It seems like Astra Veda Corporation (OTC: ASTA) is currently keeping its word concerning becoming Pink Current permanently as it successfully filed its Q2 earnings. Moreover, the company is keeping its promise of issuing PR every week for the next 3 – 4 months as it shared its first PR regarding $1.5 million in non-dilutive funding and a PR regarding its Q2 earnings. As for the next week’s PR, it could be related to a deal with the Finnish military since it has been teasing the Finnish flag in its latest tweets. With promising plans up its sleeve and plans to initiate the audit process to become SEC reporting, the future seems bright for ASTA stock.
ASTA Stock News
*Written August 17th, 2021
Astra Veda Corporation has overcome the legal challenges of the last three years and appears poised for a comeback. The company – which co-founds technology companies and incubates them to maturity – spiked up to a 52 week high of $.009 last week following their CEO’s announcement that ASTA intends to become pink current. As of July, the company’s profile was verified by the OTC market. Generating revenue through its promising subsidiaries, the Astra Veda Corporation has excited many investors thanks to its assets which are some of the strongest in the technology market. While this hot penny stock is trading under 10 cents, it may not be for much longer.
Paranotek, the golden goose of Astra Veda, was developed by the company’s CTO and Co-Founder, Lauri Tunnela. The cybersecurity software company, whose main goal is ensuring maximum security for the users, provides the encryption necessary for the utmost privacy. With a four year patent-pending, Paranotek has what is likely to be the first quantum-computing resistant encryption. This is particularly impressive considering the novelty of the technology presented. While, COVID issues over the past 18 months have no doubt hindered the United States Patent and Trademark Office’s progress in approving its patent, Twitter updates from ASTA’s official account with the hashtag #patenttime is making speculative investors confident that the approval is coming soon. Once approved, Paranotek will be well ahead of its competition thanks to this cutting edge technology. But in the meantime, Astra Veda has continued progress on two of its internally developed apps.
Punchzee is a powerful field management platform suitable for start-ups in the construction and maintenance industries as well as for large general contractors. Available for download since 2019, the app allows its users to create projects and upload drawings that are readable down to the smallest detail on all devices. Additionally, it creates custom, easy-to-use task forms that can be quickly sent to field technicians for completion – eliminating the chance of errors or delays. Despite fierce competition, the app is standing its ground.
Punchzee has recently announced a partnership with the National Association of Women In Construction (NAWIC). This partnership provides an extraordinary opportunity for NAWIC members to utilize this powerful field management software in order to efficiently manage, track, and report construction operations.
ASTA’s second subsidiary, Saphyr, is heralded as the only quantum computer resistant messenger app. Messages sent with Saphyr are transferred directly from 1 device to the other without any servers in the middle. Unlike other messaging services, Saphyr does not require personal information like a user’s name or phone number. Based on Parantok’s twitter updates, it appears the much-anticipated release of the Sayphr app could be very soon.
As a company with so much potential, Asta’s board was adamant that it create a new identity for the company. For this reason, the company filed in 2019 to change the company’s name from Worldflix (WRFX) to Astra Veda (ASTA). In the interest of transparency and accountability, the company has decided based on a forensic accounting examination that it is “required to reconstruct a general accounting ledger based on the information curated by the fraud and forensic examination team”. In a press release last March, the CEO said the company will meet the OTC market deadline and deliver the required filings on time. Currently, their draft financials are being reviewed by an independent audit committee and ASTA is showing no signs of slowing.
Announcing a joint venture with Bullet Barrier last May, CEO Mick Davis is pursuing new plans with the manufacturer of ballistic-resistant windows and door coverings. In light of recent mass shootings, these products will likely be marketed to schools and governments as well as residential and commercial communities by 2025.
*Update March 16th, 2022
Despite the potential Saphyr, Punchzee, and Paranotek demonstrate, the Astra Veda Corporation (OTC Expert Market: ASTA) remains in the expert market. According to the company’s statement regarding its tier change, ASTA “provided qualifying disclosure requirements to meet “Pink Limited” before the 28 September SEC deadline”. However there was a defect in their paperwork which was corrected on the 27th.
