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Stocks Move Higher & Yields Drop To Kick Off 2023 – $AAPL $ATOS $BRQS $DIS $INVO $SHIP Rise!

By John F. Heerdink, Jr.
Quote of the Day: There is little that can withstand a man who can conquer himself.” – Louis XIV


Happy End to the First Week of 2023!

I hope that you had a wonderful beginning to your year and that we all have prosperous balance in view. As for the markets this week, we experienced a refreshingly overall upward move that some would attribute to a solid start to a January effect. As reminder, the January effect is a hypothesis that there is a seasonal anomaly in the financial market where securities’ prices increase in the month of January more than in any other month. This calendar effect would create an opportunity for investors to buy stocks for lower prices before January and sell them after their value increases. Others might attribute this week’s overall positive swing to a turn of beliefs that the Fed might actually be approaching a point that it could pause or stop their inflation battling rate hikes. This swing in attitude or understanding was fueled by this week’s macroeconomic report schedule that somewhat strengthened this argument. On Tuesday, the total construction spending report showed a .2% M/M rise in November, while the total private construction report confirmed a .3% M/M rise & total public construction spending came in lower by .1%, thus leaving total construction spending up 8.5% Y/Y. The final IHS Markit Manufacturing PMI reading report for December came in flat at 46.2. On Wednesday, the MBA Mortgage Applications Index report for the week ending December 31 confirmed a whopping 13.2% drop. The December ISM Manufacturing Index report showed a fall to 48.4% a further cementing the contraction level. The JOLTS – Job Openings report also moved up to 10.458M in November. On Thursday, the ADP Employment Change report that confirmed that private employers added 235k jobs in December. The initial jobless claims report for the week ending December 31 confirmed a drop by 19k to 204k, while continuing jobless claims for the week ending December 24 came in 24k lower to 1.694M. The trade deficit report also showed a narrowing to $61.5B in November pointing to an overall weakening in global demand. The final IHS Markit Services PMI report reading for December clocked in at 44.7. The weekly EIA Natural Gas Inventories report confirmed a 221 bcf draw. Finally, the weekly EIA Crude Oil Inventories report confirmed a 1.69M bbl build. On Friday, the Nonfarm payrolls report showed a 223k rise in December , while nonfarm private payrolls rose by 220k. The unemployment rate also dropped to 3.5% in December, while average hourly earnings moved up by .3%, however the average workweek slipped to 34.3 hours in December. The ISM Non-Manufacturing Index report for December confirmed a move down to 49.6% and into contraction territory signifying an economic slowdown. The factory orders report also showed 1.8% M/M drop in November as shipments of manufactured goods fell.6% M/M. The yield curve pulled back considerably this week, with the 2-yr note yield falling 15 basis points to close at 4.27% & the 10-yr note yield moving down by 32 basis points to close at at 3.56%.

At the end of the week, the major indices closed with the S&P 500 closing at 3,895.08 (+1.4%) for the week. 9 of the 11 sectors closed in the green with three sectors leading the overall upward charge including the communication services sector (+3.7%), the materials sector (+3.5%), & the financials sector (+3.3%). The laggards included the energy sector that fell .2% as oil prices fell a solid 8.1% to end at $73.76/bbl as growth concerns flourished & the health care sector move down .2%.  The 6.82% weighting of the shares of Apple (AAPL) helped the markets edging up to $129.62,+.01% over the last 5-days.  The shares of EV giant Tesla (TSLA) added pressure this week as it closed at $113.06, -7.19% over the last 5-days as Elon Musk reported deliveries that did not meet expectations.  The Dow 30 closed lower at 33,630.60 (+1.5%). The Nasdaq clocked a win and 10,569.20 (+1.0%) for the week. With the positive market swing, the CBOE Volatility Index (^VIX) closed at $21.13, off 1.45% over the last 5-days. The small caps on the Russell 2000 closed at 1,792.80 (+1.8%). The MicroCaps showed particularly relative strength this week as the iShares Micro-Cap ETF (IWC) closed at $109.27, up a welcomed 2.04%.  



BIOTECH AND HEALTHCARE

Biotech stocks rose overall this week as the sector has seen an increase of significant mergers, acquisitions, and public offerings, traditionally good signs that the situation getting ‘cleaned up’ in this recently beaten down sector.  As suggested, please keep an eye on this sector as mergers, acquisitions, larger public offerings and private placements and a recent and decently sized IPO or two, not to mention when the science actually works like the couple examples from this week, the sector is beginning to paint a brighter and different picture in ‘biotech land’ as we head towards the famous annual JPMorgan Healthcare Conference in San Francisco this coming week. I am hearing that this year’s ‘in-person’ conference, the first time since COVID, could turn out to the largest ever.

