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  • MIL-OSI: STMicroelectronics Reports on Resolutions to be Proposed at the 2025 Annual General Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    PR N°C3324C

    STMicroelectronics Reports on Resolutions to be Proposed
    at the 2025 Annual General Meeting of Shareholders

    Amsterdam, March 27, 2025 – STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced the resolutions to be submitted for adoption at the Annual General Meeting of Shareholders (AGM) which will be held in Amsterdam, the Netherlands, on May 28, 2025.

    The resolutions, proposed by the Supervisory Board, are:

    • The adoption of the Company’s statutory annual accounts for the year ended December 31, 2024, prepared in accordance with International Financial Reporting Standards (IFRS). The 2024 statutory annual accounts1 were filed with the Netherlands Authority for the Financial Markets (AFM) on March 27, 2025 and are posted on the Company’s website (www.st.com) and the AFM’s website (www.afm.nl);
    • The distribution of a cash dividend of US$ 0.36 per outstanding share of the Company’s common stock, to be distributed in quarterly installments of US$ 0.09 in each of the second, third and fourth quarters of 2025 and first quarter of 2026 to shareholders of record in the month of each quarterly payment as per the table below;
    • The adoption of the remuneration for the members of the Supervisory Board;
    • The appointment of Werner Lieberherr, as member of the Supervisory Board, for a three-year term expiring at the end of the 2028 AGM, in replacement of Ms. Janet Davidson whose mandate will expire at the end of the 2025 AGM;
    • The reappointment of Ms. Anna de Pro Gonzalo, as member of the Supervisory Board, for a three-year term to expire at the end of the 2028 AGM;
    • The reappointment of Ms. Hélène Vletter-van Dort, as member of the Supervisory Board, for a three-year term to expire at the end of the 2028 AGM;
    • The appointment of PricewaterhouseCoopers Accountants N.V. as the Company’s external auditor for the financial years 2026-2029;
    • The appointment of PricewaterhouseCoopers Accountants N.V. to audit the Company’s sustainability reporting for the financial years 2026-2027, to the extent required by law;
    • The approval of the stock-based portion of the compensation of the President and CEO;
    • The approval of the stock-based portion of the compensation of the Chief Financial Officer;
    • The authorization to the Managing Board, until the conclusion of the 2026 AGM, to repurchase shares, subject to the approval of the Supervisory Board;
    • The delegation to the Supervisory Board of the authority to issue new common shares, to grant rights to subscribe for such shares, and to limit and/or exclude existing shareholders’ pre-emptive rights on common shares, until the end of the 2026 AGM;
    • The discharge of the members of the Managing Board; and
    • The discharge of the members of the Supervisory Board.

    The record date for all shareholders to participate at the Annual General Meeting of Shareholders will be April 30, 2025. The complete agenda and all relevant detailed information concerning the 2025 AGM, as well as all related AGM materials, are available on the Company’s website (www.st.com) and made available to shareholders in compliance with legal requirements as of March 27, 2025.

    Upon the completion by the Supervisory Board of an on-going nomination and selection process, the Company will further communicate on additional nominations to serve on the Supervisory Board, which will be proposed to the general meeting of shareholders.

    As for rule amendments from the Securities and Exchange Commission (SEC) and conforming FINRA rule changes, on US market the standard for settlement is the next business day after a trade or t+1. European settlement rule remains at t+2 for the time being.

    The table below summarizes the full schedule for the quarterly dividends:

                  Transfer between New York and Dutch registered shares restricted:
      In Europe in NYSE      
    Quarter Ex-dividend Date Record Date Payment Date Ex-dividend and Record Date Payment Date: on or after   From End of Business in NY on: Until Open of Business in NY on:
    Q2 2025 23-Jun-25 24-Jun-25 25-Jun-25 24-Jun-25 1-Jul-25   20-Jun-25 25-Jun-25
    Q3 2025 22-Sep-25 23-Sep-25 24-Sep-25 23-Sep-25 30-Sep-25   19-Sep-25 24-Sep-25
    Q4 2025 15-Dec-25 16-Dec-25 17-Dec-25 16-Dec-25 23-Dec-25   12-Dec-25 17-Dec-25
    Q1 2026 23-Mar-26 24-Mar-26 25-Mar-26 24-Mar-26 31-Mar-26   20-Mar-26 25-Mar-26

    About STMicroelectronics
    At ST, we are 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are on track to be carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027.

    Further information can be found at www.st.com.

    INVESTOR RELATIONS
    Jérôme Ramel
    EVP Corporate Development & Integrated External Communication
    Tel: +41.22.929.59.20
    jerome.ramel@st.com

    MEDIA RELATIONS
    Alexis Breton
    Corporate External Communications
    Tel: +33.6.59.16.79.08
    alexis.breton@st.com

    1    The Annual Report includes the sustainability statement which is prepared based on the general principles of the Corporate Sustainability Reporting Directive (CSRD).

    Attachment

    The MIL Network –

  • MIL-OSI: Abaxx Announces Closing of C$22,850,000 First Tranche of Convertible Debenture Offering

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

    TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, indirect majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announces that it has closed the first tranche (the “First Tranche”) of its previously announced non-brokered private placement (the “Offering”) of secured convertible debentures (the “Debentures”) for aggregate gross proceeds of C$22.85 million. The Company may close a second and final tranche (the “Second Tranche”) of the Offering for gross proceeds of up to C$17.15 million at a later date.

    The outstanding principal amount of the Debentures, together with any accrued and unpaid interest, will become due and payable in full on March 26, 2028 (the “Maturity Date”) and will be payable in cash. Each Debenture consists of C$1,000 principal amount of secured convertible debentures of the Company and is convertible into common shares of the Company (each, a “Debenture Share”) at the option of the holder thereof prior to the Maturity Date at a conversion price equal to $13.00 per Debenture Share (the “Conversion Price”).

    The Company has the right to redeem the Debentures at redemption price equal to 105% of the principal amount of the outstanding Debentures plus any accrued and unpaid interest to the date prior to the date of redemption: (a) at any time, should the VWAP of the Company’s common shares exceed 130% of the Conversion Price for no fewer than 20 out of 30 consecutive trading days, or (b) after March 26, 2027.

    The Debentures were issued at an original issue discount equal to 2.5% of the aggregate principal amount of the Debentures and bear interest at a rate of 7.0% per annum from the date of issue, payable semi-annually in arrears in cash on June 30 and December 31 of each year following the first interest payment date of September 30, 2026. The Debentures are secured against certain publicly-traded securities owned by the Company.

    The Offering is subject to the receipt of all necessary regulatory approvals, including the final approval of Cboe Canada. The net proceeds of the First Tranche are expected to be used for general corporate and working capital purposes. The Debentures and Debenture Shares issuable pursuant to the First Tranche are subject to statutory hold periods of four months and one day from the date of issuance.

    In connection with the Offering, so long as the Debentures remain outstanding, the Company has agreed to not assume any additional indebtedness without the consent of a majority of the holders of Debentures as may be outstanding from time to time, other than: (a) certain permitted debt arrangements of up to C$10,000,000 for working capital or regulatory capital requirements in the normal course of business, and (b) trade indebtedness in the normal course of its business.

    The Company paid eligible finders a total cash commission of C$510,400 in connection with gross proceeds received from subscribers introduced to the Company by such finders.

    A certain holder of greater than 10% of the Company’s common shares acquired $4,000,0000 principal amount of Debentures under the First Tranche (the “Insider Participation”). The Insider Participation constitutes a “related party transaction” as such term is defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) of MI 61-101, on the basis that the Insider Participation does not exceed 25% of the fair market value of the Company’s market capitalization. The Company did not file a material change report in respect of the Insider Participation at least 21 days before the closing of the First Tranche, which the Company believes is reasonable in the circumstances in order to complete the First Tranche in an expeditious manner.

    The securities offered in the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.

    About Abaxx Technologies
    Abaxx is building Smarter Markets — markets empowered by better financial technology and market infrastructure to address our biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is an indirect majority-owner of subsidiaries Abaxx Exchange and Abaxx Clearing, recognized by MAS as a “recognised market operator” (RMO) and “approved clearing house” (ACH), respectively.

    Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and clearinghouse, introducing centrally cleared, physically deliverable commodities futures and derivatives to provide better price discovery and risk management tools for the commodities critical to our transition to a lower-carbon economy.

    For more information please visit abaxx.tech, abaxx.exchange and smartermarkets.media.

    For more information about this press release, please contact:

    Steve Fray, CFO
    Tel: +1 647-490-1590

    Media and investor inquiries:

    Abaxx Technologies Inc.
    Investor Relations Team
    Tel: +1 246 271 0082
    E-mail: ir@abaxx.tech

    Cautionary Statement Regarding Forward-Looking Information

    This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx’s future plans, objectives, or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “should”, “intend”, “predict”, “potential”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “continue”, “plan” or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet respective management expectations. Risks, uncertainties, assumptions, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information related to Abaxx in this press release includes, but is not limited to: matters related to the Offering and the conversion of the Debentures, statements related to the closing of the Second Tranche including the timing and size thereof, regulatory approvals, the agreement to not assume additional indebtedness except certain permitted indebtedness, and the inability of Abaxx to apply the use of proceeds from the Offering as anticipated. Such factors impacting forward-looking information include, among others: the inability to obtain required approvals for the Offering, risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions, protection of intellectual property rights, contractual risk, third-party risk; clearinghouse risk, malicious actor risks, third-party software license risk, system failure risk, risk of technological change; dependence of technical infrastructure; and changes in the price of commodities, capital market conditions, restriction on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management’s discussion & analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

    Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.

    The MIL Network –

  • MIL-OSI: Ring Energy to Participate in Water Tower Research Fireside Chat on April 1, 2025

    Source: GlobeNewswire (MIL-OSI)

    THE WOODLANDS, Texas, March 27, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced its participation in a fireside chat with Water Tower Research (“WTR”) on Tuesday, April 1, 2025 at 10:00 AM Central Time.

    As part of WTR’s ongoing Fireside Chat Series, Jeff Robertson, Managing Director at WTR, will lead an in-depth conversation with Paul McKinney, Ring’s Chairman and Chief Executive Officer. Included in the discussion will be a variety of important topics including the recently announced $100-million acquisition of producing assets on the Central Basin Platform of the Permian Basin and the impact the transaction has on Ring’s outlook for 2025 and beyond. Topics will also include:

    • Acquisition’s impact on Ring’s conventional asset base in the Permian Basin;
    • Funding and the impact on Ring’s financial scale;
    • Economic tradeoff between acquiring production or drilling in current commodity/cost environment; and
    • Strategy to maximize free cash flow to strengthen balance sheet.

    Investors and other interested parties can access the event by registering in advance at https://us06web.zoom.us/webinar/register/6417430107423/WN_KGfsFAmKQ722yoIPdOKhAw.The presentation will also be available through Ring’s web site, www.ringenergy.com on the “Overview” page under the “Investors” tab.

    About Ring Energy, Inc.
    Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.

    SAFE HARBOR STATEMENT

    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company’s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2024, and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements.

    Contact Information

    Al Petrie Advisors
    Al Petrie, Senior Partner
    Phone: 281-975-2146
    Email: apetrie@ringenergy.com

    The MIL Network –

  • MIL-OSI: Draganfly Reports Q4 and 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Saskatoon, SK., March 27, 2025 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce its fourth quarter and fiscal 2024 financial results. Revenue for the fourth quarter was up 76% year over year. Total 2024 revenue saw a modest increase as the Company’s capacity to meet demand in the Military and Public Safety sectors did not start to come on stream until late Q3.

    Key Financial Highlights for 2024:

    • ‎Total revenue for the year ended December 31, 2024, was $6,561,055, an increase of 0.1% from the prior year. Product sales increased $81,383 in 2024 as compared to 2023, while services revenue decreased $75,170. The Company continued its product line transition focus on preparation of public safety expansion and production capabilities.
    • Gross Profit was $1,398,204, a decrease of $665,910 or down 32.3% from the prior year. As a percentage of sales, gross margin decreased from 31.5% in 2023 to 21.3% in 2024. This year’s gross profit included a one-time non-cash write-down of inventory of $627,105 while last year’s gross profit included a non-cash downward adjustment of $331,671. Excluding these adjustments, gross profit decreased by $370,476 year over year. As a percentage of sales, adjusted gross margin decreased from 36.5% in 2023 to 30.9% in 2024.
    • The Company recorded a comprehensive loss including all non-cash items of $14,062,534 compared to a comprehensive loss of $23,709,851 in 2023. The comprehensive loss for the year ended December 31, 2024, includes non-cash changes comprised of a gain in fair value of derivative liability from warrants of $1,842,618, a recovery of impairment of notes receivable of $40,020, and a write down of inventory of $627,105 and would otherwise have been a comprehensive loss of $15,318,067 compared to a comprehensive loss of $23,400,524 excluding non-cash items in the same period last year.
    • Cash used in operating activities decreased by $6,939,383 or 37% year over year.
    • The Company’s cash balance on December 31, 2024, was $6,252,409.

    Key Financial and Operational Highlights for Q4 2024:

    • Fourth quarter revenue was $1,613,162 compared to $916,299 for Q4 2023 largely due to a year over year increase in product sales slightly offset by lower services sales.
    • Gross Profit was $215,740 for Q4 2024 compared to $258,879 for Q4 2023 representing a decrease of $43,139 year over year. Gross profit for Q4 2024 would have been $383,255 if it wasn’t for a non-cash write down of inventory of $167,515 while Q4 2023 would have been $382,303 if it wasn’t for a one time non-cash write down of inventory of $123,424. Gross profit as a percentage of sales for Q4 2024 was 13.4% but on an adjusted basis was 23.8%.
    • The Company recorded a comprehensive loss including non-cash items for Q4 2024 of $4,715,931 compared to a comprehensive loss of Q4 2023 of $4,191,796 for the same period in 2023, an increase of 12.5% over 2023. The comprehensive loss for the fourth quarter of 2024 includes non-cash changes comprised of a loss in fair value derivative liability of $946,116 as well as a one time write down of inventory of $167,515 and would otherwise be a comprehensive loss of $3,602,300 compared to a comprehensive loss of $4,222,170 excluding non-cash items in the same period last year. The decrease in loss was primarily due to lower professional fees, wages, and share based compensation charges.
    • The company successfully completed its First Proof-of-Concept Flights in Drone Delivery Research Project for Mass General Brigham. The project aims to enhance home hospital care by utilizing drones for efficient medical deliveries, potentially improving service times and patient outcomes.
    • The Company Announced Closing of US$3.76 Million registered direct offering. The funds are intended to support general corporate purposes, including scaling production capabilities and advancing growth initiatives.
    • The Company announced its participation in the Elevate UAV event, offering specialized training on advanced drone platforms. This initiative underscores Draganfly’s commitment to empowering operators with cutting-edge skills to advance UAV applications in critical sectors.
    • Draganfly showcased its latest drone innovations at multiple conferences and private demonstrations including the Wings of Saskatchewan event, aiming to foster cross-industry collaboration and highlight advancements in drone technology within the aviation industry.
    • The Company announced updates to its Board of Directors and Advisory Board, including the appointment of former White House Chief of Staff Andy Card to the Advisory Board, and the appointment of Kim Moody as Audit Chair, reflecting Draganfly’s commitment to strengthening its leadership team.

    Draganfly will hold a shareholder update call on March 27, 2025, at 2:30 p.m. PDT / 5:30 p.m. EDT. Registration for the call can be done here.

    Selected financial information is outlined below and should be read with Draganfly’s consolidated financial statements for the quarter ended December 31, 2024 and associated management discussion and analysis, which will be available under the Company’s profile on SEDAR+ at www.sedarplus.ca and filed on EDGAR.

    For the year ended December 31,   2024     2023     2022  
    Total revenues   $ 6,561,055     $ 6,554,842     $ 7,605,059  
    Gross Profit (as a % of revenues) (1)     21.3 %     31.5 %     10.4 %
    Net (loss) income     (13,877,473 )     (23,611,810 )     (27,654,364 )
    Net (loss) income per share ($)                        
    –          Basic     (4.40 )     (14.58 )     (20.60 )
    –          Diluted     (4.40 )     (14.58 )     (20.60 )
    Comprehensive (loss) income     (14,062,534 )     (23,709,851 )     (27,305,305 )
    Comprehensive (loss) income per share ($)                        
    –          Basic     (4.45 )     (14.64 )     (20.34 )
    –          Diluted     (4.45 )     (14.64 )     (20.34 )
    Change in cash and cash equivalents   $ 3,158,797     $ (5,437,697 )   $ (15,180,932 )

    (1)   Gross Profit (as a % of revenues) would have been 30.9% (2023 – 36.5%; 2022 – 36.4%) not including a non-cash write down of inventory for $627,105 (2023 – $331,671; 2022 – $1,976,514).

    As at   December 31,
    2024    		     December 31, 2023  
    Total assets   $ 10,200,088     $ 8,330,292  
    Working capital     3,846,283       (717,017 )
    Total non-current liabilities     342,013       523,584  
    Shareholders’ equity   $ 4,621,783     $ 407,716  
                     
    Number of shares outstanding     5,427,795       34,270,579  

    Shareholders’ equity and working capital as at December 31, 2024, includes a fair value of derivative liability of $2,198,121 (2023 – $4,196,125) and would otherwise be $6,819,904 (2023 – $4,603,841) and $6,044,404 (2023 – $3,479,108) respectively.

