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Enzolytics, Inc. (ENZC) Running Hard As Co Partners With Intel to Publish White Paper on AI Artificial Intelligence Targeting Monoclonal Antibodies

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2 years ago

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Enzolytics, Inc. (ENZC) is making a powerful move up the charts in recent days since a brief dip below the $0.10 mark. ENZC is a major league runner and powerhouse stock; over the past few months ENZC has seen a legendary run to recent highs of 0.958 per share as it completes the historic merger between BioClonetics and Enzolytics; the new biotech is getting noticed as its technology for producing fully human monoclonal antibodies is currently being employed to produce anti-SARS-CoV-2 (CoronaVirus) monoclonal antibodies for treating COVID-19. With each day of progression of the Coronavirus pandemic, the dire need for multiple active therapeutics becomes more evident. ENZC is a pioneer in using monoclonal antibodies for treating COVID-19. A break over $0.958 and its blue skies ahead for ENZC.

ENZC has partnered with Intel to publish a white paper titled, “Optimizing Empathetic A.I. to Cure Deadly Diseases,” highlighting Intel’s Artificial Intelligence Analytic tools and Enzolytic’s innovative approach and groundbreaking contributions to create universal, durable, and broadly effective treatment targeting all virus variants. This collaborative effort approaches the future of medicine; a future wherein the process of healthcare evolves from reactive to anticipatory, as exemplified by P4 Medicine. The conclusion described in the White Paper is that Enzolytics Inc’s use of Artificial Intelligence underscores a novel approach in assessing millions of virus sequences to identify the conserved segments essential for virus survival. Through effective public and private sector symbiosis and the fostering of a technology-neutral regulatory environment, the genuine power of A.I., coupled with advanced techniques in proprietary technologies illustrated in the Enzolytics immunotherapeutics, will no doubt create universal, durable, and broadly effective treatment targeting all virus variants. This was followed by the news that ENZC has identified conserved, expectedly immutable sites on the HTLV-1 virus against which it will produce targeted anti-HTLV-1 monoclonal antibodies (mAbs). Utilizing the Company’s proprietary Artificial Intelligence (AI) methodology, conserved target sites have now been identified against which fully human anti-HTLV-1 monoclonal antibodies will be produced in its lab on the campus of Texas A&M University in the University’s Institute for Preclinical Studies. The Company’s own Artificial Intelligence team continues to identify the critical sites on viruses against which monoclonal antibodies will be produced to treat infectious viral diseases.

Enzolytics, Inc. is a drug development company committed to the commercialization of its proprietary proteins for the treatment of debilitating infectious diseases. ENZC has been rapidly building up an intellectual property portfolio filing numerous patents last year. Most recently, last month, the Company reported it has received the official filing receipt from the U.S. Patent Office confirming the filing of its patent application for “Nuclear Proteins Isolated from Mammalian Spinal Cord Immune Factor – Pharmaceutical Composition for Treatment.”  Since than the ENZC has filed a number of new applications. The Company recently merged with BioClonetics Immunotherapeutics, Inc., now a wholly owned subsidiary of Enzolytics; a Dallas and College Station, Texas biotech company with proprietary technology for producing fully human monoclonal antibodies (mAbs) against infectious diseases. 

Microcapdaily has been reporting on the ENZC BioColnetics merger since the beginning recenlty stating: “Enzolytics Inc. ENZC: is making a highly explosive move up the charts recently surpassing $0.50 per share and regularly topping $25 million USD per day in dollar volume ENZC has transformed into a major league runner in small caps. Enzolytics and its new subsidiary BioClonetics own licensing rights of the Irreversible Pepsin Fraction peptide molecule for the treatment of HIV/AIDS a market expected to be worth $30 billion plus by 2025. The Company produces targeted (nontoxic) monoclonal antibodies and is now advancing two separate but complementary therapy platforms for treating infectious diseases, targeting HIV and the CoronaVirus. Enzolytics has attracted a major league level management team behind it and has expanded its lab capabilities on the Texas A&M University campus at the Institute for Pre-clinical Studies, where it is producing both addition monoclonal antibodies against HIV and the against covid-19. This expansion allows Enzolytics to complete the production of monoclonal antibodies against both the HIV virus and the coronavirus and collaborate with the biopharma experts on the campus. Microcapdaily first reported on ENZC the day after the merger was announced in our article: “BioClonetics LOI Sparks Enzolytics Inc (OTCMKTS: ENZC)” on September 16 when ENZC was trading for well under $0.01  

