(Image via HEXO Corp.)
It can be hard to keep track of the news cycle, but you can bet the markets are going to be more volatile. That has been the case this autumn trading season so far, and October does not seem to be letting up anytime soon.
The Stockhouse Bullboards have been as full as ever of heated discussions this week. The most popular sectors saw investors debate short-term swings, long-term swings, and whether some small cap offerings were gold mines … or pitfalls.
In this week’s review of the action, we dive into the most-viewed companies and see three very different communities: one uncertain, one thoughtful, and one that is extremely divided.
TAAT Lifestyle & Wellness Ltd. (CSE: TAAT, Forum) recently released
its financial results for the three months ended July 31, 2021.
Working in the tobacco-free and nicotine-free alternative market, Chief Executive Officer Setti Coscarella commented on the results.
“Our growth has accelerated this quarter as we continued to build the popularity of TAAT among smokers aged 21+. We have undertaken aggressive strategies to market TAAT in this consumer segment in order to sustain and grow interest in the United States by continuing to add stores to expand our sales pipeline. Establishing a reputable and well-known brand comes with the long-term benefit of laying the groundwork to introduce TAAT to new global markets.”
Key financial highlights:
- Gross revenue grew to an all-time high of $1,305,358 in Q3 2021, an increase of 1,956% from the same period in the prior year, and an increase of 88.77% from the previous quarter
- Gross profit for Q3 2021 was $781,226 with a gross profit margin of 59.84%, an increase from the gross profit margin of 52.58% in the previous quarter
- TAAT Common Shares remained part of the CSE Composite Index and its CSE25 subset of the 25 largest companies by market capitalization
- $10,174,001 in working capital
During the three-month period ended July 31, 2021, the company incurred a net loss of $7.74 million versus $3.75 million in 2020. The increase in net loss was mainly attributable to increased marketing efforts relating to the advertising of its product in sporting events and in Europe offset by a number of non-cash items, including a decrease in share-based payments of $779,000.
Progressive medical device technology company
Therma Bright Inc. (TSX-V: THRM, Forum) has made progress on its
AcuVid COVID-19 Rapid Saliva Antigen Test in recent months.
In July, Therma Bright announced that it had applied for EUA approval from the US FDA to market the antigen test.
In the meantime, the company has ordered enough materials to manufacture the first batch of AcuVid tests in the United States. Therma Bright is working on securing manufacturing sites in other countries as it anticipates high demand for the test.
Therma Bright's CEO, Rob Fia commented on the company’s progress,
“We continue to build manufacturing capacity for our test in anticipation of approval so that we can meet the expected huge demand for rapid testing,” he said.
In order to effectively stop the transmission of COVID-19, the Center for Disease Control and Prevention (CDC) recommends frequent rapid antigen testing in conjunction with masking and social distancing, especially in congregant settings. In September, the CDC warned that individuals should expect rapid test shortages as the demand for these tests grows.
Therma Bright continues to advance its AcuVid rapid test by identifying trial sites for the test kit. These trial results will aid the company as it seeks approval to market the tests for at-home use.
“Our saliva-based test is easier to use and less intrusive than nasal swab-based tests and is ideally suited for rapid testing for all subjects,” Fia remarked.
The company is working on securing initial orders from potential customers as it waits for regulatory approval.
HEXO Corp. (TSX: HEXO, Forum) has given more details on its major joint venture with
Molson Coors Beverage Company (NYSE: TAP) via its subsidiary
HEXO USA Inc. around the expansion of Veryvell, a line of
hemp-derived CBD and adaptogen beverages.
Following a successful Colorado launch in 2020, Truss CBD USA now expands Veryvell semi-nationally to be available in 17 states where people can now get Veryvell delivered right to their door via direct-to-consumer online purchase. Truss CBD USA general manager, Jane Armstrong Hockman called Veryvell a truly remarkable product poised at the forefront of an emerging category of beverages.
“Truss successfully combined the extensive experience of Molson Coors and Hexo to create a great tasting, high-quality functional beverage line that resonated well with the Colorado consumer. We are thrilled to now provide individuals across the US the opportunity to enjoy Veryvell as much as we do.”
Molson Coors meanwhile wants to expand beyond beer and its president, Pete Marino noted that developing partnerships and launching new products is the way to do it.
“This demonstrates the progress we are making to transform Molson Coors into a true beverage company.”
Designed to meet you in every mood, the Veryvell line offers non-alcohol, adaptogenic, hemp-derived CBD sparkling waters and unflavored beverage drops. All Veryvell products use broad spectrum hemp and contain <0.3% THC.
That brings us to this week’s Investor Pulse Poll question – with cannabis stocks of all shapes, sizes, and offerings, from the raw product to CBD edibles and psychedelics, where do you see this market heading, when looking through the performance of your own portfolio? Or are you going to adapt your portfolio to include these types of offerings? Let us know your thoughts by clicking the image below.
(Click image to vote.)
The question was inspired by last week’s question, which revolved around the volatile tech sector. It has jolted both the TSX and NASDAQ of late with wild swings, but perhaps most of you didn’t notice too much as it seems a majority of those who responded don’t even have any tech-related stocks.