Note that our sister organization, Tribe Public, will be hosting an a FREE Tribe Public Presentation and Q&A Luncheon Event with Cytovia Therapeutics, a company that aims to accelerate patient access to transformational cell therapies and immunotherapies, addressing several of the most challenging unmet medical needs in cancer. The event will be co-hosted by Daniel Teper, PharmD, MBA, Co-Founder, Chairman & Chief Executive Officer of Cytovia Therapeutics, and his presentation is titled “Cell Therapy Revolution Toward A Cancer Cure.” If you will be in town next week, please send me a note or call and I will do my best to reserve you a seat. 

The Nasdaq Biotechnology ETF (IBB) moved up and closed at $133.14, +1.37%. The NYSE ARCA Biotech Index (^BTK) closed at 5,281.10, -1.60% over the last 5-days and is now down 4.30% YTD. The SPDR S&P Biotech ETF (XBI) closed at $83, +.22% over the last 5-days & is now down 25.87% YTD. The 52-week range is is now $61.78-$115.64.

The iShares U.S. Healthcare ETF (IYH) closed at $283.90, +.71% over the last 5-days and is down -5.48% YTD.

EV, TECH, CONSUMER, FINANCIALS

Apple (AAPL) closed at $129.62, +.01% over the last 5-days. Apple represents a 6.82% weighting in the S&P 500. According to Bloomberg, Apple has generated a $454B in cash in the past 5 years from operations, all of which it has returned to shareholders in a form of stock buybacks and dividends. That’s more than the market value of Exxon Mobile (XOM)or JP Morgan Chase (JPM).


 
 
 
The Walt Disney Company (DIS) closed at $93.92, +7.73% over the last 5-days.
 
The Walt Disney Company will discuss fiscal first quarter 2023 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Wednesday, February 8, 2023. Results will be released after the close of regular trading on February 8, 2023. To listen to the webcast, please visit www.disney.com/investors. The webcast presentation will be archived.
 
On Jan.4, The Walt Disney Company marked its 100th anniversary in 2023, Disney Consumer Products, Games and Publishing will unveil exciting new collections and experiences celebrating Disney 100 Years of Wonder. 2023 will celebrate the storytellers who have brought generations the wonder and magic that is Disney, and the fans and families who have brought Disney into their hearts throughout the past 100 years. Everyone can share their favorite moments using #ShareTheWonder and #Disney100.
 
On Dec. 31, The Walt Disney Company announced they they recently became aware that TRC Capital Investment Corp. (TRC) has made an unsolicited mini-tender offer to purchase up to 1,500,000 shares of Disney common stock, and, per a press release issued by TRC on December 28, 2022 (the TRC Press Release), has amended the terms of such offer to decrease the offer price payable to $85.00 a share, down from a prior offer price of $89.15 a share. Disney recommends that shareholders not tender their shares in response to TRC’s unsolicited offer because the offer price of $85.00 per share is below the current market price for Disney shares. This means that, based on today’s closing market price, Disney shareholders who tender their shares in the offer will receive a below-market price.
 
Disney’s“Avatar: The Way of Water”, which missed industry expectations of +$170M, but did take in approx. $134M in the domestic markets in its opening weekend, has now topped over $1B in the global box office.
 
On Dec. 8, Disney+ launched its new ad tier. “We expect Disney to generate anywhere from about $500 million to even up to $1 billion dollars in ad-supported revenue on the Disney+ product in their first year of operation,” Geetha Rangathan, analyst at Bloomberg Intelligence, told Yahoo Finance Live.
 
On Nov. 21, Disney announced that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately. Mr. Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney’s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term. Mr. Iger succeeds Bob Chapek, who has stepped down from his position. Mr. Iger stated, “Disney and its incomparable brands and franchises hold a special place in the hearts of so many people around the globe—most especially in the hearts of our employees, whose dedication to this company and its mission is an inspiration. I am deeply honored to be asked to again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unrivaled, bold storytelling.”


 

Shares of JPMorgan (JPM) closed at $137.94, +3.54% over the last 5-days.  JPMorgan will host a conference call to review fourth-quarter and full-year 2022 financial results on Friday, January 13, 2023 at 8:30 a.m. (EST). The results are scheduled to be released at approximately 7:00 a.m. (EST). The live audio webcast and presentation slides will be available on www.jpmorganchase.com under Investor Relations, Events & Presentations.

On December 13, the Board of Directors of JPMorgan declared a quarterly dividend of $1.00 per share on the outstanding shares of the common stock of JPMorgan Chase. The dividend is payable on January 31, 2023, to stockholders of record at the close of business on January 6, 2023.

Shares of Amazon.com, Inc. (AMZN) closed $86.08, +2.26% over the last 5-days.  Amazon already announced plans to lay off 10k corporate employees in November & now has announced another 8k.

Shares of Microsoft Corp. (MSFT) closed at $224.93, -6.67% over the last 5-days. This week, UBS Group AG analyst downgraded MSFT pointing out their concerns about regarding the cloud-computing business.

Shares of Salesforce, Inc. (CRM) closed at $140.51, +6.01% over the last five days. This week, CEO Marc Benioff stated at the he is seeking to cut costs by $3-$5B. as he seeks to restructure the business starting with a 10% workforce reduction and reducing their real estate footprint that spans 100 offices in 89 cities.