Enzolytics has quickly attracted a power house team behind it which speaks of big things to come here. They recently appointed Ronald Moss, M.D., to the Medical Advisory Board. Mr. Moss has been an executive with numerous biotech’s over the past 25 years. He has extensive clinical and regulatory management expertise in guiding programs through Phase I, II, and III clinical trials, including IND and NDA experience. The Company’s Chief Science Officer, Mr. Henry Zhabilov has managed several clinical trials utilizing therapeutic proteins. He is the inventor of several U.S. patents related to the immunotherapy of HIV and cancer and an immune enhancer based on the company’s IPF platform. 

https://twitter.com/yatesinvesting/status/1400803635475402760

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May has been a big month for ENZC; On May 12 Enzolytics announced it has granted a distributorship license to a European pharma entity (the Licensing Entity) for the right to distribute the Company’s anti-HIV-1 therapeutic ITV-1 in the countries of India, Pakistan, UAE, Indonesia, Philippines, Nigeria, Benin and Togo, Kenya, Tanzania, Rwanda, Libya, Uganda, North Sudan, Egypt, Morocco, and Tunisia (the Licensed Territory). The Licensing Entity is the owner of a pharmaceutical plant in Eastern Europe. Pursuant to the Agreement, Enzolytics will received $1 Million USD and 50% ownership in the Licensing Entity valued at $8 Million. The License is granted with a commitment by the Licensee to sale and distribute the ITV-1 therapeutic in the Licensed Territory. In addition, the Licensing Entity will invest $2 Million USD in the Company in exchange for Company Preferred Series E stock bringing to the Company $3 Million in cash plus a 50% ownership in the Licensing Entity. 

The deal comes as a result of Enzolytic management developing and strengthening the relationships that are now leading the Company to its current significant partnerships. With the advances Enzolytic is making toward preparation for and completion of clinical trials in Europe, which will lead to approval from the EMA, the Company is meeting its goal of bringing its technology to those in need. 

The Company also partnered with Intel to publish a white paper on May 17 titled, “Optimizing Empathetic A.I. to Cure Deadly Diseases, highlighting Intel’s Artificial Intelligence Analytic tools and Enzolytic’s innovative approach and groundbreaking contributions to create universal, durable, and broadly effective treatment targeting all virus variants. This collaborative effort approaches the future of medicine; a future wherein the process of healthcare evolves from reactive to anticipatory, as exemplified by P4 Medicine, a term coined by Biologist Leroy Hood: 

The White Paper underscores Intel’s recognition of the premise of P4 Medicine and embraces Artificial Intelligence to deliver on the promise. Intel has made incredible advances in Artificial Intelligence’s applications to Empathetic A.I., outsourcing healthcare tasks and decisions to rational machines, freeing up time for healthcare professionals to engage in empathetic care, cultivating trusting relationships with their patients. 

Intel commends the discovery of Dr. Joseph Cotropia and Dr.Gaurav Chandra. Dr. Cotropia discovered a genetic amino acid sequence designated KLIC in the outer envelope of HIV. Discovering this sequence is like finding a “needle in a haystack” and retrieving the needle. These immutable sites have been identified and the antibody that targets those sites created. This antibody (Clone 3) can lock onto the KLIC epitope. Once bound by the antibody, the virus cannot infect a human cell and cannot ultimately reproduce. 

