General Personal Finance

Business Success

Many new businesses die before they’ve had a chance to live – in fact, experts believe that about 50% of new business fail within the first year and about 95% of them won’t live through the first five years. Interestingly, many of the businesses that fail had wonderful ideas but they often falter at the altar of execution.

However, you can improve your odds of success by taking some proactive steps even before you launch. The article provides insight into 5 things prospective business owners should think about before starting their business.

Think about the skills you have and the one you lack

Going into business requires more than just scrapping up a few thousand dollars and getting someone to call you boss. You’ll need to be ready to sell your products and services, negotiate hundreds of deals monthly, and make some really hard decisions. Hence, the first step that any prospective business owner must take is to take time to access their strength and weaknesses. Knowing your strength and weaknesses will help you to optimize any learning or skill-acquisition you need to do and it could help you make the best hiring decisions from the onset.




The SBA has a business readiness assessment guide that could help you evaluate your experiences, temperament and your skills. You should also consider looking for a successful business owner who would be willing to provide you with mentorship and guidance as you prepare to undertake the entrepreneurial journey.

Think about how you’ll sell your products or services

Many prospective business owners often fall in love with the idea of their product and services and they expect every other person to feel the same way about the products. However, in real life you’ll need to get objective feedback about your products and service in order to gauge the potential demand. Getting feedback before launching will help you develop a product or service that people will actually be interested in buying. Objective market research will help you find a unique selling proposition in your sales, marketing, and pricing.

Think about how much money you’ll need

Many businesses often falter and fizzle out in the first couple of months or years after the ribbon-cutting event even before the business has had a chance to live and thrive. One of the biggest reasons for business failure is lack of cash because cash is the lifeblood of any business. You’ll need to know much startup capital you need to execute your idea, how much running costs will keep the business alive, and how you’ll handle your cashflow to avoid too many instances of a cash crunch.

If you don’t have enough money to keep your business solvent, it might also be a smart move to educate yourself on how to get business loans even before you launch. You may want to think about getting investors/partners on board in order to secure funding for your business.


Think about the demands of running a business

Running a business is exponentially tougher than working a regular nine to five job. When you are the employee, you only need to show up, do the tasks expected of you, and punch in the clock. You can also expect extra pay for overtime and you should ideally have paid vacation. However, when the tables are turned and you are the employer, you’ll most likely be working for most of your waking days. You might function like “normal” worker during the day, but most of your evenings and night will be spent agonizing over administrative tasks and other small details.

If you are planning to start a business so that you can take control of your time and your life, you should know that the business will probably “own” you in its earliest stages. More so, you’ll need to put in long hours, you won’t have off days, and you would most likely won’t get paid for your troubles at the start.

Think about the factors standing against you

When you choose to start a business, you’ll be up against a number of factors that would attempt to make it hard for you to succeed. You’ll need to think about factors such as government regulations and municipality ordinances, state of the industry, getting a suitable location, building a reliable supply chain, and staying one step ahead of the competition. It is important that you think about these factors and mitigate the risks they might pose to your success even before you launch your business.

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Chesapeake Energy Corporation CHK Stock News

Chesapeake Energy Corporation (NYSE: CHK)

Chesapeake Energy had a rough start to the day today. As soon as the market opened, the stock started finding its way to the red. Throughout most of the morning, we saw steady declines, bringing the stock lower and lower. Nonetheless, it seems as though investors have come to their senses over the past hour or so, and the stock is nearing the green again. Below, we’ll talk about what we’re seeing in the market, why, and what we’ll be watching for with regard to CHK.





What We’re Seeing From CHK

As mentioned above, Chesapeake Energy wasn’t off to the best of starts in the market today. When the opening bell rang, the stock quickly started making its way downward. Throughout most of the morning, we saw a continuation of downward movement. However, as we transition into the afternoon, we’re seeing an incredibly quick recovery. At the moment (12:08), CHK is trading at $7.33 per share after a loss of $0.02 per share (0.27%) thus far today.

