Commodity prices are rising at a break neck pace. We have recently reported on Oil and Wheat now let’s talk about Copper!
Developing EV distributor Elektros Inc. (OTCPNK: ELEK) is working on distribution of its Elektros Sonic Vehicles and delivery is anticipated early this summer from manufacturer Jinpeng Group. ELEK also advised they were able to further negotiate their contract with Jinpeng Group to add on unique luxury automotive parts and Elektros Sonic branded accessories. Elektros is working closely with Jinpeng and hopes to finalize exclusive U.S. rights with the company in the near term. As previously announced, Elektros Inc. will submit the electric vehicles to be crash test approved by the U.S. Department of Transportation upon delivery. The company aims to present Elektros Sonic to consumers beginning as early as 2023.
In January ELEK announced that the company has signed a Letter of Intent to merge with EV Rent a Car LLC. This merger sets milestones in the era of electric mobility and paves the way to revolutionize sustainability in the automotive industry. Both companies see this opportunity as a way to unite their business models and expedite their future vision of the electric vehicle industry.
Generic drug manufacturer Elite Pharmaceuticals, Inc. (OTCQB: ELTP) operates a cGMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ. Three weeks ago, ELTP announced results for Q322 (FYE is March 30). Consolidated revenues for the Third Quarter were $9.0 million, an increase of $2.9 million or 48% as compared to the corresponding period of the prior year, primarily due to stronger sales of Amphetamine IR Tablets and Amphetamine ER Capsules. Operating profits of $1.8 million, an increase of $0.8 million from the comparable period of the prior year, and net income was $2.3 million. The company has a portfolio of eleven drugs it produces. ELTP is also developing a branded opioid product called SequestOxTM (ELI-200) for pain. The company has submitted a New Drug Application with the FDA that is pending approval.
Digital World Acquisition Corp. (NASDAQ: DWAC) is a SPAC that is merging with Trump Media & Technology Group with an app called Truth Social. The former President set up Trump Media & Technology Group shortly after leaving office in 2021. Trump’s social-media venture, a business that has offered few details, according to a Wall Street Journal report. Supporters are heralding its takeoff. In December, Trump Media & Technology Group named former Republican Rep. Devin Nunes, a longtime ally of Trump, as chief executive of the social-media venture, according to the report. Donald Trump’s Truth Social app is now live as of February 20, 2022. DWAC with a current market cap of $3.6B, now has an astounding $18.4 billion market capitalization on a pro forma basis. This is because of a huge spike in DWAC stock to $95.15 as of March 2nd. Once the merger closes later in 2022 with TMTG, the parent company of Truth Social, DWAC stock will have this huge market cap. Obviously, it assumes that the app will be able to pick up tens of millions of users. This is based on the company’s original slide deck which indicates that in 2023 and 2024, Truth Social will pick up 10.3 million and 14.6 million subscribers, respectively.
Leronlimab developer CytoDyn Inc. (OTCQB: CYDY) is experiencing a management shake-up at the very top. The Board of Directors terminated the employment of Nader Z. Pourhassan, Ph.D., as President and CEO of the Company and he is no longer a member of the Board of Directors, effective January 24, 2022. Antonio Migliarese, currently CytoDyn’s Chief Financial Officer, has been appointed interim President. Additionally, Scott A. Kelly, M.D, Chairman of the Board and Chief Medical Officer has stepped down as Chairman but will remain on the Board of Directors. The Board has elected Tanya Durkee Urbach, an independent director who has experience in corporate governance, corporate finance, business growth and securities litigation, compliance, and regulatory issues, as Chairman of the Board.
The target of Leronlimab (PRO 140) is the important immunologic receptor CCR5. The CCR5 receptor is a protein located on the surface of a variety of cells including white blood cells and cancer cells. On white blood cells, it serves as a receptor for chemical attractants called chemokines. We are waiting to see if a new management team can accelerate the drugs approval.
Commodity prices are rising at a break neck pace. We have recently reported on Oil and Wheat now let’s talk about Copper!
Disclosure
Traders News Source LLC (TNS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering small and micro-cap equity markets. TNS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE, NASDAQ, and OTC exchanges. The other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
TNS LLC has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES
The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third-party research service company (the “Reviewer”) represented by a chartered financial analyst, for further information on analyst credentials, please email editor@tradersnewssource.com. TNS LLC provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written, and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author per the procedures outlined by TNS.
TNS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents, or reports. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
TNS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake, or shortcoming. No liability is accepted whatsoever for any direct, indirect, or consequential loss arising from the use of this document.
TNS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, TNS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness, or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither TNS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit https://www.tradersnewssource.com.
For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer be featured on our coverage list, contact us via email at: editor@tradersnewssource.com
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
CONTACT:
editor@tradersnewssource.com
SOURCE: Traders News Source