        2024 Q4     2024 Q3     2023 Q4  
    Revenue   $ 1,613,162     $ 1,885,322     $ 916,299  
    Cost of goods sold(2)   $ (1,397,422 )   $ (1,444,542 )   $ (657,420 )
    Gross profit(3)   $ 215,740     $ 440,780     $ 258,879  
    Gross margin – percentage     13.4 %     23.4 %     28.3 %
    Operating expenses   $ (4,085,766 )   $ (4,125,078 )   $ (3,482,142 )
    Operating income (loss)   $ (3,870,026 )   $ (3,684,298 )   $ (3,223,263 )
    Operating loss per share – basic   $ (0.91 )   $ (1.10 )   $ (1.95 )
    Operating loss per share – diluted   $ (0.91 )   $ (1.10 )   $ (1.95 )
    Other income (expense)   $ (851,896 )   $ 3,484,104     $ (965,072 )
    Change in fair value of derivative liability (1)   $ (946,116 )   $ 3,575,559     $ 153,798  
    Other comprehensive income (loss)   $ 5,991     $ (164,355 )   $ (3,461 )
    Comprehensive income (loss)   $ (4,715,931 )   $ (364,549 )   $ (4,191,796 )
    Comprehensive income (loss) per share – basic   $ (1.11 )   $ (0.11 )   $ (2.41 )
    Comprehensive income (loss) per share – diluted   $ (1.11 )   $ (0.11 )   $ (2.41 )

    (1)   Included in other income (expense).
    (2)   Cost of goods sold includes non-cash inventory write downs of $176,422 in Q3 2024 and $167,515 in Q4 2024 and would have been $1,268,120 in Q3 and $1,229,907 in Q4 2024 before these write downs.
    (3)   Gross profit would have been $617,202 in Q3 2024 and $383,255 in Q4 2024 without the write downs in number 2 above.
    (4)   Cost of goods sold includes non-cash inventory write downs of $123,424 in Q4 2023 and would have been $533,996 in Q4 2023 before these write downs.
    (5)   Gross profit would have been $382,303 in Q4 2023 without the write downs in number 4 above.
    (6)   The other income (expense) and comprehensive loss for the fourth quarter of 2024 includes non-cash changes comprised of a fair value derivative liability loss $946,116 and would otherwise be an other income of $94,220 and comprehensive loss of $3,530,780, respectively

    About Draganfly

    Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8) is the creator of quality, cutting-edge drone solutions, software, and AI systems that revolutionize how organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 25 years, Draganfly is an award-winning industry leader serving the public safety, agriculture, industrial inspections, security, mapping, and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.

    For more information on Draganfly, please visit us at www.draganfly.com.

    For additional investor information, visit
    CSE
    NASDAQ
    FRANKFURT

    Company Contact
    info@draganfly.com

    Media Contact
    media@draganfly.com

    Note Regarding Non-GAAP Measures

    In this press release, we describe certain income and expense items that are unusual or non-recurring. There are terms not defined by International Financial Reporting Standards (IFRS). Our usage of these terms may vary from the usage adopted by other companies. Specifically, gross profit and gross margin are undefined terms by IFRS that may be referenced herein. We provide this detail so that readers have a better understanding of the significant events and transactions that have had an impact on our results.

    Throughout this release, reference is made to “gross profit,” and “gross margin,” which are non-IFRS measures. Management believes that gross profit, defined as revenue less operating expenses, is a useful supplemental measure of operations. Gross profit helps provide an understanding on the level of costs needed to create revenue. Gross margin illustrates the gross profit as a percentage of revenue. Readers are cautioned that these non-IFRS measures may not be comparable to similar measures used by other companies. Readers are also cautioned not to view these non-IFRS financial measures as an alternative to financial measures calculated in accordance with International Financial Reporting Standards (“IFRS”). For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the “Non-GAAP Measures and Additional GAAP Measures”‎ section of the Company’s most recent MD&A which is available on SEDAR.

    Forward-Looking Statements

    This release contains certain “forward-looking statements” and certain “forward-looking information” as ‎‎defined under applicable securities laws. Forward-looking statements and information can ‎generally be ‎identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, ‎‎“estimate”, ‎‎“anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements ‎and ‎information are based on forecasts of future results, estimates of amounts not yet determinable and ‎‎assumptions that, while believed by management to be reasonable, are inherently subject to significant ‎‎business, economic and competitive uncertainties and contingencies. These statements include, but may ‎‎not be limited to statements regarding‎; the intended use of proceeds from the Company’s US$3.76 million registered direct offering; the shareholder update call and timing thereof. Forward-looking statements and ‎information are subject to ‎various known and ‎‎unknown risks and uncertainties, many of which are beyond ‎the ability of the ‎Company to control or ‎‎predict, that may cause the Company’s actual results, ‎performance or ‎achievements to be materially ‎‎different from those expressed or implied thereby, and are ‎developed ‎based on assumptions about ‎‎such risks, uncertainties and other factors set out here-in, ‎including but not ‎limited to: the potential ‎‎impact of epidemics, pandemics or other public health crises on the Company’s ‎business, ‎operations and financial condition, the ‎‎successful integration of technology, the inherent risks ‎involved in ‎the general securities markets; ‎‎uncertainties relating to the availability and costs of financing ‎needed in ‎the future; the inherent ‎‎uncertainty of cost estimates and the potential for unexpected costs ‎and ‎expenses, currency ‎‎fluctuations; uncertainty regarding the Nasdaq hearing process, regulatory ‎restrictions, liability, competition, loss of key employees and ‎other related risks ‎‎and uncertainties ‎disclosed under the heading “Risk Factors“ in the Company’s most ‎recent filings filed ‎‎with securities ‎regulators in Canada on the SEDAR website at www.sedar.com and with the U.S. ‎‎Securities and ‎Exchange Commission on the EDGAR website at www.sec.gov. The ‎Company undertakes ‎‎no obligation ‎to update forward-looking information except as required by ‎applicable law. Such forward-‎‎looking ‎information represents management’s best judgment based on information currently available. ‎‎No ‎forward-looking statement can be guaranteed and actual future results ‎may vary materially. ‎‎Accordingly, ‎readers are advised not to place undue reliance on forward-looking ‎statements or ‎‎information.‎

    The MIL Network –

  • MIL-OSI: NowVertical Group Announces Fourth Quarter and Full Year 2024 Earnings Release Date and Financial Update Webinar

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSXV: NOW) (“NowVertical” or the “Company”), a leading data and AI solutions provider, will announce its 2024 fourth quarter and full year financial results before the market open on Wednesday, April 2, 2025. This will be followed by a webinar at 10:00 AM ET (7:00 AM PT) on Wednesday, April 2, 2025, to discuss the Company’s financial results and provide a business outlook.

    Q4 and FY 2024 Financial Results Investor Webinar:

    NOW invites shareholders, analysts, investors, media representatives, and other stakeholders to attend our upcoming earnings webinar to discuss Q4 and Full Year 2024 results. Participants will include Sandeep Mendiratta, Chief Executive Officer; Christine Nelson, Interim Chief Financial Officer; and Andre Garber, Chief Development Officer. A live question-and-answer session will follow.

    Investor Webinar Registration:

    Time: Wednesday, April 2, 2025, 10:00 AM in Eastern Time (US and Canada)

    Registration Link: https://us02web.zoom.us/webinar/register/WN_cEmYLTHBTLqtoK_qDtxqsw

    A recording of the webinar and supporting materials will be made available in the investor’s section of the company’s website at https://ir.nowvertical.com/news-and-media.

    About NowVertical Group Inc.

    The Company is a global data and analytics company which helps clients transform data into tangible business value with AI, fast. Offering a comprehensive suite of solutions and services the Company enables clients to quickly harness the full potential of their data, driving measurable outcomes and accelerating potential return on investment. Enterprises optimize decision-making, improve operational efficiency, and unlock long-term value from their data using the Company’s AI-Infused first party and third-party technologies. NowVertical is growing organically and through strategic acquisitions.

    For further details about NowVertical, please visit www.nowvertical.com.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    For more information, visit www.nowvertical.com.

    For further information, please contact:

    Andre Garber, CDO
    IR@nowvertical.com
     +1(647)947-0223

    Forward-Looking Statements

    This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (together “forward-looking statements“), including, the alignment of the Company’s leadership and shareholders, and the associated results of the transactions contemplated in this press release on NowVertical’s business, finances and operations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies, certain of which are unknown. Forward-looking statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements are qualified in their entirety by inherent risks and uncertainties, including: adverse market conditions; risks inherent in the data analytics and artificial intelligence sectors in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions or dispositions; that market competition may affect the business, results and financial condition of the Company and other risk factors identified in documents filed by the Company under its profile at www.sedarplus.com, including the Company’s management’s discussion and analysis for the year ended December 31, 2023. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI: Dime Community Bancshares Declares Quarterly Cash Dividend for Common Stock

    Source: GlobeNewswire (MIL-OSI)

    HAUPPAUGE, N.Y., March 27, 2025 (GLOBE NEWSWIRE) — Dime Community Bancshares, Inc. (Nasdaq: DCOM) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share of Common Stock, payable on April 24, 2025 to common stockholders of record as of April 17, 2025. The Company continues its trend of uninterrupted dividends.

    ABOUT DIME COMMUNITY BANCSHARES, INC.

    Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island (1).

    Dime Community Bancshares, Inc.
    Investor Relations Contact:
    Avinash Reddy
    Senior Executive Vice President – Chief Financial Officer
    Phone: 718-782-6200; Ext. 5909
    Email: avinash.reddy@dime.com

     ¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

    The MIL Network –

  • MIL-OSI: YXT.com Reports Full Year 2024 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SUZHOU, China, March 28, 2025 (GLOBE NEWSWIRE) — YXT.com Group Holding Limited (NASDAQ: YXT) (“YXT.com” or the “Company”), a provider of AI-enabled enterprise productivity solutions, today announced its unaudited financial results for the full year ended December 31, 2024 and a US$10 million Share Repurchase Program.

    Financial Highlights for the Full Year of 2024

    • Total revenues were RMB331.2 million (US$45.4 million) for the full year of 2024, compared with RMB424.0 million in the prior year. On the pro forma basis as if the deconsolidation of CEIBS Publishing Group Limited (“CEIBS PG”) occurred as of the beginning of 2022, the pro forma revenues would have been RMB327.9 million (US$44.9 million) for the full year of 2024, compared with RMB324.6 million for the full year of 2023, representing an increase of 1.0%.
    • Gross margin was 61.8% for the full year of 2024, compared with 54.1% in the prior year, representing an increase of 7.7%.
    • Net loss was RMB92.1 million (US$12.6 million), compared with RMB229.8 million in the prior year, representing a decrease of 59.9%.
    • Number of subscription customers was 2,405 as of December 31, 2024, compared with 3,230 as of December 31, 2023. After adjusting for the deconsolidation of CEIBS PG, which accounted for 686 customers, the net change of 139 customers reflects the Company’s strategic shift toward large enterprise accounts with consistent demand for corporate learning solutions, and reflects a planned reduction of small and medium-sized customers from the Company’s portfolio.
    • Net revenue retention rates of subscription customers remained stable at 100.9%, compared with 101.4% in the prior year.

    Mr. Peter Lu, Director, Founder and Chairman of the Board of YXT.com, commented, “The rapid development of AI has created tremendous opportunities for our company, allowing us to successfully transform from digital learning to intelligent learning and expand our offerings into talent management. In 2024, our AI initiatives delivered tangible results in cost reduction and efficiency improvement, significantly narrowing our losses while enhancing value for both customers and shareholders. Our three new AI-powered business lines have already entered customer validation phase and will soon be brought to market, further expanding our business portfolio. As we execute our global expansion strategy this year, YXT.com is positioned at the forefront of the AI-driven industry transformation, ready to create sustainable value for our customers and investors alike.”

    Mr. Pun Leung Liu, Chief Financial Officer of YXT.com, added, “Our financial results for the full year of 2024 demonstrate the effectiveness of our operational optimization initiatives. Through strategic cost management and AI-enabled operational improvements across our business, we significantly narrowed our net loss to RMB92.1 million from RMB229.8 million. We remain committed to disciplined cost control while continuing to invest in strategic areas that drive long-term growth, particularly our technology capabilities and enterprise-focused solutions. With a healthy balance sheet and solid development strategy, we believe we are well-positioned to create long-term value for our shareholders.”

    Financial Results for the Full Year of 2024

    Revenues

    Revenues were RMB331.2 million (US$45.4 million), compared with RMB424.0 million in the prior year, representing a decrease of 21.9%. On the pro forma basis as if the deconsolidation of CEIBS PG occurred as of the beginning of 2022, the pro forma revenues would have been RMB327.9 million (US$44.9 million) for the full year of 2024, compared with RMB324.6 million for the full year of 2023, representing an increase of 1.0%.

    • Revenues from corporate learning solutions were RMB325.6 million (US$44.6 million), compared with RMB411.8 million in the prior year.
      • Revenues from subscription based corporate learning solutions were RMB301.8 million (US$41.3 million), compared with RMB347.8 million in the prior year. The change was primarily due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB64.9 million; and (ii) the strategic suspension of certain ancillary online teaching tools. This was partially offset by an RMB18.9 million increase driven by the Company’s updated business expansion strategy of focusing on large enterprise subscription customers with strong and steady demand for corporate learning solutions.
      • Revenues from non-subscription based corporate learning solutions were RMB23.8 million (US$3.3 million), compared with RMB64.0 million in the prior year. The change was primarily due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB31.2 million; and (ii) reduced offline activities reflecting the Company’s strategic shift towards subscription-based corporate learning solutions.
    • Revenues from others were RMB5.6 million (US$0.8 million), compared with RMB12.2 million in the prior year. The change primarily reflects fewer customized software projects completed in 2024, aligning with the Company’s new strategic focus.

    Cost of revenues

    Cost of revenues was RMB126.5 million (US$17.3 million), compared with RMB194.5 million in the prior year, representing a decrease of 34.9%. This was mainly due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB44.5 million; and (ii) cost reductions resulting from operational adjustments. Improved cost efficiencies were achieved through lower instructor compensation costs stemming from reduced offline activities, aligning with the Company’s strategic shift towards subscription-based corporate learning solutions, as well as through continuous efforts in optimizing human resources and effectively managing expenses.

    Gross margin

    Gross margin was 61.8%, compared with 54.1% in the prior year, representing an increase of 7.7%. This was mainly due to the Company’s new strategic focus on large enterprise subscription customers and ongoing cost optimization efforts.

    Sales and marketing expenses

    Sales and marketing expenses were RMB144.2 million (US$19.8 million), compared with RMB244.4 million in the prior year, representing a decrease of 41.0%. This was mainly due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB62.7 million; and (ii) decreases in compensation paid to sales and marketing staff due to the Company’s efforts in optimizing its human resources.

    Research and development expenses

    Research and development expenses were RMB116.1 million (US$15.9 million), compared with RMB176.5 million in the prior year, representing a decrease of 34.2%. This was mainly due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB22.5 million; and (ii) decreases in compensation paid to research and development staff due to the Company’s efforts in optimizing its human resources and increasing its research and development efficiency.

    General and administrative expenses

    General and administrative expenses were RMB138.4 million (US$19.0 million), compared with RMB142.9 million in the prior year, representing a decrease of 3.1%. This was mainly due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB17.3 million; and (ii) a decrease in share-based compensation paid to general and administrative staff due to the completion of the amortization of certain share-based incentives. The decrease was partially offset by one-time IPO-related professional fees and litigation costs occurring in 2024.

    Net loss and adjusted net loss

    Net loss was RMB92.1 million (US$12.6 million), compared with a net loss of RMB229.8 million in the prior year, representing a decrease of 59.9%. Adjusted net loss was RMB199.3 million (US$27.3 million), compared with an adjusted net loss of RMB277.6 million in the prior year, representing a decrease of 28.2%.

    Earnings/(loss) per share

    Basic net income per share was RMB2.90 (US$0.40) and diluted net loss per share was RMB0.55 (US$0.07), compared with basic and diluted net loss per share of RMB4.71 in the prior year. The improvement in basic earnings per share was primarily attributable to (i) the deemed contribution to ordinary shareholders due to modifications and extinguishment of the Company’s convertible redeemable preferred shares on July 1, 2024; and (ii) lower net loss in the full year of 2024 as compared with the prior year. The improvement was partially offset by net accretion on convertible redeemable preferred shares to redemption value in the full year of 2024.

    Recent Development

    On March 27, 2025, the Company has successfully completed a strategic rebranding initiative, adopting the “Radnova” name for its potential international operations. YXT.com operates its business in China through Jiangsu Radnova Intelligence Technology Co., Ltd. (formerly Jiangsu Yunxuetang Network Technology Co., Ltd.). As part of its global expansion, the Company has established a new entity in Singapore to serve as a headquarter for its overseas business to be conducted in the future. This strategic location will enable YXT.com to better serve and expand into international markets. The “Radnova” trademark will be used for the Company’s future international operations, symbolizing its transition from a China-focused e-learning company to a global AI-enabled enterprise productivity solutions provider.

    YXT.com today announced that its board of directors has authorized the Company to adopt a share repurchase program under which the Company may repurchase up to US$10 million of its ordinary shares in the form of American depositary shares (“ADSs”) during a two-year period (the “Share Repurchase Program”).

    The Company’s proposed repurchases, if adopted, may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in derivative transactions, and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The timing, structure and dollar amount of repurchase transactions will be subject to among others, the market conditions, terms to be agreed with the relevant repurchase agent, the trading prices of ADSs, and the Securities and Exchange Commission (the “SEC”) Rule 10b-18 and/or Rule 10b5-1 requirements. The Company’s board of directors will review the Share Repurchase Program periodically, and may authorize adjustment of its terms and size or suspend or discontinue the program. The Company plans to fund repurchases from its existing cash balance.

    Balance Sheet

    As of December 31, 2024, the Company had cash and cash equivalents and restricted cash, short-term investments and long-term bank deposits of RMB418.2 million (US$57.3 million), compared with RMB496.2 million as of December 31, 2023.

    Conference Call Information

    The Company’s management team will hold a conference call at 9:00 P.M. U.S. Eastern Time on Thursday, March 27, 2025 (or 9:00 A.M. Beijing Time on Friday, March 28, 2025) to discuss the financial results. Details for the conference call are as follows:

    All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a unique access PIN, which can be used to join the conference call.

    A live and archived webcast of the conference call will be available at the Company’s investor relations website at https://ir.yxt.com/.

    Non-GAAP Financial Measures

    In evaluating our business, we consider and use adjusted net loss as a supplemental non-GAAP measure to review and assess our operating performance. Adjusted net loss is net loss excluding amortization of incremental intangible assets resulting from business combination, gain on deconsolidation of CEIBS PG, share-based compensation, change in fair value of derivative liabilities, net of income taxes, to the extent applicable. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We present the non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of the non-GAAP measure facilitates investors’ assessment of our operating performance.

