Daily Stock List
Research Solutions, Inc. (RSSS)
Wall Street Resources reported earlier on Research Solutions, Inc. (RSSS), and today we are highlighting the Company, here at the QualityStocks Daily Newsletter.
Research Solutions, Inc., and its wholly-owned subsidiary Reprints Desk, Inc., are innovators in providing on-demand access to scientific, technical, and medical (STM) information for life science companies, academic institutions, and other research intensive organizations. Incorporated in 2006, the Company previously went by the name Derycz Scientific, Inc. It changed its name to Research Solutions, Inc. in March of 2013. Research Solutions is based in Encino, California.
The Company’s cloud based software-as-a-service (SaaS) solution is called Article Galaxy. Article Galaxy provides customers with access to greater than one million newly published articles annually, in addition to the tens of millions of existing articles, which have been published in the past. Research Solutions helps its customers create and speed discoveries, save time and money, as well as remain copyright compliant. The Company’s customers include 70 percent of the top 25 pharmaceutical companies in the world.
Research Solutions has arrangements with many STM content publishers that permit electronic access and distribution of their content. The Company’s Article Galaxy lets customers find and download, in digital format, STM articles that are critical to their research. Furthermore, Research Solutions provides assorted printed copies of published STM journals; and ePrint software to enhance the efficiency of customers’ content purchases.
Industry partners Research Solutions and The Research Investment (TRI) have completed the transition of TRI's article delivery customers onto the Article Galaxy™ platform operated by Reprints Desk®, the wholly-owned Research Solutions subsidiary. The Research Investment (TRI) is a marketing and business research firm. TRI is a top provider of research retrieval services. The TRI customers acquired by Reprints Desk consist of a number of Fortune 500 companies, including two of the Fortune 10. They increase Reprints Desk's market penetration of the energy and chemicals sectors.
In December 2015, Research Solutions announced that its wholly-owned subsidiary Reprints Desk was named to the EContent 100 List published by EContent Magazine for the sixth consecutive year. EContent Magazine's annual 100 List highlights companies that matter most in today's digital content industry. The annual 100 List is compiled by judges, including Information Today, Inc. editors, EContent contributing editors, as well as other experts in the digital content industry.
Research Solutions, Inc. (RSSS), closed Tuesday's trading session at $0.9877, down 1.23%, on 2,000 volume with 1 trade. The average volume for the last 60 days is 50,147 and the stock's 52-week low/high is $0.4901/$1.21.
FreeSeas, Inc. (FREEF)
Today we choose to report on FreeSeas, Inc. (FREEF), here at the QualityStocks Daily Newsletter.
FreeSeas, Inc., by way of its subsidiaries, provides drybulk shipping services. The Company is a premier, international commercial shipping company transporting iron ore, coal, grain, steel products and other drybulk cargoes along global shipping routes. The Company previously went by the name Adventure Holdings S.A. It changed its name to FreeSeas, Inc. in April of 2005. Established in 2004, FreeSeas is based in Athens, Greece. Incorporated in the Marshall Islands, the Company lists on the OTC Markets Group’s OTCQB.
FreeSeas’ fleet consists of four Handysize vessels. Two are owned and two are bareboat chartered that carry an array of drybulk commodities. This includes iron ore, grain and coal, which are referred to as “major bulks”, and also bauxite, phosphate, fertilizers, steel products, cement, sugar and rice, or “minor bulks”. The aggregate dwt (deadweight tonnage) of the Company’s operational fleet is 101, 201 dwt and the average age of its fleet is 19 years.
Under spot charters, FreeSeas pays voyage expenses such as port, canal, as well as fuel costs. Under period time charters, the “charterer” pays the voyage expenses. Under spot charters and period time charters, FreeSeas is responsible for vessel operating expenses. This includes crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance, and also repairs.
In addition, the Company is responsible for each vessel's intermediate drydocking and special survey costs. The exception to this practice is called a "bareboat contract". This is where the charterer is responsible for the vessel's maintenance and operations, and all voyage expenses.
