STOCKS TELEGRAPH

Author: ST Staff

  • Is This Why The Genco (GNK) Stock Rose Last Trading?

    Is This Why The Genco (GNK) Stock Rose Last Trading?

    Genco Shipping & Trading Limited (NYSE: GNK) closed the normal trading session on Friday at $16.76 up $0.74 or 4.62%. Genco stock traded 1.35 million shares during the session, which is higher than its average daily volume of 918.42K shares. Two new agreements boosted GNK stock price.

    How did those agreements come about?

    On worldwide shipping routes, Genco carries drybulk cargoes such as iron ore, coal, grain, steel products, etc. GNK specializes in capesize bulk vessels, with the other bulk vessel classes, including ultramaxes and supramaxes, representing our minor bulk vessel categories. The bulk vessel fleet at GNK includes main vessels for iron ore and coal transport, but smaller vessels for grains and steel products, as well as cargoes such as fertilizers, bauxite, nickel ore, salt, and sugar.

    Genco said it had agreed to purchase two 61,000-dwt Ultramax vessels that are scheduled for delivery in 2022.

    • Those vessels are to be constructed at Dalian Cosco KHI Ship Engineering Co. Ltd. (DACKS).
    • GNK expects to receive the vessels in January 2022.
    • This is GNK’s fifth and sixth high specification, fuel-efficient Ultramax vessel purchase since December 2020.
    • In addition, GNK will have doubled its Ultramax presence during that time.
    • As a result of the acquisition, GNK intends to fund the acquisition from cash on its balance sheet.
    • As part of its portfolio approach to fixture activity, GNK announced that it has fixed two additional vessels for a period time charter based on the strong market:
    1. At a per day rate of $32,000, Baltic Bear, a 2010-built Capesize, has been fixed for 10 to 14 months
    2. GNK fixed a 2015-built Ultramax, Genco Vigilant at $17,750 per day for 11 to 13 months beginning in October 2021

    Are the acquisitions going to help GNK?

    While advancing the age profile of GNK’s asset base with these vessels, GNK continues its growth trajectory within the key Ultramax sector. Moreover, Genco (GNK) can further lower its financial leverage and cash-flow breakeven rate as a result of acquiring these vessels without taking on excessive debt.

  • Pharmagreen (PHBI) Stock Jumped 151% On Friday, Why?

    Pharmagreen (PHBI) Stock Jumped 151% On Friday, Why?

    A gain of 151.18% brought the market capitalization of Pharmagreen Biotech Inc (OTCPink: PHBI) to $18.45M after its share price closed at $0.0530 last session. Pharmagreen stock traded 86.42M shares recently, above its average 30-day volume of 8.41M. PHBI stock rose on news a series about Pharmagreen would be filmed.

    How will that series be structured?

    Pharmagreen focuses on hemp CBD production and distribution through the use of proprietary tissue culture technology, with the potential to become one of the largest players in the CBD hemp industry. PHBI’s mission is to advance the field of tissue culture science as well as provide CBD hemp farmers and other flora with high-quality plants that are 100% germ-free and disease-free.

    DNA testing is offered for plant identification, tissue cultures preserved at low temperatures in low temperature storage for live genetics; the extraction of botanical oils, primarily CBD oil; and project development for the cannabis and agriculture industries in North America.

    A 6-part series on Pharmagreen is planned for FMW Media’s business TV show “New to The Street”, announced PHBI.

    • PHBI CEO Peter Wojcik and Jane King, the lead host of the TV show, discussed the current state of the organization’s operations.
    • As part of the 6-part televised series, Mr. Wojcik and other PHBI team members discuss how the Company plans to become one of the largest producers of hemp starter plants and add high CBD products to meet the growing demand.
    • This Sunday, May 23, 2021, at 10-11 AM ET, Newsmax TV broadcasted the first interview with Mr. Wojcik and TV host Jane King.
    • The Fox Business Network will air a rebroadcast of the interview on Monday, May 24, 10:30 PT.

    How does PHBI benefit from media series?

    PHBI’s business model is explored in-depth in FMW’s 6-part series for syndicated television audiences. Pharmagreen (PHBI)’s proprietary starter plantlets and the extensive experience and understanding of the hemp-marketed CBD products will provide very valuable information to attending audiences.

