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https://www.wibw.com/2022/03/31/police-13-year-old-runaway-girl-dies-hospital-after-found-unresponsive-motel/
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Police: 13-year-old runaway girl dies at hospital after found unresponsive at motel
D’IBERVILLE, Miss. (WALA/Gray News) - A 13-year-old girl has died in a Mississippi-area hospital after being reported as a runaway from Alabama earlier this month.
WALA reports the Mobile Police Department first reported Keyanna Sylvester as a runaway on March 21. She was then found unresponsive in a motel room in D’Iberville, Mississippi, on March 24, according to D’Iberville Police Capt. Jason King.
Sylvester was taken to the hospital but later died, according to police.
The 13-year-old spent time in Ocean Springs and Moss Point, Mississippi, according to reports.
King said it was too early in the investigation to decide whether foul play was involved in the girl’s death.
“We’re making sure we’re careful about not saying whether it’s criminal or not criminal,” he said.
King also said police are waiting for a report by the medical examiner.
“This hurts me real bad because Keyanna was my baby,” said neighbor Alexie Thames. “You all need to help find whoever did this to my baby. "
Anyone with further information on this case was urged to contact the D’Iberville Police Department at 228-396-4252.
Copyright 2022 WALA via Gray Media Group, Inc. All rights reserved.
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https://www.wibw.com/2022/03/31/survivors-child-abuse-neglect-want-lawmakers-make-more-people-be-required-report-it/
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Survivors of child abuse and neglect want lawmakers to make more people be required to report it
TOPEKA, Kan. (WIBW) - When families of child abuse survivors found out current Kansas law does not consider clergy as mandatory reporters, they knew they had to find a way to make a change.
Survivors and families of survivors are looking to hold a certain group accountable to report child abuse.
“Anyone that is in clergy or minister, if you go to your pastor with the fact that someone has been hurt they will be bound by law to report. That’s the thing that is hitting home the most, why do we need a bill for this, this is common sense why wouldn’t anyone in the state of Kansas want to keep kids safe,” said Lori Cook, mother of abuse victim.
Lawmakers are considering a resolution for a constitutional amendment, adding clergy and religious organizations to the list of mandatory reporters.
One survivor says if this was in place years ago, her abuse could have been prevented.
“The church stood by and didn’t do anything to help me out. They protected my abuser since they were not at that time and still are not mandated reporters so they are not obligated to do anything at the time,” said Joe Cheray.
Supporters say the measure could save thousands of lives.
“Studies show that 90% of children abused, are abused by someone they know. Abusers typically don’t stop after one child, the man who abused me, I know at least six other women he abused and I wasn’t the first and I wasn’t the last,” said survivor Kim Bergman.
A second measure would end the statute of limitations for childhood sexual abuse victims to file a civil lawsuit.
Cook says she feels the state has failed survivors.
“Because of the trauma my family has gone through, it could have been prevented and at night when I go to bed, I pray for all the other kids out there that are falling through the cracks because our state simply won’t take care of it so that they are safe.”
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/oscars-producer-says-police-offered-arrest-will-smith/
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Oscars producer says police offered to arrest Will Smith
LOS ANGELES (AP) — Oscars producer Will Packer said Los Angeles police were ready to arrest Will Smith after Smith slapped Chris Rock on the Academy Awards stage.
“They were saying, you know, this is battery, was a word they used in that moment,” Packer said in a clip released by ABC News Thursday night of an interview he gave to “Good Morning America.” “They said we will go get him. We are prepared. We’re prepared to get him right now. You can press charges, we can arrest him. They were laying out the options.”
But Packer said Rock was “very dismissive” of the idea.
“He was like, ‘No, no, no, I’m fine,” Packer said. “And even to the point where I said, ‘Rock, let them finish.’ The LAPD officers finished laying out what his options were and they said, ‘Would you like us to take any action?’ And he said no.”
The LAPD said in a statement after Sunday night’s ceremony that they were aware of the incident, and that Rock had declined to file a police report. The department declined comment Thursday on Packer’s interview, a longer version of which will air on Friday morning.
The Academy of Motion Pictures Arts and Sciences met Wednesday to initiate disciplinary proceedings against Smith for violations against the group’s standards of conduct. Smith could be suspended, expelled or otherwise sanctioned.
The academy said in a statement that “Mr. Smith’s actions at the 94th Oscars were a deeply shocking, traumatic event to witness in-person and on television.”
Without giving specifics, the academy said Smith was asked to leave the ceremony at the Dolby Theatre, but refused to do so.
Smith strode from his front row seat on to the stage and slapped Rock after a joke Rock made about Smith’s wife, Jada Pinkett Smith, when he was on stage to present the Oscar for best documentary.
On Monday, Smith issued an apology to Rock, the academy and to viewers, saying “I was out of line and I was wrong.”
The academy said Smith has the opportunity to defend himself in a written response before the board meets again on April 18.
Rock publicly addressed the incident for the first time, but only briefly, at the beginning of a standup show Wednesday night in Boston, where he was greeted by a thunderous standing ovation. He said “I’m still kind of processing what happened.”
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Follow AP Entertainment Writer Andrew Dalton on Twitter: https://twitter.com/andyjamesdalton
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/2022/04/01/usda-forecasting-higher-food-grocery-costs-2022/
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USDA forecasting higher food, grocery costs in 2022
(Gray News) - It looks like elevated food prices are going to continue this year, according to the U.S. Department of Agriculture.
The USDA released its Food Price Outlook for 2022 and predicted the cost of groceries would continue to increase to as much as 4%.
According to the Consumer Price Index, grocery and supermarket food prices were already 8.6% higher in February than last year and up nearly 1.5% from January to February in 2022.
As reported by the Associated Press, prices for U.S. consumers have continued to jump recently, leaving families facing the highest inflation rate since 1990.
“We’re getting into this situation where we have spiraling inflation,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. “Inflation in one area drives inflation in another.”
Currently, the CPI reports all food categories are increasing in price other than fresh vegetables. Last year, the beef and veal categories had the most significant price increase of 9.3%, and the fresh vegetable category had the smallest at 1.1%. However, no food categories decreased in price in 2021.
Poultry prices are also expected to increase up to 7%, with egg prices predicted to increase up to 3.5% in 2022.
Overall, grocery store and supermarket food purchases are expected to increase up to 4%, with restaurant purchases or food away from home forecasted to increase up to 6.5%, according to the USDA.
Copyright 2022 Gray Media Group, Inc. All rights reserved.
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https://www.wibw.com/2022/04/01/5-fetuses-found-inside-dc-home-anti-abortion-activist/
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5 fetuses found inside DC home of anti-abortion activist
WASHINGTON (AP) — Police found five fetuses in the home of a self-proclaimed “anti-abortion activist” who was indicted this week on federal charges alleging that she was part of a group of people who blocked access to a Washington, D.C. reproductive health center.
The Metropolitan Police Department says officers were responding to a tip about “potential bio-hazard material” at a home in Southeast Washington on Wednesday when they located the five fetuses inside.
A local television station, WUSA9, captured video of police searching the home and reported that the home belonged to Lauren Handy. The 28-year-old was one of nine people charged in an indictment that was made public on Wednesday that accused the group of traveling to Washington, blocking access to the reproductive health center and streaming it on Facebook.
The station, which first reported the discovery, said Handy told a reporter that “people will freak out when they hear” what detectives found inside her house. Handy did not respond to a message sent to her Facebook profile seeking comment.
Police said the five fetuses were collected by Washington’s medical examiner and the investigation is ongoing.
In the indictment, prosecutors said Handy had called the clinic pretending to be a prospective patient and scheduling an appointment. Once there, on Oct. 22, 2020, eight of the suspects pushed their way inside and began blocking the doors, according to the indictment. Five of them chained themselves together on chairs to block the treatment area as others blocked the employee entrance to stop other patients from coming inside, the indictment alleges. Another suspect blocked people from coming into the waiting room, prosecutors charge.
Handy and the eight others were charged with conspiracy against rights and violating the Freedom of Access to Clinic Entrances Act. The federal law, more commonly known as the FACE Act, prohibits physically obstructing or using the threat of force to intimidate or interfere with a person seeking reproductive health services.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/2022/04/01/doctor-convicted-prescribing-over-1m-opioid-pills-las-vegas-cocktail-drugs/
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Doctor convicted for prescribing over $1M in opioid pills, ‘Las Vegas cocktail’ of drugs
(Gray News) - A physician in Texas was recently convicted for wrongly prescribing more than $1 million worth of opioid hydrocodone pills.
According to the U.S. Department of Justice, 52-year-old James Pierre, a Houston doctor, unlawfully prescribed controlled substances from June 2015 through July 2016 to individuals posing as patients at a West Parker Medical Clinic, a pill-mill clinic located in Houston.
Trial evidence showed Pierre and his physician assistant issued hundreds of unlawful prescriptions for hydrocodone and carisoprodol, a combination of controlled substances known as the “Las Vegas Cocktail,” to hundreds of individuals posing as patients each week.
According to the Justice Department, “runners” brought numerous people to pose as patients at the clinic and paid about $220 to $500 per visit in exchange for the prescriptions.
Throughout the scheme, West Parker made about $1.75 million from prescriptions, and over $300,000 went to Pierre, according to investigators.
The Department of Justice reports Pierre was convicted of one count of conspiracy to unlawfully distribute and dispense controlled substances and seven counts of unlawfully distributing and dispensing controlled substances.
The 52-year-old is currently scheduled to be sentenced on June 27 and faces up to 20 years in prison for each count.
Officials said that one co-conspirator has pleaded guilty to conspiracy to distribute controlled substances unlawfully.
DEA Houston investigated the case, according to the Department of Justice.
Copyright 2022 Gray Media Group, Inc. All rights reserved.
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https://www.wibw.com/2022/04/01/high-schoolers-test-skills-state-fbla-conference/
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High schoolers test skills at state FBLA conference
TOPEKA, Kan. (WIBW) - Kansas high schoolers are putting real-life skills to the test.
The Kansas FBLA state conference kicked off Thursday at Stormont Vail Events Center and Hotel Topeka at City Center.
Some 1200 students from across the state competed in more than 60 business-related events. Categories include business plans, ethics, resumes, web site design, and community service projects.
Professionals with expertise in the various fields served as judges and offered feedback to the students. 13′s Melissa Brunner was a judge in the broadcast journalism competition.
The event also allows students to showcase all FBLA - Future Business Leaders of America - has to offer.
“We have we have so many opportunities for kids to kind of dabble in things and see what they like and see what they don’t like. Then we have things like a job interview. Everybody is going to have to be interviewed for a job so that really gives you that real world aspect,” said Izabelle Youngers of Kingman High School, who serves as this year’s FBLA state president.
Conference attendees also are electing the new slate of statewide FBLA officers. Candidates set up campaign booths for students to learn about their ideas and experience.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/ix-50-kretzer-campaigns-hs-girls-wrestling-be-an-official-sport-ks/
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IX AT 50: Kretzer campaigns for HS girls wrestling to be an official sport in KS
“I kind of missed the opportunity a little bit, but it was all worth it in the end,” she said. “I wanted girls to have the opportunity.”
June 23, 1972, President Nixon signed Title IX into law, prohibiting sex discrimination in educational institutions that receive federal funding. Title IX has largely been considered the springboard for collegiate women’s sports to get where they are today — but the fight for equality is far from over. Every Thursday night at 10:00 p.m. leading up to the 50th anniversary of the law’s passing, 13 Sports will honor the women who changed the game for girls’ and women’s sports in Kansas.
“IX at 50: The Trailblazers of Women’s Sports in Kansas”
MCPHERSON, Kan. (WIBW) - Mya Kretzer is a three-time state champion — though you won’t find her name in any history books.
“I just wanted to be recognized for being the best in the state,” she said.
Wrestling wasn’t wasn’t offered for girls while she was at McPherson High. So, under her head coach (also her dad), she competed against boys.
“That was just emotionally a whole lot,” Kretzer said. “And on my body - I still have body pains just because of me wrestling against boys that were a lot stronger.”
She and her dad began working to push Kansas to join 14 other states at the time to recognize girls wrestling as a sanctioned sport.
Together, they went to high school coaching seminars across the state, drumming up interest and bolstering the number of girls competing.
“Helping them develop girls teams, what’s the next steps,” Kretzer explained. “We got girls tournaments going on in the state. We helped develop that in the state. A few tournaments, and then more tournaments the next year.”
McPherson even held three unofficial state championships, starting with 56 competitors in 2017. The event quadruped in size two years later.
Finally, the spring of her senior year, KSHSAA approved adopting girls wrestling with a vote of 63-2.
She sat in the room overcome with emotion when the vote passed.
“It helped me develop confidence, just the friendships that I’ve made with everyone, how strong that was, it was just an emotional time for me to be able to share that with everyone,” she said.
Just this week, her name went up on the walls of her alma mater:
The sign reads, “MAY IT BE KNOWN THAT THESE THREE GIRLS BLAZED A TRAIL TO ALLOW YOU THE OPPORTUNITY TO WRESTLE AGAINST OTHER GIRLS IN THE QUEST TO CLAIM GOLD. THEY NEVER HAD THIS OPPORTUNITY, BUT THEIR EFFORTS ALLOW YOU THIS SACRED PATH.”
“I kind of missed the opportunity a little bit, but it was all worth it in the end,” she said. “I wanted girls to have the opportunity.”
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/ix-50-kshsaa-honors-trailblazers-state-basketball-tournaments/
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IX AT 50: KSHSAA honors trailblazers at state basketball tournaments
June 23, 1972, President Nixon signed Title IX into law, prohibiting sex discrimination in educational institutions that receive federal funding. Title IX has largely been considered the springboard for high school and collegiate women’s sports to get where they are today — but the fight for equality is far from over. Every Thursday night at 10:00 p.m. leading up to the 50th anniversary of the law’s passing, 13 Sports will honor the women who changed the game for girls’ and women’s sports in Kansas.
“IX at 50: The Trailblazers of Women’s Sports in Kansas”
EMPORIA, Kan. (WIBW) - The Kansas State High School Activities Association honored women’s sports trailblazers at this year’s state basketball tournaments.
Each pioneer presented the game ball to officials prior to tip-off, and champions after the game.
Amanda Flick-Gutierrez was among them. She has volunteered at the 5A state tournament at Emporia State’s White Auditorium for the last two decades.
“These are kids out there that are giving it their everything,” she said. “That’s exciting for me to see.”
It’s a gym she’s quite familiar with.
The Mission Valley High School graduate was co-captain of the 1998 Lady Hornet basketball team that reached the Division II National Championship, finishing the season 33-1.
“That was one of the most amazing experience,” she said. “We had so many Emporia State fans down there in Pine Bluff, so it was one of the greatest experiences that I’ve had.”
Now, she’s helping the next generation of athletes.
“I’ve had two girls, I have a senior in high school and a sophomore, but those two groups I started coaching when they were in second grade,” she said. “I coached at the middle school here, so basketball is just a big part of who I am. And now rather than me playing, it’s me passing on that knowledge that I’ve gotten through the years.”
Things came full circle at this year’s tournament; Flick Gutierrez got to watch her daughter, Avery, finish her playing career with Emporia High.
“Pass on what you’ve learned, help get those experiences for others,” she said.
Eight women in total were honored the weekend of state:
- 1A DII Great Bend - Jackie Stiles (Claflin)
- 1A DI Dodge City - Michelle Stueve-Corpening (Olpe)
- 2A Manhattan - Kelly Moylan (St. Mary’s)
- 3A Hutchinson - Nicole Ohlde-Johnson (Clay Center)
- 4A Salina - Kendra Wecker (Marysville)
- 5A Emporia - Susan Woolf-McPherson (Andover) and Amanda Flick-Gutierrez (Mission Valley)
- 6A Wichita - Lynette Woodard (Wichita North)
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/ku-preps-2018-final-four-rematch-against-villanova/
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KU preps for 2018 Final Four rematch against Villanova
The Jayhawks will look to avenge their 2018 loss to Villanova Saturday in New Orleans.
NEW ORLEANS (WIBW) - Organizers for the Final Four spent Thursday putting the finishing touches on the Superdome, while the Jayhawks did some fine-tuning of their own.
KU took the court for the first time in New Orleans for a practice session closed to the media and public.
“We’re fired up,” KU head coach Bill Self said. “I don’t think anybody in this field is flying under any radar or anything like that. Everybody has the same goals. Actually, I believe all four teams have a legitimate shot if they play well.”
The ‘Hawks are prepping for their first Final Four appearance since 2018. They’ll face the same team they played four years ago in this round: Villanova.
Last time around, it was all Wildcats. The eventual national champions jumped out to a 22-4 lead before hitting a Final Four record 18 threes on a 45% clip to win by 16.
“It was just one of those games,” Villanova head coach Jay Wright said Thursday. “We just made — it was ridiculous. And we’ve been on the other side of that. I remember looking down at Bill thinking, ‘I’ve been there.’ It just so happened in a Final Four game.”
“I haven’t wanted to think about that since 2018,” Self said with a smile. “They were unbelievable that day.”
Both coaches agree fans will see two totally different teams this weekend — not just in personnel, but in style of play.
“We don’t have the firepower that that team had,” Wright said. “Kansas is a way faster team and much more explosive and much more perimeter-oriented than that team.”
“I think I could say this team was more connected on both ends,” Self said. “I think this year’s team has become better defensively, and offensively we’re not far behind at all what that team was.”
The 2018 game isn’t the only ghost of KU’s tournament past haunting this team.
Players said Thursday they’re fueled by last year’s early exit.
“It sucked getting out in the second round,” Ochai Agbaji said. “We knew it took taking it game by game and really focusing in on every single game, every single possession and not taking anything for granted.”
“Ochai said in the locker room after that loss, ‘Remember this feeling. Use that as the fuel for you to go forward and for this next year for the guys coming back,’” Mitch Lightfoot said. “And I think we can say we did that.”
“We got beat pretty bad last year in the tournament. We all had a little chip on our shoulder after that,” Christian Braun said. “I would say that motivated us to work hard this summer.”
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/shop-decks-out-popcorn-ku-colors-ahead-final-four-match-up/
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Shop decks out popcorn in KU colors ahead of Final Four match up
TOPEKA, Kan. (WIBW) - A downtown Topeka popcorn shop is getting in the Final Four spirit with a colorful batch.
Cashmere Gourmet Popcorn on S. Kansas Ave. whipped up a special batch in Kansas University’s colors of crimson and blue. The red is cherry flavored, and the blue is flavored like vanilla.
They will offer two sizes -- small and medium -- with the smallest at $7.00 and the medium-sized bag at $12.75. 13 NEWS spoke with Cashmere’s employee, Debbie Coleman, who said it’s flying off the shelves.
“It is really fun to see local teams go far,” Coleman said. “As soon as Angie, one of the owners posted it [online], within five minutes a boy came in and got it, because his dad called him and said you are closest you need to go down and get some.”
The popcorn shop says it will get more supplies to make more batches on Friday, April 1. If KU wins the game against Villanova on April 2, they will make more to keep up with the demand.
Cashmere also offered red and gold popcorn during football season, in honor of the Kansas City Chiefs.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/thousands-baby-teether-rattles-recalled-due-choking-hazard/
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Thousands of baby teether rattles recalled due to choking hazard
(Gray News) - A recall has been issued for nearly 9,000 motion-activated baby rattles sold in the U.S. and Canada.
PlayMonster has recalled the Kid O Hudson glow rattles due to their legs possibly breaking off and posing a choking hazard to young children, according to the Consumer Product Safety Commission.
The agency describes the product as a motion-activated rattle shaped like a puppy that makes a soft rattling sound when shaken. The plastic puppy is white with spots that can glow in red or green. The puppy’s legs are textured soft plastic for teething children.
Currently, there have been three reports of the rattle legs breaking off, according to the recall. No injuries have been reported.
Consumers are advised to immediately take the recalled walkers away from young children and contact PlayMonster by calling 1-800-469-7506 to discuss refund options.
The rattles were sold at specialty stores nationwide and online at Target.com, Amazon.com, Walmart.com and other sites from February 2018 through February 2022.
Copyright 2022 Gray Media Group, Inc. All rights reserved.
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https://www.wibw.com/2022/04/01/topeka-event-space-beacon-holds-grand-opening/
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Topeka event space Beacon holds grand opening
Published: Mar. 31, 2022 at 9:41 PM CDT|Updated: 47 minutes ago
TOPEKA, Kan. (WIBW) - The Beacon, a new Topeka event space, is officially up and running.
The venue held a grand opening and open house Thursday night. Located at 420 SW 9th St., The Beacon is in the former Topeka Women’s Club building. Owners say heavy renovations; including new ceilings, bathrooms, and a catering kitchen; gave the building new life.
You can check out BeaconTopeka.com if you want to reserve the space for an event.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/topeka-family-gets-keys-new-home-through-topeka-habitat-humanity/
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Topeka family gets keys to new home through Topeka Habitat For Humanity
Published: Mar. 31, 2022 at 9:37 PM CDT|Updated: 53 minutes ago
TOPEKA, Kan. (WIBW) - One Topeka family were able to celebrate their new home Thursday night.
Topeka habitat for humanity dedicated a home to their January family. Aleka signed her zero-interest mortgage and got the keys to her new place, and her family is ready to move in. The South Topeka home is the 112th newly-constructed house provided through the nonprofit.
“This is one of our favorite days of the year, being able to hand the keys to a homeowner that’s worked hard to budget, to become a homeowner, to realize her dreams,” THFH CEO Janice Watkins said.
Topeka Habitat also got some help from Advisors Excel, who furnished the home.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/we-people-reunion-event-was-postponed-until-further-notice/
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The “We the People Reunion” event was postponed until further notice
Published: Mar. 31, 2022 at 10:16 PM CDT|Updated: 13 minutes ago
TOPEKA, Kan. (WIBW) - A Holton event called ‘We the People Reunion’ is being postponed.
The ‘We the People Reunion’ was slated for March 31 through April 2 at the N.E. Kansas Heritage Complex, but the Jackson Co. fair board, which owns the facility and had rented it to the event organizers, said it has been delayed.
They say the organizers do not have a future date.
Among those scheduled were conservative Christian radio host Brad Barton, ‘My pillow’ CEO Mike Lindell, Uncle Si’ from Duck Dynasty, and Republican Attorney General candidate Kris Kobach.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/man-owes-survival-story-colon-cancer-screening/
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Man owes survival story to colon cancer screening
TOPEKA, Kan. (WIBW) - Jim Peterson had just celebrated his 50th birthday, and retired from the Kansas Air National Guard last year when he went in for annual physical.
“The doctor recommended the colonoscopy, went in and I was already positive for cancer,” Peterson said.
The married father of four from Osage City was diagnosed with stage three colon cancer.
“It was pretty shocking,” Peterson said. “I’d just retired so this was not the way I thought I’d be doing my first year of retirement.”
Nurse Practioner Robin McKay, APRN with Cotton O’Neil Cancer Center, says screenings are vital in catching colon cancer.
“One thing that makes colon cancer so dangerous is often there’s no symptoms until it’s a more advanced disease,” she said.
In 2018, as health officials reported in increase in colon cancer incidence among young patients, the American Cancer Society updated its recommendations. It now advises people with average risk to get a colonoscopsy starting at age 45, rather than 50. If it is normal, it should be repeated in 10 years, sooner if doctors find anything concerning. Those with a strong family history of colon cancer or polyps, should get their first screening when they’re 10 years before the age at which their loved one was diagnosed.
“Often cancer has been present in your colon for many years before it becomes a cancer as an atypical polyp,” McKay said. “On colonoscopies, they are able to directly visualize those polyps and remove them to prevent them from ever becoming a cancer.”
Peterson has undergone surgery and chemotherapy, with another surgery to go. He hopes his story convinces others to take their health seriously.
“I hope people get out there and get their screenings done as early as they can and stay on top of it,” he said.
McKay says other types of screening use stool samples. While they are fairly accurate, she says they can’t immediately address polyps, like a colonoscopy can. Also, if anything is abnormal, you’d have to get a colonoscopy anyway.
As far as prevention, she says smoking, alcohol use, obesity, and consuming high amounts of processed foods or red meat all increase colon cancer risk.
March is Colon Cancer Awareness Month.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/prnewswire/2022/03/31/american-homes-4-rent-announces-pricing-public-offering-600-million-3625-senior-notes-due-2032-300-million-4300-senior-notes-due-2052/
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CALABASAS, Calif., March 31, 2022 /PRNewswire/ -- American Homes 4 Rent (NYSE: AMH) (the "Company") today announced that its operating partnership, American Homes 4 Rent, L.P. (the "Operating Partnership"), has priced an offering of $600 million aggregate principal amount of 3.625% Senior Notes due 2032 (the "2032 Notes") and $300 million aggregate principal amount of 4.300% Senior Notes due 2052 (the "2052 Notes" and together with the 2032 Notes, the "Notes"). The 2032 Notes will be issued at 97.517% of par value with a coupon of 3.625% per annum. The 2052 Notes will be issued at 97.237% of par value with a coupon of 4.300% per annum. Interest on the Notes is payable semi-annually in arrears on April 15 and October 15 of each year, commencing October 15, 2022. The 2032 Notes will mature on April 15, 2032 and the 2052 Notes will mature on April 15, 2052. The offering is subject to the satisfaction of customary closing conditions and is expected to close on or about April 7, 2022.
The Operating Partnership intends to use the net proceeds from the offering to repay amounts outstanding on its revolving credit facility and any remaining net proceeds for general corporate purposes, including, without limitation, property acquisitions and developments, the expansion, redevelopment and/or improvement of existing properties in its portfolio, other capital expenditures, the redemption of its Series F preferred shares, the redemption of its other preferred shares, the repayment of outstanding indebtedness, working capital and other general purposes.
BofA Securities, J.P. Morgan and PNC Capital Markets LLC are acting as joint book-running managers for the offering, and Wells Fargo Securities, BMO Capital Markets, Citigroup, Morgan Stanley and Raymond James are acting as book-running managers for the offering. Mizuho Securities, Scotiabank, US Bancorp, Regions Securities LLC, Ramirez & Co., Inc. and RBC Capital Markets are acting as co-managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful before registration or qualification thereof under the securities laws of any such state or jurisdiction.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus and prospectus supplement. Copies of the preliminary prospectus supplement relating to the offering and the final prospectus supplement, when available, may be obtained by visiting EDGAR on the SEC's website at www.sec.gov or from BofA Securities, Inc., 200 North College Street, NC1-004-03-43, Charlotte, NC 28255-0001, Attn: Prospectus Department, by telephone at 1-800-294-1322 or by email at dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204; and PNC Capital Markets LLC, The Tower at PNC Plaza, 300 Fifth Avenue, Floor 10, Pittsburgh, PA 15222, or by telephone at 1-855-881-0697.
About American Homes 4 Rent
American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and "American Homes 4 Rent" is a nationally recognized brand for rental homes, known for high-quality, good value and resident satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing, and operating attractive, single-family homes as rental properties. As of December 31, 2021, we owned 57,024 single-family properties in selected submarkets in 22 states.
Forward-Looking Statements
This press release contains "forward-looking statements" that relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "potential," "plan," "goal," "outlook," "guidance" or other words that convey the uncertainty of future events or outcomes. These forward-looking statements may include, but are not limited to, the Operating Partnership's ability to complete the offering and the intended use of net proceeds. The Operating Partnership has based these forward-looking statements on its current expectations and assumptions about future events. While the Operating Partnership's management considers these expectations to be reasonable, they are inherently subject to risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Operating Partnership's control and could cause actual results to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. These and other important factors, including "Risk Factors" disclosed in, or incorporated by reference into, the prospectus from the Company's and the Operating Partnership's Annual Report on Form 10-K for the year ended December 31, 2021, and in the Company's and the Operating Partnership's subsequent filings with the SEC, may cause the Operating Partnership's actual results to differ materially from anticipated results expressed or implied by these forward-looking statements. Investors should not place undue reliance on these forward-looking statements. The Company undertakes no obligation to update any forward-looking statement to conform to actual results or changes in expectations, unless required by applicable law.
Contact:
American Homes 4 Rent
Investor Relations
Phone: (855) 794-2447
Email: investors@ah4r.com
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https://www.wibw.com/prnewswire/2022/03/31/aphelion-aerospace-secures-investment-mercury-group-founder-advisors/
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DENVER, March 31, 2022 /PRNewswire/ -- Aphelion Aerospace, based in Denver, Colorado is establishing itself as a one-stop-shop for low-cost small satellite integration and on-demand launch operations from practically anywhere around the world. Aphelion announced today that it has received significant investment from strategic investors including The Mercury Group, Founder Advisors, and Richtr Financial Studio. These investments are part of Aphelion's Seed round which the company is running in parallel with their equity crowdfunding campaign on StartEngine.
Aphelion CEO Miguel Ayala and CTO Matthew Travis indicate that these investments will help them continue pushing forward with the development of their suborbital launch vehicle technology demonstrator. They plan to conduct low-altitude suborbital demonstration launches by the end of the year to prove out their green non-toxic, non-cryogenic propulsion technology in flight.
Based on the caliber and background of their board advisors and investors, it is clear that the Aphelion team is positioning to become a strong player in the space industry. Last year, Aphelion announced that Edward Mango, former Program Manager of the NASA Commercial Crew Transportation Program had joined their board of advisors. Mr. Mango is one of the key NASA leaders behind the success of SpaceX. Aphelion also announced that Kevin Rice, former Director of Business Management at NASA Jet Propulsion Laboratory and Lockheed Martin Skunk Works had joined their board of advisors. Mr. Rice practically wrote the book on business management for NASA. In addition, Aphelion announced that Geoff Brim, former VP of Product Management at Deutsche Telekom had joined their board of advisors. Mr. Brim evangelized digital transformation, data science, artificial intelligence, and robotics at Deutsche Telekom.
Now come Aphelion's visionary investors. Ben West of The Mercury Group is a US Air Force veteran. Before his years in finance, Ben was an F117A and F16 Crew Chief. He is well aware that military fighter jets use hydrazine in their emergency power units. He knows very well that hydrazine is extremely toxic and thus costly and slow to deal with. He is also aware that other uses of hydrazine include spacecraft propulsion. Hearing that Aphelion had developed a propulsion technology that could essentially replace anything hydrazine powered was music to his ears. Ben feels excited to back Aphelion with investment and plans to continue supporting Aphelion along its journey to bring this new technology to market.
Steven Williams, of Founder Advisors advises Aphelion on market strategy. Along with Steven, the Founder Advisors team provides corporate and business strategy advisory to Aphelion. They are composed of accomplished aerospace and tech entrepreneurs and executives like Steven. Some have spent years in launch vehicle development at companies such as Lockheed Martin. These guys truly understand and value the business model that Aphelion is structuring for bundled small satellite integration and launch services.
James Graham, CEO of Richtr Financial Studio, is an ardent supporter of Aphelion's possibilities. Richtr Financial Studio supports Aphelion with financial and accounting services. They are a powerhouse for startups that are poised for exponential growth.
For more information about Aphelion Aerospace, please visit: https://aphelionaerospace.com
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https://www.wibw.com/prnewswire/2022/03/31/aridis-pharmaceuticals-announces-2021-fourth-quarter-year-end-financial-results-business-update/
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Awarded funding from the Gates Foundation to support development of inhaled formulation technology to deliver cost-effective monoclonal antibodies against influenza and COVID-19
LOS GATOS, Calif., March 31, 2022 /PRNewswire/ -- Aridis Pharmaceuticals, Inc. (Nasdaq: ARDS), a biopharmaceutical company focused on the discovery and development of novel anti-infective therapies to treat life-threatening infections, today reported financial and corporate results for its fourth quarter and year ended December 31, 2021.
Fourth Quarter Highlights
- Continued enrollment in the Company's Phase 2a study of AR-501 targeting cystic fibrosis (CF), conducted in collaboration with the funding support from the CF Foundation. Aridis is on track to report top-line data from this CF study in mid-2022.
- Continued enrollment in the Company's Phase 3 study evaluating AR-301 for the treatment of Ventilator Associated Pneumonia (VAP). Aridis is on track to report top-line data in the second half of 2022.
- The Company is on track to initiate the Phase 3 trial of AR-320 for the prevention of VAP in mid-2022 following regulatory feedback on the clinical development plans and Phase 3 study design received from the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA). Clarity on the regulatory pathway to the registrational Phase 3 trial and licensure has been achieved. The Phase 3 SAATELLITE-2 study will be conducted in collaboration with the COMBACTE-Net consortium of HAP/VAP experts, funded up to 25 million Euros by the Innovative Medicines Initiative (IMI) program of the European Commission.
- Reported preclinical data demonstrating that AR-701, the Company's first fully human monoclonal antibody (mAb) cocktail, is broadly reactive against the Omicron and other SARS-CoV-2 (COVID-19) variants, SARS (Severe Acute Respiratory Syndrome), MERS (Middle East Respiratory Syndrome Coronavirus), and multiple seasonal ('common cold') human coronavirus strains.
- In January 2022, Aridis announced that it had received a $1.9 million grant from the Bill and Melinda Gates Foundation (Gates Foundation) to evaluate the application of the Company's inhaled formulation technology to deliver cost-effective monoclonal antibodies (mAbs) against influenza and SARS-CoV-2 to people in low- and middle-income countries.
- Signed loan agreement for $10 million in non-dilutive financing with Streeterville Capital. Received first $5 million payment in November 2021 and the second $5 million payment in February 2022.
"I am proud of our team's work in 2021 as we strengthened our foundation and advanced key development programs," commented Vu Truong, Ph.D., Chief Executive Officer of Aridis Pharmaceuticals. "2022 will be a pivotal year for Aridis as we achieve important clinical milestones, including data readout from our AR-501 Phase 2a and AR-301 Phase 3 studies as well as the initiation of the AR-320 registrational Phase 3 study, and the anticipated launch of the first-in-human clinical study of AR-701. We look forward to sharing further updates on the progress of these programs in the coming months as we continue to build our leadership in the respiratory health space."
Clinical Program Update
AR-301 (tosatoxumab): AR-301 is being evaluated in a Phase 3 clinical study as an adjunctive treatment to standard of care antibiotics in S. aureus VAP patients. The ongoing AR-301 Phase 3 study remains blinded, and the independent Data Monitoring Committee with access to unblinded data continues to monitor study subjects for safety and has not expressed any safety concerns. The Company observed modest improvement in enrollment in recent months despite the continued pandemic. However, because a significant number of participating clinical sites in the study are in Eastern Europe, the escalating Ukraine-Russia conflict is expected to negatively impact enrollment. At the present time, the company anticipates reporting top-line data in the second half of 2022.
The trial represents the first ever Phase 3 superiority clinical study evaluating immunotherapy with a fully human mAb to treat acute pneumonia in the ICU setting. Details of the study can be viewed on www.clinicaltrials.gov using identifier NCT03816956.
AR-320 (suvratoxumab): The Company licensed this Phase 3-ready asset from AstraZeneca in July 2021. A multinational, randomized, double-blind, placebo-controlled Phase 2 study (n=196 patients) showed that mechanically ventilated ICU patients colonized with S. aureus who were treated with suvratoxumab, a fully human mAb, demonstrated a relative risk reduction in onset of pneumonia by 32% in the overall intent-to-treat (ITT) study population, and by a statistically significant 47% in the under 65-year-old population, which is the target population in the planned Phase 3 study. This statistically significant relative risk reduction in the target population was also associated with a substantial reduction in the duration of care needed in the ICU and hospital. The Company completed successful discussions with the EMA via the Scientific Advisory meeting and the FDA via an End-of-Phase 2 meeting, including obtaining agreement on the planned Phase 3 study serving as a single pivotal trial. The regulatory feedback from these agencies is incorporated in the Company's clinical study design. The Company expects to launch its Phase 3 SAATELLITE-2 study of AR-320 in the mid-2022 in collaboration with the public-private COMBACTE-Net consortium of HAP/VAP experts, funded by the Innovative Medicines Initiative (IMI) program of the European Commission in the amount of up to 25 million Euros.
AR-501 (gallium citrate): The Company initiated its Phase 2a study to evaluate the safety, pharmacokinetic (PK), and preliminary efficacy in cystic fibrosis (CF) patients in the first quarter of 2021. The Phase 2a study is actively enrolling patients with a goal of delivering full data readout in mid-2022. AR-501 is being developed in collaboration with the CF Foundation and has been granted Orphan Drug Designation (ODD), Fast Track and Qualified Infectious Disease Product (QIDP) designations by the FDA. In addition, the European Medicines Agency (EMA) granted ODD to AR-501. The Phase 1/2a clinical trial underway is a randomized, double-blind, placebo-controlled trial, utilizing single- and multiple-ascending dose and dose-ranging strategies, investigating the safety and PK of inhaled AR-501 in healthy volunteers and CF patients with chronic bacterial lung infections. Details of the Phase 1/2a clinical trial can be viewed on https://www.clinicaltrials.gov using identifier NCT03669614.
AR-701: AR-701 is a cocktail of two fully human immunoglobulin G1 (IgG1) mAbs discovered from screening the antibody secreting B-cells of convalescent SARS-CoV-2 infected (COVID-19) patients. Each mAb of the AR-701 cocktail neutralizes coronaviruses using a distinct mechanism of action, namely inhibition of viral fusion and entry into human cells (AR-703) or blockage of viral binding to the human 'ACE2' receptor (AR-720). The AR-701 mAbs are engineered to be half-life extended and potentially active for 6-12 months in the blood. AR-701 is being developed as a long-acting intramuscular prophylactic to prevent COVID-19 infections, as well as a self-administered inhaled formulation for the treatment of COVID-19 patients who are not yet hospitalized. In February 2022, Aridis reported that both of its fully human mAbs in the AR-701 cocktail neutralized the SARS-CoV-2 Omicron variant. Moreover, both mAbs conferred strong protection against Omicron infected animals when given either parenterally or by intranasal administration. The performance of the AR-701 cocktail is published in Biorxiv [see https://www.biorxiv.org/content/10.1101/2022.03.05.483133v1]. We expect to initiate a Phase 1 clinical study in 2H2022.
Fiscal 2021 Financial Results:
- Cash: Total cash, cash equivalents and restricted cash as of December 31, 2021, were approximately $20.0 million.
- Revenues: Grant and licensing revenue increased to approximately $1.5 million for the year ended December 31, 2021 primarily due to the recognition of revenue from grants from the Cystic Fibrosis Foundation (CFF) and the Gates Foundation as well as from Kermode, an Apex technology licensee. Grant and licensing revenue earned during the year ended December 31, 2020 was approximately $1.0 million, all from CFF. Grant and licensing revenue was approximately $0.6 million and $0 for the three months ended December 31, 2021 and 2020, respectively.
- Research and Development Expenses: Research and development expenses increased by approximately $21.0 million to $38.0 million for year ended December 31, 2021 from $17.0 million for the year ended December 31, 2020. The increase was due primarily to: an increase of approximately $11.5 million to in-license AR-320 rights from Medimmune; an increase of approximately $6.6 million for AR-320 drug manufacturing and clinical trial preparation costs; an increase of approximately $0.7 million for costs associated with the development of AR-701; an increase of approximately $0.5 million for the continuing conduct of the Phase 2a clinical trial evaluating AR-501 for the treatment of Cystic Fibrosis and an increase of approximately $0.6 million in personnel, consulting and other related costs.
Research and development expenses increased by approximately $4.4 million in the quarter ended December 31, 2021 to $8.6 million from $4.2 million in the same quarter in 2020. This is primarily due to increases in drug manufacturing for our AR-320 trial ($2.8 million), spending on the Gates Foundation funded project ($0.5 million) and spending on personnel, consulting and other related costs ($0.4 million). - General and Administrative Expenses: General and administrative expenses increased by approximately $0.9 million to $7.3 million for the year ended December 31, 2021 from $6.4 million for the year ended December 31, 2020. The increase was due primarily to increases in professional service fees, franchise tax and recruitment expense to attract talent. General and administrative expenses increased in Q4 2021 to $2.0 million from $1.6 million in Q4 2020 primarily due to increases in consulting, legal fees, insurance and recruitment offset by lower accounting, rent and repairs expense.
- Interest Income (Expense) net: Net interest expense, increased by approximately $322,000 to approximately $245,000 for the year ended December 31, 2021 from approximately $77,000 net interest income for the year ended December 31, 2020. The increased expense was primarily due to our debt servicing in 2021.
- Share of Loss in Equity Method Investment. Loss from our share of equity method investment in Shenzhen Arimab Biopharmaceuticals Co., Ltd. decreased by approximately $9,000 to zero for the year ended December 31, 2021. The loss was $9,000 for the year ended December 31, 2020. Our share of loss from our minority interest calculated under the equity method was limited to the reduction of the net book value of the investment to zero as of March 31, 2020.
- Other Income: Other income in the year ended December 31, 2021, increased by approximately $796,000 from zero during the year ended December 31, 2020, primarily due to forgiveness of the $722,000 Paycheck Protection Program loan by the U.S. Small Business Administration. Additionally, other income from a sublease agreement we entered into with a tenant in March 2021 to sublet a small portion of our Los Gatos facility increased by approximately $74,000 during the year ended December 31, 2021, from zero for the year ended December 31, 2020. Other income increased by approximately $22,000 in Q4 2021. There was no sublease agreement or related income during the three months ended December 30, 2020.
- Net Loss: The net loss available to common stockholders for the year ended December 31, 2021, was approximately $47.3 million, or $3.85 net loss per share, compared to a net loss available to common stockholders of approximately $22.3 million, or $2.44 net loss per share, for the year ended December 31, 2020. The weighted average common shares outstanding used in computing net loss per share available to common stockholders was 12,291,600 million and 9,168,744 million for the years ended December 31 of 2021 and 2020, respectively.
About Aridis Pharmaceuticals, Inc.
Aridis Pharmaceuticals, Inc. discovers and develops anti-infectives to be used as first-line treatments to combat antimicrobial resistance (AMR) and viral pandemics. The Company is utilizing its proprietary ʎPEX and MabIgX® technology platforms to rapidly identify rare, potent antibody-producing B-cells from patients who have successfully overcome an infection, and to rapidly manufacture mAbs for therapeutic treatment of critical infections. These mAbs are already of human origin and functionally optimized by the natural human immune system for high potency. Hence, they are already fit-for-purpose and do not require further engineering optimization to achieve full functionality.
