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Simplicity Esports and Gaming Company (OTCQB: WINR) has entered into an exchange agreement with Diverted River Technology, LLC, in which Simplicity Esports agreed to acquire 100% of the membership interests of Diverted River in exchange for 80% of the issued and outstanding shares of Simplicity Esports’ common stock. It is expected that, Simplicity Esports’ name will be changed to Diverted River Technology, Inc., and the business of Simplicity Esports will become that of Diverted River, an ETO focused on a sustainable, high margin, recurring revenue business model.
WINR owns five esports gaming centers and is the franchisor for twelve esports gaming centers. Following the Closing, Diverted River will become a wholly owned subsidiary of the Company and it is expected that the Company’s name will be changed to Diverted River Technology, Inc., and the business of the Company will become that of Diverted River, an ETO focused on a sustainable, high margin, recurring revenue business model that requires limited capital expenditures.
WINR was up over 600 % this past Thursday after the Company announced the reverse merger with Diverted River; an ETO for the location-based entertainment (LBE) industry. Diverted River provides integration through their proprietary cloud-based user platform called Takoha into a multitude of entertainment, business, data, and management systems to help managers and owners of LBEs provide a seamless experience for their customers while compiling all their customers’ data in one analytics system.
It is also expected that Mr. Johnson, Diverted River’s CEO, will become CEO of the public company following the closing. The transaction, which is expected to close prior to yearend.
InnerScope Hearing Technologies Inc. (OTCPNK: INND) expects to benefit now that the FDA has released the “Final Rule” creating a new category of Over-the-Counter hearing aids for perceived mild to moderate hearing losses to be sold directly to consumers in retail stores, pharmacies and online without a medical exam or being fitted by a hearing healthcare professional. InnerScope, with its Network of Wholesale Retailers, believes it is well-positioned and poised to take be the leader in the new emerging OTC hearing aid market.
INND plans to register its hearing aid products, which include its HearingAssist and iHear branded hearing aid products, as OTC Hearing Aids in compliance with the FDA’s Final Rule and will be offered to its current and future Network of Wholesale Retailers to be sold in-store right off the shelf and online through each retailers’ website.
InnerScope’s OTC Hearing Aid Products are expected to be priced between $499 to $1,500 a pair. InnerScope, with its Network of Wholesale Retailers, its unique selling proposition with its in-store 3 to 5-minute Free Self-administered Automated Point of Sale Hearing Screening Kiosk and online hearing screening software for the retailers’ customers, believes it is well-positioned to succeed in the new OTC environment.
Last week American Virtual Cloud Technologies, Inc. (NASDAQ: AVCT) announced that it intends to affect a 1-for-15 reverse stock split of its issued and outstanding shares of common stock. The company’s common stock is expected to begin trading on a split-adjusted basis when the market opens on October 3, 2022. AVCT operates under the Kandy brand name and operates cloud-based communications marketplaces for telecom carriers.
AVCT’s most important business unit is Kandy Solutions, acquired in December 2020. Kandy provides a cloud-based platform for Unified Communications as a Service (UCaaS), Contact Center as a Service (CCaaS), and Communications Platform as a Service (CPaaS), and Microsoft Teams Direct Routing (DRaaS). That’s a lot of alphabets, but it means the company’s cloud-based platform has attracted hundreds of customers including Microsoft, AT&T, Etisalat, Bradio, and IBM.
The company has experienced a recent shakeup of top management. As I write this article, the AVCT share price is $.20/share with a market cap of $25M. In April of 2021, the company received an unsolicited offer to buy the company at $9.00/share and that offer didn’t happen.
The total addressable market for cloud communications is on track to expand from $58 billion in 2021 to $100 billion in 2025. With revenues of $19.4M (ttm) and a current market cap of only $29M, it may not be long before a potential buyer approaches AVCT.
Anavex Life Sciences Corp. (NASDAQ: AVXL) recently announced that the USPTO issued a patent to Anavex, with claims to treatment methods using its leading drug candidate, ANAVEX®2-73. The company believes that their drug candidate could treat disorders, including but not limited to, Rett syndrome, Angelman syndrome, Williams syndrome, cerebral palsy, autism spectrum disorder, and multiple sclerosis.
Anavex has two big catalysts coming up, both in Alzheimer’s disease and Parkinson’s Disease Dementia. The big upcoming event here is a readout of Anavex’s top-line data readout of a potentially pivotal phase 2b/3 clinical trial in Alzheimer’s, which is expected in the fall of 2022. That readout should be followed by data from a Phase 2 study in Parkinson’s Disease Dementia (PDD), and by a potentially pivotal Phase 2/3 study in Rett disease.
The estimated total healthcare cost for the treatment of Alzheimer’s disease in 2020 is estimated at $305 billion, and that figure is expected to increase to more than $1 trillion as the population ages. The Parkinson’s market is expected to triple by 2029, with sales expected to reach $11.5 billion.
Anavex’s cash position on June 30, 2022, was $153.2 million. The company believes it has sufficient cash runway for the next four years. Institutions hold 34% of Anavex shares.
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