Shares of NVIDIA (NVDA), a pioneer in accelerated computing, closed at $148.59, +1.75% over the last 5-days. This week, NVIDIA and Hon Hai Technology Group (Foxconn), the world’s largest technology manufacturer, announced a strategic partnership to develop automated and autonomous vehicle platforms.

Cathie Wood’s ARK Innovation ETF (ARKK) closed at $31.37, +.64% over the last 5-days.  

The Technology Select Sector SPDR Fund (XLK) closed at $124.73, +.10% over the last 5-days. 

Shares of McDonald’s (MCD) closed at $269.47, +1.33% over the last 5-days. This week, McDonald’s stated on Friday that it will review corporate staffing levels and aim to build more restaurants as part of an updated business strategy.The new plan, announced in a letter from Chief Executive Officer Chris Kempczinski to global employees and seen by Reuters, calls for the Chicago-based company to cancel or “de-prioritize” some initiatives while also accelerating store development.

GOLD & SILVER

Gold prices closed at $1868/oz., +$.43/oz. & silver prices closed at $23.89/oz., -$.18/oz. for the week.

Hecla Mining (HL) closed at $5.92, +5.71% over the last 5-days & First Majestic (AG) closed at $8.94, +5.92% over the last 5-days. 


MEMES CENTRAL

AMC Entertainment (AMC) closed at $3.85, -7% & (APE) closed at $1.36, -7.48% over the last 5-days.  

GameStop (GME) closed at $16.46, -10.20% over the last 5-days as the shorts won again overall this week. 

Seanergy Maritime Holdings Corp. (SHIP) closed at $.5360, +5.10% over the last 5-days. On Dec. 9, Seanergy announced the filing of an amendment to its Schedule To and Offer to Purchase (the “Amendment”), both dated as of November 30, 2022, relating to the Company’s tender offer to purchase all outstanding Class E common stock purchase warrants (the “Warrants”) at a purchase price of $0.20 per Warrant, which tender offer will expire at the end of day, 5:00 P.M., Eastern Time, on January 10, 2023, unless extended or withdrawn. The Company has filed the Amendment on Schedule TO and the Amendment may be accessed from the Securities and Exchange Commission’s website at www.sec.gov.

On Nov. 30 after the close, SHIP announced its financial results for the third quarter and nine months ended September 30, 2022. The Company also declared a quarterly dividend of $0.025 per share for the third quarter of 2022.



CRYPTO & BITCOIN

Bitcoin (BTC) closed at $16,955.47, +1.65% over the last 5-days at the time this report was prepared. 

ENERGY

The Energy Select Sector SPDR Fund or ETF (XLE) closed at $87.56, +.74% over the last 5-days. Chevron (CVX) closed at $176.56, -.99% over the last 5-days. On Jan. 4, Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), closed its previously announced acquisition of full ownership of Beyond6, LLC and its nationwide network of compressed natural gas stations from Mercuria Energy Trading and Beyond6 founder Andrew West. Warren Buffet’s pick in the sector, Occidental Petroleum (OXY) closed at $63.75, +2.36% over the last 5-days.

Oil prices closed on Friday to end at $73.76/bbl and down 8.1% over the last 5-days.

NEXT WEEK



The markets will be up and running for 5 full trading sessions next week.

VP WATCHLIST UPDATES

Please review a select group of emerging names below and their updates below:

 
 
Shares of ADT Inc. (ADT), the most trusted brand in smart home and small business security, closed at $9.33, +1.30% over the last 5-days, after establishing a new 52-wk high at $10.10 recently. On Jan. 5, ADT (NYSE: ADT) introduced new innovations in safety for home, mobile and commercial applications at CES 2023 that showcase how the company connects and protects more people — virtually anywhere they go.
 
On Oct. 13, ADT, announced that it has issued and sold in a private placement to State Farm 133.3 million shares of ADT common stock for a gross purchase price of $1.2 billion. In September, ADT announced a new partnership with State Farm to revolutionize the homeownership experience through innovation in the detection and mitigation of property losses. In addition to the equity investment, State Farm has committed up to $300 million to fund product and technology innovation, customer growth and marketing activities in connection with the partnership. State Farm has funded the first $100 million and the two companies will collaborate to approve initiatives utilizing the funds.
 