Meanwhile in the tech sector, developer and provider
Quarterhill Inc. (TSX:QTRH, Forum) announced recently that its subsidiary, patent monetization company
Wi-LAN Inc. has entered into a license agreement with
Motorola Mobility LLC. The licensed patents relate to wireless technology. What could come of this? Stay tuned for more in the future.
Software-as-a-service (SaaS) provider
Lightspeed POS Inc. (T.LSPD, LGHEF, Forum) is currently fending off a number of investigations from law firms, but just a few days ago the sun was shining a bit brighter on this company when it closed its acquisition of
Ecwid, a global eCommerce platform.
Lightspeed finalized the acquisition for approximately $163.6 million in cash and the issuance of 4,842,674 subordinate voting shares of Lightspeed.
Ecwid is a leading choice for small business merchants to easily set up an online store. Once integrated, the combination of Lightspeed and Ecwid will help merchants reach shoppers on social media or digital marketplaces. Ecwid's recent partnership with
TikTok will also help Lightspeed's merchants seamlessly access core functions of TikTok For Business Ads Manager without needing to leave the platform.
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Vancouver, BC-based
NexOptic Technology Corp.’s (TSX-V: NXO, Forum) is a developer of patented and patent pending Artificial Intelligence (AI) and recently made headlined on significant tangible progress the team made in the development, refinement, and deployment of new AI technologies, adding to its revolutionary AI imaging pipeline,
ALIIS.
ALIIS stands for
All Light Intelligent Imaging Solutions and is a machine-learning AI suite providing instant enhancement to images and videos in the areas of edge processing, shutter speed, resolution and sharpness, image-noise and motion-blur, and image colour and detail. These patented and patent pending solutions can be integrated with imaging devices such as smartphones, smart security cameras, Internet of Things (IoT) devices, automotive platforms, medical imaging technologies, DSLR cameras and more.
New Found Gold Corp. (TSX-V: NFG, Forum) released assay results from eight step-out diamond drill holes designed to expand the high-grade gold mineralization at the Golden Joint Zone, a recently made discovery located approximately 1km north of the Keats Zone and approximately 850m south of the Lotto Zone. These holes were drilled as part of the Company's ongoing 200,000m diamond drill program at its 100%-owned Queensway Project, located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
For full results and pictures from the project, click
here.
VP of Exploration for New Found, Melissa Render, commented,
“At such an early stage of target advancement it is extremely encouraging to see such robust grades, continuity and strong vein development in two distinct zones at the Golden Joint. This area is of high priority, and it will be both exciting and interesting to see how continued drilling may connect the multitude of mineralized trends through this 2km length of the Appleton Fault Zone.”
Canadian mining company
Ivanhoe Mines Ltd. (TSX: IVN, Forum) announced that the ramp-up of its
Phase 1 concentrator plant at Kamoa-Kakula’s 3.8 million-tonne-per-annum (Mtpa) concentrator plant continues to advance ahead of schedule, with 319,795 tonnes of ore milled in September, exceeding the monthly design run rate of 316,667 tonnes at an average feed grade of 6.0% copper.
A total of 16,010 tonnes of copper in concentrate were produced (filtered product) and a total of 16,503 tonnes floated in the reporting month ended September 20th - Kamoa Copper's fourth full month of production - establishing a new monthly record and nearing the Phase 1 target output of 16,666 tonnes per month, or 200,000 tonnes per annum.
The 3.8 million-tonne-per-year concentrator plant is the first to be constructed on the property, with construction of a second (Phase 2) plant underway and progressing well.
Finally this week, we look at
HPQ Silicon Resources Inc. (TSX-V: HPQ, Forum), who received approval from the TSX Venture Exchange to proceed with its
new green hydrogen technology.
EBH2 Systems SA, a Swiss company, has developed a low-cost electrolysis technology that can extract green hydrogen from virtually any water source, including saltwater.
EBH2 Green Hydrogen Reactors (EBH2 GHR) are scalable, adaptable, and can produce the quantities of Green Hydrogen fuel necessary to power everything from transportation, homes, power plants, and industrial facilities. Green hydrogen could provide up to 24% of the world’s energy needs by 2050, according to HPQ, cutting greenhouse gas emissions by a third and generating annual revenues of $2.5 trillion (USD). After many years of development, EBH2 now has an EBH2 GHR model ready for commercial deployment.
EBH2 has granted HPQ silicon a perpetual worldwide license whereby EBH2 Green Hydrogen Reactors are incorporated into any HPQ technologies. Now, with TSXV approval, the Quebec-based silicon solutions company and EBH2 can focus on the next milestone: third-party validation of the EBH2 technology.
President and CEO of HPQ Silicon, Bernard Tourillon, commented on the partnership,
“We are getting closer to the point where EBH2 technology will be validated and HPQ will be incredibly well positioned to make green silicon materials all the while opening up new and massive addressable markets for a system that can produce cheaply green hydrogen, on demand.”
Once the technology has been validated by a third party, HPQ will complete its payment and the two companies will create a new joint venture company. The new company will market, sell, and service EBH2 systems and products in North America.
For previous editions of Buzz on the Bullboards:
click here.