Patented by Dr. Cotropia, this HIV monoclonal antibody has been successfully tested in five international labs. Clone 3 antibody neutralized [at an IC90] 95% of all HIV primary isolate strains (41/43) -across all clades and groups – against which tested it. For an antibody to be effective, it has to attack a neutralizable site on the virus that is always present and does not mutate. Knowing the binding site for the monoclonal Clone 3 antibody on the HIV-1 virus and then examining the Coronavirus amino acid sequence, a correlation in the structures has been identified by Dr. Joseph Cotropia and Dr. Gaurav Chandra. Specific antibodies that broadly neutralize are necessary to provide effective therapy and prevention of disease. These applications in using a monoclonal antibody in passive immunotherapy are accomplished by using Enzolytics’ proprietary method of producing broadly neutralizing monoclonal antibodies. However, a primary focus on identifying immutable binding sites on the virus and then creating monoclonal antibodies that bind to such immutable sites is required will universally and durably neutralize the SARS-CoV-2 virus. Dr. Gaurav Chandra recognized A.I.’s potential and, based on knowledge of these homologous viral structures, targeting the corresponding “Achilles Heel” site on a virus, an expected conserved immutable and neutralizable site was identified. 

Consequently, Dr. Chandra worked with Denver Scientific’s genetics molecular biology data science team to screen more than 50,512 Coronavirus and 87,336 HIV isolates, the largest known repository of HIV and Covid- 19 isolates in the world. From this very complex and extensive A.I. analysis, conserved sites immutable on HIV and Covid-19 were identified. The use of A.I. helped to confirm the sequence determined throughout two decades of Dr. Cotropia’s career. Additionally, another seven conserved sequences have also been identified using A.I. technology, while in another breakthrough, 19 conserved sequences over the entirety of the 50,512 Coronavirus isolates analyzed have been identified. These immutable sites on the SARS-CoV-2 virus have also been confirmed as existing (100%) in the U.S. SARS-CoV-2 virus variants that have surfaced in United Kingdom, Brazil, and South Africa. 

As a trifecta, Intel technology, P4 Medicine, and the efforts of Enzoyltics requires effective public policy; policies that will fuel this trifecta as a promising thought leadership experiment; a necessary journey of experimentation as humanity bravely marches towards cures for society’s most deadly diseases; towards a more Empathetic A.I. Cultivating a technology-neutral public policy, regulatory, and government investment environment is paramount to this end. The consensus is for five primary policy drivers to cultivate trust, empathy, and velocity that will help in realizing the potential described in the White Paper. The five policy drivers are to: 

The conclusion described in the White Paper is that Enzolytics Inc’s use of Artificial Intelligence underscores a novel approach in assessing millions of virus sequences to identify the conserved segments essential for virus survival. Through effective public and private sector symbiosis and the fostering of a technology-neutral regulatory environment, the genuine power of A.I., coupled with advanced techniques in proprietary technologies illustrated in the Enzolytics immunotherapeutics, will no doubt create universal, durable, and broadly effective treatment targeting all virus variants. 

On May 26 ENZC announced it has identified conserved, expectedly immutable sites on the HTLV-1 virus against which it will produce targeted anti-HTLV-1 monoclonal antibodies (mAbs). There are no effective vaccines against HTLV-1 and no antiviral drugs available for treating infections caused by the virus. Utilizing the Company’s proprietary Artificial Intelligence (AI) methodology, conserved target sites have now been identified against which fully human anti-HTLV-1 monoclonal antibodies will be produced in its lab on the campus of Texas A&M University in the University’s Institute for Preclinical Studies. The Company’s own Artificial Intelligence team continues to identify the critical sites on viruses against which monoclonal antibodies will be produced to treat infectious viral diseases. Experts recognize the significance of producing multiple monoclonal antibodies targeting multiple conserved sites as a necessary approach to effective therapy. This allows the administration of a “cocktail” of antibodies, all targeting conserved and expectedly immutable sites. 

