This pick, Boxlight Corporation ran for a
Below is an
exact copy of our
penny stock pick
report from July 7,
"Conclusion" at the
bottom of the
report, we stated:
"We believe BOXL can at least double from these levels...we think BOXL will be a winner by the end of 2020."
The stock did
even better than
SEVEN TRADING DAYS
$4.65 on July
gains of over
Penny Stock Pick for
July 7, 2020
1045 Progress Circle
Lawrenceville, GA 30043
Current Price (Close on July 6, 2020):
Short Term Target:
$1.20 - $1.40
Long Term Target:
$1.55 - $1.90
Boxlight Corporation, an education technology company, develops, sells, and services interactive classroom solutions for the education market worldwide.
BOXL provides a range of interactive classroom technology products primarily targeted at the K-12 education market. Its products include interactive projectors, interactive flat panel displays, interactive touch projectors, touchboards, and MimioTeach that could turn any whiteboard interactive; and accessory document cameras, teacher pads for remote control, and assessment systems.
BOXL also offers MimioStudio Interactive Instructional Software that enables the creation, editing, and presentation of interactive instructional lessons and activities; MimioMobile, a software accessory for MimioStudio; Oktopus Instructional and Whiteboarding Software that enables the creation, editing, and presentation of interactive instructional lessons and activities; Notes+, a software accessory for use with Oktopus software; and GameZones and MimioInteract, which are multi-student interactive gaming software.
In addition, it offers interactive touch tables and whiteboards; and peripherals and accessories, such as amplified speaker systems, mobile carts, installation accessories, and wall-mount accessories for interactive and standard projectors, and LED flat panels.
Further, BOXL distributes interactive projectors and LED flat panels; and science, technology, engineering, and math data logging and robotics products. BOXL was formerly known as Logical Choice Corporation.
Boxlight Corporation was incorporated in 2014 and is headquartered in Lawrenceville, Georgia.
Boxlight Introduces MimioConnect
Last month, BOXL announced the release of MimioConnect, a cloud-based teaching and learning platform that helps teachers streamline lesson delivery in remote and blended classrooms.
MimioConnect combines innovative lesson building and instructional tools to create an active learning environment. Teachers and students can connect from anywhere making this a perfect solution for distance teaching and blended learning environments. Lessons can be presented to a group of students or assigned for individual, self-paced learning. Boxlight’s goal is to help maintain continuity throughout all learning environments and create pathways to keep the routes to learning open and consistent without disruption.
MimioConnect integrates with the most commonly used platforms in education including Google Classroom, Microsoft 365, Schoology, Canvas, Moodle and Blackboard. Teachers can use existing content such as PowerPoint or PDF documents, or import interactive lessons created using Smart Notebook, Promethean ActivInspire, MimioStudio and Oktopus.
Using the platform, educators can monitor student progress in real-time on all self-paced activities, allowing teachers to quickly and easily adjust instruction as needed. Results can be exported for use in other platforms.
"We are excited to launch the MimioConnect platform during a time when there is so much uncertainty about how class will be conducted going into the 2020-2021 school year," says Darin Beamish, VP Software Boxlight. "Our development team has worked tirelessly to create a solution that will meet the needs of school districts, teachers and students that follows a blended learning model, includes assessment and provides student monitoring. This solution is simple to use, integrates with existing LMS solutions, allows users to use existing lesson content and works with existing technology. This solution can be implemented immediately and used in the upcoming school year."
MimioConnect's Interactive Teaching Community
Clayton County Schools Expands Partnership With BOXL
In early June, BOXL announced that Clayton County Public Schools ("CCPS"), Georgia’s fifth-largest school district, will continue to work with BOXL’s Professional Services division, Boxlight-EOS Education.
The partnership will provide expanded professional training services and programs to the district during the 2020-21 academic year. Boxlight-EOS’ comprehensive online, onsite, and consultancy training for CCPS educators within its Mimio whole-class learning solution will expand to include integration with G-Suite, the district’s Extending Learning Beyond the Classroom platform. Additionally, Boxlight-EOS will support CCPS in preparing teachers for the district-wide Chromebook deployment. The professional training related to the ELBC deployment and G Suite is a CCPS initiative to strengthen student achievement and engagement with both face-to-face and online learning.
In Spring 2018, Boxlight was the chosen solution for an $18 million digital classroom refresh project in CCPS; to install its innovative Mimio classroom solution in approximately 3,200 classrooms; comprised of 38 elementary, 15 middle and 12 high schools. The installation was completed at the end of February 2019. Since that time, Boxlight has continued to partner with the district to support educators and administrators in the effective integration of technology to support standards and instructional priorities.
