Category: Mid Day Movers

Bit Digital, Inc. (BTBT) stock plummeted 14.03% in the current market trading session at the price of $6.80 after announcing a private placement of $80 Million. BTBT is a bitcoin mining enterprise with mining operations in the United States and Canada. 

On 30th September 2021, BTBT published that it had joined an agreement to purchase up to 13,490,728 ordinary shares in a private placement. The purchase price is $5.93 per ordinary share. Bit Digital will also offer its investors warrants to purchase an aggregate of 10,118,046 common shares. These offered warrants have an exercise price of $7.91 per whole ordinary share. Gross proceeds from the private placement are $80 million, including placement agent fees and offering expenses. The private placement will close on 4th October 2021 and is subject to the customary closing conditions. 

Appointment of Brock Pierce to Board of Directors 

On 28th September 2021, BTBT appointed Brock Pierce to its board of directors. The appointment will be effective from 31st October 2021. Brock is the co-founder of EOS Alliance, Blockchain Capital, Tether, and Master coin. He is also the Chairman of the Bitcoin Foundation. Brock Pierce has an exceptional track record of founding, advising, and investing in disruptive enterprises. Pierce has established the digital market and has raised near $5B for his founding companies. 

Chief Strategy Officer of BTBT, Sam Tabar, remarked that Pierce’s appointment as the board of directors is a step further to develop their transition into North America. Brock is an experienced leader with a proven track record in the Bitcoin industry. They are confident his diplomatic vision and relationships will help them administer their growth strategy, he added.

Brock Pierce stated that BTBT is a leading mining industry because of its current fleet size and dedication to becoming carbon-neutral. He looks forward to serving its directing board and offering his experience to the company. 

BTBT Strategic Partnership with Blockfusion 

On 7th September 2021, BTBT announced that it had entered into a strategic co-mining agreement with Blockfusion USA, Inc. Under the terms of the agreement, Blockfusion will deliver specific services to BTBT for a 35 MW bitcoin mining operation under the term of two years. This strategic collaboration will improve Bit Digital’s hash rate to approximately 1.2 Exahash (EH). The company expects to complete the first phase of miner equipment deliveries for installation on 15th September 2021.

Li-Cycle Holdings Corp. (LICY) stock soared 8.64% in the current-market trading session at the price of $11.95 following the announcement of a $100 million investment from Koch Strategic Platforms (KSP). Li-Cycle delivers a customer-centric solution for lithium-ion batteries by leveraging its innovative Spoke & Hub Technologies. Lithium-ion batteries are automotive and have consumer electronics and other industrial and domestic applications.  

Investment of $100 Million from KSP 

On 29th September 2021, LICY published that Koch Strategic Platforms (KSP) will invest $100 million through the purchase of a convertible note. This investment intends to support LICY’s rapidly increasing growth opportunities. As per the terms of the investment, KSP will purchase a convertible note in an aggregate principal amount of $100 million with an initial conversion price of $13.43 per common share. The investment is subject to customary anti-dilution conditions.  

CEO of LICY, Ajay Kochhar, commented that this investment would further accelerate the development of lithium-ion battery recycling footprint. Recycling and recovery of lithium-ion rechargeable batteries are crucial for the electrification of transportation. President of KSP, David Park, remarked that LICY is a leading industry with a strong portfolio of strategic partnerships and proven innovative technology. They are confident in the company’s cutting-edge technology and expertise to deliver long-term value to its stakeholders. 

LICY Reported Third Quarter 2021 Financial Results 

On 9th September 2021, LICY published an earnings report for its third quarter ended 31st July 2021. Total revenues increased 840% to $1.7 million in the third quarter of 2021. Total revenues were $0.2 million in the same quarter ended 31st July 2020. The increased revenue in 2021 resulted from higher recycling services and product sales. 

LICY reported net loss of approximately $6.9 million for the third quarter ended 31st July 2021. Net loss was $1.8 million in the same quarter ended 31st July 2020. For the third quarter of 2021, operating expenses improved to $7.9 million. Operating expenses were $1.9 million during the third quarter of the previous year. LICY reported an Adjusted EBITDA (loss) of $(5.2) million in the third quarter of 2021, compared to $(1.3) million for the same quarter of 2020. 

Cash flows from operating activities were $5.2 million in the third quarter ended 31sh July 2021, compared to $2.2 million during the same quarter of 2020. As of 31st July 2021, cash, cash equivalents, and marketable securities were $2.4 million. The shares outstanding of common shares were 163,179,553, as of 31st August 2021. 

