Source: Securities and Exchange Commission
The SEC’s Office of Investor Education and Advocacy and the Financial Industry Regulatory Authority (FINRA) are issuing this Investor Bulletin to provide individual investors with a few suggestions for year-end investment planning as the year draws to a close. Read More
Source: Government of Canada News
The Government of Canada announces a significant investment to promote the vitality of official-language minority communities.
VAL THERESE, Ontario, October 18, 2024
Investing in Francophone daycare centres and French education promotes the vitality of official language minority communities and strengthens their sense of belonging.
Today, Marc G. Serré, Parliamentary Secretary to the Minister of Energy and Natural Resources and to the Minister of Official Languages, and Member of Parliament (Nickel Belt), accompanied by Viviane Lapointe, Member of Parliament (Sudbury), announced an investment of more than $4.2 million in a daycare centre in Val Therese and the EarlyON Centre in Ontario. They made the announcement on behalf of the Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages.
The investment will allow for the construction of a new 88-place daycare centre in Val Therese, a project that will meet the growing needs of families in the community. This daycare centre will have five rooms: one for 10 infants, two for 30 toddlers, and two for 48 preschool-aged children. The official opening is scheduled for September 2025.
This initiative is in addition to another project, the construction of the new French Catholic elementary school in Val Therese. The integration of a daycare centre into this school will allow children to start learning in a French-speaking institution from early childhood, strengthening their education in the French language from an early age.
This project reflects the Government of Canada’s ongoing commitment to supporting French-language education and early childhood services, while promoting the development of local community educational infrastructure.
The investment was made through the Action Plan for Official Languages 2023–2028: Protection–Promotion–Collaboration, unveiled on April 26, 2023.
The Ontario government’s investment in the daycare centre and the EarlyON Centre amounts to nearly $1.4 million.
John Fragos
Communications Advisor
Office of the Minister of Employment, Workforce Development and Official Languages
john.fragos@hrsdc-rhdcc.gc.ca
Source: GlobeNewswire (MIL-OSI)
VANCOUVER, British Columbia, Oct. 18, 2024 (GLOBE NEWSWIRE) — The Harbourfront Group (“Harbourfront”) today announced its acquisition of Rothenberg Wealth Management (“Rothenberg”). This deal includes a registered investment dealer under the Canadian Investment Regulatory Organization (“CIRO”) and a guaranteed investment certificate dealer.
This latest acquisition brings Harbourfront’s approximate assets under administration (“AUA”) to CAD$8 billion and further expands the company’s presence in Québec and Alberta.
“We’re thrilled to announce Harbourfront’s acquisition of Rothenberg; we share a strong cultural alignment and believe our increased scale and offering will allow us to better serve the clients of our combined firm,” said Danny Popescu, Chief Executive Officer and Founder of Harbourfront. “Our national success in wealth management comes from Harbourfront’s commitment to client service and our partnership model for advisors. Acquisitions of high-quality firms like Rothenberg will continue building our momentum as a leader among independent wealth firms.”
As part of the transaction, Harbourfront is acquiring Rothenberg & Rothenberg Annuities, the firm’s life insurance and annuities company. Acquiring Rothenberg builds upon Harbourfront’s recent acquisition of Cornerstone Investment Counsel Ltd., completed in June 2024.
“Finding the best opportunities for our advisors and their clients is an essential part of our job; we strongly believe Harbourfront Wealth is the premier choice to grow together for many years to come,” said Robert Rothenberg, Chief Executive Officer of Rothenberg Wealth Management.
About Rothenberg Wealth Management
Founded in 1986, Rothenberg is an independent Canadian employee-owned and client-focused investment firm, known for delivering holistic wealth planning and investment management serving thousands of Canadians from coast to coast, with offices in Montreal and Calgary. Learn more: http://www.rothenberg.ca.
About Harbourfront Wealth Management
Founded in 2013, Harbourfront Wealth Management is an independent wealth advisory and investment management firm headquartered in Vancouver, British Columbia, and has a rapidly growing network of over 30 branches across Canada. The Harbourfront Group includes a registered securities dealer/investment advisory firm servicing established advisors and their high-net-worth clients, an investment fund manager that specializes in third party managed alternative investment funds, and a U.S. SEC registered investment advisory firm. Learn more: http://www.harbourfrontwealth.com.
Media Contact
Andrea Magee, Communications Director
Harbourfront Wealth Management
amagee@harbourfrontwealth.com
778.200.5179
Source: Huawei
Headline: Huawei Globally Unveils Intelligent Campus 2030 White Paper
[Dubai, UAE, October 16, 2024] During GITEX Global 2024, Huawei released the Intelligent Campus 2030 white paper for markets outside China at the forum Redefining Intelligent Campus with ICTs, Maximizing Enterprises’ Intelligent Productivity with Xinghe Intelligent Campus. This white paper envisions the future of the intelligent campus.
David Shi, Vice President of Huawei’s ICT Marketing & Solution Sales Dept, delivered an opening speech at the forum. He highlighted that as digital technology advances, the intelligent connectivity of everything will become a reality, which will allow campuses to be fully digital and intelligent. He added that future campuses will become fully perceptible, collaborative, and constantly online smart buildings that are capable of self-learning, self-troubleshooting, and making decisions and executing them independently. “Huawei is committed to bringing digital to every campus for pervasive intelligence and has been deeply involved with intelligent campuses for many years. We have proposed to redefine campuses with ICTs and have leveraged the advantages of our product portfolios to reshape campus connectivity, platform, and business. Up to now, we have helped over 1000 customers worldwide build secure, green, digital, and intelligent campuses,” said David Shi.
David Shi, Vice President of ICT Marketing & Solution Sales Dept, Huawei
Eric He, CEO of Huawei Campus Team, said in his speech that revolutions in energy and information take us closer to the intelligent world, where campuses will play a crucial role. As Eric He explains, we have entered the stage of intelligent campus 2.0, which is 10 Gbps, digital, intelligent, and green. During this stage, campus networks will evolve from simply transmitting data to providing quality connections, campus platforms will move beyond integrating IoT to providing data intelligence, and extensive business management will be upgraded to low-carbon operations. “Relying on ICTs to redefine campuses, Huawei looks forward to working with customers and industry peers to innovate as well as envision and build intelligent campus 2030,” he said.
Eric He, CEO of Huawei Campus Team
Hawn Zhao, President of the Campus Network Domain, Data Communication Product Line, Huawei, introduced Huawei’s Xinghe Intelligent Campus Solution at the forum. As enterprises are witnessing a surge in the number of devices and video conferences, their digital and intelligent office requires improved network performance, security, experiences, and O&M. Huawei’s all-scenario Wi-Fi 7 products can strengthen signals by 100% and improve concurrency by 50%. In addition, Huawei’s application experience assurance solution ensures smooth video conferences and protects VIP services from being compromised, while the Wi-Fi Shield prevents data eavesdropping to ensure 100% network security.
Helping Customers Advance Digital and Intelligent Transformation
Ibrahim Al Kindi, IT Director of the Arab Authority for Agricultural Investment and Development (AAAID), shared AAAID’s experience in intelligent campus construction. AAAID and Huawei have collaborated to enhance its office experiences in five areas: seamless access, intelligent office conferences, full wireless network coverage, AI-based building control, and centralized IoT device access. Ibrahim Al Kindi stated that this is just the beginning of a new era of intelligent office, and AAAID will continue to explore the digital and intelligent transformation of the office field.
Fahad Daghriri, Chief Information Officer of Technical and Vocational Training Corporation (TVTC) in Saudi Arabia, shared how TVTC built an intelligent campus network with the help of Huawei. This network allows for wide coverage, high performance, and efficient O&M, improving mobile office for teachers and studying for students. “Our collaboration aims to achieve a win-win situation, promote digital transformation, build a one-stop campus network, create a smart education platform, and lay a solid foundation for long-term development,” said Fahad Daghriri.
Releasing the Intelligent Campus 2030 White Paper
Huawei globally unveils the Intelligent Campus 2030 white paper
The campus is a basic unit in the making of a city. It is the main place where people live and work. It acts as an important carrier to boost the digital economy, and a key point to realize green and low-carbon transformation. In recent years, the industry has conducted in-depth exploration and cultivated practices surrounding the intelligent campus. Huawei, along with industry experts and scholars, provides insights into its future in the Intelligent Campus 2030 white paper.
Based on the insights into and practices of global intelligent campuses, this white paper proposes a far-sighted definition of future intelligent campus along with visions for its advancement. It outlines five trends that affect intelligent campus development, systematically depicts 10 typical future scenarios, and defines six key technical features of future intelligent campuses for the first time. Innovatively, the white paper proposes a unique reference architecture for the intelligent campus and 22 quantitative indicators to predict the prospects of intelligent campuses, guiding their implementation and construction.
Click the link to read more about the white paper: https://www.huawei.com/en/giv/intelligent-campus-2030
Source: GlobeNewswire (MIL-OSI)
Enhancing data transparency in the Czech real estate market
Providing insurers with reliable and accurate property valuation for underwriting
DENVER, Oct. 16, 2024 (GLOBE NEWSWIRE) — Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today announced that Česká podnikatelská pojišťovna (ČPP), a subsidiary of the Vienna Insurance Group, has subscribed to Intermap’s innovative solution for determining the market price of real estate properties.
Intermap and its partner Dataligence recently launched a solution that combines Intermap’s data and analytics for underwriting, reinsurance and claims with Dataligence’s world-class pricing and real estate databases. ČPP, a long-term user of Intermap’s Aquarius RMA, is the newest major EU insurance group customer to adopt this innovative solution.
This advanced property valuation process meets the growing demand for digitized property services in the Czech market, improving transparency in real estate data.
By utilizing Intermap’s up-to-date flood and natural hazard maps within its Aquarius RMA software, alongside Dataligence’s extensive real estate data, this solution enables accurate online property valuation. It processes comprehensive databases of flood, natural hazard, and real estate information to streamline transactions, providing insurers with reliable and precise property valuations for underwriting purposes.
“We chose this innovative solution because it will make it easier and more convenient for our clients to arrange insurance. At the same time, we see our partners as technology leaders whose data is accurate, robust and reliable,” said Michal Šimon, manager of non-life insurance at Česká podnikatelská pojišťovna.
“We are always excited when we find new ways to use our world-class pricing and real estate datasets,” said Milan Roček, founder and CEO of Dataligence. “Last year, we made our innovative tools available to the general public through the http://www.hypox.cz app, and the continued integration of online pricing into insurance companies’ systems embodies our vision for modern insurance and real estate services, where clients don’t have to worry about anything, yet their assets are reliably protected.”
“Intermap’s solutions for the insurance market use proprietary datasets that are integrated into insurance processes to provide insurers with comprehensive tools that can be used throughout a portfolio lifecycle,” said Patrick A. Blott, Intermap Chairman and CEO. “Our state-of-the-art software, analytics and data enable insurers to understand and underwrite natural hazard risks, then leverage data intelligence to actively manage and reinsure risk with attractive margins.”