 
  • Shares of Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need in oncology, with a current focus on breast cancer and radiation-induced lung injury, closed at $.7191, up +38.29% over the last 5-days. 
    • On Dec. 7, Atossa announced the appointment of Eric Van Zanten as Vice President of Investor and Public Relations. Mr. Van Zanten brings over 25 years of corporate communications experience working within the biopharmaceutical, finance, and healthcare industries. He will oversee corporate, executive, and digital communications, investor relations, thought leadership, and branding for the Company. Prior to joining Atossa, Mr. Van Zanten led corporate affairs at Faron Pharmaceuticals, a clinical stage biopharmaceutical company focused on tackling difficult-to-treat cancers via precision macrophage immunotherapy and Urogen Pharma, a commercial stage biotech delivering innovative solutions that treat specialty cancers. He was also formerly Head of Commercial and Medical Communications and Director of Oncology Communications at Bristol-Myers Squibb where he helped launch Opdivo, one of the most successful oncology brands ever. Earlier in his career he held communications leadership roles at Deloitte, Booz Allen & Hamilton, Children’s Hospital of Philadelphia and Unisys Corporation.“We are excited to welcome Eric to Atossa as we sharpen our focus on developing new therapies for cancer patients,” said Steven Quay, M.D., Ph.D., President and Chief Executive Officer of Atossa. “His extensive industry experience and oncology background make him particularly well-suited to help us share the Atossa story with investors, researchers, media, industry partners and other stakeholders.”
    • On Nov. 7, Atossa announced its financial results for the fiscal quarter ended September 30, 2022, and provided an update on recent company developments. Atossa is a clinical-stage biopharmaceutical company seeking to develop innovative medicines in areas of significant unmet medical need in oncology with a current focus on breast cancer and lung injury caused by cancer treatments. Key developments from Q3 2022 and to date included:

      • Received FDA authorization from FDA to initiate its Phase 2 study of neoadjuvant (Z)-endoxifen in premenopausal women with ER+/HER2- breast cancer.
      • Invested in a privately-held Dynamic Cell Therapies, a company focused on CAR-T therapies as an important step in pursuing its strategy to develop CAR-T therapies or adjacent opportunities within the immuno-oncology space.
      • Completed dosing in both Part B and Part C (of four parts) of Phase 1/2a Clinical Trial of AT-H201 in healthy volunteers, which the Company is now developing for patients with compromised lung function due to the damaging effects of cancer treatment.
    • On November 1, Atossa announced that it is investing in privately-held developer of CAR-T therapies, Dynamic Cell Therapies, Inc. (DCT), a venture capital backed company that is based in Boston, MA. DCT is in the pre-clinical phase of developing controllable CAR-T cells to address difficult-to-treat cancers. Its platform technology of dynamic control of engineered T-cells is designed to improve the safety, efficacy, and durability of CAR-T cell therapies. This system should find initial applications in hematological cancers, with future approaches in solid tumors and autoimmune diseases. The company’s platform technology uncouples tumor targeting from CAR-T cell activation. Each CAR-T cell recognizes an inert small molecule. This small molecule is conjugated to a tumor-specific antibody. By dosing a small molecule-antibody conjugate, the physician could dynamically control CAR-T cell activity and potentially minimize the risk of life-threatening side effects. Increasing the dose of the small molecule-antibody conjugate should strengthen the immune attack against tumor cells. In addition, the same small molecule can be coupled to different tumor targeting antibodies, allowing the physician to maximize on-target on-tumor efficacy and reduce off-tumor toxicities. To learn more, please visit www.dynamiccelltherapies.com. Steven Quay, M.D., Ph.D., Atossa’s CEO, Chairman and President stated, “This investment in DCT is an important step in pursuing our strategy to develop CAR-T therapies or adjacent opportunities within the immuno-oncology space. We believe that as an active investor in the development of DCT we will be well positioned to evaluate future opportunities while strategically managing our cash position.” Atossa will acquire shares equal to 19.99% of the outstanding capital stock of DCT as of today for a cash payment of $2 million (in addition to $3 million previously paid to DCT). The transaction is expected to close in the fourth quarter.
       
    • On October 25, Atossa announced that it has retained Richard Graydon, M.D., Ph.D. as interim chief medical officer. Dr. Graydon will devote all of his professional time to the Atossa clinical programs. Prior to joining Atossa, Dr. Graydon served as Senior Director of Clinical Development at Johnson and Johnson (JNJ) where he was responsible for leading compound development and clinical trial programs for Janssen Pharmaceuticals. At Janssen, he oversaw the early to late-stage development and the 2022 approval of BCMA-directed CAR T-Cell therapy (cilta-cel) for Multiple Myeloma, as well as daratumumab, imbruvica, siltuximab and other compounds for solid tumor and hematological malignancies. Previously, he held the role of Director of Clinical Development at Daiichi Sankyo, Inc., where he led the early and late-stage development of the small molecule targeted therapy quizartinib for FLT3-positive Acute Myeloid Leukemia. Additionally, he led the early-stage development of the MDM2 inhibitor milademetan in hematological malignancies and liposarcomas. Dr. Graydon spent time in clinical practice following completion of his specialty training in hematology and oncology at Harvard Massachusetts General Hospital. He earned his M.D. and Ph.D. at Stanford University, and undergraduate degree in Chemical Engineering at Cornell University. Dr. Graydon is the author of The Genetic Risks of Cancer: The Effects of DNA, Genomics and Inheritance on Aging and Survival.
    • On Oct. 24, Atossa announced that the U.S. Food and Drug Administration (FDA) has lifted the clinical hold and authorized initiation of its Phase 2 neoadjuvant clinical study of (Z)-endoxifen in premenopausal women with early-stage estrogen receptor positive (ER+) and human epidermal growth factor receptor 2 negative (HER2-) breast cancer. This is the first study of Atossa’s proprietary (Z)-endoxifen in the United States. At this time, Atossa also announced that it is discontinuing its COVID-19 program (AT-301) so that it can refocus resources on this critical study in breast cancer. “Continuing the development of our proprietary (Z)-endoxifen here in the United States has been a key goal which builds on the recent issuance of a U.S. patent for our proprietary (Z)-endoxifen and results from our Phase 2 “window-of-opportunity” study in Australia,” commented Steven Quay, M.D., Ph.D., Atossa’s CEO, Chairman and President. “We are excited to have engaged Dr. Matthew Goetz, the Erivan K. Haub Family Professor of Cancer Research Honoring Richard F. Emslander, M.D. at Mayo Clinic and Director of the Mayo Clinic Breast Cancer SPORE, as the lead principal investigator for this multi-center study. We look forward to opening the study in the fourth quarter.”