As a result, the Astra Veda Corporation shared that unless it “is provided detailed notification otherwise, we will continue to assert to our shareholders that there are no disqualifying defects and expect to be placed in the Pink Limited Tier as soon as OTC Markets Group has reviewed our disclosures”.
To mark the end of the year, ASTA’s Chairman and CEO – Mick Davis – shared an optimistic update with the company’s shareholders. The letter touched on work done to customize Punchzee for several high value prospect verticals, Ballistic Barrier Products, Inc. recent capital raise, and the company’s relationship with the National Association of Women in Construction.
Davis also commented on the company’s efforts to launch their new external compliance team which would be working to resolve “any GAAP issues that may exist between us and the OTC Markets Group”. According to their statement, once ASTA has its proper financials completed and filed, along with an amended disclosure statement, the OTC Markets will recognize it as compliant.
ASTA has also shared that it would “be engaged in civil court to recover shareholder value stolen in previous bad acts”. The goal of this legal action is to “recapture” more than two billion shares of discounted toxic convertible notes issued between 2016 and 2019. Meanwhile, no official update has been given regarding ASTA’s subsidiaries.
Saphyr – a direct peer to peer messaging service – appears to have a patent pending for its unique end-to-end encryption protocol which makes Sayphr the only quantum computer resistant messenger app. The beta version appears to still be under development at this time.
Given the recent push for cybersecurity legislation, Paranotek – an international startup using Finnish technology – could see higher demand thanks to its range of products dealing with data storage, sharing, and instant messaging using disruptive security technology. Unlike other popular apps, Paranotek’s data storage and communications services do not collect or store any private information and is “virtually impenetrable” thanks to its technology.
This ties into CEO Mick Davis’ lengthy experience as an expert in cyber warfare subject matter for the Army and as Chief Technology Advisor for ETS Capital, Senior Advisor for USCYBERCOM, and Chief Executive Officer of other US-based privacy and security companies. It is also worth noting that Davis helped found High-Speed Access Corporation which had a $2 billion IPO on the NASDAQ before Charter Communications purchased the company a year later.
Meanwhile, ASTA’s third and possibly most promising subsidiary – Punchzee – has completed over 1,400 projects and performed over 95,000 tasks for companies of all sizes in the construction and maintenance industries. Several updates were done to the app which remains available on the Google Play and App Store.
Offering a new way to simplify workflow, the Punchzee App automates reporting using advanced data filtering tools and report generators. Project performance is displayed in real-time and users are able to communicate with subcontractors and clients in the moment to resolve issues immediately and stay on schedule. Punchzee’s team also attended the International Builders’ Show in February to demonstrate the app’s range of abilities for potential clients.
Considering that the company’s official Twitter account restricts who can see its posts, the company’s communication and transparency is notably low. Many investors are holding out for ASTA stock to become pink current, but there has yet to be a public update on this matter.
*Updated August 23rd, 2022
Still trading in the Expert Market, ASTA has taken steps to become Pink Current as it added the president of its accounting firm – Eventus Advisory Group, LLC – to its OTC profile as an advisor to its board. Reithinger is a well-respected figure in the OTC thanks to his involvement with several companies which had issues similar to ASTA. Considering that Eventus had been ASTA’s accounting firm long before Reithinger’s addition as an advisor, many investors are bullish this appointment will facilitate direct talks with the OTC Markets to resolve ASTA’s situation. In light of this, ASTA could be on track to submit its disclosures with the OTC Markets by EOY.
Meanwhile, the company has made its official Twitter account open to the public – a move which supports greater transparency for its shareholders.
*Updated December 2nd, 2022
After finally posting its 2021 annual report, ASTA stock is gaining investors’ attention after the company left the Expert Market and became Pink Limited. In this way, ASTA is set to become available for US traders to buy which could result in the stock witnessing an influx of new investors who have not been able to invest in the company. Now that the company is Pink Limited, investors are bullish ASTA could become Pink Current soon as it could post its quarterly reports in the near future. As the company is able to move forward with its plans, ASTA promised to roll out updates regarding its upcoming endeavors over the coming weeks. In light of this, ASTA stock is one to watch closely this month as it could reach new highs.