FreeSeas states that it is continually evaluating opportunities for period time charters. However, the Company only expects to enter into additional period time charters if it can obtain contract terms that satisfy its criteria.
FreeSeas says that its investment and operational emphasis has been in the Handysize sector (generally defined as less than 40,000 dwt of carrying capacity) and the Handymax sector (generally defined as between 40,000 dwt and 60,000 dwt). The Company believes Handysize and Handymax vessels are more versatile in
the kinds of cargoes they can carry and trade routes they can follow, and offer less volatile returns than larger vessel classes. In addition, FreeSeas believes this segment offers better demand and supply demographics than other drybulk asset classes.
FreeSeas, Inc. (FREEF), closed Tuesday's trading session at $0.20, down 37.40%, on 199,819 volume with 124 trades. The average volume for the last 60 days is 86,605 and the stock's 52-week low/high is $0.12/$3.00.
BAB, Inc. (BABB)
OTC Markets Group, Zacks, Greenbackers, and SmallCapVoice reported on BAB, Inc. (BABB), and today we highlight the Company, here at the QualityStocks Daily Newsletter.
BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin®, SweetDuet® frozen yogurt and Brewsters’® Coffee. At February 29, 2016, the OTCQB-listed Company had 84 franchised and 3 licensed units. In addition, BAB engages in the sale of bagels, muffins, and coffee via nontraditional channels of distribution, including under licensing agreements. BAB has its corporate head office in Deerfield, Illinois.
BAB garners its revenues mainly from the ongoing royalties paid to it by its franchisees and receipt of initial franchise fees. Furthermore, it receives revenue from the sale of licensed products (My Favorite Muffin mix, Big Apple Bagels cream cheese, Big Apple Bagels frozen bagels, and Brewster's coffee). Royalty fees represent a 5 percent fee on net retail and wholesale sales of franchised units. BAB earns a licensing fee from the sale of BAB branded products from a third-party commercial bakery, to the franchised and licensed units.
The Company’s nontraditional channels of distribution are Kohr Bros. and Green Beans Coffee. Also included in licensing fees and other income is Operation's Sign Shop revenue. The Sign Shop provides the bulk of signage. This includes but is not limited to, posters, menu panels, outside window stickers, as well as counter signs to franchisees to provide consistency and convenience.
The Company’s Big Apple Bagels is a national chain of fast-casual restaurants. BAB’s My Favorite Muffin is a national chain of fast-casual restaurants with hand-crafted products. BAB’s SweetDuet® is a Duet Yourself® frozen yogurt bar. It includes a full offering of gourmet muffins.
Moreover, BAB’s Brewsters' Coffee® hand picks only the top 2-3 percent of Arabica beans from around the globe. Brewsters’ hand roasts its beans in small batches. BAB’s also has Jacobs Bros. Bagels. Available are frozen raw dough and par-baked varieties.
In November 2015, BAB Systems, Inc., the franchising subsidiary of BAB, announced the opening of a new Big Apple Bagels in Dubai, United Arab Emirates (UAE). The Dubai store is the first to open under BAB’s Master Franchise Agreement with Mont Royal General Trading LLC for the development of Big Apple Bagels stores across the Middle East. The location of the store is in Wafi Mall, Wafi City, Dubai. Wafi is considered one of Dubai’s top luxury malls, including more than 350 shops and in excess of 30 restaurant concepts from around the world.
Recently, BAB announced its financial results for Q1 ended February 29, 2016. For the quarter ended February 29, 2016, the Company had revenues of $581,000 and net income of $89,000, or earnings of $0.01 per share, in comparison to revenues of $492,000 and a net loss of $246,000, or a loss of $0.03 per share for the quarter ended February 28, 2015.
BAB, Inc. (BABB), closed Tuesday's trading session at $0.57, even for the day, on 65 volume with 1 trade. The average volume for the last 60 days is 8,529 and the stock's 52-week low/high is $0.5201/$0.74.
