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BlockFi Poised to Build on Momentum Following Blockbuster 2021

  • Bitcoin prices rose to an all-time high of $69K in 2021, spurring a tide of consumer interest in the cryptocurrency market
  • BlockFi capitalized on this demand through the release of the first-ever crypto rewards credit card, signing up 75,000 clients in 2021
  • Improvements to its trading experience helped BlockFi expand its overall client base from 100,000 to 600,000 over the past 12 months
BlockFi, a financial services company dedicated to building a bridge between cryptocurrencies and traditional financial and wealth management products, recently released a letter from its founders providing an introspective on the company’s 2021 milestones and highlighting the crypto market’s continuous path of growth. Followers of crypto were treated to a wild ride in 2021. Bitcoin started the year under $30K before skyrocketing to an all-time high of $69K. The flagship of the cryptocurrency market ended the year around $47K, but this fluctuation has done little to quell the rising tide of interest in the evolving space. Flori Marquez, Co-Founder of BlockFi, noted in a mid-December interview with Yahoo! Finance that her firm has “seen huge moves in terms of American consumers being interested in [crypto].” In highlighting this growth in mainstream demand, she added:
  • 1 in 10 people planned to gift crypto during 2021
  • About 2/3 of Americans prefer to talk about crypto – five years ago, only 1% of people had ever traded crypto and 50% of Americans had never heard of crypto
Marquez went on to assert that crypto has become “more digestible” for the average consumer over the past five years, claiming that sustained upward price action and improved regulatory clarity will help foment a FOMO attitude toward crypto adoption in 2022. This outlook is promising for BlockFi. In 2021, the financial services pioneer grew its client base from 100,000 to over 600,000, introducing a number of exciting solutions along the way, including:
  • The first-ever crypto rewards credit card, which has already paid out over $15 million in rewards to over 75,000 clients
  • An improved trading experience featuring five new asset classes and instant ACH trading
  • BlockFi Prime, an integrated platform where institutional investors can easily access, trade and borrow digital assets
“We are very excited to see that we’ve hit 75,000 people using the Bitcoin rewards credit card,” Marquez said in the December interview. “That’s absolutely huge, because most fintech companies look to see about 10,000 credit cards in their first year. So, the fact that we’re at 75K just really shows that Americans are banging down the door to earn different types of awards.” Looking ahead, BlockFi has announced plans to add trading capabilities for additional assets to its platform as it continues to find innovative ways to give its clients simple access to the returns available in the evolving crypto space. As Founders Flori Marquez & Zac Prince declared in a year-end summary, BlockFi is “heading into this year stronger than ever.” For more information, visit the company’s website at www.BlockFi.com

StraightUp Resources Inc. (CSE: ST) (OTCQB: STUPF) Welcomes Addition to Leadership Team Amid Mining Option Advances for 2022

  • StraightUp has hired experienced commodities entrepreneur and economic geologist Rod Husband as its new CEO as it enters 2022 in an expansionist phase
  • Mineral property exploration company StraightUp Resources is building excitement for several properties it has optioned in the gold-producing region of Ontario’s famed Red Lake Mining District
  • StraightUp also acquired a mine in the historic Bullfrog Boom area surrounding Beatty, Nevada during recent months
  • The company recently added a listing on the OTCQB Venture Market and eligibility for electronic clearing and settlement of its transactions through the Depository Trust Company
  • The company has completed heliborne investigations at three of its five Ontario sites, and has confirmed multiple areas of high merit and potential mineralization on one that has previously been unexplored
Going into 2022, precious metals explorer StraightUp Resources (CSE: ST) (OTCQB: STUPF) is welcoming the leadership of new CEO Rod Husband, an accomplished entrepreneur and economic geologist with over 30 years of experience in the international commodity and finance sectors. StraightUp executive Mark Brezer will focus on his duties as president and director during a period of company growth and expansion into international markets. “This appointment strengthens management and brings a new layer of expertise to the team,” the company’s Dec. 16 announcement states (https://ibn.fm/ExibB). StraightUp Resources built its exploration and acquisition opportunities during 2021 by expanding on property options located in the gold-prolific greenbelt zones of Ontario’s Red Lake Mining district to add ownership of the West Cat gold and silver mine in the historically productive Bullfrog Boom district surrounding Beatty, Nevada in the United States. The company also announced the potential acquisition of the Mallay silver mine and processing plant in the Lima region, Peru through a right of exclusivity agreement (“ROE”) for all outstanding shares in Premier Silver Corp. that was set to expire at the end of December if not fulfilled. StraightUp’s pursuit of worthwhile economic, precious and base metal properties in North and South America has been most concentrated on the five Ontario projects that together comprise more than 21,087 hectares (52,107 acres). High-resolution heli-borne magnetic surveys (“MAGs”) were completed on three of them — Ferdinand, RLX North and RLX South, which together make up all but about 17,000 hectares of the exploration area. The company has advanced ground investigation in the Ferdinand project, which has confirmed several areas of potential mineralization the company is interested in. “This study represents a transformation of the Ferdinand Gold Project and we couldn’t be more excited about the road ahead in this unexplored and unappreciated section of the infamous Uchi subprovince,” Brezer stated when the results were announced in late November (https://ibn.fm/RvJhq). “We now have confirmation of D2 folding and ultramafic rocks, together considered to be a primary control for high-grade gold mineralization in this region, especially the Great Bear Resources Dixie Lake Gold Project,” he added. Great Bear Resources’ Dixie Lake project is a neighbor immediately to the west of the Ferdinand Gold Project, and made news in early December when mining company Kinross Gold Corporation announced an acquisition bid for Great Bear at a price of about $1.45 billion despite the lack of a maiden resource estimate by the company — an apparent indication Kinross thinks it could be a top-tier deposit area (https://ibn.fm/SRQ6q). The Ferdinand project has not yet had a registered drill hole because access is limited to logging roads, but forestry logging operations are expected to expand on the property and the property is only 13 km northwest of the town of Slate Falls and larger roadways. Its unexplored status within one of the best metal-endowed greenstone belts in the world makes it a particularly exciting prospect for the coming year. For more information, visit the company’s website at www.StraightUpResources.com. NOTE TO INVESTORS: The latest news and updates relating to STUPF are available in the company’s newsroom at https://ibn.fm/STUPF

Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) CEO Participation in Upcoming Events Recognizes Company Expertise

  • CEO to participate in panel discussion, fireside chat focusing on psychedelics
  • The company is engineering next-generation psychedelic molecules as it works to transform the mental health treatment landscape
  • CYBN is implementing a three-pillar strategy
Cybin (NEO: CYBN) (NYSE American: CYBN), a biopharmaceutical company focused on progressing psychedelics to therapeutics, is gaining recognition as a leader in the psychedelic space. Evidence of this can be seen in the Cybin CEO’s upcoming participation in two virtual investor conferences (https://ibn.fm/1zAF4). The company announced that CEO Doug Drysdale has been invited to participate in a panel discussion titled “Psychedelics: More Than Just a Trip” during the 11th annual LifeSci Partners Corporate Access Event. The two-day event is slated for Jan. 5–7, 2022, with the panel discussion scheduled for Wednesday, Jan. 5, at 10 a.m. EST. (Click here to register and access the webcast.) In addition, Drysdale will participate in a fireside chat during the virtual three-day H.C. Wainwright Bioconnect Conference. Drysdale’s fireside chat will be available on demand beginning Jan. 10, 2022, at 7 a.m. EST. (Click here to register and access the webcast.) Drysdale’s expertise in the psychedelics field is being recognized as Cybin continues to establish itself as a leading ethical biopharmaceutical company. The company is engineering next-generation psychedelic molecules as it works to transform the mental health treatment landscape. To accomplish this lofty vision, Cybin is following a three-pillar strategy based on the following: novel drug-discovery platform (API modification), proprietary drug-delivery systems (R&D) and innovative treatment regimens (https://ibn.fm/vMkCy). Cybin is developing new APIs through selective modifications of tryptamine and phenethylamine-based scaffolds specifically to alter their pharmacokinetics without modifying their therapeutic potential. These modifications involve replacing selective hydrogens with deuterium atoms. The company’s R&D, categorized under the proprietary drug-delivery systems, involves the development of an efficient delivery system that attempts to bypass liver metabolism with a direct path to the brain, thereby providing faster onset. The company is also looking to identify modified-release formulations with the potential to reduce side effects and control exposure, as well as providing dose control through its proprietary device platform. Cybin’s treatment regimen is where science meets technology. Its exclusive EMBARK is a best-practices psychotherapy program designed to provide consistent therapist training and consistent psychotherapy delivery in clinical trials. Cybin is a leading ethical biopharmaceutical company and is working with a network of world-class partners and internationally recognized scientists to create safe and effective therapeutics for patients to address a multitude of mental health issues. The company operates in the United States, the United Kingdom and Ireland. The company is focused on progressing Psychedelics to Therapeutics by engineering proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for mental health disorders. For more information, visit the company’s website at www.Cybin.com. NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN

Lexaria Bioscience Corp. (NASDAQ: LEXX) Receives Independent Review Board Approval for Its Most Ambitious, Comprehensive Human Study Yet

