error-free communication when it counts most.

The XP3plus is compatible with a broad selection of industrial-grade accessories, including headsets, remote speaker microphones, vehicle mounts, and more.

Second Quarter Financial Results 2021

SONM published second quarter 2021 financial results on 16^th August 2021. According to the reports:

• $12.0 million in net revenue, down from $12.2 million in the first quarter of 2021.
• Over the first quarter, gross profit grew 8% sequentially, while gross margin improved to 22.2 percent from 20.1 percent.
• From a net loss of $9.3 million, or $0.14 per share, in the first quarter.
• GAAP net loss improved to $6.7 million, or $0.10 per share.
• Ended the quarter with $6.9 million in cash and cash equivalents and raised an additional $8.4 million in net proceeds in July 2021 through its at-the-market stock offering program.
• The company’s next generation of tough phones is still in the works, is set to arrive in the third quarter of 2021.

Opendoor Technologies Inc. (OPEN) experiences a decrease of 6.02% in the premarket after announcing the proposed secondary public offering of common stock by selling stockholders. However, the last trading session concluded at $17.76 with a decline of 5.28%.

OPEN Announces Proposed Secondary Public Offering 

An existing shareholder of OPEN has announced the start of a planned registered secondary public offering of 28,000,000 shares of common stock on 13^th September 2021. Moreover, the underwriter will have a 30-day option to acquire up to 4,200,000 additional common shares from the Selling Stockholder. The planned offering will not result in Opendoor selling any shares or receiving any profits. Lastly, he proposed offering will not affect the number of shares of common stock.

OPEN Prices Upsized $850 Million Convertible Senior Notes Offering

OPEN announced the pricing of its private offering of $850 million on 18^th August 2021. This prize is in aggregate principal amount of 0.25 under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”). The offering size was raised from the $750,000,000 aggregate principal number of notes originally announced.

Firstly, the original purchasers of the notes were also given the opportunity to purchase up to an additional $127,500,000 principal number of notes for settlement within a period of 13 days from the day the notes were first issued.

Secondly, the notes will represent OPEN’s senior unsecured liabilities, with interest accruing at a rate of 0.25 percent per year. Thirdly, unless repurchased, redeemed, or converted before then, the notes will mature on August 15, 2026. Last but not the least, noteholders will have the opportunity to convert their notes only if specific conditions occur before February 15, 2026.

Second Quarter 2021 Financial Results

OPEN published second quarter 2021 financial results on 12 August 2021.

• First, $1.2 billion in revenue, up 59 percent from 1- Q21, with 3,481 total houses sold, up 41% from 1- Q21.
• Second, $159 million in gross profit, up 64 percent from 1- Q21. Gross margin of 13.4 percent, up 40 basis points from 1- Q21.
• Third, $144 million in net profits vs $270 million in 1- Q21
• Also, $2.5 million adjusted net income vs ($21) million adjusted net income in 1- Q2
• Lastly, at the conclusion of 2-Q21, the company had expanded to 39 markets, with 12 new market launches.

Alset EHome International Inc. (AEI) has experienced an increase of 4.23% in the premarket today. However, the last trading session closed at $2.84 with an incline of 13.15%.

$40 Million Investment from Document Security Systems, Inc.

AEI announced the completion of a subscription agreement with Document Security Systems, Inc. on 9^th September 2021. APB will issue 6,666,700 shares of its common stock. The common stock price is $6.00 per share under the subscription agreement.

As a result of this transaction, DSS now owns more than half of APB’s outstanding common stock. This makes it the company’s dominant owner. Moreover, AEI has remained a substantial stakeholder in APB. APB wants to integrate digital banking capabilities into commercial banks in the United States as it buys equity interests in them in order to provide global banking services to global clients and enhance efficiency.

DSS Receives $15 Million Investment from AEI

Alset EHome International, Inc. has announced a $15 million investment in the company on 8^th September 2021. DSS will issue 12,155,591 shares of its common stock at a purchase price of $1.234 per share, for a total of $15 million.

Furthermore, this purchase demonstrates Alset’s trust in DSS. As they work together toward a shared goal of success and a brighter future for the world, their mutually advantageous collaboration with Alset allows both firms to drive development going forward.

AEI Reports Revenue Up 142% to $12.2M

AEI reported revenue stats on 19^th August 2021.