Intermap’s services are more important than ever. According to Resources for the Future, “the private residential flood insurance market in the United States is currently small relative to the NFIP. We estimate that private flood insurance accounts for roughly 3.5 to 4.5 percent of all primary residential flood policies currently purchased.” With historic flooding recently, this demonstrates the need for dramatic increase in coverage. CoreLogic “estimates Hurricane Helene industry insured loss at $10.5B – $17.5B. Uninsured losses are estimated at $20B – $30B.” Moody’s RMS Event Response estimates total U.S. private market insured losses from the recent Hurricanes Helene and Milton will likely range between US$35 billion and US$55 billion. This estimate is for insured losses associated with wind, storm surge, and precipitation-induced flooding from these events.”
In Europe, the flood protection gap is 25%. Recent European Commission studies “show that insurance premiums written should at least be doubled to reach a harmonized level of penetration equal to 50%.” Intermap is uniquely positioned to meet this demand and address this need.
To learn more about Intermap’s European solutions, visit intermap.com/european-solutions.
Intermap Reader Advisory
Certain information provided in this news release, including reference to revenue growth and run-rate, constitutes forward-looking statements. The words “anticipate”, “expect”, “project”, “estimate”, “forecast”, “will be”, “will consider”, “intends” and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap’s forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap’s Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
About ČPP
Česká podnikatelská pojišťovna (ČPP), a subsidiary of the Vienna Insurance Group, is a universal insurance company that offers its clients modern products and comprehensive insurance solutions in life and non-life insurance. The company operates through 6 regional headquarters, 100 branches and 220 offices throughout the Czech Republic. It has been operating on the Czech insurance market since 1995. Currently, ČPP manages 2.4 million contracts and its services are used by more than 1.3 million clients. ČPP is one of the Czech top five largest insurance companies.
About Dataligence
The investment group Trigema bought a majority stake in CenovaMapa.org in 2022, largest real estate data platform on the Czech market. The cooperation has already resulted in a new application for end customers, http://www.hypox.cz, as well as the development of existing Dataligence platforms. Over the past few years, Dataligence, with the help of consulting company Deloitte, has become the most important provider of online real estate valuation data in the Czech Republic. For more information, please visit http://www.dataligence.cz.
About Intermap Technologies
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQB: ITMSF) is a global leader in geospatial intelligence solutions, focusing on the creation and analysis of 3D terrain data to produce high-resolution thematic models. Through scientific analysis of geospatial information and patented sensors and processing technology, the Company provisions diverse, complementary, multi-source datasets to enable customers to seamlessly integrate geospatial intelligence into their workflows. Intermap’s 3D elevation data and software analytic capabilities enable global geospatial analysis through artificial intelligence and machine learning, providing customers with critical information to understand their terrain environment. By leveraging its proprietary archive of the world’s largest collection of multi-sensor global elevation data, the Company’s collection and processing capabilities provide multi-source 3D datasets and analytics at mission speed, enabling governments and companies to build and integrate geospatial foundation data with actionable insights. Applications for Intermap’s products and solutions include defense, aviation and UAV flight planning, flood and wildfire insurance, disaster mitigation, base mapping, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation.
For more information, please visit http://www.intermap.com or contact:
Jennifer Bakken
Executive Vice President and CFO
CFO@intermap.com
+1 (303) 708-0955
Sean Peasgood
Investor Relations
Sean@SophicCapital.com
+1 (647) 260-9266
MILES AXLE Translation. Region: Russian Federation –
Source: Moscow Government – Government of Moscow –
Today, there are about 370 enterprises in Moscow engaged in the production of computers, optics and electronics. Thanks to the active support of the city, they develop and bring innovative products to market, and also increase the range and volume of production. In just eight months of the year, companies have almost doubled the production of high-tech products compared to the same period in 2023. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.
“From January to August 2024, the capital saw a 96 percent increase in the production of computers, electronic and optical products. Shipments to customers increased by almost 40 percent and exceeded 386 billion rubles. Such results were achieved thanks to the support that the city provides to industrialists on behalf of Sergei Sobyanin. Today, companies have access to over 20 systemic tools, in particular, they can localize production in the territory of the special economic zone “Technopolis Moscow”, as well as obtain the status of a resident of the SEZ, attract a preferential investment loan or rent land for one ruble to implement a large-scale investment project,” said Maxim Liksutov.
For example, last year thanks to Moscow Fund for Support of Industry and Entrepreneurship The capital’s optical equipment manufacturer was able to attract almost three billion rubles under the preferential investment lending program. The enterprise has the status of a resident of the special economic zone “Technopolis Moscow”. The funds received were used to purchase new equipment for the production of high-speed optical transceivers and create a test bench. The term of financial support is three years.
“In the first eight months of 2024, Moscow saw an increase in the production of printed circuit boards, electronic computers, electricity production or consumption meters, semiconductor devices and much more. The products manufactured by the capital’s factories meet high quality standards and are in demand on the domestic and international markets. Thus, during the specified period, industrialists supplied customers with computers and peripheral equipment for more than 121 billion rubles, control and measuring and navigation devices for 117 billion rubles, and the volume of communications equipment shipped amounted to almost 68 billion rubles,” added the Minister of the Moscow Government, Head of the Moscow Department of Investment and Industrial Policy.
In addition, manufacturers who want to enter foreign markets can benefit from the support of the Mosprom center. It offers information and methodological assistance, including verification of counterparties and participation in business missions and international exhibitions. Since 2022, with the support of the center, Moscow companies have found new partners in the markets of Latin America, Africa, the Middle East, Southeast Asia and other CIS countries.
Moscow is the largest industrial and scientific-engineering center of Russia. There are more than 4.5 thousand industrial enterprises in the capital, employing over 750 thousand people. Every year, 150 new technology companies open here and dozens of investment projects are implemented, providing the city with additional jobs.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.
Source: US State of Connecticut
For nearly 30 years, there have been no new medicines to treat stroke patients, but UConn is testing a small-molecule drug in its laboratories shown to reduce damage and restore function after stroke.
UConn School of Medicine has received a follow-up research grant award of more than $2 million from the NIH’s National Heart, Lung, and Blood Institute (NHLBI) to further advance UConn’s testing of its promising stroke drug discovery.
Inventors and principal investigators of the experimental, brain-permeable, anti-inflammatory therapy are Rajkumar Verma, M.Pharm., Ph.D., assistant professor of neuroscience at the Calhoun Cardiology Center, and Dr. Bruce T. Liang, cardiovascular physician-scientist at UConn School of Medicine.
“This renewed NIH grant funding will enable us to further advance our laboratory testing and ultimately apply to the FDA for an Investigational New Drug (IND) application. If approved, it will lead to first-in-human testing,” says Liang.
The NIH’s initial phase 1 funding allowed this collaborative UConn research team to screen for and discover the experimental chemical that has been proven effective in animal models to be both neuroprotective and heal the brain damaged by a stroke by reducing inflammation.
The innovative stroke therapy getting closer to human clinical trials inhibits an important receptor, P2X4, implicated in ischemic stroke damage. This novel P2X4 receptor inhibitor works by stopping and reducing the expansion of brain damage caused by a stroke – the leading cause of disability in the U.S. – to combat its long-term, debilitating effects, such as paralysis of one side of the body, memory loss, speech, language, depression, and vision problems.
Most strokes are ischemic, which occur when a blockage in an artery leading to the brain causes damage or death of brain cells because of reduced blood flow and oxygen supply. The damaged or dying brain cells release excessive amounts of stored adenosine triphosphate (ATP), a molecule that serves as a danger signal, leading to over-stimulation of its receptor P2X4 (P2X4R), mainly found on immune cells of the blood and brain. When P2X4R is overactive, it causes a cascade of detrimental effects in brain cells, leading to a large stroke.
“Our medication crosses the blood-brain barrier to reach the brain and heal it by blocking the receptor implicated in ischemic stroke damage. It also reduces the brain damage that a stroke inflicts, enhances the possibility for both short-term and long-term stroke recovery and restored function, while expanding the time window available for stroke treatment,” says Verma.
If soon proven successful in animal models for safety and then human clinical trials, the research team believes this neuroprotective drug intervention would have a groundbreaking impact on the future of stroke patient care.
This innovative UConn research, in collaboration with NIH’s Kenneth Jacobson, Ph.D., was initially supported by the NIH via a small business “STTR phase 1 grant: A New Anti-inflammatory Therapy for Ischemic Stroke” grant to the UConn Technology Incubation Program (TIP) start-up company Provascor Pharmaceuticals.
According to the NIH, this follow-up phase 2 grant award’s objective is to continue UConn’s innovative research and development efforts of the drug initiated in phase I with larger, renewed funding based on the already promising results, along with the scientific and technical merit and commercial potential of this new medicine.
The UConn researchers look forward to presenting their research findings to the FDA in the foreseeable future, says Verma.
Source: Mayor of London
Since their July 2024 report, EY, the external auditors of the GLA Group have made the following change:
Tomorrow, the London Assembly Audit Panel will examine the GLA External Audit Status Report and the Corporate Risk Register, both of which contain responses to the TfL cyber-attack. The Panel will also discuss the Register of Gifts and Hospitality and the procurement exercise for the New Year’s Eve fireworks event.
The guests are:
The meeting will take place on Thursday, 17 October 2024 from 2pm, in the Chamber at City Hall, Kamal Chunchie Way, E16 1ZE.
Media and members of the public are invited to attend.
The meeting can also be viewed LIVE or later via webcast or YouTube.
Follow us @LondonAssembly.
Source: GlobeNewswire (MIL-OSI)
Phunware Announces Next Generation AI-Driven SaaS Platform
Targets expansion into the Global Mobile App Market expected to exceed $420 Billion by 2028
AUSTIN, Texas, Oct. 16, 2024 (GLOBE NEWSWIRE) — Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or the “Company“), a leader in cloud enterprise solutions for mobile applications and related technologies, today issued a letter to stockholders from Mike Snavely, the Chief Executive Officer of Phunware, providing an update on Phunware’s existing and new business units and performance and achievements during 2024. The letter provides insight into Phunware’s transition to a new generative AI-based software development platform and several other new business initiatives, and its avenues for continued growth and success in 2025.
Dear Fellow Stockholders:
A letter to Stockholders is often written after the end of the year to reflect on successes and challenges and to share insights for the road ahead. However, the past few years have been anything but a normal path for Phunware and as I reflect on my first year as CEO, I felt the time was right to update you on 2024 and to share our vision for 2025 and beyond.
Our primary focus is to create value for our stockholders. One key measure of that is our market capitalization which has varied from $12M late last year to a high of about $120M in the first quarter, settling at about $55M as of the writing of this letter. It’s certain that some of our stockholders’ positions have benefited from this price volatility and some have not. We acknowledge this by saying that we have always acted, and will continue to act, in what we see as the best long-term interests of our stockholders.
Often, volatility drives opportunity, and over the months we have used the trading volume and price volatility to raise capital to stabilize the balance sheet and to provide the capital required to think bigger.
This letter explains what we intend to do with that capital. We couldn’t be more optimistic about our future, and I want to briefly share what we have been doing to strengthen our core business, enhance our operations and right-size our cost structure in service of our strategic vision. More importantly, I am excited to highlight new initiatives we are launching. I believe these steps will help the market at large see why we believe we are a great investment and that our best days are ahead of us.
