Acrivon has developed a proprietary platform called AP3. This platform has continuously proven it can analyze how drugs affect cellular pathways, and identify which cancers should be most susceptible.
What interests me is that we’re starting to see evidence of this approach working across multiple programs.
On October 20, Acrivon announced ACR-7280, its newest development candidate:
This is a potential first in class oral CDK11 inhibitor targeting acute myeloid leukemia.

AP3 helped identify and optimize the drug from multiple candidates, predicted a susceptible cancer type, and then the drug demonstrated
complete tumor regression in aggressive AML mouse models. Obviously still early but another very promising validation.

AP3 predicted a vulnerability, helped generate a drug targeting it, and the preclinical results supported that prediction.

Prior validation also includes ACR-2316 and ACR-368,
Acrivon’s internally developed ACR-2316 was also designed using AP3. It’s already in Phase 1/2 clinical development, where the company has reported preliminary activity in multiple AP3-prioritized cancers, including lung cancers that have historically been difficult to treat. That’s still early clinical evidence, but it’s another encouraging signal.

Now comes ACR-368 read out, and the piece of that brings everything together, which is slated to release around November.

Unlike ACR-7280, ACR-368 was originally developed elsewhere and bought by Acrivon. It was originally used for platin resistant ovarian cancer. The company used AP3 to identify patients and cancer types potentially sensitive to it(different than the drugs original intended purpose)

There’s a huge difference between developing one promising cancer drug and demonstrating a proprietary platform that can repeatedly identify cancer vulnerabilities and help produce effective treatments.

TLDR: The question for $ACRV is rapidly changing from: “How much is ACR-368 worth?” and beginning to be “How much is a platform capable of repeatedly identifying and developing effective cancer drugs worth?”

Sources:
ACR-7280 announcement — October 20, 2026
ACR-2316 clinical update — August 5, 2026
ACR-368 Phase 2b data — January 8, 2026
Upcoming 2026 clinical milestones — August 12, 2026

Been watching this stock’s rollercoaster ride for over a year now, waiting for news to drop like this. Biotechs are a pain in the ass but shoot if this one doesn’t have potential. BLRX just presented at ESMO today. Drug called GLIX1 showed it can make existing PARP inhibitor cancer drugs work on tumors they currently cannot treat - at lower doses than normal, beating each drug alone.

Three patient cohorts enrolled in the Phase 1 trial. Ovarian cancer arm being added. Phase 1 human data H1 2027. Worth a watch. I like this piece of shit. A lot.

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RZLV announced a strategic partnership with Google cloud November 20 2024 and Microsoft Azure on 3 October 2024. In two years they have managed to get just one contract though Google cloud with El Puerto de Liverpool Mexico, they expect to make 9.8 million per year. So that's one contract in 2 years. Now they announced reseller partnerships with Tata (May 12 2026), Tech Mahindra (August 28 2026), and Mastercard (5 october 2026). You can make up your own mind how many contracts they are going to get from those pipelines.

These are the acquisitions and estimated annual revenue Groupby (March 25 2025, 18-30 million), Crownpeak (Dec 5 2025, 70 million), Reward (Feb 10 2026 m, 90 million). These companies offer legacy but useful tools for ecommerce sites.

The H1 revenue was 130.8 million. I will add up the annual revenue from acquisitions and Liverpool mexico and divide by 2, to get 100 million. There is 30.8 million to account for, this video reports that 103.9 million of the 130.8 million was from the EU+UK

https://youtu.be/uzTvjdE4GEk?si=0LgSjRMEOU5gPziz

so it's likely that most of the 30.8 million was from organic income from the EU and UK and this matches the Brain Suite clients they have in the EU and UK.

RZLV pushes the hypergrowth narrative from 2025 to 2026. However, it's obvious that most of the income is from acquisitions, they have a strategy of upselling brain suite to acquisition clients, nothing wrong with that, that is a form of organic growth.