Boston Therapeutics, Inc. (BTHE)
RedChip, TaglichBrothers, and Stock News Now reported earlier on Boston Therapeutics, Inc. (BTHE), and today we choose to report on the Company, here at the QualityStocks Daily Newsletter.
OTC BB-listed Boston Therapeutics, Inc. is a developer of complex carbohydrate therapeutics to treat diabetes and inflammatory diseases. The Company’s product pipeline centers on developing and commercializing therapeutic molecules that address diabetes and inflammatory diseases. Moreover, the Company developed and markets SUGARDOWN®. This is a non-systemic, complex carbohydrate-based dietary food supplement. The design of SUGARDOWN® is to support healthy blood glucose. Boston Therapeutics is based in Newton, Massachusetts.
The Company’s product pipeline includes BTI-320. This is a non-systemic, non-toxic, chewable complex carbohydrate-based compound. The design of it is to reduce post-meal glucose elevation. BTI-320 is a proprietary polysaccharide. It is to be taken before meals. BTI-320 works in the gastrointestinal tract to block the action of carbohydrate-hydrolyzing enzymes, which break down complex carbohydrates into simple sugars, lessening the availability of glucose for absorption into the bloodstream.
Boston Therapeutics has entered into a clinical trial agreement with Joslin Diabetes Center to be the lead clinic in a Phase II study of BTI-320. In addition, the Company’s product pipeline includes IPOXYN™. This is an injectable anti-necrosis drug. The design of it initially is to treat lower limb ischemia associated with diabetes. IPOXYN™ consists of a stabilized glycoprotein composition containing oxygen-rechargeable iron, targeting human and animal tissues and organ systems deprived of oxygen and in need of metabolic support.
The Company’s product pipeline also includes OXYFEX™. This product can serve as the only available oxygen delivery mechanism for animals suffering ischemia or traumatic and surgical blood loss events.
Boston Therapeutics announced in 2015 that its affiliate, Advance Pharmaceutical, initiated the SUGARDOWN® clinical trial in Hong Kong. Advance Pharmaceutical is evaluating the effect of SUGARDOWN® on Post-Prandial Hyperglycemia in Chinese subjects with Pre-Diabetes. The lead clinical site is the Department of Medicine, The Chinese University of Hong Kong (CUHK), Prince of Wales Hospital.
Boston Therapeutics announced in September 2015 that Advance Pharmaceutical is conducting the above-mentioned clinical trial at The Chinese University of Hong Kong (CUHK) to evaluate BTI-320 in subjects who are pre-diabetic. The interim clinical analysis in the proof of concept trial demonstrate up to 77 percent reduction in Glucose and up to 27 percent in Fructose.
In late December 2015, Boston Therapeutics released final trial results from its proof of concept (POC) Sydney University study, which showed consumption of SUGARDOWN® tablets before sugary beverages was found to considerably decrease the postprandial glucose, fructose, and insulin responses to the sugary soft drink beverage. Every subject had a favorable response.
Boston Therapeutics, Inc. (BTHE), closed Tuesday's trading session at $0.046, up 8.24%, on 19,945 volume with 4 trades. The average volume for the last 60 days is 30,097 and the stock's 52-week low/high is $0.025/$0.235.
Arno Therapeutics, Inc. (ARNI)
Streetwise Reports and Marketbeat.com reported recently on Arno Therapeutics, Inc. (ARNI), SmallCapVoice did earlier, and today we are reporting on the Company, here at the QualityStocks Daily Newsletter.
Arno Therapeutics, Inc. is a clinical stage biopharmaceutical company listed on the OTC Markets Group’s OTCQB. The Company chiefly concentrates on the development of therapeutics for the treatment of cancer and other life threatening diseases. It has exclusive global rights to develop and market three innovative anti-cancer product candidates. These compounds are in clinical or preclinical development as product candidates to treat hematologic malignancies and solid tumors, and also infectious diseases. Arno Therapeutics has its headquarters in Flemington, New Jersey.