I’ll remind you of our recent performance: so far this year, we have lowered our cash burn by more than half and have increased sales by two orders of magnitude in the first half of 2024 as compared to the same period in 2023.
| Six Months Ended | ||||||||
| 2024 | 2023 | Change | ||||||
| Bookings (contracts executed) | $ | 1,746 | $ | 168 | 939 | % | ||
| Revenue | 1,932 | 2,640 | -27 | % | ||||
| Gross profit | 994 | 610 | 63 | % | ||||
| Net loss from: | ||||||||
| Continuing operations | (4,923 | ) | (8,126 | ) | 39 | % | ||
| Discontinued operations | (2,667 | ) | 100 | % | ||||
| Loss per share from: | ||||||||
| Continuing operations | (0.65 | ) | (3.90 | ) | 83 | % | ||
| Discontinued operations | (1.28 | ) | 100 | % | ||||
We believe our sales engine is just getting underway
As we move toward the end of the year and into 2025, we continue to do the blocking and tackling to continue to sell and grow revenue. We have been able to recruit seasoned sales and marketing talent to help us get our message out to more customers and to win more deals. We are also announcing various initiatives to unlock additional markets and to position ourselves as the most advanced and highest potential company in mobile globally.
Our Software Business continues to evolve to pick up new efficiencies and to unlock new markets
Phunware is a market leader in providing enterprise cloud solutions for mobile applications. Our location-based services and patented wayfinding technology sets us apart from our competitors, providing real-time indoor navigation with unmatched precision and customization. Our technology for seamless transition from indoor wayfinding to outdoor location sharing and geofencing is best in class. Phunware is widely known for creating first rate custom mobile applications for large enterprise customers with complex needs to engage with their end users and to facilitate profitable engagements and experiences.
Our software development platform for mobile applications is currently designed to create fully customizable apps and provide related services for larger enterprises. In the first half of 2024, we have seen dramatic growth (939% over the comparable period in 2023) in bookings. Our customers like what we do for them and notably we are getting terrific word of mouth references, accelerating our growth in major customers. Finally, we have added new features and functionalities to our existing products, including artificial intelligence features like an AI Personal Concierge for property guests and Intelligent Reporting for property owners.
Leveraging the Power of Generative AI, our Platform Will Enable Rapid Development and Monetization of Custom Mobile App Solutions
Today, we are announcing the development of a new generative AI-based platform designed to democratize access to world-class design, user experience and content creation so that businesses of any size can design, create, build, and deploy high-quality custom mobile applications in days or even hours. By leveraging generative AI, we believe that the new platform will simplify mobile app design and content creation and drastically reduce the need for expensive and time-consuming design and development investments.
This platform marks the next chapter in Phunware’s evolution, building on a decade and a half of providing custom mobile app solutions to several thousand U.S. and global customers, including some of the most recognized Fortune 100 & 500 brands.
The platform is designed to harness and integrate the power of generative AI to enable all businesses to quickly develop and monetize custom mobile app solutions, making them accessible to small and medium-sized businesses. We also expect to add new AI-related features and functionalities to all of Phunware’s mobile app offerings, reinforcing our position as a leader and innovator in the continually-growing mobile app market.
Phunware’s Competitive Advantages in a Multi-Billion Dollar Global Mobile App Market1
Our planned incorporation of AI into our SaaS platform is driven by our view that consumer engagement with mobile-first solutions and artificial intelligence technology will continue to play a critical role across industries. Key competitive advantages of this platform will include:
The adoption of our generative AI-powered SaaS platform is expected to benefit our existing customers and all industry verticals and create meaningful opportunities for accessing new markets. Our platform is designed to automate the development intake process, reduce development costs and time-to-market, and enable innovation and user engagement through AI. We are leading the way to make AI-powered mobile applications accessible to enterprise and small and medium business customers alike.
We expect our new AI-powered SaaS platform will launch mid-2025. We also expect to further integrate AI and machine learning capabilities into our new platform in 2025. We intend to integrate AI-driven predictive analytics into the platform by Q3 2025, providing businesses with advanced tools for analyzing customer data to predict future behaviors. We also expect the new platform to offer seamless integrations of its mobile apps with additional cloud service providers, ensuring modern scalability, flexibility, efficiency and security for businesses of all sizes.
Digital Advertising Business
We also have a growing business in providing digital advertising campaigns for a range of customers. We work with agencies and directly with our own customers, from public companies to non-profit organizations to governmental entities. We place general awareness, performance-based and retargeting advertising campaigns for our customers, enabling them to successfully reach their audiences and achieve their marketing objectives. We have provided digital advertising and related placements to hundreds of customer campaigns in 2024 to date and continue to see strong demand for these services.
We plan to expand our digital advertising platform in several additional ways. We intend to relaunch our programmatic advertising capabilities into our core mobile platform. This will enable us to help our customers conduct more efficient, scalable digital advertising campaigns through our platform and through partnerships or alliances with one or more third-party programmatic advertising platforms. The integrated solution will be designed to utilize generative AI to help our customers personalize their digital advertising campaigns to individual users based on behavior, preferences and demographics to enhance user engagement and increase conversions. Finally, we intend to serve a global audience with these capabilities, tied to our mobile application portfolio growth.
Voter / Advocacy Engagement Business
We are also planning to invest in the application of our AI-powered platform to advocacy and voter engagement. You will recall that we developed and implemented the Donald J. Trump 2020 Presidential Campaign app, a highly regarded and well received voter / advocacy engagement app.
We think this was just the tip of the iceberg. Every election cycle, candidates set new records in spending and we believe that our AI-powered platform can help make that spend more impactful. Further, we believe that it is more important than ever for Phunware to help political candidates and voters connect, engage and participate in the voting process, and for individuals and organizations to become knowledgeable about, educate others about, and advocate for events, causes and issues that are important to them. Our platform can help them do just that.
We plan to continue to use our AI-powered platform to develop custom mobile apps for election campaigns, political action committees, and other organizations to identify, engage and turn out voters. Our mobile advertising solutions will be a part of driving voter engagement as well. We may invest in and partner with other technology providers and organizations that use mobile technologies to drive voter and advocacy engagement. We will likely pursue these opportunities both in the U.S. and with strategic partners and alliances globally.
Financial Strength
Our spend has been adjusted to fit the size of our business today and to focus investment on the future. We believe that sober execution against our business plan is the right way to deliver long-term stockholder value and we are focused on the careful stewardship of the company to bring our vision to life.
We have not said much in the markets recently. In retrospect, we’ve probably said too little. Moving ahead, we intend to continue to provide our stockholders with additional updates on our businesses and products from time to time. Our focus will remain on platform launch, product roadmaps and timelines; innovation; operational efficiency; building thought leadership; and inorganic growth, including tactical and strategic acquisitions, investments, partnerships and alliances. And we will endeavor to keep stockholders advised of significant occurrences every step of the way.
I’ll end where I started…I believe Phunware’s best days are ahead. We look forward to continuing to create and enhance value for our stockholders, customers, employees and the consumers who use our products.
Thank you for your ongoing support.
Mike Snavely
Chief Executive Officer
About Phunware
Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions. We provide businesses with the tools to create, implement and manage custom mobile applications and analytics, digital advertising and location-based services. Phunware is transforming mobile engagement by delivering scalable and personalized mobile app experiences.
Phunware’s mission is to achieve unparalleled connectivity and monetization through widespread adoption of Phunware mobile technologies, by leveraging brands, consumers, partners and digital asset holders and market participants. Phunware is poised to expand its software products and services audience and industry verticals through its new platform, utilize and monetize its patents and other intellectual property rights and interests, and update and reintroduce its digital asset ecosystem for existing holders and new market participants.
For more information, please visit https://www.ai.phunware.com or contact:
MZ Group, North America
Joe McGurk, Managing Director
917-259-6895
PHUN@mzgroup.us
Phunware Investor Relations:
CORE IR
516-222-2560
investorrelations@phunware.com
Safe Harbor / Forward-Looking Statements
This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “expose,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. For example, Phunware is using forward-looking statements when it discusses the proposed offering and the timing and terms of such offering and its intended use of proceeds from such offering should it occur.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the SEC, including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
___________________________
1 Grand View Research, Inc. Mobile Application Market Size, Share & Trends Analysis, July 2024: market size is projected to reach approximately $322 billion in 2026, $367 billion in 2027, and $421 billion in 2028.
Source: GlobeNewswire (MIL-OSI)
BEDFORD, Mass., Oct. 16, 2024 (GLOBE NEWSWIRE) — Berkshire Grey Inc., a leader in AI-powered robotic solutions for automating supply chain operations, announces the release of the V3 Put Wall, the latest iteration of its globally deployed solution. Designed to automate eCommerce order consolidation and returns processing, the V3 Put Wall provides a modern, integrated alternative to manual put walls and traditional linear sorters.
More than just a point solution for sortation, the V3 Put Wall is a critical enabler of amplified efficiency in automated fulfillment systems. By seamlessly integrating with key technologies such as ASRS (Automated Storage and Retrieval Systems), the V3 Put Wall enhances overall warehouse operations, empowering businesses to manage complex orders, scale rapidly, and process a broader range of SKUs. Its compact footprint maximizes throughput while complementing existing automation infrastructures, offering the flexibility to fit into any environment.
“The V3 Put Wall is a breakthrough in warehouse automation,” said Paul Ambruso, VP Product, at Berkshire Grey. “When paired with ASRS and other complementary systems, it acts as a force multiplier, boosting the value of existing automation investments.”
Key Features of the V3 Put Wall Include:
“The V3 Put Wall is the complete solution for businesses seeking to transform their fulfillment operations,” said Paul. “By acting as a critical link in the automation chain, it amplifies the value of ASRS and other systems, enabling businesses to service more orders simultaneously and with greater accuracy. This means quicker order fulfillment, lower labor costs, and seamless integration into existing operations—delivering unmatched value.”
Ideal for industries such as retail, eCommerce, 3PL, and omnichannel distribution, the V3 Put Wall offers scalable, efficient solutions for managing high order volumes. Set for deployment in 2025, the V3 Put Wall provides customizable sortation capabilities, delivering industry-leading efficiency and maximizing the performance of a fully automated fulfillment ecosystem.
For more information about the V3 Put Wall and Berkshire Grey’s full portfolio of robotic automation solutions, visit http://www.berkshiregrey.com.
About Berkshire Grey
Berkshire Grey Inc. helps customers radically change the essential way they do business by delivering game-changing technology that combines AI and robotics to automate fulfillment, supply chain, and logistics operations. Berkshire Grey solutions are a fundamental engine of change that transforms pick, pack, place, and sort operations to deliver competitive advantage for enterprises serving today’s connected consumers. Berkshire Grey customers include Global 100 retailers and logistics service providers. More information is available at http://www.berkshiregrey.com.
Media Contact:
Cailin Radcliffe
Berkshire Grey Inc.
press@berkshiregrey.com
Source: GlobeNewswire (MIL-OSI)
GREENWOOD VILLAGE, Colo., Oct. 16, 2024 (GLOBE NEWSWIRE) — Arq, Inc. (NASDAQ: ARQ) (the “Company” or “Arq”), a producer of activated carbon and other environmentally efficient carbon products for use in purification and sustainable materials, today announced the Company expects to release its third quarter 2024 financial results and file its Quarterly Report on Form 10-Q for the period ended September 30, 2024 before market open on November 7, 2024. A conference call to discuss the Company’s financial performance is scheduled to begin the same day at 8:30 a.m. Eastern Time.