Charles Cotropia, CEO of Enzolytics, said: “We now have a comprehensive platform for producing multiple targeted monoclonal antibodies against numerous infectious diseases. This platform includes our ability to first identify multiple conserved and expectedly immutable sites on viruses with the ability to then produce fully human monoclonal antibodies targeting those sites. This approach opens the door to new and durable therapies that can be used to treat innumerable human infectious diseases.” 

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Enzolytics is making a powerful move up the charts in recent days since a brief dip below the $0.10 mark. ENZC is a major league runner and powerhouse stock; over the past few months ENZC has seen a legendary run to recent highs of 0.958 per share as it completes the historic merger between BioClonetics and Enzolytics; the new biotech is getting noticed as its technology for producing fully human monoclonal antibodies is currently being employed to produce anti-SARS-CoV-2 (CoronaVirus) monoclonal antibodies for treating COVID-19. With each day of progression of the Coronavirus pandemic, the dire need for multiple active therapeutics becomes more evident. ENZC is a pioneer in using monoclonal antibodies for treating COVID-19. ENZC has partnered with Intel to publish a white paper titled, “Optimizing Empathetic A.I. to Cure Deadly Diseases,” highlighting Intel’s Artificial Intelligence Analytic tools and Enzolytic’s innovative approach and groundbreaking contributions to create universal, durable, and broadly effective treatment targeting all virus variants. This collaborative effort approaches the future of medicine; a future wherein the process of healthcare evolves from reactive to anticipatory, as exemplified by P4 Medicine. The conclusion described in the White Paper is that Enzolytics Inc’s use of Artificial Intelligence underscores a novel approach in assessing millions of virus sequences to identify the conserved segments essential for virus survival. Through effective public and private sector symbiosis and the fostering of a technology-neutral regulatory environment, the genuine power of A.I., coupled with advanced techniques in proprietary technologies illustrated in the Enzolytics immunotherapeutics, will no doubt create universal, durable, and broadly effective treatment targeting all virus variants. This was followed by the news that ENZC has identified conserved, expectedly immutable sites on the HTLV-1 virus against which it will produce targeted anti-HTLV-1 monoclonal antibodies (mAbs). Utilizing the Company’s proprietary Artificial Intelligence (AI) methodology, conserved target sites have now been identified against which fully human anti-HTLV-1 monoclonal antibodies will be produced in its lab on the campus of Texas A&M University in the University’s Institute for Preclinical Studies. The Company’s own Artificial Intelligence team continues to identify the critical sites on viruses against which monoclonal antibodies will be produced to treat infectious viral diseases. We will be updating on ENZC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ENZC.

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

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2 Comments

2 Comments

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Featured

Farmer Brothers (NASDAQ:FARM) Announces $100 Million Sale of Northlake Facility, Shifts Production with Focus on Profitability

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8 hours ago

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June 8, 2023

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Farmer Bros. Co. (NASDAQ: FARM) shares rocketed 88% within the first hour of the opening bell on June 7, 2023.

Farmer Bros. Co. (NASDAQ: FARM) shares rocketed 88% within the first hour of the opening bell on June 7, 2023. This national distributor of coffee and tea intends to sell its direct shipping facility in Northlake for $100 million to TreeHouse Foods (NYQ: THS) and transfer its production operations to Portland, Oregon. The sale includes the 180 employees currently employed at the Northlake plant.

According to $FARM’s CEO Deverl Maserang, this move allows the company to concentrate primarily on its direct store delivery (DSD) business, which is the most profitable and offers the highest growth potential. Maserang stated that the company aims to ensure its direct ship customers are well-served by a national leader while focusing on DSD. After the deal is finalized, Farmer Brothers will relocate its remaining DSD business to its Portland roasting and production plant while maintaining its corporate headquarters in Texas by leasing space in Northlake.