The Company’s product pipeline includes Onapristone, AR-42, and AR-12. Onapristone is a progesterone receptor antagonist. It has demonstrated anti-tumor activity in preclinical and clinical studies of hormone-dependent tumors. AR-42 is a novel, oral agent therapy presently in early clinical development. Moreover, AR-12 is an orally-available small molecule.
Concerning AR-12, preliminary data demonstrate that the mechanism of action may include induction of host cell autophagy and inhibition of fungal acetyl coenzyme A synthetase. Previously, AR-12 completed Phase 1 clinical trials in patients with cancer. Additional pre-clinical research indicates that AR-12 may have potential as an antimicrobial agent in different infectious diseases.
Arno Therapeutics announced in 2015 that the European Commission, acting on the recommendation from the Committee for Orphan Medicinal Products (COMP) of the European Medicines Agency (EMA), designated AR-12 as an orphan medicinal product for the treatment of two separate infectious diseases: cryptococcosis and tularaemia. The European Commission grants orphan designations for medicines that treat a life-threatening or chronically debilitating condition affecting no more than five in 10,000 persons in the EU and where no satisfactory treatment is available.
Arno Therapeutics earlier announced data demonstrating that AR-12 is a promising novel antifungal agent for the treatment of onychomycosis with activity against two primary fungal organisms responsible for causing the condition. Onychomycosis is a common fungal infection of the fingernails and toenails.
Arno Therapeutics has initiated the second stage of a Phase I/II trial of onapristone in men with advanced, castration-resistant prostate cancer (CRPC). Additionally, it continued to screen and enroll patients in a Phase II trial of onapristone in women with recurrent or metastatic endometrioid tumors, which have been shown to express the activated form of the progesterone receptor (APR), and who have received no greater than one prior chemotherapy and no prior hormone therapy.
In March of this year, Arno Therapeutics announced that it enrolled the first patient in the second stage of its Phase I/II clinical trial evaluating onapristone in men with advanced castration-resistant prostate cancer (CRPC), after failure of abiraterone or enzalutamide. Furthermore, In April, the Company announced that it has determined to center its onapristone development program on metastatic castration-resistant prostate cancer (CRPC) that has become resistant to ZYTIGA® (abiraterone acetate) therapy. To support this landmark decision, Arno Therapeutics announced the creation of a special Prostate Cancer Advisory Board.
Arno Therapeutics, Inc. (ARNI), closed Tuesday's trading session at $0.31, down 11.55%, on 9,040 volume with 5 trades. The average volume for the last 60 days is 11,865 and the stock's 52-week low/high is $0.18/$0.87.
International Stem Cell Corp. (ISCO)
The QualityStocks Daily Newsletter would like to spotlight International Stem Cell Corp. (ISCO). Today, International Stem Cell Corp. closed trading at $2.30, off by 4.17%, on 7,841 volume with 26 trades. The stock’s average daily volume over the past 60 days is 7,345, and its 52-week low/high is $1.25/$8.10.
International Stem Cell Corp. today provided a business update and announced operating results for the three months ended March 31, 2016. Q1 2016 Financial Highlights included consolidated revenue for the first quarter of 2016 was $1.6 million, which remained unchanged compared to the consolidated revenue of $1.6 million for the first quarter of 2015. Both of the Company's wholly-owned revenue-generating subsidiaries remain profitable. Profit margin for the Company's revenue-generating subsidiaries for the first quarter of 2016 was $1.24 million, or 77%, compared to profit margin of $1.20 million, or 74%, for the first quarter of 2015. And consolidated loss from operations for the first quarter of 2016 was $1.2 million, compared to consolidated loss from operations of $2.0 million for the first quarter of 2015.