The conference call webcast information will be available via the Investor Resources section of Arq’s website at http://www.arq.com. Interested parties may participate in the conference call by registering at https://www.webcast-eqs.com/arq20241107. Alternatively, the live conference call may be accessed by dialing (800) 715-9871 or (646) 307-1963 and referencing Arq and/or Conference ID 9011669.
A supplemental investor presentation will be available on the Company’s Investor Resources section of the website prior to the start of the conference call.
A replay of the event will be made available shortly after the event and accessible via the same webcast link referenced above. Alternatively, the replay may be accessed by dialing (877) 660-6853 or (201) 612-7415 and entering Access ID 13749544. The dial-in replay will expire after November 14, 2024.
About Arq
Arq (NASDAQ: ARQ) is a diversified, environmental technology company with products that enable a cleaner and safer planet while actively reducing our environmental impact. As the only vertically integrated producer of activated carbon products in North America, we deliver a reliable domestic supply of innovative, hard-to-source, high-demand products. We apply our extensive expertise to develop groundbreaking solutions to remove harmful chemicals and pollutants from water, land and air. Learn more at: http://www.arq.com.
Source: Arq, Inc.
Investor Contact:
Anthony Nathan, Arq
Marc Silverberg, ICR
investors@arq.com
Source: GlobeNewswire (MIL-OSI)
CALGARY, Alberta, Oct. 16, 2024 (GLOBE NEWSWIRE) — Condor Energies Inc. (“Condor” or the “Company”) (TSX: CDR), a Canadian based energy transition company is pleased to provide an operational update for its eight gas field production enhancement project in Uzbekistan.
Production for the third quarter of 2024 averaged 10,010 boepd with corresponding sales of $19 million. During the third quarter, the Company started a multi-well workover program, and the initial results are exceeding expectations. Seven made-in-Canada artificial lift systems (“plunger lifts”) have been installed with the initial three wells adding a cumulative 330 boepd of incremental production. The corresponding gas flow rates are 100% to 300% higher than prior to the workovers based on 24 hour production tests of each well. The four other wells are currently being reactivated and expected to be producing shortly.
In addition to further plunger lift installations, the ongoing workover program will also perforate by-passed and new gas reservoir intervals that were recently identified from an ongoing logging program and detailed reviews of the existing well stock.
Given the initial workover program successes, the Company has contracted a second workover rig to begin activities by early November 2024. With over 100 wells in the eight fields, there is a large inventory of both producing and shut-in wells available for evaluation, recompletion and optimization opportunities to profitably grow production.
The Company is currently installing a made-in-Canada in-line flow separation system which separates water from the gas streams at the field gathering network rather than at the production facility. This will reduce pipeline flow pressures that can lead to higher reservoir flow rate. This technology has been successfully deployed in similar conditions in Western Canada and is expected to be operational by early November 2024. Additional systems are being manufactured for installation in the coming months.
Don Streu, President and CEO of Condor commented: “We are very excited that the initial workover program results are greatly exceeding expectations. Early operational learnings have reduced subsequent workover days and well reactivation times. As the second workover rig ramps up, we are confident production rates will materially increase as there will be a larger inventory of enhanced wells returning to production. We also anticipate the proven in-line flow separators will add incremental production during this quarter.
“In parallel with our production enhancement activities, we’ve implemented our safety culture through ongoing employee and contractor training which has resulted in zero lost time and environmental incidents since the start of the project.”
ABOUT CONDOR ENERGIES INC
Condor Energies Inc is a TSX-listed energy transition company that is uniquely positioned on the doorstep of European and Asian markets with three distinct first-mover initiatives: increasing natural gas and condensate production from its existing fields in Uzbekistan; an ongoing project to construct and operate Central Asia’s first LNG facility in Kazakhstan; and a separate initiative to develop and produce lithium brine in Kazakhstan. Condor has already built a strong foundation for reserves, production and cashflow growth while also striving to minimize its environmental footprint.
FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute forward-looking statements under applicable securities legislation. Such statements are generally identifiable by the terminology used, such as “anticipate”, “appear”, “believe”, “intend”, “expect”, “plan”, “estimate”, “budget”, “outlook”, “scheduled”, “may”, “will”, “should”, “could”, “would”, “in the process of” or other similar wording. Forward-looking information in this news release includes, but is not limited to, information concerning: the timing and ability to install additional plunger lift systems; the timing and ability to reactivate four other wells; the timing and ability to perforate by-passed and new gas reservoir intervals that were recently identified; the timing and ability to contract a second workover rig to begin activities by early November 2024; the timing and ability to install and commission the inline flow separator by November 2024; the timing and ability of the inline separator to reduce pipeline flow pressures that can lead to higher reservoir flow rates; the timing and ability to manufacture additional separation units for installation in the coming months; the timing and ability to reduce subsequent workover days and well reactivation times; the timing and ability to materially increase production rates; and the timing and ability for the in-line flow separators to add incremental production during this quarter.
ABBREVIATIONS
| The following is a summary of abbreviations used in this news release: | |
| boepd | Barrels of oil equivalent per day |
| $ | Canadian dollars |
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
For further information, please contact Don Streu, President and CEO or Sandy Quilty, Vice President of Finance and CFO at 403-201-9694.
Source: GlobeNewswire (MIL-OSI)
EASTON, Md., Oct. 16, 2024 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today announced the appointment of John Larkin as Senior Vice President, Director of Investor Relations. In this role, Mr. Larkin will report to Chief Executive Officer Paul Prager.
“John’s extensive experience in financial strategy and investor engagement will be critical as TeraWulf continues to scale and execute our growth plans,” said Paul Prager. “His deep expertise in capital markets will bolster our relationships with institutional investors and sharpen the communication of our financial performance and strategic milestones.”
With over 25 years of experience in capital markets across buy-side and sell-side roles, Mr. Larkin brings extensive knowledge and insight to TeraWulf. Most recently, he served as Chief Operating Officer at Connacht Asset Management. Before that, he spent nearly a decade at Susquehanna International Group, where he led the Event-Driven/Special Situations Desk and served as Assistant Director of Research. Mr. Larkin began his career at Citigroup, holding a variety of key positions.
“I’m thrilled to join TeraWulf during such an exciting and transformative period for the Company,” said John Larkin. “With its forward-thinking approach to sustainable digital infrastructure and rapid growth, TeraWulf is uniquely positioned to capture increased attention from the investment community. I look forward to driving investor engagement and contributing to the Company’s long-term success.”
About TeraWulf
TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for Bitcoin mining and high-performance computing. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through Bitcoin mining, leveraging predominantly zero-carbon energy sources, including nuclear and hydroelectric power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at http://www.sec.gov.
Company Contact:
Jason Assad
Director of Corporate Communications
assad@terawulf.com
(678) 570-6791
Source: Hong Kong Government special administrative region
Hong Kong Customs raids two suspected illicit cigarette storage centres and detects one case involving illicit cigarette distribution vehicle (with photos)
Hong Kong Customs raids two suspected illicit cigarette storage centres and detects one case involving illicit cigarette distribution vehicle (with photos)
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Hong Kong Customs today (October 16) conducted anti-illicit cigarette operations in Hung Hom, Kwun Tong and Wong Tai Sin, shutting down two suspected illicit cigarette storage centres and detecting a case involving an illicit cigarette distribution vehicle. A total of about 183 000 suspected illicit cigarettes, with a total estimated market value of about $820,000 and a duty potential of about $600,000, were seized. Three persons suspected to be connected with the cases were arrested. In the first case, Customs officers raided a residential unit on Wu Kwong Street, Hung Hom, this afternoon and seized about 120 000 suspected illicit cigarettes therein. A 50-year-old woman who claimed to be unemployed was arrested. In the second case, Customs seized about 54 000 suspected illicit cigarettes from a residential unit on Hong Ning Road, Kwun Tong, this afternoon. A 47-year-old woman who claimed to be a construction worker was arrested. In the third case, Customs officers intercepted a private car on the roadside in Choi Wan Estate, Wong Tai Sin, this evening. Upon inspection, about 9 000 suspected illicit cigarettes were seized inside the vehicle and a man, aged 30 and claiming to be a worker, was arrested. Investigations of the three cases are ongoing. Customs will continue its risk assessment and intelligence analysis for interception at source as well as through its multipronged enforcement strategy targeting storage, distribution and peddling to spare no effort in combating illicit cigarette activities. Customs reminds members of the public that it is an offence to buy or sell illicit cigarettes. Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years. Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 1820 80 80 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002/).
Ends/Wednesday, October 16, 2024Issued at HKT 19:50
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Source: Government of Italy (English)
Vai al Contenuto Raggiungi il piè di pagina
16 Ottobre 2024
Council of Ministers meeting no. 100 was held at Palazzo Chigi on Tuesday 15 October. This morning, the Minister of Economy and Finance, Giancarlo Giorgetti, and the Deputy Minister of Economy and Finance, Maurizio Leo, held a press conference to illustrate the measures approved.
Source: GlobeNewswire (MIL-OSI)
No Proof of Committed Financing and/or Information to Validate Its Claims that a Transaction Could Receive Regulatory Approval and Be Completed
Hope Bancorp Merger Is the Only Opportunity that Provides Tangible Value, has a Clear Path to Close and Creates a Stronger Territorial
Territorial Urges Shareholders to Vote FOR Hope Bancorp Merger in Advance of Special Meeting on November 6, 2024 at 8:30 a.m. Hawai‘i Time
HONOLULU, Oct. 16, 2024 (GLOBE NEWSWIRE) — Territorial Bancorp Inc. (NASDAQ: TBNK) (“Territorial” or the “Company”) is mailing the following letter to Territorial shareholders in connection with the Company’s upcoming Special Meeting of Stockholders (the “Special Meeting”) to vote on the proposed merger with Hope Bancorp, Inc. (NASDAQ: HOPE) (“Hope Bancorp”) and related proposals. The Special Meeting is scheduled for November 6, 2024 at 8:30 a.m., Hawai‘i Time. Territorial shareholders of record as of August 14, 2024 are entitled to vote at or before the meeting. Other important information related to the Special Meeting can be found at http://www.TerritorialandHopeCombination.com.
Dear Fellow Territorial Bancorp Shareholders,
On November 6, 2024, Territorial Bancorp is holding a Special Meeting of Stockholders (the “Special Meeting”) to vote on our pending merger with Hope Bancorp. Failure to approve the merger could have significant negative consequences for the value of your investment and Territorial’s continued success.
Don’t be misled: Blue Hill Advisors LLC (“Blue Hill”) has only issued press releases and presentations. Blue Hill has warned that its indication of interest is “non-binding” and has provided no evidence that it would – or could – actually pay for the Company. Moreover, there are very real concerns that Blue Hill could complete a transaction at all.
Protect your investment: The Territorial Bancorp Board of Directors strongly recommends that all Territorial shareholders vote “FOR” the Hope Bancorp merger and related proposals TODAY. Your vote is important, no matter how many, or few, shares you own.