• First, strong growth in the Company’s real estate and bio health sectors drove revenue up 142 percent to $12.2 million in the six months ended June 30, 2021.
• Second, sales growth and higher gross margins in the bio health sector drove gross margins up from $1.0 million to $5.8 million in the six months ended June 30, 2020, and 2021, respectively.
• Third, the Company incurred other expenditures of about $79.2 million in the six months. These months ended June 30, 2021, compared to other revenue of $2.8 million in the six months ended June 30, 2020.

AEI Accelerates Growth Plans after Fortifying War Chest with Latest Capital Raise

AEI provided an update on the company’s recent capital raising and expansion ambitions on 5^th August 2021. The Company has secured gross proceeds of approximately US$90 million over the last eight months. This created a significant war chest of cash to pursue its complete development objectives.

Moreover, AEI has taken the required steps to guarantee that they have sufficient cash to execute their strategy in the quarters ahead. Lastly, they will be able to implement critical strategic initiatives to position AEI for long-term, sustainable development.

Skillful Craftsman Education Technology Limited (EDTK) experiences a decrease of 11.8% in the premarket today. However, the last trading session concluded at $1.61 with an increase of 1.9%.

EDTK announces director change

EDTK announces director change on 19^th August 2021. Mr. Shaowei Zhang is the new independent director of the Board to replace Mr. Limin Huang.

Mr. Shaowei Zhang founded the First High-School Education Group Co., Ltd. He also served as the chairman of the board of directors and chief executive officer of First High-School Education. Mr. Zhang founded and served as the principal of Kunming Qihang Education and Training School.

EDTK Announces Strategic Partnership with Major Flexible Staffing Platform

Wuxi Talent Home Information Technology Co., Ltd. has established a strategic collaboration with EDTK on 10^th August 2021. To better serve talents and employers, the collaboration will combine EDTK’s experience in vocational education with WTH.

EDTK will deliver free elementary skills training courses and paid vocational skills certificate training courses. EDTK will also assist WTH in growing its company by expanding client channels, in exchange for which WTH commits to split income generated.

Acquisition of an Integrated Financial Education and Service Provider Shenzhen Jisen Information Tech Limited 

EDTK signed a formal agreement to purchase a 100 percent ownership stake in Shenzhen Jisen Information Tech Limited on May 25, 2021. The transaction was unanimously authorized by the EDTK’s board of directors. It is scheduled to conclude by the end of this month, with the issue of ordinary shares contingent on the fulfillment of certain conditions.

Firstly, Jisen Information creates trading simulators, invests in cloud education curriculum systems, and customizes data analysis platforms with help of EDTK. Secondly, it now has long-term partnerships with five Chinese universities and colleges, including Anhui Normal University, Anhui University of Engineering, and Anhui Business College.

Thirdly, Jisen Information has taught thousands of college students through its self-developed quantitative financial training program. Lastly, many Chinese firms listed overseas use Jisen Information’s SaaS-based tick-level market data analysis services.

Gran Tierra Energy Inc. (GTE) has experienced a gain of 2.42% in the aftermarket without any specific reason. However, the last trading session closed at $0.6 with an incline of 6.04%.

GTE appoints new director

On 1^st September 2021, GTE announced that Alison Redford is an independent director now. Ms. Redford works as a regulatory reform counselor to national governments and ministries in emerging countries, promoting openness and investor trust.

Moreover, she has lately provided independent guidance in Pakistan, Afghanistan, South Sudan, and Guyana. Ms. Redford also works as a strategic advisor to public companies operating in volatile political environments, assessing risk, and ensuring regulatory compliance, etc.

Second Quarter 2021 Financial Results

GTE announced second-quarter 2021 financial results on 3^rd August 2021. Despite the lower output in the quarter, the Company had paid down its credit facility debt to $175 million. Firstly, it had a cash and cash equivalents balance of $20 million as of June 30, 2021. At the end of the previous quarter, the credit facility amount was $180 million, and the cash and cash equivalents balance was $22 million.

Secondly, GTE estimates its bank credit facility to be paid down to a level of $60-80 million by December 31, 2021. This is based on projected free cash flow2 for 2021 and changes in non-cash working capital.

Thirdly, despite the lower output in the quarter, the Company’s operating expenditures were down 9% to $12.46/bbl. Lower power generating costs in Acordionero contributed to the reduction in operational expenditures.

