Elliott Wave Analysis: Crude OIL Pointing Towards Higher Levels

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Crude oil is moving nicely higher, ideally headed up into wave three as part of a new impulsive structure on a higher degree after we identified end of a corrective set-back near 53.00. we think that sooner or later price will break above 55.00.

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Crude OIL, 1H

 

Iteknik Holding Corp (OTCMKTS:ITKH) Shares Get Another Boost

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Iteknik Holding Corp (OTCMKTS:ITKH) shares rose 32.87% on Friday to $0.00380 and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00. The company has a market cap of $647K at 214.83 million shares outstanding.

Iteknik Holding Corp is a company that is engaged in providing wholesale and retail telecommunications services and products. The Company is focused on acquiring companies in the telecommunications and digital marketing industries. The Company provides marketing representative services to companies in the telecommunications and chemical industries that service business-to-business customers and consumers, respectively. The Company’s subsidiary is Send Global Corporation.

Last week, Iteknik Holding Corp announced that it had acquired certain assets and hired marketing professionals to fully launch the operations of Big Rhino Corporation. It also aunched a website so clients, prospective clients and shareholders can get more information about Big Rhino’s products and services.

“We encourage our investors and shareholders to go to Big Rhino’s website to see its exciting Product offerings. Big Rhino uses some of the latest digital technology and produces very high quality videos. The web-site showcases some of the creative products that have been developed for our clients,” said Iteknik Holding Corp Chairman and CEO Fred Wicks.

“Being part of iTeknik has really provided us with the resources to start building an exciting operating company. We have already signed twenty-four clients to use our services and we have several more prospects we are pursuing,” responded Kyle Eng, Big Rhino’s President.

In late January, iTeknik Holding Corp  completed its first acquisition by acquiring the assets of Arrowhead Advertising from the TCA Global Master Credit Fund. It used funds from a $15 million credit facility, drawing $5 million dollars in cash of which $4.1 million was used to acquire assets owned by TCA. Aside from that, the company agreed to pay the sellers an additional $1 million dollars in the form of 18 month convertible debt.

“This acquisition will provide the basis for future growth both through acquisitions and organic growth. We’ve hired and assembled a talented and experienced team to manage our new operating company,” remarked Wicks.

Soon after, the company strengthened its Balance Sheet by negotiating settlement agreements with a supplier and two Note Holders. It settled three debts which consisted of two third party notes and a large trade debt with payments by the Company of $60,490. These prevented the potential issuance of 255 million shares of the Company’s common stock by terminating the Note Holders rights of conversion.

“These agreements are just the first steps in our long range strategy to increase the value of our Company and improve our capital structure. Our planned next step in the process will be to uplift to the OTC:QB and become fully reporting. We are currently in discussions with firms to start an engagement and begin our audit,” mentioned CEO Wicks.

 

mCig Inc (OTCMKTS:MCIG) Pausing From Post-Earnings Rally

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mCig Inc (OTCMKTS:MCIG) shares rose 7.69% to $0.358 on Friday and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.03 to $0.50. The company has a market cap of $116.39 million at 340.61 million shares outstanding.

The other week, mCig Inc shares enjoyed a strong rally after the company printed its quarterly earnings figures. The report indicated that the company enjoyed its best quarter in corporate history with a net sales increase to $1.3 million, a 546% increase year to year comparison and a 204% increase from previous quarter.

The company generated $1.3 million in revenue through its construction, CBD, and e-Cig divisions during the third quarter bringing its total revenue for the financial year to $2.2 million. Net income for the quarter was $898K bringing its total net income YTD to $716K,  a 32% net margin.

“For the third straight quarter MCIG has recorded record numbers. With its current contracts and booked revenue the Company will continue to see quarter over quarter growth in revenue.” He went on to say, “During this quarter we will revamp our segment reporting; changing from construction, wholesale, and retail; to construction, CBD, and e-Cig operations. We feel reporting on the segments under these new categories will provide a greater in depth review of our operations to our shareholders and investors,” said the company’s Chief Financial Officer Michael Hawkins.

