Eden Innovations’ Share Price Mounted Up after the news on commencement of its First Federal Funded Highway Repair Project

Eden Innovations

Eden Innovations Ltd (ASX: EDE) is a provider of technical solutions like EdenCrete, which is a carbon nanotube enriched admixture that delivers stronger, durable, tougher and longer lasting concrete. On 24 September 2018, Eden Innovations Ltd.’s  share price increased by 37.143% after the company announced about the commencement of its first Federal funded highway repair project in Twiggs County, Georgia. The project is estimated to use approximately US$525,000 worth of EdenCrete®. It is the largest individual project Contract for the company and it is the first federal funded contract. It is a major milestone for the company as through this project the company continues to expand its sales footprint into the huge U.S. infrastructure and commercial concrete markets.

The work on this project is expected to start within next seven to ten days and it is anticipated that the project will be completed in three to four months. The first of the four tanker load which is required for the project has been dispatched from Colorado to Georgia in Eden’s new road tanker. The Federal Highway Administration (“FHWA”) and the Georgia Department of Transportation (“GDOT”) are together going to fund this project. FHWA will be contributing 80% of the costs. This project required the concrete to meet certain specific performance standards in relation to compressive strength, flexural strength, abrasion resistance and permeability, in order to deliver better quality of concrete. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]

For the year end 30 June 2018, the company’s revenue from operating activities increased by 38.9% to $1.3 million in FY2018 from $0.95 million in FY2017. The major reason behind the increase in the revenue is the increase in the sales of the company. Increase in sales has also resulted in decrease in the loss from ordinary activities by 3.9% to $10.8 million in FY 2018 which was $11.7 million in FY 2019. During the financial year the net assets of the company and its controlled entities reduced by $1.8 million from $19.6 million in FY2017 to $17.8 million in FY2018 which reflects the net effect of capital raised during the year less the loss for the year. Basic/diluted loss per share is 0.8267 cents in FY2018 compared to 0.9138 cents a year ago. Net cash used in operating activities is $9.2 million compared to $8.45 million a year ago. Purchase of property, plant and equipment is $1.35 million in FY 2018 which was $ 7.9 million a year ago. Capital expenditure of the company is $0.6 million compared to $10 million a year ago. Recently, the company announced that it has appointed Parchem Construction Supplies Pty Ltd as the exclusive New Zealand and Australian distributer of EdenCrete® products. EDE’s shares traded at $0.048 with a market capitalization of $51.39 million as on 24 September 2018.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Checkout our Free Dividend Stocks Report

Specially made for income-hungry investors, Invest in growing Franked Dividends an opportunity that should not be missed.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report