The Territorial Board of Directors is Committed to Doing What is in the Best Interest of Territorial Shareholders and Pursuing the Most Value Creating Path
Blue Hill Has Provided No Information that Would Enable the Territorial Board to Deem Its Preliminary Indication of Interest Superior or Likely to Lead to a Superior Proposal
In negotiating the Hope Bancorp merger agreement, the Territorial Board obtained important protections for our shareholders – namely a superior proposal provision. This provision enables the Board to have discussions with parties who present an alternative to the Hope Bancorp merger so long as the alternative proposal is real, fully financed and actually or likely “superior” to the Hope transaction. To meet this standard, the alternative proposal must, among other things, be more favorable to our shareholders from a financial point of view and be reasonably likely to close. Blue Hill has not met these and other thresholds.
On four occasions we have publicly provided Blue Hill with a roadmap of the basic elements that need to be addressed before we would be able to engage in discussions with them under the terms of the Hope Bancorp merger agreement. Despite this, Blue Hill has repeatedly failed to provide credible and verifiable information as to these basic elements.
Given these and other factors, the Territorial Board has not concluded that the Blue Hill proposal constitutes or is reasonably likely to lead to a superior proposal, as defined by the Hope Bancorp merger agreement. As a result, the only way to unilaterally engage in discussions with Blue Hill would be to break our obligations under the Hope Bancorp merger agreement, which would expose Territorial and our shareholders to substantial, costly litigation risk and the possibility of no transaction at all.
Territorial Shareholders Are at Great Risk If the Hope Bancorp Merger is Terminated and the Only Strategic Alternative is Blue Hill
The Value of Your Shares Could Decline Substantially
These and other factors led to the Board’s decision to cut Territorial’s dividend to essentially $0 and enter into the Hope Bancorp merger agreement. While our challenges would be addressed by Hope Bancorp’s larger, stronger, more diversified platform, Blue Hill offers nothing to benefit the business if the Hope Bancorp agreement is terminated. Indeed, with Blue Hill, Territorial would have the same standalone hurdles that it does today and potentially much worse.
The Hope Bancorp Merger Is the Best, Most Value-Creating Opportunity for Territorial Shareholders at Close and Over the Long-term
Unlike the illusion that Blue Hill is promoting, the value creation and other benefits from the Hope Bancorp merger are real and achievable.
The merger will also create significant benefits for our customers, employees and local Hawai‘i communities. Hope Bancorp values the relationships we have established and wants to build on them.
The Territorial Board Continues to Recommend that Shareholders Vote FOR the Hope Bancorp Merger
The Territorial Board takes its fiduciary responsibilities seriously. Absent more information from Blue Hill, there is no basis to engage with Blue Hill or reach a determination that their illusory, non-binding, highly conditional preliminary indication of interest is superior, likely to lead to a superior proposal, or is in Territorial shareholders’ best interests.
In contrast, with Hope Bancorp, we will become part of a larger, more diversified regional bank, unlocking new value creation opportunities for shareholders while building on our more than 100-year legacy of serving and supporting our local Hawai‘i communities.
We are on a path to complete the Hope Bancorp transaction by the end of this year, subject to the condition that a majority of our shares are voted in favor of it. Your vote is important – no matter how many, or how few, shares you own. Every vote counts.
So please, join me and the entire Territorial Board and management team by voting FOR the Hope Bancorp merger by internet, phone or mail today.
Sincerely
Allan S. Kitagawa
Chairman of the Board, President and Chief Executive Officer
| Your Vote Is Important, No Matter How Many or How Few Shares You Own! |
| Please take a moment to vote FOR the proposals set forth on the enclosed proxy card — by Internet, telephone toll-free or by signing, dating and returning the enclosed proxy card or voting instruction form. Vote well in advance of the Special Meeting on November 6, 2024 at 8:30 a.m. Hawaiʻi Time.
If you have questions about how to vote your shares, please contact: |
| Laurel Hill Advisory Group
Call toll-free: (888) 742-1305 |
About Us
Territorial Bancorp Inc., headquartered in Honolulu, Hawaiʻi, is the stock holding company for Territorial Savings Bank. Territorial Savings Bank is a state-chartered savings bank which was originally chartered in 1921 by the Territory of Hawaiʻi. Territorial Savings Bank conducts business from its headquarters in Honolulu, Hawaiʻi, and has 28 branch offices in the state of Hawaiʻi. For additional information, please visit https://www.tsbhawaii.bank/.
Additional Information about the Hope Merger and Where to Find It
In connection with the proposed Hope Merger, Hope has filed with the U.S. Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4, containing the Proxy Prospectus, which has been mailed or otherwise delivered to Territorial’s stockholders on or about August 29, 2024, as supplemented September 12, 2024. Hope and Territorial may file additional relevant materials with the SEC. INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE PROXY PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR FURNISHED OR WILL BE FILED OR FURNISHED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. You may obtain any of the documents filed with or furnished to the SEC by Hope or Territorial at no cost from the SEC’s website at http://www.sec.gov.
Forward-Looking Statements
Some statements in this news release may constitute 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. These forward-looking statements relate to, among other things, expectations regarding the low-cost core deposit base, diversification of the loan portfolio, expansion of market share, capital to support growth, strengthened opportunities, enhanced value, geographic expansion, and statements about the proposed transaction being immediately accretive. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward-looking statements, Territorial Bancorp claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Hope Bancorp’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The closing of the proposed transaction is subject to regulatory approvals, the approval of Territorial Bancorp stockholders, and other customary closing conditions. There is no assurance that such conditions will be met or that the proposed merger will be consummated within the expected time frame, or at all. If the transaction is consummated, factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: difficulties and delays in integrating Hope Bancorp and Territorial Bancorp and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; deposit attrition, operating costs, customer loss and business disruption following the merger, including difficulties in maintaining relationships with employees and customers, may be greater than expected; and required governmental approvals of the merger may not be obtained on its proposed terms and schedule, or without regulatory constraints that may limit growth. Other risks and uncertainties include, but are not limited to: possible further deterioration in economic conditions in Hope Bancorp’s or Territorial Bancorp’s areas of operation or elsewhere; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying Hope Bancorp’s or Territorial Bancorp’s allowances for credit losses; potential increases in deposit insurance assessments and regulatory risks associated with current and future regulations; the outcome of any legal proceedings that may be instituted against Hope Bancorp or Territorial Bancorp; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of either or both parties to the proposed transaction; and diversion of management’s attention from ongoing business operations and opportunities. For additional information concerning these and other risk factors, see Hope Bancorp’s and Territorial Bancorp’s most recent Annual Reports on Form 10-K. Hope Bancorp and Territorial Bancorp do not undertake, and specifically disclaim any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.
Investor / Media Contacts:
Walter Ida
SVP, Director of Investor Relations
808-946-1400
walter.ida@territorialsavings.net
i Based on Territorial and Hope Bancorp’s closing prices as of 4/26/24 (day before merger announcement)
ii Based on 0.8048 fixed exchange ratio and Hope Bancorp’s $0.14 current per share dividend
Source: GlobeNewswire (MIL-OSI)
RANCHO CUCAMONGA, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) — iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a tech and data-driven ecommerce services provider and online retailer, today announced the successful shipment of its first purchase order (PO) from Vietnam in September. This marks a significant milestone in iPower’s ongoing strategy to diversify its supply chain and expand its global reach.
Building on its previous engagements with manufacturers in Vietnam, iPower is now realizing the first tangible outcomes of this collaboration. The initial PO was shipped in September, with additional shipments scheduled for this month and continuing thereafter. By diversifying the Company’s supply chain with global partners, iPower ensures greater stability and efficiency while reducing reliance on specific regions.
The expansion into Vietnam presents meaningful cost-saving opportunities for iPower. As products begin to arrive in the U.S. and commence sales, the Company anticipates benefiting from reduced production and logistics expenses. These lower costs will enable iPower to offer more competitive pricing while improving margins, an essential factor for long-term, sustainable growth.
iPower remains dedicated to expanding and diversifying its supply chain to build a more resilient and efficient global network. Collaborating with Vietnamese manufacturers is a key component of a larger strategy to explore new sourcing opportunities across the globe. This initiative is aimed at bolstering iPower’s capabilities to meet growing consumer demand while reinforcing its competitive position in the marketplace.
“The shipment of our first purchase order from Vietnam marks a critical milestone in our supply chain diversification strategy,” said Lawrence Tan, CEO of iPower. “By reducing costs and expanding our global reach, we are positioning iPower for greater efficiency and long-term stability. We look forward to continuing our efforts to diversify and strengthen our supply chain through future shipments and strategic partnerships.”
About iPower Inc.
iPower Inc. is a tech and data-driven online retailer, as well as a provider of value-added ecommerce services for third-party products and brands. iPower’s capabilities include a full spectrum of online channels, robust fulfillment capacity, a network of warehouses serving the U.S., competitive last mile delivery partners and a differentiated business intelligence platform. iPower believes that these capabilities will enable it to efficiently move a diverse catalog of SKUs from its supply chain partners to end consumers every day, providing the best value to customers in the U.S. and other countries. For more information, please visit iPower’s website at http://www.meetipower.com.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
IPW@elevate-ir.com
Source: GlobeNewswire (MIL-OSI)
EMERYVILLE, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) — NMI Holdings, Inc. (NASDAQ: NMIH), the parent company of National Mortgage Insurance Corporation (National MI), today announced that it will report results for its third quarter ended September 30, 2024 after the market close on Wednesday, November 6, 2024.
The company will hold a conference call and live webcast at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time. The webcast will be available on the company’s website at https://ir.nationalmi.com/events-and-presentations. The call can be accessed by dialing (844) 481-2708 in the U.S. or (412) 317-0664 internationally by referencing NMI Holdings, Inc.
A replay of the webcast as well as the earnings press release and any supplemental information will be available on the company’s website.
Investor Day Registration Reminder
NMI Holdings will host its annual Investor Day on Thursday, November 21, 2024, from 9:00 am to
11:30 am Eastern Time at the St. Regis Hotel in New York City. The event will be live streamed at NMIH 2024 Investor Day and on the company’s website at https://ir.nationalmi.com/events-and-presentations. Presentation materials will be available in advance of the event and archived on the company’s website at https://ir.nationalmi.com/events-and-presentations. A replay of the webcast will be archived and available on the company’s website following the event.
NMI Holdings, Inc. Annual Investor Day
November 21, 2024
9:00 am – 11:30 am ET
St. Regis Hotel, Two East 55th Street at Fifth Avenue
New York, NY 10022
To register for the event, please follow the link below:
Register Now
To register via email: investor.relations@nationalmi.com.
About NMI Holdings
NMI Holdings, Inc. (NASDAQ: NMIH) is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based, private mortgage insurance company enabling low-down-payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower’s default. To learn more, please visit http://www.nationalmi.com.
Investor Contact
Gregory Epps
Manager, Investor Relations and Treasury
Gregory.Epps@Nationalmi.com
Source: GlobeNewswire (MIL-OSI)
~ Enhancing Cross Border Payments ~
ABU DHABI, United Arab Emirates and NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) — DigiAsia Corp. (NASDAQ: FAAS) (“DigiAsia” or the “Company”), a leading Fintech as a Service (FaaS) ecosystem provider, has announced a strategic collaboration with Digit9, the cross-border payments orchestration platform developed by LuLu Money Singapore, a wholly owned subsidiary of Abu Dhabi-based LuLu Financial Holdings.