International Stem Cell Corp. (ISCO) specializes in the therapeutic applications of human stem cells and the development and commercialization of cell-based biomedical products. The company was the first to develop and perfect a new class of human stem cells called parthenogenetic stem cells, created from unfertilized human eggs. ISCO has a strong patent portfolio offering clean intellectual property and freedom to operate. The company’s stem cells present superior immune matching capabilities and can be used in millions of people regardless of sex or racial background, with minimal expectation of immune rejection after transplantation.
The company’s human stem cells have been shown to be as pluripotent as embryonic stem cells, however their creation does not involve the destruction of a viable human embryo, which effectively sidesteps the controversy and ethical dilemmas associated with the use of human embryonic stem cells. In contrast to induced pluripotent stem cells, ISCO’s stem cells do not involve manipulation of cells’ genome thereby avoiding potential safety and regulatory obstacles in clinical applications.
The company's scientists are currently focused on using its stem cells to treat severe unmet medical needs of the central nervous system (Parkinson’s disease), the liver and the eye, where cell therapy has been clinically proven but is limited due to the unavailability of safe human cells. Once the technology has been clinically validated there are an essentially unlimited number of potential applications. Because of their immune-matching ability a relatively small number of these stem cell lines could offer the potential of producing the first true stem cell bank as a means of serving populations of different immune types across the globe.
In addition to its therapeutic focus, ISCO also provides a growing revenue stream through two wholly owned subsidiaries. Lifeline Cell Technology specializes in producing primary human cells and growth media for biological research, and Lifeline Skin Care, the company manufactures and markets advanced anti-aging skincare products utilizing the company’s expertise in stem cell biology. Disclaimer
International Stem Cell Corp. Company Blog
International Stem Cell Corp. News:
International Stem Cell Corporation Announces Operating Results for the Three-Months Ended March 31, 2016
International Stem Cell Corporation Announces 2015 Fourth Quarter and Year-End Results
International Stem Cell Corporation to Raise $6.3 Million Through a Private Placement to Fund Phase I Clinical Trial
Moxian, Inc. (MOXC)
The QualityStocks Daily Newsletter would like to spotlight Moxian, Inc. (MOXC). Today, Moxian, Inc. closed trading at $4.00, up 5.26%, on 100 volume with 1 trade. The stock’s average daily volume over the past 60 days is 633, and its 52-week low/high is $3.50/$6.50.
Moxian, Inc. (MOXC) engages in the business of providing social marketing and promotion platforms designed to help merchants accelerate and advertise their business growth through social media. These products and services enable merchants to run targeted advertising campaigns and promotions, and aim to enhance the interaction between users and merchant clients by using consumer behavior data compiled from the Moxian database of user activities. The company has two primary core products: Moxian+ User App and Moxian+ Business App.
Developed in Shenzhen, China, Moxian integrates social media, entertainment and business intelligence. The Multi-Channel Social Commerce Platform, which includes a variety of tools such as Moxian's proprietary Social Customer Relationship Management (SCRM) system, generates knowledgeable data for merchants. This way, consumers and businesses are able to connect and interact with one another to achieve the concept of "online lifestyle, offline fun."
Moxian+ User App serves as an App driven for consumer users to use the platform, consisting of our proprietary virtual currency (MO-Coin and MO-Points), social networking, redemption centre and game centre. Users can earn MO-Coins by playing games, and then use those coins to redeem prizes sponsored by Moxian and client merchants. This model not only drives registered consumers to Moxian and merchant, but also provides merchants the opportunity to advertise, run marketing campaigns, and learn about their customers through the Platform.
Moxian+ Business App is an independent App with built in Social Customer Relationship Management tool built for merchants. Merchants are able to set up a store on the Moxian platform through this business App, push promotions via a variety of methods offered on the platform and look at generated report customized to their own shop.
