As the ASX turns red and goes back to 5900 level, the investors became cautious and are in search of the value investments. Some of the stocks that are currently under their purview are mentioned below:
BARD1 LIFE SCIENCES LIMITED (ASX: BD1) – The company has announced that it intends to raise up to $3.3 million (before costs) by the issue of approximately 165.7 million fully paid ordinary shares at an issue price of $0.02 per share by way of a non-renounceable entitlement issue. At the end of the first quarter as on September 30, 2018, the company has posted the closing cash balance at $1.13m. The net operating cash flow of the company reported a drop from $531k of almost 74% up to $304k as reported during the previous quarter which was contributed by $30k expenditure on patents and General administration expenses and research and development expenses on BARD1 pipeline of around $32k contributing to $242k. As at November 9, 2018, the stock of BD1 traded lower at a market price of $0.023 it has witnessed a performance change of 225.00% over the past one year with a market capitalization of A$21.55 million.
FAR LIMITED (ASX: FAR) – The result in the Samo-1 well drilling is not in line with pre-drill expectations, however it is providing an abundance of new subsurface information that will help them understand the geological play along the shelf edge – an area which remains grossly underexplored. Despite reporting higher revenue and lower cost in the previous corresponding year, in the half year financial results the company posted loss of $12,077,715 for the period ended 30 June 2018. However, company reported a foreign exchange gain of $2,503,777, compared to foreign exchange loss reported in half year ended 30 June 2017. Principally due to lower exploration expenses of $12,037,359 this reflects $10,270,380 of lower loss in comparison to the previous corresponding period. The company’s net cash forecast is expected to increase by approximately $20 million. As at November 9, 2018 the stock of FAR Limited traded at a market price of $0.082 and has seen a performance change of 68.83% since the past one year.
BIOTRON LIMITED (ASX: BIT) – Biotron’s strategy is to systematically grow the value of the company and work towards a commercial outcome for shareholders which is achieved by the demonstration of positive data from clinical trials and other supporting studies. As no revenue increase was seen, compared to 2017 loss of $3,093,405, the FY18 net loss has been down by 48.5% to $1,593,645 result of which the directors did not declare dividends to be paid by the company. $4.7 million underwriting agreement was secured by the company for 30 Nov ‘18 for $0.06 options. During the year ended 30 June 2018, the company continued to fund and manage its research and development projects. The earnings per share (EPS) is negative of -0.004 AUD reflecting restrained profit. The stock is trading -4.34% lower at $ 0.110 as at November 9, 2018. The stock has undergone a performance change of 284.17% over the past 12 months period.
BD1, FAR, BIT daily price chart, Source: Thomson Reuters
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