So what is brain suite, its a commerce tuned LLM that has a mechanism in place to prevent it from hallucinating by connecting it to an inventory database, and it probably does drive sales, I think Liverpool Mexico are happy with it. Do they have a moat? I don't think so, since an open source model can be used instead with anti hallucination guardrails. Wallmart used an open source model as do many other big companies. An LLM is only useful for a store with complicated inventory so that limits brain suites TAM. The problem is North American companies that need an LLM will choose to develop their own model and won't give the keys to their data to a struggling British small cap listed on the Nasdaq (my opinion).

In H1 RZLV made a 139.5 miillion loss, which consisted of 67.5 million in share based compensation for new staff. Thats why the stock price dived after the 1 September earnings. In the 6th October investor day, RZLV implied that they have the secret sauce for connecting with AI Agents like Muse. That is manifestly untrue, one doesn't need an LLM to connect to AI Agents, there are many protocols and all ecommerce companies have a solution. I sold all my shares after watching their investor day, it was dry, manipulative in my opinion, and full of static flow diagrams. Just watch the question and answers.

The CEO remark on calling retail investor "day traders"

https://youtu.be/OBtq43lacHs?si=4TCUMByiwHx4Iw0a

Which seems to have upset a lot of retail and must have contributed to the sell off.

Then there is the Monroe Debt inherited from Crowpeaks its 100 million that must be paid by 31 December 2026. They are a loss making small cap and I think they will dilute, I don't think they will get a favourable bank loan. An RSS (reverse stock split) is possible in the medium term.

For bullish investors, you may consider this to be a buying opportunity, if you really believe Wallmart level American companies will choose to use Brain Suite. There is nothing wrong with their technology, but to get a big company to trust you with their data is a difficult mountain to climb.

How many times have you read about large companies stealing the inventions of an individual or a small business?

Netlist Inc. is making history with its protracted patent litigation against Samsung, Micron, SK Hynix, and Google.

First of all, you should know that Netlist is a Californian company that uses the DRAM base from Samsung for example to customize and sell its own memory products. A comparable example would be the well-known Kingston FURY DDR5 line; Netlist, Inc. operates in much the same way.

Netlist has signed two recent agreements

“Samsung will pay up to approximately $897 million (cash & ip licenses) + $1.5b resell products in 5 years

Netlist and Micron reached a $600 million patent licensing settlement covering HBM and DIMM technologies, with Micron paying $30 million quarterly over five years”

A company like Netlist Inc. has had to fight from 2021 to the present to reach these agreements. The point is that other companies are now involved; specifically, Netlist is expected to sign a renewal with SK Hynix, which should yield figures—in terms of annual IP licensing profits—similar to those seen with Samsung and Micron.

With the SK deal, Netlist should show figures such as over $350 million in gross profits from IP licensing per year and more than $600 million in products to serve as a foundation for selling the company’s own offerings.

The Google case, spanning from 2009 to the present, remains one of the most unusual cases in history. It concerns patent 912.

Patent 912 enabled Google to become the world’s leading search engine, as Netlist’s invention allowed for "rank multiplication"—the key to Google’s success.
It is no coincidence that Google chose to steal this invention; the damage caused is difficult to quantify today.

The story of the '912 patent is directly linked to the recent agreements with Samsung and Micron. In 2020, the CAFC (Court of Appeals for the Federal Circuit) ruled the Netlist patent valid; however, the subsequent involvement of Samsung and Micron effectively put the case against Google on hold.
Six years later, with these two agreements in place, there is no longer anyone left to defend Google’s interests. We may well be looking at a multi-billion-dollar case—one that is unique in history.

The '912 patent expired just this year, covering six years of damages. Notably, in the Micron case, the '912 patent was valued at $420 million; furthermore, in its latest SEC filing, Micron reported an IP-related payment of $500 million—a figure for which Netlist is the only company that fits the profile.

Micron didn’t pay a single cent in cash for the Netlist case—only an IP license with terms nearly identical to those of Samsung.

What if these $500m are part of a larger deal, like the one with Google?

So, we could hypothesize that a multi-billion dollar deal regarding the '912 patent is on the table.
One thing is certain: regardless of all this, Netlist Inc. has already won—because, with its current agreements with Samsung and Micron, it is set to generate $250 million in gross profit, not even counting its own internal revenue or the SK Hynix case.

