In a recent transaction, Laith Yaldoo, a director at Zivo Bioscience, Inc. (NASDAQ:ZIVO), acquired a significant amount of the company’s stock. On October 16, Yaldoo purchased 3,133 shares of common stock at a price of $15.957 per share, totaling approximately $49,993. This acquisition increases Yaldoo’s total holdings to 533,424 shares. Additionally, Yaldoo exercised warrants to purchase an additional 313 shares of common stock at the same price. These transactions reflect Yaldoo’s continued investment in the company, which is known for its work in the biological products sector.
In other recent news, Zivo Bioscience has expanded its Board of Directors, appointing Laith Yaldoo, a seasoned professional with a diverse background in various industries. This strategic addition is part of the company’s ongoing commitment to strengthen its leadership team. Yaldoo’s vast experience is expected to provide valuable insights as Zivo navigates the complex biotech industry.
In addition, shareholders have approved key proposals, including the election of Nola E. Masterson as a Class II director, the appointment of BDO USA, LLP as the company’s independent registered public accounting firm, and the compensation of the company’s named executive officers. These decisions received substantial majority votes at the annual shareholder meeting.
Furthermore, Zivo Bioscience’s stock rating has been downgraded from Buy to Hold by Maxim Group, a notable analyst firm, due to the company’s delisted status and capital constraints. Despite this, the potential of Zivo Bioscience’s proprietary algal biomass and the possibility of securing a deal for its innovative poultry feed ingredient are recognized. Maxim Group has also adjusted Zivo Bioscience’s financial outlook, lowering the 2024 revenue estimate while leaving the 2025 forecast unchanged, based on the first quarter results of 2024 and subsequent expectations for the company’s financial performance. These are the recent developments concerning Zivo Bioscience.
InvestingPro Insights
The recent stock acquisition by director Laith Yaldoo aligns with several positive trends for Zivo Bioscience, Inc. (NASDAQ:ZIVO). According to InvestingPro data, ZIVO has demonstrated impressive growth, with a staggering 1364.69% revenue increase in the last twelve months as of Q2 2024. This growth trajectory is further supported by an InvestingPro Tip indicating that analysts anticipate continued sales growth in the current year.
The company’s stock has also shown remarkable performance, with a 355.55% price total return over the past year and a 185.65% return over the last six months. These figures underscore the strong momentum behind ZIVO shares, which could have influenced Yaldoo’s decision to increase his stake.
However, investors should note that ZIVO operates in a niche segment of the biological products industry and has not been profitable over the last twelve months. The company’s short-term obligations currently exceed its liquid assets, suggesting potential financial challenges ahead.
For those seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for ZIVO, providing deeper insights into the company’s financial health and market position.
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