  • Kaixin Auto Holdings (KXIN) stock surged in the after hours trading session; here’s why

    Kaixin Auto Holdings (KXIN) stock surged in the after hours trading session; here’s why

    In the after-hours trading session, Kaixin Auto Holdings (KXIN) stock had surged by 6.75% to $2.53, at the last check. KXIN stock previously closed the session at $2.37. The KXIN stock volume traded 1.42 million shares today. In the past year-up-to-date, the KXIN stock had surged by 175.65% and in the past week, the shares moved up by 9.72%. In the past three and six months, the KXIN stock had shed -43.97% and -21.26%. Furthermore, Kaixin Auto Holdings is currently valued in the market at $151.70 million and has 41.72 million outstanding shares.

    What you need to know about Kaixin Auto Holdings

    Kaixin Auto Holdings is an auto & truck dealer-ship company that specifically focuses on one of the primary dealership networks with a niche of specialization in the premium used car segment. The auto company markets and runs its operations in China.

    The company has established a strong business model that incorporates a wide network of physical retail shops as well as pandemic-led-boost of digital online business.

    The organization Kaixin has changed from a tech-empowered financing stage into a cross-country seller network that joins its own and associated vendors just as worth added administrations.

    Kaixin has changed the member of its Board of Directors and its chairman

    Mr. Joseph Chen has resigned from Kaixin’s board of directors with effect from May 9, 2021. The Kaixin Auto Holdings made the announcement public on 13th May 2021; Mr. Joseph Chen has served as a director and the chairman of the Board since Kaixin’s establishment. The reasoning behind the resignation is in order to pursue focus on other business obligations. In his stead, Mr. Mingjun Lin has been appointed as the chairman of the board as well as director. Two more members became directors of the Board namely Mr. XiaoleiGu and Mr. Deqiang Chen with effect from 9th May 2021.

    Shareholders approve the resolutions passed in the special meeting

    There was a special shareholders’ meeting held on 7th of May. The purpose of the SS meeting was to hear across the shareholders and members what the different agenda items were and to approve them or not. The following were the agenda presented in front of the shareholders upon which they required resolution;

    • Each authorized issued and unissued Ordinary share of a par value of $0.0001 is proposed to be split into 2 shares with half the par value of the original previous mentioned value. This will allow the authorized share capital of the company to be equal to $50,000 with 1,000,000,000 ordinary shares.
    • as a unique resolution that the as of now compelling Second Amended and Restated Memorandum and Articles of Association of the Company be revised and rehashed by the complete cancellation and the replacement in their place of the Third Amended and Restated Memorandum and Articles of Association.

    These agendas had reached a resolution and approval from the shareholders present in the meeting and it was announced the same day as the meeting.

  • Why Has The JUVAF Stock Price Gained 34% In Last Session?

    Shares of the California-based life sciences company focused on the research, development, and commercialization of Cannabis products Juva Life Inc (OTCQB: JUVAF) closed up 34.47 percent on Thursday at $0.4751.

    A day range of $0.4900 to $0.3660 was seen by Juva stock on the day. In the absence of actual news, JUVAF stock was upbeat. Recent developments, however, might shed light on the JUVAF.

    What has recently happened at JUVAF?

    In order to make cannabis more investment grade, Juva is developing the sector’s next-generation business model. To identify molecular profiles for unmet medical needs, JUVAF employs state-of-the-art tools in discovery, development, and data science, including in-house research, cultivation, manufacturing, retailing, and delivery services. The JUVAF platform is primarily being used in cannabis-related applications, including consumer and pharma applications.

    An underutilized physical asset was recently sold by Juva for a net sum of $1.1 million (USD).

    • As part of its product development program, JUVAF provided a glimpse at its Stockton, California cannabis farm.
    • According to a press release dated November 25, 2020, Juva identified its two assets in Stockton as the Navy Drive and San Juan campuses.
    • San Juan is progressing rapidly; subsequently, JUVAF determined that its 11,500 sq. ft. Navy Drive facility was non-essential and decided to sell it.

    How did JUVAF proceed?

    It was the indirect wholly-owned subsidiary of JUVAF, VG Enterprises, LLC, which successfully completed a purchase agreement encompassing the facility and all permits. A net purchase price of $1.1 million (USD) is set forth in the agreement, with the proceeds to be used by Juva (JUVAF) for business development.

  • What Led The Enerkon (ENKS) Stock To Increase 64%?

    What Led The Enerkon (ENKS) Stock To Increase 64%?

    The share price of Enerkon Solar International, Inc (OTCPink: ENKS) rose 64.23 percent at $0.4500, and the company has traded in a day range of $0.4700 to $0.2760. It’s been a good year for Enerkon stock, with a 750.59% gain in price, reaching a high of $2.45 with a $31.78M market cap at the end of last session. An announcement about a large stock buyback campaign led ENKS stock to rise.