“The cannabis industry is growing rapidly and MCIG has been there since the beginning. Management continues to focus on its business grow opportunities in Nevada, while continuing to service other states as well.” MCIG has recently contracted its first business in the state of Maine, bringing its total states activities to six states. “We are well positioned to fulfill the requirements of this new, expanded market,” he further clarified, adding, “our ability to fulfill our obligations has always been our priority. The acid test ratio clearly demonstrates we did it right. Our ability to meet short term requirements through our tight capital control measures, gives us the ability to continue our expansion progress through organic growth and strategic partnerships,” mCig Inc CEO Paul Rosenberg remarked.

mCig Inc is a company that is engaged in manufacturing, marketing and distributing electronic cigarettes, vaporizers and accessories under the mCig brand name. It offers electronic cigarettes and related products through its online store, mcig.org, as well as through its wholesale, distributor and retail programs.

The company’s segments include Construction, Internet Sales and Wholesale. The Construction segment develops, designs, engineers, and constructs modular buildings with elements that assist cannabis growers in the market. Each modular building is designed for each customer. The company tracks various retail sales, through the Internet segment through the consolidation of all online retail sales from various websites. It provides streamlining of administrative and documentation services, consolidation of inventories and supports economy of scale. The Wholesale segment works with distribution channels in electronic vaporizing cigarettes (eCig) and marijuana cigarettes (Rllies), among others.

Bullish Updates from OWC Pharmaceutical Research Corp (OTCMKTS:OWCP)

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OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) shares advanced 36.57% to $0.915 on Friday and stayed unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.95. The company has a market cap of $128.82 million at 135.31 million shares outstanding.

Last week, OWC Pharmaceutical Research Corp nnounced that it will be presenting at the Wall Street Conference. The event will be held at the Hilton Doubletree Hotel and Conference Center in Deerfield Beach/ Boca Raton, Florida, on Wednesday, March 1, 2017. This is the premiere conference in the venture capital arena and small-cap marketplace and participants include industry leaders from the hedge fund, investment banking, and private equity worlds.

The company is scheduled to give its presentation on or around 3:30 PM, as a follow to its advisory board member, Jeffery Friedland’s key tone session. Friedland is a member of the company’s Advisory Board and is also CEO of Intiva Inc., which was an early-stage investor in OWC.

“The legal cannabis market has expanded considerably over the past two years, generating significant and growing investor interest. However, there are only a handful of publicly-traded companies focused on cannabinoid-based, pharmaceutical development and a true scientific approach to product development. I intend to discuss what I see as the publicly-traded cannabis opportunities at the Conference,” he remarked.

Prior to this, OWC Pharmaceutical Research Corp announced the appointment of Dr. Sharon Rozenblat as Senior Advisor to the Scientific Advisory Board of its wholly-owned Israeli subsidiary, One World Cannabis Ltd. As such, she will be tasked with overseeing the completion of the pre-clinical safety studies on the company’s treatment for psoriasis, which commenced in November 2016 and steering the company’s efforts to commercialize OWC’s cannabis-based formulations and delivery mechanisms.

“Dr. Rozenblat has had a significant impact in the field of dermatology, specifically with regard to botanical formulations. With more than 15 years’ experience in the research and development of herbal extracts and related products, as well as considerable experience in the design and management of clinical trials, she is the perfect complement to our scientific team,” remarked the company’s Chief Scientific Officer Dr. Yehuda Baruch.

OWC Pharmaceutical Research Corp is a medical cannabis research and development company that is engaged in the research and development of cannabis-based medical products for the treatment of multiple myeloma, psoriasis and fibromyalgia, as well as development of a cannabis soluble tablet delivery system that has applications for other indications. It also provides consulting services to governmental and private entities to assist them with developing and implementing various medical cannabis programs. As of September 30, 2016, the Company was engaged in two business activities: work with GUMI to commercialize and market the Company’s Electromagnetic Percussion Device and research and development of Cannabis-based medical products for the treatment of a range of medical conditions and/or diseases, such as multiple myeloma, psoriasis, post-traumatic stress disorder migraines and a delivery system.