Why The Stock Is Heading Upward

As usual, as soon as the CNA Finance team was notified by our partners at Trade Ideas that CHK was making a run toward the top, we started to dig to see what was going on. The truth is that there hasn’t been any fundamental news released today. However, yesterday’s news led to strong gains. From there, we saw an early morning correction followed by investors thinking, “OK, time to bring it back to the green.”




The truth is that there’s a good reason for the gains. OPEC recently announced an agreement that cuts 1.2 million barrels of oil from global production daily. Yesterday, news broke that Russia, Mexico, and other non-OPEC nations also reached an agreement. These countries are cutting around 550,000 total barrels of oil from global production daily. With these cuts, oil is likely to head upward in value ahead. Ultimately, CHK and others that make their money in the industry will likely see further gains.

What We’ll Be Watching Ahead

Moving forward, the CNA Finance team will be keeping a close eye on CHK and others in the oil industry. With so much oil being cut from global production, we could see incredible opportunities ahead. We’ll also be keeping an eye on global supply and demand data. Many argue that the supply glut is still larger than demand, even after the cuts. However, the data will settle the argument soon enough. Nonetheless, we’ll keep an eye on the news and bring it to you as it breaks!

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Bankruptcy is an interesting topic. The truth is that no one ever wants to file bankruptcy. After all, doing so will cause major harm to a credit portfolio. However, if you’re dug in too deep, it may be an impossible to avoid reality. So, should you even try to avoid it? Well, that depends on how far in you are. Today, we’ll talk about the idea…





What The Law Requires

First and foremost, it’s important to keep in mind that under Federal law, you can’t just file bankruptcy. At some point, you have to seek some sort of credit counseling service. So, if you haven’t done so already, that’s where you’re going to want to start.

The Most Important Thing To Figure Out If You’ve Already Took A Shot At Credit Counseling Once

The truth is that in this situation, you’re trying to do what you can to protect your credit. If you have good credit, life becomes a whole lot easier, and we all know that bankruptcy will tarnish that. While most people considering bankruptcy often think about how bad their credit will be, they generally don’t know what their credit score is right now.




The truth is that if you’re considering bankruptcy, chances are that you’ve already done the damage to your credit. You’ve tried to make your payments on time, but often came up short and were forced to send it late payments. As a result, your credit score has fallen. So, if you’re thinking about bankruptcy, don’t want to do it because of your credit score, make sure that you know what your credit score is and what you’re really protecting.

Understanding The Damning Effects Of Bad Debt

The truth is that it’s possible to recover from bankruptcy in as little as 3 years. I know because I have family members that have done so. However, if you have bad debt on your credit report, the debt can keep your score down for far longer.

There are several factors that make up your credit score. One of those factors is debt to income ratio. If you have far more debt than you do income, it’s going to take a very long time to pay off your debt. During this time, you’ll have to deal with less than perfect credit. In many cases, this period of time is far longer than the 3 to 7 years it may take to recover from a bankruptcy.

Answering The Big Question Here

So, going back to the beginning of the article, the big question here is should you even try to avoid filing bankruptcy? To answer the question, simply follow these steps…

  • Seek Credit Counseling – If you haven’t done this, you are going to have to do it at some point.
  • Check Your Credit – As mentioned above, most people that try to avoid bankruptcy do so for credit reasons. However, if you’re in need of bankruptcy, your credit is probably already damaged. So, check your credit and make sure that you know what you’re working so hard to protect.
  • Gauge The Affect Of Your Debt – Knowing that bankruptcy will take 3 to 7 years to recover from, take a look at your debts. Do you realistically believe that you will be able to get your debts under control over this period of time? If not, chances are that bankruptcy is your best option.

Final Thoughts

Bankruptcy is a hard decision to make. However, at the end of the day, filing for bankruptcy isn’t as bad as you may think The truth is that it doesn’t come with the stigma that it did 30 years ago. No one will treat you any different. When making this decision, simply think about what’s best for your overall financial stability! If bankruptcy is the answer, set your pride aside and call a bankruptcy attorney!







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Any visitor to Tel Aviv can’t fail to notice the sheer number of construction projects underway in the coastal city. With the highest birthrate in the developed world, Israeli demand for new housing, as well as commercial office space, continues to grow exponentially, not only in the center, but in numerous boomtowns in the so-called periphery.