    The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using the non-GAAP financial measure is that it does not reflect all items of income and expense that affect our operations. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited. We compensate for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

    Exchange Rate Information

    This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from Renminbi to U.S. dollars were made at the rate of RMB7.2993 to US$1.00, the exchange rate on December 31, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.

    Safe Harbor Statements

    This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to”, or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

    About YXT.com

    YXT.com (NASDAQ: YXT) is a technology company focusing on enterprise productivity solutions. With a mission to “Empower people and organization development through technology,” The Company strives to become the supreme provider in building and boosting enterprise productivity by combining over a decade of experience in tech-enabled talent learning and development and with AI-augmented task copilots and unleashing the power of knowledge and synergy. Since its inception, YXT.com has supported and received recognition from numerous Global and China Fortune 500 companies.

    YXT.com operates its business in China through “Jiangsu Radnova Intelligence Technology Co., Ltd.,” formerly known as “Jiangsu Yunxuetang Network Technology Co., Ltd.”. YXT.com has established an entity in Singapore to serve as a headquarter for its overseas business to be conducted in the future, with the “Radnova” trademark to serve international markets.

    Contact
    Robin Yang
    ICR, LLC
    YXT.IR@icrinc.com
    +1 (646) 405-4883

     
    YXT.COM GROUP HOLDING LIMITED

    UNAUDITED CONSOLIDATED BALANCE SHEETS
    (All amounts in thousands, except for share and per share data, unless otherwise noted)
     
        As of
    December 31,    		   As of
    December 31,
        2023   2024
        RMB   RMB   US$
                 
    ASSETS            
    Current assets:            
    Cash and cash equivalents   320,489   417,920   57,255
    Restricted Cash   –   322   44
    Short-term investments   58,128   –   –
    Accounts receivable, net   32,790   19,386   2,656
    Amounts due from related parties   –   2,000   274
    Prepaid expenses and other current assets, net   12,028   35,791   4,903
    Total current assets   423,435   475,419   65,132
                 
    Non-current assets:            
    Property, equipment and software, net   23,402   15,175   2,079
    Intangible assets, net   12,720   7,069   968
    Goodwill   164,113   163,837   22,446
    Long-term investments   126,341   114,432   15,677
    Operating lease right-of-use assets, net   34,997   25,655   3,515
    Other non-current assets   22,265   20,349   2,788
    Long-term bank deposits   117,573   –   –
    Total non-current assets   501,411   346,517   47,473
    Total assets   924,846   821,936   112,605
                 
    LIABILITIES, MEZZANINE AND SHAREHOLDERS’ (DEFICIT)/EQUITY            
    Current liabilities            
    Accounts payable   17,855   7,389   1,013
    Amounts due to related parties   –   2,452   336
    Short-term borrowings   46,800   163,000   22,331
    Deferred revenue, current   188,485   125,428   17,184
    Acquisition consideration payable   14,775   14,775   2,024
    Other payable and accrued liabilities   89,937   72,028   9,867
    Derivative liabilities   100,279   –   –
    Operating lease liabilities, current   15,818   8,966   1,228
    Total current liabilities   473,949   394,038   53,983
                 
    Non-current liabilities            
    Long-term borrowings   219,000   125,500   17,193
    Operating lease liabilities, non-current   20,257   17,458   2,392
    Deferred revenue, non-current   58,952   57,710   7,906
    Total non-current liabilities   298,209   200,668   27,491
    Total liabilities   772,158   594,706   81,474
     
    YXT.COM GROUP HOLDING LIMITED

    UNAUDITED CONSOLIDATED BALANCE SHEETS
    (All amounts in thousands, except for share and per share data, unless otherwise noted)
     
        As of
    December 31,    		   As of
    December 31,
        2023   2024
        RMB   RMB   US$
                 
    Mezzanine equity            
    Series A convertible redeemable preferred shares (US$0.0001 par value, 15,040,570 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)   408,139     –     –  
    Series B convertible redeemable preferred shares (US$0.0001 par value, 7,085,330 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)   199,518     –     –  
    Series C convertible redeemable preferred shares (US$0.0001 par value, 23,786,590 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)   493,788     –     –  
    Series D convertible redeemable preferred shares (US$0.0001 par value, 37,152,161 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)   1,059,434     –     –  
    Series E convertible redeemable preferred shares (US$0.0001 par value, 26,417,318 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)   1,402,802     –     –  
    Total mezzanine equity   3,563,681     –     –  
                 
    Shareholders’ (deficit)/equity            
    Ordinary shares (US$0.0001 par value 390,518,031 and 500,000,000 shares authorized as of December 31, 2023 and December 31, 2024, respectively; 48,253,425 and 180,226,597 shares issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)   33     129     18  
    Additional paid-in capital   16,671     3,489,553     478,067  
    Statutory reserve   4,322     –     –  
    Accumulated other comprehensive income   23,775     25,096     3,438  
    Accumulated deficit   (3,490,681 )   (3,287,548 )   (450,392 )
    Total YXT.COM Group Holding Limited shareholders’ (deficit)/equity   (3,445,880 )   227,230     31,131  
    Non-controlling interests   34,887     –     –  
    Total shareholders’ (deficit)/equity   (3,410,993 )   227,230     31,131  
    Total liabilities, mezzanine equity and shareholders’ (deficit)/equity   924,846     821,936     112,605  
     
    YXT.COM GROUP HOLDING LIMITED

    UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
    (All amounts in thousands, except for share and per share data, unless otherwise noted)
     
        Year ended December 31,
        2023   2024
        RMB   RMB   US$
                 
    Revenues:            
    Corporate learning solutions   411,822     325,579     44,604  
    Others   12,194     5,611     769  
    Total revenues   424,016     331,190     45,373  
                 
    Cost of revenues   (194,474 )   (126,522 )   (17,333 )
    Sales and marketing expenses   (244,379 )   (144,217 )   (19,758 )
    Research and development expenses   (176,537 )   (116,105 )   (15,906 )
    General and administrative expenses   (142,852 )   (138,392 )   (18,960 )
    Other operating income   5,629     6,974     955  
    Loss from operations   (328,597 )   (187,072 )   (25,629 )
                 
    Interest and investment income   4,613     6,494     890  
    Interest expense   (4,650 )   (10,699 )   (1,466 )
    Impairment of available‑for‑sale debt securities   (13,144 )   (14,464 )   (1,981 )
    Gain on deconsolidation of CEIBS Publishing Group   –     78,760     10,790  
    Foreign exchange (loss)/gain, net   (350 )   550     75  
    Change in fair value of derivative liabilities   102,419     34,378     4,710  
    Loss before income tax expense   (239,709 )   (92,053 )   (12,611 )
    Income tax benefit   9,871     –     –  
    Net loss   (229,838 )   (92,053 )   (12,611 )
                 
    Net loss attributable to non-controlling interests shareholders   9,383     300     41  
                 
    Net loss attributable to YXT.COM Group Holding Limited   (220,455 )   (91,753 )   (12,570 )
                 
     
    YXT.COM GROUP HOLDING LIMITED

    UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
    (All amounts in thousands, except for share and per share data, unless otherwise noted)
     
        Year ended December 31,
        2023   2024
        RMB   RMB   US$
                 
    Net loss attributable to YXT.COM Group Holding Limited   (220,455 )   (91,753 )   (12,570 )
    Deemed contribution to ordinary shareholders due to modifications and extinguishment on convertible redeemable preferred shares   –     672,170     92,087  
    Deemed dividend to convertible redeemable preferred share shareholders due to modifications   –     (5,940 )   (814 )
    Net accretion on convertible redeemable preferred shares to redemption value   (9,452 )   (290,543 )   (39,804 )
    Net (loss)/income attributable to ordinary shareholders of YXT.COM Group Holding Limited   (229,907 )   283,934     38,899  
                 
    Net loss   (229,838 )   (92,053 )   (12,611 )
    Other comprehensive loss            
    Foreign currency translation adjustment, net of tax   2,385     3,742     513  
    Unrealized gain/(loss) on investments in available-for-sale debt securities, net of tax   6,988     (2,421 )   (332 )
                 
    Total comprehensive loss   (220,465 )   (90,732 )   (12,430 )
                 
    Total comprehensive loss attributable to non-controlling interests   9,383     300     41  
                 
    Total comprehensive loss attributable to YXT.COM Group Holding Limited   (211,082 )   (90,432 )   (12,389 )
                 
    Net (loss)/income attributable to ordinary shareholders of YXT.COM Group Holding Limited   (229,907 )   283,934     38,899  
    —Weighted average number of ordinary shares – basic   48,781,392     97,788,561     97,788,561  
    —Weighted average number of ordinary shares – diluted   48,781,392     168,152,425     168,152,425  
                 
    Net (loss)/income per share attributable to ordinary shareholders:            
    —Basic   (4.71 )   2.90     0.40  
    —Diluted   (4.71 )   (0.55 )   (0.07 )
     
    YXT.COM GROUP HOLDING LIMITED

    UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS
    (All amounts in thousands, except for share and per share data, unless otherwise noted)
     
        Year ended December 31,
        2023   2024
        RMB   RMB   US$
                 
    Net loss   (229,838 )   (92,053 )   (12,611 )
    Adjustments:            
    Amortization of incremental intangible assets resulting from business combination   16,340     –     –  
    Impairment of intangible assets   21,660     –     –  
    Gain on deconsolidation of CEIBS Publishing Group   –     (78,760 )   (10,790 )
    Share-based compensation   26,123     5,879     805  
    Change in fair value of derivative liabilities   (102,419 )   (34,378 )   (4,710 )
    Adjusted loss before income taxes   (268,134 )   (199,312 )   (27,306 )
    Adjusted income taxes   (9,500 )   –     –  
    Adjusted net loss   (277,634 )   (199,312 )   (27,306 )

    The MIL Network –

  • MIL-OSI: Stardust Power Announces Year End 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., March 27, 2025 (GLOBE NEWSWIRE) — Stardust Power Inc. (“Stardust Power” or the “Company”) (Nasdaq: SDST), an American developer of battery-grade lithium products, today announced its results for the year ended December 31, 2024.  

    Full Year Business Highlights 

    Operational highlights for the full year 2024 include: 

    • Listing on the Nasdaq: Completion of the Business Combination and subsequent listing on the Nasdaq Global Market (the “Nasdaq”).
    • Purchase of refinery site: On December 16, finalized the purchase of 66-acre site in Muskogee, Oklahoma, for a total consideration of approximately $1.7 million. 
    • Permitting and approvals: Secured the necessary stormwater discharge permit and received administrative approval for the Air Permit, with the technical approval pending. The Oklahoma Department of Environmental Quality has accepted our application as a minor source for emissions, and we believe we are on track for final stage approvals.  
    • DFS advancing: Primero USA is in the final stages of the Definitive Feasibility Study (DFS), or FEL 3 study, having advanced nearly to completion our detailed process design package, updated cost estimates, and refined project schedules, along with other key milestones and reviews. 
    • Personnel hire and director appointment: Chris Celano as Chief Operating Officer, bringing over 20 years of energy sector leadership and international drilling and mining experience and Martyn Buttenshaw to the Board of Directors, offering extensive metals and mining industry experience to support the Company’s U.S. lithium supply chain efforts. 
    • Capital raise: During the year a total of $6.4 million of capital raised consisting of $2.8 million equity and $3.5 million debt funding general operational, engineering and corporate uses. 

    Subsequent Events since Year End 2024 

    • Broke ground on centrally located site: On January 22, 2025, the Company held a groundbreaking ceremony in Muskogee, Oklahoma, marking a major business milestone. This event, attended by key local and state officials, also marked the beginning of groundwork and preparation for heavy construction commencing once Final Investment Decision is reached. 
    • Offtake agreement with Sumitomo Americas: Entered into a non-binding agreement (“The Agreement”) for a potential long-term supply deal for up to 25,000 metric tons of lithium carbonate annually with Sumitomo Americas. The 10-year agreement includes an option to extend to 15 years.  
    • KMX Technologies licensing agreement: Signed definitive agreement with KMX Technologies for advanced VMD concentration technology, granting access across the U.S., Canada, and select international markets for lithium production. The technology is expected to help the Company reduce energy consumption, water usage and logistics costs, while improving the economic and environmental performance of operations. 
    • Equity raise and warrant inducement: In January 2025, the Company raised $5.75 million through an equity transaction with a large institutional investor, issuing 4,792,000 shares of common stock at $1.20 per share along with 4,792,000 cash warrants at an exercise price of $1.30. Additionally, on March 17, 2025, the Company entered into a warrant inducement agreement with the same investor, generating approximately $2.9 million in gross proceeds for the exercise of 4,792,000 warrants at a revised exercise price of $0.62.

    “As we move forward, we are focused on executing our business plan and achieving key milestones that are crucial for meeting the growing demand for secure U.S. supply chains and energy independence. The successful Nasdaq listing in 2024, alongside the recent acquisition and groundbreaking of our strategic site in Muskogee, Oklahoma, is a significant step in our journey. With strong support from new hires, key partnerships, like the Agreement with Sumitomo, and strategic investments in innovative technologies, we are positioning ourselves for growth and value creation in the lithium sector,” commented Roshan Pujari, CEO and Founder of Stardust Power. 

     Full Year 2024 Financial Highlights 

    • For the year ended December 31, 2024 i.e. the current year, the Company incurred a net loss of $23.8 million and for the period from March 16, 2023 (inception date) through December 31, 2023 i.e. the prior period, the Company incurred a net loss of $3.8 million, the increase being driven by higher administrative expenses in connection with being a public company and to complement an increased scope of operations. 
    • Loss per share was $0.55 for the current year, compared to $0.09 for the prior period, the increase being driven primarily by higher general and administrative costs due to personnel related costs and finance charges for short term loans. 
    • Net cash used in operating activities totaled $9.7 million for the current year, compared to $3.0 million for the prior period, the increase driven by continued investment in operations, hiring of key talent and certain expenses related to the close of the Business Combination. 
    • Net cash used in investing activities was $4.8 million for the current year, compared to $0.3 million for the prior period, the increase driven by the purchase of land, engineering, initial capital investments made in the anticipated building of the refinery, strategic investments and promissory notes given to partners.  
    • Net cash provided by financing activities was $14.1 million during the current year, compared to $4.6 million for the prior period. The increase was driven primarily by $11.6 million in cash received from subscription agreements entered around the time of the closing of the Business Combination, short term loans and exercise of warrants. Funds were used to meet working capital needs, capital investments and to pay for some of the transaction costs related to the Business Combination. 

    Annual Report on Form 10-K 

    The Company’s financial statements and related footnotes will be available in its Annual Report on Form 10-K for the year ended December 31, 2024, which is expected to be filed with the U.S. Securities and Exchange Commission (“SEC”) by 28 March, 2025.

    Conference Call Details 

    Participants may access the call by clicking the participant call link to ask questions: https://register-conf.media-server.com/register/BIa452f3fd54bf4f7486c84cbbebebf5e4.

    Upon registering at the link, you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details.

    You can also access the call via live audio webcast using the website link to listen in: https://edge.media-server.com/mmc/p/39cnop5g

    Participants should log in at least 15 minutes early to receive instructions. The earnings call will be available on the Company website following the event. 

    About Stardust Power 

    Stardust Power is a developer of battery-grade lithium products designed to supply the electric vehicle (EV) industry and bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.” 

    For more information, visit www.stardust-power.com 

    Cautionary Statement Regarding Forward-Looking Statements 

    This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,“ ”plan,“ ”potential,“ ”priorities,“ ”project,“ ”pursue,“ ”seek,“ ”should,“ ”target,“ ”when,“ ”will,“ ”would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.  

    These forward-looking statements are subject to a number of risks and uncertainties, including the ability of Stardust Power to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the price of Stardust Power’s securities, including volatility resulting from recent sales of securities, issuance of debt, and exercise of warrants, changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; the regulatory environment and our ability to obtain necessary permits and other governmental approvals for our operation; Stardust Power’s need for substantial additional financing to execute our business plan and our ability to access capital and the financial markets; worldwide growth in the adoption and use of lithium products; the Company’s ability to enter into and realize the anticipated benefits of offtake and license and other commercial agreements; risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities; the substantial doubt regarding the Company’s ability to continue as a going concern and the need to raise capital in the near term in order to maintain the Company’s operations; the Company’s continued listing on the Nasdaq; and those factors described or referenced in filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024, which is expected to be filed with the SEC by March 28, 2025. The foregoing list of factors is not exhaustive. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change. 

    We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement. 

    Stardust Power Contacts 

    For Investors: 

    Johanna Gonzalez 
    investor.relations@stardust-power.com 

    For Media: 

    Michael Thompson 

    media@stardust-power.com 

    The MIL Network –

  • MIL-OSI: Qifu Technology, Inc. Announces Completion of Offering of US$690 Million Cash-par Settled Convertible Senior Notes

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, March 27, 2025 (GLOBE NEWSWIRE) — Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced the completion of its offering of convertible senior notes (the “Notes Offering”) in an aggregate principal amount of US$690 million due 2030 (the “Notes”), including the initial purchasers’ full exercise of option to purchase an additional US$90 million principal amount of the Notes. The Notes have been offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

    The Company plans to use the net proceeds from the Notes Offering for repurchasing the American depositary shares (“ADSs”) and/or class A ordinary shares of the Company concurrently with the pricing of the Notes Offering and from time to time after the pricing of the Notes Offering pursuant to a newly established share repurchase plan (the “March 2025 Share Repurchase Plan”) authorized by the board of directors of the Company. The March 2025 Share Repurchase Plan will run in addition to the Company’s existing share repurchase plan announced in November 2024.

    The Company expects the offering to be immediately accretive to 2025 earnings per ADS upon closing, facilitated by (i) the execution of the repurchase of ADSs concurrently with the pricing of the Notes Offering with an aggregate value of approximately US$230 million from certain purchasers of the Notes in off-market privately negotiated transactions effected through one of the initial purchasers or its affiliates, as the Company’s agent, and (ii) the cash-par conversion settlement mechanism of the Notes.

