Current Research

Actielis Networks

Initiating coverage
4Q24 results 3/27/25
New PTC customer demonstrate value proposition 3/28/25
1Q25 results 5/19/25

Adial Pharmaceuticals, Inc.

Initiating coverage with a Buy rating and $5PT
Adial 2Q21 reaches 100% enrollment in Phase 3 trial
Adial reports first patient dosing of its addiction drug AD04
New options for AUD recovery open new opportunities for Adial Pharma

Aether Holdings, Inc.

Initiating coverage of Aether Holdings, Inc. 9.29.2025
Aether reports F4Q25 – reiterate our buy rating and $10 PT. 12/19/25

Algorhytm Holdings, Inc.

Initiating coverage on rising logistics company, RIME, with a Buy rating 6/4/2025

Aviat Networks, Inc

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BelFuse

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Ceragon

Initiating coverage 12/3/2024
4Q24 Preview 2/6/2025
4Q24 Results 2/19/2025
1Q25 Results 5/15/2025

Cycurion, Inc.

1/23/2026 Turning Cyber Risks into Recurring Revenue – Initiating Coverage with a Buy Rating and $7 Price Target

DarioHealth Corp.

Initiation of coverage 5/19/25
GLP-1 users see benefits to Datio’s health platform 7/1/25
DarioHealth appears to be in play 9/26/25

Faraday Future Intelligent Electric, Inc.

Initiation of coverage of Faraday Future Intelligent Electric, Inc. 11/20/2025
Stockholder day roundup 1/20/2026

FG Nexus Inc.

11/11/2025 – Initiating coverage with a Buy rating and $12 PT.

Globavend Holdings Ltd.

Initiating coverage 7.10.2025

iQSTEL, Inc.

7/2/25 Unlocking Global Telecom Value Through Innovation, Relationships, and Acquisitions
07/28/2025 GlobeTopper Gives iQSTEL a Profitable Entry into Fintech, and a Synergistic New Growth Platform
8/19/2025 Revenue Acceleration, Fintech Expansion, and Path to Profitability
09/25/2025 iQSTEL & Cycurion: A Strategic Cybersecurity Alliance with Real Upside
11/19/2025 iQSTEL’s Breakout Quarter: Organic Engines Firing as the $1B Roadmap Snaps Into Focus

Immuron Ltd.

Initiation of Coverage
Immuron 3Q24 Sales on track for our full year estimates

Inspira Technologies

Title is Raising estimates and price target 7.7.2025

KULR Technology Group

KULR Technology Group Initiation of coverage
24 August 2020 KULR Technology 2Q20 results largely as expected
KULR reports 2Q21 and beats revenue estimates
Advancing Li-Ion technology, KULR reports 3Q21. Raising price target to $7 from 5 and reiterating our Buy rating.
KULR lands first contract with Lockheed Martin
KULR lands new order and grows addressable market
KULR reports 4Q21 and beats on revenue. Reiterate Buy and $7 PT.
KULR Technology – initiating 2023 estimates – reiterate Buy rating and $7 PT
KULR Tech 2Q22 earnings preview
KULR Tech 2Q22 results show a miss to earnings by $0.01 but growing customer count is a big plus. Reiterate Buy and $7 PT
KULR posts record revenue for 3Q22
KULR Technology beats 4Q22 EPS on record revenue
KULR reports 1Q23 – shows solid start to the year
KULR reports 2Q23
KULR Technology reports 3Q23
Inline EPS 4Q23
KULR reports 1Q24
KULR 2Q24 update
KULR reports 3Q24
KULR reports inline EPS 4Q24
Update to KULR estimates 5/1/2025
KULR mid quarter update 10/6/2025
Lowering price target to $8 from $10 on margin concerns however strong growth persists. 12/5/2025

Lesaka Technologies

Initiating coverage of South Africa Fintech Lesaka
Reports F3Q23
Reports F4Q23
Preview F1Q24
Accounting restatement leaves income unchanged – Reiterate our Buy rating 10/22/2025

LiveOne, Inc.