    How will ENKS handle the buyback?

    Enerkon is an international holding company that consists of six companies in the US and UK. Patents and Trademarks, Renewable Energy, Biotech, Solar – Hydrogen Production, Defense, and New Disruptive Technologies are just some of the major market segments that ENKS invests in.

    In a press release yesterday, Enerkon announced plans for a massive stock buyback, part of which will result in a dramatic decline in the company’s outstanding common stock.

    • In an effort to boost investor confidence, ENKS has agreed to launch a share buyback campaign starting yesterday, amounting to 25,250,000 shares.
    • This initial purchase was to acquire common shares owned by the chairman of the company.
    • CEO Benjamin Ballout agreed to allow the company to repurchase a majority of his common shares because he does not intend to sell any of his shares on the public market or to outsiders.

    What is ENKS aiming for?

    Enerkon (ENKS) plan will largely benefit public shareholders as the action will result in a reduction of shares outstanding, which will increase per-share book value, without resorting to a reverse split, which is unpopular among shareholders and investors. This move by ENKS is in preparation for the company’s NASDAQ listing, which requires a minimum share entry price of $4.00 to qualify for listing on the national exchange.

  • What Drove The Positron (POSC) Stock Up 66% During Last Session?

    What Drove The Positron (POSC) Stock Up 66% During Last Session?

    The Positron Corporation (OTCPK: POSC) last traded at $1.00, up 66.61% to bring its market capitalization to $10.98M. With 33.50 million outstanding shares, Positron stock traded between $0.75 and $1.00 on the day. POSC stock rose even without current information, so recent developments may provide some indication of the movement of the POSC.

    How recently did something happen?

    Positron is a nuclear medicine company that specializes in cardiac PET imaging – the gold standard in cardiac diagnostics. Healthcare providers can accurately diagnose coronary artery disease with PET technology, practice solutions, and services from POSC while practicing cost-effective medicine.

    In addition to the PET-only system developed by POSC, the market position it has been enjoying and approach towards facilitation of the adoption of cardiac PET contribute to the growth of the market and Positron.

    As part of the recent announcement from Positron, Skyline Corporate Communications Group, LLC was retained to provide investor relations and corporate communications for the company. Boston-based Skyline Investor Relations and Corporate Communications provides investor relations and corporate communication consulting for public companies.

    What is POSC supposed to accomplish?

    Positron (POSC) selected Skyline as its investor relations representative because of its recent operating activities, long-term growth goals, and expansion plans. As Skyline’s communications strategies, methodologies, and standards are highly regarded, they are a great match for POSC.

  • Is There Any Reason As To Why The SUIC Stock Expanded By 72%?

    Is There Any Reason As To Why The SUIC Stock Expanded By 72%?

    The market cap of Sino United Worldwide Consolidated Ltd (OTCPK: SUIC) increased by 72.08% to $ 113.57M after its stock closed yesterday’s session at $3.3900. Sino United stock had gained 72.08% during the session. A total of 33.50M shares of SUIC stock are outstanding, compared to 8.38M of float. In response to news that a credit facility had been renegotiated, SUIC stock rose.

    Which credit facility was SUIC negotiating?

    Sino United Worldwide engages in research and development, venture financing, and investments in private companies and public institutions. A number of technologies are used by SUIC in the development of its products and services, including Cloud Computing, Big Data, Mobile Payment, Blockchain, and Artificial Intelligence (AI). In order to create revolutionary products and services, SUIC intends to streamline existing processes and develop new business models.

    An Addendum to Sino United’s Supply Chain Financing Agreement was signed with Seiki Digital this week. To finance Walmart’s $70 million orders, SUIC entered into negotiations on a $50 million revolving credit facility with a variety of Asian banks. This will enable Seiki to increase orders and provide continuous financing, which will allow Seiki Digital to expand.

    How will SUIC move forward?

    A number of Sino United (SUIC)’s financial offerings as well as those of its partner companies will be used to structure economic financing programs for Seiki Digital as the company expands overseas. In addition to this credit facility, SUIC is lining up other financing resources for Seiki Digital.

  • Orezone (ORZCF) Stock Rose 18%. How Did That Happen?

    Orezone (ORZCF) Stock Rose 18%. How Did That Happen?

    The market cap of Orezone Gold Corp (OTCQX: ORZCF) soared by 18.5% at $1.1600 a share in the last session, bringing it to $321.46M. Recently, the daily average trading volume for Orezone stock was 132.68K, a higher volume than its usual volume of 65.83K shares. After releasing an update specific to the Canadian market, ORZCF stock rose.

