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Investment to accelerate Sanctuary Wealth's growth and reshape the wealth management industry
INDIANAPOLIS, July 13, 2022 /PRNewswire/ -- Sanctuary Wealth, home to the next generation of elite advisors, announced it has closed a $175 million investment from Kennedy Lewis Investment Management ("Kennedy Lewis"), a leading opportunistic credit manager. The funds will be used to fuel Sanctuary Wealth's M&A strategy and the organic growth of its partner firms, including advancing key priorities that will enhance the company's technology solutions and talent management initiatives.
"Kennedy Lewis is the ideal partner to help us write the next chapter of Sanctuary Wealth's story," said Jim Dickson, CEO, and Founder of Sanctuary Wealth. "This partnership will propel us forward as we continue to invest in our technology and people, while also empowering our partner firms to reach the next level of their growth potential. Our acquisition strategy will further establish Sanctuary Wealth as an M&A leader in the independent advisory space."
"In a short period of time, the Sanctuary Wealth leadership team has built a world-class, client-first business that is poised to continue disrupting the highly fragmented U.S. RIA industry," said David K. Chene, Co-Founder of Kennedy Lewis. "This is an exciting opportunity for Kennedy Lewis to invest behind an innovative platform as it embarks on the next stage of growth."
Launched in 2018, Sanctuary Wealth is a holistic wealth platform for advisors who desire to own their businesses and values, allowing them to access the resources of a much larger organization. Sanctuary Wealth has accelerated its expansion in the past year, over which time it has onboarded 20 new advisor teams from across the country, taking assets under advisement to approximately $25 billion. Contributing to Sanctuary Wealth's growth is its Partnership Program, which helps independent advisors nearing retirement without a succession plan to engineer a sale to either fully or partially exit their business. In such situations, Sanctuary Wealth may act as a matchmaker to pair the exiting advisor with a partner firm from within the Sanctuary Wealth network, which has a strong appetite for growth through acquisition.
To assist partner firms in developing their own businesses to the fullest and meeting all of their clients' needs, Sanctuary Wealth has steadily built out the range of solutions on its multi-custodial hybrid platform including a new bespoke alternative investments platform, a Turnkey Asset Management Program ("TAMP") offering, insurance solutions, family office services, legacy planning, consumer and business lending solutions, as well as access to the industry's latest technology stack integrated into a best-in-class work station.
"It's been an exciting four years for Sanctuary Wealth and our partner firms, and we're only beginning to hit our stride," Dickson added. "This capital raise will allow us to continue delivering on our strategic goals and to run our own plays with the support of outstanding partners. We are also grateful to Azimut for their trust and confidence in Sanctuary Wealth; we are happy they will continue to be an investor who helps us expand the global reach of partnered independence."
Advisor Growth Strategies served as Sanctuary Wealth's exclusive financial advisor on the transaction, while Kilpatrick Townsend & Stockton LLP served as its legal counsel.
About Sanctuary Wealth
Sanctuary Wealth (sanctuarywealth.com/) is the advanced platform for the next generation of elite advisors, who have the entrepreneurial spirit to build and own their own practices and desire the freedom to deliver the tailored service their clients deserve. Sanctuary Wealth's ecosystem of partnered independence provides a complete technology and operations platform, as well as support from a community of like-minded advisors and the resources of invaluable affiliated businesses. Currently, the Sanctuary Wealth network includes 79 partner firms in 26 states across the country with approximately $25 billion in assets under advisement. Sanctuary Wealth includes the fully owned subsidiaries; Sanctuary Advisors LLC, an SEC-registered investment adviser, Sanctuary Securities, Inc. a FINRA member broker-dealer as well as Sanctuary Asset Management, Sanctuary Insurance Solutions, Sanctuary Global, and Sanctuary Global Family Office.
About Kennedy Lewis
Kennedy Lewis is an opportunistic credit manager founded in 2017 by David K. Chene and Darren L. Richman with more than $10 billion under management across private funds and CLOs. Kennedy Lewis' private funds primarily focus on middle-market companies facing disruption, whether it be cyclical, secular, or regulatory related. The firm also partners with high-growth companies that are causing disruption, providing structured capital solutions to fit their needs. For more information, please visit Kennedy Lewis' website at www.klimllc.com.
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SOURCE Sanctuary Wealth | https://www.wibw.com/prnewswire/2022/07/13/sanctuary-wealth-receives-175-million-growth-investment-kennedy-lewis-investment-management/ | 2022-07-13T12:39:03Z |
WASHINGTON (AP) — The head of the International Monetary Fund warned Thursday that Russia’s war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy.
IMF Managing Director Kristalina Georgieva said the consequences of Russia’s invasion were contributing to economic downgrades for 143 countries, although most of them should continue to grow. The war has disrupted global trade in energy and grain and is threatening to cause food shortages in Africa and Middle East.
Georgieva made her comments in a speech on the eve of next week’s spring meetings of the IMF and the World Bank in Washington.
An unexpectedly strong recovery from 2020’s pandemic recession has caught businesses by surprise, leaving factories, ports and freight yards unable to keep up with robust customer demand and forcing prices higher.
Chronically high inflation, which is forcing the world’s central banks to raise interest rates and likely slow economic growth in the process, amounts to “a massive setback for the global recovery,’’ Georgieva said.
Georgieva also warned of “the fragmentation of the world economy into geopolitical blocs,” with the West imposing far-reaching sanctions on Russia and China expressing support for the autocratic Russian regime of President Vladimir Putin.
“In a world where war in Europe creates hunger in Africa; where a pandemic can circle the globe in days and reverberate for years; where emissions anywhere mean rising sea levels almost everywhere — the threat to our collective prosperity from a breakdown in global cooperation cannot be overstated,” Georgieva said.
Before the war, Russia and Ukraine had supplied 28% of global wheat exports. And Russia and Belarus accounted for 40% of exports of the fertilizer potash.
“Now,’’ Georgieva said, “grain and corn prices are soaring, and leaders across Africa and the Middle East are telling me that supplies are running low. Food insecurity is a grave concern.
“We must act now with a multilateral initiative to bolster food security. The alternative is dire: More hunger, more poverty and more social unrest — especially for countries that have struggled to escape fragility and conflict for many years.’’
Georgieva called on the world to support the Ukrainians and noted that the IMF had delivered $1.4 billion in emergency financing to help Ukraine meet its immediate spending needs. The IMF is also offering assistance to Ukraine’s neighbors, including Moldova, which has accepted more than 400,000 war refugees.
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This story has been corrected to show that the IMF expects the Ukraine war to contribute to weaker economic growth for 143 countries, not 186. | https://cw33.com/business/ap-business/imf-chief-ukraine-war-and-inflation-threaten-global-economy/ | 2022-04-15T07:30:37Z |
TUSCALOOSA, Ala. (AP) — Nick Saban’s willingness to adapt and often be a catalyst for change in college football, both on the field and off, has propelled Alabama to six national championships in 13 seasons.
The 70-year-old coach is confident his program will continue to thrive during this new era of college athletics, with players having more opportunities to earn money than ever before and more power to determine where they play.
But the current state of college football has Saban concerned.
“I don’t think what we’re doing right now is a sustainable model,” Saban told The Associated Press in a recent interview.
That’s a common theme among coaches these days, with Clemson’s Dabo Swinney and Southern California’s Lincoln Riley among the most prominent who have echoed Saban’s sentiments. The combination of empowered athletes and easily accessible paydays is changing the way coaches go about their business.
The uncertainty comes with the NCAA in a weakened state following last year’s Supreme Court loss and in the midst of a dramatic restructuring. Schools and the NCAA itself would prefer federal legislation to regulate how athletes are compensated for their names, images and likenesses, but when that might come and in what form is unknown.
That has led to concerns about vast sums of money flowing in and around college athletics, including brazen entities called collectives put together by well-heeled donors whose donations have traditionally funded everything from lavish facilities to multimillion-dollar buyouts of fired coaches around Power Five conferences.
“The concept of name, image and likeness was for players to be able to use their name, image and likeness to create opportunities for themselves. That’s what it was,” Saban said. “So last year on our team, our guys probably made as much or more than anybody in the country.”
Paying a player to attend a particular school is still a violation of NCAA rules, but NIL deals have quickly become intertwined with recruiting — both high school prospects and the growing number of college transfers.
“But that creates a situation where you can basically buy players,” Saban said. “You can do it in recruiting. I mean, if that’s what we want college football to be, I don’t know. And you can also get players to get in the transfer portal to see if they can get more someplace else than they can get at your place.”
Riley told reporters last week NIL has “completely changed” recruiting.
“I think that anybody that cares about college football is not real pleased with that because that wasn’t the intention,” said Riley, who is in his first season at Southern California after five years at Oklahoma. “And I’m sure, at some point, there is going to be a market correction if you will, with recruiting.”
What exactly is going on with recruiting and NIL is hard to know for sure because it is mostly happening outside the purview of schools and the NCAA between parties with no obligation to publicly disclose deals.
A NIL contract drawn up for an unidentified blue-chip recruit reportedly could be worth up to $8 million. Earlier this year, Texas A&M coach Jimbo Fisher was angered by rumors the Aggies used millions in NIL money to sign the nation’s consensus No. 1 recruiting class for 2022.
Mississippi coach Lane Kiffin is among those who worry about conflicts in recruiting between coaches and emboldened boosters,
“I think that there’s going to start being issues potentially of donors and collective groups saying they want Player A from their area. And the coaching staff wants Player B,” Kiffin told AP.
Swinney told ESPN major college football needs a “complete blowup” that might result in something that looks more like professional football.
“I think you’ll have 40 or 50 teams and a commissioner and here are the rules,” he said.
Saban said he is not against the shift toward players being compensated and given more freedom to switch teams.
“We now have an NFL model with no contracts, but everybody has free agency,” said Saban, echoing a comparison Kiffin has made.
“It’s fine for players to get money. I’m all for that. I’m not against that. But there also has to be some responsibility on both ends, which you could call a contract. So that you have an opportunity to develop people in a way that’s going to help them be successful,” Saban said.
Saban, the highest-paid coach in college football with a salary of nearly $10 million last season, said the balance of power in the sport could tip toward the schools with the wealthiest collectives.
“So there’s going to have to be some changes implemented, some kind of way to still create a level playing field,” he said. “And there is no salary cap. So whatever school decides they want to pay the most, they have the best chance to have the best team. And that’s never been college football, either.”
Saban would prefer Alabama guarantee a set amount of money for every player who plays football for the Crimson Tide.
“We give everybody the same medical care, academic support, food service. Same scholarship. So if we’re going to do this, then everybody is going to benefit equally. I’m not going to create a caste system on our team,” Saban said.
LSU coach Brian Kelly supports a similar model, with players agreeing to sign over certain NIL rights for a base amount of compensation along with the ability for a school to help boost an individual’s brand.
“And we’ve got the best NFT, “ Kelly added, referring to the popular digital collectors’ items. ”Who can’t sell Mike the Tiger?”
Saban isn’t worried about the changing landscape derailing his dynasty. Alabama had more players on NFL rosters (53) than any school at the beginning of last season. The Tide’s track record of personal and professional development should remain attractive to top players, though maybe not quite as many as in the past.
Saban is OK with that.
“I know we have to adapt to that,” Saban said. “You’re going to have kids out there that say, ‘Well, I can get a better deal going someplace else,’ and they’ll go there. But you’re also going to have people that see the light and say, ‘Yeah, they’ve got a good history of developing players. They got a good history of developing people, they got a great graduation rate and that value is more important.’
“And they’re distributing money to everybody in the organization.”
___
Follow Ralph D. Russo at https://twitter.com/ralphDrussoAP and listen at http://www.appodcasts.com
___
More AP college football: https://apnews.com/hub/college-football and https://twitter.com/AP_Top25. | https://cw33.com/sports/ap-sports/saban-current-state-of-college-football-not-sustainable/ | 2022-04-13T19:57:14Z |
PHILADELPHIA, Aug. 1, 2022 /PRNewswire/ -- Drexel University's College of Medicine has announced a collaboration with MAPay, LLC, a global healthcare technology firm, to deploy a transformational healthcare payment and data exchange network that uses Non-Fungible Tokens (NFT's) to democratize healthcare data.
The collaboration will develop the technical foundation and market to solve for one of the most debated and contentious healthcare topics, patient data access. In today's world the patient does not truly own their own healthcare data and because of legacy healthcare data platform interoperability issues, a patient's healthcare history is often incomplete or inconsistently accessible. When healthcare data is not complete or accessible, it negatively impacts the quality of care available to a patient, the use of critical information for medical research and development, and the administrative cost of billing and collecting healthcare payments. Despite significant industry and regulatory efforts to increase patient accessibility and transparency of medical records, regardless of their care provider, data is still not available to be used in such a way that it enhances research and treatment efforts and produces better medical outcomes.
Michael Dershem, aka "Dersh," CEO of MAPay, asserts, "The medical industry has laid the groundwork for a solution to be realized, but they are still dependent upon inefficient, incumbent services to establish patient identity. Provider-to-provider identities are also not readily facilitated in today's health systems, which creates administrative and cost burdens when credentialing providers. These shortcomings are due to numerous legacy technical and business complexities including, yet not limited to, costs, competition, and privacy issues surrounding industry interoperability. MAPay brings an economically and technically viable solutions by leveraging blockchain technologies with its innovations in providing verifiable identities via a digital ledger."
A non-fungible token ("NFT") is a blockchain-based asset which is not interchangeable with any other (not fungible) assets. The MAPay patient data vault NFTs, which leverages the innovative Algorand blockchain, create immense potential to revolutionize healthcare by safely storing verifiable patient information and providing a more complete healthcare history to care teams and other required health services. The ability to integrate this data into healthcare models for predictive diagnostics through contextual biomarkers, facilitate employer reward mechanisms, and provide verifiable, but deidentified, patient data for public health assessment, will drive a new era in health-driven big data analysis and care.
"We are extremely excited about this collaboration with MAPay," said Charles B. Cairns, MD, senior vice president of Medical Affairs and dean of the College of Medicine. "This initiative will be transformational particularly in underserved areas. It is not a question of should this be done it is an answer that it must be done for the future in medicine." Further added Cairns, "Because this touches so many distinct aspects of healthcare, a multi-disciplinary approach is needed. We have built a mosaic of Drexel colleges including; Business, Medical and Technology and coupled with a private sector industry leader of the likes of MAPay is a tremendous sandbox for transformation."s
The model will also provide incentives and rewards to patients that choose to leverage their data for industry use. The structure of the data will allow simplified, more structured, ways to target users with a certain set of criteria needed for research, and the ability for patients to provide deidentified, verifiable data, for a fiscal reward. The pool of rich data and a marketplace to access it, creates an industry shifting paradigm in research and development outcomes.
The future promise of healthcare depends on the availability and sharing of patient data. Because of business and technology reasons, however, this data remains stuck in silos. Conventional approaches to aggregating healthcare information for impact in research and population health management have been plagued with the business, structural and regulatory conflicts of obtaining and using data. If this data could be accessed and used by a broader community, it could provide price transparency, anonymized data for research and cures, and limit societal medical costs related to fraud and abuse. MA Pay and Drexel University College of Medicine will use transformational technologies to create transformational outcomes in patient care, research, and healthcare access.
Patient-centric data interoperability goes beyond enabling EHR's to move data between one another or deriving relevant information from multiple unstructured data fields in many different systems. It puts the data into an individual's control and creates a communal context by allowing NFT pools to be accessed and used for the greater health ecosystem. We will be changing Healthcare to Humancare, as it should be a global citizen and community," Dershem ended.
The latest move helps expand the geographic scope of one of the nation's largest medical colleges. Today, Drexel University College of Medicine trains 1,100 medical students, 1 in 83 medical students in the United States. The college also spans 900 graduate students and 2,700 full-time, part-time, and volunteer faculty. In addition to its Philadelphia-based Queen Lane campus, the college opened a four-year regional medical campus, the College of Medicine at Tower Health in West Reading, in August 2021.
MAPay is a global healthcare fintech company that is deploying distributed ledger technology to power smart contracts, transacting secure medical solutions. The company has developed a hybrid architecture of both centralized and decentralized protocols for multi-party medical payments and HIPAA-compliant data exchange. MAPay is working in association with hospital networks, practice management systems, drug companies, insurance payers and government entities.
The company is committed to empowering patients and healthcare providers by leveraging blockchain technology to improve and align incentives, reduce costs, and bring increased transparency and data exchange. The company believes in permissionable open-sourced system collaboration, and solution sets that are economically and socially impactful. For more information, please visit https://www.mapaycorp.com/
MEDIA CONTACT: Algorand@dittopr.co
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SOURCE MAPay | https://www.wibw.com/prnewswire/2022/08/02/mapay-healthcare-payments-innovator-drexel-university-college-medicine-seek-achieve-healthcare-data-interoperability-through-blockchain/ | 2022-08-02T16:58:14Z |
Strategic investment, client involvement accelerate feature delivery as Learn Ultra adoption rises 30%
BOCA RATON, Fla., July 11, 2022 /PRNewswire/ -- Anthology, a leading provider of education solutions that support the entire learner lifecycle, today announced a 46 percent increase in the number of courses designed using Blackboard Learn Ultra, and a 30 percent increase in the number of institutions deploying Learn Ultra courses, year over year.
Following the merger with Blackboard, Anthology tripled Learn Ultra development resources and increased opportunities for client feedback in the development process, a strategy that continues to power a rising cadence of new features and enabled the largest Learn Ultra release to-date delivered this July. These new features are accelerating adoption and helping institutions leverage data to better serve students when used alongside new tools like Blackboard Data Reporting.
In just the last six months, institutions that have selected or upgraded to Learn Ultra include Grand Valley State University, the Florida Department of Agriculture's Division of Food, Nutrition and Wellness, Honoris United Universities, Rogers State University, the University of Mindanao, and the 711th Human Performance Wing, United States Air Force School of Aerospace Medicine, among others.
"The pandemic expedited a paradigm shift in higher education. We're going online and mobile and Anthology is here to help," said Nick Hryhorczuk, Academic Director of Online Learning at Morton College. "They're constantly releasing new features for Learn Ultra. They listen to the industry, get feedback from faculty and students and are on the cutting edge of higher ed tech."
With a research-informed approach that involves clients throughout the development process, Blackboard Learn Ultra users benefit from significant improvements to the learning experience aligned with the pedagogical preferences of instructors. The most recent releases of Learn Ultra have delivered new enhancements driven by this inclusive process, including:
- An improved and more personalized student test-taking experience, including student visibility into progress during a test, the option to hide the timer to help with test anxiety, filters to accommodate different test taking strategies and reminders about unanswered questions.
- Increased instructor control around how tests and assignments are displayed, like the ability to display one question at a time and prevent backtracking, and more engaging assessment experiences through inline file rendering. New features also increase instructor control over how a test should behave, allowing them to determine when the student can view their submission, instructor feedback and grades.
- Greater flexibility to support student self-expression, including the opportunity to provide a preferred name and pronouns, record a name pronunciation, and more control over how this information is presented to peers.
"Ultra is fantastic for providing flexibility and making sure that we provide an inclusive experience to all our students," said Anne-Gaelle Colom, Assistant Head of School at University of Westminster.
In conjunction with accelerating feature development and deployment, Blackboard Data Reporting is now widely available to Learn clients to help institutional leaders tap learner data for actionable insights. Designed to lower the barriers to data-informed decision-making, Blackboard Data Reporting generates reports, dashboards and visualizations that look across all courses, instructors and students. This comprehensive view provides understanding about tool adoption, course design and student engagement, and ultimately enables leaders to build an experience that fuels learner success.
"Anthology's Blackboard Learn Ultra is so much more than an LMS. When integrated with other core systems on campus, it becomes an essential tool in delivering the insights that institutions need to create more personalized experiences for students, and it will play a critical role in our Anthology iX™ product vision," said JD White, Chief Product Officer at Anthology. "We've tripled the size of our Learn development team in the last year and are working with universities in more than 70 countries to help them realize its full capabilities. This is just the beginning of what we expect to see ahead."
This news comes as education leaders and Blackboard Learn Ultra clients from around the world converge at Anthology Together, the company's first combined user conference with Blackboard.
Anthology offers the largest EdTech ecosystem on a global scale for education, recently combining with Blackboard to support more than 150 million users in 80 countries. With a mission to provide dynamic, data-informed experiences to the global education community, Anthology helps learners, leaders and educators achieve their goals through over 60 SaaS products and services designed to advance learning. Discover more about how we are fulfilling our mission for K-12, higher education, business and government institutions at www.anthology.com.
CONTACT:
Chelcee Coffman
Anthology
704-615-7603
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SOURCE Anthology | https://www.wibw.com/prnewswire/2022/07/11/blackboard-learn-ultra-adoption-builds-momentum-worldwide/ | 2022-07-11T17:37:45Z |
MEXICO CITY, April 20, 2022 /PRNewswire/ -- On April 19, The Official Daily of the Federation in Mexico authorized Todito as an Electronic Payment Fund Institution.
The authorization granted by The National Banking and Securities Comission comes to position the company as one of the few approved Fintechs in the country, thus providing greater confidence to Todito's investors and users.
In the Official Daily of the Mexican Federation (DOF) it is mentioned that the institution will be subject to the supervision of The National Banking and Securities Comission (CNBV) and The Bank of Mexico (BANXICO), in the exercise of their respective powers as well as other competent financial authorities under the terms provided by law.
Todito has been characterized by being in continuous evolution to offer its users a safe, easy, and simple way to manage their money and now with this regulation guarantees it in a forceful way.
Todito has 24 years in the financial market helping the country's financial inclusion.
Contacts:
(CFO) Guillermo Garza ggarza@toditopagos.com
(CXO) Eugenio Salinas esalinas@toditopagos.com
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SOURCE Todito Pagos | https://www.wibw.com/prnewswire/2022/04/20/todito-pagos-joins-list-authorized-fintechs/ | 2022-04-20T06:31:45Z |
MOUNT PLEASANT, S.C., June 27, 2022 /PRNewswire/ --The Advocate: Supporting the Patient Voice is excited to announce the results of its 2021/2022 US Focused Patient Advocacy report. The report provides an in-depth look at feedback from patient advocacy organizations (PAOs) and their relationship with the pharmaceutical community. It also introduces key themes & trends impacting patients, as well as data on how PAOs, Professional Societies/Associations (PAs / PSs) seek to better engage with pharmaceutical companies. This information will help stakeholders understand new & innovative ways they can best work with PAOs to improve healthcare for all patients. The Advocate would like to thank their many sponsors in the pharmaceutical community for making this report possible & for the respondents who gave their time & feedback!
In this year's report, The Advocate evaluated many key metrics for the patient advocates & patients alike. Matt Toresco, Editor-in-Chief of The Advocate commented on a few organizations & data reflected within the report:
- "Janssen held the position of the top patient advocacy organization, with four out of five 1st place rankings & one 3rd place ranking. Janssen has been at the top of the heap for almost a decade, and they continue to be noted for their high level of support, commitment to patients & always finding a way to make patients & their partners in patient advocacy feel heard."
- "Amgen realized one of the most precipitous jumps I have seen in my time in patient advocacy research. Patient advocates noted the 'immense value over funding,' Amgen provides, 'their collaborative nature,' and how Amgen 'works closely,' with advocacy organizations in their commitment to bring the patient voice both inside of Amgen & to the broader healthcare community as well."
- "AstraZeneca also showed immense improvement in many measures within our report. With many co-promote partners in the industry, its often difficult for an organization like AZ to stand out. However, they are doing all the right things at this time with advocates noting their 'development of deep relationships' and 'educational campaigns' to drive patient education.
- "Other organizations of note include Sanofi Aventis, making great strides with respiratory advocates, Astellas leading the way in Urology/Men's Health, Eli Lilly posting impressive rankings in many disease states, perennial powerhouse Pfizer remaining strong outside of their work with the COVID vaccine, and Merck showing great strength in the areas of "advancing patient treatment & patient/professional group relations."
- "A few new names appeared in this year's data including Horizon, AbbVie (who say fantastic growth & feedback), & BMS, a perennial top 10 finisher who found first place many times this year."
- "We would be remiss if we did not also mention the smaller biotech & pharmaceutical companies with small yet impactful teams making immense progress in impacting the lives of patients every day! Organizations like Neurocrine Biosciences, and Alnylam continue to make great strides in patient advocacy and work to assist patients in both today's mental health crisis & use of telemedicine."
The Advocate: Supporting the Patient Voice's goal is to understand the relationship between advocates & the pharmaceutical industry. It's their mission to ensure that patients remain at the center of all healthcare decisions - may it be in their doctor's office, within the walls of the Payer of PBM or up on Capitol Hill. We understand that the pharmaceutical community aligns with their mission in their goals to ensure patients get access to the products they & their physicians have decided. It seeks to serve as a beacon for the pharmaceutical community to always find their way back to the patient by elevating the voice of their loudest supporters – the advocacy organizations. The Advocate does this through a syndicated market research offering for the pharmaceutical community to gain insights into the needs of the patients they serve & the patient advocate organizations they fight side by side with on numerous issues. This report is provided both in the US and ex-US with an ex-US report focused on Asia, Canada, Latin America & Europe. The Ex-US is currently in fielding with the next round of the US focused report to begin fielding later in 2022.
The research and expertise of The Advocate allows them to guide today's pharmaceutical advocacy teams, aid in the development & implementation of patient centricity programs within pharmaceutical companies & consult on the use of the patient voice throughout the products lifecycle. Reach out to Matt & his team directly with any questions about the current report, or any previous or future reports at matt.toresco@thebrooksgrouponline.com or theadvocate@thebrooksgrouponline.com.
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SOURCE The Advocate: Supporting the Patient Voice | https://www.kxii.com/prnewswire/2022/06/27/advocate-supporting-patient-voice-releases-20212022-us-focused-patient-advocacy-report/ | 2022-06-27T13:04:04Z |
Forbes and iMore recommends Samsara's newly launched Tag Smart suitcase after reviewing the suitcase's design and tech features. Tag Smart is combined with the Apple AirTag to allow travelers to track their suitcase with the Find My app on their iPhone.
NEW YORK, May 6, 2022 /PRNewswire/ -- Samsara Luggage (OTCQB: SAML), maker of innovative travel products, received glowing reviews from leading press outlets on the heels of the launch of its new smart luggage collection – Tag Smart. Forbes says, "the integration of the Apple AirTag is well done and indicative of where the industry needs to shift." iMore, a publication focused on Apple products, recommended Samsara's "excellent trackable suitcase," and notes, "Having the AirTag secure in its designated compartment is not only safter, but since it's visible from the outside it could be a theft deterrent as well."
"We are thrilled by the positive reviews written in publications that are well-known and respected," says Atara Dzikowski, Co-founder & CEO, Samsara Luggage. "The pandemic has encouraged travelers to look for unique products that can ease travel. The Tag Smart collection provides travelers with valuable tracking information that will help them make informed decisions while traveling domestically or overseas."
Tag Smart by Samsara is combined with the Apple AirTag so travelers can track their suitcase using the Find My app on their iPhone. Using a Bluetooth signal, the iPhone maps your Samsara Luggage's location with precision and ease for a more effortless travel experience. The Tag Smart Device is included in the suitcase and designed to deliver on functionality and technology that is easy to navigate.
Samsara launched the 23" Carry-on Grand and plans to expand to the 21" Carry-on for international travelers and the Checked bag for the long-haul destinations. A Tag Smart device is included with the purchase of a Carry-on suitcase.
About Samsara Luggage:
Samsara Luggage, Inc. ("Samsara," "Samsara Luggage" or the "Company") (OTCQB: SAML) is a global smart luggage and smart travel brand with a deep belief in creating a world where travel isn't a hassle, but rather an effortless experience. By combining smart features, including Internet of Things (IoT) technology, innovative design and quality materials, Samsara is dedicated to transforming the travel industry with its products.
Samsara launched Sarah & Sam, a fashion and lifestyle collection in the fourth quarter of the 2020 fiscal year. Sarah & Sam leverages the Company's established digital assets and manufacturing and fulfillment supply chain capabilities to offer additional consumer products that respond to the changing needs of the market due to the coronavirus pandemic.
Forward-Looking Statements:
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "expects," "anticipates," "intends," "estimates," "plans," "potential," "possible," "probable," "believes," "seeks," "may," "will," "should," "could" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the Company's international manufacturing and supply chain, market acceptance of the Company's smart luggage, successfully implementing the Company's growth strategy, dependence on key Company personnel, changes in economic conditions, competition and other risks including, but not limited to, those described from in the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on April 11, 2022, and other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
Press Contact:
Eva Fattahi
347-839-0993
eva@samsaraluggage.com
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SOURCE Samsara Luggage Inc. | https://www.kxii.com/prnewswire/2022/05/06/press-calls-samsaras-new-tag-smart-collection-excellent-amazing-joy-use/ | 2022-05-06T14:36:59Z |
Highlights for the Six Months Ended December 31, 2021
- 48.4% Revenue Increase YoY to $18.2 Million
- 192.6% Increase YoY in Sales of Intelligent Pet Products
- 47.8% Gross Profit Expansion YoY to $7.1 Million
PLANO, Texas, May 26, 2022 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its unaudited financial results for the six months ended December 31, 2021.
Silong Chen, Chairman and Chief Executive Officer of Dogness, commented, "We achieved over 48% revenue growth for the six months ended December 31, 2021 compared to the prior period, led by the 192.6% sales increase of Dogness' intelligent pet products. Our team is flawlessly executing on our expanded product development and increased distribution to capture a greater share of the higher global demand for pet products. Our strategic decision to dedicate greater resources to produce and promote sales of higher margin intelligent pet products paid off with a 154.8% increase in sales volume for intelligent pet products for the six months ended December 31, 2021, as compared to the same period last year. Sales of our intelligent pet products accounted for approximately 54.5 % of total sales during the six months ended December 31, 2021, up from approximately 27.6% in the year ago period."
"We continued to expand our sales channels to more leading online and digital shopping platforms, as well as live streaming sales platforms hosted by influencers. These ecommerce sales normally have higher profit margin than traditional sales channels. The combination of our strategies led to a 58.0% increase in our average selling price during the six months ended December 31, 2021, as compared to the same period of 2020. At the same time, we continue to upgrade our production lines for traditional pet products to improve productivity and lower production costs. As a result, we have been able to lower our selling price for traditional pet products, but still maintain healthy profit margins. In addition, our sales strategy for traditional pet products helped us to successfully retain existing customers, attract new customers, and increase awareness for our intelligent pet products."
Silong Chen, Chairman and Chief Executive Officer of Dogness, concluded, "Dogness is firing on all cylinders despite the headwinds from COVID-19, supply chain constraints, global inflation, higher costs and logistics delays. We expect the headwinds will eventually start to lessen and we are well positioned for continued development led by our R&D track record, expanding intelligent product line and strong financial position. We expect to benefit from the booming pet culture in the key markets we serve worldwide, where more and more young consumers have become pet owners and are seeking the smart pet products Dogness specializes in, including our App-controlled smart pet food feeders, pet water fountains, pet tracking devices and smart pet toys. While we are pleased with our strong financial results, we are even more excited about the future. We have a very positive outlook for our business growth and remain focused on building value for our shareholders."
Financial Results for the Fiscal Six Months Ended December 31, 2021
Revenue for the six months ended December 31, 2021 increased 48.4% to $18.2 million from $12.2 million in the six months ended December 31, 2020. The increase in revenue was primarily attributable to a 192.6% increase in sales of Dogness' intelligent pet products, which are benefitting from high demand and a higher average selling price than the Company's traditional pet products. Dogness has built an integrated sales platform across all channels, with major customers including, Petco, PetSmart, Costco Wholesale Corporation, Sam's Club, Walmart, Target, QVC®, Pet Value, Pets at Home, PETZL, Petmate, Trendspark, Anyi Trading, IKEA, SimplyShe, and online shopping platforms, such as Amazon, Chewy.com, Boqii Holding Limited, Target.com, HomeDepot.com, Loews.com, Wayfair.com, JD, Tmall and Taobao, as well as live streaming sales platforms hosted by influencers.
During the six months ended December 31, 2021, Dogness' total sales in international markets increased by 65.9% to approximately $9.6 million from approximately $5.8 million for the same period last year, while domestic sales increased by 32.7% to approximately $8.5 million for the six months ended December 31, 2021 from approximately $6.4 million for the same period last year. Growth was led by a 73.5% increase in sales to the U.S., a 237.8% increase in sales to Japan and other Asian countries and regions, and a 32.7% increase in sales to mainland China.
Cost of revenues increased by approximately 48% to approximately $11.1 million for the six months ended December 31, 2021 from approximately $7.5 million in the year ago period. As a percentage of revenues, the cost of goods sold increased slightly by approximately 0.2 percentage points to 61.1% for the six months ended December 31, 2021 from 60.9% for the six months ended December 31, 2020. This was mainly because the Company continues to upgrade its production lines for both traditional and intelligent pet products to improve productivity and reduce production costs.
Gross profit increased by approximately 47.8%, to approximately $7.1 million for the six months ended December 31, 2021 from approximately $4.8 million for the six months ended December 31, 2020 primarily attributable to the increased sales volume of the Company's intelligent pet products, which have much higher gross profit than its traditional pet products. Overall gross profit margin was 38.9%, a decrease of 0.2 percentage points, for the six months ended December 31, 2021, as compared to 39.1% for the six months ended December 31, 2020.
Comprehensive income was approximately $2.2 million or $0.04 per basic and diluted share for the six months ended December 31, 2021 using 31,853,431 weighted average shares outstanding, compared to $4.9 million or $0.03 per basic and diluted share for the six months ended December 31, 2020 using 25,913,631 weighted average shares outstanding. The net income increase was the result of increased sales and gross profit, offset by increased cost of revenues, as discussed above.
The Company had a balance of cash and short-term investments of approximately $7.1 million as of December 31, 2021, compared to approximately $4.9 million as of December 31, 2020.
About Dogness
Dogness (International) Corporation was founded in 2003 from the belief that dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness' technology simplifies pet lifestyles and enhances the relationship between pets and pet caregivers. The Company ensures industry-leading quality through its fully integrated vertical supply chain and world-class research and development capabilities, which has resulted in over 200 patents and patents pending. Dogness products reach families worldwide through global chain stores and distributors. For more information, please visit: ir.dogness.com.
Forward Looking Statements
No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers' businesses and end purchasers' disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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SOURCE Dogness International Corporation | https://www.mysuncoast.com/prnewswire/2022/05/26/dogness-reports-fiscal-six-months-2022-financial-results/ | 2022-05-26T21:00:06Z |
The Habit Burger Grill Opens in San Rafael, CA on August 17th
IRVINE, Calif., Aug. 11, 2022 /PRNewswire/ -- The Habit Burger Grill, the California-based restaurant company renowned for its award-winning Charburgers grilled over an open flame, signature sandwiches, fresh salads and more announces the grand opening of a new location in San Rafael. Located at 496 Las Gallinas Ave. San Rafael, CA 94903, the fast-casual restaurant will serve up its 'Habit Hospitality' beginning August 17th.
In honor of the exciting grand opening, The Habit Burger Grill will host exclusive pre-opening VIP events for The Habit's CharClub members. Guests can receive an invite to this exclusive sneak peek by signing up for the CharClub at www.habitburger.com/sanrafael/.
- Free Charburger Day (Saturday, August 13th): The first 200 guests at 11:30 a.m. and 5 p.m. will receive a free freshly-made Charburger, fries and drink. Must be a CharClub member and present VIP invitation.
- Free Charburger Day (Monday, August 15th): The first 200 guests at 11:30 a.m. and 5 p.m. will receive a free freshly-made Charburger, fries and drink. Must be a CharClub member and present VIP invitation.
- Free Habit Day (Tuesday, August 16th): The first 200 guests at 11:30 a.m. and 5 p.m. will receive a free chargrilled meal from one of our pre-set menus. Must be a CharClub member and present VIP invitation.
The restaurant will offer dine-in and takeout ordering. Curbside pick-up and delivery will be available via The Habit Mobile App and online at order.habitburger.com. Guests also have additional convenient ordering options including state-of-the-art indoor self-serve kiosks and delivery through DoorDash, Postmates and Uber Eats.
"This is a very exciting announcement for our team at The Habit Burger Grill. We love our Northern California presence and are eager to serve even more of the North Bay community with this new restaurant in San Rafael," said Iwona Alter, Chief Brand Officer at The Habit Burger Grill.
The Habit Burger Grill was named in Thrillist's list of "Underrated Burger Chains that Need to be in Every State!" With its cooked-to-order mantra, The Habit Burger Grill's open flame sears a distinctive smoky flavor into their famous Charburgers, fresh marinated chicken, sushi-grade ahi tuna and tenderloin steak. Guests at The Habit Burger Grill can always count on freshly-made, handcrafted quality served up with genuine hospitality.
This Habit Burger Grill's dining room will be open Monday - Sunday from 10:30 am - 10:00 pm.
Connect with The Habit Burger Grill on social media at facebook.com/habitburgergrill, instagram.com/habitburgergrill, twitter.com/habitburger, tiktok.com/@habitburgergrill, and youtube.com/habittube.
Born in Santa Barbara, California in 1969, The Habit Burger Grill is a burger-centric, fast-casual restaurant concept that specializes in preparing fresh, cooked-to-order chargrilled burgers and handcrafted sandwiches featuring grilled tenderloin steak, grilled chicken and sushi-grade ahi tuna cooked over an open flame. In addition, it features fresh handcrafted salads and an appealing selection of sides and shakes. The Habit Burger Grill was named the "best tasting burger in America" in July 2014 in a comprehensive survey conducted by one of America's leading consumer magazines, named in Thrillist's list of "Underrated Burger Chains that Need to be in Every State!" and featured in Newsweek's "America's Favorite Restaurant Chains 2022." The Habit Burger Grill has since grown to over 335 restaurants in 14 states throughout Arizona, California, Florida, Idaho, Maryland, Massachusetts, Nevada, New Jersey, North Carolina, Pennsylvania, South Carolina, Utah, Virginia and Washington as well as 13 international locations, seven in China and six in Cambodia. More information is available at www.habitburger.com.
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SOURCE The Habit Burger Grill | https://www.wibw.com/prnewswire/2022/08/11/habit-burger-grill-announces-new-restaurant-san-franciscos-bay-area/ | 2022-08-11T16:55:38Z |
Key Highlights - Second Quarter 2022
- Generated adjusted net income of $63 million, or $1.17 per diluted share, excluding merger-related costs.
- Expanded net interest margin by 58 basis points to 3.69 percent.
- Grew average commercial loans, excluding warehouse loans, by 9 percent compared to the first quarter.
- Expanded portfolio of loans serviced or subserviced by 10 percent to nearly 1.4 million accounts and $0.3 trillion in UPB.
- Maintained strong asset quality with no nonperforming commercial loans at quarter-end and a 42 percent reduction in forbearance-related delinquent loans.
TROY, Mich., July 27, 2022 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC), the holding company for Flagstar Bank, today reported second quarter 2022 net income of $60 million, or $1.12 per diluted share, compared to first quarter 2022 net income of $53 million, or $0.99 per diluted share, and second quarter 2021 net income of $147 million, or $2.74 per diluted share. On an adjusted basis, Flagstar reported net income of $63 million, or $1.17 per diluted share, for the second quarter 2022.
"This quarter demonstrated the strength of our community bank as we grew net interest income and net interest margin and benefited from the rising rate environment," said Alessandro DiNello, president and chief executive officer of Flagstar Bancorp. "Our banking and servicing segments prospered, which allowed us to grow earnings by 13 percent compared to the first quarter.
"Net interest margin for Q2 was 3.69 percent — a 58 basis point improvement over the first quarter, now the highest net interest margin we have ever reported. This momentum in net interest margin continued into June where it reached 3.88 percent. Net interest income grew $28 million, or 17 percent, reflecting a full quarter's impact of our asset sensitivity strategies. We also grew our commercial loan portfolio by 9 percent, excluding warehouse. Additionally, our bankers maintained outstanding discipline on the deposit side of the balance sheet.
"Rising rates also helped us deliver a strong 16 percent return this quarter on our mortgage servicing rights portfolio. Additionally, we continue to grow our fee-generating servicing business as our portfolio of loans serviced or subserviced increased by 10 percent to nearly 1.4 million accounts.
"We faced continued pressure in mortgage revenue due to the unprecedented increases in mortgage rates and much lower volumes in retail, which is our highest margin channel. We expect the mortgage market to remain challenging for the foreseeable future, and we will continue to use our market position and scale to take the necessary actions to succeed in our unwavering commitment to profitability.
"Credit quality continues to hold up well. Our only nonperforming commercial credit returned to accrual status in the quarter and we saw a meaningful improvement in forbearance-related delinquencies. As a result, our allowance for credit losses decreased by $10 million, even with our growth in commercial loans.
"Our performance in the second quarter once again demonstrates the ability of our business model to deliver profits under any economic scenario. We're operating in the most unfavorable mortgage environment I have seen in my nine years as CEO, yet we produced a 1.0 percent return on assets largely on the strength of our banking and servicing businesses and our quick pivot to contain costs on the mortgage side. Given these results, I continue to be excited about the prospects for our performance for full year 2022."
Net Interest Income
Net interest income in the second quarter was $193 million, an increase of $28 million, or 17 percent, as compared to the first quarter 2022. The results primarily reflect an increase in net interest margin which was partially offset by a $0.6 billion, or 3 percent, net decrease in average earning assets. We grew our loans held for investment by $1.0 billion, led by our commercial portfolio. This growth was more than offset by a $1.3 billion decrease in our mortgage loans held-for-sale driven by lower mortgage volume.
Net interest margin in the second quarter was 3.69 percent, a 58 basis points increase compared to 3.11 percent in the prior quarter. The net interest margin expansion was largely attributable to our asset sensitivity, higher rates on newly purchased investment securities and a lag on deposit pricing increases.
Average total deposits were $17.5 billion in the second quarter, down $0.6 billion, or 3 percent, from the first quarter 2022, largely due to a decrease of $0.3 billion, or 7 percent, in average custodial deposits and a $0.2 billion, or 10 percent, decrease in government deposits. Total interest earning deposit costs only increased 2 basis points as we remained disciplined on our deposit pricing.
Provision for Credit Losses
The benefit from credit losses was $9 million for the second quarter, as compared to a $4 million benefit for the first quarter 2022, reflecting the strong performance of our portfolio, low number of non-accrual loans and a meaningful improvement in forbearance-related delinquencies. At June 30, 2022, there were no commercial delinquencies or nonaccrual loans.
Noninterest Income
Noninterest income decreased to $131 million in the second quarter, as compared to $160 million for the first quarter 2022, primarily due to lower gain on sale.