With this in mind, ASTA assured its shareholders that it has no intention to effect a reverse split or dilute its shares. At the same time, the company intends to reduce its AS as a part of its 2023 securities structure rehabilitation plan to protect its shareholders’ value. Considering the company’s advanced technologies, ASTA stock could be one to hold onto in anticipation of updates regarding its business.
*Updated June 1st, 2023
In its latest shareholders meeting on May 25, ASTA unveiled that it received a new patent. This new patent is related to Ballistic Barrier Production’s new anti-ballistic barrier with an extendable retention system. As a lightweight and easy to install product, it could witness high demand given that it could be installed in several ways suiting different interior settings and situations.
The main driver for this demand would be the extreme rise in crime rates and mass shootings in the US. During 2023, there have been more than 300 shootings, and as a result, individuals may look to further secure themselves and their families. Thanks to the waning sense of security, ASTA may be poised for record revenues this year since it also offers ballistic-resistant window shades and door shades. Based on this portfolio of products, ASTA may be set to realize substantial revenues in 2023 which could send ASTA stock soaring from current levels.
*Updated July 27th, 2023
With the company currently Pink Limited, ASTA could regain its Pink Current status in the coming days after the company successfully filed its late Q1 earnings. With this in mind, the company stated that an attorney letter is not required for the anticipated tier upgrade which means that the company’s return to Pink Current should not take much time.
Meanwhile, the company shared that it intends to permanently return to Pink Current indicating that shareholders should expect the company to file its upcoming filings on time to avoid finding itself in a similar situation. For these reasons, ASTA stock could be poised to run once it regains Pink Current status – making it one to watch closely this week.
*Updated August 7th, 2023
As things stand, ASTA is set to release a press release once a week for the next 3 to 4 months. Given ASTA’s wide range of operations, these press releases could be about a litany of topics from additional Ballistic Barrier Production patents to promising Punchzee updates. Other potential press releases could be about opportunities brought about due to its audit status like uplisting to the OTCQB or NASDAQ. That said, the company has been hinting at a major deal that could potentially be revealed in one of the upcoming press releases.
Given the context, ASTA is likely to enter a military contract with a new NATO member. As of the time of this writing, there are only 2 new NATO members – Sweden and Finland. Each of these countries has substantially increased its military spending amidst growing instability in Europe. Sweden increased its military spending by 17.3% YoY while Finland recorded a staggering YoY increase of 36%.
A likely scenario for this deal is that Finland, due to its shared border with Russia, may be seeking to substantially increase its investment in anti-ballistic technology. ASTA’s subsidiary Ballistic Barrier Production, which is well known for its bulletproof technology, could possibly be one of many companies that the Finnish military is seeking a contract with to increase its anti-ballistic stockpile. If this scenario, or a similar scenario comes to pass, ASTA Stock could experience a substantial surge in response.
*Updated August 16th, 2023
Keeping its promise of becoming Pink Current permanently, ASTA released its Q2 earnings. In this report, the company shared some exciting announcements which may see the stock run over the course of this week. With this in mind, the company shared in its Q2 report that it is seeking to reduce its outstanding shares by creating a distinctive category of cash dividend-generating preferred shares that will not be eligible for conversion back into common shares.
Another exciting development is that the company is preparing to start its PCAOB audit stage to become fully SEC reporting. On that note, ASTA shared that it has the data required for its 2-year audit thanks to its partnership with Eventus Advisory Group. This means that the company will not face any obstacles during its audit which should see the process be concluded in less time than usual.
At the same time, ASTA reiterated its goal of eventually uplisting to the NASDAQ and promised not to effect any reverse splits until listing on NASDAQ. In this way, the company is showing its commitment to protecting its shareholders’ value while positioning itself for long-term success. In light of these promising plans, going long on ASTA stock may prove to be profitable for long-term investors.