    The Notes will be general unsecured obligations of the Company and bear interest at a rate of 0.50% per year, payable semiannually in arrears on April 1 and October 1 of each year, beginning on October 1, 2025. The Notes will mature on April 1, 2030 unless repurchased, redeemed, or converted in accordance with their terms prior to such date.

    The initial conversion rate of the Notes is 16.7475 ADSs, per US$1,000 principal amount of the Notes, which is equivalent to an initial conversion price of approximately US$59.71 per ADS.

    The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the class A ordinary shares represented thereby or deliverable upon conversion of the Notes in lieu thereof have not been registered under the Securities Act, or any securities laws of any other places. They may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act.

    This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

    About Qifu Technology

    Qifu Technology is a leading AI-empowered Credit-Tech platform in China. By leveraging its sophisticated machine learning models and data analytics capabilities, the Company provides a comprehensive suite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition, preliminary credit assessment, fund matching and post-facilitation services. The Company is dedicated to making credit services more accessible and personalized to consumers and SMEs through Credit-Tech services to financial institutions.

    For more information, please visit: https://ir.qifu.tech.

    Safe Harbor Statement

    Any forward-looking statements contained in this press release are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Qifu Technology may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, the Company’s cooperation with 360 Group, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the Credit-Tech industry, governmental policies relating to the Credit-Tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in Qifu Technology’s filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Qifu Technology does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For further information, please contact:

    Qifu Technology
    E-mail: ir@360shuke.com

    The MIL Network –

  • MIL-OSI: DLC Releases Annual 2024 Results; Achieves Annual Funded Volumes of $67.4 Billion (19% Increase over Prior Year)

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 27, 2025 (GLOBE NEWSWIRE) — Dominion Lending Centres Inc. (TSX:DLCG) (“DLCG” or the “Corporation”) is pleased to report its financial results for the three months (“Q4-2024”) and year ended December 31, 2024 (“annual”). For complete information, readers should refer to the annual audited consolidated financial statements and management discussion and analysis which are dated March 27, 2025 and are available on SEDAR+ at www.sedarplus.ca and on the Corporation’s website at www.dlcg.ca. All amounts are presented in Canadian dollars unless otherwise stated.

    DLCG includes the Corporation and its three main subsidiaries: MCC Mortgage Centres Canada Inc. (“MCC”), MA Mortgage Architects Inc. (“MA”), and Newton Connectivity Systems Inc. (“Newton”). The Corporation’s acquisition of all of the series I, class “B” preferred shares (the “Preferred Shares”) completed on December 17, 2024 is referred to herein as the “Preferred Share Acquisition”.

    Gary Mauris, Executive Chairman and CEO, commented, “We are pleased to report annual funded volume growth of 19% over the prior year which helped drive a 23% increase in revenues and a 47% increase in adjusted EBITDA. We are proud of our strong network of franchisees and mortgage professionals and would like to thank them for their continued hard work in 2024. The adoption of our technology connectivity platform ‘Velocity’ was a significant contributor to our success, as was our “Gold Rush” campaign which made it easier for brokers to stay connected with their clients. Looking ahead, we believe we are well-positioned to take advantage of favourable market conditions should interest rates further decline and as a significant number of mortgage renewals are on the horizon.” 

    Q4-2024 and Annual Summary:

    • Q4-2024 funded volumes of $19.6 billion and annual funded volume of $67.4, representing a 38% and 19% increase as compared to 2023, respectively;
    • Q4-2024 revenue of $22.3 million and annual revenue of $76.8 million, representing a 41% and 23% increase compared to 2023, respectively;
    • Q4-2024 adjusted EBITDA of $10.2 million and annual adjusted EBITDA of $36.0 million as compared to $6.5 million in Q4-2023 and $24.4 million in annual 2023.
    • The Corporation’s Q4-2024 net loss of $138.8 million and annual net loss of $126.8 million was primarily due to non-cash finance expense on the Preferred Share liability. The difference between the fair value of consideration granted for the Preferred Share Acquisition and the book value of the Preferred Shares (which were accounted for on an amortized cost basis) was recognized as a loss on acquisition within finance expense on the Preferred Share liability (refer to the Preferred Shares section of the accompanying MD&A); and
    • The Corporation declared a quarterly dividend of $0.03 per class A common share (“Common Share”), resulting in a dividend payment of $1.4 million in Q4-2024.

    Selected Consolidated Financial Summary:
    Below is a summary of our financial results for the three months and year ended December 31, 2024 and for the comparable periods in December 31, 2023.

    (in thousands, except per share and KPIs) Three months ended Dec. 31,
    		 Year ended Dec. 31,
      2024     2023   Change     2024     2023   Change  
    Revenues $ 22,256   $ 15,758   41 % $ 76,753   $ 62,517   23 %
    Income from operations   8,453     3,914   116 %   29,516     18,311   61 %
    Adjusted EBITDA(1)   10,248     6,507   57 %   35,994     24,420   47 %
    Adjusted EBITDA margin   46 %   41 % 5 %   47 %   39 % 8 %
    Free cash flow attributable to common shareholders(1)   4,354     2,035   114 %   14,884     7,459   100 %
                                     
                                     
    Net (loss) income(2)   (138,755 )   (2,003 ) NMF (5)   (126,768 )   64   NMF (5)
    Adjusted net income(1)   3,021     1,775   70 %   10,813     6,748   60 %
                                     
                                     
    Diluted loss per Common Share(2)   (2.63 )   (0.04 ) NMF (5)   (2.58 )   –   NMF (5)
    Adjusted diluted earnings per Common Share(1)   0.05     0.04   25 %   0.21     0.14   50 %
    Dividends declared per share $ 0.03   $ 0.03   –   $ 0.12   $ 0.12   –  
     
    Funded mortgage volumes(3)   19.6     14.2   38 %   67.4     56.5   19 %
    Number of franchises(4)   514     542   (5 %)   514     542   (5 %)
    Number of brokers(4)   8,663     8,192   6 %   8,663     8,192   6 %
    % of DLCG funded mortgage volumes submitted through Velocity   76 %   65 % 11 %   73 %   63 % 10 %

    (1) Please see the Non-IFRS Financial Performance Measures section of the accompanying MD&A for additional information.
    (2) Net income for the three months and year ended December 31, 2024 includes $144.5 million and $149.1 million of non-cash finance expense on the Preferred Share liability (December 31, 2023 – $1.9 million and $9.9 million expense). Refer to the Preferred Shares section of the accompanying MD&A.
    (3)  Funded mortgage volumes are presented in billions.
    (4)  The number of franchises and brokers are as at the respective period end date (not in thousands).
    (5)  The percentage change is not a meaningful figure.

    During the three months and year ended December 31, 2024, revenues increased over the three months and year ended December 31, 2023 from higher Newton revenues, primarily due to an increase in Velocity adoption and lender contract renewals. In addition, revenue increased from an increase in mortgage brokers under a DLC corporately-owned franchise and from acquired corporately-owned franchises, contributing to higher revenues from brokering of mortgages. Further, our funded mortgage volumes increased during the three months and year ended when compared to 2023’s equivalent periods, which contributed to increased revenues during those periods.

    Income from operations increased from higher revenues but were partly offset by an increase in operating expenses during the three months and year ended December 31, 2024 when compared to the three months and year ended December 31, 2023. The increase in operating expenses is primarily from an increase in general and administrative costs from technology support and licensing costs and from advertising expenses. In addition, direct costs increased from higher franchise recruiting and support costs and share-based payments expense increased from additional RSUs granted in 2024.

    The Corporation’s adjusted net income, adjusted EBITDA, and adjusted EBITDA margins increased during the three months and year ended December 31, 2024 when compared to the three months and year ended December 31, 2023 from an increase in revenue partly offset by an increase in operating expenses. As the Corporation’s operating expenses are largely fixed in nature and are not necessarily proportionate to changes in revenues, an increase in the Corporation’s revenues has a more pronounced impact on adjusted net income, adjusted EBITDA, and adjusted EBITDA margins.

    Net loss increased during the three months and year ended December 31, 2024, compared to the prior year periods. The increase in net loss during the three month and year ended is primarily from finance expense on the Preferred Share liability. The difference between the fair value of the consideration granted for the Preferred Share Acquisition and the book value of the Preferred Shares (which were accounted for on an amortized cost basis) was recognized as a loss on acquisition within finance expense on the Preferred Share liability (refer to the Preferred Shares section of the accompanying MD&A).

    On April 25, 2024, the Corporation disposed of its 52% interest in Cape Communications International Inc. (operating as “Impact”) for cash proceeds of $3.7 million. The proceeds from sale were used to fully repay the Junior Credit Facility. The $0.7 million gain on disposal of an equity-accounted investment for the year ended December 31, 2024 relates to cumulative amounts arising on foreign exchange translation of Impact that were previously recognized in other comprehensive income (loss) and were reclassified to income on the sale of Impact. Other income for the year ended December 31, 2024 includes $1.0 million related to reversal of the liquidation rights liability on the sale of Impact (refer to the Related Party Transactions section of the accompanying MD&A).

    Free cash flow increased during the three months and year ended December 31, 2024, primarily from higher adjusted cash flows from operations from higher income from operations and lower maintenance CAPEX.

    Non-IFRS Financial Performance Measures
    Management presents certain non-IFRS financial performance measures which we use as supplemental indicators of our operating performance. These non-IFRS measures do not have any standardized meaning, and therefore are unlikely to be comparable to the calculation of similar measures used by other companies and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Non-IFRS measures are defined and reconciled to the most directly-comparable IFRS measure. Non-IFRS financial performance measures include adjusted EBITDA, adjusted net income, adjusted earnings per share, and free cash flow. Please see the Non-IFRS Financial Performance Measures section of the Corporation’s MD&A dated March 27, 2025 for further information on key performance indicators. The Corporation’s MD&A is available on SEDAR+ at www.sedarplus.ca.

    The following table reconciles adjusted EBITDA from income before income tax, which is the most directly-comparable measure calculated in accordance with IFRS:

            Three months ended Dec. 31,
    		     Year ended Dec. 31,
    		  
    (in thousands)   2024     2023     2024     2023  
    (Loss) income before income tax $ (136,302 ) $ (846 ) $ (119,289 ) $ 4,187  
    Add back:                
    Depreciation and amortization   1,066     939     4,060     3,787  
    Finance expense   552     820     2,624     3,149  
    Finance expense on the Preferred Share liability   144,503     1,931     149,042     9,922  
        9,819     2,844     36,437     21,045  
    Adjustments:                
    Share-based payments expense (recovery)   276     263     807     (70 )
    Promissory note income   (16 )   (35 )   (94 )   (151 )
    Gain on disposal of equity-accounted investment   (16 )   –     (697 )   –  
    Non-cash impairment of equity-accounted investments   –     3,390     198     3,466  
    Other expense (income)(1)   185     45     (657 )   130  
    Adjusted EBITDA(2) $ 10,248   $ 6,507   $ 35,994   $ 24,420  

    (1) Other expense (income) for the three months and year ended December 31, 2024 relates to the reversal of the liquidation rights liability on the sale of Impact (see the Related Party Transactions section of this document), foreign exchange loss, loss on contract settlement, and costs associated with the Preferred Share Acquisition. Other (income) expense for the three months and year ended December 31, 2023 relates to a loss on the disposal of an intangible asset, foreign exchange loss and loss on contract settlement.
    (2) Amortization of franchise rights and relationships of $1.2 million and $5.1 million for the three months and year ended December 31, 2024, respectively (December 31, 2023 – $1.2 million and $4.9 million) is classified as a charge against revenue and has not been added back for adjusted EBITDA.

    The following table reconciles free cash flow from cash flow from operating activities, which is the most directly-comparable measure calculated in accordance with IFRS:

          Three months ended Dec. 31,
    		     Year ended Dec. 31,
    		  
    (in thousands)   2024     2023     2024     2023  
    Cash flow from operating activities $ 10,273   $ 3,433   $ 37,202   $ 17,086  
    Changes in non-cash working capital and other non-cash items   (2,000 )   1,426     (4,929 )   4,378  
    Cash provided from operations excluding changes in non-cash working capital and other non-cash items   8,273     4,859     32,273     21,464  
    Adjustments:                
    Distributions from equity-accounted investees   –     46     285     321  
    Maintenance CAPEX   (580 )   (680 )   (4,929 )   (6,719 )
    Lease payments   (40 )   (126 )   (382 )   (602 )
    Loss on contract settlement   11     9     47     67  
    NCI portion of cash provided from operations excluding changes in non-cash working capital   (285 )   –     (596 )   –  
    Other non-cash items(1)   343     (89 )   (545 )   (88 )
        7,722     4,019     26,153     14,443  
    Free cash flow attributable to Preferred Shareholders(2)   (3,368 )   (1,984 )   (11,269 )   (6,984 )
    Free cash flow attributable to common shareholders $ 4,354   $ 2,035   $ 14,884   $ 7,459  

    (1) Other non-cash items for the three months and year ended December 31, 2024 relates to the reversal of the liquidation rights liability on the sale of Impact (see the Related Party Transactions section of the accompanying MD&A), share-based payments on PSO plan and promissory note income. The three months and year ended December 31, 2023 includes losses on disposal of an intangible asset.
    (2) Free cash flow attributable to the Preferred Shareholders is determined based on free cash flow of the Core Business Operations (as defined in the Preferred Shares section of the accompanying MD&A).

    The following table reconciles adjusted net income from net income, which is the most directly-comparable measure calculated in accordance with IFRS:

            Three months ended Dec. 31,     Year ended Dec. 31,
    		  
    (in thousands)   2024     2023     2024     2023  
    Net (loss) income $ (138,755 ) $ (2,003 ) $ (126,768 ) $ 64  
    Adjustments:                
    Gain on sale of an equity-accounted investment   (16 )   –     (697 )   –  
    Non-cash impairment of equity-accounted investments   –     3,390     198     3,466  
    Finance expense on the Preferred Share liability(1)   144,503     1,931     149,042     9,922  
    Promissory note interest income   (16 )   (35 )   (94 )   (151 )
    Other expense (income)(2)   185     45     (657 )   130  
    Income tax effects of adjusting items   (43 )   (3 )   (72 )   (7 )
        5,858     3,325     20,952     13,424  
    Income attributable to Preferred Shareholders(3)   (2,837 )   (1,550 )   (10,139 )   (6,676 )
    Adjusted net income   3,021     1,775     10,813     6,748  
    Adjusted net income attributable to common shareholders   2,796     1,770     10,451     6,727  
    Adjusted net income attributable to non-controlling interest   225     5     362     21  
    Diluted adjusted earnings per Common Share $ 0.05   $ 0.04   $ 0.21   $ 0.14  

    (1) The Preferred Share liability is revalued at the end of each reporting period to reflect our most recent outlook and forecast. Refer to the Preferred Shares section of the accompanying MD&A.
    (2) Other expense (income) for the three months and year ended December 31, 2024 relates to the reversal of the liquidation rights liability on the sale of Impact (see the Related Party Transactions section of the accompanying MD&A), foreign exchange loss, loss on contract settlement and costs associated with the Preferred Share Acquisition. Other expense for the three months and year ended December 31, 2023 relates to a loss on the disposal of intangible assets.
    (3) Adjusted net income attributable to the Preferred Shareholders is determined based on adjusted net income of the Core Business Operations (as defined in the Preferred Shares section of the accompanying MD&A).

    Forward-Looking Information
    Certain statements in this document constitute forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as “anticipate,” “believe,” “estimate,” “will,” “expect,” “plan,” or similar words suggesting future outcomes or outlooks. Forward-looking information in this document includes, but is not limited to, our anticipation of further interest rate reductions and expected record amount of mortgage renewals.

    Such forward-looking information is based on many estimates and assumptions, including material estimates and assumptions, related to the following factors below that, while considered reasonable by the Corporation as at the date of this press release considering management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to:

    • Changes in interest rates;
    • The DLC Group’s ability to maintain its existing number of franchisees and add additional franchisees;
    • Changes in overall demand for Canadian real estate (via factors such as immigration);
    • Changes in overall supply for Canadian real estate (via factors such as new housing-start levels);
    • At what period in time the Canadian real estate market stabilizes;
    • Changes in Canadian mortgage lending and mortgage brokerage laws and regulations;
    • Changes in the Canadian mortgage lending marketplace;
    • Changes in the fees paid for mortgage brokerage services in Canada; and
    • Demand for the Corporation’s products remaining consistent with historical demand.

    Many of these uncertainties and contingencies may affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made in this document are qualified by these cautionary statements. The foregoing list of risks is not exhaustive. The forward-looking information contained in this document is made as of the date hereof and, except as required by applicable securities laws, we undertake no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise.

    About Dominion Lending Centres Inc.
    Dominion Lending Centres Inc. is Canada’s leading network of mortgage professionals. DLCG operates through Dominion Lending Centres Inc. and its three main subsidiaries, MCC Mortgage Centre Canada Inc., MA Mortgage Architects Inc. and Newton Connectivity Systems Inc., and has operations across Canada. DLCG extensive network includes over 8,500 agents and over 500 locations. Headquartered in British Columbia, DLC was founded in 2006 by Gary Mauris and Chris Kayat.

    DLCG can be found on X (Twitter), Facebook and Instagram and LinkedIn @DLCGmortgage and on the web at www.dlcg.ca. 

    Contact information for the Corporation is as follows:

    Eddy Cocciollo
    President
    647-403-7320
    eddy@dlc.ca    		 James Bell
    EVP, Corporate and Chief Legal Officer
    403-560-0821
    jbell@dlcg.ca    		  
         

    NEITHER THE TSX EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    The MIL Network –

  • MIL-OSI: UNCLE Credit Union Hosts ‘Bite of Reality’ Event for High School Students

    Source: GlobeNewswire (MIL-OSI)

    LIVERMORE, Calif., March 27, 2025 (GLOBE NEWSWIRE) — On Friday, March 14, 2025, UNCLE Credit Union headquartered in Livermore, CA, provided 150 high school students at the Leadership Public School of Hayward with a “Bite of Reality” experience to learn what it’s like to have financial responsibilities and live on a budget.

