ALT5 Sigma Corp. (ALTS)
Pitch Summary: ALT5 Sigma is a hyper-speculative play on Trump-linked crypto token World Liberty Financial (WLFI). The company acquired ~$1.5B of WLFI governance tokens at $0.20 and trades at a steep discount to its reported NAV (~$6.40/share vs. ~$4 market price). While fundamentally fragile—its core value tied to volatile WLFI—ALTS could surge from a meme-driven […]
ToffCap’s Monday Monitor #75Kezar Life Sciences, Inc. – KZR
Pitch Summary: Kezar Life Sciences is reviewing strategic alternatives for its Zetomipzomib Program, with the potential for liquidation, following a rejected acquisition offer and recent share price increase. BSD Analysis: Kezar Life Sciences’ decision to explore strategic alternatives for its Zetomipzomib Program comes amid financial challenges, with a negative enterprise value and significant cash reserves […]
ToffCap’s Monday Monitor #75Mustang Energy PLC – MEC.V
Pitch Summary: Mustang Energy plans to spin off its rights to certain properties into a subsidiary, Allied SR, allowing shareholders to retain a proportionate interest, creating potential speculative opportunities. BSD Analysis: The spin-off of Mustang Energy’s properties into Allied SR is a strategic move to unlock value from its existing assets. While the junior mining […]
374Water Inc (SCWO)
Pitch Summary: The shitco that is most overhyped coming into the Russell index (1,500% since its reverse merger; the company is underfunded; promotion of an old technology; no signs of economic validity; 95% downside; Update 7/12 – Follow-up report: More delays and the short thesis stays the same. BSD Analysis: 374Water develops wastewater treatment solutions. […]
SOW GOOD INC (SOWG)
Pitch Summary: Company’s technology lacks competitive advantage; heavy reliance on a co-manufacturer abraod; the business is threatened by current candy brands; weak online marketing; ineffective Amazon strategy; online searches peaked – the end of the trial period; BSD Analysis: Sow Good operates in the freeze-dried food space. Bears stress microcap volatility, lack of operating scale, […]
ASP Isotopes Inc (ASPI)
Pitch Summary: Failed technology that is virtually worthless; Cameco looked at partnership and is skeptical of the technology; paid stock promotion; microcap fraud (the HQ is now a co-working space); zero patents; questionable history; delusional estimates; BSD Analysis: ASP Isotopes develops nuclear and isotope enrichment technology. Bears argue that the company is pre-revenue, highly promotional, […]
Quantum Computing Inc (QUBT)
Pitch Summary: Four-year-old quantum computing wannabe; the main product has zero sales; highly competitive market with competitors such as IBM, AMZN and GOOGL; $85m acquisition with little value and huge dilution; constant cash burner with weak capital structure; Update 12/6 – Iceberg tweeted the company’s $25m equity offering, equal to 1/4 of the market cap. […]
Telomir Pharmaceuticals Inc (TELO)
Pitch Summary: No reported results on its original preclinical studies and altered the trials, which are not good models; the product is far from testing on humans; the founder has an alarming history of corruption; the management is full of insiders with no biotech backgrounds; BSD Analysis: Telomir Pharmaceuticals focuses on therapies tied to telomere […]
Quantum Computing Inc (QUBT)
Pitch Summary: Fake sales; fake partnerships; deceptive PRs; outright fraud; employee separation agreements that prohibit employees from talking to the SEC; no business & contractual relationship with NASA contrary to its claims; BSD Analysis: Quantum Computing Inc. promotes quantum-inspired software but generates minimal revenue and faces credibility concerns around commercialization timelines. Bears argue the company […]