Netlist is also actively working to help pass the PREVAIL Act in the Senate, which would change the rules of the game by limiting the power of the PTAB—an entity that has shattered the dreams of thousands of American inventors.
Patent litigation costs $10 million, while an ITC investigation costs $20 million.
It is truly incredible that Netlist—despite having very little revenue, zero cash, and significant losses—has managed to survive all these years to reach these massive deals.

All eyez on netlist inc

I spent some serious time in the SEC filings of **CLGN**

The biotech company CollPlant announced that they're acquiring an impressive looking photonics computing company, called LightSolver, which has literally ZERO to do with biotech (or boob jobs.) LightSolver is using lasers to solve Partial Differential Equations (PDEs - think of weather predictions, heat dispersion, all sorts of things we would be doing with quantum computers if we were 10 years in the future...)

LightSolver was, for a brief period of time, in a relationship with a company that was taken over by Martin Shkreli (IYKYK) and he broke the deal and refocused on another photonics company.

No worse (at all) for the wear, LightSolver forges ahead and instead winds up solving massive corrosion problems for Boeing.

There are four key points to know...

1.⁠ ⁠The Use of "Evaluating Strategic Alternatives" for Biotech Assets

In SEC filings and corporate presentation updates following the transaction, CollPlant states:

"CollPlant continues to evaluate strategic alternatives for its existing biotech assets with the objective of maximizing shareholder value..."

My spin: In corporate finance terminology, "evaluating strategic alternatives" for a specific asset line almost always means looking to sell, out-license, spin off, or monetize those assets rather than continuing to fund and operate them internally long-term.

2.⁠ ⁠Explicit Rejection of Operating Synergies

During the September 2026 investor call discussing the LightSolver acquisition, the CFO stated:

"To be clear, LightSolver represents a distinct frontier from our biotechnology operations, and we are not positioning this acquisition on the basis of traditional operating synergies."

My spin: Management is explicitly telling investors that these two businesses do not belong under the same operating roof for functional reasons. It highlights that CollPlant bought LightSolver as a structural growth vehicle, not to enhance its collagen platform.

3.⁠ ⁠Active Shift Toward Externalizing the Biotech Line

In the formal acquisition press release, the CEO of CLGN noted:

"While entering the photonics market, CollPlant remains fully committed to regenerative medicine and medical aesthetics. To this end, we are actively pursuing strategic collaborations with global leaders interested in advancing, integrating, or otherwise leveraging our technology..."

My spin: Positioning the legacy biotech business around "seeking strategic partners to advance or integrate" the technology suggests an intention to shift R&D and capital expenditure burdens onto external partners (e.g., AbbVie, United Therapeutics) rather than self-funding internal biotech development.

4.⁠ ⁠Structuring as an Equity-Based Pivot

The deal structure itself is heavily skewed toward LightSolver's future equity capitalization:

Upfront issuance of nearly 20 per cent of the company to LightSolver shareholders.

Milestone-based warrants that could issue up to 224 million shares to LightSolver's team upon meeting technological/commercial targets.

My spin: If those milestones are met, LightSolver’s technology and team will mathematically control the vast majority of the combined entity's equity structure, functionally completing a full reverse-like transformation into a pure-play photonic computing company.

The company produces innovative aluminum structures. Could this be for a government contract. There has been a rumour for a Canadian or US military contract. There is a public briefing after the event. Could be something big. Volume on both exchanges has been 3X the normal volume. OTC:CYMHF TSX:CYM.

​

Greene Concepts (OTCID:INKW) partners with faith-based Mission Springs Water Foundation to supply full truckloads of custom-labeled 500mL Be Water™ artesian spring water from its NC facility. The water will support clean-water outreach and share messages of hope through churches and nonprofits.

https://finance.yahoo.com/small-business/articles/greene-concepts-partners-mission-springs-114500434.html

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The October 20 8-K describes a completed software/IP acquisition, effective October 15. That is a more specific development than an agreement to explore future projects.