Jiuzi Holdings, Inc. (JZXN) stock soared 12.65% in the current-market trading session at the price of $2.76 after it entered into a strategic cooperation agreement with Shaanxi Tongjia Auto. Jiuzi Holdings is a Chinese company with thirty-one operating franchise stores and one company-owned store. It sells battery-operated electric vehicles and sources New Energy Vehicles (NEVs) through twenty manufacturers. 

Strategic Cooperation Agreement with Shaanxi Tongjia Auto Co., Ltd. 

On 29th September 2021, JZXN published that it had entered into a strategic agreement with Shaanxi Tongjia Auto Co., Ltd. Under the deal, Tongjia will deliver 2000 new energy vehicles to Jiuzi Holdings. It includes Electric OX II, the company’s best-selling electric delivery vehicle. Initially, JZXN, through its subsidiary Hangzhou Zhitongche Technology, will give an RMB20 million loan to Tongjia’s licensed dealers. Both companies will utilize their resources to mutually create a clean, safe, and effective industrial production chain to meet clients’ needs. Few months back, the company announced cooperative agreements with Chongqing Ruichi Automobile Industry Co., Ltd. and Hemei Auto Holdings Co., Ltd. 

CEO of JZXN, Mr. Shuibo Zhang, remarked that they are pleased to initiate this strategic partnership with Tongjia Auto Co., Ltd. Tongjia is the leading new energy vehicles producer and retailer in Northwest China. It has started working on new energy vehicles production and made remarkable progress in developing new vehicle models. They believe that this collaboration will have positive impact on the new energy vehicle industry in coming years, he added.  

JZXN Published First-Half 2021 Financial Results 

On 5th August 2021, JZXN announced its financial results for the six months ended on 30th April 2021. For the six months ended 30th April 2021, net revenues grew by 260.88% or $3.33 million to $4.61 million from $1.28 million during the same period of 2020. Net income was $1.31 million for the six months ended 30th April 2021. The net loss was $0.03 million for the six months ended on 30th April 2020.

For the six months ended 30th April 2021, gross profit and gross profit margin were $3.12 million and 67.75%. The gross profit and gross profit margin were $0.49 million and 38.05% for the six months ended 30th April 2020.  JZXN reported income from operations of $1.81 million for the six months ended on 30th April 2021. For the six months ended on 30th April 2020, the operating loss was $0.04 million. 

Crown ElectroKinetics Corp. (CRKN) stock soared 6.15% in the current-market trading session at the price of $3.61 after it signed its first commercial customer agreement with MetroSpaces, Inc. CRKN is a leading glass technology company. Its technology enables the glass surface to transition between clear and dark within seconds and is appropriate for commercial buildings, automotive sunroofs, and household skylights.  

CRKN Signed First Commercial Agreement with MetroSpaces 

On 28th September 2021, CRKN has signed its first commercial customer agreement with MetroSpaces Inc. MSPC is a Proptech company that unites world-class real estate advancement with cutting-edge technology. CRKN will install its Smart Window Inserts in the Texas office building in MetroSpaces’ 70,000 square-foot Houston.  

CEO of CRKN, Doug Croxall, remarked that they have entered into this agreement to introduce new technology to the market and cooperate with developers in the space. MetroSpaces is an innovator working towards the shared goal of designing commercial buildings in terms of tenant comfort and lower carbon emissions. The successful completion of this milestone will pave the way for large prospective consumers to follow this path. They look forward to successful installation and long-term customer relationships to rollout in MetroSpaces buildings, he added.  

Appointment of Mindy Hamlin as Vice President of Engineering 

On 8th September 2021, CRKN announced the appointment of Mindy Hamlin as Vice President of Engineering. Before this position, Mindy Hamlin has served as the Director of Technology, Development, Infrastructure, and Operations at HP Inc. As a director in HP Inc., she has supervised Printhead MEMS Fab development operations for inkjet print heads. Previously, Mindy worked at Hewlett Packard as research and development Section Manager. She has a Bachelor’s degree in Mechanical Engineering from California State University, Fresno. 

Mindy Hamlin stated that CRKN is producing an innovative product to lessen energy costs and carbon emissions tests. It will provide their customers a unique option to achieve their sustainability and cost-saving initiatives. She is looking forward to joining the team of experts to efficiently and effectively deliver this technology to customers. 

CEO Remarks

Doug Croxall remarked that they are excited to welcome Mindy to their management team. She has over 30 years of experience in managing and developing teams across the complete product advancement lifecycle. She also has expertise in research and development, process engineering, factory design, and automation. Her exceptional insights and expertise further advance their engineering capabilities as they look forward to commercializing their Crown’s DynamicTint, he concluded. 

