Investors seem to be paying close attention to Gold Mining USA Inc (OTCMKTS:GMUI)’s deal to add a revenue contributing asset in Australia to its portfolio. Gold Mining’s CEO, Maurice Byrne, said that Savannah Senior Living Resorts is an attractive asset that would significantly improve their balance sheet. Could this be the stimuli for a potential rally ?
Gold Mining USA Inc (OTCMKTS:GMUI) is also getting financiers to back its acquisitions. The company recently announced than a Costa Rican insurance firm had agreed to back issuance of a guarantee for financial bond of up to $30 million. Gold Mining USA Inc (OTCMKTS:GMUI) needs to add revenue assets to its portfolio considering that its latest available financial statement shows that it generated no revenue in 3Q2015. The company suffered a net loss of $34,000 in the quarter but based on the recent activity in the stock prices it seems GMUI could be getting ready for significant positive turnaround.
Some other stocks that caught our attention are RNVA and GNVC.
Rennova Health Inc (NASDAQ:RNVA) looks to widen scope.
Rennova Health Inc (NASDAQ:RNVA) recently formed a scientific advisory committee. According to the company, the Committee will help it to expand quickly to other areas of diagnostic tests. Some of the testing areas the company is targeting to expand into include diabetes and esoteric. Rennova Health Inc (NASDAQ:RNVA)’s advisory committee consists of board members including Thomas Mendolia, who is chairman of the board, Bernard Manz, Ph.D. and Christopher Mason, Ph.D. among others. Members of the advisory committee bring diverse expertise in medicine and leadership.
GenVec Inc (NASDAQ:GNVC) targets up to $7 million cash burn in 2016.
GenVec Inc (NASDAQ:GNVC) continues with the Phase ½ trial of itsCGF166 in patients suffering from severe hearing loss. The management projects that the trial will complete in 2017 just as was previously expected. During 2015, CGF166 entered dose escalation phase. GenVec Inc (NASDAQ:GNVC)’s bottom-line deteriorated in 4Q2015 as it posted EPS loss of $0.10 compared to EPS profit of $0.11 in a similar quarter in the previous year. Revenue also shrank significantly to just $0.2 million as opposed to $3.5 million a year earlier. The management of GenVec Inc (NASDAQ:GNVC) is now guiding for cash burn of between $6 and $7 million in 2016. Moreover, the management assured that existing resources will be able to generate enough funds to finance operations until 2Q2017.