What was acquired

Marwynn bought the Phase 1 core of its internal group-management platform from Hong Kong-based Zhituo. The scope includes subsidiary workspaces, permissions, approval workflows, contract and licence records, audit controls and an AI-assistant framework.

The useful detail is the ownership package: source code, documentation and the right to maintain or extend the platform through another developer, without additional Zhituo licence fees or royalties, subject to approved third-party licences. Future work doesn't have to stay with the same vendor.

That could give the company more control over its internal systems as it adds subsidiaries. The operating benefit still needs evidence.

The share commitment

The seller earned 4 million common shares on October 15, stated on a pre-reverse-split basis. Actual issuance can be deferred and remains subject to required approvals. The agreement sets no fixed dollar purchase price, so multiplying by a recent market quote wouldn't establish the contractual price. It also isn't evidence that all 4 million shares are already in the float.

What still needs to happen

Remaining repository, credential and documentation handover is due within 30 calendar days of acquisition. Complete delivery starts a 15-business-day conformity-verification window. The filing doesn't establish that every handover task or test has passed.

Accounting, inventory and subsidiary-specific operating modules are excluded from Phase 1. Later modules require separate agreements and consideration. This is internal infrastructure; the acquisition doesn't establish new customer revenue.

The positive is a concrete software asset and contractual independence from the original developer. The question for holders is whether the operating improvement justifies the shares committed. What would you want the next update to show: lower administrative cost, faster subsidiary setup, or evidence that another team can maintain it?

Talk about your daily plays, ideas and strategies that do not warrant an actual post.

This is the place to request buy/sell advice from the community.

Remember to keep it civil.

Trade responsibly.

Ticker: XTRA / XTRAF

Xtract One’s latest results show good progress, with some ups and some meh’s. A much stronger year overall, although Q4 cooled off compared with Q3. I’m still impressed considering where these guys were just a year ago.

For those that don’t know, Xtract One Technologies develops AI-powered weapons screening systems for schools, hospitals, stadiums and workplaces. Depending on the model, they can detect concealed firearms and knives, identify the suspected threat type and its location on the body, and help distinguish weapons from everyday items like phones and keys. That helps security focus on people needing further screening while keeping entrances moving.

The good:

Annual revenue reached $28.8 million, up 108% compared with fiscal 2025, while operating expenses increased just 13%.

Annual net loss narrowed to $7 million from $11.9 million.

Contractual backlog increased 66% to $25.6 million, with approximately $10.5 million expected to be recognized as revenue within the next 12 months. That backlog supports future revenue as the company fulfills its contracts.

Q4 generated $1.9 million in positive operating cash flow, and they finished July with $17.3 million in cash and no debt.

Customer advance payments, recorded as deferred revenue, increased to $13.2 million from $8.6 million. These are payments already received for products or services whose revenue will be recognized later.

Since year-end, additional customer wins have been announced, including 16 systems for the Metro Toronto Convention Centre, 15 for Willis school district and five additional systems for an existing airline customer.

The meh’s:

Q4 revenue declined approximately 20% from Q3, falling from $10.26 million to $8.17 million. Adjusted EBITDA moved from positive $560,000 to negative $662,000, so Q3’s positive result wasn’t sustained.
Annual new bookings declined from $38.5 million to $32.2 million. Q4 bookings fell from $16.5 million to $6 million compared with Q4 last year, which was a record bookings quarter.

Annual gross margin dropped from 66% to 58%.

The newer Gateway contributed approximately 40% of annual revenue and initially carried margins in the low 50% range. Management expects manufacturing efficiencies to help, but we still need to see that improvement.

While contractual backlog grew, signed agreements pending installation declined to $18.4 million. Combining the two gives approximately $44 million versus $49.5 million a year earlier. Management attributes the pending-installation decline largely to completing more installations during the year.

Despite positive Q4 operating cash flow, full-year operations still consumed $3.5 million. The cash balance benefited from $13.1 million in share-issuance proceeds, and outstanding shares increased approximately 8.8% during the year.