Sonoma Pharmaceuticals, Inc. (SNOA) stock soared 38.79% in the current-market trading session at the price of $7.42 after the company launched its first over-the-counter products on Amazon in the U.S and Europe. SNOA is a leading global healthcare company. It develops and commercializes stabilized hypochlorous acid (HOCl) products for a broad range of health care treatments. 

SNOA Launched First Over-the-Counter Products on Amazon 

On 28th September 2021, SNOA published that it had launched MucoClyns on Amazon sites in Europe and Regenacyn Advanced Scar Gel and Ocucyn Eyelid & Eyelash Cleanser on Amazon.com. These over-the-counter consumer products are based on Microcyn technology and are now available for customer orders. CEO of SNOA, Amy Trombly, remarked that they are more than happy about making their reliable and efficient products available to consumers through the Amazon platform. They are working to deliver their clinically proven Microcyn Technology to a broad range of patients, he added.  

Dental Care Line for Professional and Consumer Care 

On 19th August 2021, SNOA reported the launch of two new dental products. Microdacyn Oral Care had launched in Switzerland for both professional and consumer use. OroGenix Oral Hygiene Rinse, produced in partnership with Gabriel Science, LLC., is the company’s second dental product in the United States. COO of the company, Bruce Thornton, remarked that they are excited to launch the oral rinse for dental offices in Europe and the U.S. Both Gabriel Science and Medical System are the company’s perfect partners to develop dental and oral care products. Their Microcyn technology is the next-generation formulation because of its antimicrobial effect, shelf stability, and security. 

SNOA First Quarter 2022 Financial Results 

On 16th August 2021, SNOA published an earnings report for its first fiscal quarter ended 30th June 2021. For the quarter ended 30th June 2021, total revenues were $3.7 million. It represents the drop of $2.1 million or 36% from $5.8 million for the same quarter of last year. Net loss was $1.1 million for the quarter ended 30th June 2021. It represents a gain of $391,000 or 55% compared to a net loss of $709,000 for the quarter ended 30th June 2020. The rise in net loss resulted from the higher sale of the Micromed business last year. For the first quarter of fiscal 2021, EBITDAS loss was $0.8 million. The EBITDAS loss was $0.6 million for the same quarter ended 30th June 2020.

Cellect Biotechnology Ltd. (APOP) stock soared 17.25% in the current-market trading session at the price of $22.23 following the strategic merger agreement with Quoin Pharmaceuticals. APOP has introduced a stem cell related technology that intends to improve a variety of cell-based therapies.

Agreement Approval

On 27th September 2021, APOP published that shareholder had approved the previously announced strategic merger agreement with Quoin Pharmaceuticals. Quoin is a pharmaceutical company that works on rare and orphan diseases. At the Special General Meeting, 99% of the votes cast on the strategic merger agreement with Quoin voted in favor of the proposal. The company has filed the voting results in a Current Report on Form 6-K with the U.S. Securities and Exchange Commission. The strategic merger is expected to close in October 2021 and is subject to the customary closing conditions. 

ApoGraft Bone Marrow Transplantation of First Patient 

On 2nd September 2021, APOP published the first ApoGraft transplantation in a Leukemia patient at Washington University in the U.S. ApoGraft prevents graft-versus-host disease (GVHD) and works on the company’s cell selection technology devised to optimize immune therapy. The trial enrolled 18 patients with hematological malignancies undergoing a haploidentical Bone Marrow Transplantation (BMT). EnCellX is collecting funds from leading healthcare institutional investors to facilitate and expand clinical development.  

APOP Second Quarter 2021 Financial and Operating Results 

On 24th August 2021, APOP reported financial and operating results for the second quarter ended 30th June 2021 and published updates on the proposed strategic merger with Quoin Pharmaceuticals. APOP reported finance expenses of $0.43 million for the second quarter of 2021. The finance expenses were $1.63 million in the second quarter of the prior year. For the second quarter ended 30th June 2021, the total comprehensive loss was $1.7 million or $0.004 per share. The total comprehensive loss was $2.7 million or $0.007 per share, for the second quarter ended on 30th June 2020. 

APOP reported research and development expenses of $0.42 million for the second quarter ended 30th June 2021. R&D expenses were $0.42 million in the second quarter of the previous year. General and administrative expenses were $0.86 million for the second quarter ended 30th June 2021. Reported G&A expenses were $0.65 million for the second quarter ended 30th June 2020. The 2021’s general and administrative expenses included higher professional services fees related to the proposed strategic merger with Quoin.   

