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Majic Wheels Corp. (OTCMKTS: MJWL) Powerhouse Runner as Enormous CGCX Ltd. Acquisition Gains Traction

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Majic Wheels Corp. (OTCMKTS: MJWL) continues to rocket up the chart recently surpassing $0.30 per share on fast growing volume. The stock is getting noticed by some pretty heavy hitter penny stock players and regularly tops $10 million per day in trading volume. Microcapdaily covered MJWL when the stock was $0.05 in May stating at the time: “MJWL has emerged in recent days as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. MJWL is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.0788 and its blue skies ahead.” MJWL has traded over $0.30 since then. 

MJWL has been busy in recent months giving an investors presentation as well as hiring several investors relations firms. The Company also recently reported it was granted OTCIQ Access after completing the required verifications. MJWL took off on April 30 after the Company announced it has new management and intends to file with the OTC Markets to become OTC Pink Current. This was soon followed by Shaw Cheng “David” Chong taking over as CEO and positioning the Company as a player in the disruptive industries of Fintech and Software Development. The stock really took off after MJWL announced it has executed a binding letter of intent to acquire a USD 150M revenue producing cryptocurrency exchange and custody services platform: CGCX Ltd. Founded in 2018, Calfin Global Crypto Exchange (“CGCX”) set out to offer highly sophisticated cryptocurrencies services catering for the larger blockchain community. CGCX has already established a crypto trading platform and custody solutions. In the latter, it is one of the first participants to offer insurance to some of its clients. MJWL investors keep bringing up the quarterly report filed by the Company on June 1 showing the total float here is just 650,626,720 shares. 

Majic Wheels Corp. (OTCMKTS: MJWL) a Delaware corporation, intends to position itself as a player in the disruptive industries of and Fintech and software development by means of an acquisition and merger. Majic Wheels Corp. is listed and traded on the Over-the-Counter Market under the trading symbol “MJWL”. 

The stock started moving after the Company reported on April 30  it has new management and intends to file with the OTC Markets to become OTC Pink Current. This was soon followed by Shaw Cheng “David” Chong taking over as CEO and positioning the Company as a player in the disruptive industries of Fintech and Software Development. 

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MJWL

On May 21 MJWL announced it has executed a binding letter of intent to acquire a USD 150M revenue producing cryptocurrency exchange and custody services platform: CGCX Ltd. Founded in 2018, Calfin Global Crypto Exchange (“CGCX”) set out to offer highly sophisticated cryptocurrencies services catering for the larger blockchain community. CGCX has already established a crypto trading platform and custody solutions. In the latter, it is one of the first participants to offer insurance to some of its clients. 

With the backing of a highly experienced team with deep expertise in Equity, Futures Market and corporate finance, CGCX coupled its knowledge of the traditional markets with the fast-growing cryptocurrency market to develop innovative products that fulfill the needs of cryptocurrency users in select markets (Malaysia, India, Mauritius, UAE). Developing various software solutions for the broad cryptocurrencies market, CGCX has established three different business lines that complement the needs of the cryptocurrency market. 

CGCX has built three business lines including the CGCX Exchange, Custody Services and Cryptocurrency Mining. MJWL CEO David Chong stated: “This is a unique assortment of value propositions that we are able to bring into the company. With the pending acquisition of CGCX, our company will bring a Digital Asset Platform that brings value from the diversified business model and security to the clients through insurance and infrastructure offering services such as Crypto Exchange, Digital Custody Services and Token Listing Platform under one-fold. CGCX has been operating successfully since 2018 and we could not be more excited with this pending merger.”  

The Company will be publishing more details about CGCX in the coming weeks and will host an online presentation. A subsequent press release will be issued with an invitation to the online presentation. 