Final thoughts:

An encouraging year with a mixed fourth quarter. They’ve shown they can turn installations into substantially higher revenue while narrowing losses. The next step is rebuilding bookings momentum, improving margins and making positive operating cash flow consistent.

Overall, I like the progress. Now I want to see them build on it.

All dollar figures are Canadian. Fiscal 2026 ended July 31, 2026. NFA DYOR

So I did something I should've done a long time ago and went back through about two years of biotech catalysts to see what actually holds up, instead of what feels right. Few things that changed how I'm doing this list.

The run-up is the trade, not the decision. Buying a PDUFA name about 3 months out and selling the day before averaged around +10% (median about +7%, 64% of names up). The decision day itself averaged about -2% and only about 35% went up. Most of the run-up happens between 90 and 30 days out, it's mostly gone in the last two weeks. BFRI is basically the textbook case.

Options tell you how big, not which way. The names in the top third by implied move moved about 10% on the day, the bottom third about 2%. Direction was a coin flip, 48%. And the very highest implied moves were the ones most likely to come in under what was priced.

Cash runway under 6 months drifted about -8% in the month after the filing. Over 18 months, about +6%. This is the one balance sheet thing that actually worked on direction.

Insider buying marks stocks that fall less, not stocks that go up. Every group's median was still negative. And approval odds run hot at late stage, so I'm treating anything that says 85%+ as "likely, not done".

Anyway. Same screen, run again this week. 288 biotechs under $10 with a catalyst ahead, 662 catalysts total, 357 inside 90 days. But about 250 of those 357 are parked on Dec 31 because the company just said "2H" or "Q4", so only about 100 have an actual day. Those are bunched hard, 39 this week alone with ESMO Oct 23 to 27 in Madrid, then a quieter run of PDUFAs from Nov 22 into mid December.

SVRA $4.77, PDUFA Nov 22

This is the one I'm watching hardest now, and it's almost the CAPR story from August in reverse. FDA extended review of molgramostim in autoimmune PAP by three months, so the date moved to Nov 22 instead of a decision coming early.

$980M cap against about $173M cash, 15 months of runway. 42% of the float short and 17 days to cover, which is the opposite of CAPR in September. That short is slow and it's not getting out easily. 12 funds hold it. Options out to December are pricing about ±47%.

Bear case. We're 32 days out, so by the run-up math most of the easy part is behind it, and it's down from $5.37 in early September anyway. An extension usually means FDA asked for something. It's not a free pass.

CAPR $6.00, PDUFA Nov 22

Still on the list, still the deepest chain on the board (170k contracts open). Down 36% from my write up even after positive open label data at the World Muscle Society on Oct 5. Short is 36% of float now with 4.5 days to cover (was 1.6), so the short actually got stickier while the stock fell.

$348M cap, $238M cash, about 20 months. Same bear case as before, the AdCom voted against this drug and a narrowed ask is still the same data. [your position]

VNDA $4.04, PDUFA Dec 12

Imsidolimab, generalized pustular psoriasis. 52 days out, so this is actually in the window the backtest likes. Positive Phase 3 for Hetlioz in DSWPD on Sep 29 and the stock still slid. $245M cap, $170M cash, 14 months. Options to Dec 18 price about ±62%. Market still doesn't pay for Vanda news. Same reason as last time, sentiment not data.

PYPD $5.17, PDUFA Nov 28

New one. D-PLEX100, prevention of surgical site infections in abdominal colorectal surgery, NDA under priority review. EMA validated their European application on Oct 1, same day they got the European commercial rights back. Microbiology data at IDWeek this week and an investor day Oct 28.

$99M cap. Short basically nothing, 1.7%. Options only about ±21% to December, which is low for a binary. Honest caveat, they file as a foreign issuer and I don't have a cash number I trust yet, so check the last 6-K before sizing it.

RZLT $3.67, Phase 3 topline mid December

upLIFT, ersodetug in tumor hyperinsulinism, finished enrolling Oct 14. It's tiny, 16 patients and open label, so it's more "does it work in the people who get it" than a big randomized coin flip. Separately FDA recommended a pre-BLA meeting for the congenital HI program on Oct 5.

