EastWest Bioscience Inc V.EAST.H

Good article!

[yixter]

EAST is up 100% to $0.03 on over 5 million shares traded in mid-afternoon trading after the announcement that its hand sanitizer received Health Canada approval. This is big news as EAST has only a $2.5 million market cap with 85 million shares outstanding. CEO Rodney Gelineau recently purchased EAST shares on the open market at $0.015 and owns a total of 15 million, or 18% of total shares outstanding. The comparable company in the United States is Youngevity International, Inc. (YGYI), which has more than doubled in price since April 6th when it announced FDA approval for its hand sanitizer product. YGYI has added and kept $25 million in market cap since approval. Even when accounting for a market that is one-tenth the size of the United States, EAST's news justifies at least a $2.5 million market cap increase, or $3.5 million Canadian. We have seen examples in Canada such as MedMira (MIR.V) (MMIRF) and Datametrex AI (DM.V) (DTMXF) which trade far greater than 10% of comparable stocks in the United States. DM trades at a $30 million market cap and MIR at $200 million; the latter being comparable in size to Aytu BioScience, Inc. (AYTU). DM has achieved Health Canada approval while MIR is seeking FDA EUA approval for their COVID-19 test kits. Given these circumstances, we can see EAST trading in the $5 million to $10 million market cap range, or $0.06 to $0.12 per share.