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An Awkward Kind of Market Session On Thursday – $INVO $LI $SPRO $VIRT Rise!

By John F. Heerdink, Jr.
Quote of the Day — “With the new day comes new strength and new thoughts.” – Eleanor Roosevelt

Happy Thursday!

I hope that you were able to experience a marvelous 4th day of your workweek. As for the stock market, Thursday’s session was decidedly awkward at best from the get go after yesterday’s hawkish delivery of an interest rate increase and associated stern message from Fed Chair ‘Uncle Jerry’ Powell who reminded us that he is very serious about his fight against inflation. In concert with his stated intent to raise rates even further in this fight, the yield curve rose again today & increased its inversion as the 10-yr yield 20 basis points to close at 3.71% & the 2-yr yield moved up 17 basis points to close at 4.127%. A few other countries raised their rates today too, including England, further unsettling the world & investors alike, and placing further pressure on global growth. The US dollar index rose again by .5% to close at $111.21 and placing its own pressure on the growth and bottom lines of multinationals. 

The macroeconomic schedule also produced the initial claims report for the week ending September 17 showed a rise of 5k to 213k, while continuing jobless claims fell by 22k to 1.379M. The Q2 Current Account Deficit report showed an improvement to -$251.5B 
The August Leading Economic Index report also showed a .3% drop M/M. Oil prices closed at $83.50/bbl. 

In concert, 9 of the 11 sectors closed in the red again today with the health care sector registering a +.5% move and the communication services sector moving up .1%. All major indices closed lower, but did manage to recover from session lows. The S&P 500 closed at 3,757.98 (-.84%). The Dow also ended the session at 30,076.68 (-.35%) & Dow component and tech giant Apple (AAPL) closed down by .64% to close at $152.74.  The growth oriented and tech heavy Nasdaq faired about the same and closed at 11,066.81 (-1.37%) as EV and tech giant Tesla (TSLA) closed at $288.59 off 4.06% on the day.  The small caps on the Russell 2000 took another hit and closed at 1,731.94 (-1.72%). The MicroCaps dropped and were represented by the iShares Micro-cap ETF, which fell by 2.01% to close at $106.22. Biotech stocks also moved decidedly lower as the SPDR S&P Biotech ETF (XBI) closed down by 1.31% to close at $78.09. The 52-wk range is $61.78 – $134.79. The iShares Biotechnology ETF (IBB) also moved down to close at $116.73, -1%. The 52-range is $104.29 – $174.45. A decent measure of the markets volatility or the CBOE Volatility Index (^VIX) closed at $27.35, moving down sharply by 2.29% as it traded within the wide range of $26.71 – $28.38. 

Around the crypto and precious metals’ tree, Bitcoin (BTC) recovered to $18,243.75, +2.82`% over the last 24-hours at the time of this writing. Gold prices closed at $1,675/oz., +0/oz. & silver closed at $19.67/oz., up $.12/oz. on the day. Two mining producers closed the day as follows: Hecla Mining Company (HL) closed at $3.98, -.75% and First Majestic Silver Corp. (AG) closed at $7.34, -3.55%. Hecla Mining Company and Alexco Resource Corp. (NYSE American: AXU; TSX: AXU) recently announced on Sept 7 that the Alexco acquisition has been completed.



Shares of Spero Therapeutics (SPRO), a multi-asset, clinical-stage biopharmaceutical company focused on identifying, developing, and commercializing novel treatments for bacterial infections, including multi-drug resistant bacterial infections and rare diseases, surged to a close of $2.20, +167.74% on Thursday. The move came after GSK (GSK) had entered into an exclusive license agreement for Spero’s late-stage antibiotic asset, tebipenem HBr. Tebipenem HBr is being developed as the first oral carbapenem antibiotic for the treatment of complicated urinary tract infections (cUTI), including pyelonephritis, caused by certain bacteria. GSK is licensing the drug for an upfront payment of $66 million and with milestones the deal could be worth to $291 million. In connection with the license agreement and pursuant to a stock purchase agreement between GSK and Spero, GSK has agreed to make a $9 million common stock investment in Spero, purchasing 7,450,000 shares of Spero’s common stock at a purchase price of approximately $1.20805 per share, not to exceed 19.99% beneficial ownership of Spero by GSK and its affiliates.

Today, the SEC decided not to ban payment order flow deals. Share of Virtu Financial (VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global markets,  surged higher to close at $23.24, +8.55%. 

Shares of Li Auto Inc. (LI), a leader in China’s new energy vehicle market, moved higher to close at $24.23, +4.89%. Today, Li Auto announced that it will host a launch event to unveil Li L8, the Company’s six-seat, large premium smart SUV for families priced below RMB400,000, on Friday, September 30, 2022, ahead of schedule. Li L8 will arrive at the Company’s retail stores nationwide during the National Day holiday in China and will commence delivery in early November.

Shares of Seanergy Maritime Holdings Corp. (SHIP), the only pure-play Capesize ship-owner publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels, rose to close at $.5276, -1.35%

Shares of ADT Inc. (ADT), the most trusted brand in smart home and small business security, closed at $7.98, -.87% . On Tuesday, Sept 6, ADT and State Farm, the 100-year good neighbor and largest insurer of homes in the U.S. with 13.7 million homeowners policies in force, announced that State Farm will make a $1.2 billion equity investment in ADT, resulting in State Farm owning approximately 15% of ADT after the equity investment and the tender offer (described below) close. Additionally, ADT plans to partner with State Farm, and build upon its existing relationship with Google, with the aim to expand opportunities to combine next-generation security, innovative smart home technology and reimagined risk-mitigation capabilities to monitor, detect, prevent and optimize against homeownership risks. State Farm will commit up to $300 million to fund product and technology innovation, customer growth and marketing. In addition, Google has separately agreed to commit an incremental $150 million, subject to the achievement of certain milestones, to advance opportunities created by this type of innovation, raising its total success fund commitment to $300 million. Jim DeVries, ADT President and CEO stated, “ADT’s partnership with State Farm creates the capability to drive innovation in homeowners insurance on a broad scale. By delivering a truly connected home, together we can improve the customer experience and provide more peace of mind. These new and expanded partnerships represent another bold step forward for our company and provide ADT more avenues to grow our customer base, strengthen brand loyalty and lower customer acquisition costs.”