  • Lexaria has received approval from the Independent Review Board for its DehydraTECH-CBD Human Clinical HYPER-H21-4 study
  • The approval signals the company has taken the appropriate steps to protect the rights and welfare of human subjects participating in its fourth human study
  • HYPER-H21-4 should “de-risk” outcomes prior to Lexaria’s planned entry into regulatory pathways for the use of DehydraTECH-CBD to treat hypertension and perhaps other forms of cardiovascular disease
  • Previous studies – HYPER-H21-1 and HYPER-H21-2 – have evidenced a remarkable, rapid, and safe drop in blood pressure with DehydraTECH-CBD
A little less than two months after Lexaria Bioscience (NASDAQ: LEXX) announced it was readying the study protocols for HYPER-H21-4, its most ambitious and comprehensive study yet, for submission to the Independent Review Board (“IRB”) with approval anticipated by January 2022 (https://ibn.fm/DASCc), the company is celebrating the receipt of the approval ahead of schedule. An administrative body created to safeguard the rights and welfare of human subjects recruited to participate in research activities, the IRB is tasked with approving, disapproving, monitoring, and requiring modifications to studies and their respective protocols (https://ibn.fm/IVBB0). The IRB approval signals Lexaria has taken the appropriate steps to protect the rights and welfare of human subjects participating in its HYPER-H21-4 study, Lexaria’s fourth human clinical study evaluating DehydraTECH-CBD as a potential treatment for hypertension and perhaps other forms of cardiovascular disease.  In total, the study is expected to comprise 60 volunteers aged between 45 and 70 years (https://ibn.fm/Y9p0I). As part of the research, which will utilize a double-blinded, randomized cross-over design, and placebo control, a subset of the volunteers will already be using the leading standard of care hypertension drugs such as ACE inhibitors with or without diuretics. The rest will use three 150 mg doses of DehydraTECH-CBD daily for six weeks, the duration of the study. Dosing is tentatively set to begin by April 2022. Results from study HYPER-H21-4 are expected to add to Lexaria’s growing body of evidence for the effectiveness of DehydraTECH-CBD against hypertension.  In addition, it will explore the potential for longer term health benefits that might otherwise remain undetected, with the 6-week duration of the study enabling the company to gather critical data monitoring of DehydraTECH-CBD over time. HYPER-H21-4 will involve multiple types of analysis, including 24-hour ambulatory blood pressure (the primary outcome); arterial stiffness and autonomic balance; brain structure and function through brain MRI; blood markers; renal, hepatic, sleep quality/daytime sleepiness/sleep disorders; actigraphy, geriatric depression scale, perceived stress, and back anxiety inventory. The enormous volumes of data from the study, if positive, should support the company’s plans to enter regulatory pathways expected to eventually result in regulatory approval to use DehydraTECH-CBD as a treatment for hypertension and possibly other types of cardiovascular disease. Already, Lexaria’s previous human studies, HYPER-H21-1 and HYPER-H21-2, have evidenced a remarkably rapid, and safe drop in blood pressure with DehydraTECH-CBD. Furthermore, according to an announcement issued last month, the HYPER-H21-3, also regarded as a ‘stress test’ study, was conducted to examine DehydraTECH-CBD’s effects on pulmonary vascular function in normotensive individuals exposed to hypoxia (oxygen tension). This third study will fill a knowledge gap that existed as regards the extent to which CBD may act as a novel treatment for hypoxic pulmonary vasoconstriction (“HPV”) and as a potential alternative treatment for pulmonary hypertension. Currently valued at an estimated $28 billion, the antihypertensive drug market is expected to continue growing (https://ibn.fm/W39lb). However, with less than 25% of persons with hypertension having successfully controlled their condition using medication, Lexaria notes the potential market for hypertension drugs would be much greater than the estimated figure if an affordable drug with few or no side effects were available. “Lexaria believes that its DehydraTECH-CBD may introduce a more tolerable antihypertensive treatment option that may be used alone or in combination with other medications, to reduce BP with fewer discouraging and unwanted side effects,” reads the December 29 news release reporting the receipt of the IRB approval. A global leader in enhancing the speed and efficiency of orally-delivered fat-soluble active molecules and drugs, Lexaria has developed DehydraTECH, a patented technology that improves the bioavailability of pharmaceuticals and therapeutics. The technology combines active pharmaceutical ingredients (“API”), such as cannabidiol (“CBD”), with the product achieving fast onset, increased bioavailability, and improved effectiveness, according to subjective and objective clinical testing. For more information, visit the company’s website at www.LexariaBioscience.com. NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://ibn.fm/LEXX

GreenBox POS (NASDAQ: GBOX) Is ‘One to Watch’