2017 Farmer Brothers first made headlines when it acquired Boyd’s Coffee for nearly $60 million. And just recently, in 2021, Farmer Brothers announced opening a West Coast distribution center. Maserang’s focus is profitability. For a company bringing in an incredible ~496M in revenue annually, you’d think that’s a given. Yet they still reported a ~15M net loss on their June 30th, 2022 earnings, and TTM is ~28M net loss.  

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Farmer Brothers’ direct store delivery business serves coffee, tea, spices, breakfast, and brunch products to 45,000 locations nationwide through a network of 80 independent branches, five distribution centers, and almost 240 routes. Its customer base includes restaurants, food service operators, convenience stores, hotels, casinos, healthcare facilities, and grocery chains.

Founded in 1912, Farmer Brothers is known for its primary brands, such as Farmer Brothers, Artisan Collection by Farmer Brothers, Superior, Metropolitan, China Mist, and Boyd’s. Its sales for fiscal year 2022 reached $469.2 million.

Following the sale of the Northlake facility, the company estimates that its annual revenue will decrease to approximately $350 million. However, as mentioned, their focus is improving profit margins. Chief Financial Officer Scott Drake stated that shifting towards a DSD-focused organization would enhance internal efficiency, reduce operational costs, and increase margins. The company plans to use the proceeds from the sale to pay off debt and streamline its operations.

TreeHouse Foods, headquartered in Oak Brook, Illinois, is a prominent manufacturer of private-label food and beverages in North America. The company operates 26 production facilities in the United States and Canada, including existing locations in Dallas and Carrollton. It was established in 2005 as a spin-off of Dallas-based Dean Foods Co. In 2016, TreeHouse Foods acquired the private brands business from Conagra Brands, marking its most significant acquisition and nearly doubling its size. In 2022, the company reported sales of $3.45 billion.

Analyst Buy Rating Suggests Strong Potential for Growth

As of June 7, 2023, Farmer Bros Co (FARM) had a median target price of $6.00, according to an analyst providing a 12-month price forecast. This indicates a significant increase of 81% compared to the last price of $3.30. The high and low estimates for the stock were also $6.00, reflecting a consensus among analysts regarding FARM’s strong growth potential. An investment analyst polled on the matter has maintained a consistent buy rating for Farmer Bros Co since August. This rating suggests that the company is expected to perform well, and investors are advised to consider purchasing shares. Regarding FARM’s current quarter earnings, the company reported a loss per share of $0.60 and sales of $121.2M. As always, it is essential for investors to carefully evaluate their financial circumstances and risk tolerance before making any investment decisions.

We will update you on FARM when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Hoth Therapeutics (NASDAQ: HOTH) Makes Groundbreaking Progress in Alzheimer’s Research through HT-ALZ Therapy

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1 day ago

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June 7, 2023

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Hoth Therapeutics (NASDAQ: HOTH) made significant strides in Alzheimer's disease (AD) with its experimental therapy, HT-ALZ.

Hoth Therapeutics (NASDAQ: HOTH) made significant strides in Alzheimer’s disease (AD) with its experimental therapy, HT-ALZ, which showed promising results in preclinical studies. Following the announcement of these positive outcomes, the company experienced a remarkable 135% share value surge after Tuesday’s opening bell. While Hoth primarily focuses on dermatology, specifically atopic dermatitis and inflammatory skin conditions, their foray into AD research demonstrates their commitment to addressing unmet medical needs.

More on the HT-ALZ Study for Altzheimers Disease (AD)

In a recent study at Washington University in St. Louis, HT-ALZ showcased encouraging effects, particularly in improving spatial memory, with the higher dosage proving the most effective. Alzheimer’s disease is a degenerative neurological condition characterized by the accumulation of amyloid β (Aβ) plaques and neurofibrillary tangles of Tau protein in the brain, leading to symptoms such as dementia. Hoth’s initial data demonstrated a significant reduction in Aβ levels in both male and female mice with AD after acute treatment with HT-ALZ, compared to the placebo and baseline Aβ levels.