"CCPS and Boxlight have taken our partnership to another level in response to continuity of learning requirements due to school closures," said Boxlight-EOS CEO Dr. Aleksandra Leis. "The EOS program will continue to provide Clayton County Public Schools' teachers with the training and ongoing support to help them learn the skills and tools they need to feel comfortable and confident delivering lessons in every possible scenario; in the classroom or online."
New Distribution Partnership With Edubytes
Also last month, BOXL and Edubytes, a Boxlight channel partner in Mexico specializing in the education market, today announced a distribution agreement with CT Internacional del Noroeste.
CT International is one of the largest and preferred IT distributors in Mexico, with 27 years in the market, 52 branches, and more than 33,000 value-added resellers. Its mission is to raise the competitiveness and productivity of individuals and organizations to reach their full potential using technology.
This partnership will allow Boxlight to further expand in the Mexican market by facilitating access to integrated, easy-to-use technology solutions for educational institutions, and by providing new business opportunities to CT International’s channels by selling comprehensive, differentiated, profitable and value-added solutions.
"CT International has a robust distribution strategy supported by extensive marketing and training resources. In partnership with Edubytes, we will ensure excellence in service, competitive prices, availability, and local support for CT's distribution channels and staff members," says Ricardo Peña, Executive Vice-President to Latin-America, Boxlight. "We want to help improve education in Mexico by allowing education institutions to maximize their investment in technology, help teachers use new technology to facilitate their job, and boost student outcomes. We are pleased with this new partnership."
"Our commitment is to bring the best options for doing business within the IT industry to our 33,000 business partners," says Saúl Rojo, CEO of CT International. "The partnership with this major manufacturer strengthens the portfolio of products, solutions and services. We are confident that the Boxlight and Edubytes offer will be as attractive to them as it is to us."
$10 Million Supply Agreement
In late May, BOXL announced it has entered into a supply agreement and strategic partnership with CEC Finance and Logistics to provide up to $10 million of Boxlight hardware solutions in multiple US warehouses.
The agreement between Boxlight and CEC will provide Boxlight solutions, including interactive flat panel displays, in warehouses located in Los Angeles and New Jersey, tightening delivery times and increasing just-in-time delivery to customers throughout the US. The partnership will also increase efficiencies for shipping and logistics and decrease overall freight costs to customers.
"We are committed to meet the inventory demands of our business and effectively fulfill customer orders," said Hank Nance, COO Boxlight. "This partnership allows us to continue to scale our company by providing our solutions in various locations while reducing travel time and shipping costs. We are very excited about this partnership, and most importantly, improving our customer experience."
Back in late April, BOXL announced it has closed the acquisition of Robo 3D, a leading brand of 3D printers, and MyStemKits, the largest online collection of K-12 STEM curriculum for 3D printing. The purchase price was approximately $600,000 in the form of cash, assumed liabilities and a note payable.
"The addition of Robo 3D and MyStemKits supports our strategic expansion of solutions for K-12 classrooms, and our specific focus on STEM education," said Michael Pope, CEO of Boxlight. "3D printing is a foundational STEM technology that students of today can leverage in their future professions. We are now uniquely positioned to offer a comprehensive suite of STEM solutions, complete with our Labdisc portable STEM lab, Mimio Mybot robotics and coding solution, STEM specific training and professional development, and both the Robo 3D and MyStemKits branded 3D printing hardware and curriculum."
The acquisition also brings additional management talent to Boxlight including Ryan Legudi as Senior Vice President of STEM Solutions and Braydon Moreno as Director of STEM Solutions.
"Our team is excited to join Boxlight and embark on the next stage of growth as a core component of their industry-leading STEM solutions offering. Boxlight is one of the pre-eminent brands in education technology, with a reputation founded on premium quality products and innovative solutions. We share the same philosophical approach to education technology: providing a true end-to-end seamless solution encompassing hardware and software complemented by robust training and professional development, and hands-on customer support. 3D printing is one of the bedrocks of STEM education, which is a major theme for education across the world. We see significant potential to not only expand our business in the USA, but also internationally through Boxlight’s vast international distribution network."
Back in May, BOXL announced BOXL's financial results for the first quarter ended March 31, 2020.
