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Saturday, July 2, 2022

Ekso Bionics Holdings, Inc. (OTCBB: EKSO) Moving on Strong Volume Figures

Ekso Bionics Holdings, Inc. (OTCBB: EKSO) is making an explosive move up on accelerating volume after the stock recently did a retest of support just over $1. The Company said they will be featured on two separate panels at the International Consumer Electronics Show (CES).

All the excitement on EKSO started on October 2 when they announced that they were selected by Boston Dynamics, now part of Google, to continue developing technologies for Defense Advanced Research Projects Agency’s (DARPA’s) Warrior Web Task A project.

EKSO BIONICS HOLDING (OTCBB:EKSO) may trade on the OTCBB but the Company operates more like a Big Board Stock than a microcap. Since inception there has been no known promotion of EKSO yet the stock trades millions. As well the Company has the proven ability to raise large sums of money; EKSO went public through a reverse merger in January simultaneously raising $20.6 million through a bridge debt transaction.

Ekso Bionics Holdings, Inc. (OTC: EKSO) has been pioneering the field of robotic exoskeletons, or wearable robots, to augment human strength, endurance and mobility. The company’s first commercially available product called Ekso has helped thousands of people living with paralysis take millions of steps not otherwise possible. By designing and creating some of the most forward-thinking and innovative solutions for people looking to augment human capabilities, Ekso Bionics is helping people rethink current physical limitations and achieve the remarkable.

EKSO was initially incorporated in Nevada in 2005 and used to trade as PN Med Group Inc. The Company had planned to distribute medical supplies and equipment to municipalities, hospitals, pharmacies, care centers, and clinics throughout the country of Chile. In January of this year Ekso Bionics Holdings, Inc. went public via reverse merger with PN Med Group Inc. The Company also affected a 3.462 for 1 split forward split of the stock.

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Currently, Ekso Bionics is in collaboration with Lockheed Martin (NYSE:LMT), the exclusive contractor of the US military, in an attempt to provide exoskeletons for military purposes. Many EKSO investors are overlooking this opportunity. The military market could be the secondary market that not only raises awareness of EKSO’s bionic skeleton, but also advances the function of the technology.

Originally Berkeley Bionics, Ekso Bionics was founded in Berkeley, California in 2005. Since inception Ekso Bionics has forged partnerships with world-class institutions like UC Berkeley, received research grants from the Department of Defense and licensed technology to the Lockheed Martin Corporation.

Ekso™ is a wearable bionic suit which enables individuals with any amount of lower extremity weakness to stand up and walk over ground with a natural, full weight bearing, reciprocal gait. Walking is achieved by the user’s weight shifts to activate sensors in the device which initiate steps. Battery-powered motors drive the legs, replacing deficient neuromuscular function.

The Ekso GT robotic exoskeleton is a Class I medical device (United States FDA), Class I medical device (Australia), and Class IIa medical device (European Union, CE) Class 1 by Health Canada which provides functional based rehabilitation, over ground gait training, and upright, weight bearing exercise under the supervision of a physical therapist. It has been designed for the needs of busy therapists treating a wide range of patients in a single day. The suit is strapped over the users´ clothing with easy adjustments to transition between patients in as little as five minutes.

As touched on earlier EKSO announced on October 2 that it was selected by Boston Dynamics, now part of Google, to continue developing technologies for Defense Advanced Research Projects Agency’s (DARPA’s) Warrior Web Task A project. Ekso received a subcontract from Google for the project, in which Ekso Bionics will retain rights to its proprietary intellectual property. This extends the collaboration previously created from the selection of Ekso Bionics by Boston Dynamics in support of this important program in 2013 and brings the total amount of the grants awarded in the last twelve months to Ekso Labs™, the engineering services division of Ekso Bionics, to $4.5 million of non-dilutive funding.

Testing for the Warrior Web Task A project culminated last week with six soldiers marching through 84 miles of obstacle filled terrain, carrying large loads, weapon and helmet. There were no incidences of failure reported. This lightweight, wearable, low power, assistive technology will help advance the capabilities of current and future Ekso Bionics product offerings in medical, industrial, consumer and military markets.

On November 24 EKSO said that that warrant holders have elected to exercise 22.8 million of their $2.00 warrants at a reduced exercise price of $1.00 per share, providing $22.8 million in gross proceeds to Ekso Bionics. Additionally, Ekso Bionics has received approval of a majority of the Company’s warrant holders to remove the price-based anti-dilution provisions from the outstanding warrants, simplifying the Company’s path to a future up-listing onto a primary exchange.

Conclusion: Since hitting the OTCBB in January of this year EKSO has been highly volatile showing us its ability to move and inspire investors to buy this stock to the next level. Since those heady days when EKSO was trading over $8 per share at a market valuation in the hundreds of millions the stock has fallen in dramatic fashion recently making an all-time low of $0.753 per share.

EKSO fantastic run to over $8 per share took the Company’s market valuation to well over $500 million. The spectacular rise was in large part due to highly positive Seeking Alpha articles which hyped the stock. The aftermath was not pretty at all with EKSO falling by more than 90% to well under $1.

Since EKSO hit lows of $0.753 at the beginning of October the stock has been moving steadily upwards its market valuation increasing from under $60 million to current $130 million but the stock still looks very attractive and ripe for continued upside. EKSO ability to raise capital proves just how real this Company is. EKSO is very real and it’s at the ground floor stages with some serious potential.

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Disclosure: we hold no position in EKSO either long or short and we have not been compensated for this article.

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