The Company has generated multiple clinical stage mAbs targeting bacteria that cause life-threatening infections such as ventilator associated pneumonia (VAP) and hospital acquired pneumonia (HAP), in addition to preclinical stage antibacterial and antiviral mAbs. The use of mAbs as anti-infective treatments represents an innovative therapeutic approach that harnesses the human immune system to fight infections and is designed to overcome the deficiencies associated with the current standard of care, which is broad spectrum antibiotics. Such deficiencies include, but are not limited to, increasing drug resistance, short duration of efficacy, disruption of the normal flora of the human microbiome and lack of differentiation among current treatments. The mAb portfolio is complemented by a non-antibiotic novel mechanism small molecule anti-infective candidate being developed to treat lung infections in cystic fibrosis patients. The Company's pipeline is highlighted below:
Aridis' Pipeline
AR-301 (VAP). AR-301 is a fully human IgG1 mAb currently in Phase 3 clinical development targeting gram-positive Staphylococcus aureus (S. aureus) alpha-toxin in VAP patients.
AR-320 (nosocomial pneumonia). AR-320 is a fully human mAb targeting S. aureus alpha-toxin for prevention of nosocomial pneumonia. Statistically significant Phase 2 data in the target population of those ≤ 65 years of age, was recently published in Lancet Infectious Diseases journal. The Company has completed discussions with the EMA and FDA on study design and expects to launch its Phase 3 study of AR-320 in mid-2022.
AR-101 (HAP). AR-101 is a fully human immunoglobulin M (IgM) mAb in Phase 2 clinical development targeting Pseudomonas aeruginosa (P. aeruginosa) liposaccharides serotype O11, which accounts for approximately 22% of all P. aeruginosa hospital acquired pneumonia cases worldwide. This program is licensed to the Serum Institute of India and Shenzhen Arimab.
AR-501 (cystic fibrosis). AR-501 is an inhaled formulation of gallium citrate with broad-spectrum anti-infective activity being developed to treat chronic lung infections in cystic fibrosis patients. This program is currently in a Phase 2a clinical study in CF patients.
AR-701 (COVID-19). AR-701 is a cocktail of fully human mAbs discovered from convalescent COVID-19 patients that are directed at multiple envelope proteins of the SARS-CoV-2 virus.
AR-401 (blood stream infections). AR-401 is a fully human mAb preclinical program aimed at treating infections caused by gram-negative Acinetobacter baumannii.
AR-201 (RSV infection). AR-201 is a fully human IgG1 mAb directed against the F-protein of diverse clinical isolates of respiratory syncytial virus (RSV). This program is licensed exclusively to the Serum Institute of India.
For additional information on Aridis Pharmaceuticals, please visit https://aridispharma.com/.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. These statements may be identified by the use of words such as "anticipate," "believe," "forecast," "estimated" and "intend" or other similar terms or expressions that concern Aridis' expectations, strategy, plans or intentions. These forward-looking statements are based on Aridis' current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, the need for additional financing, the timing of regulatory submissions, Aridis' ability to obtain and maintain regulatory approval of its existing product candidates and any other product candidates it may develop, approvals for clinical trials may be delayed or withheld by regulatory agencies, risks relating to the timing and costs of clinical trials, risks associated with obtaining funding from third parties, management and employee operations and execution risks, loss of key personnel, competition, risks related to market acceptance of products, intellectual property risks, risks related to business interruptions, including the outbreak of COVID-19 coronavirus, which could seriously harm our financial condition and increase our costs and expenses, risks associated with the uncertainty of future financial results, Aridis' ability to attract collaborators and partners and risks associated with Aridis' reliance on third party organizations. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described under the caption "Risk Factors" in Aridis' 10-K for the year ended December 31, 2020, and Aridis' other filings made with the Securities and Exchange Commission. Forward-looking statements included herein are made as of the date hereof, and Aridis does not undertake any obligation to update publicly such statements to reflect subsequent events or circumstances.
Contact:
Investor Relations
Dave Gentry, CEO
RedChip Companies
Dave@redchip.com
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https://www.wibw.com/prnewswire/2022/03/31/arixa-capital-hires-eric-cooper-vice-president-construction/
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LOS ANGELES, March 31, 2022 /PRNewswire/ -- Arixa Capital Advisors, LLC is pleased to announce that Eric Cooper has joined the company as Vice President of Construction. In this role, Mr. Cooper is responsible for enhancing Arixa's construction risk management, through further development of Arixa's funds control program and construction underwriting, as well as building the scalable infrastructure that will allow Arixa to continue to grow its construction lending platform. Mr. Cooper comes to Arixa with over a decade of onsite construction project management experience and five years of construction lending experience.
Prior to joining Arixa, Mr. Cooper was the Vice President of Construction Operations at Genesis Capital. During his five years with that company, he oversaw the development of a nationwide residential construction underwriting program and was responsible for managing the in-house funds control team.
Eric Cooper shares, "As I suspected, Arixa Capital has an incredible culture, talented staff and a fantastic borrower base. I feel lucky and excited to further build out the construction department to best serve both borrowers and investors."
Earlier in his career, Mr. Cooper was the onsite supervisor and project manager for a two-year project, building an ultra-luxury custom home for a celebrity client in the Trousdale Estates neighborhood of Beverly Hills, with the highly regarded general contractor Corbin Reeves. From 2013 to 2015, Mr. Cooper was a project manager for ANR Industries, where he oversaw all aspects of luxury single-family residential construction projects in the Los Angeles area, from conceptual design through final sale. From 2010 to 2013, Mr. Cooper worked as a project manager for Anchor Loans where he oversaw all aspects of remodeling for single-family residential projects with resale values between $700,000 and $3,000,000.
Arixa Capital's Managing Director, Greg Hebner, said, "We are excited to bring someone like Eric onto the Arixa team. Eric's deep construction experience and his passion for client service is an ideal fit for our team. As Arixa continues to grow its lending business across larger construction projects and new geographies, Eric's extensive industry knowledge will allow us to execute on our growth plans and maintain the high level of service that our clients expect, while also mitigating risk for our fund investors."
Contact:
Eric Cooper
Vice President, Construction Operations
M 818-692-9646
E ecooper@arixacapital.com
About the Company
Arixa Capital is one of the premier private real estate lenders and credit fund managers in the Western U.S., providing small balance loan solutions to lower middle-market residential and commercial investors and developers. Visit www.arixacapital.com for more information on investing or borrowing.
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https://www.wibw.com/prnewswire/2022/03/31/bmo-led-sustainability-social-bonds-recognized-by-environmental-finances-2022-bond-awards/
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- City of Toronto Social Bond wins Social Bond of the Year, Local Authority/Municipality category – BMO Joint-Lead Manager
- World Bank Sustainability Bond wins Sustainability Bond of the Year, Supranational category – BMO Joint-Lead Manager
- City of Vancouver Sustainability Bond wins Sustainability Bond of the Year, Local Authority/Municipality category – BMO Joint Bookrunner
TORONTO, March 31, 2022 /PRNewswire/ - The City of Toronto Social Bond, the World Bank Sustainability Bond, and the City of Vancouver Sustainability Bond were recognized today by Environmental Finance's 2022 Bond Awards in the categories of Social Bond of the Year – Local Authority/Municipality, Sustainability Bond of the Year – Supranational, and Sustainability Bond of the Year – Local Authority/Municipality. BMO Financial Group (BMO) acted as Joint-Lead Manager on the City of Toronto and World Bank bond issuances, and Joint Bookrunner on the City of Vancouver Sustainability Bond issuance.
The City of Toronto's Social Bond is the city's second Social Bond, following on their inaugural issue in June 2020 – the first-ever Social Bond from a Canadian Government issuer – which BMO also led. The Social Bond, issued under Toronto's Social Debenture Framework, is part of a program to promote positive socioeconomic outcomes, from affordable housing and access to essential infrastructure and services, to socioeconomic advancement and empowerment.
The World Bank Sustainability Bond is an $8 billion 2-year and 7-year Dual-Tranche Fixed-Rate Global Sustainability Bond launched in April 2021. The World Bank has been issuing sustainable development bonds in the international capital markets for over 70 years to fund programs and activities that achieve a positive impact. BMO is proud to be a joint lead-manager on this issuance. World Bank bonds are aligned with the Sustainability Bond Guidelines published by the International Capital Market Association and support the financing of a combination of green and social projects, programs, and activities.
The inaugural City of Vancouver Sustainability Bond was the first Sustainability Bond from a Canadian governmental issuer. Proceeds of the bond are supporting eligible projects such as green buildings, renewal and upgrade of the main sewer and a fire hall, street and bridge infrastructure, an accessibility program to provide access to essential services, a climate emergency response program and a seawall maintenance program.
"As Joint-Lead Manager we're pleased with the recognition the City of Toronto Social Bond, the World Bank Sustainability Bond, and the City of Vancouver Sustainability Bond have received from Environmental Finance," said Jonathan Hackett, Head, BMO Sustainable Finance. "These transactions are leading examples in sustainable financing that we believe will act as a catalyst to others as they explore social and sustainability labeled financing and BMO is excited to be a leader working with our clients in this space -- one that so closely aligns with our Purpose to Boldly Grow the Good, in business and life."
BMO is a recognized sustainability leader
Carbon neutral in its own operations since 2010, BMO announced its Climate Ambition in March 2021 with a commitment to deploy $300 billion in sustainable lending and underwriting to companies pursuing sustainable outcomes by 2025. BMO is focused on being its clients' lead partner in their transition to a net zero world and, since December 2019, has completed green and sustainability-linked loans for companies in a range of sectors, with targets including decarbonization, diversity & inclusion, and health and safety. To support clients' pursuit of opportunities driven by the increasing momentum of the global economy's shift in production and consumption of energy, in 2021 BMO established a dedicated Energy Transition Group and the BMO Climate Institute.
BMO's leadership on sustainability has been recognized by the Wall Street Journal's 100 Most Sustainably Managed Companies in the World, Corporate Knights' Global 100 Most Sustainable Corporations, Dow Jones Sustainability Indices World Index, and Ethisphere Institute's list of the World's Most Ethical Companies.
For more information on BMO's commitment to a sustainable future, please visit the bank's latest Sustainability Report. To learn more about sustainable finance at BMO click here. For BMO's climate ambition, visit its Climate page.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.02 trillion as of January 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
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https://www.wibw.com/prnewswire/2022/03/31/conrad-industries-announces-2021-results-backlog/
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MORGAN CITY, La., March 31, 2022 /PRNewswire/ -- Conrad Industries, Inc. (OTC Pink: CNRD) today announced its 2021 results and backlog.
The Company had net income of $6.5 million and earnings per diluted share of $1.29 for the twelve months ended December 31, 2021 compared to net loss of $4.0 million and loss per diluted share of $0.80 for the twelve months ended December 31, 2020. Net income for 2021 includes other income related to Payment Protection Plan loan forgiveness and Employee Retention Credit. The Company's financial reports are available at www.otcmarkets.com.
Our backlog as of December 31, 2021 was $148.5 million, compared to $183.7 million at December 31, 2020, and $79.2 million at December 31, 2019.
Johnny Conrad, Chairman and CEO stated, "Our results for 2021 reflect a continued challenging operating environment. The improving but uneven pace of pandemic recovery in 2021 was accompanied by sharp increases in steel prices, inflationary price increases in other materials and equipment, supply chain disruptions and a tight labor market."
Mr. Conrad continued, "Although we face substantial uncertainties in our markets, we believe we are well-positioned to take advantage of opportunities when market fundamentals improve. We believe customers have delayed orders due to high steel prices and pandemic uncertainties, and that some of these orders will move forward when steel prices decline or our customers' business opportunities or fleet replacement needs require the vessels. We have seen a continued strong market for dredging and other infrastructure-related vessels, which we expect may continue, supported by the Infrastructure Investment and Jobs Act enacted in 2021. We are also optimistic about opportunities in our repair and conversions segment."
Mr. Conrad concluded, "We are optimistic about our long-term prospects including the recent award of a contract by the U.S. Navy for the design and construction of a Yard, Repair, Berthing and Messing ("YRBM") barge, with options for an additional seven barges. This contract along with the infrastructure and repair markets are encouraging signs for the future of our business."
Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel products for both the commercial and government markets. The company provides both repair and new construction services at its five shipyards located in southern Louisiana and Texas.
Cautionary statement: This press release contains forward-looking statements, which are all statements other than those of historical facts, and reflect our expectations as of the date of this press release about future events. Forward-looking statements are subject to risks and uncertainties, including risks and uncertainties related to the COVID-19 pandemic, current high steel prices and constrained availability, competition, our reliance on cyclical industries, ability to perform contracts at costs consistent with estimated costs utilized in bidding, and ability to replenish our backlog and compete in changing markets. These and other risks are discussed in more detail in our Annual Report and subsequent reports available on www.otcmarkets.com. Should one or more of these risks materialize, achievement of anticipated results may differ materially from those anticipated. We do not intend to update these forward-looking statements, other than through our regular quarterly and annual reports.
For Information Contact:
Cecil A. Hernandez (985) 702-0195
CAHernandez@ConradIndustries.com
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SOURCE Conrad Industries, Inc.
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https://www.wibw.com/prnewswire/2022/03/31/escalade-announces-first-quarter-2022-results-conference-call-date/
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EVANSVILLE, Ind., March 31, 2022 /PRNewswire/ -- Escalade, Inc. (NASDAQ: ESCA, or the "Company"), a leading manufacturer and distributor of sporting goods and indoor/outdoor recreational equipment, today announced that it will issue first quarter 2022 results before the market opens on Thursday, April 14, 2022.
A conference call will be held Thursday, April 14, 2022, at 11:00 a.m. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session.
A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of Escalade's website at www.escaladeinc.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.
ABOUT ESCALADE
Founded in 1922, and headquartered in Evansville, Indiana, Escalade designs, manufactures, and sells sporting goods, fitness, and indoor/outdoor recreation equipment. Our mission is to connect family and friends creating lasting memories. Leaders in our respective categories, Escalade's brands include Bear® Archery; STIGA® table tennis; Accudart®; RAVE Sports®; Victory Tailgate®; Onix® Pickleball; Goalrilla™; Lifeline® fitness products; Woodplay®; Brunswick Billiards®. Escalade's products are available online and at leading retailers nationwide. For more information, visit www.escaladeinc.com
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements relating to present or future trends or factors that are subject to risks and uncertainties. These risks include, but are not limited to: specific and overall impacts of the COVID-19 global pandemic on Escalade's financial condition and results of operations; the impact of competitive products and pricing; product demand and market acceptance; new product development; Escalade's ability to achieve its business objectives, especially with respect to its Sporting Goods business on which it has chosen to focus; Escalade's ability to successfully achieve the anticipated results of strategic transactions, including the integration of the operations of acquired assets and businesses and of divestitures or discontinuances of certain operations, assets, brands, and products; the continuation and development of key customer, supplier, licensing and other business relationships; Escalade's ability to develop and implement our own direct to consumer e-commerce distribution channel; Escalade's ability to successfully negotiate the shifting retail environment and changes in consumer buying habits; the financial health of our customers; disruptions or delays in our business operations, including without limitation disruptions or delays in our supply chain, arising from political unrest, war, labor strikes, natural disasters, public health crises such as the coronavirus pandemic, and other events and circumstances beyond our control; Escalade's ability to control costs; Escalade's ability to successfully implement actions to lessen the potential impacts of tariffs and other trade restrictions applicable to our products and raw materials, including impacts on the costs of producing our goods, importing products and materials into our markets for sale, and on the pricing of our products; general economic conditions; fluctuation in operating results; changes in foreign currency exchange rates; changes in the securities markets; continued listing of the Company's common stock on the NASDAQ Global Market and/or inclusion in market indices such as the Russell 2000; Escalade's ability to obtain financing and to maintain compliance with the terms of such financing; the availability, integration and effective operation of information systems and other technology, and the potential interruption of such systems or technology; risks related to data security of privacy breaches; and other risks detailed from time to time in Escalade's filings with the Securities and Exchange Commission. Escalade's future financial performance could differ materially from the expectations of management contained herein. Escalade undertakes no obligation to release revisions to these forward-looking statements after the date of this press release.
INVESTOR RELATIONS CONTACT
Patrick Griffin
Vice President - Corporate Development & Investor Relations
812-467-1358
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https://www.wibw.com/prnewswire/2022/03/31/extra-space-storage-inc-announces-date-earnings-release-conference-call-discuss-1st-quarter-2022-results/
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SALT LAKE CITY, March 31, 2022 /PRNewswire/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) announced today it will release financial results for the three months ended March 31, 2022 on Tuesday, May 3, 2022 after the market closes. The Company will host a conference call at 1:00 p.m. Eastern Time on Wednesday, May 4, 2022 to discuss its financial results. Hosting the call will be Extra Space Storage's CEO, Joe Margolis. Joining him will be Scott Stubbs, Executive Vice President and CFO.
During the conference call, company officers will review operating performance, discuss recent events, and conduct a question-and-answer period. The question-and-answer period will be limited to registered financial analysts. All other participants will have listen-only capability.
The playback can be accessed beginning on May 4, 2022 at 4:00 p.m. ET through May 11, 2022 at 4:00 p.m. ET.
The conference call will also be available on the Company's website under Investor Relations at www.extraspace.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 30 days on the Company's website.
Full Text of the Earnings Report and Supplemental Data
The full text of the earnings report and supplemental data will be available at the Company's website at http://ir.extraspace.com immediately following the earnings release to the wire services after the market close on Tuesday, May 3, 2022.
For those without Internet access, the earnings release will be available by mail or fax, on request. To receive a copy, please call Extra Space Storage Investor Relations at (801) 365-1759.
About Extra Space Storage Inc.
Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500. As of December 31, 2021, the Company owned and/or operated 2,096 self-storage properties, which comprise approximately 1.5 million units and approximately 160.9 million square feet of rentable storage space offering customers conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage properties in the United States and is the largest self-storage management company in the United States.
For more information, please visit www.extraspace.com.
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https://www.wibw.com/prnewswire/2022/03/31/fresh-vine-wine-announces-fourth-quarter-full-year-2021-financial-results/
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December 2021 IPO Provides Capital to Accelerate Growth Strategy
2021 Revenues Increase 681% While Fourth Quarter Revenues Grew 19% Sequentially Compared to the Third Quarter, Reflecting an Acceleration in Momentum and an Inflection Point in the Company's Growth Trajectory – With Most Growth Occurring Prior to IPO Funding
IPO Proceeds Deployed to Grow the Brand, Increase Awareness, and Procure Inventory to Sustain Strong Sequential Momentum in 2022
Over 1,000 New Points of Distribution Added in First Quarter, More Than All of Last Year
Celebrities Nina Dobrev and Julianne Hough, Initial and Ongoing Investors, Continue to Enthusiastically Endorse FVW Celebrating Partners and Product Launches Among Their More Than 30 Million Social Media Followers
MINNEAPOLIS, March 31, 2022 /PRNewswire/ -- Fresh Vine Wine, Inc. (NYSE American: VINE), the premier producer of premium lower carb, lower sugar, and lower calorie wines in the United States, today reported strong financial results for the three months and fiscal year ended December 31, 2021, including year-over-year annual revenue growth of 681% from $217 thousand in 2020 to $1.700 million in 2021.
Janelle Anderson, CEO of Fresh Vine Wine, Inc., said, "I am extremely proud of our team, which grew the business both for the year and sequentially in the fourth quarter by executing on extremely aggressive marketing and go-to-market strategy, while concurrently completing our IPO. This reflects an inflection in the company's growth trajectory and is indicative of the results we expect this year. We have already put the IPO proceeds to work building our brand, investing in our people, and procuring inventory. In the first quarter of 2022, we added over 1,000 new points of distribution (PODs), which is more than twice the 900 PODs we had at time of IPO. We believe that this leading indicator, coupled with our increased inventory levels, suggest accelerating revenue growth and strong first quarter results."
Ms. Anderson continued, "The speed of our expansion is remarkable, which speaks to the quality of our sales and marketing strategy and the pedigree of our organization. Our success reinforces the viability of consumer demand for our category-defining, premium tasting brand of lower carb, lower sugar, lower calorie wines. We plan to continue this positive trajectory in 2022 by introducing new product offerings and expanding our marketing efforts, in part by leveraging the 30 million-plus social media followers of our celebrity spokespeople and co-founders, Nina Dobrev and Julianne Hough. It is encouraging and rewarding to begin this year with significant positive momentum."
Recent Business Highlights
- In December 2021, the Company closed its Initial Public Offering, raising net proceeds of $19.2 million
- Added 1,000 Points of Distribution in the first quarter
Retail
- Launched in our first national "C-Store" where we have been authorized at their more than 1,600 California locations
- Securing a top national convenience store chain to carry our wines in the state of California is a true breakthrough for Fresh Vine Wine and further validates the demand for our lower carb, lower calorie, lower sugar premium wines
- Secured placement at the newest resort on the Famous Las Vegas Strip
- FVW wines premium Cabernet Sauvignon, Chardonnay and other varietals will be featured at 22 various venues at the newly launched Resorts World Las Vegas
- Expanded partnership with retail grocer, Hy-Vee, for the distribution of our premium Limited Reserve Napa Cabernet
- To be featured at all Hy-Vee stores in the Upper Midwest
- Announced a partnership with CRAVE American Kitchen & Sushi Bar
- Featured as a premium wine pairing and frequently recommended as the perfect complement to their special lunch and dinner menus
Geographic Expansion
- Expanded into 6 new states in the first quarter of 2022, including Nevada coincident with the Resorts World launch
- FVW now available nationwide, one of the Company's key strategic priorities.
Direct to Consumer
- Experienced record-breaking single day sales on two separate occasions, reflecting the impact of our social media marketing strategy
- Record demand after major shareholders Nina Dobrev and Julianne Hough appeared across national media following VINE IPO day and then again after their appearance on The Ellen Show https://bit.ly/36VuRd4. Expect more exciting appearances representing Fresh Vine Wine by these highly influential celebrities
New Product Release
- Released a fifth varietal, a Limited Reserve Napa Cabernet Sauvignon
- The introduction of this premium wine represents further progress in our business objectives to leverage our presence at retail to increase distribution and fuel future growth.
- Announced the bottling of our 2021 Vintage Rosé at 21 times the quantity of 2020 Rosé bottled
- After selling out the entire 2020 Rosé Vintage within months of bottling, now bottling the 2021 Vintage Rosé at 21 times the amount of Rosé bottled for the 2020 vintage.
Fourth Quarter and Fiscal Year 2021 Financial Results and Commentary
Net revenue in fiscal 2021 was $1.70 million, up from $217,000 in fiscal 2020. Growth was primarily attributable to our increased presence in the wholesale market, where we significantly expanded our distributor network and geographic presence, and the introduction of our wine club, which drove direct-to-consumer sales. Of total 2021 revenue, $773,000 was from our wholesale distribution channel and $774,000 was from our direct-to-consumer sales channel. As fourth quarter revenues were affected by an inventory drawdown precipitated by very strong demand, the Company used this period to accelerate the timing of the launch of its Strategic Services segment, which netted over $150,000 of revenue in the quarter, and is expected to continue quarterly in fiscal 2022. Selling, general and administrative expenses were $4.79 million for the fiscal year ended December 31, 2021, compared to $1.33 million for the fiscal year ended December 31, 2020, largely driven by increases in Selling, Marketing and General & Administrative expenses. The year-over-year increase in Marketing expenses primarily resulted from our sports marketing partnerships while the increase in General & Administrative expenses is the result of increased salaries and wages needed to support the growth in sales. Selling expenses generally follow our sales volume growth. The Company reported a net loss of $9.97 million, or ($1.12) per share, for fiscal 2021, compared to a net loss of $1.29 million, or ($0.21) per share in fiscal 2020.
Liquidity and Capital Resources
- The Company's cash and cash equivalents balance as of December 31, 2021, was $16.1 million. The Company has no material debt.
About Fresh Vine Wine, Inc.
Fresh Vine Wine, Inc. (NYSE American: VINE) is a premier producer of lower carb, lower calorie premium wines in the United States, kicking off a 2022 growth plan following its IPO in mid-December 2021. Fresh Vine Wine's brand vision is to lead the emerging natural and accessible premium wine category, as health trends continue to accelerate in the US marketplace. The 2020 US wine market was a $69 billion category. Fresh Vine Wine plans to accelerate growth in 2022 by amplifying its marketing, expanding product offerings, and expanding its team. Fresh Vine Wine positions its core brand lineup as an affordable luxury, retailing between $14.99-$22.99. Fresh Vine Wine's varietals currently include its Cabernet Sauvignon, Chardonnay, Pinot Noir, and Rosé.
Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including statements regarding the timing or nature of future operating or financial performance or other events. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company's ability to hire additional personnel and to manage the growth of its business; the Company's reliance on its brand name, reputation and product quality; the Company's ability to adequately address increased demands that may be placed on its management, operational and production capabilities; the effectiveness of the Company's advertising and promotional activities and investments; the Company's reliance on celebrities to endorse its wines and market its brand; general competitive conditions; fluctuations in consumer demand for wine; overall decline in the health of the economy and consumer discretionary spending; the occurrence of adverse weather events, natural disasters, public health emergencies, or other unforeseen circumstances that may cause delays to or interruptions in the Company's operations; risks associated with disruptions in the Company's supply chain for grapes and raw and processed materials; the impact of COVID-19 and its variants on the Company's customers, suppliers, business operations and financial results; disrupted or delayed service by the distributors the Company relies on for the distribution of its wines; the Company's ability to successfully execute its growth strategy; the Company's success in retaining or recruiting, or changes required in, its officers, key employees or directors; the Company's ability to protect its trademarks and other intellectual property rights; the Company's ability to comply with laws and regulations affecting its business, including those relating to the manufacture, sale and distribution of wine; claims, demands and lawsuits to which the Company may be subject and the risk that its insurance or indemnities coverage may not be sufficient; the Company's ability to operate, update or implement its IT systems; the Company's ability to successfully pursue strategic acquisitions and integrate acquired businesses; the Company's potential ability to obtain additional financing when and if needed; the Company's founders' significant influence over the Company; and the risks identified in the Company's other filings with the SEC. The Company cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read the Company's filings with the SEC, available at www.sec.gov for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. The Company's business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Contact: freshvinewine@jonesworks.com
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https://www.wibw.com/prnewswire/2022/03/31/frigo-cheese-heads-brand-awards-30000-winning-schools-its-8th-annual-build-bright-future-program/
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LINCOLNSHIRE, Ill., March 31, 2022 /PRNewswire/ -- Today, Frigo® Cheese Heads® announced the winning schools in its "Build a Bright Future" program, which is aimed at helping schools improve their learning experience and environment through funding for equipment, materials and renovations. Schools across the country had the opportunity to be nominated for the chance at a grand prize of $10,000, followed by 10 runner-up awards. The grand prize-winning school, Desert Star Elementary in Goodyear, Arizona, was revealed today during a morning student assembly that included a surprise visit and a check presentation from the Frigo® Cheese Heads® mascot.
During the period of August 2021 to October 2021, parents, teachers and other adults across the country were invited to submit a video or written nomination explaining why their school deserved to win. All entries were evaluated by a panel of judges for the overall quality of the nomination and the proposed benefit to the school's educational needs. A total of 945 nominations from K-8 schools nationwide were received this year. The judges then narrowed down the list to 11 finalists, and community members, school supporters and fans were invited to vote on social media to determine the grand prizewinner. Winning entries can be viewed at CheeseHeadsBrightFuture.com.
The runner-up schools receiving $2,000 each include:
- Angie Debo Elementary – Edmond, Oklahoma
- Atlantis Academy – Coral Springs, Florida
- Birdilee V. Bright Elementary School – Los Angeles
- Boulder Creek Elementary School – Boulder Creek, California
- Cambridge Elementary School – Jeffersonville, Vermont
- Dunham Elementary School – Petaluma, California
- Elmwood Elementary School – Baltimore
- Meadowlark Elementary School – Billings, Montana
- Valley Elementary School – Poway, California
- Woodland Hills Elementary – Woodland Hills, California
"Giving children the tools and environment to thrive in school starts with the little things like proper equipment, access to nutritious food and other needed supplies and upgrades to help the incredible teachers and school staff who guide their learning," said Saputo Dairy USA Vice President, Marketing and Innovation David Cherrie. "We are proud to support education through the Frigo® Cheese Heads® 'Build a Bright Future' program and look forward to seeing the impact this funding will have to benefit the schools, their teachers and their students."
"We are extremely proud of our community and the support we received during the voting period for the Frigo® Cheese Heads® Build a Bright Future program. Our students deserve the best and that is what we plan to do with our new lab — give them the best science experience so that they can grow as thinkers, problem-solvers and communicators," said Desert Star Principal Jessica Worthington.
Thank you to all who nominated their school or voted, and congratulations to the winning schools!
About Frigo® Cheese Heads®
Frigo® Cheese Heads® cheese is the creamy, delicious, stringy and fun on-the-go snack for both kids and adults. With everyday snacking options like regular or light string cheese, as well as cheese and meat combo packs, Frigo® Cheese Heads® brand products are a good source of calcium and protein in a convenient individually wrapped, enjoyable snack. Learn more at FrigoCheeseHeads.com.
About Saputo Dairy USA
Saputo Dairy USA is part of Saputo Inc., one of the top 10 dairy processors in the world. Through the Dairy Division (USA), Saputo produces, markets and distributes a vast assortment of cheeses. Furthermore, the company converts, markets and sells a broad range of specialty cheeses and holds an important portfolio of import licenses for specialty cheeses manufactured abroad. Saputo Dairy USA also produces a variety of dairy and non-dairy extended shelf-life products. Additionally, Saputo produces, markets and distributes dairy ingredients in the U.S. and on the international market. Products are sold under a variety of the company's brand names, as well as under customer brand names.
Saputo Dairy USA is among the top mozzarella, string cheese, domestic blue and goat cheese producers and is one of the largest producers of extended shelf-life and cultured dairy products in this region.
Media contact:
Samantha Liebhard
612-375-8579
samantha.liebhard@clynch.com
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https://www.wibw.com/prnewswire/2022/03/31/hallaron-advertising-agency-using-digital-ads-update-local-political-campaigns/
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THE WOODLANDS, Texas, March 31, 2022 /PRNewswire/ -- Hallaron, a full-service advertising and branding agency in The Woodlands, Texas has begun using digital advertising platforms to serve smaller, local political advertisers. The advantage is using microtargeted geographic and behavioral factors to serve highly custom display and video ads to local voters. The results point to more efficient campaigns that can get better results even with monthly ad spends less than $10,000.
Through a collaborative partnership with Vici Media Inc., based in Philiadelphia, PA, Hallaron began using sophisticated digital platforms including precise targeting tools to serve ads among local county and even city elections in early 2022 primaries. Often reserved for larger business or political clients, Hallaron uses the same big-client ad tools to shape strategy for smaller local low budget campaigns. Often the focus is replacing older marketing thinking with smarter targeting that serves ads to local voters using cell phones and social media instead of billboards or direct mail.
"Our new political campaigns aim to serve voters with ads where they consume daily news and entertainment – that's through their mobile phones and the Internet," explains agency principal Mike Hallaron.
Statista reports that mobile media usage in the United States is set to increase to four hours and 29 minutes per day in 2022. Compare that time with traditional drive time and radio listening, print, or TV viewership.
Because of lengthy Covid-19 shutdowns, Hallaron says many Americans extended their digital and mobile reliance even further – turning to these devices for business, shopping, and reaching the world beyond their front door.
Direct mail is still popular in most small market political races where access to new digital techniques lags behind. Inexpensive yard signs are still widely used but limited. Digital and mobile ads include links to landing pages where voters can watch a candidates videos, read a bio, or review her platform positions on local issues. "When you add a well-executed social strategy on Facebook, the frequency and reach for a small campaign can be game-changing," Hallaron says.
Hallaron's digital partner Vici Media works with nearly 200 ad agencies and media companies in the U.S., serving 3 billion digital ad impressions annually. The company was named to Deloitte's Technology Fast 500 in 2020. Hallaron sees more clients educating themselves about creative digital media strategies, such as geofencing, mobile conquesting and social mirroring techniques, for example.
Hallaron Advertising Agency is an award-winning full-service ad agency in The Woodlands, Texas. Since 2003, Hallaron has helped reshape winning brands and mastered creative advertising campaigns that lead to better sales and business growth for their clients. Visit www.hallaron.com to learn more.
Media contact:
Mike Hallaron
mike@hallaron.com
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https://www.wibw.com/prnewswire/2022/03/31/heritage-financial-announces-earnings-release-date-conference-call/
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OLYMPIA, Wash., March 31, 2022 /PRNewswire/ -- Heritage Financial Corporation ("Company" or "Heritage") (Nasdaq: HFWA) anticipates issuing its first quarter earnings release on Thursday, April 21, 2022 before the market opens. The Company has scheduled a telephone conference call to discuss the first quarter on Thursday, April 21, 2022 at 11:00 a.m. Pacific time (2:00 p.m. Eastern time).
To access the conference call, call the numbers listed below:
The conference call will be recorded and will be available following the live conference call for replay twenty-four hours a day ending April 28, 2022. Questions regarding the conference call may be directed to Kaylene Lahn at 360-943-1500.
About Heritage Financial
Heritage Financial Corporation is an Olympia-based bank holding company with Heritage Bank, a full-service commercial bank, as its sole wholly-owned banking subsidiary. Heritage Bank has a branching network of 49 banking offices in Washington and Oregon. Heritage Bank also does business under the Whidbey Island Bank name on Whidbey Island. Heritage's stock is traded on the NASDAQ Global Select Market under the symbol "HFWA". More information about Heritage Financial Corporation can be found on its website at www.hf-wa.com and more information about Heritage Bank can be found on its website at www.heritagebanknw.com.
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SOURCE Heritage Financial Corporation
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https://www.wibw.com/prnewswire/2022/03/31/hg-global-closes-new-150-million-credit-facility/
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HAMILTON, Bermuda, March 31, 2022 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) announced today that HG Global Ltd. ("HG") closed a new $150 million, 10-year term loan credit facility with Hudson Structured Capital Management Ltd, (conducting its re/insurance business as HSCM Bermuda) and Security Benefit Life Insurance Company. HG expects to receive the proceeds of the loan on or prior to May 31, 2022. A portion of the proceeds of the loan will be used to pay a $120 million dividend to White Mountains Insurance Group, Ltd. and the other equity holders of HG. The facility received an investment grade rating of BBB from Kroll Bond Rating Agency, LLC. The facility does not impact the reinsurance obligations of HG Re Ltd.
White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM.
Hudson Structured Capital Management Ltd., conducting its re/insurance investment management business as HSCM Bermuda ("HSCM"), is an asset manager focused on alternative investments seeking mezzanine level returns. HSCM focuses on the Re/Insurance and Transportation sectors. HSCM launched in 2016, and as of January 1, 2022 had more than $3 billion in assets under management and committed capital. HSCM focuses on core economic sectors that are likely to outgrow global GDP, offer low correlations with broader markets, and are experiencing a shift from balance sheet to market financing. For more information, please visit www.hscm.com.
Security Benefit Corporation ("Security Benefit"), through its subsidiary Security Benefit Life Insurance Company (SBL), a Kansas-based insurance company that has been in business for 130 years, is a leader in the U.S. retirement market. Security Benefit together with its affiliates offers products in a full range of retirement markets and wealth segments for employers and individuals and reached $50.5 billion in assets under management as of September 30, 2021. Security Benefit, an Eldridge business, is one of the fastest growing U.S. retirement companies and continues its mission of helping Americans To and Through Retirement®. Learn more at www.securitybenefit.com or www.eldridge.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which White Mountains expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements include statements with respect to the funding of, or receipt of proceeds from, a loan and HG's payment of a dividend from the proceeds of such loan.
These statements are based on certain assumptions and analyses made by White Mountains in light of current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual developments will conform to its expectations is subject to risks and uncertainties that could cause actual results to differ materially from expectations, including actions taken by ratings agencies, such as financial strength or credit ratings downgrades or placing ratings on negative watch; the continued availability of capital and financing; deterioration of general economic; changes in domestic or foreign laws or regulations, or their interpretation, applicable to White Mountains or HG, its competitors or its customers; and other factors, most of which are beyond White Mountains's control.
Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the developments anticipated by White Mountains will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, White Mountains or its business or operations. White Mountains assumes no obligation to publicly update any such forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Rob Seelig
(603) 640-2212
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SOURCE White Mountains Insurance Group, Ltd.
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https://www.wibw.com/prnewswire/2022/03/31/leith-grows-with-moore-county-opens-upgraded-expanded-honda-dealership-aberdeen/
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ABERDEEN, N.C., March 31, 2022 /PRNewswire/ -- The fast growth of Moore County, including Aberdeen, Pinehurst, and Southern Pines, caused a few growing pains for General Manager Scott Weaver and his team at Leith Honda Aberdeen, "The growth in Aberdeen is so great that we just outgrew our building. It was time." Last weekend, his team cut the ribbon and drove vehicles to their new, expanded facility adjacent to the original Leith Honda Aberdeen location on US 15-501.
The new building includes an expanded showroom giving customers a more relaxed environment to shop and explore the showcased inventory. Also, their waiting area has expanded for customers' comfort and includes business workstations for those who need to work while they wait.
Weaver and Service Manager Mark Posey are most excited about their new state-of-the-art service department. The new facility holds twice as many service bays as the former building, complete with new tire balancers, express bay lifts, and individual fluid and air filling stations.
"When we have to walk to the parts counter to get oil and washer fluid for our vehicles, it adds to the customer's wait time," said Posey. "Now we will have oil and washer fluid, water, light, and electrical reels right at our fingertips."
Even with a new building, the one thing that won't change is Leith's tradition to take the best care of their customers. Posey says that commitment is what has kept customers coming back for generations. "We've got people that we have retained since I've been here. I have worked on their mother's and grandmother's cars."
LeithCars.com is one of the largest automotive groups in North Carolina. A family business created in Raleigh, Leith Cars has been serving the Triangle community for over 50 years, incorporating over 1,900 North Carolinians into its family. The number one place to buy vehicles in the Raleigh metro area for five years running, according to a Marshall Marketing Survey, the auto dealer has 39 franchise locations throughout the state. For more information, visit www.leithcars.com.
Media Contact:
Lora Johnson
919-832-3232
lora.johnson@leithcars.com
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https://www.wibw.com/prnewswire/2022/03/31/lg-commits-150000-new-orleans-based-st-augustine-high-school/
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Establishes "LG Life's Good Endowed Scholarship Fund" and Contributes to Rebuild of Fire-Damaged Basketball Court and Other Technology Upgrades at the School
NEW ORLEANS, March 31, 2022 /PRNewswire/ -- As March Madness® and the Men's Final Four® reaches its crescendo in New Orleans, LG Electronics USA, an official NCAA® partner, announced today it has committed $150,000 in funding as well as product to St. Augustine High School, a New Orleans-based college preparatory school.
The pledge from LG will establish the "LG Life's Good Endowed Scholarship Fund" at the school as well as contribute to the rebuild of the school's flood and fire-damaged basketball court. LG is also supplying a range of products including LG OLED TVs for a new film room in its Health & Wellness Center, LG Washers & Dryers for a new laundry room and LG Air Purifiers for use throughout the school. The LG Life's Good Endowed Scholarship Fund, which will award its first recipient this year, is a need-based general award that all St. Augustine High School graduating seniors can apply for as long as they are going to attend an NCAA school.1
"As a proud partner of the NCAA, LG wanted to give back to the host city of the Men's Final Four and help inspire the next wave of student athletes in New Orleans," said Peggy Ang, Senior Vice President of Marketing at LG Electronics USA. "When our partners at the NCAA, Turner Sports and CBS Sports, brought to us the story of St. Augustine and the positive impact that school has in its community, we wanted to help them continue their tradition of inspiring students to succeed in the classroom and on the field of play."
"We are truly grateful for this inspiring commitment from LG," said Aulston Taylor, President & CEO at St. Augustine High School. "The St. Augustine community is thrilled that LG has decided to invest in the future of our students and our school. Our basketball court and Health & Wellness Center are a symbol of resiliency at St. Augustine, as it has emerged stronger after Hurricane Katrina, Hurricane Ida, and most recently a fire on Thanksgiving Day last year. With the help of friends like LG and many other supporters of our school, we are on the path to rebuilding our facility to its former glory. We will prevail!"
St. Augustine High School is an all-boys Catholic high school founded in 1951. Educating students primarily of predominantly African American backgrounds, the school serves as a training ground for leadership through academic excellence and moral values. It is also home to the world-renowned marching band, "Marching 100", which was the first high school band to march in the Rex Parade on Mardi Gras Day in 1967. The band has since played for eight U.S. Presidents, and performed at five Super Bowls, the Macy's Thanksgiving Day Parade in NYC, and the Tournament of Roses Parade in Pasadena, California. The band will perform at the halftime of this year's second Final Four game. To learn more about St. Augustine High School's fund raising efforts, please visit staugnola.org/lg
LG's commitment to St. Augustine High School arose as part of a three-year partnership with the NCAA, Turner Sports, and CBS Sports for category exclusive marketing and distribution rights to NCAA Championship competitions, including March Madness, that will expand the reach of college sports to legions of current fans and generations of new ones. LG's support of the NCAA Championships will include multiple initiatives to inspire fans and support student athletes including the recent launch of the NCAA Championships Channel (Channel 100), which will feature up to 50 NCAA Fall, Winter and Spring championships, both live and on-demand via LG's exclusive free streaming service, LG Channels. To learn more about LG's partnership with the NCAA visit LG.com/NCAA.
Editor's Note:
Video footage of the LG check presentation ceremony at St. Augustine High School available here.
Footnote:
1 LG will not be involved in selecting scholarship recipients. Selection of the scholarship recipients will be the sole responsibility St. Augustine High School. Eligibility for the scholarship is need-based and does not require participation in athletics as a prerequisite.