Key Financial Highlights for Q1 2020
► Revenues increased by 15% to $5.7 million
► Customer orders increased by 85% to $7.6 million
► Gross profit decreased by 568 basis points to 28%
► Operating loss increased by 14% to $2.7 million
► Adjusted EBITDA loss improved by 41% to $1.0 million
► Adjusted EPS improved by 51% to a loss of $0.08
► Ended quarter with $4.5 million in backorders
Key Business Highlights for Q1 2020
► Selected by Shelby County Schools, Tennessee as approved provider of interactive flat panel displays
► Received $750,000 follow on investment from The Lind Partners
► Awarded district-wide contract for interactive flat panels in Netherland Independent School District, Texas
► Implemented Mimio MyBot educational robotics system with the Giant Moon Map™ and Giant Mars Map™programs in Union County Public Schools, North Carolina
► Announced Daniel Leis as Global Head of Sales and Marketing
► Announced Michael Pope as Chairman and Chief Executive Officer
► Entered into national distribution agreement with D&H Distributing
Chief Commercial Officer and Director
Mark Elliott Mr. Elliott has served as our Chief Executive Officer and a director since September 18, 2014. From 2012 to date, he has also served as the President of Genesis. From 2005 through 2012, he was the President of Promethean, Inc., a manufacturer and distributor of whiteboards and interactive learning devices and led the team that grew Promethean in the Americas from $5 million in revenue to $250 million, with over 1,300,000 interactive whiteboards installed around the world. Throughout his career, Mr. Elliott has held senior executive roles, including president, senior vice president or director roles with Apple Computer, Lawson Software, E3 Corporation, PowerCerv Technologies, Tandem Computers, and Unisys/Burroughs. Mr. Elliott received a BBA in Economics from the University of North Georgia and a Master of Science degree in Industrial Management from Georgia Institute of Technology. Based on Mr. Elliott’s position as the chief executive officer of both the Company and Genesis, and his executive level experience in interactive learning devices and computer technology industries, our board of directors believes that Mr. Elliott has the appropriate set of skills to serve as a member of the board.
President and Director
Michael Pope Mr. Pope has served as our President since July 15, 2015 and has been a director of our Company since September 18, 2014. Mr. Pope served as Managing Director of Vert Capital Corp., a Los Angeles based merchant bank, and its affiliates from October 2011 to October 2016, managing portfolio holdings in education, consumer products and digital media. Prior to joining Vert Capital, from May 2008 to October 2011, Mr. Pope was Chief Financial Officer and Chief Operating Officer for the Taylor Family, managing family investment holdings in consumer products, professional services, real estate and education. Mr. Pope also held positions including senior SEC reporting at Omniture and Assurance Associate at Grant Thornton. Mr. Pope holds an active CPA license and serves on the boards of various organizations. Mr. Pope earned his undergraduate and graduate degrees in accounting from Brigham Young University with academic honors.
This week we saw several companies that might benefit from the recurring lockdowns due to the coronavirus. However, we never look for a one-trick pony and our picks have to have several fronts they're working on.
BOXL is one of those. Yes, they should benefit from the lockdowns, but they're a great company without it.
It's already coming to the second week of July. Some schools regularly start in early August. Our daughter's school was thinking of startin 1-2 weeks earlier to make up for lost time this Spring.
The big question is... Will schools have full classes like normal, or will they stay online with distance learning techniques. Well, it doesn't really matter. Becuase we're seeing lockdowns returning across the country, school districts have no idea if they can start regular sessions in the Fall. They cannot wait. They need to prepare for the worst and hope for the best.
There have been many articles about potential delays in opening (if opening at all) the school year and here at The Cut and here at CNN, you can read about the worry.
That's where BOXL can help. BOXL not only sells interative in-school technologies and software to keep kids engaged, they also help with distance learning and making everything as seamless as possible.
BOXL is growing and has been for some time. In our opinion, they've raised all the cash they need for the rest of this year, so we don't expect any dilution at these levels. BOXL is working its tail off getting its systems into schools it already has a relationship with and using those relationships to expand their footprint.
If BOXL can do what we believe they can, they can make a name for themselves very, very quickly and help schools and school districts prepare for the worst. Because it looks like nobody is sure whether or not schools will all be in session as usual, they will be updating and upgrading the systems that they have. With this new school year, districts can no longer afford to use Zoom to get through the end of the school year. They need something to hang their hat on and to prepare for other learning avenues.
We believe BOXL can at least double from these levels, but it will be a bumpy ride. BOXL is small, but they are agile. They will need to make a few wins to prove themselves. When they do, the gates will open. It's a risk as many small companies will big opportunities trip up, but we think BOXL has the vision. Be prepared to see the stock bounce widely, but we think BOXL will be a winner by the end of 2020.