If you haven’t heard, the groundhog saw his shadow, and if the snowfall on the East and West coasts weren’t enough of an indication, it looks like winter may be with us for awhile still … along with COVID and its variants, which are still a big deal in the world today, including the media and markets.
Developer of the smart-enabled AcuVid COVID-19 Rapid Antigen Saliva Test and other progressive diagnostic and medical device technologies,
Therma Bright Inc. (TSX-V: THRM, Forum) announced this week that the Company has completed the US Clinical Performance Study's subject recruitment effort and awaits final RT-PCR results to match against each test subject's AcuVid COVID-19 Rapid Antigen Saliva Test result. Once the clinical data has been tabulated, the final results will be filed with the US Food & Drug Administration for Emergency Use Authorization (EUA) consideration.
In a news release, Therma Bright’s CEO, Rob Fia expressed appreciation toward the continued patience of his company’s clients, shareholders, and partners while the team awaits the final COVID-19 RT PCR tests from its clinic partner's labs.
The FDA regulates these types of scientific studies that are designed to develop evidence that support the safety and effectiveness of investigational medical devices and diagnostic tests very closely and he remains confident that the AcuVid US Clinical Performance Study will meet the EUA’s rigorous review. Once the Clinical Performance Study data is collected and tabulated, it will be submitted to the FDA.
“The relatively new ‘stealth Omicron’ variant, BA 2, has been in the news recently and although preliminary indications are that it is no more contagious or virulent than the original Omicron variant, it may become the dominant variant in certain countries in coming months. We are confident that our test will detect stealth Omicron and are currently confirming that with our partners.”
HEXO Corp. (TSX: HEXO, Forum) noted this week that it had received notification from The
Nasdaq Stock Market that it is not in compliance with the minimum bid price requirement in a Nasdaq Listing Rule for continued listing on the Nasdaq Capital Market, since the closing bid price for the Company’s common shares listed on Nasdaq was below $1.00 (USD) for 30 consecutive trading days. The listing rule requires the common shares to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810 provides that failure to meet such requirement exists if the deficiency continues for a period of 30 consecutive business days.
A provider of in-home monitoring and disease management services,
Quipt Home Medical Corp. (TSX-V: QIPT, Forum) released its financial and operational highlights for
Q4 2021 and fiscal year.
Revenue reached a record $102.4 million (USD) for the 2021 fiscal year, a 41% increase compared to 2020. Compared to fiscal year 2020, the company experienced organic growth of 10%. Recurring revenue as of fiscal year 2021 continues to be strong, exceeding 77% of total revenue. In Q4 2021, Quipt brought in $29.1 million in revenue, a 48% increase year-over-year. Compared to Q3 2021, the company experienced strong organic growth of 14%, excluding new acquisitions, in the fourth quarter. The company completed six acquisitions in the 2021 fiscal year, reaching 170,000 active patients, 19,000 referring physicians, and 76 locations throughout 15 US states. Quipt continued to advance its technology use and centralized intake processes, leading to a 157.2% increase in respiratory supply set-ups and deliveries compared to the previous year. By the end of 2021, Quipt reported $34.6 million cash on hand.
With increased cash flow, lower operating expenses, and decreased bad debt, 2021 marked a record year for the home health care company across the board.
“There is no question that Quipt is in the strongest position in the history of the company,” said CEO and chairman Greg Crawford.
Since the end of the 2021 fiscal year in September, Quipt has completed another three acquisitions: one in October, another in November, and
the acquisition of At Home Health Equipment in December 2021.
“We have the financial resources and operating expertise to leverage the scalable service intensive model we have,” he added, “and we expect to be extremely active on the acquisition front throughout 2022, focused on the growing need for at home clinical respiratory care.”
Making news in the tech space,
PyroGenesis Canada Inc. (TSX-V.PYR, Forum) designs, develops, manufactures, and commercializes advanced plasma processes and sustainable solutions.
The company has created proprietary, patented, and advanced plasma technologies that are being vetted and adopted by multiple multibillion-dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing.
PyroGenesis recently submitted a cost estimate for 36 plasma torches that are of interest to a potential client. “Client A” is a multi-billion-dollar international iron ore pellet producer whose name remains confidential for competitive reasons.
As mentioned
in a release, the client has committed to reducing its greenhouse gas emissions by ordering plasma torches for its production plants. PyroGenesis estimates that the 36 plasma torches will cost between $75 million (USD) and $95 million (USD). The estimate covers a broad range to prepare for uncertainties that will arise as the agreement progresses.
“What is important to take away from our announcement today, and others made in the recent past,” said PyroGenesis CEO P. Peter Pascali, “is not only that things are progressing as they should, and that we are conservatively ticking the boxes one by one, but the sheer magnitude of this opportunity for the company if we are successful.”