Initiation of Coverage of LiveOne
Pre-announces stronger than expected Q4 F24 EBITDA
Strong F4Q24 – We Now Expect $152 MM Rev and $21 MM EBITDA for FY25
Becoming the Global Leader in Bespoke, Leaned-Back Audio for Partners
LiveOne Rocks On With Revenue Up 19%, EBITDA Up 31%
Risk and Opportunity as LiveOne Reports September Quarter Results – Reiterate Buy
LiveOne Well Positioned to Win Tesla Subscribers
1/31/25 LiveOne off to a Great Start in 2025 – Reiterate Buy
12/23/2025 Significant Valuation Disconnect; B2B Strategy and AI Monetization Set to Unlock Substantial Shareholder Value

Marti Technologies, Inc.

Initiation of coverage 14 April 2025
1Q25 Results 30 April 2025
Looking into 2026 Update 12/4/2026

Mobile-Health Network Solutions

Initiating coverage of telemedicine provider, MNDR
Pre-announced 100% growth for 1H F24 telemed visits and revenue
Raising estimates and upping target to $8 as MNDR rings the NASDAQ opening bell
ManaDr Makes Progress in Geographic Expansion, Artificial Intelligence, Weight Management Programs and Pharmacy

Mobilicom Ltd.

08/25/2025 An Emerging Defense-Tech Leader at the Heart of the Drone Revolution
9/2/2050 Securing the Future of Autonomous Drones
10/7/2025 Pentagon Cybersecurity Concerns at Anduril Underscore Mobilicom’s Competitive Advantage
10/14/2025 Elevating to an End-to-End Drone Security Provider
11/14/2025 3Q Update Reinforces Structural Competitive Positioning Ahead of DoW CSRMC Rollout – Reiterating Buy and $11 Target
12/8/2025 Three Recent Catalysts Set the Stage for Momentum Into 2026– Reiterating Buy and Raising Target to $12

PodcastOne, Inc.

Podcasting is Growing Rapidly and PodcastOne is the Only U.S. Public Pure Play
PodcastOne Posts Better-Than-Expected 24% Revenue Growth – Buy $5 Target
Reiterate Buy on PodcastOne as the Podcasting World is Exploding
1/17/25 Amazon Deal Accelerates Revenue and Talent Acquisition
2/12/25 PodcastOne 3Q Revenue Beat, Still Guiding for Positive EBITDA for Fiscal Year
12/22/2025 Podcasting Is Taking Share from Radio, Yet PODC Trades Like a Radio Stock

Safe Pro Group Inc.

Initiating coverage of Safe Pro Group 7.17.25
Raising price target to $12 from $8 on announcements from drone makers.

Silexion Therapeutics Corp.

Initiating coverage of Silxion Therapeutics Corp with a Buy rating and $6 PT. 12/15/25

SKYX Platforms Corp.

10/17/2025 The Qualcomm of Smart Homes – SKYX Platforms’ Path to Smart Home Dominance – Initiating at Buy / $5 Target
11/13/2025 3Q Update: Strong Beat, Expanding B2B Pipeline, Potential Building Code Breakthrough Ahead
12/22/2025 Company Visit Highlights: Execution Improving, 2026 Setup Strengthening

Society Pass Inc.

Initiation of Coverage
Update from the field – Major Progress in January
1Q24: Thoughtful Media Beats Expectations, While NusaTrip Platform Delays Hamper Revenue
Digital Marketing Unit Files for IPO – Price Range Implies Major Upside for SOPA
01/21/2026 Executing a Strategic Transformation

Star Equity Holdings

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TEN Holdings, Inc.

Premium Events Management Company with Major Upside From Strategic Moves and M&A
3/3/25 Updated version of initiation report
4/8/2024 Firing on All Cylinders
06/30/2025 A Transformative Opportunity in the Event Production Sector
7/16/2025 Key Initiatives On Track; SaaS Launch Nearing

Thoughtful Media Group Inc.

Initiating Thoughtful Media – Social Media Marketing in the Fastest-Growing Region Globally

Travelzoo

Initiation of coverage

uCloudlink Group, Inc.