  • GreenBox POS reported $8 million in revenue for Q3 2021 on $540 million processed transaction volume
  • GreenBox’s guidance for FY2022 forecasts processing volume of at least $4.9 billion
  • The company’s planned spinoff of its coyni smart contract token technology is expected to accelerate revenue growth
  • GreenBox shareholders will have an opportunity to benefit from dividends in the coyni spin off IPO
  • The company’s Board of Directors recently approved a share buy-back program
GreenBox POS (NASDAQ: GBOX) is an emerging financial technology company leveraging proprietary security and token technology to build customized payment solutions for business. The company’s mission is to build compliant, cutting-edge blockchain ledger tokenized solutions for the diverse, evolving and dynamic global market. GreenBox applications enable an end-to-end suite of turnkey financial products which offer improved fraud detection and better handling efficiency of large-scale commercial payment processing volumes for its merchant clients globally. The company’s proprietary blockchain and smart contract token technologies create seamless payment processing using digital encryption keys. GreenBox is a unified platform providing scalability for businesses to accept payments, transact, send, settle and convert in a single versatile ecosystem. GreenBox operates a private and proprietary blockchain-based payment platform that offers distinct advantages when compared to traditional payment technologies, including greater security and data privacy, as well as enhanced identity theft protection and quick settlement. As the settlement engine for financial transactions, GreenBox’s blockchain technology is a distributed ledger that uses digitally encrypted keys to verify, secure and record details of each transaction conducted within GreenBox’s private ecosystem. The speed and security of the platform allows GreenBox to log immense volumes of immutable transactional records in real time for Tier-1 partners around the world. In November 2021, GreenBox announced the closing of a previously announced $100 million convertible note financing. The company plans to use proceeds for acquisitions, a planned stablecoin spin-off, and additional working capital toward the company’s future growth. The initial conversion price equals a more than 80 percent premium to the market price of the company’s common stock on October 29, 2021, and values the enterprise at more than $700 million upon conversion. Brands & Solutions The company offers multiple solutions and brands under the GreenBox label. The other brands that are nested under the GreenBox POS label include coyni, ChargeSavvy, QuickCard, Transact Europe [didn’t yet close] and Northeast Merchant Systems. Each of these brands play a large role in allowing GreenBox to accel in customizing payment solutions across different verticals and industries. Payment Solutions The GreenBox platform offers blockchain secure, robust payment processing solutions for both individual consumers and businesses. The company combines the power and security of blockchain with bank-level tools necessary to both settle transactions and monitor cash flows. Customers can transfer cryptocurrencies like USDC, Ethereum or Bitcoin from external decentralized crypto wallets to their GreenBox wallets. They can also exchange those tokens from their GreenBox wallets to any supported coin. Customers can easily offload in USDC to a debit card or a multitude of gift cards. White Label Solutions The company’s white label platform allows it to partner with firms seeking blockchain-based tools to manage merchant relationships. White label partners can monitor cash flows, as well as run reports on merchant transactions, chargebacks, agent and affiliate commissions and more. Partners can access the platform through their partner portal to manage business relationships with full visibility. The platform’s cutting-edge technology saves partners time and simplifies their payment processing. It ensures compliance with automated Know Your Customer and Know Your Bank services and allows customers to set up automated payouts. coyni Stablecoin The company is planning soon to launch its own stablecoin, coyni (CYN). coyni is equivalent to the value of the U.S. dollar on a one-to-one ratio. Stablecoin allows for instantaneous transactions with blockchain security just like other cryptocurrency tokens, but without the price volatility of traditional cryptocurrencies. The CYN token is expected to make possible features like high yield accounts, digital dollar accounts, cross border payments, international payment processing and other payment solutions. As a smart contract technology, coyni will offer instant settlement using the GreenBox blockchain ledger in any location and currency – crypto or fiat – all at lower fees and in a tokenized secure ecosystem. Market Overview A Mordor Intelligence report put the transaction value of the global digital payments market at $5.44 trillion in 2020 and projects the market to be worth $11.29 trillion by 2026. That represents a CAGR of 11.21 percent during the period of 2021-2026. The report notes that the global COVID-19 pandemic and its impact on e-commerce is likely to encourage strengthened international cooperation and further development of policies for online purchasing and supply. The report states, “The pandemic has made it clear that e-commerce can be an important tool/solution, especially considering the fact that e-commerce sales can support small and medium businesses that form the backbone for certain economies. This is expected to substantially spur the growth of digital payment methods across various economies.” According to Mordor, other drivers of the growth trend in digital payments include:
  • Greater convenience, favorable government policies and evolving consumer behavior worldwide
  • Rapid rise in smartphone penetration throughout emerging economies
  • Introduction of mobile wallets across the world
  • Widespread adoption of retail digital payment services across the vast population of China, serving as a kind of test case for other countries
Management Team Ben Errez, Chairman of the Board of Directors Ben Errez’s past positions have included positions at large companies like Microsoft and Intel. He has brought this expertise to lead GreenBox into the forefront of the blockchain-based financial software, services, and hardware market. Mr. Errez was one of the early managers of Microsoft in 1991. From 1991 to 2004, he served as Software Development Lead for the Microsoft International Office Group. He led the International Microsoft Office Components team (Word, Excel, PowerPoint) in design, engineering, development, and successful deployment. He also served as Executive Representative of Microsoft Office and was a founding member of the Microsoft Trustworthy Computing Team both within the company and internationally. Mr. Errez co-authored the first Microsoft Trustworthy Computing Paper on Reliability. At Microsoft, he was responsible for the development of the first Microsoft software translation Software Development Kit (“SDK”) in Hebrew, Arabic, Thai, and Simplified Chinese, as well as the development of the first bidirectional extensions to Rich Text Format (“RTF”) file format and all bidirectional extensions in text converters for Microsoft Office. He also contributed to the development of the international extensions to the Unicode standard to include bidirectional requirements under the World Wide Web Consortium (“W3C”). In 2004, Mr. Errez transitioned into the world of consulting, where he held the position of Principal Consultant from founding to the present date, through which he advises clients in the South Pacific region with market capitalizations ranging from $50 million to $150 million on commerce, security, reliability, and privacy. In 2017, immediately before partnering with Fredi Nisan to launch GreenBox, Mr. Errez was asked to take over the Microsoft Alumni Network for the Southern California region as a regional director. Mr. Errez has been a principal of GreenBox since its inception in 2017. Fredi Nisan, Chief Executive Officer Fredi Nisan’s career in technology began during his years of service in the Israeli Defense Forces, where he served as IT Manager for all of Israel’s Northern Bases. After serving in the military, Mr. Nisan opened and operated a computer hardware store before becoming the Inventory Operations Manager for Zicon Israel in 2005, a hardware and software producer. At Zicon, he supervised inventory operations, worked on quality controls for motherboards and chips, and educated customers on software and hardware product functionality. Subsequently, Mr. Nisan moved to the United States, where he worked for One Coach in San Diego, California, as a business coach. One Coach specializes in customized growth solutions for small business owners, including the latest strategies for sales, internet marketing, branding, and ROI. Mr. Nisan was consistently ranked as the top salesperson for small business coaching while working with One Coach. In 2010, Mr. Nisan launched Brava POS, where he served as President until 2015. Brava POS provided point of sale (“POS”) systems for specialty retail companies. Mr. Nisan developed software to provide clients with solutions for issues ranging from inventory management to payroll to processing high volume transactions in the form of a cloud-based POS system. This system had the capability to manage multiple stores with centralized inventory and process sales without an internet connection, and offered a secure login for each employee, as well as including advanced inventory management and reporting, plus powerful functionality for its end users. In 2016, Mr. Nisan founded Firmness, LLC. Through Firmness, he created “QuickCitizen,” a software program that simplifies the onboarding process for new clients of law firms specializing in immigration issues. The QuickCitizen software significantly reduced law firms onboarding processing time from more than three hours to approximately 15 minutes. Mr. Nisan has been a principal of GreenBox since its August 2017 inception. In January 2018, Firmness sold QuickCitizen to GreenBox. Jacquline B. Reynolds, Chief Marketing Officer Jacqueline B. Reynolds is the company’s Chief Marketing Officer. She served most recently as vice president of marketing for Sprouts Farmers Market. She has built her reputation as a world-class global marketer, working with Coca-Cola, McDonald’s, Verizon, Walmart, L’Oréal, Xbox, 7-Eleven and many other Fortune 500 brands. She has managed award-winning marketing programs with partners such as the NFL, Super Bowl LIV, the Olympics, the FIFA World Cup, Sony Pictures, Universal Music and others. For more information, visit the company’s website at www.GreenBoxPOS.com. NOTE TO INVESTORS: The latest news and updates relating to GBOX are available in the company’s newsroom at https://ibn.fm/GBOX