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $63 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is a seven-time ENERGY STAR® Partner of the Year. The company's commitment to environmental sustainability and its "Life's Good" marketing theme encompass how LG is dedicated to people's happiness by exceeding expectations today and tomorrow. www.LG.com.
About St. Augustine High School
St. Augustine High School is a college preparatory school for young men in grades 8-12 founded in 1951 by the Josephite priests and brothers. St. Augustine High School has built a legacy serving as the training ground for leadership through academic excellence, moral values, Christian responsibility, and reasonable, consistent discipline. In 71 years, it has graduated 9,200 men.
About the NCAA®
The NCAA is a diverse association of more than 1,000 member colleges and universities that prioritize academics, well-being and fairness to create greater opportunities for nearly half a million student-athletes each year. The NCAA provides a pathway to higher education and beyond for student-athletes pursuing academic goals and competing in NCAA sports. More than 54,000 student-athletes experience the pinnacle of intercollegiate athletics by competing in NCAA championships each year. Visit ncaa.org and ncaa.com for more details about the association and the corporate partnerships that support the NCAA and its student-athletes. NCAA, Men's Final Four, and March Madness are trademarks of the National Collegiate Athletic Association.
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https://www.wibw.com/prnewswire/2022/03/31/locally-owned-company-helps-community-again/
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FRESNO, Calif., March 31, 2022 /PRNewswire/ -- Well Done Moving, Inc. once again shows its appreciation for its local community by offering a moving discount to first responders.
Well Done Moving created this initiative to express appreciation for our local First Responders by offering discounted moving services for the month of April. Sales Director, Lindsey Beasley states, "The success we've experienced is directly attributed to the amazing people of our community. As a family-owned, Fresno-based company, we are proud to be able to give back to a community that has entrusted us with their valuables for over a decade".
First Responders can take advantage of this opportunity within the Fresno, Madera, Kings, and Tulare counties.
Well Done Moving strives to actively give back to the local community by creating and participating in philanthropic events such as Moving Neighbors in need, Assisting Creek Fire evacuees, and supporting Habitat for Humanity by moving residents into their new homes.
For more information regarding the First Responder discount, please visit our website.
About Well Done Moving:
WDM is committed to creating a culture where employees are appreciated and an extension of its family. The company offers competitive pay and starts its team members off above minimum wage. In addition, it offers PTO/sick time, and team members have the opportunity to earn up to five weeks of vacation. These policies and commitment to the community set Well Done Moving apart in the moving industry and helped it grow into one of Fresno's most trusted local companies.
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https://www.wibw.com/prnewswire/2022/03/31/mcloud-host-fourth-quarter-year-end-2021-financial-results-conference-call-1000am-edt-april-4-2022/
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CALGARY, AB, March 31, 2022 /PRNewswire/ - mCloud Technologies Corp. (NASDAQ: MCLD) (TSXV: MCLD), ("mCloud" or the "Company") a leading provider of AI-powered asset management and Environmental, Social, and Governance ("ESG") solutions, today announced it will host a conference call to discuss the financial results for the year-end and fourth quarter of 2021 and its outlook on 2022 at 10:00am EDT on April 4, 2022.
The conference call will include prepared remarks from Russ McMeekin, Chief Executive Officer, and Chantal Schutz, Chief Financial Officer. After the prepared remarks, the Company will accept questions.
This date and time follows from the Company's release on March 30 it would add a discussion of its recent partnership with Carbon Royalty Corp and Middle East strategic financing alternatives to prepared remarks.
To access the conference call by telephone, dial 416-764-8659 or 1-888-664-6392 with the confirmation number 74107253. Please connect approximately 10 minutes prior to the beginning of the call to ensure participation. The conference call will be archived for replay by telephone until April 11, 2022 at midnight (ET). To access the archived conference call, dial 1-888-390-0541 and enter the reservation number 107253.
A live audio webcast of the conference call will be available at https://bit.ly/3NvJvZs. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above website for one year.
About mCloud Technologies Corp.
mCloud is unlocking the untapped potential of energy intensive assets with AI and analytics, curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure. Through mCloud's AI-powered AssetCare™ platform, mCloud offers complete asset management solutions for commercial buildings, renewable energy, healthcare, heavy industry, and connected workers. IoT sensors bring data from connected assets into the cloud, where AI and analytics are applied to maximize their performance.
With a worldwide presence and offices in San Francisco, Vancouver, Calgary, London, Perth, Singapore, and Beijing, the mCloud family includes an ecosystem of operating subsidiaries that deliver high-performance IoT, AI, 3D, and mobile capabilities to customers, all integrated into AssetCare. With over 100 blue-chip customers and more than 63,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed.
mCloud's common shares trade in the United States on the Nasdaq and in Canada on the TSX Venture Exchange under the symbol MCLD. mCloud's convertible debentures trade on the TSX Venture Exchange under the symbol MCLD.DB. For more information, visit www.mcloudcorp.com.
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https://www.wibw.com/prnewswire/2022/03/31/mohr-capital-sells-65-million-deals-past-80-days/
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Deals combine to more than 292,000 square feet of medical industrial and office space, including the Crothall Healthcare industrial building in Gilroy, California
GILROY, Calif., March 31, 2022 /PRNewswire/ -- Mohr Capital, a Dallas-based privately held real estate investment firm, sold $65 million of deals over the past 80 days. This includes the recent sale of a 102,466-square-foot industrial building in Gilroy, California, to Four Springs Capital Trust. Mohr Capital sold two additional office buildings in Florida and Wisconsin, totaling more than 292,000 square feet of space, leading into 2022.
Located at 8190 Murray Ave., the property is fully leased to Crothall Healthcare. This mission-critical facility provides state-of-the-art laundry processing services to Northern California hospital systems, enabling them to continue providing medical care to patients. Kevin Moul with Colliers San Jose represented Mohr Capital throughout the transaction.
"We are pleased to have worked closely with Four Springs Capital Trust on this transaction. As our third transaction with Four Springs over the last 12 months, this transaction speaks to our deep partnership with Four Springs that we hope continues," said Rodrigo Godoi, managing director of investments for Mohr Capital. "Mission-critical facilities that serve regional hospitals like this still provide value in a market where occupiers and investors are redeveloping dysfunctional R&D product to suit their needs. We're pleased with the performance of this property, and we hope to continue to invest in the Bay Area's bustling industrial market in the future."
Additionally, Mohr sold a two-story, 78,449-square-foot office building in Orlando's Lee Vista Center business park to Falcon Global Real Estate Advisors. Located at 6272 Lee Vista Blvd., the building is fully leased to Accredo Health Group Inc., an Express Scripts company and subsidiary of the global health service company, Cigna. Prior to the sale, Mohr Capital worked with CBRE and CIGNA to secure CIGNA's long-term occupancy while at the same time lowering its occupancy costs.
Mohr also sold Riverwood Corporate Center II in Pewaukee, Wisconsin, in an off-market transaction to IRA Capital. The office building is fully occupied by ProHealth Care, the largest healthcare provider between Milwaukee and Madison. Shortly after acquiring the building, Mohr Capital worked closely with ProHealth to secure its long-term occupancy at the property through 2032.
"These three transactions support our trajectory to be a leading investor in mission-critical industrial and office facilities for the healthcare field," said Bob Mohr, founder and CEO of Mohr Capital. "We are always on the lookout for cutting-edge investment opportunities, and these sales were a great start to 2022."
About Mohr Capital
Mohr Capital is a privately held real estate investment firm specializing in the acquisition, development and value enhancement of office, industrial and retail assets throughout the U.S. The Mohr Capital team has decades of experience in commercial real estate and has completed more than $1 billion in transactions. Guided by a value-driven strategy and an entrepreneurial spirit, the company relies on strong long-term relationships and possesses keen market insights needed to capitalize on undervalued or underperforming properties. With its family office structure, Mohr Capital can close quickly and has a proven track record of delivering the highest risk-adjusted returns. For more information, visit www.mohrcap.com or follow Mohr Capital on LinkedIn.
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https://www.wibw.com/prnewswire/2022/03/31/new-california-rebate-enables-valley-air-conditioning-amp-repair-help-community-save-7000-ac-systems/
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FRESNO, Calif., March 31, 2022 /PRNewswire/ -- The State of California recently launched its TECH Clean California initiative which is a $120 million program funded by California gas corporations to implement low emissions space and water heating units for single and multifamily homes.
For some homeowners considering a new air conditioning system, this California rebate can save them up to $7,000. Unlike solar incentives that require the homeowner to apply for the incentive with the State of California after the system is installed, the homeowner realizes the savings upfront with the TECH Clean California Initiative. The HVAC company that installs the system is then required to apply for reimbursement with the State.
To qualify, an electric heating and cooling unit must be installed by an approved HVAC company. Simon DeLaCerda, General Manager of Valley Air Conditioning and Repair has been installing these systems upon the launch and states, "I am pleased to offer the opportunity, we've seen incredible savings for homeowners and urge other homeowners to take advantage of this amazing deal".
The Switch Is On, is an educational campaign that has been launched to promote the TECH initiative and the benefits of home electrification. Learn more about the campaign through their site.
About Valley Air Conditioning
Valley Air Conditioning has over 52 years of experience in commercial and residential heating and air conditioning services in Fresno and the surrounding areas. They have been able to set themselves apart by continuing to build upon the foundation Tobbie Hopper set when he first started business in 1970 as a one-man shop. Valley Air Conditioning & Repair, Inc's goals have remained the same; to earn the trust of our customers by offering expert advice, quality services based on honorable intentions, never rushing to meet sales goals or quotas. It's one simple philosophy but many things have set Valley Air Repair apart over the years. For more information, visit https://valleyairrepair.com/
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https://www.wibw.com/prnewswire/2022/03/31/olympus-joins-cool-kids-with-acquisition-omega/
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STAMFORD, Conn., March 31, 2022 /PRNewswire/ -- Stamford, CT based private equity firm Olympus Partners has acquired Omega Environmental Technologies ("Omega"), the market leading aftermarket distributor of climate control products and other mission-critical components across the light and heavy-duty automotive sectors, from AEA Investors, which will remain a minority equity investor and retain a board position in the Company. Omega serves thousands of customers globally across the wholesale distribution, OE service, and automotive retail channels. The Company is headquartered in Irving, Texas and has over 20 distribution centers across the United States and Canada.
"The replacement air conditioning market is very attractive, with steadily growing demand and high barriers to entry due to the technical nature and SKU intensity of the product. Omega is the leader in this category with a portfolio of powerful brands and complete end market coverage. We look forward to working with Peter, Randy, and the rest of the management team to continue grow the Company," said Jason Miller, Partner at Olympus.
Peter Butterfield, Chairman of Omega, added, "I would like to thank AEA for their support over the past few years and look forward to partnering with the Olympus team. I have never been more excited about the prospects of the Company."
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries including business services, consumer products, healthcare services, financial services, industrial services, and manufacturing. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
The Olympus team included Jason Miller, Matt Bujor, and Alex Pollera. Olympus was represented by Ben Clinger, Adam Wexner, and Kat Murphy from Kirkland & Ellis LLP. Antares Capital LP led debt financing for the transaction.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA's approximately 100 investment professionals operate globally with offices in New York, Stamford, San Francisco, London, Munich and Shanghai. The firm manages funds that have over $14 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies, growth capital and mezzanine and senior debt investments. AEA Small Business is a strategy within AEA that currently manages $1.9 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with proven management teams and superior business models.
Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for growing companies. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing.
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https://www.wibw.com/prnewswire/2022/03/31/raytheon-missiles-amp-defense-awarded-651-million-produce-spy-6-radars-next-gen-us-navy-ships/
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The contract also includes four option years, worth additional $2.5 billion
TUCSON, Ariz., March 31, 2022 /PRNewswire/ -- Raytheon Missiles & Defense, a Raytheon Technologies (NYSE: RTX) business, was awarded a $651 million, with options totaling $2.5 billion, hardware, production and sustainment contract for full-rate production of the AN/SPY-6(V) Family of Radars. The contract, with options, totals $3.2 billion and five years of radar production to equip up to 31 U.S. Navy ships with SPY-6 radars.
Under the contract, RMD will produce solid state, fixed-face and rotating SPY-6 variants that will deliver unprecedented integrated air and missile defense capabilities for seven types of U.S. Navy ships over the next 40 years. Those vessels include the Navy's new Arleigh Burke class Flight III destroyers, aircraft carriers and amphibious ships; today's Flight IIA destroyers will be backfit with an upgraded radar.
"There is no other radar with the surface maritime capabilities of SPY-6," said Wes Kremer, president of Raytheon Missiles & Defense. "SPY-6 is the most advanced naval radar in existence, and it will provide our military a giant leap forward in capability for decades to come."
Since its inception, more than $600 million has been invested in the development and manufacturing of the SPY-6 family of radars. When compared to legacy radars, SPY-6 will bring new capabilities to the surface fleet, such as advanced electronic warfare protection and enhanced detection abilities.
SPY-6 array radar variants have between nine and 37 radar modular assemblies, known as RMAs. Common RMAs allow SPY-6 to be scalable and modular to support production for the U.S. and partner nations across all variants, to include the Enterprise Air Surveillance Radar. This commonality supports standardized logistics and training for those who work on the radars.
SPY-6 radar installation is complete on the Navy's first Flight III destroyer, the USS Jack H. Lucas (DDG 125), which is scheduled to be operational in 2024. Radar array deliveries are complete for the next ship in the class, the future USS Ted Stevens (DDG 128).
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
Media Contact
Tara Wood
rmdpr@rtx.com
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NEW YORK, March 31, 2022 /PRNewswire/ --
If you own shares in any of the companies listed above and
would like to discuss our investigations or have any questions concerning
this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Alleghany Corporation (NYSE: Y)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Alleghany Corporation (NYSE: Y) in connection with the proposed acquisition of Y by Berkshire Hathaway. Under the terms of the merger agreement, Y shareholders will receive $848.02 in cash for each share of Y common stock owned. If you own Y shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/y
Anaplan, Inc. (NYSE: PLAN)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Anaplan, Inc. (NYSE: PLAN), in connection with the proposed acquisition of PLAN by Thoma Bravo. Under the terms of the merger agreement, PLAN shareholders will receive $66.00 in cash for each share of PLAN common stock owned. If you own PLAN shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/plan
Citrix Systems, Inc (NASDAQ: CTXS)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Citrix Systems, Inc (NASDAQ: CTXS), in connection with the proposed acquisition of CTXS by affiliates of Vista Equity Partners and Evergreen Coast Capital Corporation. Under the terms of the agreement, CTXS shareholders will receive $104.00 in cash for each share of CTXS common stock that they hold. If you own CTXS shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/ctxs
Peak Bancorp, Inc. (OTC: IDFB)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Peak Bancorp, Inc. (OTC: IDFB), in connection with the proposed acquisition of IDFB by BAWAG Group. Under the terms of the acquisition agreement, IDFB's shareholders will receive $12.05 in cash for each share of IDFB common stock that they hold. If you own IDFB shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/idfb
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https://www.wibw.com/prnewswire/2022/03/31/tecnos-ar-campaign-with-man-city-announceyourself-shortlisted-best-brand-activation-involving-football-fba-2022/
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NEW YORK, March 31, 2022 /PRNewswire/ -- The Football Business Awards (FBA), considered the industry's foremost and prestigious accolade, has shortlisted TECNO's #AnnounceYourself Augmented Reality (AR) Campaign for the 2022 Best Brand Activation Involving Football. Blending the most advanced AR immersive technology, a storied club and the aspirations of football fans all over the world, the #AnnounceYourself campaign was a runaway success, catching the eyes of many football executives and professionals all around the world.
Into its 10th year, the FBA celebrates the vital role that clubs and businesses play shaping the football industry, and enabling every game to be a success, both on and off the pitch. It recognizes outstanding successes such as excellence in football media, marketing efficiency, as well as business and technology innovation. With an illustrious judging panel selected for their particular experience and expertise, the FBA has grown into a significant annual networking event in the industry.
In the capacity of being Manchester City's Global Official Handset Partner, TECNO created a metaverse-like experience for fans to interact with the club set in Man City. This AR experience saw fans journeying through the club, in a simulated reality akin to a football metaverse. From visiting the Etihad Stadium and Man City Football Academy training campus, to signing a new contract, selecting their squad number, and mingling with first-team players, the AR campaign accorded football fans a ticket to live out their dreams supporting their favorite club.
Users could also take part in the 3D penalty shootout games before showing off their skills and scores on social media. The AR experience campaign culminated in a grand lucky draw where lucky contestants won rare VIP matchday tickets and travel to a Manchester City home fixture during the season.
This campaign received recognition from the judging panel behind the FBA because it reflects a turning point in how technology can be integrated into our passions and to utilize platforms such as AR to unite fans and allow them to share common experiences, such as playing football or supporting a club.
With this AR campaign, TECNO has not only demonstrated the far-reaching effects of utilizing sports marketing but also worked to cement the brand's presence on the global stage. This reflects TECNO's mission as a technology company to bring to consumers, an innovative brand experience through cutting-edge technology and marketing.
The FBAs were designed to celebrate excellence and acknowledge success in the business of football. The Awards recognize the essential role that business plays in football, the positive impact of football on the community and the vital role played by the businesses which serve the game. This is the event at which all the achievements off the pitch are celebrated at the end of each year. With an illustrious judging panel selected for their particular experience and expertise, the FBA has grown into a significant annual networking event in the industry.
With "Stop At Nothing" as its brand essence, TECNO is committed to unlocking the best contemporary technologies for progressive individuals across global emerging markets, giving them elegantly designed intelligent products that inspire consumers to uncover a world of possibilities. This recognition by the FBA marks an important milestone for TECNO, and the global smartphone manufacturer looks forward to bringing forth even more innovations in the coming years.
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https://www.wibw.com/prnewswire/2022/03/31/tieks-launches-virtual-tieksforukraine-auction-raise-funds-ukrainian-refugees/
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Los Angeles-based shoe company hosts virtual auction of limited edition and one-of-a-kind ballet flats to raise awareness with 100% of proceeds supporting Ukrainian people
LOS ANGELES, March 31, 2022 /PRNewswire/ -- Today, Los Angeles-based shoemaker Tieks announced the launch of #TieksForUkraine, a virtual auction and raffle featuring their famed ballet flats, running from March 31 to April 3. In solidarity with the people of Ukraine, 100% of the auction and raffle proceeds will be donated to World Central Kitchen's #ChefsforUkraine initiative, an on the ground organization providing millions of meals 24/7 to families across all eight border crossings including Ukraine, Poland, Romania, Moldova, and Hungary.
For the first time ever, prized past limited editions, beloved bygone styles, and exclusive pairs that have never been sold publicly, including a brand-new, one-of-a-kind style, will be available for bid and raffle throughout the four-day auction. The auction is open to all U.S. residents and available through the Tieks.com website.
Within the first two hours of the auction, thousands of bids have been placed, with styles fetching bids as high as $4,500 (Toscani) and $3,500 (Arabian Night).
Historically, limited-edition Tieks are released on rare occasions like Black Friday and routinely sell out in 24-72 hours, making these releases some of the most coveted designs by the brand. These limited-edition styles have become among the most highly anticipated shoe releases year-round, with fans preparing to do almost anything to get their hands on a pair. Limited release pairs usually retail for significantly more in the secondary markets after they are no longer available from Tieks. However, from March 31-April 3, fans will have a chance to get their hands on a pair while also supporting an incredible cause.
#TieksForUkraine will feature eight total pairs, with seven up for auction and a one-of-a-kind pair for raffle including one limited edition style each of Red Diamond (2017 release), True Love Red (2021 release), Giraffe (2012 release), Toscani, Arabian Night, and Brown and Black Ostrich—two styles that have never been available for sale publicly. All auction styles will start at $100 and be awarded to the highest bidder. Additionally, Mirage, a one-of-a-kind pair in a sparkly sand hue will be available to win via a raffle. Raffle tickets for this style are $1 each with an unlimited purchase amount. As an added bonus, Tieks will also give away $100 Tieks Gift Cards to 10 additional raffle winners.
"I'm humbled that my company and our community are able to support the people of Ukraine through the #TieksForUkraine initiative," Gavrieli said. "In solidarity with the people of Ukraine, who have lost so much and shown immense courage and strength, our community wants to be involved in contributing to the Ukrainian people in a meaningful way." Gavrieli added, "My hope is that through the auction proceeds, World Central Kitchen will be able to provide tens of thousands of meals for Ukrainians braving this unimaginable war."
To learn more and enter, visit here.
About Tieks:
Stylish, comfortable, durable, and foldable, Tieks are the most versatile flats in the world. Tieks is committed to women's empowerment and, through the Gavrieli Foundation, has become the largest individual lender in the world on Kiva, sending over $10,000,000 to women entrepreneurs living in poverty around the world.
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https://www.wibw.com/prnewswire/2022/03/31/ultra-pro-acquires-legion-supplies-brand-tabletop-gaming-accessories/
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LOS ANGELES, March 31, 2022 /PRNewswire/ -- Ultra PRO International LLC ("Ultra PRO"), a California-based manufacturer of toys, board games, and accessories, has acquired Legion Supplies, Inc. ("Legion Supplies"), an innovator in the tabletop gaming space since its debut in 2009. Steve Port, Owner of Legion Supplies, states, "What prompted the launch 12 years ago was when, as a hobby store owner, I saw my customer's desire for art-based sleeves that represented them beyond the basic fantasy art that existed. From our first 'Bacon' art sleeves, we've tried to bring fun images to quality products that help players express their individuality." Legion Supplies began with trading card game accessories and in 2017 launched MTGproshop.com, which expanded their offerings into the lifestyle category giving fans of Magic: The Gathering a broad selection of apparel and decor based items.
Founded in 1952 and currently celebrating its 70th anniversary, Ultra PRO is a leader in the gaming industry. The acquisition of Legion Supplies reinforces Ultra PRO's strong ability to continue to bring high quality products to the collectibles and trading card games marketplace.
Steve further states, "I'm excited for the expanded capabilities Legion will have working with Ultra PRO's large chain of suppliers and expertise in areas that can only make Legion products better."
Jay Kuo, Ultra PRO's President says, "Legion Supplies is well known in the trading card game community and has developed a great niche business with a loyal following. We're excited to welcome Steve Port to the Ultra PRO management team, as well as the entirety of the Legion team to the Ultra PRO family and look forward to Steve's continued development of Legion Supplies' catalog and service offerings."
Ultra PRO has a strong history of USA-based manufacturing and this acquisition further expands those capabilities as Legion Supplies offers a wide range of product types produced in their Minnesota-based facilities.
Ultra PRO looks forward to growing the business and bringing innovative gaming products to market for years to come. The new partnership will allow Ultra PRO to further expand distribution of the product assortment, create cross-selling opportunities and bring forth complementary line expansions that will be sought out by the gaming audience for years to come.
Legion Supplies, Inc products can be found at https://www.legionsupplies.com/ and https://mtgproshop.com/.
Ultra PRO products can be found at https://shop.ultrapro.com/
About Ultra PRO
Ultra PRO is the leading manufacturer and supplier of sports and gaming collectibles accessories, board games, photo and scrapbooking albums, school and office supplies, and TableTopics conversation starter card sets. The company has been designing and manufacturing top-quality products since 1952. Ultra PRO brands are recognized for their high-quality standards and design innovations. The company's products are sold through a top-tier network of distributors and customers worldwide. They can be purchased in hobby shops, independent toy and gift stores, retail chains and online stores across the globe. Ultra PRO is a privately-held, family-owned company with head offices near Los Angeles, California. For more information, please visit www.UltraPRO.com.
About Legion Supplies, Inc.
Legion Supplies, Inc was founded by Steve Port, serial entrepreneur, and co-founder of Melee.gg, an event management software company. Located in Burnsville, MN, Legion Supplies has been a leader in the tabletop gaming space since 2009. Legion is known for fun and trendy designs as well as innovative product development. Since the beginning, Legion has continued to expand offering new categories of gaming lifestyle products as well as publishing and distribution.
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https://www.wibw.com/prnewswire/2022/03/31/veris-residential-announces-executive-appointments/
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Jeff Turkanis Named Chief Investment Officer
Taryn Fielder Named General Counsel
JERSEY CITY, N.J., March 31, 2022 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE), a forward-thinking, environmentally- and socially-conscious REIT that primarily owns, operates, acquires, and develops Class A multifamily properties, today announced two executive appointments designed to further support the company's transition into a pure-play multifamily REIT and drive long-term shareholder value.
Jeff Turkanis, former Head of U.S. Residential at Oxford Properties Group, has been appointed Chief Investment Officer, succeeding Ricardo Cardoso, effective April 4, and Taryn Fielder, former General Counsel at WashREIT, has been appointed General Counsel, succeeding Gary Wagner, effective April 18. Messrs. Cardoso and Wagner will be leaving the company to pursue other opportunities following a transition period.
Mahbod Nia, Chief Executive Officer of Veris Residential, said, "We are pleased to welcome Jeff and Taryn to Veris Residential as we continue to strengthen our team with top professionals who have significant experience working across private and publicly traded residential real estate. Jeff's intricate knowledge of the residential sector and impressive track record of sourcing and executing strategic investments, coupled with Taryn's breadth of experience that includes providing strategic advice for a variety of complex real estate transactions, will be invaluable as we continue our transition to a pure-play multifamily REIT.
"Importantly, I would like to thank Ricardo and Gary for their decades of dedicated service to Veris Residential and wish them all the best as they explore the next chapter of their careers."
Mr. Turkanis' extensive real estate investment experience includes over $15 billion in transactions concluded primarily across the office and residential sectors. He has been focused specifically on the residential sector (predominantly multifamily) for the past 8 years, closing over $4 billion in transactions during this time. As Chief Investment Officer, he will be responsible for overseeing the sale of non-strategic assets, identifying potential value enhancement opportunities within Veris Residential's existing portfolio, and sourcing potential new investment opportunities. Prior to his more than decade-long tenure at Oxford Properties Group, Mr. Turkanis held roles at Putnam Investments and Fortress Investment Group. He earned a BBA from Washington University in St. Louis and an MBA, Real Estate from Columbia Business School.
Ms. Fielder has significant experience providing legal counsel for capital market transactions, as well as securities, corporate governance, and regulatory compliance matters. Prior to WashREIT, she served as Senior Vice President and General Counsel for ASB Real Estate Investments and was Assistant General Counsel for publicly-traded REIT DiamondRock Hospitality Company. Earlier in her career, she worked in the Real Estate Group at Hogan Lovells, and practiced corporate and real estate law with Simpson, Thacher and Bartlett LLP. Ms. Fielder earned a BA summa cum laude from Eckerd College and her JD from Harvard Law School.
In connection with the hiring of Ms. Fielder and Mr. Turkanis, and also in connection with the previous hiring of Ms. Amanda Lombard as Chief Accounting Officer, who will assume the role of Chief Financial Officer on April 1, 2022, Veris Residential is also announcing, as required by New York Stock Exchange Listed Company Manual Rule 303A.08, equity awards to be made to those three executives as a material inducement to their entering into employment with the company. All of the awards were approved by the Compensation Committee of the Veris Residential Board of Directors and will be made effective April 18, 2022, or such later date as the Chair of the Compensation Committee may determine. The awards to Ms. Lombard and Ms. Fielder are each in the form of restricted stock units; Mr. Turkanis will receive a restricted stock unit award and a stock option award.
The restricted stock unit award to Ms. Lombard will have a grant date fair value of $150,000 and will generally vest ratably on each of the first three anniversaries of the date of grant. The restricted stock unit award to Ms. Fielder will have a grant date fair value of $400,000 and will generally vest 60% on December 31, 2022, 20% on December 31, 2023 and 20% on the third anniversary of the date of grant. The restricted stock unit award to Mr. Turkanis will have a grant date fair value of $425,000 and will generally vest 50% on the first anniversary of the date of grant and 25% on each of the next two anniversaries of the grant date. The option grant to Mr. Turkanis will cover 250,000 shares, have an exercise price equal to the closing price of the underlying stock on the date of grant, generally vest and become exercisable ratably on each of the first three anniversaries of the date of grant, and have a maximum six-year term. All of the awards are subject to accelerated vesting in certain circumstances. The awards will all be made outside of Veris Residential's existing 2013 Incentive Stock Plan but will be subject to terms and conditions generally consistent with those in that plan, other than with respect to such terms and conditions intended to comply with the NYSE inducement award exception.
About Veris Residential, Inc.
Veris Residential, Inc. is a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit http://www.verisresidential.com/.
For Veris Residential:
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
212-257-4170
veris-residential@gasthalter.com
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https://www.wibw.com/prnewswire/2022/04/01/51job-inc-reports-fourth-quarter-fiscal-year-2021-financial-results/
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SHANGHAI, March 31, 2022 /PRNewswire/ -- 51job, Inc. (Nasdaq: JOBS) ("51job" or the "Company"), a leading provider of integrated human resource services in China, announced today its unaudited financial results for the fourth quarter and fiscal year of 2021 ended December 31, 2021.
Fourth Quarter 2021 Financial Highlights:
- Net revenues increased 15.7% over Q4 2020 to RMB1,345.2 million (US$211.1 million)
- Online recruitment services revenues increased 12.0%
- Other human resource related revenues increased 19.0%
- Income from operations was RMB304.6 million (US$47.8 million)
- Fully diluted earnings per share was RMB5.23 (US$0.82)
- Non-GAAP adjusted fully diluted earnings per share[1] was RMB5.99 (US$0.94)
Fiscal Year 2021 Financial Highlights:
- Net revenues increased 19.8% from 2020 to RMB4,420.4 million (US$693.7 million)
- Online recruitment services revenues increased 11.6%
- Other human resource related revenues increased 31.3%
- Income from operations was RMB551.3 million (US$86.5 million)
- Fully diluted earnings per share was RMB9.40 (US$1.47)
- Non-GAAP adjusted fully diluted earnings per share was RMB13.12 (US$2.06)
Fourth Quarter 2021 Unaudited Financial Results
Net revenues for the fourth quarter ended December 31, 2021 were RMB1,345.2 million (US$211.1 million), an increase of 15.7% from RMB1,163.1 million for the same quarter in 2020.
Online recruitment services revenues for the fourth quarter of 2021 increased 12.0% to RMB617.7 million (US$96.9 million) compared with RMB551.6 million for the same quarter in 2020, primarily due to an improvement in hiring sentiment, demand and activity from employers in 2021.
Other human resource related revenues for the fourth quarter of 2021 increased 19.0% to RMB727.5 million (US$114.2 million) from RMB611.5 million for the same quarter in 2020. The growth was primarily driven by robust employer demand for seasonal campus recruitment, business process outsourcing and training services in 2021.
Cost of services for the fourth quarter of 2021 increased 29.1% to RMB535.2 million (US$84.0 million) from RMB414.5 million for the same quarter in 2020, primarily due to higher employee compensation expenses, headcount additions and greater direct costs, such as venue rental, media production and technology support, incurred in providing campus recruitment services to employers. Gross profit for the fourth quarter of 2021 increased 8.2% to RMB810.0 million (US$127.1 million) from RMB748.6 million for the same quarter in 2020. Gross margin, which is gross profit as a percentage of net revenues, was 60.2% in the fourth quarter of 2021 compared with 64.4% for the same quarter in 2020.
Operating expenses for the fourth quarter of 2021 increased 28.9% to RMB505.4 million (US$79.3 million) from RMB392.0 million for the same quarter in 2020. Sales and marketing expenses for the fourth quarter of 2021 increased 34.3% to RMB403.6 million (US$63.3 million) from RMB300.6 million for the same quarter in 2020, primarily due to higher employee compensation expenses, staff additions and greater spending on advertising and brand awareness campaigns. Advertising and promotion expenses increased 27.7% to RMB90.0 million (US$14.1 million) for the fourth quarter of 2021 from RMB70.5 million for the same quarter in 2020.
General and administrative expenses for the fourth quarter of 2021 increased 11.3% to RMB101.8 million (US$16.0 million) from RMB91.4 million for the same quarter in 2020, primarily due to higher employee compensation expenses
Income from operations for the fourth quarter of 2021 was RMB304.6 million (US$47.8 million) compared with RMB356.6 million for the fourth quarter of 2020. Operating margin, which is income from operations as a percentage of net revenues, was 22.6% for the fourth quarter of 2021 compared with 30.7% for the same quarter in 2020. Excluding share-based compensation expense, operating margin would have been 24.9% for the fourth quarter of 2021 compared with 33.7% for the same quarter in 2020.
The Company recognized a loss from foreign currency translation of RMB10.9 million (US$1.7 million) in the fourth quarter of 2021 compared with RMB33.9 million in the fourth quarter of 2020, primarily due to the impact of the change in exchange rate between the Renminbi and the U.S. dollar on the Company's U.S. dollar cash deposits.
The Company recognized a mark-to-market, non-cash loss of RMB10.7 million (US$1.7 million) in the fourth quarter of 2021 compared with RMB9.4 million in the fourth quarter of 2020 associated with a change in fair value of listed equity securities investment in Huali University Group Limited, which is traded on the Hong Kong Stock Exchange. The Company also recognized RMB3.4 million (US$0.5 million) in professional services fees and administrative expenses related to the proposed going-private transaction in the fourth quarter of 2021.
Other income in the fourth quarter of 2021 included local government financial subsidies of RMB98.6 million (US$15.5 million) compared with RMB14.9 million in the fourth quarter of 2020.
Net income attributable to 51job for the fourth quarter of 2021 was RMB355.2 million (US$55.7 million) compared with RMB342.0 million for the same quarter in 2020. Fully diluted earnings per share for the fourth quarter of 2021 was RMB5.23 (US$0.82) compared with RMB5.01 for the same quarter in 2020.
In the fourth quarter of 2021, total share-based compensation expense was RMB29.9 million (US$4.7 million) compared with RMB35.0 million in the fourth quarter of 2020.
Excluding share-based compensation expense, loss from foreign currency translation and change in fair value of listed equity securities investment, as well as the related tax effect of these items, non-GAAP adjusted net income attributable to 51job for the fourth quarter of 2021 was RMB406.7 million (US$63.8 million) compared with RMB420.1 million for the fourth quarter of 2020. Non-GAAP adjusted fully diluted earnings per share was RMB5.99 (US$0.94) in the fourth quarter of 2021 compared with RMB6.16 in the fourth quarter of 2020.
Fiscal Year 2021 Unaudited Financial Results
Net revenues in 2021 were RMB4,420.4 million (US$693.7 million), an increase of 19.8% from RMB3,689.0 million in 2020
Online recruitment services revenues in 2021 increased 11.6% to RMB2,396.2 million (US$376.0 million) from RMB2,147.3 million in 2020. The increase was primarily due to the improvement in business activity and more recruitment needs of employers in China in 2021.
Other human resource related revenues in 2021 increased 31.3% to RMB2,024.2 million (US$317.6 million) from RMB1,541.6 million in 2020, primarily due to resilient customer demand and usage of the Company's training, campus recruitment, placement and business process outsourcing services.
Cost of services in 2021 increased 32.9% to RMB1,676.7 million (US$263.1 million) from RMB1,261.7 million in 2020, primarily due to higher employee compensation expenses and headcount additions. Gross profit in 2021 increased 13.0% to RMB2,743.7 million (US$430.5 million) from RMB2,427.2 million in 2020. Gross margin was 62.1% in 2021 compared with 65.8% in 2020.
Income from operations in 2021 decreased 36.4% to RMB551.3 million (US$86.5 million) from RMB867.1 million in 2020, primarily due to the significant increase in sales and marketing expenses in 2021. Operating margin was 12.5% in 2021 compared with 23.5% in 2020. Excluding share-based compensation expense, operating margin would have been 15.9% in 2021 compared with 27.4% in 2020.
Net income attributable to 51job in 2021 was RMB640.7 million (US$100.5 million) compared with RMB1,097.3 million in 2020. Fully diluted earnings per share in 2021 was RMB9.40 (US$1.47) compared with RMB16.12 in 2020.
Excluding share-based compensation expense, loss from foreign currency translation, and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect of these items, non-GAAP adjusted net income attributable to 51job in 2021 was RMB894.4 million (US$140.4 million) compared with RMB1,243.9 million in 2020. Non-GAAP adjusted fully diluted earnings per share was RMB13.12 (US$2.06) in 2021 compared with RMB18.28 in 2020.
As of December 31, 2021, cash and short-term investments totaled RMB10,587.0 million (US$1,661.3 million) compared with RMB10,761.9 million as of December 31, 2020.
Currency Convenience Translation
For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollar amounts at the rate of RMB6.3726 to US$1.00, the noon buying rate on December 30, 2021 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.
Use of Non-GAAP Financial Measures
To supplement the consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), 51job uses non-GAAP financial measures of income before income tax expense, income tax expense, adjusted net income, adjusted net income attributable to 51job and adjusted earnings per share, which are adjusted from results based on GAAP to exclude share-based compensation expense, loss from foreign currency translation and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect of these items. The Company believes excluding share-based compensation expense and its related tax effect from its non-GAAP financial measures is useful for its management and investors to assess and analyze the Company's core operating results as such expense is not directly attributable to the underlying performance of the Company's business operations and do not impact its cash earnings. The Company believes excluding loss from foreign currency translation and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect, from its non-GAAP financial measures is useful for its management and investors as such translation, mark-to-market gain or loss is not indicative of the Company's core business operations and will not result in cash settlement nor impact the Company's cash earnings. 51job also believes these non-GAAP financial measures excluding share-based compensation expense, loss from foreign currency translation and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect of these items, are important in helping investors to understand the Company's current financial performance and future prospects and to compare business trends among different reporting periods on a consistent basis. The presentation of these additional measures should not be considered a substitute for or superior to GAAP results or as being comparable to results reported or forecasted by other companies. The non-GAAP measures have been reconciled to GAAP measures in the attached financial statements.
About 51job
Founded in 1998, 51job is a leading provider of integrated human resource services in China. With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development. The Company's main online recruitment platforms (http://www.51job.com, http://www.yingjiesheng.com, http://www.51jingying.com, http://www.lagou.com, and http://www.51mdd.com), as well as mobile applications, connect millions of people with employment opportunities every day. 51job also provides a number of other value-added HR services, including business process outsourcing, training, professional assessment, campus recruitment, executive search and compensation analysis. 51job has a call center in Wuhan and a nationwide network of sales and service locations spanning more than 30 cities across China.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "targets," "confident" and similar statements. Among other things, statements that are not historical facts, including statements about 51job's beliefs and expectations, as well as 51job's strategic and operational plans, are or contain forward-looking statements. 51job may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. All forward-looking statements are based upon management's expectations at the time of the statements and involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: execution of 51job's strategies and business plans; growth and trends of the human resource services industry in China; market acceptance of 51job's products and services; competition in the industry; 51job's ability to control costs and expenses; 51job's ability to retain key personnel and attract new talent; relevant government policies and regulations relating to 51job's industry, corporate structure and business operations; seasonality in the business; fluctuations in the value of the Renminbi against the U.S. dollar and other currencies; risks related to acquisitions or investments 51job has made or will make in the future; accounting adjustments that may occur during the quarterly or annual close or auditing process; and fluctuations in general economic and business conditions in China and globally, including the impact of the coronavirus or other pandemic. Further information regarding these and other risks are included in 51job's filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release and based on assumptions that 51job believes to be reasonable as of this date, and 51job undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Contact
Investor Relations, 51job, Inc.
Tel: +86-21-6879-6250
Email: ir@51job.com
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https://www.wibw.com/prnewswire/2022/04/01/broadcom-inc-announces-pricing-private-offering-senior-notes/
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SAN JOSE, Calif., March 31, 2022 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO) ("Broadcom") announced today that it has priced its previously announced offering (the "Offering") of $750,000,000 of 4.00% Senior Notes due 2029 and $1,200,000,000 of 4.15% Senior Notes due 2032 (together, the "New Notes"). The New Notes will be unsecured obligations of the Company and will rank pari passu with all other unsecured and unsubordinated indebtedness of the Company. The Offering is expected to settle on April 14, 2022, subject to customary closing conditions.
Broadcom intends to use the net proceeds from the sale of the New Notes to redeem in full its 4.700% Senior Notes due 2025 and 4.250% Senior Notes due 2026 (collectively, the "Redemption Notes"), including accrued and unpaid interest thereon, and to pay fees and expenses in connection therewith.
The New Notes are being sold in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States under Regulation S under the Securities Act. The New Notes have not been registered under the Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.
This press release is neither an offer to sell nor a solicitation of an offer to buy the New Notes, nor shall there be any sale of the New Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Nothing in this press release should be construed as an offer to purchase, notice of redemption or a solicitation of an offer to purchase any of the Redemption Notes. The redemption of the Redemption Notes is conditioned on the completion by the Company of one or more debt financing transactions and the receipt of the net proceeds therefrom in an amount, together with cash on hand, sufficient to pay the redemption price for the Redemption Notes.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, the offering and use of proceeds, and other statements identified by words such as "will," "expect," "believe," "anticipate," "estimate," "should," "intend," "plan," "potential," "predict," "project," "aim," and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of the management of Broadcom, as well as assumptions made by, and information currently available to, such management, current market trends and market conditions and involve risks and uncertainties, many of which are outside the Company's and management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements.
Particular uncertainties that could materially affect future results include risks associated with: the COVID-19 pandemic, which has disrupted, and will likely continue to disrupt, normal business activity, and which may have an adverse effect on our results of operations; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; government regulations and administrative proceedings, trade restrictions and trade tensions; global economic conditions and concerns; cyclicality in the semiconductor industry or in our target markets; global political and economic conditions; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; the amount and frequency of our share repurchase program; dependence on and risks associated with distributors and resellers of our products; dependence on senior management and our ability to attract and retain qualified personnel; any acquisitions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; involvement in legal proceedings; quarterly and annual fluctuations in operating results; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; our competitive performance and ability to continue achieving design wins with our customers, as well as the timing of any design wins; prolonged disruptions of our or our contract manufacturers' manufacturing facilities, warehouses or other significant operations; our ability to improve our manufacturing efficiency and quality; our dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third party software used in our products; use of open source code sources in our products; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims; market acceptance of the end products into which our products are designed; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; our ability to protect against a breach of security systems; fluctuations in foreign exchange rates; our provision for income taxes and overall cash tax costs, legislation that may impact our overall cash tax costs and our ability to maintain tax concessions in certain jurisdictions; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. Many of the foregoing risks and uncertainties are, and will be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result.
