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Buzz on the Bullboards: Are We Headed for a Major Market Correction?

Stockhouse Editorial
1 Comment| August 19, 2021

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(Image via Datametrex AI Limited.)

Datametrex AI Ltd. (TSX-V: DM, Forum) announced this week that achieved the highest net income and revenue in its history.

A technology-focused company with exposure to Artificial Intelligence and Machine Learning, Datametrex reported net earnings of $10,410,485 in the six months ended June 30, 2021 on revenue of $29,494,191. The company finished the second quarter with cash of $10,555,375 and marketable securities of $2,486,962.

Q2 2021 financial summary:

Financial highlights for the six-month period ended June 30, 2021 compared to June 30, 2020:

  • Revenue of $29,494,191 compared to revenue of $2,763,796
  • Net earnings of $10,410,485 compared to ($1,590,239)
  • EBITDA of $12,250,211 compared to ($1,197,679)
  • Cash balance increased to $10,555,375 from $1,971,987 in 2020

Marshall Gunter, CEO of Datametrex commented on the company's results.

“We are very pleased with the achievements and the financial results we have delivered over the first half of 2021, and remain optimistic in our outlook as we move through the remainder of 2021. We also continue to expect greater profitability and notable cash flow driven by COVID-19 testing and the integration of Medi-Call, a multi-year strategic initiative undertaken as part of our post-pandemic world.”

Financial highlights for three months ended June 30, 2021 (Q2):
Q2 2021 Q2 2020 % Change
Total revenues $10,448,303 $1,954,394 434.6%
Income/Loss before income taxes $1,034,941 ($868,478) 219.2%
Net Income/Loss $850,134 ($868,478) 197.9%
Income per share - basic $0.003 ($0.003) 200%
EBITDA $1,565,957 ($669,376) 333.9%

Q2 highlights

  • In June, the company completed the acquisition of Medi-Call Inc. Medi-Call is now a wholly-owned subsidiary of Datametrex.
  • The company announced new sales revenue from Incheon International Airport Corporation and the Shinhan Financial Group, located in Seoul, South Korea.
  • The company's common shares began trading on the OTCQB under the stock symbol DTMXF.

Despite a significant market slowdown due to the pandemic, Datametrex continued to improve its balance sheet in Q2. The company said it will continue to focus its resources on expanding and improving its AI business in 2021.

Given the surge in the need for additional healthcare resources, establishing alternative healthcare options becomes critical. Datametrex understands that non-acute healthcare can mitigate exposing patients and their families to COVID-19. The company is exploring deploying a variety of audio and video technologies to expand its telemedicine services.

“I am extremely proud of our whole team. We continue to experience growth as a result of our growing portfolio of companies. The future prospects of Datametrex continue to improve with our swelling customer base. We look forward to executing our business plan for the remainder of the fiscal year,” commented Andrew Ryu, Chairman of Datametrex.

High tech company PyroGenesis Canada Inc. (TSX-V.PYR, Forum) released some details on a $1.2 million (CAD) contract for two Air Plasma Torch systems with an existing Asian client.

The client, whose name is being withheld for competition reasons, will incorporate the torches into its medical waste destruction systems. The company expects to deliver the torches in Q1 2022. P. Peter Pascali, CEO and Chair of PyroGenesis, commented,

“This contract is for two Air Plasma Torch systems, which are low-powered and very different from the high-powered torches we offer to other industries (for example – iron ore pelletization), and underscores both the versatility and acceptance of our torches as well as our unique engineering capabilities.

Of note, if successful, these medical waste systems may replace legacy technologies, such as medical incinerators, which are inefficient and widely criticized for generating greenhouse gases. There is an enormous unaddressed medical waste management need worldwide, particularly in Southeast Asia (World Health Organization), for cutting edge solutions such as this.

More importantly, this entry into the medical waste destruction market is just another of our offerings that complement our strategy to become a preeminent supplier of processes that reduce greenhouse gases.”

PyroGenesis Canada designs, develops, manufactures, and commercializes advanced plasma processes with a sustainable focus. It works in partnership with other companies in this space, such as silicon solutions company HPQ Silicon Resources Inc. (TSX-V: HPQ, Forum).

Serving as technology provider, PyroGenesis has confirmed that, after all the COVID related delays, the GEN3PUREVAP Quartz Reduction Reactor power supply, the final missing component, has shipped from the manufacturer and is on route to PyroGenesis production facility in Montreal. This milestone is another step toward Q4 2021 GEN3 PUREVAP QRR commissioning.

(Image via Extreme Vehicle Battery Technologies Corp.)

Battery technology company Extreme Vehicle Battery Technologies Corp. (CSE: ACDC, Forum) is giving away a 2023 IoniX Pro Trilogy Vision Electric Vehicle (EV, pictured above).

The Trilogy Vision EV is being made in collaboration with its subsidiary, IoniX Pro Battery Technologies Inc. and Daymak International Inc. The Trilogy Vision is a proposed three-wheel, two-seat performance electric vehicle designed to provide the experience of ultimate luxury, eco-efficiency, and sports car speed. The vehicle’s sleek body style and advanced eco-technology are expected to be ideal as both a commuter and recreational EV. The contest begins on August 9 and ends on September 30 at 12:00 pm ET. The winners will be announced on October 15, 2021.

The grand prize winner will receive one of the first brand new production Trilogy Visions. The first runner-up will receive an all-inclusive trip for two to Mexico, including flights, for up to five nights. The second runner-up will receive a $3,000 (CAD) travel voucher. The contest is open to all residents of the United States and Canada (excluding Quebec) who have reached the age of majority in their state, province, or territory of residence at the time of entry. Entries will be made through Facebook, Instagram, or Twitter.