https://twitter.com/MoneybagsClay/status/1409667488783106051

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Majic Wheels Corp. (OTCMKTS: MJWL) continues to rocket up the chart recently surpassing $0.30 per share on fast growing volume. The stock is getting noticed by some pretty heavy hitter penny stock players and regularly tops $10 million per day in trading volume. Microcapdaily covered MJWL when the stock was $0.05 in May stating at the time: “MJWL has emerged in recent days as an investors favorite and is currently among the most actively searched and talked about stocks in small caps. MJWL is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.0788 and its blue skies ahead.” MJWL has traded over $0.30 since then.  MJWL has been busy in recent months giving an investors presentation as well as hiring several investors relations firms. The Company also recently reported it was granted OTCIQ Access after completing the required verifications. MJWL took off on April 30 after the Company announced it has new management and intends to file with the OTC Markets to become OTC Pink Current. This was soon followed by Shaw Cheng “David” Chong taking over as CEO and positioning the Company as a player in the disruptive industries of Fintech and Software Development. The stock really took off after MJWL announced it has executed a binding letter of intent to acquire a USD 150M revenue producing cryptocurrency exchange and custody services platform: CGCX Ltd. Founded in 2018, Calfin Global Crypto Exchange (“CGCX”) set out to offer highly sophisticated cryptocurrencies services catering for the larger blockchain community. CGCX has already established a crypto trading platform and custody solutions. In the latter, it is one of the first participants to offer insurance to some of its clients. MJWL investors keep bringing up the quarterly report filed by the Company on June 1 showing the total float here is just 650,626,720 shares.  We will be updating on MJWL when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MJWL.

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

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Wearable Devices Ltd. (NASDAQ: WLDS) Breaking Boundaries with AI

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Israeli technology company Wearable Devices Ltd. (NASDAQ: WLDS) announced that the Mudra Band for Apple Watch is now available for pre-order on their website.

Israeli technology company Wearable Devices Ltd. (NASDAQ: WLDS), known for developing AI-powered touchless sensing wearables, has announced that their flagship consumer product, the Mudra Band for Apple Watch, is now available for pre-order on their website. The company has received thousands of pre-orders as they gear up for their first large-scale manufacturing batch.

In a remarkable turn of events, the company’s shares experienced an astounding surge of 265% at the time of writing, accompanied by a staggering total of 48 million shares being traded. Having operated under NASDAQ compliance standards since September of last year, the company has largely flown under the radar with relatively low trading volume. Currently, approximately 5.88 million shares are available for trading, a significant portion of which are closely held by insiders. The recent groundbreaking news marks a pivotal moment for the company, setting a trajectory for future growth as they assert its dominance in the realm of AI for wearable devices.

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The Mudra Band was initially designed to allow the touchless operation of the Apple Watch using neural signals. However, it has since expanded its features with Air-Touch, which enables users to operate various Apple devices through intuitive finger movements and hand gestures, eliminating the need for physical touch. The latest features also provide seamless device switching and toggling between iPhone, iPad, Mac computer, Apple TV, smart glasses, and mobile gaming devices.

Wearable Devices CEO, Asher Dahan, expressed his belief that the Mudra Band is setting a new standard for user interactions with connected devices, extended reality, and gaming. The company is scaling its marketing and support capabilities to meet the high demand for the product and aims to start shipping in the second half of 2023.

The Mudra Band is compatible with different models of the Apple Watch and is being extensively tested and approved by a global community of Apple enthusiasts. It is the ultimate aftermarket accessory for controlling Apple devices within their ecosystem.

Quick overview of the company

Wearable Devices Ltd. is a growth-oriented company that develops AI-based neural input interface technology for both consumer and business markets. In addition to the Mudra Band, they also offer the Mudra Inspire as a B2B product, providing businesses the same functionality and technology through licensing. The company aims to create disruptive technology that leverages AI and proprietary algorithms, software, and hardware to establish the input standard for the rapidly expanding Metaverse landscape in the tech industry.

More on the Mudra Brand and latest Event

Wearable Devices Ltd. (NASDAQ: WLDS) recently attended a big event called the TinyML Summit. They recently had the chance to show their technology firsthand and have users experience their award-winning aftermarket band for the Apple Watch – enabling touchless control of Apple products using subtle finger and wrist movements.

The tinyML Summit is a vibrant gathering that attracts a diverse range of professionals and enthusiasts from various industries. Engineers, developers, managers, executives, and founders involved in developing sensors, silicon, software, machine learning tools, or systems for the tiny ML (machine learning) market come together at this event. It also appeals to system designers and integrators seeking to incorporate low-power, low-cost machine learning into their devices and products across different verticals, such as consumer electronics, industrial applications, extended reality (XR), healthcare, and more.

On top of the band, the company also highlighted its multi-device functionality that allows for seamless control across not just the Apple watch but also other Apple devices like iPhones, iPads, Mac computers, and Apple TVs

As mentioned, the summit provides a dynamic platform for showcasing cutting-edge technology in machine learning on edge devices and fostering knowledge exchange among industry leaders. In the past year, the company behind this groundbreaking technology has meticulously fine-tuned its product, remaining relatively low-key as it devoted its efforts to perfecting its innovation. 