First Quarter 2021 Financial Results 2021

On 4^th May 2021, GTE reported first-quarter 2021 financial results. Operating expenses cut down 19 percent to $13.65/bbl in the first quarter of 2020. Quality and transportation discount was down 30% to $8.98/bbl. And transportation expenses were down 24% to $1.15/bbl. The majority of these costs reductions represent structural improvements in the Company’s operations, which are expected to be maintained as oil prices recover.

General and administrative (G&A) expenditures before stock-based compensation fell by 21% in the first quarter of 2020, owing to continuing cost-cutting initiatives, largely related to lower consultancy, legal, general office, and travel expenses.

Gran Tierra intends to devote roughly 60% of its capital program for 2021 to the continued development of the Acordionero field in the Middle Magdalena Valley Basin, another 35% to development activities in the Putumayo Basin, and the remaining 5% to exploration-related activities across the Company’s portfolio in Colombia and Ecuador.

Last but not the least, the revised 2021 cash flow2 projection of $205-225 million is more than completely finance the $130-150 million capital budget for 2021.

Aterian, Inc. (ATER) has seen an incline of 3.45% in the aftermarket. However, the last trading session closed at $17.98 with an increase of 52.37%.

What’s happening?

Well, there is no news regarding ATER on today’s date. Still, there is certain news in the recent past that impact the stock to a great extent. Let’s see and analyze some of the important news launched by the company.

ATER introduces a Shareholder Perks Program

ATER announced the launch of the Shareholder Perks Program on August 30, 2021. The program provides Aterian shareholders who meet certain criteria with various discounts on the company’s best-selling goods.

Shareholders who sign up for the Perks Program will get weekly emails with valuable discounts that they may utilize across many platforms.

Second Quarter Results of 2021 by ATER

On August 9th, 2021, ATER released its second-quarter results. Net sales grew by 14% to $68.2 million in the second quarter of 2020. In the second quarter of 2020, the gross margin grew to 48.0 percent.

Moreover, operating income grew to $4.5 million from an operating loss of $(1.8) million in the second quarter of 2020. The change in fair value of earn-out commitments resulted in a $23.3 million profit.

Lastly, in Q2 2021, the contribution margin dropped to 8.3 percent, down from 16.8 percent in Q2 2020.

Investigation of Array Technologies

ATER announced the investigation against ARRY on August 6, 2021. Firstly, they claim ARRY made fraudulent and misleading representations by failing to disclose the pricing of various goods, including steel.

Secondly, the Company’s Offering Materials, according to the Complaint, contained false and misleading statements. Thirdly, they did so by concealing the fact that previous to the Offerings, rises in commodity and freight prices had been severely impacting the Company’s business and operations.

Final Verdict

The announcement of financial statistics for the second quarter of 2021 elicited a negative reaction from investors. The net loss of the Aterian shares has increased significantly as compared to the same time the previous year. Last but not the least, Investors should perform comprehensive research before adding ATER stock to their portfolios.

aTyr Pharma, Inc. (LIFE) stock experiences a sudden increase of 19.23% in the aftermarket because the company announces Positive Data from Phase 1b/2a Clinical Trial Demonstrating Consistent Dose-Response for ATYR1923 in Pulmonary Sarcoidosis. However, the last trading session closed at $9.15 with an incline of 66.97%.

Positive Data from Phase 1b/2a Clinical Trial

aTyr Pharma, Inc. (LIFE) stock Announces Positive Data from Phase 1b/2a Clinical Trial on 13^th September 2021. ATYR1923 received encouraging results from a Phase 1b/2a.

Moreover, at all dosages, ATYR1923 was shown to be safe and well-tolerated, with no drug-related severe adverse events or signs of immunogenicity. Furthermore, the study found that ATYR1923 had a consistent dosage response on key effectiveness endpoints. It also showed benefits when compared to placebo, including steroid reduction, lung function, sarcoidosis symptom assessments, and inflammatory biomarkers.

Second Quarter 2021 Financial Results

aTyr Pharma, Inc. (LIFE) stock reported second-quarter 2021 financial and corporate results on August 10, 2021. As of June 30, 2021, the company has $44.1 million in cash, cash equivalents, and investments.

Moreover, for the second quarter of 2021, research and development expenses totaled $7.7 million, largely due to program costs for ATYR1923 and ATYR2810.

In the second quarter of 2021, general and administrative expenses were $2.8 million. Lastly, as of August 9, 2021, there were 16,919,872 common shares outstanding.