Our filings with the Securities and Exchange Commission ("SEC"), which you may obtain for free at the SEC's website at http://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Broadcom Inc.
Ji Yoo
Investor Relations
408-433-8000
investor.relations@broadcom.com
AVGO-Q
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SAN JOSE, Calif., March 31, 2022 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO) ("Broadcom" or the "Company") announced today the commencement of offers to all eligible holders (together, the "Exchange Offers") of the Company's or its subsidiaries' Existing Notes listed in the table below to exchange Existing Notes for consideration consisting of a combination of up to $2,500,000,000 aggregate principal amount of the Company's new notes due 2037 (the "New Notes") and a cash payment, the complete terms and conditions of which are set forth in an offering memorandum, dated today (the "Offering Memorandum"). Capitalized terms not defined herein shall have the meanings ascribed to them in the Offering Memorandum.
Set forth below is a table summarizing certain material terms of the New Notes to be issued in the Exchange Offers:
The aggregate principal amount of New Notes to be issued pursuant to the Exchange Offers will be subject to a maximum amount of $2,500,000,000 aggregate principal amount.
The following is a summary of certain key terms of the Exchange Offers:
- The Exchange Offers will expire at 12:00 midnight, New York City time, at the end of April 27, 2022, unless extended by the Company (the "Expiration Date").
- Eligible Holders who validly tender and do not validly withdraw their Existing Notes at or prior to the Early Participation Date will receive: (a) New Notes in a principal amount equal to (i) the Total Consideration (as defined below) applicable to such Existing Notes minus (ii) the Cash Component (as defined below), and (b) a cash payment equal to the Cash Component, for each $1,000 principal amount of such Existing Notes tendered and accepted for exchange by the Company.
- Eligible Holders who validly tender and do not validly withdraw their Existing Notes after the Early Participation Date will receive: (a) New Notes in a principal amount equal to (i) the Exchange Consideration (as defined below) applicable to such Existing Notes minus (ii) the Cash Component, and (b) a cash payment equal to the Cash Component, for each $1,000 principal amount of such Existing Notes tendered and accepted for exchange by the Company.
- "Total Consideration" means, as calculated in accordance with the formula set forth in Annex A to the Offering Memorandum, the discounted value of the remaining payments of principal and interest through the maturity date or par call date, as applicable, of the applicable series of Existing Notes (excluding accrued and unpaid interest to, but not including, the applicable Settlement Date), using a yield equal to the sum of (a) the bid-side yield on the applicable Reference UST Security (as set forth in the tables above with respect to such series of Existing Notes) as calculated by the Dealer Managers (as defined below) in accordance with standard market practice, as of 11:00 a.m. New York City time on April 14, 2022 (such date and time, the "Pricing Time"), as displayed on the Bloomberg Government Pricing Monitor Pages listed in the tables set forth on the cover page of the Offering Memorandum with respect to such series of Existing Notes (or any recognized quotation source selected by the Dealer Managers in their sole discretion if such page is not available or is manifestly erroneous) and (b) the Fixed Spread as set forth in the tables above with respect to such series of Existing Notes. For the avoidance of doubt, the Total Consideration includes the Early Participant Payment, as defined below.
- "Exchange Consideration" means the Total Consideration minus the Early Participant Payment.
- "Cash Component" means the portion of the Total Consideration, or the Exchange Consideration, as applicable, to be paid to holders in cash and is equal to the applicable Total Consideration for the relevant series of Existing Notes minus $1,000. For the avoidance of doubt, the Cash Component payable with respect to each series of Existing Notes validly tendered at or prior to the Early Participation Date, and accepted by us for exchange, will be equivalent to the Cash Component payable with respect to such series of Existing Notes validly tendered after the Early Participation Date and at or prior to the Expiration Date, and accepted by us for exchange.
- "Early Participant Payment" means $50 (payable in applicable New Notes) for each $1,000 principal amount of each series of Existing Notes tendered and not validly withdrawn at or prior to the Early Participation Date.
- The Company will pay interest on the New Notes at a rate per annum equal to (a) the yield, calculated in accordance with standard market practice, that corresponds to the bid-side price of the 1.875% United States Treasury due February 15, 2032 as of the Pricing Time as displayed on the Bloomberg Government Pricing Monitor page FIT1 (or any recognized quotation source selected by us in our sole discretion if such quotation report is not available or is manifestly erroneous), plus (b) a fixed spread of 215 basis points.
- Assuming the Company elects to have an early settlement, settlement for Existing Notes tendered at or prior to the Early Participation Date and accepted by the Company is expected to be April 18, 2022, unless extended by the Company (the "Early Settlement Date"). Settlement for Existing Notes tendered and accepted after the Early Participation Date is expected to be April 29, 2022, unless extended by the Company (the "Final Settlement Date").
- Eligible holders who validly tender and who do not validly withdraw their Existing Notes at or prior to 5:00 p.m., New York City time, on April 13, 2022, unless extended by the Company (the "Early Participation Date"), and whose tenders are accepted for exchange by the Company, will receive the Total Consideration for each $1,000 principal amount of Existing Notes.
- All Eligible Holders whose Existing Notes are accepted in an Exchange Offer will receive a cash payment equal to accrued and unpaid interest on such Existing Notes to, but not including, the applicable Settlement Date in addition to their Total Consideration.
- Tenders of Existing Notes in the Exchange Offers may be validly withdrawn at any time at or prior to 5:00 p.m., New York City time, on April 13, 2022, unless extended by the Company (the "Withdrawal Deadline"), but will thereafter be irrevocable, except in certain limited circumstances where additional withdrawal rights are required by law.
- Consummation of the Exchange Offers is subject to a number of conditions, including, among other things, the issuance of at least $500,000,000 aggregate principal amount of New Notes and the Company's determination that New Notes issued on the Final Settlement Date, if any, will be treated as part of the same issue as the New Notes, if any, issued on the Early Settlement Date for U.S. federal income tax purposes.
- The Company will not receive any cash proceeds from the Exchange Offers.
If and when issued, the New Notes will not have been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws. The New Notes may not be offered or sold in the United States or to any U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Company will enter into a registration rights agreement with respect to the New Notes. The New Notes will be unsecured obligations of the Company and will rank pari passu with all other unsecured and unsubordinated indebtedness of the Company.
The Exchange Offers are only made, and copies of the documents relating to the Exchange Offers will only be made available, to a holder of Existing Notes who has certified in an eligibility certification certain matters to the Company, including its status as a "qualified institutional buyer" as defined in Rule 144A under the Securities Act, a person other than a "U.S. person" as defined in Rule 902 under the Securities Act or a Canadian "accredited investor" and "permitted client" as defined in National Instrument 45-106—Prospectus Exemptions, Section 73.1(1) of the Securities Act (Ontario) and National Instrument 31-103—Registration Requirements, Exemptions and Ongoing Registrant Obligations. Holders of Existing Notes who desire access to the electronic eligibility form should contact D.F. King & Co., Inc., the information agent (the "Information Agent") for the Exchange Offers, at (866) 416-0577 (U.S. Toll-free) or (212) 269-5550 (Collect). Holders that wish to receive the Offering Documents can certify eligibility on the eligibility website at: http://www.dfking.com/broadcom. In connection with the Exchange Offers, Barclays Capital Inc., BBVA Securities Inc., BNP Paribas Securities Corp., and J.P. Morgan Securities LLC are acting as dealer managers (collectively, the "Dealer Managers").
This news release does not constitute an offer or an invitation by the Company to participate in the Exchange Offers in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction. None of Broadcom, the Information Agent or the Dealer Managers makes any recommendation as to whether any eligible holders should participate in the applicable Exchange Offer, and no one has been authorized by any of them to make such a recommendation. Eligible holders must make their own decisions as to whether to exchange their Existing Notes, and if so, the principal amount of such Existing Notes to be exchanged.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, the anticipated offerings and use of proceeds, and other statements identified by words such as "will," "expect," "believe," "anticipate," "estimate," "should," "intend," "plan," "potential," "predict," "project," "aim," and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of the management of Broadcom, as well as assumptions made by, and information currently available to, such management, current market trends and market conditions and involve risks and uncertainties, many of which are outside the Company's and management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements.
Particular uncertainties that could materially affect future results include risks associated with: the COVID-19 pandemic, which has disrupted, and will likely continue to disrupt, normal business activity, and which may have an adverse effect on our results of operations; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; government regulations and administrative proceedings, trade restrictions and trade tensions; global economic conditions and concerns; cyclicality in the semiconductor industry or in our target markets; global political and economic conditions; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; the amount and frequency of our share repurchase program; dependence on and risks associated with distributors and resellers of our products; dependence on senior management and our ability to attract and retain qualified personnel; any acquisitions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; involvement in legal proceedings; quarterly and annual fluctuations in operating results; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; our competitive performance and ability to continue achieving design wins with our customers, as well as the timing of any design wins; prolonged disruptions of our or our contract manufacturers' manufacturing facilities, warehouses or other significant operations; our ability to improve our manufacturing efficiency and quality; our dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third party software used in our products; use of open source code sources in our products; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims; market acceptance of the end products into which our products are designed; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; our ability to protect against a breach of security systems; fluctuations in foreign exchange rates; our provision for income taxes and overall cash tax costs, legislation that may impact our overall cash tax costs and our ability to maintain tax concessions in certain jurisdictions; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. Many of the foregoing risks and uncertainties are, and will be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result.
Our filings with the Securities and Exchange Commission ("SEC"), which you may obtain for free at the SEC's website at http://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Broadcom Inc.
Ji Yoo
Investor Relations
408-433-8000
investor.relations@broadcom.com
AVGO-Q
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SOURCE Broadcom Inc.
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https://www.wibw.com/prnewswire/2022/04/01/cogobuy-announces-2021-annual-results/
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Net Profit Achieves High Growth of 120.0% to RMB 412.4 Million
HONG KONG, March 31, 2022 /PRNewswire/ -- Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), a technology services company focusing on serving the global chip industry and artificial intelligence ("AI") and internet of things ("IoT", together "AIoT") ecosystem, is pleased to announce its unaudited consolidated results for the Year ended December 31, 2021 ("2021" or the "Year").
Financial Highlights of the Full Year of 2021
The continued expansion of 5G development and application scenarios has caused demand for chips to surge, significantly increasing and supporting the Group's revenue. The chip business achieved a higher growth during the Year. The Company's net profit and revenue both increased significantly, with net profit growing faster than revenue. As of December 31, 2021, the Group's net profit was approximately RMB 412.4 million, a YoY increase of 120.0%; revenue was approximately RMB 9,452.4 million, a YoY increase of 52.8%; gross profit was approximately RMB 933.4 million, a YoY increase of 33.6%. The increase in gross profit margin was mainly attributable to the change in the Company's sales mix. The services provided by the Group cover areas with higher gross profit margins, including V2X, smart homes, AI surveillance and other markets. During the Year, the Group's profit attributable to equity shareholders of the Company was RMB 296.2 million, a significant YoY increase of 140.4%; the Company's cash and bank balances including short-term bank deposits and pledged deposits was RMB 519.3 million. The Group's bank loans were RMB 405.3 million. Basic common shares outstanding were 1,412,766,732, weighted average number of ordinary shares for the purpose of diluted earnings per share were 1,393,448,000.
Following technology's trend towards the creation of a 5G industry ecosystem and widespread digital transformation, the Group has formed a "Comtech and IngDan" platform to better serve the "Chips-Devices-Cloud" ecosystem along the entire AIoT industry chain, with the goal of supporting long term, sustainable income for the Group. "Comtech" focuses on the application design and distribution of IC chips to AIoT enterprises in China. Meanwhile, "IngDan" focuses on the R&D and sales of proprietary products, as well as customized application design, which include related support services for modules, devices, and cloud, to further develop AIoT module customized solutions. Through the two business platforms, the Group is creating a closed loop of "Chips-Devices-Cloud" ecosystem along the AIoT value chain, and provides services for the five main AIoT verticals: V2X, Smart Home, Robotics, Smart Manufacturing, and Smart Medical, so as to promote the comprehensive and sustainable development of the Group.
Strong Growth Momentum of the Chip Business
5G's large-scale and rapid development is further driving the comprehensive application of chips. In 2021 global chip sales volume was 1.15 trillion pieces, with a YoY increase of 26.2% to US$555.9 billion. The Semiconductor Industry Association (SIA) predicts global chip sales will increase by 8.8% in 2022.[1] Comtech's chip business also benefited directly and grew rapidly, with a significant YoY increase of 93.3% in revenue. "Comtech" maintains connection with over 50% of global high-end chip suppliers and many leading domestic chip companies, allowing it to serve over a hundred global high-end chip suppliers upstream, and ten thousands of AIoT hardware companies downstream, while also providing chip application development solutions and sales services. As 5G continues to empower digital transformation across many industries, the demand for chips will continue to drive rapid growth for the Group's chip business.
Participated in the building of OpenHarmony ecosystem and Launched the First OpenHarmony Product
During the Year, "Comtech" became a platinum-level donor to the OpenAtom Foundation, and committed to creating an independent and controllable OpenHarmony industrial ecosystem and industry standards with technology giants such as Huawei. OpenHarmony promotes information security and the independent and controllable core technology industries in China, and facilitates the standardization of AIoT and technology applications in various industries. OpenHarmony is a core operating system software incubated and operated by the OpenAtom Foundation, which is widely used in various smart devices and will become the mainstream standard for AIoT in the future. The Group actively participated in the building of OpenHarmony ecosystem, and continuously improved the Group's AIoT application technology services, leading to new opportunities for the Group's business.
During the Reporting Period, the Group successfully launched the first Smart BMS battery management system based on a combination of domestic chips and OpenHarmony solutions, which are mainly used in the smart battery products of new energy vehicles, electric motorcycles, and the industrial power system. As a result, the performance and safety of power batteries are now greatly improved and further diversified communication transmission functions and cloud real-time data management have been implemented, to further achieve lower power consumption and better intelligent applications. This first product laid the foundation for the integration of the Group's chips application and OpenHarmony solutions, helping the Group to develop the AIoT industry chain market.
Spin-off and Separate Listing of "Comtech" on A Shares
The Company obtained approval from The Hong Kong Stock Exchange Limited for the spin-off and separate listing of "Comtech" on A shares in Mainland China, which will further expand the Group's development in the domestic capital market. As the domestic chip market gains strong support from national policies, "Comtech" is preparing for the A share listing. After the completion of the Proposed A Share Listing, the Company will remain the ultimate controlling shareholder of "Comtech", and its financial results will still be consolidated into the Company, which will facilitate the sustainable growth of the Group's performance. Moreover, in order to give investors a clearer understanding of the main business of "Comtech" and "Cogobuy Group", the Company plans to change its name from "Cogobuy Group" to "Ingdan Inc.". The proposed name change of the Company has been approved by the Board and will be subject to shareholders' approval at the annual general meeting in June 2022.
Strengthening the Layout of iPaaS Services
The applications of 5G and AI are only becoming more extensive, and the demand for digital innovation and transformation in various industries is rising, which further promotes the accelerated development of "Chips-Devices-Cloud" with AIoT application technologies. The technology integration of iPaaS (Integration Platform as a Service) has become one of the most important parts of digital transformation. The iPaaS platform service automates business processes and makes it easier to share data across applications. According to IndustryARC Report, the global iPaaS market is expected to reach US$6.1 billion in 2025, representing a CAGR of 36.4% from 2020 to 2025.[2] The Group has long recognized the opportunities and provided iPaaS services such as technology integration solutions, marketing solutions and distribution services to core technology suppliers in the "Chips-Devices-Cloud" ecosystem along the AIoT value chain through the two business platforms of "Comtech" and "IngDan". These iPaaS services covers five main AIoT verticals: V2X, Smart Home, Robotics, Smart Manufacturing, and Smart Medical, helping the Group capture the blue ocean market of iPaaS in China.
The Group actively deployed in the five main AIoT verticals and continues to explore opportunities in the iPaaS market. During the Year, the Group worked with different AIoT suppliers to formulate various solutions for chips and technology integration, and successfully built high-end equipment in different fields. These include 4K video endoscopes and ultrasound diagnostic systems for high-end medical equipment in the smart medical field, intelligent security systems for smart city construction, and a WIFI-BT wireless solution that empowers the intelligent transformation of TV, achieving intelligence and high efficiency for various industries. By leveraging its technological expertise in integrating upstream and downstream industrial supply chain resources, the Group has empowered the implementation of more iPaaS projects, and laid a solid foundation to further expand the Group's domestic iPaaS service market, which brings strong growth momentum for the Group.
V2X is one of the most important application scenarios in the implementation of 5G and AIoT, and it has driven a significant increase in demand for automotive semiconductors. According to the report by Omdia, semiconductor chips used in EV are 2.9 times more prevalent than those of traditional internal combustion EVs, and the automotive semiconductor industry will grow at a CAGR of 12.3% by 2025.[3] The Group has captured the huge market opportunity of V2X, and cooperated with various chip manufacturers, module suppliers, and automobile manufacturers. During the Year, the Group, together with the world's leading FPGA suppliers and technology enterprises, jointly created a hardware acceleration engine of LiDAR's 3D cloud data to empower the smart transportation field. With the surging wave of V2X, the Group will further develop and invest in the V2X market to consolidate its competitiveness in the field of V2X, and facilitate the steady development of the Group.
Outlook
Mr. Jeffrey Kang, CEO of Cogobuy Group, said, "2021 was the first year of China's '14th Five-Year Plan', and the national policy strongly supported — and continues to support — the development of technology. The government has introduced a number of favorable policies for the chip and 5G industries, which have led to a continuous increase in demand for chips. The Group also took advantage of favorable policies and market developments to maintain rapid growth in our business during the Year. In order to fully cover the needs of AIoT industry chain, the Group's iPaaS technology integration service has successfully promoted the implementation of multiple intelligent projects and achieved new breakthroughs for our business.
By joining the OpenAtom Foundation, we are committed to embedding OpenHarmony into a wide range of AIoT products with billion dollars market opportunities. In order to further the development of the application technology services field, the Group joined hands with Chinasoft International Ltd to launch a complete 'OpenHarmony +' solutions platform in early 2022, as well as an OpenHarmony collaborative innovation platform to form a comprehensive technical service capability.
The potential of chip development is viewed favorably by the market, which makes the Group's chip business a favorite of financial institutions. 'Comtech', a subsidiary of the Group, has received strong financial support from eight financial institutions. In particular, the Bank of China (Shenzhen) granted a credit facility of RMB300 million in early 2022, which fully affirmed the development potential of the Group's chip business and helped the Group deploy in the trillion-level chip industry market.
Looking forward, the rapid development of 5G and the explosive growth of AIoT applications will drive the continued increase in demand for chips, which will enable the Group's chip business to continue to grow rapidly. The chip business is expected to continue to be the core driver of the Group's growth. The Group will also continue to strive towards high-quality development, capture opportunities arising from the domestic 5G process and policy dividends, and actively explore the growth potential of the chip market. Through continuous improvement of the Group's business and services, and the use of the dual-platform development model, the Group is committed to creating a closed loop of "Chips-Devices-Cloud" ecosystem along the AIoT value chain and covering the entire 5G industry chain, which will promote the rapid growth of our business, as well as bring greater value returns to shareholders."
Caution Statement
The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made by the Company or any of its affiliates, advisers or representatives as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions presented or contained herein. The information contained in this document should be considered in the context of the circumstances prevailing at the time, is subject to change without notice and the Company makes no undertaking to update the information in this document to reflect any developments that occur after the date of the presentation. It is not the Company's intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company, or its financial or trading position or prospects. Neither of the Company nor any of its affiliates, advisers or representatives accept any responsibility or have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document.
This document may contain statements that reflect the Company's current intent, beliefs and expectations about the future as of the respective dates indicated herein. These forward-looking statements not guarantees of future performance and are based on a number of assumptions about the Company's operations and factors beyond the Company's control and are subject to significant risks and uncertainties, and accordingly, actual results may differ materially from those described in these forward-looking statements. Neither the Company nor any of its affiliates, advisers or representatives has any obligation, nor do they undertake, to update these forward-looking statements for any events or developments including the occurrence of unanticipated events that occur subsequent to such dates.
About Cogobuy Group
Cogobuy Group (stock code: 400.HK), a technology services company serving the global chip industry and artificial intelligence and Internet of Things ("AIoT") ecosystem, is headquartered in Shenzhen, with offices and branches across major cities in China, including Hong Kong, Shanghai, Beijing, Wuhan, Chengdu, Nanjing, Hangzhou, and Xi'an, as well as overseas branches in Singapore, Israel, and Japan. The Group is comprised of two companies operating a dual-platform model: Comtech, a technology services platform for the chip industry, and IngDan, a platform providing AIoT technology and services. Together, the two platforms form a closed loop of "Chips-Devices-Cloud" ecosystem along the AIoT value chain. For further information, please visit www.cogobuygroup.com
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https://www.wibw.com/prnewswire/2022/04/01/conscious-clothing-brand-spreads-hope-phoenix/
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PHOENIX, March 28, 2022 /PRNewswire/ -- "Hope is there, you just have to open your eyes to see it." LaRoie S. Davis was raised in a family-oriented neigborhood in South Phoenix that has seen its fair share of challenges over the years. Though hard times and challenges continued, it was through his faith in God that he realized there was a purpose to life. Despite his circumstances, he always had hope. Today, he continues to be fueled by the value of our individual purpose. Through this, and the success he achieved in life, he was inspired to launch the conscious clothing company Small Give Big Hope. The goal of the clothing brand is to spread the message that you, the community, and your faith matters.
The Davis Community Wellness Foundation (DCWF) is hosting a private fundraising event to introduce the new brand. With conscious thought-provoking designs, the Small Give Big Hope merchandise funds DCWF's Mission: to foster hope in communities affected by challenging circumstances, through support, education and awareness.
The invite-only launch event will be held at the Heritage at Sportsman's Park in Glendale on April 9, 2022 at 6:00pm, and features a cocktail hour, dinner, runway show and fireworks.
LaRoie S. Davis, founder of the foundation, says, "This brand has a message for everyone, and the Davis Community Wellness Foundation has a vision to empower communities to find hope and build resilience.
Through collaborative efforts with community leaders and organizations, this Phoenix-bred social enterprise will provide assistance to those looking for a glimmer of hope, freedom, and purpose.
Local media are invited to attend the event and can RSVP their attendance by emailing Cheryl James via the contact information above.
Small Give Big Hope is the fundraising initiative of Davis Community Wellness Foundation, a 501c3 nonprofit organization, empowering communities to find hope and build resilience. We design apparel to raise awareness of, and attention to, a lifestyle of action and opportunities for a better life. We believe in dreaming beyond your current limitations, and then taking the steps to make that a reality. When you make a purchase, you join a movement. Purchase merchandise and learn more at www.SmallGiveBigHope.com.
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SOURCE Davis Community Wellness Foundation
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https://www.wibw.com/prnewswire/2022/04/01/costar-technologies-inc-announces-financial-results-fourth-quarter-year-ended-december-31-2021/
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($ in thousands except per share amounts)
COPPELL, Texas, March 31, 2022 /PRNewswire/ -- Costar Technologies, Inc. (the "Company") (OTC Markets Group: CSTI) announced today its financial results for the fourth quarter and year ended December 31, 2021.
Financial Results for the Quarter Ended December 31, 2021
- Revenues of $14,779, a 13.9% increase compared to the fourth quarter of 2020.
- Operating expenses were up 2.2% to $4,465, compared to $4,368 in the fourth quarter of 2020.
- GAAP net loss of ($61) or ($0.04) per diluted share, compared to GAAP net income of $12, or $0.01 per diluted share, in the fourth quarter of 2020.
- Adjusted earnings of $286, or $0.17 per diluted share, compared to ($156), or ($0.09) per diluted share, for the quarter ended December 31, 2020. Adjusted earnings, a non-GAAP measure, is defined below.
- Adjusted EBITDA of $665, compared to $140 for the quarter ended December 31, 2020. Adjusted EBITDA, a non-GAAP measure, is defined below.
Financial Results for the Year Ended December 31, 2021
- Revenues of $52,924, a 12.3% decrease compared to the prior year.
- Operating expenses, excluding a third quarter 2020 impairment loss of $939 and restructuring costs of $635, were down 17.6% to $17,600, compared to $21,368 in the prior year.
- GAAP net income of $4,366 or $2.64 per diluted share, compared to GAAP net loss of ($8,971), or ($5.60) per diluted share, in the prior year.
- Adjusted earnings of ($70), or ($0.04) per diluted share, compared to $880, or $0.55 per diluted share, for the year ended December 31, 2020. Adjusted earnings, a non-GAAP measure, is defined below.
- Adjusted EBITDA of $1,395, compared to $2,264 for the year ended December 31, 2020. Adjusted EBITDA, a non-GAAP measure, is defined below.
Scott Switzer, the Company's Interim Chief Executive Officer, stated, "Our fourth quarter results demonstrate the successful execution of our One Costar initiative. We ended the year with a record backlog of over $6 million that will ship throughout 2022. We believe our ability to adapt our business model to meet shifting customer demands helped drive our results, and more importantly, better positions us for when macroeconomic conditions and supply chain shortages improve. While we continue to face ongoing material and labor inflation, we are pleased with the progress made, the initiatives we are pursuing and our positioning for long-term, sustainable growth."
Sarah Ryder, the Company's Chief Financial Officer, went on to say, "We closed out 2021 with our strongest revenue quarter of the year. Although the overall inefficiencies produced by the global supply chain and labor conditions created some gross margin contraction during the quarter, continued expense management drove an additional $0.4 million decrease to our overall debt position in the fourth quarter of 2021. As we enter 2022, I'm confident we will continue to drive revenue growth and improved profitability in the coming year."
The Company's independent auditors completed their analysis of the Company's financial condition. The Independent Auditor's Review Report, including financial statements and applicable footnote disclosures, is available on our website at www.costartechnologies.com.
Non-GAAP Financial Measures
The Company defines adjusted earnings, a non-GAAP measure, as net income (loss) excluding stock-based compensation, amortization of acquisition-related intangible assets, restructuring costs, impairment loss, revaluation of deferred tax asset, modification to inventory reserve policy, PPP loan forgiveness and Employee Retention Credits. The Company defines adjusted EBITDA, a non-GAAP measure, as earnings before interest, taxes, depreciation, amortization, stock-based compensation, restructuring costs, impairment loss, modification to inventory reserve policy, PPP loan forgiveness and Employee Retention Credits. The following tables reconcile the non-GAAP financial measures disclosed in this release to GAAP net income (loss):
These reconciliations of GAAP to non-GAAP measures should be considered together with the Company's financial statements. These non-GAAP measures are not meant as a substitute for GAAP but are included solely for informational and comparative purposes. The Company's management believes that this information can assist investors in evaluating the Company's operational trends, financial performance, and cash generating capacity. Management believes these non-GAAP measures allow investors to evaluate the Company's financial performance using some of the same measures as management. However, the non-GAAP financial measures should not be regarded as a replacement for (or superior to) corresponding, similarly captioned, GAAP measures.
About Costar Technologies, Inc.
Costar Technologies, Inc. develops, designs, manufactures, and distributes a range of security solution products including surveillance cameras, lenses, digital video recorders and high-speed domes. The Company also develops, designs, and distributes industrial vision products to observe repetitive production and assembly lines, thereby increasing efficiency by detecting faults in the production process. Headquartered in Coppell, Texas, the Company's shares currently trade on the OTC Markets Group under the ticker symbol "CSTI". Costar was ranked as the 40th largest company in a&s magazine's Security 50 for 2020. Security 50 is an annual ranking by the magazine of the world's largest security manufacturers in the areas of video surveillance, access control and intruder alarms, based on sales revenue.
Cautionary Statement Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the Company's ability to grow revenue and earnings, that are subject to substantial risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to risks related to the ability to diversify business across vertical markets, secure new customer wins, and launch new products. You can often identify forward-looking statements by words such as "believe," "may," "estimate," "continue," "anticipate," "intend," "plan," "expect," "predict," "potential," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, but they involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of the risks and uncertainties.
You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information, except to the extent required by applicable laws.
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SOURCE Costar Technologies, Inc.
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https://www.wibw.com/prnewswire/2022/04/01/country-garden-releases-financial-results-2021-revenue-grows-13-us822-billion/
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FOSHAN, China, March 31, 2022 /PRNewswire/ -- On March 30, Country Garden Holdings Company Limited ("Country Garden") (02007.HK) released its financial results for 2021. The company maintained its industry leading position in sales and achieved stable growth in revenue and top performance in days sales outstanding (DSO), demonstrating robust operational resilience.
For the year ended December 31, 2021, Country Garden achieved contracted sales attributable to shareholders of approximately 558 billion yuan (approx. US$87.7 billion) with contracted sales GFA attributable to shareholders of 66.41 million square meters. Statistics show that from 2015 to 2021, the company's compound growth rate of contracted sales reached 29%.
In the sales rankings released by China Index Academy, CRIC and other third-party organizations, Country Garden is the only real estate developer with full caliber sales surpassing 700 billion yuan (approx. US$110 billion), and equity sales exceeding 500 billion yuan (approx. US$78.6 billion), maintaining its top position in the industry.
In terms of core profit indicators, the Group booked revenue of 523.06 billion yuan (approx. US$82.2 billion), gross profit of 92.78 billion yuan (approx. US$14.6 billion) and net profit of 40.98 billion yuan (approx. US$6.4 billion) for the full year. Core net profit attributable to shareholders stood at 26.93 billion yuan (approx. 4.2 billion).
Adequate cash flow is a key factor in managing and minimizing risk as the industry witnesses a tightening of capital and many developers face a cash squeeze as their bonds reach maturity. During the reporting period, Country Garden's cash collected from attributable contracted sales amounted to 502.2 billion yuan (approx. US$79 million), with a cash collection ratio of 90%. Of note is that Country Garden has maintained this ratio at a level of 90% or higher for six consecutive years.
In addition to further improvement in the financial position, Country Garden's debt level has declined steadily year by year, with financing costs falling in tandem. As of December 31, 2021, the Group had sufficient available cash of 181.3 billion yuan (approx. US$28.5 billion); total interest-bearing debt decreased by 2.6% to 317.92 billion yuan (approx. US$50 billion) with net gearing ratio of 45.4%, down 10.2 percent points YoY; weighted average borrowing cost decreased by 36 basis points to 5.2%. Cash flow to short-term debt ratio stood at 2.3x.
Despite the industry in China as whole going through a period of significant adjustment, Country Garden's sound operations and stable financial management assured the firm continued recognition and support from credit rating agencies and major financial institutions.
The real estate industry in mainland China entered a downward cycle during the second half of 2021, with the three major international rating agencies having cumulatively downgraded the rating or outlook of Chinese real estate developers some 250 times, reflecting the impact that the downturn had on the affected developers and their ability to raise or borrow funds. However, both Moody's and Fitch maintained their investment-grade rating on Country Garden, while Standard & Poor's kept the developer's "BB +" rating and outlook of "positive".
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SOURCE Country Garden Holdings
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https://www.wibw.com/prnewswire/2022/04/01/f-factor-announces-hiring-hugh-dever-chief-operating-officer/
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NEW YORK, March 31, 2022 /PRNewswire/ -- F-Factor, a leading dietitian-created program for weight loss and optimal health based on fiber-rich nutrition, announced the hiring of Hugh Dever to the role of Chief Operating Officer, reporting directly to Chief Executive Officer Tanya Zuckerbrot MS, RD.
"I feel honored to join an organization that has helped thousands of people lose weight and improve their health with a scientific, liberating, and sustainable approach." said Mr. Dever. "I am looking forward to working with Tanya, our Registered Dietitians, and the entire team to bring the F-Factor approach and products to more people."
Mr. Dever has nearly 30 years of experience in the consumer-packaged goods and consumer services industries. Prior to F-Factor, he was V.P. of Strategy, Marketing, and Innovation for CEA Fresh Farms, a start-up developing environmentally sustainable solutions to growing, harvesting and delivering fresher and healthier produce to consumers looking for locally produced products. Mr. Dever has previously held brand and general management roles at Procter and Gamble, Weight Watchers International and Chiquita/Fresh Express.
"We are excited for Hugh Dever to join our leadership team and F-Factor to benefit from his impressive experience in the wellness space," said Tanya Zuckerbrot, MS, RD, CEO of F-Factor. "Hugh will be integral to F-Factor's continued growth with a focus on expanding our portfolio of high-fiber/high-protein products, our service business and scaling our digital capabilities."
About F-Factor
Fad diets come and go, but after more than two decades of success stories and ongoing praise from the media, The F-Factor Diet has stood the test of time. Now hailed as the go-to lifestyle program for anyone who wants to improve their health and lose weight for good, F-Factor's scientifically proven approach allows you to see results without hunger, deprivation, or denial. Change your life without disrupting your lifestyle: dine out, drink alcohol, eat carbs, and work out less from Day 1.
The F-Factor Program has been endorsed by numerous physicians and dietitians, including Dr. Jerome Zacks, Assistant Clinical Professor at the Mount Sinai Medical Center: "The F-Factor Diet is packed with critical facts that form the foundation for a knowledge-based approach to lifestyle nutritional success. Tanya's scholarly approach is a gift that gives forever. Her contribution to preventative health care is immeasurable."
To learn more about the F-Factor Program, the bestselling F-Factor Diet Book, and F-Factor products, visit our website at www.ffactor.com, or follow us on Instagram, Facebook and Twitter.
About Tanya Zuckerbrot
Tanya Zuckerbrot, MS, RD, is an internationally-known dietitian, a two-time bestselling author, and the creator and CEO of the renowned F-Factor Diet—a liberating and sustainable approach to weight loss and optimal health based on scientifically proven fiber-rich nutrition. Zuckerbrot has worked in private practice for more than 20 years and has advised thousands of clients, including celebrities, business and government leaders and media personalities to improve their health and manage their weight through nutrition.
Zuckerbrot holds a master's degree in Nutrition and Food Studies from New York University; is an accredited member of the American Dietetic Association, the Greater New York Dietetic Association, and the American Association for Diabetes Educators; and is a member of the National Association of Professional Women. Zuckerbrot holds a Commission of Dietetic Registration (CDR) Certificate of Training in Adult Weight Management as well as a CDR Certificate of Training in Childhood and Adolescent Weight Management.
Media Contact: Abigail Gannon
Agannon@ffactor.com
646.442.3904
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SOURCE F-FACTOR. LLC
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https://www.wibw.com/prnewswire/2022/04/01/first-mmorpg-yulgang/
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Tigon Mobitle, subsidiary of Longtu Korea, 'Yulgang Global' official launch on global market… break through 5 million pre-registration
- 'Yulgang Global' has surpassed 5 million pre-registration before release, expectations of success are rapidly rising
- 'Yulgang Global' official launch on global market at 1st April
SEOUL, South Korea, March 31, 2022 /PRNewswire/ -- Tigon Mobile, a subsidiary of Longtu Korea's mobile MMORPG 'Yulgang Global' officially launched on the global market at 1st April.
Martial arts comic IP 'Yul-hyul Kangho', which is the based on 'Yulgang Global' that recorded more than 5 million global pre-registration right before the release, has records of over 6 million global martial arts publications, 7 million paid digital downloads, and 1 billion paid subscriptions.
'Yulgang Global' is a game that added a payment method called Tigon Token (TIG) to 'Yul-hyul Kangho for kakao', which Longtu Korea recorded 3rd place in Google Play sales and 1st place in One Store sales at the time of its launch in year 2017. The game industry is paying attention to the future performance of 'Yulgang Global', which has a solid player base.
'Yulgang Global' applied 'Tigon Token (TIG)', a utility token of the WEMIX platform, and P2E currency Crystal. From now on, Tigon Token (TIG) is a standard currency that will be used in P2E games based on the WEMIX platform released by Longtu Korea and Tigon Mobile.
Longtu Korea and its subsidiary Tigon Mobile are expected to accelerate on launching P2E games based on the WEMIX platform later on, starting with the launch of 'Yulgang Global'.
A company official said, "Korea's leading martial arts comic IP Yul-hyul Kangho is standing on a new starting line. We will do our best to make this game beloved world-wide with an attitude not to compromise on stability and quality."
YULGANG GLOBAL DOWNLOAD : https://bit.ly/3IOmEVn
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SOURCE Tigon Mobile
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https://www.wibw.com/prnewswire/2022/04/01/heat-streets-toyota-debuts-first-ever-gr-corolla/
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- 1.6L, 3-cylinder direct/port injected turbo engine delivers 300 hp and 273 pound-feet of torque
- GR-Four AWD system with customizable front-rear power settings
- Available in two grades: Core and launch-year-exclusive Circuit Edition
- Born from rally racing and tested to meet the highest standards set by master driver Akio Toyoda and professional TOYOTA GAZOO Racing drivers
- Genuine Toyota sportscar, precision built at the GR Factory at Toyota's Motomachi Plant
- Complimentary 1-year membership to the National Auto Sport Association, featuring a High-Performance Driving Event with expert instruction
LONG BEACH, Calif., March 31, 2022 /PRNewswire/ -- It's official: The powerful, stylish and agile hot hatch U.S. drivers are looking for is on its way, the first-ever 2023 GR Corolla. With the detail-obsessed TOYOTA GAZOO Racing team at the helm, and master driver Akio Toyoda, a.k.a. Morizo, signing off on approval, this all-new addition to Toyota's growing lineup of sports cars brings the performance, handling and functionality that hot hatch fans love.
Powered by the lightweight, compact-yet-powerful G16E-GTS turbo-charged, direct/port injected three-cylinder engine, GR Corolla delivers 300 hp and 273 lb.-ft. of torque. Engineered for snappy acceleration out of the corners, output hits peak torque at 3000-5500 rpm, with max horsepower coming at 6500 rpm. Its thrill-inducing power is piped through a unique triple exhaust that's designed to reduce backpressure for maximum power delivery.
The G16-E engine is paired with Toyota's rally developed GR-Four All-Wheel-Drive (AWD) drivetrain. This system gives drivers a choice of 60-40, 50-50 or 30-70 power distribution to the front and rear wheels. GR Corolla will be offered exclusively in a manual transmission, staying true to its hands-on rally racing roots.
Its broad hatch profile and low center of gravity are built on Toyota's GA-C platform, with enhanced frame reinforcements developed specifically for GR Corolla at GR Factory at Toyota Motomachi plant. Functional exterior air vents and aerodynamic features further support steering stability.
GR Corolla will come in two grades, Core and Circuit Edition.
The Core Grade will be available later this year in white, black and Supersonic Red. It will have a color keyed roof with rear lip spoiler, GR-Four stamped side rockers and wide-fender flares. On the inside, seating for five will come with GR logoed fabric sport seats.
The Circuit Edition will be a limited-run model available in 2023. Standard colors are white, Supersonic Red and Heavy Metal with the same GR-Four stamped side rockers and wide fenders as the Core. It adds a forged carbon fiber roof, vented bulge hood and a sporty rear spoiler, Brin Naub® suede-trimmed sport seats with red accents and a launch-year-exclusive Morizo signed shift knob.
The GR Corolla will come equipped with the all-new touchscreen Toyota Audio Multimedia system.
Pricing will be announced later this year.
Race Inspired Engineering
In 2007, Toyota expanded its car development activities with a decision to compete in the 24 Hours Nürburgring, the grueling endurance race held on the famous track winding through the German forest. However, as an unofficial Toyota activity, the team was called GAZOO Racing and was made up of employees, including Akio Toyoda driving under the alias of Morizo.
With a limited budget, the newly named team entered the race with two second-hand Altezzas. Despite adversity, both cars finished the challenging race, and a new era of Toyota motorsports and product development, one founded on a spirit of challenge aimed at instigating change, began.
As TOYOTA GAZOO Racing's first wholly developed and manufactured model for the North American market, the GR Corolla carries this spirit forward.
With professional drivers, experts and Morizo at the wheel, GR Corolla was tested repeatedly at some of Japan's leading circuits, including Fuji Speedway, Suzuka and Tsukuba Circuit. In addition, the GR team carried out heavy duty dirt and snow driving with a Japanese Rally Championship driver. No road was left unturned in the process, so engineers and technicians could sharpen acceleration and control worthy of the GR name.
GR Factory
To help meet the performance goals for the GR Corolla, Toyota has established a dedicated GR Factory at its production facility in Motomachi, Japan. It's the birthplace of legends such as the Lexus LFA and Supra A80 and is now home to the first GR production line, where GR Corolla and GR Yaris are precision built.
Instead of the traditional conveyor system, the body and assembly lines comprise several different cells connected by automatic guided vehicles (AGVs) rather than the conveyors featured in conventional car plants. This fully flexible method of working, with many manual assembly techniques, enables precise body and suspension alignment, with variations in vehicle dimensions and weight kept to a minimum.
Being built by experts means that the assembly of each GR Corolla takes longer than a conventional mass-produced car. The production line has been streamlined for performance, with elements such as body alignment and weld checks to ensure that each GR Corolla is built with meticulous care and attention.
Toyota Gazoo Racing has brought together highly skilled technicians from throughout the company to work on the GR Corolla. This team not only assembles every GR Corolla but also contributes to the technical skills of workers at other Toyota facilities. It's a team structure that's part of the overall GR mission at Toyota, developing people, driving fans and making ever better cars.
The GR-FOUR System
With all TOYOTA GAZOO Racing sports cars firmly rooted in motorsports, it only makes sense that the GR Corolla's drivetrain was born from the rigors of rally racing.
At the heart of the new GR Corolla is the GR-FOUR All-Wheel-Drive system, Toyota's first sports all-wheel-drive system in over 20 years. Developed in collaboration with the TOYOTA GAZOO Racing World Rally Team and honed by WRC drivers, it delivers exceptional levels of traction and control with engineering designed to optimize drive power to each wheel, while also being simple and lightweight.