Memes stock GameStop Corp. (GME) closed at $24.70, -8.04% as the shorts won the battle again today. On Sept 7th, GameStop released financial results for the second quarter ended July 30, 2022. Net sales were $1.136 billion for the quarter, compared to $1.183 billion in the prior year’s second quarter. Sales attributable to collectibles, which is a segment the Company intends to grow over the long-term, were $223.2 million for the quarter, compared to $177.2 million in the prior year’s second quarter. Selling, general and administrative expenses were $387.5 million for the quarter, representing a sequential decline of 14.3% from the first quarter of 2022 and reflecting, in part, the Company’s focus on right-sizing costs following a period of significant investment in long-term initiatives. After the close today, September 7, GameStop Corp. also announced that it has entered into a partnership with FTX US (“FTX”). The partnership is intended to introduce more GameStop customers to FTX’s community and its marketplaces for digital assets. In addition to collaborating with FTX on new ecommerce and online marketing initiatives, GameStop will begin carrying FTX gift cards in select stores. During the term of the partnership, GameStop will be FTX’s preferred retail partner in the United States. The financial terms of the partnership are not being disclosed.

Shares of Apple (AAPL) closed at $152.74, -.64%. Apple enjoys a 6.82% weighting in the S&P 500. Apple’s iPhone 14 hit stores on Friday the 16th. 
At the 74th Primetime Emmy Awards, my favorite Apple TV+ series “Ted Lasso” joined the ranks of comedy legends with its win for Outstanding Comedy Series for its first and second seasons.
On Aug. 7, Apple debuted its new Apple Watch Ultra at its Far Out event, & which is to be available beginning on Sept. 23. The Apple Watch Pro starts at $799, and  features a new 49 mm case, a brighter display, night mode, and what the company touts as the Apple Watch’s “most technical face ever.” The Apple Watch Ultra also has a hihly accurate GPS and a series of sport-specific bands.  

By the way, it would appear that Apple is aiming to grab Facebook or Meta’s (META, paying advertisers and has been hiring in this area. 

On Aug. 1. reportedly Apple raised $5.5B by issuing of 4 series of bonds with ratings of AAA from Moody’s Investors Service and AA+ from S&P Global, according to Informa Global Markets.
On July 28, Apple announced financial results for its fiscal 2022 third quarter ended June 25, 2022. The Company posted a June quarter revenue record of $83.0 billion, up 2 percent year over year, and quarterly earnings per diluted share of $1.20. Tim Cook, Apple’s CEO stated, “This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers. As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.”  Luca Maestri, Apple’s CFO stated, “Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category. During the quarter, we generated nearly $23 billion in operating cash flow, returned over $28 billion to our shareholders, and continued to invest in our long-term growth plans.”
Shares of Tesla (TSLA) closed at $288.59, -4.06% today. On Aug. 5th, TSLA’s stock split 3-1. On Sept. 22, Barron’s reported that a Tesla recall affecting 1,096,762 vehicles showed up on the National Highway Traffic Safety Administration, or NHTSA, website. The recall is for a safety issue. A glitch in the power window operating system.
On Sept 20. Reuters reported, “Musk’s Texas company now is floating ambitious plans to deploy thousands of humanoid robots, known as Tesla Bot or Optimus, within its factories, expanding eventually to millions around the world, according to job postings. Buzz is building within the company as Tesla is having more internal meetings on robots, a person familiar with the matter said.”
On Friday September 9th, Elon Musk tweeted, “A major Fed rate hike risks deflation.” Bloomberg also reported that Elon stated that the global economy is  “past peak inflation.”
On Sept 7, Elon Musk has been reportedly allowed to amend the Twitter (TWTR) countersuit, however he will not be able to delay the trial with regard to his purchase of Twitter.
Recently, it was reported that Tesla sold 77k China-made cars last month, the China Passenger Car Association (CPCA) said Thursday, a 74% increase over the same period last year.  Tesla CEO Elon Musk also previously stated that the company is targeting the end of 2022 to have  self-driving technology available for consumption in the US & European markets, with a caveat that regulatory approvals will rule ultimately.
Tesla reported its Q2 earnings after the close on Tuesday, July 19, meeting analysts’ estimates. Tesla stated that it sold 75% of its Bitcoin, turning it into fiat currency, adding $936 in cash to its balance sheet, but they also ended their streak of reporting record revenue. Revenue came in at $16.9 billion vs $16.88 billion expected & Adjusted EPS: $2.27 vs $1.83 expected. Tesla still expects to see 50% annual growth in their vehicle deliveries. Tesla CEO Elon Musk believes thinks that inflation has likely peaked, he stated “If I were to guess — and I would take this with a grain of salt — I think inflation will decline towards the end of this year. We are certainly seeing prices of commodities trending lower.”

