| How about your tooth? Sintx Technologies (NASDAQ: SINT) might actually make that possible, though I wouldn't recommend it. I nearly brushed off this promotion since the email stated the sender wasn't compensated for the letter. So, I figured it might just be one of their shlock ideas. But when I found out that their advanced materials have been used in everything from dental implants to vehicle armor, there was no way my inner child would let me pass up the opportunity to check out this company. Sintx Technologies (NASDAQ: SINT) - 1-month trading range: $2.13 - $3.67
- Typical average daily volume: ~1.4 million
- Float: 540,000
Sintx Technologies' Business Sintx is best labeled as an advanced ceramics company. Their products range from biomedical applications to armored vehicles. And it's all thanks to silicon nitrate. Silicon nitride combines strength, durability, and resistance to wear and corrosion, making it ideal for use in harsh environments. Plus, it's biocompatible, meaning it can be safely used in medical devices without causing harm to the human body. That's backed by a strong record of safety and efficacy, with over 40,000 implantations in humans.  Sintx uses its state-of-the-art FDA and ANVISA-registered facility to control all aspects of the manufacturing process in-house. Moreover, the company holds an impressive IP and regulatory portfolio: 15 patents and has 63 patent applications in process, including FDA master files. So let's dig into the fun stuff. The company's ceramic armor offers advanced protection against armor-piercing rounds and is extremely lightweight. It can be used in aerospace, transparent ceramics, vehicle, and body armor.  The company's medical-grade silicon ntirde products can be the ideal biomaterial for replacement and implant surgeries.  Its Flex-SN AP powder can be incorporate into products and fabrics to manufacture surfaces that inactivate bacteria, fungi, and viruses.  The company's technology portfolio includes SN composites, ceramic matrix composites and coatings, and 3D printing. Sintx is working with: - Two major companies on commercial jet ignition systems
- Several companies on RF antennas applications
- Components for high-speed welding with an international OEM for automotive applications. And some exciting events down the pipeline:
- The SLC Armor plant will start up in Q1 2023. In addition, it has several government contracts and grants including:
- Naval Research Laboratory
- High-Efficiency Heat Exchanges
- Missle Defense Agency
- Defense Advanced Research Projects Agency
In the last year, it was awarded three phase 1 grants from NIH totaling $900K for 3D printed composite devices: spine implants, craniomaxillofacial implants, and trauma plates. While this all sounds very promising, the reality is this company hemorrhages money. It has a profit of -1008%...YIKES A big reason - the company sold off its spine implant business in 2018. Although the company has $4.8 million in cash on hand, it's burning through $10 million annually. That's part of why it did a $12 million stock offering back in February. Promoter Activity I came across one promoter who has been pushing the stock for a little more than a week. Here are some of the main catalysts from the promoter: - Fully operational amour facility in Utah as of February 14, 2023.
- Phase I contract for missile defense from U.S. government on December 21, 2022.
- Multi-year DARPA contract for CMC and Turnbine coatings development on October 26, 2022.
- 44% of the float is currently sold short.
- The float is under 1m shares, with a potential short squeeze on the way.
The first three items listed are all relevant, though hardly timely. However, the promotor highlights that the short float percentage has increased by more than 1,000% over the last seven days. And that the overall cost to borrow is 366%, with nearly 100% utilization of the shares available to borrow. They used the website ortex.com to compile those stats on 3/13/23. This is a fascinating argument, given the recent run of short squeezes I've seen on stocks like Genius Brands International (NASDAQ: GNUS). Straight to the Facts One of the hot themes of 2023 is companies fighting against illegal shorts. It appears this latest report from the promoter tries to piggyback off that idea. They are implying that could something that's going on here with Sintx. However, the company has not made a press release relating to that. Shares are well off the $3.67 highs from the last month, sliding hard on the stock offering on February 8th. Since then, volume has been rather tepid. If the company is trying to make a stock offering or is under threat of getting delisted from the Nasdaq, it will most likely need more than this one promoter to get traders' attention. Trading a stock that has less than 300K shares of daily volume is usually difficult. Keep an eye on the volume. Shares could catch a pop if more volume comes into the name. Or if the company issues a press release stating it's investigating shorts. The low float makes it appealing in a traders eyes. But the volume isn't there yet. Believe it or not, this was trading above $70 last July. So it does have room to run with the right catalyst. Always at your service, Baron Von Stocks |
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