CORAL GABLES, FL / ACCESSWIRE / March 6, 2019 / The tech stock market has been a hotbed of exciting conversation during the last few months as a result of word spreading about tech companies taking innovative approaches to create new technologies for the betterment of humankind. Stemming from the belief that consumers deserve to live life to the best of their ability, these tech companies have pioneered technological advancements in the areas of augmented reality, cloud computing, and countless others. If companies in the tech world continue to design products with a consumer-centric focus, investors looking for potential opportunities could benefit from looking to tech. ParcelPal Technology Inc (PTNYF) (PKG), Seelos Therapeutics Inc (SEEL), Renren Inc (RENN), and Ohr Pharmaceutical Inc (OHRP) represent 4 tech stocks on the rise on Wednesday.
ParcelPal Technology Inc (PTNYF) (PKG) is a technology-driven logistics company purposed with connecting consumers to the goods they love. The Company is focused on alleviating the associated stressors related to taking time out of one's day to purchase goods and products by offering an on-demand marketplace where consumers can buy a multitude of items and have them delivered in less than sixty minutes.
Just before the end of last month, ParcelPal Technology Inc (PTNYF) (PKG) announced that Brian Storseth had joined the Company as Chairman of the Board of Directors. Prior to his work with ParcelPal, Mr. Storseth was a Member of Parliament (MP) for the electoral district of Westlock-St Paul for the Conservative Party of Canada for 9 years from 2006-2015. During his tenure as an MP, he served on committees for Aboriginal Affairs, Agriculture and Agri-food Canada.
Following the announcement, Kelly Abbot, President, and CEO of ParcelPal Technology Inc (PTNYF) (PKG), said, "Brian is an incredibly accomplished business leader and policy expert, having spent 9 years in Ottawa in the House of Commons. He is intimately familiar with ParcelPal's business, our plans for future expansion and will be an invaluable asset moving forward as we navigate multiple opportunities across various Government entities, namely within the Ontario market. We are excited to leverage his network, experience, and leadership to assist with our national expansion plans."
Seelos Therapeutics Inc (SEEL), a clinical-stage biopharmaceutical company, today announced that the Company will webcast their upcoming presentation at the 39th Annual Cowen Health Care Conference.
In addition to this announcement, the Company also shared that they will participate in the 31st Annual ROTH Conference scheduled to take place later this month in Orange County, California.
Renren Inc (RENN) announced in late January that Kaixin Auot Group, a leading premium used car dealership network in China owned by Renren, entered into a convertible loan agreement with Kunlun Tech Limited , a Hong Kong company owned by Beijing Kunlun Tech Co., Ltd., pursuant to which Kunlun has agreed to fund, subject to customary closing conditions, a $23 million convertible loan to Kaixin, with interest payable at the rate stipulated by the People's Bank of China.
Per the details of the agreement, all amounts outstanding under the loan will automatically be converted into CM Seven Star units at a conversion price of $10 per unit. The amount payable under the second tranche of the Loan will, if funded after the completion of the proposed business combination, automatically convert into CM Seven Star units at a conversion price of $10 per unit. CM Seven Star is also a party to the convertible loan agreement.
Ohr Pharmaceutical Inc (OHRP) reported financial results for the three months ended December 31, 2018, earlier this month. Per the details of their results, total operating expenses were approximately $0.9 million, consisting of approximately $0.7 million in general and administrative expenses, approximately $0.1 million of research and development expenses, and approximately $0.2 million in depreciation and amortization.
Following the announcement, Jason Slakter, CEO of Ohr Pharmaceutical, said, "since we announced the signing of a definitive agreement to merge with NeuBase Therapeutics, Inc., a privately-held biotechnology company, we have been working diligently to bring the proposed merger with NeuBase to our stockholders for a vote. We expect to hold a special stockholder meeting in the second calendar quarter of 2019."
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An Affiliate of JSG Communications, MIDAM VENTURES LLC has been compensated $75,000 per month for 3 months by ParcelPal Technology, Inc. for a period beginning September 1, 2018, and ending February 1, 2019, to publicly disseminate information about (PTNYF/PKG). We may buy or sell additional shares of (PTNYF/PKG) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. We own zero shares.
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