Second quarter net gain on loan sales decreased $18 million, to $27 million, as compared to $45 million in the first quarter 2022. Gain on sale margins decreased 19 basis points to 39 basis points for the second quarter 2022, compared to 58 basis points for the first quarter 2022. The decrease was caused by a $1.1 billion, or 47 percent, decline in our retail volume. This decline was primarily in the direct-to-consumer channel as a result of lower refinance volumes caused by the rising rate environment.
Our mortgage servicing rights portfolio yielded an annualized 16 percent return for the quarter. The net return on mortgage servicing rights decreased $7 million to $22 million for the second quarter 2022, compared to a $29 million net return for the first quarter 2022.
Loan administration income was $33 million for the second quarter 2022, consistent with the first quarter 2022. During the quarter, higher income from a 10 percent increase in loans serviced or subserviced for others was offset by higher LIBOR-based fees paid on custodial deposits that are subserviced.
Loan fees and charges increased $2 million to $29 million for the second quarter, compared to $27 million for the first quarter 2022, primarily due to higher ancillary fee income from our servicing business.
Noninterest Expense
Noninterest expense decreased to $256 million for the second quarter, compared to $261 million for the first quarter 2022. Excluding $3 million of merger costs in the first two quarters of 2022, noninterest expense decreased $5 million, or 2 percent, primarily driven by lower compensation and benefits.
Mortgage expenses were $90 million for the second quarter, a decrease of $11 million compared to the prior quarter. The ratio of mortgage expenses to closings—our mortgage expense ratio— was 1.14 percent, a decrease of 9 basis points from the first quarter 2022. The reduction in expense was primarily driven by the actions we have taken and continue to take to reduce mortgage costs.
The efficiency ratio was 79 percent for the second quarter, as compared to 80 percent for the first quarter 2022. Excluding $3 million of merger expenses in the first two quarters of 2022, the adjusted efficiency ratio was 78 percent and 80 percent, respectively.
Income Taxes
The second quarter provision for income taxes totaled $17 million, with an effective tax rate of 21.7 percent, consistent with the effective tax rate for the first quarter 2022.
Asset Quality
Our portfolio has continued to hold up well following the economic stress posed by the pandemic, resulting in less than $1 million of net charge-offs totaling, 3 basis points of LHFI in the second quarter 2022. This compares to net charge-offs of $21 million, or 69 basis points, in the prior quarter which was substantially all from one commercial borrower.
Nonperforming loans held-for-investment and troubled debt restructurings (TDRs) were $99 million at the end of the second quarter, a decrease of $8 million as compared to the first quarter 2022. Our ratio of nonperforming loans held-for-investment and TDRs to loans held-for-investment was 68 basis points at June 30, 2022, a 12 basis point decrease compared to March 31, 2022. At June 30, 2022, early stage loan delinquencies totaled $22 million, or 15 basis points of total loans, compared to $22 million, or 17 basis points, at March 31, 2022.
The allowance for credit losses was $135 million and covered 0.92 percent of loans held-for-investment at June 30, 2022, an 18 basis point decrease from March 31, 2022. Excluding warehouse loans, the allowance coverage ratio was 1.27 percent, a 37 basis point decrease from March 31, 2022. The 7 percent decrease in the allowance for credit losses reflects a reduction in reserves for our loans with government guarantees as a result of pay-offs and improvements in the delinquency trends of expired forbearance loans. Loan growth occurred in well-collateralized portfolios, including residential first mortgage and MSR loans (included in our C&I portfolio) with lower reserve levels. The impact of this loan growth was offset by improvements in portfolio credit quality, primarily upgrades to certain C&I loans and improvements in our residential loss severity estimates. Overall, our portfolio quality remains solid with low levels of nonperforming loans and low delinquency levels, including no commercial delinquencies.
Capital
We maintained a strong capital position with regulatory ratios above current regulatory quantitative guidelines for "well capitalized" institutions. Further demonstrating our capital strength, the capital ratios are impacted by a 100 percent risk-weighting of the warehouse loan portfolio—the largest component of the held-for-investment portfolio. Adjusting the risk-weighting of warehouse loans to 50 percent because of historically low levels of losses from this portfolio, coupled with the fact that the portfolio is fully collateralized with assets that would receive a 50 percent risk weighting, we would have had a tier 1 common equity ratio of 14.71 percent and a total risk-based capital ratio of 17.45 percent at June 30, 2022.
Tangible book value per share declined to $47.83, down $0.78, or 2 percent from last quarter due to a $97 million decline in other comprehensive income primarily driven by the impact of higher interest rates on our investment securities portfolio.
About Flagstar
Flagstar Bancorp, Inc. (NYSE: FBC) is a $24.9 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 158 branches in Michigan, Indiana, California, Wisconsin and Ohio. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 79 retail locations in 28 states. Flagstar is a leading national originator and servicer of mortgage and other consumer loans, handling payments and record keeping for $343 billion of loans representing almost 1.4 million borrowers. For more information, please visit flagstar.com.
Use of Non-GAAP Financial Measures
In addition to results presented in accordance with GAAP, this news release includes certain non-GAAP financial measures. The Company believes these non-GAAP financial measures provide additional information that is useful to investors in helping to understand the capital requirements Flagstar will face in the future and underlying performance and trends of Flagstar.
Non-GAAP financial measures have inherent limitations. Readers should be aware of these limitations and should be cautious with respect to the use of such measures. To compensate for these limitations, we use non-GAAP measures as comparative tools, together with GAAP measures, to assist in the evaluation of our operating performance or financial condition. Also, we ensure that these measures are calculated using the appropriate GAAP or regulatory components in their entirety and that they are computed in a manner intended to facilitate consistent period-to-period comparisons. Flagstar's method of calculating these non-GAAP measures may differ from methods used by other companies. These non-GAAP measures should not be considered in isolation or as a substitute for those financial measures prepared in accordance with GAAP or in-effect regulatory requirements.
Where non-GAAP financial measures are used, the most directly comparable GAAP or regulatory financial measure, as well as the reconciliation to the most directly comparable GAAP or regulatory financial measure, can be found in this news release. Additional discussion of the use of non-GAAP measures can also be found in periodic Flagstar reports filed with the U.S. Securities and Exchange Commission, which are available on the Company's website at flagstar.com.
Cautionary Statements Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward‐looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to Flagstar's beliefs, goals, intentions, and expectations regarding revenues, earnings, loan production, asset quality, capital levels, and acquisitions, among other matters; Flagstar's estimates of future costs and benefits of the actions each company may take; Flagstar's assessments of probable losses on loans; Flagstar's assessments of interest rate and other market risks; and Flagstar's ability to achieve their respective financial and other strategic goals. Forward‐looking statements are typically identified by such words as "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "should," and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Forward‐looking statements speak only as of the date they are made; Flagstar does not assume any duty, and does not undertake, to update such forward‐looking statements. Furthermore, because forward‐looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those indicated in such forward-looking statements depending upon various factors as described in the "Risk Factors" section in Flagstar's Annual Report on Form 10-K for the year ended December 31, 2021 and in Flagstar's other filings with SEC, which are available at http://www.sec.gov and in the "Documents" section of Flagstar's website, https://investors.flagstar.com.
For more information, contact:
Bryan Marx
FBCInvestorRelations@flagstar.com
(248) 312-5699
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SOURCE Flagstar Bancorp, Inc. | https://www.mysuncoast.com/prnewswire/2022/07/27/flagstar-bancorp-reports-second-quarter-2022-net-income-60-million-or-112-per-diluted-share/ | 2022-07-27T12:17:48Z |
NEW YORK, June 6, 2022 /PRNewswire/ -- Halper Sadeh LLP, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:
Terminix Global Holdings, Inc. (NYSE: TMX) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Rentokil Initial plc. If you are a Terminix shareholder, click here to learn more about your rights and options.
Vectrus, Inc. (NYSE: VEC)'s merger with The Vertex Company. If you are a Vectrus shareholder, click here to learn more about your rights and options.
Viasat, Inc. (NASDAQ: VSAT)'s merger with Inmarsat. Under the terms of the merger, Inmarsat shareholders will receive $850 million in cash and approximately 46.36 million newly issued shares of Viasat common stock. At closing, on a pro forma basis, Inmarsat shareholders are expected to be issued shares representing an aggregate of 37.5% of Viasat stock on a fully diluted basis. If you are a Viasat shareholder, click here to learn more about your rights and options.
Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders.
Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Halper Sadeh LLP
Daniel Sadeh, Esq.
Zachary Halper, Esq.
(212) 763-0060
sadeh@halpersadeh.com
zhalper@halpersadeh.com
https://www.halpersadeh.com
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SOURCE Halper Sadeh LLP | https://www.wibw.com/prnewswire/2022/06/06/shareholder-update-halper-sadeh-llp-investigates-tmx-vec-vsat/ | 2022-06-06T13:45:05Z |
JACKSON, Mich., July 22, 2022 /PRNewswire/ -- The Board of Directors of CMS Energy has declared a quarterly dividend on the company's common stock.
The dividend for the common stock (CUSIP: 125896100) is 46 cents per share. It is payable Aug. 31, 2022, to shareholders of record on Aug. 5, 2022.
CMS Energy (NYSE: CMS) is a Michigan-based energy company featuring Consumers Energy as its primary business. It also owns and operates independent power generation businesses.
For more information on CMS Energy, please visit our website at cmsenergy.com.
To sign up for email alert notifications, please visit the Investor Relations section of our website.
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SOURCE CMS Energy | https://www.mysuncoast.com/prnewswire/2022/07/22/cms-energys-board-directors-declares-quarterly-dividend-common-stock/ | 2022-07-22T19:02:27Z |
"The year is 2022, war has broken out, and hell has descended upon a small group of Marines stationed in Afghanistan. For these Marines, looking to the horizon means almost-certain death, and what they are about to encounter is an enemy humanity itself has never before experienced. Evil is coming to end the world, and only ONE is brave enough to stop it."
DALLAS, June 17, 2022 /PRNewswire/ -- When Austin St. John returned from serving overseas, he received thousands of questions. What have you been doing since the Power Rangers? And what are you going to do now? The truth is, he's done a lot since working on the Power Rangers. Actor, celebrity, entrepreneur, internet personality, but his next endeavor is his most ambitious yet: creating and releasing Redempt1on Comics, a post-apocalyptic tale inspired by his time overseas.
"This is for those of you who are adults now. For those who wanted something dark and dystopian, and to see something that hasn't been done before." – Austin St. John
This isn't a 20 page Spiderman comic; it's for fans who have grown up with St. John and are looking for a mind-bending world full of tough choices, good vs. evil, and surviving the impossible.
You do not want to miss out on this amazing Kickstarter full of wonderful packages, signatures from the team, stickers, T-Shirts, coffee mugs, Tumblers, and art by Alan Quah, Ken R Salinas, Cole Hays, and David Sanchez. Everything is limited edition and expected to sell out quickly, so act fast while supplies last!
Multiple tiers will be offered in Kickstarter so everyone can get involved. Find everything you need to know and more at www.redempt1oncomics.com.
CONTACT: Austin St. John, support@redempt1oncomics.com
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SOURCE Redempt1on Comics | https://www.kxii.com/prnewswire/2022/06/17/austin-st-john-announces-june-17th-kickstarter-release-new-comic-book-series-redempt1on-comics/ | 2022-06-17T15:24:57Z |
PITTSBURGH, Sept. 7, 2022 /PRNewswire/ -- "I thought there should be a safe and simple accessory to help you stay cool during hot weather," said an inventor, from Oakland, Calif., "so I invented the SUCU- I 20. My design could help to prevent heat-related symptoms and injuries."
The invention provides an improved undergarment for keeping wearers cool in very warm conditions. In doing so, it helps to prevent dehydration and overheating. As a result, it enhances comfort and it provides added protection and peace of mind. The invention features an effective design that is easy to wear so it is ideal for individuals who live and work in warm or hot temperatures, military, firefighters, law enforcement, etc. Additionally, it is producible in design variations.
The original design was submitted to the San Francisco sales office of InventHelp. It is currently available for licensing or sale to manufacturers or marketers. For more information, write Dept. 20-SNF-174, InventHelp, 217 Ninth Street, Pittsburgh, PA 15222, or call (412) 288-1300 ext. 1368. Learn more about InventHelp's Invention Submission Services at http://www.InventHelp.com.
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SOURCE InventHelp | https://www.mysuncoast.com/prnewswire/2022/09/07/inventhelp-inventor-develops-cooling-undergarment-enhance-safety-snf-174/ | 2022-09-07T16:30:36Z |
XI'AN, China, May 31, 2022 /PRNewswire/ -- Throughout the millennia of history and the prosperous times of Chang'an, the profound cultural accumulation rooted in Xi'an, China, is a valuable historical treasure of this ancient city. In recent years, Xi'an has been making efforts to transform its cultural resources into fashionable "cultural tourism IP" based on "Tang cultural elements" and modern technology, and bringing historical and cultural heritage to life in a modern context. Recently, Xi'an Municipal Party Committee and Municipal Government held a meeting and proposed to make good use of historical and cultural heritage, promote the deep integration of cultural industry and tourism industry, in order to make Xi'an a display window of Chinese culture and civilization.
"Noblewomen'' and "ladies", "literati" and "warriors", reciting poems in the streets and imitating songs and dances of the Tang Dynasty, and the moving love story performed by ''gifted scholars and beautiful ladies of the Tang Dynasty'', etc., this is a Tang style city life neighborhood, which was derived from a historical TV drama, The Longest Day in Chang'an. The beautiful scenery of Tang dynasty clothing can be seen everywhere, and with the help of "sound, light and electricity" technology, it is like entering a "time and space feast" interwoven with literature, history, folklore and food. Through the integration of film and television IP and commercial IP, each visitor can realize the transformation from "watching the play" to "getting into the play" when entering the "The Longest Day in Chang'an", which makes people "back to Tang Dynasty in one second". The immersive experience satisfies people's new demand for experiencing Tang culture and becomes a new contact point to promote the integration of culture, tourism and business.
What's more, relying on the "Tang cultural elements" to successfully build a cultural tourism scenic spot, there is also the famous Grand Tang Dynasty Ever-bright City. It has not only launched commercial activities such as "Tang Food Corner", "Tang Souvenir Corner" and "Tang Amusement Area", but also launched a number of immersive performances in the way of "interaction + experience", created a number of highly recognizable cultural tourism character IPs and blossomed the charm of "Tang culture" in an innovative way.
More than fourteen hundred years ago, Xi'an was known worldwide as Chang'an. It was the world's first city of one million people, including about 100,000 envoys, merchants, foreign students and monks from other countries, so Xi'an's image of openness and inclusiveness was also known to the world.
Despite the challenges of the epidemic, the ancient capital with thousands of years of history still exudes new vitality, driven by new leisure models such as market blocks, heritage exhibitions and immersive experiences. The long-standing cultural history has given consumption growth vitality and resilience, with "mystery boxes of Tang Dynasty characters", "ice cream made of images of popular landmarks such as the Terracotta Warriors and the City Wall," and "7 million netizens watching the Xi'an drum music stream", etc. All kinds of new consumption methods became the driving point for the upgrading of cultural tourism consumption. Xi'an is speeding up the integration of cultural resources and making history and culture the driving force for the development and innovation of this ancient city.
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Caption: A Tang style city life neighborhood, which was derived from a historical TV drama, The Longest Day in Chang'an.
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SOURCE Xi'an Municipal Party Committee and Municipal Government | https://www.mysuncoast.com/prnewswire/2022/05/31/xian-china-seeing-past-present-across-millennia-culture-tourism-innovation-animates-new-forms-consumption/ | 2022-05-31T04:24:40Z |
IAS Quality Sync Pre-bid Segment reduces ad campaign block rates and campaign activation time to further optimize digital media quality
NEW YORK, June 27, 2022 /PRNewswire/ -- Integral Ad Science (Nasdaq: IAS), a global leader in digital media quality, today announced the launch of its Quality Sync Pre-bid Segment. Currently accessible in Xandr's Invest DSP globally and other DSPs soon, the solution allows advertisers to seamlessly mirror their post-bid advertising campaign settings with their pre-bid settings, for both mobile and desktop across video and display inventory. With the Quality Sync Pre-bid Segment, advertisers can enable unified brand safety, keyword blocklists, URL exclusion lists, brand suitability (Context Control avoidance), and invalid traffic avoidance settings.
Streamlining Activation
The unified pre-bid segment removes the complexities and reduces the time and human error associated with manually mirroring post-bid preferences to pre-bid. Advertisers can launch and optimize their digital media campaigns quickly, ensuring comprehensive protection and time-sensitive updates in response to emerging news or trends.
Reducing block rates
The solution will reduce post-bid block rates since undesired placements are avoided in the bid stream. Brands can reinvest savings into quality media and focus on optimizing future campaigns.
"Our Quality Sync Pre-bid Segment provides the necessary tools to help advertisers increase efficiency and ROI of their programmatic campaigns," said Tom Sharma, Chief Product Officer, IAS. "Advertisers can capture their preferred campaign settings all in one place, streamlining workflow, reducing block rates, and improving overall media quality."
"We're pleased to bring this solution first to Xandr, with more integrations in global DSPs to come. Ensuring digital ads land in environments that are safe and suitable has never been more important, especially in an ever-evolving digital landscape and news cycle. Our solution reduces some of the complexities in campaign management for advertisers."
Unified Settings
During campaign set up, advertisers no longer need to create new lengthy lists or select thresholds for brand safety and suitability separately at the post-bid and pre-bid levels. IAS's Quality Sync Pre-bid Segment simply syncs the advertiser's selected post-bid avoidance settings from IAS Signal and presents it in a unified way, into one single pre-bid segment. This Quality Sync Pre-bid Segment will then automatically sync within the DSP to reflect any future changes to safety, suitability, invalid traffic, or custom lists.
The solution includes contextual avoidance segments and custom contextual segments based on a brand's individual needs. IAS's Context Control solution is driven by its proprietary Machine Learning capabilities, which can now seamlessly sync between post and pre-bid. Context Control is able to analyze emotion and sentiment of a web page with close to human comprehension.
DSP Integration
Xandr's strategic buying platform, Invest DSP, now offers IAS's Quality Sync Pre-bid Segment for client activation alongside its existing IAS pre-bid segments, including contextual targeting and contextual avoidance.
"The integration of IAS's Quality Sync Pre-bid Segment will reduce the time spent by advertisers manually matching their brand safety and suitability settings at both the post and pre-bid levels," said Dylan McBride, Global Head of Partnerships, Xandr. "The solution ensures that advertisers are able to launch campaigns with greater confidence and accuracy."
Advertisers will continue to measure campaign performance through Signal, IAS's reporting platform.
About Integral Ad Science
Integral Ad Science (IAS) is a global leader in digital media quality. IAS makes every impression count, ensuring that ads are viewable by real people, in safe and suitable environments, activating contextual targeting, and driving supply path optimization. Our mission is to be the global benchmark for trust and transparency in digital media quality for the world's leading brands, publishers, and platforms. We do this through data-driven technologies with actionable real-time signals and insight. Founded in 2009 and headquartered in New York, IAS works with thousands of top advertisers and premium publishers worldwide. For more information, visit integralads.com.
About Xandr
Xandr, a part of Microsoft Advertising, powers a global marketplace for premium advertising. Our data-enabled technology platform, encompassing Xandr Invest, Xandr Monetize, and Xandr Curate, optimizes return on investment for both buyers and sellers, while maintaining a commitment to an open marketplace and empowering the open web globally.
Media Contact:
press@integralads.com
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SOURCE Integral Ad Science, Inc. | https://www.wibw.com/prnewswire/2022/06/27/ias-announces-campaign-sync-solution-with-xandrs-invest-dsp-match-advertisers-pre-post-bid-settings/ | 2022-06-27T14:00:05Z |
NEW YORK, July 18, 2022 /PRNewswire/ -- Attention CareDx, Inc. ("CareDx") (NASDAQ: CDNA) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all persons or entities who purchased CareDx common stock between February 24, 2021, and May 5, 2022.
If you suffered a loss on your investment in CareDx, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against CareDx includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) defendants had engaged in a variety of improper and illegal schemes to inflate testing services revenue and demand, including pushing a surveillance protocol through inaccurate marketing materials, offering extravagant inducements or kickbacks to physicians and other providers, and improperly bundling expensive testing services with other blood tests as part of the Company's RemoTraC service for remote, home-based, blood-drawing; (2) these practices, and others, subjected CareDx to an undisclosed risk of regulatory scrutiny; (3) these practices rendered the Company's testing services revenue reported throughout the class period artificially inflated; and (4) as a result, defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
DEADLINE: July 22, 2022
Aggrieved CareDx investors only have until July 22, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong | https://www.kxii.com/prnewswire/2022/07/18/class-action-alert-law-offices-vincent-wong-remind-caredx-investors-lead-plaintiff-deadline-july-22-2022/ | 2022-07-18T10:14:18Z |
Pennsylvania US Senate candidate Fetterman suffers stroke but says he’s ‘well on my way to a full recovery’
By Dan Merica, CNN
John Fetterman, the favorite to win Pennsylvania’s Democratic US Senate contest, announced Sunday that he’s recovering after a stroke.
Fetterman is at the Penn Medicine Lancaster General Hospital in Lancaster, Pennsylvania, according to a statement, which noted he first went to the hospital Friday.
Pennsylvania’s primary is on Tuesday, and polls show Fetterman, Pennsylvania lieutenant governor, holding a significant lead over US Rep. Conor Lamb and state Rep. Malcolm Kenyatta. Fetterman, who began canceling events on Friday, said Sunday he is continuing in the race.
“I had a stroke that was caused by a clot from my heart being in an A-fib rhythm for too long,” he said, adding, “I’m feeling much better, and the doctors tell me I didn’t suffer any cognitive damage. I’m well on my way to a full recovery.”
He continued: “Our campaign isn’t slowing down one bit, and we are still on track to win this primary on Tuesday, and flip this Senate seat in November.”
His spokesman Joe Calvello told CNN that the lieutenant governor was on his way to an event on Friday at a college in Millersville, which is near Lancaster, when his wife, Gisele, urged him to get checked out at a hospital.
“I wasn’t feeling well, so I went to the hospital to get checked out,” Fetterman said in the statement. “I didn’t want to go — I didn’t think I had to — but Gisele insisted, and as usual, she was right.”
Fetterman’s campaign had not given any indication that the lieutenant governor was in the hospital and did not respond to questions about whether the illness was Covid-related.
Fetterman also canceled a handful of events on Saturday and Sunday.
Lamb, one of Fetterman’s opponents, responded to the news Sunday, saying he and his wife, Hayley, “are keeping John and his family in our prayers and wishing him a full and speedy recovery.”
Kenyatta also responded to the news.
“As I said at the first debate, John is an incredible family man. My prayers are with him and his family as he recovers from this stroke,” Kenyatta said in a statement to CNN. “I look forward to seeing him back on the campaign trail soon!”
Fetterman, who was elected to his current role in 2018 after a failed US Senate primary bid in 2016, is an advocate for legal cannabis and lower prison sentences. He campaigned for former US presidential candidate Bernie Sanders.
Lamb has been arguing for months that Fetterman’s record is too liberal for a state that voted for former President Donald Trump in 2016 before going for President Joe Biden in 2020.
Fetterman first made a name for himself as mayor of Braddock, a western Pennsylvania town hollowed out by the collapse of the steel industry.
This story has been updated with additional information.
The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. | https://localnews8.com/politics/cnn-us-politics/2022/05/15/pennsylvania-senate-candidate-fetterman-suffers-stroke-but-says-hes-well-on-my-way-to-a-full-recovery/ | 2022-05-15T23:08:16Z |
Barcelona set for its first trip to Australia in May
By Reuters
Five-times European champion Barcelona will visit Australia for the first time to play an A-League All Stars team in a friendly next month, the club announced on Wednesday.
The match will take place at Sydney’s 80,000-seater Olympic Stadium on Wednesday May 25, a few days before the A-League season concludes with the championship “Grand Final.”
The A-League All-Stars team first took to the field in 2013 with a match against then-Premier League champions Manchester United, drawing a crowd of more than 83,000. Juventus visited a year later to play the All-Stars, but there has not been another match since.
“As we emerge from our third COVID-impacted football season, Australia and the A-Leagues are once again the destination for international teams,” said Danny Townsend, the CEO of the A-Leagues and outgoing Sydney FC chief executive, according to the Australian newspaper The Age.
“One of the world’s best teams taking on the best of the A-League just days before the men’s grand final is going to deliver a feast of football for fans in Australia during grand final week.”
Australia was a regular stop for major European clubs before the country was locked down during the COVID-19 pandemic with the likes of Liverpool, Manchester United and Chelsea attracting huge crowds for lucrative friendlies.
A video of more than 95,000 fans singing “You’ll Never Walk Alone” before an exhibition match involving Liverpool at the Melbourne Cricket Ground went viral in 2013.
Other exhibition matches involving major European clubs will also take place in Australia this summer. United and fellow English club Crystal Palace will play friendlies in Melbourne in July this year but plans for a first Glasgow derby outside Scotland were scuppered when Rangers pulled out of the Sydney Super Cup after complaints from fans.
The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. | https://localnews8.com/sports/cnn-sports/2022/04/06/barcelona-set-for-its-first-trip-to-australia-in-may/ | 2022-04-06T11:56:49Z |
NEW YORK, Sept. 1, 2022 /PRNewswire/ -- The Committee for Economic Development, the public policy center of The Conference Board (CED), joins world leaders in mourning the passing of Mikhail Gorbachev, whose insightful and courageous leadership recognized that change was vital for the future of his country and boldly chose the path of diplomacy to bring it about. Gorbachev's reforms at home opened the pathways for Russians to live more freely and begin to remove the shackles of tyranny. Abroad, his stalwart belief in the need to reduce global tensions and have the world step back from the precipice of armageddon led to important breakthroughs in nuclear arms reductions and, eventually, to the peaceful ending of the Cold War.
Gorbachev's leadership legacy demonstrates that pathways to peace after long years of tension and animosity are not impossible to chart. Progress towards peace and prosperity takes time and is not linear—but will not happen unless leaders, in the public and private sector, who support a rules-based order and the respect of individual rights stay steadfast in their pursuit.
About CED
The Committee for Economic Development (CED) is the public policy center of The Conference Board. The nonprofit, nonpartisan, business-led organization delivers well-researched analysis and reasoned solutions in the nation's interest. CED Trustees are chief executive officers and key executives of leading US companies who bring their unique experience to address today's pressing policy issues. Collectively they represent 30+ industries, over a trillion dollars in revenue, and over 4 million employees. www.ced.org
About The Conference Board
The Conference Board is the member-driven think tank that delivers trusted insights for what's ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org
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SOURCE Committee for Economic Development of The Conference Board (CED) | https://www.kxii.com/prnewswire/2022/09/01/ced-issues-statement-passing-mikhail-gorbachev/ | 2022-09-01T14:05:26Z |
More than 3,700 RE/MAX agents are named on the RealTrends + Tom Ferry "America's
Best Real Estate Professionals" list
DENVER, June 15, 2022 /PRNewswire/ -- On the heels of the recently released RealTrends + Tom Ferry "The Thousand" ranking, which confirmed RE/MAX had more of the nation's 1,000 most prolific home-selling agents than any other brand, the global real estate franchisor today announced that more than 3,700 RE/MAX professionals qualified for a related ranking of agents and teams. What's more, according to the RealTrends + Tom Ferry "America's Best Real Estate Professionals List," RE/MAX teams in the small, medium and large categories also posted the highest average number of transaction sides per team member of any brand*.
"Production is the cornerstone of this business and it's no surprise RE/MAX teams continue to dominate in productivity," said Nick Bailey, RE/MAX President and CEO. "High-performing professionals attract like-minded peers and create something special. It's incredible what they're able to accomplish on behalf of consumers."
Extending a long tradition of supporting teams, in early 2022 RE/MAX announced several new teams-focused initiatives. The centerpiece was a partnership with Workman Success Systems to launch an exclusive REAL TEAMS Solution for RE/MAX Affiliates available via the network's online learning platform, RE/MAX University®. RE/MAX also launched the Teams Mastermind Road Show this month – a series of in-person events designed to teach affiliates and their guests how joining, creating or growing a team could boost their businesses.
"At RE/MAX, LLC, we're dedicated to providing RE/MAX agents the resources, education and opportunities they need to succeed in any market. RE/MAX agents and teams continue to take advantage of the offerings and that, combined with their dedication to customer service, is what makes RE/MAX agents so unstoppable," added Bailey.
RealTrends + Tom Ferry's "America's Best Real Estate Professionals" is the industry's largest ranking of agents based on homes sold. It is an offshoot of the RealTrends + Tom Ferry "The Thousand" list, in which RE/MAX had more top-ranked agents than any other brand. The "America's Best" rankings were open to individual agents who closed at least 50 transaction sides or $20 million in sales volume in 2021 and teams who closed at least 75 transaction sides or $30 million in sales volume.
*With at least 150 team rankings in America's Best
About the RE/MAX Network
As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in almost 9,000 offices and a presence in more than 110 countries and territories. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit news.remax.com.
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SOURCE RE/MAX, LLC | https://www.kxii.com/prnewswire/2022/06/15/prestigious-industry-survey-confirms-remax-teams-continue-lead-productivity/ | 2022-06-15T23:50:00Z |
The boutique coffee chain designates August 5th – August 11th as FUEL Week at all Black Rock Coffee Bar stores in the U.S.
PORTLAND, Ore., Aug. 2, 2022 /PRNewswire/ -- To highlight Black Rock Coffee Bar's popular energy drink brand, FUEL, the growing coffee chain has designated the week of August 5 – August 11th as FUEL Week at its more than 100 stores in the U.S.
During FUEL Week, Black Rock Coffee Bar customers can keep fueled, energized, and refreshed each day by treating themselves to the featured large FUEL drink of the day for just $2.00. Following outlines the daily menu for FUEL Week:
- Friday, August 5: Organic Peach Mango FUEL
- Saturday, August 6: Green Apple Pomegranate FUEL
- Sunday, August 7: Orange Almond Raspberry FUEL
- Monday, August 8: Organic Strawberry Coconut FUEL
- Tuesday, August 9: Blackberry Mango FUEL
- Wednesday, August 10: Organic Lavender Vanilla FUEL
- Thursday, August 11: Passion Fruit Pomegranate Peach FUEL
"We are excited to showcase our popular FUEL drinks as a way to put an exclamation point on the summer season," said Josh Pike, CEO of Black Rock Coffee Bar. "We developed our energy drink, FUEL from the ground up with the help of baristas and customers and know that if you are looking for a fun and refreshing beverage this summer our flavored energy drink will 'FUEL Your Story!' "
Black Rock Coffee Bar offers organic sugar-free and regular FUEL, and over 20 fruit flavors that can be combined to create your own favorite combination. In addition to endless fruit flavors, customers can make their FUEL drink sour and have it over ice or blended.
Black Rock Coffee Bar is known for its premium roasted coffees, teas, smoothies and flavorful blended energy drinks. Founded in 2008 in Portland, Oregon, an area of the Pacific Northwest known for its coffee excellence, Black Rock Coffee Bar has expanded through the west and into the sunbelt, including Arizona, California, Colorado, Idaho, Oregon, Texas and Washington. The boutique coffee chain recently was named the Fastest Growing Private Company in Oregon and SW Washington in 2021 by the Portland Business Journal.
Black Rock Coffee Bar is a national boutique coffee shop that is known for its premium roasted coffees, teas, smoothies and flavorful blended energy drinks. Founded as a family owned and operated business in Oregon in 2008, Black Rock Coffee Bar has grown to more than 100 retail locations in seven states. The Black Rock culture emphasizes personal and professional growth for each Black Rock employee and ensuring that they provide compassionate customer service towards each person who experiences the store.
For more information, visit https://br.coffee/
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SOURCE Black Rock Coffee Bar | https://www.wibw.com/prnewswire/2022/08/02/black-rock-coffee-bar-amps-up-energy-august-with-its-fuel-drink-specials/ | 2022-08-02T21:32:53Z |
NEW YORK, Sept. 8, 2022 /PRNewswire/ -- The vast majority of U.S. adults are ready to move beyond gaming experiences in the metaverse and see value in immersive interactions, such as socializing with friends and family (78%), and on-the-job training (76%), according to a new survey from KPMG LLP1. Further, 59% of U.S. adults report they expect the metaverse to have a significant impact on their lives in the next 12 months with an additional 48% reporting a significant impact in next 5 years.2
"While it may still be early days, U.S. adults are increasingly adapting to creating real life experiences across the 'phygital' world," said Cliff Justice, U.S. leader of Enterprise Innovation, KPMG. "With each interaction, people are becoming more accustomed to engaging in everyday activities in the metaverse. From banking and telemedicine to learning and working, the medium we use to communicate and interact is perpetually shifting towards virtual."
The metaverse has the potential to revolutionize the way businesses and consumers engage, transact, socialize and work. Of those participating in the metaverse, 92% of respondents say it enhances learning opportunities, including job training, school, and higher education while 86% report the metaverse provides opportunities for entrepreneurship, including marketing and selling.
Regardless of whether consumers are engaging in the metaverse, a majority of U.S. adults are interested in virtual experiences. Beyond socialization, telemedicine (72%), virtual shopping apps (67%), virtual work (65%) and starting a business (51%) rank the highest.
The path to broad adoption is growing at a steady clip, but existing skepticism may create hurdles along the way. Privacy (80%) and protecting personal information (79%) were the most significant concerns, according to the survey. In the same vein, feeling secure about privacy and security of personal information were the most important factors to encourage participation.
Increasing access affordable technology and customizable avatars are also the most cited ways to increase diversity, equity, and inclusion (DEI) in the metaverse, 38% and 36% respectively. Nearly a third (30%) of respondents say ensuring that metaverse environments are accessible to those with disabilities should be the priority across this category.
"With the companies and people still understanding the potential scope and scale of the metaverse's impact, we must prioritize inclusive, safe and secure practices to protect users and ensure experiences are adaptable," continued Justice. "The recalcitrance to innovation is low and this is time to embed these priorities across technologies as they continue to evolve."
As part of its strategic innovation roadmap, KPMG in the U.S. recently partnered with KPMG in Canada to launch its metaverse collaboration hub where employees, clients and communities can connect, engage and explore opportunities for growth across industries and sectors. The firm has formed a dedicated team to help clients develop and execute their own metaverse strategies. Read more of our findings below and visit kpmg.com to learn about the firm's metaverse consulting capabilities.
Forging metaverse connections:
- 78% of all respondents say the metaverse allows or could allow them to have personal connections with friends and family.
- 76% of all respondents say the metaverse enhances or could enhance learning opportunities such as job training and higher ed.
- 66% of all respondents say it provides the same benefits as social media, but in a more immersive way.
- Millennials (69%) and Gen Z (61%) lead when it comes to being excited about the metaverse, followed by Gen X (44%).
Current use and expected impact:
- 59% of U.S. adults expect a significant impact from the metaverse in the next five years, with 48% anticipating a significant impact in the next 12 months.3
- Current metaverse users are the most satisfied with their virtual experiences. Among those who have participated in the metaverse, the top experiences include starting a business (91%), collaborative online games and simulations (91%), and immersive, virtual experiences created by brands (87%).
- Current metaverse users also report virtual participation in trainings for work or school (96%), work meetings (82%), virtual classrooms (72%) and government meetings (71%) as top experiences.
- A majority of U.S. adults, regardless of their current participation in the metaverse, are interested in virtual experiences. Top interests include virtual meetings with family and friends (73%), telemedicine (72%), virtual shopping apps (67%), virtual work (65%) and starting a business (51%).
- 32% of respondents are open to but undecided about metaverse participation. Of this group, 31% have a lower familiarity with the metaverse.
Paths to greater engagement:
- Respondents say privacy is the top concern 79% when using the metaverse followed by personal information (79).
- Gen Z respondents care more about avatar customization (42%) with 36% of total respondents reporting this is the top DEI concern. Nearly a third (30%) of respondents say ensuring that metaverse environments are accessible to those with disabilities should be the priority across this category.
- Providing access to more affordable metaverse technologies is the top concern among Millennials (39%) and GenX/Boomers (40%) respondents.
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. The KPMG global organization operates in 144 countries and territories and has more than 236,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity, and eradicating childhood illiteracy. Learn more at www.kpmg.com/us.
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SOURCE KPMG LLP | https://www.kxii.com/prnewswire/2022/09/08/beyond-gaming-real-metaverse-opportunity/ | 2022-09-08T12:11:07Z |
NEW YORK, June 15, 2022 /PRNewswire/ -- Today, Ernst & Young LLP (EY US) announces that applications are open for the 2023 class of the EY Entrepreneurs Access Network (EAN), and qualified Black and Latino CEOs and founders nationwide are encouraged to apply.
Entrepreneurs from historically underrepresented communities lead or own 18% of all businesses nationwide and by one estimate, generate $396b in economic activity. But despite this far-reaching economic impact, systemic discrimination still prohibits some Black and Latino entrepreneurs from reaching their full potential.
In response, the EAN was created to support Black- and Latino-owned companies by helping close disparity gaps in accessing capital, connections and resources.
More details are available below and also at ey.com/ean.
- What: The EY Entrepreneurs Access Network (EAN) is a business accelerator for high-growth Black and Latino entrepreneurs. EAN participants receive yearlong access to mentors, an executive curriculum, growth resources and capital connections.
- Why: In 2019, EY leadership observed a lack of access to connections and funding that hinders many Black- and Latino-owned businesses from scaling, and the pandemic further amplified these barriers. As an expansion of our current entrepreneurial ecosystem (35 years Entrepreneur Of The Year®; 15 years Entrepreneurial Winning Women™), EY US developed the EAN to help bridge the gaps for these companies to thrive.
- When: Applications are being accepted now through September 15, 2022. The EAN will notify companies of their acceptance on a rolling basis, beginning early December 2022.
- Who: Black and Latino business owners who meet the criteria may apply online at ey.com/ean. Applicants must be Black or Latino business owners who are founding CEOs and majority owners of any privately held, for-profit company based in the US. The company must be more than two years old and 51% minority (Black/Latino) owned.
- How: The EAN is designed to be a manageable 12-month program for busy executives. The platform includes assessments, one-on-one coaching, a curriculum customized based on needs, access to online tools and networking events, and promotional exposure. There is no cost to participate.
- Quotes:
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SOURCE EY | https://www.kxii.com/prnewswire/2022/06/15/applications-open-ey-entrepreneurs-access-network-business-accelerator-program-black-latino-entrepreneurs/ | 2022-06-15T13:09:17Z |
Former AliveCor Executive, Mark Bogart, recruited by Life Science Partner will serve as B-Secur's Senior Vice President of US Healthcare
ATLANTA, Sept. 8, 2022 /PRNewswire/ -- B-Secur, a leader in EKG technology, partnered with executive search firm Life Science Partner to fulfill their need to hire a US-based leader to consummate deals and partnerships with major medical device and digital cardiology monitoring companies.
After an international search, Life Science Partner recruited Mark Bogart to join B-Secur as SVP, US Healthcare. Ben Carter, Chief Commercial Officer at B-Secur, and the founding leadership team chose Bogart from an exceptional slate of qualified candidates because of his in-depth knowledge base and experience in digital ECG and ambulatory remote monitoring combined with his demonstrated track record of successful sales leadership and partnership generation.
"Since the launch of HeartKey® 2.0 we have seen a strong growing demand across our key consumer and medical customers," states Ben Carter. "Mark brings a wealth of leadership and business experience from across the medical industry. He has worked with some of the biggest medical device and platform companies in the world and has deep medical industry knowledge."
Bogart joins B-Secur after serving as SVP, US Healthcare for AliveCor where he led the healthcare division's go-to-market strategy spear-heading critical partnerships and novel acquisitions.
"With his subject-matter expertise in digital healthcare and remote patient monitoring blended with his exceptional career as a sales leader, Bogart is well-suited to accelerate B-Secur's growth within the US market." – Tom Callaway, MD, Founder of Life Science Partner.
Bogart was instrumental in establishing KardiaMobile® 6L in the B2B markets, validated a direct reimbursement model, and developed new sales and strategic opportunities with KOL's, leading healthcare systems, and progressive companies in digital health.
"Supported by a best-in-class engineering and product development team, B-Secur is at the forefront of signal conditioning and EKG rhythm analysis," states Mark Bogart. "The opportunity to engage and bring forward HeartKey® 2.0 creates tremendous opportunities across the U.S. MedTech space and ultimately improves workflow, patient care and clinical outcomes. It's a game changer for the industry and our physician providers."
Life Science Partner is pleased to continue their partnership with B-Secur as they expand and establish their US executive team to commercialize HeartKey 2.0.
Contact Life Science Partner to build out your transformational leadership team today.
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SOURCE Life Science Partner | https://www.kxii.com/prnewswire/2022/09/08/life-science-partner-teams-up-with-b-secur-expand-their-heart-health-technology-us/ | 2022-09-08T13:47:36Z |
COLUMBUS, Ohio, June 8, 2022 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) will participate in the 2022 Morgan Stanley US Financials, Payments, & CRE Conference on Wednesday, June 15, 2022. Zach Wasserman, chief financial officer, and Scott Kleinman, co-president of commercial banking, are scheduled to present via webcast to analysts and investors at 1:45 PM (Eastern Time). They will discuss business, financial performance, and strategic initiatives. The presentation will include forward-looking statements.
Webcast Information
Interested investors may access the live audio presentation in the investor relations section of Huntington's website (www.huntington-ir.com). A replay of the webcast will be archived on the website.
About Huntington
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $177 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates more than 1,000 branches in 11 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.
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SOURCE Huntington Bancshares Incorporated | https://www.kxii.com/prnewswire/2022/06/08/huntington-bancshares-present-2022-morgan-stanley-us-financials-payments-amp-cre-conference/ | 2022-06-08T12:06:18Z |
SEGUIN, Texas, Aug. 3, 2022 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) today reported results for the second quarter ended June 30, 2022.
Highlights for the Quarter
- Net sales of $396.2 million, up 14.0%
- Income from operations of $40.9 million, up 21.8%
- Net income of $28.5 million, or $2.39 per diluted share, up 9.4%
- Trailing twelve-month EBITDA of $172.9 million, up 6.7% from full year 2021(1)
- Backlog of $894.0 million, up 77.5% compared to prior year second quarter-end
Results for the Quarter
Second quarter 2022 net sales were $396.2 million compared to $347.6 million in the second quarter of 2021, an increase of 14.0%. Gross margin improved in the quarter versus the second quarter of 2021 by $11.6 million or 13.1%. Second quarter net income improved 9.4% to $28.5 million, or $2.39 per diluted share, compared to net income of $26.0 million, or $2.19 per diluted share in the second quarter of 2021. The Company's backlog at the end of the second quarter of 2022 was $894.0 million, an increase of $390.5 million, or 77.5%, from the backlog at the end of the second quarter of 2021, and up 11.6% from the end of calendar year 2021.
