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Sunday, May 22, 2022

Unique Logistics International Inc (OTCMKTS: UNQL) Heats Up as Freight Operator Reports Record Revenues and Looks to Up List to National Exchange

Unique Logistics International Inc (OTCMKTS: UNQL) is making an explosive move up the charts after the company filed a Form S-1/A to register the sale of 25 million shares in a share offering unwritten by EF Hutton. The Company has applied to list its stock on the Nasdaq Capital Market under the symbol UNQL and is prepared to do a reverse split to get there. The Company states it will not proceed with this offering in the event the Common Stock is not approved for listing on Nasdaq. There is a common misconception that suggests RS is bad for PPS and while this is true for dilution schemes when it’s a real company affecting a reverse split to up list to a national exchange it almost always results in significant moves to the upside. We were watching CTSO back in the day when the company did a 25 for 1 RS and retail investors ran for the hills. After opening after the RS at just over $4 a share, the stock quickly ran to over $12 in 3 weeks. 

UNQL is heating up and getting noticed by some big players in small caps who are accumulating at current levels. Last week the Company reported record financial results (unaudited) for the second quarter and the first six months of its current fiscal year. Second quarter net sales increased $280.8 million, or 225% versus the second quarter of prior year to $405.4 million. Second quarter Income from Operations, up $5.7 million, or 190%, versus the second quarter of prior year and adjusted EBITDA for the second quarter is up $4.2 million, or 89%, versus the second quarter of prior year. These are big board revenue numbers and put UNQL above 99.9% of this exchange. Microcapdaily first reported on UNQL on July 4, 2021 stating at the time: “UNQL is doing 100’s of millions of dollars a year in revenues and only trades where it does because of a serious debt problem that has plagued the Company and caused massive dilution in recent months.” That problem has now been solved with management recently eliminating all convertible debt in its balance sheet eliminating $5.9 million of debt off the books over the past 3 months. 

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Unique Logistics International Inc (OTCMKTS: UNQL) provides a full range of global logistics services by providing to its customers a robust international network that strategically supports the movement of its customers goods. Acting solely as a third-party logistics provider, Unique purchases available cargo space in volume from its network of carriers (such as airlines, ocean shipping, and trucking lines) and resells that space to our customers. Unique Logistics does not own any of these ships, trucks, or aircraft and does not plan on entering the ownership model. Operating via its wholly owned subsidiaries, UL BOS and UL NYC, Unique provides a range of international logistics services that enable its customers to outsource to the Company sections of their supply chain process. The services provided by the Company are seamlessly managed by its network of trained employees and integrated information systems. UNQL enables its customers to share data regarding their international vendors and purchase orders with us, execute the flow of goods and information under their operating instructions, provide visibility to the flow of goods from factory to distribution center or store and when required, update their inventory records. 

On January 14 UNQL reported record financial results (unaudited) for the second quarter and the first six months of its current fiscal year. Second quarter net sales increased $280.8 million, or 225% versus the second quarter of prior year to $405.4 million. Second quarter Income from Operations, up $5.7 million, or 190%, versus the second quarter of prior year and adjusted EBITDA for the second quarter is up $4.2 million, or 89%, versus the second quarter of prior year. 

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UNQL

Demand for international logistics services remains strong. Seasonal factors will undoubtedly impact shipping volumes in the remainder of the Fiscal Year, but the overall trends are positive; and the Company is in a favorable position. The reported revenue growth reflects the continuing success of the Company in achieving organic growth and increased market share by acquiring new customers in a challenging logistics market, through critical procurement and marketing strategies. 

The Company has undertaken continued efforts to strengthen its balance sheet. As disclosed in an 8-K filing on December 13, 2021, the Company reached agreement, effective December 10, 2021, with its convertible debt holders for an exchange of debt and warrants of $ 3.9 million into equity. As a result, the Company eliminated all convertible debt in its balance sheet. As disclosed in another 8-K filing, dated January 10, 2022, on January 7, 2022, the Company repaid, early, $2 million of non-convertible debt to two of its noteholders. The above actions resulted in the elimination of $5.9 million of debt in the Company’s balance sheet. The Company’s Stockholder’s Equity of $13.4 million grew 103% during the current Fiscal Year. Further details can be found in the Company’s Form 10-Q filed January 14, 2022. 

CEO Sunandan Ray stated: “With this record quarter, UNQL remains firmly on track to achieve and exceed our goals for Fiscal Year 2022. The successful organic growth of our business has positioned us strongly to complete strategic acquisitions, integrate them into our organization and expand our business for the future. Our 225% revenue growth over the second quarter of prior year is a testament to this team’s successful capacity management for existing customers as well as the addition of new customers, particularly during these unique but challenging peak shipping periods. This organic growth has positioned us to continue making judicious strategic acquisitions and expanding our capacity for new and recurring customers.” 

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UNQL is making an explosive move up the charts after the company filed a Form S-1/A to register the sale of 25 million shares in a share offering unwritten by EF Hutton. The Company has applied to list its stock on the Nasdaq Capital Market under the symbol UNQL and is prepared to do a reverse split to get there. The Company states it will not proceed with this offering in the event the Common Stock is not approved for listing on Nasdaq. There is a common misconception that suggests RS is bad for PPS and while this is true for dilution schemes when it’s a real company affecting a reverse split to up list to a national exchange it almost always results in significant moves to the upside. We were watching CTSO back in the day when the company did a 25 for 1 RS and retail investors ran for the hills. After opening after the RS at just over $4 a share, the stock quickly ran to over $12 in 3 weeks.  UNQL is heating up and getting noticed by some big players in small caps who are accumulating at current levels. Last week the Company reported record financial results (unaudited) for the second quarter and the first six months of its current fiscal year. Second quarter net sales increased $280.8 million, or 225% versus the second quarter of prior year to $405.4 million. Second quarter Income from Operations, up $5.7 million, or 190%, versus the second quarter of prior year and adjusted EBITDA for the second quarter is up $4.2 million, or 89%, versus the second quarter of prior year. These are big board revenue numbers and put UNQL above 99.9% of this exchange. Microcapdaily first reported on UNQL on July 4, 2021 stating at the time: “UNQL is doing 100’s of millions of dollars a year in revenues and only trades where it does because of a serious debt problem that has plagued the Company and caused massive dilution in recent months.” That problem has now been solved with management recently eliminating all convertible debt in its balance sheet eliminating $5.9 million of debt off the books over the past 3 months. We will be updating on UNQL when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with UNQL.

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

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