EKIMAS CORPORATION (ASNB) research, news, and more from GeoInvesting

Company description

Mon, 19 Oct 2015 15:24:14 GMT

AdvanSource Biomaterials Corporation develops polymer materials for use in the design and development of medical devices used for treating a range of anatomical sites and disease states. It offers polymers under the ChronoFilm, ChronoFlex, ChronoThane, ChronoPrene, ChronoSil, HydroThane, HydroMed, and PolyBlend trade names. The company also manufactures specialty hydrophilic polyurethanes. The company sells its products directly to the customers in the United States. The company was formerly known as CardioTech International, Inc. and changed its name to AdvanSource Biomaterials Corporation in October 2008. AdvanSource Biomaterials Corporation was founded in 1993 and is headquartered in Wilmington, Massachusetts.

Research

Tue, 03 Jul 2018 14:18:36 GMT

Advansource Biomaterials (OOTC:ASNB) ($0.09; 2.0M market cap) , a company that develops polymer materials for use in the design and development of medical devices, is back on our watch due to its NT 10-K filing which indicates strong Q4 results, brought to our attention to GeoMember, Andrew Garner.

Sales of $0.93 million vs $0.49 million in the prior year
EPS of $0.01 vs loss of $0.01

We have a history with ASNB. On November 17, 2015 we stated we were building a small speculative position when the stock was trading at $0.17. GeoContributor W. Xion’s article, coupled with strong Q2 2016 results, was the reason for our original interest. Within weeks, the Company announced it had engaged an investment bank to explore strategic alternatives, pushing shares to $0.41 on January 12, 2016. Nothing ever came of the strategic review and it turned out that the strong Q2 result was the result of a large order. We closed out our long position in April 2016, near breakeven.

With a lack of news and subpar operating results, shares slipped back to lows. In early 2017, the company announced a strategic alliance with Medibrane, a leading Israeli coating technology company. Shares have been relatively dormant since the run in 2016. The next 10-K will hopefully give more clarity on this past fiscal year and insights into the coming year. The company has a history of occasional outlier quarters. However, we still like what the company does so we will continue to monitor any developments that deal with expanding its customer base.

Research

Fri, 27 Jan 2017 16:54:45 GMT

ASNB ($0.07) - We are once again keeping a close eye on speculative play ASNB. On November 17, 2015 westated we were building a small speculative position in ASNB when the stock was trading at $0.17. GeoContributor W. Xion’s article, coupled with strong Q2 2016 results, originally piqued our interest. Within weeks, the Company announced it had engaged an investment bank to explore strategic alternatives pushing, shares to a new high of $0.41 on January 12, 2016. We closed out our long position in April 2016 near breakeven.

With a lack of news and subpar operating results, shares have slipped back to near lows. After 13 months of no news, on January 25, 2017 ASNB announced it has formed a strategic alliance with:

“Medibrane, a leading Israeli coating technology company. The Strategic Alliance provides for technology collaboration, development and commercialization of medical coatings using our material technologies in collaboration with Medibrane’s coating and surface modification technologies and enhancements.”

Research

Wed, 20 Apr 2016 04:00:00 GMT

Closed Our Small Speculative Position In ASNB

On November 17, 2015 we stated we were building a small speculative position in $ASNB ($0.15) when the stock was trading at $0.17. ASNB develops polymer materials for use in the design and development of medical devices used for treating a range of anatomical sites and disease states. A contributor's article coupled with strong Q2 2016results is what piqued our interest in ASNB. In its Q2 2016 the Company reported:

Sales of $1.04 million vs $0.55 million in the prior year period
EPS of $0.01 vs a loss of $0.01 in the prior year

At that time it marked the third consecutive profitable quarter and the first time in in 9 years the company has posted back to back quarters with top line sales over a million. Within weeks the Company announced two more bullish catalyst pushing shares to new high of $0.41 on January 12, 2016.

December 3, 2015 the Company announced it had engaged an investment bank to provide guidance and assess strategic alternatives.
December 8, 2015 the Company announced a multi-year supply agreement with a prominent healthcare OEM.

With no updates on the strategic alternative initiative and sub-par Q3 2016results reported on February 12, 2016 shares have been on a steady decline. One of the issues we have had with ASNB in the past is its inability to sustain positive business momentum. The company has a large customer concentration which has historically led to volatile financial results. Still, we think the stock is an interesting long-term play as it attempts to diversify its customer base and find new applications for its product. We will continue to track the story carefully for further updates. Specifically, we will monitor insider buying activity from management. We would like to get back in the stock at some point in the near future.

Maximization of Shareholder Value

Thu, 03 Dec 2015 16:10:36 GMT

AdvanSource Biomaterials Corporation (ASNB), a leading developer of advanced polymer materials for a broad range of medical devices, today announced the engagement of Mirus Securities Inc. (“Mirus”). Mirus, an investment bank located in the metropolitan Boston area with in-depth experience within the med-tech manufacturing space, has been engaged for the purpose of providing guidance and assessing strategic alternatives.

Research

Tue, 17 Nov 2015 18:25:05 GMT

Building A Small Speculative Position In $ASNB ($0.17)

ASNB filed a10-Q for Q2 2016:

Sales of $1.04 million vs $0.55 million in the prior year period
EPS of $0.01 vs a loss of $0.01 in the prior year

The company has yet to issue a press release highlighting the quarterly results. This marks the third consecutive profitable quarter and the first time in in 9 years the company has posted back to back quarters with top line sales over a million. On October 19, 2015 we stated we were beginning our due diligence on ASNB after it was brought to our attention by one of our contributors. For a background on the company we encourage members to read W. Xion article, “AdvanSource Biomaterials - A Pure Play on Medical Polymers”.

Research

Mon, 19 Oct 2015 15:23:30 GMT

Beginning Our Due Diligence On ASNB ($0.17)

One of our premium members and idea contributors, William Xion, has alerted our team to a potential opportunity. ASNB develops polymer materials for use in the design and development of medical devices used for treating a range of anatomical sites and disease states. We may look to establish a small speculative long position after we perform further due diligence. ASNB has reported two consecutive profitable quarters and its recent Q1 2016 sales were the strongest since 2008. ASNBreported Q1 2016 results on August 20, 2015:

Sales of $1.17 million vs $621,000 in the prior year period
EPS of $0.02 vs a loss of $0.01 in the prior year

Quotes from management:

“We are pleased with our financial performance during this recently completed quarter. We have stabilized our financial position and strengthened our cash position. We are grateful for the hard work of our employees, the continued acceptance of our products and technology by our customers and business partners, and the loyalty of our shareholders.”

We will attempt to set up an interview management to gain more color into the story and to determine if the positive trends established over the last two quarters are sustainable setting the stage for consistent growth. One thing that caught our attention is that the company was posting losses when it was generating quarterly revenue in excess of $1 million in 2008. So margins appear to be in a much healthier position.

William iscontinuing to contribute to our portal and has submitted a few articles, his last ones being on $LMDCF and $EACO.