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Breaking News:

8-23-18 Trickle Research Issues Earnings Update
PetroShare Corp 
12-24 Month Price Target $3.20

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8-15-18 Trickle Research Issues Research Note
Command Center, Inc.  
12-24 Month Price Target $9.60

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8-16-18 Trickle Research Issues Research Note
Social Reality, Inc.  
12-24 Month Price Target $8.50

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Consilium Global Research Issues
Quarterly Update 8-7-18
Zynex, Inc. 
Price Target $7.00
    Click Here>>

8-1-18 Trickle Research Issues Research Note
Social Reality, Inc. 
12-24 Month Price Target $7.50

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05-31-18 Trickle Research Initiates Research of
Petroshare Corp 
12-24 Month Price Target $3.20

Click Here for Research Report

July-5-18 Greenridge Global Equity Research
Issues Updates Fullshare Holdings, Ltd. 
Click Here>>

Greenridge Global Equity Research
Issues Updates 6-4-18
Guangdong Land Holdings, Ltd. Click Here>>

Trickle Research update of
Assure Holdings, Corp  5-29-18
12-24 Month Price Target Suspended
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Trickle Research earnings update of New Jersey Mining, Inc.   NJMC  5-17-18
12-24 Month Price Target $.30
  Click Here>>

Consilium Global Research Issues
Quarterly Update 5-15-18
Zynex, Inc.
Price Target $7.00
    Click Here>>

Trickle Research update of
Command Center, Inc.  5-15-18
12-24 Month Price Target $9.60
  Click Here>>

Greenridge Global Equity Research
Issues Updates 5-3-18
Guangdong Land Holdings, Ltd. Click Here>>

Trickle Research update of
AzurRx Biopharma, Inc.  5-2-18
12-24 Month Price Target $10.25
   Click Here>>

Trickle Research update of
AzurRx Biopharma, Inc.  4-16-18
12-24 Month Price Target $10.25
   Click Here>>

Trickle Research Earnings Update Q-4
Social Reality, Inc. SRAX
12 - 24 month Price Target: $7.50
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Trickle Research Initiates Coverage 4-6-18 for:
Camino Minerals CAMZF
12-24 Month Price Target $.90 

For full Research report >> Click Here

Greenridge Global Equity Research
Issues Updates 4-10-18
Guangdong Land Holdings, Ltd. Click Here>>

Consilium Global Research Issues Quarterly Update 3-8-18
Price Target $7.00
>> Click Here

Feb 2- 2018
Trickle Research Initiates Coverage
AzurRx Biopharma, Inc. 12-24 Month Target $10.25
Click Here>>

Consilium Global Research Initiates Coverage 12-5-17
Price target $6.00

>>For Full Research Report  >>Read More

Feb 18-2018
Trickle Research Issues Research Note
New Jersey Mining, Inc.
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Feb-2-2018
Greenridge Global Equity Research
Issues Updates
Fullshare Holdings, Ltd. 
Click Here>>

January 25-2018

Trickle Research issues Research Update
Endurance Exploration Group, Inc. (EXPL-OTC)
Click Here >>



 

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Research Coverage 7-18
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Black Swan Newsletter

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September 2018

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Our goal with the Black Swan Connection is to provide our subscribers, investors and financial professional compatriots outstanding investment insight that is a step above and outside of what will normally be found in mainstream financial press. To that end we have brought together seasoned, successful, and some of the brightest professionals in their respective fields to provide the articles and advice that is based on decades of practice in the field.

 

Breaking News

Greenridge Global LLC issues update 9-6-18
Full Share Holdings (HK:607)
target $4.00

Nearing Resolution On CHS Deal

China High Speed Sale Update.  Fullshare has begun selling off non-core assets as required under the prospective deal.  Absent this, there has been little in the way of updates as Neoglory Prosperity Inc. [SZ: 2147] works on financial and regulatory issues on its end.  The potential sale will be terminated if a formal sale and purchase agreement is not entered into by September 30, 2018.  The outcome of this potential deal will have a significant impact on the future makeup of Fullshare. 

H1:18 Underperforms on CHS Weakness.  Fullshare reported H1:18 Revenue of RMB 3,883.89 million, a 19.7% decline from the year ago period.  China High Speed, which produces the bulk of the Company’s Revenue, saw sales decline 11.0% year-over-year, to RMB 3,466.79 million.  The decline was led by a 14.4% decline from its wind gear business.  Property sales fell sharply from the year ago period, as fewer projects saw deliveries during the first half of 2018.  Gross margins fell to 23.0% from 24.8% due to the lower Sales at CHS, where margins fell to 23.0% from 30.8% in the year ago period.  Fullshare reported a fair value change in financial assets of RMB 855.18 million, of which RMB 741.15 million was attributable to the share price increase of Zall Group [HK: 2098].  SG&A fell to RMB 845.52 million, from RMB 914.08 million in the year ago period.  Other Income of RMB 434.11 million was primarily from interest and investment income, while Other Expenses of RMB 71.05 million included a RMB 66.0 million impairment on its Hin Sang Group holdings [HK: 6893] investment.  Finance expenses increased to RMB 499.56 million on higher interest payments from CHS.  Net Profit for the period was RMB 550.60 million, or RMB 2.79 per share.