Made for rally, the GR-FOUR system is designed for a variety of conditions. Whether the driver is looking to adjust performance for dirt, rain or snow, or just in the mood for a different feel, the GR-FOUR system offers settings to match.
With the twist of a dial, GR Corolla can adjust four-wheel drive performance to fit the driver's needs. For every-day situations, drivers can set a front/rear torque distribution of 60:40; for a more sport setting, balance can shift to the rear, with 30:70 distribution for a fun-to-drive quality on winding roads and circuits; and for maximum stability a 50:50 setting can be used for fast, competitive track driving on circuits or special stages. In each mode, the torque balance will automatically adjust in response to the driver's inputs, vehicle behavior and road or track conditions.
The GR Corolla Circuit Edition is also equipped with front and rear Torsen Limited-Slip Differentials (LSD), which offer enhanced cornering performance and grip with control of left and right-hand drive torque distribution on the front and rear axles. Front and rear LSD is available as part of the Performance Package on the Core grade, with 4WD open differentials standard.
Revolutionary 3-Cylinder Turbo Engine
For GR Corolla, we took the same turbocharged G16E-GTS powerplant used in the GR Yaris and boosted its output. This compact-yet-powerful three-cylinder engine has increased power for GR Corolla thanks to improved engine exhaust efficiency thanks to a 3-piece muffler with valve capped off with brushed stainless steel tips. This design reduces exhaust pressure and outside noise, which are essential to backpressure performance.
The G16E also benefits from motorsport technologies that maximize performance, including multi-oil jet piston cooling, large-diameter exhaust valves and a part-machined intake port. Displacing 1,618 cubic centimeters, it produces a maximum power of 300 hp and 273 pound-feet of torque.
Compact and lightweight, the DOHC 12-valve engine features a single-scroll ball-bearing turbo that's matched to a 6-speed intelligent manual transmission (iMT) with rev-matching engineered to accommodate high torque levels. The turbocharger is integrated in the exhaust manifold, reducing weight, while control of wastegate bypass gases is used to improve the catalyst's warm-up efficiency. Combustion is fed by Toyota's D-4S direct and port fuel injection system, which operates at high pressure for maximum fuel dispersion and efficiency.
Wide, Rigid and Designed to Handle
To achieve control worthy of the GR badge, a highly rigid body was specially constructed for GR Corolla. Based off the GA-C platform, it produced handling performance that rewards the driver. Enhanced rigidity comes from significantly more weld points in the frame, particularly to strengthen joints. Further gains are made through extensive use of structural adhesive, increasing the joint rigidity between component parts.
The front suspension is a MacPherson-type strut design that offers both light weight and firm handling, maximizing the tires' grip potential. Made up of circuit-tuned coil springs, shock absorbers and stabilizer bars, the front suspension is designed to deliver all the engine's power to the road and provide optimum cornering capability on all surfaces. The rear suspension uses a double-wishbone type multilink system that accommodates the AWD system's goal of maximum agility and stability.
Wide tread tires ensure high cornering performance while maintaining the excellent high speed stability of the GR Corolla's 103.9-inch long wheelbase. It wears Michelin Pilot Sport 4 tires 235/40R18 on the both grades and comes equipped with 18-in. gloss-black 15-spoke cast alloy wheels on the grades.
Braking power comes from opposed, fixed-caliper disc brakes with 14 x 1.1-inch ventilated and slotted rotors outfitted with 4-piston aluminum calipers on both grades, the Circuit Edition caliper is red painted with GR logo. At the rear, 11.7-in. x 0.7-in. ventilated rotors with 2-piston aluminum fixed-caliper disc brakes with red-painted calipers and GR logo are standard on the Circuit Edition.
Lightweight and Aerodynamic
Throughout the GR Corolla, there has been a focus on saving weight to maximize the performance potential, without compromising strength and safety. This rigorous approach is particularly evident in the car's construction, with extensive use of lightweight metals and materials used in key areas.
On the Circuit Edition, the roof is made of a forged (rather than woven) carbon sheet molding compound. This lightweight, highly rigid material keeps off the ounces that a steel roof would bring and helps lower the car's center of gravity.
Aluminum is used for the hood and front door panels, with light and strong high-tensile steel in critical areas to ensure the car's structure can safely absorb and dissipate impact forces.
For the best possible aerodynamic performance, GR Corolla's nose ascends to a tapering roof line. Wind flow is directed onto the rear spoiler to generate extra downforce. As with rally cars, the shaping of the front and rear canards and GR-FOUR stamped lower rockers efficiently channel airflow down the sides of the vehicle. Hood, fender and rear bumper ducts and a flat underfloor reduce drag, add downforce and improve stability.
Rally Ready Hot Hatch Style
The wide stance and broad hatch exterior design of GR Corolla projects a strong, attack ready style with its black GR badged functional matrix grill. Flanked by functional air ducts on both sides, the front grille on the Circuit Grade comes in gloss-black and features integrated LED fog lamps. Auto on/off LED headlamps and LED DRLs are standard on both grades.
Both grades feature wide front and rear fender-flares. The Circuit Edition features a bulge hood with functional gloss-black air ducts. The Carbon Fiber roof on the Circuit Edition is matched with a matte-black roof mounted shark fin antenna. The Core Grade features an aluminum hood with a color-keyed roof and matching shark-fin antenna. Gloss-black heated power outside mirrors with turn signal indicators, gloss-black window molding and black GR Corolla badges are standard on both grades.
At the rear, both grades feature a rear lower bumper cover with functional air vents, for an extra touch these vents are gloss-black on the Circuit Edition. The tapering of the roof and rear pillars are complimented by a high mounted matte-black rear spoiler on the Circuit and a gloss-black rear-lip spoiler on the Core Grade. The wide track and flaring of the rear wings emphasize the car's wide and low silhouette.
Race Inspired Interior
The design of the GR Corolla's interior reflects the car's performance, particularly around the driver's cockpit.
Incorporating the feedback of professional drivers, a GR Full TFT meter was newly developed with a 12.3-inch color Multi-Information Display (MID) that has a GR meter with 4WD mode, turbo pressure, gear position indicator and tachometer. The brightly lit display is designed for easy-viewing in any condition and even features a start-up GR animation.
The shift lever has a shortened stroke for a quick throw between gears. Positioned where the driver's arm is naturally lowered from steering, the action is light with short shift strokes, adding to the performance quality. GR Corolla uses a pull type mechanical parking brake.
The Circuit Edition's interior is finished in black with red trim details around the door handles, center console, steering wheel and side air vents, and the Core Grade is finished with black and silver details.
Brin Naub® suede and synthetic leather-trimmed sport seats with red stitching, red mesh inserts and GR badged headrests; 6-way adjustable driver's seat with seatback pocket; 4-way adjustable front passenger seat with seatback pocket are standard on the Circuit Edition. Fabric sport seats with gray stitching and GR badged headrests; 6-way adjustable driver's seat with suede sheet seatback pocket; 4-way adjustable front passenger seat with seatback pocket are standard on the Core.
Automatic climate control, power windows with one-touch auto up/down and heated front seats and steering wheel standard on Circuit Edition. Heated front seats and steering wheel are available with the of Cold Weather package option on Core Grade.
A GR leather-trimmed tilt/telescopic sport steering wheel with audio, Multi-Information Display, Bluetooth® hands-free phone and voice-command controls comes standard on the Circuit Edition. For an added touch, a "Morizo" signed shift knob comes exclusively on the launch year Circuit Edition.
Standard on both grades is a push button GR engine start/stop button, aluminum sport pedals, two USB charging ports, one 12V auxiliary power outlet, lighted foot wells, front console tray and rear console box. Qi-compatible wireless smartphone charging with full charge indicator light is standard on the Circuit Edition and available as part of the Technology package on the Core Grade.
The all-new Toyota Audio Multimedia system will come standard on all GR Corollas. Featuring an 8-inch touchscreen, the system offers an improved user experience thanks to new sight, touch and voice activation. With Intelligent Assistant available through Drive Connect*, simple phrases like "Hey Toyota" awakens the system for voice-activated commands to search for directions, find POIs, adjust audio controls, change the cabin temperatures and more.
The cloud-based native navigation system offered through Drive Connect allows for real-time Over the Air updates for mapping and Points of Interest (POI), and Google POI data is integrated to ensure up-to-date search capability. It also supports standard wireless Apple CarPlay® and Android Auto compatibility.
Toyota Audio Multimedia allows for simultaneous dual Bluetooth phone connectivity. A Wi-Fi Connect subscription offers 4G connectivity for up to five devices by turning GR Corolla into an AT&T Hotspot*, and it also offers the ability to link your separate Apple Music® and Amazon Music subscriptions to your vehicle with Integrated Streaming.
The Circuit Edition comes with Premium Audio with Dynamic Navigation with eight JBL® speakers with amplifier. It includes a USB media port, two USB charge ports, Dynamic Navigation with 3-year trial, Dynamic POI Search, Dynamic Voice Recognition, hands-free phone capability and music streaming via Bluetooth® wireless technology, SiriusXM® with 3-month All Access trial. See toyota.com/audio-multimedia for details. Connected Services — Safety Connect® with 1-year trial, Service Connect with 10-year trial, Remote Connect with 1-year trial, Wi-Fi Connect with up to 2GB within 3-month trial and Destination Assist with 1-year trial. See toyota.com/connected-services for details.
The Core Grade comes with six speakers, Android Auto™ & Apple CarPlay® & Amazon Alexa compatible, USB media port, two USB charge ports, hands-free phone capability and music streaming via Bluetooth® wireless technology, SiriusXM® with 3-month All Access trial. See toyota.com/audio-multimedia for details. Connected Services1 — Safety Connect® with 1-year trial, Service Connect with 10-year trial, Remote Connect with 1-year trial, and Wi-Fi Connect with up to 2GB within 3-month trial. See toyota.com/connected-services for details. Premium Audio with Dynamic Navigation and JBL® w/Clari-Fi®, and Qi-compatible wireless smartphone charging are available as part of the Technology Package.
Safety & Other Technology
All GR Corolla grades come standard with Toyota Safety Sense 3.0 (TSS 3.0), which includes enhancements made possible by system sensors with improved detection capability. The Pre-Collision System with Pedestrian Detection is also capable of detecting motorcyclists and guardrails in certain conditions. When making a turn or approaching an intersection, the system is designed to detect forward or laterally approaching oncoming vehicles and provides audio/visual alerts and automatic braking in certain conditions. Improved lane recognition delivers refined performance of Lane Departure Alert with Steering Assist and Lane Tracing Assist.
GR Corolla will be equipped with Dynamic Radar Cruise Control (DRCC). Lane Departure Alert with Steering Assist is designed to notify the driver via audible and visual alerts and slight steering force if it senses the vehicle is leaving the lane without engaging a turn signal. When DRCC is set and engaged, Lane Tracing Assist uses visible lane markers or a preceding vehicle to help keep the vehicle centered in its lane.
Automatic High Beams are designed to detect preceding or oncoming vehicles and automatically switch between high beam and low beam headlights. Road Sign Assist is designed to recognize certain road sign information using a forward-facing camera and display them on the multi-information display (MID).
Toyota's Rear Seat Reminder comes standard on all GR Corolla grades. The feature can note whether a rear door was opened within 10 minutes of the vehicle being turned on, or at any time after the vehicle has been turned on, with a reminder message in the instrument cluster after the engine is turned off, accompanied by multitone chimes.
In addition to the TSS 3.0 system, other standard safety features on the GR Corolla include Blind Spot Monitor (BSM), which is designed to help detect and warn you of vehicles approaching or positioned in the adjacent lanes and Rear Cross Traffic Alert (RCTA) for added peace of mind by helping to detect vehicles approaching from either side while backing out and alerting you with a visual and audible warning. Hill Start Assist Control (HAC) also comes standard.
GR Corolla comes with a one year trial subscription of Toyota Safety Connect® at no additional cost — includes Emergency Assistance, Stolen Vehicle Locator, Roadside Assistance and Automatic Collision Notification.
Option Packages
GR Corolla Core Grade is available with the following packages:
- Performance package: Includes front and rear Torsen Limited Slip Differentials (LSD).
- Technology package: Includes Premium Audio with Dynamic Navigation and JBL® w/Clari-Fi®, and Qi-compatible wireless smartphone charging.
- Cold Weather Package: Includes heated front seats and heated steering wheel.
Preliminary Specifications
All specifications are estimated and values and not final.
GR Corolla pricing will be announced in the coming months, and it will go on sale later this year.
Limited Warranty and ToyotaCare
Toyota's 36-month/36,000-mile basic new-vehicle warranty applies to all components other than normal wear and maintenance items. Additional 60-month warranties cover the powertrain for 60,000 miles and corrosion with no mileage limitation. Toyota dealers have complete details on the limited warranty. GR Corolla also comes with ToyotaCare, a plan covering normal factory-scheduled maintenance and 24-hour roadside assistance for two years or 25,000 miles, whichever comes first.
*Certain features include a trial period at no extra cost upon original date of new vehicle purchase or lease. After the trial period ends, a paid subscription is required. More details on trial periods and subscription-based features can be found at https://www.toyota.com/connected-services/.
About Toyota
Toyota (NYSE:TM) has been a part of the cultural fabric in the U.S. for more than 60 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our nearly 1,500 dealerships.
Toyota directly employs more than 39,000 people in the U.S. who have contributed to the design, engineering, and assembly of nearly 32 million cars and trucks at our nine manufacturing plants. By 2025, Toyota's 10th plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. With the more electrified vehicles on the road than any other automaker, a quarter of the company's 2021 U.S. sales were electrified.
To help inspire the next generation for a career in STEM-based fields, including mobility, Toyota launched its virtual education hub at www.TourToyota.com with an immersive experience and chance to virtually visit many of our U.S. manufacturing facilities. The hub also includes a series of free STEM-based lessons and curriculum through Toyota USA Foundation partners, virtual field trips and more. For more information about Toyota, visit www.ToyotaNewsroom.com.
About TOYOTA GAZOO Racing
TOYOTA GAZOO Racing embodies Toyota's commitment to overcoming every limit to make 'ever-better' cars, to forge new technologies and solutions under the extreme conditions of motorsports, and to never stop innovating. TOYOTA GAZOO Racing races its cars to push the limits for better and to learn from the toughest challenges. Competing on every kind of road, no matter what the challenge, inspires TOYOTA GAZOO Racing to build 'ever-better' cars and engineer Toyota's future DNA to bring freedom, adventure, and joy of driving to everyone. For more information, visit www.toyotagazooracing.com.
Photos and B-Roll Available at pressroom.toyota.com
Media Contact:
Paul Hogard
469-292-6791
paul.hogard@toyota.com
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https://www.wibw.com/prnewswire/2022/04/01/pantene-celebrates-transgender-visibility-latin-america/
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Short Film Chronicles the Quinceañera Dream of One Woman
NEW YORK, March 31, 2022 /PRNewswire/ -- Marking International Transgender Day of Visibility, Pantene today released a documentary-style short film chronicling the Quinceañera of a transgender woman, Isa, denied one as a teenager. Longtime agency Grey New York created the campaign.
Against great odds (see stats), from job discrimination to systemic violence, transgender women have made significant progress in Latin America, holding elective office and as business leaders.
People begin understanding their gender identity as early as three years old. But many transgender people don't know or share this about their gender until later in life due to safety and issues of cultural acceptance.
"It doesn't matter when or at what age someone knows who they are, whether at 15 or 44. Whenever they feel comfortable being themselves and sharing that truth is a moment to celebrate," said Martina Brubacher, Director of Communications for Pantene for Latin America, "As a brand, we know the power of hair and how it can be a statement for expressing one's true self, so it's important for us to feature stories like Isa's, a transgender woman who celebrates her journey."
The Quinceañera is a dream come true for many Latina girls as they turn fifteen. But this rite of passage to womanhood, celebrated by family and community, has often excluded transgender women from this cultural milestone.
Pantene has partnered with Isa, a transgender woman in her forties, to give her the Quinceañera she never had. The film tells her poignant story and follows her preparations leading up to and including the day with her friends and family. (Link to the film)
"For all the times I had to hide my identity and deny my existence - today I say, I am here. I am Isa," said Isa
The integrated digitally-led campaign includes online video, social media, influencers, and public relations. The brand once again worked with GLAAD, which accelerates the acceptance and inclusion of LGBTQIA+ people by sharing stories and accessing all forms of media to uplift members of the community.
"The team chose to launch this film on International Day of Trans Visibility – to inspire every young transgender person. Anything is possible; happiness and acceptance is something everyone deserves," said Javier Bonilla, Executive Creative Director at Grey.
Please see statistics on the challenges transgender people face:
- Since Statista started collecting data, 2021 is the year with the highest number of deaths of transgender and gender-diverse people, with 375 murders recorded between October 1, 2020, and September 30, 2021. Most of the murders took place in Brazil (125), Mexico (65), Honduras (53), and the United States (53).
- According to the data reported by Sin Violencia LGBTI, between the years 2014 and 2020, 1403 people from the LGBTI community were murdered for reasons related to prejudice against their sexual orientation or gender identity.
- 94% of the transgender population In Brazil reports suffering some form of violence motivated by discrimination due to their gender identity
- 175 transgender people were murdered in Brazil in 2020, 41% more than in 2019 (the country leads the ranking of murders of trans people in the world)
Source
1. Roa, M. M. (2021, November 18). Infografía: Los países con más asesinatos de personas trans. Statista Infografías. Retrieved March 30, 2022, from
https://es.statista.com/grafico/23552/personas-trans-y-genero-diversas-asesinadas-yhttps://es.statista.com/grafico/23552/personas-trans-y-genero-diversas-asesinadas-y-paises-con-mas-victimas/paises-con-mas-victimas/
2.3.4 Sin Violencia LGBTI. "Des-Cifrando La Violencia En Tiempos De Cuarentena." Sin Violencia LGBT, June 2021, https://sinviolencia.lgbt/des-cifrando-la-violencia-entiempos-de-cuarentena/.
About P&G
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands. For other P&G news, visit us at www.pg.com/news.
About Grey
Grey, the global communications network, is part of AKQA Group. Its parent company is WPP (NYSE: WPP). Under the banner of "Grey Famously Effective" the agency serves a blue-chip roster of many of the world's best-known companies: Procter & Gamble, Google, Volvo, Amazon, GlaxoSmithKline, Kellogg's, Netflix, the NBA, Pfizer, YouTube, Canon, Nestlé and Applebee's. In recent years, Grey has been named ADWEEK'S "Global Agency of the Year" twice; ADVERTISING AGE's "Agency of the Year" and CAMPAIGN magazine's "Global Network of the Year" in recognition of its creative and business performance (www.grey.com).
Contact: Owen Dougherty
Owen.dougherty@grey.com
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https://www.wibw.com/prnewswire/2022/04/01/ruby-pipeline-files-reorganize-under-chapter-11-bankruptcy-code/
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HOUSTON, March 31, 2022 /PRNewswire/ -- Today, Ruby Pipeline, L.L.C. (Ruby), a natural gas pipeline joint venture between Kinder Morgan, Inc. (NYSE: KMI) and Pembina Pipeline Corporation (NYSE: PBA) that extends from Wyoming to Oregon, filed to reorganize under chapter 11 of the Bankruptcy Code in response to an upcoming debt repayment obligation. In recent months, the joint venture owners have been working diligently with Ruby's bondholders in an effort to work out a mutually satisfactory resolution. While those efforts will continue, Ruby's current financial condition necessitates this filing.
KMI will continue to operate the pipeline as chapter 11 permits daily operations to continue. Ruby's customers should notice no difference in its operations.
We will continue to keep Ruby's customers and other stakeholders informed of developments relating to Ruby's reorganization process. The voluntary petition was filed in the United States Bankruptcy Court for the District of Delaware in Wilmington. The case number is 22-10278. Additional information regarding Ruby's petition and claim procedures is available through the following website: https://cases.primeclerk.com/rubypipeline.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements. Generally the words "expects," "believes," anticipates," "plans," "will," "shall," "estimates," and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning the anticipated operations of Ruby and potential continued negotiations with Ruby's bondholders. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although Ruby believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on Ruby's operations or financial condition.
Media Contact:
RubyTeam@Primeclerk.com
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https://www.wibw.com/prnewswire/2022/04/01/sampp-dow-jones-indices-msci-announce-revisions-global-industry-classification-standard-gics-structure-2023/
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NEW YORK, March 31, 2022 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI"), a leading provider of financial market indices, and MSCI Inc. (MSCI), a leading provider of research-based indices and analytics, have conducted their annual review of the Global Industry Classification Standard (GICS®) structure.
The annual GICS methodology review is intended to ensure that the GICS structure continues to appropriately represent the global equity markets and, thereby, enable asset owners, asset managers and investment research specialists to make consistent global comparisons by industry. The GICS structure revision is the result of a consultation with market participants.
Based on the consultation feedback received, S&P DJI and MSCI have concluded that the proposed changes related to the reclassification of renewable energy companies and the consolidation of Diversified Banks and Regional Banks will not be implemented due to lack of market consensus. All other changes proposed in the consultation will be implemented.
The changes to the GICS structure will be implemented in GICS Direct and S&P DJI's indices after the close of business (ET) on Friday, March 17, 2023. A select list of large market capitalization companies affected by the changes will be announced no later than June 30, 2022. The full list of companies affected by these changes will be made available to clients no later than December 15, 2022. MSCI will consult with clients regarding implementation in their indexes.
The results of the consultation and changes to the GICS structure in 2023 are summarized below.
CLASSIFICATION OF RETAILERS
The retail landscape has evolved over the years as retailers are opting to pursue an omni-channel approach to sell their products rather than sticking with mainly brick-and-mortar retail or purely online channels. The demarcation between General Merchandise Stores and Department Stores has diminished as well, since both formats are comprised of retail spaces primarily selling consumer discretionary goods. Retailers that are generating a majority of revenue or earnings from consumable staple items such as food, household, and personal care products warrant a consolidation under the Consumer Staples Sector.
Market feedback concerning the proposals for retailers was generally favorable. S&P DJI and MSCI will discontinue Internet & Direct Marketing Retail and classify companies according to the nature of goods sold, merge General Merchandise Stores and Department Stores into a new Sub-Industry called Broadline Retail, shift consumable merchandise sellers to the Consumer Staples Sector, and update the GICS nomenclature for select Retail classifications by replacing the word "Stores" with "Retail".
CLASSIFICATION OF DATA PROCESSING & OUTSOURCED SERVICES
Companies classified as Data Processing & Outsourced Services offer services either customized for select industries such as human resources or travel or to diverse industries, as is the case with transaction and payment processing companies offering payment related transaction and payment processing services by connecting consumers, financial institutions, merchants, governments, digital partners, businesses, and other organizations. These support activities are closely aligned with the business support activities covered under the Industrials Sector rather than the Information Technology Sector, and with the Financials Sector in the case of payment processors.
Market feedback concerning the proposal for Data Processing & Outsourced Services was generally favorable. Data Processing & Outsourced Services Sub-Industry under the Information Technology Sector will be discontinued and will be moved to the Industrials Sector with an updated definition. In addition, transaction and payment processing companies will be reclassified to a newly created Sub-Industry called Transaction and Payment Processing Services under the Financials Sector. Payroll processing companies will be moved to the Industrials Sector under the Human Resource & Employment Services Sub-Industry with an updated definition. Companies offering travel related data processing and outsourced services will be moved to the Consumer Discretionary Sector under the Hotels, Resorts & Cruise Lines Sub-Industry.
CLASSIFICATION OF BANKS AND THRIFTS & MORTGAGE FINANCE
The Banks Industry Group comprised of Diversified Banks, Regional Banks, and Thrifts/Savings Banks has evolved over the years with respect to the geographic footprints of these businesses, the laws governing them, and the variety of services being offered. Further, Mortgage Finance, where revenue is more fee-based than interest income based, are distinct from Banks as they mainly offer mortgage finance related products & services for commercial & residential real estate properties. In order to capture these changes, it was proposed to merge Diversified Banks, Regional Banks, and Thrifts/Savings Banks into a single Sub-Industry. And it was proposed to discontinue the Thrifts & Mortgage Finance Sub-Industry under the Banks Industry Group and create a new Commercial & Residential Mortgage Finance Sub-Industry under the Diversified Financials Industry Group (to be renamed Financial Services).
Market feedback concerning the proposal for Banks was mixed, but favorable for the Thrifts & Mortgage Finance. Most clients expressed a desire to retain a distinction between Diversified Banks and Regional Banks, although they found merit in merging Thrifts and Savings Banks into an expanded Regional Banks Sub-Industry. In addition, feedback was in favor of discontinuing the Thrifts & Mortgage Finance Sub-Industry under the Banks Industry Group and creating a new Commercial & Residential Mortgage Finance Sub-Industry under the Diversified Financials Industry Group (to be renamed Financial Services). Hence, the proposal will be partially adopted. There will be no change to the Diversified Banks Sub-Industry, Thrifts/Savings banks will be merged with Regional Banks, and the change for Thrifts and Mortgage Finance Sub-Industry will be implemented as proposed.
CLASSIFICATION OF EQUITY REAL ESTATE INVESTMENT TRUSTS (REITs)
The companies structured as REITs generally focus on distinct property types such as retail properties, data centers, telecom towers, etc., and only a small percentage of these companies invest in diverse property types.
Market feedback concerning the proposal for Equity REITs was generally favorable. Clients confirmed that there is interest in creating additional granularity for REITs to help investors track the increased specialization in the REITs space. It was proposed that Residential REITs will be split into 2 distinct Sub-Industries and Specialized REITs will be split into 5 Sub-Industries. In addition, 8 Industries for REITs and a new Industry Group for Equity REITs will be created. A new Real Estate Management & Development Industry Group and Industry will also be created. Since the consultation feedback concerning the proposals for Equity REITs was largely favorable, the changes will be implemented as proposed.
CLASSIFICATION OF TRANSPORTATION
The Trucking Sub-Industry includes a mix of companies providing cargo/goods and passenger ground transportation services. The passenger ground transportation business has evolved over the years through the development of online apps and marketplaces for taxis and on-demand ride sharing, as well as consumer bicycle and scooter rental platforms. In addition, these companies are distinct from those offering cargo/goods ground transportation services.
Market feedback supported the reasoning behind separating passenger land transportation from cargo/goods land transportation. The Trucking Sub-Industry will be split into two new Sub-Industries to be called Passenger Ground Transportation and Cargo Ground Transportation. For additional clarity, the Airlines Industry and Sub-Industry will also be renamed as Passenger Airlines to better reflect the companies classified there.
CLASSIFICATION OF RENEWABLE ENERGY COMPANIES
The consultation proposals related to the classification of renewable energy companies will not be adopted at this time. Although there is a rapid growth in investment and capacity in the renewable energy generation space that is transforming the competitive landscape of both the Energy and Utilities Sectors, with renewable energy generation sources becoming significant competitors to traditional energy source providers, feedback from clients and additional internal analysis suggests that there is not a consensus yet on how to reflect these changes in the GICS structure. It is likely that this topic will be revisited in a future structure review by S&P DJI and MSCI.
UPDATE TO GICS DEFINITION: CLASSIFICATION OF CANNABIS
The cannabis industry has expanded rapidly in recent years due to an ease in regulations and increased discovery of uses for a variety of applications. The legality of recreational usage is still inconsistent globally, whereas legal medicinal use is more widespread. Additional uses are still in a nascent stage. In addition, market feedback was also mixed and hence, the Pharmaceuticals Sub-Industry definition will not be updated at this time.
ADDITIONAL UPDATES IN SELECT GICS INDUSTRY AND SUB-INDUSTRY NAMES
Various GICS Industry and Sub-Industry names will be updated to increase clarity and consistency across the GICS structure, in addition to above changes.
The new GICS structure will consist of 11 Sectors, 25 Industry Groups, 74 Industries and 163 Sub-Industries.
For a detailed document covering the upcoming changes, please visit S&P Dow Jones Indices' web site at www.spdji.com and MSCI's web site at www.msci.com.
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji.
For more information:
S&P Dow Jones Indices:
Index_services@spglobal.com
Media Inquiries:
spdji_communications@spglobal.com
ABOUT MSCI
MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 50 years of expertise in research, data and technology, we power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. We create industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process.
For more information, visit us at www.msci.com
Sam Wang +1 212 804 5244
Melanie Blanco +1 212 981 1049
Laura Hudson +44 20 7336 9653
EMEA Client Service + 44 20 7618.2222
Americas Client Service +1 888 588 4567 (toll free)
Asia Pacific Client Service + 852 2844 9333
NOTICE AND DISCLAIMER
This document has been prepared by MSCI and S&P Dow Jones Indices LLC and its affiliates ("S&P Dow Jones Indices") solely for informational purposes. All of the information contained herein, including without limitation all text, data, graphs, charts (collectively, the "Information") is the property of MSCI, S&P Dow Jones Indices, or their respective affiliates. The Information may not be reproduced or redisseminated in whole or in part without prior written permission from MSCI and S&P Dow Jones Indices.
The Information may not be used to create derivative works or to verify or correct other data or information. For example (but without limitation), the Information may not be used to create indices, databases, risk models, analytics, software, or in connection with the issuing, offering, sponsoring, managing or marketing of any securities, portfolios, financial products or other investment vehicles utilizing or based on, linked to, tracking or otherwise derived from the Information.
The user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. NEITHER MSCI, S&P DOW JONES INDICES, S&P, NOR ANY OF THEIR RESPECTIVE AFFILIATES MAKES ANY EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE INFORMATION (OR THE RESULTS TO BE OBTAINED BY THE USE THEREOF). TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, MSCI, S&P DOW JONES INDICES, S&P AND THEIR RESPECTIVE AFFILIATES EXPRESSLY DISCLAIM ALL IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF ORIGINALITY, ACCURACY, TIMELINESS, NON-INFRINGEMENT, COMPLETENESS, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE) WITH RESPECT TO ANY OF THE INFORMATION.
Without limiting any of the foregoing and to the maximum extent permitted by applicable law, in no event shall MSCI, S&P Dow Jones Indices, S&P or any of their respective affiliates have any liability regarding any of the Information for any direct, indirect, special, punitive, consequential (including lost profits) or any other damages even if notified of the possibility of such damages.
Information containing any historical information, data or analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Past performance does not guarantee future results.
None of the Information constitutes an offer to sell (or a solicitation of an offer to buy), any security, financial product or other investment vehicle.
The Information does not, and is not intended to, recommend, endorse, approve or otherwise expresses any opinion regarding any issuer, security, financial product or trading strategy and none of the Information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
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https://www.wibw.com/prnewswire/2022/04/01/silversea-christens-silver-dawnsm-lisbon-introducing-otivm-travels-most-indulgent-new-wellness-programme/
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Silver Dawn becomes the cruise line's third new ship to debut in nine months
LISBON, Portugal, March 31, 2022 /PRNewswire/ -- Silversea Cruises, the leading ultra-luxury cruise line, officially named its 10th ship, Silver Dawn, in Lisbon on March 31. Executives from Royal Caribbean Group®, Silversea Cruises, and Fincantieri, as well as local dignitaries and esteemed guests, celebrated the milestone with a formal ceremony and gala dinner. An expression of Silversea's rapid expansion, Silver Dawn becomes the cruise line's third new ship to debut in nine months. The launch of Silver Dawn also marks the debut of Otium, travel's most indulgent new wellness programme, as well as the next iteration of Silversea's S.A.L.T. culinary programme.
Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8948652-silversea-christens-silver-dawn-in-lisbon-otivm-wellness-programme/
FIRST: THE NAMING CEREMONY MARKS SILVER DAWN'S OFFICIAL DEBUT
After Royal Caribbean Group's customary bagpipe performance, which opened the formal naming ceremony, performers took to the stage, entertaining attendees with a performance that weaved a narrative from the 2021 launch of Silver Moon to the modern day debut of Silver Dawn. Singers recited the national anthems of the U.S.A., Italy, and Portugal, before a religious leader blessed the ship and dignitaries delivered speeches. The newly named Godmother of Silver Dawn, Nilou Motamed—an influential food and travel editor, tastemaker, and television personality—subsequently cut the ribbon to trigger a champagne bottle to smash on the ship's hull, signalling the end of the ceremony.
"Celebrating the naming of Silver Dawn in Lisbon marked an incredibly proud moment for all involved," said Jason Liberty, President and CEO, Royal Caribbean Group. "I thank and congratulate Roberto Martinoli and our entire team, including Captain Failla and the crew, as well as everyone at Fincantieri, our ship building partners. Silver Dawn is a jewel in the Silversea fleet and speaks to Royal Caribbean Group's commitment to delivering the best vacation experiences in a responsible way."
"An evolution of our unique take on luxury, Silver Dawn is the third Silversea ship to be named in the last nine months," said Roberto Martinoli, President & CEO, Silversea Cruises. "As well as S.A.L.T., our immersive culinary programme, Silver Dawn enriches guests' travels with Otium, our indulgent new wellness programme, which is inspired by the ancient Roman lifestyle. She really is magnificent. I extend my gratitude to Jason Liberty and all involved at Royal Caribbean Group, as well as to the team at Silversea, Fincantieri, and Captain Failla and his crew—our most valuable asset. Moreover, I proudly welcome Nilou Motamed as the Godmother of Silver Dawn."
NILOU MOTAMED: GODMOTHER OF SILVER DAWN
An Emmy-nominated television personality and former editor-in-chief of some of the world's leading culinary brands, including Food & Wine and Epicurious, Nilou Motamed has been shaping the conversation in food and travel for more than 20 years. Born in Iran, raised in Paris and New York, Motamed is fluent in four languages — and believes "food is a language of its own, one in which everyone can find comfort, compassion, and community." Her passion for culinary adventures and far-flung cuisines has found a perfect match in Silversea's S.A.L.T. programme, which the New York resident first experienced with its launch in 2021.
"It's a great honour to have been selected as the Godmother of Silver Dawn and to have been on board for her naming ceremony in Lisbon," says Motamed. "Growing up in multiple countries has helped me recognize that one of our deepest common bonds, wherever we go, is food. Like many of Silversea's guests, I always pair my cultural explorations with culinary ones. That's why I've loved seeing the world through Silversea's S.A.L.T. programme. I've dedicated my career to celebrating authentic, local cuisines and cultures. For me, nothing is more rewarding than connecting with people over a shared meal."
"An authority in the world of food and drink, Nilou is a curious, intelligent traveller," continues Martinoli. "Her mission to delve deeper into cultures through food, to truly understand places and their people, reflects that of Silversea's culinary programme, S.A.L.T.. It is this strong spirit of discovery, this commitment to self-enrichment and complete cultural immersion, that makes Nilou the perfect Godmother for our newest ship. Aboard Silver Dawn, our guests will discover the world with purpose, while journeying in Silversea's trademark level of comfort."
SILVER DAWN AND THE OTIVM WELLNESS PROGRAMME
Silver Dawn becomes the latest ship in Silversea's popular Muse class. The most discernible difference between Silver Dawn and her sister ships, Silver Muse® and Silver MoonSM, is the new Otium wellness programme, which launches as a unique innovation. It is the only wellness programme at sea that incorporates champagne, chocolate and other gourmet snacks; signature cocktails; bespoke in-suite experiences; a Roman-influenced spa; and a wellness journey that extends throughout the ship. Grounded in the philosophy and traditions of the ancient Roman lifestyle, in which otium was a period of time dedicated exclusively to leisure, the Otium wellness programme is built on principles of indulgence, pleasure, and pampering. Spanning almost 800m2 on deck six, Silver Dawn's spa has been completely redesigned for a more seamless wellness journey.
Silver Dawn departs on her inaugural voyage on April 1, sailing from Lisbon to Barcelona. She is scheduled to sail in the Mediterranean until November, when she will cross the Atlantic Ocean, via the Canary Islands, to unlock the Caribbean and Central America for guests.
Silver Dawn's media kit:
https://www.dropbox.com/sh/fqw01ry3zal9ev0/AAB2P40-DmLY3eOO_dclyYMRa?dl=0
Otium media kit:
https://www.dropbox.com/sh/upusb70v71w576g/AADzlCltZ9j0D-tXpFvLMvgea?dl=0
Our latest blog post on Otium offers more details. Read it here:
https://discover.silversea.com/ships/silver-dawn/silver-dawn-otium-preview/
Find out more information about Silver Dawn, including her upcoming voyages:
https://www.silversea.com/ships/silver-dawn.html
About Silversea Cruises
Silversea Cruises is recognized as an innovator in the ultra-luxury cruise industry, offering guests large-ship amenities aboard its intimate, all-suite vessels: Silver Dawn, Silver Shadow®, Silver Whisper®, Silver Spirit®, Silver Muse®, and Silver MoonSM – all designed to offer an atmosphere of conviviality and casual elegance. With the inclusion of the expedition ships Silver Origin®, Silver Wind®, Silver Explorer®, and Silver Cloud®, Silversea's itineraries encompass all seven continents and feature worldwide luxury cruises to the Mediterranean, the Caribbean, the Galápagos, both Polar Regions, and hundreds of fascinating destinations in between. Silversea is also looking forward to the launch of two new ultra-luxury Nova-class ships. Browse Silversea's blog, Discover, and subscribe to receive the latest content directly into your inbox. Silversea Cruises is one of five cruise brands owned by global cruise company Royal Caribbean Group. (NYSE: RCL)
About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 61 ships traveling to more than 800 destinations around the world. Royal Caribbean Group is the owner and operator of three award winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 12 ships on order as of December 31, 2021. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.
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SOURCE Silversea Cruises
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https://www.wibw.com/prnewswire/2022/04/01/venus-medtech-announces-2021-annual-results-pacesetter-china-breakthrough-maker-worldwide/
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HANGZHOU, China, March 31, 2022 /PRNewswire/ -- On March 31, 2022, Venus Medtech (Hangzhou) Inc. (2500.HK, hereinafter referred to as "Venus Medtech"), a leading provider of integrated solutions for transcatheter structural heart valvular therapies in China, announced its annual results for the year ended December 31, 2021. According to the financial report, Venus Medtech recorded RMB416 million in sales revenue, a year-on-year increase of 50.6%. As China's dominant provider of transcatheter aortic valve replacement (TAVR) devices, Venus Medtech sustained its industry leadership in 2021, covering nearly 70% of implantations in the market.
In 2021, Venus Medtech maintained rapid growth in the Chinese market with VenusA-Valve and VenusA-Plus, the earliest first-generation and second-generation TAVR products approved for marketing in China, which were applied in 3,600 procedures last year. The two products have covered 360 hospitals and medical centers nationwide, from which a wealth of clinical follow-up data was gathered, sufficiently testifying to their safety and effectiveness. In particular, VenusA-Valve is currently the only TAVR product with long-term safety verification for more than six years in China.
Venus Medtech boasts a best-in-class innovative cardiovascular device marketing team, which has by now expanded to 220 members. In 2021, the Company supported more than 60 free treatment events, engaging 300+ doctors and benefitting 2,000+ patients. These charitable endeavors made Venus Medtech the only high-value medical consumables company to win the Corporate Public Welfare Contribution Pioneer Award of Qingsongchou in 2021. In addition, Venus Medtech enjoys an efficient logistics team to ensure the safe and timely delivery of medical devices and subsequent procedures.
As one of the first domestic players to provide transcatheter structural heart valvular therapies, Venus Medtech has been expanding its global presence at a robust pace while keeping its leading position in commercialization in China. In 2021, Venus Medtech registered RMB10.51 million in overseas revenue, a marked year-on-year increase of 160.5%, with the sales of TriGUARD3™ cerebral embolic protection (CEP) device.
Europe is the bridgehead of Venus Medtech's international strategy. To build a winning commercialization team for the European market, the Company engaged marketing veterans like David Breant and Shakeel Osman as senior managers, laying a solid foundation for the upcoming launch of VenusP-Valve, its new transcatheter pulmonic valve replacement (TPVR) system. VenusP-Valve passed the CE MDR qualification audit in 2021 and is right now under certification management review. It is expected to become the first Chinese valve product approved in the EU and generate considerable overseas revenue in 2022. In March 2021, VenusP-Valve received special use authorization in the UK to enter the market in advance, which amply proved the urgent needs of patients for the product.
Continuous development and acquisition of innovative therapies have enabled Venus Medtech to establish a series of new product pipelines in developed markets as Europe and America. The Company announced the acquisition of Cardiovalve, an Israel-based high-tech company specializing in innovative therapies for mitral regurgitation and tricuspid regurgitation, in December 2021, and completed the acquisition in January 2022. Cardiovalve is the only FDA-approved device for treating both mitral regurgitation and tricuspid regurgitation, and has received the FDA Breakthrough Device Designation for its transcatheter tricuspid valve replacement system. The product is expected to commence clinical trials in China this year, bringing innovative solutions to domestic patients.
Furthermore, a number of globally cutting-edge products started their clinical trials in 2021, including the Liwen RF™ radiofrequency ablation system for treating hypertrophic cardiomyopathy (HCM), new-generation TAVR products Venus-PowerX and Venus Vitae for treating aortic valve stenosis, and a renal denervation system for treating resistant hypertension. In 2022, Venus Medtech aims to advance the clinical progress of the above products in China as well as developed countries in Europe and America.
"2021 marked the beginning of our global journey", said Eric Zi, Co-Founder, Executive Director, and General Manager of Venus Medtech. "Our progress has been impressive. Looking ahead, we will make more determined efforts to create innovative products with global influence and develop unprecedented, ground-breaking technologies in China and beyond, thereby translating our strategic vision to build a comprehensive platform for structural heart disease into reality."
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https://www.wibw.com/prnewswire/2022/04/01/western-forest-products-inc-announces-release-date-first-quarter-2022-results-conference-call-details/
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TSX: WEF
VANCOUVER, BC, March 31, 2022 /PRNewswire/ - Western Forest Products Inc. (TSX: WEF) ("Western" or the "Company") first quarter 2022 financial and operating results will be released on Wednesday, May 4, 2022.
Western will host its first quarter 2022 analyst conference call on Thursday, May 5, 2022 at 12:00 p.m. PDT (3:00 p.m. EDT).