That demand is already fueling an explosion in start-ups that deploy world-beating Israeli technology to create a range of intelligent smart home devices for both the domestic market and the newly empowered and connected global middle class.

Now technology moguls and venture capitalists Haim Toledano and Saar Pilosof are entering the sector, leveraging their unique expertise in next-generation personalized online platforms and their enormous contact books to ensure that Israeli innovation is right at the heart of the next big tech revolution – the Internet of Things. Toledano is convinced that Google, and particularly its AI division, will be right at the heart of it all.

“We have known for a few years now that the Internet of Things and smart homes are going to a big part of our future, but the technology always seemed a little behind. When Saar and I saw Google’s Home assistant, we immediately knew that the future of the Internet of Things and the dream smart home will have Google at its core,” he explains.

It’s estimated that by 2020 there will be around 25 billion IoT-enabled devices in operation. The worldwide percentage of households with internet access will be 69%, with smartphone penetration at 75%. These projections mean that the value of the global smart home market could be as much as $43 billion, nearly three times its current worth.

Israeli gadgets, gizmos, and smart solutions are already making their mark. In the security sector, expected to make up 34% of the entire smart home market within five years, solutions like ENTR by Mul-T-Lock are enjoying significant reception, no doubt bolstered by Israel’s reputation for excellence in this area.

Energy management is already a billion-dollar global industry and is projected to grow by over 500% in the next few years, enabling the rapid growth of firms like Switchbee, Sensibo, and SmarTap, while the convenience and productivity fields could see major success for companies like EarlySense, as well as outfits like Singlecue and PointGrab, both powered by cutting-edge gestural interfaces.

Toledano and Pilosof are currently scanning the Israeli scene for startups and tech companies already developing IoT and smart-home solutions via Google integration.

Toledano sums up his vision: “Smart devices and appliances should just work. In the next few years your home will gradually become smarter with every new device you get.”

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Interpace Diagnostics Group Inc IDXG Stock News

Interpace Diagnostics Group Inc (NASDAQ: IDXG)

Shareholders in Interspace Diagnostics were treated to an extended holiday gift on Friday, with shares of IDXG soaring over 400% since Thursday on the news that Aetna, the third largest health plan provider in the United States, has agreed to cover IDXG’s ThyraMir test for all of Aetna’s 46 million members nationwide, with coverage effective immediately.




Meet IDXG And Its ThyraMir Thyroid Assay

IDXG’s proprietary ThyGenX and ThyraMir thyroid assays are now covered for approximately 200 million patients nationwide, including through plans sponsored by Medicare, national, and regional health plans.

The IDXG ThyraMir and ThyGenX assays represent the only test available in the market that can act as a predictor of thyroid-related issues in a patient. Over 80% of those tested with IDXG’s ThyraMir are brought back for additional diagnostics, demonstrating that the test has been shown to temper misdiagnosis and warn of early thyroid issues in patients. The ThyraMir test is not altogether new, with IDXG first offering the test back in 2015. Since then, the IDXG-developed test has been successfully conducted in over 5000 patients and has been supported by endocrinologists and pathologists throughout the country.

Both the ThyGenX and ThyraMir reflex testing have been able to foretell, with highly predictive value, the presence of cancer in thyroid nodules. The combination of both IDXG tests can provide improved diagnostic capability and offer surgical decision-making information when the current standard of testing fails to provide a clear indication for the presence of cancer.

Thyroid Cancer In The USA

The test coverage is a boon for IDXG. With thyroid cancer being the most rapidly increasing cancer in the United States (cases have almost tripled over the past three decades), the results of the IDXG test will be an important tool for physicians, providing a means to no longer indiscriminately perform thyroid surgery in patients. With almost 80% of the surgical outcomes showing that cancerous nodules were, in fact, benign, the IDXG ThyraMir and ThyGenX test will be an important indicator to reduce the rate of the unnecessary surgeries in cases where there is no clear indication of malignancy.

With over 525,000 thyroid fine needle aspirations being performed on an annual basis, it has been shown that 15%-30% of the results indicate an indeterminate finding, making the IDXG ThyraMir and ThyGenX test that much more relevant.

