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This Month's Tiny Gems - April 2021
AmpliTech Group Inc. (NASDAQ: AMPG)
CNS Pharmaceuticals Inc. (NASDAQ: CNSP)
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR)
Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FSE: E4X2)
Hollywall Entertainment Inc. (OTC: HWAL)
Ideanomics Inc. (NASDAQ: IDEX)
Mohawk Group Holdings Inc. (NASDAQ: MWK)
Net Element (NASDAQ: NETE)
Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF)
Pressure BioSciences Inc. (PBIO)
SRAX Inc. (NASDAQ: SRAX)
TAAT Lifestyle & Wellness Ltd. (CSE: TAAT) (OTCQB: TOBAF)
Uranium Energy Corp. (NYSE American: UEC)
VistaGen Therapeutics Inc. (NASDAQ: VTGN)
Vivos Therapeutics Inc. (NASDAQ: VVOS)
XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT)
Uranium Energy Corp. (NYSE American: UEC)
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), based in Lakewood, Colorado, is the country's largest producer of uranium and the leading conventional producer of vanadium, both designated by the U.S. government as critical minerals. Energy Fuels is also making progress entering the rare earth element production business.
As the leading U.S. diversified uranium miner, Energy Fuels' uranium production portfolio stands apart in the world. Energy Fuels has more uranium production facilities, more production capacity, and more in-ground resources than any other company in the United States. In fact, the company's assets have produced over one-third of all U.S. uranium over the past 15 years and is uniquely positioned to increase production to meet new demand.
AmpliTech Group Inc. (NASDAQ: AMPG)
AmpliTech Group Inc. (NASDAQ: AMPG) (NASDAQ: AMPGW) designs, develops and manufactures custom radio frequency (RF) components for the commercial, SATCOM, space and military markets. In addition to developing new products for the 5G/6G wireless ecosystem and infrastructure, the company has placed focus on the development of leading-edge solutions in quantum computing in support of U.S. efforts to reach the coveted position of quantum supremacy. The company maintains a commitment to R&D that allows it to remain at the forefront of emerging technologies. AmpliTech aims to use its advanced techniques and IP to provide tomorrow's technology today, improving everyone's quality of life.
AmpliTech was founded by Fawad Maqbool in 2002 to fill the need for affordable, high-quality, customized and state-of-the-art amplifiers and components. Headquartered in Bohemia, New York, the company currently has distributors and representatives available worldwide.
Product Portfolio
AmpliTech's mission is to develop quality, state-of-the-art microwave amplifiers by leveraging its experience, proven technical expertise and superior design heritage. The company's products cover a frequency range from 50 kHz to 44 GHz, with plans to eventually offer designs up to 100 GHz. Its current catalog includes:
Amplifiers
Passive Components
All the company's products come with a satisfaction guarantee, as the company is fully committed to providing only high-quality products free from manufacturing and material defects and guaranteed to perform according to applicable specifications.
Consulting Services
Leveraging more than 100 years of combined experience in microwave systems and component design ranging from active components to passive devices, AmpliTech also provides valuable consulting services and technical assistance to its customers.
With capabilities ranging from initial design to final manufacturing and delivery, the company's team also offers project management services and advice on both technical aspects and how to handle business issues such as resource allocation, customer contact, budget restraints, time limits and more.
Other key benefits of AmpliTech consulting services that can give its customers a definitive edge include:
Market Outlook
The global microwave devices market was valued at $7.44 billion in 2019 and is expected to grow at a CAGR of 3.23% and reach $9 billion by 2025 (https://nnw.fm/zqMEk). Governmental expenditures in the defense and space communications sectors are expected to expand the opportunities for growth within the industry.
AmpliTech continues to follow its strategy of identifying key elements in today's technological revolution. It is leveraging its technical expertise and experience to align product portfolios and IP with innovation (https://nnw.fm/rVzxX). The company has plans to be a catalyst in the enhancement, development and distribution of breakthroughs in the following sizeable markets:
Management Team
Fawad Maqbool is the Founder, President, CEO and CTO of AmpliTech Group Inc. He has been in the microwave industry for over 30 years. Mr. Maqbool spent 14 years developing state-of-the-art amplifiers and components for MITEQ Inc., a leading microwave and communications equipment supplier. He founded AmpliComm in 2000, which was subsequently acquired by Aeroflex Inc. Mr. Maqbool has management and design experience, which has led to the development of microwave technology on a commercial and military level. He holds a B.S.E.E in Microwave Engineering and a B.S.E.E in Bio-Medical Engineering from CUNY and an M.S.E.E from the Polytechnic University of New York.
Louisa Sanfratello is the company's CFO. She is a Certified Public Accountant (CPA) and has worked in various industries since 1998. During this time, she held roles as an accountant for charities and schools, consisting of the preparation of official financial documents and day-to-day financial management requirements. Ms. Sanfratello began her professional career in 1987 at Holtz, Rubinstein & Co., a public accounting firm. She gathered two years of experience there before gaining her CPA and taking on more challenging roles.
Brandon Worster is the company's Director of Engineering. He joined AmpliTech at the end of 2019, bringing over 14 years of design and management experience. His specialty is Low Noise and Medium Power Amplifiers, but Mr. Worster also has vast experience with various systems, including RF/Microwave devices and systems. He holds a master's degree in electrical engineering and is an adjunct professor at Farmingdale University in New York.
John P. Pastore is AmpliTech's Director of Sales. He has worked in the microwave industry for more than 35 years, including time with some of the industry's leading names. Mr. Pastore is a hands-on professional who has experience that spans over 20 years with progressive roles that blend technical, manufacturing, customer service and management expertise. He is an extremely valuable asset to the company as it moves forward due to his business savvy approach and deep industry knowledge. He has a B.S. in Business Management.
M. Syed handles Technical Sales and is the company's Director of IT. He is an electrical engineer with more than 10 years of business experience. Since 2011, he has led Technical Sales for AmpliTech, and he recently became the President and CEO of his own company while also serving as Chief Technical Sales consultant for numerous other companies and groups in New York City. Mr. Syed has been in the IT industry for 25 years. He is a Computer Engineer by trade and a Certified Netware Engineer and Microsoft Certified Systems Engineer.
CNS Pharmaceuticals Inc. (NASDAQ: CNSP)
CNS Pharmaceuticals Inc. (NASDAQ: CNSP) is a clinical stage biotechnology company specializing in the development of novel treatments for primary and metastatic cancers of the brain and central nervous system.
The company was founded in 2017 and is headquartered in Houston, Texas.
Organ Targeted Therapeutics
The company's lead drug candidate, Berubicin, is proposed for the treatment of glioblastoma multiforme ("GBM"), an aggressive and incurable form of brain cancer. Berubicin also has potential to treat other central nervous system malignancies. Based on limited clinical data, Berubicin appears to be the first anthracycline to cross the blood brain barrier in the adult brain, and it was the subject of a successful Phase 1 study which found the MDT and produced efficacy data as well.
CNS holds a worldwide exclusive license to the Berubicin chemical compound. The company has acquired all requisite data and know-how from Reata Pharmaceuticals Inc. related to a completed Phase I clinical trial of Berubicin in malignant brain tumors. In this trial, 44% of patients experienced a statistically significant improvement in clinical benefit. In 2017, CNS entered into a collaboration and asset purchase agreement with Reata.
CNS intends to explore the potential of Berubicin to treat other diseases, including pancreatic and ovarian cancers and lymphoma. The company is also examining plans to develop combination therapies that include Berubicin.
CNS estimates that more than $25 million in private capital and grants were invested in Berubicin prior to the company's $9.8 million IPO in November 2019.
CNS intends to submit an IND for Berubicin during the fourth quarter of 2020 and expects to commence a Phase II clinical trial of Berubicin for the treatment of GBM in the U.S. in Q1 2021. A sub-licensee partner was awarded a $6 million EU/Polish National Center for Research and Development grant to undertake a Phase II trial of Berubicin in adults and a first-ever Phase I trial in pediatric GBM patients in Poland in 2021.
The company's second drug candidate, WP1244, is a novel DNA binding agent licensed from the MD Anderson Cancer Center. In preclinical studies, WP1244 proved to be 500-times more potent than the chemotherapeutic agent, daunorubicin, in inhibiting tumor cell proliferation. The company has entered into a sponsored research agreement with the MD Anderson Cancer Center to further the development of WP1244.
CNS Pharmaceuticals recently engaged U.S.-based Pharmaceutics International Inc. and Italian BSP Pharmaceuticals SpA for the production of the Berubicin drug product. The company has implemented a dual-track manufacturing strategy to mitigate COVID-19-related risks, diversify its supply chain and provide for localized availability of Berubicin. CNS has already completed synthesis of Berubicin's active pharmaceutical ingredient (API) and has shipped the API to both manufacturers in order to prepare an injectable form of Berubicin for clinical use.
Global Brain Tumor Therapeutics Market
The high recurrence rate of malignant brain tumors is due to reappearance of focal masses, indicating that a sub-population of tumor cells in these cancers may be insensitive to current therapies and may be responsible for reinitiating tumor growth. This necessitates the development of newer drugs in the market that demonstrate greater efficacy in treating such aggressive cancers.
A global increase in neurological disorders has placed increased attention on cancers of the brain over the past decade. Neurological disorders are becoming one of the most prevalent types of disorders, due to longer life expectancy, greater exposure to infection and an increasingly sedentary lifestyle. Because few treatments for primary and metastatic cancers of the brain exist, costs are high and have acted as a restraint for the brain tumor therapeutics market.
Despite progress in surgery, radiotherapy and chemotherapeutic strategies, effective treatments for brain cancer are limited by a lack of specific therapies for the brain and the difficulty in transporting therapeutic compounds across the blood brain barrier. Therefore, there is a significant need for novel and effective therapeutic drugs and strategies that prolong survival and improve quality of life for brain tumor patients.
Several companies are making significant investments into R&D, which is expected to bring more treatment options to the market in the near future. Industry reports consistently project continued growth in the market.
One report estimates that the global brain tumor therapeutics market will reach a valuation of $2.74 billion in 2023, with the market expected to register a CAGR of 11% during the forecast period from 2018 to 2023. Another report projects that the global brain tumor therapeutics market will reach $3.4 billion by 2025, up from $2.25 billion in 2019 (http://nnw.fm/eDUjp).