The positive results reported for the quarter were achieved through a combination of effective price management, improved manufacturing efficiencies and disciplined control of operating expenses. These results were achieved despite persistent headwinds including material cost inflation, elevated transportation costs, supply chain disruptions and skilled labor shortages. They were also achieved net of the negative impact of currency exchange rates on our consolidated financial results.
Results by Division
Vegetation Management
The Vegetation Management Division had a strong second quarter of 2022 as markets remained solid compared to the second quarter of 2021. The Division's second quarter net sales were $255.0 million, up 18.8% compared to $214.7 million for the same period in 2021. For the first six months of 2022, net sales in this Division were $476.0 million, compared to $398.5 million for the first six months of 2021, up 19.4%. The increase in net sales was driven by strong retail demand for agricultural, forestry, tree care, and governmental mowing products in both North America and Europe.
The Division's income from operations for the second quarter 2022 was $32.8 million, up 44.7% compared to $22.7 million for the second quarter of 2021. For the first six months of 2022, income from operations was $51.1 million versus $39.4 million for the first six months of 2021, an increase of 29.7%. Strong results in the United Kingdom, France, Brazil and Australia also contributed to this division's outstanding performance during the quarter. The Division benefited from strong sales, better pricing, a favorable product mix and was able to effectively manage costs and expenses in spite of the impact of ongoing supply chain issues, higher material and inbound freight costs and related surcharges.
Industrial Equipment
The Industrial Equipment Division's second quarter 2022 net sales were $141.2 million, up 6.3% compared to $132.9 million during the same period in 2021. The increase was primarily attributable to pricing actions that drove higher sales of its excavator and vacuum truck products and, to a lesser extent, other product lines within the Division. Delays in deliveries of medium duty truck chassis and other industrial components, negatively impacted the Division during the second quarter of 2022.
For the first six months of 2022 net sales were $282.2 million compared to $260.2 million for the first six months of 2021, an 8.5% increase. Strong net sales of excavators, vacuum trucks, street sweepers and, to a lesser, extent snow removal equipment were the primary reasons for the increase.
The Division's income from operations for the second quarter of 2022 was $8.1 million, down 25.7%, compared to $10.9 million, for the second quarter of 2021. For the first six months of 2022 income from operations was $18.9 million compared to $19.6 million for the first six months of 2021, a decrease of 3.6%. The Division was negatively impacted during the second quarter and first six months of 2022 by supply chain disruptions, constrained chassis deliveries and higher material and inbound freight costs.
Comments on Results
Jeff Leonard, Alamo Group's President and Chief Executive Officer, commented, "We are pleased to report that, in the second quarter, Alamo Group achieved the highest quarterly sales and earnings in the Company's history. While the second quarter is normally seasonally strong for the Company, both sales and earnings for the quarter comfortably exceeded previous records. It is especially satisfying that our teams were able to produce robust results in a business environment that certainly remains turbulent and challenging.
"Modest improvements in supply chain performance helped our teams increase customer shipments and improve production efficiencies during the quarter. The improvement in efficiency, combined with better pricing, supported gross margin performance despite persistent cost inflation pressures. Good cost discipline was evident across the Company during the quarter and helped us drive double-digit Income from Operations growth for the first time since the third quarter of 2020.
"Orders received during the quarter declined modestly compared to the second quarter of 2021, however overall, our markets continued to show significant strength. The decline in order bookings during the quarter was primarily the result of gradually softening demand in the North American agriculture market. This was partially offset by a nice increase in Industrial Equipment orders led by strong pre-season demand for turn-key, municipal snowplows. Consolidated backlog declined slightly compared to the end of the first quarter but remained significantly higher than it was at the end of the second quarter of 2021.
"Looking ahead to the second half of the year, we remain encouraged regarding the Company's sales and earnings prospects. Truck chassis delivery reliability improved in the second quarter, and we are optimistic that gradual improvement in chassis supply will support improved sales and profitability in our Industrial Equipment Division during the third and fourth quarters of this year. We anticipate that the modest improvement in overall supply chain performance evident in the second quarter will continue for the next few months, although shortages of certain components are expected to extend into next year. With an improving supply chain situation, our inventory levels should also naturally decline. Most importantly, our backlog remains close to the historic high set at the end of the first quarter of 2022 and the margin in backlog is increasingly healthy. This gives us confidence that the Company will continue to perform well for the remainder of 2022 and at least through the early months of 2023."
Earnings Conference Call
The Company will host a conference call to discuss the results on Thursday, August 4, 2022 at 1:30 p.m. ET. Hosting the call will be members of senior management.
Individuals wishing to participate in the conference call should dial 888-394-8218 (domestic) or 323-794-2588 (international). For interested individuals unable to join the call, a replay will be available until Thursday, August 11, 2022, by dialing 888-203-1112 (domestic) or 719-457-0820 (internationally), passcode 4806226.
The live broadcast of Alamo Group Inc.'s quarterly conference call will be available online at the Company's website, www.alamo-group.com (under "Investor Relations/Events & and Presentations") on Thursday, August 4, 2022, beginning at 1:30 p.m. ET. The online replay will follow shortly after the call ends and will be archived on the Company's website for 60 days.
About Alamo Group
Alamo Group is a leader in the design, manufacture, distribution and service of high quality equipment for vegetation management, infrastructure maintenance and other applications. Our products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements, forestry equipment and related after-market parts and services. The Company, founded in 1969, has approximately 4,275 employees and operates 29 plants in North America, Europe, Australia and Brazil as of June 30, 2022. The corporate offices of Alamo Group Inc. are located in Seguin, Texas.
Forward Looking Statements
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: overall market demand, continuing impacts from the COVID-19 pandemic including more significant supply chain disruptions, reductions in customer demand, sales and profitability declines, operational disruptions, full or partial facility closures, and other similar impacts, geopolitical risks, including effects of the war in Ukraine, inflation, competition, weather, seasonality, currency-related issues, and other risk factors listed from time to time in the Company's SEC reports. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.
(Tables Follow)
# # #
(1) This is a non-GAAP financial measure or other information relating to our GAAP financial measures that we have provided to investors in order to allow greater transparency and a deeper understanding of our financial condition and operating results. For a reconciliation of the non-GAAP financial measure or for a more detailed explanation of financial results, refer to "Non-GAAP Financial Measure Reconciliation" below and the Attachments thereto.
Alamo Group Inc.
Non-GAAP Financial Measures Reconciliation
From time to time, Alamo Group Inc. may disclose certain "non-GAAP financial measures" in the course of its earnings releases, earnings conference calls, financial presentations and otherwise. For these purposes, "GAAP" refers to generally accepted accounting principles in the United States. The Securities and Exchange Commission (SEC) defines a "non-GAAP financial measure" as a numerical measure of historical or future financial performance, financial position, or cash flows that is subject to adjustments that effectively exclude or include amounts from the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures disclosed by Alamo Group are provided as additional information to investors in order to provide them with greater transparency about, or an alternative method for assessing, our financial condition and operating results. These measures are not in accordance with, or a substitute for, GAAP and may be different from, or inconsistent with, non-GAAP financial measures used by other companies. Whenever we refer to a non-GAAP financial measure, we will also generally present the most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure we reference and such comparable GAAP financial measure.
Attachment 1 discloses Operating Income, Adjusted Net Income and Adjusted Diluted EPS, related to the impact of non-recurring items, of which are non-GAAP financial measures. Attachment 2 discloses a non-GAAP financial presentation related to the impact of currency translation on net sales by division. Attachment 3 shows the net change in our total debt net of cash and earnings before interest, taxes, depreciation and amortization ("EBITDA") which is a non-GAAP financial measure. The Company considers this information useful to investors to allow better comparability of period-to-period operating performance.
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SOURCE Alamo Group Inc. | https://www.wibw.com/prnewswire/2022/08/03/alamo-group-announces-record-2022-second-quarter-sales-earnings/ | 2022-08-03T20:32:01Z |
Seasoned veteran to help accelerate growth and shape the future of patient care
SAN DIEGO, Aug. 10, 2022 /PRNewswire/ -- Health Center Partners (HCP) of Southern California, the region's preeminent authority and health care policy advocate for community health and underserved patient populations, today announced the appointment of Raj Dugel, MD, to Medical Director of its subsidiary, Integrated Health Partners of Southern California (IHP), a clinically integrated network consisting of nine member health centers, with 300,000 lives under management, in San Diego and Riverside Counties. As a powerful advocate for primary care service providers and their patients, IHP seeks to improve health outcomes by improving quality of care through coordinating and integrating the efforts of member health centers. Dr. Dugel will provide clinical and population health leadership in partnership with IHP's member health centers throughout San Diego and Riverside Counties. As part of this important role, he will leverage his expertise in clinical medicine, medical informatics, and network development to help strengthen health centers' clinical operations and ultimately improve care quality and health outcomes.
"Health Center Partners is proud and pleased to welcome Raj to our family of companies," said Henry Tuttle, president and CEO of Health Center Partners of Southern California. "I'm excited to work together with Raj to create innovative care pathways for our 300,000 patients and their families to help make them and keep them healthy because we believe everyone deserves a fair and equitable opportunity to be as healthy as possible."
Dr. Dugel brings extensive experience in clinical medicine, medical informatics, network development, managed care, value-based care/payment, and administrative leadership to his role at IHP. Previously, he was Chief of the Department of Ophthalmology and Optometry and Regional Assistant Medical Director at Providence Health & Services in Los Angeles. Dr. Dugel concurrently serves as a Senior System-level Physician Epic Informaticist.
Prior to joining Providence, Dr. Dugel founded and directed the leading ophthalmology practice in the South Bay area of Los Angeles. During his long clinical career, Dr. Dugel negotiated and managed at-risk contracts covering up to 120,000 lives in capitated models. He was also a principal investigator for clinical trials and a USC teaching faculty.
Dr. Dugel received his medical degree from Columbia University College of Physicians and Surgeons in New York, followed by an internship at USC-LA County Medical Center, residency in Ophthalmology at Georgetown University in Washington DC, and a Cornea Transplant fellowship in USC-Doheny Eye Foundation in Los Angeles. As a board-certified ophthalmologist, he has been published extensively and has been featured in numerous regional magazines and cable television programs in the South Bay area of Los Angeles.
"I'm excited about my new role and this incredible, new chapter with IHP, and look forward to leveraging my background to help to improve the quality of health care outcomes at all our member health centers and the patients entrusted to their care," comments Dr. Dugel.
A premier consortium of primary health care organizations, Health Center Partners (HCP) is the voice and advocate for its members who serve the health needs of communities throughout southern California. We serve as a catalyst for transforming and enhancing primary care by helping our members deliver quality health care to the safety net population across southern California, through innovative programs, resources, and advocacy. A family of companies, HCP includes a 17-membership organization of Federally Qualified Health Centers, Indian Health Services Organizations, both urban and sovereign, and Planned Parenthood of the Pacific Southwest, collectively serving 848,000 unduplicated patients each year, for 3.4 million patient visits each year, at 192 practice sites across San Diego, Riverside, Imperial, San Bernardino, and Orange counties, with the seventh largest provider group in the region. For more information, visit https://hcpsocal.org/, become a fan on Facebook, or follow us on Instagram and Twitter.
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SOURCE Health Center Partners of Southern California | https://www.mysuncoast.com/prnewswire/2022/08/10/integrated-health-partners-southern-california-ihp-announces-appointment-raj-dugel-md-medical-director/ | 2022-08-10T12:30:57Z |
WASHINGTON, Sept. 2, 2022 /PRNewswire/ -- As the median home price has crept over $800,000, the benefits of living in California no longer outweigh the costs for an increasing number of Californians1. Since 1990, more than 3.8 million people have left the state than have moved in—slightly less than the total population of the city of Los Angeles. According to the IRS, net domestic and foreign outmigration increased to over 263,000, up from just under 168,000 in 2019. To keep the workers who keep its cities running, California needs more naturally affordable housing. To this end, the American Enterprise Institute is hosting a series of conferences throughout California to discuss how cities can create affordable and economically vibrant neighborhoods where families can put down roots.
By implementing Light Touch Density— the development of varied single-family homes with 1-4 units— housing can be built that stems the migration tide. According to a recent AEI study, as the number of housing units per acre built increases, the cost of those individual housing units decreases. Modestly increasing density with a "light touch" by building more duplexes, townhomes, or condos concentrates increased housing supply at the middle price points, directly increasing the amount of naturally affordable housing and slowing high home price appreciation. This filtering process parallels the car market, where new cars free up used cars at lower prices, and so on. Neighborhoods can maintain their residential character while increasing affordability just by incrementally increasing density.
Current homeowners that often fight against housing construction and want to stick around for the long haul have a lot to lose as California bleeds residents. There isn't enough housing for young adults to move out on their own and with the normalization of remote work, workers are not necessarily tethered to the office. But cities that get into a cycle of population loss will suffer from lower tax revenue, impacting fire and police, education, and parks and recreation.
Join AEI September 19-23 to learn how you and your community can take actionable steps to address California's housing crisis through SB 9, SB 10, and Light Touch Density.
Registration is open for 6 California free conferences to be held the week of September 19, 2022.
These conferences are free and open to all—please forward to anyone else who might have an interest. Each conference will be packed with information and presentations to help to tackle the most pressing housing issues facing Californians.
Visit aei.org/california-housing-conference to register
1 California Department of Finance, Finance Bulletin, August 2022.
Conference dates, times, and locations
Media Contact Details:
Arthur Gailes
American Enterprise Institute Housing Center
Washington, DC
aei.org/california-housing-conference
Arthur.gailes@aei.org
804-662-0874
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SOURCE AMERICAN ENTERPRISE INSTITUTE FOR PUBLIC POLICY RESEARCH | https://www.kxii.com/prnewswire/2022/09/02/light-touch-density-key-stopping-tide-departing-californians/ | 2022-09-02T17:31:49Z |
Five questions with ... speech and debate national winner Abreanna Blose
Abreanna Blose is a freshman studying journalism at Ohio University. She was born and raised in Canton. She graduated from Perry High School last year.
"I graduated high school with the support from my wonderful family including my mother and father, Daunel and John, and my two siblings, Jacob and Lydia," Blose said. "I hope to use my (college) degree to continue doing what I love: writing and advocating."
She is a member of Ohio University’s speech and debate team. In March, the team competed in the 2022 Pi Kappa Delta National Tournament hosted by the University of Central Florida in Orlando, Florida. The team won third place.
Blose stood out in the event because she was awarded one of the highest honors of the competition. She took home one of two national titles given to the best of the best. She earned the highly prestigious National Champion award in informative speaking.
More:Five questions with ... Jackson High senior class President Jarod Matronia
Did you participate in speech and debate at Perry High School and why?
I competed for the Perry High School speech and debate team all four years in high school. My senior year, I was a speech captain.
I chose to join speech and debate with the encouragement of my older brother who also competed on the team. Though I was hesitant at first, I ended up loving the sense of community the coaches and my teammates provided.
Winning a national award as a freshman in college is spectacular. Are you planning to compete in future years in college?
I plan to continue competing through college not only to pursue further individual success, but also to thrive alongside my teammates.
I truly love utilizing the platform the forensics community provides to speak about subjects that I care about.
More:Five questions with ... Lynn Shimko, co-creator of 720 Market
Why did you select the topic you did for your informative speech?
My topic for my informative speech was about the incel mindset. Incels are involuntary celibates who often blame women for their own lack of intimacy and lash out at society in return.
I chose this topic because incel terrorism has peaked over the past decade and is a growing cause for concern. The shocking content included in my speech allowed me to capture the attention of audiences and spread awareness.
Why do you feel speech and debate is important for students to take?
Speech and debate is extremely important for growth in many areas. It obviously allows students to grow as a public speaker, but also acts as a tool for expression. It is a great community for developing as a writer, researcher, performer and professional.
What does winning this national honor mean to you?
Winning the national honor was important to me because it was a measurement of the growth I have experienced over the past five years as a public speaker.
For supporting my efforts, I would like to thank my family, my high school speech coaches who dedicated so much time to me and to my current coach Jennifer Talbert who has helped me adapt my speech and perform to the best of my abilities.
Editor's note: Five questions with ... is a Sunday feature that showcases a member of the Stark County community. If you'd like to recommend someone to participate, send an email to newsroom@cantonrep.com. | https://www.cantonrep.com/story/news/local/2022/06/05/abreanna-blose-pi-kappa-delta-national-tournament-five-questions/9943832002/ | 2022-06-05T10:07:52Z |
NEW YORK, Aug. 8, 2022 /PRNewswire/ -- Bill Goldberg, WWE Hall of Famer is making the transition from the squared circle to the wellness mat. Goldberg is redefining himself through his partnership with Hemp2Lab to launch a new wellness line of products – GALLANT – that are scientifically designed to maximize nutrient delivery and athletic performance.
"Throughout my career, I've maximized my performance through proper training, and by paying a lot of attention to what I put into my body. I'm proud to partner with Hemp2Lab on developing this exceptional product line that can turbocharge your performance and improve everyday life," said Goldberg.
The Gallant products are powered by a breakthrough liposomal delivery technology (element6), which provides up to 10 times higher absorption and maximum nutrient delivery into the body. This new generation liposomal accelerates the delivery of nutrients into the bloodstream for fast acting results.
"Many CBD and nutritional supplement products do not meet consumer expectations. Gallant products are tailored for discerning consumers who expect high performance and uncompromising quality, safety, and consistency. The Gallant line is great value for the money" Says Bill Margaritis, CEO of Hemp2Lab.
Goldberg and Gallant are dedicated in delivering the highest quality of natural ingredients, THC Free organic hemp, vegan, gluten free, and made in the USA.
Without CBD:
- Pre-workout supplement
- Immune boost supplement
With CBD:
- Sleep Improvement
- Muscle relief cream
- Gummies
- Pure Oil Tincture
- Joint relief salve
The products will be initially marketed and sold directly to consumers via e-commerce channels, including http://www.madegallant.com. Goldberg and Hemp2Lab have partnered with NYC based agency Mutiny Industries to help create the brand and lead the marketing efforts.
Hemp2Lab is a premier manufacturer of premium wellness products, including a variety of CBD infused and nutraceutical products. Through its Food Grade Certified facility, the company adheres to the highest standards of safety, quality, and performance. The leadership team has over 100 years of combined scientific, engineering, and farming expertise. It's 10,000 square foot facility in Rossville, TN is cGMP compliant, and the extraction lab is C1D1 safety rated. Through its blockchain data capture platform, the company provides full transparency to customers about the entire life cycle of its manufacturing processes.
For more info, please contact: Press@mutiny.industries
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SOURCE Hemp2Lab | https://www.kxii.com/prnewswire/2022/08/08/wwe-superstar-bill-goldberg-launches-partnership-with-cbd-wellness-brand-gallant-hemp2lab/ | 2022-08-08T15:44:44Z |
SYRACUSE, N.Y. , Sept. 7, 2022 /PRNewswire/ -- The 54th Annual Butter Sculpture at the New York State Fair has come down, but it isn't going to waste.
American Dairy Association North East, in conjunction with Cornell Cooperative Extension Master Gardeners and Noblehurst Farms, dismantled the 800-pound sculpture at the New York State Fairgrounds. Ultimately, the butter – which was provided by O-AT-KA Milk Products in Batavia, N.Y., and was unsuitable for sale or consumption for a variety of reasons - will return to Western New York, less than 15 miles away from where it was originally produced, to be recycled at a local dairy farm.
Noblehurst Farms in Pavilion, N.Y., (Livingston County) will combine the butter with other food waste from local food manufacturers and educational institutions and run it through the farm's digester, converting it into energy. The digester breaks down the material and creates enough electricity to power the farm, the farm's on-site creamery and about 350 homes for a year. Specifically, the butter from the Butter Sculpture alone will be able to power one house for three days.
"We are honored to be recycling the New York State Fair Butter Sculpture for the seventh year in a row," said dairy farmer Chris Noble of Noblehurst Farms and Craigs Creamery. "We will mix the butter sculpture with other food waste and convert it to energy over the course of about 28 days. That energy will be created into electricity which will power homes in the local community."
In recent years, Noblehurst Farms has been recognized nationally for achievements in sustainability and community partnerships to divert food waste from local landfills. The result of Noblehurst's efforts have led to diverting 200 tons of food waste from local landfills on a weekly basis.
"Our awareness of the role that dairy farmers are playing in addressing the global food waste problem has definitely heightened," said Noble. "We are hopeful that our innovative food waste reduction practices will bring additional value as New York State focuses on reducing methane and sequestering carbon in the coming years."
This year's sculpture, "Refuel Her Greatness – Celebrating the 50th Anniversary of Title IX," spotlighted female athletes and how today's athletes refuel with chocolate milk.
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SOURCE American Dairy Association North East | https://www.mysuncoast.com/prnewswire/2022/09/07/new-york-state-fair-800-pound-butter-sculpture-recycled-into-energy-western-new-york-dairy-farm/ | 2022-09-07T17:57:51Z |
SAN JOSE, Calif., Sept. 6, 2022 /PRNewswire/ -- Whatfix today announced that it has been named a Leader for the third consecutive year in the Digital Adoption Platform (DAP) PEAK Matrix® Assessment 2022 released by Everest Group, a global research and analyst firm.
Despite an influx of new players entering the space, Whatfix was one of only two designated as a Leader, and saw a sharp improvement in its overall analytics offerings from the 2021 assessment. Whatfix also noted a strengthened position in the PEAK Matrix® from 2021, and a more distinct differentiation from competitors, especially on industry verticalization.
"We're excited to be recognized again as a Leader among digital adoption platforms," said Khadim Batti, CEO and co-founder, Whatfix. "Consistency and sustained excellence are baseline targets for Whatfix. We look forward to maintaining our leadership position by continuing to pursue technical excellence combined with relentless customer focus."
Everest Group highlighted Whatfix's ability to deliver scalable success for its clients by removing barriers between users and productivity. They lauded Whatfix's extensive partner ecosystem that spans across independent software vendors, system integrators and technology, analytics & AI vendors. Further, the report mentions personalized recommendations, automated testing, easy content creation & maintenance and flexible content delivery as some of Whatfix's key strengths. Everest Group also recognized the company's investment in its product analytics capabilities during the last year, which allows enterprises to track application utilization and recognize drop-offs, before or without creating any DAP content. This helps further drive adoption and efficiency by measuring gaps at an enterprise level.
"Whatfix is positioned as a Leader in the DAP Products PEAK Matrix® Assessment 2022, as a result of its investments in product capabilities and sustained market growth. It has deepened its capabilities in industry-specific solutions, element detection, product analytics, and support for mobile and desktop applications. Whatfix's strong roadmap and focus on innovation and customer experience places it well to serve the DAP buyers," said Sharath Hari N, Practice Director at Everest Group.
Everest Group's PEAK Matrix® is a proprietary framework used to assess the market impact and overall vision & capability of technology vendors. For the 2022 report, Everest Group evaluated 20 digital adoption platform (DAP) software providers.
"Whatfix does what all the competitors can but with better training, customer service, and price," said Brandon Copeland, Senior Director of Product Design at GlobalTranz, a leading provider of technology-driven transportation and supply chain management solutions. "Whatfix can do what the others cannot. The ability to utilize intelligent segmentation and the ability to have the walkthrough in multiple formats was a game changer for us. The training team is always available to help and very friendly."
Everest Group is a research firm focused on strategic IT, business services, and engineering services. Everest Group's PEAK Matrix® is compiled annually to provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments.
A complimentary custom copy of the report can be downloaded here.
Whatfix empowers anyone, anywhere to have scalable success with technology they use everyday, achieving greater knowledge, expanding capability, and unlocking productivity for themselves and their organizations. Whatfix's Digital Adoption Platform (DAP) integrates seamlessly with applications to enable users, providing in-context information and guidance to immediately increase individual capability and collectively amplify productivity. The organization has six offices globally in the US, India, UK, Germany, and Australia, and works with Fortune 500 companies around the world. Whatfix has raised $140 million to date, and is backed by marquee investors including Softbank Vision Fund 2, Sequoia Capital India, and Cisco Investments. For more information, visit Whatfix's website.
Media contact:
Dex Polizzi
Lumina Communications for Whatfix
Whatfix@luminapr.com
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SOURCE Whatfix | https://www.wibw.com/prnewswire/2022/09/06/whatfix-named-category-leader-third-consecutive-year-digital-adoption-platform-dap-peak-matrix-assessment-2022-by-everest-group/ | 2022-09-06T13:07:00Z |
Delivers strong revenue growth and expands non-GAAP operating margin
Reaffirms full year guidance on confidence in sustainable and agile operating structure
$318 million of share repurchases completed in Q1 and authorization expanded by $500 million
HAMILTON, Bermuda, June 9, 2022 /PRNewswire/ -- Signet Jewelers Limited ("Signet") (NYSE:SIG), the world's largest retailer of diamond jewelry, today announced its results for the 13 weeks ended April 30, 2022 ("first quarter Fiscal 2023").
"Signet's strong performance this quarter reflects our team's successful execution and agility amidst retail headwinds," said Virginia C. Drosos, Chief Executive Officer. "We generated nearly 9% topline growth, including 2.6% organic sales growth, enabled by our healthy inventory position, connected commerce capabilities and data-driven marketing. Customers responded to the breadth and newness within our assortment, particularly higher price point offerings, diamonds and precious metals. Our scale, strong balance sheet, and diversified banner portfolio provide flexibility to navigate macro level uncertainties, deliver consistent annual double-digit operating margin, and continue investing in differentiated capabilities to widen our competitive advantages."
"We are reaffirming our annual guidance and expanding our share repurchase authorization by $500 million," said Joan Hilson, Chief Financial and Strategy Officer. "While we anticipated and experienced softening within lower price points resulting from heightened inflation and the lack of stimulus, we delivered offsets through tailored assortments, digital capabilities and enhanced services to maintain higher average transaction values. At this time, we continue to focus on the factors under our control and leverage our competitive advantages as we navigate the impact of this macro-economic environment on consumer behavior. We believe that the strategies, agility and discipline of our team will enable us to continue to drive long-term value for our shareholders."
First Quarter Fiscal 2023 Highlights:
- Total sales were $1.8 billion, up $149.5 million or 8.9% to Q1 of FY22.
- Same store sales ("SSS") up 2.5% (1) to Q1 of FY22.
- GAAP operating income of $0.2 million, down from $168.7 million in Q1 of FY22, including the impact of charges related to the resolution of previously disclosed litigation.
- Non-GAAP operating income(2) of $194.6 million, up from $168.9 million in Q1 of FY22.
- GAAP diluted loss per share of $1.89, down from a diluted earnings per share ("EPS") of $2.23 in Q1 of FY22, including $2.92 in charges related to the resolution of previously disclosed litigation, $2.19 in non-cash charges related to the buy-out of substantially all of the UK pension plan obligations and $0.07 in charges relating to the fair value adjustment of acquired inventory.
- Non-GAAP diluted EPS(2) of $2.86, up from $2.23 in Q1 of FY22.
- Cash and cash equivalents, at quarter end, of $927.6 million.
- Cash used for operating activities of $135.5 million, down approximately $297 million to Q1 of FY22 and driven by inventory in-stock replenishment.
- Completed $318.2 million of share repurchases during Q1, including $50 million related to completion of the previously announced accelerated share repurchase ("ASR") agreement.
First Quarter Fiscal 2023 Results:
By reportable segment:
North America
- Total sales of $1.7 billion, up 5.4% to Q1 of FY22.
- SSS declined 0.9% to Q1 of FY22 reflecting higher average transaction value ("ATV") and a lower number of transactions.
International
- Total sales of $110.0 million, up 91.6% to Q1 of FY22.
- SSS grew 102.6% versus Q1 of FY22 reflecting prior year store operating restrictions, higher ATV and a higher number of transactions.
GAAP gross margin was $723.7 million, or 39.4% of sales, down 80 basis points to the first quarter last year. This primarily reflects similar merchandise margin to last year within organic banners and the strength of Diamonds Direct's bridal business which carries a lower relative margin. It also reflects the absence of COVID-related tax abatement within Signet's U.K. operations.
SG&A was $533.1 million, or 29.0% of sales, an improvement of 130 basis points to the first quarter last year. This improvement reflects the impact of the enhanced credit agreements finalized in the second quarter of Fiscal 2022, as well as the efficiency of Diamonds Direct's operating model, partially offset by labor investments implemented in the back half of last year.
GAAP operating income was $0.2 million or 0.0% of sales, compared to $168.7 million, or 10.0% of sales in the prior year first quarter.
Non-GAAP operating income was $194.6 million, or 10.6% of sales, compared to $168.9 million, or 10.0% of sales in prior year first quarter. Non-GAAP operating income excluded $190.0 million in charges related to the resolution of previously disclosed litigation and $4.4 million in charges relating to the fair value adjustment of acquired inventory.
The current quarter GAAP income tax benefit was $55.2 million compared to an income tax expense of $26.5 million in the prior year first quarter. On a non-GAAP basis, income tax expense was $18.6 million compared to income tax expense of $26.6 million in the prior year first quarter.
GAAP diluted loss per share was $1.89, including $2.92 in charges related to the resolution of previously disclosed litigation, $2.19 in non-cash charges related to the buy-out of substantially all of the U.K. pension obligations and $0.07 in charges relating to the fair value adjustment of acquired inventory. Excluding these charges (and related tax effects), diluted EPS was $2.86 on a non-GAAP basis.
GAAP EPS excludes the anti-dilutive impact of the preferred shares in the share count based on the net loss recorded in the first quarter of Fiscal 2023. Non-GAAP diluted EPS in the current quarter includes the dilutive impact of the preferred shares in the share count based on the level of non-GAAP net income this quarter.
Balance Sheet and Statement of Cash Flows Highlights:
Cash used for operating activities of $135.5 million in Q1 Fiscal 2023 compared to cash provided by operating activities of $161.1 million in the first quarter last year. Cash and cash equivalents were $927.6 million as of quarter end, compared to $1.3 billion last year. The year over year change to cash and equivalents was primarily driven by share repurchases and inventory in-stock replenishment, as well as the acquisition of Diamonds Direct in the prior year.
Ending inventory was $2.2 billion, up approximately $200 million to the first quarter last year as a result of the Company's acquisition of Diamonds Direct in November 2021.
Return of Capital:
Signet's Board of Directors has declared a quarterly cash dividend on common shares from $0.20 per share for the second quarter of Fiscal 2023, payable August 26, 2022 to shareholders of record on July 29, 2022, with an ex-dividend date of July 28, 2022.
As of April 30, 2022 Signet repurchased approximately 4.3 million shares at an average cost per share of $73.42 or $318.2 million, including $50 million of repurchases related to the Company's completion of its previously announced ASR. Approximately $645 million remains under the Company's newly expanded authorization.
Our Purpose and Sustainable Growth:
As a company with a Purpose-inspired business strategy, Signet is committed to ongoing leadership in Corporate Citizenship & Sustainability and views Environmental, Social and Governance ("ESG") initiatives as an important growth driver. Signet released its Fiscal 2022 Corporate Citizenship & Sustainability Report with a progress report on its 2030 Corporate Sustainability Goals. The report reflects the Company's commitment to its Corporate Sustainability framework defined by Love for All People; Love for our Team; and Love for our Planet and Products. Since the release of its Corporate Sustainability Goals, approximately one year ago, the Company has successfully integrated the Inspiring Brilliance business strategy and long-term corporate sustainability initiatives into its culture and day to day business operations.
Fiscal 2023 Guidance:
Signet is reaffirming its Fiscal 2023 annual outlook which is provided on a non-GAAP basis.
Forecasted non-GAAP operating income provided above excludes potential non-recurring charges. However, given the potential impact of non-recurring charges to the GAAP operating income, we cannot provide forecasted GAAP operating income or the probable significance of such items without unreasonable efforts. As such, we do not present a reconciliation of forecasted non-GAAP operating income to corresponding GAAP operating income.
The Company's second quarter and Fiscal 2023 Outlook is based on the following assumptions:
- The Company's outlook includes a level of consumer pressure, including inflation and the impact of stimulus, similar to what is currently being experienced. The Company's outlook does not include a material worsening of macroeconomic factors which could impact consumer spending patterns and have associated impacts on business performance.
- Signet continues to anticipate some shift of consumer discretionary spending away from the jewelry category reflecting decelerating levels of consumer confidence and pent-up demand for experience-oriented categories during the year.
- Signet's efforts to mitigate supply chain disruption have been effective thus far. Guidance assumes no significant disruptions in availability of inventory.
- Annual effective tax rate of approximately 19% assumes no additional discrete items and no changes in current tax laws during the remainder of Fiscal 2023.
- The above guidance excludes non-recurring charges for Fiscal 2023 related to the resolution of previously disclosed legal matter of $190 million, approximately $11 million relating to the fair value adjustment of acquired inventory that will be recognized within cost of sales in Fiscal 2023, and the non-operating non-cash charges for the buy-out of substantially all of the UK pension obligations of approximately $132 million.
- Earnings per share excludes any further share repurchases.
- Planned capital investments up to $250 million, reflecting continued investments in Connected Commerce capabilities, banner differentiation and technology harmonization.
Conference Call:
A conference call is scheduled for June 9, 2022 at 8:30 a.m. ET and a simultaneous audio webcast is available at www.signetjewelers.com. The call details are:
Toll Free US Dial-in: 1-844-200-6205
Toll Free Canada Dial-in: 1-833-950-0062
International Dial-In: +1 929-526-1599
Access Code: 305452
Conference call participants may also pre-register at:
https://www.incommglobalevents.com/registration/q4inc/10951/signet-jewelers-first-quarter-fiscal-2022-earnings-call/
A replay and transcript of the call will be posted on Signet's website as soon as they are available and will be accessible for one year.
About Signet and Safe Harbor Statement:
Signet Jewelers Limited is the world's largest retailer of diamond jewelry. As a purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Signet is a Great Place to Work –Certified™ company and has been named to the Bloomberg Gender-Equality Index for four consecutive years. Signet operates approximately 2,800 stores primarily under the name brands of Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, JamesAllen.com, Peoples, H. Samuel, Ernest Jones and the jewelry subscription service, Rocksbox. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.banter.com, www.diamondsdirect.com, www.jamesallen.com, www.peoplesjewellers.com, www.hsamuel.co.uk, www.ernestjones.co.uk and www.rocksbox.com.
This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements based upon management's beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words "expects," "intends," "anticipates," "estimates," "predicts," "believes," "should," "potential," "may," "preliminary," "forecast," "objective," "plan," or "target," and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties which could cause the actual results to not be realized, including, but not limited to: the negative impacts that the COVID-19 pandemic has had, and could have in the future, on Signet's business, financial condition, profitability and cash flows; the effect of steps we take in response to the pandemic; the severity, duration and potential resurgence of the pandemic (including through variants), including whether it is necessary to temporarily reclose our stores, distribution centers and corporate facilities or for our suppliers and vendors to temporarily reclose their facilities; the pace of recovery when the pandemic subsides and the heightened impact it has on many of the risks described herein, including without limitation risks relating to disruptions in our supply chain, our ability to attract and retain labor especially if COVID-19 vaccine mandates are implemented, consumer behaviors such as willingness to congregate in shopping centers and shifts in spending away from the jewelry category toward more experiential purchases, the impacts of the expiration of government stimulus on overall consumer spending, our level of indebtedness and covenant compliance, availability of adequate capital, our ability to execute our business plans, our lease obligations and relationships with our landlords, and asset impairments; general economic or market conditions, including impacts of inflation or other pricing environment factors on the Company's commodity costs (including diamonds) or other operating costs; a prolonged slowdown in the growth of the jewelry market or the overall economy; financial market risks; a decline in consumer discretionary spending or deterioration in consumer financial position, including the impacts of inflation and rising prices on necessities such as gas and groceries; our ability to optimize Signet's transformation strategies; changes to regulations relating to customer credit; disruption in the availability of credit for customers and customer inability to meet credit payment obligations; our ability to achieve the benefits related to the outsourcing of the credit portfolio, including due to technology disruptions, future financial results and operating results and/or disruptions arising from changes to or termination of the relevant outsourcing agreements; deterioration in the performance of individual businesses or of the Company's market value relative to its book value, resulting in impairments of long-lived assets or intangible assets or other adverse financial consequences; the volatility of our stock price; the impact of financial covenants, credit ratings or interest volatility on our ability to borrow; our ability to maintain adequate levels of liquidity for our cash needs, including debt obligations, payment of dividends, planned share repurchases (including execution of accelerated share repurchases) and capital expenditures as well as the ability of our customers, suppliers and lenders to access sources of liquidity to provide for their own cash needs; changes in our credit rating; potential regulatory changes; future legislative and regulatory requirements in the US and globally relating to climate change, including any new climate related disclosure or compliance requirements, such as those recently proposed by the SEC; global economic conditions or other developments related to the United Kingdom's exit from the European Union; exchange rate fluctuations; the cost, availability of and demand for diamonds, gold and other precious metals, including any impact on the global market supply of diamonds due to the ongoing Russia-Ukraine conflict or related sanctions; stakeholder reactions to disclosure regarding the source and use of certain minerals; seasonality of Signet's business; the merchandising, pricing and inventory policies followed by Signet and failure to manage inventory levels; Signet's relationships with suppliers including the ability to continue to utilize extended payment terms and the ability to obtain merchandise that customers wish to purchase; the failure to adequately address the impact of existing tariffs and/or the imposition of additional duties, tariffs, taxes and other charges or other barriers to trade or impacts from trade relations; the level of competition and promotional activity in the jewelry sector; our ability to optimize Signet's multi-year strategy to gain market share, expand and improve existing services, innovate and achieve sustainable, long-term growth; the maintenance and continued innovation of Signet's OmniChannel retailing and ability to increase digital sales, as well as management of its digital marketing costs; changes in consumer attitudes regarding jewelry and failure to anticipate and keep pace with changing fashion trends; changes in the supply and consumer acceptance of and demand for gem quality lab created diamonds and adequate identification of the use of substitute products in our jewelry; ability to execute successful marketing programs and manage social media; the ability to optimize Signet's real estate footprint; the ability to satisfy the accounting requirements for "hedge accounting," or the default or insolvency of a counterparty to a hedging contract; the performance of and ability to recruit, train, motivate and retain qualified team members - particularly in regions experiencing low unemployment rates; management of social, ethical and environmental risks; the reputation of Signet and its banners; inadequacy in and disruptions to internal controls and systems, including related to the migration to new information technology systems which impact financial reporting; security breaches and other disruptions to Signet's information technology infrastructure and databases; an adverse development in legal or regulatory proceedings or tax matters, including any new claims or litigation brought by employees, suppliers, consumers or shareholders, regulatory initiatives or investigations, and ongoing compliance with regulations and any consent orders or other legal or regulatory decisions; failure to comply with labor regulations; collective bargaining activity; changes in corporate taxation rates, laws, rules or practices in the US and jurisdictions in which Signet's subsidiaries are incorporated, including developments related to the tax treatment of companies engaged in Internet commerce or deductions associated with payments to foreign related parties that are subject to a low effective tax rate; risks related to international laws and Signet being a Bermuda corporation; difficulty or delay in executing or integrating an acquisition, including Diamonds Direct, or executing other major business or strategic initiatives; risks relating to the outcome of pending litigation; our ability to protect our intellectual property or physical assets; changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions; or the impact of weather-related incidents, natural disasters, organized crime or theft, strikes, protests, riots or terrorism, acts of war (including the ongoing Russian-Ukraine conflict), or another public health crisis or disease outbreak, epidemic or pandemic on Signet's business.
For a discussion of these and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward looking statement, see the "Risk Factors" and "Forward-Looking Statements" sections of Signet's Fiscal 2022 Annual Report on Form 10-K filed with the SEC on March 17, 2022 and quarterly reports on Form 10-Q and the "Safe Harbor Statements" in current reports on Form 8-K filed with the SEC. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.
Investors:
Vinnie Sinisi
SVP Investor Relations
+1-330-665-6530
vincent.sinisi@signetjewelers.com
Media:
Colleen Rooney
Chief Communications & ESG Officer
+1-330-668-5932
colleen.rooney@signetjewelers.com
GAAP to Non-GAAP Reconciliations
The following information provides reconciliations of the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the U.S. ("GAAP") to presented non-GAAP financial measures. The Company believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, can provide more information to assist investors in evaluating historical trends and current period performance. For these reasons, internal management reporting also includes non-GAAP measures. Items may be excluded from GAAP financial measures when the Company believes this provides useful supplementary information to management and investors in assessing the operating performance of our business.
These non-GAAP financial measures should be considered in addition to, and not superior to or as a substitute for the GAAP financial measures presented in this earnings release and the Company's condensed consolidated financial statements and other publicly filed reports. In addition, our non-GAAP financial measures may not be the same as or comparable to similar non-GAAP measures presented by other companies.
In discussing financial results, the Company refers to free cash flow that is not in accordance with GAAP and is defined as the net cash (used in) provided by operating activities, less purchases of property, plant, and equipment. Free cash flow does not represent the residual cash flow available for discretionary purposes.
Real Estate Portfolio:
Signet has a diversified real estate portfolio. On April 30, 2022, Signet had 2,854 stores totaling 4.2 million square feet of selling space. Compared to year-end Fiscal 2022, store count net stayed flat and square feet of selling space increased 0.4%.
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SOURCE Signet Jewelers Ltd. | https://www.kxii.com/prnewswire/2022/06/09/signet-jewelers-reports-first-quarter-fiscal-2023-results/ | 2022-06-09T12:34:37Z |
Strategic Partners STS Capital Partners Led the Sale and Carson Wealth Provided Financial Guidance
MIAMI, July 26, 2022 /PRNewswire/ -- CEO Coaching International, the leading executive coaching firm for growth-focused CEOs and entrepreneurs globally, is pleased to congratulate its client, Quicken Steel LLC, on recently being acquired by Majestic Steel USA, Inc. This marks CEO Coaching International's 50th client exit, the majority of which have been eight, nine, or 10-figure exits.
According to the press release, Quicken Steel, a manufacturer of steel buildings and components based in Claxton, Georgia, "will continue to operate independently while using Majestic resources to create synergies. With a niche in providing short lead-times and the quick installation of steel buildings, it's a downstream opportunity that aligns with Majestic's approach to growth and innovation."