Moxian's management team has more than 100 years of combined experience in a variety of pertinent endeavors, including management of private and public enterprise, multi-national organizations, quality, engineering and procurement, finance, marketing, communication and more. Together, Moxian's management team is effecting the company's aim to create and lead a personalized social network platform that best fits users and businesses. Disclaimer
Moxian, Inc. Company Blog
Moxian, Inc. News:
Moxian Adopts Oracle Database Solutions to Support the Latest Payment and Transaction Platform, Enabling Intelligent Big Data
Moxian Enters Into Exclusive Agreement and Development Partnership With Xinhua Media Affiliate
Moxian, Inc. Covered by Crystal Equity Research
eXp World Holdings, Inc. (EXPI)
The QualityStocks Daily Newsletter would like to spotlight eXp World Holdings, Inc. (EXPI). Today, eXp World Holdings, Inc. closed trading at $1.8754, up 0.72%, on 2,100 volume with 2 trades. The stock’s average daily volume over the past 60 days is 11,678, and its 52-week low/high is $0.51/$1.976.
eXp World Holdings, Inc. (EXPI) is the holding company for a number of businesses, most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage™. eXp Realty is a full-service real estate brokerage offering 24/7 access to a suite of collaborative tools, training features and socialization channels designed to meet the unique needs of real estate brokers and agents. By creating a fully-immersive, cloud office environment for real estate professionals, eXp effectively reduces agents' overhead, increases their profits and provides greater service value to consumers.
Through eXp Realty's innovative platform, agents and brokers are afforded the opportunity to earn equity in exchange for production and contributions to company growth. Additionally, eXp features an aggressive revenue sharing program that pays agents a percentage of the gross commission income earned by fellow professionals they recruit into the company. The result is a shared ownership community featuring a synergistic and collaborative group of forward-thinking, entrepreneurial professionals. With the emergence of the internet as the most powerful property marketing and advertising medium, eXp's internet and cloud technologies have helped thousands of consumers find, buy or sell homes without the need for a brick and mortar real estate office.
Since its launch in October 2009, eXp Realty has experienced rapid growth, with brokerage service now offered in 35 U.S. states and Alberta, Canada. In February 2016, the company officially welcomed its 1,000th real estate professional into its family of agent-owners, up from just 467 agents at the end of 2014. Following this achievement, the Agent-Owned Cloud Brokerage claimed a spot among the top 50 real estate brokerages in the United States based on agent count, according to data from RISMEDIA's 2015 PowerBroker 500 Report.
Similarly, eXp Realty generated record financial results during 2015. Following the launch of two new initiatives – including an online lead generation program and a stock compensation plan – the company achieved a 71 percent year-over-year increase in net revenues, recording $22.87 million for the year. As it continues to expand its footprint across North America, eXp Realty will look to leverage its unique agent-owned business model to continue attracting driven, entrepreneurial agents and real estate industry leaders while promoting sustainable financial growth. Disclaimer
eXp World Holdings, Inc. Company Blog
eXp World Holdings, Inc. News:
eXp World Holdings Real Estate Brokerage Division Appoints CEO and President
eXp Realty Launches in 4 More States and the District of Columbia
MissionIR Exclusive Audio Interview With eXp World Holdings, Inc. (EXPI) Chief Executive Officer
Oakridge Global Energy Solutions, Inc. (OGES)
The QualityStocks Daily Newsletter would like to spotlight Oakridge Global Energy Solutions, Inc. (OGES). Today, Oakridge Global Energy Solutions, Inc. closed trading at $0.49, off by 3.92%, on 74,043 volume with 21 trades. The stock’s average daily volume over the past 60 days is 51,752, and its 52-week low/high is $0.29/$2.40.
Oakridge Global Energy Solutions, Inc. (OGES) is an integrated energy storage solutions company focused on the design, development and manufacture of high-quality cells, batteries and power systems. The company's innovative 'Made in the U.S.A.' product line includes multiple lithium-ion technologies and form factors that are optimized to address three high-demand target markets – including stationary and grid storage; motive applications, such as electric and hybrid electric fleet vehicles; and specialty applications, such as military, aerospace, marine, medical and telecom backup.