Management Team
John M. Climaco is the CEO of CNS Pharmaceuticals. For 15 years, Climaco has served in leadership roles for a variety of health care companies. Recently, Climaco served as the Executive Vice President of Perma-Fix Medical S.A, where he managed the development of a novel method to produce Technitium-99. Climaco also served as President and CEO of Axial Biotech Inc., a DNA diagnostics company. In the process of taking Axial from inception to product development to commercialization, Climaco forged strategic partnerships with Medtronic, Johnson & Johnson and Smith & Nephew.
Christopher Downs, CPA, is the company's Chief Financial Officer. Downs previously served as Interim Chief Financial Officer and Executive Vice President of InfuSystem Holdings Inc. (NYSE: INFU), a supplier of infusion services to oncologists in the United States. Downs holds a Bachelor of Science from the United States Military Academy at West Point, an MBA from Columbia Business School and a Master of Science in Accounting from the University of Houston-Clear Lake.
Dr. Donald Picker is the Chief Scientific Officer of CNS. Picker has over 35 years of drug development experience. Prior to joining CNS, Picker worked at Johnson Matthey, where he was responsible for the development of Carboplatin, one of the world's leading cancer drugs, which was acquired by Bristol-Myers Squibb with annual sales of over $500 million. In addition, he oversaw the development of Satraplatin and Picoplatin, third-generation platinum drugs currently in late-stage clinical development.
Sandra L. Silberman, M.D., Ph.D., is the Chief Medical Officer of CNS Pharmaceuticals. Silberman is a hematologist/oncologist who earned her B.A., Sc.M. and Ph.D. from the Johns Hopkins University School of Arts and Sciences, School of Public Health and School of Medicine, respectively, and her M.D. from Cornell University Medical College. She then completed both a clinical fellowship in hematology/oncology and a research fellowship in tumor immunology at the Brigham & Women's Hospital and the Dana Farber Cancer Institute in Boston, Massachusetts. Silberman has played key roles in the development of many drugs, including Gleevec(TM), for which she led the global clinical development at Novartis. Silberman advanced several original, proprietary compounds into Phases I through III during her work with leading biopharmaceutical companies, including Bristol-Myers Squibb, AstraZeneca, Imclone and Roche.
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR)
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) , based in Lakewood, Colorado, is the country's largest producer of uranium and the leading conventional producer of vanadium, both designated by the U.S. government as critical minerals. Energy Fuels is also making progress entering the rare earth element production business.
As the leading U.S. diversified uranium miner, Energy Fuels' uranium production portfolio stands apart in the world. Energy Fuels has more uranium production facilities, more production capacity, and more in-ground resources than any other company in the United States. In fact, the company's assets have produced over one-third of all U.S. uranium over the past 15 years and is uniquely positioned to increase production to meet new demand.
Energy Fuels utilizes both conventional and in-situ recovery ("ISR") technology to produce uranium from three strategic facilities:
In addition to being the largest uranium miner in the U.S., Energy Fuels' overall portfolio also includes a pipeline of high-quality, large-scale exploration and development projects that are permitted or are in advanced stages of permitting, as well as an industry-leading U.S. NI 43-101 Mineral Resource portfolio.
FACTOID: Energy Fuels has led industry efforts over the past two-plus years to get the U.S. government to recognize the importance of domestically produced uranium, including the 2018 – 2019 Uranium Section 232, the ongoing Nuclear Fuel Working Group and the recently announced creation of the U.S. strategic uranium reserve. The U.S. is by far the largest consumer of uranium in the world, yet we import almost all of our requirements; Energy Fuels aims to change that.
Nuclear Market Potential
Multiple studies in top scientific journals have shown that nuclear power is cleanest and most economical way to produce reliable electricity as worldwide demand continues to soar. Nuclear power is presently the only available and affordable low-carbon power source that can meet both current and future baseload electricity demands while simultaneously reducing air pollution and mitigating climate change. U.S. nuclear power plants currently generate nearly 20% of the nation's electricity overall and 55% of its carbon‐free electricity and even a modest increase in electricity demand would require significant new nuclear capacity by 2025. According to the World Nuclear Association (WNA), there are currently 441 operable reactors, with another 54 units under construction and 439 in various stages of planning; in addition, the WNA has identified a potentially massive supply/demand gap through 2040 of 1 billion pounds. These factors among others are expected to significantly drive increased demand for uranium.
Reasons Nuclear is Gaining Traction
No. 1 U.S. Producer of Vanadium in 2019
Energy Fuels also produces vanadium as a byproduct of uranium production. Vanadium is designated a critical mineral, essential to the economic and national security of the United States. Energy Fuels was the largest producer of vanadium in the U.S. in 2019, and has significant high-grade, in-ground vanadium resources, as well as a separate high-purity vanadium production circuit at their White Mesa Mill, which is also the only conventional vanadium mill in the country. Crucial for use in the steel, aerospace, and chemical industries, vanadium plays a critical role in the production of high-strength and light-weight metallic alloys and demand is expected to increase across the globe.
Energy Fuels has several fully permitted and developed standby mines containing large quantities of high-grade vanadium, along with uranium, including:
Vanadium has also gained increased attention as a catalyst in next-generation high-capacity, "community-scale" batteries used for energy storage generated from renewable sources. Demand is only expected to grow as this market expands. With recent upgrades in its vanadium production operations, in 2019 Energy Fuels produced commercial levels of the highest purity (99.7%) vanadium in the mill's history and can rapidly adjust production to meet volatile market conditions. Energy Fuels is one of the very few known avenues that provides investors access the vanadium market.
Rare Earth Element (REE) Production, Alternate Feed Material Recycling, and Land Cleanup
The White Mesa Mill also provides the company with diverse cashflow generating opportunities. Security of supply for Rare Earth Elements (REEs) supporting U.S. military and defense requirements is a major issue today. Energy Fuels has been approached by a number of entities, including the U.S. government, inquiring about the potential to process certain REEs at the mill. The White Mesa Mill is currently licensed to process certain REEs, including tantalum and niobium. And, early indications are that the mill can be utilized to produce several other REEs. The White Mesa Mill is also the only facility in North America licensed and capable of recycling alternate feed materials (AFMs). AFMs are essentially low-level waste materials that contain recoverable quantities of natural (or unenriched) uranium. The Company typically generates between $5 and $15 million per year from AFM recycling. Finally, Energy Fuels is seeking to become involved in the cleanup of legacy Cold War era uranium mines in the Four Corners region of the U.S., including on the Navajo Nation. The U.S. Environmental Protection Agency (EPA) has access to over $1.5 billion for the cleanup of just a fraction of the sites on the Navajo Nation. The White Mesa Mill is fully licensed to receive much of this material, we are one of the government's lowest cost options, and we have the ability to recycle the material and produce usable uranium from it.
Management Team
Mark S. Chalmers, President and CEO
Mark S. Chalmers is the president and chief executive officer of Energy Fuels, a position he has held since Feb. 1, 2018, following his role as chief operating officer of Energy Fuels from July 1, 2016 – Jan. 31, 2018. From 2011 to 2015, Chalmers served as executive general manager of Production for Paladin Energy Ltd., a uranium producer with assets in Australia and Africa, including the Langer Heinrich and Kayelekera mines where, as head of operations, he oversaw sustained, significant increases in production while reducing operating costs. He also possesses extensive experience in in situ recovery ("ISR") uranium production, including management of the Beverley Uranium Mine owned by General Atomics (Australia), and the Highland mine owned by Cameco Corporation (USA). Chalmers has also consulted to several of the largest players in the uranium supply sector, including BHP Billiton, Rio Tinto, and Marubeni, and until recently served as the chair of the Australian Uranium Council, a position he held for 10 years. Chalmers is a registered professional engineer and holds a Bachelor of Science in Mining Engineering from the University of Arizona.
W. Paul Goranson, COO
W. Paul Goranson is the chief operating officer for Energy Fuels. Goranson has 30 years of mining, processing and regulatory experience in the uranium extraction industry that includes both conventional and in-situ recovery ("ISR") mining, and he is a registered professional engineer. Prior to the acquisition by Energy Fuels of Uranerz Energy Corporation, Goranson served as president, chief operating officer and director for Uranerz, where he was responsible for operations of the Nichols Ranch ISR Uranium Project. In addition to those duties, he also managed uranium marketing, regulatory and government affairs, exploration and land. Prior to joining Uranerz, Goranson served as president of Cameco Resources, where he led the operations at the Smith Ranch-Highland, Crow Butte and North Butte ISR uranium recovery facilities. Goranson also served as vice president of Mesteña Uranium LLC, and he has served in senior positions with Rio Algom Mining, (a subsidiary of BHP Billiton), and Uranium Resource Inc. Goranson has a Bachelor of Science in Natural Gas Engineering from Texas A&I University, and a Master of Science in Environmental Engineering from Texas A&M University-Kingsville.
David C. Frydenlund, CFO, General Counsel, Corporate Secretary
David C. Frydenlund is chief financial officer, general counsel, and corporate secretary of Energy Fuels. His responsibilities include oversight of all legal matters relating to the company's activities. His expertise extends to NRC, EPA, state and federal regulatory and environmental laws and regulations. From 1997 to 2012, Frydenlund was vice president of regulatory affairs, general counsel and corporate secretary of Denison Mines Corp., and its predecessor International Uranium Corporation ("IUC"). He also served as a director of IUC from 1997 to 2006 and CFO of IUC from 2000 to 2005. From 1996 to 1997, Frydenlund was vice president of the Lundin Group of international public mining and oil and gas companies, and prior thereto was a partner with the Vancouver law firm of Ladner Downs (now Borden Ladner Gervais) where his practice focused on corporate, securities and international mining transactions law. Frydenlund holds a bachelor's degree in business and economics from Simon Fraser University, a master's degree in economics and finance from the University of Chicago and a law degree from the University of Toronto.
Curtis H. Moore, Vice President of Marketing and Corporate Development
Curtis H. Moore is the vice president of Marketing and Corporate Development for Energy Fuels. He oversees product marketing for Energy Fuels, and is closely involved in mergers & acquisitions, investor relations, public relations, and corporate legal. He has been with Energy Fuels for over 12 years, holding various roles of increasing responsibility. Prior to joining Energy Fuels, Moore worked in multi-family real estate development, government relations and public affairs, production homebuilding, and private law practice. Moore is a licensed attorney in the State of Colorado. He holds Juris Doctor and MBA degrees from the University of Colorado at Boulder, and a Bachelor of Arts dual degree in Economics-Government from Claremont McKenna College in Claremont, California.
Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FSE: E4X2)
Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) ("Excellon" or the "Company") is a silver and base metals producer with precious metal exploration and development projects in Mexico, Idaho and Germany. Since being founded in 1987, the Company has been advancing a precious metals growth pipeline focused on creating wealth for its stakeholders by realizing strategic opportunities in the silver and gold markets.