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  • The multi-billion-dollar global fertility market is predicted to reach approximately US$47.9 billion by 2030, yet remains severely underserved with many patients (upwards of 90% by many estimates) unable to access affordable treatment. INVO Bioscience, Inc. (NASDAQ: INVO) offers the INVOcell solution which provides an advanced, effective and affordable infertility treatment to help increase access to care. INVO is commercially advancing INVOcell through the opening of INVO Centers, opportunistically now pursuing acquisitions of established fertility (IVF) clinics in the U.S., and continuing to offer the technology to existing fertility practices.  Shares INVO closed at $.4995, +24.87% over the last 5-days.  The 52-wk range is $.3290 – $3.83.

On Jan. 5, INVO Bioscience announced it has entered an exclusive distribution agreement with Ming Mei Technology Co. Ltd (“Ming Mei”) for Taiwan. The agreement will have an initial 1-year term with renewals. Ming Mei is a leading distributor of fertility-based devices and components in Taiwan helping to bring the latest and most advanced medical equipment into the region. Ming Mei estimates it has approximately 90% coverage of reagents and consumables in the reproductive medicine market in Taiwan. With strong customer relationships in the region, and their familiarity with the field of reproductive medicine, Ming Mei is ideally suited to expand distribution of INVOcell in Taiwan. Taiwan is a destination for assisted reproductive technology (ART) throughout Asia and also has the lowest birthrate in the world. Taiwan’s birth rate has dropped as a result of similar trends elsewhere in Asia, such as later marriage and increasing cost of living. Further, the average age of patients requiring therapy is rising. Fortunately, according to the statistics published by “ICMART”, the overall implantation rate of therapy in Taiwan ranked second worldwide, almost equal to the level in the U.S., and a leading country in Asia. The stable high success rate derives from updated medical research and enriched clinical experience from the physicians, advanced laboratory facilities and technology as well as patient-centered customized treatment plans (depending on their age, ovarian functions and causes of infertility, etc.). Prior to the pandemic, in 2019 there were approximately 55,000 ART cases in Taiwan, an increase of approximately 55% compared to 2016. In July 2021, the government in Taiwan implemented a subsidy plan for ART with the goal of encouraging more local married couples to undergo ART treatments. The subsidies are also available to transnational couples in which one spouse holds a Taiwanese ID card.

On Jan. 3, INVO announced it has signed an agreement with Shelly W. Holmström, M.D. FACOG, to serve as the physician operator for the Company’s soon to be opened Tampa, Florida INVO Center.



    • On Nov. 30, INVO announced the birth of the first baby in Malaysia utilizing the INVOcell solution. The healthy baby boy weighed 3.53 kg and was born on November 11, 2022 at Tuanku Mizan Military Hospital in Kuala Lumpur. Physicians at Advanced Reproductive Centre (ARC), at Hospital Canselor Tuanku Muhriz (HCTM), at the National University of Malaysia conducted the IVC procedure. The patient was part of a prospective peer reviewed study of INVOcell compared to conventional IVF (“cIVF”) that took place at ARC at HCTM. The study, titled “Comparison of Treatment Outcomes among Sibling Oocytes Using Different Culture Systems—Conventional IVF versus INVOcell Device—And Evaluation of INVOcell User Satisfaction: The INVOcIVF Study,” was published in the International Journal of Environmental Research and Public Health. “We couldn’t be more pleased to have been a part of this family’s journey towards parenthood,” commented Steve Shum, CEO of INVO Bioscience. “The INVOcell solution is playing a key role in providing families across the world an alternative method to parenthood by leveraging its innovative medical device to allow fertilization and early embryo development to take place in vivo within the woman’s body; an approach that provides for affordable, high-quality, patient-centered fertility care.” Key findings of the study included:

