Players on a Small Boat but with Big Gains: SHO, IBX, FRX, CLQ

Summary

  • With the market settling in the red zone on 22 July 2020, there were some small-cap players whose share price skyrocketed on the ASX.
  • Sports gamification platform SportsHero shares were up by 10%, influenced by the new binding term sheet with US-based Mint Capital Advisors.
  • Tech player recently announced that non-renounceable Rights Issue would raise up to A$1.02 million; stock soared ~31% on 22 July.
  • Clean TeQ Holdings stock surged ~22% on the back of an announcement regarding the Company’s collaboration with Relativity Space to develop scandium-aluminium alloys for 3D printing of launchers for commercial orbital launch services.

The ASX had been relatively stable in July 2020 with no significant deviations. However, by the end of the day’s trade on 22 July 2020, many sectors settled in the red zone. The benchmark index S&P/ASX 200 slipped 1.32% and settled at 6,075.1. Amongst various sectors, All Technology index and Information Technology were the worst performers with a fall of over 2% in their respective values. On the other hand, Emerging Companies were amongst the best performing sector with a growth of 1.27% and settled at 1,470.1.

Despite, the gloomy trading session on 22 July 2020, some small-cap companies reported a significant growth in their respective share prices.

Below is a table including the performance of four such stocks that posted significant gains in their share price – SHO, IBX, FRX and CLQ.

Let us throw some light on these stocks and look at their recent update and stock performance.

SportsHero Limited (ASX:SHO)

A sports gamification platform, Singapore-headquartered SportsHero Limited allows users to forecast, interact, and compete on major sports virtually in real-time.

On 21 July 2020, the Company announced that it had signed a binding term sheet with a US-based independent firm Mint Capital Advisors to provide up to A$5 million in equity funding for three years. SHO’s entry into this facility for three years is a component of its broader strategy related to the resumption of global football competitions, which include the English Premier League and Spain’s La Liga.

The equity funding offered by Mint can be accessed by the Company on a discretionary basis as and when it is required. It will be used for funding the working capital requirements. These funds would allow SportsHero to implement its growth strategy.

GOOD READ: Sports Back to Some Gains: PBH, SHO

Imagion Biosystems Limited (ASX:IBX)

Healthcare player Imagion Biosystems Limited provides tools that help to detect and eliminate cancer. The Company has multidisciplinary team has skills in the physics of magnetic fields and nanotechnology and the medical application of these fields.

On 22 July 2020, the Company released its AGM presentation where it highlighted its critical achievements in the first half of 2020. Some of the recent updates are:

  • During June 2020, IBX received confirmation of plans to perform the trial in Australia in two imaging modes.
  • In May 2020, the Company signed a collaboration deal with Siemens Healthineers to examine clinical use of MRI with MagSense™ nanoparticles.

IBX’s presentation also provided an overview of the staging of HER2 metastatic breast cancer along with the pathway.

Sydney University indicates Imagion nanoparticles enable low-field MRI

On 21 July 2020, IBX stated that according to research by the University of Sydney, the Company’s iron oxide nanoparticles enable low-field magnetic resonance imaging. This development could help lower the cost and improve access to MRI. The study strengthens Imagion nanoparticles’ commercial opportunity.

Collaboration with Boston University on NextGen Imaging Technology

Earlier, on 13 July, the Company announced that it had become a member of Boston University’s Nanosystems Engineering Research Center (NERC). Researchers at NERC are building ultrasensitive magnetic sensors that could make the MagSense™ detection system simpler. The research could enable cancer detection technology being utilised in a hospital imaging suite and a doctor’s suite.

Flexiroam Limited (ASX:FRX)

Flexiroam Limited is an ASX-listed technology company that focuses on IoT, AI and financial technology. The Company’s asset-light business model provides the flexibility to grow business capacity, expand geographical reach, and to invest in innovations like eSIM, Artificial Intelligence, and machine learning with least expenses.

Non-Renounceable Rights Issue to Raise Up To A$1.02 Million:

On 14 July 2020, the Company announced a fully underwritten, non-renounceable pro-rata rights issue of ~101,734,764 fully paid ordinary shares. Each share was issued at A$0.01 to raise A$1.02 million.

Under the Rights Offer, the shareholders whose registered address is in Australia, Malaysia and New Zealand can subscribe for one new share for every three current shares held by them.

The proceeds from the Offer would provide vital working capital to the Company so that it can carry on with its investment in its innovative global connectivity platform. The proceeds would also help in the product development, and augment general working capital requirement.

Landmark Partnership with Mastercard:

On 11 June 2020, Flexiroam Limited announced that it has a landmark partnership with Mastercard. Under this partnership, Flexiroam global data plan would be offered as benefits to cardholders for the first time, with select cardholders in Taiwan the first beneficiaries of the program.

Those eligible Mastercard cardholders will be provided five days of global roaming data of up to 1 GB. They would be used in more than 100 countries and over 200 networks that Flexiroam is associated. Further, the Mastercard cardholder would also be eligible up to a discount of 15% on all Flexiroam data plans.

Clean TeQ Holdings Limited (ASX:CLQ)

Clean TeQ Holdings Limited engages in metals recovery and treatment of industrial water via its continuous ion exchange technology, Clean-iX®.

On 22 July 2020, the CEO of Clean TeQ announced a partnership with Relativity Space, Inc for the building of AI-Sc alloys to be used in 3D printing of launchers for orbital launch services. Both the companies have approved a binding Scandium Offtake Heads of Deal for Clean Teq to provide scandium oxide from its Sunrise Project in New South Wales, Australia.

As per the Company, the association between both the parties is in line with CLQ’s long-term strategy to assist industry players in examining and developing new applications for AI-Sc alloys. Clean TeQ aims to accelerate growth in demand for the material which will be translated into sales of scandium from the Sunrise Project once it is functional.

The technical and marketing team would be working with Relativity Space, Inc. to build AI-Sc alloys for Relativity’s patented Stargate 3D printing process.


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