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Hoth Therapeutics has completed several behavioral tests and looks forward to sharing more data as it becomes available. This significant progress in their AD research highlights the company’s dedication to developing potential therapies for this debilitating disease.

Driving Forces Behind the Expansion of Alzheimer’s Disease Research

Alzheimer’s disease has been receiving increased attention from preclinical biotech companies for several reasons:

  • Growing prevalence: Alzheimer’s disease is a significant and escalating public health issue due to its increasing prevalence worldwide. As populations age, the incidence of Alzheimer’s is expected to rise, creating a greater need for effective treatments and interventions.
  • High unmet medical need: There is no cure for Alzheimer’s disease, and the available treatments only provide limited symptomatic relief. This unmet medical need presents an opportunity for biotech companies to develop innovative therapies that can potentially slow down the progression of the disease or target its underlying causes.
  • Advancements in understanding: Over the years, significant progress has been made in unraveling the complex mechanisms and underlying pathology of Alzheimer’s disease. This improved understanding of the disease has sparked renewed interest among biotech companies, as it provides a foundation for the development of novel therapeutic approaches.
  • Technological advancements: The advancements in various scientific and technical fields, such as genomics, proteomics, and imaging techniques, have facilitated better disease characterization and identification of potential drug targets. These tools and technologies enable biotech companies to conduct more detailed research and develop therapies targeting specific pathways or biomarkers in Alzheimer’s.
  • Supportive regulatory environment: Regulatory agencies have recognized the urgent need for effective Alzheimer’s treatments and are willing to support and expedite the development and approval processes. This has encouraged biotech companies to invest in Alzheimer’s research and development.

Centers for Medicare & Medicaid Services (CMS) reimbursement For Alzheimer’s Disease (AD)

On a related note, the Centers for Medicare & Medicaid Services (CMS) has announced plans to broaden coverage for Alzheimer’s drugs once they receive full approval from the Food and Drug Administration (FDA). However, CMS’s proposal requires patients to participate in registries that collect real-world data. The first drug that could be covered under this plan is Eisai’s Leqembi, pending FDA approval. CMS’s decision aims to ensure coverage for Medicare Part B enrollees who meet specific criteria, including participation in registries to gather evidence on drug effectiveness.

While the registry requirement has faced criticism as an unnecessary barrier, CMS officials defend it, citing the importance of real-world evidence in transforming patient care. CMS collaborates with multiple organizations to establish registries, but more details and enrollment information are needed.

The broader CMS reimbursement for Alzheimer’s drugs is expected to benefit Eisai, Biogen, and other companies in the anti-amyloid space. Given that over 5 million Medicare beneficiaries are affected by Alzheimer’s, the market potential is substantial. Analysts project significant revenue for Eisai and Biogen from Leqembi, with estimated annual sales in the United States reaching billions of dollars.

Conclusion

In conclusion, the combination of factors such as the growing prevalence of Alzheimer’s disease, unmet medical needs, advancements in understanding, technological progress, and supportive regulations have contributed to the increased attention and investment in AD research by preclinical biotech companies. Hoth Therapeutics’ remarkable improvement in its HT-ALZ study exemplifies the significance of these advancements and highlights the company’s potential in addressing this challenging disease.

We will update you on HOTH when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Emerging Markets

Strong Financials and Social Media Buzz Propel Forza X1, Inc. (NASDAQ:FRZA) to New Heights

Published

2 days ago

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June 6, 2023

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Forza X1, Inc. (Nasdaq: FRZA) shares witnessed an exceptional and unforeseen surge in its share price, skyrocketing by 151% early morning of June 5th, 2023.

Forza X1, Inc. (Nasdaq: FRZA) shares witnessed an exceptional and unforeseen surge in its share price, skyrocketing by 151% early morning of June 5th, 2023. This surge was accompanied by an unprecedented level of trading volume, marking a significant departure from the previously observed average. Notably, the stock’s trading volume had been relatively low in recent months, with numerous days experiencing trading activity of less than 1,000 shares. Without any apparent news or filings, the cause behind this sudden surge remains a subject of intrigue and speculation among market participants.

