Latest updates and financials:
AFFINITY ENERGY AND HEALTH LIMITED (ASX: AEB) – To pursue the application of Affinity’s algae biomass and oils, and cannabis oils for use in Skin Elements’ range of natural skin care products, Affinity Energy and Health Limited (ASX: AEB) and Skin Elements Limited (ASX: SKN) have lately entered into a Memorandum of Understanding (MOU). The loss of the group amounted to $8,099,853 compared to 2017 loss of $3,787,794 after including a tax refund due for R & D activities in the financial year of $2,509,465 as compared to 2017 of $2,116,586. An agreement with the Reliance Group of India for the research and development of algae species and the supply of a pilot plant resulted into the revenue derived from the provision of services and equipment. The stock traded flat at $0.015 as at December 3, 2018 which is near its 52-week low.
LIFESPOT HEALTH LTD (ASX: LSH) – To now fully own the Seng Vital Company and smart cannabis vaporizer assets, Lifespot has now completed the acquisition of the remaining 50% of Seng Vital. According to research vapor market is expected to grow over $86.43 billion by 2025, growing at a CAGR of 23.25% from 2017 to 2025 and the uniqueness of the smart cannabis vaporizer allows the company to extend the device’s use into this international opportunity. The company’s revenues from ordinary activities are up by 106% to $307,150. The loss for the company amounted to $1,066,568 as compared to 30 June 2017 of $1,344,354 and there were no dividends paid due to the loss for the half-year during the current financial period. The cash reserves at the end of the financial half-year was of $3,315,758. The stock traded flat at $0.076 as at December 3, 2018 which is near its 52-week low.
AUSCANN GROUP HOLDINGS LTD (ASX: AC8) – Its proprietary solid hard-shell capsules for treatment of chronic pain and manufacture release of its first medicinal cannabis product line has been announced by the company and that it has appointed TGA licensed PCI Pharma. They are scheduled to release in H1 2019. The company has cash and cash equivalents as at 30 September 2018 of $43.732 million and with no debt facility which signifies a healthy balance sheet. The company address the medical needs of doctors and their patients develop and produce cannabinoid pharmaceuticals. Following A$35m placement the company is well funded into CY2019. The stock traded at $0.705 as at December 3, 2018 which is near its 52-week low and has seen a performance change of -11.39% in one year.
MEDLAB CLINICAL LIMITED (ASX: MDC) – The company has received formal approval from the DSMB to proceed to Stage 2 of the human cancer trial after it completed stage 1 of the NanaBis human trial on cancer patients at RNS. The company has reported FY 2018 revenue from ordinary activities up to 25% from FY 2017 and Q1 2018 revenue from ordinary activities up 24% from Q1 2017. The cash reserves as at 30 September 2018 was of $18.4M. The company’s Nutraceutical business continues to grow with an increase of 26% for FY2018 compared to FY 2017 and plans in place for significant expansion to nutraceutical sales in FY 2019. The stock traded flat at $0.380 as at December 3, 2018 which is near its 52-week low and has undergone a performance change of 5.56% over the past one month.
BOD AUSTRALIA LIMITED (ASX: BDA) – For its patented sublingual form of medicinal cannabis in gaining an export listing on the Australian Register of Therapeutic Goods, the company has been successful. The company is expected to leverage relationships with global partners including Schwabe Group ~€1Bn sales Germany’s largest business, Ipsen ~€12Bn French pharmaceutical business. From both an operational and corporate perspective for Bod Australia Limited the financial year ending 30 June 2018 (FY2018) has been a period of significant growth. Revenue for the period FY 18 was $1,170,206, which represents a 231% increase on the previous corresponding period of FY2017 was $352,877. The stock traded flat at $0.505 as at December 3, 2018 and has undergone a performance change of 69.84% over the past one year.
MGC PHARMACEUTICALS LTD (ASX: MXC) – The company has provided legally binding documents for the sale of MGC Derma d.o.o. to CannaGlobal Canada Co Inc. private Canadian cannabis investment company. Under the CannaGlobal 5-year Supply Agreement, it has received cleared funds in its bank account for the first C$0.5 million from CannaGlobal for the first order of CBD and cosmetic materials. The company also delivered the world’s first library on research and information during the financial year. However, the consolidated loss of the Group from continued operations amounted to $8,990,470 as compared to the 2017 loss of $8,502,025. The cash reserves at the end of the year FY 18 was $9,858,977 with no debt representing decent balance sheet. The market capitalization at current market price is $50.94 million. The stock traded at $0.043 as at December 3, 2018 and has undergone a performance change of 158.22% over the past one year.
Market cap of AEB, LSH, AC8, MDC, BDA; Source: Thomson Reuters.
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