Excellon is an active and influential member of the Mining Association of Canada ("MAC"). The Company implements a practical, best-in-class management system that addresses the safety, health, security, environmental and community aspects of its operations, per the UN Sustainable Development Goals. On each project, the Company incorporates MAC's Towards Sustainable Mining Initiatives and other world-class best practices with the objective of constantly improving its safety systems, training and hazard recognition.
Precious Metals Growth Pipeline
The Company is advancing a precious metals growth pipeline that includes: Platosa, Mexico's highest-grade silver mine since production commenced in 2005; Kilgore, a high-quality gold development project in Idaho with strong economics and significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany, with 750 years of mining history and no modern exploration.
Maintaining and developing this pipeline presents the Company with enhanced opportunities in the expanding precious metals market, which was valued at $193.3 billion worldwide in 2020 (https://nnw.fm/6nv5f). This market is expected to increase at a compound annual growth rate ("CAGR") of 9% from 2020 to 2027, resulting in an estimated $362.1 billion market size in 2027 (https://nnw.fm/6nv5f). Global market demand was calculated at 22,581.8 tons in 2020 and is expected to grow to 36,501.1 tons in 2027, achieving a CAGR of 3.5% (https://nnw.fm/6nv5f).
Excellon reported strong results in terms of both production and average pricing at the end of Q4 2020, including:
Compared to Q4 2019, Excellon's silver production increased by 37%, lead increased by 32% and zinc increased by 19% in Q4 2020 (https://nnw.fm/4C0P7).
Platosa Mine – Silver, Lead, Zinc – Production, Development & Exploration
The Platosa Mine is located 5 km north of Bermejillo, Durango, Mexico, on a 14,000-hectare property. The mine commenced production in 2005 as an underground operation and is 100% owned and operated by Excellon. The Company is mining massive sulfide ores rich in silver, lead and zinc from a series flat-lying massive sulfide bodies (mantos) in a carbonate replacement deposit system. Historically, the mining method was a modified room and pillar method, which transitioned to cut-and-fill in recent years and overhand-cut-and-bench in 2020. The ore produced from the mine is transported 200 km south for processing at the Company's 100% owned Miguel Auza mill.
Kilgore Project – Gold – Exploration & Resource Growth
The Kilgore Project is located in Clark County, situated in eastern Idaho in the United States. The project area is 100% owned and operated by Excellon. While still in the exploration and development phase, the primary target on the 13,627-acre site is an epithermal gold system. The property itself has historical mining that dates back to the 1930s, with modern mineral exploration beginning in the 1980s. The Kilgore Project displays characteristics similar to Kinross Gold's Round Mountain Mine, which has produced more than 15 million ounces of gold since operations began in 1977.
Evolución Project – Mineral Processing, Resource Growth & Exploration
The Evolución Project is located in Miguel Auza, Zacatecas, Mexico, and hosts a large gold, silver, lead and zinc epithermal within a 45,000-hectare property that is 100% owned by Excellon. The site includes a processing facility with a mill and flotation circuit which processes ore from Excellon's Platosa mine. The facility has a capacity of 800 tons per day, with a 650 ton-per-day ball mill in operation and a second 150 ton-per-day ball mill on standby. Excellon is looking at opportunities for toll milling, expansion and economic study of the mineral resource and grassroots exploration. Importantly, the project covers an unexplored 35-kilometer strike of the Fresnillo silver trend, the richest silver belt in the world.
Silver City Project – Exploration
Excellon holds an option to acquire the 16,400-hectare Silver City Project in Saxony, Germany. Initial drilling results in 2020 confirmed the presence of a high-grade, district-scale epithermal silver system over more than 12 kilometers of strike. The Company is now focused on defining wider zones of mineralization (https://nnw.fm/jMah9). Silver City was mined from the 11th to late-19th century, until Germany moved off the silver standard in 1873. The deposits in the area were exceptionally high grade, with historical records indicating grades well in excess of 1,000 g/t silver.
Oakley Project – Exploration
The Oakley Project, located in Oakley, Idaho, is an exploration project with land holdings of approximately 7,000 acres. The project hosts gold-silver, epithermal hot spring-type mineralization at two targets: Blue Hill Creek and Cold Creek, and detachment-related gold-silver mineralization at Matrix Creek. The Company has granted Centerra (U.S.) Inc. an option to earn in to a 70% interest by, among other things, spending up to US$7 million in exploration expenditures on the project prior to May 2026.
Management Team
Brendan Cahill is the President & Chief Executive Officer of Excellon Resources Inc. He was previously Vice President Corporate Development of Pelangio Exploration Inc., a junior gold exploration company active in Ghana, West Africa. Mr. Cahill is a board member of the Mining Association of Canada, Group Eleven Resources Ltd., and Kore Mining Inc. He holds a law degree from the University of Western Ontario and an undergraduate degree from the University of Toronto.
Alfred Colas is the Company's Chief Financial Officer. Most recently, he held the title of CFO of Arch Corp., a Toronto-based private-equity investment firm. Mr. Colas has over 18 years of experience in the mining industry. He is a sitting board member for a housing corporation affiliated with the University of Toronto and is a Chartered Professional Accountant. Mr. Colas completed a Bachelor of Commerce at the University of Toronto.
Paul Keller is Excellon's Chief Operating Officer. He has over 30 years of industry experience in mining and mine development operations. He previously served as the Senior VP of Major Projects and COO of Trevali Mining. He has experience in building mines from greenfield through permitting, design and operation. Mr. Keller holds a Bachelor of Engineering – Mining from Laurentian University.
Ben Pullinger is the Senior Vice President Geology & Corporate Development for Excellon. Ben brings over 15 years of experience in advancing projects from early stage exploration through to production. Most recently, he was Vice President Exploration at Roxgold Inc., where he made a significant contribution toward growing the 55 Zone at Yaramoko Project into a producing mine. Mr. Pullinger serves on the board of Orford Mining. He is a Professional Geologist (Ontario) and holds an Honors Degree in Geology from the University of Johannesburg.
Hollywall Entertainment Inc. (OTC: HWAL)
Hollywall Entertainment Inc. (OTC: HWAL) is a telecommunication, media, technology, broadcasting and entertainment company. Through various subsidiaries, Hollywall maximizes rights to its music, film, television, software and game libraries. Hollywall owns exclusive and nonexclusive rights to market, manufacture and distribute music master recordings performed by multiple platinum-selling acts.
Hollywall was founded in 2009. The company currently has two corporate offices – one in Washington D.C. and the other in New York City.
Hollywall Entertainment Inc. (Hollywall) Subsidiaries
Hollywall has a portfolio of operating subsidiaries spanning various industries, including infrastructure development, 5G and telecommunications, broadcasting, education, media and entertainment.
Hollywall is a minority majority-controlled consortium enterprise company led by founder and President/CEO Darnell Sutton, a highly recognized visionary and award-winning business and social leader.
HWAL continues to expand its business enterprise to numerous city and state municipalities and government agencies throughout the country, including: Washington DC, New York, Virginia, Massachusetts, Pennsylvania, Texas and California, as well as within the Blackbelt regions of Alabama, Louisiana, Mississippi, Georgia and North Carolina, leading the way in developing and implementing solutions to work toward closing the broadband digital divide that has been forced upon the most vulnerable in underserved urban and rural communities nationwide.
Hollywall Development Company ("HWDC")
HWDC builds, restores and creates "smart" cities/communities and fiber networks throughout the U.S. HWDC services, initiatives and investments include broadband and 5G networks, IOT, smart city technologies, energy, tele-medicine, tele-education, transportation, clean water, waste management and the development of green environments.
HWDC employment growth opportunities continue to attract the industry's best, brightest and most seasoned corporate executives to join its staff, as well as its ongoing efforts to develop highly effective and profitable strategic partnerships with investment banks, global capital funds, public financial and wealth management firms, construction and engineering companies, telecommunications companies, federal agencies, state and local governments, nonprofits, faith-based organizations and housing authorities.
HWDC's Smart Cities division aims to provide various services and solutions, such as fiber-optic networking, data centers, smart kiosks, charging stations, security and camera systems, smart traffic monitoring, emergency alert systems, gunshot detection, backup power solutions, smart connected buildings, connected and autonomous vehicles, intelligent transportation systems, advertising and more.
HW Vision and Omnipoint Technology Inc.
Hollywall Entertainment advanced its technological footprint in December 2020 by announcing its entry into an agreement to acquire top United States telecommunications firm Omnipoint Technology Inc. Through the formation of a new wholly owned subsidiary, HW Vision, Hollywall intends to offer state-of-the-art services in the continuously growing digital marketplace, such as:
In conjunction with its Omnipoint Technology partner, HW Vision has created and developed unique branding for streaming media programming, live television and on-demand content. Offerings from the HW Vision brand are expected to be available for purchase early in 2021.
Hollywall Entertainment Digital Music Network and Hollywall TV
The Hollywall Entertainment Digital Music Network ("HW Network") has been constructed to sell single song downloads, artist album downloads and ringtones, as well as licensing music for commercial use. Hollywall Music is an owner of legacy music and video collector sets that are distributed to retail, wholesale and download or streaming services. This music library has been protected for over 20 years, and it contains some of the rarest and most coveted unpublished records by legends in the music industry.
Market Outlook
Covering various industries that are continuously expanding, such as telecommunications, media, technology, construction, infrastructure, entertainment and broadcasting, Hollywall is uniquely positioned to secure a prominent role and leverage continued growth opportunities for its subsidiaries.
The 5G sector alone could generate significant interest and market opportunities for Hollywall via HWDC and its community-focused initiatives, including the development of smart cities. The global 5G market was estimated at $41.48 billion for 2020 and is expected to reach an impressive $414.5 billion by 2027, expanding at a CAGR of 43.9% (https://ibn.fm/mgXIu).
Management Team
Darnell Sutton is the Founder, CEO and Chairman of Hollywall Entertainment Inc. Mr. Sutton has over 40 years' experience with many talents and vast experience as a veteran in the music recording industry, publishing, distribution, live entertainment, television, broadcasting, film and sports athlete, TV/film celebrity and artist management.
Darnell Sutton has represented and worked with some of the greatest athletes and entertainers of our time, including the "King of Pop" Michael Jackson, former heavyweight boxing champion Mike Tyson, current Welterweight Boxing Champion Floyd Mayweather, tennis superstar Serena Williams, Julius "Dr. J" Erving and incomparable multiple Grammy award-winning performers such as The Jacksons, Patti Labelle, Roberta Flack, MC Hammer, Dionne Warwick and Mariah Carey… just to name a few.