Don Demens, President and Chief Executive Officer, and Stephen Williams, Executive Vice President and Chief Financial Officer, will discuss the Company's first quarter 2022 results followed by a question and answer session with the analyst community.
To join the conference call, dial:
Toll-free from Canada and the US: 1-800-952-5114
From Toronto: 416-340-2217
Passcode: 3466690#
To access the instant replay of the call, dial:
Toll-free from Canada and the US: 1-800-408-3053
From Toronto: 905-694-9451
Passcode: 1910899#
The instant replay will be available until June 5, 2022 at 8:59 p.m. PDT (11:59 p.m. EDT).
About Western Forest Products Inc.
Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity in excess of 1.0 billion board feet from seven sawmills and four remanufacturing facilities. The Company sources timber from its private lands, long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.
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SOURCE Western Forest Products Inc.
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https://www.wibw.com/prnewswire/2022/04/01/world-renowned-celebrity-photographer-nicolas-gerardin-signs-with-artm-technologies/
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Luxury NFT firm teams up with a world-leading photographer.
SINGAPORE, March 31, 2022 /PRNewswire/ -- World-renowned photographer Nicolas Gerardin has partnered with pioneering platform 1of1 and ARTM Technologies to produce luxury NFTs based on his photography.
The NFTs will include rare and famous images by the French photographer who works with the world's top celebrities, including Cristiano Ronaldo, Jonas Brothers, Priyanka Chopra, Donatella Versace, James Franco, Daniel Radcliffe, Kendall Jenner, Lewis Hamilton, Karim Benzema, Paulo Dybala, Sofia Carson, and many more.
Gerardin's photographs have appeared on the front covers of leading international magazines and were recently hailed by Georgina Rodríguez in the Netflix special 'I am Georgina.' as "the best photographer in Europe."
1of1 is the first official luxury NFT platform for pioneering tech firm ARTM Technologies. It has already established numerous global partnerships with international luxury brands. ARTM is an ERC-20 token used to unlock NFTs, video streaming, metaverse, and gaming add-ons.
Co-Founder Craig Allard shared,
"We are very excited to be linking up with such an internationally-acclaimed photographer. His client list speaks for itself, and we can't wait to see what can be achieved in partnership with our 1of1 luxury NFTs. These will be based on his photographs, including some of his rare work and his more famous pieces. Some will involve experiences and special access to events and celebrities. Our pioneering technology is already changing the world of NFTs, leveraging blockchain technology with new use cases. This latest partnership will add another element to our work, and we look forward to announcing more details in due course."
Notes to editors:
For more information on Nicolas Gerardin and to see more of his work, visit:
https://www.instagram.com/nicolasgerardin/
http://www.nicolasgerardin.com/
For more information on 1of1, visit: https://1of1.biz/
For more information on ARTM, visit: https://getartm.io/
Media Contact: info@getartm.io
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SOURCE ARTM Technologies LLC
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https://www.wibw.com/prnewswire/2022/04/01/xinhua-silk-road-chinas-chongqing-ftz-magnet-foreign-investment-amid-opening-up/
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BEIJING, March 31, 2022 /PRNewswire/ -- Five years on, the China (Chongqing) Pilot Free Trade Zone (Chongqing FTZ) in southwest China's Chongqing Municipality has seen practical and innovative achievements of opening-up, according to Li Xunfu, an official with Chongqing Municipal Commission of Commerce at a press conference held on Thursday marking the five-year anniversary of the FTZ's establishment.
Focusing on the opening-up of its advantageous industries including electronic information, intelligent equipment, biological medicine and logistics services, the Chongqing FTZ has made continuous efforts to strengthen industrial chains development.
The Xiyong sector of the FTZ has attracted over 20 renowned chips manufacturers such as Intel, SK Hynix, United Microelectronics Center and China Resources Microelectronics Limited, striving to forge an important R&D and manufacturing base of semiconductor and integrated circuit.
Supported by five major car manufacturers including Changan Auto, Beijing Hyundai, Jinkang New Energy Automobile Co., Ltd., Ruichi Automobiles and SAIC-GM-Wuling Automobile, the FTZ's Jiangbei sector has introduced over 80 world famous auto parts producers, with an integrated automobile industry chain taking shape.
The Jiulongpo sector of the Chongqing FTZ has developed full-stage aluminum deep processing service covering material preparation, processing, manufacturing and application. The Shapingba sector has formed three service systems each featuring global trade, railway logistics and supply chain finance.
In terms of building up R&D capacity, the FTZ's Liangjiang New Area sector has established 19 R&D platforms of national level and 378 of municipal level. The Xiyong sector is now home to a national-level manufacturing innovation center, 21 municipal-level laboratories and innovation centers, 128 enterprises featuring R&D, five new R&D institutions and 34 high-tech firms.
In addition, the Chongqing FTZ has been continuously optimizing business environment through promotion of online customs service and trade facilitation measures centering on building of single-window system. The FTZ has attracted over 35 percent of Chongqing's foreign direct investment in the past five years, contributing around 70 percent of the city's foreign trade volume.
Established on April 1, 2017, the Chongqing FTZ has a total land area of 119.98 square kilometers covering nine sectors of Liangjiang New Area, Yuzhong, Jiangbei, Shapingba, Jiulongpo, Nan'an, Beibei, Yubei and Xiyong.
Original link: https://en.imsilkroad.com/p/327147.html
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SOURCE Xinhua Silk Road
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https://www.wibw.com/2022/04/01/closing-arguments-next-michigan-gov-whitmer-kidnap-plot/
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Closing arguments next in Michigan Gov. Whitmer kidnap plot
(AP) - Jurors will hear closing arguments Friday in the trial of four men accused of a brazen conspiracy to kidnap Michigan Gov. Gretchen Whitmer, a case built with informants, undercover agents, secret recordings and two people who pleaded guilty and cooperated.
Only one defendant, Daniel Harris, chose to testify in his own defense. But his denial of any crime Thursday was met by an aggressive cross-examination in which prosecutors used his own words to show his contempt for Whitmer and even suggestions about how to kill her.
Adam Fox, Barry Croft Jr. and Brandon Caserta declined to testify, and defense attorneys called only a few witnesses. The four deny any scheme to get Whitmer at her vacation home in fall 2020, though they were livid with government as well as restrictions imposed during the COVID-19 pandemic.
The men were arrested in October 2020 amid talk of raising $4,000 for an explosive that could blow up a bridge and stymie police after a kidnapping, according to trial evidence. Fox twice traveled to northern Michigan to scout the area.
Defense attorneys, however, insist they were under the spell of informants and agents who got them to say and do violent, provocative things.
Harris repeatedly answered “absolutely not” when asked by his lawyer if he was part of a plot. His testimony was perilous because he exposed himself to numerous challenges by prosecutors who had been offering evidence against the group for days.
Harris and Assistant U.S. Attorney Jonathan Roth sometimes talked over each other. At one point, Harris snapped, “Next question.”
“Everyone can take it down a notch,” U.S. District Judge Robert Jonker said later.
Roth confronted Harris with his own chat messages about posing as a pizza deliveryman and killing Whitmer at her door. He reminded Harris, a former Marine, that he worked with explosives while training with the group, especially in Luther, Michigan, in September 2020, about a month before their arrest.
Roth played a conversation of Croft talking about militias overthrowing governments in various states and “breaking a few eggs” if necessary.
“When this man talks to you at a diner about killing people, you don’t stand up and walk out, do you sir?” Roth asked. “You don’t say, ‘This group is not for me,’ do you sir?”
“No,” Harris answered.
A “shoot house” that was intended to resemble Whitmer’s second home was a key part of the Luther training weekend, according to the government. Harris admitted that he brought materials but said he didn’t build it with her house in mind.
He didn’t participate in an evening ride to Elk Rapids, Michigan, to scout Whitmer’s home and a bridge during that same weekend. Harris said he had purchased $200 of cheap beer and cigarettes so he could return to the camp and “get wasted” with others.
Two more men, Ty Garbin and Kaleb Franks, pleaded guilty and cooperated with investigators. Garbin last week said the group acted willingly and hoped to strike before the election, cause national chaos and prevent Joe Biden from winning the presidency.
Whitmer, a Democrat, rarely talks publicly about the kidnapping plot, though she referred to “surprises” during her term that seemed like “something out of fiction” when she filed for reelection on March 17.
She has blamed former President Donald Trump for fomenting anger over coronavirus restrictions and refusing to condemn right-wing extremists like those charged in the case. Whitmer has said Trump was complicit in the Jan. 6 Capitol riot.
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Find AP’s full coverage of the Whitmer kidnap plot trial at: https://apnews.com/hub/whitmer-kidnap-plot-trial
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White reported from Detroit.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/2022/04/01/hospital-borrows-athletics-with-signing-ceremony-nursing-students/
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Hospital borrows from athletics with ‘signing ceremony’ for nursing students
TOPEKA, Kan. (WIBW) - A Topeka hospital welcomed new recruits to its team Thursday with a signing ceremony.
The University of Kansas Health System St. Francis Campus held a March Madness-themed hiring fair.
In keeping with the theme, they held a ‘signing’ for Washburn University nursing students Makenzie Koranda and Eugie Jang. The two will share a $9,000 scholarship; be able to work at the hospital while they finish class; and have jobs waiting for them when they graduate.
Koranda said the scholarship money is a big relief that will allow her to focus on her studies. She comes from a family of nurses.
“The thought of being around people and getting the opportunity to take care of them when they are at their weakest point is very exciting for me - to know that I can help them get through that,” she said.
Steven Anderson, TUKHS St. Francis CEO, said the two will join a team of some 500 nurses, who he praised for serving patients with love and compassion.
“It’s wonderful to see new students and the new graduates come and join us,” he said. “They’re very excited to begin their career. They bring a lot of great energy to us, and so we’re just thrilled to have any new nursing graduates who are out there.”
TUKHS St. Francis has more than 100 openings right now.
The scholarships were awarded in partnership with the Kansas Board of Regents.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/russians-leave-chernobyl-ukraine-braces-renewed-attacks/
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Russians leave Chernobyl; Ukraine braces for renewed attacks
KYIV, Ukraine (AP) — Russian troops left the heavily contaminated Chernobyl nuclear site early Friday after returning control to the Ukrainians, authorities said, as eastern parts of the country braced for renewed attacks and Russians blocked another aid mission to the besieged port city of Mariupol.
Ukraine’s state power company, Energoatom, said the pullout at Chernobyl came after soldiers received “significant doses” of radiation from digging trenches in the forest in the exclusion zone around the closed plant. But there was no independent confirmation of that.
The exchange of control happened amid growing indications the Kremlin is using talk of de-escalation in Ukraine as cover to regroup, resupply its forces and redeploy them for a stepped-up offensive in the eastern part of the country.
GRAPHIC WARNING: Videos in this story may contain disturbing content.
Ukrainian President Volodymyr Zelenskyy warned that Russian withdrawals from the north and center of the country were just a military tactic to build up forces for new powerful attacks in the southeast. A new round of talks between the countries was scheduled Friday, five weeks into a conflict that has left thousands dead and driven 4 million Ukrainians from the country.
“We know their intentions,” Zelenskyy said in his nightly video address to the nation. “We know that they are moving away from those areas where we hit them in order to focus on other, very important ones where it may be difficult for us.”
“There will be battles ahead,” he added.
Meanwhile in Mariupol, Russian forces blocked a convoy of 45 buses attempting to evacuate people after the Russian military agreed to a limited cease-fire in the area. Only 631 people were able to get out of the city in private cars, according to the Ukrainian government.
Russian forces also seized 14 tons of food and medical supplies in a dozen buses that were trying to make it to Mariupol, Deputy Prime Minister Iryna Vereshchuk said.
The city has been the scene of some of the worst suffering of the war. Tens of thousands have managed to get out in the past few weeks by way of humanitarian corridors, reducing the population from a prewar 430,000 to an estimated 100,000 by last week, but other relief efforts have been thwarted by continued Russian attacks.
The International Atomic Energy Agency said it had been informed by Ukraine that the Russian forces at the site of the world’s worst nuclear disaster had transferred control of it in writing to the Ukrainians. The last Russian troops left early Friday, the Ukrainian government agency responsible for the exclusion zone said.
Energoatom gave no details on the condition of the soldiers it said were exposed to radiation and did not say how many were affected. There was no immediate comment from the Kremlin, and the IAEA said it had not been able to confirm the reports of Russian troops receiving high doses. It said it was seeking more information.
Russian forces seized the Chernobyl site in the opening stages of the Feb. 24 invasion, raising fears that they would cause damage or disruption that could spread radiation. The workforce at the site oversees the safe storage of spent fuel rods and the concrete-entombed ruins of the reactor that exploded in 1986.
Edwin Lyman, a nuclear expert with the U.S.-based Union of Concerned Scientists, said it “seems unlikely” a large number of troops would develop severe radiation illness, but it was impossible to know for sure without more details.
He said contaminated material was probably buried or covered with new topsoil during the cleanup of Chernobyl, and some soldiers may have been exposed to a “hot spot” of radiation while digging. Others may have assumed they were at risk too, he said.
Early this week, the Russians said they would significantly scale back military operations in areas around Kyiv and the northern city of Chernihiv to increase trust between the two sides and help negotiations along.
But in the Kyiv suburbs, regional governor Oleksandr Palviuk said on social media Thursday that Russian forces shelled Irpin and Makariv and that there were battles around Hostomel. Ukrainian forces counterattacked and some Russian withdrawals around the suburb of Brovary to the east, Pavliuk said.
At a Ukrainian military checkpoint outside Kyiv, soldiers and officers said they don’t believe Russian forces have given up on the capital.
“What does it mean, significantly scaling down combat actions in the Kyiv and Chernihiv areas?” asked Brig. Gen. Valeriy Embakov. “Does it mean there will be 100 missiles instead of 200 missiles launched on Kyiv or something else?”
Chernihiv came under attack as well. At least one person was killed and four were wounded in the Russian shelling of a humanitarian convoy of buses sent to Chernihiv to evacuate residents cut off from food, water and other supplies, said Ukrainian Human Rights Commissioner Lyudmyla Denisova.
Elsewhere, Ukraine reported Russian artillery barrages in and around the northeastern city of Kharkiv.
Ukraine’s emergency services also said the death toll had risen to 20 in a Russian missile strike Tuesday on a government administration building in the southern city of Mykolaiv.
NATO Secretary-General Jens Stoltenberg said intelligence indicates Russia is not scaling back its military operations in Ukraine but is instead trying to regroup, resupply its forces and reinforce its offensive in the Donbas.
“Russia has repeatedly lied about its intentions,” Stoltenberg said. At the same time, he said, pressure is being kept up on Kyiv and other cities, and “we can expect additional offensive actions bringing even more suffering.”
The Donbas is the predominantly Russian-speaking industrial region where Moscow-backed separatists have been battling Ukrainian forces since 2014. In the past few days, the Kremlin, in a seeming shift in its war aims, said that its “main goal” now is gaining control of the Donbas, which consists of the Donetsk and Luhansk regions, including Mariupol.
The top rebel leader in Donetsk, Denis Pushilin, issued an order to set up a rival city government for Mariupol, according to Russian state news agencies, in a sign of Russian intent to hold and administer the city.
With talks set to resume between Ukraine and Russia via video, there seemed little faith that the two sides would resolve the conflict any time soon.
Russian President Vladimir Putin said that conditions weren’t yet “ripe” for a cease-fire and that he wasn’t ready for a meeting with Zelenskyy until negotiators do more work, Italian Premier Mario Draghi said after a telephone conversation with the Russian leader.
As Western officials search for clues about what Russia’s next move might be, a top British intelligence official said demoralized Russian soldiers in Ukraine are refusing to carry out orders and sabotaging their equipment and had accidentally shot down their own aircraft.
U.S. intelligence officials have concluded that Putin is being misinformed by his advisers about how badly the war is going because they are afraid to tell him the truth.
Kremlin spokesman Dmitry Peskov said that the U.S. is wrong and that “neither the State Department nor the Pentagon possesses the real information about what is happening in the Kremlin.”
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Karmanau reported from Lviv, Ukraine. Associated Press journalists around the world contributed to this report.
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Follow the AP’s coverage of the war at https://apnews.com/hub/russia-ukraine
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/2022/04/01/house-passes-35-a-month-insulin-cap-dems-seek-wider-bill/
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House passes $35-a-month insulin cap as Dems seek wider bill
WASHINGTON (AP) — The House has passed a bill capping the monthly cost of insulin at $35 for insured patients, part of an election-year push by Democrats for price curbs on prescription drugs at a time of rising inflation.
Experts say the legislation, which passed 232-193 Thursday, would provide significant relief for privately insured patients with skimpier plans and for Medicare enrollees facing rising out-of-pocket costs for their insulin. Some could save hundreds of dollars annually, and all insured patients would get the benefit of predictable monthly costs for insulin. The bill would not help the uninsured.
But the Affordable Insulin Now Act will serve as a political vehicle to rally Democrats and force Republicans who oppose it into uncomfortable votes ahead of the midterms. For the legislation to pass Congress, 10 Republican senators would have to vote in favor. Democrats acknowledge they don’t have an answer for how that’s going to happen.
“If 10 Republicans stand between the American people being able to get access to affordable insulin, that’s a good question for 10 Republicans to answer,” said Rep. Dan Kildee, D-Mich., a cosponsor of the House bill. “Republicans get diabetes, too. Republicans die from diabetes.”
Public opinion polls have consistently shown support across party lines for congressional action to limit drug costs.
But Rep. Cathy McMorris Rodgers, R-Wash., complained the legislation is only “a small piece of a larger package around government price controls for prescription drugs.” Critics say the bill would raise premiums and fails to target pharmaceutical middlemen seen as contributing to high list prices for insulin.
Sen. Chuck Grassley, R-Iowa, said Democrats could have a deal on prescription drugs if they drop their bid to authorize Medicare to negotiate prices. “Do Democrats really want to help seniors, or would they rather have the campaign issue?” Grassley said.
The insulin bill, which would take effect in 2023, represents just one provision of a much broader prescription drug package in President Joe Biden’s social and climate legislation.
In addition to a similar $35 cap on insulin, the Biden bill would authorize Medicare to negotiate prices for a range of drugs, including insulin. It would penalize drugmakers who raise prices faster than inflation and overhaul the Medicare prescription drug benefit to limit out-of-pocket costs for enrollees.
Biden’s agenda passed the House only to stall in the Senate because Democrats could not reach consensus. Party leaders haven’t abandoned hope of getting the legislation moving again, and preserving its drug pricing curbs largely intact.
The idea of a $35 monthly cost cap for insulin actually has a bipartisan pedigree. The Trump administration had created a voluntary option for Medicare enrollees to get insulin for $35, and the Biden administration continued it.
In the Senate, Republican Susan Collins of Maine and Democrat Jeanne Shaheen of New Hampshire are working on a bipartisan insulin bill. Georgia Democratic Sen. Raphael Warnock has introduced legislation similar to the House bill, with the support of Sen. Majority Leader Chuck Schumer of New York.
Stung by criticism that Biden’s economic policies spur inflation, Democrats are redoubling efforts to show how they’d help people cope with costs. On Thursday, the Commerce Department reported a key inflation gauge jumped 6.4% in February compared with a year ago, the largest year-over-year rise since January 1982.
But experts say the House bill would not help uninsured people, who face the highest out-of-pocket costs for insulin. Also, people with diabetes often take other medications as well as insulin. That’s done to treat the diabetes itself, along with other serious health conditions often associated with the disease. The House legislation would not help with those costs, either. Collins says she’s looking for a way to help uninsured people through her bill.
About 37 million Americans have diabetes, and an estimated 6 million to 7 million use insulin to keep their blood sugars under control. It’s an old drug, refined and improved over the years, that has seen relentless price increases.
Steep list prices don’t reflect the rates insurance plans negotiate with manufacturers. But those list prices are used to calculate cost-sharing amounts that patients owe. Patients who can’t afford their insulin reduce or skip doses, a strategy born of desperation, which can lead to serious complications and even death.
Economist Sherry Glied of New York University said the market for insulin is a “total disaster” for many patients, particularly those with skimpy insurance plans or no insurance.
“This will make private insurance for people with diabetes a much more attractive proposition,” said Glied.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/2022/04/01/14m-jury-award-protesters-could-resonate-around-us/
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$14M jury award for protesters could resonate around US
DENVER (AP) — A federal jury’s $14 million award to Denver protesters hit with pepper balls and a bag filled with lead during 2020 demonstrations over the police killing of George Floyd in Minneapolis could resonate nationwide as courts weigh more than two dozen similar lawsuits.
The jury found police used excessive force against protesters, violating their constitutional rights, and ordered the city of Denver to pay 12 who sued.
Nationwide, there are at least 29 pending lawsuits challenging law enforcement use of force during the 2020 protests, according to a search of the University of Michigan’s Civil Rights Litigation Clearinghouse.
The verdict in Denver could give cities an incentive to settle similar cases rather than risk going to trial and losing, said Michael J. Steinberg, a professor at the University of Michigan Law School and director of the Civil Rights Litigation Initiative. It could also prompt more protesters to sue over their treatment at the hands of police.
“There’s no doubt that the large jury verdict in Denver will influence the outcome of pending police misconduct cases brought by Black Lives Matter protesters across the country,” said Steinberg, whose law students have been working on a similar lawsuit brought by protesters in Detroit.
Lawyers for the claimants argued that police used indiscriminate force against the nonviolent protesters, including some who were filming the demonstrations, because officers did not like their message critical of law enforcement.
“To the protest of police violence they responded with brutality,” one of their attorneys, Timothy Macdonald, told jurors.
People who took part in the protests have already made similar allegations in lawsuits filed across the country.
In Washington, DC, activists and civil liberties groups sued over the forcible removal of protesters before then-President Donald Trump walked to a church near the White House for a photo op. The claims against federal officials were dismissed last year but a judge allowed the case against local police to continue.
Several lawsuits alleging protesters were wrongfully arrested or that police used excessive force have been filed against New York City and its police department, including one brought by New York Attorney General Letitia James that claims police used excessive force and wrongfully arrested protesters. In Rochester, New York, people who protested the death of Daniel Prude, a Black man who lost consciousness after being pinned to the street by officers during a mental health call in 2020, claim police used extreme force against them in a lawsuit that also alleges city officials have allowed a culture of police brutality against racial minorities to fester.
One of their attorneys, Donald Thompson, said he plans to raise the Denver award in settlement talks with the city and note that unlike most of the Denver protesters, some of his clients suffered lasting injuries including the loss of an eye and scarring from being hit in the face with a tear gas canister. Thompson also thinks the Denver verdict shows that the public, in the age of cellphone and body camera videos, is not as willing to give police the benefit of the doubt anymore.
“Now people see how this policing really works. You can’t be naïve,” he said.
A spokesperson for Rochester did not return a call and an email seeking comment. When the case was filed, the city said it had already revised the way police responds to protests.
Over the last two months, the city of Austin, Texas has agreed to pay a total of $13 million to four people who were hit in the head with bean bag rounds fired by police.
Even before the Denver ruling last week, the police department made some changes in response to criticism that arose from the protests, including eliminating the use of 40mm foam rounds for crowd control and changing the way officers are permitted to use pepper balls.
Denver’s Department of Public Safety, which includes the police department, said in a statement that the city was not prepared for the level of sustained violence and destruction. During the trial, lawyers and witnesses said over 80 officers were injured as some in the crowds hurled rocks, water bottles and canned food at them.
The department said it continues to evaluate its policies to “better protect peaceful protestors while addressing those who are only there to engage in violence.”
Still, the large award is not expected to lead to an overhaul of how officers respond to what experts say are inherently chaotic situations that are difficult to prepare for.
Ed Obayashi, a use-of-force consultant to law enforcement agencies and a deputy sheriff and legal adviser in Plumas County, California, said society may have to bear the cost of such settlements because innocent people can be injured during protests as outnumbered police try to react on the fly, including to people intent on violence.
“It really goes south in an instant because there are individuals out there who want to cause chaos,” he said.
Obayashi said there is not much police training for protests, which have been relatively rare. He said it would be prohibitively expensive to have officers practice deploying equipment such as tear gas canisters. Because projectiles used in crowds and considered “less lethal” by police, such as rubber bullets and pepper balls, have less velocity and less power to hurt people, it is harder to ensure they hit their intended target, he said.
Lawyers representing people who have also alleged police misconduct and violation of their constitutional right to protest can now use the Denver damage award as part of their own settlement negotiations, said Mark Silverstein, legal director of the American Civil Liberties Union, which represented some of the winning Denver protesters.
The decision came nearly two years after thousands of people angry about Floyd’s death took the streets nationwide, a relatively quick result for the legal system and soon enough for others who allege misconduct by police to file a claim. In Colorado and many other states, there is a two-year statute of limitations for such lawsuits Silverstein said, leaving only a few months for others to sue.
The city attorney’s office said it has not decided whether to appeal the verdict, but appeals in such big cases are common, said Gloria Browne-Marshall, a professor at John Jay College of Criminal Justice. Outside lawyers will also scrutinize the case to try to determine if there are unique circumstances that may have led to a “lightning in a bottle” verdict that is less likely to be repeated.
However, she thinks the verdict sends a significant message that regular people respect the right of protest and demand change from the government, which she believes police and prosecutors have been undermining.
“It should send a message to both, but whether or not they listen is a different issue,” Browne-Marshall said.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/prnewswire/2022/03/31/well-health-achieves-record-results-reflecting-573-yoy-revenue-growth-positive-net-income-q4-2021/
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We are advised by WELL Health Technologies Corp. that -- The Company notes that in the prior version of this press release, Adjusted EBITDA attributable to WELL shareholders for Q4 2021 and full year 2021, and Adjusted EBITDA attributable to non-controlling interests for Q4 2021 and full year 2021 were inadvertently understated. The correct values, provided in the table at the bottom of the press release, demonstrate better performance than previously stated. There were no other changes to the press release presented below.
WELL Health Achieves Record Results Reflecting 573% YoY Revenue Growth and Positive Net Income in Q4-2021
- WELL reported record quarterly revenues of $115.7 million in Q4-2021 representing a 573% year-over-year (YoY) increase compared to Q4-2020. WELL's annual revenue for 2021 was $302.3 million, an increase of 502% compared to the prior year.
- WELL achieved Adjusted EBITDA(2) of $25.7 million in Q4-2021, an increase of 324% as compared to Adjusted EBITDA(2) of $0.8 million for Q4-2020.
- WELL reported Adjusted Net Income(3) of $5.3 million in Q4-2021, and positive Net Income of $0.7 million for Q4-2021.
- WELL delivered 700,359 total omni-channel patient visits in Q4-2021, representing a YoY increase of 123%. When combined with our asynchronous visits, the total number of visits was 972,740.
- Circle Medical and Wisp continued to grow rapidly and are expected to achieve an annualized revenue run-rate of better than US$80 million in March 2022.
- WELL provides strong outlook with total 2022 revenue expected to exceed $500 million, and the Company expects to be profitable for the full year of 2022, on an Adjusted Net Income(3) basis.
VANCOUVER, BC, March 31, 2022 /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) (the "Company" or "WELL"), a company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, today announced its audited consolidated annual financial results and results for the fiscal fourth quarter ended December 31, 2021.
Hamed Shahbazi, CEO and Founder of WELL commented, "We are very pleased with our fourth quarter and full year results for 2021, delivering close to one million patient-visits and asynchronous consultations. Last year was a transformational year for WELL, as we completed substantial acquisitions including CRH Medical and MyHealth, as well as a number of tuck-in acquisitions, which catapulted the Company to an over $460 million annualized revenue run-rate and an Adjusted EBITDA run-rate of over $100 million. We have added significant scale to our business and increased our leadership position as the prominent end-to-end healthcare company in Canada. Also, WELL is a profitable business that is generating significant free cash flow to fund its organic and in-organic growth."
Mr. Shahbazi added, "Our outlook for 2022 remains strong and resilient. The capital WELL generates will continue to be allocated in a disciplined manner, which may come in the form of further acquisitions, share repurchases, or to accelerate organic growth. We are looking forward to continuing to deliver strong results in the next few quarters, with sustained organic growth."
- Total revenue for the year ended December 31, 2021 was $302.3 million, compared to total revenue of $50.2 million for the prior year, an increase of 502% driven by acquisitions during the past year and organic growth.
- WELL achieved Virtual Services revenues of $75.6 million for the year ended December 31, 2021, representing an increase of 460% as compared to Virtual Services revenue of $13.5 million in the prior year
- WELL achieved record Adjusted Gross Profit(1) of $153.7 million, representing 624% growth compared to Adjusted Gross Profit(1) of $21.2 million in the prior year. WELL achieved record Adjusted Gross Margin(1) percentage of 50.8% for the year ended December 31, 2021 compared to Adjusted Gross Margin(1) percentage of 42.2% in the prior year. The increase in Adjusted Gross Margin(1) percentage is mainly due to the addition of higher margin CRH, MyHealth and other new Virtual services revenue over the past year.
- Adjusted EBITDA(2) was $60.4 million for the year ended December 31, 2021, compared to Adjusted EBITDA(2) of $0.2 million in the prior year.
- Adjusted Net Income(3) was $16.0 million, or $0.08 per share, for the year ended December 31, 2021, compared to Adjusted Net Loss(3) of $1.3 million, or a loss of $0.01 per share in the prior year.
- WELL achieved record quarterly revenue of $115.7 million in Q4-2021, compared to revenue of $17.2 million generated during Q4-2020, an increase of 573% driven by acquisitions during the past year and organic growth.
- WELL achieved Virtual Services revenues of $31.3 million in Q4-2021, representing 354% YoY growth as compared to Virtual Services revenue of $6.9 million in Q4-2020.
- WELL achieved record Adjusted Gross Profit(1) of $63.5 million in Q4-2021, representing 693% YoY growth as compared to Adjusted Gross Profit(1) of $8.0 million in Q4-2020. WELL achieved record Adjusted Gross Margin(1) percentage of 54.9% during Q4-2021 compared to Adjusted Gross Margin(1) percentage of 46.5% in Q4-2020.
- Adjusted EBITDA(2) was $25.7 million for Q4-2021, compared to Adjusted EBITDA(2) of $0.8 million for Q4-2020. Adjusted EBITDA(2) was positively impacted in the quarter by WELL's recent acquisitions.
- Adjusted Net Income(3) was $5.3 million, or $0.03 per share, for the quarter ended December 31, 2021, compared to Adjusted Net Income(3) of $2.4 million, or $0.02 per share in Q4-2020.
Total omni channel patient visits in Q4-2021 increased by 121% to 700,359 compared to Q4-2020 and reflected a 20% increase as compared to Q3-2021. In addition, MyHealth conducted 146,116 diagnostic visits in Q4-2021, while Wisp completed 126,265 asynchronous patient consultations. Combining WELL's omni-channel patient visits, MyHealth's diagnostic visits and Wisp's asynchronous patient consultations, WELL achieved a total of 972,740 patient interactions in Q4-2021, representing an annual run-rate of 3.89 million patient interactions.
On October 1, 2021, the Company completed the previously announced acquisition of a majority interest in Wisp for a total consideration of approximately US$41.3 million, which includes a future conditional earn-out on operating performance of up to approximately US$7.4 million.
On October 7, 2021, WELL's CRH subsidiary completed a majority stake acquisition of a 51% interest in Pinellas County Anesthesia Associates, LLC, a gastroenterology anesthesia services provider in Florida. The purchase consideration, paid via cash, for the acquisition of the Company's interest was US$9.2 million.
On November 1, 2021, the Company completed the acquisitions of Uptown Medical and Uptown Allied, consisting of two medical clinics and one allied health clinic in the greater Toronto area. Total purchase consideration was $1.4 million.
On November 1, 2021, the Company completed the acquisition of AwareMD, an enterprise class EMR provider with a focus on cardiology in addition to other disease specialties including radiology, endocrinology, and rheumatology. Total consideration paid for Aware MD was $4.5 million, including a conditional earn-out of up to $3.5 million.
On November 25, 2021, the Company completed a bought deal public offering of $70 million aggregate principal amount of convertible senior unsecured debentures of the Company due December 31, 2026 at a price of $1,000 per Debenture, including $5 million aggregate principal amount of Debentures issued pursuant to the over-allotment option which was exercised in full.
On December 1, 2021, the Company completed the acquisition of CognisantMD whose Ocean platform is the category leader in digital patient engagement technology and eReferral software in Canada. Ocean's platform supports over 8,000 physicians, and approximately 35,000 referrals and consults are sent electronically through the platform monthly. Total consideration paid by WELL in connection with the acquisition of CognisantMD was approximately $17.6 million with an additional performance based earn-out of up to approximately $7.0 million.
On February 14, 2022, WELL's wholly owned subsidiary Adracare, met all provincial requirements as part of the validation process to be a verified vendor for virtual care in Ontario. The year-long process required Adracare to demonstrate that its solution met Ontario Health's standards with respect to privacy, security, technology, and functionality. As a result, Adracare is listed on Ontario Health's site as one of few fully validated vendors for virtual care in Ontario.
On March 7, 2022, the Company, via a subsidiary, entered into an asset contribution and exchange agreement to acquire a 100% interest in GCAA, a gastroenterology anesthesia services provider in Connecticut, USA. The purchase consideration, to be paid via cash and holdback liability, for the acquisition of the Company's 100% interest will be US$12.5 million and is expected to generate more than US$3M in shareholder EBITDA.
WELL has exceeded its previously announced goal of donating $100,000, through a $50,000 corporate donation, and a donation matching program between WELL team members and WELL's CEO. The donations will contribute towards efforts to support the millions of Ukrainian children in immediate danger. Furthermore, WELL is committed to working with Canadian authorities on supporting Ukrainians fleeing the war, with opportunities to work within our Canadian operations.
WELL's outlook remains very positive across all the business units and for the entire Company as a whole. The Company's organic growth coupled with its continued focus on tuck-in acquisitions is expected to catapult WELL's revenue to exceed half a billion in annual revenue in 2022.
WELL's goals for 2022 are to: (i) build out and refine its practitioner enablement platform and deploy its services both internally to WELL healthcare practitioners as well as offer its services to healthcare practitioners outside of the Company; (ii) achieve organic growth across all of its operating business units; (iii) follow a disciplined capital allocation strategy designed to continue to activate organic growth; and (iv) WELL expects to be profitable for the full year 2022, on an Adjusted Net Income basis.
In Canada, WELL is quickly expanding on what it has built -- the most consequential network of non-governmental healthcare assets across the country with significant operations and interoperability between its outpatient clinics, EMR, Diagnostics and Telehealth businesses
In the United States, the combined annualized run-rate revenue of Circle Medical and Wisp is better than US$80 million based on preliminary March volumes. We are expecting the combined run-rate revenue to exceed US$100 million later this year.
WELL is a purpose-driven business that aims to transform the world for the better, as such the Company has embarked on an ongoing ESG (Environmental, Social and Governance) program. The Company plans on publishing a report in the coming quarter highlighting WELL's ESG strategy, reporting initiatives and targeted actions.
WELL will hold a conference call to discuss its 2021 Fourth Quarter and Annual financial results on Thursday, March 31, 2022, at 1:00 pm ET (10:00 am PT). Please use the following dial-in numbers: 416-764-8650 (Toronto local), 778-383-7413 (Vancouver local), 1-888-664-6383 (Toll-Free) or +1-416-764-8650 (International), with Conference ID: 1776 5709.
The conference call will also be simultaneously webcast and can be accessed at the following audience URL: https://www.well.company/for-investors/events/
Selected Unaudited Financial Highlights:
Please see SEDAR for complete copies of the Company's audited annual consolidated financial statements and annual MD&A for the year ended December 31, 2021.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
WELL is a practitioner focused digital healthcare company whose overarching objective is to positively impact health outcomes to empower and support healthcare practitioners and their patients. WELL has built an innovative practitioner enablement platform that includes comprehensive end-to-end practice management tools inclusive of virtual care and digital patient engagement capabilities as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services. WELL uses this platform to power healthcare practitioners both inside and outside of WELL's own omni-channel patient services offerings. As such, WELL owns and operates Canada's largest network of outpatient medical clinics serving primary and specialized healthcare services and is the provider of a leading multi-national, multi-disciplinary telehealth offering. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and is part of the TSX Composite Index. To learn more about the Company, please visit: www.well.company.
This news release may contain "Forward-Looking Information" within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Company's goals, strategies and growth plans; expectations regarding continued revenue and EBITDA growth; the expected benefits and synergies of completed acquisitions; capital allocation plans in the form of more acquisitions or share repurchases; the expected financial performance as well as information in the "Outlook" section herein. Forward-Looking Information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-Looking Information involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information are not guarantees of future performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including: direct and indirect material adverse effects from the COVID-19 pandemic; adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at www.sedar.com, including its most recent Annual Information Form. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
This news release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about estimated annual run-rate revenue and Adjusted EBIDTA, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of WELL may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL's anticipated future business operations on an annual basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.
Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
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https://www.wibw.com/prnewswire/2022/04/01/aker-horizon-mainstream-renewable-power-signs-private-power-purchase-agreement-100-mw-solar-project-colombia/
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OSLO, Norway, April 1, 2022 /PRNewswire/ -- Mainstream Renewable Power, the global renewable energy company, has commercialised its first development in Colombia by signing a deal to supply 180 Gigawatt hours of clean energy each year in a private power purchase agreement (PPA). Mainstream will build the 100 MW Andromeda solar PV plant, located in Toluviejo, Colombia, to supply the electricity to Air-e, a Colombian energy distribution company.
The PPA has a tenure of 15 years, and will come into effect from 2024, once the ca. 195,000 solar panels are installed and new transmission infrastructure is in place.
This expansion of Mainstream's activities in Latin America builds on its leading position in Chile where it is building the 1.37 GW Andes Renovables platform, due to be completed next year in additional to launching the new 1 GW Nazca Renovables platform. Mainstream has a total portfolio of over 5.5 GW in Latin America and has been actively growing its development pipeline of wind and solar assets in Colombia since 2019. The Company is managing its Colombian activities from its office in the country's capital, Bogota.
Mainstream was one of four companies awarded a contract as part of the competitive auction run by Air-e, in which Mainstream secured 50 percent of the total available capacity in the process. This follows major successes in other markets across the world, including obtaining preferred bidder status for 1.27 GW of wind and solar projects in South Africa and completing the divestment of Aela Energia in Chile. Mainstream and Aker Horizons recently announced that Mitsui & Co., Ltd., one of the leading Japanese general trading and investment firms, has agreed to invest EUR 575 million in Mainstream, corresponding to a 27.5 percent equity stake, and will take a long-term active role in the growth of the company alongside existing long-term strategic investor, Aker Horizons.
"Mainstream is proud to announce our first major milestone in Colombia, a country with huge potential to transition quickly to renewable energy," said Mary Quaney, Mainstream's Chief Executive Officer. "We have been at the leading edge of developing clean energy around across the world, from Chile to South Africa, and our work in Colombia is a key example of how Mainstream intends to accelerate its growth trajectory with the support of Aker Horizons and our new long-term strategic investor Mitsui & Co. We look forward to building on this significant achievement in Colombia and enabling it to decarbonise through the large-scale deployment of renewables - with hundreds of megawatts already in the pipeline, we are well on our way."
"The entry of energy from non-conventional renewable sources to the electricity grid of La Guajira, Atlántico and Magdalena thanks to this Air-e auction ratifies the country's commitment to an environmentally friendly energy transition, while adding reliability to the system," said Miguel Lotero Robledo, Colombia's Vice Minister for Mines and Energy.
"This new mechanism of auctions and long-term contracting will enable the construction of solar projects in the departments of Bolivar, Magdalena, Sucre, Valle del Cauca and Tolima.This auction represents an important milestone for the company, its customers and the country because we want to promote the production of energy in an environmentally friendly manner. We also seek competitive prices for the benefit of our customers," said Jhon Jairo Toro, General Manager for Air-e.
For further information, please contact:
Ivar Simensen, Communications, Tel: +47 46 40 23 17, ivar.simensen@akerhorizons.com
Christian Yggeseth, Investor Relations, Tel: +47 915 10 000, christian.yggeseth@akerhorizons.com
Emmet Curley, Head of Communications & Positioning, Tel: +353 86 2411 690, emmet.curley@mainstreamrp.com
This information was brought to you by Cision http://news.cision.com
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https://www.wibw.com/prnewswire/2022/04/01/akeso-reported-2021-annual-results/
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Penpulimab Started Commercialization and Cadonilimab Filed for NDA
HONG KONG, April 1, 2022 /PRNewswire/ -- Akeso, Inc. (9926.HK) ( "Akeso" ), a China-based biopharmaceutical company focusing on the development and commercialization of innovative therapeutic antibodies for Oncology & Immunology, reported 2021 annual results.
Highlights:
- Anniko® (Penpulimab, AK105, PD-1) obtained market entry approval from the Chinese National Medical Products Administration (NMPA). Product sales of RMB 212 million was recorded for the year ended December 31, 2021. Licensing fee recognized was RMB128.6 million from our out-licensed product AK107 (CTLA-4) to MSD ("Merck Sharp & Dohme Corp.").
- Significant progress of clinical trials made: we submitted 4 marketing applications in 2021, including one for Cadonilimab (AK104, PD-1/CTLA-4) for the treatment of relapsed or metastatic cervical cancer, and three for Penpulimab including treatments for 1L sq-NSCLC and 3L NPC. We also obtained 37 IND approvals, and advanced 2 pre-clinical stage programs into clinical stage. As of the announcement date, we have developed over 30 innovative programs in-house, 15 of which are in clinical stage (including three out-licensed products). And our total number of pivotal or Phase III trials increased to 15. Our total R&D investment for the year was RMB1.07bn (excluding share-based compensation).
- As at December 31, 2021, total cash on hand and confirmed via other financing channels amounted to over RMB5bn, which will be sufficient to support research and development in the next two years.
Anniko® (PD-1) approved and Cadonilimab (PD-1/CTLA-4) expected to obtain approval
On August 5, 2021, our first oncology immunotherapy product, Anniko® (Penpulimab, AK105, PD-1) injection for the treatment of relapsed or refractory classic Hodgkin's lymphoma obtained market entry approval by the NMPA in China. Product sales of RMB212 million was recorded for the year ended December 31, 2021.