The partnership with Digit9 will enhance DigiAsia’s offering and competitiveness in servicing the cross-border payments needs for Indonesian consumers and SMEs in Indonesia and the GCC.
Further, DigiAsia will be able to leverage Digit9’s wide network of partners and the ability to facilitate cross-border payments in more than 150 markets globally, to create efficient and cost-effective cross-border payment rails to further support Indonesian consumers and SMEs.
DigiAsia estimates that the partnership with Digit9 will generate an estimated US$250mn volume annually in cross-border payments.
DigiAsia and Digit9 will continue strategic partnership discussions and look to launch innovative products and services in the cross-border payments space in the near future.
About DigiAsia
DigiAsia is a leading Fintech as a Service (FaaS) provider operating a B2B2X model offering its complete Fintech solution in emerging markets. DigiAsia’s fintech architecture offers small and medium business enterprises (SMEs) comprehensive embedded finance APIs to streamline processes across the commerce value chain of distributors and customers. DigiAsia’s embedded fintech solutions equally address democratizing digital finance access that supports financial inclusion of underbanked merchants and consumers in emerging markets resulting in growth for enterprise business. The suite of B2B2X solutions provided by DigiAsia include, but are not limited to, cashless payments, digital wallets, digital banking, remittances and banking licenses. DigiAsia has recently established a strategic initiative to develop its embedded FaaS enterprise solution with AI capabilities in Southeast Asia, India, and the Middle East, with plans for global expansion. For more information, please visit DigiAsia’s Corporate website here or Investor Relations website here.
About Digit9
Digit9 is a payments orchestration platform tailored to meet the diverse needs of financial institutions. It seamlessly integrates an array of payment methods, banks, and service providers, simplifying the complexities of cross-border payments. Digit9 has been developed by LuLu Money Singapore, a wholly owned subsidiary of LuLu Financial Holdings.
About LuLu Financial Holdings
LuLu Financial Holdings is a leading global financial services provider, offering a wide range of services including cross-border payments, currency exchange, and financial technology solutions. With over 350 customer engagement centers in over 10 countries and a commitment to innovation and customer satisfaction, LuLu Financial Holdings continues to set benchmarks in the financial services industry.
Forward-Looking Statements:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning DigiAsia and the Company’s operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. DigiAsia cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world including those discussed in DigiAsia’s Form 20-F under the headings “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and DigiAsia specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.
DigiAsia Company Contact:
Subir Lohani
Chief Financial Officer and Chief Strategy Officer
646-480-0142
Lulu Financial Holdings Company Contact:
Ajit Johnson
Head of Strategic Business Relations
ajit.johnson@lulufin.com
Investor Contact:
MZ North America
Email: FAAS@mzgroup.us
Source: Samsung
Samsung, India’s largest consumer electronics brand, today announced the launch of its highly anticipated Galaxy Ring in India. Providing a sleek, stylish and compact form factor, this latest addition to the wearable’s portfolio is central to Samsung’s vision for Galaxy AI to enhance digital health, delivering personalized insights and tailored health experiences to customers.
The launch of Galaxy Ring marks a new step in active and autonomous health management, moving beyond mere monitoring to offer users valuable guidance for healthier lifestyles. Galaxy Ring features advanced sensors that provide insights to help users understand their lifestyle patterns, helping them to manage their health goals.
Designed for 24/7 health monitoring, Galaxy Ring offers a simple approach to everyday wellness. Blending timeless style with revolutionary functionality, it will be available in 9 different sizes, ranging from Size 5 to Size 13. Weighing just 2.3 grams for Size 5 with a width of just 7.0 mm, Galaxy Ring is ultra-lightweight, making it ideal for all-day wear. The weight of Galaxy Ring varies with size, going up to 3 grams for the biggest size (Size 13). Its distinct concave design adds a touch of elegance while maintaining durability. Despite its size, the device offers up to 7 days of battery life encased in a specially designed charging case that features aesthetic LED lighting to indicate charging status. The charging case comes with a clamshell design reminiscent of a jewellery box.
Engineered with premium materials, including a titanium finish for enhanced durability, Galaxy Ring is IP68 water- and dust-resistant and can withstand depths of up to 100 meters with its 10ATM rating. This makes Galaxy Ring a sophisticated yet rugged accessory, perfect for all use cases.
“The launch of Galaxy Ring marks a massive leap in Samsung’s commitment to democratize cutting-edge technology for everyone, helping users turn data in to meaningful insights and create a whole new era of expanded, intelligent health experiences. Galaxy Ring is not just another wearable, it’s a revolutionary health-tech device that blends innovation with accessibility. With advanced AI-driven insights, 24/7 health monitoring and a sleek, lightweight design, it empowers users to seamlessly track their wellness anytime, anywhere. With Galaxy Ring, we’re paving the way for a healthier, more connected future for all,” said Aditya Babbar, Vice President, MX Business, Samsung India.
Powered by Samsung’s proprietary “Health AI”, Galaxy Ring delivers real-time insights intuitively, so users can simply wear it and let the AI-driven insights work in the background, providing personalized recommendations and wellness tips. All data and insights are integrated into Samsung Health for seamless access within one cohesive platform without a subscription.
Starting with sleep, Galaxy Ring features Samsung’s best-in-class sleep analysis and a powerful sleep AI algorithm. Along with Sleep Score and snoring analysis, new sleep metrics such as movement during sleep, sleep latency, heart and respiratory rate provide a detailed and accurate analysis of sleep quality.
Additionally, Galaxy AI generates a detailed health report that includes health metrics like Energy Score to enhance consumer’s awareness of the ways their health influences your daily life. This score is calculated by evaluating physical and mental capacity across four significant factors: Sleep, Activity, Sleeping Heart Rate and Sleeping Heart Rate Variability. In addition, the Wellness Tips feature is driven by comprehensive data and provides personalized insights according to user’s goals. Galaxy Ring also supports everyday wellness monitoring, allowing users to stay informed about heart health with HR monitoring providing alerts for high/low heart rates. Galaxy Ring is able to auto-detect workouts (walking & running) as well as provides inactive alerts to users keeping them motivated to achieve their goals. Furthermore, Galaxy Smartphone consumers can activate simple Gesture controls (like double pinch) on Galaxy Ring to easily take photos or dismiss alarms. Furthermore, Galaxy Ring works seamlessly when worn simultaneously with Samsung Galaxy Watch providing enhanced accuracy of health and wellness tracking and improved battery life (up to 30%)
Design, Availability and Pricing
Galaxy Ring starts at INR 38999 and will be available on Samsung.com, select retail stores, Amazon.in and Flipkart.com.
Empowering consumers to stay true to their personal style with three colour choices — Titanium Black, Titanium Silver and Titanium Gold, Galaxy Ring is poised to fit comfortably on users’ fingers like a traditional ring. Customers who are unsure about their ring size have the option to first get a sizing kit to verify the best fit before purchasing Galaxy Ring.
Customers can also purchase the Galaxy Ring starting at just INR 1,625 per month with 24 months No Cost EMI across leading bank cards as well as financing through Samsung Finance+ and Bajaj Finance. In addition, Samsung is also offering a 25W Travel adapter to customers who purchase Galaxy Ring until 18th October, 2024.
Source: GlobeNewswire (MIL-OSI)
PETAH TIKVA, Israel, Oct. 16, 2024 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that it will be presenting at the 17th annual LD Micro Invitational on Wednesday, October 30, at 8 am PT at the Luxe Sunset Boulevard Hotel in Los Angeles. Gil Benyamini, Chief Financial Officer, will be giving the Gilat presentation.
In addition, Mr. Benyamini, Gilat’s CFO and Ms. Mayrav Sher (Head of Finance & IR) will be available for one-on-one meetings with investors throughout the conference days. To schedule a meeting please contact an LD Micro representative or email a request to the Gilat investor relations team at Mayravs@gilat.com.
We invite interested parties to register to watch the presentation remotely at Here.
About LD Micro
LD Micro, a wholly owned subsidiary of Freedom US Markets, was founded in 2006 with the sole purpose of being an independent resource in the micro-cap space. Whether it is the Index, comprehensive data, or hosting the most significant events annually, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies. For more information on LD Micro, visit http://www.ldmicro.com.
Please reach out to the company representative below or Dean Summers (dean@ldmicro.com) to register for the event and schedule a meeting with the company.
To learn more about Freedom US Markets, visit http://www.freedomusmkts.com.
About Gilat
Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground, and new space connectivity and provide comprehensive, secure end-to-end solutions and services for mission-critical operations, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.
Our portfolio includes a diverse offering to deliver high-value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software-defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high-performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.
Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: http://www.gilat.com
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the current terrorist attacks by Hamas, and the war and hostilities between Israel and Hamas and Israel and Hezbollah. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.
Contact:
Gilat Satellite Networks
Hagay Katz, Chief Products and Marketing Officer
hagayk@gilat.com
Gilat Satellite Networks
Mayrav Sher, Head of Finance and Investor Relations
mayravs@gilat.com
Source: GlobeNewswire (MIL-OSI)
NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) — Medallion Financial Corp. (NASDAQ: MFIN, the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries, as well as loan products and services offered through fintech strategic partners, announced today that it will report its results for the quarter ended September 30, 2024, after the market closes on Tuesday, October 29, 2024.
CONFERENCE CALL AND WEBCAST INFORMATION
A conference call to discuss the financial results will be held the next morning, October 30, 2024.
How to Participate
A link to the live audio webcast of the conference call will also be available at the Company’s IR website.
Replay Information
The webcast replay will be available at the Company’s IR website until the next quarter’s results are announced.
The conference call replay will be available following the end of the call through Wednesday, November 6.
INDIVIDUAL MEETING INFORMATION
To increase relations with institutional investors, management has dedicated time to hosting individual meetings with portfolio managers and analysts after its earnings conference call. If you are interested in scheduling a meeting with management, please contact investorrelations@medallion.com or (212) 328-2176.
About Medallion Financial Corp.
Medallion Financial Corp. (NASDAQ:MFIN) and its subsidiaries originate and service a growing portfolio of consumer loans and mezzanine loans in various industries. Key industries served include recreation (towable RVs and marine) and home improvement (replacement roofs, swimming pools, and windows). Medallion Financial Corp. is headquartered in New York City, NY, and its largest subsidiary, Medallion Bank, is headquartered in Salt Lake City, Utah. For more information, please visit http://www.medallion.com.
Company Contact:
Investor Relations
212-328-2176
InvestorRelations@medallion.com
Source: GlobeNewswire (MIL-OSI)
CHICAGO, Oct. 16, 2024 (GLOBE NEWSWIRE) — LanzaTech Global, Inc. (NASDAQ: LNZA) (“LanzaTech” or the “Company”), the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein, has been awarded $3 million by the U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM), as part of a broader $29 million investment program to advance its carbon management priorities. LanzaTech’s Project ADAPT (“Accelerating Decarbonization via Advanced Production Technologies”) was selected to address FECM’s priority of converting carbon dioxide (CO2) into environmentally responsible and economically valuable products.