The state of the art test uses genetic sequencing that can identify more than 100 genetic alterations that are associated with both papillary and follicular thyroid carcinomas, which are the two most common forms of thyroid cancer.

The Future At IDXG

Obviously, with IDXG now on the verge of providing between 50K and 150K ThyraMir tests per year, the company will enjoy an enormous boost in both revenue and credibility. IDXG has additional tests in the pipeline that serve to evaluate the risk of cancer in the pancreas. With the success of the two recently covered tests, the likelihood that the IDXG science is technically sound for other cancer screenings may lead investors to effectively insinuate that they will have similar success in the pancreatic testing assays.

The stock closed at 25¢ on December 7th, and since then, IDXG stock has traded over 175 million shares and closed at $1.35 on Friday. The rise in volume is staggering, with IDXG trading an average of over 75 million shares on December 8th and 9th, up from its historical average of approximately 200K shares per day.

IDXG filed its most recent 10Q on November 17th and listed just 18.1 million shares outstanding. Frankly, with the potential for IDXG going forward, the share price may have a far greater distance to run. Perhaps the $47 million dollars in total liabilities has led to some investor caution, however, with the tiny O/S count, investors that bought shares last week are in an enviable spot.

While IDXG may retrace some of the move, it may prove to be highly unlikely that the share price will be kept below a dollar for any prolonged period of time. Revenues are going to soar, and interest from third parties will be enormous, with the potential for future predictive testing assays most likely in the near-term pipeline for IDXG.

The company reported $3.3 million dollars in revenue for the three months ending on September 30, 2016. The margins were tight, though, with IDXG having a gross profit of just under $1.5 million on those sales. Further, IDXG is working to restructure slightly over $10 million in debt and $3.7 million dollars in severance costs to former employees.

Regardless of the overhang from prior management and capital structure, IDXG shareholders should have little to worry about moving forward. Except for the potential of manipulative trading by aggressive market makers, shareholders should expect a continued rise in the share price moving forward.

Focused And Disciplined At IDXG

IDXG will be leaving a warped legacy behind, concentrating almost exclusively on a molecular diagnostics market that will offer significant growth opportunities by providing the tools necessary for health care providers to reduce medical expenses based on the predictive capabilities of the IDXG testing portfolio.

The next steps for IDXG will be to grow its test volumes, secure additional reimbursements, and support the current reimbursement and revenue growth for its innovative tests.

For shareholders that have not yet been introduced to IDXG, I suspect that the newly found attraction to the stock will not end anytime soon. For those willing to invest in IDXG, don’t feel the need to chase it higher. Like most stocks that trade on the NasdaqCM, shares can be pushed quickly in either direction. Placing a bid well below the current bid may, in fact, allow an investor to snag some shares well below the current value, at least from a percentage standpoint.

As far as Soulstring’s “Have We Met” stock of the week, I can only say that I wish I was introduced sooner. While so many investors fail to acknowledge a stock trading at less than a buck a share, IDXG goes to show that enormous opportunity exists for investors lucky enough to find these hidden stocks and perform the proper due diligence before making the investment.

For those that already knew IDXG, they were buoyed by a promising portfolio of tests and a low share count. For now, IDXG in in a position to become a long-term winner, with a current market cap of just over $24M dollars appearing to be extremely low, based on the news last week.

Keep an eye on developing news and market gyrations. Opportunities will present themselves and a cost average approach to purchasing stocks like IDXG, which have increased by over 400% in three days, is advised.

Disclosure: I have no position in any stock mentioned, but may initiate a long position in IDXG within the next 72 hours.

I wrote this article myself and it includes my own research and expresses my own opinions. I am not receiving compensation for it (other than from CNA Finance). I have no business relationship with any company whose stock is mentioned in this article.




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Bonanza Creek Energy BCEI Stock News

Bonanza Creek Energy Inc (NYSE: BCEI)

Bonanza Creek Energy is having an incredible time in the market today. Since the opening bell, the stock has traded well into the green, with the only move we’re seeing being upward. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to BCEI ahead.