The Walt Disney Company (DIS) closed at $102.16, -2.23%. Disney recently announced that it is axing its Disney Infinity series of video games & resulted in a $147m write-off.
On Aug. 15th, a report surfaced that Dan Loeb’s Third Point Capital had built a position and was negotiating for ESPN to be rolled out. Here’s Disney’s response. 
Disney highlighted the following during their recent quarterly report: Revenues for the quarter and nine months grew 26% and 28%, respectively, Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.77 from $0.50 in the prior-year quarter. Excluding certain items, diluted EPS for the quarter increased to $1.09 from $0.80 in the prior-year quarter, Diluted EPS from continuing operations for the nine months ended July 2, 2022 increased to $1.66 from $1.02 in the prior-year period. Excluding certain items(1), diluted EPS for the nine months increased to $3.22 from $1.91 in the prior-year period. Bob Chapek, Chief Executive Officer, The Walt Disney Company stated, “We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services. With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings. We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter.”
Atossa Therapeutics (ATOS), a clinical-stage biopharmaceutical company seeking to develop innovative proprietary medicines in oncology and infectious disease with a current focus on breast cancer and COVID-19, rose to an intraday high of $.8899 prior to closing at $.8495, -.68% on 493,225 shares of trading volume. Atossa Therapeutics’ Kyle Guse, General Counsel & Chief Financial Officer attended the 24th Annual H.C. Wainwright Global Investment Conference that was held on September 12 – 14, 2022 at the Lotte New York Palace.  
On Aug. 25th, Atossa’s CEO, Dr. Steven Quay, M.D., Ph.D., and Kyle Guse, GC & CFO presented at Tribe Public’s Webinar Presentation and Q&A Event. During this complimentary event, Atossa management spoke of new opportunities for its inhalation therapy, AT-H201, to potentially treat lung injury caused by cancer treatment and were available for a Q&A session focused on Atossa’s research programs and future development. To watch the event video titled The Important Role For Inhalation Therapy In Oncology” please visit the Tribe Public YouTube Channel. 
On Aug. 18, Atossa announced the appointment of Dr. Paul Wabnitz to its Scientific Advisory Board (SAB). The Company has also re-appointed Drs. Mak Jawadekar, Per Hall, and Carl Novina to the SAB. Dr. Wabnitz has extensive experience in clinical development with a unique combination of clinical medicine, pharmacology, toxicology, and industry drug development experience. He has acted as an investigator and Medical Monitor on over 50 first in human Phase I/II clinical trials over the last two years, including several Phase I/II first in human oncology studies, as well as previously being the Executive Medical Director of a leading Australian Phase I clinical unit. His scientific background includes a Ph.D. in Organic Chemistry, a Post Doc at Parke-Davis (Ann Arbor, MI), 6.5 years of drug development industry experience (Pfizer/Esperion), an M.B.A. from the Stephen Ross School of Business (University of Ann Arbor, MI), and a Drug Development certificate in Regulatory Affairs from Temple University (Philadelphia, PA). His clinical background includes a Doctor of Medicine (M.D.), and he is a qualified Specialist Physician and Clinical Pharmacologist (Fellow of the Royal Australasian College of Physician, Australia).

On Aug. 8, Atossa announced their financial results for the fiscal quarter ended June 30, 2022, and provided an update on recent company developments. Dr. Steven Quay, Atossa’s President and Chief Executive Officer stated, “We continue to make steady progress with our Endoxifen programs: one to reduce tumor cell activity in breast cancer patients in the neoadjuvant setting; and another to reduce dense breast tissue in women. Our work on AT-H201 demonstrated valuable outcomes, not the least of which was an understanding of how to pursue its development in the field of oncology. With the widespread availability of SARS-CoV-2 vaccines and other therapies now approved to treat COVID-19, we believe that altering the development pathways for AT-H201 in cancer patients with compromised lung-function resulting from radiation treatment may fill a compelling unmet medical need and create additional value for our stockholders. Lung injury caused by radiation treatment affects 30-40% of lung cancer patients, and ~35% of esophageal cancer patients. In non-small cell cancer patients receiving concurrent chemotherapy and radiation therapy the incidence of lung injury is estimated to be greater than 60%. As we previously announced, rather than proceeding with Part D of the AT-H201 study in COVID-19 patients, we plan to quickly initiate a clinical study of patients with compromised lung function caused by radiation treatment and we anticipate announcing next steps in the coming months.”