ASTA Stock Financials
2021 Earnings
In 2021, ASTA reported $703.8 thousand in assets including $634.2 thousand in cash – representing a YOY increase from $381.1 thousand and $351.8 thousand respectively. However, ASTA grew its liabilities over the same period from $608.4 thousand to $819.6 thousand. Meanwhile, ASTA reported substantial growth in revenues as the company realized $911.2 thousand in 2021 compared to only $50 thousand in 2020. However, operating costs increased to $850.4 thousand from $482.3 thousand in 2020. All in all, ASTA reported a net profit of $111.5 thousand which is promising for a growing company like ASTA. Given that the company has no history of dilution and no convertible debt, ASTA stock could be an attractive long-term investment for many investors.
2022 Earnings
According to its 2022 annual report, ASTA’s assets decreased YoY from $703.8 thousand to $398.8 thousand. Meanwhile, its cash balance sharply sank from $634.2 thousand to $66.3 thousand. On the other hand, liabilities ballooned from $819.6 thousand to $1 million.
In terms of revenues, ASTA witnessed a YoY decline from $911.2 thousand to $685 thousand. To make things worse, its expenses rose substantially from $850.4 thousand to $1.2 million. As a result of these drastic changes, ASTA’s net income of $111 thousand in 2021 turned into a net loss of $508.6 thousand.
Q1 2023
According to its Q1 2023 report, ASTA’s assets substantially increased QoQ from $398 thousand to $1.2 million. This increase is largely due to its cash balance increasing from $66 thousand to $343 thousand, $200 thousand in receivables related to Simple Agreements for Future Equity (SAFE), and $175 thousand worth of investments. That said, liabilities stayed relatively unchanged at around $1 million.
In terms of revenue, ASTA reported a YoY decline from $165 thousand to $150 thousand. Meanwhile, operating costs increased from $296.1 thousand to $419.4 thousand which led to an operating loss of $269.4 thousand. Based on this, the company’s net loss widened YoY from $115.6 thousand to $247.9 thousand.
Q2 2023
Looking into ASTA’s Q2 2023 report, the company’s assets increased substantially from $398.8 thousand at the beginning of the year to $1 million. This increase is mainly attributable to the increases in its accounts receivable from $50 thousand to $300 thousand as well as reporting $350 thousand in investments. Meanwhile, the company’s liabilities slightly increased over the same period from $1 million to $1.1 million due to the increase in accrued expenses from $773.4 thousand to $853.3 thousand which are expenses that will be paid by the company in the future.
In terms of revenues, ASTA’s revenues remained flat YoY at $150 thousand, however, operating costs increased from $278.5 thousand to $366.2 thousand. This led the company to report a net loss of $193.8 thousand – an increase from $106 thousand a year ago.
Media Sentiment
@cdntradegrljenn is bullish on ASTA’s marketing strategy.
@ChaseMacTrades is excited about ASTA’s stream of PRs.
Technical Analysis
ASTA stock is in a neutral trend with the stock trading in a sideways channel between $0.0045 and $0.0061. Looking at the indicators, the stock is currently trading below the 50 and 21 MAs which is a bearish indication, but above the 200 MA which is a bullish indication. Meanwhile, the RSI is neutral at 42 and the MACD is starting to curl bullishly.
As for the fundamentals, ASTA stock may soar this week given the bullish news the company shared in its Q2 earnings. In addition, the company is preparing to share its third weekly PR next week which could act as a major catalyst since it could be related to a deal with the Finnish military. With the stock trading near support, bullish investors could find the current PPS as a good entry point ahead of the company’s upcoming PR.
ASTA Stock Forecast
Given the updates ASTA shared in its Q2 earnings, the stock may be poised to run this week. With the company planning to reduce its shares through the introduction of a new cash dividend-paying preferred share series, it has shown commitment to protecting its shareholders’ value. At the same time, the company’s plans to start the 2-year audit process to become fully SEC reporting is a bullish sign that the company’s goal of uplisting to NASDAQ may be soon. Meanwhile, the company’s PR scheduled for next week may see the stock soar given its potential to be regarding a deal with the Finnish military. For all of these reasons, ASTA stock may be one of the promising OTC stocks to hold onto for the long term.
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