"Darnell Sutton, is one of the most exciting master communicators, creative developers and innovators of our time"…says, Tom Stein, Success Magazine.
"After many years of developing, producing and acquiring some of the world's finest entertainment properties, we are honored to present Hollywall Entertainment companies to the marketplace. We are thrilled to join forces and work with some of the most brilliant and talented Hollywood and Wall Street executives, who have a combined shared experience of industry-recognized excellence," Sutton said in a news release.
Roxanna Green is the Chief of Staff for Hollywall Entertainment Inc. She has over 30 years of diverse background experience ranging from corporate management to finance. Her experience includes providing corporate legal and financial guidance to both public and private companies, as well as spearheading audits, merger and acquisition negotiations, branding, marketing and public relations initiatives. She has spent the majority of her 30 years in the entertainment and media industry. She has worked with diverse institutions such as banks and securities firms, among others.
Ideanomics Inc. (NASDAQ: IDEX)
Ideanomics Inc. (NASDAQ: IDEX) is a global company facilitating the adoption of commercial electric vehicles and supporting next-generation financial services and fintech products. Ideanomics is currently divided into two divisions – mobility and capital. These divisions provide shareholders with access to disruptive and high-growth opportunities.
The company expects 2021 to be another growth year after it raised approximately $400 million over the past six months. This funding has already been put to good use with acquisitions of Wireless Advanced Vehicle Electrification (WAVE) and Timios. With roughly $200 million still on the balance sheet, Ideanomics continues to look for new investments and acquisitions in revenue-based opportunities focused on EV and fintech businesses.
Founded in 2004, Ideanomics is headquartered in New York, New York, with additional offices in Hangzhou, Beijing and Qingdao, China. Its current operations span the United States, China, Ukraine and Malaysia.
Ideanomics Mobility
Ideanomics Mobility is focused on the EV market. The global commercial EV market was valued at $34.7 billion in 2018 and is expected to grow at a CAGR of 39.9% through 2022 to reach a total of $132.73 billion (https://ibn.fm/pPrf4). According to a survey by Grand View Research, the global EV charging infrastructure market is also expected to grow and reach $144.97 billion in 2028, expanding at a CAGR of 33.4% from 2021 to 2028.
This growth is expected to be driven by increased support of electric vehicles from the public, as well as the current U.S. administration, which has a goal of achieving a 100% clean-energy economy.
The Ideanomics Mobility unit consists of five companies:
Ideanomics is generating EV revenue from its Sales to Financing to Charging (S2F2C) business model, which features three operating areas:
Ideanomics Capital
Ideanomics Capital is focused on providing disruptive fintech solutions across the entire board of financial services, ranging from financial markets to digital securities and assets to mortgages and more. More mainstream institutions and a growing number of companies have increased their digital securities services, along with institutional investments boosting bitcoin and the emergence of favorable regulatory developments, creating ample opportunities for widespread adoption of financial technologies.
Additionally, the U.S. real estate industry is ripe for technologization, as it currently is fragmented, antiquated, opaque and largely untouched by tech innovation. However, the expanding market, with U.S. home sales expected to grow 21.9% in 2021, and the increased digitization of all business spaces are expected to promote a digital-first experience as the new industry standard this year and beyond (https://ibn.fm/DwsUv).
The Ideanomics Capital unit consists of five companies:
Management Team
Alf Poor is Ideanomics' Chief Executive Officer. He is a client-focused and profit-driven executive who has a track record of success in rapidly growing technology companies and large, multi-national organizations. Mr. Poor's expertise includes business planning, financing and creating and implementing corporate governance policies, as well as handling management across organizations. His specialization is working with cross-border and multi-national startups. Before taking the CEO role at Ideanomics, he was the CEO for Global Data Sentinel.
Conor McCarthy is the company's Chief Financial Officer. He is a strategic and operationally oriented management-level professional. His extensive international experience is within the fintech, data science and advertising technology sectors. Mr. McCarthy has experience with public companies, PE, and VC-backed firms. His specializations are financial and management reporting, planning and analysis, financial modelling, performance metrics, KPIs, venture borrowing, Series A equity funding, ERP system implementation, international business operations, and acquisition due diligence and integration. Before joining Ideanomics, Mr. McCarthy most recently held a CFO position at OS33. Prior to that, he was CFO for Intent Media Inc.
Kate Lam is the company's Managing Director of Financial Products. She is highly regarded for her fixed income capital marketing skills across Asia and the United States. Ms. Lam has over 25 years of experience in the financial markets industry, dealing with many asset classes and clients. Having spent a few years in the fintech startup industry, her skills bridge the gap between traditional financial assets and new technological innovations. She has held senior management positions at Bear Sterns, Deutsche Bank and Standard Chartered Bank.
Keith Byers is Ideanomics' Senior Vice President of Operations. He has extensive experience managing strategic relationships with key clients and deepening the relationships through innovation and successful engagement strategies. Before Ideanomics, Mr. Byers was the Managing Partner and Head of Operations for Gain Theory. He has a Master of Arts – MA, Economics from Heriot-Watt University and a Master of Science – Economics from The University of Edinburgh.
Tony Sklar is the company's Senior Vice President of Investor Relations. He is a communication strategist and has worked for multi-faceted companies with global operations. Mr. Sklar handles omni-channel distribution using intelligence platforms and data insights for strategic planning, international expansion and marketing channels. His specialties include project management with digital strategy and transformation, ICO, marketing, blockchain and strategic partnerships. In addition to his role with Ideanomics, he is also a board member for the Delaware Board of Trade and the host and senior technology reporter for Far From TV.
Mohawk Group Holdings Inc. (NASDAQ: MWK)
Mohawk Group Holdings Inc. (NASDAQ: MWK) is a leading tech-enabled consumer products platform that uses machine learning, natural language processing and data analytics to design, develop, market, and sell products. The company's proprietary AIMEE(R) platform leverages data and AI to automate the design, development and launch of best-selling consumer products.
Mohawk owns and operates 12 brands and sells consumer products in multiple categories ranging from kitchenware and home appliances to environmental appliances, beauty products and even consumer electronics.
Founded in 2014, Mohawk has offices in the United States, Canada, China and the Philippines. The company is always working to capitalize on the strength of the different cities and time zones in which it operates to ensure continued excellence around the world and achieve its goal of becoming the most consumer-centric product company.
AIMEE(R) Platform
AIMEE(R) (AI Mohawk E-commerce Engine) is Mohawk's proprietary platform that leverages data and AI to:
The platform's core functionalities include:
Mohawk's Business Model
Mohawk's unique business model is designed to drastically shorten go-to-market time, decreasing the typical 18- to 24-month process to just 6- to 8-months. Using AIMEE(R), Mohawk leverages real-time data-driven opportunities and trend tracking to replace the idea focus group research and development of the standard model.
Marketing time is also reduced between the two models using the AIMEE(R) Trading Engine for data-driven automated marketing and product lifetime management. Through the AIMEE(R) trading engine, the traditional 3-month marketing for a standard go-to-market model is cut to a fraction of the time.
The AIMEE(R) Fulfillment Engine allows for dynamic inventory allocation, fulfillment selection, cost optimization, a third-party logistics network and a 2-day shipping period across almost all of the United States. The standard business model doesn't support direct distribution or an FBA (fulfilled by Amazon) structure.
Opportunities for Growth and Profitability
Mohawk's plan to drive growth and profitability in the market includes:
Mohawk's long-term goal is to increase its profit margin from 14% in 2020 to 18-20%, using higher average selling prices and lower fulfillment costs as primary drivers. Due to its technology and platform effect, Mohawk's corporate overhead is expected to increase at a slower pace than sales. Its fixed operating costs long-term target goal is 5%, which follows the current trend (2019 – 19%, 2020 – 13%). It aims for an adjusted EBITDA of 13-15%.
Management Team
Yaniv Sarig has been Mohawk's President and Chief Executive Officer since September 2018. He is also a co-founder of Mohawk Group Inc. Mr. Sarig has served as the President and Chief Executive Officer of Mohawk Group Inc. since June 2014. Before his role at Mohawk, he led the Financial Services Engineering department at Coverity, a software startup providing code and security solutions to top financial institutions and hedge funds in New York to include the New York Stock Exchange, Nasdaq, JPMorgan Chase and Barclays. Before his Coverity role, Mr. Sarig held lead technical roles at Bloomberg and EPIQ Systems Inc. (NASDAQ: EPIQ). He holds a Bachelor of Science from Touro College. He is fluent in English, French, Hebrew and C++.
Fabrice Hamaide has been the Chief Financial Officer of Mohawk since September 2018. He has also retained the position of Chief Financial Officer for Mohawk Group Inc. since July 2017. Before Mohawk, Mr. Hamaide held numerous financial, CFO and presidential roles in various technological and consumer product companies across Europe and the United States, including Piksel Inc., Atari, Parrot and Logitech. Mr. Hamaide holds an impressive set of credentials, including an MBA from Columbia Business School, an MS in Information Systems Design from Sorbonne University, and a BS in Applied Mathematics from Jussieu University.
Mihal Chaouat-Fix has been the Chief Product Officer for Mohawk since September 2018. Prior to taking this role within the company, she was the Chief Operating Officer, handling the day-to-day leadership and operational management of Mohawk. Before joining Mohawk, Ms. Chaouat-Fix worked in various roles at Gottex Models Ltd. At this international fashion swimwear firm, her focus on marketing, operations and manufacturing saw supply chain and distribution of 12 million units per year to over 40 countries worldwide.
Tomer Pascal has been the Chief Revenue Officer for Mohawk since 2018. He has also served as the Chief Revenue Officer for Mohawk Group Inc. since 2017. Before he joined the Mohawk team, he was the Chief Executive Officer and co-founder of OMG Studios. Throughout his career, Mr. Pascal has held many different co-founder and general management roles, focusing on companies' marketing and revenue growth in the media and technology industries.
Roi Zahut has held the role of Chief Technology Officer for Mohawk since 2019. Before Mohawk, he served in numerous roles, including CTO of the Advanced Analytics global consulting team at IBM and architect of IBM Metropulse. While in Israel, Mr. Zahut held several senior technical, business and data science roles in startups and consulting to include IBM Israel, Brainbow Ltd. and Matrix IT Ltd. He holds an MSc in Neuroscience with distinction from Bar Ilan University.
