Stock Markets
American Resources refutes false stock issue rumors
FISHERS, IN – American Resources (NASDAQ:) Corporation (NASDAQ:AREC), a supplier of rare earth elements and carbon materials, has publicly denied allegations of issuing equity at a significantly reduced price, as suggested by online speculation. Mark Jensen, CEO of the company, labeled the claims as “entirely false” and harmful to shareholders.
The rumors, which surfaced in online chat rooms, suggested that American Resources was issuing 20 million shares at 48 cents each. The company has taken steps to address the situation by notifying legal counsel and filing a complaint with the SEC and NASDAQ to investigate the misleading posts and their impact on the stock’s trading activity.
Jensen condemned the spread of false information as “nefarious” and “manipulative,” and expressed concern over the practice of naked short selling, urging regulators to investigate such market activities. He emphasized that American Resources is not raising capital at the alleged price and is instead focusing on growth through non-dilutive capital and leveraging its assets and partnerships.
The company, which operates in the Central Appalachian basin, is known for supplying materials for steelmaking and the electrification market, as well as for its environmentally responsible approach. American Resources prides itself on a low-cost business model aimed at scaling operations to meet the demands of the global infrastructure and electrification markets.
Despite the recent distractions caused by the false information, Jensen remains optimistic about the company’s divisions and their positioning in the market, believing that their execution will ultimately reflect in the company’s share price.
This statement comes amidst a volatile period for the stock, as the company seeks to clarify its financial strategies and reassure investors of its commitment to growth without equity dilution. The information in this article is based on a press release statement from American Resources Corporation.
In other recent news, American Resources Corporation has released its first quarter 2024 earnings call, revealing strategic developments. The company plans to spin off its subsidiaries, American Carbon Corporation and ReElement Technology Corporation, by the end of the year. Additionally, American Resources is advancing its expansion into the Jamaican iron ore market and enhancing its refining capabilities.
CEO Mark Jensen emphasized the cost-effectiveness and environmental focus of their refining technology. He also highlighted the company’s acceptance into the Defense Industrial Base Consortium, which allows for defense sector bidding. Jensen also noted that American Resources has invested $20 million in Wyoming project development, with an additional $25 million earmarked for completion and production.
InvestingPro Insights
In light of the recent controversies surrounding American Resources Corporation (NASDAQ:AREC), investors may benefit from a closer look at some key financial metrics and insights from InvestingPro. Despite the company’s efforts to counteract the spread of misleading information, AREC’s financial health and market performance have been areas of concern, according to InvestingPro data and analysis.
InvestingPro Tips highlight that American Resources operates with a significant debt burden and may have trouble making interest payments on its debt. This is particularly relevant as the company emphasizes its focus on growth through non-dilutive capital. Additionally, the stock’s recent performance has been troubling, with an InvestingPro Tip indicating that the stock has taken a significant hit over the last week, which aligns with the volatility mentioned in the company’s statement.
From a data standpoint, AREC’s market capitalization stands at a modest $58.59 million, reflecting the size of the company in the broader market. The P/E Ratio (Adjusted) for the last twelve months as of Q1 2024 is -2.58, suggesting that the company is not profitable during this period. Moreover, the Revenue Growth for the same timeframe shows a sharp decline of -79.7%, underlining the challenges AREC faces in generating sales.
For investors looking to delve deeper into the financials and future prospects of American Resources, there are additional InvestingPro Tips available. These tips provide insights into aspects such as the company’s cash burn rate, gross profit margins, and valuation implications for its free cash flow yield. There are 17 additional tips listed on InvestingPro, which can be accessed to gain a more comprehensive understanding of AREC’s financial position and stock performance.
To explore these insights further, interested investors can take advantage of a special offer on a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24, which grants an additional 10% off.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Stock Markets
BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman
San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.
Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.
Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895
BioAge Labs, Inc. (BIOA) Investigation:
The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”
BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.
This news drove the price of BioAge shares down almost 80% on December 9, 2024.
“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »
Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182
Stock Markets
Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman
CELH Investors with Losses Encouraged to Contact the Firm
San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).
Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.
Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895
Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):
The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:
- Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
- Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
- Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
- Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated
The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.
The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.
These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.
“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180
By Ank Kuipers
PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.
“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.
The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.
Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.
“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.
Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.
In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.
Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.
Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.
Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.
“Thanks to the victims’ relatives and their supporters who never gave up, Bouterse will go down in history as a convicted murderer,” Brody said.
The former president’s family will make a statement later on Wednesday, members of his political party told journalists.
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