      • The fertilization rate and good embryo quality were comparable (not significantly different) between INVOcell and cIVF.
      • Although both methods produce similar fertilization rates and good-quality embryos, the blastulation rates were better in the INVOcell group.
      • INVOcell can be used as an alternative method for reproductive treatment in carefully selected patients without jeopardizing outcomes.
      • cIVF is costly and not applicable in most rural and district areas, therefore, the INVOcell can be utilized as a cost-effective alternative to cIVF without sacrificing comfort and outcomes.
    • On Monday, November 14, INVO announced financial results for the third quarter ended September 30, 2022 and provided a business update. Revenue (excluding license revenue) was $235,321 compared to $40,303 in the third quarter of the prior year, an increase of 484% and up 61% sequentially compared to the second quarter of 2022. Clinic revenue increased to $176,395, or 370%, compared to the same period last year, and was up 57% sequentially compared to Q2 2022. All reported clinic revenue is derived from the Company’s Atlanta, Georgia-based INVO Center which is consolidated in the financial statements. Revenue from clinics, inclusive of both those accounted for as consolidated and under the equity method, was $450,131, an increase of 1,100% compared to last year and up 111% sequentially compared to the second quarter of 2022. Product sales increased to $58,926 during Q3 2022, an increase of 2,012% compared to the same quarter last year and were up 74% sequentially compared to the second quarter of 2022. INVO has completed due diligence on the previously announced fertility clinic acquisition target and is working to finalize definitive agreements..


    • On Nov. 10, Chinook provided a business update and reported financial results for the quarter and nine months ended September 30, 2022. “During the third quarter of 2022, we continued advancing our pipeline of clinical and preclinical programs for rare, severe chronic kidney diseases. We are pleased with the strong data presented at ASN Kidney Weekend 2022 from both our lead programs, atrasentan and BION-1301, in IgA nephropathy (IgAN), as well as from CHK-336 and our preclinical research approach,” said Eric Dobmeier, president and chief executive officer of Chinook Therapeutics. “We look forward to 2023, when we plan to initiate a phase 3 study of BION-1301 in patients with IgAN, present data from the ongoing phase 1 clinical trial of CHK-336 in healthy volunteers in the first half and report topline proteinuria data from the ongoing phase 3 ALIGN study of atrasentan in the third quarter.”



  • Borqs Technologies, Inc. (Nasdaq: BRQS, $.2670, +25.35% over the last 5-days), a global provider of 5G wireless solutions, Internet of Things (IoT) solutions, and innovative clean energy, recently provided the following updates on the Company.
  • On Dec. 19, Borqs announced the Company has received a letter dated December 13, 2022 (the “Letter”) from the Department of the Treasury on behalf of the Committee on Foreign Investment in the United States (“CFIUS”) stating that the Company is required to negotiate with CFIUS to fully divest its ownership interests and rights in Holu Hou Energy LLC (“HHE”) due to HHE solar energy storage system and EnergyShare technology for Multi-Dwelling Residential Units (“MDU’s”) being deemed a critical technology and therefore a potential national security risk. As stated in the Letter, HHE is considered a top ten solar energy storage supplier in Hawaii, has only been increasing its dominant market share, expects to grow at an exponential rate, and focuses on multi-family dwelling units which are common in military housing. Due to Borqs’ IoT software development and hardware sourcing capabilities in China, CFIUS is concerned that through Borqs, the PRC could gain significant visibility and exert influence over HHE’s business operations and get access to HHE critical technology. CFIUS is requiring the Company to design a plan to mitigate all identified national security risks to the satisfaction of CFIUS. Borqs intends to comply to the requirements from CFIUS and enter into a National Security Agreement with various departments of the U.S. Government with a plan that is effective, monitorable and verifiable to voluntarily divest Borqs’ investment interests and rights in HHE (the “Plan”). HHE’s commercialization of its solar energy storage system and novel EnergyShare technology for MDU’s has enabled the company to open up a new market segment for renewable energy in the USA – likely worth several billions of dollars. In the last year the Company’s MDU development pipeline has reached thousands of individual units in Hawaii alone, with California MDU potential being at least one to two orders of magnitude higher in the coming years. One segment of this new market is for communities of military and other government personnel. The overall MDU opportunity is significant for the company and significant for the USA. Since Borqs’ financial support in HHE starting from October 2021, HHE has signed approximately $50 million in contracts and has a growing pipeline approaching half a billion dollars. We believe this voluntary mitigation will enable the tremendous inherent value of HHE to be realized and that the divestment can be a profitable transaction for Borqs’ shareholders. The Plan to mitigate will include engaging a nationally recognized investment bank with experience in administering competitive sales and auction processes, assigning and hiring of security and monitoring personnel to directly communicate with CFIUS, immediate and complete removal of all Borqs administrative and technical influence over HHE, immediate voluntary reduction of Borqs ownership of HHE from a majority to a minority position and with the target of divesting all. The Company believes such points will enable the Company to accomplish the divestment in an orderly manner.