On July 28, Atossa announced it has completed dosing participants in Part C of its Phase 1/2a clinical study of its proprietary inhalation therapy (or, AT-H201) in Australia. AT-H201 consists of two drugs previously approved by the FDA to treat other diseases. AT-H201 is intended to be inhaled via nebulizer with the goal of preventing or reducing lung injury that may be caused by fibrin deposition, fluid build-up and secondary infection. Part C of the study involved administering the two drugs in succession in healthy volunteers. The study originally included a Part D which was designed to assess the effects of the treatment regimen in hospitalized COVID-19 patients with moderate illness. However, due to the rapidly shifting COVID-19 treatment landscape and the introduction of effective vaccines limiting hospitalizations, Atossa has evaluated indications for AT-H201 beyond COVID-19 patients, including treating and/or preventing lung injury in patients undergoing certain cancer treatments.
Rather than conducting Part D of the Phase 1/2a clinical study, Atossa now plans to shift the development of AT-H201 to closely align with its oncology focus by continuing the development in patients with compromised lung-function due to the damaging effects of cancer treatment. For example, radiation treatment can lead to radiation induced lung injury, which is poorly treated with current therapies and is often irreversible. Furthermore, radiation damage can limit the overall success of lung cancer treatment leading to a reduction in efficacy and poor disease control. AT-H201 has pharmacological properties to potentially curtail excessive radiation-induced lung injury without compromising standard of care cancer therapy for cancer patients. AT-H201 is designed to prevent and reduce dose-limiting toxicities, and enable a more durable therapeutic tumor response for cancer patients receiving pulmonary radiation. Steven Quay, M.D., Ph.D., CEO and President of Atossa stated, “We are happy to have completed Parts A, B and C of the clinical trial and look forward to evaluating the results. With widespread availability of SARS-CoV-2 vaccines and other therapies now approved to treat COVID-19, we believe that altering the development pathways for AT-H201 in patients with compromised lung-function resulting from radiation may fill a compelling unmet medical need and create more value for our stockholders. Based on our work to date with AT-H201, we believe we can quickly initiate a clinical study in this setting and we plan to announce our next steps in the fourth quarter.”
Jason McCarthy Ph.D., a biotech analyst at the Maxim Group, put out a note on July 28th reconfirming his BUY rating and a $4 target price on Atossa.
On July 7th, Atossa filed an 8k at sec.gov that stated, that on July 1, 2022, Atossa Therapeutics, Inc. (“Atossa”) entered into a letter agreement (the “Letter Agreement”) with a venture-capital backed, private company based in the United States that is in the pre-clinical stage of developing novel Chimeric Antigen Receptor (CAR) T-cell therapies based on technology licensed from a leading U.S. adult and pediatric cancer treatment and research institution (the “CAR-T Company”). The Letter Agreement requires that up until November 1, 2022 the CAR-T Company will (i) negotiate exclusively with Atossa for Atossa to acquire the CAR-T Company, and (ii) address certain matters related to personnel, operations and intellectual property. Atossa has paid $3 million for the exclusive right to negotiate with the CAR-T Company. If a definitive agreement is not reached for Atossa to acquire the CAR-T Company and if a specified material adverse event has not occurred, then Atossa will pay an additional $2 million for a 19.99% preferred stock equity interest in the CAR-T Company. Atossa is under no obligation to complete the acquisition of the CAR-T Company and no assurance can be given that an acquisition will be completed on acceptable terms or at all.
Shares of Fate Therapeutics, Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for patients with cancer, closed at $22.47, -4.26%.
On Aug. 8, Fate Therapeutics announced the publication of preclinical study results demonstrating the successful generation, durable anti-tumor response, and functional persistence of TCR-CAR+ iPSC-derived CD8αβ T cells from induced pluripotent stem cells (iPSCs). The CD8αβ T cells were derived from a single engineered iPSC integrating a novel chimeric antigen receptor (CAR) transgene into the T-cell receptor alpha constant (TRAC) locus, ensuring complete bi-allelic disruption of T-cell receptor (TCR) expression and promoting uniform CAR expression. The discoveries were made under a multi-year research collaboration between the Company and Memorial Sloan Kettering Cancer Center (MSK) led by Michel Sadelain, M.D., Ph.D., Director, Center for Cell Engineering and Head, Gene Expression and Gene Transfer Laboratory, and were published this week in Nature Biomedical Engineering.
After the market closed on August 3, Fate released its business highlights and financial results for the second quarter ended June 30, 2022. Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics stated,  “We continue to make important strides across our clinical, regulatory, and manufacturing operations to support pivotal readiness of our iPSC-derived NK cell product candidates for B-cell lymphoma, and are looking forward to meeting with the FDA in the third quarter to discuss registrational pathways for the treatment of relapsed / refractory aggressive lymphomas, including for patients that have previously failed CD19-targeted CAR T-cell therapy. We are also excited that clinical investigation of FT536 has initiated to assess the targeting of oncogenic and cellular stress ligands, a novel pan-tumor-targeting strategy with the potential to overcome common mechanisms of tumor escape that frequently emerge in patients with advanced solid tumors. Finally, we continue to drive our collaborations with Janssen and Ono with strong momentum, and are well positioned to achieve significant milestones and advance three multiplexed-engineered, CAR-targeted cell collaboration candidates into clinical development over the next 12 months.”
On June 30, Fate announced that Brian T. Powl has been appointed Chief Commercial Officer. Mr. Powl brings to Fate Therapeutics extensive commercial leadership experience in hematologic malignancies and solid tumors, having previously served as the Global Commercial CAR T lead at Celgene Corporation where he oversaw the commercial development strategy of the company’s CAR T-cell therapies. Mr. Powl most recently served as Senior Vice President, Commercial Development & Marketing at MEI Pharma, Inc., where he led the commercialization efforts of a late-stage small molecule program in B-cell malignancies across marketing, sales, market access and commercial operations.
On June 28 Fate announced that it has expanded its off-the-shelf, iPSC-derived, cell-based cancer immunotherapy collaboration with ONO Pharmaceutical Co., Ltd. (ONO) to include the development of chimeric antigen receptor (CAR) NK cell collaboration candidates. In addition, as part of the collaboration’s expansion, ONO will contribute novel binding domains targeting a second solid tumor antigen. Under the original Collaboration and Option Agreement entered into between Fate and ONO in September 2018, ONO has contributed novel binding domains targeting an initial solid tumor antigen, and Fate is currently conducting preclinical development of a multiplexed-engineered, iPSC-derived CAR T-cell product candidate for solid tumors. Under the terms of the amended Collaboration and Option Agreement, Fate will advance iPSC-derived CAR NK and CAR T-cell product candidates to a pre-defined preclinical milestone, at which point ONO has an option to assume responsibility for worldwide development and commercialization with Fate retaining the right to jointly develop and commercialize in the United States and Europe. Fate retains all rights of manufacture of collaboration products on a global basis.
Shares of InMed Pharmaceuticals Inc. (NASDAQ: INM), a leader in the development, manufacturing and commercialization of rare cannabinoids, closed at $6.92/share. 

INM will report financial results on Friday, September 23, 2022 for the fiscal year ended June 30, 2022  at 10:00 AM Pacific Time, 01:00 PM Eastern Time. The Registration Link is https://register.vevent.com/register/BIa76ceda464264b3cae0b5ddb6e76a511