Net Element (NASDAQ: NETE)
On August 5, 2020, Net Element announced the execution of a definitive agreement to merge with privately-held Mullen Technologies Inc., a Southern California-based electric vehicle company, in a stock-for-stock reverse merger in which Mullen's stockholders will receive a majority of the outstanding stock in the post-merger company. The completion of the merger is subject to shareholder and NASDAQ approval, as well as other conditions referenced in the merger agreement.
Net Element Inc. (NASDAQ: NETE) is a global financial technology and value-added solutions group that supports electronic payments acceptance in an omni-channel environment spanning across point-of-sale, e-commerce and mobile devices. The company operates a payments-as-a-service transactional model and value-added services platform for small to medium enterprises in the U.S. and selected emerging markets.
Net Element believes the future of global commerce is being revolutionized as consumers quickly migrate toward omni-channel shopping utilizing mobile devices, desktop, and online services. The company's all-in-one payment solutions support and unify a whole range of applications through a single, robust platform, allowing global onboarding and support for multiple payment methods.
Net Element has also launched a blockchain-focused business unit that will develop and deploy blockchain technology-based solutions. Net Element expects the new division to create a decentralized crypto-based ecosystem that will act as a framework for an unlimited number of value-added services, connecting merchants and consumers in a seamless, economically efficient transaction. This new business unit intends to also identify and invest in unique projects that decentralize and disrupt the payment processing industry by combining blockchain technology and real-world applications with talented development teams, strong fundamentals and addressable markets large in size.
"We believe that we're at the dawn of a new evolution where additional digital payment methods are being introduced," Net Element chairman and CEO Oleg Firer, says. "Introduction of our division focused on blockchain as part of the NASDAQ-listed entity will add transparency and compliance assurance to our investors as well as provide access to deploy value-added services to over 20 million electronic commerce clients that are currently part of Net Element's growing network."
Net Element clients are treated to customized solutions that provide the flexibility needed to keep up with customers. Among the services offered are mobile payment apps that accept payments anywhere, anytime; cloud-based solutions built to increase productivity and enhance revenue for clients and partners; marketing solutions that turn lookers into buyers; and business analytics that make it easy for clients to monitor business metrics, engage with customers and compare the competition. Its multi-channel platform combines e-commerce, offline, point-of-sale, comprehensive back office tools, mobile point-of-sale, credit scoring and customer interaction in one powerful platform-as-a-service technology.
Net Element owns and operates a global mobile payments and transactional processing provider, TOT Group, Inc., with the following subsidiaries:
Net Element is ranked on Deloitte's Technology Fast 500™ list of North America's 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in both 2017 and 2018, during which the company grew 190 percent and 183 percent, respectively. The company credits its progression to organic growth in its North America Transactions Segment, specifically the success of its Unified Payments brand, which focuses on value-added payment acceptance solutions for small to medium enterprises in the United States.
Net Element was also listed among South Florida Business Journal's 2016 fastest growing technology companies.
Leveraging its suite of application performing interfaces (APIs) and connectors, Net Element powers commerce for businesses of all sizes through multi-channel platforms, all-in-one digital solutions, and end-to-end encryption of cardholder data utilizing tamper resistant hardware that ensures integrity and simplifies security.
Leading this innovation is chairman and CEO Oleg Firer, who is responsible for the overall vision, strategy and execution of the company's mission of powering global commerce. He is joined by CFO Jeffrey Ginsburg, CPA, and Steven Wolberg, the company's chief legal officer and secretary. Each corporate officer brings a unique blend of leadership, vision, experience and creative energy to the company.
From mobile payments and value-added transactional innovations like Aptito to e-commerce and retail payment transaction processing brands like Payonline and Unified Payments, Net Element is transforming the online and mobile experience.
Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF)
Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF), based in Vancouver, Canada, is a leading provider of web-based augmented reality for e-commerce, advertising and virtual events, with technology ranging from simple 3D images to using 360-degree videos. Nextech AR provides businesses with a powerful end-to-end augmented reality platform designed specifically to increase online sales.
The company is currently pursuing four unique verticals with its innovative technology, including:
Unique Marketing Strategy
Nextech AR's efforts to disrupt the market for web-based augmented reality for e-commerce are supported by a unique go to market strategy. First, the company seeks to build or acquire platforms targeting a number of rapid growth industries, most notably AR, edTech, e-commerce, 3D/AR advertising and virtual & hybrid events.
After identifying these market opportunities, the company seeks to integrate new AR technologies into existing or novel platforms in an effort to secure market share and promote growth. These technologies include WebAR, Human Holograms, 360 Portals, ScreenAR, Genie in the bottle and AiRShow.
Nextech AR then aims to leverage these platforms to land and expand partnerships with a number of blue chip customers. The company's current customer base includes the likes of Amazon, Johnson & Johnson, ViacomCBS, Toyota and Carnegie Mellon University.
Growth Capital
Nextech AR generates revenue through a software-as-a-service model from technology services, delivery of service revenue and sales of products through e-commerce.
As noted in its latest investor presentation, the company achieved record bookings in Q4 2020 of $7.3 million (estimated), marking a greater than 275% year-over-year increase. The company also realized greater than 235% revenue growth for calendar 2020, reporting $20 million for the 12-month period. Nextech AR attributes its 2020 increase in revenues to the contracts secured with new customers, expanded agreements with existing customers and additional conversions from e-commerce channels.
With its newly launched 3D ad network now bolstering its operations, Nextech AR is projecting revenues in excess of $50 million for 2021.
Recent Company Highlights
Management Team
Evan Gappelberg is CEO and Founder of Nextech AR. He is an experienced operating executive specializing in creating, funding and running hyper-growth startups in both the public and private sectors. Notably, he took Take-Two Interactive Software Inc. (NASDAQ: TTWO) public with a market cap of $30 million and played a key role in guiding its growth to a current market cap of roughly $14 billion. Mr. Gappelberg has extensive experience as both a hands-on operating executive and a public markets professional.
Paul Duffy is the company's President. He is a serial entrepreneur with over 25 years of experience in successfully starting, expanding, diversifying and selling global technology companies. Mr. Duffy is the creator of the HumaGram and inventor of the patent for Holographic Telepresence over the Internet (TOIP).
Augen Winschel is the COO of Nextech AR. He is an 18-year SAP executive with over 20 years of leadership experience in the areas of business management, business operations, marketing, product management, digital business and enterprise artificial intelligence.
Kashif Malik, CPA, CA, is the company's CFO. He has over 15 years of financial experience spanning IPOs, M&A activity, corporate restructuring and capital raising. Mr. Malik has worked globally with public and private companies, including Merck & Company Inc. (NYSE: MRK), Real Matters Inc. (TSX: REAL) and Constellation Software Inc. (TSX: CSU). He obtained his Chartered Accountant designation while working at Deloitte.
Hareesh Acchi is the company's President of 3D/AR Advertising. He is a 20-year Microsoft technology veteran with experience leading digital transformation and scaling businesses and enterprise organizations across the advertising industry.
Pressure BioSciences Inc. (PBIO)
Pressure BioSciences Inc. (PBIO) develops, markets and sells proprietary laboratory instrumentation and associated consumables to the life sciences sample preparation market. Sample preparation refers to the wide range of activities that precede most forms of scientific analysis. It is often complex and time-consuming, yet a critical part of scientific research. The market for sample preparation products is currently estimated at $6 billion worldwide.
The Company's product line can be used to exquisitely control the sample preparation process. It is based on a patented, enabling technology platform called pressure cycling technology ("PCT"). PCT uses alternating cycles of hydrostatic pressure between ambient (14.5 psi) and ultra-high levels (up to 100,000 psi) to safely and reproducibly control critical biological processes, such as the lysis (breakage) of cells, the digestion of proteins, and the inactivation of pathogens.
Pressure BioSciences' product line is led by its newly released, next-generation Barocycler 2320EXTREME instrument. Named a finalist in the prestigious 2017 R&D Awards (also known as the "Oscars of Innovation"), the Barocycler 2320EXT is already being touted by some key opinion leaders as an essential element of the $1.8 billion U.S. "Cancer Moonshot" program. For example, Professor Phil Robinson, Co-head of the cancer research center of the Children's Medical Research Institute (Sydney, Australia), said in a recent interview: "We are collecting the whole proteome on 70,000 tumor samples from all classes where complete clinical outcome is known. Due to its unique capabilities, the Barocycler 2320EXT has become a critical part of our program. It is the primary enabler of the high-throughput component of the project. Without this step, our project simply could not be done. In fact, the Barocycler 2320EXT works so well we have just purchased two more."
Momentum is building when it comes to the potential for using the Company's unique PCT technology platform. Leading scientists are intrigued by Pressure BioSciences' approach, which among other attributes, revolutionizes the process of rupturing cells (lysis) for further study, yielding superior biomolecules for investigation. The Company's technology transcends current methods of breaking open cells, which use chemicals, blades, metal beads, or other damaging and altering methods that can ultimately adversely affect the result for researchers. Pressure BioSciences' PCT technology utilizes customized, controlled hydrostatic (water) pressure to rupture cells in a chamber, enabling exquisitely customized levels of pressure to optimally break open different types of cells at prescribed pressure levels—something never before accomplished in a commercial setting. Using this pioneering method, the result is a truer, more legitimate sample, which boosts the efficacy of research and the quality of results. The potential impact of this technology on scientific advancement is enormous, enabling research scientists to begin their studies with biological samples of unprecedented integrity, with the potential to improve research outcomes at the earliest, most critical step. PCT can additionally inactivate pathogens (e.g., viruses, bacteria) using hydrostatic pressure, making the samples safer to study—another innovation with astronomical potential for application in a variety of markets.
The Company's high-pressure instruments for research purposes are marketed throughout the United States, Europe, China and Japan. To date, Pressure BioSciences has installed nearly 300 PCT Systems in over 165 leading academic, government, biotech and pharma laboratories around the world. Its primary applications are in biomarker discovery, forensics, agriculture and pathology. Over 100 scientific papers have been published on the advantages of the PCT platform, which is also being used in the specialized fields of drug discovery and design, bio-therapeutics characterization, soil and plant biology, vaccine development and histology.
Impressive as their biotech business is, there is more to the PBI story. Pressure BioSciences recently received two patents in China for its novel Ultra Shear Technology (UST), a process that has potential in a wide range of industrial applications, including extending the shelf life of some food products and making two insoluble liquids (like oil in water) soluble. Patents have also been filed in many other countries worldwide. UST is a novel technique based on the use of intense shear forces generated from ultra-high-pressure valve discharge.