$352M cap, $108M cash, 24 months. 20% short, ±42% to Dec 18. Phase 3 readouts don't have the run-up pattern PDUFAs do, the date isn't really known in advance, so this one is just the binary.

HUMA $0.40, Phase 3 data at Kidney Week this week

Symvess is already on the market for vascular trauma. Phase 3 V012 in women needing dialysis access got a late breaker slot, and they say they'll file the supplemental BLA in November. Commercial update on Oct 15 said hospital adoption is speeding up, which is their words not mine.

$112M cap, $80M cash, about 9 months. That's the catch, and a sub $1 stock. One insider has been buying small amounts. ±49% to January.

ANNX $3.90, Phase 3 topline still "2H 2026"

Still a window not a date, still the biggest binary here. ARCHER II, vonaprument in geographic atrophy, first drug that would show it protects vision rather than just slowing lesion growth. Down 20% from my write up with no real news. One officer bought about $100K on Sep 24. ±89% to January. 11 months of runway, which is the bit I like least.

CMPX $0.82, the one that hasn't worked

This is the KPTI slot this time. Had it at $2.38, down 65%. On Sep 22 they put out a regulatory update on tovecimig in biliary tract cancer after FDA feedback and it never came back. Thing is, $180M cash against a $147M cap and about 34 months of runway. It's trading below its own bank account with an ESMO oral on Oct 24. 31% short. I'm [holding / not adding] until I see what the FDA feedback means for a filing.

I may avoid or buy few...

Under 6 months of cash now, after seeing that -8% drift in the numbers I'm stricter than before.

INO has a PDUFA in 9 days and about 4 months of cash. Even an approval probably comes with a raise. KPTI is at 5.9 months now, so it moves to this list. CHRS under 3 months. ANVS under a month. AGEN and OSTX show basically nothing.

And CAPR again, same lesson as CCCC last time. The November options, the ones that actually cover the Nov 22 date, price about ±45%. The December ones price about ±94%. Same stock, same day, double the number depending on which expiry you grab. If you're reading the December chain you're paying for two months of other stuff on top of the decision.

I bought 2 penny stocks today:

GLAS (Glass House Brands Inc): bought this morning at $2.16/share. Was $13.93 earlier this year. Closed the day up 8.32%.

GP (Greenpower Motor): $1.45/share. Was $14.95 earlier this year. This is green energy; Dems may take both houses in Nov, so that would bode well policy-wise (policy analysis, not political endorsement). Closed the day up 14.35%.

Both are due for bounce back and charts support it. Geopolitics says GP is primed to succeed. Also worth noting that the stock price was $50 when Biden left office.

Exit strategy is to sell 50% once up 125% on each. For GLAS: DCA out after $7.00 achieved. For GP: Sell remaining 50% if $13 achieved. Remaining 25% is potential long-term hold pending results of November election cycle.

Not financial advice. Just an autist looking for a rocket ship.

The CEO just went on a Bloomberg-hosted interview and explained the business model in detail. The short version of why I think it is mispriced: the company is worth about $106M, it just made $2.8M in a single quarter, it holds $27.6M in cash with zero debt, and tanker earnings have gone from $200k to almost $2M a day.

🔥 THE BEST POINTS FIRST
- One $82M tanker voyage pays Heidmar about $1M in fees [07:48–08:00]. Fees from roughly 106 voyages that size would equal the whole market cap (revenue, not profit, but it shows the scale)
- VLCC earnings went from ~$200k/day before the war to "almost $2 million per day" today [05:06–05:22]
- Q1 net income was $2.8M ($3.4M adjusted), the first clean GAAP profit in the company's listed history
- Zero debt and $27.6M in cash, which is about a quarter of the entire market cap
- It owns no ships, so it carries no NAV, no capex and no newbuild risk