Bitcoin’s Stiffest Competition For 2017

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It’s safe to say these days that Bitcoin has solidified its position as the leading cryptocurrency option. In addition to being far and away the most well known digital currency, Bitcoin also experienced soaring value throughout 2016. Bitcoin even broke the $1000 barrier on January 1st of this year. And though it’s had some ups and downs since then, it’s trading at a higher value than many predicted.

But Bitcoin isn’t alone in the digital currency market. While it has streaked ahead as the biggest name, there are still several altcoin options that appear to have staying power on their own. Altcoins are defined as cryptocurrency options aside from Bitcoin and are all over the place. Plus, there always seem to be new ones springing up. Here’s a look at some of the most established altcoins that look poised to perform well in 2017.

Litecoin

Litecoin has effectively carved out a runner-up position to Bitcoin in the cryptocurrency market, despite a much lower value. Still, there are significant differences between the two. Litecoin is capped at 84 million units that can be mined, whereas Bitcoin’s cap is 21 million. This almost automatically ensures a lower value for individual Litecoins, though it has been argued that this may offer psychological benefits, as users can trade in whole units rather than tiny fractions. For instance, if you want to buy a cup of coffee with cryptocurrency and one Bitcoin is worth $1000 while one Litecoin is worth, say, $3.50, it seems more convenient to use the latter. In addition to a strong reputation and reliability, this is one reason that Litecoin looks to be the stiffest competition among altcoins.

Ethereum

Ethereum is proving to be an interesting alternative for a number of reasons. Some people predicted that it would actually outperform Bitcoin in 2016, and while it didn’t meet those expectations it did find a noticeable level of stability. It’s a little early in the cryptocurrency era to define sweeping patterns, but it looks as though stability has to come before significant value inflation. There are so many altcoins that it’s only logical that people need to see one stick around for a while before it can be viewed as more legitimate option. That’s just what Ethereum has become. Combine this with a high market cap and a close working relationship with Microsoft and it should continue performing well in the near future.

Dogecoin

This one is a little less serious, but as altcoins go it seems to keep demanding some level of attention. Built less as an alternative to daily currency and more as a sort of internet token system, Dogecoin now has 106.6 billion units in circulation and always seems to generate some buzz. People seem to be attracted to the lighthearted nature of this particular altcoin project. Though its value is virtually negligible compared to Bitcoin or the U.S. dollar, it appears to have its own sort of staying power.

These are three of the altcoins that you’ll probably hear the most about over the course of this year. Ripple, Peercoin, and Neucoin could also make some noise, and as currency alternatives all three will likely wind up being stronger than Dogecoin. Even so, altcoins that will help to define this market alongside Bitcoin are likely those we mentioned here.

Elliott Wave Analysis: Crude OIL Looking For More Upside To Follow

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Crude oil found some nice support at 51.80 last week from where a strong recovery appears to be impulsive. Ideally that’s a wave one as start of higher prices that should come in play after a wave 2 pullback. Ideally market will see a strong bounce once 54.98 resistance is taken out.

 

 

 

Crude OIL, 4H

Elliott Wave Analysis: Crude OIL Looking To Take Off; More Gains Are Around The Corner

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Crude oil found some nice support at 51.80 last week from where a strong recovery appears to be impulsive. Ideally that’s a wave one as start of higher prices that should come in play after a wave 2 pullback. Ideally market will see a strong bounce once 54.98 resistance is taken out.

 

 

 

Crude Oil, 4H

 

Cannabix Technologies (OTCMKTS:BLOZF) Reports Breathalyzer Developments

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Cannabix Technologies (OTCMKTS:BLOZF) shares rose 13.88% on Thursday to $0.568 and were unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.10 to $0.81.

In a press release, Cannabix Technologies provided a development update on its FAIMS Beta 2.0 or marijuana breathalyzer for the detection of 9-tetrahydrocannabinol in human breath. Its development in Florida and Vancouver is going well and the company expects to begin pre-trial live subject testing during the month of March.

