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Saturday, July 24, 2021

Unique Logistics International, Inc. (OTCMKTS: UNQL) Run Brewing as Major Freight Co Gains Traction

Unique Logistics International, Inc. (OTCMKTS: UNQL) has been on the move up in recent trading after a brief dip below a dime. The stock is looking to make a move back towards its 52-week highs of $0.3813 reached in February of this year after the Company reported Q2 fiscal 2021 revenues of $124.6 million for the 3 months ended November 30, 2020. 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.  

Things could be on the up and up; recently the Company secured a new $30 million revolving purchase loan with TBK Bank, SSB. They also have a new agreement with Korean Air to add an additional 52 cargo charter flights for the period of August 1, 2021 through December 31, 2021. These additional flights will be from Vietnam to the United States and are anticipated to create additional air cargo capacity for the Company’s customer base.  

Unique Logistics International, Inc. (OTCMKTS: UNQL) through its wholly owned operating subsidiaries, is a global logistics and freight forwarding company providing a range of international logistics services that enable its customers to outsource to the Company sections of their supply chain process. The services provided are seamlessly managed by its network of trained employees and integrated information systems. The Company 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.  Since its inception UNQL successfully and rapidly expanded its market share in the freight forwarding business in Asia.  

Several weeks ago UNQL secured a new $30 million revolving purchase loan with TBK Bank, SSB, a subsidiary of Triumph Bancorp, Inc. (NASDAQ: TBK) and a Texas State Savings Bank. Under the terms of the new financing, Unique may access up to $30 million under a revolving purchase loan at the Prime Rate plus 3%. Unique concurrently repaid and terminated the Company’s prior $25 million Secured Accounts Receivable Facility with Corefund Capital, LLC. 

In another big move UNQL recently entered into an agreement with Korean Air to add an additional 52 cargo charter flights for the period of August 1, 2021 through December 31, 2021. These additional flights will be from Vietnam to the United States and are anticipated to create additional air cargo capacity for the Company’s customer base. 

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On June 24 UNQL announced it has entered into an agreement providing for an extension to purchase business assets in North and East China, Taiwan, and India. Under the original terms of the agreement, the Company had until May 31, 2021, to acquire a 50% interest in operations in North and East China and Taiwan (collectively, “UL China”) and a 65% interest in Unique Logistics International India (Private) Limited, currently owned by Unique Logistics Holdings Limited. The new agreement extends this period to December 31, 2021. 

UNQL CEO Sunandan Ray stated: “To build on the momentum of our business growth and with our financial management team strengthened under the leadership of CFO, Eli Kay, appointed earlier this year, we have reached agreement to extend the deadline on our purchase of logistics assets in the Asia-Pacific region. These acquisitions are strategically important to our long-term business plan. We believe that these acquisitions solidify our position in critical Asian markets. We intend to complete these acquisitions and continue to negotiate on the options we have secured for additional acquisitions in Vietnam and South China under the Securities Purchase Agreement, dated May 29, 2020, entered into with Unique Logistics Holdings Limited, a Hong Kong company.” 

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UNQL has been on the move up in recent trading after a brief dip below a dime. The stock is looking to make a move back towards its 52-week highs of $0.3813 reached in February of this year after the Company reported Q2 fiscal 2021 revenues of $124.6 million for the 3 months ended November 30, 2020. 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. Things could be on the up and up; recently the Company secured a new $30 million revolving purchase loan with TBK Bank, SSB. They also have a new agreement with Korean Air to add an additional 52 cargo charter flights for the period of August 1, 2021 through December 31, 2021. These additional flights will be from Vietnam to the United States and are anticipated to create additional air cargo capacity for the Company’s customer base. UNQL is on track to easily top $400 million in revenues in 2021 and business seems to be growing; while the debt problem is serious with these kinds of sales things could turn around here in a very big way and quickly.  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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