After the close, September 13, InMed announced the closing of its previously announced private placement with two healthcare-focused institutional investors for the issuance and sale of 691,245 of its common shares at a purchase price of $8.68 per share (or pre-funded warrant in lieu thereof) priced at-the-market under Nasdaq rules. In addition, the Company has issued to the investors in the offering unregistered preferred investment options to purchase up to an aggregate of 1,382,490 common shares.The aggregate gross proceeds to the Company from the private placement were approximately $6 million. The Company intends to use the net proceeds from the offering to continue pipeline development of its pharmaceutical drug candidates, advance manufacturing know-how of cannabinoids and cannabinoid analogs, support intellectual property development and other commercial activities, and for general working capital purposes. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The unregistered investment options issued in the offering are exercisable immediately upon issuance at an exercise price of $8.44 per share and will expire seven years from the date of issuance. In addition, an investor in the private placement agreed to cancel preferred investment options to purchase up to an aggregate of 412,331 common shares of the Company which were previously issued to the investor.
On Sept. 8, InMed announced an update on its research/development and commercial activities. Eric A. Adams, InMed CEO, stated, “The Company continues to execute on its research and development (“R&D”) plans to complete enrollment in a Phase 2 clinical program in epidermolysis bullosa (“EB”) by calendar year end, to continue to advance a preclinical drug candidate in ocular disease and to investigate the utility of proprietary cannabinoid analogs in targeting specific diseases. We remain enthusiastic with the potential of the proprietary cannabinoid analog program that resulted in part from our acquisition of BayMedica, LLC (“BayMedica”) in October 2021. However, despite the significant efforts by the commercial team at BayMedica, the market demand for the BayMedica naturally-occurring cannabinoids in the Health & Wellness (“H&W”) sector is not progressing as anticipated.” READ MORE. 
On Aug. 23, InMed announced that it would be consolidating all of its issued and outstanding share capital on the basis of one (1) post consolidation share for each twenty five (25) preconsolidation common shares of the Company (the “Consolidation”) in order to regain compliance with all of Nasdaq’s continued listing requirements. The Consolidation has now been completed. The number of issued and outstanding common shares of the Company being reduced from 18,014,937 to approximately 720,597 common shares on a non-diluted basis and each shareholder holds the same percentage of common shares outstanding immediately after the Consolidation as such shareholder held immediately prior to the Consolidation.
On Aug. 9, InMed announced the appointment of Nicole Lemerond to its Board of Directors, effective immediately. Nicole Lemerond is a financial executive with over 25 years of experience in investment management, private equity, investment banking and leveraged finance. She has significant experience executing complex transactions, managing diligence processes, raising capital and structuring balance sheets. Throughout her career, Ms. Lemerond has worked with public and private company management teams and boards to increase stakeholder value. She established and led healthcare groups at leading investment firms and has also worked at several large financial institutions, including Lehman Brothers and The Carlyle Group. Ms. Lemerond holds a Bachelor of Science degree from Cornell University and is a CFA charterholder. Contemporaneous with Ms. Lemerond’s appointment, Adam Cutler has decided to transition off the Board of Directors. Mr. Cutler has served on the Board since 2015, during which time his financial and healthcare expertise has been instrumental in advancing the strategic initiatives of the Company. Over the years, Mr. Cutler has served as Chair of the Audit Committee as well as a member Governance and Nomination Committee. Ms. Lemerond will replace Mr. Cutler as a member of the Audit Committee and as a member of the Governance and Nomination Committee.
On July 25, InMed provided an update on its Phase 2 clinical trial using investigational drug INM-755 cannabinol (“CBN”) cream for the treatment of patients with epidermolysis bullosa (“EB”) highlighting the following: 1) Phase 2 clinical trial recently expanded to include adolescents following independent review of early safety data, 2) First adolescent patient with EB enrolled into clinical trial and completed treatment, 3) International patent granted for the use of cannabinol for the treatment of epidermolysis bullosa.
On July 18, InMed announced Michael Woudenberg has been appointed Chief Operating Officer of the Company, overseeing all day-to-day operations. Mr. Woudenberg was previously Senior Vice President of Chemistry, Manufacturing and Controls. Mike has been an integral part of the executive team for the last four years, supporting multiple functions within the organisation. Prior to joining InMed, Mike had over 20 years of successful drug development, process engineering, GMP manufacturing and general management experience at all levels of various companies. Mike’s intimate knowledge of the Company’s operations and extensive leadership experience make him an ideal candidate to oversee operations and support the long-term strategic growth of the Company. He will continue to report to Eric A. Adams, InMed President and CEO.
On June 14, InMed announced that a peer-reviewed scientific study entitled “Effects of Rare Phytocannabinoids on the Endocannabinoid System of Human Keratinocytes” has been published in the International Journal of Molecular Sciences. The study, in collaboration with Dr. Mauro Maccarrone, Professor and Chair of Biochemistry at the Department of Biotechnological and Applied Clinical Sciences, University of L’Aquila, Italy, highlights the biological activity of tetrahydrocannabivarin (“THCV”), cannabichromene (“CBC”) and other rare cannabinoids and their potential role in addressing various skin conditions. In the peer-reviewed study, researchers analyzed the effects of rare cannabinoids THCV, CBC, cannabigerol (“CBG”) and cannabigerolic acid (“CBGA”) on the major endocannabinoid system elements in skin cells. Using a widely recognized in vitro model of human keratinocytes, researchers studied how these cannabinoids interacted with several receptors including cannabinoid receptors and other endocannabinoid system components. In summary, each cannabinoid had distinct biological activity via the endocannabinoid system. In particular, THCV was shown to perform as a cannabinoid receptor 1 (“CB1”) antagonist and have a high affinity for the human transient receptor potential vanilloid 1 (“TRPV1”), which is involved in skin sensation, as did CBC albeit to a lesser extent. The results from the study support additional research of these rare cannabinoids for their potential effect on skin conditions.“This study represents the first systematic analysis of the effects of the rare cannabinoids THCV, CBC, CBGA and CBG on the major endocannabinoid system elements using human keratinocytes. These initial observations should be considered when exploring the therapeutic potential of rare cannabinoids for the treatment of human skin disease,” said InMed’s scientific advisor, Dr. Mauro Maccarrone. “This peer-reviewed study provides important scientific research investigating the distinctly different physiological effects of rare cannabinoids,” said Dr. Eric Hsu, Senior VP, Preclinical Research and Development. “As we continue to expand our portfolio of rare cannabinoids, including THCV and CBC, evidence-based research is imperative to improving our understanding of their biological activity. There is growing interest in the potential benefits of rare cannabinoids and this study represents InMed’s commitment to contributing to the body of research of rare cannabinoids.” The journal article can be accessed here: https://www.mdpi.com/1422-0067/23/10/5430.
Shares of INVO Bioscience, Inc. (NASDAQ: INVO), a commercial-stage fertility company focused on expanding access to advanced treatment worldwide with its INVOcell® medical device and the IVC procedure it enables, closed at $1.26, after hitting high of $1.4799 during intraday trading and has traded up to $1.30, +3.17% in the aftermarkets. 
On Sept 22, INVO announced that Dr. Sue Ellen Carpenter of Bloom Fertility, the Company’s Atlanta-based INVO Center, was named a recipient of the Castle Connolly Top Doctor Award for 2023. Castle Connolly Top Doctor recipients are nominated by fellow physicians and other healthcare leaders around the country identifying doctors that embody excellence in clinical care as well as interpersonal skills such as listening and communicating, demonstrating empathy and instilling trust and confidence in patients. Dr. Carpenter has been a recipient of the merit-based Castle Connolly Top Doctor Award since 2018.
On Aug. 25th, INVO Bioscience announced that Advanced Reproductive Centre, Hospital Canselor Tuanku Muhriz (HCTM), formally known as Hospital Universiti Kebangsaan Malaysia (HUKM), based in Kuala Lumpur, Malaysia, is making IVC available for their patients. The move follows the successful completion of the first IVC case in the country recently with data presented at the Obstetrical and Gynecological Society of Malaysia (“OGSM”) where it was awarded a prize as a new and innovative fertility treatment. A signing ceremony announcing the launch of IVC was witnessed by the Minister of Science and Innovation and Deputy Secretary General. HCTM, one of the five university hospitals in Malaysia, is currently the highest volume fertility center in the country. Steve Shum, CEO of INVO Bioscience, commented, “We are excited that INVOcell will officially be commercialized at HCTM in Kuala Lumpur following the successful presentation of data at OGSM and government support by the Minister of Science and Innovation and Deputy Secretary General. HCTM will start offering IVC both in their public and private sectors with an expectation to complete a number of cycles by the end of 2022. We are also working with partners in Malaysia to open up an INVO Centers in their existing practice as we strive to bring our innovative advanced fertility treatment to the people of Malaysia.”
INVO Bioscience reported financial results for its second quarter 2022, ended June 30, 2022, after the market close on Monday, August 15, 2022.  INVO highlighted the following progress: Existing INVO Centers experienced a 20% increase in patient inquiries and consultations compared to the first quarter of 2022, as key activities continue to build, Progressing toward planned openings of additional INVO Centers in Tampa, Florida, Kansas City, Kansas, and the San Francisco Bay Area, In May 2022, signed an exclusive distribution agreement with Onesky Holdings Limited (“Onesky”) for mainland China (excludes Hong Kong, Macau and Taiwan). Onesky will be responsible for registering the product in the country, and upon government approval, will be obligated to purchase minimum quantities of INVOcell totaling approximately $14 million over the subsequent five-year term, & increased U.S.-based expansion opportunities post-Ferring, including both greenfield INVO Centers and potential acquisitions of established fertility clinics.
***INSIDER BUYING ALERT***– On Friday June 3, after the close, a number of Form 4’s were filed at www.sec.gov confirming that the CEO, COO, CFO and 5 members of the board of directors purchased shares at $.95/share on June 1, 2022. Here’s the link to view all of the share purchases. 