With the potential worldwide pellet production estimated at over $10 billion (USD), according to PyroGenesis, he believes that this order is a sign that it is “moving in the right direction with the right players.” The company has scheduled a factory acceptance test with “Client A” to be completed in the coming weeks.
BlackBerry Ltd. (TSX: BB, Forum) has agreed to sell all its non-core patent assets to Washington DC-based Catapult IP Innovations Inc. for
$600 million (USD).
The transaction, involving the sale of over 35,000 BlackBerry patents and related licensing assets, is believed to be the largest such underwritten deal of its kind. The patents that are essential to BlackBerry’s current core business operations are excluded from the transaction. BlackBerry will receive a license back to the patents being sold, primarily related to mobile devices, messaging, and wireless networking. The transaction will not impact customers’ use of BlackBerry’s products, solutions, or services.
BlackBerry will receive $450 million in cash and a promissory note for $150 million. Catapult’s principal funding for the acquisition will be a $450 million senior secured term loan. It has received the first $400 million of conditional commitments from a lending syndicate led by Third Eye Capital which includes a Canadian pension fund. The promissory note will be secured by a second right on the assets of the purchaser and will be inferior to the rights of the senior lending syndicate.
The promissory note will also be payable in five equal annual installments of $30 million in cash commencing on the third anniversary of the closing date, provided that the senior loan is not in default.
Data intelligence company
Fobi AI Inc. (TSX-V: FOBI, Forum) has signed a marketing deal with
Abbot’s Butcher, a premium plant-based protein company. The company will outfit Abbot’s with its Qples digital coupon platform and it will generate revenue through an ongoing per-coupon revenue model.
Abbot’s has expanded into over 800 retail and foodservice locations across the US, including Whole Foods Market.
“We are excited to partner with Qples by Fobi and to launch our first-ever digital coupons at Abbot’s Butcher. This will allow us to give back to our customers and drive trials for new customers,” stated Kristi Fanning, Abbot’s’ Marketing Director.
“This deal with Abbot’s Butcher continues our string of success with CPG brands, however, it is also very exciting as we are beginning to see success and expect exponential growth in our business in the health food industry,” added Rob Anson, Fobi’s CEO.
Taking a look at who is making news in the mining sector,
Canada Nickel Company Inc. (TSXV:CNC, OTCQX:CNIKF, Forum) released
assay results from its Mahaffy, Dargavel, Kingsmill, and MacDiarmid properties, and provided an update on drilling and corporate activities.
Highlights:
- First hole in recently acquired properties intersects 480 metres of dunite at Deloro using a sixth drill rig acquired at start of year
- All nine holes from Dargavel, Mahaffy, MacDiarmid, Kingsmill intersected multi-hundred metre intersections of mineralization with best interval from first hole at Dargavel of 162 metres of 0.30% nickel including 0.34% nickel over 28.5 metres
- Completion of Crawford feasibility study expected by fourth quarter of 2022 and formal start of permitting process in first quarter of 2022
- Management additions in engineering and environment to support Company efforts to advance Crawford through feasibility and subsequent steps towards development
The company’s Chair and CEO, Mark Selby called this a successful start to the new year - drilling of Deloro - the first of the thirteen targets acquired at end of last year and the first step in confirming the potential of the Timmins Nickel District.
“After two very successful years in 2020 and 2021, the year 2022 sets the stage for Canada Nickel to move to the next level with the formal launch of Crawford permitting this quarter, an updated resource next quarter, and a feasibility study expected to be completed by the fourth quarter, which is just over three years from our Crawford discovery,” he said. “I am also pleased to expand our capabilities with the latest additions to our team. Canada Nickel is well-positioned not only for success this year but for continued success in 2023 and beyond as we advance Crawford towards production.”
Finally, mining exploration and development company
Tantalex Resources Corporation (CSE: TTX, Forum) has been grabbing investor attention with its work to acquire, explore and develop Lithium and Tantalum ore and other strategic metals in the Democratic Republic of Congo.
This week, TTX provided details on the closing of its non-brokered private placement for gross proceeds of
$500,000 (CAD). The offering consists of units comprised of one common share in the capital of the company at a price of $0.10 and one half transferable common share purchase warrant. Each whole Warrant shall entitle the holder thereof to acquire one additional Share in the capital of the company at a price of $0.15 per warrant share.The gross proceeds will be for general working capital purposes.
We cap off this edition of Buzz on the Bullboards with our weekly Investor Pulse Poll Survey, there have been reports that indicate we are coming out of “the pandemic slump” and given how markets have been moving upward following recent volatility, good times could be ahead. Do you agree? Is now a good time to be making investment moves? Let us know your thoughts by casting your vote in the survey below.
(Click image to vote.)
Looking at last week’s survey … the results are something to consider next time a company touts its environmental, social, and governance (ESG) standards ….
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FULL DISCLOSURE: PyroGenesis Canada and Quipt Home Medical are clients of Stockhouse Publishing.