Initiating coverage of uCloudlink Group with a Buy rating and $8 price target
UCloudlink reports 2Q23

Unusual Machines, Inc.

1/19/2025 Making Drones Great Again – Initiating Coverage of Unusual Machines with a Buy Rating and $20 Price Target
02/27/2025 Announcement of New Drone Motor Component Increases TAM by 50% – Reiterating Buy Rating and $20 Price Target
04/03/2025 Tariffic Investment Opportunity
05/09/2025 UMAC Beats 1Q Expectations and Completes Financing Required to Get to FCF Positive
06/09/2025 – Unleashing American Drone Dominance
06/16/2025 UMAC Swaps Software for Synergy
07/11/2025 New Pentagon Drone Policy Unlocks Massive Market Opportunity
8/19/2025 Christmas Eve in Orlando as Unusual Machines Awaits Massive Order Inflow
09/24/2025 Moving at the Speed of Crazy
10/02/2025 Raising Revenue, EPS, and Price Target, but the Best Is Yet to Come
10/14/2025 The Screaming Eagles Go Shopping at UMAC’s RotorRiot.com
10/23/2025 Burning Man for Drones – UMAC’s Rotor Riot Rampage
11/7/2025 Building Momentum: First Profit, Expanding Backlog, and Strategic Scale-Up
11/13/2025 Fourth Strategic Investment Deepens Vertical Integration; Structure Creates Multiple Upside Pathways

Usio, Inc.

The Most Innovative Company in Payments
USIO Beats on EBITDA, Raises Guidance on Balanced Quarter – Reiterate Buy
Reiterate Buy Rating as Strong 3Q Setting Up USIO For Massive 2025
Payment Processor Likely to See Significant Revenue Acceleration in 2025 as Stock Nears 52-week low.
2/3/24 Usio Returning to Double-Digit Growth in 2025 – Reiterate Buy and $6 Target
04/03/2025 Back to Basics
05/15/2025 Usio Unveils Revamped Sales Strategy and Accelerates Innovation
08/07/2025 Usio Delivers Resilient EBITDA as ACH Strength Offsets Prepaid Headwinds
9/22/2025 Inflection Point in Growth and Profitability
11/13/2025 Inflection Quarter Sets the Stage for Reacceleration in 2026

VEON Ltd

Initiating coverage of digital operator, VEON Ltd, 6/26/2025
Update post successful listing of Kyivstar – Raising price target to $75 from $69 – 8.22.2025
Shares don’t fully reflect its majority ownership worth $2.3 billion, in Kyivstar – 9.12.2025
2025 Preview 1/7/2026

Virtualware S.A.

Initiating coverage on VR pure play, Virtualware with a Buy rating and a EUR 10.00 price target.
Virtualware reports preliminary 2H23

Vobile Group Ltd.

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WidePoint Corporation

Initiation Report – WidePoint is an Undiscovered, Under-Valued SaaS Stock – June 24, 2024
WidePoint Tracking Well Ahead of Guidance on a Plethora of Major Contract Wins
Reiterate Buy as WidePoint Likely to Exceed ’24 Guide with a Plethora of Contracts on Tap
2/21/2025 Reiterate Buy as WidePoint Wins Major FedRAMP Approval
4/7/2025 WidePoint was DOGE When DOGE Wasn’t Cool
4/16/2025 DOGE is More of a Tailwind than A Headwind
05/16/2025 Raising Target to $8 as WidePoint Reports Strong Q1 and Guidance
06/30/2028 The Quants Taketh and the Quants Giveth Back
08/15/2025 Multiple Contract Opportunities Set Stage for Stronger Long-Term Growth Despite Near-Term Guidance Reset
11/14/2025 Contract Visibility Expands Into a Multi-Year Revenue Step-Function – Reiterate Buy and Raise Target to $10

Zapp Electric Vehicle Group Ltd.

Addressing the $100B+ tw-wheel EV market, we are initiating coverage of Zapp Electric Vehicles Ltd. with a Buy rating and US$35 PT.