"I feel very blessed to have connected with CEO Coaching International when I did," said Jonathan Sherrill, President of Quicken Steel. "My coach, John Giegerich, is world-class, and brought tremendous value to me, my team, and the whole acquisition process."
"I'm proud of Jonathan and his leadership team and all they've done to achieve this major goal," said John Giegerich, a CEO Coaching International partner and coach who has worked closely with Sherrill for more than a year. "I look forward to Quicken continuing to grow as they execute our strategy as part of the Majestic Steel family."
Two CEO Coaching International Strategic Partners were instrumental to the transaction. Global M&A firm STS Capital Partners led the sale as the sell-side investment bank advisor, and wealth strategists Carson Wealth worked with President Jonathan Sherrill on tax and estate planning.
For more information about Quicken Steel, visit https://www.quicksteelbuildings.com. For more information about CEO Coaching International or to connect with an executive coach, visit CEOCoachingInternational.com/contact.
CEO Coaching International works with CEOs and their leadership teams to achieve extraordinary results quarter after quarter, year after year. Known globally for its success in coaching growth-focused entrepreneurs to meaningful exits, CEO Coaching International has coached more than 1,000 CEOs and entrepreneurs in more than 60 countries and 45 industries. The coaches at CEO Coaching International are former CEOs, presidents, or executives who have made BIG happen. The firm's coaches have led double-digit sales and profit growth in businesses ranging in size from startups to over $10 billion, and many are founders that have led their companies through successful eight, nine, and ten-figure exits. Companies working with CEO Coaching International for three years or more have experienced an average EBITDA CAGR of 30.4% during their time as a client, more than three times the U.S. average and a revenue CAGR of 18.6%, nearly twice the U.S. average. For more information, please visit: https://www.ceocoachinginternational.com.
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- Seven key clinical milestones achieved year-to-date, including positive data readouts for lemzoparlimab, uliledlimab, and TJ-CD4B
- Lemzoparlimab is on track for Phase 3 study for 1L MDS
- Amendment to the global partnership with AbbVie for certain new CD47 antibodies currently in development with up to US$1.295 billion in milestone payments
- Significant progress made on the expanded uliledlimab phase 2 NSCLC clinical trial with more complete dataset to be expected
- Continued focus on key value drivers of five clinical-stage assets with three potential BLAs within the next three years
- Repositioned commercialization strategy for felzartamab and eftansomatropin alfa
- Total cash position of US$586 million (RMB3.9 billion), sufficient to fund key business operations for more than three years
I-Mab will host conference calls and webcasts on August 30, 2022. A Mandarin session will be held at 7:00 a.m. ET and an English session will be held at 8:15 a.m. ET.
GAITHERSBURG, Md. and SHANGHAI, Aug. 30, 2022 /PRNewswire/ -- I-Mab (the "Company") (Nasdaq: IMAB), a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics, today announced financial results for the six months ended June 30, 2022, and provided key business updates.
During this reporting period, the Company has implemented a series of strategic initiatives that aim to re-position its overall business priorities to focus on key value drivers while preserving a strong cash position estimated to be sufficient to support its key business operations for more than three years.
Specifically, the Company will continue to drive value by leveraging its global R&D competitive advantages in immuno-oncology, which has been demonstrated in the Company's short history with such examples as lemzoparlimab, uliledlimab and TJ-CD4B. Today, our pipeline is not only innovative but also advanced as certain key assets move towards BLA and near-term commercialization, including felzartamab and eftansomatropin alfa. The Company's current business model relies on a two-pillar approach to realize the value of innovation. The first pillar is to partner out the global rights of its innovative assets after global phase 1 or phase 2 clinical validation while retaining the rights for clinical development, manufacturing, and commercialization in China. This is exemplified by the global partnership with AbbVie for lemzoparlimab. The Company will continue to pursue more partnership opportunities for other global assets in its pipeline. The second pillar is to rapidly develop the assets towards BLA and commercialization in China and then partner with large pharmaceutical companies which have well-established sales forces and proven commercialization capabilities to market the products in China. This approach is exemplified by the commercial partnership with Jumpcan for eftansomatropin alfa. The Company is seeking similar commercial partnerships for other late-stage assets, including felzartamab. In addition to the broad strategic approach outlined above, the Company is committed to the following:
Firstly, following a systematic review of its pipeline development and overall business, the Company has prioritized its resources to focus on five key clinical stage assets with 10 ongoing and planned clinical trials. These prioritized programs represent the Company's key value drivers as significant progress in these prioritized programs will not only accelerate the clinical development towards pivotal or registrational studies (such as lemzoparlimab and uliledlimab) but also facilitate global business development deals. The Company is currently pursuing potential global partnership deals for uliledlimab and TJ-CD4B.
Secondly, the Company's current commercialization strategy aims to maximize the commercial value of its pre-BLA products through commercial partnerships typically structured with upfront, regulatory, and sales milestone payments along with significant sales royalties. A commercial partnership for eftansomatropin alfa was established with Jumpcan in 2021 and is progressing as planned. By doing so, the Company is able to avoid investing significant resources to build its sales forces and instead allocate the resources to deliver the value-driver milestones or catalysts. The Company is currently pursuing a similar commercial partnership for felzartamab.
Thirdly, the Company will continue to invest in the discovery and development of its next-generation pipeline assets. I-Mab's next-generation innovative pipeline is strategically designed and driven by cutting-edge science and technology, with a focus on first-in-class and best-in-class potential. Multiple novel assets focusing on innovative bi-specific antibodies and cytokine-based immune adjuvants are on track to advance towards an IND enabling stage with a goal to achieve four to five INDs or Phase 1 study initiations around 2025.
Fourthly, through a strategy of re-positioning the pipeline to prioritize key assets with high probability of commercial success, the Company has been making significant efforts to preserve its strong cash position. As of June 30, 2022, the Company had a total cash position, consisting of cash, cash equivalents, and short-term investments, of US$586 million (RMB3.9 billion), which the Company estimates to be sufficient to fund its key business operations for over three years.
"As we weather turbulent market conditions worldwide, we must prioritize our resources to focus on value-driving assets while continuing to deliver on key milestones and strengthening the Company's fundamentals," said Dr. Jingwu Zang, Founder, Chairman, and Acting CEO. "We have achieved seven critical clinical milestones year-to-date, including positive data readouts for lemzoparlimab, uliledlimab and TJ-CD4B. In our pipeline development, we have also made significant progress on lemzoparlimab. Phase 2 data will be presented in a proffered presentation at the upcoming European Society for Medical Oncology (ESMO) Congress in September, and we are on track to initiate a registrational trial in China by the end of 2022. We expect to see additional data from the expanded phase 2 study of uliledlimab in the fourth quarter of 2022."
Dr. Zang added, "Another key focus is the current registrational studies towards anticipated BLAs between now and 2024 and subsequent commercialization for felzartamab and eftansomatropin alfa. We have a clear strategy to focus on creating value for our shareholders while preserving a strong cash position to support our key business operations for over three years."
"On the corporate development front, business development remains a key strategic priority for the Company, and we continue to pursue potential partnership opportunities. Looking ahead, we remain confident in achieving critical clinical and corporate milestones by year-end to continue to create value for our stakeholders." Dr. Zang concluded.
Updated Pipeline Development Highlights and Upcoming Milestones
The Company's drug pipeline has a number of critical features: (1) The pipeline is innovative and globally competitive, comprised of three generations of products with first-in-class and best-in-class potential. This is exemplified by the first generation of differentiated drug assets, such as felzartamab and eftansomatropin alfa, which are in registrational trial or at a pre-BLA stage, as well as novel monoclonal antibodies such as lemzoparlimab and uliledlimab, which are in phase 2 clinical trials or preparation for phase 3. The second generation of even more innovative bi-specific antibody assets, including TJ-CD4B and TJ-L14B, are in phase 1 clinical trials, followed by additional bi-specific antibody assets progressing towards an IND enabling stage. The new discovery initiatives for the third-generation innovation are on the way for high-risk and high-value drug candidates enabled by transformative technologies. (2) The pipeline is focused on immuno-oncology and biologics, leveraging its unique R&D and CMC strengths. (3) The pipeline is advanced with three assets are either in phase 3 or registrational studies or planned for phase 3. The Company expects to achieve three potential BLA submissions or market launches between 2023 and 2025.
The chart below summarizes the development status of the Company's clinical stage pipeline (pre-clinical programs are not shown).
(1) Five prioritized clinical assets:
Lemzoparlimab (Phase 3 planned): The current focus is on the combination therapy of lemzoparlimab with azacytidine (AZA) for the treatment of newly diagnosed myelodysplastic syndromes (MDS) with the goal of being first-to-market in China. The probability of success is supported by collective safety data based on nearly 200 patients from multiple clinical trials and the positive efficacy data, especially from the phase 2 study in patients with MDS. Active communications are ongoing with the China CDE and NMPA for the initiation of a registrational trial by the end of 2022, depending upon the regulatory process and the preparation of the clinical sites around the country. In parallel, two other studies, including solid tumor indications are ongoing.
Clinical development progress and update on global strategic partnership with AbbVie. Lemzoparlimab, a novel CD47 antibody developed by the Company, is being investigated through a comprehensive clinical development plan for hematologic malignancies and solid tumors. The Company's near-term priority is to initiate a phase 3 registrational trial in newly diagnosed higher-risk MDS patients by Q4 2022, potentially making lemzoparlimab the first CD47 product in China. I-Mab is currently leading three clinical studies of lemzoparlimab, with about 200 patients treated across different indications. Safety Data. Overall, the safety data from multiple clinical trials in the U.S. and China involving nearly 200 cancer patients have demonstrated a good safety profile of lemzoparlimab without the need for a priming dose regimen. Efficacy Data. Lemzoparlimab has shown encouraging efficacy signals in different tumor indications from multiple clinical trials. In particular, recent phase 2 data from lemzoparlimab combination therapy with AZA indicated that lemzoparlimab exerted a comparable level of clinical efficacy with magrolimab in a similar therapeutic setting as described below.
- Lemzoparlimab in combination with AZA for AML and MDS: Over 90 patients with newly diagnosed MDS or acute myeloid leukemia (AML) have been dosed with lemzoparlimab at 30 mg/kg in combination with AZA in China. This patient cohort had a more severe disease at baseline due to disease conditions and clinical practice patterns in China. I-Mab's recent data analysis of the MDS cohort, including over 50 patients who received the combination treatment, showed that without a priming dose, lemzoparlimab was well tolerated. The Company observed significant clinical responses as defined by the overall response and complete response rates, which improved over time (Figure 1). Detailed safety and efficacy data, along with gene mutation analysis, will be presented in a proffered paper at the European Society for Medical Oncology (ESMO) Congress 2022.
Phase 3 clinical trial of lemzoparlimab in combination with AZA as a 1L treatment for MDS. An end-of-phase 2 (EOP2) meeting request was submitted to China CDE and NMPA and discussion is ongoing with CDE to initiate a phase 3 clinical trial in patients with MDS by the end of 2022.
Lemzoparlimab in combination with rituximab for non-Hodgkin's lymphoma (NHL): The dose expansion trial is ongoing to enroll more patients. The preliminary data were reported at ASH 2021.
Lemzoparlimab in combination with PD-1 therapy for solid tumors: Phase 2 clinical trial in combination with a PD-1 antibody (pembrolizumab or toripalimab) are ongoing in patients with selected advanced solid tumors.
Update on AbbVie partnership: On August 15, 2022, the Company and AbbVie entered into an amendment to the original license and collaboration agreement dated September 3, 2020 between the parties on CD47 antibody therapies (as amended, the "Agreement"). Both parties will continue to collaborate on the global development of anti-CD47 antibody therapy under the Agreement. The Company will be eligible to receive, and AbbVie will pay, up to US$1.295 billion in the development, regulatory and sales milestone payments, and the tiered royalties at rates from mid-to-high single digit percentages on global net sales outside of Greater China for certain new anti-CD47 antibodies currently in development, or the original milestone payments and tiered royalties previously disclosed in the Company's Form 20-F for the fiscal year 2021 for other licensed products. The Company has the exclusive right to develop and commercialize all licensed products under the Agreement in Greater China.
The Company continues its commitment to lemzoparlimab development based on the accumulative safety data, without the need for a priming dosing regimen, from nearly 200 cancer patients as well as the efficacy data, especially from a Phase 2 study of combination therapy of lemzoparlimab and AZA in patients with higher risk MDS. The detailed data will be presented in a proffered paper at the European Society for Medical Oncology (ESMO) Congress in September 2022. The Company is on track to initiate a Phase 3 clinical trial in patients with MDS in China as planned.
AbbVie has discontinued the global Phase 1b study of lemzoparlimab combination therapy with AZA and venetoclax, in patients with MDS and AML. This decision was not based on any specific or unexpected safety concerns.
Uliledlimab (End of Phase 2, Pivotal Study Planned in 2023): A highly differentiated CD73 antibody being developed for solid tumor indications. The Company is currently advancing uliledlimab in two phase 2 clinical trials in the U.S. and China in selected tumor types for clinical proof-of-concept. The current development focus is on non-small cell lung cancer (NSCLC) as a combination therapy with a PD-1 antibody to aim for the potential initiation of a pivotal clinical study in 2023.
Phase 2 clinical study of uliledlimab in combination with PD-1 antibody (toripalimab) in advanced NSCLC: The Company presented the preliminary clinical results of an ongoing phase 2 clinical study of uliledlimab in combination with toripalimab (TUOYI®) in patients with NSCLC at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting. The results are largely consistent with those observed in phase 1 clinical trial in relation to favorable safety, pharmacokinetics (PK), and pharmacodynamic (PD) profile of uliledlimab. Uliledlimab appears safe and well-tolerated up to the highest doses tested at 30 mg/kg Q3W, as a monotherapy and as a combination therapy with toripalimab with no dose limiting toxicity (DLT). Uliledlimab exhibited a linear PK profile at doses ≥ 5mg/kg and a dose-dependent receptor occupancy with no "hook effect" where the antibody loses its effectiveness at high concentrations.
The phase 2 preliminary efficacy data as of March 29, 2022, are summarized as follows. Among the three NSCLC patient cohorts who were under different treatment settings, clinical responses varied. The highest clinical response rate was observed in the patient cohort with advanced NSCLC (mostly stage 4 disease) who were previously ineligible for standard of care treatment. Among 19 efficacy evaluable patients from this cohort, 5 partial responses (5 PR, overall response rate [ORR]=26%) and 9 stable disease (9 SD, disease control rate [DCR] =74%) were observed. Approximately 80% of patients in this cohort showed low PD-L1 expression in baseline tumor samples (tumor proportion score [TPS] 1-49% or TPS<1%) who were considered less responsive to a checkpoint inhibitor therapy as demonstrated in KEYNOTE-042 (ORR=16.9% for patients with PD-L1 TPS 1-49%). Notably, the clinical response observed in this patient cohort correlated with tumor CD73 expression. In a subgroup of 7 patients with high CD73 expression (≥35% expression level in tumor cells or immune cells), ORR (4 PR) was 57% with 100% DCR (3 SD) (Table 1). While the other two heavily treated NSCLC cohorts showed a lower clinical response.
Based on the preliminary data mentioned above, the phase 2 clinical trial was expanded to focus on enrolling the selected patient cohort with advanced NSCLC who were previously ineligible for standard of care treatment for further evaluation of treatment efficacy as well as the role of CD73 as a potential predictive biomarker.
The current status of the expanded phase 2 clinical trial in patients with NSCLC: As of August 2022, 47 patients have been enrolled in this expanded cohort, and more data are being collected. At a high level, the new data have further confirmed the compelling safety and encouraging efficacy signals as well as the correlation between high tumor expression of CD73 and clinical response in patients with NSCLC. The Company's goal is to speed up the expanded phase 2 study and complete the target enrollment of 60 patients within the next two months. A more complete dataset is expected by Q4 2022. The Company is seeking a suitable opportunity to present the new dataset either by the end of 2022 or early 2023. In parallel, the company is in the process of exploring a potential global partnership deal.
Development of companion diagnostic (CDx) kit of CD73: Based on the correlation data between clinical response and tumor CD73 expression, I-Mab is collaborating with WuXi Diagnostics to develop a standardized companion diagnostic kit of CD73 to be employed in the planned pivotal clinical trial in 2023.
Felzartamab (BLA ready for 3L MM, Phase 3 for 2L MM): A differentiated CD38 antibody for the treatment of relapsing and refractory multiple myeloma (MM) and potentially autoantibody-mediated autoimmune diseases such as membranous nephropathy. A new combination therapy with lemzoparlimab for high-risk MM is being investigated pre-clinically. The Company owns the rights for the development, manufacturing, and commercialization of felzartamab in Greater China from MorphoSys.
Felzartamab is positioned as the first and only locally manufactured CD38 antibody to be commercially more competitive in China. Although the current BLA plan is based on an imported drug license application, the Company has a manufacturing plan by leveraging the manufacturing facility held by I-Mab Biopharma (Hangzhou) Limited ("I-Mab Hangzhou"), an unconsolidated investee of the Company, for future commercial production with potentially low cost of goods.
China BLA ready for third-line MM: The registrational trial has been completed, and the topline data have met the preset primary and secondary endpoints. More importantly, the clinical data have confirmed the clinical advantages of felzartamab in terms of lower infusion-related reaction rate and shorter infusion time, which has made it possible for its use in an outpatient clinic setting. In January 2022, the Company signed a partnership agreement with the Hangzhou Qiantang Government in China to manufacture felzartamab locally to accelerate its commercialization. The local manufacturing plan is expected to significantly reduce the cost of goods and render felzartamab commercially more competitive. The Company is exploring potential commercial partnership for felzartamab in China, which, if successful, will enable the Company to maximize the value of felzartamab while avoiding investing significant resources in building up commercialization capability at this time.
China phase 3 trial as a second-line treatment for MM: Patient enrollment for a randomized, open-label, parallel-controlled phase 3 registrational trial of felzartamab in combination with lenalidomide as a second-line treatment for MM was completed in September 2021. The topline data package, if fully matured in 2023, is expected to support a potential BLA submission.
New potential combination therapy with lemzoparlimab: CD47 is consistently and highly expressed on MM tumor cells expressing various levels of CD38; the Company investigated the possibility of combining felzartamab with lemzoparlimab for a more effective treatment for MM in a pre-clinical setting. The results supported that the combination therapy has a synergistic effect on MM. The data have been submitted to ASH 2022 for presentation.
Eftansomatropin alfa (Phase 3, BLA ready in 2023): A differentiated long-acting growth hormone for pediatric growth hormone deficiency (PGHD). Eftansomatropin alfa is the only rhGH in its proprietary fusion protein format (pure protein-based molecule) without chemically linking with PEG or other moieties. Its safety, tolerability, and efficacy have been well demonstrated in a phase 2 clinical trial in the EU. The Company has the rights for the development, manufacturing, and commercialization of eftansomatropin alfa in China from Genexine.
Phase 3 clinical trial for PGHD: This phase 3 registrational trial (TALLER) of eftansomatropin alfa as a weekly treatment for PGHD patients is ongoing in China. On May 31, 2022, the Company announced the completion of patient enrollment in the TALLER study for treatment of PGHD. TALLER is a multi-center, randomized, open-label, active-controlled phase 3 clinical study (NCT04633057) that has enrolled 168 patients in China. The study aims to evaluate the efficacy, safety, and pharmacokinetics (PK) of eftansomatropin alfa in PGHD, as compared to Norditropin®, a daily rhGH marketed in China. Following the completion of the enrollment in May 2022, the final dataset from the TALLER study is anticipated in Q3 2023, which is expected to be followed by a BLA submission in Q4 2023 or Q1 2024.
Strategic commercial partnership with Jumpcan: In November 2021, the Company announced a strategic commercial partnership with Jumpcan, a leading domestic pharmaceutical company specializing in and committed to pediatric medicines, to accelerate the commercialization of eftansomatropin alfa. I-Mab will be the marketing authorization holder (MAH) of the product and supply the product at an agreed cost rate to Jumpcan. Jumpcan will be responsible for commercializing the product and developing new indications in collaboration with I-Mab in mainland China. Jumpcan has made an upfront payment of RMB224 million to I-Mab. Further, upon achievement of development, registration and sales milestones, I-Mab will be eligible to receive milestone payments in aggregate of up to RMB1.792 billion and total non-royalty payments up to RMB2.016 billion. In addition, I-Mab and Jumpcan will share profits generated from the commercialization of the product in mainland China on a 50/50 basis, pursuant to which I-Mab will be entitled to receive tiered low double-digit royalties on net sales. This partnership deal represents one of the largest in China's biopharma market.
TJ-CD4B/ABL111 (Phase 1): A novel Claudin 18.2 and 4-1BB bi-specific antibody is composed of a highly potent Claudin18.2 IgG with high binding affinity even in Claudin18.2 low-expressing tumors and a unique 4-1BB scFv which could stimulate T cells only upon tumor cell engagement to avoid systemic and liver toxicity. TJ-CD4B is designed to treat patients with Claudin18.2 positive gastric and pancreatic cancer. In March 2022, the Company received FDA Orphan Drug Designation for TJ-CD4B for the treatment of gastric cancer, including cancer of the gastroesophageal junction.
Phase 1 clinical trial of TJ-CD4B in patients with advanced or metastatic solid tumors: The dose escalation part of the study reached 8 mg/kg without encountering dose limiting toxicity. More data are being generated as the trial progresses. As of Q2 2022, 5 dose cohorts had been completed, with 16 subjects dosed. Regarding safety, no grade 2 TRAEs or DLTs were reported. There is a dose-dependent increase of drug exposure and soluble 4-1BB in serum, suggestive of a favorable PK/PD profile and potentially a longer dosing interval with durable T cell activation. Preliminary clinical activity was also observed, with one confirmed PR of a metastatic esophageal adenocarcinoma patient who failed three lines of prior therapies, including PD-1 therapy, and three cases of stable disease (SD). The study is currently at 8 mg/kg without significant toxicities. Additional clinical sites in China joined this phase 1 international multi-center clinical trial, with the first patient dosed at 5 mg/kg in July 2022.
(2) Other clinical assets
Efineptakin alfa (Phase 2): The world's first and only long-acting recombinant human interleukin-7 ("rhIL-7") and is designed as a monotherapy for the treatment of cancer patients with lymphopenia because of its unique properties of increasing tumor-attacking T cells and as a combination with a PD-1 or PD-L1 antibody because of its potential synergism with PD-1/PD-L1 therapy. The Company has the rights for the development, manufacturing, and commercialization of efineptakin alfa in Greater China from Genexine.
Phase 2 Clinical Trial: the first patient was dosed in a phase 2 study of efineptakin alfa (also known as TJ107) in combination with pembrolizumab (Keytruda®) in patients with advanced solid tumors in January 2022. The study follows a "basket" trial design to include selected tumor types, including triple-negative breast cancer (TNBC) and squamous cell cancer of the head and neck (SCCHN).
Clinical data published by Genexine/NeoImmuneTech: (1) According to the data from the NIT-110 dose-escalation trial presented at ASCO 2021, the combination of efineptakin alfa and pembrolizumab is safe and well-tolerated in patients with advanced solid tumors. It significantly increased T cell numbers in both tumor specimens and the peripheral blood in patients treated with efineptakin alfa. (2) Data from phase 1b/2 Keynote-899 study, presented at ASCO 2022, showed that combination treatment of efineptakin alfa with pembrolizumab (Keytruda®) induced ORR of 15.7% (8/51) for phase 1b and 21.2% (7/33) for phase 2 study in patients with metastatic TNBC. Notably, the ORR in patients with PD-L1 CPS ≥ 10 was 60% (6/10) compared to 0% (0/15) in patients with PD-L1 CPS < 10, which warrants a further study of a combination regimen for patients with PD-L1 CPS ≥ 10.
Plonmarlimab (TJM2): a monoclonal antibody targeting human granulocyte-macrophage colony-stimulating factor (GM-CSF), a cytokine that plays a critical role in acute and chronic inflammation and cytokine release syndrome (CRS) associated with CAR-T and severe COVID-19.
CRS associated with severe COVID-19: In August 2021, the Company reported positive interim analysis from the phase 2/3 trial of plonmarlimab to treat patients with severe COVID-19. Plonmarlimab treatment resulted in a higher mechanical ventilation free (MVF) rate (83.6% vs. 76.7%), a lower mortality rate (4.9% vs. 13.3%) by day 30, higher recovery rates (68.9% vs. 56.7% at day 14 and 80.3% vs. 70.0% at day 30), as well as reduced time to recovery and hospitalization duration, as compared to placebo. Biomarker results were consistent with the observed clinical outcome and indicated patients treated with plonmarlimab had a reduction in plasma levels of pro-inflammatory cytokines and chemokines critically involved in CRS, including TARC, IP10, GCSF, IL10, IL6, MCP1, IL1RA, TNF-alpha but not interferon-gamma. A transient increase in Neutrophil to Lymphocyte Ratio (NLR) that is commonly associated with disease exacerbation was only observed in placebo. Plonmarlimab was well tolerated in all patients with no significant safety concerns. The clinical data obtained so far have validated the effect of plonmarlimab on CRS, paving the way to continue exploring the therapeutic indications where CRS is a critical element of the diseases. Additional clinical data are being analyzed to determine the next step development plan. The last patient out was in February 2022, and the final clinical study report is expected in the second half of 2022. Currently, no active clinical study is ongoing.
Enoblituzumab (TJ271): A humanized B7-H3 antibody as an immuno-oncology treatment agent. Enoblituzumab works through a dual mechanism to attack tumor cells, i.e., ADCC and immune activation. The Company licensed the rights for the development and commercialization of enoblituzumab in Greater China from MacroGenics, Inc. ("MacroGenics") under a collaboration agreement (as amended from time to time, the "MacroGenics Agreement"). The Company originally planned a phase 2 clinical trial of enoblituzumab in combination with pembrolizumab (Keytruda®) in patients with selected solid tumors, including NSCLC, bladder cancer and melanoma, in China, but has not enrolled any patient in the trial. In July 2022, due to an unexpected high incidence of fatal bleeding, MacroGenics terminated a phase 2 study of enoblituzumab as a combination therapy with PD-1 antibody or PD-1/LAG3 bispecific antibody in patients with head and neck cancers. The Company exercised its right to terminate the MacroGenics Agreement by serving a termination notice on August 29, 2022, which termination will take effect in 180 days after the date of the notice.
TJ210/MOR210: A novel monoclonal antibody targeting C5aR1 to treat solid tumors through the suppression of myeloid-derived suppressor cells and modulation of tumor microenvironment in favor of enhanced anti-tumor immune response as a novel mechanism of action. The in vitro and in vivo pre-clinical studies are ongoing to explore and validate the most effective combination partner(s) of TJ210 in addition to the PD-(L)1 antibody. I-Mab has the rights for the development, manufacturing and commercialization of TJ210 from MorphoSys in Greater China and South Korea, and co-develops the asset globally with MorphoSys. Phase 1 clinical trial in patients with advanced solid tumors: The phase 1 study is ongoing in the U.S., and patient recruitment for dose escalation will be completed in Q3 2022. In addition, the clinical study report of this phase 1 study is expected in Q4 2022. The phase 1 clinical trial in Chinese patients has been approved by China NMPA. Currently, no active clinical study is ongoing.
TJ-L14B/ABL503: A novel PD-L1-based bispecific antibody with the PD-L1 arm to target PD-L1+ tumor cells and block PD-L1/PD-1 interaction and the 4-1BB arm to conditionally activate T cells upon local tumor engagement. Phase 1 clinical trial in patients with advanced solid tumors: Dose escalation of TJ-L14B monotherapy is ongoing in the U.S. in patients with advanced or metastatic solid tumors. More data are being generated as the trial progresses.
(3) Preclinical assets and programs
The Company's R&D strategy to sustain and enrich the growing innovative immuno-oncology pipeline is to generate the next generation of innovative assets enabled by cutting-edge science and technology. The goal is to achieve four to five INDs or phase 1 clinical trials within the next three years by focusing on bi-specific antibodies and so-called "super antibodies" that are enabled by new technologies, such as mRNA technology, or formatted with novel modalities such as the masking technology. Innovative immune adjuvants to activate both innate and adaptive anti-tumor immunity are also being developed. The Company has made steady progress in advancing the development of these preclinical assets culminating in successful candidate selection of two bispecific molecules early this year and another 4 molecules expected to achieve candidate selection in the near future. Two leading molecules are described below.
TJ-L1IF is a novel PD-L1/IFN-α antibody-cytokine fusion protein, which is specifically designed for the treatment of PD-1/PD-L1 resistant tumors through the addition of a strong immune adjuvant (interferon-alpha, IFN-α) to potentially convert "cold" tumor to "hot" tumor on top of a PD-L1 antibody to achieve superior anti-tumor activity than PD-(L)1 antibody monotherapy. Novel drug molecules with such design is badly needed to address the current clinical challenges where a majority of cancer patients do not or poorly respond to PD-1/PDL-1 therapies.
IFN-α was the first cytokine approved for cancer treatment, but its clinical use is highly limited due to considerable systemic toxicity. TJ-L1IF is composed of a PD-L1 VHH nanobody linked with the Fc of human IgG with an engineered IFN-α2b fused at the C-terminus. It is a prodrug in that the IFN-α2b moiety is masked by a PEG group through a protease-cleavable linker rendering the drug inactive in the systemic circulation, thus strongly reducing systemic toxicity. Once the drug accumulates at the tumor site by PD-L1 antibody targeting, the linker is cleaved by proteases that are highly expressed in the tumor environment to achieve specific activation only at the tumor site. This unique property of TJ-L1IF has been confirmed in a series of in vitro and in vivo studies, in which TJ-L1IF demonstrated plasma stability, good safety in cynomolgus monkeys, and superior anti-tumor activity in the PD-1/PD-L1 resistant tumor models, than that achieved by PD-L1 antibody or IFN-α used either alone or in combination. After the first dose of treatment, the active format of the drug was quickly detected and accumulated in the tumor but not in the periphery, confirming the local delivery and conversion to an active form of IFN-α at the tumor site (Figure 2). TJ-L1IF was developed using Affinity's TMEA technology and is now under pre-clinical development.
TJ-C64B is the Company's third bispecific molecule being developed by leveraging a conditional 4-1BB platform which has the advantage of minimizing liver toxicity with an increased therapeutic window. It is specifically designed to simultaneously target Claudin 6 (CLDN6), uniquely expressed in specific cancer types, including ovarian cancer cells, and 4-1BB expressed by T cells to mediate the T cell killing of CLDN6+ tumor cells. CLDN6 is hardly detectable in normal adult tissues to ensure treatment specificity for ovarian cancers. The Company has achieved candidate selection and is actively progressing the pre-clinical development of the candidate molecule.
TJ-C64B activates T cells through 4-1BB stimulation only upon CLDN6 engagement, providing a localized immune activation in tumors with expected efficacy and reduced systemic toxicity. Owing to a competent Fc, TJ-C64B has an added advantage of specifically depleting CLDN6-expressing tumor cells and intra-tumor regulatory T cells highly expressing 4-1BB, which differentiates it from other 4-1BB bispecific antibodies under clinical development. As published in AACR 2022, pre-clinical data showed that TJ-C64B enhances CLDN6-dependent T cell activation upon the engagement of cancer cell lines with different CLDN6 expression levels. In a syngeneic mouse model, TJ-C64B treatment induces strong anti-tumor activity with complete tumor regression in all tested mice at the dose of 4.5 mg/kg and long-term protection from tumor re-challenge through the immunological memory response. Further, ex vivo analysis confirms localized immune activation by TJ-C64B as evident by the increased CD8+ T cells, specifically those residing in tumors (Figure 3). TJ-C64B is now under pre-clinical development and the Company plans to submit an IND in the U.S. around mid-2023.
Furthermore, the third wave of innovation initiatives launched in 2021 is making good progress, with multiple innovative molecules now in candidate selection and pre-clinical stage. Among these programs, immune adjuvants are an area of focus designed to prime and amplify both innate and adaptive immune responses. The immune adjuvant portfolio is comprised of cytokine fusions and immuno-cytokines. The cytokine fusions are engineered to extend half-life with Fc fusion and detune the binding affinity and potency of natural cytokine for better safety and efficacy with site-specific mutation. The immuno-cytokines are designed to conjugate engineered cytokines e.g. by masking technology to the tumor or immune cell targeting antibody to achieve pro-longed half-life, minimal systemic toxicity, and enhanced activity by selective tumor targeting.
This growing new portfolio of novel drug candidates represents the Company's strong commitment to sustaining the global competitiveness of its pipeline through continued innovation.
Business Development and Partnership Deals
(1) Research partnerships at I-Mab are aimed at building up the next wave of innovative assets that are enabled by cutting-edge scientific research and new transformative technologies. Firstly, I-Mab collaborated with selected academic groups to investigate the new regulatory pathways involved in the activation and suppression of multiple immune cells (e.g. myeloid cells) in the tumor microenvironment, leading to the identification of new targets that can complement PD-1/PD-L1 antibody or overcome the resistant mechanism of immune checkpoint inhibitor treatment. Secondly, the Company continues to actively seek out opportunities to partner with other biotech companies which are specialized in the development of unique technology platforms in the field of protein design, engineering, and delivery. In the first half of 2022, the Company achieved three early-stage collaborations to co-develop novel antibody products in new modalities by leveraging the proprietary technologies of each partner. Moreover, in terms of the collaboration of translational research, the Company reached an agreement with WuXi Diagnostics to develop a standardized CD73 in vitro diagnostic (IVD) kit to accompany the ongoing phase 2 and planned phase 3 clinical studies with uliledlimab.
(2) Commercial partnerships are designed as the key model for near-term commercialization of upcoming products, including felzartamab and eftansomatropin alfa. For eftansomatropin alfa, the Company has been working closely with its commercial partner, Jumpcan, to prepare for the product launch and the subsequent local manufacturing plan. The Company is working towards a similar commercial partnership for felzartamab with an aim to maximize the value of felzartamab without investing heavily to build up its own sales capability.
(3) Out-licensing deals continue to remain one of the Company's corporate priorities. The Company is currently pursuing potential global partnership deals of uliledlimab and TJ-CD4B.
Near-Term Product Commercialization
With the rapid progress in clinical development, the Company's most advanced assets, i.e. felzartamab, eftansomatropin alfa, and followed by lemzoparlimab, are expected to potentially achieve BLA in China in the next two to three years.
For felzartamab, there are about 20,000 newly diagnosed MM patients in China every year, and patients with refractory or relapsed MM who are eligible for 2L and 3L treatment are about 100,000[1]. Product advantages of felzartamab in lower injection reaction rate and shorter infusion time for out-patient use, together with its advantage as potentially the first locally manufactured CD38 antibody product, put it in a competitive position in China. The Company plans to partner with a leading domestic pharmaceutical company with a well-established sales force and proven commercialization capabilities to market felzartamab in China.
For eftansomatropin alfa, approximately 3.4 million children suffer from growth hormone deficiency (PGHD) in China[2]. Eftansomatropin alfa is the only pure protein-based long-acting GH with no pegylation or chemical linkers, which potentially offers a favorable safety profile. With its unique product advantages, among the few long-acting growth hormone players, and Jumpcan's commercial leadership in pediatric therapeutic area in China, eftansomatropin alfa has the potential to become a major player in China growth hormone market.
Updates Regarding Holding Foreign Companies Accountable Act (HFCAA)
During the last six months, the Company has completed the process of evaluating and selecting a U.S. based public accounting firm that is subject to inspection by the Public Company Accounting Oversight Board (the "PCAOB") for the preparation of its audit reports commencing from the fiscal year of 2022. On August 26, 2022, the PCAOB signed a Statement of Protocol with the China Securities Regulatory Commission and the Ministry of Finance of the People's Republic of China relating to inspections and investigations by the PCAOB of audit firms based in mainland China and Hong Kong. I-Mab has noted this positive progress and will closely follow the development under the Statement of Protocol, which is expected to be executed in steps and may ultimately mitigate delisting risks under the HFCAA. In parallel, the Company will continue working on and is prepared to effect, as a contingency plan, the change of its auditor to the foregoing US based public accounting firm in the event that the progress of Statement of Protocol does not meet the deadline for the Company to mitigate the delisting risk in the 2022 financial report.
Environmental, Social and Governance (ESG) Update
In May 2022, the Company published its 2021 ESG report to summarize highlights and progress of its recent ESG practices.
Currently, females account for two-thirds of the Company's total workforce, and more than 30% of the Company's Board of Directors. The Company has previously established the Women's Leadership Council in 2020, a global program to promote gender equality, and nurture women employees through their personal and career growth. I-Mab fully understands the power of collective action by both women and men, and is dedicated to creating a diversified, equitable and inclusive workplace for all employees.
In response to urgent situations caused by Covid-19 in 2022, I-Mab immediately set up an emergency task force to deliver food supplies to employees in areas experiencing prolonged home quarantine, including daily necessities and anti-pandemic gift packs to support employees and their families affected by the pandemic in Shanghai.
In the future, the Company intends to continue to strengthen its efforts toward sustainable development and continue to strive to make consequential contributions to society.
Corporate Development
The Company further strengthened its corporate governance and senior management team:
- I-Mab appointed Mr. Richard Yeh as Chief Operating Officer and Dr. John Hayslip as Chief Medical Officer on April 28, 2022. Mr. Yeh is based in Shanghai, China. He was also appointed to join I-Mab's Board. Mr. Yeh leads I-Mab's investor relations, global alliance management, and major facilities across the world. Dr. Hayslip is based in the United States. As I-Mab's Chief Medical Officer, Dr. Hayslip leads the Company's pipeline development, addressing the key challenges in clinical sciences to increase the probability of success and the speed of clinical development for I-Mab's innovative assets.
- Appointment of Dr. Lin Li, Ph.D. nominated by Hony Capital, as a member of the Company's board of directors and a member of the Audit Committee, will become effective on August 31, 2022, replacing Ms. Xi Liu of Hony Capital, who resigned on the same day. Dr. Li served as the Company's director from July 2018 to April 2020. Dr. Li has served as a partner since March 2021 and an investment director from December 2016 to March 2021 at Hony Capital. Dr. Li worked as an associate at Snow Lake Capital (HK) Limited from November 2014 to November 2016. Dr. Li served as a senior investment manager in the cross-border investment group at Hony Capital from April 2012 to October 2014. Prior to that, he worked as an associate in the corporate finance department of Goldman Sachs Gao Hua Securities Company Limited in Beijing from July 2010 to April 2012. Dr. Li received his bachelor's degree in biology from Peking University in July 2000, Ph.D. in biology from Boston University in 2006, and a Master's degree in business administration from Harvard Business School in 2010.
- Dr. Zheru Zhang resigned from his position as the President of the Company and a director of the board effective from August 31, 2022 and was appointed as the President for I-Mab Hangzhou, an investee of the Company with a comprehensive biologics manufacturing facility in Hangzhou, China. Mr. Jielun Zhu resigned from his position as the Chief Strategy Officer of the Company on July 31, 2022 to pursue other interests.
The Company and its senior management demonstrated full confidence in the Company's fundamentals by implementing share purchase plans:
- The Company announced on August 23, 2022, that it plans to implement share repurchases pursuant to the share repurchase program previously authorized by its board of directors. On the same day, the Company was informed by Dr. Jingwu Zang, Chairman and Acting Chief Executive Officer of the Company, and other members of senior management of their intention to use personal funds to purchase the Company's American Depositary Shares (the "ADSs") on the open market. Under the share purchase plans, the Company and the senior management may purchase up to US$40 million of ADSs in aggregate. The timing and dollar amount of share repurchase and share purchase transactions will be subject to the applicable U.S. Securities and Exchange Commission rule requirements. The Company's board of directors will review the implementation of share repurchases periodically and may authorize adjustment of its terms and size.
- In January 2022, the Company's senior management executed a share purchase plan and purchased over 78,000 ADSs in aggregate on the open market.
The Company invested in I-Mab Hangzhou in 2020 as a part of the Company's overall strategic plan. On July 16, 2022, I-Mab Hangzhou entered into a definitive financing agreement with a group of domestic investors in China to raise approximately US$46 million in RMB equivalent. To date, the closing of the financing is in progress. Upon closing, the Company, through its wholly-owned subsidiary, remains the largest shareholder. Upon the occurrence of certain triggering events as specified in the shareholders agreement among I-Mab Hangzhou, I-Mab (through its wholly-owned subsidiary) and other domestic investors, including but not limited to I-Mab Hangzhou's failure to accomplish certain public offering condition, I-Mab may be obligated to repurchase the equity held by other domestic investors in cash or in I-Mab's stocks within certain time period.
The Company was ranked among the top companies in six different categories by the leading global financial publication Institutional Investor, based on its 2022 All-Asia Executive Team survey. The awards recognize I-Mab's continued strong leadership, corporate governance, ESG strategy, and investor relations capabilities. I-Mab was recognized in the "Honored Companies," "Best CEO," "Best CFO," "Best IR Professional," "Best IR Program," and "Best ESG" categories.
The Company recently hosted an R&D Day, providing a comprehensive update on its business strategy, clinical development of its key innovative assets as well as its next-generation preclinical programs, and the Company shared key repositioning strategies.
First-Half 2022 Financial Results
Cash Position
As of June 30, 2022, the Company had cash, cash equivalents, and short-term investments of RMB3.9 billion (US$586 million), compared with RMB4.3 billion as of December 31, 2021. I-Mab's strong cash balance is estimated to provide the Company with adequate funding to support its key business operations for over three years.
Net Revenues
Total net revenues for the six months ended June 30, 2022, were RMB51.9 million (US$7.7 million), compared with RMB17.8 million for the comparable period in 2021. Revenues generated for the six months ended June 30, 2022, consisted of revenues recognized in connection with the strategic collaboration with AbbVie and revenues generated from the supply of investigational products under the strategic collaboration agreement; whereby the revenues generated for the comparable period of 2021 solely consisted of the revenues recognized in connection with the strategic collaboration with AbbVie.
Research & Development Expenses
Research and development expenses for the six months ended June 30, 2022, were RMB452.6 million (US$67.6 million), compared with RMB593.0 million for the comparable period in 2021. The decrease was primarily due to the reduced demand for investigational products as the Company procured sufficient stock in 2021 and lower share-based compensation expenses. Share-based compensation expense was RMB77.6 million (US$11.6 million) for the six months ended June 30, 2022, compared with RMB112.7 million for the comparable period in 2021.