Shares of Chinook Therapeutics, Inc. (KDNY), a biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, closed at $19.66, -1.50%.

On Aug. 8, Chinook provided a business update and reported financial results for the quarter and six months ended June 30, 2022. “During the second quarter of 2022, we executed well on advancing our pipeline of clinical and preclinical programs for rare, severe chronic kidney diseases. We continue to ramp up enrollment of patients in the phase 3 ALIGN trial for atrasentan, and the data we presented at ERA from the ongoing phase 2 AFFINITY trial of atrasentan demonstrated consistent and clinically meaningful proteinuria reductions in patients with IgAN,” said Eric Dobmeier, president and chief executive officer of Chinook Therapeutics. “For BION-1301, the additional data presented at ERA from the ongoing phase 1/2 trial reaffirms its disease-modifying potential in IgAN by demonstrating durable reductions in mechanistic biomarkers and corresponding impressive proteinuria reductions. We look forward to advancing BION-1301 into a phase 3 study for patients with IgAN in 2023. We are also continuing to make progress with dose escalation in the ongoing phase 1 trial of CHK-336 in healthy volunteers and expect to report data in the first half of 2023.”

Borqs Technologies, Inc. (Nasdaq: BRQS, $.6866/share), a global provider of 5G wireless solutions, Internet of Things (IoT) solutions, and innovative clean energy, today announced its solar energy storage subsidiary, Holu Hou Energy LLC (HHE), a company that offers state-of-the-art renewable energy and energy storage systems to the Single-Family Residential, Multi-Dwelling Unit Residential and Commercial building markets, has signed a power purchase agreement (PPA) with Kapolei Diversified Properties, LLC to deliver energy to Luhauola, a new mixed-use development in Kapolei, on the island of Oahu, Hawaii. The property includes 10,000 square feet of commercial space, plus outdoor dining for local food establishments. The residential portion of the property includes 29 workforce housing rental apartments.

Holu Hou Energy brings state-of-the-art renewable energy and energy storage systems to the Single-Family Residential, Multi-Dwelling Unit Residential and Commercial building markets. With operations in California, Hawaii, Wisconsin and Shanghai, HHE engineers proprietary storage system and control platform solutions, including a breakthrough “HHE Energy Share” technology that is key to development of the Multi-Dwelling Unit Residential housing market. HHE is a vital partner for investors and asset owners that are seeking ESG solutions.

HHE will construct the Solar + Energy Storage system utilizing its market leading HoluPower Residential Energy Storage System, combined with the Residential and Commercial scale solar generation. The contract is valued at several million dollars and includes 200KW of PV and 500KWh of energy storage. The system will be placed into service in 2023.

Brad Hansen, CEO of Holu Hou Energy

“Our products and services are improving the lives of customers every day by delivering cheaper, cleaner and more reliable electricity, including to those living in Multi-Dwelling Unit residential housing,” stated Brad Hansen, CEO of Holu Hou Energy. “We look forward to building on our Hawaii leadership position and bringing this same energy independence to markets like California in the near future. The cost of utility electricity in Hawaii has risen by about 60% over the last 18-months, with residential rates being at a historical high of around $0.50/kWh. Reliance on fuel oil for a significant part of Hawaii’s power generation means that these unprecedented rates are not likely to abate soon. HHE brings the most safe and productive solar and energy storage solutions to customers, including to those in income brackets not historically able to have their energy needs met by renewables.”