Through a recent restructuring of its operations, Oakridge strategically positioned itself to expand its market reach moving forward. The company currently owns and operates two manufacturing facilities in Melbourne, Florida, which play an instrumental role in its efforts to meet the growing demand for its cutting-edge large format Pro Series golf car batteries and its small format Patriot Series RC batteries. These operations also allow Oakridge to bring stable employment opportunities back to the U.S., effectively highlighting its tireless commitment to the revitalization of the country's manufacturing industry.
The company also maintains a presence on the international stage through its recently formed subsidiary, Oakridge Global Energy Solutions Limited, Hong Kong. This subsidiary, which is expected to serve as the foundation for Oakridge's sales efforts throughout the Asia-Pacific region, was created primarily to address the tremendous international demand for its revolutionary stored energy solutions. The company also maintains a substantial interest in Leclanche S.A., a Swiss developer and manufacturer of large-sized lithium-ion batteries that was originally founded in 1909.
Oakridge has indicated plans to expand its presence in a collection of markets throughout Europe and Asia as it continues to build upon its established product development and manufacturing infrastructure. The company will lean on the expertise of its proven management team – which includes well over a century of combined industry experience – as it looks to increase its share of the $12 billion domestic battery manufacturing industry. Disclaimer
Oakridge Global Energy Solutions, Inc. Company Blog
Oakridge Global Energy Solutions, Inc. News:
Oakridge Global Energy Solutions (OGES) and CEO Steve Barber to Commence a 3 Part, 90-Minute TV Series -- "Power Up America"
Oakridge Energy Reports 2015 Annual Results and Recent Highlights
Oakridge Successful First Quarter Q1, 2016 Revenues Exceed Guidance
The QualityStocks Daily Newsletter would like to spotlight FlexWeek (FXWK). Today, FlexWeek closed trading at $0.555, even for the day. The stock’s average daily volume over the past 60 days is 65, and its 52-week low/high is $0.075/$1.15.
FlexWeek (FXWK) is a pioneer in the global peer-to-peer (P2P) marketplace with the introduction of a unique platform that allows timeshare owners to discover, book and offer unused vacation time directly to the public and other timeshare owners. This approach eliminates the need for timeshare owners to use costly trading platforms such as Interval International or RCI, while potentially reducing unused timeshare inventory.
FlexWeek's P2P website (www.FlexWeek.com) and mobile application is similar to AirBNB's $20 billion approach to the travel industry, but is the first and only P2P marketplace exclusive to fractional vacation ownerships. FlexWeek differs from the existing model, where timeshare weeks must be "banked" with a trading company such as Interval International or RCI, and instead charges the booking fees to the renter of the vacation time, eliminating the cost to the private timeshare owner.
The FlexWeek platform also addresses another specific industry challenge. The average timeshare is only booked 79% of the year, according to the American Resort Development Association's 2012 research survey. Whether or not a privately owned timeshare unit is used, the owner still has to pay annual maintenance fees, and most owners end up losing thousands of dollars in wasted paid-for vacation time over their ownership period. With FlexWeek, an owner of unused paid vacation time can now offer their specific booked week for rent directly to the FlexWeek marketplace to recoup cost or even make a profit on the rental. The glut of unused timeshare inventory allows a potential renter to stay in a very nice condo for a fraction of what they would pay in hotel fees making it a win-win for both the owner and the renter of the vacation time.
Led by founder Kristopher Chavez, who has more than 10 years of experience operating businesses that acquire, rent, sell and transfer timeshares internationally, FlexWeek's management team will leverage its collective expertise to facilitate the company's direction and growth in this new market. FlexWeek's leadership has founded rapidly growing sales organizations generating 8-figure revenues within a year's time, and has experience scaling other models to financial success and/or acquisition rapidly with limited investment. Disclaimer
FlexWeek Company Blog
FlexWeek, Inc. (FXWK): Stay in Vacation Homes around the World for Less than the Cost of Hotels
FlexWeek, Inc. (FXWK) Announces Engagement of QualityStocks Corporate Communications Suite
FlexWeek, Inc. (FXWK) is “One to Watch”
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