LanzaTech’s Project ADAPT builds upon the Company’s existing capabilities of using CO2 as a feedstock to produce isopropanol at a pilot scale and aims to advance the process and platform with the following key focus areas:
Isopropanol is a common alcohol used in an array of everyday products such as cleaning agents and is also a precursor to the propylene value chain. Propylene, which is a building block for packaging, medical supplies, automotive products, among many other applications, has a thriving demand market that is projected to approach $150 billion and 180 million tons by 2030. Importantly, isopropanol production has the ability to achieve greenhouse gas savings of over 200% when produced from recycled CO2 instead of fossil carbon, and a non-fossil commercial production pathway does not exist today.
Project ADAPT will primarily be funded by the FECM investment of $3 million and includes a Company funded cost share portion of approximately $0.8 million, totaling an estimated project cost of $3.8 million. Revenue and costs related to this project will be reported as Joint Development Agreement and Contract Research results for LanzaTech, and the majority of revenue is expected to be received and benefit financial results in 2025 and 2026.
“We are thrilled to receive this support from the U.S. Department of Energy to progress our work around scaling the conversion of waste CO2 to make some of the world’s most needed chemicals,” said Dr. Jennifer Holmgren, CEO of LanzaTech. “CO2 is an essential feedstock of today and the future, and Project ADAPT leverages our expertise and existing operations to accelerate the commercialization of transformational carbon capture and utilization technologies that deliver cleaner and more sustainable energy and products.”
The projects supported by FECM’s investment program are in keeping with the Biden-Harris Administration’s aggressive climate ambitions of reaching a carbon-neutral power sector by 2035 and net-zero greenhouse gas emissions by 2050.
About LanzaTech
LanzaTech Global, Inc. (NASDAQ: LNZA) is the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein for everyday products. Using its biorecycling technology, LanzaTech captures carbon generated by energy-intensive industries at the source, preventing it from being emitted into the air. LanzaTech then gives that captured carbon a new life as a clean replacement for virgin fossil carbon in everything from household cleaners and clothing fibers to packaging and fuels. By partnering with companies across the global supply chain like ArcelorMittal, Zara, H&M Move, Coty, On, and LanzaJet, LanzaTech is paving the way for a circular carbon economy. For more information about LanzaTech, visit https://lanzatech.com.
Forward Looking Statements
This press release includes forward-looking statements regarding, among other things, the plans, strategies, and prospects, both business and financial, of LanzaTech. These statements are based on the beliefs, assumptions, projections and conclusions of LanzaTech’s management. Forward-looking statements are inherently subject to risks, uncertainties and assumptions, many of which are outside LanzaTech’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. LanzaTech cannot assure you that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are not guarantees of future performance, conditions or results, and you should not rely on forward-looking statements.
Generally, statements that are not historical facts, including those concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or similar expressions. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following:
Any forward-looking statement herein is based only on information currently available to LanzaTech and speaks only as of the date on which it is made. LanzaTech undertakes no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
LanzaTech Global, Inc.
Investor Relations
Kate Walsh
VP, Investor Relations & Tax
Investor.Relations@lanzatech.com
Media Relations
Kit McDonnell
Director of Communications
press@lanzatech.com
Source: Huawei
Headline: Huawei Globally Unveils Intelligent Campus 2030 White Paper
Oct 16, 2024
[Dubai, UAE, October 16, 2024] During GITEX Global 2024, Huawei released the Intelligent Campus 2030 white paper for markets outside China at the forum Redefining Intelligent Campus with ICTs, Maximizing Enterprises’ Intelligent Productivity with Xinghe Intelligent Campus. This white paper envisions the future of the intelligent campus.
David Shi, Vice President of Huawei’s ICT Marketing & Solution Sales Dept, delivered an opening speech at the forum. He highlighted that as digital technology advances, the intelligent connectivity of everything will become a reality, which will allow campuses to be fully digital and intelligent. He added that future campuses will become fully perceptible, collaborative, and constantly online smart buildings that are capable of self-learning, self-troubleshooting, and making decisions and executing them independently. “Huawei is committed to bringing digital to every campus for pervasive intelligence and has been deeply involved with intelligent campuses for many years. We have proposed to redefine campuses with ICTs and have leveraged the advantages of our product portfolios to reshape campus connectivity, platform, and business. Up to now, we have helped over 1000 customers worldwide build secure, green, digital, and intelligent campuses,” said David Shi.
David Shi, Vice President of ICT Marketing & Solution Sales Dept, Huawei
Eric He, CEO of Huawei Campus Team, said in his speech that revolutions in energy and information take us closer to the intelligent world, where campuses will play a crucial role. As Eric He explains, we have entered the stage of intelligent campus 2.0, which is 10 Gbps, digital, intelligent, and green. During this stage, campus networks will evolve from simply transmitting data to providing quality connections, campus platforms will move beyond integrating IoT to providing data intelligence, and extensive business management will be upgraded to low-carbon operations. “Relying on ICTs to redefine campuses, Huawei looks forward to working with customers and industry peers to innovate as well as envision and build intelligent campus 2030,” he said.
Eric He, CEO of Huawei Campus Team
Hawn Zhao, President of the Campus Network Domain, Data Communication Product Line, Huawei, introduced Huawei’s Xinghe Intelligent Campus Solution at the forum. As enterprises are witnessing a surge in the number of devices and video conferences, their digital and intelligent office requires improved network performance, security, experiences, and O&M. Huawei’s all-scenario Wi-Fi 7 products can strengthen signals by 100% and improve concurrency by 50%. In addition, Huawei’s application experience assurance solution ensures smooth video conferences and protects VIP services from being compromised, while the Wi-Fi Shield prevents data eavesdropping to ensure 100% network security.
Helping Customers Advance Digital and Intelligent Transformation
Ibrahim Al Kindi, IT Director of the Arab Authority for Agricultural Investment and Development (AAAID), shared AAAID’s experience in intelligent campus construction. AAAID and Huawei have collaborated to enhance its office experiences in five areas: seamless access, intelligent office conferences, full wireless network coverage, AI-based building control, and centralized IoT device access. Ibrahim Al Kindi stated that this is just the beginning of a new era of intelligent office, and AAAID will continue to explore the digital and intelligent transformation of the office field.
Fahad Daghriri, Chief Information Officer of Technical and Vocational Training Corporation (TVTC) in Saudi Arabia, shared how TVTC built an intelligent campus network with the help of Huawei. This network allows for wide coverage, high performance, and efficient O&M, improving mobile office for teachers and studying for students. “Our collaboration aims to achieve a win-win situation, promote digital transformation, build a one-stop campus network, create a smart education platform, and lay a solid foundation for long-term development,” said Fahad Daghriri.
Releasing the Intelligent Campus 2030 White Paper
Huawei globally unveils the Intelligent Campus 2030 white paper
The campus is a basic unit in the making of a city. It is the main place where people live and work. It acts as an important carrier to boost the digital economy, and a key point to realize green and low-carbon transformation. In recent years, the industry has conducted in-depth exploration and cultivated practices surrounding the intelligent campus. Huawei, along with industry experts and scholars, provides insights into its future in the Intelligent Campus 2030 white paper.
Based on the insights into and practices of global intelligent campuses, this white paper proposes a far-sighted definition of future intelligent campus along with visions for its advancement. It outlines five trends that affect intelligent campus development, systematically depicts 10 typical future scenarios, and defines six key technical features of future intelligent campuses for the first time. Innovatively, the white paper proposes a unique reference architecture for the intelligent campus and 22 quantitative indicators to predict the prospects of intelligent campuses, guiding their implementation and construction.
Click the link to read more about the white paper: https://www.huawei.com/en/giv/intelligent-campus-2030
Source: GlobeNewswire (MIL-OSI)
CHICAGO and MILWAUKEE and NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ ETFs listed in the table below.
| ETF Ticker1 |
ETF Name | Reference Asset |
Distribution per Share |
Distribution Frequency |
Distribution Rate2,4,5 |
30-Day SEC Yield3 |
Ex-Date & Record Date |
Payment Date |
|||
| YMAX | YieldMax™ Universe Fund of Option Income ETFs | Multiple | $0.1747 | Weekly | 51.97% | 62.93% | 10/17/2024 | 10/18/2024 | |||
| YMAG | YieldMax™ Magnificent 7 Fund of Option Income ETFs | Multiple | $0.2261 | Weekly | 62.33% | 50.85% | 10/17/2024 | 10/18/2024 | |||
| CONY | YieldMax™ COIN Option Income Strategy ETF | COIN | $1.1098 | Every 4 Weeks | 101.35% | 3.70% | 10/17/2024 | 10/18/2024 | |||
| FIAT | YieldMax™ Short COIN Option Income Strategy ETF | COIN | $1.4513 | Every 4 Weeks | 105.76% | 3.22% | 10/17/2024 | 10/18/2024 | |||
| MSFO | YieldMax™ MSFT Option Income Strategy ETF | MSFT | $0.5077 | Every 4 Weeks | 33.76% | 3.33% | 10/17/2024 | 10/18/2024 | |||
| AMDY | YieldMax™ AMD Option Income Strategy ETF | AMD | $0.9212 | Every 4 Weeks | 84.48% | 3.24% | 10/17/2024 | 10/18/2024 | |||
| NFLY | YieldMax™ NFLX Option Income Strategy ETF | NFLX | $0.7929 | Every 4 Weeks | 59.84% | 3.45% | 10/17/2024 | 10/18/2024 | |||
| ABNY | YieldMax™ ABNB Option Income Strategy ETF | ABNB | $0.8003 | Every 4 Weeks | 61.67% | 2.84% | 10/17/2024 | 10/18/2024 | |||
| PYPY | YieldMax™ PYPL Option Income Strategy ETF | PYPL | $1.1042 | Every 4 Weeks | 75.73% | 2.94% | 10/17/2024 | 10/18/2024 | |||
| ULTY | YieldMax™ Ultra Option Income Strategy ETF | Multiple | $0.8267 | Every 4 Weeks | 100.99% | 0.00% | 10/17/2024 | 10/18/2024 | |||
| Scheduled for next week: YMAX YMAG MSTY YQQQ AMZY APLY AIYY DISO SQY SMCY | |||||||||||
The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.
Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.
Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.
Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).
1All YieldMax™ ETFs (except YMAX,YMAG and ULTY) have a gross expense ratio of 0.99%. YMAX and YMAG have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio of 1.24% but the investment adviser has agreed to a 0.10% fee waiver through at least February 28, 2025.
2The Distribution Rate shown is as of close on October 15, 2024. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended September 30. 2024, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period. As of such date, the ULTY subsidized and unsubsidized 30-Day SEC Yields were 0.00% and 0.00%, respectively. The subsidized yield reflects fee waivers in effect while the unsubsidized yield does not adjust for any fee waivers in effect.
4 Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
5 As of the date hereof, distributions for the following ETFs have included return of investor capital: TSLY, OARK, APLY, AMZY, NVDY, GOOY, JPMO, XOMO, PYPY, CONY, DISO, FBY, MSFO, NFLY, SQY, AMDY, MRNY, AIYY, MSTY, ULTY, YMAX, YMAG, YBIT, SNOY, CRSH,GDXY and FIAT. For additional information, please visit http://www.YieldMaxETFs.com/TaxInfo.
Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.
Standardized Performance
For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here
Prospectuses
Click here.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are in the prospectus. Please read the prospectuses carefully before you invest.
There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.
Tidal Financial Group is the adviser for all YieldMax™ ETFs and ZEGA Financial is their sub-adviser.
THE FUND, TRUST, AND SUB-ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.
Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)
YMAX and YMAG generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.
Investing involves risk. Principal loss is possible.
Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer time periods.
Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.
Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.
Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.
Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.
High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.
Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.
Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.
Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTY), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.
Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.
Risk Disclosures (applicable only to BABO and TSMY)
Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.
Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.
Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.
Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.
Risk Disclosures (applicable only to GDXY)
Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.
Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.
The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.
Risk Disclosures (applicable only to YBIT)
YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.
Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.
Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.
Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.
Risk Disclosures (applicable only to the Short ETFs)
Investing involves risk. Principal loss is possible.
Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.
Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer time periods.
Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.
Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.
Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.
Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.
Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.
High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.
Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.
Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.
Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.
Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.
Risk Disclosures (applicable only to YQQQ)
Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.
Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.
Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given time period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.
YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs or ZEGA Financial.
© 2024 YieldMax™ ETFs
Source: New South Wales Ministerial News
Supporting Australian storytelling, developing the next generation of creative talent, and a plan to grow the digital games sector are the key priorities of the new three-year screen and digital games strategy.
The NSW screen industry added almost $1.1 billion to the state economy in 2021-22 and is currently home to 51% of Australia’s screen production, and 49% of post-production businesses. To ensure NSW remains the leading screen state, the NSW Screen and Digital Games Strategy will:
Invest in developing local talent and audiences, including:
Role of Screen NSW
Supporting infrastructure
Focus on developing digital games industry
The $466 billion global digital gaming industry is highlighted as an enormous opportunity. New incentives to support games production and increase NSW revenue for digital games to $406.39 million in 2027-28 include:
Minister for the Arts John Graham said:
“Our people, our stories, and our skills – these are the reasons why more than half of Australian screen production happens here in NSW. This strategy sets out how the government and the industry could work together to build on that.
“While there has been a recent slowdown in global screen production, the Federal Government’s increased location offset will see Australia gain a greater share of that market. This strategy recognises the opportunities that brings, as well as the pressure that puts on NSW production facilities.
“We have identified ways of cutting the red tape that has made NSW a ‘No’ state when it comes to attracting productions. Backed by the introduction of a NSW Screen and Digital Games Act, we aim to make NSW a ‘Yes’ state.
“For the first time in NSW, we are putting digital gaming front and centre. This strategy sets out a ‘hothouse’ approach that backs existing high performing producers to support the ambitious target of 20% compound annual growth in the sector.”
Head of Screen NSW Kyas Hepworth said:
“I am thrilled to be able to drive this strategy and provide a path forward for our sector, working towards a vibrant and sustainable future for all screen practitioners and game makers in NSW.
“Storytelling has the power to unite and inspire, and as a state with such a rich depth of talent, we strive to be known as the place to create compelling stories. This is an exciting time for our sector as, while developing this strategy, we have taken stock of where the industry is at and looked forward to where we want to be in the next three years. This has informed our strategy and with this vital support we want to move forward with the industry and take it to new heights.
“I am confident this strategy will provide assurance that Screen NSW are committed to supporting NSW stories and storytellers.”
Background
The strategy outlines four strategic priority focuses to support and sustainably grow the screen and digital games sector. These include:
New legislation: The strategy includes proposed new legislation to ensure screen friendly approaches across local councils and state government agencies.
In 2025, the NSW Government will introduce the NSW Screen and Digital Games Act to strengthen NSW as a film-friendly jurisdiction, reduce red-tape and provide the highest level of cooperation across government with filmmakers to maximise opportunities for the sector. This will strengthen elements of the Making NSW Film Friendly Premier’s Memorandum and incorporate an updated Local Government Filming Protocol.
Renewed Screen NSW agency: The strategy will provide Screen NSW with greater independence and will build its capacity to continue to strengthen and grow the industry. This will mean:
The full strategy available is here: Screen NSW – NSW Screen and Digital Games Strategy
Source: Government of India
Coalition for Disaster Resilient Infrastructure (CDRI), an initiative of India now has 47 member countries and is providing technical assistance and capacity-building for investing in disaster-resilient infrastructure
Posted On: 16 OCT 2024 12:31PM by PIB Delhi
A high-level Indian delegation, led by Union Minister of State for Home Affairs, Shri Nityanand Rai, participated in Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) 2024 in Manila, Philippines. The Conference was inaugurated by the President of the Republic of Philippines, Mr. Bongbong Marcos. The conference under the theme “Surge to 2030: Enhancing ambition in Asia Pacific to accelerate disaster risk reduction” brought together Ministers and policymakers from across Asia-Pacific region to discuss strategies for reducing disaster risks in the face of increasing climate related challenges.
In Ministerial Statement, Minister of State for Home Affairs, Shri Nityanand Rai acknowledged that disasters are undeniable reality, with increasing losses of lives, economies and overall development. He emphasised India’s commitment to implementing inclusive and proactive actions to mitigate the impact of disasters, in line with the Prime Minister Shri Narendra Modi’s 10-point agenda for Disaster Risk Reduction (DRR) strategies.
The Minister focused on the key priorities in Disaster Risk Reduction (DRR) viz. Early Warning System (EWS) and Early Action, Disaster Resilient Infrastructure and Financial Provisions for DRR. Minister of State emphasised on the modern technologies for EWS such as the Common Alerting Protocol (CAP) and Cell Broadcast Systems, establishment of the Indian Tsunami Early Warning Centre (ITEWC), which provides Tsunami advisories to 25 Indian Ocean countries for last- mile connectivity.
Shri Nityanand Rai highlighted India’s leadership in promoting infrastructure resilience as a cornerstone of sustainable development and said Coalition for Disaster Resilient Infrastructure (CDRI), an initiative of India now has 47 member countries and is providing technical assistance and capacity-building for investing in disaster-resilient infrastructure.
Minister of State for Home Affairs also informed that India is one of the few countries with dedicated financial provisions for DRR through institutional mechanisms and the 15th Finance Commission of India has allocated USD 30 billion for the National Disaster Risk Management Fund (NDRMF) and State Disaster Risk Management Fund (SDRMF) for the financial cycle 2021-22 to 2025-26.
*****
RK/VV/ASH
(Release ID: 2065249) Visitor Counter : 20
Source: City of Salford
Salford City Council has been awarded £1,615,000 of Brownfield Land Release Fund money to help transform Swinton.
The money will be spent on demolishing the former site at St Ambrose Barlow High School in Swinton and the fund will also allow for enabling works, land remediation and ground works.
Councillor Jack Youd, Deputy City Mayor and Lead Member for Finance, Support Services and Regeneration at Salford City Council said: “The award of the money after our bid is great news for Swinton.
“Council officers are now working to secure a demolition contract, which needs to be in place by the end of March 2025 to meet the funding requirements.”
The project has been funded by HM Government through the Brownfield Land Release Fund.
The One Public Estate programme is a partnership between the Office of Government Property in the Cabinet Office, the Local Government Association and the Ministry of Housing, Communities and Local Government (MHCLG). It provides practical and technical support and funding for public sector partners to deliver ambitious property-led programmes in collaboration.
Read more about a vision for Swinton’s future.
Source: Hong Kong Government special administrative region
The Fraser Institute published the Economic Freedom of the World 2024 Annual Report (2024 Report) today (October 16). Hong Kong ranks as the world’s freest economies among 165 economies, up by one place from last year. Among the five areas of assessment in the 2024 Report, Hong Kong ranks top in “Freedom to trade internationally” and “Regulation”, and its ranking in “Sound money” rises to third globally.
A spokesman for the Hong Kong Special Administrative Region (HKSAR) Government said, “For long, Hong Kong has fully leveraged the advantages of a free market, and maintained a free, open, effective and fair business environment. The ranking fully reflects the international recognition of these advantages.”
“Hong Kong’s free market and premier business environment are attributable to our distinctive institutional strengths of the ‘one country, two systems’ arrangement, including the practice of the common law system, robust rule of law, a judiciary that exercises powers independently, free flow of goods and factors of production such as capital, talent, and information, a simple tax system and low tax rates, a conducive business environment as well as efficient and transparent markets, a regulatory regime that adheres to international standards, among others. These factors have made Hong Kong an ideal city for doing business.
“Indeed, over 9 000 overseas and Mainland companies have chosen Hong Kong as their base to fully leverage Hong Kong’s roles and functions as a ‘super connector’ and a ‘super value-adder’. The current-term HKSAR Government has been proactively attracting enterprises to settle in Hong Kong and talent to come to Hong Kong for development, and the response has been overwhelmingly positive. Since the end of 2022, more than 100 prominent innovation and technology enterprises from around the world have decided to establish or expand their businesses in Hong Kong. These enterprises would invest a total of more than $50 billion in the city, creating more than 15 000 jobs. In the first nine months this year, Invest Hong Kong also assisted 470 Mainland and overseas enterprises to establish or expand their businesses in Hong Kong, up by around 57 per cent from the same period last year. In terms of attracting talent, from the end of 2022 to September this year, over 380 000 applications were received under various talent schemes, of which nearly 240 000 were approved, and around 160 000 people have arrived in Hong Kong. These figures underscore Hong Kong’s strong appeal to both overseas and Mainland enterprises and talent.
“Looking forward, with the staunch support of the country, we will proactively integrate into the overall national development, align with national development strategies, maintain and improve a free and open business environment, and continue to serve as a two-way springboard for attracting international enterprises to Hong Kong and supporting Mainland enterprises to ‘go global’. The Policy Address delivered by the Chief Executive today has set out clear directions, as well as specific and impactful policies and measures to reinforce and enhance Hong Kong’s status as an international financial, shipping and trading centre, build itself into an international hub for high-calibre talent, develop new quality productive forces tailored to local conditions, and foster collaboration with the Greater Bay Area, so as to further enhance Hong Kong’s development momentum, and promote the high-quality development of Hong Kong’s economy.
As to references on Hong Kong’s economic and other freedoms in the 2024 Report, the spokesman emphasised, “The HKSAR Government protects the rights and freedoms of Hong Kong residents in strict accordance with the Constitution and the Basic Law, and the interests of enterprises and investors are also fully safeguarded in accordance with the law. According to various surveys, foreign businesses in Hong Kong generally have confidence in Hong Kong’s rule of law. The HKSAR Government hopes that future assessments in Economic Freedom of the World can fully reflect the relevant facts.”
Source: GlobeNewswire (MIL-OSI)
SANTA CLARA, Oct. 16, 2024 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) announced today that it will report fiscal third quarter 2024 financial results on Tuesday, Oct. 29, 2024, after the close of market. Management will conduct a conference call to discuss these results at 5:00 p.m. EDT / 2:00 p.m. PDT. Interested parties are invited to listen to the webcast of the conference call via the AMD Investor Relations website ir.amd.com.
About AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn, Facebook and X pages.
AMD, the AMD Arrow logo and the combination thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.
Contact
Drew Prairie
AMD Communications
512-602-4425
drew.prairie@amd.com
Mitch Haws
AMD Investor Relations
408-749-3124
mitch.haws@amd.com