  • On Dec.8, Borqs announced its subsidiary, Holu Hou Energy (HHE), has received multiple purchase orders for its HoluPower xP solar energy storage systems for installation at homeowner locations in the Greater San Diego area in California. These orders represent the first for the Company in California. Whereas in Hawaii HHE works to develop and construct Single-Family Residential projects as an “end to end” provider, the Company will target the California homeowner market through already existing channel partners that will sell and construct the projects. For Multi-Dwelling Unit (MDU) Residential properties in the State, the Company will initially target apartment owners, REITs and other MDU stakeholders directly, then partner with existing licensed contractors for system construction. HHE has been focused on the Hawaii market since it began commercial shipments in 2020, in order to become successfully established in the largest market in the United States based upon solar installation penetration. Now it is turning to California, the largest market in terms of size of available opportunity. HHE recently completed the testing and documentation required for the HoluPower xP to be listed as an approved product by the California Energy Commission. The Company expects to be listed by early January 2023, after which permitting and installations can commence. In Hawaii, Holu Hou Energy has quickly become a leader for solar energy storage systems in the Single-Family Residential market, and has essentially created the previously untapped Multi-Dwelling Unit (“MDU”) Residential market for renewable energy by virtue of its “EnergyShare” technology. The same leading product attributes will benefit MDU property owners and homeowners in California. The potential available MDU market in California is believed to be in the billions of dollars. EnergyShare enables networked systems to share excess generation behind their respective utility meters, a game-changer for improving the project economics for the MDU market, including for low-income housing, rental property units and Home Owners Association managed condominiums and town homes. EnergyShare enables more energy to be delivered to load, and fewer batteries to be installed than the standard approach of a unit-by-unit installation.
  •  
  • On Dec. 8, Borqs announced its subsidiary, Holu Hou Energy (HHE), has received multiple purchase orders for its HoluPower xP solar energy storage systems for installation at homeowner locations in the Greater San Diego area in California. These orders represent the first for the Company in California. Whereas in Hawaii HHE works to develop and construct Single-Family Residential projects as an “end to end” provider, the Company will target the California homeowner market through already existing channel partners that will sell and construct the projects. For Multi-Dwelling Unit (MDU) Residential properties in the State, the Company will initially target apartment owners, REITs and other MDU stakeholders directly, then partner with existing licensed contractors for system construction. HHE has been focused on the Hawaii market since it began commercial shipments in 2020, in order to become successfully established in the largest market in the United States based upon solar installation penetration. Now it is turning to California, the largest market in terms of size of available opportunity. HHE recently completed the testing and documentation required for the HoluPower xP to be listed as an approved product by the California Energy Commission. The Company expects to be listed by early January 2023, after which permitting and installations can commence. In Hawaii, Holu Hou Energy has quickly become a leader for solar energy storage systems in the Single-Family Residential market, and has essentially created the previously untapped Multi-Dwelling Unit (“MDU”) Residential market for renewable energy by virtue of its “EnergyShare” technology. The same leading product attributes will benefit MDU property owners and homeowners in California. The potential available MDU market in California is believed to be in the billions of dollars. EnergyShare enables networked systems to share excess generation behind their respective utility meters, a game-changer for improving the project economics for the MDU market, including for low-income housing, rental property units and Home Owners Association managed condominiums and town homes. EnergyShare enables more energy to be delivered to load, and fewer batteries to be installed than the standard approach of a unit-by-unit installation.



Shares of InMed Pharmaceuticals Inc. (INM), a leader in the research, development and manufacturing of rare cannabinoids, closed at $1.64.

  • On Dec. 16, InMed confirmed that, at its annual general meeting of shareholders held on December 15, 2022 (the “Meeting”), all of the matters put forward before shareholders for consideration and approval as set out in InMed’s notice of meeting and management information circular, dated October 28, 2022, were approved by the shareholders. In particular, shareholders approved the election of all director nominees to hold office until the next annual meeting of shareholders or until their successors are elected or appointed. See results. 
  • On Dec. 12, InMed announced the Company has entered into a service contract with Brio Financial Group to provide senior financial leadership and bookkeeping services. Pursuant to the Contract, Mr. Jonathan Tegge, a member of Brio, will assume the role of Interim Chief Financial Officer for the Company effective December 12, 2022. Brio is a financial and management consulting group based in Bridgewater, New Jersey. The firm provides outsourced financial management and financial reporting support to small and middle market entities. Currently, the team provides consulting services to over 50 private and publicly traded companies. Additionally, the Company announces that its auditor, KPMG, has resigned effective as of December 8, 2022, and that the Audit Committee of the Board of Directors of the Company approved the engagement of Marcum LLP  as its auditor, subject to Marcum’s completion of their client acceptance procedures. Marcum will stand for appointment at the Company’s Annual General Meeting, currently scheduled for Thursday, December 15, 2022. KPMG has confirmed that there are no reportable events (as such term is defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”)).





Thanks again for your attention this week. Please continue to share your thoughts, questions, & ideas as we move forward. 