This important technology has the potential to play a significant role in a number of commercially important areas through its ability to create high-quality, stable nanoemulsions. Scientific studies indicate that improved absorption, higher bioavailability, greater stability, lower surfactant levels and other advantages can be achieved with nanoemulsions – all hugely important factors in the fields of nutraceuticals, cosmetics, pharmaceuticals, and in various medical products. There is an enormous opportunity in the cannabis market, since the technology can potentially reduce oil droplets containing cannabidiol (CBD) to nanoparticles, after which they can be safely suspended in a stable water solution—something many companies have endeavored to achieve without success. Researchers looking for a way to increase the bioavailability of cannabinoids in the body will find this technology a game changer.
The Company's UST technology also has possibilities in the production of clean label foods, which are currently processed using several innovative methods, including high-pressure treatments (such as Starbucks' Evolution line of juices). In 2015, the worldwide market for high-pressure processed (HPP) food was estimated at U.S. $10 billion. UST uses ultra-high pressures and certain valves to generate intense shear forces under controlled temperature conditions to produce nanoemulsions, and which also significantly reduces food-borne pathogens. Pressure BioSciences' initial focus with this technology will be to evaluate UST for the production of high-quality dairy products and beverages.
SRAX Inc. (NASDAQ: SRAX)
SRAX Inc. (NASDAQ: SRAX) is a digital marketing and consumer data management technology company. SRAX's technology unlocks data to reveal brands' core consumers and their characteristics across marketing channels.
Through its BIGtoken platform, SRAX has developed a consumer-managed data marketplace where people can own and earn from their data, thereby providing everyone in the internet ecosystem choice, transparency and compensation.
SRAX's tools deliver a digital competitive advantage for brands in the CPG, automotive, investor relations, luxury and lifestyle verticals by integrating all aspects of the advertising experience, including verified consumer participation, into one platform.
SRAX Verticals
International Expansion
BIGtoken is formally launching into several international markets and partnering to foster local support. SRAX recently signed a joint venture with the Yash Birla Group to launch BIGtoken in India. Based in Mumbai, the Yash Birla Group, one of India's largest conglomerates, has diversified interests in consumer and industrial products.
The partnership will bring BIGtoken's platform to India, which has a digital population of 627 million. The India digital advertising market is $3.6 billion and is set to grow at a compound annual growth rate of 32%, making it one of the largest growing digital ad markets in the world.
SRAX Mexico is led by Moe Avitia, who has more than 18 years of experience in business development and building high-tech teams. SRAX Mexico includes a team of 90 employees, including 70 engineers.
BIGtoken Europe is currently evaluating data centers in individual countries for privacy laws.
Leadership
Christopher Miglino is CEO and founder of SRAX. He has spent the past 20 years working in the digital advertising space and has successfully launched and sold two internet companies. Both of these companies were sold to publicly traded companies on the NASDAQ. He has a detailed understanding of how technology interacts with brands.
Kristoffer Nelson is COO of SRAX and a founding member of BIGtoken. With over 15 years of technology and creative business experience, Nelson has been a guest speaker for Loyola Marymount University among other academic institutions, the National Association of Broadcasters, the IAB and numerous other professional and media organizations.
TAAT Lifestyle & Wellness Ltd. (CSE: TAAT) (OTCQX: TOBAF)
TAAT Lifestyle & Wellness Ltd. (CSE: TAAT) (OTCQX: TOBAF) is a life sciences company dedicated to giving legal-aged smokers the choice to keep the smoking experience that they enjoy with no nicotine and no tobacco.
The key players of TAAT Lifestyle & Wellness are from leading tobacco brands. They are guiding the mission with the company's proprietary product, TAAT(TM), which uses the company's proprietary Beyond Tobacco(TM) base material. The base material undergoes a 14-step process to taste and smell just like tobacco and uses a patent-pending refinement technique.
This provides the company with unique opportunities on the global tobacco market, which was estimated at $849 billion in 2019, with approximately 1.3 billion people using tobacco in some form worldwide (https://nnw.fm/bvKFL).
TAAT Lifestyle & Wellness was founded in 2006 and is headquartered in Vancouver, Canada, with operations in Las Vegas, Nevada.
TAAT(TM)
TAAT is a smokable alternative to tobacco cigarettes using the Beyond Tobacco base material, which contains zero tobacco and zero nicotine. The current TAAT offering comes in three varieties: Original, Smooth and Menthol, which were launched during Q4 2020 in Ohio. The company's Ohio tobacco wholesaler also distributes for major tobacco industry names such as Altria, RJ Reynolds (a subsidiary of British American Tobacco) and ITG.
The TAAT Beyond Tobacco experience was created to replicate the sensory elements of smoking a tobacco cigarette. Market testing in California and Nevada reached a consensus that TAAT products offered no significant differences in experience when compared to tobacco cigarettes, in terms of the following aspects:
TAAT Beyond Tobacco Targeting Current Smokers
TAAT Lifestyle & Wellness is currently targeting the market of legal-aged smokers with its proprietary product. The company aims "not to create a new problem, but to solve an existing one." TAAT Lifestyle & Wellness offers a non-addictive alternative to tobacco, with several competitive advantages making it a promising option on the United States market, such as:
The current alternatives to cigarette smoking do not offer a comparable experience. Previously marketed products, like vaping, proved difficult for some legal-aged smokers to adopt, as the experience was too different from traditional cigarettes.
Market Outlook
In 2016, the United States tobacco market was valued at over $100 billion, a number that's expected to grow over the next decade (https://nnw.fm/yd8oP). In terms of volume, over 215 billion cigarettes were sold to roughly 34 million adults in the United States in 2018. These numbers represent almost 14% of the adult population. Of those, almost two-thirds smoked more than 15 cigarettes in one day. A standard pack is comprised of 20 cigarettes.
The company's Beyond Tobacco, as a non-tobacco product, has a price-driven consumer advantage in many states. While state taxes on traditional cigarettes vary, most tend to average around $1.82 per pack. Washington D.C. is on the higher end of the tax spectrum at $4.50 per pack, whereas Missouri is only $0.17 per pack (https://nnw.fm/D3WnT).
TAAT Lifestyle & Wellness estimates that, if one pack of TAAT Beyond Tobacco was sold at 20% of all United States tobacco points of sale, the product would capture 0.25% of the market, the equivalent of approximately 2.7 million cartons of cigarettes per year.
Management Team
Setti Coscarella is the Chief Executive Officer of TAAT Lifestyle & Wellness Ltd. He is experienced in investment banking, private equity and entrepreneurship. In 2017, Mr. Coscarella was the lead strategist for Reduced-Risk Products at Philip Morris International. While there, he worked with thousands of smokers to better understand how to position smoking alternatives, developing programs that could help smokers convert to reduced-risk products. Mr. Coscarella holds an MBA from the Schulich School of Business, specializing in finance, marketing and corporate strategy. He also has a Bachelor of Science in mathematics and physics from the University of Toronto.
Tim Corkum is the company's Chief Revenue Officer. He has a lengthy history in the tobacco industry, having served 21 years at Philip Morris International. Mr. Corkum has experience leading the international commercialization of combustible cigarettes and working on reduced-risk product offerings. During his 21-year tenure, he held senior positions in business development, sales strategy, key account management and corporate affairs. He holds a BA from Carleton University with a concentration in law.
Joe Deighan is Founder of TAAT Lifestyle & Wellness and oversees research and development. He is the founder of vape liquid 'JJuice', created in 2012. JJuice was distributed across all of the United States and in 26 other countries, alongside the private label production that was done for other brands. Mr. Deighan sold JJuice in a cash deal that was valued at over $800,000 in 2017. He currently handles all R&D and production for Beyond Tobacco, knowing the product better than anyone else in the company.
Uranium Energy Corp. (NYSE American: UEC)
Uranium Energy Corp. (NYSE American: UEC) is a U.S.-based uranium mining and exploration company that controls one of the country's largest historical uranium exploration and development databases. Founded in 2003, UEC is headquartered in Corpus Christi, Texas. Properties acquired by the company are primarily located within the United States, including Texas, New Mexico, Colorado, Arizona and Wyoming.
Through the use of historical exploration data, UEC has been able to target and acquire properties that have already been subject to exploration and development by senior energy firms in the past.
UEC is well-financed to aggressively pursue key developmental targets. The company is also well-positioned to capitalize on rising global demand for more uranium and more carbon-free energy, and it uses technology that contributes to a cleaner environment.
In-Situ Recovery (ISR) Technology
In-situ recovery (ISR) technology is a low-cost and environmentally friendly mining technology utilized by UEC at its fully licensed projects, including Palangana, Burke Hollow, Goliad and Reno Creek.
ISR technology involves the circulation of naturally occurring and benign groundwater through a uranium ore body. This natural water (that is unfit for any other use) plus oxygen is pumped into injection wells through the uranium ore body, where the uranium in the host sandstone is oxidized and solubilized. The uranium bearing groundwater continues to flow through the sandstone to the extraction wells, where it is pumped to the surface. This water proceeds to an ion exchange unit (like a big water-softener) for uranium removal, then is pumped back to the wellfield and again re-circulated through the ore body. This recirculation of the same groundwater continues over and over, until the uranium in the sandstone is depleted.
In the ion exchange process, the extracted uranium in solution is concentrated on resin beads for transport to the Hobson Processing Facility. There, the uranium then undergoes several simple processing steps before being dried and packaged as "yellowcake" that will be transported to a conversion facility, where its sold to UEC customers.
Hobson Processing Plant
Hobson is the centerpiece in UEC's hub and spoke production strategy, with low-cost satellite ISR operations all within relatively short trucking distance. The plant is fully licensed and currently on standby with an annual production capacity of 2 million pounds of U3O8. The spokes of the UEC strategy include the Palangana, Burke Hollow, Goliad, Salvo and Longhorn ISR projects. With an improvement in uranium prices that justify production, UEC plans to restart the plant with uranium loaded resins originating first from Palangana and then followed by Burke Hollow. UEC has applied for a license amendment with the Texas Commission on Environmental Quality to increase the Hobson facility's production capacity to 4 million pounds per year.
Current Projects
Uranium Energy's current project portfolio includes:
Uranium Market Outlook
The long-term fundamentals underlying the market continue to strengthen. Currently, UEC sees an annual gap of about 40 million pounds between uranium production and utility requirements. Current forecasts show this structural deficit persisting at least through 2026 and then expanding further to almost 70 million pounds per year by 2030. While secondary supplies have been filling the void, those supplies are not a sustainable long term supply source. There are different estimates on timing, but it is clear secondary supply (that includes inventory drawdowns) will be insufficient to fill the projected gap between supply and demand, and new production will be required. As this transition evolves, the market will become more production cost driven as opposed to inventory driven.