Over the last three months, the company made various technical leaps with several components. “In particular, the dielectric barrier discharge ionization source (“DBD”) which allows efficient ionization with relatively low voltages, has been significantly optimized in every aspect of the source (sizes, geometries, and materials) leading to significantly smaller instrument footprint. In addition, the high-voltage square wave generator (“HVSW”) which causes ions to oscillate rapidly at a high frequency between the FAIMS electrodes, to create separation from each other, has been drastically improved,” the press release indicated.

Aside from that, Cannabix Technologies is working with its Vancouver based engineering firm to ruggedize and refine its breath collection component. Engineers are testing a proprietary flow-through heat exchanger technology that stabilizes breath temperature in extreme cold as well as humid temperature settings.

Last December, a special Task Force set up by the Government of Canada to review the future regulation of recreational cannabis in Canada issued a report that emphasized the role of marijuana in impaired driving. The report recommended supporting the development of an appropriate roadside drug screening device for detecting THC levels and investing in baseline data collection and ongoing surveillance and evaluation in collaboration with provinces and territories.

Note that Canada is expected to table marijuana legalization legislation in the spring so Cannabix Technologies is ramping up its efforts to get the breathalyzer ready and use key metrics and guidance from Drugs and Driving Committee to establish testing parameters for drug-impaired driving.

Cannabix Technologies is a leader in marijuana breathalyzer development for law enforcement and the workplace. It has established breath testing technologies in the pursuit of bringing durable, portable hand-held tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many global jurisdictions.

The company is working to develop drug-testing devices that will detect THC, which is the psychoactive component of marijuana that causes intoxication, using breath samples. In particular, Cannabix is focused on developing breath testing devices for detection of recent use of THC, in contrast to urine testing for THC metabolite that requires an invasive collection and reflects use days or even weeks earlier. The devices will also be useful for other practical applications such as testing employees in the workplace where intoxication by THC can be hazardous.

Amfil Technologies Inc (OTCMKTS:AMFE) Aiming for New Highs?

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Amfil Technologies Inc (OTCMKTS:AMFE) shares rose 26.86% to $0.0222 on Thursday then retreated 20.14% in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.03. The company has a market cap of $15.01 million at 791.92 million shares outstanding.

In a press release yesterday, Amfil Technologies Inc gave an overview of its GROzone product line. These Antimicrobial Systems were originally developed for the medical marijuana industry as a safer, healthier and more environmentally friendly alternative to using pesticides and other harsh cleaning products in cultivation facilities.

The company also shared that two licensed medical marijuana producers in Canada voluntarily recalled products due to the presence of the prohibited chemicals myclobutanil, bifenazate and pyrethrins last year. These were banned for use on cannabis under the Pest Control Products Act. Last month, Health Canada confirmed that they had received a total of 11 adverse reaction reports, specific to the recalled products.

Since then, Health Canada pledged to “begin random testing of medical cannabis products produced by licensed producers, to provide added assurance to Canadians that they are receiving safe, quality-controlled product” and this is where GROzone comes in. This product could help growers avoid the risk to public health and recalled products by using this organic alternative to the pesticides and fungicides.

“We intend to continue the campaign and petition Health Canada to standardize the use of ozone as an antimicrobial substitute for pesticides and harsh chemicals, especially for any producer representing their product as organic,” the company stated.

Also, Amfil Technologies Inc mentioned that GROzone has been working diligently to gain market share in the North American sectors to target producers of cannabis, cannabis extracts, producers of edible products as well as hydroponic equipment manufacturers and retailers. It has been able to finalize a joint venture with a well-established hydroponic equipment manufacturer.

Lastly, the company has also begun initial discussions regarding a potential acquisition of an industry related infused vodka, gin and wine brand and will be formalizing an LOI within the week.

Amfil Technologies Inc is a company that operates through its subsidiary, Interloc-Kings Inc. which offers landscape construction and snow removal services in Canada. Interloc supplies and installs residential and commercial hardscape construction projects, including interlocking stone driveways, walkways, back patio’s, retaining walls and steps, fences, decks and pools, among others during the summer season. It also provides residential winter services in Markham, including winter maintenance services.