U.S. Energy Information Administration data shows oil generated about two-thirds of Hawaii’s electricity in 2021. That makes Hawaii the most petroleum-dependent state.

“In July of this year, HHE signed agreement with Honokea Villages to deliver a major renewable energy generation and storage system to Honokea’s planned ecological sports training and Hawaiian Cultural facility in their “ahupua’a”, or local community. The development will have Olympic calibre training facilities for surfing, sport climbing, kayaking, beach volleyball, and more, and will serve as tool to celebrate athletics in Hawaii. The renewable energy system will feature over 3 MW of PV generation and over 4 MWh of energy storage, enough to power 100% of the operations of the facility, and will be financed under a 20-year power purchase agreement, or PPA. The system provided by HHE will begin construction in 2023 and its value is estimated at nearly $20M. This project is included in the $49.8 million of Q2 2022 signed contracts announced earlier this month,” stated Pat Chan, CEO of Borqs Technologies, “ESG is becoming increasingly imperative in this global energy crisis. Global warming and dependence on fossil fuel continue to affect the economy and people’s everyday life. Our Holu Hou Energy subsidiary is on track to executing an exciting business plan to grow its market share in Hawaii, one of the states with the highest electricity prices in the U.S., and is actively in discussions with potential customers in California, which is expected to be more than 30 times bigger than the market in Hawaii merely based on residential electricity usage.”

Economic Reports

On  Monday, the September NAHB Housing Market Index report confirmed a mark at 46 showing a further dip below the Mendoza line (50) and exhibiting that confidence took a further hit.

On Tuesday, the August Housing Starts and Building Permits report confirmed that housing starts came in totaling 1.575M in August & building permits in August clocked in lower at 1.517M.

On Wednesday, the weekly MBA Mortgage Applications Index report confirmed a 3.8% increase. However, the existing home sales report showed a .4% M/M decline in August to a seasonally adjusted annual rate of 4.80M. Existing how sales have now dropped for 7 consecutive months and now total sales in August are 19.9% Y/Y. The weekly EIA Crude Oil Inventories report also confirmed a 1.14M barrel build.

On Thursday, the initial claims report for the week ending September 17 showed a rise of 5k to 213k, while continuing jobless claims fell by 22k to 1.379M. The Q2 Current Account Deficit report showed an improvement to -$251.5B 
The August Leading Economic Index report also showed a .3% drop M/M.

Investing & Inspiration

  1. “With the new day comes new strength and new thoughts.” – Eleanor Roosevelt
  2. “Give me the luxuries of life and I will willingly do without the necessities.” – Frank Lloyd Wright
  3. “To begin, begin.” – William Wordsworth

“You can find peace amidst the storms that threaten you.” – Joseph B. Wirthlin

“Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke

“Whenever you find yourself on the side of the majority, it is time to pause and reflect.” – Mark Twain

“Adapt or perish, now as ever, is nature’s inexorable imperative.” – H. G. Wells

“Won’t be long before we view gasoline cars the same way we view steam engines today.” – Elon Musk

“The aim of life is to live, and to live means to be aware, joyously, drunkenly, serenely, divinely aware.” – Henry Miller

“It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare“Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas A. Edison“Experience is one thing you can’t get for nothing.” – Oscar Wilde

“Any sufficiently advanced technology is indistinguishable from magic.” – Arthur C. Clarke

“Good questions outrank easy answers.” – Paul Samuelson

“Thinking: the talking of the soul with itself.” – Plato

“I don’t think of all the misery but of the beauty that still remains.” – Anne Frank

“All money is a matter of belief.” – Adam Smith

“People are not disturbed by things, but by the view they take of them.” – Epictetus

“Uncertainty is seen to retard investment independently of considerations of risk or expected return.” – Ben Bernanke

“I never called my work an ‘art’. It’s part of show business, the business of building entertainment.” – Walt Disney

“Hitch your wagon to a star.” – Ralph Waldo Emerson

“The greatest remedy for anger is delay.” – Lucius Annaeus Seneca

“Great minds discuss ideas; average minds discuss events; small minds discuss people.” – Eleanor Roosevelt

“Act as if what you do makes a difference. It does.” – William James

“Success – keeping your mind awake and your desire asleep.” – Walter Scott

“If I had to live my life again, I’d make the same mistakes, only sooner.” – Tallulah Bankhead

“When one must, one can.” – Charlotte Whitton

“Wealth consists not in having great possessions, but in having few wants.” – Epictetus

“If we open a quarrel between past and present, we shall find that we have lost the future.” – Winston Churchill

“Hope is patience with the lamp lit.” – Tertullian

“A single sunbeam is enough to drive away many shadows.” – Francis of Assisi

“With the past, I have nothing to do; nor with the future. I live now.” – Ralph Waldo Emerson

“Laziness may appear attractive, but work gives satisfaction.” – Anne Frank

“I never think of the future – it comes soon enough.” – Albert Einstein

Hope is but the dream of those who wake.” – Matthew Prior

“The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul

“Real knowledge is to know the extent of one’s ignorance.” – Confucius

“Better keep yourself clean and bright; you are the window through which you must see the world.” – George Bernard Shaw

Nothing great in the world has ever been accomplished without passion.” – Georg Wilhelm Friedrich Hegel

“History is a vast early warning system.” – Norman Cousins 

“We first make our habits, and then our habits make us.” – John Dryden

“The traveler sees what he sees, the tourist sees what he has come to see.” – Gilbert K. Chesterton

“Adventure is worthwhile.” – Aesop

“We must build dikes of courage to hold back the flood of fear.” – Martin Luther King, Jr.