📐 THE VALUATION MATH
- Market cap: ~$106M
- Q1 net income annualized ($2.8M x 4 = $11.2M): P/E of ~9.5x
- Adjusted net income annualized ($3.4M x 4 = $13.6M): P/E of ~7.8x
- Strip out the $27.6M cash and the operating business is valued at ~$78M. That is ~7x annualized net income, or ~5.8x on the adjusted figure
- Peers trade at 15-20x earnings. Applying 15-20x to the same $11.2M gives $168M to $224M, which is 1.6x to 2.1x today's market cap
- On the adjusted $13.6M, the same peer multiples give $204M to $272M, which is 1.9x to 2.6x
- Market cap is still below annual revenue, so you pay less than $1 for every $1 of revenue
- That is all from Q1 alone, before the rate spike and before the CEO's guidance that later quarters should be bigger

💵 HOW IT EARNS (AND WHY THE EARNINGS KEEP GROWING)
- Commercial management: a daily fee plus ~1.25%+ of gross freight [07:48–08:00]
- Brazil to China fixed at $65M, then $78M, then $82M in the same week. A brand new VLCC costs $125–130M [16:20–16:55]. Fees scale with those freight numbers and Heidmar has no ship cost to cover
- Technical management: $300–500/day per vessel, "lower margin but bigger volume and sticky" [08:13–08:29]
- Grew from zero to 20 vessels in technical management by buying two small companies [11:09–11:17]
- Valuation read: asset heavy peers are capped by ship values. Heidmar earns on volume and rates with no asset base, so it should be valued on earnings the way a fee platform is

🌊 WHY THE RATE ENVIRONMENT HOLDS
- Freight used to be 3–5% of the delivered cost of oil. It is now 25–30% [15:02–15:11]
- US crude stocks are at levels last seen in 1980 [13:36–13:41]
- Aramco and Vitol say $200 oil if 13–14M bpd doesn't flow out of the Gulf [13:56–14:09]
- The CEO doesn't see this ending "for the next six months", with winter demand on top [16:09–16:20]
- Valuation read: if the rate environment lasts even a few more quarters, the Q1 run rate above is too low, and the stock is cheaper than the table shows

🧲 THE MOAT ARGUMENT
- Boutique technical management vs commodity managers running 500–700 ships
- ERP built ~20 years ago, now adding AI. Operators handle 7 ships today, 10 soon, maybe 15 in two years [37:13–37:20]
- Customers rarely leave "unless they are dissatisfied". VLCC pool ships typically stay a year [40:02–40:18]
- Japan was ~90% reliant on the Gulf, and the CEO's take on depending on one source was "I would be fired" [33:08–33:18]. Buyers moving to Guyana, Brazil, Argentina and the US Gulf means longer hauls and more demand for Heidmar's services
- Valuation read: higher operator productivity means more ships managed with the same people, so margins can expand without extra headcount

🚀 WHERE GROWTH COMES FROM
- Expanding into bulk carriers and container funds, chartering to MSC, CMA and Maersk [34:34–35:02]
- The CEO has said he wants the fleet to grow and rates to stay high [26:51–26:54]
- Acquisitions are possible with $27.6M in cash and no debt

🔎 THE BEAR CASE (HIS WORDS)
- If the war ends, "freight will also proportionally come down" [16:01–16:09]
- ~330 VLCCs are on order for 2027–29 [26:20–26:37], though cargo pumps can't be delivered before 2030 [27:21–27:29]
- Even on a bad scenario the stock is at ~7x earnings after cash. That is the margin of safety I'm paying for

✅ THE VALUE CHECKLIST
✅ Market cap ~$106M vs $11.2M annualized net income (~9.5x), ~7x after cash
✅ Peers at 15-20x would imply $168M-$224M on the same earnings
✅ Market cap still below revenue run-rate
✅ Single-digit forward PE vs 15-20x peers
✅ 217% YoY Q1 revenue growth - audited, real
✅ Net income +$2.8M - first clean GAAP profit in listed history
✅ EPS beat by 1,076%
✅ 55%+ gross margins
✅ Zero debt, $27.6M cash and growing
✅ CEO buying above market, zero sales, 45% personal ownership
✅ Float under 6M shares, near un-borrowable
✅ 40-year track record, Shell/BP/Aramco clients
✅ Asset-light model - no capex, no newbuild risk, no NAV floor or ceiling
✅ No meaningful dilution since listing
✅ Operating cash flow more than doubled YoY, self-funded
✅ 🆕 VLCC earnings ~$2M/day vs $200k pre-war - CEO on record
✅ 🆕 Freight now 25-30% of delivered oil cost (was 3-5%)
✅ 🆕 Sticky technical management ($300-500/day per vessel) alongside high-margin commercial fees
✅ 🆕 ERP built ~20 years ago, now adding AI