The company is strategically leveraging events like the tinyML Summit to gain exposure. The response has been remarkable, as the product has already generated tremendous buying interest, evident from the large pre-order numbers they are experiencing. This surge in interest signifies the excitement surrounding their offering and the anticipation of what this groundbreaking technology can achieve.

We will update you on WLDS 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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CohBar Inc. (NASDAQ: CWBR) and Morphogenesis Join Hands to Create TuHURA Biosciences

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Shares surged nearly 200% on CohBar, Inc. (NASDAQ: CWBR) as they entered a definitive agreement with Morphogenesis Inc.

Shares surged nearly 200% on CohBar, Inc. (NASDAQ: CWBR) as they entered a definitive agreement with Morphogenesis Inc. for an all-stock transaction to merge the two companies. The recent merger announcement has sparked a flurry of trading activity, resulting in a significant change in trading volume. Before the merger news, the average daily trading volume for CohBar stood at approximately 3.5K shares. However, at the time of writing, the company’s stock has experienced a tremendous influx, with shares being traded at a rate eight times higher than their float. A remarkable 16.2 million shares have exchanged hands, indicating substantial investor interest and enthusiasm.

The merger combines their expertise and resources to advance their late-stage oncology pipeline. The merged company will operate under “TuHURA Biosciences, Inc.” and trade on The Nasdaq Capital Market. The transaction is expected to be completed in the third quarter of 2023.

The combined company will focus on advancing Morphogenesis’s two technologies that aim to overcome the limitations of current immunotherapies in treating cancer. These technologies include personalized cancer vaccines called Immune Fx (IFx) and tumor microenvironment modulators. IFx is designed to activate the immune response against patient-specific tumor antigens, while the tumor microenvironment modulators target myeloid-derived suppressor cells (MDSCs) to address resistance to immunotherapies.

The merger is seen as a promising opportunity to develop new therapies to overcome resistance to current immunotherapies, a significant unmet need in cancer treatment.

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The merger agreement includes terms for the stockholders of both companies and a $15 million private placement is expected to be conducted alongside the merger. The proceeds from the private placement will be used to fund the development pipeline of the combined company, with sufficient funds expected to last until 2024.

The merger has been approved by the boards of directors of both companies and is subject to stockholder approval and customary closing conditions. Following the merger, the combined company will be headquartered in Tampa, Florida, with Dr. James Bianco as Chief Executive Officer and Dan Dearborn as Chief Financial Officer. The board of directors will consist of seven members, five designated by Morphogenesis and two by CohBar.

More on the Pipeline

  • Immune Fx (IFx) Personalized Cancer Vaccines: IFx is designed to prime and activate an innate immune response against patient-specific tumor antigens, overcoming primary resistance to checkpoint inhibitors. Morphogenesis is currently preparing for a single Phase 2/3 registration trial of its lead personalized cancer vaccine, IFx-Hu2.0, as an adjunct to Keytruda® (pembrolizumab) in first-line treatment for advanced Merkel Cell Carcinoma (MCC). This study is expected to be conducted under a Special Protocol Assessment (SPA) agreement with the FDA and to commence in early 2024. Additionally, Morphogenesis is advancing IFx-Hu3.0, its mRNA vaccine, toward IND-enabling studies in 2024 to treat aggressive diffuse large B-cell lymphoma (DLBCLs).
  • Tumor Microenvironment (TME) Modulators: TME Modulators are designed to address one of the primary causes of acquired resistance to immunotherapies, including checkpoint inhibitors or cellular therapies like CAR-T. Leveraging its new class of novel bi-functional antibody-drug conjugates (ADCs), Morphogenesis is targeting a recently identified delta receptor on myeloid-derived suppressor cells (MDSCs). MDSCs comprise a major component of cells in the tumor microenvironment and are responsible for suppressing the immune system’s attack against the tumor. Morphogenesis is constructing several MDSC-targeted, bi-functional ADCs for in vitro and in vivo characterization, targeting lead selection by the end of 2024.