Flora Growth Corp. (NASDAQ: FLGC), a 2021 Year Review

  • 2021 marked the year when Flora Growth held its IPO – the company’s common shares commenced trading on the Nasdaq Capital Market in May under the ticker symbol “FLGC”
  • It also marked the year when the company ventured into the European market, as well as other key regions such as Mexico
  • Significant acquisitions for the 2021 calendar year included Koch & Gsell, Vessel Brand Inc., and GMP-Certified Laboratory
  • Flora Growth also made notable appointments to its executive leadership as well as its board of directors
Flora Growth (NASDAQ: FLGC) had an impressive year in 2021, highlighted by the company’s Initial Public Offering (“IPO”) in May, the addition of strategic team members and new products, and further expansion into global markets. Following the IPO, Flora Growth first ventured into the United Kingdom (“UK”) and Central American markets, marking the inaugural shipment of the company’s Mambe, Mind Naturals, and Almost Virgin Brands. Additionally, the company signed a distribution agreement with GMD Latinoamérica, a distributor based in Costa Rica that focuses on the Central American food and beverage market (https://ibn.fm/WCK5q). Flora Growth then expanded into the European Union (“EU”) after closing a €2 million investment in Hoshi International Inc., a fully integrated cannabis company (https://ibn.fm/SEapG). This led to the formation of a manufacturing division for cannabis products, Flora Lab, with a capacity to produce over 190 products. This division played an integral role in boosting Flora Growth’s 1,500+ distribution channels while also developing new cannabinoid and non-cannabinoid products to market. This move, furthermore, allowed for a 6% growth in the company’s share prices in May 2021 (https://ibn.fm/08hqc). The company also saw additions to its top-level management, with the appointment of Jason Warnock as the company’s Chief Revenue Officer (“CRO”) and Lee Leiderman as the Chief Financial Officer (“CFO”) (https://ibn.fm/4EHNx). Additionally, the company hired Dr. Annabelle Manalo-Morgan as its Lead Scientific Advisor and later as a member of its board of directors (https://ibn.fm/6RV95). Flora Growth marked some significant acquisitions for the 2021 financial year, with the main ones including Koch & Gsell, Vessel Brand Inc., and a GMP-Certified Laboratory. These acquisitions have been integral to its product diversification and to the overall expansion of its market reach. By the close of 2021, Flora Growth had added Mexico and Spain to the markets it operates in, marking an aggressive year-long market expansion campaign meant to create value for its shareholders. As it focuses on expanding globally and sustaining one of the largest outdoor cultivation facilities in the world, the company will benefit from the foundation laid down throughout the 2021 calendar year. With its strategic partnerships, acquisitions, and relationships with key players within specific global markets, Flora Growth is set to achieve increased sales and a growing market share for the 2022 calendar year, ultimately asserting its position as a leader in the global CBD sector. For more information, visit the company’s website at www.FloraGrowth.com. NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC

Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) (FSE: ONFA) Signs LOI with Maya to Co-Develop a Prescription Digital Therapeutics Platform Targeting a Trifecta Approach to Patient Care

