AUXLY Rising Auxly has announced receiving approval to up-list to the Toronto Stock Exchange.
The two most recent analysts to publish target share prices were:
Mackie Research @ $0.50 in January with projected Q4-2020 revenues at less than $16 million and FY2020 revs under $44 million.
Cantor-Fitzgerald @ $0.85 in February withprojected Q4-2020 revenues at less than $18 million and FY2020 revs under $47 million.
Neither took into account a potential up-listing to the Toronto Exchange or the potential effect of broader market exposure on share price.
The most recent financing was offered at $0.37 per share with 1/2 warrants at $0.46. The offering was fully over subscribed and closed in two weeks adding $20 million to Auxly's working capital. As of Dec. 30, 2020 Auxly listed in excess of $20 Cash On Hand in the prospectus which accompanied the February 2021, offering.
Auxly has stated that operations, financing costs and planned capital expenditures are FULLY FUNDED for 2021 and that they have set a goal of turning profitable by end of H1-2021.
Auxly is due to report Q4 and FY-2020 no later than April 30, 2021.
I'm bullish on this stock and holding long. I anticipate Auxly will meet or beat expectations for 2020.
I anticipate the up-listing to the Toronto Exchange will coincide with or immediately follow the 2020 reports.
Following that, Auxly's Q1-2021 is due to report no later than May 31, 2021.
Indications are that sales for Q1-2021 are strong.
Based on this and after studying the charts I'm definitely not parting with my core position. I'll be accumulating more under $0.50 over the next couple weeks.
Auxly's SP is currently $0.39
Hold tight mates.
cheers