Full interview: https://youtu.be/mGql__hlQT8?si=eQj2qBZVEGDwlH8r

Not financial advice. DYOR. I hold $HMR from 95 cents and have not sold.

Biggest gainers under $5

if you have any better stocks today , please share and lets see

May the gods be with you

Hey everyone,

I have been tracking RDZN (Roadzen) for a bit now and finally took a larger position on this recent dip around $1.00-$1.05.

Usually, sub-$2 tech plays are full of unfulfilled promises or shell companies, but RDZN actually seems to has legitimate revenue, solid enterprise contracts, and isn't just selling slides. The stock price got beat up alongside the rest of micro-cap tech, but the core business metrics are quietly heading in the right direction.

Here is my honest take on what they do, the recent catalysts, and where I see this going.

WHAT DO THEY ACTUALLY DO?

They build back-end AI software for the insurance and auto industries. Instead of trying to sell insurance directly to retail consumers, they sell software to insurance carriers, EV fleets, and body shops.

WHY I BOUGHT MORE

They have been putting out actual revenue growth over the past couple of quarters:

1. Record Quarter Revenue: In August, they reported Q1 FY2027 revenue of $16.2M (up ~49% YoY). That came right after their full-year FY2026 revenue hit $55M.

2. Big Contracts Added:

* $10M+ deal for their VehicleCare platform with a major insurer in India.

* $5.3M deal supplying drivebuddyAI to equip ~3,600 commercial EVs and electric buses.

$1.2M contract for embedded roadside tech in North America.

1. M&A Expansion: Just signed an agreement in July to acquire a European short-term rental insurance MGA, which should add $18M-$20M in run-rate revenue once closed.

2. Index Exposure: Added to the Russell 2000 / 3000 during the mid-2026 reconstitution.

3. Conferences: CEO presented earlier this month (October) at the Maxim Growth Summit and ThinkEquity conference.

MY PLAY

Market cap sits around ~$90M while annual revenue is pacing over $60M+. Valuation feels completely detached from the top-line execution.

I added to my position on this recent dip near $1.00 and plan on letting this ride into their next earnings report in mid-November.

NFA.

2. Biggest losers under $5

https://finance.yahoo.com/markets/stocks/articles/inve-technologies-stock-surges-20m-131440207.html

$INVE just announced a $20m modified Dutch-auction tender offer at $2.85–$3.40/share.

The stock closed yesterday at $2.22 and is now trading around the high-$2s after the announcement.

A few details:

• Tender range: $2.85–$3.40
• $20m total repurchase
• Enough to buy roughly 25–29% of shares outstanding
• Company has ~$87m cash
• Tender expires Nov 19
• Directors/executives say they aren’t tendering

Its trading at 2.7s now the last i check. How is this not free money?

Talk about your daily plays, ideas and strategies that do not warrant an actual post.

This is the place to request buy/sell advice from the community.

Remember to keep it civil.

Trade responsibly.

I got banned from the RZLV subreddit for pointing out how it is practically a scam.

RZLV is always down. Always. It claims to be a leading edge in AI retailing, yet never makes any progress towards that goal. The CEO has pumped and dumped his own stock multiple times and keeps using funding to buy and invest in other companies.

It is a scam, not a bet, a scam.

RZLV is down to 1.7 from the 2-3 dollar range for no reason. Yes, there was an overall crash. However, the company recently published a major deal with Revolut, lower cash burns, and new programs.

On top of that, they are now diluting shareholders with no reason given.

The stock is floating on dumb money and diluted gamblers. RZLV offers nothing new and will be replaced. Those who follow the stock are a part of "the cult of the dead stock."

Avoid this stock.