The company also owns the rights to Medium Scale Prospecting Mining Permits to over nine sites totaling approximately 10,300 acres in Guyana for exploration of gold. Also, it holds approximately 50% interest in mPact-GROZONE Antimicrobial Systems with distribution rights across the world. The Company’s other subsidiaries include Snakes & Lagers Inc. and Snakes & Lattes Inc., which operate board game themed bars and cafes in downtown Toronto, Ontario, Canada.

Elliott Wave Analysis: GOLD Aiming For Higher Levels; 1244 Is In View

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Gold has turned nicely bullish two months back with clean five waves up from 1120 area, which means that trend has changed from bearish to bullish mode. However, nothing moves in straight lines so drop from January highs down to 1180 was not a surprise; a contra-trend move in three waves that can represents a completed blue wave 2. That said, looking at the updated count we can now expect price to resume the uptrend in wave 3), as we can see red wave 2) showing first signs of completion at the 1215 level. A break above the 1244 level would be a confirmation for higher levels to follow.

 

 

GOLD, 4H

 

Tautachrome Inc (OTCMKTS:TTCM) Moving Closer to Nasdaq Uplisting?

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Tautachrome Inc (OTCMKTS:TTCM) shares rose 2.65% to $0.0271 on Wednesday and were unchanged in after-hours trading. The company has a market cap of $85.87 million at 3 billion shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.03.

In a press release this week, Tautachrome Inc shared that it is making progress with the Fortune 50 company that expressed interest in its KlickZie platform earlier this year.

“Early this year the company announced that it had been working to develop a KlickZie technology relationship with a Fortune 50 company (code name F50-1). In response to requests from F50-1, we have progressed in this work and have developed a cohesive and dynamic business model for F50-1 that exploits KlickZie technology in ways that impact the bottom line of the Fortune 50 company and their public image in powerful ways,” said Dr. Jon Leonard, CEO of Tautachrome Inc. “We will present the KlickZie business model to key decision makers in upcoming meetings.”

He went on to reiterate that the economic payoff of KlickZie is very high for companies with a global reach and with a large numbers of consumer customers. They have also learned that the business model they developed for this F50-1 company would work well with other firms.

In the same press release, Dr. Leonard mentioned that they have been approached by a venture company and an investment banking company with a roposal to make bank funded acquisitions of highly profitable private tech companions in the $20-30 million revenue range. This should help accelerate the uplisting of Tautachrome Inc on the Nasdaq, adding that it would benefit all parties involved.

“Done properly, this could be good for all parties: The revenues pay the banks, the deals pay the investment bank, and NASDAQ pays everybody else,” Dr. Leonard said.

“Up-listing to the NASDAQ quickly will be yet another key milestone for Tautachrome.  An acquisitions strategy could put KlickZie in a position to fund its own technology rollout and diversification in house, without recourse to additional large investors,” said Eric McRae, Tautachrome Inc Business Operations Manager.

Tautachrome Inc is formerly known as Roadships Holdings Inc. It operates in the Internet applications space and is engaged in pursuing three avenues of business activity: KlickZie technology-based business development and monetization; Smartphone application development and digital design, and acquisition of revenue-generating smartphone applications.

Its KlickZie Activation Platform will enable consumers to download KlickZie’s free camera upgrade software into their mobile device, which thereafter activates the pictures and videos taken by their device using KlickZie technology. The company’s Smartphone application development and digital design business activity will be conducted by Polybia Studios, Pty Ltd. The company’s Appquisitions Division is created as a vehicle to acquire revenue-generating smartphone applications. Its PhotoSweep is an application that lets users select photos from their smartphone photo albums, and have them printed and sent to addresses of their choosing.

Elliott Wave Analysis: S&P500 Trading Nicely Higher; Some Temporary Resistance May Come In Play Around The 261.8 Fibonacci Ratio

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On the S&P500 price broke out of a triangle formation nearly two weeks back which means that index is now in a final leg up within a higher degree wave 3. As such upside can be limited in the near future, once we have five sub-waves up within red wave 5) of 3. We see some nice resistance at 261.8 Fibonacci ratio, from where market may turn down later this week to start a new corrective pullback of a higher degree wave four.

 

 

S&P500, 4H