Higher priced contracts that have supported high production costs are continuing to roll out of producer and utility supply portfolios. These higher priced contracts are not replaceable, with current market prices below production costs for the vast majority of western producers. This will likely continue the trend of production cuts and deferrals until prices rise sufficiently to sustain long-term mining operations.
In the U.S., some of the foreign State-Owned Enterprise ("SOE") supply that has been flooding the market will be reduced. Last year, the U.S. Department of Commerce negotiated an amendment to the Agreement Suspending the Antidumping Investigation on Uranium from the Russian Federation that reduces America's dependence on Russian natural uranium concentrates by up to 75% from prior levels. Due to a prolonged weak pricing environment from an influx of price insensitive supply from SOEs, U.S. production is effectively zero, less than 1% of U.S. requirements.
On the demand side of the equation, further upside market pressure also appears likely to evolve as utilities return to a longer-term contracting cycle to replace expiring contracts. Over the longer term, there continues to be underlying and increasing demand building, as the globe continues a push toward carbon-free energy goals. Those goals will require the 24/7, base load, clean energy that nuclear power provides as part of the overall supply mix. A good example of that policy messaging came from Japan's energy minister, who recently said he considers nuclear energy "indispensable" if the country is to meet its net-zero carbon emission goals.
Exacerbating the overall supply picture, lead times for new production typically range from seven to 10 years or longer. The market appears to be within the time frames required for investment to bring new supply online to meet those lead times. However, prices are not yet at levels that incentivize future production, increasing the probability of the potential for less supply than the market is currently pricing in. All things considered, UEC believes the supply and demand fundamentals should continue to exert upward pressure on uranium prices.
Management Team
Spencer Abraham is Chairman of the Board for UEC. He served as the 10th U.S. Secretary of Energy from 2001 to 2005. He is an honors graduate of Michigan State University and Harvard Law School, and he was a law professor at the Thomas M. Cooley School of Law. He was elected chairman of the Michigan Republican Party in 1983 and later served as deputy chief of staff in the office of the vice president and as co-chairman of the National Republican Congressional Committee. In 1994, Mr. Abraham was elected to the United States Senate from Michigan and has also served as a director of Occidental Petroleum and as the non-executive chairman of AREVA's U.S. board.
Amir Adnani is the Chief Executive Officer, President and Director of Uranium Energy. He advanced the company from concept to United States production within its first five years. Mr. Adnani has developed an extensive pipeline of low-cost and near-term production projects. He is the founder and Chairman of GoldMining Inc. (TSX: GOLD) (OTCQX: GLDLF), a gold-resources acquisition and development firm. He is also the Chairman of Uranium Royalty Corp. (TSX.V: URC). Mr. Adnani holds a Bachelor of Science from the University of British Columbia. He is a director of the University's Alumni Association.
Scott Melbye is the company's Executive Vice President. He is a 36-year veteran of the nuclear energy industry and has held numerous leadership positions in major uranium mining firms. He is also the current President, CEO and Director of Uranium Royalty Corp. He is an advisor to the Nuclear Energy Program at the Colorado School of Mines. Prior to his work at Uranium Participation Corp., Mr. Melbye worked for Cameco Inc. for 22 years. He received a Bachelor of Science in Business Administration with a specialization in International Business from Arizona State University in 1984.
Bruce Nicholson is the company's Vice President of Corporate Development. He has spent 16 years as a specialist in the industry, serving major United States and European banks, broker-dealers and investment funds. Mr. Nicholson is a member of the Minerals Economics and Management Society, Minerals Industry Analyst Group, and the New York Society of Securities Analysts. He graduated with an MBA in Finance from Rutgers University in 1995 and is a CFA charter holder.
VistaGen Therapeutics Inc. (NASDAQ: VTGN)
VistaGen Therapeutics Inc. (NASDAQ: VTGN) is a biopharmaceutical company committed to developing and commercializing a new generation of medications that go beyond the standard of care for anxiety, depression and other central nervous system (CNS) disorders.
The company is headquartered in South San Francisco, California, the "Birthplace of Biotechnology," among the largest cluster of biotechnology companies in the world.
New Generation Medications
VistaGen currently has three innovative CNS drug candidates in its pipeline: PH94B, PH10 and AV-101. With a differentiated mechanism of action and an exceptional safety profile in all clinical studies to date, each of VistaGen's three drug candidates offers significant commercialization potential in multiple large CNS markets.
PH94B
Fast-acting (10-15 minutes), non-systemic and non-sedating in Phase 2 clinical studies, PH94B is a first-in-class neuroactive nasal spray that, administered in microgram doses, binds to chemosensory receptors in the nasal passage that trigger neural circuits responsible for suppressing fear and anxiety caused by stressful social or performance situations.
PH94B is currently being developed as an acute treatment of anxiety in adults with Social Anxiety Disorder (SAD). In December 2019, PH94B became the first drug candidate to be granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for development of a treatment for SAD, positioning it to potentially become the first FDA-approved fast-acting acute treatment for adults with the anxiety disorder, if planned Phase 3 studies are successful.
A successful Phase 2 program has been completed, and, after achieving consensus with the FDA in mid-2020 that the design of its Phase 3 studies of PH94B in SAD may mirror the design of the highly statistically significant (p=0.002) Phase 2 public speaking study of PH94B in SAD, the company's preparations for pivotal Phase 3 clinical development of PH94B are underway.
To support Phase 3 development and commercialization of PH94B for anxiety disorders in large anxiety disorder markets in Asia, VistaGen recently entered into a strategic licensing and collaboration agreement with EverInsight Therapeutics, a company formed and currently funded by a large global venture capital firm, CBC Group. The company received a $5 million non-dilutive upfront license payment from EverInsight in August 2020. If Phase 3 development is successful, VistaGen is eligible to receive additional development and commercial milestone payments of up to $172 million, plus tiered royalties on sales of PH94B in Greater China, South Korea and Southeast Asia. VistaGen retains exclusive rights to develop and commercialize PH94B in all other markets.
VistaGen is also assessing potential Phase 2A clinical development opportunities to evaluate PH94B in a range of other anxiety disorders, including:
PH10
PH10 is an investigational fast-acting synthetic neuroactive nasal spray with therapeutic potential in a wide range of neuropsychiatric indications involving depression and suicidal ideation. VistaGen is initially developing PH10 as a potential fast-acting, non-sedating, non-addictive new generation treatment of major depressive disorder (MDD).
Upon self-administration, a microgram-level dose of PH10 sprayed into the nose binds to nasal chemosensory receptors that, in turn, activate neural circuits in the brain that lead to rapid-onset antidepressant effects, without side effects, systemic exposure or safety concerns that may be caused by FDA-approved drug treatments for MDD, including oral antidepressants and intranasal esketamine.
In a published exploratory Phase 2A MDD study, PH10 demonstrated rapid-onset and sustained antidepressant effects without the serious psychological side effects and safety concerns of ketamine-based therapy.
Following successfully completed Phase 2A development of PH10 for MDD, the company is currently preparing for a Phase 2B program in MDD.
VistaGen is also assessing the potential for Phase 2A clinical development of PH10 in a range of other depression-related indications, including:
AV-101
Part of a class of new generation investigational medicine in neurology and neuropsychiatry known as N-methyl-D-aspartate receptor (NMDAR) modulators, AV-101 is an oral prodrug of 7-chloro-kynurenic acid (7-Cl-KYNA), a potent and selective NMDAR glycine site antagonist. This drug candidate has the potential to serve as an innovative treatment for MDD and multiple neurological indications where current therapies are unsatisfactory.
VistaGen is currently evaluating AV-101, in combination with FDA-approved probenecid, in a range of neuropsychiatric and neurological indications, with both MDD and Neuropathic Pain already granted Fast Track designation by the FDA. The company is assessing the combination for a potential Phase 1B study to support a potential Phase 2A program in one or more of the following indications:
CNS Therapeutics Market Outlook
The global CNS therapeutics market is estimated to reach $130 billion by 2025. The market was valued at approximately $82.3 billion in 2017 and is anticipated to grow at a healthy CAGR of more than 5.93% from 2018 to 2025. Even before the onset of the anxiety- and depression-provoking stressors from the COVID-19 pandemic, this growth was expected to be driven by a rise in mental illnesses and increased awareness of psychiatric disorders (https://nnw.fm/K2m0s) – all likely to be amplified by the diverse impacts of the pandemic.
The two most common mental health conditions – anxiety and depression – cost the global economy an estimated $1 trillion each year. The impact of these conditions is particularly devastating among the young. Industry data suggest that approximately 20% of the world's children and teens are affected by mental health conditions, and suicide is the leading cause of death among 15- to 29-year-olds (https://nnw.fm/oftNb).
VistaGen's mission is to help address the unmet needs of patients suffering from CNS disorders whose current treatments are either inadequate or generate debilitating side effects and serious safety concerns, including risk of abuse and death.
"Now more than ever, the new generation anti-anxiety and antidepressant medications we are developing at VistaGen – PH94B, PH10 and AV-101 – are relevant, necessary and demand the highly-focused and passionate efforts of our team and partners, with the support of our stockholders, to advance them to patients whose lives are disrupted by anxiety and depression disorders," VistaGen CEO and Director Shawn K. Singh said in his closing remarks at the company's 2020 Annual Meeting of stockholders.
Management Team
Shawn K. Singh, J.D. is the Chief Executive Officer and a Director of VistaGen. He has served on the company's board of directors since 2000. He has nearly 30 years of experience serving in numerous senior management roles across multiple industries, including private and public biotechnology, pharmaceuticals, medical devices, venture capital, contract research and development, and law. Singh has a B.A. with honors from the University of California – Berkley. He has a J.D. degree from the University of Maryland Carey School of Law. He is also a member of the State Bar of California.
H. Ralph Snodgrass, Ph.D., is the Founder, Chief Scientific Officer and Director of the company. Snodgrass has more than 20 years of experience in the biotechnology field as a senior manager. He is recognized as an expert in stem cell biology, with over 28 years of experience using stem cells as biological research tools to promote development and drug discovery. He received a Ph.D. in immunology from the University of Pennsylvania. Snodgrass has published over 50 scientific papers with more than 17 patents and a number of patent applications.
Mark A. Smith, M.D., Ph.D., is VistaGen's Chief Medical Officer He has over 20 years of pharmaceutical industry experience, primarily with CNS drug development. Smith has been a successful leader in the discovery and development of approximately 20 investigational new drugs. He has been a part of numerous CNS-related clinical trials. Smith received a bachelor's and Master of Science from Yale University and a Doctor of Medicine and Doctor of Philosophy in Physiology and Pharmacology from the University of California – San Diego. He completed his residency in the psychiatry department at Duke University Medical Center.