LIFE Stock Announces Expansion of Research Collaboration with The Ohio State University

On 10^th August 2021, LIFE stock revealed that the company has expanded its joint effort with The Ohio State University. This will help comprehend the immune mechanisms of sarcoid granuloma formation and identify possible biomarkers of efficacy for ATYR1923. The company’s lead therapeutic candidate for the treatment of pulmonary sarcoidosis is currently under clinical development.

Firstly, Professor of Pulmonology, Critical Care, and Sleep Medicine Elliott Crouser, M.D., will lead the study. Dr. Crouser, a sarcoidosis expert, will lead the study as the primary investigator.

Secondly, the partnership will evaluate the effect of ATYR1923 on sarcoid granuloma development in vitro in blood samples collected from sarcoidosis patients.

Thirdly, the goal of the study is to discover the immunological processes involved in granuloma development. Last but not the least, the study is also done to determine if potential biomarkers indicative of robust granuloma formation may be employed as predictive biomarkers for treatment selection or response to ATYR1923.

LIFE Stock Announces Grant of U.S. Patent

LIFE stock reported on 29 July 2021 that the United States Patent and Trademark Office has awarded a patent covering techniques. These techniques will help decrease inflammatory response in the lungs using histidyl-tRNA synthetase Fc fusion proteins. The patent, entitled “Histidyl-tRNA synthetase-FC conjugates,” addresses the use of ATYR1923 to reduce the inflammatory responses in the lungs.

Last but not the least, ATYR1923 is an Fc fusion protein based on the N terminal segment of histidyl-tRNA synthetase that is being tested in various inflammatory lung disorders and is now in clinical development for the treatment of pulmonary sarcoidosis.

Denison Mines Corp. (DNN) stock experienced an increase of 6.92% in the premarket on 13^th September 2021. The last trading session concluded at $1.59 with an increase of 12.77%.

Second-quarter 2021 results

DNN stock announced second-quarter 2021 results on 5^th August 2021. Some of the highlights are as following:

• All five commercial-scale wells and nine of eleven monitoring wells have been successfully installed. Multi-day pump and injection tests, as well as ion tracer tests, will start and finish during the third quarter, based on current developments.
• GWR-045 projects to intersect low-grade uranium mineralization on the northwest border of the deposit. This is done according to the mineral resources currently assessed for Phoenix.
• Positive interim results from the ongoing metallurgical test for the planned ISR mining operation at Phoenix have consistently supported a uranium-bearing solution.

DNN Stock Reports Decision to Increase Anticipated ISR Mining Head Grade

DNN stock announced the Decision to Increase the Anticipated ISR Mining Head Grade on 4^th August 2021. The company reported good interim findings from the Wheeler River Uranium Project’s ongoing metallurgical test. Too far, test work has consistently supported an ISR mining uranium head-grade for Phoenix.

Denison Acquires 50% of JCU (Canada) Exploration Company

On 3 August 2021, DNN stock announced the completion of its acquisition of a 50% stake in JCU (Canada) Exploration Company, Limited for $20.5 million in cash. Denison bought a 50% stake in JCU shortly after UEX bought all of JCU’s outstanding shares for $41 million in cash from Overseas Uranium Resources Development Co., Ltd.

DNN stock Provides Interim Progress Update on ISR Field Test Activities

On 29 July 2021, DNN stock provided an update on the In-Situ Recovery field testing operations taking place at Phase 1 of the high-grade Phoenix uranium deposit.

The Company also announced the discovery of additional high-grade uranium mineralization in drill hole GWR-045. It included 22.0 percent eU3O8 over 8.6 meters, outside of the existing high-grade resource domain associated with Zone A and Phase 1 of the phased mining approach currently planned for Phoenix.

DNN stock made Agreement to Acquire 50% of JCU

DNN stock announced that it has entered into a binding agreement to acquire 50 percent ownership of JCU (Canada) Exploration Company, Limited on 15^th June 2021.

Firstly, JCU owns a 10% interest in Denison’s 90%-owned Wheeler River project. Secondly, it owns 30.099 percent interest in the Millennium project (Cameco Corporation 69.901 percent ). Secondly, it also has a 33.8123 percent interest in the Kiggavik project. Last but not the least, it carries 34.4508 percent interest in the Christie L project as well.

Advaxis, Inc. (ADXS) saw a decline of 5.00% in the premarket today without a specific reason. However, the last trading session closed at $0.6 with an increase of 28.15%.

What’s going on?