Red Cat Holdings, Inc. (RCAT) stock soared 70.41% in the current-market trading session at the price of $3.54 after its subsidiary “Skypersonic” received a five-year contract with NASA. RCAT delivers services and solutions to the drone industry. Skypersonic, one of its four subsidiaries, provides software and hardware solutions to drones to inspect the locations where GPS is not available.

Skypersonic Received NASA Contract

On 27th September 2021, RCAT published that its subsidiary, Skypersonic, had been granted a five-year contract with NASA. The contract aims to provide drone software and hardware to NASA for its Simulated Mars mission.

CEO of Skypersonic, Giuseppe Santangelo, remarked that they are delighted NASA had chosen their technology to operate its drones in the simulated Mars environment. CEO of RCAT, Jeff Thompson, added that they are honored to have Skypersonic working with NASA on this scientific Mars project. They believe their patent remote pilot capability is a game change-changer in this industry. Remote piloting reduces the biggest cost of drone fleet programs by changing the entire drone ecosystem, he concluded.

RCAT Fiscal First Quarter 2022 Financial Results

On 20th September 2021, RCAT published its financial results for the fiscal first quarter ended 31st July 2021 and provided a corporate update. Chief Financial Officer, Joseph Hernon, remarked that their first-quarter earnings highlighted their strengthened capital position, continued revenue growth, and additional acquisitions. They have begun the second quarter with $66 million in cash and cash equivalent. They are planning to invest in key growth initiatives, he added.

Fiscal First Quarter 2022 Financial Highlights

The company reported revenues of $1.4 million for the fiscal quarter ended 31st July 2021. Total revenue was approximately $548,000 for the fiscal quarter ended 31st July 2020. Adjusted Net loss was $1.1 million for the quarter ended 31st July 2021. It excluded non-cash expenses related to derivative liabilities and stock-based compensation. The adjusted net loss was $276,000 for the fiscal quarter ended 31st July 2020. The company reported cash and cash equivalents of approximately $66.1 million as of 31st July 2021. The company closed two public offerings that are up-listed to the Nasdaq exchange and raised $76 million in gross proceeds as of 31st July 2021.

RCAT Changes in Management

RCAT appointed Dr. Allan Evans as a chief operating officer of Global Defense Solutions. Geoffrey Hitchcock has also been appointed as Senior Vice President. Both appointments became effective immediately.

InnovAge Holding Corp. (INNV) stock plummeted 22.70% in the current-hours trading session at the price of $9.00 following the announcement of its fourth-quarter and fiscal 2021 financial results. INNV is a leading platform focused on enabling elders to age independently in their own houses. Their patient-centered care model provides high-quality care to customers while minimizing expensive care settings. 

INNV Fiscal Year and Fourth Quarter 2021 Earnings Report 

On 21st September 2021, INNV published financial results for its fourth quarter and fiscal year ended 30th June 2021. CEO of InnovAge, Maureen Hewitt, remarked that they had witnessed substantial growth in their fourth-quarter 2021 financial results. They have ended the year with 6,850 participants, which represents a year-over-year increase of 7.4%. They have generated $637.8 million of total revenues, a 12.5% gain compared to fiscal 2020. They have opened two new centers during the pandemic and are on track to open de novo centers in fiscal 2023. They have also expanded their leadership team with new appointments of Nicole D’Amato as Chief Legal Officer, Eimile Tansey as Chief People Officer, and Olivia Patton as Chief Compliance Officer. 

Fiscal Year 2021 Financial Results 

INNV reported total revenue of $637.8 million in the fiscal year ended 30th June 2021. It represents an increase of 12.4% from $567.2 million in the fiscal year 2020. Net loss was $44.7 million in fiscal 2021, a drop from net income of $25.8 million compared to fiscal 2020. Net loss attributable to the company was $44.0 million or $0.36 per share. The company reported an adjusted EBITDA of $85.3 million in full-year 2021. It represents 29.5% year-over-year growth compared to $65.9 million in the fiscal year 2020. The fiscal year 2021 ended with $201.5 million in cash and cash equivalents and $84.6 million in debt on the balance sheet. 

Fourth Quarter 2021 Financial Highlights 

INNV reported total revenue of $171.6 million for the fourth quarter ended 30th June 2021. It represents an increase of 12.5% from $152.5 million in the same quarter of 2020. Net income was $6.3 million in the fourth quarter ended 30th June 2021. For the fourth quarter of 2020, the reported net income was $12.0 million. Net income attributable to INNV was $6.5 million or $0.05 per share in the fourth quarter of 2021, compared to $12.1 million or $0.09 per share in the fourth quarter of last year. Adjusted EBITDA was $19.3 million in the fourth quarter ended 30th June 2021, compared to $22.9 million in the same quarter of the previous year.