Jerrold D. Dotson, CPA, is the Vice President, Chief Financial Officer and Secretary of VistaGen. He has over 25 years of experience in senior management positions in finance and administration at both public and private companies. Dotson is a licensed CPA in California and received his B.S. degree (Cum Laude) in business administration with a concentration in accounting from Abilene Christian College.
Mark A. McPartland is the company's Vice President of Corporate Development and Investor Relations. He has over 20 years of experience in senior management roles in corporate development and investor relations at both public and private companies. McPartland received his Bachelor's in business administration and marketing from Coastal Carolina University.
Vivos Therapeutics Inc. (NASDAQ: VVOS)
Headquartered in Denver, Colorado, Vivos Therapeutics Inc. (NASDAQ: VVOS) is an emerging global leader in the treatment of mild-to-moderate obstructive sleep apnea (OSA), a debilitating condition affecting nearly 1 billion people worldwide. The company utilizes proprietary, ground-breaking technology, a proven go-to-market strategy, and a powerful executive team dedicated to changing the face of health care by helping people of all ages properly breathe and sleep.
At the core of Vivos' mission to rid the world of mild-to-moderate OSA is the Vivos System®, a revolutionary clinical breakthrough in the treatment of mild-to-moderate sleep apnea often caused by craniofacial anatomy development. The Vivos System® multidisciplinary treatment protocol involves collaboration between physicians, specially-trained dentists who have completed advanced training in craniofacial sleep medicine, and other ancillary health care providers.
In support of its growth strategy, Vivos has established contract manufacturing facilities in the U.S., Canada and Asia.
Market & Technology Overview
Craniofacial developmental deficiencies, such as underdeveloped upper and lower jaws, are among the leading causes of OSA. According to a 2019 analysis from researchers at the University of California, San Diego, an estimated 81 million adults in North and South America suffer from moderate to severe OSA. The United States has the highest amount of these patients, with approximately 54 million adults affected, according to the report.
Registered with the FDA as a Specification Developer, Vivos develops and markets a number of oral appliances. Its technology represents the first non-surgical, non-invasive and cost-effective treatment for the estimated hundreds of millions of people globally who suffer from mild-to-moderate OSA.
Vivos integrates its specially designed, customized appliances into a patient-specific, multi-disciplinary clinical protocol, giving trained dental and medical providers the tools and roadmap needed to address certain craniofacial conditions that studies have shown to be associated with sleep-disordered breathing—including mild-to-moderate OSA.
The system's treatment protocol involves collaboration between physicians, specially trained dentists who have received advanced training in craniofacial sleep medicine, and additional health care providers. Vivos-trained clinicians can be found in almost every major city in the U.S. and in many countries throughout the world. The company's oral appliances have shown to be effective in over 15,000 patients successfully treated worldwide by approximately 1,200 trained dentists.
A New Paradigm in Sleep Medicine
Vivos' proprietary system poses the potential to be the biggest breakthrough in the treatment of mild-to-moderate OSA since CPAP.
The Vivos System has been specifically designed to promote the proper growth and development of the hard and soft tissues surrounding and comprising the oral cavity, nasal cavity, upper and lower jaws, and other tissues which together form and shape the upper airway. As these areas develop more fully using the Vivos System, a patient's airway typically widens and expands, enabling them to breathe properly through their nose. With a more open and less obstructed airway, and easier nocturnal breathing, the symptoms of SDB tend to diminish over time, and patients often report they no longer suffer from the adverse effects of SDB or OSA.
Use of the Vivos System is variable and case dependent, but typically recommended to be worn daily for 12 to 16 hours starting in the early evening and continuing overnight. The total treatment time typically ranges from 12 to 24 months, with 18 months being the approximate mean treatment time.
Biomimetic Oral Appliance
Vivos Therapeutics believes that the Vivos System technology represents the first non-surgical, non-invasive and cost-effective treatment for people with mild-to-moderate OSA.
Combining technologies and protocols that can alter the size, shape and position of the tissues of a patient's upper airway, the Vivos System opens airway space and can significantly reduce symptoms and conditions associated with mild-to-moderate OSA.
The Vivos System treatment is typically less than $10,000 and is often reimbursable by medical insurance as an out-of-network benefit.
A potentially serious medical problem with an alternative treatment therapy available in the dental office.
Hard and soft tissues of the craniofacial complex can be non-surgically enhanced using the proprietary Vivos® System devices and clinical protocols.
Leadership
R. Kirk Huntsman – CEO, Director
With experience in strategic development, technology acquisition and product planning, key talent recruitment, and target market prioritization, Huntsman brings a broad vision paired with leadership and strategic planning skills. He has significant start-up experience in a diverse range of market sectors, including medical devices, dental management, dental practice valuations and transitions, multi-location retail, financial and capital formation, consulting, outsourced services, imports and exports (China), medical services, and software and technology.
Dr. Dave Singh – Founder, Director
A doctor three times over in dental medicine, craniofacial development, and orthodontics, Dr. Singh was educated primarily in England and has lectured in North America, Europe, Asia, and Africa. The Global Summits Institute recently named Dr. Singh as one of the Top 100 Doctors in Dentistry.
XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT)
XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) is a bioscience accelerator focused on next-generation drug delivery, diagnostic and new active pharmaceutical ingredient investment opportunities. This includes products that are being readied for commercialization within the coming weeks, such as a rapid COVID-19 PCR test kit that reduces turnaround times to less than 30 minutes.
The company has research and development operations in North America and Europe and an operational focus in Germany. Its regulatory approval and commercialization focus is currently on products for the European market.
XPhyto was founded in 2017 and is headquartered in Vancouver, British Columbia.
Business Strategy & Milestones for 2021
On January 18, 2021, XPhyto issued a news release detailing its business strategy for the coming year. The company noted that it is "on the cusp of transformational change as product development programs advance from the laboratory to the clinic." In addition to continuing to leverage its scientific expertise and operations in North America and Europe for product development and optimization, XPhyto intends to pursue growth through the commercialization of existing products and adherence to a focused investment strategy targeting impact-driven innovation with "the potential for extreme value creation."
In particular, XPhyto is well positioned to execute on opportunities across its current business divisions, including:
"2020 was a very productive year for XPhyto. We made significant progress in all areas of our business," Hugh Rogers, CEO & Director of XPhyto, stated in the update. "We have ambitious milestones for 2021 with multiple product launches on the horizon, multiple clinical drug programs underway, and an aggressive commitment to psychedelic medicine. I am extremely confident that our team can execute on the company's business plan for 2021."
Infectious Disease Diagnostics
XPhyto's lead diagnostic product, secured through an exclusive global commercialization agreement with 3a-diagnostics GmbH ("3a"), is a rapid and highly portable PCR diagnostic test. Notably, PCR testing "has emerged as the only internationally recognized standard for COVID-19 testing" and is expected to play a key role in facilitating the recovery of the domestic and international travel industries, among others.
Successful validation of the PCR system was achieved in Q4 2020, and XPhyto has expressed confidence that it will achieve European commercial (CE-IVD) approval in Q1 2021. In preparation for this milestone and an anticipated Q1 product launch, the company is currently in discussion with manufacturing and distribution partners in Europe and the Middle East.
In addition to COVID-19 products, XPhyto and partner 3a are developing and commercializing a portfolio of low-cost oral biosensors. The company's lead biosensor product is an oral health screening test for the detection of peri-implantitis for which XPhyto is targeting a late 2021 European commercial approval.
XPhyto does not make any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 pandemic.
Drug Formulation & Delivery
In 2020, XPhyto's German subsidiary, Vektor Pharma TF GmbH ("Vektor"), reported significant advancement in four therapeutic programs targeting neurological indications with significant market demand. Vektor also successfully developed a sublingual drug formulation on contract for a major generic drug manufacturer and distributor.
XPhyto will look to build on this progress in 2021, with plans to complete human pilot studies evaluating its four lead therapeutic products:
Per its 2021 business update, the company is currently in "ongoing discussions with multiple potential commercial partners, licensors and distributors and will be reviewing monetization opportunities on a continued basis."
Psychedelic Medicine
Psychedelic compounds are a highly promising new class of active pharmaceutical ingredient ("API") demonstrating strong potential for a variety of mental health conditions. XPhyto is positioned to capitalize on this promise through two strategic initiatives:
XPhyto intends to advance and expand its programs focused on the industrial scale production of psychedelic API in 2021. The company also plans to launch new programs for the development of psychedelic drug formulations, with a focus on sublingual and transdermal therapeutics and the integration of these products into established clinical programs relating to mental health indications.
Management Team
Hugh Rogers is the CEO and Director of XPhyto Therapeutics Corp. He is an entrepreneur and lawyer with private and public start-up company experience in various industries and operational roles. His recent advisory work has focused on public listings and corporate restructuring. This restructuring has occurred in the life science (cell therapy and medical device) and natural resources (natural gas co-gen and conventional oil) industries. Mr. Rogers holds a bachelor's degree in Cellular Biology and Genetics and a law degree. He is a member in good standing of the Law Society of British Colombia.
Christopher Ross is the CFO of XPhyto. He is a professional accountant with broad financial experience across numerous industries, including forestry, distribution, construction, mining and multi-family real estate. He has provided advisory services to private and public companies in the areas of financial accounting, strategic analysis, audit and taxation. Mr. Ross holds a bachelor's degree in commerce. He is a member in good standing with the Chartered Professional Accountants Association of British Columbia.
Wolfgang Probst serves as Director of XPhyto and Managing Director of BUNKER Pflanzenextrakte GmbH. He is a seasoned management and financial consultant based in Bavaria, Germany. He has consulting experience as branch head working with private clients and corporations of high net worth. In 2017, Mr. Probst assumed the CFO role of BUNKER and continues to play a key role in its operational and financial development.
Professor Dr. Raimar Löbenberg serves as Director of XPhyto. He holds a Bachelor of Science in pharmacy from Johannes Gutenberg-University and a Ph.D. in pharmaceutics from the Johann Wolfgang Goethe-University. He is the co-founder of RS Therapeutics Inc., which concentrates on foam-based topical drug delivery systems.
Professor Dr. Thomas Beckert is the Founder and Managing Director of Vektor Pharma TF GmbH. His expertise includes the formulation and machine development of transdermal therapeutic systems and ODFs. Professor Beckert holds a Bachelor of Science in pharmacy from the University of Freiburg and a Ph.D. in pharmacy and economics from the University of Tubingen.