    The Bite of Reality program is an interactive, mobile app-based simulation appealing to teenagers while giving them a taste of real-world financial realities. Teens are given a fictional occupation, salary, credit score, spouse and child, student loan debt, credit card debt, and medical insurance payments. Then, the student participants encounter various stations to “purchase” housing, transportation, food, clothing, childcare, and other needs. Running out of money or encounter a sticky situation? Students visit the “credit union” to help with any of their financial needs.

    “By providing this experience, we are empowering our local students – the next generation of leaders – with the knowledge and confidence to make smart financial decisions early on in life. It is incredibly rewarding to see their enthusiasm and curiosity as the students engage with real-world financial concepts not necessarily taught in a typical classroom setting.” says Natalia Custodio, Vice President of Marketing at UNCLE. This hands-on activity teaches teens how to make financial decisions they will encounter in their adult life and shows the challenges they may encounter along the way.

    Credit unions live by the motto of People Helping People. UNCLE Credit Union employees invited other employees from Pacific Service Credit Union and Patelco Credit Union to provide volunteers to make this event happen.

    Interested in bringing a free program like Bite of Reality to your school? Contact UNCLE at marketing@unclecu.org.

    About UNCLE Credit Union
    Founded in 1957, UNCLE Credit Union offers the benefits of membership to anyone who lives, works, worships or attends school in Alameda, Contra Costa, San Joaquin, or Stanislaus counties. With over $750 million in assets and over 38,000 members, UNCLE Credit Union provides a wide range of financial solutions including checking and savings accounts, consumer and auto loans, mortgage products, credit cards, business banking, and a full suite of investment and financial planning services under its Wealth Management Center. UNCLE provides its members with access to 5,000+ shared branches and nearly 30,000 ATMs via the Shared Branching Network. To learn more, visit www.unclecu.org.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/75441228-8f3a-4ff3-a2c5-ea972de01c4a

    The MIL Network –

  • MIL-OSI: Ascent Solar Technologies Receives Order for Advanced Space PV Module Design Revision

    Source: GlobeNewswire (MIL-OSI)

    THORNTON, Colo., March 27, 2025 (GLOBE NEWSWIRE) — Ascent Solar Technologies (“Ascent” or the “Company”) (Nasdaq: ASTI), the leading U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, today announced that it has received an order to revise the design of its space solar products after being evaluated by a potential customer interested in technologies capable of receiving beamed power.

    Ascent’s CIGS PV products have undergone performance testing by multiple third parties evaluating technologies for receiving beamed power. An initial beamed-power optimized module was designed, prototyped, and delivered to multiple third parties for testing and evaluation in less than one month’s time.

    Analysis of both the preliminary commercial off-the-shelf CIGS PV module and the beamed power optimized CIGS PV module prototype test data validated Ascent’s CIGS PV material’s superior thermal properties and demonstrated a pathway to further increase performance and power output. This design iteration was the basis of the most recent order received for the enhanced prototype after additional testing conducted this week. The Company is now fine-tuning module design modifications.

    “As interest grows for power beaming and space-based solar power, our thin-film PV technology will stand out as a clear solution for that maximizing efficiency while mitigating the risks around solar solutions in space,” said Paul Warley, CEO of Ascent Solar Technologies. “As we continue to fine-tune our technology to meet each of our customers’ unique needs, we expect to experience increased demand and revenue opportunities.”

    Ascent’s ability to quickly design, iterate, and refine space solar array products in its 5MW manufacturing facility in Thornton, CO demonstrates the reliable Manufactured Readiness Levels (MRLs) for current and prospective customers. The Company is differentiated from traditional space solar providers’ silicon-based PV products, as Ascent’s CIGS manufacturing process allows design features and production processes to be adjusted for each customer’s application needs. These agile and bespoke design capabilities enable the Company to provide superior products relative to other prospective solar providers, meeting the needs of global customers as the space-based solar power market expands.

    To receive sales and demonstration information, please submit an inquiry here: https://ascentsolar.com/contact-us.

    About Ascent Solar Technologies, Inc.

    Backed by 40 years of R&D, 15 years of manufacturing experience, numerous awards, and a comprehensive IP and patent portfolio, Ascent Solar Technologies, Inc. is a leading provider of innovative, high-performance, flexible thin-film solar panels for use in environments where mass, performance, reliability, and resilience matter. Ascent’s photovoltaic (PV) modules have been deployed on space missions, multiple airborne vehicles, agrivoltaic installations, in industrial/commercial construction as well as an extensive range of consumer goods, revolutionizing the use cases and environments for solar power. Ascent Solar’s research and development center and 5-MW nameplate production facility is in Thornton, Colorado. To learn more, visit https://www.ascentsolar.com.

    Forward-Looking Statements

    Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” including statements about the financing transaction, our business strategy, and the potential uses of the proceeds from the transaction. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. We have based these forward-looking statements on our current assumptions, expectations, and projections about future events. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “will,” “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company’s filings with the Securities and Exchange Commission including those discussed under the heading “Risk Factors” in our most recently filed reports on Forms 10-K and 10-Q.

    Media Contact

    Spencer Herrmann
    FischTank PR
    ascent@fischtankpr.com

    The MIL Network –

  • MIL-OSI: Sprott Physical Silver Trust Net Asset Value Reaches $6 Billion

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Sprott Inc. (NYSE/TSX: SII) (“Sprott”) on behalf of the Sprott Physical Silver Trust (NYSE Arca/TSX: PSLV) (“PSLV” or the “Trust”) today announced that PSLV’s net asset value (“NAV”) has surpassed US$6 billion.

    “We would like to thank our unitholders for their trust and support in helping the Sprott Physical Silver Trust reach this significant milestone,” said John Ciampaglia, Chief Executive Officer of Sprott Asset Management. “PSLV provides investors with an alternative way to own fully allocated and segregated physical silver at a time when physical ownership has never been more important.”

    ““PSLV is fully backed by physical silver which is redeemable, subject to minimum investment size, and does not store its metal with bullion banks,” continued Mr. Ciampaglia. “PSLV is a liquid exchange-listed vehicle, which is easy to buy and sell at price levels that closely correspond to the spot silver market.”

    Key statistics:

    • PSLV is the second largest exchange listed physical silver fund in the world1 with 182.1 million ounces of silver held on behalf of its unitholders
    • PSLV has purchased over 120 million ounces since the beginning of 2020 and 1.5 million ounces so far in 2025
    • PSLV received physical redemption requests for 866 thousand ounces of silver in 2024 and has received no physical redemption requests in 2025

    About Sprott

    Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California and the company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol “SII“. For more information, please visit www.sprott.com.

    About the Trust

    Important information about the Trust, including the investment objectives and strategies, applicable management fees, and expenses, is contained in the prospectus. Please read the prospectus carefully before investing. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Trusts on the Toronto Stock Exchange (“TSX”) or the New York Stock Exchange (“NYSE”). If the units are purchased or sold on the TSX or the NYSE, investors may pay more than the current net asset value when buying units or shares of the Trusts and may receive less than the current net asset value when selling them. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    ______________________

    1 Based on Morningstar’s universe of listed investment funds. Data as of 12/31/2024

    Caution Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of applicable United States securities laws and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements in this press release include, without limitation, our statements about price levels of the Trust closely corresponding to the spot silver markets.
    With respect to the forward-looking statements contained in this press release, the Trust has made numerous assumptions regarding, among other things, the silver market and the trading of Trust units. While the Trust considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause the Trust’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release. A discussion of risks and uncertainties facing the Trust appears in the Trust’s continuous disclosure filings, which are available at www.sec.gov and www.sedarplus.ca. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and the Trust disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.

    Investor Contact:

    Glen Williams
    Managing Partner
    Investor and Institutional Client Relations
    Direct: 416-943-4394
    gwilliams@sprott.com

    Media contact:

    Dan Gagnier
    Gagnier Communications
    (646) 569-5897
    sprott@gagnierfc.com

    The MIL Network –

  • MIL-OSI: Great Southern Bancorp, Inc. Announces First Quarter 2025 Preliminary Earnings Release Date and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    SPRINGFIELD, Mo., March 27, 2025 (GLOBE NEWSWIRE) — Great Southern Bancorp, Inc. (NASDAQ:GSBC), the holding company for Great Southern Bank, expects to report first quarter preliminary earnings after the market closes on Wednesday, April 16, 2025, and host a conference call on Thursday, April 17, 2025, at 2:00 p.m. Central Time (3:00 p.m. Eastern Time).

    The call will be available live or later in a recorded version at the Company’s Investor Relations website, https://investors.greatsouthernbank.com.

    Participants may register for the call here. While not required, it is recommended that participants join 10 minutes prior to the event start. Instructions are provided to ensure the necessary audio applications are downloaded and installed. Users can obtain these programs at no cost.

    The Company will notify the public that first quarter 2025 results have been issued through a news release and will post the results to the Company’s Investor Relations website. The earnings release will also be available on the Securities and Exchange Commission’s (SEC) website, www.sec.gov, as an exhibit to a Current Report on Form 8-K that will be furnished by the Company to the SEC.

    About Great Southern Bank

    With total assets of $6.0 billion, Great Southern offers a broad range of banking services to commercial and consumer customers. Headquartered in Springfield, Missouri, the Company operates 89 retail banking centers in Missouri, Iowa, Kansas, Minnesota, Arkansas and Nebraska, and commercial loan production offices in Atlanta; Charlotte, North Carolina; Chicago; Dallas; Denver; Omaha, Nebraska; and Phoenix. Great Southern Bancorp is a public company and its common stock (ticker: GSBC) is listed on the NASDAQ Global Select Market.

    CONTACT:

    Zack Mukewa,
    Investor Relations,
    (616) 233-0500
    GSBC@lambert.com

    The MIL Network –

  • MIL-OSI: NextNav Announces Closing of $190 Million of 5% Redeemable Senior Secured, Convertible Notes Transaction

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., March 27, 2025 (GLOBE NEWSWIRE) — NextNav Inc. (the “Company” or “NextNav”) [NASDAQ: NN], a leader in next-generation positioning, navigation, and timing (“PNT”) and 3D geolocation, today announced the successful closing of the previously announced private placement of $190 million of 5% redeemable senior secured convertible notes due 2028 (“the Private Placement”). The net proceeds from the Private Placement were approximately $188.6 million after deducting certain fees and expenses (the “Net Proceeds”).

    The Company intends to use a portion of the Net Proceeds to redeem its $70 million aggregate principal amount of 10% Senior Secured Notes due 2026 (the “Existing Notes”). The Existing Notes will be redeemed in full at 101% of the principal amount plus any accrued and unpaid interest.

    About NextNav

    NextNav Inc. (Nasdaq: NN) is a leader in next-generation positioning, navigation and timing (PNT), enabling a whole new ecosystem of applications and services that rely upon 3D geolocation and PNT technology. Powered by low-band licensed spectrum, NextNav’s positioning and timing technologies deliver accurate, reliable, and resilient 3D PNT solutions for critical infrastructure, GPS resiliency and commercial use cases.

    For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/.

    Forward-Looking Statements

    This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including without limitation, statements about the redemption of the Existing Notes. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks include, but are not limited to, those related to the Company’s ability to complete the transactions on the proposed terms or on the anticipated timeline, or at all. These forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Readers are directed to the Company’s periodic and other reports filed with the Securities and Exchange Commission (the “SEC”) for a description of such risks and uncertainties. The Company undertakes no obligation to update any forward-looking statements. In evaluating those statements, you should specifically consider various factors, including the risks and uncertainties discussed in the Company’s Annual and Quarterly Reports on Forms 10-K and 10-Q and in other reports the Company files with the SEC. Actual events or the Company’s actual results may differ materially from the forward-looking statements.

    Source: NN-FIN

    Investor Contact:
    IR@nextnav.com

    Media Contact:
    NNmedia@nextnav.com

    The MIL Network –

  • MIL-OSI: Wintrust Names New Leader for Brand, Engagement, and Impact

    Source: GlobeNewswire (MIL-OSI)

    ROSEMONT, Ill., March 27, 2025 (GLOBE NEWSWIRE) — Wintrust Financial Corporation (Nasdaq: WTFC) today announced Amy Yuhn has been named Executive Vice President for Brand, Engagement, and Impact, a new position that will oversee marketing, corporate communications, and community impact for the company.

    “We are pleased to welcome Amy to Wintrust,” said Tim Crane, President and Chief Executive Officer, Wintrust. “Under Amy’s leadership, we will continue to build our brand, enhance internal and external engagement, and support our community outreach to further our mission to serve our clients, strengthen our communities, and grow our businesses.”

    Yuhn joined Wintrust from CIBC, where she spent 15 years as Chief Marketing Officer and Head of Corporate Communications for CIBC U.S. (formerly The PrivateBank) before most recently serving as Head of CIBC’s U.S. Personal and Community Development Banking Group. She began her career as a journalist with The Associated Press and Reuters and then joined the Corporate Communications team at Harris Bank (now BMO) before moving to The PrivateBank to build its corporate communications and marketing programs.

    “Wintrust is a well-respected company whose focus on client relationships and community engagement is a real differentiator,” Yuhn said. “I look forward to working with the team across Wintrust to show that our different approach drives better results for our clients, our employees, our communities, and our shareholders.”

    Yuhn earned her bachelor’s degree in journalism from Michigan State University and her master’s degree in organizational communication at Northwestern University. She serves on the board of the Women’s Business Development Center, where she is chair of the Fundraising Committee.

    About Wintrust
    Wintrust is a financial holding company with $64.9 billion in assets whose common stock is traded on the NASDAQ Global Select Market. Guided by its “Different Approach, Better Results®” philosophy, Wintrust offers the sophisticated resources of a large bank while providing a community banking experience to each customer. Wintrust operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges. For more information, please visit wintrust.com.

    FOR MORE INFORMATION CONTACT:
    Timothy S. Crane, President & Chief Executive Officer
    David A. Dykstra, Vice Chairman & Chief Operating Officer
    (847) 939-9000
    Website address: www.wintrust.com

    The MIL Network –

  • MIL-OSI: Joseph Nigro Appointed to Eos Energy Enterprises Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    EDISON, N.J., March 27, 2025 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), America’s leading innovator in designing, manufacturing, and providing zinc-based long duration energy storage systems sourced and manufactured in the United States, today announced that Joseph Nigro, former CFO of Exelon Corporation (NADSDAQ: EXC) and CEO of Constellation Energy (then operating division of Exelon), has been appointed to the Eos Board of Directors, effective March 26, 2025. Nigro’s extensive leadership across both competitive and regulated energy markets is instrumental as Eos advances its mission to deliver safe, sustainable, and American-made energy storage.

    “We are thrilled to welcome Joe to the Eos board,” said Russ Stidolph, Chairman of Eos. “His decades of experience leading some of the most significant players in the energy industry, along with his deep financial and operational expertise, will be incredibly valuable as we continue to scale our operations and build long-term value for our stakeholders.”

    With three decades of experience in the energy industry, Nigro brings a wealth of knowledge and executive leadership to the board. His distinguished career includes serving as Chief Financial Officer of Exelon, overseeing the financial strategy for the company’s entire utility and generation portfolio. Nigro also served as Chief Executive Officer of Constellation Energy, a then Exelon Corporation operating division and their largest, where he successfully led efforts to strengthen the company’s market position and operational efficiency. Nigro’s career began at PECO Energy, now an Exelon Corporation company, in the 1990s and spent seven years prior with Phibro Energy, Inc., an independent oil trading and refining company. His extensive background spans across trading, operating, and financial strategy, providing a deep understanding of the full energy value chain.

    “Joe’s experience in the power industry brings a unique perspective that make him a natural fit for our board,” said Joe Mastrangelo, Eos Chief Executive Officer. “He understands what it takes to lead at scale, and his insight will help guide our execution and strengthen our position as America’s battery.”

    Currently, Nigro serves on the board of Talen Energy Corporation (NASDAQ: TLN), a leading independent power producer and energy infrastructure company with a diverse generation fleet. He is also an advisor to Blackstone’s energy transition practice and serves on the board of Kindle Energy, a portfolio company focused on generation assets. His extensive governance expertise across both mature and growth-oriented companies strengthens Eos’ leadership and complements its strategic vision.

    “I am honored to join the Eos board at such a dynamic moment for the Company and the energy industry at large,” said Nigro. “Eos is addressing a critical need for long-duration storage with a highly flexible American-made solution, and I’m excited to help guide the Company’s global growth.”

    Nigro’s appointment reflects Eos’ ongoing commitment to maintaining a world-class board with the expertise necessary to advance its strategic priorities and position the Company for accelerated growth.

    About Eos Energy Enterprises

    Eos Energy Enterprises, Inc. is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth™ aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. It is safe, scalable, efficient, sustainable, manufactured in the U.S., and the core of our innovative systems that today provides utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 3 to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.


    Forward-Looking Statements

    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our expected revenue, for the fiscal years December 31, 2025, our path to profitability and strategic outlook, statements regarding orders backlog and opportunity pipeline, statements regarding our expectation that we can continue to increase product volume on our state-of-the-art manufacturing line, statements regarding our future expansion and its impact on our ability to scale up operations, statements regarding our expectation that we can continue to strengthen our overall supply chain, statements regarding our expectation that our new comprehensive insurance program will provide increased operational and economic certainty, statements that refer to the delayed draw term loan with Cerberus, milestones thereunder and the anticipated use of proceeds, statements that refer to outlook, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to achieve the operational milestones on the delayed draw term loan; our ability to raise financing in the future; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, consequences for failure to meet milestones and contractual lockup of shares; our customers’ ability to secure project financing; the amount of final tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act; the timing and availability of future funding under the Department of Energy Loan Facility; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; our ability to convert firm order backlog and pipeline to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and other countries and the potential costs of regulatory compliance; risks associated with changes to the U.S. trade environment; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably, maintain relationships with customers and suppliers and retain our management and key employees; risks related to the adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; changes in applicable laws or regulations; the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; other factors beyond our control; risks related to adverse changes in general economic conditions; and other risks and uncertainties.

    The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release.

    Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI: Greystone Housing Impact Investors LP Issues 2,000,000 Series B Preferred Units

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., March 27, 2025 (GLOBE NEWSWIRE) — Greystone Housing Impact Investors LP (NYSE: GHI) (“the Partnership”) announced today that on March 26, 2025 the Partnership executed a Subscription Agreement to issue 2,000,000 additional Series B Preferred Units representing limited partnership interests in the Partnership (the “Series B Preferred Units”) to an existing institutional investor, resulting in $20,000,000 in new aggregate proceeds to the Partnership. The stated value of the newly issued Series B Preferred Units is $20,000,000. The Series B Preferred Units were issued in accordance with the Partnership’s existing “shelf” registration statement on Form S-3 (Reg. No. 333-282185) for the issuance of up to 10,000,000 of Series B Preferred Units.

    The Series B Preferred Units are a non-cumulative, non-convertible, and non-voting class of limited partnership interests in the Partnership for which the holder has an option to have the units redeemed on the sixth anniversary of the acquisition date and each subsequent anniversary thereafter. The transaction provides the Partnership with $20.0 million of new low-cost capital. The earliest potential redemption date for the newly issued Series B Preferred Units is March 2031, with certain exceptions.

    “We are pleased to announce our latest Series B Preferred Unit issuance, which provides non-dilutive, fixed-rate, and low cost institutional capital to execute on our strategy for the benefit of our unitholders,” said Kenneth C. Rogozinski, Chief Executive Officer of the Partnership. “This institutional investor has now invested $70 million into the Partnership through multiple series of preferred units. This transaction also underscores the Partnership’s ability to bolster its liquidity position in a cost-effective fashion despite a persistently elevated interest rate environment.”

    About Greystone Housing Impact Investors LP

    Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022, taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.

    Safe Harbor Statement

    Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the Securities and Exchange Commission, including but not limited to, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    CONTACT:
    Andy Grier
    Senior Vice President
    402-952-1235

    The MIL Network –

  • MIL-OSI: Abacus Global Management Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    – Delivered Record Full Year Revenue and Growth While Executing on Strategic Acquisitions and Initiatives –

    – Fourth Quarter 2024 Total Revenue Grows 40% Year-over-Year to $33.2 Million –

    – Full-Year Policy Originations Grow 63% to 1,034 –

    – Initiating Full Year 2025 Outlook for Adjusted Net Income Between $70 and $78 Million –

    ORLANDO, Fla., March 27, 2025 (GLOBE NEWSWIRE) — Abacus Global Management (“Abacus” or the “Company”) (NASDAQ: ABL), a leader in the alternative asset management space, today reported results for the fourth quarter ended December 31, 2024.

    “We concluded 2024 with another solid quarter of profitable growth and significant milestones, capping off a record year for Abacus. In addition to our strong financial results, we undertook meaningful strategic initiatives that have significantly expanded our business. Over the past 12 months, we strengthened our executive team through key hires, successfully raised substantial equity capital to fuel our growth initiatives, secured significant debt financing to optimize our capital structure, completed two strategic acquisitions that expanded our capabilities and market reach, and dramatically grew both the scope and scale of our operations across multiple business lines and geographies.”

    “Subsequent to year-end, in early March, we successfully rebranded to Abacus Global Management, which better reflects our evolution and global market presence. As we look ahead, we’re off to a strong start in 2025 – expecting to once again grow our adjusted net income for the full year by over 50%. We remain very excited about our vast market opportunity and are well positioned to capitalize on our momentum to drive long-term growth and create shareholder value.”

    Fourth Quarter 2024 Highlights

    • Total revenue for the fourth quarter of 2024 grew 40% to $33.2 million, compared to $23.6 million in the prior-year period. The increase was primarily driven by higher active management revenue, increased capital deployed and more policies sold directly to third parties.
    • Origination capital deployment for the fourth quarter of 2024 increased 41% to $96.6 million, compared to $68.3 million in the prior-year period; number of policy originations for the fourth quarter of 2024 was 214.
    • GAAP net loss attributable to shareholders for the fourth quarter of 2024 was $18.3 million, compared to net loss of $6.2 million in the prior-year period, primarily driven by an $18.6 million increase in non-cash expenses related to employee stock compensation, as well as non-recurring acquisition-related costs and higher interest expense.
    • Adjusted net income (a non-GAAP financial measure) for the fourth quarter of 2024 more than doubled to $13.4 million, compared to $5.9 million in the prior-year period.
    • Adjusted EBITDA (a non-GAAP financial measure) for the fourth quarter of 2024 grew 51% to $16.6 million, compared to $11.1 million in the prior-year period. Adjusted EBITDA margin (a non-GAAP financial measure) for the fourth quarter of 2024 was 50.0%, compared to 46.7% in the prior-year period.
    • Annualized return on invested capital (ROIC) (a non-GAAP financial measure) for the fourth quarter of 2024 was 11%.
    • Annualized Return on equity (ROE) (a non-GAAP financial measure) for the fourth quarter of 2024 was 13%.

    Full Year 2024 Results

    • Full year 2024 total revenues grew 69% to $111.9 million, compared to $66.4 million in the prior year, primarily driven by higher active management revenue, increased capital deployed and more policies sold directly to third parties.
    • Originations capital deployment for the full year 2024 was $327.8 million, an increase of 50% from the prior year; number of policy originations grew 63% to 1,034, compared to 633 in the prior year.
    • GAAP net loss attributable to shareholders for the full year 2024 was $24.0 million, compared to net GAAP income of $9.5 million in the prior year.
    • Adjusted net income (a non-GAAP financial measure) for the full year 2024 increased 58% to $46.5 million, compared to $29.4 million in the prior year, primarily due to increases in non-cash stock-based compensation and related tax effect, acquisition-related costs, and acquired intangible asset amortizations.
    • Adjusted EBITDA for the full year 2024 grew 57% to $61.6 million, compared to $39.3 million in the prior year. Adjusted EBITDA margin (a non-GAAP measure) for the full year 2024 was 55.0%, compared to 59.2% in the prior year.
    • Return on invested capital (ROIC) (a non-GAAP measure defined below) for the full year 2024 was 15%.
    • Return on equity (ROE) (a non-GAAP measure defined below) for the full year 2024 was 17%.

    Liquidity and Capital

    As of December 31, 2024, the Company had cash and cash equivalents of $128.8 million, balance sheet policy assets of $371.4 million and outstanding long-term debt of $342.4 million.

    2025 Outlook

    The company is initiating its full year 2025 outlook for Adjusted net income to be between $70 million and $78 million. The range implies growth of between 51% to 68% compared to full year 2024 Adjusted net income of $46.5 million.

    The Company is unable to provide a comparable outlook for, or a reconciliation to net income because it cannot provide a meaningful or accurate calculation or estimation of certain reconciling items without unreasonable effort. Its inability to do so is due to the inherent difficulty in forecasting the timing of items that have not yet occurred and quantifying certain amounts that are necessary for such reconciliation, including variations in effective tax rate, expenses to be incurred for acquisition activities, and other one-time or exceptional items.

    For a definition of Adjusted net income, see “Non-GAAP Financial Information” below.

    Webcast and Conference Call

    A webcast and conference call to discuss the Company’s results will be held today beginning at 5:00 p.m. (Eastern Time). A live webcast of the conference call will be available on Abacus’ investor relations website at ir.abacusgm.com. The dial-in number for the conference call is (877) 407-9716 (toll-free) or (201) 493-6779 (international). Please dial the number 10 minutes prior to the scheduled start time.

    A webcast replay of the call will be available at ir.abacusgm.com for one year following the call.

    Non-GAAP Financial Information

    Adjusted Net Income, a non-GAAP financial measure, is defined as net income (loss) attributable to Abacus adjusted for non-controlling interest income, amortization, change in fair value of warrants and non-cash stock-based compensation and the related tax effect of those adjustments. Management believes that Adjusted Net Income is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance. A reconciliation of Adjusted Net Income to Net income attributable to Abacus, the most directly comparable GAAP measure, appears below.

    Adjusted EBITDA, a non-GAAP financial measure, is defined as net income (loss) attributable to Abacus adjusted for depreciation expense, amortization, interest expense, income tax and other non-cash and certain non-recurring items that in our judgement significantly impact the period-over-period assessment of performance and operating results that do not directly relate to business performance within Abacus’ control. A reconciliation of Adjusted EBITDA to Net income attributable to Abacus Global Management, the most directly comparable GAAP measure, appears below.

    Adjusted EBITDA margin, a non-GAAP financial measure, is defined as Adjusted EBITDA divided by Total revenues. A reconciliation of Adjusted EBITDA margin to Net income margin, the most directly comparable GAAP measure, appears below.

    Annualized return on invested capital (ROIC), a non-GAAP financial measure, is defined as Adjusted net income for the quarter divided by the result of Total Assets less Intangible assets, net, Goodwill and Current Liabilities multiplied by four. ROIC is not a measure of financial performance under GAAP. We believe ROIC should be considered in addition to, not as a substitute for, operating income or loss, net income or loss, cash flows provided by or used in operating, investing and financing activities or other income statement or cash flow statement line items reported in accordance with GAAP.

    Annualized return on equity (ROE), a non-GAAP financial measure, is defined as Adjusted net income divided by total shareholder equity multiplied by four. ROE is not a measure of financial performance under GAAP. We believe ROE should be considered in addition to, not as a substitute for, operating income or loss, net income or loss, cash flows provided by or used in operating, investing and financing activities or other income statement or cash flow statement line items reported in accordance with GAAP. The below table presents our calculation of ROE.

    Forward-Looking Statements

    All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding: Abacus’s financial and operational outlook; Abacus’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” “intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

    While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the fact that Abacus’s loss reserves are bases on estimates and may be inadequate to cover its actual losses; the failure to properly price Abacus’s insurance policies; the geographic concentration of Abacus’s business; the cyclical nature of Abacus’s industry; the impact of regulation on Abacus’s business; the effects of competition on Abacus’s business; the failure of Abacus’s relationships with independent agencies; the failure to meet Abacus’s investment objectives; the inability to raise capital on favorable terms or at all; the effects of acts of terrorism; and the effectiveness of Abacus’s control environment, including the identification of control deficiencies.

    These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with the U.S. Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations.

    About Abacus Global Management

    Abacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide.

    Contacts :

    Investor Relations

    Robert F. Phillips – SVP Investor Relations and Corporate Affairs
    rob@abacusgm.com
    (321) 290-1198

    David Jackson – IR/Capital Markets Associate
    david@abacusgm.com
    (321) 299-0716

    Abacus Global Management Public Relations
    press@abacusgm.com

     
    ABACUS GLOBAL MANAGEMENT, INC. CONSOLIDATED BALANCE SHEET
         
      December 31, December 31,
        2024     2023  
    ASSETS    
    CURRENT ASSETS:    
    Cash and cash equivalents $ 131,944,282   $ 25,588,668  
    Equity securities, at fair value   –     2,252,891  
    Accounts receivable   15,785,531     2,149,111  
    Accounts receivable, related party   7,113,369     79,509  
    Due from affiliates   1,527,062     1,007,528  
    Other receivables   –     –  
    Income taxes receivable   2,099,673     –  
    Prepaid expenses and other current assets   1,094,729     699,127  
    Total current assets   159,564,646     31,776,834  
         
    Property and equipment, net   1,025,066     400,720  
    Intangible assets, net   79,786,793     29,623,130  
    Goodwill   238,296,200     140,287,000  
    Operating right-of-use assets   4,722,573     1,893,659  
    Life settlement policies, at cost   1,083,977     1,697,178  
    Life settlement policies, at fair value   370,398,447     122,296,559  
    Noncurrent management and performance fee receivable, related party   13,379,301     –  
    Available-for-sale securities, at fair value   2,205,904     1,105,935  
    Other investments, at cost   1,850,000     1,650,000  
    Other assets   1,851,845     998,945  
    Equity securities, at fair value   –     96,107  
    TOTAL ASSETS $ 874,164,752   $ 331,826,067  
         
    LIABILITIES AND STOCKHOLDERS’ EQUITY    
    CURRENT LIABILITIES:    
    Current portion of long-term debt, at fair value $ 37,430,336   $ 13,029,632  
    Current portion of long-term debt   1,000,000     –  
    Accrued expenses   6,139,472     4,354,225  
    Operating lease liabilities   515,597     118,058  
    Due to affiliates   –     5,236  
    Due to former members   –     1,159,712  
    Contract liabilities, deposits on pending settlements   2,473,543     507,000  
    Accrued transaction costs   483,206     –  
    Other current liabilities   14,423,925     3,400,734  
    Income taxes payable   –     751,734  
    Total current liabilities   62,466,079     23,326,331  
         
    Long-term debt, net   224,742,029     33,818,090  
    Long-term debt, at fair value, net   105,120,100     55,318,923  
    Long-term debt, related party   12,525,635     37,653,869  
    Noncurrent retrocession fee payables   5,312,214     –  
    Operating lease liabilities   4,580,158     1,796,727  
    Deferred tax liability   26,778,865     9,199,091  
    Warrant liability   9,345,000     6,642,960  
    TOTAL LIABILITIES   450,870,080     167,755,991  
         
    COMMITMENTS AND CONTINGENCIES    
    Preferred stock, $0.0001 par value; 1,000,000 authorized shares authorized; none issued or outstanding   –     –  
    Class A common stock, $0.0001 par value; 200,000,000 authorized shares; 96,731,194 and 63,388,823 shares issued at December 31, 2024 and 2023, respectively   10,133     6,339  
    Treasury stock – at cost; 1,048,226 and 146,650 shares repurchased at December 31, 2024 and 2023, respectively   (12,025,137 )   (1,283,062 )
    Additional paid-in capital   494,064,113     199,826,278  
    Accumulated deficit   (57,896,606 )   (34,726,135 )
    Accumulated other comprehensive income   –     108,373  
    Non-controlling interest   (857,831 )   138,283  
    Total stockholders’ equity   423,294,672     164,070,076  
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 874,164,752   $ 331,826,067  
         
    ABACUS GLOBAL MANAGEMENT, INC. CONSOLIDATED STATEMENT OF OPERATIONS
               
      Three Months Ended December 31,   Years Ended December 31,
        2024     2023       2024     2023  
    REVENUES:          
    Active management $ 29,041,030   $ 21,274,316     $ 102,819,361   $ 61,195,377  
    Origination fees   1,062,910     2,233,683       5,457,147     4,203,900  
    Asset management fees   2,841,481     –       2,841,481     –  
    Portfolio servicing fees   232,960     187,548       772,169     1,002,174  
    Technology services   33,628     –       33,628     –  
    Total revenues   33,212,009     23,695,547       111,923,786     66,401,451  
    COST OF REVENUES (excluding depreciation and amortization stated below):        
    Cost of revenue (including stock-based compensation)   3,719,321     1,570,994       11,371,733     6,390,921  
    Related party cost of revenue   –     91,476       –     99,456  
    Cost of revenue (including stock-based compensation)   3,719,321     1,662,470       11,371,733     6,490,377  
    Gross Profit   29,492,688     22,033,077       100,552,053     59,911,074  
    OPERATING EXPENSES:          
    Sales and marketing   2,411,442     1,788,748       9,063,384     4,905,747  
    General and administrative (including stock-based compensation)   40,338,172     15,369,189       81,734,518     26,482,571  
    Loss on change in fair value of debt   799,024     2,046,193       4,835,351     2,356,058  
    Unrealized loss (gain) on investments   1,458,173     (877,754 )     238,012     (1,369,112 )
    Realized gain on investments   (1,484,322 )   –       (2,341,066 )   –  
    Depreciation and amortization expense   2,732,373     1,712,934       7,910,158     3,409,928  
    Total operating expenses   46,254,862     20,039,310       101,440,357     35,785,192  
    Operating (loss) income   (16,762,174 )   1,993,767       (888,304 )   24,125,882  
    OTHER INCOME (EXPENSE):          
    Loss on change in fair value of warrant liability   5,785,000     (3,260,960 )     (2,702,040 )   (4,204,360 )
    Interest (expense)   (5,861,740 )   (6,246,126 )     (18,279,686 )   (9,866,821 )
    Interest income   727,863     523,481       2,398,691     594,764  
    Other income (expense)   (94,570 )   (144,879 )     38,040     (146,443 )
    Total other income (expense)   556,553     (9,128,484 )     (18,544,995 )   (13,622,860 )
    Net (loss) income before provision for income taxes   (16,205,621 )   (7,134,717 )     (19,433,299 )   10,503,022  
    Income tax expense   2,803,883     (769,885 )     5,484,738     1,468,535  
    NET (LOSS) INCOME   (19,009,504 )   (6,364,832 )     (24,918,037 )   9,034,487  
    LESS: NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST   (752,271 )   (142,447 )     (956,987 )   (482,139 )
    NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (18,257,233 ) $ (6,222,385 )   $ (23,961,050 ) $ 9,516,626  
               
    (LOSS) EARNINGS PER SHARE:          
    (Loss) earnings per share—basic $ (0.22 ) $ (0.10 )   $ (0.34 ) $ 0.17  
    (Loss) earnings per share—diluted $ (0.22 ) $ (0.10 )   $ (0.34 ) $ 0.16  
               
    Weighted-average stock outstanding—basic [1]   81,784,013     63,352,743       70,761,830     56,951,414  
    Weighted-average stock outstanding—diluted [1]   81,784,013     64,169,227       70,761,830     57,767,898  
               
    [1] The 2023 number of shares outstanding and their par value have been retrospectively recast for all prior periods presented to reflect the par value of the outstanding stock of Abacus Life, Inc. as a result of the Business Combination.
               
    ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED NET INCOME AND ADJUSTED EPS
               
        Full Year Full Year For the three months ended
          2024     2023   12/31/2024 12/31/2023
    Adjusted Net Income and Adjusted EPS          
    Net income attributable to Abacus Life, Inc.   $ (23,961,050 ) $ 9,516,626   $ (18,257,233 ) $ (6,222,383 )
    Net income attributable to non-controlling interests     (956,987 )   (482,139 )   (752,271 )   (142,447 )
    Depreciation and Amortization expense     7,748,269     3,364,167     2,676,144     1,682,084  
    Stock compensation expense     43,435,215     10,768,024     24,760,007     6,184,392  
    Business Acquisition Accounting expenses     8,403,065     –     5,129,947     –  
    Change in fair value of warrant liability     2,702,040     4,204,360     (5,785,000 )   3,260,960  
    Tax impact of executive RSUs     9,151,161     2,069,993     5,632,379     1,161,722  
    Adjusted Net Income   $ 46,521,713   $ 29,441,031   $ 13,403,973   $ 5,924,328  
               
    Weighted-average shares of Class A common stock outstanding     70,761,830     56,951,414     81,784,013     64,169,227  
    Adjusted EPS   $ 0.66   $ 0.52   $ 0.16   $ 0.09  
               
               
    ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED EBITDA
               
        Full Year Full Year For the three months ended
    Adjusted EBITDA     2024     2023   12/31/2024 12/31/2023
    Net income   $ (24,918,037 ) $ 9,034,487   $ (19,009,504 ) $ (6,364,830 )
    Depreciation and Amortization     7,910,159     3,409,928     2,732,374     1,712,934  
    Interest expense     18,279,686     9,866,821     5,861,740     6,246,126  
    Interest income     (2,398,691 )   (594,764 )   (727,863 )   (523,481 )
    Income Tax     5,484,738     1,468,535     2,803,883     (769,884 )
    Stock compensation     43,435,215     10,768,024     24,760,007     6,184,392  
    Other (Income) / Expenses     (38,040 )   146,443     94,570     144,878  
    Change in fair value of warrant liability     2,702,040     4,204,360     (5,785,000 )   3,260,960  
    Business Acquisition expenses     8,403,065     –     5,129,947     –  
    Change in fair value of debt     4,835,351     2,356,058     799,024     2,046,193  
    Realized and Unrealized loss / (gain) on investments     (2,103,054 )   (1,369,112 )   (26,149 )   (877,756 )
    Adjusted EBITDA   $ 61,592,432   $ 39,290,780   $ 16,633,029   $ 11,059,532  
               
    Revenue   $ 111,923,786   $ 66,401,451   $ 33,212,009   $ 23,695,547  
               
    Adjusted EBITDA Margin     55 %   59 %   50 %   47 %
    Net (Loss) Income Margin     -22 %   14 %   -57 %   -27 %
               
    ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED RETURN ON INVESTED CAPITAL (ROIC)  
                   
        For the 3 mo period
    ended    		 YTD   For the 3 mo period
    ended    		 YTD  
        9/30/2024 9/30/2024   12/31/2024 12/31/2024  
    Total Assets   $ 477,309,168   $ 477,309,168     $ 874,164,752   $ 553,012,056   (1)
    Less:              
    Intangible assets, net     (24,653,141 )   (24,653,141 )     (79,786,793 )   (39,710,021 ) (1)
    Goodwill     (139,930,190 )   (139,930,190 )     (238,296,200 )   (164,610,895 ) (1)
    Total current liabilities     (23,862,348 )   (23,862,348 )     (62,466,079 )   (41,386,709 ) (1)
    Total Invested Capital   $ 288,863,489   $ 288,863,489     $ 493,615,680   $ 307,304,431    
                   
    Adjusted Net Income   $ 14,879,252   $ 33,322,456     $ 13,403,973   $ 46,521,713    
    Adjusted Annualized ROIC     21 %   15 %     11 %   15 %  
                   
    Note:              
    (1) Weighted Average for the full year.              
                   
                   
    ABACUS GLOBAL MANAGEMENT, INC. ADJUSTED RETURN ON EQUITY (ROE)  
                   
        For the 3 mo period
    ended    		 YTD   For the 3 mo period
    ended    		 YTD  
        9/30/2024 9/30/2024   12/31/2024 12/31/2024  
    Total stockholders’ equity   $ 257,939,628   $ 257,939,628     $ 423,294,672   $ 275,856,140   (1)
                   
    Adjusted Net Income   $ 14,879,252   $ 33,322,456     $ 13,403,973   $ 46,521,713    
    Adjusted Annualized ROE     23 %   17 %     13 %   17 %  
                   
    Note:              
    (1) Weighted Average for the full year            

    The MIL Network –

  • MIL-OSI: Prestige Wealth Inc. to Change Business Address

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, March 27, 2025 (GLOBE NEWSWIRE) — Prestige Wealth Inc. (Nasdaq: PWM) (the “Company” or “Prestige Wealth”), a wealth management and asset management services provider based in Hong Kong, today announced that the Company will change its business address and mailing address to Office Unit 6620B, 66/F, The Center, 99 Queen’s Road Central, Central, Hong Kong, effective March 27, 2025.

    The Company believes that the new, easily accessible location provides a conducive environment for the Company to maintain highest standards of excellence and customer satisfaction, enhance operations, and better serve the Company’s valued clients and partners.

    About Prestige Wealth Inc. 

    Prestige Wealth Inc. is a wealth management and asset management services provider based in Hong Kong, assisting its clients in identifying and purchasing well-matched wealth management products and global asset management products. With a focus on quality service, the Company has retained a loyal customer base consisting of high-net-worth and ultra-high-net-worth clients in Asia. Through the Company’s wealth management service, it introduces clients to customized wealth management products and provides them with tailored value-added services. The Company provides asset management services via investment funds that it manages and also provides discretionary account management services and asset management-related advisory services to clients. For more information, please visit the Company’s website: https://ir.prestigewm.hk.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    The MIL Network –

  • MIL-OSI: CEA Industries Inc. Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Louisville, Colorado, March 27, 2025 (GLOBE NEWSWIRE) — CEA Industries Inc. (NASDAQ: CEAD, CEADW) (“CEA Industries” or the “Company”), is reporting results for the three and twelve months ended December 31, 2024.

    Fourth Quarter 2024 Financial Summary (in $ thousands, excl. margin items):

        Q4 2024

    (unaudited)

    		     Q3 2024

    (unaudited)

    		     Q4 2023

    (unaudited)

    		  
    Revenue   $ 417     $ 391     $ 251  
    Gross Profit (Loss)   $ (175 )   $ (70 )   $ (286 )
    Operating Expenses   $ 850     $ 677     $ 709  
    Net Income/(Loss)   $ (1,019 )   $ (740 )   $ (988 )


    Full Year 2024 Financial Summary     (in $ thousands, excl. margin items):

        FY 2024     FY 2023  
    Revenue   $ 2,803     $ 6,911  
    Gross Profit (Loss)   $ (220 )   $ 542  
    Operating Expenses   $ 2,952     $ 3,495  
    Net Income/(Loss)   $ (3,146 )   $ (2,912 )

    “We continue to maintain the lean cost structure we implemented last year, with a focus on expense reduction and capital preservation as we work through our remaining backlog of Controlled Environment Agriculture related work,” said Tony McDonald, Chairman and CEO of CEA Industries. “To demonstrate our commitment to shareholders, throughout 2024 we reduced headcount, eliminated product development costs, and brought down business development expenses to help preserve our balance sheet. These efforts enabled us to reduce operating expenses by approximately 16% in 2024 compared to the prior year.

    “As we announced last month, we recently signed an agreement to acquire Fat Panda, a Winnipeg, Canada based retailer and manufacturer of e-cigarettes, vape devices and e-liquids with a substantial market share in the mid-western province region. Fat Panda’s strong retail footprint, vertically integrated operations, and consistent profitability align well with our strategic objectives. By combining our expertise and resources, we aim to accelerate Fat Panda’s expansion, drive operational efficiencies, and enhance long-term value creation for our shareholders. We look forward to providing further updates following the prospective close of the transaction in the coming months.”

    Fourth Quarter 2024 Financial Results

    Revenue in the fourth quarter of 2024 increased to $0.4 million compared to $0.3 million for the same period in 2023. The increase was primarily attributed to greater revenue recognition as the Company worked through its backlog.

    Net bookings in the fourth quarter of 2024 increased to $0.5 million compared to $0.1 million in the year-ago period. The Company’s quarter-end backlog also increased to $0.5 million compared to $0.4 million for the same period in 2023. The increase in the Company’s net bookings and backlog was primarily attributed to an equipment order of approximately $400,000.

    Gross loss in the fourth quarter of 2024 reflected an improvement to $0.2 million compared to $0.3 million for the same period in 2023. The improvement in gross profit was primarily driven by a reduction in variable costs as a percentage of revenue. Variable costs include the cost of equipment, outside engineering, shipping and handling, travel and warranty.

    Operating expenses in the fourth quarter of 2024 were $0.8 million compared to $0.7 million for the same period in 2023. The increase in operating expenses was primarily due to acquisition-related expenses.

    Net loss in the fourth quarter of 2024 was $1.0 million or $(1.29) per share, compared to a net loss of $1.0 million or $(1.47) per share for the same period in 2023.

    Cash and cash equivalents were $9.5 million at December 31, 2024, compared to $12.5 million on December 31, 2023, while working capital decreased by $3.0 million during this period. At December 31, 2024, the Company remained debt free.

    About CEA Industries Inc.

    CEA Industries Inc. (www.ceaindustries.com) provides a suite of complementary and adjacent offerings to the controlled environment agriculture industry. The Company’s comprehensive solutions, when aligned with industry operators’ product and sales initiatives, support the development of the global ecosystem for indoor cultivation.

    Forward Looking Statements

    This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect our current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in “Risk Factors” set forth in our annual and quarterly reports filed with the Securities and Exchange Commission (“SEC”), and subsequent filings with the SEC. Please refer to our SEC filings for a more detailed discussion of the risks and uncertainties associated with our business, including but not limited to the risks and uncertainties associated with our business prospects and the prospects of our existing and prospective customers; the inherent uncertainty of product development; regulatory, legislative and judicial developments, especially those related to changes in, and the enforcement of, cannabis laws; increasing competitive pressures in our industry; and relationships with our customers and suppliers. Except as required by the federal securities laws, we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to CEA’s website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.

    Non-GAAP Financial Measures

    To supplement our financial results on U.S. generally accepted accounting principles (“GAAP”) basis, we use non-GAAP measures including net bookings and backlog, as well as other significant non-cash expenses such as stock-based compensation and depreciation expenses. We believe these non-GAAP measures are helpful in understanding our past performance and are intended to aid in evaluating our potential future results. The presentation of these non-GAAP measures should be considered in addition to our GAAP results and are not intended to be considered in isolation or as a substitute for financial information prepared or presented in accordance with GAAP. We believe these non-GAAP financial measures reflect an additional way to view aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business.

    Investor Contact:

    Sean Mansouri, CFA
    Elevate IR
    info@ceaindustries.com
    (720) 330-2829

    CEA Industries Inc.
    Condensed Consolidated Balance Sheets
    (in US Dollars except share numbers) 

        December 31,     December 31,  
        2024     2023  
                 
    ASSETS                
    Current Assets                
    Cash and cash equivalents   $ 9,452,826     $ 12,508,251  
    Accounts receivable, net     13,041       18,655  
    Contract assets, net     234,328       224,414  
    Inventory, net     25,980       296,404  
    Prepaid expenses and other     368,068       313,115  
    Total Current Assets     10,094,243       13,360,839  
    Noncurrent Assets                
    Property and equipment, net     5,698       38,558  
    Intangible assets, net     1,830       1,830  
    Deposits     14,747       14,747  
    Operating lease right-of-use asset     245,270       356,109  
    Total Noncurrent Assets     267,545       411,244  
                     
    TOTAL ASSETS   $ 10,361,788     $ 13,772,083  
                     
    LIABILITIES AND SHAREHOLDERS’ EQUITY                
                     
    LIABILITIES                
    Current Liabilities                
    Accounts payable and accrued liabilities   $ 550,477     $ 624,724  
    Deferred revenue     343,790       499,800  
    Current portion of operating lease liability     135,651       126,724  
    Total Current Liabilities     1,029,918       1,251,248  
                     
    Noncurrent Liabilities                
    Operating lease liability, net of current portion     134,147       259,627  
    Total Noncurrent Liabilities     134,147       259,627  
                     
    TOTAL LIABILITIES     1,164,065       1,510,875  
                     
    Commitments and Contingencies (Note 9)     –       –  
                     
    SHAREHOLDERS’ EQUITY                
    Preferred stock, $0.00001 par value; 25,000,000 shares authorized; 0 shares issued and outstanding     –       –  
    Common stock, $0.00001 par value; 200,000,000 authorized; 793,109 and 673,090 shares issued and outstanding, respectively     8       7  
    Additional paid in capital     49,533,950       49,451,493  
    Accumulated deficit     (40,336,235 )     (37,190,292 )
    Total Shareholders’ Equity     9,197,723       12,261,208  
                     
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   $ 10,361,788     $ 13,772,083  


    CEA Industries Inc.
    Condensed Consolidated Statements of Operations
    (in US Dollars except share numbers)
    (Unaudited) 

        For the Three Months Ended December 31,     For the Years Ended December 31,  
        2024     2023     2024     2023  
        (Unaudited)     (Unaudited)              
    Revenue   $ 417,447     $ 251,093     $ 2,803,470     $ 6,910,951  
                                     
    Cost of revenue     592,343       536,919       3,023,094       6,368,872  
                                     
    Gross (loss) profit     (174,896 )     (285,826 )     (219,624 )     542,079  
                                     
    Operating expenses:                                
    Advertising and marketing expenses     2,685       16,445       16,315       273,409  
    Product development costs     –       –       –       76,487  
    Selling, general and administrative expenses     846,817       693,022       2,936,145       3,145,328  
    Total operating expenses     849,503       709,467       2,952,460       3,495,224  
                                     
    Operating loss     (1,024,399 )     (995,293 )     (3,172,084 )     (2,953,145 )
                                     
    Other income :                                
    Other income, net     –       –       –       7,778  
    Interest income, net     5,761       7,774       26,141       33,816  
    Total other income     5,761       7,774       26,141       41,594  
                                     
    Loss before provision for income taxes     (1,018,638 )     (987,519 )     (3,145,943 )     (2,911,551 )
                                     
    Income taxes     –       –       –       –  
                                     
    Net loss   $ (1,018,638 )   $ (987,519 )   $ (3,145,943 )   $ (2,911,551 )
                                     
                                     
    Loss per common share – basic and diluted   $ (1.29 )   $ (1.47 )   $ (4.22 )   $ (4.33 )
                                     
    Weighted average number of common shares outstanding, basic and diluted     791,813       673,031       745,038       672,936  


    CEA Industries Inc.
    Condensed Consolidated Statements of Cash Flows
    (in US Dollars except share numbers)
    (Unaudited)

        For the Twelve Months Ended         December 31,  
        2024     2023  
    Cash Flows From Operating Activities:                
    Net loss   $ (3,145,943 )   $ (2,911,551 )
    Adjustments to reconcile net loss to net cash used in operating activities:                
    Depreciation and intangible asset amortization expense     20,065       29,655  
    Share-based compensation     82,457       187,615  
    Provision for doubtful accounts (bad debt recovery)     (40,217 )     (2,056 )
    Provision for excess and obsolete inventory     26,989       121,791  
    Loss on disposal of assets     12,796       100  
    Operating lease expense     110,839       106,765  
                     
    Changes in operating assets and liabilities:                
    Accounts receivable     45,831       (13,950 )
    Contract assets     (9,914 )     (224,414 )
    Inventory     243,435       (69,784 )
    Prepaid expenses and other     (54,953 )     1,176,806  
    Accounts payable and accrued liabilities     (74,247 )     (582,534 )
    Deferred revenue     (156,010 )     (3,838,771 )
    Operating lease liability, net     (116,553 )     (108,735 )
    Net cash used in operating activities     (3,055,425 )     (6,129,063 )
                     
    Cash Flows From Investing Activities                
    Proceeds from the sale of property and equipment     –       200  
    Net cash provided by investing activities     –       200  
                     
    Cash Flows From Financing Activities                
    Net cash provided by financing activities     –       –  
                     
    Net change in cash and cash equivalents     (3,055,425 )     (6,128,863 )
    Cash and cash equivalents, beginning of period     12,508,251       18,637,114  
    Cash and cash equivalents, end of period   $ 9,452,826     $ 12,508,251  
                     
    Supplemental cash flow information:                
    Interest paid   $ –     $ –  
    Income taxes paid   $ –     $ –  
                     
    Non-cash investing and financing activities:                
                     
    Options issued for accrued equity compensation liability   $ –     $ 89,970  

    The MIL Network –

  • MIL-OSI: NextNRG Reports Strong Fourth Quarter and Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Stronger Revenue, Improved Margins, and Expanded Volumes

    — FY 2024 Revenue Increased 20% to $27.8 Million from $23.2 Million in 2023 —
    — FY 2024 Gross Profit Grew 64% to $2.3 Million, Up from $1.4 Million in 2023 —

    — Q4 2024 Revenue Increased 21% to $6.9 Million from $5.7 Million in Q4 2023 —
    — Q4 2024 Gross Profit Grew 97% to $652 Thousand, Up from $330 Thousand in Q4 2023 —

    Conference Call Scheduled March 31stat 4:30 PM ET

    MIAMI, March 27, 2025 (GLOBE NEWSWIRE) — NextNRG, Inc. (NASDAQ: NXXT), a pioneer in AI-driven energy innovation—transforming how energy is produced, managed, and delivered through its advanced Utility Operating System, smart microgrid technology, wireless EV charging, and on-demand mobile fuel delivery solutions— today reported financial results for the fourth quarter and fiscal year ended December 31, 2024, and provided a strategic update on its key growth initiatives.

    The Company will hold a conference call to discuss its fourth quarter and full year 2024 financial results on March 31st at 4:30 pm ET. Dial in and webcast details are below.

