Bougainville Copper Limited (ASX: BOC) stock rose by more than 20% at a time when the global stock market appears to be on edge. The rally comes just days after the company provided preliminary results for its year ended 31 December 2019.
During the period, the company recorded a net loss of K8.6 million, a slight improvement from a net loss of $K10.6 million recorded a year earlier. Realized gains on sales for the period totaled K4.1 million. The company’s fair valuation of investments increased by K18.4 million compared to a decrease of K13 million reported a year earlier.
In 2019, directors did not declare any dividends as expenditure continued to be concentrated on tenure issues as well as stakeholder engagements and delivery of small community projects. Bougainville did not have any borrowings for which there was an obligation for repayment.
Allegra 20% Plus Rally
Allegra Orthopaedics Ltd (ASX: AMT) was another big mover rallying by more than 20% just days after delivering impressive financial results. Revenues for the half-year ended 31 December 31, 2019, rallied 26% to $2.3 million as EBITDA also skyrocketed 72% to $582,293. However, net loss attributed to shareholders nearly doubled to $817,314 from $480,865 reported a year ago.
The company continued to operate in two distinct business segments of the Orthopaedics division, specializing in the sale and distribution of medical device products. The Innovation division, on the other hand, invests resources in the development and commercialization of new medical devices.
Some of the key milestones achieved in the period included the development of the Sr HT Gahnite Spinal Fusion Cage device that reached a significant milestone as part of a large preclinical animal study. The study seeks to evaluate the safety efficacy and performance of the device in the sheep model. The company has lardy secured funding amounting to $786,000 that will go towards the preclinical study.
Family Zone Cyber Safety Limited
Family Zone Cyber Safety Ltd (ASX: FZO) rallied by more than 17% after confirming it continues to achieve a significant milestone in the U.S Market. The company’s sales team has already recorded A$2 million in annual contracted revenues in a little over 12 months.
Revenue growth stems from the addition of 5 experienced education sales professionals that has since taken the U.S team to 16 persons. In addition to revenue growth, key metrics continued to build with 30% plus lead conversion rates as well as 85% trial conversion rates.
The company has successfully built a strong reputation in the U.S education market. Likewise, it remains well-positioned to enter into multi-year service agreements with cash paid up-front. The new arrangements account for over 35% of the deals won and expected to build over time to greater than 50%.
Family Zone Cyber Safety Limited is, on course for an exceptional year when it comes to revenue growth backed by a sales pipeline that has already exceeded A$6 million. With Coronavirus threatening mass homeschooling, the company’s Classwize tool remains well suited to elicit strong demand as an ideal tool whereby teachers can manage large and mobile virtual classes.