Administrative Expenses
Administrative expenses for the six months ended June 30, 2022, were RMB392.5 million (US$58.6 million), compared with RMB451.5 million for the comparable period in 2021. The decrease was primarily due to lower share-based compensation expenses in relation to management, partially offset by higher expenses for professional services. Share-based compensation expense was RMB119.3 million (US$17.8 million) for the six months ended June 30, 2022, compared with RMB222.0 million for the comparable period in 2021.
Other Income (Expenses), net
Net other expenses for the six months ended June 30, 2022, was RMB51.9 million (US$7.8 million), compared with net other income of RMB51.9 million for the comparable period in 2021. The change was primarily caused by unrealized exchange losses due to the significant fluctuation in the exchange rate of RMB against the USD in 2022.
Equity in loss of affiliates
Equity in loss of affiliates for the six months ended June 30, 2022, was RMB181.0 million (US$27.0 million), compared with RMB114.2 million for the comparable period in 2021. The change was primarily due to the increased expenditure of the Company's affiliate, I-Mab Hangzhou.
Net Loss
Net loss for the six months ended June 30, 2022, was RMB1,046.9 million (US$156.3 million), compared with RMB1,076.5 million for the comparable period in 2021. Net loss per share attributable to ordinary shareholders as of June 30, 2022, was RMB5.54 (US$0.83), compared with RMB6.38 for the comparable period in 2021. Net loss per ADS attributable to ordinary shareholders as of June 30, 2022, was RMB12.74 (US$1.90), compared with RMB14.67 for the comparable period in 2021.
Non-GAAP Net Loss
Non-GAAP adjusted net loss, which excludes share-based compensation expenses, for the six months ended June 30, 2022, was RMB848.0 million (US$126.6 million), compared with RMB729.4 million for the comparable period in 2021. Non-GAAP adjusted net loss per share attributable to ordinary shareholders for the six months ended June 30, 2022, was RMB4.49 (US$0.67), compared with RMB4.32 for the comparable period in 2021. Non-GAAP adjusted net loss per ADS attributable to ordinary shareholders for the six months ended June 30, 2022, was RMB10.33 (US$1.54), compared with RMB9.94 for the comparable period in 2021.
Subsequent Event
As a subsequent event, on August 15, 2022, the Company and AbbVie entered into an amendment to the original licensing and collaboration agreement. As a part of the amendment, AbbVie has discontinued the global Phase 1b study of lemzoparlimab combination therapy with AZA and venetoclax, in patients with MDS and AML, which in turn would lead to the noncompletion of a key milestone in the original licensing and collaboration agreement. As a result, this event is expected to result in a loss of no more than US$50.0 million for the Company in the second half of 2022.
Conference Call and Webcast Information
The Company's management will host conference calls to discuss the results and updates, and a Mandarin session conference call will be held at 7:00 a.m. ET, and an English session conference call will be held at 8:15 a.m. ET. The conference calls can be accessed by the following Zoom links:
Mandarin Session
English Session
About I-Mab
I-Mab (Nasdaq: IMAB) is a dynamic, global biotech company exclusively focused on discovery, development and soon, commercialization of novel or highly differentiated biologics in the therapeutic areas of immuno-oncology and autoimmune diseases. The Company's mission is to bring transformational medicines to patients around the world through innovation. I-Mab's innovative pipeline of more than 10 clinical and pre-clinical stage drug candidates is driven by the Company's Fast-to-Proof-of-Concept and Fast-to-Market development strategies through internal R&D and global partnerships and commercial partnerships. I-Mab has established its global footprint in Shanghai, Beijing, Hangzhou, Guangzhou, Lishui and Hong Kong in China, and Maryland and San Diego in the United States. For more information, please visit https://www.i-mabbiopharma.com and follow I-Mab on LinkedIn, Twitter and WeChat.
I-Mab Forward Looking Statements
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," "confident" and similar statements. I-Mab may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), 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. Statements that are not historical facts, including statements about I-Mab's beliefs and expectations, are forward-looking statements. Forward-looking statements 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: I-Mab's ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may not support further development or NDA/BLA approval; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of I-Mab's drug candidates; I-Mab's ability to achieve commercial success for its drug candidates, if approved; I-Mab's ability to obtain and maintain protection of intellectual property for its technology and drugs; I-Mab's reliance on third parties to conduct drug development, manufacturing and other services; I-Mab's limited operating history and I-Mab's ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates; and the impact of the COVID-19 pandemic on the Company's clinical developments, commercial and other operations, as well as those risks more fully discussed in the "Risk Factors" section in I-Mab's most recent annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in I-Mab's subsequent filings with the SEC. All forward-looking statements are based on information currently available to I-Mab, and I-Mab undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Use of Non-GAAP Financial Measures
To supplement its consolidated financial statements which are presented in accordance with U.S. GAAP, the Company uses adjusted net income (loss) as a non-GAAP financial measure. Adjusted net income (loss) represents net income (loss) excluding share-based compensation expenses. The Company's management believes that adjusted net income (loss) facilitates better understanding of operating results and provide management with a better capability to plan and forecast future periods. For more information on the non-GAAP financial measures, please see the table captioned "Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this press release.
Non-GAAP information is not prepared in accordance with GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using adjusted net income (loss) is that adjusted net income (loss) excludes share-based compensation expense that has been and may continue to be incurred in the future.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars are made at a rate of RMB6.6981 to US$1.00, the rate in effect as of June 30, 2022, published by the Federal Reserve Board.
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SOURCE I-Mab | https://www.wibw.com/prnewswire/2022/08/30/i-mab-provides-business-corporate-updates-reports-financial-results-six-months-ended-june-30-2022/ | 2022-08-30T11:19:24Z |
LONDON, July 11, 2022 /PRNewswire/ -- New research from Omdia's Mobile PC Market Tracker has found that, after 15.5% year on year (Y/Y) decline in 2022, notebook PC shipments will return to positive growth of 1.0% in 2023 if the Russia-Ukraine war can be successfully concluded by end of 2022.
Jeff Lin, Senior Principal Analyst for Omdia's Notebook PC / Tablet practice said: "Our analysis shows the decline in 2022 has been impacted by the rapidly fluctuating value of the US dollar which affects the predictability of transactions in supply chains and end-consumer side; the Russia-Ukraine war which has affected future European government and consumers spending and the uncertain Chinese government's epidemic policy that has affected the stability of electronic components and products supply chain."
Virtual Reality/Mixed Reality (VR/MR) is set to become the driving force for future notebook growth particularly in the electric vehicle (EV) market. As the life cycle of EV development is reduced, the EV developers' market will increase. The continuous improvement of semiconductor manufacturing processes in high-end notebook PCs will see them gradually replacing desktop PCs and EV developers directly using laptops with VR/MR. If the trend is as predicted, Omdia expects that Apple will be the biggest winner in this market due to its solid content creator base.
After the US Federal Reserve's efforts to reduce the balance sheet in 2022, the new $1,2 trillion Bipartisan Infrastructure Investment and Jobs Act is intended to help stimulate the US economy alongside its ambitions to become a green energy country. However, the war in Europe and China's zero-COVID policy has impacted this ambition by causing delays in the global supply chain of electronic components and products. The uncertainty of geopolitical risks has caused investment funds to withdraw from the Asia Pacific region, further slowing the supply chain moving out from China to Southeast Asia.
Lin concludes: "The industry must take note of these critical market issues as the slowdown in the US' green energy transformation plan could negatively impact demand for EVs and subsequent future growth momentum for notebook PCs and notebook PC with VR/MR by EV developers."
Omdia is a leading research and advisory group focused on the technology industry. With clients operating in over 120 countries, Omdia provides market-critical data, analysis, advice, and custom consulting.
Contact:
Fasiha Khan / T: +44 7503 666806 / E: fasiha.khan@omdia.com
Visit Omdia
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SOURCE Omdia | https://www.kxii.com/prnewswire/2022/07/11/omdia-global-notebook-pc-shipments-will-resume-growth-2023-if-russia-ukraine-war-concludes-2022/ | 2022-07-11T04:40:59Z |
Wylie East-Sherman Baseball Highlights
Published: Apr. 26, 2022 at 10:56 PM CDT|Updated: 5 hours ago
Wylie East-Sherman Baseball Highlights
Copyright 2022 KXII. All rights reserved.
Wylie East-Sherman Baseball Highlights
Copyright 2022 KXII. All rights reserved. | https://www.kxii.com/2022/04/27/wylie-east-sherman-baseball-highlights/ | 2022-04-27T09:33:19Z |
PITTSBURGH, Aug. 15, 2022 /PRNewswire/ -- "I thought there should be a way to visually communicate text or graphic messages from a vehicle," said an inventor, from Rapid City, S.D., "so I invented the README2. My design also enables the message to be easily changed as needed."
The patent-pending invention provides an easy way to display text or images on the window of a vehicle, business, etc. In doing so, it offers an alternative to traditional bumper stickers. As a result, it increases communication and it eliminates residue damage. Additionally, the invention features a portable design that is easy to apply and use so it is ideal for vehicle owners, households, businesses, etc.
The original design was submitted to the National sales office of InventHelp. It is currently available for licensing or sale to manufacturers or marketers. For more information, write Dept. 20-CTK-2753, InventHelp, 217 Ninth Street, Pittsburgh, PA 15222, or call (412) 288-1300 ext. 1368. Learn more about InventHelp's Invention Submission Services at http://www.InventHelp.com.
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SOURCE InventHelp | https://www.kxii.com/prnewswire/2022/08/15/inventhelp-inventor-develops-communication-display-windows-ctk-2753/ | 2022-08-15T16:46:42Z |
Company achieves 37% reduction of fugitive methane emissions in 2021
LOS ANGELES, June 16, 2022 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) has submitted its annual fugitive emissions report to the California Public Utilities Commission (CPUC). The report shows that SoCalGas has significantly exceeded the state's 2025 goal for reducing fugitive methane emissions. SoCalGas reported that in 2021 it reduced fugitive methane emissions by 37% – passing the state's goal of a 20% reduction by 2025 and nearing the state's goal of a 40% reduction by 2030.
The company's success comes from significant innovation in new detection technologies. SoCalGas was the first utility in the nation to implement aerial methane mapping using helicopter-mounted LiDAR technology to detect leaks. The company also has begun using drones – including first-of-its-kind hydrogen-powered drone technology – to map and detect methane.
"It is a testament to our dedicated workforce that we have not only exceeded 2025 reduction goals, but also are quickly approaching 2030 goals as we continue to build the cleanest, safest and most innovative energy company in America," said Jimmie Cho, SoCalGas Chief Operating Officer.
Percentage calculations are based upon a 2015 emissions baseline. Utilities' progress toward state goals are tracked and reported via CPUC-mandated annual reports.
SoCalGas has made meaningful strides to reduce methane emissions since 2015, in addition to investments in leak detection technology.
Accomplishments include:
- Accelerated leak repairs relating to our aerial methane mapping program reduced methane emissions equivalent to avoiding 1,031 metric tons of carbon dioxide equivalent emitted and incrementally increased the ability of detecting and repairing leaks faster
- SoCalGas accelerated its leak survey cycles from every three years to every year for certain types of pipe, leading to more prompt leak repairs further reducing methane emissions
- A 94% reduction in gas venting during maintenance or repairs when compared to 2015, which is equivalent to avoiding 39,432 metric tons of carbon dioxide equivalent emitted
- A 92% reduction in emissions from SoCalGas storage facilities since 2015 due to upgrades in compressor and venting equipment
Last year, SoCalGas announced its aspiration to achieve net zero greenhouse gas emissions in its operations and the energy it delivers by 2045 and earlier this year released its ASPIRE 2045 Sustainability Strategy to help reach that goal.
For more information about SoCalGas' sustainability efforts, please visit https://www.socalgas.com/sustainability.
About SoCalGas
Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment.
SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy services holding company based in San Diego.
For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook.
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SOURCE Southern California Gas Company | https://www.kxii.com/prnewswire/2022/06/16/socalgas-surpasses-californias-2025-methane-emissions-reduction-goals-nears-2030-goal/ | 2022-06-16T21:13:47Z |
- Black Knight's Optimal Blue Mortgage Market Indices tracked a rise in conforming 30-year rates entering May, which cleared 5.5% before pulling back to finish the month at 5.34%, down 7 basis points from April
- Despite the leveling off in rates, overall lock volumes fell another 4.8% from April, with monthly declines seen across both rate/term (-23.6%) and cash-out (-11.9%) refinances
- While purchase volumes fell 2.3% from April and were flat year-over-year, looking at lock counts – to exclude the impact of home price appreciation on volume – shows purchases down 8.5% from last May
- While struggling under high home prices, lack of inventory and a higher rate environment, purchases now make up the largest share of rate locks (82%) since Optimal Blue began tracking the data in 2018
- Government-backed FHA and VA locks captured additional market share from conforming products, a trend also likely reflected in the decline seen in the average loan amount
- Borrower credit scores fell in May, led by another steep drop in cash-out refinance credit scores, which are now below 700 on average, down 20 points in the last three months and 33 points year-over-year
JACKSONVILLE, Fla., June 13, 2022 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced the release of its latest Originations Market Monitor report, looking at mortgage origination data through May month-end. Leveraging daily rate lock data from Black Knight's Optimal Blue PPE – mortgage lending's most widely used pricing engine – the Originations Market Monitor provides the industry's earliest and most comprehensive view of origination activity.
"At the start of May, it seemed mortgage interest rates would continue their upward climb and, indeed, rates did rise above 5.5% before pulling back some 20 basis points," said Scott Happ, president of Optimal Blue, a division of Black Knight. "Ultimately, our OBMMI daily interest rate tracker showed 30-year conforming offerings finishing the month at 5.34%, down 7 basis points from last month. Still, despite this plateau in rates, rate lock volume continued to slide in May, with declines seen across all loan purposes."
The month's pipeline data showed overall rate locks down 4.8% month-over-month, with rate/term refinance lending activity down another 23.6% from April to mark an 89.9% year-over-year decline. Cash-out refinance locks also fell (-11.9%) and are now down 42.2% since last year. The combined decline in refinance locks pushed the refi share of the market down to just 18%, the lowest point on record since at least January 2018, when Optimal Blue began tracking the metric. Purchase lock volumes were down 2.3% from April and were flat year-over-year. However, when looking at lock counts to exclude the impact of home price appreciation on volumes, purchase locks were down 8.5% year-over-year in May. Government loan products gained market share as FHA and VA lock activity increased at the expense of agency volumes, a trend also likely reflected in the decline seen in the average loan amount from $362,000 to $359,000. Average credit scores also fell in May, led by another steep drop in cash-out refinance scores, which are now below 700 on average, down 20 points in the last three months and 33 points year-over-year.
"The month's data shows a market struggling under the weight of significantly higher rates than Americans have enjoyed for the better part of the last three years," Happ continued. "We've seen rate/term refinance activity essentially evaporate and cash-out activity is now suffering as well. While there is volume pressure across the board due to rising rates, purchase volumes are holding up the best and are now driving 82% of all origination activity. Lenders are now more reliant on the purchase market for origination volumes than they have been in 20 years. Meanwhile, the trifecta of low inventory, high prices and climbing rates that has created the least affordable housing market in 16 years continues to create headwinds for precisely that segment."
Each month's Originations Market Monitor provides high-level origination metrics for the U.S. and the top 20 metropolitan statistical areas by share of total origination volume. Much more detail on May's origination activity can be found in the full Black Knight Originations Market Monitor report, located here.
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serving their customers. For more information on Black Knight, please visit www.blackknightinc.com/.
For more information:
Michelle Kersch
904.854.5043
michelle.kersch@bkfs.com
Mitch Cohen
704.890.8158
mitch.cohen@bkfs.com
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SOURCE Black Knight, Inc. | https://www.wibw.com/prnewswire/2022/06/13/black-knight-originations-market-monitor-despite-plateau-rates-mortgage-production-fell-again-may-with-rate-locks-down-across-all-loan-purposes/ | 2022-06-13T14:13:32Z |
DUBUQUE, Iowa, April 10, 2022 /PRNewswire/ -- Kendall Hunt is excited to announce that the Illustrative Mathematics K–5 Math curriculum has met all three of the requirements from EdReports. This program fulfills expectations for Alignment to the CCSSM, Focus and Coherence, and Rigor and Practice-Content Connections.
IM K–5 Math is exemplary of Kendall Hunt's commitment to providing innovative programs for educators to use in their class. Illustrative Mathematics K–5 Math provides students and educators with a unique, engaging, and inclusive approach to mathematics, providing all students with the skills, understanding, and practice that will stay with them for life. When developing IM K–5 Math, the elementary writing team at Illustrative Mathematics was committed to providing every student with opportunities to see themselves in the curriculum, regardless of race, ethnicity, language, gender, ability, and socioeconomic status.
"The entire Illustrative Mathematics K-12 Math curriculum is an exceptional and new-aged way to teach students math. It's entirely different from anything we've worked with before," says Charley Cook, Vice President of Kendall Hunt's K-12 Division.
"We are honored that Kendall Hunt's IM Certified version of our grades K–5 curriculum is green-lighted by EdReports. This reinforces that we are creating a high-quality and rigorous mathematics curriculum for all students and teachers," says Dr. William G. McCallum, Illustrative Mathematics' CEO and Cofounder.
By utilizing this standards-aligned curriculum, students will receive learning support in their early years. Teachers can use IM K–5 Math curriculum to provide students with opportunities to connect math to the real world and to foster conceptual understanding of the mathematical material. Recently, the teachings of IM have been further enhanced inside a robust, digital platform; Kiddom. This paid platform allows for students, educators, and admins the ability to easily visualize progress, track pacing, and customize the way the Kendall Hunt curriculum is presented in an easily modifiable format.
For more information about Kendall Hunt, call 800-542-6657 or go to www.k12.kendallhunt.com
About Kendall Hunt Publishing:
Kendall Hunt has a 75-year history of providing innovative educational solutions. As the publisher of hands-on science, mathematics, and gifted curricula for grades K-12, we are also the leading partner in open educational resource offerings, including Illustrative Mathematics and OpenSciEd. In conjunction with offering a variety of stand-alone K-12 products, ConstructEd, a division of Kendall Hunt, allows both educational institutions and teachers to create made-to-order, customized textbooks or digital products using existing products or creating their own. For more information, visit www.k12.kendallhunt.com.
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SOURCE Kendall Hunt Publishing | https://www.wibw.com/prnewswire/2022/04/10/illustrative-mathematics-k-5-math-curriculum-gets-stamp-approval-by-edreports/ | 2022-04-10T12:42:42Z |
BOARDMAN, Ohio (WKBN) — A suspect not only bought cigarettes and got cash with play money, but he also won the lottery with his ill-gotten gains.
Officers were called to a Giant Eagle grocery store in Boardman, Ohio, on Tuesday evening on reports of fraud.
Employees told police that a man known to the store used $100 bills of play money to buy cigarettes, get change, and then cash out a $100 fake bill for five $20s.
He then used some of the real money to buy lottery tickets at a machine in the store and won $100.
The fake bills were discovered after an employee was closing the cash register.
Police noted the fake bills were marked “The United States Play Money.”
Police were shown a still image of the suspect, who was identified by employees. The suspect’s name was not immediately released.
The investigation is ongoing. | https://cw33.com/news/nexstar-media-wire/suspect-uses-play-money-wins-lottery-at-ohio-store/ | 2022-05-19T20:18:32Z |
Event focuses on real-world use cases for new technologies, including quantum, poised to improve health and the life sciences
TOKYO, July 4, 2022 /PRNewswire/ -- QunaSys, a global leader in the development of innovative quantum algorithms in chemistry and a Pistoia Alliance member company, will co-host the Pistoia Alliance Global Knowledge-Sharing event held on July 7, which will bring together scientific, business and government leaders from Japan and around the world to improve innovation in health and the life sciences.
The Pistoia Alliance is a global, not-for-profit alliance that works to lower barriers to innovation in life science and healthcare R&D. The Alliance has organized these webinars to provide specific examples of where its pre-competitive collaboration model of shared-risk and shared-reward can bring value and support to improve life sciences and health through science and innovation.
Quantum computing is one of the technologies that is positioned to make dramatic improvements in the fields of health and the life sciences, particularly in the field of pharma.
QunaSys CEO and co-founder Tennin Yan will discuss emerging use cases and how quantum is poised to impact the future of pharma R&D. He will participate on the future of pharma R&D panel discussion, which will be facilitated by John Bolger, CEO of Matador, a Pistoia Alliance member company, along with industry experts from Daiichi Sankyo, Preferred Networks and Mitsubishi Tanabe Pharma Corporation and the Pistoia Alliance.
Hiroki Oka, of QunaSys, will join a panel discussion on the future of pharma R&D / pre-competitive open innovation and the role of emerging science and technology.
The event will also feature keynote sessions from prominent scientists, government officials and business leaders.
The keynote sessions are:
- Government Perspective on Emerging Science & Technology in Japan Life Sciences - Kenkichi Sakoda, Planning Director for Integrated Strategy, Secretariat of S&T and Innovation Policy, Cabinet Office / Director, Office for Quantum Science and Technology
- Emerging Science & Technology in Japan Life Sciences, a Japan-based Pistoia Alliance member company perspective - Hisafumi Yamada, Executive Vice President, Research and Translational Research, Chugai
Register now for free at
https://www.pistoiaalliance.org/eventdetails/global-knowledge-sharing-japan-july-2022/
About QunaSys Inc.
QunaSys is the world's leading developer of innovative algorithms in chemistry focused on accelerating the development of quantum technology applicability. QunaSys enables maximization of the power of quantum computing through its advanced joint research that addresses cutting-edge technologies providing Qamuy™, the most powerful quantum chemical calculation cloud software; fostering development of collaboration through QPARC industry consortium; and working with research institutions from academia and government. QunaSys software runs on multiple technology platforms with applicability in all chemical related industries to boost quantum computing adoption.
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SOURCE QunaSys Inc. | https://www.kxii.com/prnewswire/2022/07/05/qunasys-co-hosts-industry-government-leaders-pistoia-alliance-global-knowledge-sharing-virtual-event/ | 2022-07-05T02:23:30Z |
Kansas ranks 5th for best unemployment recovery in recent study
WalletHub ranks Kansas 5th in best unemployment recovery in May 2022 unemployment report
TOPEKA, Kan. (WIBW) - A recent WalletHub study found that Kansas ranks 5th among the 50 states and the District of Columbia in the May unemployment rankings with an unemployment rate of just 2.3%.
The 4 states ahead of Kansas are (1) Minnesota, (2) New Hampshire, (3) Nebraska and (4) Indiana for unemployment recovery, although Kansas overall has the 6th lowest unemployment rate.
To determine which states recovered best in unemployment between April 2022 and May 2022, WalletHub used the unemployment rate between May 2022 and May 2019 and the unemployment rate from April 2022 to May 2022 and then used the average to figure their rankings.
When compared to 2019, the study found that the May 2022 unemployment rate has decreased by 23% from 46,082 unemployed people to 35,359 unemployed people this May. When compared to May 2021, the study found an unemployment decrease of 31% from over 51,000 people in May 2021 to 35,359 in May 2022.
Kansas Department of Labor Secretary Amber Shultz said in a separate statement that although there was little change, “a small increase in employment estimates from the household survey caused the unemployment rate decrease to 2.3% in May.”
Copyright 2022 WIBW. All rights reserved. | https://www.wibw.com/2022/06/17/kansas-ranks-5th-best-unemployment-recovery-recent-study/ | 2022-06-17T18:33:19Z |
TEHRAN, Iran (AP) — Iranian state television said Sunday that Tehran had launched a solid-fueled rocket into space, drawing a rebuke from Washington ahead of the expected resumption of stalled talks over Tehran’s tattered nuclear deal with world powers.
It’s unclear when or where the rocket was launched, but the announcement came after satellite photos showed preparations at Imam Khomeini Spaceport in Iran’s rural Semnan province, the site of Iran’s frequent failed attempts to put a satellite into orbit.
State-run media aired dramatic footage of the blastoff against the backdrop of heightened tensions over Tehran’s nuclear program, which is racing ahead under decreasing international oversight.
Iran had previously acknowledged that it planned more tests for the satellite-carrying rocket, which it first launched in February of last year.
Ahmad Hosseini, spokesman for Iran’s Defense Ministry, said Zuljanah, a 25.5 meter-long rocket, was capable of carrying a satellite of 220 kilograms (485 pounds) that would ultimately gather data in low-earth orbit and promote Iran’s space industry. Zuljanah is named for the horse of Imam Hussein, the grandson of the Prophet Muhammad.
The White House said it was aware of Iran’s announcement and criticized the move as “unhelpful and destabilizing.”
The launch comes just a day after the European Union’s foreign policy chief, Josep Borrell, traveled to Tehran in a push to resuscitate negotiations over Iran’s nuclear program that have stalemated for months. A few significant sticking points remain, including Tehran’s demand that Washington lift terrorism sanctions on its paramilitary Revolutionary Guard.
Borrell said on Saturday that talks over the nuclear deal would resume in an unnamed Persian Gulf country in the coming days, with Iranian media reporting that Qatar would likely host the negotiations.
Former President Donald Trump withdrew the U.S. from the nuclear deal in 2018 and reimposed crushing sanctions on Iran. Tehran responded by greatly ramping up its nuclear work and now enriches uranium closer than ever to weapons-grade levels.
In a further escalation that limits the international community’s view into its nuclear program, Iran removed over two dozen International Atomic Energy Agency cameras from its nuclear sites this month. The agency’s director called the move a “fatal blow” to the tattered nuclear deal.
Tehran’s rocket launches have raised alarm in Washington amid the unraveling of the nuclear deal. The U.S. warns the launches defy a United Nations Security Council resolution calling on Iran to steer clear of any activity related to ballistic missiles capable of delivering nuclear weapons.
The White House on Sunday said it was committed to using sanctions and other measures to prevent further advances in Iran’s ballistic missile program.
The U.S. intelligence community’s 2022 threat assessment, published in March, claims such a satellite launch vehicle “shortens the timeline” to an intercontinental ballistic missile for Iran as it uses “similar technologies.”
Iran, which long has said it does not seek nuclear weapons, maintains its satellite launches and rocket tests do not have a military component.
Even as Iran’s government has sharpened its focus on space, sending several short-lived satellites into orbit and in 2013 launching a monkey into space, the program has seen recent troubles. There have been five failed launches in a row for the Simorgh program, a type of satellite-carrying rocket. A fire at the Imam Khomeini Spaceport in February 2019 also killed three researchers.
The launch pad used in the preparations for the launch of the Zuljanah rocket remains scarred from an explosion in August 2019 that even drew the attention of then-President Trump. He later tweeted what appeared to be a classified surveillance image of the launch failure. Satellite images from February suggested a failed Zuljanah launch earlier this year, though Iran did not acknowledge it.
Meanwhile, Iran’s paramilitary Revolutionary Guard in April 2020 revealed its own secret space program by successfully launching a satellite into orbit. The Guard operates its own military infrastructure parallel to Iran’s regular armed forces.
___
DeBre reported from Dubai, United Arab Emirates. Associated Press writer Tom Strong in Washington contributed to this report. | https://cw33.com/news/international/ap-international/state-tv-iran-launches-rocket-as-nuclear-talks-to-resume/ | 2022-06-26T19:01:46Z |
WILMINGTON, Del., May 1, 2022 /PRNewswire/ -- Today, Ugreen is announcing the global release of the HiTune T3 true wireless ANC earbuds. Before their international launch, the T3 earbuds were trialed in the UK market where they were received positive reviews.
Same Sound, New Color
During the international release, Ugreen will be releasing a second color option for the T3 earbuds. Previously, the earbuds were only available in white, but they will now also be available in black. The black version of the T3 earbuds will maintain the same sleek form factor and provide the same high-quality audio.
T3 Key Features
The T3 earbuds feature 10mm PU+Wool composite dynamic drivers, which offer punchy and dynamic bass without sacrificing mid and high tones.
In addition, they offer feed-forward ANC which can reduce ambient noise by 25 dB. This is a proprietary system developed by the HiTune Acoustics Lab. The ANC doesn't produce inner ear pressure, so listeners can spend hours comfortably enjoying their music.
The T3 earbuds also feature the Real Voice 4.0 environmental noise cancellation system, which effectively filters out 90% of external noise.
Availability
HiTune T3 earbuds were launched in February on Amazon UK with a recommended retail price of £35.99. Today the T3 earbuds will launch on Amazon US, and several European Amazon stores at the price of $35.99. Additionally, they will be available on Ugreen's Official Website around May 7th.
About HiTune
HiTune is a Ugreen sub-brand that strives to provide high-quality audio devices that the average person can afford. Good audio devices are often prohibitively expensive, but it doesn't have to be this way.
About Ugreen
Ugreen is a global leader in consumer electronics. Ugreen is dedicated to pursuing excellence in research and development, with the goal of providing more value to electronic consumers.
Contact:
pr@ugreen.com
Ugreen Limited
Related Links
https://www.ugreen.com/
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SOURCE Ugreen Limited | https://www.wibw.com/prnewswire/2022/05/01/ugreen-launches-new-hitune-t3-earbuds-globally/ | 2022-05-01T22:36:52Z |
- Canadians can continue to pay their pre-authorized bills and online tax payments
- Over a million Canadians use Dye & Durham's national payment infrastructure daily
TORONTO, July 8, 2022 /PRNewswire/ - Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), a leading provider of cloud-based efficient workflow software for legal and business professionals, announced today its online payment platform remains fully operational and unaffected by the wireless and internet service outages being reported across the country.
Dye & Durham's national payment infrastructure platform plays a critical role in Canada's financial system, supporting more than 1 million Canadians daily and processing more than $1.3 trillion in transactions annually. Canadians can confidently continue to make transactions such as pre-authorized payments for bills and taxes across all levels of government, in addition to a range of fund transfer services through their financial institutions.
"Our reliable national payment infrastructure remains fully operational, enabling consumers and businesses across the country to make timely and important transfers," said Dye & Durham Chief Operating Officer Martha Vallance. "Dye & Durham's technology plays a critical part in facilitating millions of daily transactions that drive Canada's economy."
About Dye & Durham
Dye & Durham Limited is a leading provider of cloud–based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada, the United Kingdom, Ireland and Australia, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations.
Additional information can be found at www.dyedurham.com
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SOURCE Dye & Durham Limited | https://www.wibw.com/prnewswire/2022/07/08/canadas-national-bill-tax-payment-infrastructure-operated-by-dye-amp-durham-remains-unaffected-by-todays-network-outages/ | 2022-07-08T20:53:01Z |
NEW YORK, July 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. (NASDAQ: ARQQ).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/arqit-quantum-inc-f-k-a-centricus-acquisition-corp-loss-submission-form/?id=29405&from=4
This lawsuit is on behalf of: (i) all persons or entities who purchased or otherwise acquired Arqit securities between September 7, 2021 and April 18, 2022, inclusive; and/or (ii) all holders of Centricus securities as of the record date for the special meeting of shareholders held on August 31, 2021 to consider approval of the merger between Arqit and Centricus (the "Merger") and entitled to vote on the Merger.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 5, 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, Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. issued materially false and/or misleading statements and/or failed to disclose that: (1) Arqit's proposed encryption technology would require widespread adoption of new protocols and standards for telecommunications; (2) British cybersecurity officials questioned the viability of Arqit's proposed encryption technology in a meeting in 2020; (3) the British government was not an Arqit customer but, rather, providing grants to Arqit; (4) Arqit had little more than an early-stage prototype of its encryption system at the time of the Merger; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis 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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SOURCE Jakubowitz Law | https://www.kxii.com/prnewswire/2022/07/01/arqq-shareholder-alert-jakubowitz-law-reminds-arqit-quantum-inc-fka-centricus-acquisition-corp-shareholders-lead-plaintiff-deadline-july-5-2022/ | 2022-07-01T10:00:07Z |
Environmental services company fleet grows by 400 frac tanks
HOUSTON, July 12, 2022 /PRNewswire/ -- Space City Services (SCS), an environmental and industrial services company, today announced completion of its acquisition of La Porte-based TIBC Rentals and Transportation.
"We're excited to welcome the TIBC team to Space City Services. This transaction positions us to be a significant player in the frac-tank-rental space along the Texas and Louisiana Gulf Coast," Robert Thomas, President, Space City Services said.
The acquired assets consist of more than 400 containers which include frac tanks, watertight roll off boxes, vacuum boxes, 25-yard and 50-yard trash roll off boxes, dewatering watertight roll off boxes and dewatering vacuum boxes.
Thomas founded Space City Services with a single truck in 2000. The fleet has grown to over 100 trucks, 200 trailers and additional trucks and trailers on order.
The company provides hazardous and non-hazardous waste transport, bulk chemical transport, turnaround and emergency response in-plant services, as well as regional and long hauls in the lower 48 states for a wide range of clients including refineries, petrochemical plants, environmental companies and oilfield chemical producers.
The acquisition enables Space City Services to offer turnkey environmental and industrial storage solutions in addition to the company's trademark-24/7 services and stainless-steel tank trailer and roll-off equipment rentals.
TIBC, founded in 2002, managed environmental projects along the Gulf Coast from delivery of containers to hauling, disposal, cleaning and waste-management solutions. Its management team will join Space City Services to ensure a seamless experience for existing and new customers.
"This acquisition is part of the ongoing rapid-growth period at Space City Services. The next several years will see us continuing strategic growth through acquisition and geographical expansion in order to provide additional capacity and resources to meet the needs of our customers," Thomas said.
Space City Services has strategically positioned itself within the industrial corridors of the Gulf Coast region with its home office in Houston and terminals in Beaumont, Texas and Geismar, Louisiana. The company is planning additional terminals throughout the Gulf Coast region.
This is the second acquisition in the company's two-decade history. The first was in 2021 when Space City Services acquired Superior Waste Solutions in a transaction that included more than 700 portable bathrooms, over 300 20-yard and 40-yard dumpsters as well as chemical toilet and septic tank sanitization equipment.
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SOURCE Space City Services | https://www.wibw.com/prnewswire/2022/07/12/space-city-services-announces-acquisition-ongoing-growth-period/ | 2022-07-12T16:43:09Z |
VANCOUVER, BC, Aug. 15, 2022 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower" or the "Company"), a leading manufacturer and distributor of zero-emission, electric-powered, medium and heavy-duty vehicles, today announced the results for its quarter ended June 30, 2022.
"We've achieved a number of milestones across various segments of our business including the first deliveries of our EV Star Cab and Chassis (EV Star CC) to Workhorse in July, expansion of the dealer network for our all-electric school buses, the acquisition of Lion Truck Body and entering into a Contract of Lease-Purchase for the facility in West Virginia," said Fraser Atkinson, CEO of GreenPower. "Our investment in inventory supports the deliveries we're making this summer and through this fall of our all-electric school buses, cargo vans and other EV Star models in addition to the build-up for the Workhorse contract."
Financial Highlights for the quarter:
- Recorded revenues of $3,851,105 for the current quarter an increase of 29% over the revenue of $2,980,086 for the same quarter last year,
- Gross profit of 28.8% of revenue,
- Cash including restricted cash of $5.4 million at the end of the period,
- Inventory of $39.7 million including finished goods of $24.6 million, and
- Working capital at the end of the quarter of $28.3 million.
Acquisition of Lion Truck Body:
During the quarter, GreenPower was engaged in the due diligence and negotiation of the acquisition of Lion Truck Body, a truck body manufacturer located near the port of Long Beach in Los Angeles. Lion Truck Body manufactures and instals a complete line of truck bodies including dry-freight aluminum, refrigerated box, aluminum beds, stake bed, flat bed and service body. With the successful closing of the acquisition in July, GreenPower is vertically integrating an important component of its supply chain, as the company is now able to send EV Star CCs to Lion Truck Body for body installation for customers, which captures another revenue stream that is currently being sent to third-party body manufacturers.
"The combination of GreenPower's EV expertise and the advanced body building experience of Lion Truck Body gives GreenPower a competitive advantage with shortened lead time as well as truck bodies that are optimized for EV Trucks. We've collaborated with Lion Truck Body to develop our new EV Star Cargo+ refrigerated truck, which is slated for delivery to our first customer this quarter with more payload, longer range and lower cost factor than any competitive EV refrigerated truck in its class on the market" stated Brendan Riley, President of GreenPower.
Supply Agreement with Workhorse:
GreenPower began manufacturing its first few tranches of EV Star CC's for the 1,500 unit purchase and sale contract with Workhorse. During the quarter, GreenPower coordinated with its suppliers for the delivery of key components and initiated production of 100 vehicle tranches of EV Star CC's. By the end of the quarter the first 100 EV Star CC's were near completion, the next tranche had entered production and key components for additional tranches had been ordered. The first deliveries to Workhorse began in July, with follow-on deliveries made in August. GreenPower's team is working closely with Workhorse to assist with the integration on the EV Star CC's.
Dealer Network Expansion for GreenPower's School Buses:
GreenPower presently has more than 40 Type D BEAST and Type A Nano BEAST school buses in finished goods inventory with substantially all of these expected to be sold and delivered by the end of this calendar year. GreenPower has ongoing discussions with dealers in the Mid-West, North-East and Pacific North West. GreenPower anticipates that initial deliveries across its dealer network will expand this sales channel, and better position the company to leverage significant local, state and federal funding for all-electric school buses.
EV Star Cargo vans:
During the quarter, GreenPower delivered its first five 22' cargo vans. Presently, GreenPower has approximately 40 EV Star Cargos in finished goods inventory and customers that have approved vouchers from the California Air Resource Board HVIP program or the New Jersey ZIP program for substantially all of these.
West Virginia Facility:
During the quarter, GreenPower entered into a lease-purchase agreement with the state for an 80,000 square foot facility on six acres of land to manufacture all-electric school buses for the U.S. market. As part of this partnership the state will provide worker training and hiring support, up to $3.5 million in employment incentive payments in exchange for meeting hiring targets and has agreed to purchase up to $15 million of GreenPower vehicles produced at the facility.
Results for the three months ended June 30, 2022
For the three-month period ended June 30, 2022 the Company recorded revenues of $3,851,105 and cost of sales of $2,743,431 generating a gross profit of $1,107,674 or 28.8% of revenues. Revenue was generated from the sale of 3 BEAST Type D all-electric school buses, 2 EV Star Plus, 1 EV Star Cargo+, 5 EV Star 22-foot cargo, 6 EV Stars and 4 EV Star Cab and Chassis, as well as revenue from finance and operating leases and other sources. Operating costs consisted of administrative fees of $1,754,768 relating to salaries, project management, accounting, and administrative services; transportation costs of $62,035 which relate to the use of trucks, trailers, contractors as well as other operational costs needed to transport company products around North America; travel, accommodation, meals and entertainment costs of $162,605 related to travel for project management, demonstration of company products, and trade shows; product development costs of $245,118; sales and marketing costs of $366,871; insurance expense of $350,534; professional fees of $312,840 consisting of legal and audit fees; and office expense of $144,484 consisting of rent and other office expenses, as well as non-cash expenses including $1,709,175 of share-based compensation expense and depreciation of $195,608, generating a loss from operations before interest, accretion and foreign exchange of $4,225,321. Interest and accretion of $121,936 and a foreign exchange gain of $1,072 resulted in a loss for the period of $4,346,185.
Media and Investor Contacts:
Fraser Atkinson, CEO
(604) 220-8048
Michael Sieffert, CFO
(604) 563-4144
Brendan Riley, President
(510) 910-3377
Mike Cole, IR
(949) 444-1341
Allie Potter
Skyya PR for GreenPower
(218) 766-8856
allie@skyya.com
About GreenPower Motor Company
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van, and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com
Forward-Looking Statements
This document contains forward-looking statements relating to, among other things, GreenPower's business and operations and the environment in which it operates, which are based on GreenPower's operations, estimates, forecasts, and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower's control. A number of important factors, including those set forth in other public filings (filed under the Company's profile on www.sedar.com), could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts expressed in U.S. dollars © 2022 GreenPower Motor Company Inc. All rights reserved.
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SOURCE GreenPower Motor Company | https://www.mysuncoast.com/prnewswire/2022/08/15/greenpower-reports-fiscal-first-quarter-2023-results/ | 2022-08-15T12:58:12Z |
Northern Trust funds first to go live on the new multi-jurisdictional environment
NEW YORK and LONDON, Sept. 7, 2022 /PRNewswire/ -- Leveraging blockchain technology to alleviate the complexities faced by asset managers with funds in multiple geographies, global Fintech leader Broadridge Financial Solutions, Inc. (NYSE: BR), has released a multi-jurisdictional version of its private equity platform, Private Market Hub, now available to funds domiciled in North America.
Previously operational for funds domiciled in Guernsey, Private Market Hub has been enhanced to support clients in the United States. Private Market Hub is currently the only fully operational multi-tenant enabled platform for the private equity (PE) market with the ability to seamlessly service funds across multiple jurisdictions powered by distributed ledger technology (DLT).
Broadridge's new capabilities are the first of their kind in the private equity industry, allowing all stakeholders in a fund's lifecycle to participate around a common set of data and workflows via a unified user interface, irrespective of the fund's jurisdiction. Northern Trust, the cornerstone client, has gone live with the first group of North American clients – marking a new milestone in the evolution of the platform.
"We are delighted that Private Market Hub is now available to North American domiciled funds – it comes at a time of explosive growth in the US, with PE fundraising tipping $400 billion and assets under management at an all-time high of $2.9 trillion1," said Mike Sleightholme, Broadridge's President of asset management solutions. "This latest set of enhancements is a first for the industry. It creates workflow and operational efficiencies for both US and multi-jurisdictional funds, giving them the ability to standardize processes and data across jurisdictions, avoiding disparate silos of client data."
Private Market Hub automates and unifies workflows between front, middle and back-office functions while simultaneously protecting the integrity and sovereignty of data. It brings together ecosystem participants around a consistent, secure, real-time view of data - reducing friction for fund managers, investors and administrators, and enabling easier auditability. Funds can manage, communicate and engage with investors and other stakeholders with far greater efficiency. This innovative platform is enabled by distributed ledger technology, which streamlines traditionally disconnected and inefficient processes and facilitates greater visibility across the ecosystem.
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information about us, please visit www.broadridge.com.
Media contacts:
North America
Matthew Luongo
Prosek Partners
+1 646-818-9279
mluongo@prosek.com
Europe
Hannah Polson
Cognito
+44 (0) 7974244217
BroadridgeEMEA@cognitomedia.com
Asia Pacific
Kainoa Blaisdell
Teneo
+65 6955 8874
ASIA-broadridge@teneostrategy.com
1 McKinsey Global Private Markets Review 2022 – Private markets rally to new heights
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SOURCE Broadridge Financial Solutions, Inc. | https://www.mysuncoast.com/prnewswire/2022/09/07/private-market-hub-becomes-first-multi-jurisdictional-multi-tenant-enabled-solution-private-equity-firms-globally/ | 2022-09-07T08:43:58Z |
DALLAS, Aug. 23, 2022 /PRNewswire/ -- Texas Instruments Incorporated (TI) (Nasdaq: TXN) Chairman, President and Chief Executive Officer Rich Templeton will speak at the Citi 2022 Global Technology Conference in New York City on Wednesday, Sept. 7, at 9 a.m. Eastern time. Templeton will field questions from analysts and investors, as well as discuss TI's business outlook and its strategy to address key markets for its analog and embedded processing technologies and how these capabilities position the company for growth.