What We’re Seeing From BCEI

As mentioned above, Bonanza Creek Energy is having an incredible start to today’s trading session. When the opening bell rang, the stock found itself well into the green. Since then, the stock has been climbing higher and higher with each move. Currently (10:34), BCEI is trading at $1.31 per share after a gain of $0.31 per share (31.00%) thus far today.

Why The Stock Is Headed Upward

As soon as we noticed that BCEI was climbing so high, the CNA Finance team started working to see what was causing the movement. The truth is that it’s not the only stock in the oil and energy sector that’s moving upward in such a big way. They’re all running on highs following yesterday’s OPEC deal.











Yesterday, we heard news that OPEC did indeed finalize the oil output cut agreement. Even Iran and Iraq got on board to make this happen. As a result, OPEC will produce 1 million barrels of oil per day less than it has in the past. This is great news for Bonanza Creek Energy, as oil plays a big role in the company’s profitability.

What We’ll Be Watching For Ahead

While the OPEC deal is great for BCEI and others, it’s not the be all/end all for the oil sector. At the end of the day, the supply glut is far larger than the OPEC production cut. Nonetheless, this is a step in the right direction. Moving forward, we’ll be keeping a close eye on supply and demand data following the cut. As the news breaks, we’ll be sure to bring it to you!

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warning

For years now, I’ve been receiving emails about binary options. Most of the emails asking my thoughts about the trading vehicle. The good news is that I’m well versed in the topic. In fact, I’ve worked in the binary options industry for some time now. However, the trading vehicle definitely isn’t for everyone. The truth is that for some, they’re a great way to make money. However, for others, they are a great way to lose. At the end of the day, it all boils down to a few simple warnings. If these warnings scare you away, binary options likely aren’t for you. However, if you thrive on high risk/high reward, this may be a great trading vehicle for you.





Warning #1: Not All Binary Options Brokers Are Regulated

As mentioned above, the binary options industry as a whole is a relatively new industry. As a result, regulation surrounding the industry is incredibly thin. While some countries require brokers to be regulated, others don’t. At the end of the day, the Binary Options broker that you choose will make or break the experience. With that said, if you decide that binary options are a good trading vehicle for you, make sure to keep the following in mind when choosing your broker…

  • Regulated Brokers Are Best – At the end of the day, regulation is very important when making sure that your money is safe. While regulation isn’t available with regard to binary options everywhere, if regulation is in your area, make sure to avoid any unregulated broker you come across.
  • Do Your Research – Make a list of brokers and compare everything. Not only their validity as a business, but compare return rates, asset lists, trading types, and other functionalities. For instance, some charge commissions, while other binary options brokers do not – this type of information is very important in order to choose well. After all, you’re going to want to choose a broker that fits with your needs.
  • Read Reviews – Finally, make sure to read a few consumer reviews about the broker before signing up. At the end of the day, if others are having bad experiences, chances are that you will too. On the flip side, if others are having good experience, you can expect to see the same.

Warning #2: By Nature, Binary Options Are High Risk

The truth is that every investment option is going to come with risk. Even putting your money in a saving account is at risk as currency rates can change. However, by their very nature, binary options carry a bit of a higher level of risk than other trading vehicles. The reason for this is relatively simple.











At the end of the day, binary options are a short term trading vehicle. Generally, traders make predictions over a time frame of anywhere from one minute to one day. The truth is that predictions that have a longer period of time to come to fruition are often more successful. Making short term predictions, in many cases, can be like taking a shot in the dark. Nonetheless, with a skilled technical trader, profits are indeed possible, and when seen, plentiful.

Warning #3: Don’t Get Pulled Into Push Button Scams

For those of you who aren’t technical analysts, trading binary options may seem incredibly difficult. As a result, beginners often look to push button programs to make them money in the market. These programs tell users to upload money, then the bot will do the trading for you. However, these bots are generally tied to Shoddy brokers and very rarely make successful trades. So, don’t fall into the push button trap.

Final Thoughts

The truth is that binary options can be difficult. While it is possible to make a profit trading them, it takes a skilled technical trader to be successful. Nonetheless, if you have the technical skills, the willingness to take the time to find a good broker, and the ability to spot and avoid scams, binary options can be a great way to multiply your earnings in the market.