In conclusion, the proposed merger between CohBar and Morphogenesis represents a significant step forward in advancing personalized cancer vaccines and tumor microenvironment modulators. With Morphogenesis’ Immune Fx (IFx) Personalized Cancer Vaccines and Tumor Microenvironment (TME) Modulators, there is great potential to overcome resistance to current immunotherapies and improve treatment outcomes for patients with various cancers. The merger agreement, subject to stockholder approval, will result in a combined company named TuHURA Biosciences, with a strong management team and a focus on advancing the late-stage oncology pipeline. The transaction, backed by Ladenburg Thalmann & Co., Inc., and H.C. Wainwright & Co., is expected to close in the third quarter of 2023, paving the way for innovative advancements in cancer treatment.

We will update you on CWBR 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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Aemetis Inc. (NASDAQ: AMTX) Pioneers Renewable Fuel Market with EPA Approval

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Aemetis (NASDAQ: AMTX) shares surged 105% this week. The renewable natural gas and renewable fuels company received approval from the EPA.

Aemetis, Inc. (NASDAQ: AMTX) shares surged 105% this week. The renewable natural gas and renewable fuels company received approval from the U.S. EPA to generate renewable identification numbers (RINs) under the federal Renewable Fuel Standard. They have six dairy biogas digesters up and running, with a seventh one scheduled to start operating in June 2023.

Aemetis plans to generate multiple sources of revenue from its renewable natural gas. They will sell the gas to replace petroleum diesel in transportation, sell California Low Carbon Fuel Standard credits to fuel blenders who need to meet carbon reduction requirements in California, sell the RINs generated under the federal Renewable Fuel Standard, and benefit from production tax credits starting in 2025 under the Inflation Reduction Act.

They have completed constructing and operating six dairy digesters, a biogas pipeline spanning over 40 miles, a central facility to upgrade biogas to renewable natural gas, and a utility pipeline interconnection unit. The renewable natural gas is injected into the utility gas system and stored underground until Aemetis Biogas obtains carbon intensity (CI) pathway approvals from the California Air Resources Board (CARB) to sell credits under the California Low Carbon Fuel Standard.

They have already completed 90 days of renewable natural gas production and data collection required for the CARB approval process. While the final pathway is under review by CARB, Aemetis can use a temporary CI pathway with a value of -150, allowing them to start generating revenue in the third quarter of 2023.

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Andy Foster, the president of Aemetis Biogas Inc., expressed excitement about the approval of Aemetis Biogas for generating D3 RINs, as it marks a significant milestone towards generating full product revenue. He emphasized that the company’s investments since 2019 have directly reduced greenhouse gas pollution, improved air quality in Central Valley communities, and created jobs. Aemetis is committed to expanding their network of dairy digesters and producing more carbon-negative renewable natural gas to replace petroleum diesel.

The dairy digesters, pipeline project, and biogas-to-RNG facility funding includes grants from the California Department of Food and Agriculture and the California Energy Commission. Aemetis also closed a $25 million long-term financing deal with Greater Commercial Lending last fall, supported by a loan guarantee from the USDA. This project financing has a low fixed interest rate for the first five years and spans over 20 years.

Aemetis has plans to file applications for an additional $100 million of loans from the USDA’s REAP loan program. These funds will support the engineering, permitting, and construction of 31 more dairies. Each loan application will be limited to a maximum of $25 million and carry a 20-year repayment term.

https://twitter.com/Theweedfarmer/status/1658946668052504576?s=20

Where could Aemetis, Inc. (NASDAQ: AMTX) be in 5 years?

The company has an ambitious Five Year Plan to generate substantial revenue and reduce air and carbon pollution. The plan projects $2.0 billion in revenues, $496 million in net income, and $682 million in adjusted EBITDA by 2027, with strong compound annual growth rates. Aemetis aims to expand its operations by producing Renewable Natural Gas (RNG), Sustainable Aviation Fuel (SAF), Renewable Diesel fuel (RD), and other low-carbon products. The plan emphasizes the positive financial impact of the Inflation Reduction Act.

The plan highlights the financial benefits of the Inflation Reduction Act, which enables the transfer of tax credits and incentives related to production, projected to improve net income by $341 million in 2027.

The plan also focuses on revenue growth in all product lines, including expanding the dairy RNG business, constructing a renewable jet/diesel plant, implementing carbon sequestration, and improving energy efficiencies. 

The company has already achieved significant milestones, such as completing biogas pipeline construction, upgrading facilities for biogas-to-RNG production, and progressing in carbon sequestration and renewable jet/diesel plant development. The company has also secured a biodiesel purchase agreement in India and made strides in constructing a solar microgrid and implementing energy-efficient measures.

We will update you on AMTX 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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