On Thursday, Shares of China Auto Logistic Inc. (NASDAQ:CALI), skyrocketed 68.84% to $2.33.
China Auto Logistics, stated that despite important favorable developments in its Auto Sales and Financing Services businesses in the year ended December 31, 2014, several factors contributed to a substantial full year loss and a going concern opinion comprised of in the Company’s Report of Independent Registered Public Accounting Firm.
The full year loss attributable to shareholders in 2014 of $26,863,297, comprised of interest expense of $6,657,368, depreciation and amortization of $2,623,825, and an impairment loss of $3,003,809 regarding the Airport International Auto Mall attained by the Company in November, 2013, and a goodwill impairment charge of $16,041,383 regarding the acquisition. The 2014 full year loss was incurred on net revenue of $402,269,611, which was down 12.4% from a year earlier. In 2013, the Company stated full year net income attributable to shareholders of $524,260.
According to the Company, a primary contributor to the 2014 operating loss was a decrease in sales, in part due to the slowdown in China’s economy and ongoing competition in luxury auto sales. In addition, as noted above, the Company recorded sharp rises in interest expense and depreciation stemming from the acquisition of the Auto Mall. Payments made during the year for the acquisition also contributed to a working capital deficit in 2014 of $7,298,690.
China Auto Logistics Inc. sells and trades in imported automobiles in the People’s Republic of China. It operates through six segments: Sales of Automobiles, Financing Services, Web-Based Advertising Services, Automobile Value Added Services, Airport Auto Mall Automotive Services, and Auto Mall Administration Services.
Shares of SCYNEXIS, Inc. (NASDAQ:SCYX), surged 29.74% to $9.99, during its last trading session.
SCYNEXIS, declared the pricing of its underwritten public offering of 4,675,324 shares of its common stock at a public offering price of $7.70 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by SCYNEXIS. In addition, SCYNEXIS has granted the underwriters a 30-day option to purchase up to an additional 701,298 shares of common stock at the public offering price less the underwriting discounts and commissions to cover over-allotments, if any.
RBC Capital Markets and Canaccord Genuity are acting as joint book-running managers on the transaction. In addition, JMP Securities is acting as lead manager and Needham & Company is participating as co-manager in the offering.
SCYNEXIS, Inc., a pharmaceutical company, engages in the discovery, development, and commercialization of anti-infectives to address unmet therapeutic needs. It is developing its lead product candidate, SCY-078, a novel oral drug that is in Phase II clinical trials; and an intravenous (IV) drug, which is conducting pre-clinical studies for the treatment of serious and life-threatening invasive fungal infections in humans against a range of Candida and Aspergillus fungal species, counting drug resistant strains.
At the end of Thursday’s trade, Shares of Sphere 3D Corp. (NASDAQ:ANY), soared 28.23% to $4.27.
Sphere 3D, declared that in partnership with Microsoft, the company will showcase its technologies and product solutions during a joint global partner roadshow that will be hosted at multiple Microsoft Technology Center (MTCs) locations. During these events, Sphere 3D will present its cloud-enabling technologies, counting Glassware 2.0 Windows container technology for application delivery, and virtualized storage technologies for enterprise hybrid cloud infrastructure, to a combined audience of Microsoft and Sphere 3D channel partners.
Sphere 3D and Microsoft have confirmed the plan for the events at the Microsoft Technology Center in Silicon Valley/Mt. View, CA on May 20, 2015, and in New York on May 27, 2015. Dates for the events in London and Toronto will be declared shortly.
Sphere 3D Corp. provides virtualization technology and data administration solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It enables the integration of virtual applications, virtual desktops, and storage into workflow; and allows organizations to deploy a combination of public, private, or hybrid cloud strategies.
Finally, Altisource Portfolio Solutions S.A. (NASDAQ:ASPS), ended its last trade with 24.41% boost, and closed at $22.48.
Altisource Portfolio Solutions, stated financial results for the first quarter 2015.
First Quarter 2015 Results Contrast to First Quarter 2014:
- Service revenue of $207.8 million, a 1% decrease.
- Net income attributable to Altisource of $3.7 million, a 91% decrease.
- Adjusted net income attributable to Altisource(1) of $11.8 million, a 76% decrease.
- Diluted earnings per share of $0.18, an 89% decrease.
- Adjusted diluted earnings per share(1) of $0.56, a 72% decrease.
First quarter 2015 highlights comprise:
- The average number of loans serviced by Ocwen on REALServicing(R) was 2.4 million for the first quarter of 2015, an enhance of 27% contrast to the first quarter 2014,
- The number of houses sold through Hubzu(R) was 8,305 for the first quarter 2015, an enhance of 24% contrast to the first quarter in 2014.
Altisource Portfolio Solutions S.A. operates as a marketplace and transaction solutions provider for the real estate, mortgage, and consumer debt industries in the United States. Its Mortgage Services segment offers services that span the mortgage and real estate lifecycle outsourced by loan servicers, loan originators, investors, and other sellers of single family homes.
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