Model Update.  We made a number of changes to our model, including reducing the Revenue outlook, in large part because of recent CHS performance.  As noted previously, our model could change substantially based on the outcome of the proposed CHS deal.  Also of note is the share price of Zall has tumbled thus far in the second half of 2018, which if the price stays in this area would produce a multi-billion RMB loss in H2:18.

Maintaining Rating & Target.  As we wait for the outcome of the proposed CHS deal, Fullshare management has been deploying capital into targeted tourism investments, the education sector and the distressed real estate market, all of which should lift future earnings.  Based on information currently available, we are reiterating our Buy rating and HK$4.00 target price on Fullshare Holdings.  Our target price is based on a discount model, which assumes Fullshare will acquire RMB 1.5 billion of EBITDA annually, at 5x EBITDA that will grow 15% per year, discounted at 6% annually.

Greenridge Global LLC issues update 8-3-18
Guangdong Land Holdings
target $4.75

Click Here for Research Note

 

 


InvestorsHub News Wire:

 

 

 

Weekly Update: September 10th, 2018

Latest Happenings

Breaking News

We’ll be announcing our news distribution agreement with Quote Media in the Black Swan Connection edition next week. This adds a very significant distribution channel for what is becoming one of the most credible sources of Micro Cap research. Stay Tuned.

Also for those of you following the Trickle Research model portfolio gains are outstanding this year again. Complete update next week.

Tesla TSLA $287.83 

Tesla has broken through the $300 resistance level and negative press continues to pile up. Look for more downside. Long ways to go before the valuation makes sense.

Not much new here, but the negative press continues to build. If you’re still short stay in there. Cover on big drops and short again on spikes and you’ll make a lot of money on this.

 

Greenridge Global LLC issues update 9-6-18
Full Share Holdings (HK:607)
target $4.00

Nearing Resolution On CHS Deal

China High Speed Sale Update.  Fullshare has begun selling off non-core assets as required under the prospective deal.  Absent this, there has been little in the way of updates as Neoglory Prosperity Inc. [SZ: 2147] works on financial and regulatory issues on its end.  The potential sale will be terminated if a formal sale and purchase agreement is not entered into by September 30, 2018.  The outcome of this potential deal will have a significant impact on the future makeup of Fullshare. 

H1:18 Underperforms on CHS Weakness.  Fullshare reported H1:18 Revenue of RMB 3,883.89 million, a 19.7% decline from the year ago period.  China High Speed, which produces the bulk of the Company’s Revenue, saw sales decline 11.0% year-over-year, to RMB 3,466.79 million.  The decline was led by a 14.4% decline from its wind gear business.  Property sales fell sharply from the year ago period, as fewer projects saw deliveries during the first half of 2018.  Gross margins fell to 23.0% from 24.8% due to the lower Sales at CHS, where margins fell to 23.0% from 30.8% in the year ago period.  Fullshare reported a fair value change in financial assets of RMB 855.18 million, of which RMB 741.15 million was attributable to the share price increase of Zall Group [HK: 2098].  SG&A fell to RMB 845.52 million, from RMB 914.08 million in the year ago period.  Other Income of RMB 434.11 million was primarily from interest and investment income, while Other Expenses of RMB 71.05 million included a RMB 66.0 million impairment on its Hin Sang Group holdings [HK: 6893] investment.  Finance expenses increased to RMB 499.56 million on higher interest payments from CHS.  Net Profit for the period was RMB 550.60 million, or RMB 2.79 per share.

Model Update.  We made a number of changes to our model, including reducing the Revenue outlook, in large part because of recent CHS performance.  As noted previously, our model could change substantially based on the outcome of the proposed CHS deal.  Also of note is the share price of Zall has tumbled thus far in the second half of 2018, which if the price stays in this area would produce a multi-billion RMB loss in H2:18.

Maintaining Rating & Target.  As we wait for the outcome of the proposed CHS deal, Fullshare management has been deploying capital into targeted tourism investments, the education sector and the distressed real estate market, all of which should lift future earnings.  Based on information currently available, we are reiterating our Buy rating and HK$4.00 target price on Fullshare Holdings.  Our target price is based on a discount model, which assumes Fullshare will acquire RMB 1.5 billion of EBITDA annually, at 5x EBITDA that will grow 15% per year, discounted at 6% annually.


 

 

 

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