What happened?

Firstly it’s important to note that $FRZA is a spin-off of Twin Vee PowerCats Co. (Nasdaq: VEEE). $VEEE is the parent company handling the design, manufacturing, and distribution of recreational and commercial, off-shore power catamaran boats while $FRZA is the new developer of electric sport boats with a mission to accelerate the adoption of sustainable recreational boating.

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Upon examination of the company, no discernible filings or press releases have been identified to account for today’s remarkable shift. However, it seems that a tweet disseminated by the company caught the attention of retail investors, subsequently generating an enormous surge in trading volume.

This recent occurrence serves as yet another compelling demonstration of the significant impact that the retail community can exert when armed with information regarding a small float micro-cap stock, particularly when the conditions align favorably and validate the potential for substantial gains. The tweet, skillfully crafted by the company’s social media team, featured a compelling GIF and clever “Don’t miss the boat” blurb, demonstrating a keen understanding of their business’s essence. 

The timely and engaging content proved to be a perfect execution, capturing the attention and imagination of investors in a manner that resonated deeply with the nature of the company’s operations.

Overview of Twin Vee PowerCats Co. Financials

Could the surge in share price also reflect the market’s enthusiastic response to Twin Vee’s strong financial results for the first quarter of 2023? 

On May 15, 2023, Twin Vee PowerCats Co. released its financials demonstrating a substantial increase in net revenue and notable improvements in the gas-powered boat segment.

https://twitter.com/JohnZidar/status/1665685698400141313?s=20

Twin Vee PowerCats Co. (Nasdaq: VEEE) reported strong financial results for the first quarter ended March 31, 2023. The company experienced a notable 51% increase in net revenue, reaching $8.9 million compared to $5.9 million in the same period last year. The gas-powered boat segment achieved a net income of $181,000, significantly improving from the net loss of $626,000 in Q1 2022.

However, as per GAAP accounting policy, Twin Vee’s consolidated financial statements resulted in a total net loss of $1.8 million for the quarter, primarily due to their majority ownership in Forza X1, Inc. (Nasdaq: FRZA), an electric boat company. Twin Vee reported cash, cash equivalents, restricted cash, and marketable securities of approximately $12.6 million as of March 31, 2023.

The company has been expanding its product lineup, including introducing the Aquasport mono-hull boat brand. Twin Vee is confident these efforts will contribute to business scalability and brand growth. They aim to optimize inventory levels and production costs while closely monitoring market conditions, dealer inventories, and economic indicators.

Financial highlights for Q1 2023

  • Total revenue: $8,877,000 (51% increase compared to Q1 2022)
  • Gross profit: $3,222,000
  • Net income from gas-powered boats segment: $182,000
  • Net loss from Forza X1 (electric boat entity): $2,005,000
  • Loss from Fix My Boat (franchise business): $5,000
  • Adjusted net loss (excluding non-cash charges): $1,347,000
  • Adjusted net income from gas-powered boats segment: $265,000

Twin Vee’s consolidated cash, cash equivalents, restricted cash, and marketable securities were $23,457,000 as of March 31, 2023. Forza X1 reported $10,683,000 in the same category, while Twin Vee’s core business had $12,643,000, and Fix My Boat had approximately $132,000.

We will closely monitor the performance of Forza X1, Inc. (Nasdaq: FRZA) in the coming weeks, considering that it is a spinoff from its parent company. It is crucial to conduct thorough research, particularly for companies like FRZA that have yet to achieve profitability. However, it is worth noting that the parent company has been making notable progress, as evidenced by its recent financial results, which revealed a substantial increase in the bottom line.

We will update you on FRZA when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Image by Sasin Tipchai from Pixabay

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