In July 2021, we submitted an NDA of Anniko® in combination with chemotherapy for first-line treatment of locally advanced or metastatic squamous non-small cell lung cancer ("sq-NSCLC") in China. In August, we submitted another NDA for third-line treatment of patients with metastatic nasopharyngeal carcinoma ("NPC") in China. In September, 2021, we also submitted a BLA for third-line treatment of patients with metastatic NPC to the FDA through the Real-Time Oncology Review ("RTOR") Programme.
Meanwhile, in oncology therapeutic area, we have achieved important breakthroughs on its fully in-house developed innovative products including Cadonilimab (AK104, PD-1/CTLA-4), AK112 (PD-1/VEGF) and AK117(CD47). In September 2021, we submitted another NDA in China for Cadonilimab for the treatment of relapsed or metastatic cervical cancer under priority review. As of this announcement date, Cadonilimab started three Phase III clinical trials for first-line treatment of advanced gastric adenocarcinoma or gastroesophageal junction cancer (GC/GEJ), first-line treatment of recurrent or metastatic cervical cancer, and locally advanced cervical cancer. AK112 (PD-1/VEGF) started two Phase III clinical trials for first-line treatment of PD-L1(+) NSCLC, and advanced NSCLC previously treated with EGFR-mutant Tyrosine Kinase Inhibitor (TKI) treatment. Another core product AK117 (CD47) has also started various combination therapies studies for treatment of solid tumors, and the preliminary data showed promising results.
In non-oncology therapeutic area, AK101 (IL12/23) entered into Phase III clinical study for the treatment of moderate-to-severe plaque psoriasis. AK102 (PCSK9) started Phase III clinical study for hypercholesterolemia, and a pivotal clinical study for heterozygous familial hypercholesterolemia ("HeFH").
An experienced commercialization team is ready to launch the new product
With more innovative drugs pending to obtain approval, we have already established an experienced commercialization team with proven track record of success. As of the end of 2021, our commercialization team has more than 500 team members, and all core members have successful sales and marketing experiences. It has achieved in-depth coverage of 1500+ hospitals, 500+ DTP pharmacies, and 60+ Insurance and Charity across the country.
This professional team will be responsible for the commercialization of Cadonilimab. Based on the superior efficacy and first mover advantage of Cadonilimab in clinical studies for the treatment of cervical cancer, gastric cancer, and liver cancer, we have full confidence in a successful launch of Cadonilimab.
High-quality GMP-compliant manufacturing
As of December 31, 2021, we have developed world-class GMP facilities to support large scale commercialization and R&D plans. We currently have 23,500L GMP compliant production capacity in operation, with more capacity under construction and in planning.
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https://www.wibw.com/prnewswire/2022/04/01/alligator-bioscience-announces-completion-600-mg-dose-cohort-ator-1017-dose-escalation-enrollment-900-mg-dose-cohort-commences/
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LUND, Sweden, April 1, 2022 /PRNewswire/ -- Alligator Bioscience (Nasdaq Stockholm: ATORX) today announced the completion of the patient enrollment for the 600 mg dose cohort from Alligator's Phase I, first-in-human clinical trial with the 4-1BB (CD137) targeting drug candidate, ATOR-1017, which is being developed as a tumor-directed therapy for
advanced/metastatic cancer. The Phase I study with ATOR-1017 is an open-label, dose escalation study in patients with histologically confirmed, advanced and/or refractory solid cancer (NCT04144842). The primary objective of the study is to investigate the safety and tolerability of ATOR-1017, and to determine the recommended dose for subsequent Phase II studies.
The data indicate that for doses up to 600 mg, there were no significant safety concerns with stable disease as the best tumor response. Patient enrollment and treatment for the highest planned dose cohort, 900 mg, has commenced.
As previously announced in December 2021, results from the early readout for ATOR-1017 showed that the drug candidate has an encouraging safety profile. In this readout, there was no dose-limiting toxicity or severe immune-related adverse events (link to press release).
For further information, please contact:
Julie Silber, Investor Relations
Phone: +46 46-540 82 23
E-mail: jur@alligatorbioscience.com
About Alligator Bioscience
Alligator Bioscience AB is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs. Alligator's pipeline includes the two key assets mitazalimab, a CD40 agonist, and ATOR-1017, a 4-1BB agonist. Furthermore, Alligator is co-developing ALG.APV-527 with Aptevo Therapeutics Inc., several undisclosed molecules based on its proprietary technology platform, Neo-X-Prime™, and novel drug candidates based on the RUBY™ bispecific platform with Orion Corporation. Out licensed programs include AC101, in phase II development, by Shanghai Henlius Biotech Inc. and an undisclosed target to Biotheus Inc. Alligator Bioscience's shares are listed on Nasdaq Stockholm (ATORX) and is headquartered in Lund, Sweden.
For more information, please visit http://www.alligatorbioscience.com.
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https://www.wibw.com/prnewswire/2022/04/01/decisionpoint-systems-announces-fourth-quarter-full-year-2021-results/
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Strategic growth plan continues to yield gains in revenue, margin, and mix
DELRAY BEACH, Fla., March 31, 2022 /PRNewswire/ -- DecisionPoint Systems, Inc. (OTCQB: DPSI), today announced fourth quarter and full year 2021 financial results.
Full Year 2021
- Revenue was $65.9MM, an increase of $2.6MM (3.9%) from 2020.
- Services revenues, the Company's strategic focus, were $15.5MM, an increase of $2.8MM (17.9%) from 2020.
- Gross profit, $15.3MM, increased by $0.5MM (3.3%) from 2020.
- 2021 EBITDA was $3.0MM ($2.8MM on an Adjusted EBITDA basis).
- Debt was paid down by $1.2MM from December 31, 2020.
Fourth Quarter 2021
- Q4 Revenue was $16.5MM, pressured by industry-wide supply chain issues, which the Company anticipates continuing into 1H 2022.
- Solid booking activity continued however resulting in a backlog expansion to $31.2MM. The Company is working closely with its equipment manufacturer partners to manage through these supply constraints.
- Q4 Adjusted EBITDA was $0.3MM for the fourth quarter 2021, compared with $1.3MM for the fourth quarter of 2020.
"We continue to execute the strategic growth plan we put in place several years ago," commented CEO Steve Smith. "That plan is focused on the growth of what we call "mobility-first services," and on the expansion of our served geographic coverage. We're achieving those goals through both the organic build-out of our business and by select acquisitions.
Smith continued, "While the sale of enterprise hardware such as mobile computers, bar code and RFID scanners, and printers remains a solid core of our business, the provision of associated services, including especially managed operational services, with its recurring revenue streams, is the focus of our strategic intent. The nearly 18% growth in these services in 2021 marks our progress. We plan for services to contribute still larger proportions of our growth going forward, yielding margin expansion, increased forward revenue visibility, and the foundation for robust enterprise value growth."
"The Company also continues to execute on its strategy to make select strategic acquisitions that add technical competencies, operational capacity, and geographic coverage. The full integration of one such acquisition from late 2020, ExtenData, a Rocky Mountains-focused regional leader in solutions and services design and delivery, was completed in 2021. In January 2022, we also acquired Advanced Mobile Group to expand DecisionPoint's mobility-first enterprise solutions and service offerings and grow its capabilities in the mid-Atlantic region. Advanced Mobile Group is a regional leader providing services, hardware, software, integration, and wireless networking solutions, with deep experience in warehousing and distribution, manufacturing, mobile workforce automation, retailing, and healthcare segments, and 600 customers."
CEO Smith concluded, "2021 was another very solid year for DecisionPoint. We grew in all key measures relative to 2020, a tough compare with its outsized singular top line event, and did so overcoming industry headwinds caused by global supply chain constraints. I'm confident that our plans and proven execution capacity will yield still greater successes for our customers and growth for DecisionPoint in 2022 and beyond."
Our cash and accounts receivable were $14.9 million on December 31, 2021, compared to $18.4 million on December 31, 2020. Cash flow from operations in 2021 was $2.4 million, as compared to $4.2 million in 2020. Overall debt is lower by $1.2 million than at the beginning of the year. As of December 31, 2021, we had no borrowings under the line of credit.
A conference call to discuss these financial results is scheduled for Friday, April 1, 2022, at 4:30 p.m. ET (1:30 p.m. PT). Investors, analysts, and all parties interested in listening to the call are invited to dial (877) 407-3982 (domestic) or (201) 493-6780 (international) at 4:30 p.m. ET (1:30 p.m. PT). The conference call will also be available to interested parties through a live webcast at https://viavid.webcasts.com/starthere.jsp?ei=1540399&tp_key=229612448d. Please log in at least 15 minutes prior to the start of the call to register and download any necessary software.
A telephone replay of the call will be available until April 1, 2022, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 13728547. Please note participants must enter the conference identification number in order to access the replay.
DecisionPoint Systems Inc. delivers mobility-first managed service and integration solutions to healthcare, supply chain, and retail customers, enabling them to make better and faster decisions in the moments that matter—the decision points. Our mission is to help businesses consistently deliver on those moments—accelerating growth, improving worker productivity, and lowering risks and costs.
For more information about DecisionPoint Systems, Inc., visit www.decisionpt.com.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs and assumptions and on information currently available to management. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by forward-looking statements. Forward-looking statements in this press release may include statements about our plans to obtain funding for our current and proposed operations and potential acquisition and expansion efforts; the ultimate impact of the COVID-19 pandemic, or any other health epidemic, on our business, our clientele or the global economy as a whole; debt obligations of the Company; our general history of operating losses; our ability to compete with companies producing products and services; the scope of protection we are able to establish and maintain for intellectual property rights covering our products and technology; the accuracy of our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our ability to develop and maintain our corporate infrastructure, including our internal controls; our ability to develop innovative new products; and our financial performance. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. We qualify all of our forward-looking statements by these cautionary statements. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our periodic filings with the Securities and Exchange Commission.
Investor Relations Contact:
ir@decisionpt.com
This press release includes information relating to Adjusted EBITDA which the Securities and Exchange Commission has defined as a "non-GAAP financial measure." Adjusted EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit), depreciation and amortization, other income (expense), gain (loss) on extinguishment of debt and share based compensation expense. We believe Adjusted EBITDA may provide investors with useful information of how our current primary operating results relate to our historical performance. The non-GAAP financial measure provided is not meant to be considered as a substitute for GAAP financials. We caution investors that amounts presented in accordance with our definitions of Adjusted EBITDA may not be comparable to similar measures disclosed by other companies, because not all companies calculate Adjusted EBITDA in the same manner.
The following is a reconciliation of net income to Adjusted EBITDA (unaudited and in thousands):
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https://www.wibw.com/prnewswire/2022/04/01/defi-pulse-index-index-cooperative-tokens-list-gemini-exchange/
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NEW YORK, April 1, 2022 /PRNewswire/ -- The Index Cooperative's flagship product, the DeFi Pulse Index (DPI), and governance token (INDEX) can now be held or traded directly on Gemini, a regulated cryptocurrency exchange, wallet, and custodian that makes it simple and secure to buy digital assets. Founded in 2014 by Cameron and Tyler Winklevoss, Gemini's simple, innovative, and secure products are built to empower the individual.
"We are honored to partner with the Gemini team to list DPI and INDEX," said Mike Taormina, Head of Institutional Business at the Index Coop. "We share Gemini's purpose to provide simple and secure ways to empower people to invest in blockchain products."
"The inclusion of DPI and INDEX on the Gemini platform helps Index Cooperative to realize its mission to build decentralized financial products that unlock prosperity for everyone," said Taormina. "Index investing is widely regarded as one of the simplest ways to diversify a portfolio and experience competitive performance with the broader market."
The DeFi Pulse Index is a capitalization-weighted index that provides a cost-efficient means to gain investable access to decentralized finance ("DeFi") as a theme. The index includes blue-chip DeFi governance tokens, covering the major decentralized exchanges, lending protocols, and other participants in the sector.
Scott Lewis, founder of DeFi Pulse, explained the DPI methodology "gives users a unique way to get diversification and quality in their holdings without needing to research every single DeFi protocol. DPI's listing on Gemini opens that up to the broadest set of users yet and allows more people to buy into DeFi efficiently."
INDEX empowers tokenholders to govern Index Coop, a leading decentralized crypto community with more than $250mm in aggregate assets held across its product suite.
"Token-based governance unlocks a world of possibility and value that you can only find in Web3," said Index Coop Head of Governance, Mel Oxenreider. "Product builders and community can decide on organizational strategy - everything from protocol upgrades and product launches to influencing broader ecosystem strategies - all powered by the INDEX governance token," Oxenreider explains.
DPI and INDEX tokens are available on Gemini here.
About Index Coop:
The Index Cooperative builds simple, powerful index products to help users access crypto investment themes and is one of three DeFi organizations recognized in the 2022 CB Insights Blockchain 50. As of March 30th, 2022, Index Cooperative products have an aggregate Total Value Locked (TVL) of approximately $250mm.
Press contact: marketing@indexcoop.com
About Scalara:
Scalara is the index provider behind some of the largest and most innovative index products in the quickly evolving Decentralized Finance (DeFi) space. As a spin-off from DeFi Pulse, the leading provider of market intelligence in DeFi, Scalara shares their mission to make DeFi accessible to everyone and be an innovator in the quickly evolving DeFi ecosystem.
About Gemini:
Gemini is a platform that allows customers to buy, sell, store, and earn cryptocurrencies like bitcoin, ether, and DeFi tokens. Gemini's simple, innovative, and secure products are built to empower the individual. Gemini was founded in 2014 by twin brothers Cameron and Tyler Winklevoss.
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SOURCE Index Cooperative
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https://www.wibw.com/prnewswire/2022/04/01/dont-be-fooled-by-fake-goods/
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This April Fools' Day, think before you shop
WASHINGTON, March 31, 2022 /PRNewswire/ -- Counterfeit products threaten both public health and safety as well as national security. This April Fools' Day, McGruff the Crime Dog® doesn't want Americans to be fooled by fake products.
The National Crime Prevention Council (NCPC) and the United States Patent and Trademark Office (USPTO) have launched the Go For Real campaign to ensure young Americans aren't fooled by criminals and learn the harms associated with purchasing counterfeits. Through PSAs, radio ads, games, and educational materials directed at tweens and teens, the Go For Real campaign hopes to change buying behaviors and raise awareness of the damage caused by fake products.
"From catching on fire to causing skin rashes, fake products cause real harm," said Paul DelPonte, NCPC's Executive Director. "Nobody, especially teenagers, wants to be dupped into buying a fake product. McGruff is urging everyone to buy smart."
Fake products can have dangerous ingredients and degraded additives. According to the USPTO, international organized criminal enterprises are turning to counterfeiting to fund other illegal activities, including illegal drug sales, child labor, and human trafficking.
Visit NCPC.org/GoForReal for resources on how to spot fake products, including the Dupe Detector Kit and online games. Watch McGruff's latest public service announcements, share them on social media, and tag @McGruffatNCPC.
About the National Crime Prevention Council
The nonprofit National Crime Prevention Council, along with McGruff the Crime Dog®, have helped generations of Americans Take A Bite Out Of Crime®. NCPC is the leader in crime prevention for millions of Americans, their families, and their communities. NCPC's work is funded with the help of government agencies, foundations, corporations, and individuals who want to stop crime before it happens. To learn more, visit https://www.ncpc.org/ and follow NCPC on Facebook, Twitter, Instagram, LinkedIn, and YouTube.
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https://www.wibw.com/prnewswire/2022/04/01/hexagon-announces-financial-adjustments-related-business-operations-russia-acquisition-etq/
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NACKA STRAND, Sweden, April 1, 2022 /PRNewswire/ -- Hexagon AB, a global leader in digital reality solutions combining sensor, software and autonomous technologies, today announced financial adjustments related to a decision to freeze business operations in Russia and the completion of the acquisition of ETQ. Hexagon will take a one-off charge of approximately 63 MEUR which will impact the first quarter 2022.The majority relates to the freezing of operations in Russia, which includes both a write-off of assets in the balance sheet and personnel costs.
Freezing business operations in Russia
Due to circumstances following Russia's invasion of Ukraine, Hexagon has taken the decision to freeze all business activities in Russia. As previously communicated, Hexagon has already suspended all exports of hardware and software licenses to Russia and is now taking further steps to adapt to the current business situation. Given the uncertainty of the outlook, these steps are constantly under review and will be adjusted if the situation changes. About 2 per cent of Hexagon's annual turnover can be attributed to business in Russia, with approximately 200 people employed in the country.
Hexagon completes the acquisition of ETQ
ETQ is a leading provider of SaaS-based QMS (quality management system), EHS (environment, health and safety) and compliance management software. ETQ is expected to generate revenues of around 75 MUSD in 2022 with an adjusted operating margin of over 35 per cent (cash EBITDA margins of around 45 per cent). SaaS is expected to account for half of bookings in 2022 and has been growing at a trailing 3-year Compound Annual Growth Rate (CAGR) of 60 per cent. The transaction is expected to generate sales synergies of over 40 MUSD, with very strong incremental margins, by 2026. Completion of the transaction was subject to regulatory approvals and other customary closing conditions, which have now been obtained. ETQ will be consolidated as of 1 April 2022 and will operate within Hexagon's Manufacturing Intelligence division.
Transaction details
- Total purchase price of 1,200 MUSD on a cash and debt free basis
- The cash consideration is fully financed via existing and new debt facilities and the proforma net debt to EBITDA ratio based on the fourth quarter 2021, including the transaction, amounts to approximately 2.0
- Surplus values in the purchase price allocation (PPA) are estimated to be 250 MEUR and will be amortised over 13 years, beginning in the second quarter 2022
- A deferred revenue adjustment of 5 MEUR will impact the income statement over the next three quarters, beginning in the second quarter 2022
For further information, please contact:
Maria Luthström, Head of Sustainability and Investor Relations, Hexagon AB, +46 8 601 26 27, ir@hexagon.com
Kristin Christensen, Chief Marketing Officer, Hexagon AB, +1 404 554 0972, media@hexagon.com
This is information that Hexagon AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 1 April 2022.
This information was brought to you by Cision http://news.cision.com
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SOURCE Hexagon
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https://www.wibw.com/prnewswire/2022/04/01/iqiyi-upgrades-collaboration-model-online-film-distribution/
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BEIJING, April 1, 2022 /PRNewswire/ -- iQIYI, an innovative market-leading online entertainment service in China, announced on Apr.1 that it will upgrade its collaboration model for online film distribution starting today. The new model includes two distribution models, Cloud Cinema Premiere and Subscription Premiere. Films released under the Cloud Cinema Premiere model will generate revenues from both the Premium Video on Demand (PVOD) and Subscription Video on Demand (SVOD) models of streaming. Meanwhile, for films released under the Subscription Premiere model, the revenue shared with film producers will be determined by users' viewing time alone, rather than according to the different fee category classifications iQIYI had assigned to individual films.
Previously, films were first classified and graded before premiering online, with the shared revenue and promotion support for each film varying according to the classification. The new collaboration model launched by iQIYI represents a complete shift from film classifications, a move designed to ensure equal distribution support for all films before their premiere. As the films come online, iQIYI will allocate promotional resources according to viewing time and user reviews, thereby improving promotional efficiency.
The upgraded model helps initiate a Direct-to-Consumer (DTC) model in China's film and television industry. For both streaming platforms and content creators, the DTC model is not just a new revenue stream, but it also represents an inevitable developmental trend as the film and television industry continues to head towards sustainable growth and business model optimization. The DTC model incentivizes filmmakers to make movies that can capture viewers' initial attention but are also of a high enough quality that viewers are compelled to finish the films. In this sense, the DTC model helps align the interest and risk between the producers and video platforms, encouraging the two parties to work more closely together to create quality content, boost revenue, and help build a fairer media ecosystem.
YANG Xianghua, President of Movie & Overseas Business Group (MOG) of iQIYI said: "We are committed to continue building an internet-based online film trading platform, where a more mature business model can help drive box offices. Our aim is for internet-based film watching to ultimately become a second pillar—alongside movie theatres—that drives development and growth in China's film industry."
According to the China Internet Network Information Center (CNNIC), the size of online video viewers in China had reached 975 million in 2021. As the global film industry actively looks for new growth driver, the commercial success of the over 20 titles released through the iQIYI Cloud Cinema Premiere model speaks to its immense market potential.
iQIYI took the lead among Chinese video streaming platforms in exploring the PVOD model by introducing a new avenue for film distribution for the entire industry. In 2021, nine films, including Dreams of Getting Rich and Northeastern Bro, were released on iQIYI platform through the PVOD model. The number of viewers paying to watch these movies under the model shows its value. Popular film Double World achieved an unrivaled box office of RMB 42.62 million within 72 hours of its release, breaking the revenue record at that time for paid online movie premieres.
As China's online film market continues to develop, iQIYI expects that streamers will create transaction platforms that are accessible to content creators, the pricing right stays with the filmmakers, and promotion resources will be allocated based on viewers' preferences.
CONTACT: iQIYI Press, press@qiyi.com
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https://www.wibw.com/prnewswire/2022/04/01/kia-america-gains-market-share-first-quarter-electrified-vehicle-sales-grow-rapid-pace/
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EV6 Deliveries Rise 49-percent in Second Month in Showrooms; Automaker Captures Largest Market Share Percentage in Company History
IRVINE, Calif., April 1, 2022 /PRNewswire/ -- Kia America today announced March sales of 59,524 units, capping the brand's second highest total through the first three months of the year. With 3,156 all-electric EV6 models sold in March, Kia's electrified models notched their best-ever monthly and quarterly performances.
Additional monthly sales highlights include:
- Record monthly sales of Kia's overall electrified model lineup, increasing by 55-percent over the previous record
- Sales of the Niro model lineup of electrified crossovers increasing by 32-percent over the previous monthly sales record set by the model
"There is an incredibly positive energy surrounding the Kia brand right now as we continue to outpace the industry and gain market share despite the ongoing industry challenges," said Eric Watson, vice president, sales operations, Kia America. "Kia experienced tremendous growth in the SUV and utility vehicle segments over the last few years, and we are now seeing a similar trend in the electric space as we establish a leadership position in sustainable mobility."
In addition to sales, March saw several significant announcements coming from the brand, including:
- The Niro EV taking top honors in the mass market category in J.D. Power's 2022 Electric Vehicle Experience (EVX) Ownership Study for the second year in a row. The survey is based on responses from more than 8,000 electric vehicle (EV) owners regarding critical factors including cost-of-ownership, battery range, service experience, styling and driving enjoyment to determine ownership satisfaction and likelihood to repurchase.
- The 2022 Kia Telluride named the "Best 3-Row SUV for Families" by U.S. News & World Report for the third consecutive year.
- Autotrader including the Carnival MPV among the "Best New Cars for 2022".
Headquartered in Irvine, California, Kia America continues to top automotive quality surveys and is recognized as one of the 100 Best Global Brands. Kia serves as the "Official Automotive Partner" of the NBA and offers a range of gasoline, hybrid, plug-in hybrid, and electrified vehicles sold through a network of nearly 750 dealers in the U.S., including several cars and SUVs proudly assembled in America.
For media information, including photography, visit www.kiamedia.com. To receive custom email notifications for press releases the moment they are published, subscribe at www.kiamedia.com/us/en/newsalert.
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https://www.wibw.com/prnewswire/2022/04/01/korea-ginseng-corp-launches-koreselect-line-us-market/
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- World's No.1 Ginseng Brand launched exclusive brand "Koreselect" for the U.S.
- Lee Min-ho, Global Embassador of KGC, plays the role in Pachinko on Apple TV+
SEOUL, South Korea and NEW YORK, April 1, 2022 /PRNewswire/ -- Korea Ginseng Corporation (KGC), the world's number one ginseng brand, officially launched its KORESELECT product line in the U.S. market. The KORESELECT line exclusively uses six-year-grown red ginseng in plant-based products that are a time-tested, natural solution for core aspects of health and wellness.
KORESELECT products are made from six-year-grown Korean Red Ginseng and may promote blood circulation, boost stamina and support immunity. These products may also bolster cognitive function, support skin health and reduce inflammation. The KORESELECT product 5 line includes: Immune, Energy, Wellness, Balance and Stamina.
KORESELECT products are GMO free, caffeine free, GMP quality assured and are made with zero artificial coloring, flavor, preservatives, dairy, fish, eggs and nuts.
Established in 1899, Korea Ginseng Corporation is a highly trusted and reliable ginseng brand and the most reputable manufacturer in the category. The global ginseng leader provides the highest quality, traditionally-harvested Korean Red Ginseng - recognized as the more efficacious form of ginseng.
Korea Ginseng Corporation follows an optimal sourcing process, taking two years to condition and prepare each field for planting, allowing each plant to grow for six years in order to reach its optimal state of maturity, and then allowing each field to rest a full ten years before replanting.
Along with the excellent quality of CheongKwanjang, Korea Ginseng Corporation is collaborating with outstanding actors in various ways. Especially Lee Min-ho, The popular K-drama actor, is the global Embassador for Korea Ginseng Corp. He plays the role of "Hansu" in the much-anticipated Apple TV+ series, Pachinko.
For more information on KGC's KORESELECT line, visit https://kgcus.com/collections/koreselect.
About Korea Ginseng Corp.
Korea Ginseng Corporation (KGC) is the world's number one ginseng brand. Established in 1899, Korea Ginseng Corporation is a highly trusted and reliable Korean Red Ginseng brand and the oldest and most reputable manufacturer in the category. The global ginseng leader provides the highest quality, traditionally-harvested Korean Red Ginseng - recognized as the more efficacious form of ginseng. KGC's family of brands include KORESELECT, CheongKwanJang, Good Base and Donginbi. KORESELECT products are a plant-based, time-tested, natural solution for core aspects of health and wellness and may support healthy blood circulation, natural energy, and immunity as well as cognitive function, skin health and reduction of inflammation. For more information visit, https://www.kgcus.com/.
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https://www.wibw.com/prnewswire/2022/04/01/longi-achieves-new-world-record-indium-free-hjt-cell-efficiency/
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XI'AN, China, March 31, 2022 /PRNewswire/ -- Only days after setting a record of 25.47% for efficiency of its p-type HJT cells, LONGi has announced a new record of 25.40% for its indium-free HJT cells. This record, once again validated in testing carried out by the Institute for Solar Energy Research (ISFH) in Hamelin, Germany, was achieved on M6 (274.5cm2) full-size monocrystalline silicon wafers, confirming the basis for industrialisation of the low-cost technology route for HJT cells, following ongoing research by LONGi's R&D team.
Advanced surface passivation technology previously developed by the team was applied to the HJT cells, using low-cost indium-free targets to prepare transparent conducting oxide films. Process innovations enabled the cells to maintain a high conversion efficiency despite being completely indium-free. The high-efficiency HJT cells will effectively reduce dependence on indium resources in mass production and result in a significant reduction in costs.
LONGi has now achieved overall leadership in a number of new high-efficiency cell technologies such as n-type and p-type TOPCon and n-type and p-type HJT, continually pushing the limits for commercial use of solar energy applications to new levels.
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https://www.wibw.com/prnewswire/2022/04/01/rosen-leading-law-firm-encourages-sunpower-corporation-investors-with-losses-secure-counsel-before-important-deadline-securities-class-action-spwr/
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NEW YORK, March 31, 2022 /PRNewswire/ --
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of SunPower Corporation (NASDAQ: SPWR) between August 3, 2021 and January 20, 2022, inclusive (the "Class Period"), of the important April 18, 2022 lead plaintiff deadline.
SO WHAT: If you purchased SunPower securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the SunPower class action, go to https://rosenlegal.com/submit-form/?case_id=3135 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 18, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) certain connectors used by SunPower suffered from cracking issues; (2) as a result, SunPower was reasonably likely to incur costs to remediate the faulty connectors; (3) as a result of the foregoing, SunPower's financial results would be adversely impacted; and (4) as a result of the foregoing, defendants' positive statements about SunPower's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the SunPower class action, go to https://rosenlegal.com/submit-form/?case_id=3135 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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https://www.wibw.com/prnewswire/2022/04/01/shincheonji-church-unveil-new-seminar-following-its-revelation-parables-series/
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NEW YORK, April 1, 2022 /PRNewswire/ -- From March 31st to June 27th, Shincheonji, Church of Jesus, the Temple of the Tabernacle of the Testimony, will unveil its intermediate curriculum through a new seminar. The series titled, "The Testimony on the Revelation of the Old and New Testaments by Chapter," will be available on YouTube. Content will be provided through the Zion Christian Mission Center, the free Bible education center of Shincheonji Church.
The seminar will begin with a special lecture by Chairman Lee Man-Hee on March 31st. After Chairman Lee's explanation of the purpose of the intermediate curriculum, 24 lessons taught by the heads of the Shincheonji branch churches will be released.
"After the Revelation seminar and the introductory curriculum, (the instructors) will testify the intermediate curriculum," Chairman Lee said. "They are the people who have written the Old and New Testaments – even Revelation – in their hearts and minds to become walking Bibles. Please keep a record. Anything you think is wrong, ask questions, and make comments at any time."
The online seminar will focus on core chapters within the Bible and cover the following topics:
- God's covenant, Abraham and Revelation
- The kingdom of heaven created according to the heavenly and spiritual realm
- The order of the betrayal of the chosen people, destruction, and salvation
- The sealed books and revelations of the Old and New Testaments
- The outcome of those who kept the covenant and of those who did not
The latest series follows previous YouTube seminars explaining the Book of Revelation and a 24-part series on the parables of the secrets of heaven. So far, YouTube views for the seminar on the parables of Jesus have exceeded 15 million.
In total, 2,000 pastors have signed MOUs with Shincheonji Church and applied for educational materials. More than 100 pastors, evangelists and seminarians in Korea have registered for the standard Bible curriculum offered by Shincheonji Church.
"As Shincheonji Church of Jesus is growing rapidly, even pastors can apply for educational materials and request for lecturers to be sent," a church official said. "The reason we are able to spread the best word of mankind is because God is with us. I hope this will be a time people can check – through the word of Revelation that God promised and fulfilled – the secrets of the Bible that have never (been) known."
Contact: revelation@scjamericas.org
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https://www.wibw.com/prnewswire/2022/04/01/stewart-law-firm-institutes-sweeping-changes-splash-pad-water-monitoring-novel-child-death-settlement-with-city-arlington/
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Lapses in water-quality testing discovered after rare brain-eating amoeba resulted in child's 2021 death
- Stewart instituted sweeping technology monitoring changes as part of settlement to prevent future tragedies beginning summer 2022
- Child infected with rare amoeba that led to September 2021 death
- Arlington city officials found lapses in water-quality inspection logs on dates victim visited one of the splash pads
AUSTIN, Texas, March 31, 2022 /PRNewswire/ -- Stephen Stewart of Austin, TX-based Stewart Law Firm announced today that his firm has reached a settlement with the City of Arlington after extensive litigation involving a child death at one of the city's splash pads.
Like most personal injury settlements, the law provides for a monetary cap of $250,000 award. Due to severity and terrible loss, Stewart charged the City of Arlington with implementing on-site QR code technology so parents can get the latest water-quality testing results.
The settlement agreement calls for the technology to be operational prior to the Summer 2022 swimming season.
"The family believed, and I agree, that preventing such future tragedies and any parent the grief they have suffered was more important than a monetary award," said Stewart. "My law firm came up with and proposed the QR-code scanning option and we hope it will become the national standard in splash pads, water parks and other public water facilities across the country."
The young boy became ill in September 2021 and was hospitalized. When the hospital identified his infection as primary amebic meningoencephalaitis, they notified health officials, leading to an investigation and closing of the city's splash pads. Working with the CDC, officials identified the naegleria fowleri ameba at one of the splash pads the family had visited prior to his illness. While rare, the ameba causes an infection that is often fatal. The boy died a few days later.
As part of the review of the splash pad water inspection logs, city officials found lapses in documented readings in two of the four splash pads located in the city, which coincided with some of the family's visits to one of the splash pads. The QR technology, said Stewart, means families can now view the water chlorination readings before they allow their children to use the splash pads.
The City of Arlington is also charged to share their "lessons learned" and the new technology protocols at conferences around the country with the hopes that other public swimming facilities will follow suit.
"These parents acted selflessly in agreeing to accept this technology solution versus a financial award," said Stewart. "We can all thank them for their courage and commitment to helping other parents, not just in Arlington but around the country, avoid the kind of loss and heartbreak they have endured."
About The Stewart Law Firm
Stephen W. Stewart, founder of The Stewart Law Firm (www.thestewartlawfirm.net), in Austin, Texas, serves as Chairman on the Advisory Board for MADD-Texas and sponsors numerous foundations in their missions to raise awareness for the greater good. He has a lifetime membership in the Million Dollar Advocates Forum®, was included in The National Trial Lawyers Top 100 from 2012-2020, and was selected to the Texas Super Lawyers® list from 2011-2020. The law firm accommodates both English- and Spanish-speaking clients and can be reached at 512.326.3200, or by visiting 2800 S. IH-35 Frontage Rd., Suite 165, Austin, TX 78704.
View original content:
SOURCE Stewart Law Firm
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https://www.wibw.com/prnewswire/2022/04/01/tatu-city-flies-kenyan-diaspora-home-anywhere-world/
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TATU CITY, Kenya, April 1, 2022 /PRNewswire/ -- Tatu City, the 5,000-acre new city on Nairobi's doorstep, will fly a lucky Kenyan diaspora raffle winner home from any location in the world. Entry into the raffle is free and open to any Kenyan living outside the country aged 18 and older. As an added bonus, the winner can invite a friend or family member to fly home as their companion.
Called "Fly Me Home!", the raffle will accept entries from 1 April through 30 June 2022. The draw will be shown live on Tatu City's social media channels on 1 July 2022.
Launching the "Fly Me Home!" campaign, Olympian and World Champion runner Lornah Kiplagat, a Tatu City resident and the new city's Health & Wellness Ambassador, said: "Tatu City is proud to support Kenyan diaspora and the incredibly important role they play in our country's economic development. The controlled neighbourhoods of Tatu City have long attracted members of the diaspora looking for a serene, secure and rapidly appreciating real estate investment back home in Kenya, and we are pleased to make their return even easier, from any location in the world!"
Located just 30 minutes from Central Nairobi, Tatu City has two schools – Crawford International and Nova Pioneer – which educate more than 3,000 students daily, thousands of apartments and single dwelling homes in Kijani Ridge, the city's premier residential neighbourhood. Roast by Carnivore, a restaurant by Tamarind Group, the country's leading hospitality operator, opened in November 2021 at the entrance to Tatu City.
Tatu City represents a new way of living and thinking for all Kenyans, creating a unique live, work and play environment that is free from traffic congestion and long-distance commuting.
Kenya's first operational Special Economic Zone, Tatu City has welcomed more than 60 companies to its business-friendly location, including Dormans, Copia, Cooper K-Brands, Chandaria Industries, Maxxam, Kim-Fay, Twiga Foods, Freight Forwarders Solutions, Friendship Group, Davis & Shirtliff and KWAL.
Registration for the raffle and Terms & Conditions are found on tatucity.com/flymehome. The raffle is licensed by the Betting Control and Licensing Board of Kenya.
View original content to download multimedia:
SOURCE Tatu City
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https://www.wibw.com/prnewswire/2022/04/01/ugreen-launches-new-hitune-x6-anc-earbuds/
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HONG KONG, April 1, 2022 /PRNewswire/ -- Ugreen, a global leader in electronic accessories, is announcing the release of the HiTune X6 ANC earbuds. The X6 aims to bring high-quality listening to everyone.
HiTune Quality
Ugreen's goal for HiTune earbuds is to provide a high-quality listening experience at a price that the average person can afford. The HiTune Acoustics Lab has been hard at work striving toward this goal.
The HiTune team's unique SuperBass tuning system provides deep bass for popular music while maintaining the mids and high tones for other music genres and podcasts.
X6 Key Features
The X6s feature 10mm Diamond-Like Carbon drivers, which are harder and more durable than traditional metal drivers.
The X6 buds are the first pair of HiTune earbuds that feature hybrid noise cancellation. The Acoustics Lab team built the system from the ground up. The ANC in the X6 earbuds can reduce up to 35 dB of ambient sound.
Additionally, HiTune X6 earbuds feature Bluetooth 5.1. They have 7 hours of battery life and gaming mode which enables 50-millisecond low latency audio.
Price and Availability
The X6 earbuds are currently available in the US with a recommended retail price of $49.99. It is also available in the UK and a number of other European countries on Amazon. Additionally, they are available on Ugreen's website.
About Ugreen
Ugreen is an established name in the charging and audio video sectors and now the team is attempting to disrupt the earbuds market by providing quality listening at prices people can afford. By developing proprietary technology, Ugreen can offer consumers better value for their money.
Contact:
marketing@ugreen.com
Ugreen Limited
Related Link:
https://www.ugreen.com/
View original content to download multimedia:
SOURCE Ugreen Limited
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https://www.wibw.com/prnewswire/2022/04/01/very-good-food-company-reports-fourth-quarter-fiscal-year-2021-financial-results/
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2021 Revenue Increased 164% Year-over-Year to $12.3 Million
Q4 2021 Revenue increased 70% to $4.3 Million compared to Q3 2021
2021 eCommerce Revenue Increased by $5.9 Million or 174% Year-over-Year
2021 Fulfilled eCommerce Orders Increased by 149% to 100,473 Year-over-Year
VANCOUVER, BC, March 31, 2022 /PRNewswire/ - The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V) ("VERY GOOD" or the "Company"), a leading plant-based food technology company, today reported its financial results for the fourth quarter and year ended December 31, 2021.
"Q4 2021 was another strong quarter for VERY GOOD, with solid year-over-year growth across our eCommerce and wholesale channels," said Mitchell Scott, co-founder and CEO of VERY GOOD. "We successfully expanded our presence in the US retail market, bringing our North American store count to 1,395 by the end of 2021 and 1,651 at the end of March 2022. Our revenue in Q4 2021 was 70% higher than the previous quarter and partly supported by seasonal demand for our holiday products including the Stuffed Beast."
"VERY GOOD achieved certain of its strategic objectives for 2021 including scaling production, deepening brand awareness, expanding into U.S. wholesale, and launching innovative new products. 2021 was a year focused on investment and top-line growth, and 2022 will be more measured and focused on establishing a clear path to profitability."
As previously announced, the Company is temporarily lowering production throughput and headcount at some locations, to manage inventory levels, and implementing initiatives, such as pausing non-critical capital expenditures and lowering general & administrative spending, to manage both short and long-term liquidity, extend its cash runway and establish a path towards profitability.
Financial Highlights
- Revenue in fiscal 2021 increased 164% to $12,258,783 as compared to $4,636,838 in fiscal year 2020 primarily driven by an increase of $5,895,292 in eCommerce sales and $1,588,582 in wholesale revenue due to the Company's scaling of production and distribution to meet demand in both sales channels. $5,267,144 of revenue was attributed to United States sales due to the Company's strategic focus on the United States market as a key growth opportunity for the future.
- Wholesale revenue increased 189% to $2,429,072 in fiscal 2021 compared to $840,490 in fiscal 2020.
- Wholesale distribution points1 increased 273% to 4,847 at the end of 2021 compared to 1,300 at the end of 2020. As at March 31, 2022, the Company had approximately 5,539 retail distribution points in 1,651 stores across North America.
- eCommerce sales increased 174% to $9,227,750 in fiscal 2021 compared to $3,382,458 in fiscal 2020.
- eCommerce orders fulfilled increased 149% to 100,473 in fiscal 2021 compared to 40,322 orders fulfilled in fiscal 2020.
- Gross margin was 28% of revenue and gross profit was $3,398,851 in fiscal 2021 compared to 18% and $827,106 in fiscal 2020.
- General and administrative expense2 was $32,129,489 in fiscal 2021 compared to $7,084,795 in fiscal 2020.
- Adjusted general and administrative expense2 increased 215% to $14,114,252 in fiscal 2021 compared to $4,484,044 in fiscal 2020.
- Marketing and investor relations expense increased 248% to $11,276,537 in fiscal 2021, compared to $3,243,210 in fiscal 2020, mainly due to an increase in digital marketing initiatives of $6,416,848, wages and benefits of $764,068 and share-based compensation expense of $856,481 due to the expansion of the marketing team to support sales growth.
- Net loss2 was $(54,559,923) in fiscal 2021 compared to $(13,858,800) in fiscal 2020.
- Adjusted EBITDA2 was a loss of $(24,253,335) in fiscal 2021 compared to $(8,344,117) in fiscal 2020.
As of December 31, 2021, the Company had cash and cash equivalents of $21,975,653. The Company has experienced a greater than expected cash burn in the last several months as the Company scaled its operations to meet its growth targets, which has reduced its cash position and has strained its short-term liquidity. We believe we have sufficient cash on hand and available liquidity to meet our future operating expenses and finance our operational, core capital expenditure and debt service requirements for approximately the next 3 to 5 months. The Company is currently evaluating financing options to support the business with as little dilution as possible.
Operational Highlights
Production Update
- Increased Stuffed Beast production and distribution for the 2021 holiday season. The product can be found in 123 Real Canadian Superstore locations nationally and 40 Loblaw and Zehrs stores throughout Ontario; along with other Canadian retailers such as WholeFoods, Thrifty Foods, La Moisson, Country Grocer, Natures Emporium, Organic Garage, Fiesta Farms, Good Rebel, Vegan Supply, and many more natural and independent stores.
- Launched three new products in Q1 2022: Spicy mmm…Meatballs- a spicy iteration of the NEXTY Award winning Mmmmm…Meatballs, and two plant-based ground meat products - A Cut Above Pork and A Cut Above Beef. The new plant-based grounds introduce VERY GOOD's offerings into a new subcategory of refrigerated plant-based meat.
- Began producing Taco Stuffer at the Patterson facility in California on a commercial grade kitchen in the fourth quarter of 2021 to meet growing sales volume driven by its expanded distribution at retail stores.
Capital Markets Update
- On October 13, 2021, VERY GOOD's common shares (the "Common Shares") commenced trading on the NASDAQ Capital Market under the ticker symbol "VGFC".