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Most people face the same sort of dilemma at some point in their life: they wonder how they will meet their economic goals to provide for themselves and guarantee their families a quality future.

Despite well-known techniques like the 50/30/20 rule, the state of the economy, stagnant wages, and growing wealth disparity haven’t been much of a help to the average family. This may have left you wondering: how am I going to meet my lifetime economic goals?

The truth is that there are a number of different ways to put your money to use and profit from the capital you already have. One of these methods is the opportunity offered by online CFD trading. Forex platforms give you the freedom to make money on your own terms.

If you are new to the forex world and have no idea of how online trading works, let’s go over some of the basics to online currency trading and get an idea of how you can make your dreams a reality by trading online. I suggest you check out this page here for a more in depth explanation of the forex trading business opportunity.

Forex Trading: What It Is and How It Works

Let’s start with the basics: what is forex trading and how does it work? In order to understand the forex markets, it’s first important to understand the nature of international currencies and how they are evaluated.

International currency values are determined by a number of factors. The most powerful forces that set these prices are supply and demand forces that operate on the worldwide economy. But micro forces in a local economy or region also have an influence on currency values and how they are traded.

Take the United States Dollar, for example. The USD is undoubtedly one of the most popular currencies in the world and one of the most highly traded. The price of the USD is set by the supply and demand of US currency across the globe, but it is also influenced by local factors like unemployment rates, the US’ GDP, and political forces like the recent presidential elections.

Throughout the day, all of these forces play out and result in fluctuations in the currency’s price. As traders buy and sell different currencies, the prices jump and fall; sometimes these changes are just by a small amount, and other times the jumps can be huge as a result of some major cause.

All online currency trading is based on these changes in currency values. Forex traders buy, sell, and trade world currencies and profit based on the slight rise or fall in currency values. Traders that are able to identify a forex trading business opportunity can make a huge profit by investing in the right currency at the right time.

How Trading is Done

Forex traders take advantage of the market’s decentralized nature to trade via the internet. For many, this is the real value that forex trading offers. Thanks to the omnipresence of the internet nowadays, traders can access forex markets from any place that has an internet connection.

This gives traders a level of freedom and independence that most have never seen before. Anyone can trade from their home, on the go, or even while on vacation. For those that want to create a major income stream from forex trading, this gives them the freedom to work wherever they want. For those that are looking to make a little money on the side or make ends meet, this allows them to trade whenever they have leisure time.

How to Choose a Trusted Broker

The way forex traders access the markets is via a broker. There are many large forex brokers that offer services to traders across the globe, so many that it may be difficult to decide which broker to use and which to trust.

While we can’t tell you exactly which broker is best, we can give you an idea of what characteristics to look for in a quality broker.

First, you want to stick with a broker that is regulated. The biggest, most-trusted brokers, will be regulated in the large markets, providing consumer protections to traders. If you decide to take advantage of the forex trading business opportunity, you will be investing your own money. You don’t want to get stuck in a position where you were taken advantage of and you weren’t protected.

Next, you want to be sure that the broker you are using has a good platform to help you make quality and well-informed trades. The best platforms will give you access via both your mobile device and desktop computer, and will have concentrated market information like current currency values and trading charts.

Lastly, be sure to stick with a broker that has a good level of customer service. The best brokers offer 24/7 customer service to help answer any questions that you may have. During your time trading, you are likely to encounter difficulties and problems. You want to be sure that the broker has your back and will help you get over these stumbling blocks.

Learning About the Markets

The most important step to becoming a good forex trader is learning as much as you can about the markets. The key to successful trading is knowing how markets will move and investing based on those movements. That means taking the time to do some real research to get a thorough understanding of how the markets work and are influenced by different factors.

You also need to get a handle on the market lingo. There are a number of terms that are specific to the forex market and if you want to succeed, you have to learn what they mean and how to use them.