The audio webcast for the conference can be accessed live through the Investor Relations section (www.ti.com/ir) of TI's website. An archived replay will be available on the website after his remarks.
About Texas Instruments
Texas Instruments Incorporated (Nasdaq: TXN) is a global semiconductor company that designs, manufactures, tests and sells analog and embedded processing chips for markets such as industrial, automotive, personal electronics, communications equipment and enterprise systems. Our passion to create a better world by making electronics more affordable through semiconductors is alive today, as each generation of innovation builds upon the last to make our technology smaller, more efficient, more reliable and more affordable – making it possible for semiconductors to go into electronics everywhere. We think of this as Engineering Progress. It's what we do and have been doing for decades. Learn more at TI.com.
TXN-G
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SOURCE Texas Instruments Incorporated | https://www.mysuncoast.com/prnewswire/2022/08/23/ti-ceo-rich-templeton-speak-citi-investor-conference/ | 2022-08-23T16:13:12Z |
NEW YORK, Sept. 16, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of TuSimple Holdings Inc. (NASDAQ: TSP).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/tusimple-holdings-inc-loss-submission-form/?id=31790&from=4
This lawsuit is on behalf of all persons who: (a) purchased or otherwise acquired TuSimple common stock pursuant and/or traceable to documents issued in connection with TuSimple's April 15, 2021 initial public offering; and/or (b) that purchased or otherwise acquired TuSimple securities between April 15, 2021 and August 1, 2022, both dates inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until October 31, 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, TuSimple Holdings Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) TuSimple's commitment to safety was significantly overstated and defendants concealed fundamental problems with the Company's technology; (ii) TuSimple was rushing the testing of its autonomous driving technology in order to deliver driverless trucks to the market ahead of its more safety-conscious competitors; (iii) there was a corporate culture within TuSimple that suppressed or ignored safety concerns in favor of unrealistically ambitious testing and delivery schedules; (iv) the aforementioned conduct made accidents involving the Company's autonomous driving technology more likely; (v) the aforementioned conduct invited enhanced regulatory scrutiny and investigatory action toward the Company; 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
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SOURCE Jakubowitz Law | https://www.wibw.com/prnewswire/2022/09/16/tsp-shareholder-alert-jakubowitz-law-reminds-tusimple-shareholders-lead-plaintiff-deadline-october-31-2022/ | 2022-09-16T11:08:48Z |
Meritize is tackling the shortage of skilled talent by helping high-potential workers finance training and education for in-demand careers
FRISCO, Texas, June 30, 2022 /PRNewswire/ -- Meritize, developer of merit-based financing solutions and a technology platform that connects career starters and mid-career professionals with high-impact skills training, today announced that it has closed on a funding round from the impact investment arm of Aegon Asset Management. The company will use the funding to scale its operations and growth and accelerate its momentum meeting the complex education and training needs of fast-growing industries, including information technology, health care, aviation, and industrials.
"The jobs we do and the way we do them are changing at a pace never before seen in our country's history. Employers, in turn, need accelerated and affordable models of education and training that can help workers build skills in line with the ephemeral demands of the labor market," said Chris Keaveney, founder and CEO of Meritize. "This impact investment will accelerate our progress toward the long-term goal of unlocking awareness, access and advancement for high-potential workers."
Even as the economy enters a new period of uncertainty, employers are still facing a critical shortfall of skilled talent. A recent Korn Ferry analysis found that the global talent shortage could lead to 85 unfilled million jobs through 2030, costing employers more than $8.5 trillion in unrealized actual revenues. A record 47 million Americans quit their jobs in 2021, and the U.S. labor market reached a new record for unfilled jobs—11.5 million—in the month of March.
To address this shortage of skilled talent, Meritize has built a unique three-sided marketplace that serves training providers, skill-seekers, and employers. It not only underwrites the cost of education and training for populations who have been historically underserved, but also fosters connections between training providers, skill-seekers, and employers in search of talent for high-demand roles.
Unlike traditional approaches to education credit and finance, Meritize's forward-looking model is based on an individual's potential to succeed, rather than credit scores or other narrow measures of economic worth. The company's platform uses an individual's academic or military achievements to enhance credit evaluation and potentially improve financing options. Using borrower data to forecast the likelihood of completion and loan repayment, Meritize is often able to significantly expand funding opportunities for students who have been previously underserved by traditional loans.
Since its founding, Meritize has experienced significant growth, expanding to serve more than 13,000 students and trainees participating in 3,000 unique, in-demand training programs. Today, more than 500 high-quality training providers across the United States are now using Meritize's unique approach to merit-based finance to help professionals access and pay for training. This includes a diverse set of programs such as Coast Flight Academy, Siemens Gamesa's Wind Academy, and the Arizona Heart Foundation.
Aegon Asset Management's Impact Venture Credit program invests in innovative companies working to address pressing societal problems, such as financial inclusion, health and well-being, and environmental sustainability. The investment in Meritize marks its first investment in a financial services company.
"Promoting workforce and financial inclusion and addressing the shortage of skilled talent in today's workforce are two sides of the same coin," said James Rich, founder and lead portfolio manager of Aegon Asset Management's Sustainable Fixed Income and Impact Venture Credit strategies. "Meritize has created a unique model that addresses financial access and inclusion, while meeting the interdependent needs of employers, talent, and educators."
Aegon joins Meritize's existing investors, which include College Loan Corp., BAWAG, Colchis Capital, Cube Financial Holdings, Chicago Ventures and Meritize Management. James Rich of Aegon will join Meritize's board of directors as an observer.
About Aegon: Aegon Asset Management's 385 investment professionals manage and advise on assets of $432 billion, as of March 31, 2022, for a global client-base of pension plans, public funds, insurance companies, banks, wealth managers, family offices and foundations. We organize our investment capabilities around four focused investment platforms where we have extensive asset-class expertise: fixed income, real assets, equities and multi-asset & solutions. Each platform has dedicated teams, organized globally and committed to maximizing their specialist areas. These platforms are supported by teams dedicated to responsible investing and multi-management. For more information about Aegon Asset Management, visit aegonam.com.
About Meritize: Meritize is a leading provider of funding solutions for skills-based education and workforce development. The company's proprietary merit-based lending program goes beyond traditional underwriting and uses an individual's academic or military achievements to enhance credit evaluation and expand funding opportunities, resulting in increased access to educational funding and improved outcomes. Frisco, Texas-based Meritize is privately held. For more information visit www.meritize.com.
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SOURCE Meritize | https://www.mysuncoast.com/prnewswire/2022/06/30/dallas-based-workforce-finance-startup-announces-impact-investment/ | 2022-06-30T14:35:22Z |
Missouri execution would be just fifth this year in the US
(AP) - A man whose death sentence for killing a Missouri couple while robbing their home was overturned three times was scheduled to be executed on Tuesday.
Carman Deck, 56, would be just the fifth U.S. inmate to be executed this year if his lethal injection goes ahead. His hopes for a reprieve were all but dashed on Monday when the U.S. Supreme Court turned aside an appeal and Republican Gov. Mike Parson declined Deck’s clemency request, though he could file new appeals.
Deck, who was from the St. Louis area, was a friend of the grandson of James and Zelma Long and knew they kept a safe in their home De Soto, about 45 miles (72 kilometers) southwest of St. Louis, according to court records.
In July 1996, Deck and his sister stopped at the home under the guise of asking for directions. Deck told a detective that he wasn’t surprised to be invited inside by the couple, who were in their late 60s.
“They’re country folks,” Deck said, according to court records. “They always do.”
Once inside, Deck pulled a gun from his waistband. At Deck’s command, Zelma Long opened the safe and removed jewelry, then got $200 from her purse and more money hidden in a canister.
Deck ordered the couple to lie on their stomachs on their bed. Court records said Deck stood there for 10 minutes deciding what to do, then shot James Long twice in the head before doing the same thing to Zelma Long.
A tip alerted police to Deck and he was arrested later that night outside his sister’s apartment building in St. Louis County. The decorative tin canister from the Long home was in his car.
Prosecutors said Deck later gave a full account of the killings. He was sentenced to death in 1998, but the Missouri Supreme Court tossed the sentence due to errors by Deck’s trial lawyer.
He was condemned to death a second time, but the U.S. Supreme Court threw out the sentence in 2005, citing the prejudice caused by Deck being shackled in front of the jury.
He was sentenced to death for a third time in 2008, but U.S. District Judge Catherine Perry overturned that sentence nine years later after she determined that “substantial” evidence arguing against the death penalty during Deck’s first two penalty phases was unavailable for the third because witnesses had died, couldn’t be found or declined to cooperate.
In October 2020, a three-judge panel of the 8th U.S. Circuit Court of Appeals restored the death penalty, ruling that Deck should have raised his concern first in state court, not federal court. Appeals of that ruling were unsuccessful.
Deck’s clemency petition said he suffered sexual abuse and beatings as a child, and that he and his siblings were often left alone without food.
But Parson wasn’t swayed, explaining his rationale for rejecting the petition in a news release: “Mr. Deck has received due process, and three separate juries of his peers have recommended sentences of death for the brutal murders he committed.”
The number of executions in the U.S. has declined significantly since peaking at 98 in 1998. The drop has coincided with a decline in public support for capital punishment that has fallen from a high of 80% in 1994 to 54% in 2021, according to Gallup polls. Since the mid-1990s, opposition to capital punishment has risen from under 20% to about 45%.
Just four people have been executed in 2022 — Donald Anthony Grant and Gilbert Ray Postelle in Oklahoma, Matthew Reeves in Alabama and Carl Wayne Buntion last month in Texas. All four were convicted killers who were put to death by injection. Eleven people were executed in the U.S. last year, which was the country’s fewest executions since 1988.
Use of the death penalty has become concentrated mostly in a few Southern and Plains states. Last year, Texas executed three inmates, Oklahoma executed two, and one each were put to death in Alabama, Mississippi and Missouri. Three federal inmates were executed in January 2021, toward the end of President Donald Trump’s administration.
On Monday, Tennessee Gov. Bill Lee paused executions for the rest of the year to enable a review of lethal injection procedures after a testing oversight forced the state to call off the execution of Oscar Smith an hour before he was to die on April 21.
Copyright 2022 The Associated Press. All rights reserved. | https://www.mysuncoast.com/2022/05/03/missouri-execution-would-be-just-fifth-this-year-us/ | 2022-05-03T12:14:08Z |
NEW YORK, July 14, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Spero Therapeutics, Inc. ("Spero" or the "Company") (NASDAQ: SPRO) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Spero investors who were adversely affected by alleged securities fraud between October 28, 2021 and May 2, 2022. Follow the link below to get more information and be contacted by a member of our team:
SPRO investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) the data submitted in support of the New Drug Application ("NDA") for the Company's product candidate, Tebipenem HBr, were insufficient to obtain approval from the U.S. Food and Drug Administration ("FDA"); (ii) accordingly, it was unlikely that the FDA would approve the Tebipenem HBr NDA in its current form; (iii) the foregoing would necessitate a significant workforce reduction and restructuring of Spero's operations; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Spero during the relevant time frame, you have until July 25, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP | https://www.kxii.com/prnewswire/2022/07/14/spro-lawsuit-alert-levi-amp-korsinsky-notifies-spero-therapeutics-inc-investors-class-action-lawsuit-upcoming-deadline/ | 2022-07-14T10:21:59Z |
NEW YORK, May 18, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for NU, RDBX, PLUG, DOCS, and VRM.
To see how InvestorsObserver's proprietary scoring system rates these stocks, view the InvestorsObserver's PriceWatch Alert by selecting the corresponding link.
- NU: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=NU&prnumber=051820225
- RDBX: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=RDBX&prnumber=051820225
- PLUG: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=PLUG&prnumber=051820225
- DOCS: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=DOCS&prnumber=051820225
- VRM: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=VRM&prnumber=051820225
(Note: You may have to copy this link into your browser then press the [ENTER] key.)
InvestorsObserver's PriceWatch Alerts are based on our proprietary scoring methodology. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Each of those scores is then combined into an overall score that determines a stock's overall suitability for investment.
InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street. We have a wide range of tools to help investors make smarter decisions when investing in stocks or options.
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SOURCE InvestorsObserver | https://www.kxii.com/prnewswire/2022/05/18/thinking-about-buying-stock-nu-holdings-redbox-plug-power-doximity-or-vroom/ | 2022-05-18T15:22:03Z |
Wichita man charged with murder in 1-year-old son’s death
WICHITA, Kan. (KWCH) - A Wichita man was charged with first-degree murder and an alternative count of first-degree murder in the death of his one-year-old son on Monday. Kentrell Willingham, 25 of Wichita, appeared in court in Sedgwick County where he was also charged with child abuse and aggravated endangering a child.
“Cases can be charged alternatively if there are two or more theories of how the crime was committed. Each charge can be presented to a jury and a defendant may be convicted of more than one of the alternative charges. However, the defendant can only be sentenced for one of the alternative counts, that being the most severe offense,” said the Sedgwick County District Attorney’s Office.
Wichita police said on July 28, Willingham and a family member, who has custody of the child, exchanged custody. A short time later, the boy become unresponsive and the family member drove the boy to the hospital where he died.
Police arrested Willingham and his girlfriend Xjohnna Roman Hannah in connection with the boy’s death.
Hannah was charged with murder, child abuse and child endangerment on Aug. 2. She is no longer in jail.
Willingham remains free on bond. He is scheduled to appear back in court on Aug. 29. Both he and Hannah had bonds set at $250,000.
Copyright 2022 KWCH. All rights reserved. | https://www.wibw.com/2022/08/17/wichita-man-charged-with-murder-1-year-old-sons-death/ | 2022-08-17T01:22:44Z |
- Employers in the U.S. report a Net Employment Outlook of 38% for July through September.
- IT employers continue to anticipate the most optimistic hiring pace (59%), followed by Banking/Finance/Insurance & Real Estate (45%)
- Promising Outlooks are reported for job seekers across all four U.S. regions, most notably in the West with an Outlook of 42%, up 15% from this time last year.
MILWAUKEE, May 19, 2022 /PRNewswire/ -- As businesses deal with inflationary and supply chain pressures, half (50%) of 6,000+ U.S. employers plan to have job openings during the third quarter according to the latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey*. Only 12% expect a decrease in their workforce, down two percentage points from last quarter. Once seasonal variation is removed, the U.S. Net Employment Outlook (NEO) for Q3 is 38%, strengthening by 9 percentage points from Q3 2021 and 3 percentage points since the previous quarter.
KEY FINDINGS SUMMARY
- As tech for good gains momentum, digital roles continue to drive demand: IT, Technology, Telecoms, Communications & Media reported the strongest outlook (+59%), followed by Finance/Real Estate (+45%). The weakest hiring intentions were found in the Other Industry category (+24%).
- Employers in the Northeast (43%) are most optimistic to grow their staff this coming quarter, followed by the West (42%) region.
- Large organizations of 250+ employees report bullish hiring intentions (49%), leading the charge in the economic recovery.
"As labor demand continues to outpace supply, employers across America are bullish in their hiring intentions," said Becky Frankiewicz, President, ManpowerGroup North America. "Despite chaotic market conditions and the challenges of inflation, we are living through one of the strongest job markets in U.S. history. The empowered workforce is here to stay. To meet their hiring objectives and attract and retain the talent that enables them to grow, employers will need to focus on three key areas: flexibility, employee wellbeing, and upskilling and reskilling efforts."
View the complete Q3 2022 U.S. survey results: manpowergroupusa.com/meos
U.S. Hiring Plans by Industry Sectors
- Employers in all 11 U.S. industry sectors expect to grow their staff during the next three months: IT, Technology, Telecoms, Communications & Media (+59%); Banking, Finance, Insurance & Real Estate (+45%); Construction (+42%), Manufacturing (+40%); Wholesale & Retail Trade (+40%); ; Not-for-Profit (+39%); Restaurants & Hotels (+35%); Education, Health, Social Work & Government (+33%); Other Services (+32%); Primary Production (+26%); and Other Industry (+24%).
- To view complete results for the ManpowerGroup Employment Outlook Survey, visit: manpowergroupusa.com/meos. The next survey will be released in September 2022 and will report hiring expectations for the fourth quarter. With MEOS beginning in 1962, this year's results mark the 60th consecutive year of the survey.
ABOUT THE SURVEY
The ManpowerGroup Employment Outlook Survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis and Talent Solutions – creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2022 ManpowerGroup was named one of the World's Most Ethical Companies for the 13th year – all confirming our position as the brand of choice for in-demand talent.
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SOURCE ManpowerGroup | https://www.mysuncoast.com/prnewswire/2022/05/19/q3-us-optimism-reigns-hiring-intentions-improve-over-last-quarter-last-year/ | 2022-05-19T04:44:13Z |
Carrier's first-of-its-kind investment supports the development of technology intended to commercialize sustainable aviation fuel
DALLAS, June 1, 2022 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) ("Southwest" or the "Company") today announces an investment into SAFFiRE Renewables, LLC (SAFFiRE), a company formed by D3MAX, LLC (D3MAX), as part of a Department of Energy (DOE)-backed project to develop and produce scalable, sustainable aviation fuel (SAF). Funded with a DOE grant matched by Southwest's investment, SAFFiRE is expected to utilize technology developed by the DOE's National Renewable Energy Laboratory (NREL) to convert corn stover, a widely available waste feedstock in the U.S., into renewable ethanol that then would be upgraded into SAF.
In 2021, the DOE awarded D3MAX the only pilot-scale grant for SAF production, with a goal to scale technology that could commercialize SAF. According to NREL, this could produce significant quantities of cost-competitive SAF that could provide an 84 percent reduction in carbon intensity compared to conventional jet fuel on a lifecycle basis. Southwest's match of the DOE's grant supports phase one of the project, which is expected to include technology validation, preliminary design, and a business plan for a pilot plant.
"SAF is critical for decarbonizing the aviation sector," said Bob Jordan, Chief Executive Officer at Southwest®. "This is a unique opportunity to invest in what we believe could be game-changing technology that could facilitate the replacement of up to approximately five percent of our jet fuel with SAF by 2030, with the potential to significantly continue to scale beyond the decade. This first-of-its-kind investment is another step we are taking to address our environmental impact, and it also supports our efforts to partner with organizations and government entities to help our industry reach the goal of carbon neutrality by 2050."
In 2021, Southwest set a near-term goal to maintain carbon neutrality to 2019 levels while continuing to grow its operations, part of which includes replacing 10 percent of its total jet fuel consumption with SAF by 2030.
In addition to complementing Southwest's SAF goals and broader environmental sustainability efforts, this project supports the federal government's climate strategy, including an ambition for three billion gallons of SAF by 2030 through the SAF Grand Challenge.
"The Department of Energy is committed to turning our ambitious aviation decarbonization goals into realities through strong partnerships across the airline industry," said U.S. Deputy Secretary of Energy David Turk. "Moving cutting-edge technology advances in sustainable aviation to production scale will save money, reduce carbon emissions, and reshape the future of the airline travel for the benefit of American consumers."
The pilot project is intended to validate the commercialization of this corn-stover-to-ethanol technology, which could lead to a follow-up phase. If phase one is successful, DOE and Southwest would have the opportunity to fund a second phase investment for the design, fabrication, installation, and operation of a pilot plant producing renewable ethanol utilizing technology developed by D3MAX and NREL. In phase two, the renewable ethanol is planned to be upgraded into SAF by LanzaJet, Inc., at its biorefinery currently under construction in Soperton, Georgia.
"We are extremely excited to be working with Southwest Airlines—they will be a great investor," said Mark Yancey, CEO of SAFFiRE. "SAFFiRE technology is expected to produce lower carbon SAF compared to conventional jet fuel on a lifecycle basis, which could become carbon negative with process improvements and carbon capture. If we are successful in developing and commercializing this technology, we project the technology can produce 7.5 billion gallons per year of SAF by 2040."
"NREL is thrilled to contribute its research and development expertise in biofuels to this exciting collaboration with Southwest Airlines, D3MAX, and DOE to potentially bring SAF to the market quickly and economically," said Adam Bratis, Associate Laboratory Director of BioEnergy Sciences & Technology at NREL.
Southwest is one of the most honored airlines in the world and remains focused on promoting a healthier planet, but the Company can't accomplish that alone. As described in its 10-Year Environmental Sustainability Plan, Southwest's plans to reduce, replace, offset, and partner are important next steps in the journey to build a holistic approach to improve its environmental sustainability. Learn more about these efforts by visiting swa.is/planetplan.
Southwest's Focus on Environmental Sustainability
- In October 2021 established a plan of action to reduce Southwest's carbon emissions intensity by at least 20 percent by 20301 and maintain carbon neutral growth every year through the end of the decade.
- Announced multiple offtake agreements and memoranda of understanding with sustainable aviation fuel producers.
- In October 2021, Southwest announced the first U.S.-based carbon offset option where individual customers can contribute towards offsetting Southwest's carbon emissions.2
- Joined the Vision 2045 campaign, a collaboration among multiple organizations and companies to share films and resources that aim to inspire businesses and people to take action toward a more sustainable future. Southwest content showcased how the Company is making sustainability a priority through a series of near-term actions and long-term goals.
- Launched opportunities for Southwest® Business Customers to support and advance sustainability initiatives within their corporate travel portfolios.
- Committed $10 million to Yale University's Center for Natural Carbon Capture to research technological advancements and find new solutions to reduce net greenhouse gas emissions.
- Joined the Aviation Climate Taskforce, a new nonprofit founded with a goal to tackle the challenges of reducing carbon emissions in aviation.
About SAFFiRE Renewables, LLC
SAFFiRE is an acronym for Sustainable Aviation Fuel From [i] Renewable Ethanol. Formed in 2022, SAFFiRE Renewables, LLC intends to first pilot, and then commercialize if the pilot is successful, proprietary technology to convert waste biomass like corn stover into renewable ethanol. SAFFiRE expects to exclusively license technology from the National Renewable Energy Laboratory (NREL) and D3MAX, LLC that, when combined, will enable the production of low-cost, low-carbon renewable ethanol. The renewable ethanol would then be upgraded into fully certified sustainable aviation fuel, utilizing alcohol-to-jet technology applied by prospective SAF producers. Learn more at http://www.saffirerenewables.com/.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to (i) the Company's expectations with respect to the feasibility of technology to convert corn stover to renewable ethanol that would then be upgraded to sustainable aviation fuel ("SAF"); (ii) the Company's expectations with respect to phases one and two of SAFFiRE Renewable, LLC's ("SAFFiRE") business, and (iii) the Company's beliefs about the amount of SAF that may be produced or that may be available for the Company's use, including by 2030, as well as the opportunity to scale beyond then. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others,(i) any negative developments in any phase of SAFFiRE's business development from current concept to commercialization, including limitations on the availability of feedstock, transportation, and refinery availability; (ii) the continuation of government support for SAFFiRE's objectives and renewable fuels generally, including SAF; (iii) the consequences of competition with other existing and new sources of aviation fuel, whether or not sustainable; (iv) the ability to obtain and protect intellectual property rights relating to the development and commercialization of technology to convert corn stover to renewable ethanol; (v) the impact of economic conditions, governmental actions, climate-related conditions and weather events, fuel prices, actions of competitors, socio-demographic trends, consumer perception, and other factors beyond the Company's control, on the Company's business plans, expectations, and goals; and (vi) other factors, as described in the Company's filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Caution should be taken not to place undue reliance on the Company's forward-looking statements, which represent the Company's views only as of the date this release. The Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
ABOUT SOUTHWEST AIRLINES CO.
Southwest Airlines Co. operates one of the world's most admired and awarded airlines, offering its one-of-a-kind value and Hospitality at 121 airports across 11 countries. Celebrating its 50th Anniversary in 2021, Southwest took flight in 1971 to democratize the sky through friendly, reliable, and low-cost air travel and now carries more air travelers flying nonstop within the United States than any other airline1. Based in Dallas and famous for an Employee-first corporate Culture, Southwest maintains an unprecedented record of no involuntary furloughs or layoffs in its history. By empowering its nearly 59,0002 People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among as many as 130 million Customers carried a year. That formula for success brought industry-leading prosperity and 47 consecutive years3 of profitability for Southwest Shareholders (NYSE: LUV). Learn more at Southwest.com/citizenship about how Southwest Airlines leverages a unique legacy and mission to serve communities around the world.
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SOURCE Southwest Airlines Co. | https://www.kxii.com/prnewswire/2022/06/01/southwest-airlines-invests-sustainable-aviation-fuel-pilot-project-supported-by-department-energy/ | 2022-06-01T18:37:57Z |
- Olyverse, a blockchain platform focused on the production of stories based on NFTs, creates a revolutionary new format: Non-Fungible Story (NFS), a new paradigm for creating and consuming content collaboratively and collectively, and with a strong experiential focus.
- Morte's first collection of NFTs will be available to buy with Olyverse's token (OLY) and Ethereum (ETH), or with credit or debit card on olyverse.com
- Olyverse creates a new paradigm within the NFTs dynamics. A key aspect is led by Farzin Fardin Fard, CEO of 3F Music Dubai: the Official Curator and Wholesaler of Olyverse. Farzin is also the main owner of Álvaro Morte's first NFT collection, also being one of the top references in the NFT space.
MADRID, June 14, 2022 /PRNewswire/ -- Money Heist's actor Álvaro Morte and film director Koldo Serra, together with Carlos Grenoir, CEO of Olyseum, unveiled today Olyverse, Olyseum's new entertainment production project, in Madrid. Actress and journalist Cayetana Guillén Cuervo, who is also an active part of the project, was the event's host.
Olyverse introduces for the first time a new format of NFTs: NFS (Non-Fungible Story), 3D animated films in the metaverse, based on a collection of NFTs, unique and authenticated digital assets that give buyers access to avatars inspired in the stars involved in the films. Buyers are also granted additional benefits like deciding upon the series' storylines, participating in auditions with the stars, enrolling in acting courses and attending exclusive events. The first NFS will be directed by filmmaker Koldo Serra and will star Álvaro Morte.
According to Álvaro Morte, "We have introduced a new form of artistic expression, telling stories which have collectively developed together with the audience, thus fostering social interest in culture. We do this through NFTs, creating iconic collections of films with world-class stars who will appear throughout the series' storyline."
The first NFS of the series is titled "The art leader;" a hacker, played by Morte's character "Olyver", takes on the mission of saving works of art that a malicious hacker is threatening to steal and destroy. Olyver recruits different well-known personalities from various disciplines and with different skills.
Koldo Serra, co-director of Money Heist, will be the series director and screenwriter: "As a filmmaker, coming up with creative ways to tell stories to the world is an exciting challenge to face. I have never before seen such an open and collaborative way of creating art."
The launch event took place in Madrid, and it served as the backdrop to the unveiling of the project's star production: the first collection of NFS, a new and futuristic web3 platform, and a video teaser of Olyverse starring Álvaro Morte.
The project is the brainchild of Carlos Grenoir, an engineer specialized in neuroscience, who explained: "the current digital landscape is rooted in centralization, where platforms and institutions monopolize all creative and business processes, leaving users in the side lines. With the introduction of a new web3, users are granted access to the creative process, empowering and giving them rights to their assets. This allows us to create a more collaborative ecosystem and open new avenues for collective creation."
As a community-based project, Olyverse has a social side. For example, Olyverse and the stars taking part will donate part of their income made to different organizations. The first will be associated with Álvaro Morte's first collection who will be donating part of the profits to fight childhood cancer, through the CRIS foundation.
Former footballer Carles Puyol, vice-president of the company, has also explained how the project began: " When my great friend Iván de la Peña told me about Carlos Grenoir's idea, I didn't hesitate for a moment. Since then, it has become one of my most personal projects."
During the event it was also revealed that Turkish actor Kerem Bürsin, known for his role in the series "Love is in the air", had been added to the cast of the series.
About Olyverse
Olyverse is a digital entertainment 3.0 brand from Olyseum, creating a new audio-visual format, and connecting stars and their fans through digital assets.
Logo - https://mma.prnewswire.com/media/1839471/Olyverse_Logo.jpg
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SOURCE Olyverse | https://www.mysuncoast.com/prnewswire/2022/06/14/lvaro-morte-koldo-serra-carles-puyol-carlos-grenoir-unveil-olyverse-ground-breaking-project-making-nfts-into-all-star-cast-films/ | 2022-06-14T15:07:51Z |
Abbott Reports Second-Quarter 2022 Results and Raises Full-Year EPS Guidance
Published: Jul. 20, 2022 at 7:30 AM EDT|Updated: 46 minutes ago
- Sales growth of 10.1 percent; organic sales growth of 14.3 percent
- GAAP diluted EPS growth of 72.7 percent; adjusted diluted EPS growth of 22.2 percent
- Global COVID-19 testing-related sales of $2.3 billion in the second quarter
- Continues to strengthen portfolio with new product approvals
ABBOTT PARK, Ill., July 20, 2022 /PRNewswire/ -- Abbott (NYSE: ABT) today announced financial results for the second quarter ended June 30, 2022.
- Second-quarter sales of $11.3 billion increased 10.1 percent on a reported basis and 14.3 percent on an organic basis, which excludes the impact of foreign exchange.
- GAAP diluted EPS1 was $1.14 in the second quarter. Excluding specified items, adjusted diluted EPS was $1.43, which reflects growth of 22.2 percent compared to the prior year.
- Global COVID-19 testing-related sales were $2.3 billion in the second quarter.
- Abbott is raising its full-year 2022 EPS guidance. Abbott projects full-year diluted EPS on a GAAP basis of at least $3.50 and projected adjusted diluted EPS of at least $4.90.
- 2022 guidance includes projected COVID-19 testing-related sales of $6.1 billion, which includes sales of $5.6 billion through June 2022 and projected sales of $500 million over the next few months.
- In April, Abbott announced U.S. Food and Drug Administration (FDA) approval of its Aveir™ single-chamber (VR) leadless pacemaker for the treatment of patients with slow heart rhythms. Aveir VR is the world's only leadless pacemaker with a unique mapping capability to assess correct positioning prior to placement and was specifically designed to be expandable and retrievable when therapy needs evolve or the device needs to be replaced.
- In May, Abbott announced U.S. FDA clearance of its FreeStyle Libre® 3 system, which automatically delivers up-to-the-minute glucose readings and unsurpassed 14-day accuracy2 in the world's smallest and thinnest3 wearable sensor.
- In June, Abbott announced breakthrough device designation from the U.S. FDA for its first-of-its-kind glucose-ketone biowearable sensor development program, which will enable people with diabetes to continuously monitor glucose and ketones in one sensor, helping those at risk for developing a life-threatening complication called diabetic ketoacidosis.
"We achieved another quarter of strong growth and are raising our full-year EPS guidance," said Robert B. Ford, chairman and chief executive officer, Abbott. "Our new product pipeline has remained highly productive, and our diversified business has continued to be resilient in a challenging macro environment."
SECOND-QUARTER BUSINESS OVERVIEW
Note: Management believes that measuring sales growth rates on an organic basis is an appropriate way for investors to best understand the underlying performance of the business. Organic sales growth excludes the impact of foreign exchange.
Following are sales by business segment and commentary for the second quarter 2022:
Second-quarter 2022 worldwide sales of $11.3 billion increased 10.1 percent on a reported basis and 14.3 percent on an organic basis.
Worldwide sales, excluding COVID-19 testing-related sales, decreased 0.3 percent on a reported basis and increased 4.1 percent on an organic basis in the quarter.4 Worldwide sales were negatively impacted by a voluntary recall and manufacturing shutdown initiated in February of certain infant formula products manufactured at one of Abbott's U.S. plants. Excluding COVID-19 testing-related sales and the U.S. sales associated with the recalled products in the current and prior years, total worldwide sales increased 1.6 percent on a reported basis and 6.2 percent on an organic basis in the second quarter. 5
Worldwide Nutrition sales decreased 7.4 percent on a reported basis and 4.5 percent on an organic basis in the second quarter. Total worldwide Nutrition and Pediatric Nutrition sales were negatively impacted by a voluntary recall and manufacturing shutdown initiated in February of certain infant formula products manufactured at one of Abbott's U.S. plants. On July 1, Abbott restarted partial production at the facility. Excluding the U.S. sales associated with these products in the current and prior years, total worldwide Nutrition sales increased 0.5 percent on a reported basis and 3.8 percent on an organic basis in the second quarter.6
In Adult Nutrition, Ensure®, Abbott's market-leading complete and balanced nutrition brand, and Glucerna®, Abbott's market-leading diabetes nutrition brand, led to global sales growth of 1.2 percent on a reported basis and 5.2 percent on an organic basis.
Worldwide Diagnostics sales increased 33.1 percent on a reported basis and 36.9 percent on an organic basis in the second quarter. Global COVID-19 testing-related sales were $2.3 billion in the quarter, led by sales of testing products in Rapid Diagnostics.
Sales in Core Laboratory and Molecular Diagnostics were impacted by year-over-year declines in COVID-19 testing-related sales in these businesses. Excluding COVID-19 testing-related sales, Core Laboratory Diagnostics sales decreased 3.1 percent on a reported basis and increased 2.3 percent on an organic basis and Molecular Diagnostics sales increased 17.9 percent on a reported basis and 22.3 percent on an organic basis in the second quarter.7
Established Pharmaceuticals sales increased 3.7 percent on a reported basis and 9.2 percent on an organic basis in the second quarter.
Key Emerging Markets include several emerging countries that represent the most attractive long-term growth opportunities for Abbott's branded generics product portfolio. Sales in these geographies increased 1.8 percent on a reported basis and 7.1 percent on an organic basis, led by double-digit growth on a reported and organic basis in several geographies and therapeutic areas, including cardiometabolic, respiratory and central nervous system/pain management.
Other sales increased 10.3 percent on a reported basis and 16.7 percent on an organic basis in the quarter.
Worldwide Medical Devices sales increased 2.5 percent on a reported basis and 7.5 percent on an organic basis in the second quarter. Sales growth was negatively impacted by reduced cardiovascular and neuromodulation procedure volumes as a result of recent surges of COVID-19 in several geographies, healthcare staffing challenges and lockdowns in China that were implemented to control the spread of the virus.
In Diabetes Care, FreeStyle Libre sales were approximately $1.1 billion in the quarter, which represents sales growth of 18.7 percent on a reported basis and 25.6 percent on an organic basis.
ABBOTT'S EARNINGS-PER-SHARE GUIDANCE
Abbott is raising its projected full-year 2022 diluted earnings per share under GAAP to at least $3.50. Abbott forecasts specified items for the full-year 2022 of $1.40 per share primarily related to intangible amortization, costs related to a voluntary recall, expenses associated with acquisitions, restructurings and cost reduction initiatives and other net expenses. Excluding specified items, Abbott is raising its projected adjusted diluted earnings per share to at least $4.90 for the full-year 2022.
ABBOTT DECLARES 394TH CONSECUTIVE QUARTERLY DIVIDEND
On June 10, 2022, the board of directors of Abbott declared the company's quarterly dividend of $0.47 per share. Abbott's cash dividend is payable Aug. 15, 2022, to shareholders of record at the close of business on July 15, 2022.
Abbott has increased its dividend payout for 50 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.
About Abbott:
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 113,000 colleagues serve people in more than 160 countries.
Connect with us at www.abbott.com, on LinkedIn at www.linkedin.com/company/abbott-/, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews.
Abbott will live-webcast its second-quarter earnings conference call through its Investor Relations website at www.abbottinvestor.com at 8 a.m. Central time today. An archived edition of the webcast will be available later in the day.
— Private Securities Litigation Reform Act of 1995 —
A Caution Concerning Forward-Looking Statements
Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A, "Risk Factors" in our Annual Report on Form 10-K for the year ended Dec. 31, 2021, and are incorporated herein by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
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The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc. | https://www.mysuncoast.com/prnewswire/2022/07/20/abbott-reports-second-quarter-2022-results-raises-full-year-eps-guidance/ | 2022-07-20T12:16:45Z |
Company rebrands to highlight Identity Security Leadership
CUMBERLAND, Md. , July 5, 2022 /PRNewswire/ -- Exclamation Labs, an industry leader in creating enterprise-level digital solutions in financial services for a quarter of a century, announced that it is launching a major rebranding to Provision IAM that delivers two key messages. First, this marks a celebration of the Company's growth and expansion over the past five years to becoming a leader in the Identity Access Management (IAM) field across community banks and credit unions. Secondly, the rebranding spotlights the Company's mission to champion and innovate SaaS solutions to fortify its leadership in Identity Security.
This rebrand ushers in a fundamentally new era for the company. Historically, the Company has delivered innovative solutions as a service via web application and software development. Today's rebranding signals a steadfast commitment to delivering equally innovative solutions as SaaS products built specifically to enable clients to manage the onboarding process themselves.
"Our new corporate brand fulfills our expanded vision to advance and innovate Identity Security solutions for financial institutions," said CEO Jonathan Hutcherson. "We look forward to sharing this vision and transforming it into deeper partnerships with institutions and Core Providers across the Financial Services sectors."
"Not only does changing our name to Provision IAM reinforce our core mission of delivering Identity Security excellence," continued Hutcherson, "but especially in the Software industry, there are significant synergistic advantages to be gained by matching corporate and product brand names."
Across the USA, including 11 different states, Provision has been embraced as a superior solution for enhancing security and increasing productivity. Provision IAM provides automated and centralized capabilities to manage internal access to critical systems. This is accomplished via custom connectors that integrate with commonly used financial software and core processing systems. Many institutions rely on Provision to ensure a constant state of compliance and cybersecurity.
About Provision IAM: Community banks and credit unions manage hundreds of systems with varying user access permissions that generally require manual updates when employees are hired, roles change, or access permissions evolve. The Provision Identity Access Management platform automates common tasks to improve employee productivity, ensure security, and reduce the time required for audit preparation. Provision is the only IAM tool designed specifically for the workflow of financial institutions, easing the burden of meeting ever-changing regulatory compliance requirements.
For information, visit www.ProvisionIAM.com.
Contact:
Fred Siegel
Provision IAM
fsiegel@provisioniam.com
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SOURCE Provision IAM | https://www.mysuncoast.com/prnewswire/2022/07/05/exclamation-labs-rebrands-provision-iam/ | 2022-07-05T17:58:26Z |
PITTSBURGH, April 27, 2022 /PRNewswire/ -- "I thought there should be a way for a firearm owner to pull a magazine from a holster using a natural swinging motion," said an inventor, from Mason, Mich., "so I invented the MAGMAX. My ergonomic design would allow the user to quickly and smoothly reload their weapon."
The patent-granted invention provides an improved magazine holder for a firearm. In doing so, it allows for quick access to ammunition and quick loading/reloading of a weapon per personal defense and competition scenarios. It also eliminates the need to pull the magazine upward and then turn it over. As a result, it saves time and effort and it is concealable. The invention features a durable and secure design that is easy to use so it is ideal for the owners of firearms, military, law enforcement personnel, etc. Additionally, a prototype is available.
The original design was submitted to the Bingham Farms sales office of InventHelp. It is currently available for licensing or sale to manufacturers or marketers. For more information, write Dept. 20-BPL-123, InventHelp, 217 Ninth Street, Pittsburgh, PA 15222, or call (412) 288-1300 ext. 1368. Learn more about InventHelp's Invention Submission Services at http://www.InventHelp.com.
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SOURCE InventHelp | https://www.kxii.com/prnewswire/2022/04/27/inventhelp-inventor-develops-modified-magazine-holder-firearms-bpl-123/ | 2022-04-27T14:55:50Z |
MSME can offer user-centric hyper-personalized recommendation service
SEOUL, South Korea, July 11, 2022 /PRNewswire/ -- According to Korea IT Times, Harex InfoTech, Inc. announced on the 10th that they attended the "2022 Spring Conference of Korea Management Information Society " held at Hanwha Resort Haeundae Tivoli in Busan from June 9 to 11 and announce the results of a "new B2B service using a user-centrichyper-personalized recommendation system" conducted with a research team led by Professor Kyoung Jun Lee from Kyung Hee University (Department of Big Data Application).
Professor Kyoung Jun Lee's research team (Professor YuJeongHwangbo, researcher Baek Jeong, Soohyun Kim, and Gunho Lee) and Harex InfoTech's User-CentricArtificial Intelligence Research Institute (Manager Youngjae Cho, Vice President Moonho Yang) proposed new B2B target marketing service and new product brainstorming using their own developed user-centric hyper-personalized recommendation system. The recommendation system is usually used in a B2C service that recommends products to users, but Harex InfoTech's recommendation system is a B2B service methodology that can be used in stores.
The research team utilizes a list of recommended products derived as a user-centrichyper-personalized recommendation system for the target marketing. The methodology is to make user lists by products after cross-linkingthe lists of the recommended products for each user by product, and finally, target marketing the listed users by products. This technology is currently under patent-pending.
For example, if 'Company B's Fried Chicken' is derived as a recommended value based on user A's purchase history, then company B can conducttarget marketinga fried chicken on user A. Existing target marketing was mainly conducted in groups based on demographic information such as women in their 20s and men in their 50s, but the research team's recommendation system allows hyper-personalized target marketing based on duality (pair or confrontational relationships).
For brainstorming of new product, the research team uses a user-centrichyper-personalized recommendation system that utilizes the product name in natural language. Since the AI learns by morpheme unit (separating 'Ham cheese toast' into 'ham/cheese/toast'), which is the minimum unit of the product's name meaning, it is possible to derive a product name that does not actually exist. Derived products that do not exist in reality may rather be more suitable for users. It is under patent to use this idea for the development of new products.
It is unique that this methodology uses morpheme units to study. For example, if a user purchased 'Chicken Breast Cream Spaghetti', 'Octopus Bibimbap', 'Stir-fried Spicy Pork', and 'Ham Cheese Toast', they would learn it in the form of 'Chicken Breast', 'Cream', 'Spaghetti', 'Octopus', 'Bibimbap', 'Stir-fried Pork', 'Rice', 'Ham Cheese', and 'Toast'. The derived value is also combined in morpheme units. Non-existing product names such as "Octopus Cream Spaghetti" and "Spicy Pork Toast" can be derived. The new product name derived in this way can be presented as a brainstorming idea for the development of new products.