“This contest gives prospective consumers the chance to win one of the first models off the assembly line,” said IoniX Pro Chief Innovation Officer, Robert Abenante.

In mining news, New Found Gold (TSX-V: NFG, Forum) has entered into an agreement with Canaccord Genuity Corp. and BMO Capital Markets on behalf of a syndicate of underwriters who have agreed to purchase, on a bought deal basis, 4,390,000 flow-through common shares of the company that will qualify as flow-through shares at a price of $11.39 per flow-through share for gross proceeds of $50,002,100.

Canadian copper producer, Nevada Copper Corp. (TSX: NCU, Forum) reported this week that it had mined approximately 9,500 tons at a grade of 1.5% Cu out of the first stope mined since the restart of the mine in the East South area. Tons mined and ore breakage was consistent with the plan, indicating that the mining method was appropriate for the ground conditions where the stope is located, although mining of the stope was later than originally planned. Subsequently, the stope was successfully backfilled, and the company is now preparing to mine the next stope in the East South area.

(Image via Ivanhoe Mines Ltd.)

Ivanhoe Mines Energy DRC - a sister company of Kamoa Copper SA operating under Ivanhoe Mines Ltd. (TSX: IVN, Forum) is in the business of delivering reliable, clean, renewable hydropower to the Kamoa-Kakula Copper Mine - has extended its existing financing agreement under a public-private partnership with the Democratic Republic of Congo's state-owned power company, La Société Nationale d' Électricité (SNEL), to upgrade turbine 5, a major turbine in the existing Inga II hydropower facility on the Congo River.

An estimated 162 megawatts (MW) of hydropower is expected to be generated by upgrading Inga II's turbine 5, which when combined with the 78 MW of hydropower from the Mwadingusha facility, will give Kamoa-Kakula priority access to a combined 240 MW of clean, renewable electricity.

Kamoa Copper and SNEL have commenced a technical assessment to define the scope of work and associated costs estimate. The work also will include upgrading of the terminal equipment on the Inga-Kolwezi transmission line to increase its transfer capacity by a minimum of 200 MW.

Consumer packaged goods cannabis company HEXO Corp. (TSX: HEXO, Forum) is expanding its global leadership team with the appointment of Valerie Malone as Chief Commercial Officer, effective September 6, 2021.

"We are thrilled to welcome Valerie to HEXO,” said HEXO CEO and co-founder Sebastien St-Louis. “Valerie will support HEXO’s future growth as we accelerate on the path towards becoming a top three global cannabis products company and continue to generate value for our shareholders. We look forward to adding her diverse experiences and perspectives to our executive team, as we continue to drive towards positive EPS.”

Valerie brings more than 20 years of experience managing businesses across different verticals including consumer packaged goods, technology and electronics, durable goods and consulting to her role at HEXO.

Valerie's vast leadership experience includes roles at organizations including PepsiCo Canada, Whirlpool Corporation, LG Electronics and Lixil, with responsibilities spanning from Vice-President of Marketing to General Manager and President.

Her success has been built through strategies rooted in data, analytics and consumer insights. Valerie comes well prepared to immediately make an impact with her in-depth knowledge of HEXO and its product brands.

As HEXO’s Chief Commercial Officer, Valerie will oversee the Marketing, Sales and Product Development groups with a focus on commercial strategy and development. The company also announces that HEXO’s Chief Development Officer, James McMillan will be departing from his role with the company.

“I would like to thank Jay for his dedication, professionalism and expertise during his time at HEXO,” said HEXO CEO and co-founder Sebastien St-Louis.

“Jay was an integral part of our early leadership at HEXO and has made significant contributions to the growth and success of the company including advancing our innovation platform and expanding our product portfolios. As employee #14 at HEXO, Jay also played a major role in both negotiating our preferred supplier agreement with Quebec and in building out our partnership with Molson Coors. I am grateful to Jay for being such a vital part of making HEXO what it is today.”

Meanwhile, medical company StageZero Life Sciences Ltd. (TSX: SZLS, Forum), a specialist in polymerase chain reaction (PCR) testing dedicated to the early detection of multiple disease states through whole blood, today announced its Q2 2021 financial results for the three months ended June 30, 2021 and provided an update on its business progress. The company generated $0.405 million in revenue from testing for the second quarter, compared with $0.063 million in the year-ago period. Net income for the quarter totalled $4.3 million (CAD). Adjusted EBITDA for the quarter totalled ($2.336 million). As of June 30, 2021, the Company had $4.2 million (CAD) in cash. For the full rundown, click here.

Finally, TAAT Lifestyle & Wellness Ltd. (CSE: TAAT, Forum) announced that its flagship product TAAT has gained distribution in seven new American states over the past two months. With the recent addition of Alabama, California, Florida, Michigan, and Mississippi, TAAT has been introduced to seven states over the past two months to include Georgia, as well as Illinois. The distribution of TAAT in these new markets complements the company’/s existing presence in Ohio, as well as its e-commerce operations allowing for TAAT to be purchased by the majority of smokers aged 21+ in the United States. Furthermore, TAAT is preparing for its first international launches in the United Kingdom and Ireland, pursuant to a $149,000 (CAD) purchase order from a wholesaler in London, UK.

Last week, we probed your thoughts on where you thought markets would be heading throughout the rest of the year and frankly, most of you who responded felt that the rest of 2021 would shape up to be like the past eight months …

… however, markets took a header this week after a few indexes broke records on both sides of the border. So now we wonder how your portfolios have weathered that storm. Let us know your thoughts by clicking the image below to cast your vote.

(Click image to vote.)

For previous editions of Buzz on the Bullboards: click here.

FULL DISCLOSURE: Datametrex AI Limited., PyroGenesis Canada Inc., and Extreme Vehicle Battery Technologies Corp. are clients of Stockhouse Publishing.

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