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Wednesday, October 28, 2020

A Wild Ride for Sport Endurance Inc (OTCMKTS:SENZ)

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Sport Endurance Inc (OTCMKTS:SENZ) is a micro cap stock that just jumped on the radar. Often smaller public companies are about the management team and specifically the CEO, this looks to be the case with SENZ and it’s CEO David Lelong. A close look at his background shows that success has little to do with the product itself, but has more to do with the growth ramp of the industry and his or her ability to run the business.

I looked at the trading in 2017 and there is nothing compelling in the chart, and if you look below you can see it has been trading with spotty liquidity and has not attracted the algorithm market makers it needs. Shares have declined in 2017 from $2.00 to the recent lows and are having a nice volume bounce today retracing much of the decline (about 38%) signaling a bottom may be in place. Best to learn about what they do, who is running the company, and the banker.

Sport Endurance Inc (OTCMKTS:SENZ) recently announced the launch of a new pre-workout nutritional supplement product called Sports Leg and Lung Formula. The product is a pre-workout drink powder that is designed to boost performance for active adults across a number of athletic activities. According to a 2016 report published by Grand View Research, the dietary supplements market is expected to reach $278 billion by 2024 with sports nutrition expected to be worth $37 billion. This market has wind at it’s back.

“I’m excited to offer Sports Leg and Lung Formula directly to consumers who are looking to optimize their workouts,” said Sport Endurance CEO, David Lelong. “This product is formulated to help people get a boost in their workouts while experiencing less fatigue.”

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On the banking side a year ago the company announced an important step leading to today’s news when it has issued Senior Secured Convertible Notes to institutional lenders for an aggregate principal amount of $440,000 in accordance with the terms of a Securities Purchase Agreement. This cleaned up the balance sheet.

“This is an important step toward executing our direct to consumer supplement marketing strategy, and I look forward to communicating more milestones to our shareholders,” said Sport Endurance CEO, David Lelong.

The Notes bear interest at 10% per annum, can be pre-paid at a premium, and mature six months from issuance. At the option of the Lenders, the principal and accrued interest can be converted into Shares at $0.50 per share. The Notes are secured by a first lien on all assets of the Company. The Lenders did not receive any registration rights and all Shares including those issuable upon conversion of the Notes must be held for at least six months. The Lenders also received 200,000 shares of restricted Common Stock of the Company. The proceeds from the financing were used to launch an enhanced line of men’s health nutritional supplements, and working capital purposes.

A final piece to look at is CEO Lelong who has run businesses before. Below are some bullets from his resume. Highlighted by a stint at Yahoo and he also sports a Wharton pedigree.

  • 15 years experience helping companies transform business ideas to products for generating revenue and growth.
  • Through his consulting company, David has helped numerous businesses and entrepreneurs develop products and sales channels that could be scaled using Internet marketing.
  • Formerly the Director of Web Site Products at LexisNexis Martindale-Hubbell, David ran a $12MM business within the company that provided small law firms with web site solutions to better market their practices online.
  • Prior to this role, David held senior product management and product marketing positions at iCrossing, Yahoo!, and HotJobs.com where he successfully led cross-functional teams to bring multiple technology and service offerings to market.
  • David holds a dual-degree in Management & Technology from The Wharton School and the School of Engineering and Applied Sciences at the University of Pennsylvania.

Hopefully answering these 3 questions gives readers some comfort in Sports Endurance, but this will be a stock you need to babysit until it gets liquidity.  The encouraging thing about owning shares is when it moves higher there are not many seller’s, the initial selling looked to be an exit where the sole purpose was turning the tradable shares into cash at whatever the cost.

Exiting shares of SENZ in 2017 has been hard to do if you are not a professional trader, and this is an illiquid market, and smacks of an amateur unwinding.

The thing to do here with Sport Endurance, Inc. (OTCMKTS:SENZ) is to stand back and watch them trade back to logical retracements and see if they have issues there, and some volume arrives. The company develops, markets, and distributes nutritional supplement products throughout the United States. They are in the right market as health and wellness is a sector with big upside. For continuing coverage on shares of $SENZ stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

 

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