In the meantime, please enjoy the balance of the weekly newsletter’s videos, quotes, updates and let’s find ways to crush it again this year!

Investing & Inspiration

  1. “There is little that can withstand a man who can conquer himself.” – Louis XIV
  2. “The limits of the possible can only be defined by going beyond them into the impossible.” – Arthur C. Clarke
  3. “Be faithful in small things because it is in them that your strength lies.” – Mother Teresa
  4. “The future rewards those who press on. I don’t have time to feel sorry for myself. I don’t have time to complain. I’m going to press on.” – Barack Obama
  5. “By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest.” – Confucius
  6. “No man was ever wise by chance.” – Lucius Annaeus Seneca
  7. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
  8. “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare
  9. “It does not matter how slowly you go as long as you do not stop.” – Confucius

  10. “I want to put a ding in the universe.” – Steve Jobs

  11. “Research is creating new knowledge.” – Neil Armstrong

  12. “The reward for work well done is the opportunity to do more.” – Jonas Salk
  13. “Man is a creative retrospection of nature upon itself.” – Karl Wilhelm Friedrich Schlegel
  14. “There’s something about taking a plow and breaking new ground. It gives you energy.” – Ken Kesey
  15. “Success seems to be largely a matter of hanging on after others have let go.” – William Feather

  16. “The essential conditions of everything you do must be choice, love, passion.” – Nadia Boulanger
  17. “More business is lost every year through neglect than through any other cause.” – Rose Kennedy

  18. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes

  19. “A person who won’t read has no advantage over one who can’t read.” – Mark Twain
  20. “The best way out is always through.” – Robert Frost

  21. “Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.” – Francis of Assisi
  22. “Without labor nothing prospers.” – Sophocles

  23. “Intellectuals solve problems, geniuses prevent them.” – Albert Einstein
  24. “This is the precept by which I have lived: Prepare for the worst; expect the best; and take what comes.” – Hannah Arendt

  25. “The best and most beautiful things in the world cannot be seen or even touched – they must be felt with the heart.” – Helen Keller

  26. “He who is brave is free.” – Lucius Annaeus Seneca
  27. “When something is important enough, you do it even if the odds are not in your favor.” – Elon Musk

  28. “I choose a block of marble and chop off whatever I don’t need.” – Auguste Rodin

  29. “Hope is the only bee that makes honey without flowers.” – Robert Green Ingersoll

  30. “He who knows that enough is enough will always have enough.” – Lao Tzu

  31. “Plans to protect air and water, wilderness and wildlife are in fact plans to protect man.” – Stewart Udall
  32. “In order to carry a positive action we must develop here a positive vision.” – Dalai Lama

  33. “A hero is someone who understands the responsibility that comes with his freedom.” – Bob Dylan
  34. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
  35. “If we give something positive to others, it will return to us. If we give negative, that negativity will be returned.” – Allu Arjun
  36. “A good plan violently executed now is better than a perfect plan executed next week.” ~ George S. Patton
  37. “You must do the things you think you cannot do.”- Eleanor Roosevelt
  38. “Success is dependent on effort.” – Sophocles
  39. “Nobody who ever gave his best regretted it.” – George Halas
  40. “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
  41. “And when I breathed, my breath was lightning.” – Black Elk
  42. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
  43. “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
  44. “If you want a guarantee, buy a toaster.” – Clint Eastwood
  45. “We are an impossibility in an impossible universe.” – Ray Bradbury
  46. “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
  47. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
  48. Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
  49. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
  50. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
  51. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
  52. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
  53. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
  54. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
  55. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
  56. “There is more to life than increasing its speed.” – Mahatma Gandhi
  57. “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
  58. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
  59. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
  60. “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
  61. “Life is too short for long-term grudges.” – Elon Musk
  62. There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
  63. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
  64. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
  65. “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
  66. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
  67. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
  68. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
  69. “Let there be work, bread, water and salt for all.” – Nelson Mandela
  70. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
  71. “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
  72. “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
  73. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
  74. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
  75. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
  76. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
  77. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
  78. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
  79. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
  80. “Delete the negative; accentuate the positive!” – Donna Karan
  81. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
  82. “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
  83. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
  84. “Everything has beauty, but not everyone sees it.” – Confucius
  85. 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
  86. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
  87. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
  88. “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
  89. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
  90. “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
  91. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
  92. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
  93. “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
  94. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
  95. “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
  96. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
  97. “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
  98. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
  99. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
  100. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
  101. “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
  102. “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
  103. “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
  104. “There is little that can withstand a man who can conquer himself.” – Louis XIV
  105. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
  106. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
  107. “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
  108. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
  109. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
  110. “Never do anything against conscience even if the state demands it.”– Albert Einstein
  111. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
  112. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
  113. “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
  114. “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
  115. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
  116. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
  117. “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
  118. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
  119. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
  120. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
  121. “The secret of getting ahead is getting started.” – Mark Twain
  122. “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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