Overall, if you are looking to reach your economic goals in life, the forex trading business opportunity could be a great way to supplement your income or generate a second income stream. Forex trading offers traders a level of freedom that can’t be found anywhere else, and if you invest properly, you could make a hefty profit. Just remember, research and hard work are the best ways to succeed. If you take the time and effort to learn about the markets, you can easily meet the economic goals you have set for yourself.

InvestmentZen Images

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Press release

Odyssey Marine Exploration (OMEX) dives to recover treasures from shipwrecks.

But its current project may be the most challenging yet … a desperate dive to recover its own shipwrecked company.

While investors may find other viewpoints here, TheStreetSweeper sees one titanic disaster in the making. Here’s why:

*1. Poof: Cash, Assets, Don Diego Hope

The company reported, as of March 31, operating cash had fallen to $2.8 million … At the same time the company is burning through $2.7 million in just one quarter.

So OMEX appears to be operating on fumes.

At the same time, OMEX is struggling with debt deals and owns virtually no assets.

Filings state: “we have pledged the majority of our remaining assets to MINOSA, and its affiliates, and to Monaco, leaving us with few opportunities to raise additional funds from our balance sheet.”

OMEX’s financial lifeboats recently have been anchored on expectations that Mexico approve the Don Diego permit. But Mexican authorities denied this critical application.

The Don Diego represents a Hail Mary business restructuring for OMEX and, in our view, another reason for investors to brace for failure. Read on….

*2. Mexico: Application Denied

Way back in 1994, the company began navigating the thrilling but choppy waters of undersea excavation and recovery.

OMEX found five major shipwrecks over those 22 years but lost $123 million in the process, Bloomberg reports.

In 2007, the company began a very public 5-year battle with Spain over gold and silver recovered from the “Black Swan” warship. OMEX lost the loot and a federal judge ordered the company to pay $1 million for “bad faith and abusive litigation.”

In the midst of that public drama, the company restructured operations in 2010 to focus on deep water seabed exploration of minerals.

Much hope went into the Don Diego seabed deposit off the Mexico coast – considered the restructuring centerpiece –  and shares ran up around $9 in early April.

Then on April 11, Mexico denied the company’s environmental permit application amid concerns about the environmental impact on sea turtles. OMEX plans to dredge Don Diego’s phosphate rock lurched to a halt and the stock took a 55% dive.

(Source: Yahoo Finance)

OMEX is diving deeper and deeper  …

*3. Delisting

Now OMEX is at the brink of being delisted. Nasdaq notified the company May 23 that its market value had fallen below the $35 million minimum. To regain compliance, Florida-based OMEX must reach and maintain that amount for at least 10 days by Nov. 21.

The company’s valuation is about $15 million short. And at a $20 million valuation, OMEX is, in our view, extremely overvalued.

*4. Exploration Vessel Sold: Quarterly Loss Explodes

The company sold its exploration boat in May. Now it plans to rent boats to conduct explorations.

The same June 7 8-K containing that news also includes this odd statement:  “As communicated in a press release on May 12, 2016, the Company expects to at least double its revenue from its marine services activities between the first quarter and the second quarter of 2016.”

Let’s compare this extremely promotional fluff with reality …

Marine services last quarter generated $0.58 million.

The company last quarter lost $4 million.

*5. Goodbye: Chief Financial Officer Flees

The long-time CFO jumped ship last month. When the money-guy leaves, the company’s usually in deep trouble:

Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

As of June 8, 2016, as part of Odyssey Marine Exploration Inc.’s on going cost-cutting strategy, one full-time executive position has been eliminated. As a result of this restructuring, former Chief Financial Officer, Philip S. Devine, is no longer with the company. Jay A. Nudi, Odyssey’s current Chief Accounting Officer and Treasurer, has assumed the additional duties as Interim Chief Financial Officer.

Such severe cost-cutting is necessary but experience shows that last-ditch effort frequently prolongs the pain. Think of Sears and KMart.

*6. Desperate: Revenue, Earnings

The chief financial officer may have been relieved to extract himself from OMEX and its perilous revenue and earnings trend:

(Source: Company SEC filing)

Just since 2013, revenue has dropped 77% and negative earnings have accelerated 98%.