Previous recommendation system research was used as a single service task called recommendation model, but Professor Lee's research team, through one recommendation system, utilize it as a multi-service task such as B2B service-based target marketing and new product development brainstorming as well as hyper-personalized B2C recommendation service.
Researcher Baek Jung said, "The large language model GPT-3 released by OpenAI has become the one service engine to utilize various application services such as Q&A, grammar correction, and chatbot, etc." and "We will develop various service tasks by utilizing the user-centric hyper-personalized recommendation system that has been developed as an AI engine and makeit to be used in the general commercial environment."
Professor Kyoung Jun Lee, who leads Harex Infotech's User-centricArtificial Intelligence Research Institute, presented under the theme of "Artificial Intelligence Sharing Platform as an Alternative to Exclusive Platforms" at the 2022 Spring Conference of Korea Management Information Systems. An artificial intelligence sharing platform based on User-CentricArtificial Intelligence is one of the alternatives against exclusive platforms from big tech or large companies.
Companies such as Big Tech monopolize data secured by customers, small business owners, individual businesses, and small and medium-sized enterprises. Professor Lee uses newly developed federated learning technology to pursue synergy in which customers and small and medium-sized businesses share artificial intelligence while keeping their data intact. Based on shared artificial intelligence, it presents a federated platform business model that provides and shares various services such as recommendation, target marketing, new product planning, and payment services.
Conventional federated learning is a form of sharing AI by creating a single model through individual companies' data, but the newly proposed federated learning method divides data from individual companies and creates a final AI sharing model. The new federated learning methodology has been patented
Professor Kyoung Jun Lee said, "The largest AI engine at each industry and level, including medical, commerce, transportation, finance, smart farms, manufacturing, robots, and smart cities, will be built by AI sharing methods," and "If we introduce this method, we can use each other's data without signing a data agreement between economic players, so we will make it possible of new cooperation and business models that were previously impossible between individuals, companies, and institutions."
Kyung Yang Park, Founder, President and Chief Vision Officer of Harex InfoTech Inc. said, "In the beginning, the business will start with a small size of AI sharing between several companies, but it will expand gradually," adding, "It will be an opportunity to change the business model and collaboration method completely, and furthermore, this system will be established as a sustainable way of business in the era of stakeholder capitalism."
Harex InfoTech announced the world's first mobile card payment service in Silicon Valley in 2000 and 2013 won the 'Best Technology Award' at the Innovation Project 2013 held by PYMNTS.com at Annenberg Hall on the Harvard University Campus, and is building the User-Centric Hyper-Connected Shared Network by sharing the platform with all businesses and based on the network created, is creating a user-centric new economic order that maximizes user benefits and business profits with hyper-personalized Digital Me services based on User-Centric AI sharing platform.
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SOURCE Korea IT Times | https://www.wibw.com/prnewswire/2022/07/11/korea-it-times-harex-infotech-announces-worlds-first-ai-sharing-platform-empower-all-business-entities/ | 2022-07-11T13:07:54Z |
Major advancement for resilient, clean electricity
MENLO PARK, Calif., June 22, 2022 /PRNewswire/ -- In an important breakthrough towards a resilient, zero-carbon electric grid, Mainspring Energy today announced that its Mainspring Linear Generator has passed key tests directly running 100% hydrogen and 100% ammonia fuels at high efficiencies. It is the first power generation technology to provide this level of fuel flexibility within a single product, significantly reducing customer investment risk in delivering resilient, clean, dispatchable, and low-cost electricity for both power grids and commercial and industrial uses.
In addition to hydrogen and ammonia, the Mainspring product runs on biogas, renewable natural gas, and other widely available gaseous fuels, and can switch between fuels automatically with software-based control. The technology has the potential to solve significant decarbonization challenges in meeting aggressive climate goals.
The scalability of the Mainspring product allows for use in behind-the-meter applications as well as in large grids, microgrids, data centers, and similar operations that require support for 24/7 clean power, clean backup generation, and clean firming capabilities. The products are in the field today powering the operations of Fortune 500 companies. Mainspring intends to deliver a model that is UL certified to directly run both hydrogen and ammonia, along with all other gaseous fuels, next year.
"Clean fuels are essential to decarbonizing the grid and supporting the rapid growth of solar and wind power. They provide all the advantages of fossil fuels - resilience, low-cost cross-seasonal storage, and ease of transport - without the carbon," said Shannon Miller, Mainspring CEO and founder. "We designed the fuel-flexible Linear Generator so that as clean fuels become increasingly available and cost-effective, organizations of all kinds can capitalize on them to run their operations, generate zero-carbon power, and meet their climate goals."
Dr. Michael Webber, the Josey Centennial Professor in Energy Resources at the University of Texas at Austin, said, "Fuels like zero-carbon hydrogen and zero-carbon ammonia have the potential to reshape the national energy landscape. Any device that could efficiently convert ammonia directly and cleanly to electricity would be a game-changer for the use of ammonia on the power grid to firm renewables, since it would avoid the energy loss associated with converting ammonia back to hydrogen to use as a fuel."
Policy makers around the world are moving to accelerate the development of clean fuels as a means of growing their economies and decarbonizing many sectors. The European Commission's 2020 Hydrogen Strategy calls for a $430 billion investment in green hydrogen by 2030. The U.S. Bipartisan Infrastructure Law passed in 2021 allocates $9.5 billion in clean hydrogen initiatives, and expert grid models such as the Net-Zero America Project include hydrogen as an important zero carbon fuel for generating clean, firm, power. In 2021, South Korea announced that hydrogen will become the country's largest single energy source by 2050, accounting for 33% of its total energy consumption.
Among the numerous applications for clean, firm, utility-scale power that a Mainspring Linear Generator running zero-carbon fuels can provide, an immediate high-potential application is displacing use of diesel generators for backup generation operations.
Diesel backup generators continue to be widely used at data centers, hospitals, and other operations that require backup power to operate during grid power outages. These diesel generators emit significant amounts of greenhouse gasses and harmful pollutants like soot that impact public health. A 2021 report by economic and policy consulting group M.Cubed found that California alone housed diesel backup generators with a capacity greater than 12 Gigawatts, about 15% of the state's entire electricity grid, with increasing deployments planned.
A Mainspring product running directly on 100% clean hydrogen or ammonia could replace a diesel backup generator with equal resilience at zero-carbon, while being available to also provide other benefits such as easy permitting, demand response, and wholesale market participation, since it has low emissions and can be permitted to run 24/7.
Well beyond backup power, the Mainspring product's fuel-flexibility and dispatchability - the ability to ramp up and down quickly and complement the inherent variability of solar and wind power - and easy siting and permitting (primarily driven by their ultra-low emissions and inverter-based interconnection) gives commercial, industrial, and utility customers alike unmatched adaptability in making investments and moving towards decarbonizing their operations. The products can run indefinitely when solar and wind power are in flux, low, or unavailable, making them ideal for firming renewables. In a zero-carbon power scenario, the 100% green hydrogen and ammonia fuels are produced using solar or wind power and stored in tanks until they are needed for power generation by linear generators whenever and wherever required.
Hydrogen, or H2, when produced from renewable sources, is particularly valuable from a climate change perspective due to its viability across a broad range of applications - power generation, heavy-duty transportation, heavy industry, chemicals, and other "hard-to-decarbonize" sectors. Since significant renewable penetration can mean curtailing, or "wasting" energy that's not used when generated, green hydrogen presents an important method to store and transport renewable energy for later use in other locations, including in the form of green ammonia, in effect becoming a transportable energy storage opportunity.
Ammonia, or NH3, is used widely in agriculture, with more than 150 million metric tons of ammonia produced globally each year. Though it is less well known as a fuel, it has high potential for power generation applications, such as replacing diesel backup generators, due to its higher energy density, existing global distribution network, ease of storage, and function as a hydrogen-carrier fuel. Liquid ammonia storage requires about 3x less volume than compressed hydrogen storage for the same amount of energy. It is easily piped, pumped, and stored at low pressure in inexpensive tanks. Also, ammonia has an abundant global supply chain and distribution infrastructure from its use as a fertilizer. Green ammonia is made from green hydrogen.
Both hydrogen and ammonia today are produced largely using traditional fossil fuel resources, but both also can be produced using 100% renewable resources such as solar and wind.
Driven by its vision of the low-cost, reliable, zero carbon grid of the future, Mainspring is delivering a breakthrough new category of power generation — the linear generator — to leading commercial, industrial, and utility customers to increase their energy resilience, generate cost savings, and meet their sustainability and climate goals. Customers include Fortune 500 companies like Kroger and Lineage Logistics, as well as utilities like PG&E, Florida Power and Light, and others. Based in Menlo Park, Calif., Mainspring is backed by top-tier investors. For more information on the company, technology, and products, please visit www.mainspringenergy.com.
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SOURCE Mainspring Energy, Inc. | https://www.mysuncoast.com/prnewswire/2022/06/22/breakthrough-clean-power-generation-mainspring-announces-worlds-first-generator-run-both-hydrogen-ammonia-fuels/ | 2022-06-22T15:25:33Z |
CHICAGO, July 5, 2022 /PRNewswire/ -- King & Spalding announced today that Danna Horton, a real estate lawyer with extensive experience serving the commercial real estate and financial services industries, has joined the firm as a partner in its Corporate, Finance and Investments (CFI) practice group. Horton is based in the firm's Chicago office.
Horton counsels lenders and borrowers in real estate finance transactions, including first mortgage loans, mezzanine loans, construction loans and loan sales. She also advises investors in real estate joint ventures, acquisitions, dispositions and long-term ground leases.
"Danna is an accomplished real estate finance lawyer with a strong client-service orientation and an extensive track record handling the types of sophisticated transactions that our clients consistently turn to us for," said Mark Thigpen, head of the firm's Real Estate team. "Welcoming her to our team adds critical bench strength to our transactional practice and is an exciting step in the ongoing expansion of our real estate footprint worldwide."
Horton was most recently a partner at Katten Muchin Rosenman in Chicago. She earned her J.D. from the University of Illinois College of Law, cum laude, and her undergraduate degree from Vanderbilt University, summa cum laude.
"Danna's real estate finance experience adds a new dimension to our Chicago transactional offering that will play an important role in our continued growth here," said Zach Fardon, managing partner of the firm's Chicago office. "She is a great fit for our Chicago team."
"I've been impressed by King & Spalding's strategic vision and the growth trajectory of the CFI team and Chicago office," said Horton. "The opportunity to expand my practice here and to contribute to the firm's overall growth is really compelling, and I'm very excited to dig in."
Celebrating more than 130 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 1,200 lawyers in 23 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality, and dedication to understanding the business and culture of its clients. More information is available at www.kslaw.com.
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SOURCE K&S | https://www.kxii.com/prnewswire/2022/07/05/real-estate-partner-danna-horton-joins-king-amp-spalding-chicago/ | 2022-07-05T16:09:37Z |
Temperatures dropped to 90s, but the humidity doubled!
A rise in the dew point temperature is making it feel hotter than Saturday.
The heat advisory has been lifted for Sunday, but it feels hotter than Saturday! Why is that?
The overnight cold front that moved through Texoma early Sunday added extra moisture to Saturday’s dry air. While this caused temperature to go down, the dew point temperature went up. That combination makes the humidity go way up! So even though most of Texoma’s temperatures are in the 90s, some counties it feels like it’s 105!
This is also why there is a chance for some pop up storms in Texoma. The areas that are really suffering from the high heat index values are also the areas that could see some isolated thunderstorms. Grayson, Fannin, Lamar, Choctaw and Pushmataha counties are more likely to see storms this evening and into the overnight. There is a 20% chance of scattered storms Monday morning across Texoma.
Good news is that humidity will begin to decrease due to the northeasterly and easterly wind patterns the next few days. Texoma still has a much cooler week ahead than what we’ve dealt with most of June.
Brady Blackstock
Weekend Meteorologist
News 12 / KXII-TV
Copyright 2021 KXII. All rights reserved. | https://www.kxii.com/2022/06/26/temperatures-dropped-90s-humidity-doubled/ | 2022-06-26T21:32:20Z |
Advisors Excel ready to expand services with new studio facility
TOPEKA, Kan. (WIBW) - A Topeka financial firm is poised to enhance their services thanks to a new film studio.
Advisors Excel is celebrating its new “AE Media Studios,” a brand new space equipped with high-quality cameras and sets.
According to Advisors Excel, Emmy-award winning Provost Studios designed the 8,200 sq. ft. broadcast facility for Advisors Excel to serve independent financial advisors with multiple large format video walls and display monitors. The company says it is ready to share their improved broadcast services with its clients nationwide.
“In terms of financial services, this broadcast facility stands head and shoulders above the rest. We’re so excited it’s right here in Topeka, Kansas,” Megan Mosack, Advisors Excel.
Advisors Excel also says that a new café with indoor and outdoor spaces was built as part of the new studio for visiting advisors and employees.
Copyright 2022 WIBW. All rights reserved. | https://www.wibw.com/2022/08/16/advisors-excel-ready-expand-services-with-new-studio-facility/ | 2022-08-16T23:43:38Z |
Biden says he’s considering a gasoline tax holiday
REHOBOTH BEACH, Del. (AP) — President Joe Biden said Monday that he’s considering a federal holiday on the gasoline tax, possibly saving Americans as much as 18.4 cents a gallon.
“Yes, I’m considering it,” Biden told reporters after taking a walk along the beach. “I hope to have a decision based on the data — I’m looking for by the end of the week.”
The administration is increasingly looking for ways to spare Americans from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February. Gas prices nationwide are averaging just under $5 a gallon, according to AAA.
The Biden administration has already released oil from the U.S. strategic reserve and increased ethanol blending for the summer, in additional to sending a letter last week to oil refiners urging them to increase their refining capacity. Yet those efforts have yet to reduce price pressures meaningfully, such that the administration is now considering a gas tax holiday. Taxes on gasoline and diesel fuel help to pay for highways.
The Penn Wharton Budget Model released estimates Wednesday showing that consumers saved at the pump because of gas tax holidays in Connecticut, Georgia and Maryland. The majority of the savings went to consumers, instead of service stations and others in the energy sector.
On Sunday in an interview on ABC’s “This Week,” Treasury Secretary Janet Yellen expressed an openness to a federal gas tax holiday to give motorists some relief.
Copyright 2022 The Associated Press. All rights reserved. | https://www.mysuncoast.com/2022/06/20/biden-decision-federal-gasoline-tax-holiday-could-come-by-end-week/ | 2022-06-20T16:43:16Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- EXCLUSIVE: In the latest episode of The Chris Cuomo Project, Alec Baldwin explains the circumstance that caused the prop gun to fire on the set of "Rust."
Alec Baldwin tells Chris Cuomo what led to the fatal prop gun shooting on the set of "Rust"
Watch/listen here: https://www.youtube.com/watch?v=9cPVVztp3fE
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SOURCE The Chris Cuomo Project | https://www.kxii.com/prnewswire/2022/08/16/alec-baldwin-tells-chris-cuomo-what-led-fatal-prop-gun-shooting-set-rust/ | 2022-08-16T12:32:42Z |
Senior mobile homes lose power during excessive heat conditions in California
Mission Hills, CALIF. (KCAL/KCBS) - A Southern California senior mobile home park has been without power since Thursday evening.
Some of its medically fragile residents mostly depend on oxygen and electric hospital beds.
“It’s terrible. The heat is just killing me,” Lisa DeHaven said, a resident.
The entire power is out at the Monterey Manor Mobile Home Park in Mission Hills.
“I don’t know what I am going to do. I feel terrible as is from the chemo and this is making it 10 times worse,” DeHaven said.
A neighbor, Keith Dehenry, has a wife who is also on oxygen and confined to a hospital bed.
He took matters into his own hands by going out and renting a generator from a friend. He also plugged in his neighbor’s mobile home.
“I am one of the lucky ones to have this generator, and I just worry about everyone else,” Dehenry said.
He attempted to get DeHaven full power, but her older home could only allow her to run a fan and her oxygen. Inside her place, it was approaching 90 degrees before noon.
“Like an oven, truly like an oven,” she said.
Her roommate used cold showers and frozen water bottles to stay cool.
“It’s unconscionable to make someone go through something like this,” Jack Taylor said, a resident.
A worker on the site says the outage was caused due to old equipment combusting.
Management on site said they are trying to bring in more generators, but there is no time frame for when the electricity will be back on.
“The mobiles are ours, but we rent the property, and naturally we pay our rent on time every month, but to get answers like this is just not fair to the people.”
The DWP says due to the failure on the part of the equipment the park maintains, there is not a lot it can do but is trying to secure a generator.
There is currently no timeline for when the power will be back on.
Copyright 2022 CNN Newsource. All rights reserved. | https://www.wibw.com/2022/09/03/senior-mobile-homes-lose-power-during-excessive-heat-conditions-california/ | 2022-09-03T06:19:02Z |
Missing 13-year-old girl found dead under ‘suspicious’ circumstances, police say
BEAVERTON, Ore. (KPTV/Gray News) – A missing 13-year-old girl was found dead under “suspicious” circumstances, the Beaverton Police said late Tuesday.
Beaverton police officers responded to the scene around 3 p.m. Tuesday. The body of Milana Li, 13, a sixth-grader, was found near the Westside Trail in Westside Linear Park, KPTV reported.
Police said Milana was last seen at her apartment around 4 p.m. Sunday evening. Milana’s mother reported her missing around 1:10 p.m. Monday, according to officers.
Aadil Mohamed saw police on scene early in the investigation
“I saw like a bevy of cops in a circle, seems like they were doing a search,” Mohamed said. “I was very surprised to see all the police here. I had to connect the dots. They were being very quiet about it all, but it was very surprising.”
Beaverton police detectives said they are investigating this case.
Copyright 2022 KPTV via Gray Media Group, Inc. All rights reserved. | https://www.mysuncoast.com/2022/05/11/missing-13-year-old-girl-found-dead-under-suspicious-circumstances-police-say/ | 2022-05-11T17:34:45Z |
SINGAPORE, Sept. 15, 2022 /PRNewswire/ -- In recent years, the cryptocurrency market has been especially prosperous with a series of cryptocurrency projects emerged, bringing rich investment opportunities and market risks to participants in the blockchain industry. KDA is also one of the emerging cryptocurrency projects, but unlike others, KDA is referred to as the next cryptocurrency project that can be benchmarked with BTC because of its simplicity and transaction cost-efficiency, better scalability than BTC, and the future circulation potential of 990 million tokens. With the joining of BITMAIN, the world's largest miner manufacturer, KDA may become a new opportunity for cryptocurrency investors.
HASHFROG, a diversified cryptocurrency investment platform, announced that it has reached a strategic cooperation with BITMAIN and ANTPOOL, and will jointly launch KDA cloud mining products to provide low-cost, flexible and efficient mining services for KDA participants around the world. On September 13, 2022, the three parties jointly held an online product launch and elaborated on the cooperation relationship as well as their expectations for the future of the KDA market. Representatives from Kadena development team and Kadena Mining Club community also participated in the press conference and expressed their interest and support.
It was introduced at the press conference that HASHFROG will adopt the ANTMINER KA3 (hereinafter referred to as KA3) that is newly developed by BITMAIN, with hashrate of 166 T and an energy efficiency ratio of 19 J / T, bringing KDA's mining efficiency into a new era of energy conservation and efficiency. KA3 adopts the latest design of BITMAIN's flagship product which is the 19 series miners and the leading air-cooled heat dissipation technology, so that miners can enjoy the top mining experience under Blake2s algorithm. Xmei Lin, the marketing director of BITMAIN, also announced at the press conference that BITMAIN would gift three KA3 miners to Kadena's development team to support the technical research of the development team. As a firm believer in the POW consensus mechanism, BITMAIN will continue to contribute to the POW ecology in the future and actively support the long-term development and ecological prosperity of outstanding POW projects such as Kadena.
ANTPOOL, the world's leading mining pool, sits at the crucial part of the mining industry chain providing pool services for a variety of cryptocurrencies. In this cooperation, ANTPOOL can provide HASHFROG with sufficient KDA mining pool resources and endorsement of security. So far ANTPOOL is the only mining pool that specialized in optimizing KDA's hashrate which allows KDA's high hashrate miner to give full play to its performance in the shortest possible time, technically guaranteeing the long-term stable operation of KDA miner, aiming at maximizing the mining revenue of customers. ANTPOOL has become the strongest guarantee for KDA's high-quality output by its advanced algorithm, simplicity, transparency, and efficiency of operation while reducing energy consumption at the same time.
As the platform providing KDA mining products in this cooperation, HASHFROG will divide the hashrate of KA3 miner exclusively supplied by BITMAIN into a minimum order size of 10t. Customers can flexibly choose the mining unit to purchase based on their own needs. Multiple mining cycle options such as 90 days, 120 days and 180 days are provided to improve the investment flexibility greatly. Management team from HASHFROG announced at the press conference that the platform will provide $1000000 worth of bonus benefits to users who purchase KDA mining products in this initial launch, and encourage users to actively engage in cloud mining. This large amount of welfare will further expand the return on mining output. HASHFROG, positioned as a diversified crypto service provider, will also launch mining services for a variety of cryptocurrencies in the future, with more crypto product launches planned on the platform around the end of October this year to provide investors with various asset allocation options.
HASHFROG is committed to build a safe and compliant blockchain infrastructure and produce innovative and diversified digital currency investment products. It is a one-stop platform that provides cloud mining service, extensive crypto-financial management, and flexible digital asset allocation solutions for global digital currency lovers. This strategic cooperation with BITMAIN and ANTPOOL on KDA marks that the three parties will deeply integrate miner, site and mining pool resources and continue to deepen and enrich ecological cooperation in mining as well as energy industry by increasing upstream and downstream value along the industry, and providing a solid guarantee for long-term investment of cryptocurrencies.
Official website: https://www.hashfrog.com/?utm_source=newswire&utm_campaign=oefjhu
Official group: https://t.me/hashfrog_EN
Twitter: https://twitter.com/HashFrogTech
Facebook: https://www.facebook.com/hashfrog
Media Contact: contact@hashfrog.com
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SOURCE Hashfrog | https://www.kxii.com/prnewswire/2022/09/16/cryptocurrency-investment-platform-hashfrog-partnered-with-bitmain-antpool-enter-kda-ecosystem/ | 2022-09-16T04:36:43Z |
From Keeping Cooking to a Minimum to Closing Curtains and Blinds During the Heat of the Day and More, These Tips Can Help Homes Stay Cooler During the Dog Days of Summer
MOORESVILLE, N.C., Aug. 16, 2022 /PRNewswire/ -- Brian Pysz, co-owner of the HVAC repair company Peace Heating and Air Conditioning, is pleased to share seven easy tips that can help people keep their homes cooler during the summer.
To read the new blog, which is titled "7 Ways to Cool Down a Hot Room," in its entirety, please visit https://peaceheatingandairconditioning.com/2022/08/03/7-ways-to-cool-down-a-hot-room/.
As Pysz noted, the timing for these tips could not be better; summer is in full swing around the country, and homeowners are looking for simple things they can do to cool their house and reduce their reliance on their HVAC.
First, the blog noted, people should consider using their outdoor BBQ for cooking their meals or sticking with cold sandwiches and salads, rather than heating up the oven, stovetop or even microwave.
Also, because clothes dryers are notorious for being one of the most heat-intensive appliances in the home, people should consider line-drying their clothes and linens in the warm summer air.
"This will save you money on your power bill during the hot summer months and prevent your dryer from heating up the house," the blog noted, adding that if people really prefer to use their dryer, they should try to do so after sundown with the home's windows open and fans set up to help circulate the air inside.
Keeping curtains and blinds closed, as well as purchasing heavy-duty blackout drapes, is also an effective way to keep a home cooler when the mercury is rising during the summer months.
About Peace Heating and Air Conditioning:
At Peace Heating And Air Conditioning, they are proud to be the local heating and AC & Heat Service experts, and they have the tools and expertise to install, repair and maintain all the climate control systems people need to breathe easily. Their highly qualified technicians provide only the best service, and they always work with each family's needs and long-term comfort in mind. For more information, please visit https://peaceheatingandairconditioning.com/
Peace Heating And Air Conditioning
131 Overhill Dr #110,
Mooresville, NC 28117
(704) 746-9723
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SOURCE Peace Heating And Air Conditioning | https://www.mysuncoast.com/prnewswire/2022/08/16/hvac-repair-company-peace-heating-air-conditioning-lists-7-ways-cool-down-hot-room/ | 2022-08-16T19:37:19Z |
NEW YORK, July 21, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for NIO, PLUG, LCID, TWTR, and SBUX.
To see how InvestorsObserver's proprietary scoring system rates these stocks, view the InvestorsObserver's PriceWatch Alert by selecting the corresponding link.
- NIO: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=NIO&prnumber=072120225
- PLUG: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=PLUG&prnumber=072120225
- LCID: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=LCID&prnumber=072120225
- TWTR: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=TWTR&prnumber=072120225
- SBUX: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?symbol=SBUX&prnumber=072120225
(Note: You may have to copy this link into your browser then press the [ENTER] key.)
InvestorsObserver's PriceWatch Alerts are based on our proprietary scoring methodology. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Each of those scores is then combined into an overall score that determines a stock's overall suitability for investment.
InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street. We have a wide range of tools to help investors make smarter decisions when investing in stocks or options.
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SOURCE InvestorsObserver | https://www.wibw.com/prnewswire/2022/07/21/thinking-about-buying-stock-nio-plug-power-lucid-group-twitter-or-starbucks/ | 2022-07-21T16:00:12Z |
New series and feature films span the globe with titles from France, Wales, Iceland, Italy, Germany and MHz Choice's first series from Japan.
WASHINGTON, Aug. 10, 2022 /PRNewswire/ -- MHz Choice has upped the ante this fall with a powerhouse slate of programming aimed at delighting TV connoisseurs with the best series the world has to offer. Leading the way this September is Paris Police 1900 (Studio Canal), an eight-part historical French crime drama set in Paris at the turn of the 20th century during the tumultuous time of the Dreyfus Affair. The growing antisemitism in France in this period is woven into the backdrop of a police investigation into the murder of an unknown woman found in a suitcase floating in the Seine. The young and ambitious Inspector Antoine Jouin (Jérémie Lahuerta) ends up investigating more than a murder as he uncovers state secrets and corruption. Jouin's dramatic pursuit of justice is peppered with depictions of real events and historical figures set against the opulence of La Belle Epoque.
Fast forwarding in time from the early 1900s to the 1970s and '80s, MHz Choice premieres a pair of retro French comedies replete with floppy hair, aviator sunglasses and computers that come in sizes big and bigger. Debuting this September, UFOs (Studio Canal) is set in 1978 and starts with a literal bang as space engineer Didier Mathure (Melvil Poupaud) watches helplessly as his expensive government funded rocket explodes on takeoff. The launch debacle pushes Didier's career to the edge of a cliff, but he is given one last chance to make his way back into the good graces of the national space program as the head of an eccentric research group tasked with finding scientific explanations for all UFO sightings! Didier's disdain for his new role only sharpens his scientific approach, and the facts lead him and the show into the realm of an unexpected government conspiracy thriller with quirky characters and even quirkier comic edges.
Later this fall (November) is Cheeky Business (Mediawan), set in the Parisian suburbs in the early 1980s, is a fictional tale of the invention of the first adult messaging service using the Minitel - a videotext online service accessible through telephone lines in France. In the space of ten half-hour episodes, three unlikely friends and college students stumble upon the idea to pose as women who exchange erotic messages with men over the Minitel network for a fee. Simon (Arthur Mazet) is the quintessential nerd who manages to tap into the potential of a nationwide messaging network, Stéphanie (Noémie Schmidt) is a budding entrepreneur in desperate need of tuition cash and Toni (Paul Scarfoglio) is bold enough to get the whole thing started. Pimps and prostitutes also get involved as the business goes national, right under the noses of Simon's seemingly traditional parents - whose attic becomes the business' unofficial headquarters for a while. Friendship, rivalry, sex, and false appearances are the early hallmarks of what becomes the internet age, and all hilariously collide in this funny and addictive series.
Rounding out September are two new dramas from Italy and Wales. Based on the novels by Massimo Carlotto, The Alligator (Rai Com) is a modern Italian Noir that begins with Marco Buratti (Matteo Martani) being released from prison after seven years for crimes he didn't commit. A former blues singer, Marco's time in prison gave him a newfound passion for justice. Now on the outside, Marco embarks on a career as a private eye, using his hard-earned skills and underworld connections to good advantage.
New from Wales, Fflam (Videoplugger) stars Gwyneth Keyworth (Hidden, Black Mirror, The Crown, Game of Thrones) as Noni, a young woman with a tragic past who is preparing to move into her dream home with her loving partner. A chance encounter with a man she believes to be Tim, her late husband who was killed in a fire, risks destroying the new life she's worked so hard to build. As a central figure, Noni is not a quintessential victim of her past or a passive bystander to the events around her. Gwyneth Keyworth describes her complexity as a reason she enjoyed playing Noni. "Yes, she is brave, stubborn and does what she wants, but people still take advantage. She's not completely innocent either." The central mystery of Noni's sighting plays out over six half-hour episodes.
Moving well beyond the pre-internet era to the present day are two new series which explore modern friendship and connection. Premiering this October and the first series from Japan to appear on MHz Choice, Pension Metsä (Videoplugger) takes place in and around a one-room guest house nestled in the Nagano larch forest. The guest house is owned by Tenko (Satomi Kobayashi), who finds herself in deep conversations with her visitors who are often lost or at a key turning point in their lives. It may seem like the guests are the ones learning new things about themselves, but in the end it's Tenko who finds a fresh direction in life. Each 30-minute episode features a single guest star, including an appearance in Episode 6 by actress Tôko Miura, who played the young chauffeur Misaki in the Oscar-winning feature Drive My Car.
The fast-paced comedy series Ordinary People (REinvent Studios) hails from Iceland and centers around the friendship of Vala (Vala Kristin Eiriksdottir) and Júlíana (Júlíana Sara Gunnarsdóttir). Best friends since drama school, Vala and Júlíana have taken different paths in life with Vala in unsuccessful pursuit of an acting career while Júlíana has stepped away from acting to have two children with her husband Tómas (Halldór Halldórsson). Decidedly in the "Me Too" era, Vala has a disastrous encounter with studio bros who are looking to paper over their past reputations with a female-lead production. They end up inviting both Vala and her "funny friend" Júlíana to host their own TV show. Rather than co-hosting a talk show, Vala ends up relegated to a sidekick character. Everything is tested – friendship, marriage, motherhood, ambition – as success is unevenly distributed between the two friends.
Full Fall Schedule available here:
https://mhzchoice.com/mhz-choice-announces-ambitious-fall-2022-lineup/
MHz Networks offers viewers in the U.S. and Canada access to a library of the best television mysteries, dramas, comedies and documentaries subtitled in English through its subscription streaming service, MHz Choice. Select MHz Networks content is also available on DVD and on its free ad-supported service MHz Now, available on Samsung TV Plus and Plex. New MHz Choice customers receive a free 7-Day Trial. For more information, go to mhzchoice.com.
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SOURCE MHz Networks | https://www.wibw.com/prnewswire/2022/08/10/mhz-choice-announces-ambitious-fall-lineup-led-by-sweeping-period-drama-paris-police-1900/ | 2022-08-10T17:52:55Z |
FLANIGAN'S REPORTS EARNINGS
Published: May. 31, 2022 at 11:28 AM EDT|Updated: 1 hour ago
FORT LAUDERDALE, Fla., May 31, 2022 /PRNewswire/ -- FLANIGAN'S ENTERPRISES, INC., (NYSE AMERICAN: BDL) owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's" retail liquor stores, today announced results for the 13 weeks and the 26 weeks ended April 2, 2022. The table below sets forth the results on a comparative basis with the 13 weeks and 26 weeks ended April 3, 2021.
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SOURCE FLANIGAN'S ENTERPRISES, INC.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc. | https://www.mysuncoast.com/prnewswire/2022/05/31/flanigans-reports-earnings/ | 2022-05-31T16:43:14Z |
NEW YORK, June 28, 2022 /PRNewswire/ -- The National Advertising Division (NAD) of BBB National Programs closed two Fast-Track SWIFT cases in May 2022. In these cases:
- AT&T Services, Inc. challenged Charter Communications, Inc.'s (Spectrum) claim that AT&T's internet service, without distinction between cable/copper or fiber services, provides unreliable and glitchy internet connectivity, to a consumer-noticeable degree for the activities depicted in the commercial.
- T-Mobile Puerto Rico, LLC challenged disclosures made by Liberty Mobile Puerto Rico Inc. in connection with certain wireless network performance claims.
Fast-Track SWIFT is an expedited NAD challenge process designed for single-issue advertising cases.
AT&T challenged a claim made by Spectrum in a television commercial titled "The Choice for Gamers Ad." The commercial depicts, in writing, voiceovers, and visually, that Spectrum is the "winner" in providing internet service that is reliable and free from glitches as compared broadly to "telephone internet companies," without elaboration, limitation, or qualification.
Spectrum objected to NAD's consideration of AT&T's challenge based on its contentions that the claim that AT&T challenged is not expressly stated in the commercial and the evidence of what quality of service AT&T offers across its footprint is complex. Charter also asserted that it permanently discontinued the challenged commercial before it learned of AT&T's challenge and therefore declined to submit evidence in support of the challenged claim. NAD determined that it had jurisdiction over the challenge because Charter's commercial continued to air through the date of the complaint and the challenge was appropriate for Fast Track SWIFT because it presented a single express claim that does not require review of complex evidence.
Because Spectrum provided no evidence to support its superior performance claim, NAD recommended that the advertiser discontinue the claim that AT&T's internet service, without distinction between cable/copper or fiber services, provides unreliable and glitchy internet connectivity to a consumer-noticeable degree for the activities depicted in the commercial.
In its advertiser statement, Spectrum stated that it "is disappointed with NAD's decision to accept this challenge for Fast-Track review" for several reasons but noted that it "remains a strong supporter of self-regulation and will take NAD's recommendations into account in formulating its future advertising."
T-Mobile Puerto Rico challenged as insufficient the "material connection" disclosures made by Liberty Mobile Puerto Rico in connection with claims that Liberty's wireless service has the "best network" and the "best coverage" based on testing from Global Wireless Solutions (GWS).
NAD noted that GWS conducted testing as a paid non-exclusive service to Liberty. Although there is nothing unusual about the relationship between GWS and Liberty, NAD determined that consumers should be made aware of that relationship through a clear and conspicuous disclosure as it may affect the credibility and weight consumers give to the claim if they are aware that Liberty paid GWS for the study. Therefore, NAD recommended that Liberty clearly and conspicuously disclose that Liberty paid GWS for the study which is the source of its wireless network performance claims.
NAD noted that during the challenge, Liberty voluntarily permanently discontinued its description of the GWS testing to support its network performance claims as an "independent study." Liberty's discontinuation of this claim will be treated by NAD for compliance purposes as if NAD recommended its discontinuance. In addition, Liberty began to use the language "Study conducted by GWS paid for by Liberty," which is clear and easily understood, effectively describing the source of the claims.
NAD examined the challenged advertising in its various forms to assess the prominence and sufficiency of Liberty's disclosures. Based on its review, NAD recommended that the disclosure be more prominently located, at or near the very start of the text so that consumers do not read past the essential language. NAD also recommended that Liberty use some mechanism to direct consumers' attention to the disclosure and ensure that the font size of the disclosure is readable in all versions of the advertising.
NAD determined that the challenged advertising was appropriate for Fast-Track SWIFT because the challenge presented the single issue of whether the advertiser's disclosures in connection with its wireless performance claims adequately disclose the connection between GWS and Liberty. NAD also determined that although the ads in question were in Spanish, they did not present any significant or unique linguistic concerns that would prevent NAD's analysis as NAD has analyzed claims made in Spanish-language advertising on several other occasions.
In its advertiser statement, Liberty stated that it "agrees to comply with NAD's recommendations" and that it "appreciates NAD's guidance regarding the types of disclosures it shall make when making network performance claims based on testing completed by a third-party but paid for by the company."
Advertisers are encouraged to learn more about the NAD Fast-Track SWIFT challenge process and how to file a challenge. All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive.
About BBB National Programs: BBB National Programs is where businesses turn to enhance consumer trust and consumers are heard. The non-profit organization creates a fairer playing field for businesses and a better experience for consumers through the development and delivery of effective third-party accountability and dispute resolution programs. Embracing its role as an independent organization since the restructuring of the Council of Better Business Bureaus in June 2019, BBB National Programs today oversees more than a dozen leading national industry self-regulation programs, and continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-directed marketing, and privacy. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division (NAD), a division of BBB National Programs, provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
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SOURCE BBB National Programs | https://www.kxii.com/prnewswire/2022/06/28/two-fast-track-swift-cases-national-advertising-division-recommends-advertiser-claims-be-discontinued-one-modification-disclosures-other/ | 2022-06-28T13:35:32Z |
DENVER (AP) — Nikola Jokic plays for Denver. And for Serbia.
Both places can once again make the same claim: For the second consecutive season, they’re home to the NBA’s Most Valuable Player.
The league announced Wednesday night that Jokic won back-to-back MVP awards. The Nuggets’ big man is the second consecutive international player to win two in a row, after Milwaukee’s Giannis Antetokounmpo — from Greece — was honored in 2019 and 2020.
This marks the first time international players have won the award in four consecutive seasons. Canada’s Steve Nash went back-to-back for Phoenix in 2005 and 2006, followed by Germany’s Dirk Nowitzki for Dallas in 2007.
International players finished 1-2-3. Jokic got 65 first-place votes and 875 points from the panel of writers and broadcasters. Philadelphia’s Joel Embiid was second with 26 first-place votes and 706 points; Antetokounmpo was third, with nine first-place votes and 595 points. Devin Booker of Phoenix wound up fourth.
“I don’t know what else you can say about Nikola at this point,” Nuggets coach Michael Malone said in a statement. “He’s consistently improved his game, he’s consistently proven people wrong when they doubt him and he’s consistently the best player on the floor night in and night out.”
The 27-year-old Jokic averaged 27.1 points, 13.8 rebounds and 7.9 assists on a team that was missing two max players in Jamal Murray (ACL) and Michael Porter Jr. (back) and won 48 games. The do-it-all center nicknamed “Joker” created a new category, too, in becoming the first NBA player to eclipse 2,000 points, 1,000 rebounds and 500 assists in a season.
He’s now a member of another rare club — the 13th player to win back-to-back NBA MVP awards. He joined the likes of Antetokounmpo, Stephen Curry, LeBron James (twice), Nash, Tim Duncan, Michael Jordan, Magic Johnson, Moses Malone and Kareem Abdul-Jabbar (twice). Larry Bird, Wilt Chamberlain and Bill Russell each won the award in three straight seasons.
Jokic was caught by surprise, too, as he rode in behind his horse on a two-wheeled cart at his stable in Serbia. Malone was waiting to hug him. Same with president of basketball operations Tim Connelly.
“It was a real emotional moment for me,” Jokic said in an interview on the TNT broadcast. “Amazing.”
Jokic was taken by the Nuggets with the 41st pick in the 2014 draft. His selection that day flashed across the bottom of the television screen during a Taco Bell commercial.
He’s come a long way. He’s eligible for a supermax extension that could guarantee him nearly $254 million over five seasons starting with 2023-24.
This will all dawn on him — down the road.
“Probably when I’m old, fat and grumpy, hopefully I’m going to remember and I’m going tell my kids, ‘Back in the days I was really good playing basketball,’” Jokic said.
James extended his record, too — 19 years in the league, 19 years of getting at least one vote in the MVP balloting (a fifth-place vote). Nobody has gotten votes in more seasons, or obviously, in more consecutive seasons than James.
Despite their disastrous season — the Los Angeles Lakers didn’t even make the play-in tournament — James’ numbers remained among the league’s best. The 37-year-old averaged 30.3 points, 8.2 rebounds and 6.2 assists per game, moving past Karl Malone for No. 2 on the all-time scoring list and into position to pass Abdul-Jabbar as the league’s all-time leader late next season.
James has seen the game change during his 19 seasons. He was part of the last USA Basketball team that didn’t win Olympic gold — the squad that went to Athens in 2004 — and even was convinced then that the game was only getting stronger around the world.
Jokic is further proof of that happening.
He’s not demonstrating it by himself, either. Antetokounmpo and Embiid have more than done their part. Dallas’ Luka Doncic (fifth in the MVP vote) is already a EuroLeague champion and certainly seems like he’ll win at least one NBA MVP award before he’s done.
They are the new class of international greats, following in the footsteps of Nowitzki, Hakeem Olajuwon, Tony Parker, Manu Ginobili, Pau and Marc Gasol, Yao Ming and others. The debate will rage about which international player — either now or all-time — is the best, but Antetokounmpo (two MVP’s and a championship) and now Jokic (two MVP’s after being a second-round pick) have surely entered the chat.
Canada got a championship in 2019 when the Toronto Raptors won the NBA title. That night, the Canadian flag was soaked in champagne, Pascal Siakam danced with the flag of Cameroon around his shoulders, team President Masai Ujiri did interviews with a Nigerian scarf around his neck, and they were only a few of the Raptors with deep international ties.
It’s not inconceivable that five international players could be lottery picks in next month’s draft. And there’s hardly anyone who doesn’t see France’s Victor Wembanyama — a 7-foot-2 player with guard skills — as the certain No. 1 pick in the 2023 draft right now.
Those newcomers will want to be like Jokic. They’ll want to be the MVP, and he’s just the latest name to show those kids from around the world that it’s possible.
“If it’s not me, who is it?” Jokic responded when asked if he considered himself the longest of long shots. “There’s no way that I would come to the NBA and play basketball from this city and from this stable, basically. Now I’m playing basketball in the best league in the world and playing at a high level.”
___
AP Basketball Writer Tim Reynolds contributed to this report.
___
More AP NBA: https://apnews.com/hub/nba and https://twitter.com/AP_Sports | https://cw33.com/sports/ap-sports/nikola-jokic-captures-2nd-straight-nba-mvp-title/ | 2022-05-12T21:19:28Z |
Johansen’s 1st hat trick puts Predators over Wild 6-2
JIM DIAMOND
Associated Press
NASHVILLE, Tenn. (AP) — Ryan Johansen’s first career hat trick led the Nashville Predators to a 6-2 victory over the Minnesota Wild. Roman Josi and Philip Tomasino had a goal and two assists, Matt Duchene had a goal and an assist and Juuse Saros made 47 saves for Nashville. Filip Forsberg had three assists and Mattias Ekholm added two. Mats Zuccarello and Kirill Kaprizov each had a goal and an assist for Minnesota. Marc-Andre Fleury made 27 saves. | https://localnews8.com/sports/ap-national-sports/2022/04/05/johansens-1st-hat-trick-puts-predators-over-wild-6-2/ | 2022-04-06T04:19:04Z |
KNOXVILLE, Tenn., Sept. 1, 2022 /PRNewswire/ -- PYA, a national accounting and management consulting firm, is ranked 18th among the largest healthcare management consulting firms as recently reported by Modern Healthcare. Among privately held firms, PYA ranks in the Top 10 nationwide.