  • Mydecine has signed a letter of intent with Maya detailing a collaborative partnership to develop a novel digital therapeutics (“DTx”) platform
  • The DTx platform is expected to create a three-pronged approach to patient care by combining Mydecine’s Mindleap digital health platform with its medication-based treatments
  • According to COO Damon Michaels, the new platform will provide improved adherence to treatment protocols, patient experience, biometric insights, and post-approval insurance reimbursements
  • Both companies intend to pursue rigorous studies to achieve FDA clearance
Regarded as the convergence of health care and software that has resulted in a new crop of life sciences technology helping to transmute patient care and deliver improved clinical results, digital therapeutics (DTx) holds much promise. For one, it could potentially address unmet patient needs that conventional therapies and treatments have failed to resolve. With growing evidence indicating that DTx can decrease health care costs, personalize care, and bring about better outcomes (https://ibn.fm/3F3UB), Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: ONFA), a biotechnology and digital technology company aiming to transform the treatment of mental health and addiction disorders, is positioning itself to play a key role in this segment. Recently, the company signed a letter of intent (“LOI”) with Maya (https://ibn.fm/mI177). Under the terms of the LOI, both companies intend to collaborate to develop a novel DTx platform. Combined with Mindleap Health – Mydecine’s existing digital health platform that offers technology solutions such as telemedicine services and exclusive digital content to allow patients to improve their mental health, the DTx platform is expected to create a three-pronged approach to patient care. Once complete, for instance, physicians could prescribe the new digital therapeutic as a standalone option or in concert with Mydecine’s drug and therapy protocols. “The technology integration of the two software platforms is aimed at enhancing Mindleap’s medical capabilities to more quickly and efficiently develop a personalized prescription-based digital therapeutic that will not only complement Mydecine’s smoking cessation treatment [MYCO-001] but eventually for all primary and ancillary indications the company is targeting,” commented Damon Michaels, Mydecine Co-Founder, Director, and COO. “The new platform will provide improved adherence to treatment protocols, patient experience, biometric insights, and post-approval insurance reimbursements.” The new DTx platform, Mydecine says, aims to improve Mindleap by collecting and computing unique data to create more personalized treatments. The company believes it will enhance the efficacy of current treatment options by not only personalizing them to individual patients but also increasing their availability. “Maya’s clinically validated surveys, biometric tracking, and protocol customization combined with Mindleap’s telemedicine, exclusive digital content, and community features will allow both companies to accelerate the development and commercialization of a novel DTx platform,” said Mydecine in a recent news release. Maya and Mydecine intend to pursue rigorous studies to achieve FDA Section 510(k) clearance – integral to the platform’s registration – upon software integration and a comprehensive regulatory assessment. According to the company, the collaborative partnership will not affect or alter its existing programs, including the current smoking cessation clinical trial and Mindleap’s current consumer-facing offerings. A Deloitte article on DTx notes that companies that can take full advantage of emerging life sciences technology to address unmet patient needs, “in combination with faster product development timelines, could gain a significant advantage over traditional life sciences companies” (https://ibn.fm/TnnZ8). In this regard, Mydecine, which is leveraging the collaborative partnership with Maya to more quickly and efficiently develop a DTx platform, is ideally poised to gain a significant advantage in a market expected to grow at a 26.1% CAGR between 2021 and 2025, according to a report by The Business Research Company (https://ibn.fm/gsWLT). Maya is a platform that leverages real-world data and research to empower psychedelic practitioners with the ability to improve health outcomes and comprehensively map care journeys for safe psychedelic practices, reduced care cost, and increased IP equity. For more information, visit the company’s website at www.Mydecine.com. NOTE TO INVESTORS: The latest news and updates relating to MYCOF are available in the company’s newsroom at https://ibn.fm/MYCOF

Mullen Automotive Inc. (NASDAQ: MULN) Receives Rave Reviews Following Debut at LA Auto Show; Mullen FIVE RS Aims to Be World’s Fastest EV