7. Doubtful: Ability to Operate

Company filings refer to the failed restructuring centerpiece – the Don Diego application –  and warn: “the April 2016 decision has delayed our expected cash inflows from this project. Therefore, the factors noted above raise doubt about our ability to continue as a going concern.”

Yet OMEX market valuation now is $20 million..  thanks to hope and hype floating on a market misunderstanding of OMEX’s desperate situation… virtually no cash, no salvageable business plan.

*Conclusion:

Any OMEX treasures washed away long ago and this shipwreck is slipping into the deepest, darkest depths. They’re loading the lifeboats, the sharks are swimming and Kevin O’Leary is hollering, “Never cry for money. It doesn’t cry for you.” In our view, the stock goes to zero.

* Important Disclosure: The owners of TheStreetSweeper hold a short position in OMEX and stand to profit on any future declines in the stock price.

* Editor’s Note: As a matter of policy, TheStreetSweeper prohibits members of its editorial team from taking financial positions in the companies that they cover. To contact Sonya Colberg, the author of this story, please send an email to scolberg@thestreetsweeper.org.

[Image Courtesy of Wikipedia]

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CHARLOTTE, N.C., June 06, 2016 (GLOBE NEWSWIRE) — Capital Bank Financial Corp. (Nasdaq:CBF) (the “Company”) announced today that Dave Briggs has joined the Company as Market President and Commercial Banking Executive for Middle Tennessee.  He will work out of the Company’s office in Brentwood, TN. 

Capital Bank’s Chairman and CEO Gene Taylor commented, “The Middle Tennessee region is an important growth market for Capital Bank, and it’s a market where Dave Briggs has a long track record of serving customers and a stellar reputation within the community.  We’re delighted that he’s joining the Capital Bank team in a senior leadership role.”

Briggs previously served at Bank of America, where his 27-year career included growing commercial, private wealth, government, business banking, and consumer relationships in Tennessee and North Carolina.  A cum laude graduate of Western Carolina University, Briggs has held leadership positions in a number of community organizations and currently serves on the board of directors of the Junior Achievement of Middle Tennessee.

Forward-Looking Statements

Information in this press release contains forward-looking statements. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of several factors more fully described under the caption “Risk Factors” in the annual report on Form 10-K and other periodic reports filed by us with the Securities and Exchange Commission. Any or all of our forward-looking statements in this press release may turn out to be inaccurate. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward looking statements including, but not limited to: (1) changes in general economic and financial market conditions; (2) changes in the regulatory environment; (3) economic conditions generally and in the financial services industry; (4) changes in the economy affecting real estate values; (5) our ability to achieve loan and deposit growth; (6) the completion of future acquisitions or business combinations and our ability to integrate any acquired businesses into our business model; (7) projected population and income growth in our targeted market areas; (8) competitive pressures in our markets and industry; (9) our ability to attract and retain key personnel; (10) changes in accounting policies or judgments and (11) volatility and direction of market interest rates and a weakening of the economy which could materially impact credit quality trends and the ability to generate loans. All forward-looking statements are necessarily only estimates of future results, and actual results may differ materially from expectations. You are, therefore, cautioned not to place undue reliance on such statements, which should be read in conjunction with the other cautionary statements that are included elsewhere in this press release. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

About Capital Bank Financial Corp.

Capital Bank Financial Corp. is a bank holding company, formed in 2009 to create a premier regional banking franchise in the southeastern United States. CBF is the parent of Capital Bank Corporation, a State of North Carolina chartered financial institution with $7.5 billion in total assets as of March 31, 2016, and 151 full-service banking offices throughout Florida, North and South Carolina, Tennessee and Virginia. To learn more about Capital Bank Financial Corporation, please visit www.capitalbank-us.com.

CONTACT: CONTACT:
Kenneth A. Posner
Chief of Strategic Planning and Investor Relations
Phone: (212) 399-4020
Kposner@cbfcorp.com

Source: Nasdaq Serv

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Aytu Bioscience Inc (OTCMKTS: AYTU) Recently, the CNA Finance team had an opportunity to speak with Josh Disbrow, CEO of Aytu Bioscience. Josh Disbrow has...