Kelso Technologies Inc. (KIQ) stock prices were down by 0.42% as of the market closing on May 25th, 2021, bringing the price per share down to USD$0.6366 at the end of the trading day. Subsequent pre-market fluctuations saw the price rise by 5.25%, bringing it up to USD$0.67.
Solid Liquidity Position
KIQ reported having cash on deposit amounting to USD$4,552,725, accounts receivable of USD$646,429, prepaid expenses of USD$236,879, and inventory of USD$5,659,758 as of March 31st, 2021. As of December 31st, 2021, the company reported USD$1,049,049 in cash on deposit, USD$535,659in accounts receivable, prepaid expenses of USD$162,739m, and inventory of USD$5,462,532.
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Strength of Working Capital Position
The strength of the working capital position of the company is evidenced by reports of USD$10,180,050 as of March 31st, 2021, up from the USD$6,251,893 reported as of December 31st, 2021. The largest improvement in the working capital position was incurred on March 4th, 2021 with the completion of a private equity placement. The placement saw the issuance of 7 million units, with each unit comprising of one common share of the company and one-half of a single common share purchase warrant. Each unit was priced at USD$0.91 per unit.
Exercising of Warrants
Each whole warrant carries the option of being exercised at a price of USD$0.95 per common share before 4:01 pm on March 4th, 2022. The exercisable price of each warrant will be USD$1.08 before 4:01 pm on March 4th of 2023. The private placement did not materially affect control of KIQ and will facilitate the company’s ability to continue its continued business operations as planned for the foreseeable future.
Problematic Pandemic
The three-month period ended March 31st, 2021 exhibited weak financial performance, with the slow return of business to pre-pandemic volumes being a major contributing factor. The downward trend of diminished rail tank car activity over the course of 2020 since the global onset of the coronavirus pandemic continued to present challenges during the first quarter of the fiscal year 2021.
Future Outlook for KIQ
As the world hurtles towards global immunizations, the company is eager for the acceleration of the return to normalcy. As government-mandated restrictions and regulations are slowly being lifted, KIQ is hope for a remaining 2021 that will make up for the past several quarters. Current and potential investors are hopeful that the company will continue to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.