  • Mullen Automotive launched the Mullen FIVE EV Crossover at the recent LA Auto Show, with the vehicle winning the auto show’s ZEVA(R) award for top all-electric SUV
  • The Mullen FIVE has seen a spike in popularity following its debut, with the carmaker recently opting to lift the initial reservation limit to 25,000 vehicles
  • The future Mullen FIVE’s RS is being modeled to usurp Tesla Model S Plaid’s title as the world’s fastest EV, with the ability to accelerate from 0-62 mph in a mere 1.9 seconds
  • Mullen Automotive has recently entered a partnership with Germany’s ARRK to support the engineering development of the Mullen FIVE and future models within its pipeline
  • Mullen Automotive is a Southern California-based EV company with an established manufacturing footprint outside Tunica, MS. Mullen recently started trading on the NASDAQ under ticker symbol MULN
“If this happens, the Tesla Model S Plaid will definitely have something to worry about.” (https://ibn.fm/94YOy) The quote, by Top Speed Magazine, refers to the development of the Mullen FIVE RS, a sportier version of emerging electric vehicle (“EV”) manufacturer Mullen Automotive’s (NASDAQ: MULN) flagship Mullen FIVE. The California-based automaker aims to set itself apart from the rest of the automotive pack through the creation of a sophisticated and luxurious crossover EV-SUV, a vehicle that has been meticulously designed by the creators of the famed Rolls Royce Ghost, all while boasting Tesla-rivaling performance (https://ibn.fm/n2jH9). The Mullen FIVE, starting at $55,000, is set to come equipped with a 95-kWh battery, allowing for a 325-mile (523 km) range, with the battery able to be charged up to 80 percent in just 21 minutes, thanks to its proprietary fast-charging capabilities. In terms of acceleration, the Mullen FIVE can do 0 to 62 mph (100 km/h) in 3.2 seconds, on its way to an electronically limited top speed of 155 mph (250 km/h). Those figures look even more impressive when seen through the lens of the future Mullen FIVE RS, which will have the ability to accelerate from 0 to 62 mph in a mere 1.9 seconds on its way to achieving a top speed of 200 mph. To put those figures into context, the Tesla Model S Plaid — currently the fastest EV in production — accelerates from 0 to 62 mph within 1.98 seconds. It comes as no surprise that the Mullen FIVE was the recipient of the recent Los Angeles Auto Show’s ZEVA Award for top all-electric SUV, beating out entries from the likes of Lincoln and Rivian (https://ibn.fm/TEH6a). Following the successful debut of its Mullen FIVE EV Crossover at the recent LA Auto Show, Mullen Technologies announced that the carmaker would be increasing the reservation limit for its flagship vehicle to 25,000 initial reservations, up from their original 5,000-unit target (https://ibn.fm/URPqR). “We’ve decided to increase the limit of the total number of FIVE reservations from 5,000 to 25,000 vehicles due to the strong demand in the first three days of the show,” said Jason Putnam, vice president of marketing for Mullen Automotive. “By establishing a 25,000-reservation limit, this allows us to offer a very special trim option package that will only be available to our initial ‘launch’ customer set.” Mullen Automotive plans to build the Mullen FIVE at its existing 127,000-square-foot Advanced Manufacturing and Engineering Center (“AMEC”) outside Tunica, Mississippi. It recently announced the addition of 1.2 million square feet for a body shop, paint shop and general assembly. The company also revealed that it had entered a strategic partnership with ARRK, a Munich, Germany-based automotive engineering company. The partnership will support the continued engineering development of the Mullen FIVE, with a focus on Computer Aided Engineering (CAE); body development with closures; high voltage battery housing; interior, chassis, and thermal management; and infotainment for the next 3-year period. The partnership will initially work towards the development of the Mullen FIVE EV Crossover, and then move on to the company’s future vehicle pipeline, which includes a seven-seat SUV program (https://ibn.fm/QODtY). Mullen also recently started public market trading on Nov. 5, 2021. You can find Mullen on the NASDAQ, under ticker symbol MULN (https://news.mullenusa.com/mullen-automotive-commences-trading-on-nasdaq). For more information about the Mullen FIVE, visit the company’s website at www.MullenUSA.com. NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN

Sugarmade Inc. (SGMD) Subsidiary Obtains Permit, Takes Key Step Toward Commercialization

  • SGMD’s Lemon Glow receives conditional use permit number from county
  • Sugarmade’s seed-to-door vision separates the company from other players in the California cannabis marketplace
  • Estimated for Lemon Glow property could reach as much as 64 tons of dry trimmed cannabis flower annually
Sugarmade (OTC: SGMD) is making significant progress toward its end goal of becoming a central play in the growing California cannabis space. The company announced that its wholly owned subsidiary, Lemon Glow Company, has received a conditional use permit (“UP”) number from the Community Development Department of the County of Lake, California (https://ibn.fm/zkjLq). The permit, noted Sugarmade, is an important step toward the conditional use permit for commercial cannabis cultivation at its property. “We are excited to see the process moving forward for our Lemon Glow property, which represents an important strategic asset as we further verticalize our overall model,” stated Sugarmade CEO Jimmy Chan. “Our vision is ‘seed to door,’ which would separate us from other players in the California cannabis marketplace, given that we have already established a leading and growing presence in the cannabis delivery market and have set in motion a process to control our own supply chain. Ramping up our cultivation resources is a significant step in fully leveraging a vertical model to drive shareholder value through margin gains.” Sugarmade has been focused on achieving its seed-to-door vision. Earlier this year, the company signed a definitive agreement outlining the acquisition of Lemon Glow Co., including all assets, interests, rights and property; the property acquisition included 640 acres in Lake County, outside of the Commercial Cannabis Cultivation Exclusion Zones (https://ibn.fm/SgkG3). The announced merger closed in May 2021. SGMD noted that the annual potential cultivation yield at the Lemon Glow property could reach as much as 4,000 pounds of dry trimmed cannabis flower per acre annually, or approximately 128,000 pounds, or 64 tons, of dry trimmed cannabis flower annually. In order to reach those estimated, the necessary approvals and permits need to be obtained, including approval to designate 32 acres of the 640-acre Lemon Glow property as outdoor cannabis cultivation. With the conditional UP number in hand, Sugarmade is now turning its focus to the next steps necessary in order to achieve its strategic goals. “While [we believe] that the issuance of the conditional UP number by Lake County is an important step toward full approval to cultivate cannabis on the property, the company must still gain approval from other local and state regulatory authorities in California,” the company noted in the announcement. “Furthermore, the issuance of the conditional use permit number by the County of Lake allows the company to proceed with a state cannabis cultivation license application and applicable permits, such as those from the Department of Cannabis Control, the Department of Food and Agriculture, the Department of Pesticide Regulation, the Department of Fish and Wildlife, the State Water Resources Control Board, the Board of Forestry and Fire Protection, the Central Valley or North Coast Regional Water Quality Control Board, the Department of Public Health, and the Department of Consumer Affairs, as may be required.” Sugarmade has set its eyes on expanding its end-market access as a central player in the growing California cannabis delivery marketplace while also developing its in-house cannabis production capacity to verticalize operations in the space. Through a combination of organic growth and strategic acquisitions, Sugarmade is working to develop a full farm-to-door vertically integrated cannabis business. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush(TM), NUG Avenue, Lemon Glow and Budcars. For more information, visit the company’s website at www.Sugarmade.com. NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://ibn.fm/SGMD

