$CLNV Turning Plastic Into Clean Energy
Potential funding could be coming soon for Clean Vision Corporation (OTC: CLNV) after its representative teased a $250 million funding deal on Twitter. CLNV stock is up 29% since this news dropped and could further run – especially after the company’s representative shared that news is imminent. Considering that this funding is more than 10 times the company’s market cap, the stock may be well-positioned to soar from current levels if the company announces such funding.
CLNV Fundamentals
$500 million is the amount CLNV needs to fund all projects in its deck. That said, the company may announce a funding deal soon as its representative – Daniel Borders – shared that he would not be surprised if the company announced $250 million in non-dilutive funding from an unexpected source, after which he shared that news is imminent.
The reason why the upcoming news could be related to funding is that the company’s CEO Dan Bates was in Chicago in early August to meet with Huntington Bank clients. This meeting could have been to discuss receiving financing from a consortium to fund the company’s projects. With this in mind, the company’s IR – Frank Benedetto – confirmed this when he shared that Bates was in Chicago to secure funding.
Another possible announcement could be regarding a financing tranche from Roselle Capital for its Southeast Asia plant in Malaysia. Roselle is expected to secure the $500 million required for the first phase of the project which was waiting for state and federal final approval. On that note, Benedetto previously shared that the elections in Malaysia went how the company hoped, which is a positive sign that the company can move forward with the project now.
All in all, if the company shares any news regarding non-dilutive funding, CLNV stock may witness a strong run given that the potential funding may be worth as much as 10 times its market cap of $20.1 million. As a result, investors may find the stock a lucrative long-term investment given the potential of the company’s business.
CLNV Financials
Q2 2023 Earnings
According to the company’s Q2 2023 report, its assets grew substantially from $377.1 thousand at the beginning of the year to $9.3 million. This increase is mainly due to its goodwill resulting from its JVs to operate plants for cleaning the environment. On that note, the company’s 51% stake in Clean Seas Morocco increased its property and equipment from $241.7 thousand to $1.3 million.
As assets increased as the company started to upscale its business, its liabilities also increased from $1.9 million at the beginning of the year to $11.4 million. This is due to $1 million in convertible notes payable, $5.4 million in debts payable, and $2.5 million in derivative liabilities.
Looking into the company’s income statement, CLNV reported its first revenue of $161.2 thousand generated from Clean Seas Morocco. Meanwhile, its operating costs increased slightly YoY from $1 million to $1.1 million. That said, the company incurred $1.2 million in interest expenses which led its net loss to widen YoY from $1.1 million to $2.7 million. This shows that the funding the company is set to receive may be pivotal as it would allow CLNV to repay all of its debt – improving its bottom line in turn.
Technical Analysis
Looking at the hourly chart, CLNV stock is in a neutral trend as it is trading in a sideways channel between $.0327 and $.0396. Looking at the indicators, the stock is above the 200, 50, and 21 MAs which is a bullish sign. Meanwhile, the RSI is neutral at 60 and the MACD is bearish but is starting to curl bullishly.
As for the fundamentals, the company is expected to share news soon as per its representative Daniel Borders. Given that the news could be related to a $250 million non-dilutive funding agreement, CLNV stock could witness a substantial run since the expected funding is more than 10 times its market cap. For this reason, bullish investors could wait for the stock to cool down from its recent run by testing the $.0327 support to enter long positions ahead of the news.
CLNV Forecast
This may be the optimal time to go long on CLNV stock given the potential of its upcoming news. As is, the company has a market cap of only $20 million and has the potential to secure $250 million in non-dilutive funding which is more than 10 times its market cap. If the company successfully secures such funding, any fears of dilution could be over as the company could repay all of its debt while working on the projects in its pipeline. In light of this, CLNV stock may prove to be a profitable long-term hold as it may start realizing its full potential soon.
CLNV Fundamentals
$500 million is the amount CLNV needs to fund all projects in its deck. That said, the company may announce a funding deal soon as its representative – Daniel Borders – shared that he would not be surprised if the company announced $250 million in non-dilutive funding from an unexpected source, after which he shared that news is imminent.
The reason why the upcoming news could be related to funding is that the company’s CEO Dan Bates was in Chicago in early August to meet with Huntington Bank clients. This meeting could have been to discuss receiving financing from a consortium to fund the company’s projects. With this in mind, the company’s IR – Frank Benedetto – confirmed this when he shared that Bates was in Chicago to secure funding.
Another possible announcement could be regarding a financing tranche from Roselle Capital for its Southeast Asia plant in Malaysia. Roselle is expected to secure the $500 million required for the first phase of the project which was waiting for state and federal final approval. On that note, Benedetto previously shared that the elections in Malaysia went how the company hoped, which is a positive sign that the company can move forward with the project now.
All in all, if the company shares any news regarding non-dilutive funding, CLNV stock may witness a strong run given that the potential funding may be worth as much as 10 times its market cap of $20.1 million. As a result, investors may find the stock a lucrative long-term investment given the potential of the company’s business.
CLNV Financials
Q2 2023 Earnings
According to the company’s Q2 2023 report, its assets grew substantially from $377.1 thousand at the beginning of the year to $9.3 million. This increase is mainly due to its goodwill resulting from its JVs to operate plants for cleaning the environment. On that note, the company’s 51% stake in Clean Seas Morocco increased its property and equipment from $241.7 thousand to $1.3 million.
As assets increased as the company started to upscale its business, its liabilities also increased from $1.9 million at the beginning of the year to $11.4 million. This is due to $1 million in convertible notes payable, $5.4 million in debts payable, and $2.5 million in derivative liabilities.
Looking into the company’s income statement, CLNV reported its first revenue of $161.2 thousand generated from Clean Seas Morocco. Meanwhile, its operating costs increased slightly YoY from $1 million to $1.1 million. That said, the company incurred $1.2 million in interest expenses which led its net loss to widen YoY from $1.1 million to $2.7 million. This shows that the funding the company is set to receive may be pivotal as it would allow CLNV to repay all of its debt – improving its bottom line in turn.
Technical Analysis
Looking at the hourly chart, CLNV stock is in a neutral trend as it is trading in a sideways channel between $.0327 and $.0396. Looking at the indicators, the stock is above the 200, 50, and 21 MAs which is a bullish sign. Meanwhile, the RSI is neutral at 60 and the MACD is bearish but is starting to curl bullishly.
As for the fundamentals, the company is expected to share news soon as per its representative Daniel Borders. Given that the news could be related to a $250 million non-dilutive funding agreement, CLNV stock could witness a substantial run since the expected funding is more than 10 times its market cap. For this reason, bullish investors could wait for the stock to cool down from its recent run by testing the $.0327 support to enter long positions ahead of the news.
CLNV Forecast
This may be the optimal time to go long on CLNV stock given the potential of its upcoming news. As is, the company has a market cap of only $20 million and has the potential to secure $250 million in non-dilutive funding which is more than 10 times its market cap. If the company successfully secures such funding, any fears of dilution could be over as the company could repay all of its debt while working on the projects in its pipeline. In light of this, CLNV stock may prove to be a profitable long-term hold as it may start realizing its full potential soon.
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