ADXS did not publish any latest press release or news on today’s date. But there are certain press releases recently updated by the company. Let’s have a look at them.

Third Quarter 2021 Financial Results

ADXS announced Third Quarter 2021 financial results on 10^th September 2021. In the third quarter of the fiscal year 2021, research and development costs were $1.70 million. The $1.76 million drop was largely due to a significant reduction in expenditures connected with the winding down of clinical trials.

Firstly, for the three months ended July 31, 2021, general and administrative costs were $2.68 million. Secondly, increases in legal and consulting fees accounted for the majority of the $0.3 million raise. It was somewhat offset by staff expenses, and expenditures linked to the abandonment of non-strategic intellectual property.

Thirdly, the Company has about $45.3 million in cash and cash equivalents as of July 31, 2021.

Nasdaq Grants ADXS, Inc. an Extension to Regain Compliance

During the ADXS’s hearing before the Nasdaq Hearings Panel, the Panel decided to give the Company an extension until November 22, 2021. This will help to comply with Nasdaq’s $1.00 Minimum Bid Price Rule and complete its previously announced merger transaction with Biosight, Ltd.

Moreover, ADXS announced a merger deal with Biosight on July 6, 2021. The merged company will have to fulfill all applicable initial listing criteria. This will include the $4 per share price requirement, upon the merger’s completion, according to the Nasdaq Listing Rules.

Furthermore, the Company thinks it will be able to complete the merger and demonstrate compliance with all applicable criteria for an initial listing on The Nasdaq Capital Market on or before November 22, 2021.

ADXS Announces Initiation of Phase 1 Clinical Trial of ADXS-504

On 15^th July 2021, executives have approved ADXS-504 for use in individuals with biochemically recurrent prostate cancer in Phase 1 clinical trial. The research is the first clinical investigation of ADXS-504.

ADXS’ off-the-shelf neoantigen immunotherapy medication candidate for early prostate cancer. Last but not the least, the study’s primary investigator is Mark Stein, M.D., an associate professor of medicine in Columbia University’s Vagelos College of Physicians and Surgeons’ Division of Hematology/Oncology.

VirnetX Holding Corp (VHC) has experienced an increase of 5.62% in the premarket. However, VHC stands at $4.09 with a decline of 2.39% in the last trading session.  

VirnetX Submits Agreed Bill of Costs and Prejudgement Interest 

VHC stated on 21 January 2021 that JT has filed a $75,701,763.18 Agreed Bill of Costs and Prejudgment Interest. This is based in connection with the previously reported $502,848,847 jury decision.

Moreover, the ultimate judgment in VirnetX’s favor for Apple infringing products sold in the United States now totals $578,550,610. This cost includes expenses and prejudgment interest. The overall amount of the $0.84 continuing royalty per infringing Apple device is yet to be calculated.

These sums have been agreed upon after the parties met and conferred. Apple has reviewed this submission and does not dispute the amounts provided or that the computations are correct.

VHC Receives $502.8 Million Plus Interest

VHC announced on 15^th January 2021 that the United States District Court for the Eastern District of Texas entered a Final Judgment. Moreover, it issued its Memorandum Opinion and Order regarding post-trial motions arising from VirnetX’s prior $502.8 million jury verdict.

Furthermore, the District Court upheld the jury’s $502.8 million decision and granted VirnetX’s requests for pre-and post-trial interest, additional damages, costs, and an ongoing royalty of $0.84 for each infringing iPhone, iPad, and Mac product.

VHC Hires Chief Operating Officer for Japan Licensing

VirnetX KK, the company’s Japanese affiliate, has appointed Darl McBride as Chief Operating Officer (COO) on 11 January 2021. McBride will collaborate with IP Dream, a Japanese strategic technology distributor and service provider, to advance VirnetX’s technology licensing activities in Japan.

McBride previously led Novell’s rapid expansion in Japan, collaborating with Masa Son, Softbank’s founder, and CEO, etc. They worked together to create a Novell-Softbank joint venture that grew into a billion-dollar corporation and Novell’s greatest profit center outside of the Americas.

 VHC Awarded $502.8 Million in Apple Suit

VHC reported in November 2020 that a federal jury in the United States District Court for the Eastern District of Texas awarded VirnetX $502,848,847. Lastly, the jury awarded $0.84 each infringing device since the debut of Apple’s iOS 7 operating system in 2013. This equates to 598,629,580 infringing units sold in the United States alone.