Since 2006, Modern Healthcare, a leading provider of healthcare business and policy news, has published healthcare consulting firm rankings. PYA has consistently ranked in the Top 25 every year since.
"Our team of thought leaders at PYA strives to stay on top of the latest rules and trending regulations in healthcare," said PYA President and CEO Marty Brown. "That spirit of learning helps not only our clients, but other providers in the industry and is the embodiment of PYA's spirit to serve."
Earlier this year, PYA was named a Top 100 Firm by Inside Public Accounting. It was only one of two accounting firms headquartered in East Tennessee to make the list, and the only ranked firm headquartered in the Knoxville metropolitan area. In addition, PYA previously was ranked 3rd highest percentage female ownership among the Top 100 Firms by Inside Public Accounting. PYA was named one of America's Best Tax and Accounting Firms of 2022 in the Forbes annual list. Accounting Today also named PYA a Top 100 Firm in the nation and Top 20 in the Southeast region, and the second largest headquartered in Tennessee. Among firms with revenues of $100 million or less, PYA's consulting/business advisory services revenues are some of the highest in the nation. And for a fourth year, PYA has also earned the distinction of "Top Workplace" from the Knoxville News Sentinel.
For nearly 40 years, PYA, a national healthcare consulting firm, has helped clients navigate and derive value amid complex challenges related to regulatory compliance, mergers and acquisitions, governance, business valuations and fair market value assessments, multi-unit business and clinical integrations, best practices, tax and assurance, business analysis, and operations optimization.
PYA's steadfast commitment to an unwavering client-centric culture has served the firm's clients well. Our firm's affiliated companies offer clients world-class data analytics; professional real estate development and advisory resources for healthcare providers; and wealth management and retirement plan administration.
PYA is an independently owned consulting and accounting firm and is a member of HLB, the global advisory and accounting network.
PYA assists clients in all 50 states from offices in Atlanta, Helena, Kansas City, Knoxville, Nashville, and Tampa. For more information, please visit pyapc.com.
PYA
One Cherokee Mills
2220 Sutherland Ave.
Knoxville, TN 37919
865-673-0844
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SOURCE PYA | https://www.kxii.com/prnewswire/2022/09/01/pya-ranks-among-nations-top-25-healthcare-consulting-firms-16th-year/ | 2022-09-01T17:11:39Z |
MONTRÉAL, May 2, 2022 /PRNewswire/ - Optimum Financial Group unveiled a solid financial performance at the Optimum Group Inc.'s annual shareholders' meeting on April 29, 2022.
For the third consecutive year, the Group achieves revenues over one billion Canadian dollars. For the past financial year, the return on equity reaches nearly 12.5%. Also worth noting, net premiums have increased by 17%.
Furthermore, assets under management in Canada, in the United States and in France totalize nearly 8.5 billion Canadian dollars to December 31, 2021.
Despite the negative impacts of the pandemic on mortality, the life insurance and reinsurance sector nevertheless stands out with very good results and a notable growth in net premiums, while the general insurance sector continues to generate excellent underwriting results.
"Our performance indicators are very positive and reflect the rigorous work of our teams of experts dedicated to successfully ensuring the financial security of our clients and partners in an unprecedented context combining the extended pandemic with historically low interest rates", comments Anabelle Blondeau, Vice Chair of the Board and President and Chief Executive Officer, Optimum Group Inc.
"We are pursuing and intensifying our research and development work to materialise innovative IT projects, notably in actuarial technique and in medical underwriting, with the perspective of continuously improving our agility. We remain attentive to the evolving needs of our clients and partners, and are committed to the fulfillment and well-being of our employees." she adds.
Optimum Financial Group has also bestowed the 2021 Optimum Enterprise Award to two ex-aequo winning companies: Optimum Reassurance Inc. for its volume increase in net premiums and its improved return on equity, as well as Optimum Vie S.A. for the increase of its business volume and its very good financial results. This annual award recognizes the exceptional contribution of a subsidiary to the Group's overall performance.
Optimum Financial Group is dedicated to the financial security of its clients since over 50 years. Global and privately-owned, it is diversified in the sectors of actuarial consulting, asset management, general insurance, information technology, life insurance, life reinsurance, and real estate. The Group has over 620 employees in subsidiaries operating mainly across Canada, the United States and in France. Its revenues reach nearly 1.1 billion Canadian dollars, and its total assets rise up to 6 billion Canadian dollars. www.financialoptimum.com
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SOURCE Groupe Optimum inc. | https://www.mysuncoast.com/prnewswire/2022/05/02/optimum-financial-group-unveils-solid-financial-performance-2021/ | 2022-05-03T00:48:55Z |
Groundbreaking ABM and offline marketing engagement collaboration helps B2B marketers create more relevant and better-timed account engagement
SAN FRANCISCO, Aug. 18, 2022 /PRNewswire/ -- Account-based marketing platform RollWorks, a division of NextRoll, today teamed up with Postal.io, the leading offline marketing engagement platform, to help B2B organizations create automated offline campaigns that engage the right accounts and contacts at the right time in the buying journey to achieve a fully integrated, truly omni-channel ABM strategy.
The new RollWorks and Postal partnership marks Postal's first workflow collaboration with an ABM company and is made possible by connecting data in Hubspot. "Postal's offline engagement platform optimizes omni-channel campaigns at scale," said Mike Stocker, VP of Partnerships at RollWorks. "Together, and through a HubSpot connection, RollWorks and Postal help marketers ensure that these sending and gifting campaigns are data driven and result in better conversions."
As businesses are increasingly adding offline engagement into all marketing, sales, and human resource playbooks, the $120B direct mail, personalized incentive, and branded swag industry is burgeoning. Postal's integrated offline marketing platform helps organizations of all sizes manage their offline channels to increase sales velocity and employee engagement, and drive brand loyalty. Now, RollWorks and Postal customers can:
- Initiate a Postal gift when an account is spiking
- Trigger direct mail when an account shows intent or progresses in the buying journey
- Automate gift sending to key stakeholders when target accounts reach certain engagement thresholds, such as number of impressions, ad clicks, or page views
"The increased demand of Offline Marketing Engagement is a testament to a change in the way companies are engaging with prospects, customers, and employees," said Erik Kostelnik, CEO of Postal.io. "Through the power of Postal and RollWorks, when you can orchestrate digital ABM programs with offline, your programs no longer have to be siloed and episodic. They are systematic, which ultimately drives efficiency and better outcomes."
In June, RollWorks announced Sales Insights for HubSpot, an ABM tool that provides a 360-degree view of accounts throughout the buying journey to help B2B marketers drive more timely and efficient sales outreach. One unique feature of Sales Insights for HubSpot is Account Spike, which uses a data science model to flag accounts spiking in engagement compared to that account's engagement baseline. By uncovering these account engagement signals with a company's website and ads, sales and marketing teams can activate gifting campaigns based on account engagement activity.
Head to RollWorks' website to learn more about the RollWorks and Postal.io integration and how you can create automated offline campaigns at scale.
RSVP for RollWorks and Postal.io's Rock N Bowl Event at HubSpot INBOUND 2022, Wednesday, September 7, from 6:30 - 9:30 pm ET. And check out the complete list of RollWorks events at HubSpot INBOUND activities here.
RollWorks, a division of NextRoll, offers ambitious B2B companies an account-based platform to align their marketing and sales teams and confidently grow revenue. Powered by proprietary data and machine learning, RollWorks' solutions address the needs of organizations large and small — from those with best-in-class ABM programs to those just beginning their exploration. By empowering teams to identify their target accounts and key buyers, reach those accounts across multiple channels, and measure program effectiveness in their system-of-record, RollWorks is an indispensable platform for marketers and sellers who believe that an account-based approach is just good business. To learn more visit www.rollworks.com or follow us on LinkedIn or Twitter.
Postal is the leading Offline Marketing Automation Platform that creates memorable moments for organizations to generate leads, increase sales velocity, and retain happy customers. With the largest marketplace of direct mail, e-gift cards, personalized gifts, custom swag, and virtual events, Postal customers see significant time and cost savings when leveraging the automated system. Postal, a venture-backed startup, is integrated with all major sales and marketing technology and led by a nationally recognized founding team with multiple successful $mm exits. Postal is made with love in San Luis Obispo, CA and is focused on taking care of employees, customers, and partners.
Melissa Rossiter
press@rollworks.com
480.749.4324
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SOURCE RollWorks | https://www.mysuncoast.com/prnewswire/2022/08/18/rollworks-expands-tech-partner-ecosystem-with-new-postalio-partnership/ | 2022-08-18T15:47:09Z |
LAVAL, QC, June 9, 2022 /PRNewswire/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, announced today, further to its news release on June 8, 2022, the completion of the Company's proposed consolidation of its common shares (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every thirty-five (35) pre-consolidation Common Shares (the "Consolidation").
It is anticipated that the post-Consolidation Common Shares will commence trading on the NASDAQ and the TSX at the market open on or about June 13, 2022. The Company's name and trading symbol remain unchanged on the NASDAQ and the TSX as a consequence of the Consolidation. The new CUSIP and ISIN numbers for the consolidated Common Shares are 64079L204 and CA64079L2049, respectively.
The Consolidation will reduce the number of Common Shares issued and outstanding from approximately 198 million Common Shares to approximately 5.7 million Common Shares. No fractional Common Shares will be issued in connection with the Consolidation. Each fractional Common Share remaining after completion of the Consolidation that is less than one (1) whole of a Common Share will be increased to one (1) whole Common Share.
The Company's transfer agent, Computershare Investor Services Inc., acting as the exchange agent for the Consolidation, has mailed to all registered holders of Common Shares (the "Registered Holders") a letter of transmittal (the "Letter of Transmittal") that may be used by such Registered Holders to exchange their pre-Consolidation Common Share certificates for certificates in the capital of the Company representing the consolidated number of Common Shares. A copy of the Letter of Transmittal is available on the Company's issuer profile on SEDAR at www.sedar.com.
Non-registered or beneficial holders holding their Common Shares through a bank, broker or other nominee do not need to complete a Letter of Transmittal and should note that such banks, brokers or other nominees may have specific procedures for processing the Consolidation. Shareholders holding their Common Shares with such a bank, broker or nominee and who have any questions in this regard are encouraged to contact their nominee.
Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.
Statements in this news release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of applicable securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Neptune to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "projects", "anticipates", "will", "should" or "plans" to be uncertain and forward-looking. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, statements with respect to the completion of the Consolidation, including the timing of commencement of trading of the post-Consolidation Common Shares. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement and the "Cautionary Note Regarding Forward-Looking Information" section contained in Neptune's latest Annual Information Form, which also forms part of Neptune's latest annual report on Form 40-F, and which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml. All forward-looking statements in this news release are made as of the date of this news release. Neptune does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Headquartered in Laval, Quebec, Neptune is a diversified health and wellness company with a mission to redefine health and wellness. Neptune is focused on building a portfolio of high quality, affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands. The Company utilizes a highly flexible, cost-efficient manufacturing and supply chain infrastructure that can be scaled to quickly adapt to consumer demand and bring new products to market through its mass retail partners and e-commerce channels. For additional information, please visit: https://neptunewellness.com/.
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SOURCE Neptune Wellness Solutions Inc. | https://www.kxii.com/prnewswire/2022/06/09/neptune-wellness-solutions-inc-completes-share-consolidation/ | 2022-06-09T12:32:44Z |
- Backed by Founders Fund, finance automation platform Ramp, and other notable tech heavyweights, Tactic is building a crypto accounting platform to save businesses time and gain deeper insight into their crypto activity
- Provides one of the first solutions for enterprises' crypto and DeFi accounting needs that works with traditional software like QuickBooks
- Investment will be used for hiring and support for additional blockchains
- Rapidly adding customers spanning early stage startups to billion-dollar enterprises
NEW YORK, May 4, 2022 /PRNewswire/ -- Tactic (http://www.tactic.com), the crypto accounting platform that's built to save businesses time, launched publicly today and announced that it has secured $2.6 million in funding.
The financing was co-led by Founders Fund and Ramp, the finance automation platform, which recently announced its own fundraise at a $8 billion valuation. Prominent tech investors including Elad Gil and Dylan Field also participated in the funding.
Companies interacting with blockchains struggle to make sense of their fragmented activity: they tend to manage multiple wallets across various blockchains and hold funds in centralized exchanges or self-custody solutions like Gnosis Safe.
Tactic is tackling the problem of accounting for a business's cryptocurrency holdings and on-chain activity by aggregating data across disparate sources to give businesses a full treasury view of their balances and activities. The platform helps companies automatically categorize transactions and apply accounting logic such as calculating $USD gain/loss and taxable events. Accountants can then reconcile a business's crypto-subledger to traditional accounting software like QuickBooks.
"Tactic solves a real pain point for businesses managing cryptocurrency finances and the product is already saving crypto accounting teams days each month. We believe Tactic has the potential to become a massive player as more companies move into web3," said Leigh Marie Braswell, Principal at Founders Fund.
The past several years have witnessed a Cambrian explosion of crypto and blockchain businesses, with VCs investing $33 billion into the sector in 2021, with $10.5 billion in Q4 alone.
After talking to hundreds of companies, Tactic found that decentralized finance or "DeFi" transactions were the most problematic – a single interaction with a smart contract can generate hundreds of "nested transactions" all of which need to be broken out for accounting purposes. Tactic has partnered with leading accounting firms to help interpret accounting guidelines for DeFi-specific activities such as staking, NFT minting, and airdrops.
"Businesses have come to expect back-office solutions that help them get started quickly and automate their manual tasks. Tactic makes it easy for businesses to transact in cryptocurrency, knowing they can manage their financial activity in a clean, compliant way," said John Dempsey, Tactic's VP of Strategy and Ops, and formerly VP Product at Chainalysis, the blockchain forensics firm.
Since launching in 2021, Tactic has signed up dozens of customers, ranging from early stage startups to billion-dollar enterprises across industries including NFTs, protocols, and DeFi. The company is designing its platform to work with businesses that have hundreds of thousands in transaction volumes per month, which existing solutions are unable to handle.
Ann Jaskiw, Tactic founder and CEO, started the company after learning that founders in web3 were handling their accounting in spreadsheets because existing solutions weren't built with the enterprise in mind. The Tactic team has extensive experience in tech and finance, having spent time at companies such as Google, Microsoft, Goldman Sachs, DE Shaw, and Flatiron Health. The company plans to use the funds to continue growing the team over the coming year.
"It takes businesses hours of manual processes and spreadsheets to manage accounting for cryptocurrency activity. Tactic is anticipating this growing pain point for companies," said Eric Glyman, Ramp CEO and co-founder. "We're partnering with the Tactic team because they share Ramp's ethos of building easy-to-use software that saves time for owners and business operators."
About Tactic
Tactic helps companies that hold or interact with cryptocurrencies manage their finances in a clean, compliant way. The platform provides a clear view of an organization's treasury and a robust transaction audit trail in an accounting-friendly format. Tactic works seamlessly with existing custody solutions including Gnosis Safe and traditional financial software like QuickBooks.
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SOURCE Tactic | https://www.kxii.com/prnewswire/2022/05/04/tactic-launches-stealth-simplify-crypto-accounting-businesses/ | 2022-05-04T17:12:49Z |
CLEVELAND, June 14, 2022 /PRNewswire/ -- Paperboard aseptic and retort cartons will remain the fastest growing shelf-stable packaging product through 2026, finds a new Freedonia Group analysis. Demand will benefit from efforts to create products with easily recyclable barrier layers (in place of aluminum) and coatings.
Aseptic and retort cartons have superior barrier properties and offer a lightweight, resealable way to package shelf-stable food. Soups, juices, and milk are established markets used with cartons; however, cartons are increasingly used with a variety of shelf-stable liquid applications – such as processed vegetables and sauces. This is due to their premium and sustainable image, bolstered by their large billboard space, simple shape, and consumers' perceived image of paperboard as more environmentally friendly than plastic.
Sustainability is an issue for all food packaging, but especially for shelf-stable packaging products such as pouches and cartons, which are often made of composite materials and can be difficult to recycle. These issues are driving the development of improved barrier materials that are more easily recycled. Food waste also remains a primary concern among consumers and producers, leading to the increasing usage of high evacuation rate shelf-stable formats such as pouches and bag-in-box, as well as resealable options ¬– such as bottles and cartons – as opposed to traditional cans.
Shelf-Stable Packaging, now available from The Freedonia Group, presents historical data (2011, 2016, 2019, 2020, and 2021) and forecasts for 2022 and 2026 for demand for shelf-stable food packaging in current dollars (including inflation) and in units by technology, product, application, and material.
Technologies:
- aseptic
- hot fill
- retort
Products:
- metal cans
- bottles
- jars
- cartons
- pouches
- cups and lidding
- bag-in-box
- other packaging (e.g., trays, bowls, tubs, pails)
Applications:
- sauces and condiments
- processed fruits and vegetables, including cooked dried beans
- prepared foods
- juice (e.g., fruit juice, nectar and concentrates, vegetable juice)
- dairy food
- meat, poultry, and seafood (excluding meat alternatives)
- milk and nondairy milk alternatives
- other shelf-stables foods (e.g., meal replacements and protein shakes, baby food and formula, tofu, syrups and sweeteners)
Materials:
- plastic
- metal
- paperboard
- glass
About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
Press Contact:
Corinne Gangloff
+1 440.842.2400
cgangloff@freedoniagroup.com
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SOURCE The Freedonia Group | https://www.kxii.com/prnewswire/2022/06/14/paperboard-cartons-remain-fastest-growing-shelf-stable-packaging-format/ | 2022-06-14T20:26:56Z |
NEW YORK, Sept. 15, 2022 /PRNewswire/ -- Haven Life, a leading digital direct-to-consumer life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), has been recognized by two of the country's most trusted consumer brand rankings for the term life insurance products it offers: Real Simple Smart Money Awards, and Investopedia.
- Real Simple Smart Money Awards awarded their "Buy Life Insurance Without Feeling Judged & Depressed" selection to Haven Life for its ability to make the daunting process of purchasing life insurance a little easier, comparing the process to something "as quick as the time it takes to brew coffee." Real Simple's methodology utilizes a diverse board of financial professionals, CERTIFIED FINANCIAL PLANNER™ professionals, and finance educators to consider products based on innovation and relevance to Real Simple's readers.
- Investopedia selected Haven Life as the "Best Instant-Issue Term" for parents due its user-friendly site and online application process. Investopedia conducts their rankings by collecting data that measures financial stability, customer satisfaction, product and feature variety, and the overall buying experience of insurance companies.
"We are honored to be recognized for our innovative approach to offering high-quality, affordable life insurance," said Mitch Ocampo, Head of Haven Life. "These awards not only mean a great deal to our team, but also underscore the important role life insurance plays in bringing financial security to everyday American households."
These awards follow previous recognition from NerdWallet and Newsweek, naming Haven Life the "Best Same-Day Term Life Insurance" and "America's Best Customer Service 2022" for Life Insurance, respectively. Haven Life stood out for its convenient online approach, simple application process, high coverage limits and option to forgo a medical exam with Haven Simple policies based on the criteria of both award committees.
For individuals interested in purchasing life insurance, they can visit havenlife.com/quote-tool. There, they can get a quote and proceed to apply for a Haven Life policy in minutes, often without the need for a medical exam.* For more information about Haven Life products, visit www.havenlife.com.
Haven Life Insurance Agency, LLC (Haven Life) is re-thinking how people financially protect the ones they love. Haven Life is committed to delivering exceptional products, delightful purchasing experiences, and meaningful moments of service to the modern life insurance customer.
Haven Term is a Term Life Insurance Policy (ICC21 HAVEN TERM in certain states, including NC; HAVEN TERM CA21 in California) issued by C.M. Life Insurance Company (C.M. Life), Enfield, CT 06082. In NY (DTC-NY), DE (DTC-DE), SD (DTC-SD) and ND (DTC) it is issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.
Haven Simple is a Simplified Issue Term Life Insurance Policy (ICC20 HAVEN SIMPLE in certain states, including NC; HAVEN SIMPLE CA20 in California). It is issued by C.M. Life Insurance Company, Enfield, CT 06082.
*Issuing the policy or paying its benefits depends on the applicant's insurability, based on their answers to the health questions in the application, and their truthfulness.
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SOURCE Haven Life | https://www.wibw.com/prnewswire/2022/09/15/haven-life-wins-multiple-awards-term-life-insurance-product/ | 2022-09-15T13:51:31Z |
SEOUL, South Korea, June 15, 2022 /PRNewswire/ -- Biomedical beauty group ULTRA V (CEO Dr. Kwon Han Jin) has launched ULTRACOL, a next-generation biodegradable filler made of PDO ingredients certified by the US FDA.
ULTRA V is a Korean company that is contributing to the development of the global anti-aging industry through smart factory business, etc. by developing a medical grade absorbable thread and next-generation biodegradable filler, ULTRACOL (polymer powder filler) with its own technology.
ULTRACOL is a microsphere made of FDA-registered PDO (POLYDIOXANONE) ingredient, and is the world's first Polydioxanone (PDO) microsphere-based filler and skin booster. It stimulates the production of autologous collagen to help with volume, lifting, and elasticity of face and is used as a skin booster depending on the product type.
- The world's first PDO microsphere shape
- Optimized for autologous collagen formation
- Powder ingredients of absorbable thread
- Safe raw material used for sutures for 30 years
- Collagen production with proven ingredients
- Volumizing and lifting effect
- CE certified
ULTRACOL, composed only of a biodegradable polymer called Polydioxanone and a natural polymer, Carboxymethyl cellulose, does not use any BDDE(ButaneDiol Diglycidyl Ether) toxic ingredients for crosslinking used in HA fillers and it is injectable by processing the absorbable thread ingredient into spherical micro-particles.
Existing fillers have irregular micro-particle shapes or concerns about biosafety, but ULTRACOL has almost no allergy or side effects, and uses PDO ingredients that are naturally dissolved and absorbed in the body and then excreted in the urine. Also, it can help increasing skin elasticity by stimulating collagen production. Collagen gradually decreases as we age, resulting in wrinkles. ULTRA V researchers explain that ULTRACOL plays a role in preventing this.
ULTRACOL has already completed CE certification, which is necessary when selling products related to consumer safety in the EU, and has also completed product registration in European countries such as Germany, France, Sweden, and Asian countries, so the number of sales countries will gradually increase. In Korea, the home country, a global company, Sinclair Pharma is in charge of whole domestic sales.
Ms. Scarlett Jang, head of ULTRA V International Sales dept. said, "We are receiving inquiries about ULTRACOL from various countries. As regulations on HA fillers and environmental regulations has become much stricter, it is expected ULTRACOL, which uses biodegradable polymers as a raw material, will replace conventional fillers in the global filler market."
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SOURCE ULTRA V | https://www.kxii.com/prnewswire/2022/06/15/ultra-v-has-launched-worlds-first-pdo-microsphere-filler-ultracol/ | 2022-06-15T04:00:42Z |
BAGHDAD (AP) — An Iraqi court Sunday postponed the trial of two European tourists charged with antiquities smuggling after their lawyers argued more information was needed about the ancient shards found in their possession.
The defense team for German national Volker Waldman filed a motion in court saying there was insufficient information about the value of the pieces Iraqi officials found on him. He was charged alongside Jim Fitton, 66, a retired British geologist.
Baghdad’s felony court postponed the case until June 6.
Furat Kubba, defense lawyer for Waldman, said he launched the motion partly to seek more information about the historical significance of the pieces found in his client’s possession.
A government technical team concluded the items — 10 pieces found in Fitton’s possession and two in Waldman’s — could be classified as archaeological pieces because they dated back more than 200 years. The shards, some as small as a fingernail, were collected at Eridu, an ancient Mesopotamian city in southern Iraq.
Waldman’s defense team has said the German tourist had been carrying the pieces for Fitton but that he did not pick them up from the site. Both men are charged with smuggling based on the country’s antiquities laws, and could potentially face the death penalty. However, officials have said that was only a remote possibility.
Kubba said they would seek to have Waldman and Fitton tried separately. Both men said they were unaware of the Iraqi antiquities smuggling law or that there would be penalties for picking up or attempting to leave the country with the items.
Fitton and Waldman were arrested on March 20 at Baghdad International Airport when airport security discovered the items in their luggage. They had been part of a tourism expedition across the country’s ancient sites. Their case has received international attention at a time when Iraq hopes to boost its nascent tourism sector. | https://cw33.com/news/ap-top-headlines/iraqi-court-postpones-smuggling-case-against-briton-german/ | 2022-05-22T13:20:37Z |
ALBANY – With a legal cloud that had been hanging over her head for more than two years removed, Dougherty County Probate Court Judge Leisa Blount plans to do what she did during the ordeal – continue performing the duties of her office.
“I don’t have any particular comments about it,” she said. “I’m thankful it’s over. I’m really just working as I always have and just doing my job.”
Blount was charged in March 2020 with one count each of terroristic threats and violation of office.
She was arrested after Dougherty County Sheriff Kevin Sproul asked the Georgia Bureau of Investigation to launch an investigation. The agency alleged that Blount made threats against a county employee who works in the Facilities Maintenance Department.
Specifically, Blount made a remark during a meeting with officials with the county and sheriff’s office that as a judge she had the right to carry a firearm into her office building to protect herself. The alleged victim was not present at that meeting.
Blount said in an affidavit that the county employee acted strangely during two occasions when he entered the Probate Court offices during times he had no duties in that part of the building. On one occasion he told her that he was there to turn off the lights, and on the other he did not give a reason for being in the Probate Court area.
In late April, a special prosecutor chosen to investigate the case decided to dismiss the charges. The prosecutor, Southern Judicial Circuit District Attorney Brad Shealy, formally dismissed the case at that time.
Albany attorney Maurice King, who represented Blount in the case, said there has been no discussion of Blount pursuing a civil case related to the prosecution.
“I’m glad that it’s over with,” he said of the criminal case. “I’m glad that we do not have to try the case. I think it would have been a waste of taxpayer money."
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Near's Tourism Dashboard and Origin Market Length of Stay datasets help drive growth and marketing alignment to enable strategic business decisions
PASADENA, Calif., June 30, 2022 /PRNewswire/ -- As travel rebounds to pre-pandemic levels, Near, a global SaaS leader in privacy-led data intelligence on people, places, and products, is working with Greater Palm Springs to provide insights into where both its domestic and international travelers are coming from to help it understand its business better, make smarter resource decisions, and to better leverage the recovery in tourism in the wake of COVID-19. To assist in this effort, Near is providing Greater Palm Springs its Tourism Dashboard and Origin Market Length of Stay datasets, which are created specifically for analyzing the tourism market, both internally for the company, as well as for sharing with its industry partners.
Greater Palm Springs attracts over 14 million visitors annually, with 6.4 million of those visitors staying overnight. One in four jobs in the area is in the hospitality industry, and the overall economic impact of tourism for the region is $7.5 billion. With the pandemic, the region saw direct spending reduced by $3.4 billion, a 54% drop. To navigate this tremendous shift, the team needed insights and data on where visitors were coming from and what they were doing while visiting to adapt their strategy. By identifying the most common countries of origin for international travelers, Greater Palm Springs knew where to better allocate its resources to draw more tourists and help compensate for events canceled due to the pandemic. This helped lead to full occupancy by summer 2021. As travel continues to rebound to pre-pandemic levels, The Near data is also helping to track visitor/traveler consumer behavior to understand where visitors are dining, shopping, and the attractions they are visiting.
Read the Case Study Here: How Greater Palm Springs used Near's data to understand visitor origins and visitation patterns
"Our partnership with Near has provided our organization with quality data to validate strategy and resource allocation along with gaining new insights into visitor profiles, originating source markets, and their movements within the destination. Since the data is consistently updated and customizable, we are finding new ways to incorporate the data in real-time along with educating our local hospitality businesses to better support their internal programming. Everyone at Near has always been responsive and easy to work with while also accommodating all our requests," said Gary Orfield, Director of Tourism Development, at Greater Palm Springs.
The data from Near helped the team collaborate with the airline network planners on routes, which was especially useful in responding to the changes during the pandemic. The data helped inform and validate recommendations for building new airline routes or extending routes for certain seasons. Thanks in part to these recommendations, Palm Springs International Airport has set ten monthly records since June 2022.
Greater Palm Springs was also able to gather intelligence from regional airports like LAX, San Diego, Orange County, and Ontario to understand where visitors were coming from in terms of the U.S. point of entry, and where they were going once they left the airport. This resulted in a better understanding of international markets and led to increased growth during the summer months. With this and the strategic allocation of resources, Greater Palm Springs was able to attract greater-than-usual numbers of leisure travelers, which made up for a reduction in convention business, which historically had made up 40% of visitors and business. Greater Palm Springs has seen leisure occupancy growth during the summer outpace peak season with a 17.2% increase in the past decade (versus 13.3% for January - May). The Average Daily Rate (ADR) for leisure guests in the summer months has also grown by 34.7% in this same period.
"Near is empowering Greater Palm Springs with the data and insights it needs to make strategic business decisions that will help increase its ROI and the overall tourist experience," said Anil Mathews, Founder, and CEO at Near. "Near is the gold standard in the tourism industry and we are delighted to empower destination marketing organizations (DMOs) of all sizes as well as cities and states around the world with our people and places data to make them more competitive"
Through their partnership with Near, Greater Palm Springs has been able to use data to validate strategy and decisions in many ways. While the overall ROI contributed directly through their work with Near is challenging to measure, the data helped the team: make a case for developing new routes and expanding existing services for flights to Palm Springs International Airport, which reached record numbers of monthly passengers starting in June 2021.
Visit Greater Palm Springs is the official tourism marketing agency for the Coachella Valley. Founded in May 1989 by a Joint Powers Authority comprising the cities of Palm Springs, Desert Hot Springs, Cathedral City, Rancho Mirage, Palm Desert, Indian Wells, La Quinta, and Indio, Visit Greater Palm Springs was created as a public-private partnership to help grow the region's tourism economy. The mission of Visit Greater Palm Springs is to positively affect the destination's tourism economy and quality of life for its citizens, serving more than 5000 GPSTBID partners and providing sales, marketing, and public relations support targeting potential leisure travelers from around the world as well as event, meeting and convention groups. Learn more here: https://www.visitgreaterpalmsprings.com/
Near, a global SaaS leader in privacy-led data intelligence curates one of the world's largest sources of intelligence on people, places, and products. Near processes data from over 1.6 billion unique user IDs, in over 70 million places across 44 countries to empower marketing and operational data leaders to confidently reach, understand, and market to consumers and optimize their business results. With offices in Los Angeles, Silicon Valley, Paris, Bangalore, Singapore, Sydney, and Tokyo, Near serves major enterprises in retail, real estate, restaurants, tourism, technology, marketing, and other industries. For more information, please visit https://near.com
Media Contact
Kat Harwood
kat@near.com
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SOURCE Near North America, Inc. | https://www.wibw.com/prnewswire/2022/06/30/near-provides-greater-palm-springs-precise-insights-global-visitor-patterns-travel-recovers-pre-pandemic-levels/ | 2022-06-30T14:06:34Z |
MADRID (AP) — Spanish authorities are pledging full transparency as they launch inquiries into allegations that the phones of dozens of supporters of Catalan independence were hacked with powerful and controversial spyware only sold to government agencies.
An internal probe by the country’s intelligence agency, a special parliamentary commission to share its results, and a separate investigation by Spain’s ombudsman will be arranged to show that central authorities in Madrid have “nothing to hide,” the minister for presidency and relations with parliament, Félix Bolaños, announced Sunday.
Bolaños also said the government remained committed to negotiations with separatists on the future of the restive northeastern region of Catalonia.
“We want to recover trust by resorting to dialogue and to transparency,” the minister said in Barcelona, following a meeting with the regional chief of the Catalan presidency, Laura Vilagrà.
“The government has a clean conscience and we have nothing to hide,” Bolaños added.
Pere Aragonès, a pro-independence left-wing politician leading Catalonia’s government, said last week that it was putting “on hold” relations with Spain’s national authorities after cybersecurity experts in Canada revealed “massive political espionage.”
Aragonès accused Spain’s intelligence agency, known as CNI in Spanish, of the alleged hacking.
Citizen Lab, an experts group linked to the University of Toronto, said traces of Pegasus and other spyware by two Israeli companies, NSO Group and Candiru, were identified in devices of 65 people, including elected officials, activists, lawyers, European lawmakers and others.
Most infiltration took place between 2017, when a banned referendum on Catalan independence caused a deep political crisis in Spain, and ended in mid-2020, when Citizen Lab revealed the first cases of the alleged espionage.
The Spanish government has not denied nor confirmed whether it uses Pegasus or other hard-to-detect spyware, saying that any surveillance is conducted under the supervision of judges.
Rounds of talks between the central government in Madrid and Catalan regional authorities have yielded some progress in solving some of the separatists’ long-term grievances, but have not resolved the fundamental issues of Catalonia’s status within Spain.
Polling and recent elections show that the share of Catalans supporting independence grew since last decade’s financial crisis, but have since 2017 remained divided, with majorities fluctuating recently between those in favor or against breaking away from Spain. | https://cw33.com/technology/ap-technology/spain-vows-to-be-transparent-in-probe-of-pegasus-spyware-use/ | 2022-04-25T05:39:17Z |
RICHMOND, Texas (KIAH) – A Texas woman has been convicted after allowing her 13-year-old daughter to endure sexual abuse by a 47-year-old man as “a normal part of their religious beliefs.”
Cherry Payton, 43, was convicted of continuous sexual abuse of a young child and sentenced in a Fort Bend County court last week to 30 years in prison, according to the Fort Bend County District Attorney’s Office.
Prosecutors said that in 2017, the girl admitted to her doctor that she was sexually active with “her husband,” who she said was 47 years old. Payton, who was also at the doctor’s office, said the girl was married with her consent and the marriage was a part of her religious beliefs.
Prosecutors discovered that Payton allowed the victim to be married for nearly a year before the illicit marriage came to the attention of authorities. They also had evidence that Payton had sexually abused the victim herself under the guise of a different religion.
While a person must be 18 years old to legally be married in Texas, there are certain exceptions that allow minors who are at least 16 years of age to marry.
“Although the child victim in this case was failed by her mother time and time again, she was surrounded in the courtroom by a strong support system,” prosecutor Jessica Ramos said. “We are grateful to her adoptive mother, her court advocate, her CASA, and the caseworkers from Child Protective Services that supported the child throughout this investigation and trial.” | https://cw33.com/news/woman-gets-30-years-in-prison-for-letting-13-year-old-marry-47-year-old-man/ | 2022-05-09T23:00:43Z |
Australia's equity manager is the latest firm to join 50+ asset managers leveraging Eze Eclipse in APAC
WINDSOR, Conn., Aug. 22, 2022 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Fairlight Asset Management, a Sydney, Australia–based global equity manager, has selected Eze Eclipse as its front-to-back investment management platform. The emerging asset manager is the latest firm to join over 50 asset managers of all sizes leveraging Eze Eclipse in APAC.
"When we set out to upgrade our existing workflows, we were looking for a provider to help streamline operations and scale business," said Ian Carmichael, Senior Portfolio Manager and Partner at Fairlight. "Eze Eclipse fits our needs perfectly. The all-in-one front-to-back solution is helping us optimize our team's activities and the tightly integrated and easy-to-use compliance engine simplifies managing global portfolios."
Eze Eclipse features 60 pre-built compliance rule templates and allows firms to build custom rules to accommodate unique restrictions. The system is also helping Fairlight reconcile its full investment book of record daily.
"We are excited to work with Fairlight to help the team grow their strong portfolio," said Michael Hutner, General Manager of SS&C Eze. "We have a long history of servicing clients across APAC and are proud to support this expanding market. Eze Eclipse is ideally suited to support emerging and growing managers. We continue to make significant investments in the platform, regularly releasing new features to meet our clients' needs."
Since its launch in the APAC market in 2019, Eze Eclipse has become a top choice for investment technology for emerging hedge funds and institutional managers across the Asia Pacific and was named "Best Cloud Tech Provider - Public" at the HFM Asia Services Awards 2021 for exceptional innovation, customer service, and business performance.
SS&C has continued to build on its investment management offerings in APAC. SS&C Eze officially launched in Japan in June, with Hiroki Allen taking over operations. SS&C Eze is Tokyo Metropolitan Authority's Qualified Outsourcing Provider, supporting emerging and growing managers launching funds in the region. In addition, SS&C Eze continues to grow its managed services across APAC.
Fairlight Asset Management is an employee-owned boutique firm investing exclusively in global equity markets. We are focused on contributing to superior investment outcomes for our clients through exceptional performance. Our team take an ethically-aware, quality-driven approach to investing, dedicated to deep fundamental research of both the quantitative and qualitative aspects of investee companies. Principals invest the majority of their liquid assets in the business and the fund itself in order to maximise alignment with investors and partners.
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
Follow SS&C on Twitter, LinkedIn and Facebook.
SOURCE: SS&C
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SOURCE SS&C | https://www.mysuncoast.com/prnewswire/2022/08/23/fairlight-asset-management-optimizes-front-to-back-operations-with-ssampc/ | 2022-08-23T00:52:20Z |
NEW YORK, June 10, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Riskified Ltd. (NYSE: RSKD).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/riskified-ltd-loss-submission-form/?id=28315&from=4
This lawsuit is on behalf of all persons or entities who purchased Riskified Class A ordinary shares in or traceable to the Company's July 2021 initial public offering.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 1, 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, Riskified Ltd. issued materially false and/or misleading statements and/or failed to disclose that: (i) as Riskified expanded its user base, the quality of Riskified's machine learning platform had deteriorated (rather than improved as represented in documents issued in connection with the July 2021 initial public offering), because of, among other things, inaccuracies in the algorithms associated with onboarding new merchants and entering new geographies and industries; (ii) Riskified had expanded its customer base into industries with relatively high rates of fraud – including partnerships with cryptocurrency and remittance business – in which Riskified had limited experience and that this expansion has negatively impacted the effectiveness of Riskified's machine learning platform; (iii) as a result, Riskified was suffering from materially higher chargebacks and cost of revenue and depressed gross profits and gross profit margins during its third fiscal quarter of 2021; and (iv) thus, the representations in documents issued in connection with the July 2021 initial public offering regarding Riskified's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of Riskified prior to and at the time of the July 2021 initial public offering, and were materially false and misleading, and lacked a factual basis.
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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SOURCE Jakubowitz Law | https://www.kxii.com/prnewswire/2022/06/10/rskd-shareholder-alert-jakubowitz-law-reminds-riskified-ltd-shareholders-lead-plaintiff-deadline-july-1-2022/ | 2022-06-10T11:21:22Z |
NEW YORK, Aug. 12, 2022 /PRNewswire/ -- AGBA Acquisition Limited (NASDAQ: AGBA, the "Company"), a special purpose acquisition company, announced today that AGBA Holding Limited, the Company's initial public offering sponsor ("Sponsor"), has deposited into the Company's trust account (the "Trust Account") an aggregate of $504,430.65 (representing approximately $0.15 per ordinary share), in order to extend the period of time the Company has to complete a business combination for an additional three (3) months period, from August 16, 2022 to November 16, 2022. The Company issued a promissory note to Sponsor with a principal amount equal to the amount deposited. The promissory note bears no interest and is convertible into the Company's units (with each unit consisting of one ordinary share, one warrant to purchase one-half of one ordinary share, and one right to receive one-tenth of one ordinary share upon the consummation of the Company's initial business combination) at a price of $10.00 per unit at the closing of a business combination by the Company. The purpose of the extension is to provide time for the Company to complete a business combination.
About AGBA Acquisition Limited
AGBA Acquisition Limited is a British Virgin Islands company incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses in the healthcare, education, entertainment and financial services sectors that have their principal operations in China.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company's initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
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SOURCE AGBA Acquisition Limited | https://www.mysuncoast.com/prnewswire/2022/08/12/agba-acquisition-limited-announces-additional-contribution-trust-account-extend-period-consummate-business-combination/ | 2022-08-12T13:09:30Z |
The renowned Dominican coffee brand had an official float in which Dominican former baseball player Vladimir Guerrero paraded as a special guest
NEW YORK, Aug. 2, 2022 /PRNewswire/ -- Last Sunday, July 31, the renowned brand Café Santo Domingo participated again in the Dominican Parade in the Bronx. There, the executive president of its parent company Industrias Banilejas (Induban), Manuel Pozo Perelló, was named International Grand Marshal.
To the rhythm of merengue and bachata, thousands of Dominicans gathered along Grand Concourse Avenue in the Bronx to enjoy the floats and troupes while celebrating their Dominican identity. Pozo Perelló paraded in the official Café Santo Domingo's float, and was accompanied by his special guest, former Dominican professional baseball player Vladimir Guerrero.
"It gives me great pride to be present, together with Café Santo Domingo, in the Dominican Parade in the Bronx, and to have been selected as Grand Marshal in this great festivity that celebrates Dominican culture," said Pozo Perelló.
Café Santo Domingo began its path to the United States market more than a decade ago in an unassuming way. In 2020, the import effort was expanded with a store on the Amazon e-commerce platform, thus reaching the entire United States. Since last year, the brand has also been expanding its distribution thanks to an agreement with Goya Foods, a partnership that began in the Northeast region of the country, including New York. To date, Café Santo Domingo is available in more than 30 states in the Northeastern and Southeastern United States.
About INDUBAN
Industrias Banilejas S.A.S., (INDUBAN) is the leading coffee producing company in the Dominican Republic. Established in 1945 for the purchase, elaboration, and sales of coffee, it later became an exporter of Dominican gold coffee, highly sought after in the United States and Europe. For more than 75 years, Induban has served Dominicans the aroma and flavor of Café Santo Domingo, the leading and most emblematic brand in the country. Its brands transcend borders, being enjoyed around the world, including The United States, Canada, Spain, Hungary, Russia, Aruba, St. Martin, and Virgin Islands, among others.
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SOURCE Industrias Banilejas S.A.S. (Induban) | https://www.wibw.com/prnewswire/2022/08/02/caf-santo-domingo-is-showcased-bronx-dominican-parade/ | 2022-08-02T16:54:52Z |
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