“The return we reap from generous actions is not always evident.” – Francesco Guicciardini

“Courage is knowing what not to fear.” – Plato

“Science may never come up with a better office communication system than the coffee break.” – Earl Wilson

“Progress was all right. Only it went on too long.” – James Thurber

“If you would know strength and patience, welcome the company of trees.” – Hal Borland

“We aim above the mark to hit the mark.” – Ralph Waldo Emerson

“Hope is being able to see that there is light despite all of the darkness.” – Desmond Tutu

“Our chief want is someone who will inspire us to be what we know we could be.” – Ralph Waldo Emerson

“Patience is a virtue, and I’m learning patience. It’s a tough lesson.” – Elon Musk

“Great things are done when men and mountains meet.” – William Blake

“The man who has no imagination has no wings.” – Muhammad Ali

“Formula for success: rise early, work hard, strike oil.” – J. Paul Getty

“Action is the foundational key to all success.” – Pablo Picasso

“Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.” – Samuel Smiles

“The backbone of surprise is fusing speed with secrecy.” – Carl von Clausewitz

“There are no shortcuts in evolution.” – Louis D. Brandeis

“I am fascinated by what is beautiful, strong, healthy, what is living. I seek harmony.” – Leni Riefenstahl

“If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.” – Henry David Thoreau

“Waste no more time arguing about what a good man should be. Be one.” – Marcus Aurelius

“It is during our darkest moments that we must focus to see the light.” – Aristotle Onassis

“Courage is fear holding on a minute longer.” – George S. Patton

“You must be the change you wish to see in the world.” – Mahatma Gandhi

“Don’t judge each day by the harvest you reap but by the seeds that you plant.” – Robert Louis Stevenson 

“It is in the character of very few men to honor without envy a friend who has prospered.” – Aeschylus

“Life is a series of natural and spontaneous changes. Don’t resist them – that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.” – Lao Tzu

“The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey

“Anything simple always interests me.” – David Hockney

“He who angers you conquers you.” – Elizabeth Kenny

“Concision in style, precision in thought, decision in life.” – Victor Hugo

“The secret of genius is to carry the spirit of the child into old age, which means never losing your enthusiasm.” – Aldous Huxley

“View health as an investment, not an expense.” – John Quelch

“The most effective way to do it, is to do it.” – Amelia Earhart

“Man needs his difficulties because they are necessary to enjoy success.” – A. P. J. Abdul Kalam

“Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha

“Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke

“You must do the things you think you cannot do.”- Eleanor Roosevelt

“Success is dependent on effort.” – Sophocles

“Nobody who ever gave his best regretted it.” – George Halas

“Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.” ~ Oprah Winfrey

“And when I breathed, my breath was lightning.” – Black Elk

“Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall

“You are the sum total of everything you’ve ever seen, heard, eaten, smelled, been told, forgot – it’s all there. Everything influences each of us, and because of that I try to make sure that my experiences are positive.” – Maya Angelou

“If you want a guarantee, buy a toaster.” – Clint Eastwood

“We are an impossibility in an impossible universe.” – Ray Bradbury

“If you think in terms of a year, plant a seed; if in terms of ten years, plant trees; if in terms of 100 years, teach the people.” – Confucius

“I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller

Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu

“It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell

“Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”

Surprise is the greatest gift which life can grant us.” –  Boris Pasternak

“Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 

“Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee

“All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson

“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell

“There is more to life than increasing its speed.” – Mahatma Gandhi

“Your attitude is like a box of crayons that color your world. Constantly color your picture gray, and your picture will always be bleak. Try adding some bright colors to the picture by including humor, and your picture begins to lighten up.” – Allen Klein

“Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone

“Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau

“In matters of truth and justice, there is no difference between large and small problems, for issues concerning the treatment of people are all the same.” – Albert Einstein

“Life is too short for long-term grudges.” – Elon Musk

There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger

“Success consists of getting up just one more time than you fall.” – Oliver Goldsmith

“The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky

“Ours is a world of nuclear giants and ethical infants. We know more about war that we know about peace, more about killing that we know about living.” – Omar N. Bradley

“Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi

“But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway

“Don’t watch the clock; do what it does. Keep going.” – Sam Levenson

“Let there be work, bread, water and salt for all.” – Nelson Mandela

“The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes

“A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout

“I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.” – Albert Einstein

“It is the fight alone that pleases us, not the victory.” – Blaise Pascal

“If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming

“Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte

“Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln

“Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent

“You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln

“Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy

“Delete the negative; accentuate the positive!” – Donna Karan

“It’s crazy how fast time flies and how things progress.” – Nathan Chen

“The world is a dangerous place to live; not because of the people who are evil, but because of the people who don’t do anything about it.” – Albert Einstein

“Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw

“Everything has beauty, but not everyone sees it.” – Confucius

A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.” – John C. Maxwell

“Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller

“A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin

“The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.” – Michelangelo

“Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl

“I like to encourage people to realize that any action is a good action if it’s proactive and there is positive intent behind it.” – Michael J. Fox

“Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn

“But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye

“Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.” – Andrew Ross Sorkin

“Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin

“No matter what you’re going through, there’s a light at the end of the tunnel and it may seem hard to get to it but you can do it and just keep working towards it and you’ll find the positive side of things.” – Demi Lovato

“Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni

“Educating our children and giving them the skills they need to compete in a global economy is a smart investment in our country’s future.” – Sheldon Whitehouse

“Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu

“If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca

“Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt

“The sofa is a really important investment for anybody, and I don’t mean financially. You need to find a really great sofa that can transition with you, and you can build from there.” – Jeremiah Brent

“There is no investment you can make which will pay you so well as the effort to scatter sunshine and good cheer through your establishment.” – Orison Swett Marden

“Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie

“There is little that can withstand a man who can conquer himself.” – Louis XIV

“In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son

“A camel makes an elephant feel like a jet plane.” – Jackie Kennedy

“The advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.” – Bill Gates

“Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 

“Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale

“Never do anything against conscience even if the state demands it.”– Albert Einstein

“Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey

“The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson

“In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?” – Li Lu

“A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout

“The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.

“Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel

“Investing in women’s lives is an investment in sustainable development, in human rights, in future generations – and consequently in our own long-term national interests.” – Liya Kebede

“Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka

“No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 

“Start where you are. Use what you have. Do what you can.”– Arthur Ashe

“The secret of getting ahead is getting started.” – Mark Twain

“The amount of work and the amount of both physical and emotional investment it takes to get to the top.” – Drew Bledsoe

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