- On October 19, 2021, VERY GOOD completed an SEC-registered direct offering ("SEC Direct Offering" for gross proceeds of US$30,000,000. VERY GOOD has been using the net proceeds from the SEC Direct Offering to scale its operations, to expand its geographical reach, for research and development, for marketing initiatives and for general corporate and other working capital purposes.
- On January 11, 2022, VERY GOOD received notification from the Listing Qualifications Department of Nasdaq that, for the previous 30 consecutive business days, the bid price of the Common Shares had closed below the minimum US$1.00 per share requirement for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule"). The Nasdaq notification has no immediate effect on the listing of the Common Shares. VERY GOOD is also listed on the TSXV and the notification does not affect the Company's compliance status with such listing.
Under Nasdaq rule 5810(c)(3)(A), VERY GOOD has until July 11, 2022 to regain compliance with the Bid Price Rule. If at any time over this period the bid price of the Common Shares close at US$1.00 per Common Share or more for a minimum of 10 consecutive business days, VERY GOOD will regain compliance, unless Nasdaq exercises its discretion to extend this 10-day compliance period.
In the event the Company does not regain compliance, the Company may be eligible for an additional compliance period of 180 calendar days. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards of the Nasdaq Capital Market, with the exception of the Bid Price Rule, and will need to provide written notice of its intention to cure the deficiency during this second compliance period. If the Company does not qualify for the additional compliance period, then the Common Shares will be subject to delisting, at which time the Company may appeal the delisting determination to a Nasdaq Hearings Panel.
The management's discussion and analysis for the period and the accompanying financial statements and notes are available under the Company's profile on SEDAR at www.sedar.com and have been furnished on a Report on Form 6-K on EDGAR at www.sec.gov. VERY GOOD will also file an Annual Report on Form 20-F no later than April 30, 2022, which will incorporate by reference the Company's annual filings and will be available on EDGAR at www.sec.gov.
Q4 and Fiscal Year End 2021 Conference Call Details
VERY GOOD will host a conference call on Tuesday, April 5, 2022 at 4:30 pm Eastern Time/ 1:30 am Pacific Time to discuss the financial results and business outlook.
Participant Dial-In Numbers:
Toll-Free: 1-877-425-9470
Toll / International: 1-201-389-0878
* Participants should request The Very Good Food Company Fourth Quarter Earnings Call.
The call will be available via webcast on VERY GOOD's investor page of the Company website at www.verygoodfood.com/investors until April 30, 2022. Participants who would like to ask a question during the live Q&A must login via webcast.
Please visit the website at least 15 minutes before the call to register, download, and install any necessary audio software. A replay of the call will be available on VERY GOOD's investor page approximately two hours after the conference call has ended.
Financial Highlights
Consolidated Statements of Financial Position
(Expressed in Canadian dollars)
Consolidated Statements of Net Loss and Comprehensive Loss
(Expressed in Canadian dollars)
Consolidated Statements of Cash Flows
(Expressed in Canadian dollars)
NON-IFRS FINANCIAL MEASURES
Non-IFRS financial measures are metrics used by management that do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies.
Adjusted EBITDA
Management defines adjusted EBITDA as net loss before finance expense, tax, depreciation and amortization, share-based compensation and other non-cash items, including impairment of goodwill, loss on disposal of equipment, loss on termination of leases, finance expense and shares, units and warrants issued for services. Management believes adjusted EBITDA is a useful financial metric to assess its operating performance because it adjusts for items that either do not relate to the Company's underlying business performance or that are items that are not reasonably likely to recur.
Gross Profit and Gross Margin
Management utilizes gross profit and gross margin to provide a representation of performance in the period, which are determined by deducting procurement expense from revenue.
Adjusted General and Administrative Expense
Management defines adjusted general and administrative expense as general and administrative expense excluding non-cash items such as share-based compensation and depreciation expense. Management believes adjusted general and administrative expense provides useful information as it represents the corporate costs to operate the business excluding any non-cash items.
About The Very Good Food Company Inc.
The Very Good Food Company Inc. is an emerging plant-based food technology company that produces nutritious and delicious plant-based meat and cheese products under VERY GOOD's core brands: The Very Good Butchers and The Very Good Cheese Co. www.verygoodfood.com.
OUR MISSION IS LOFTY, BADASS BUT BEAUTIFULLY SIMPLE: GET MILLIONS TO RETHINK THEIR FOOD CHOICES WHILE HELPING THEM DO THE WORLD A WORLD OF GOOD. BY OFFERING PLANT-BASED FOOD OPTIONS SO DELICIOUS AND NUTRITIOUS, WE'RE HELPING THIS KIND OF DIET BECOME THE NORM.
ON BEHALF OF THE VERY GOOD FOOD COMPANY INC
Mitchell Scott
Founder and Chief Executive Officer
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws in Canada and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including Section 21E of the Securities Exchange Act of 1934, as amended (collectively referred to as "forward-looking information"), for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward-looking information may be identified by words such as "plans", "proposed", "expects", "anticipates", "intends", "estimates", "may", "will", and similar expressions. Forward-looking information contained or referred to in this news release includes, but is not limited to, statements regarding the Company's plans to lower throughput and headcount at some locations, manage inventory levels and implement initiatives, such as temporarily pausing non-critical capital expenditures and lowering SG&A spending, to manage both short and long-term liquidity, extend its cash runway and establish a path towards profitability; the Company's ability to meet its future operating expenses and finance our operational, capital expenditure and debt service requirements for approximately the next three to five months; the Company's use of proceeds from the SEC Direct Offering; the Company's plan to file an Annual Report on Form 20-F by April 30, 2022; the Company's intended transition from a focus on top line growth to balancing top line growth and profitability; future workforce reductions; management's belief that the initiatives being implemented will allow the Company to manage both its short-term and long-term liquidity and increase its cash runway; and management's efforts to evaluate ways to support the business with as little dilution as possible. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information, but which may prove to be incorrect including, but not limited to, material assumptions with respect to the Company's ability to successfully implement the cost improvement initiatives and measures and achieve their intended benefits, the Company's ability to remain listed on the Nasdaq, the availability of sufficient financing on reasonable terms or at all to fund VERY GOOD's capital and operating requirements, the Company's ability to accurately forecast customer demand for its products and manage its inventory levels, continued demand for VERY GOOD's products, continued growth of the popularity of meat alternatives and the plant-based food industry, no material deterioration in general business and economic conditions, the successful placement of VERY GOOD's products in retail stores, VERY GOOD's ability to successfully enter new markets and manage its international expansion, VERY GOOD's ability to obtain necessary production equipment and human resources as needed, VERY GOOD's relationship with its suppliers, distributors and third-party logistics providers, and management's ability to position VERY GOOD competitively. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because VERY GOOD can give no assurance that such expectations will prove to be correct. Risks and uncertainties that could cause actual results, performance or achievements of VERY GOOD to differ materially from those expressed or implied in such forward-looking information include, among others, the impact of, uncertainties and risks associated with negative cash flow and future financing requirements to sustain and grow operations, limited history of operations and revenues and no history of earnings or dividends, competition, risks relating to the availability of raw materials, risks relating to regulation on social media, expansion of facilities, risks related to credit facilities, dependence on senior management and key personnel, availability of labour, general business risk and liability, regulation of the food industry, change in laws, regulations and guidelines, compliance with laws, risks related to third party logistics providers, unfavorable publicity or consumer perception, increased costs as a result of being a United States public company, product liability and product recalls, risks related to intellectual property, risks relating to co-manufacturing, risks related to expansion into the United States; risks related to our acquisition strategy, taxation risks, difficulties with forecasts, management of growth and litigation as well as the risks associated with the ongoing COVID-19 pandemic. For a more comprehensive discussion of the risks faced by VERY GOOD, please refer to VERY GOOD's most recent Annual Information Form filed with Canadian securities regulatory authorities at www.sedar.com and as an exhibit to the Form 6-K filed with the SEC on March 31, 2022 and available at www.sec.gov. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available. Any forward-looking information speaks only as of the date of this news release. VERY GOOD undertakes no obligation to publicly update or revise any forward-looking information whether because of new information, future events or otherwise, except as otherwise required by law. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
None of the Nasdaq Stock Market LLC, TSX Venture Exchange, the SEC or any other securities regulator has either approved or disapproved the contents of this news release. None of the Nasdaq, the TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), the SEC or any other securities regulator accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE The Very Good Food Company Inc.
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https://www.wibw.com/2022/04/01/another-solid-month-us-hiring-expected-despite-obstacles/
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Another solid month of US hiring expected despite obstacles
(AP) - Defying a pandemic and supply chain disruptions, the U.S. economy has cranked out more than 400,000 jobs every month for nearly a year — a blazing winning streak in wildly uncertain times.
And despite surging inflation, the hiring wave likely continued last month in the face of yet another jolt: Russia’s war in Ukraine, which has unsettled the economic outlook and catapulted gasoline prices to painful levels.
Economists surveyed by the data firm FactSet expect the Labor Department’s jobs report for March to show that employers added 478,000 jobs and that the unemployment rate dipped from 3.8% to 3.7%. That would mark the lowest unemployment rate since just before the pandemic struck two years ago, when joblessness reached a 50-year low of 3.5%.
The government will issue the March jobs report at 8:30 a.m. Eastern time Friday.
“With the war in Ukraine, economic uncertainty rising and surging energy prices, we may see a modest slowdown in hiring in March,’’ said Daniel Zhao, senior economist at the jobs website Glassdoor. “However, employer demand remains strong, which should sustain a healthy level of hiring.’’
The booming U.S. job market reflects a robust rebound from the brief but devastating coronavirus recession, which wiped out 22 million jobs in March and April 2020 as businesses shut down or cut hours and Americans stayed home to avoid infection.
But the recovery has been swift. Fueled by generous federal aid, savings amassed during the pandemic and ultra-low borrowing rates engineered by the Federal Reserve, U.S. consumers have spent so fast that many factories, warehouses, shipping companies and ports have failed to keep pace with their customer demand. Supply chains have snarled, forcing up prices.
As the pandemic has eased, consumers have been broadening their spending beyond goods to services, such as health care, travel and entertainment, which they had long avoided during the worst of the pandemic. The result: Inflation is running at 40-year highs, causing hardships for many lower-income households that face sharp increases for such necessities as food, gasoline and rent.
It’s unclear whether the economy can maintain its momentum of the past year. The government relief checks are gone. The Fed raised its benchmark short-term interest rate two weeks ago and will likely keep raising it well into next year. Those rate hikes will result in more expensive loans for many consumers and businesses.
Inflation has also eroded consumers’ spending power: Hourly pay, adjusted for higher consumer prices, fell 2.6% in February from a year earlier — the 11th straight month in which inflation has outpaced year-over-year wage growth. According to AAA, average gasoline prices, at $4.23 a gallon, are up a dizzying 47% from a year ago.
Squeezed by inflation, some consumers are paring their spending. The Commerce Department reported Thursday that consumer spending rose just 0.2%% in February — and fell 0.4% when adjusted for inflation — down from a 2.7% increase in January.
Still, the job market has kept hurtling ahead. Employers posted a near-record 11.3 million positions in February. Nearly 4.4 million Americans quit their jobs, a sign of confidence that they could find something better.
“We’re still seeing a very tight labor market,’’ said Karen Fichuk, CEO of the staffing company Randstad North America, who noted that the United States now has a record 1.7 job openings for every unemployed person.
Even so, so many jobs were lost in 2020 that the economy still remains more than 2 million shy of the number it had just before the pandemic struck. Over the past year, employers have added an average of 556,000 jobs a month. At that pace — no guarantee to continue — the nation would recover all the jobs lost to the pandemic by June. (That still wouldn’t include all the additional hiring that would have been done over the past two years under normal circumstances.)
Brighter job prospects are beginning to draw back into the labor force people who had remained on the sidelines because of health concerns, difficulty finding or affording daycare, generous unemployment benefits that have now expired or other reasons.
Over the past year, 3.6 million people have joined the U.S. labor force, meaning they now either have a job or are looking for one. But their ranks are still nearly 600,000 short of where they stood in February 2020, just before the pandemic slammed into the economy.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/2022/04/01/friday-forecast-more-seasonal-highs-today/
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Friday forecast: More seasonal highs today
Staying mild this weekend
TOPEKA, Kan. (WIBW) - After a couple cool days, temperature are going to be warming back in the 60s for most areas not only today but into the weekend.
There will be several chances for rain in the next 8 days however none that stand out as significant widespread ‘drought’ busters. This means there aren’t any widespread rain chances that models have remained consistent on. There is a low to no chance for t-storms with any rain chances that move through for the next 8 days.
You’ll also notice a lot of cloud cover for most days in the 8 day forecast however there will be sun at times on several of the days so this will be fine-tuned each day.
Today: Increasing Clouds. Slight chance of rain in north-central KS after 4pm. Highs in the low-mid 60s. Winds S 5-15, gusts around 25 mph.
Tonight: Scattered rain showers through 3am. Most spots will likely get less than 0.10″. Lows in the upper 30s-low 40s. Winds S/W 5-15 mph.
Tomorrow: Sunny. Highs in the low-mid 60s. Winds NW 5-15, gusts around 20 mph.
Sunday: Partly to mostly cloudy. Highs in the mid 60s to around 70°. Winds S 5-15, gusts around 25 mph.
The rain chance has been removed for Sunday night as most models keep the area dry with a better chance for rain moving in late Monday into Monday night. As of now it looks like most of Tuesday is dry with another chance of rain moving in Tuesday night. Depending how much cloud cover there is will depend on how warm it will get.
Taking Action:
1. Most of the rain late this afternoon and tonight will be light so if you have outdoor plans, the impacts will be low. No risk for lightning and rain won’t be heavy although it could be a brief light steady rain for a period of time.
2. While most of the rain next work week will be at night, keep checking the forecast daily in case confidence increases that rain could impact part of the daytime hours.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/pope-begs-forgiveness-indigenous-canada-school-abuses/
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Pope begs forgiveness of Indigenous for Canada school abuses
VATICAN CITY (AP) — Pope Francis apologized and begged forgiveness Friday for the “deplorable” abuses suffered by Indigenous Peoples in Canada’s residential schools, saying he was ashamed and indignant at all they had endured at the hands of Catholic educators.
Francis made the apology and vowed to visit Canada during an audience with dozens of members of the Metis, Inuit and First Nations communities who came to Rome seeking a papal apology and a commitment for the Catholic Church to repair the damage.
More than 150,000 native children in Canada were forced to attend state-funded Christian schools from the 19th century until the 1970s in an effort to isolate them from the influence of their homes and culture. The aim was to Christianize and assimilate them into mainstream society, which previous Canadian governments considered superior.
“For the deplorable conduct of those members of the Catholic Church, I ask forgiveness of the Lord,” Francis said. “And I want to tell you from my heart, that I am greatly pained. And I unite myself with the Canadian bishops in apologizing.”
The trip to Rome by the Indigenous was years in the making but gained momentum last year after the discovery of hundreds of unmarked graves outside some of the residential schools. The three groups of Indigenous met separately with Francis over several hours this week, culminating with Friday’s audience.
Francis spoke in Italian, and it wasn’t immediately clear if the audience understood what he had said, though they stood and applauded after he finished.
And the audience continued on with joyous performances of Indigenous prayers, drum, dance and fiddlers that Francis watched, applauded and at one point gave a thumbs up to. The Indigenous then presented him with gifts, including snow shoes.
The head of the Metis, Cassidy Caron, presented Francis with a bound book of their people’s stories: Much of what the Indigenous sought to accomplish during their meetings this week was to tell Francis the individual stories of loss and abuse that they suffered.
The Canadian government has admitted that physical and sexual abuse was rampant at the schools, with students beaten for speaking their native languages. That legacy of that abuse and isolation from family has been cited by Indigenous leaders as a root cause of the epidemic rates of alcohol and drug addiction on Canadian reservations.
Nearly three-quarters of the 130 residential schools were run by Catholic missionary congregations.
Last May, the Tk’emlups te Secwepemc Nation announced the discovery of 215 gravesites near Kamloops, British Columbia, that were found using ground-penetrating radar. It was Canada’s largest Indigenous residential school and the discovery of the graves was the first of numerous, similar grim sites across the country.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/2022/04/01/salina-woman-killed-thursday-morning-crash-icy-interstate-70/
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Salina woman killed Thursday morning in crash on icy Interstate 70
SALINA, Kan. (WIBW) - A Salina woman was killed Thursday morning in a crash that occurred on an icy overpass along Interstate 70 on the northwest side of Salina, authorities said.
The crash was reported at 7:45 a.m. Thursday on I-70, about a mile east of the Interstate 135 junction.
According to the Kansas Highway Patrol, a 2000 Toyota 4Runner was eastbound on I-70 on the overpass bridge when the driver lost control of the vehicle because of icy road conditions.
The 4Runner then veered into the median and struck a guardrail on the westbound side of the roadway. The vehicle then crossed the westbound lanes, overturned one or two times and came to rest on the north side of I-70 off the roadway.
The driver, Ellaina M. Brightbill, 42, of Salina, was taken to Salina Regional Health Center, where she was pronounced dead.
The patrol said Brightbill, who was alone in her vehicle, was wearing her seat belt.
Copyright 2022 WIBW. All rights reserved.
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Texas caseworkers: After Abbott’s order, investigations into transgender kids’ parents given priority
AUSTIN, Texas (AP) — When Texas Gov. Greg Abbott put in motion abuse investigations into the parents of some transgender kids, child welfare supervisor Randa Mulanax said what happened next strayed from normal protocols.
There was unusual secrecy, with texts and emails discouraged. Allegations about trans kids received elevated status. In Texas, fewer than three in 10 child welfare investigations end with findings that harm likely occurred — classified as “reason to believe” — but the changes looked to Mulanax like these cases would be predetermined from the start.
“It was my understanding that they wanted to be found ‘reason to believe,’” Mulanax told The Associated Press in her first interview since leaving the Texas Department of Family and Protective Services, where she worked for six years until quitting last month. “That’s why we were having to figure out a way to staff it up and see how we go about it, since it doesn’t match our policy right now.”
As early as Friday, the Texas Supreme Court could decide whether the state can resume at least nine investigations into the parents of transgender children. They are the first to fall on the radar of child welfare authorities since Texas’ Republican governor in February directed the state to begin handling reports of gender-confirming care for kids as child abuse — the first such order issued in the U.S.
The court fight in Texas comes as Republicans across the country are leaning into policies aimed at transgender Americans, most prominently through bans on transgender athletes on girls sports teams. But Texas is the only state where a GOP governor has greenlighted abuse cases against the parents of transgender children, which several current and departing Texas child welfare workers say was rushed into action and has sunk already low morale at their troubled state agency even deeper.
It is unclear how many Texas child welfare investigators — who are tasked with carrying out Abbott’s directive — have quit in protest. Mulanax is one of at least two state Child Protective Services workers who are leaving and added their names this week to a court brief that urged Texas’ justices to keep the investigations sidelined. Five other investigators who remain at the agency also signed on.
Abbott’s instructions to Texas child welfare officials takes aim at treatments for children that include puberty blockers and hormone therapy.
Patrick Crimmins, spokesman for the Texas Department of Family and Protective Services, declined comment Thursday, citing the ongoing lawsuit.
“We’re being so closely monitored on those type of cases that you wouldn’t be able to just say, ‘Oh, nothing to see,’” said Shelby McCowen, a child welfare investigator who called the directive the ‘last straw’ and is quitting after less than a year at the agency.
Texas completed more than 157,000 child welfare investigations in the last fiscal year, according to state data. McCowen said the cases involving parents of transgender families were drawing the same attention as child death investigations, and like Mulanax, said instructions were given not to discuss the cases through state emails or phones — only on personal devices, or face-to-face.
The cases were to be referred to as “special assignments” rather than using a case name or number, according to McCowen. She said upper managers told investigators a survey would be sent out internally to address questions about the directive, but none ever arrived.
“I don’t know how many times they go into the cases, but we’re told that if we get one of these cases, the documentation has to be almost instant because it’s being monitored,” she said.
Abbott’s directive goes against the nation’s largest medical groups, including the American Medical Association, which have opposed Republican-backed restrictions filed in statehouses nationwide. On Thursday, President Joe Biden marked Transgender Day of Visibility by denouncing such legislation, saying “the onslaught of anti-transgender state laws attacking you and your families is simply wrong.”
In pressing that the investigations in Texas be allowed to continue, Republican Texas Attorney General Ken Paxton’s office wrote that “if DFPS cannot investigate possible child abuse, children may be harmed — perhaps irreversibly — in the interim.”
Mulanax said if the investigations were to resume, she considers it unlikely that any children would be removed from their homes around Texas’ biggest cities, which are controlled by Democrats and where some county officials have already said they would reject such cases.
But in the event of a finding of harm, Mulanax said, putting in place what are usually other safety plans don’t make sense to her either. She said those options typically include required parental supervision or services such as therapy, which Mulanax said some of the families might already be doing.
“It was just a complete betrayal of the department,” she said.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/prnewswire/2022/04/01/aercap-signs-lease-agreements-ten-new-airbus-a320neo-aircraft-two-new-airbus-a330neo-aircraft-with-ita-airways/
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DUBLIN, April 1, 2022 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced it has signed lease agreements for ten new Airbus A320neo aircraft and two new Airbus A330neo aircraft with ITA Airways. The aircraft are scheduled to deliver beginning in 2023 through 2024. The integration of these new aircraft is in line with the fleet plan of the Italian flag carrier.
Peter Anderson, Chief Commercial Officer of AerCap, said, "We are very pleased to expand our relationship with ITA Airways through the lease of these twelve advanced-technology Airbus A320neo and A330neo aircraft. These aircraft will enable ITA Airways to expand its network, whilst advancing its commitment to maintain an environmentally friendly, fuel-efficient fleet. We thank the team at ITA Airways for the confidence they have placed in AerCap, and we look forward to building the partnership for many years to come."
Francesco Presicce, Chief Technology Officer of ITA Airways, said: "The integration of these new aircraft is perfectly in line with the Company's fleet plan. This agreement represents a further step in our strategy of building a new environmental-friendly fleet with leadingedge technologies which will optimize efficiency, quality of service and significantly reduce the environmental impact. ITA Airways places the best customer service at the centre of its strategy with a strong focus on sustainability. The collaboration with AerCap allows us to improve cost efficiencies across our fleet. I wish to thank the AerCap team for their cooperation.
AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle, Toulouse and other locations around the world.
This press release contains certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are "forward-looking statements". In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may," "might," "should," "expect," "plan," "intend," "will", "aim", "estimate," "anticipate," "believe," "predict," "potential" or "continue" or the negatives thereof or variations thereon or similar terminology. All statements other than statements of historical fact included in this press release are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, and may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors, including the impacts of, and associated responses to: the Covid-19 pandemic, our ability to successfully integrate GECAS' operations and employees and realize anticipated synergies and cost savings; and the potential impact of the consummation of the GECAS transaction on relationships, including with employees, suppliers, customers and competitors, that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements. As a result, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information regarding AerCap and to be added to our email distribution list, please visit www.aercap.com and follow us on Twitter www.twitter.com/aercapnv.
AerCap Holdings N.V.
65 St. Stephen's Green, Dublin 2, Ireland www.aercap.com
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https://www.wibw.com/prnewswire/2022/04/01/aex-vietnam-endorser-competition-begins/
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AEX Vietnam Endorser Competition Begins - 100,000 USDT Giveaways!
HO CHI MINH CITY, Vietnam, April 1, 2022 /PRNewswire/ -- With the launch of the Vietnam Operation Center, AEX Global started the Vietnamese Blockchain Eco-development Plan with 100,000,000 USD. Recently, AEX announced that they will launch the 'Vietnam Endorser Competition' activity on April 7, 2022. The top 3 endorsers will get over 2,000,000,000 VND rewards (valued at 100,000 USD), among which the champion will get 1,500,000,000 VND (valued at 66,666 USD), the prize for second place is 380,000,000 VND (valued at 16,666 USD), and the third place gets 150,000,000 VND (valued at 6,666 USD). The top 10 will get the rewards and customized NFT! AEX Global declares its global business expansion with a high endorsement bonus and endorsers voted by users is also in line with the current DAO principle in the blockchain ecosystem, which will further establish AEX Vietnam ecosystem. Endorser application link: https://forms.gle/ssyRqwTAi8kN9xXu8
Different from other crypto exchanges, AEX Global doesn't cooperate with sports stars for brand exposure, nine years of experience have led AEX to opt for a more ecologically oriented DAO style instead. By community voting to select the native KOL(s), Vietnam blockchain investors can deeply involve themselves in ecological construction and also share crypto finance development bonuses. Currently, AEX has launched dozens of ecological activities, providing global blockchain investors with diversified portfolios.
"AEX Global Vietnam Operation Center has launched a series of ecological activities for Vietnamese users, for example Vietnam Endorser Competition, Up To 1,000 USDT Registration Rewards, 100% Novice Finance APR, Trading Sharing Of 200,000 USDT, and KAI Token Giveaways In Listing Desk and so on. From the very first moment a user enters AEX.com, he/she can enjoy richer investment ideas and obtain higher returns as the platform provides them with comprehensive and complete finance events. AEX crypto service platform gathers business models such as Finance, Loan, Mining, and DeFi as it is striving to provide a stable, safe, and professional digital finance management service for users around the world", said by Brand spokesperson of AEX, Shergina Asya.
The closer you look, the further you see. AEX Global Service Platform is continually developing, and our goal is to provide 1 billion people with safe, complete, simple, and diversified crypto finance management service in the next 9 years.
Vietnam Endorser Competition is in full swing, up to 100,000 USDT Giveaway, rewards sending the top 10 competitors and the Champion gets 66,666 USDT!
Click to become an Endorser: https://forms.gle/ssyRqwTAi8kN9xXu8
AEX: https://www.aex.com/page/h5/m_regist.html#/newByInvite?from=q0c909
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SOURCE AEX exchange
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https://www.wibw.com/prnewswire/2022/04/01/afib-shareholder-alert-jakubowitz-law-reminds-acutus-shareholders-lead-plaintiff-deadline-april-18-2022/
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NEW YORK, April 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Acutus Medical, Inc. (NASDAQ: AFIB).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/acutus-medical-inc-loss-submission-form/?id=25386&from=4
This lawsuit is on behalf of all purchasers of Acutus common stock between May 13, 2021 and November 11, 2021, inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until April 18, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Acutus Medical, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (a) a material percentage of the Company's AcQMap imaging and mapping systems under evaluation had been randomly installed at sites with little, if any, consideration given to whether the healthcare providers at the selected locations were likely to adopt, or desire, the Company's products; (b) a material percentage of the AcQMap systems under evaluation had been installed in locations where the Company did not possess the infrastructure necessary to appropriately educate, train, and support medical service providers on the system's operations; (c) as a result of (a) and (b) above, defendants were in the process of designing a strategic plan to terminate and relocate approximately 20% of then-existing AcQMap systems evaluation arrangements; (d) the Company's management discussion and analysis was materially false and misleading and failed to disclose that the termination and relocation of approximately 20% of existing AcQMap systems evaluation arrangements was reasonably likely to have a material adverse effect on the Company's 2021 financial results; and (e) the Company's risk factor discussions were materially false and misleading and made reference to potential risks without disclosing that such risks were then-existing or adequately describing the specific nature of the risks then facing the Company.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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https://www.wibw.com/prnewswire/2022/04/01/afrm-shareholder-alert-jakubowitz-law-reminds-affirm-holdings-inc-shareholders-lead-plaintiff-deadline-april-29-2022/
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NEW YORK, April 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Affirm Holdings, Inc. (NASDAQ: AFRM).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/affirm-holdings-inc-loss-submission-form/?id=25394&from=4
This lawsuit is on behalf of all investors who purchased or otherwise acquired Affirm Holdings, Inc. securities on February 10, 2022 after the Company sent a Tweet concerning its Second Quarter 2022 financial results at approximately 1:15 p.m. EST.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until April 29, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to the filed complaint, on February 10, 2022 at approximately 1:15 p.m., Affirm issued a Tweet from its official account in which the Company disclosed certain metrics from its second quarter 2022 financial results. The Tweet, which was published prior to the Company's planned release of its financial results, portrayed a highly successful quarter, which included an increase in revenue of 77%. This caused Affirm's share price to spike nearly 10% in intra-day trading. The Tweet was materially misleading, in that it omitted to disclose the full details of Affirm's second quarter financial results. Affirm deleted the Tweet and released its full second quarter financial results ahead of schedule. The full financial results were lackluster – with the Company posting a loss of $0.57 per share, compared with analyst expectations of $0.37 per share.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law
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https://www.wibw.com/prnewswire/2022/04/01/ai-shareholder-alert-jakubowitz-law-reminds-c3ai-inc-shareholders-lead-plaintiff-deadline-may-3-2022/
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NEW YORK, April 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of C3.ai, Inc. (NYSE: AI).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/c3-ai-inc-loss-submission-form/?id=25396&from=4
This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) C3.ai Class A common stock pursuant and/or traceable to the documents issued in connection with the Company's initial public offering conducted on or about December 9, 2020; and/or (b) C3.ai securities between December 9, 2020 and February 15, 2022, both dates inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 3, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, C3.ai, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) C3.ai's partnership with Baker Hughes was deteriorating; (ii) C3.ai was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (iii) C3.ai faced challenges in product adoption and significant salesforce turnover; (iv) the Company overstated, inter alia, the extent of its investment in technology, description of its customers, its total addressable market, the pace of its market growth, and the scale of alliances with its major business partners; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law
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https://www.wibw.com/prnewswire/2022/04/01/akba-shareholder-alert-jakubowitz-law-reminds-akebia-shareholders-lead-plaintiff-deadline-may-13-2022/
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NEW YORK, April 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Akebia Therapeutics, Inc. (NASDAQ: AKBA).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/akebia-therapeutics-inc-loss-submission-form/?id=25399&from=4
The lawsuit seeks to recover losses for shareholders who purchased Akebia between June 28, 2018 and September 2, 2020.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 13, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Akebia Therapeutics, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company's lead investigational product candidate, vadadustat, was not as safe in treating non-dialysis dependent chronic kidney disease patients with anemia as defendants had represented; (ii) as a result, defendants overstated the clinical prospects of a Phase 3 clinical program for vadadustat; (iii) accordingly, defendants also overstated vadadustat's overall commercial and regulatory prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law
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https://www.wibw.com/prnewswire/2022/04/01/alten-technology-usa-syncroness-merge-strengthen-us-engineering-service-offerings/
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Merger brings decades of engineering and IT consulting experience together under one roof
TROY, Mich., April 1, 2022 /PRNewswire/ -- ALTEN Technology USA Inc. and Syncroness Inc. have merged under the name ALTEN Technology USA Inc. This merger combines decades of project-based engineering and IT consulting experience so clients can benefit from a wider array of service offerings on a larger scale across the U.S. and around the world.
Both ALTEN Technology USA and Syncroness have provided engineering consulting, product development and IT consulting services to clients for more than 20 years. Going forward, ALTEN Technology USA will support the aerospace, defense, automotive, industrial, rail, medtech, energy and environment, life science and robotics and unmanned systems industries.
According to Brian Wyatt, COO of ALTEN Technology USA, "Combining Syncroness' 20-plus years of specialized product development experience with ALTEN's scale and global footprint will enable us to provide our clients with even more value while cultivating deeper relationships, which is what our business is all about."
Mike Walraven, CEO of Syncroness, agrees: "This merger will allow us to better serve our clients by working on bigger and more complex projects while retaining our commitment to providing our clients with high-quality work and world-class talent."
ALTEN Technology USA will remain a wholly owned subsidiary of the ALTEN Group, a French multinational engineering and IT consulting company founded in 1988. The ALTEN Group operates in 30 countries across Europe, North America, Asia, Africa and the Middle East and has more than 40,000 employees worldwide. Syncroness was acquired by the ALTEN Group in 2017 but operated independently until this merger.
For more information about ALTEN Technology USA, please visit www.altenusa.com.
About ALTEN Technology USA: ALTEN Technology USA is an engineering consulting company that provides innovative solutions for engineering, IT and product development projects across the product life cycle. For decades, ALTEN Technology USA has been helping clients develop products that are changing the world, whether by shaping the future of space exploration, saving lives with medical devices that set new standards of care or creating the fully autonomous electric taxi of tomorrow. The company provides support across industries including aerospace, defense, medtech and life sciences, unmanned systems and robotics, automotive OEM and Tier 1 suppliers, commercial vehicles, electric vehicles, energy and environment, rail and more.
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https://www.wibw.com/prnewswire/2022/04/01/april-is-national-safe-digging-month/
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Southwest Gas reminds the public to stay safe and call 811 before digging
PHOENIX, April 1, 2022 /PRNewswire/ -- Nearly two in five homeowners throughout the country will put themselves – and their communities – at risk by not calling 811 before beginning digging projects*. April is historically the beginning of the dig season in many of our service areas and is recognized nationally as Safe Digging Month.
It's important for professional excavators and do-it-yourself homeowners to know that one easy, free phone call to 811 quickly begins the process of getting underground utility lines marked for free. Call 811 is for residential and commercial digging jobs of all sizes, from planting trees and mailbox installation to large construction projects. Completing this process before starting any digging project is critical to preventing accidents. The annual societal cost of damages to underground infrastructure nationally exceeds $30 billion.
While damages to Southwest Gas infrastructure dipped slightly in 2021, 32% of pipeline damages in our service territories were caused by a failure to call 811 at least two working days in advance, which matches the national figure.
Anyone who thinks they may have damaged an underground pipeline, even if they're not a natural gas customer, should leave the area immediately and call 911 and Southwest Gas at 877-860-6020. A natural gas leak can be detected by a distinct sulfur-like odor, similar to rotten eggs, even if it's faint or momentary. Unusual hissing or roaring coming from the ground or an above-ground pipeline, bubbling water and discolored plants or grass surrounding a pipeline can also be signs of a leak.
For more information about the Call 811 process and natural gas safety, visit swgas.com/safety.
Southwest Gas Corporation proudly serves more than two million customers in Arizona, California and Nevada, safely and reliably. For more information about Southwest Gas, please visit www.swgas.com.
*Courtesy Common Ground Alliance 2021 Omnibus Study
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https://www.wibw.com/prnewswire/2022/04/01/astr-shareholder-alert-jakubowitz-law-reminds-astra-shareholders-lead-plaintiff-deadline-april-11-2022/
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NEW YORK, April 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Astra Space Inc. f/k/a Holicity Inc. (NASDAQ: ASTR).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/astra-space-inc-f-k-a-holicity-inc-loss-submission-form/?id=25385&from=4
The lawsuit seeks to recover losses for shareholders who purchased Astra between February 2, 2021 and December 29, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until April 11, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Astra Space Inc. f/k/a Holicity Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Astra cannot launch "anywhere"; (2) Astra significantly overstated its addressable market; (3) Astra overstated the effectiveness of its designs and reliability; (4) Astra significantly overstated its plans for diversification and its broadband constellation plan; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:
SOURCE Jakubowitz Law
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https://www.wibw.com/prnewswire/2022/04/01/barbara-bush-foundation-receives-16-million-grant-dollar-general-literacy-foundation/
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Award will support implementation of the first-ever multisector National Action Plan for Adult Literacy
WASHINGTON, April 1, 2022 /PRNewswire/ -- The Barbara Bush Foundation for Family Literacy is pleased to announce that it has received a grant of $1.6 million from the Dollar General Literacy Foundation to support implementation of the National Action Plan for Adult Literacy.
Conceived and convened by the Barbara Bush Foundation, the first-ever National Action Plan for Adult Literacy was developed in collaboration with more than 100 expert stakeholders including representatives from corporations and foundations; community organizations and associations; federal, state and local governments; academic experts; and edtech leaders. The plan was officially launched at the Foundation's National Summit on Adult Literacy in October 2021, which featured Dr. Jill Biden, First Lady of the United States, as keynote speaker.
This multisector, multiyear initiative aims to transform adult and family literacy for millions of Americans by driving inclusive, collective action to address systemic challenges over the next five years. The plan has three broad, mutually reinforcing goals:
- Access: Make literacy support services accessible to everyone who wants them.
- Quality: Ensure that literacy programs are effective and efficient in helping adults improve their reading, writing, digital and numeracy skills.
- Participation: Encourage more adults to engage in support programs that improve their literacy, digital and numeracy skills.
Today, 130 million Americans – 54% of adults between the ages of 16 and 74 years old – lack proficiency in literacy, essentially reading below the equivalent of a sixth-grade level. A 2020 Gallup study commissioned by the Barbara Bush Foundation found that the U.S. could be losing up to $2.2 trillion annually in GDP due to low adult literacy rates.
"Literacy is about so much more than words on a page. It's an issue of equity that is directly linked to the social and economic wellbeing of not only individuals and their families, but businesses, communities and our entire nation," said British A. Robinson, president and CEO of the Barbara Bush Foundation. "We couldn't ask for a better partner than the Dollar General Literacy Foundation, one of the nation's most steadfast voices for literacy, as we work to move the needle on this issue once and for all."
"The National Action Plan has the ability to transition our shared vision of a country in which adults can easily access high-quality, effective literacy support in their hometown communities to collective action," said Denine Torr, vice president corporate social responsibility and philanthropy for Dollar General and executive director of the Dollar General Literacy Foundation. "Working together, we can begin to address the opportunity gaps that exist and serve more students. We are very proud to partner with the Barbara Bush Foundation on this effort," said Torr, who also serves as a member of the Barbara Bush Foundation's board of directors.
The Dollar General Literacy Foundation recently announced a commitment of approximately $5 million in grants to five national organizations working to address the critical literacy needs identified in its newly released State of American Literacy Report. The two-year commitment to the Barbara Bush Foundation for Family Literacy will support implementation of the National Action Plan for Adult Literacy, with a focus on boosting literacy organizations, advancing professional development for teachers and identifying opportunity gaps.
About the Barbara Bush Foundation for Family Literacy: The Barbara Bush Foundation for Family Literacy has been the nation's leading advocate for family literacy for more than three decades. Established by former First Lady Barbara Bush in 1989, the Foundation is a public charity dedicated to creating a stronger, more equitable America in which everyone can read, write and comprehend in order to navigate the world with dignity. To learn more, visit www.BarbaraBush.org.
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https://www.wibw.com/prnewswire/2022/04/01/bd-announces-completion-embecta-corp-spinoff/
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FRANKLIN LAKES, N.J., April 1, 2022 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced that it has completed its spinoff of Embecta Corp. (embecta) (NASDAQ: EMBC), which holds BD's former Diabetes Care business and is now one of the largest pure-play diabetes management companies in the world.
"The completion of this spinoff is a significant achievement for both BD and embecta," said Tom Polen, chairman, CEO and president of BD. "While BD is proud of its heritage in the diabetes care category, we are just as excited to see our legacy advanced by embecta as a newly independent, publicly-traded corporation. Moving forward, each of our organizations will be able to focus on investment and innovation in our respective core businesses, support our customers and the patients they serve, drive strategic growth and enhance long-term shareholder value."
The spinoff of embecta demonstrates BD's ongoing commitment to the company's BD 2025 strategy, which includes its three strategic pillars of Grow, Simplify and Empower. The strategic rationale for the spinoff was to create two, independent companies with attractive long-term value for BD shareholders and enhanced strategic, operational and financial characteristics. Each company will focus on its core business and product portfolios, with BD maintaining its category leadership positions across its BD Medical, BD Life Sciences and BD Interventional segments.
embecta will focus on building on its solid foundation as the leading producer of diabetes injection devices, investing in both organic and inorganic growth opportunities and improving the lives of people living with diabetes.
Shareholders will receive one share of embecta common stock for every five common shares of BD that they held as of the close of business on March 22, 2022, the record date for the spin-off, with cash in lieu of any fractional shares of embecta common stock.
BD retains no ownership interest in embecta, which will begin trading today on the NASDAQ under the symbol EMBC on a "regular way" basis.
Perella Weinberg Partners LP, Morgan Stanley & Co. LLC, Wachtell, Lipton, Rosen & Katz, Skadden, Arps, Slate, Meagher & Flom LLP, Baker McKenzie, and PricewaterhouseCoopers are acting as advisors to BD in connection with the transaction.
Please visit investors.bd.com for additional information regarding the spinoff, including links to filings with the SEC.
About BD
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 75,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/ and Twitter @BDandCo.
Forward-Looking Statements This press release contains certain forward-looking statements (as defined under Federal securities laws) regarding BD and the spinoff of embecta, including the anticipated benefits of the spinoff. All such statements are based upon current expectations of BD and involve a number of risks and uncertainties. With respect to forward-looking statements contained herein, a number of factors could cause actual outcomes to vary materially. These factors include, but are not limited to, risks associated with the impact or terms of the spinoff, as well as other factors discussed in BD's filings and embecta's filings with the SEC. We do not intend to update any forward-looking statements to reflect events or circumstances after the date hereof except as required by applicable laws or regulations.
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NEW YORK, April 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Butterfly Network, Inc. f/k/a Longview Acquisition Corp. (NYSE: BFLY).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/butterfly-network-inc-f-k-a-longview-acquisition-corp-loss-submission-form/?id=25387&from=4
This lawsuit is one behalf of: (a) all persons or entities that purchased or otherwise acquired Butterfly securities between February 16, 2021 and November 15, 2021, both dates inclusive and/or (b) all holders of Butterfly common stock as of the record date for the special meeting of shareholders held on February 12, 2021 to consider approval of the merger between Longview Acquisition Corp. and Butterfly.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until April 18, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Butterfly Network, Inc. f/k/a Longview Acquisition Corp. issued materially false and/or misleading statements and/or failed to disclose that: (i) Butterfly had overstated its post-merger business and financial prospects; (ii) notwithstanding the ongoing COVID-19 pandemic, Butterfly's financial projections failed to take into account the pandemic's broad consequences, which included healthcare logistical challenges, and medical personnel fatigue; (iii) accordingly, Butterfly's gross margin levels and revenue projections were less sustainable than the Company had represented; (iv) all the foregoing was reasonably likely to have a material negative impact on Butterfly's business and financial condition; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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