    What did the ORZCF update cover?

    Gold development company Orezone Gold owns a 90% stake in the Bomboré diamond deposit in Burkina Faso, one of the largest undeveloped gold deposits in the country. During its 13+ year mine life, the Bomboré gold project is forecasted to produce over 118,000 ounces of gold annually, according to the 2019 feasibility study. It is estimated that Bomboré’s gold reserves exceed 5 million ounces. A gold pour is scheduled for Q3-2022 at the Bomboré mine with ORZCF fully funded.

    Project Debt Package is moving along well, Orezone announced yesterday in Canada, sharing following details:

    • In addition, ORZCF is working on finalizing the documents for the Convertible Note Facility, the Senior Debt Facility, inter-creditor agreement as well as its the Silver Stream Agreement.
    • The press release was part of ORZCF’s application to the TSX Venture Exchange with respect to the Convertible Note Facility, as required by its policies.
    • At the lenders’ option, the 8.5% Convertible Note Facility included in the Project Debt package can be converted at any point at a conversion price of US$1.08, more than 30% above the offer price of the bought deal equity offering that closed on January 28, 2021.

    ORZCF as it goes forward:

    For the approval of the Convertible Note Facility issued by Orezone (ORZCF) to Resource Capital Fund VII L.P. (“RCF VII”), ORZCF will call and hold a separate special shareholder meeting. RCF VII and Beedie Investments Ltd. committed to subscribe US$25 million and US$10 million respectively to the ORZCF.

  • Did Anything Boost Terra (TEGR) Stock Last Trading?

    Did Anything Boost Terra (TEGR) Stock Last Trading?

    The stock of Terra Energy & Resource Technologies, Inc (OTCPink: TEGR) rose 110.00% yesterday to $0.0525. The Terra Energy stock traded 3.58M shares while its average weekly volume is 1.34M. An agreement to merge the company has led to an increase in TEGR stock price.

    Exactly what did the LOI commit to?

    Terra Energy is an innovative technology company specializing in the detection, exploration, and development of natural resources. Oil & gas, metals, kimberlites, uranium, water, and other minerals are among the mineral resources explored by TEGR utilizing a suite of proprietary innovative technologies.

    In a recent press release from Terra, the company stated that Terra and Purestone US INC entered into a binding letter of intent on April 7, 2021, for the merging of the two companies.

    • TEGR anticipate that both the Merger Agreement and Share Exchange Agreement will be finalized in May 2021.
    • A number of conditions must be met for TEGR’s agreement to be approved, including satisfactory due diligence and the approval of shareholders.
    • In addition, shareholders of Purestone must approve the agreement.

    TEGR’s stake in the new entity:

    About 20% of merged equity will belong to current shareholders of Terra Energy (TEGR). Pure stone is required to file an Audit, Form 10 information, and become a full reporting company after the merger with TEGR.

  • Has Readen (RHCO) Stock Risen 87% For A Reason?

    Has Readen (RHCO) Stock Risen 87% For A Reason?

    During the past trading session, shares of Readen Holding Corp (OTCPK: RHCO) rose 87.50% to $0.1050. 3.79M shares of Readen  stock were traded at a price range of $0.0630 to $0.1300 during the session. In the absence of current news, the RHCO stock price, giving us an opportunity to focus on recent developments in RHCO.

    How was the recent progress?

    With a history of over 30 years, Readen holds a range of diversified businesses. The RHCO’s goal is to maximize shareholder value by acquiring and growing businesses that can generate sustainable free cash flow and attractive returns over the long term. Europe and Asia are home to subsidiaries and liaison offices of RHCO.

    It was announced last month that Readen would commence initial coin offering (ICO) of its 999OK-COIN.

    • There will be 3 rounds of the ICO, allowing the public to participate in this venture capital revolution.
    • 999OK-COIN is a token designed as an investment for venture capitalists.
    • The ICO will distribute 25 million coins from the total of 50 million issued during three phases.
    • In May, 999OK-COIN will be available on ZB.com, BW.com and EXX.com after the ICO.
    • Also soon, 999OK-COIN is due to be listed on an exchange in Europe.
    • 999OK-COIN will rate at $1.00 USD at the start of the ICO.

    RHCO’s business strategy:

    In the age of cyber security threats, bitcoin provides a relatively unexplored avenue of business expansion through e-commerce and payment. In its role as a venture capital company, Readen (RHCO) aims to promote the adoption of Blockchain technology among the average person and make it part of everyday life.