InnerScope Hearing Technologies Inc. (INND) Completes Key Acquisitions as Hearing Aid Market Poised for DTC Transition in 2022

  • The World Health Organization estimates by 2050 nearly 2.5 billion people will have some degree of hearing loss and at least 700 million will require hearing rehabilitation
  • InnerScope Hearing Technologies has made transformational moves in 2021 to position itself as a leader in direct-to-consumer (“DTC”) sales of hearing aids and related products
  • InnerScope recently acquired Hearing Assist II, Walmart’s largest hearing aid provider, and iHEAR Medical, the maker of the only FDA-cleared home hearing screener, setting up for what expects to be a record Q4 2021
As our homes have become our offices, schools, restaurants, and more throughout the coronavirus pandemic, they have also become our shopping centers, with direct-to-consumer (“DTC”) sales enjoying another banner year in 2021. Growing consumer familiarity coupled with new technologies is wending way for emerging markets, an opportunity that is squarely in the sights of InnerScope Hearing Technologies (OTC: INND), a DTC manufacturer and distributor of FDA-registered hearing aids, hearing assistive devices, hearing health-related products, and Personal Sound Amplifier Products (“PSAPs”). Hearing issues represent a substantial market in the U.S. and globally. Roughly 1 in 8 Americans over the age of 12 has hearing loss in both ears. At the macro level, the World Health Organization estimates that by 2050 nearly 2.5 billion people will have some degree of hearing loss and at least 700 million will require hearing rehabilitation. Data from the National Institute of Health’s National Institute on Deafness and Other Communication Disorders indicates that age is a discerning factor, including about 2% of the U.S. population aged 45-54, almost 25% of people 65-74 and 50%+ of Americans over the age of 75 having disabling hearing loss. Unfortunately, prohibitive costs have historically kept many of these people from using some type of applicable technology to help with their condition. Up until just recently, a prescription was required for hearing aids, which drove prices into the thousands of dollars, keeping them out of reach for many people. To that point, only about 16% of Americans aged 20-69 that could benefit from hearing aids have every used them, a figure that jumps to about 30 percent among people over age 70. InnerScope is aiming to break the persistent barriers with a full lineup of affordable hearing solutions designed to improve the quality of life of the 70 million people in North America who suffer from hearing impairment and/or hearing-related issues, including tinnitus. Tinnitus, an unexplained ringing in the ears, is an audiological and neurological condition experienced by nearly 50 million Americans. Using leading technology, InnerScope offers a variety of hearing health products that consumers can purchase online and save up to 70% compared to traditional brick and mortar clinics.  These hearing products includes Bluetooth app-controlled rechargeable hearing aids, hearing and tinnitus vitamins, assorted hearing aid ear cleaning products and much more. These hearing products can be purchased either as one-off sales or subscriptions through https://myheariq.com. 2021 was a transformational year for InnerScope, as it launched its hearing aid products along with deploying a one of a kind in-store Free Self-Check Hearing Screening Kiosks with some of the largest grocery and pharmacy retailers in the nation. InnerScope’s full line of hearing health products now being available through multiple retail/wholesale channels, including Amazon.com, Giant Eagle, Hy-Vee, Hartig Drug, Food City, and Walmart.com. Walmart is a significant growth driver for InnerScope going forward following the completion of the acquisition of Hearing Assist II, LLC in November. Hearing Assist is an established leader in the DTC hearing aid market with over 500,000 hearing aids sold and top-line revenues of more than $72 Million since 2018. The company is Walmart’s largest hearing aid supplier, with deployed product displays in 757 Walmart stores throughout five states. InnerScope said it expects record revenue during Q4 with the acquisition completed. The Hearing Assist acquisition came on the heels of InnerScope acquiring iHEAR Medical Inc. in October. Founded in 2010, iHEAR pioneered online DTC hearing solutions. The acquisition expanded InnerScope’s products and services to include the iHEARtest(TM), the only FDA-cleared home hearing screener, advanced FDA-registered hearing aids, and the TReO(TM) Personal Sound Amplification Product (“PSAP”). Furthermore, InnerScope onboarded the iHEAR customer base and established distribution network that included retailers/wholesalers CVS Pharmacy, AmerisourceBergen, Western States Pharmacy Coalition (“WSPC”), Good Neighbor Pharmacy, amongst others, and insurance partners VIA Benefits, , and Willis Towers Watson. InnerScope is hitting these milestones at time when the over-the-counter and DTC markets are ripe for disruption under calls by the Biden administration for affordable (and insurance-covered) hearing aids. Completing these acquisitions in combination with a shifting market landscape will have the investment community watching for how it translates to InnerScope’s top and bottom lines. For more information, visit the company’s website at www.INND.com. NOTE TO INVESTORS: The latest news and updates relating to INND are available in the company’s newsroom at https://ibn.fm/INND

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