     
    Selected Financial & Operational Highlights
     
    Metric Q4 2024
    (unaudited)    		 Q4 2023
    (unaudited)    		 FY 2024 FY 2023
    Revenue $6.9M $5.7M $27.8M $23.2M
    Gross Profit $652K $330K $2.3M $1.4M

    “We entered 2024 with the clear goal of laying the groundwork for long-term growth—and we believe we delivered on that vision,” said Michael D. Farkas, CEO of NextNRG. “Through enhanced operating efficiency and higher-margin fuel delivery, we increased revenues by 20%, expanded gross profit, while investing in transformative technologies. Our pipeline in microgrids and EV infrastructure is larger than ever, and we believe we are just beginning to unlock the full value of our platform. Additionally, our expanding footprint in mobile fueling is set to open significant opportunities to convert these fleets to electric, aligning with our commitment to sustainable energy solutions”

    Strategic and Operational Milestones

    • Corporate Rebranding: Completed transition from EzFill Holdings to NextNRG, Inc. in Q1 2025, aligning with the Company’s expanded clean energy vision.
    • Fueling Platform Growth: Delivered 7.2 million gallons in 2024 (+22% YOY), supported by 140 operational trucks across six states.
    • Smart Microgrid Pipeline: Company expects to put out guidance on expanded microgrid pipeline in the next quarter.
    • EV Innovation: Advanced static and dynamic wireless EV charging solutions (grid to vehicle and vehicle to grid capabilities) through exclusive technology licenses from Florida International University.
    • Capital Raise: Completed $15 million public offering in February 2025 to support scale and strengthen the balance sheet.

    Fiscal Year 2024 Financial Highlights

    • Revenue increased 20% year-over-year to $27.8 million, compared to $23.2 million in 2023, driven by volume growth and improved fuel margin.
    • Gross profit rose to approximately $2.3 million, a 44% increase from the prior year.
    • Cash balance at year-end was $438,299, up from $226,985 at the end of 2023.

    Fourth Quarter 2024 Performance

    • Revenue for Q4 2024 totaled $6.9 million, an increase of 21% compared to $5.7 million in Q4 2023, driven by higher fuel volumes and improved margin per gallon.
    • Gallons delivered during the quarter rose to 1.8 million, up from 1.5 million in the prior-year period, reflecting new fleet accounts and increased market penetration.
    • Average fuel margin per gallon expanded to $0.71, compared to $0.65 in Q4 2023, reflecting a continued focus on pricing optimization and operational discipline.
    • Gross profit for the quarter more than doubled year-over-year to $652,000, compared to $330,000 in Q4 2023.

    Looking Ahead

    NextNRG enters 2025 with a clear mandate: to scale its AI/ML-powered energy solutions through a combination of SaaS contracts, infrastructure deployment, and recurring mobile fueling revenue. The Company is targeting sustainable long-term growth across multiple verticals.

    “We believe NextNRG’s integrated platform—combining mobile fueling, wireless EV charging, and AI-optimized Utility Operating System and smart microgrids—is uniquely positioned to power the distributed energy future.”

    Teleconference and Webcast Information

    To participate, domestic callers may dial 1-866-524-3160 and international callers may dial 1-412-317-6760 at least 10 minutes prior to the start of the call and ask to join the NextNRG call.

    A simultaneous webcast of the call may be accessed here: https://event.choruscall.com/mediaframe/webcast.html?webcastid=YHcg0e4d

    A replay of the call will be available at 1-877-344-7529 or 1-412-317-0088, access code 1610449, through April 7, 2025. The call will also be available for replay on the Company’s website at www.nextnrg.com.

    About NextNRG, Inc.

    NextNRG Inc. (NextNRG) is Powering What’s Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging, and on-demand mobile fuel delivery to create an integrated ecosystem.

    At the core of NextNRG’s strategy is its Utility Operating System which leverages AI and ML to help make existing utilities’ energy management as efficient as possible; and the deployment of NextNRG Smart Microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs, and improve grid resiliency. These microgrids are designed to serve commercial properties, schools, hospitals, nursing homes, parking garages, rural and tribal lands, recreational facilities, and government properties, expanding energy accessibility while supporting decarbonization initiatives.

    NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility’s fuel division and Shell Oil’s trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV supporting more efficient fuel delivery while advancing clean energy adoption. The transition process is expected to include the deployment of NextNRG’s innovative wireless EV charging solutions.

    To find out more visit: www.nextnrg.com

    Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG’s goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as “expect,” “intends,” “will,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG’s business and macroeconomic and geopolitical events. These and other risks are described in NextNRG’s filings with the Securities and Exchange Commission from time to time. NextNRG’s forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements.

    Investor Relations Contact

    NextNRG, Inc.
    Sharon Cohen
    SCohen@nextnrg.com

    The MIL Network –

  • MIL-OSI: BEN Reports Fourth Quarter and Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., March 27, 2025 (GLOBE NEWSWIRE) — Brand Engagement Network Inc. (BEN) (NASDAQ: BNAI), an innovator in AI-driven customer engagement solutions, today announced its financial results and key business highlights for the fourth quarter and full year ended December 31, 2024.

    “2024 was a defining year for BEN, as we accelerated our expansion in key sectors like automotive, media, and healthcare. In Q4, we successfully integrated our AI-powered solutions with Cox Automotive’s Dealer.com and formed strategic partnerships in Mexico and Europe, further strengthening our global presence,” said Paul Chang, CEO of Brand Engagement Network. “BEN’s innovation enables businesses to adopt safe, secure, turn-key AI solutions to drive efficiency in many aspects of operations in a scalable, cost-effective manner. As we look forward to 2025, we’re excited to build on our recent momentum, refine our solutions in high-growth sectors, and further expand our AI capabilities to meet market demands.”

    Q4 2024 Key Business Highlights:

    • Walid Khiari Appointed CFO and COO: Walid Khiari, with over 20 years of experience in finance and 15 years as a technology investment banker advising software companies, will lead BEN’s next phase of innovation and global expansion.
    • Cataneo Acquisition: BEN has agreed to acquire 100% of Cataneo GmbH for $19.5 million in cash and stock to expand its global media reach and strengthen its AI-driven advertising capabilities. The transaction is subject to securing financing and obtaining customary regulatory approvals and guarantees by certain BEN shareholders. Closing is currently targeted for Q2 2025.
    • AI-Driven Radio Advertising with Vybroo & Grupo Siete: BEN and Cataneo GmbH partnered with Vybroo and Grupo Siete on a pilot program to modernize radio advertising in Mexico by streamlining ad placement and optimizing campaign performance.
    • Cox Automotive Partnership: BEN successfully integrated its Digital AI Assistant with Cox Automotive’s Dealer.com, enhancing customer engagement and dealership operations through personalized, multimodal experiences.
    • CareHub: BEN signed an agreement with CareHub to deploy GenAI Agents to assist nurse care managers with Remote Patient Monitoring to deliver improved patient outcomes specifically for Chronic Care Management.

    Conference Call and Webcast Information
    The Company will host a conference call and webcast today, Thursday, March 27, 2025, at 5:00 p.m. ET. CEO Paul Chang and CFO and COO Walid Khiari will lead the call and provide an overview of the company’s financial performance, key business highlights, and strategic outlook.

    Participants can register here to access the live webcast of the conference call. Those who prefer to join the call via phone can register using this link to receive a dial-in number and unique PIN.

    The webcast will be archived for one year following the conference call and can be accessed on BEN’s investor relations website at https://investors.beninc.ai/.

    About Brand Engagement Network (BEN)
    Brand Engagement Network Inc. (NASDAQ: BNAI) innovates in AI-powered customer engagement, delivering safe, intelligent, and scalable solutions. Its proprietary Engagement Language Model (ELM™) and Retrieval-Augmented Generation (RAG) architecture enable highly personalized interactions supported by customers’ curated data in closed-loop environments. BEN develops AI-driven engagement solutions for the life sciences, automotive, and retail industries, featuring AI-powered avatars for outbound campaigns, inbound customer service, and real-time recommendations. With a global AI research and development team, BEN provides secure cloud-based or on-premises deployments, granting complete control of the technology stack and ensuring compliance with GDPR, CCPA, HIPAA, and SOC 2 Type 1 standards. The company holds 21 patents, with 28 pending, demonstrating its commitment to advancing AI-driven consumer engagement. For more information, visit www.beninc.ai.

    Forward-Looking Statements
    This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are not historical facts, and involve risks and uncertainties that could cause actual results of BEN to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “anticipates,” “believes,” “continue,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” or “would,” or, in each case, their negative or other variations or comparable terminology.

    These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside BEN’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: uncertainties as to the timing of the acquisition with Cataneo Gmbh (the “Acquisition”); the risk that the Acquisition may not be completed on the anticipated terms in a timely manner or at all; (the failure to satisfy any of the conditions to the consummation of the Acquisition, including the ability to obtain financing to fund the Acquisition on terms that are acceptable or at all; the possibility that any or all of the various conditions to the consummation of the Acquisition may not be satisfied or waived; the occurrence of any event, change or other circumstance that could give rise to the termination of the purchase agreement; the effect of the announcement or pendency of the transactions contemplated by the purchase agreement on the Company’s ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, or its operating results and business generally; risks related to diverting management’s attention from the Company’s ongoing business operations; uncertainty as to the timing of completion of the Acquisition; risks that the benefits of the Acquisition are not realized when and as expected; risks relating to the uncertainty of the projected financial information with respect to BEN; uncertainty regarding and the failure to realize the anticipated benefits from future production-ready deployments; the attraction and retention of qualified directors, officers, employees and key personnel; our ability to grow our customer base; BEN’s history of operating losses; BEN’s need for additional capital to support its present business plan and anticipated growth; technological changes in BEN’s market; the value and enforceability of BEN’s intellectual property protections; BEN’s ability to protect its intellectual property; BEN’s material weaknesses in financial reporting; BEN’s ability to navigate complex regulatory requirements; the ability to maintain the listing of BEN’s securities on a national securities exchange; the ability to implement business plans, forecasts, and other expectations; the effects of competition on BEN’s business; and the risks of operating and effectively managing growth in evolving and uncertain macroeconomic conditions, such as high inflation and recessionary environments. The foregoing list of factors is not exhaustive.

    BEN cautions that the foregoing list of factors is not exclusive. BEN cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEN does not undertake nor does it accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, and it does not intend to do so unless required by applicable law. Further information about factors that could materially affect BEN, including its results of operations and financial condition, is set forth under “Risk Factors” in BEN’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q subsequently filed with the Securities and Exchange Commission.

    Media Contact 
    Amy Rouyer
    P: 503-367-7596
    E: amy@beninc.ai

    Investor Relations
    Susan Xu
    P: 778-323-0959
    E: sxu@allianceadvisors.com

    The MIL Network –

  • MIL-OSI: Golar LNG Limited – Announcement of filing of Form 20-F Annual Report

    Source: GlobeNewswire (MIL-OSI)

    Golar LNG Limited announces that it has filed its Form 20-F for the year ended December 31, 2024 with the Securities and Exchange Commission in the U.S.

    Form 20-F can be downloaded from the link below, is available on our website (www.golarlng.com) and shareholders may receive a hard copy free of charge upon request. 

    March 27, 2025
    The Board of Directors
    Hamilton, Bermuda
    Enquiries:
    Golar Management Limited: + 44 207 063 7900
    Stuart Buchanan

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network –

  • MIL-OSI: Open Lending to Announce Fourth Quarter and Full Year 2024 Results on March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, March 27, 2025 (GLOBE NEWSWIRE) — Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced that the Company plans to issue a press release containing results for the fourth quarter and full year 2024 after the market closes on Monday, March 31, 2025. The Company plans to host a conference call to discuss these results on Tuesday, April 1, 2025 at 8:00 AM ET.

    The conference call will be webcast live from the Company’s investor relations website at https://investors.openlending.com/ under the “Events” section. The conference call can also be accessed live over the phone by dialing (877) 407-4018, or for international callers (201) 689-8471. An archive of the webcast will be available at the same location on the website shortly after the call has concluded.

    About Open Lending

    Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 20 years, we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit www.openlending.com.

    Contact information:

    Investor Relations Inquiries:
    InvestorRelations@openlending.com

    Source: Open Lending Corporation

    The MIL Network –

  • MIL-OSI: Pieridae Proposes Name Change to Cavvy Energy

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR
    DISSEMINATION IN UNITED STATES

    New Brand Supports Strategy Pivot and Corporate Identity

    CALGARY, Alberta, March 27, 2025 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) is pleased to announce its intention to change its name to Cavvy Energy Ltd., and will seek shareholder approval for the change at its upcoming Annual and Special Meeting of Shareholders on May 8, 2025.
            
    “At the beginning of 2023 and with the support of our board of directors, our leadership team announced our intent to concentrate on our western Canadian upstream and midstream business, shifting away from east coast LNG,” said Darcy Reding, President and CEO. “In the third quarter of 2024, we successfully achieved the last significant milestone of this pivot with the sale of our legacy Goldboro Nova Scotia assets. We have now come to a significant inflection point in the Company’s strategy and believe it is appropriate to adopt a new brand to support our corporate identity and the values of the organization.

    The word Cavvy draws its inspiration from the western ranching tradition, referring to a carefully selected group of working horses chosen for their strength, reliability, and specific capabilities. The name evokes an identity synonymous with our corporate values and mission, and one that is proudly connected to our western Canadian corporate roots.”

    We are also pleased to share our new logo, which we intend to adopt after the name change is made effective.

    Subject to shareholder and regulatory approval, the name change will be effective following the Annual and Special Meeting of Shareholders. The Company intends to begin trading its common shares under the stock symbol “CVVY” on the Toronto Stock Exchange within two to three business days after the effective date of the name change, subject to receipt of the requisite regulatory approvals.

    ABOUT PIERIDAE

    Pieridae is a Canadian energy company headquartered in Calgary, Alberta. The Company is a significant upstream producer and midstream custom processor of natural gas, NGLs, condensate, and sulphur from western Canada. Pieridae’s vision is to provide responsible, affordable natural gas and derived products to meet society’s energy security needs. Pieridae’s common shares currently trade on the TSX under the symbol “PEA”.

    For further information, visit www.pieridaeenergy.com, or please contact:

    Darcy Reding, President & Chief Executive Officer    Adam Gray, Chief Financial Officer
    Telephone: (403) 261-5900     Telephone: (403) 261-5900
         
    Investor Relations    
    investors@pieridaeenergy.com     

    Forward-Looking Statements
    Certain of the statements contained herein may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws (collectively “forward-looking statements”), including, without limitation: the Company’s intention to change its name from “Pieridae Energy Limited” to “Cavvy Energy Ltd.”, including the anticipated timing thereof and the Company’s beliefs with respect to the expected benefits therefrom; the Company’s intention to adopt a new logo, including the design, colours and anticipated timing thereof; the Company’s intention to begin trading its common shares under the stock symbol “CVVY” on the Toronto Stock Exchange and the anticipated timing thereof; the receipt of the required shareholder and regulatory approval in respect of the name change and the new stock symbol; and the Company’s strategy and vision. Words such as “will”, “believe”, “intend”, “propose”, “vision”, “strategy”, “intention” and similar expressions may be used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management.

    Forward-looking statements are based on a number of factors and assumptions which have been used to develop such forward-looking statements, but which may prove to be incorrect. Although Pieridae believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because Pieridae can give no assurance that such expectations will prove to be correct. A number of risk factors could cause actual results to differ materially from those anticipated, expressed or implied by the forward-looking statements contained herein. For more information about the assumptions and risks associated with the forward-looking statements contained herein, see “Forward Looking Information” and “Risk Factors” in the Corporation’s Annual Information Form for the year ended December 31, 2024 and “Cautionary Note Regarding Forward-Looking Information” in the Corporation’s MD&A for the year ended December 31, 2024, each of which may be accessed through the Corporation’s SEDAR+ profile at www.sedarplus.ca.

    Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, management cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and Pieridae assumes no obligation to update or review them to reflect new events or circumstances except as required by applicable securities laws.

    Neither TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f1cdaddc-9a86-4e5e-ac95-28a2f67c1ac9

    The MIL Network –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 27.03.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    27 March 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 27.03.2025

    Espoo, Finland – On 27 March 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:                

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 2,797,174 4.87
    CEUX 1,500,000 4.88
    BATE – –
    AQEU 179,256 4.87
    TQEX 195,996 4.87
    Total 4,672,426 4.88

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 27 March 2025 was EUR 22,782,749. After the disclosed transactions, Nokia Corporation holds 204,719,506 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI: Stifel Reports February 2025 Operating Data

    Source: GlobeNewswire (MIL-OSI)

    ST. LOUIS, March 27, 2025 (GLOBE NEWSWIRE) — Stifel Financial Corp. (NYSE: SF) today reported selected operating results for February 28, 2025 in an effort to provide timely information to investors on certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

    Ronald J. Kruszewski, Chairman and Chief Executive Officer, said, “Total client assets under management increased 11% in February to $506 billion and fee-based client assets rose 14% to $196 billion from the same period a year ago. Our growth continues to be driven by stronger equity markets and the addition of highly productive financial advisors. Client money market and insured products declined less than 1% from January, as modest increases in Sweep deposits were more than offset by lower Smart Rate balances. Despite our strong investment banking pipelines, market uncertainty and volatility in the quarter have negatively impacted activity levels. As such, we anticipate that our first quarter 2025 investment banking revenue will be similar to our first quarter 2024 results.”

    Selected Operating Data (Unaudited)
      As of   % Change
    (millions) 2/28/2025 2/29/2024 1/31/2025   2/29/2024   1/31/2025  
    Total client assets $ 506,475 $ 457,925 $ 509,671   11 % (1 )%
    Fee-based client assets $ 196,380 $ 172,086 $ 197,298   14 % (0 )%
    Private Client Group fee-based client assets $ 171,760 $ 151,345 $ 172,468   14 % (0 )%
    Bank loans, net (includes loans held for sale) $ 21,201 $ 19,594 $ 21,118   8 % 0 %
    Client money market and insured product (1) $ 27,737 $ 26,299 $ 27,936   6 % (1 )%

    (1) Includes Smart Rate deposits, Sweep deposits, Third-party Bank Sweep Program, and Other Sweep cash.

    Company Information

    Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit www.stifel.com/investor-relations/press-releases.

    Media Contact: Neil Shapiro (212) 271-3447 | Investor Contact: Joel Jeffrey (212) 271- 3610 | www.stifel.com/investor-relations

    The MIL Network –

  • MIL-OSI: Global-e Announces Filing of Form 20-F for the Fiscal Year Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    PETAH-TIKVA, Israel, March 27, 2025 (GLOBE NEWSWIRE) — Global-e Online Ltd. (Nasdaq: GLBE), the platform powering global direct-to-consumer e-commerce, filed today its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission. The annual report on Form 20-F can be accessed on the Company’s investors relations website at https://investors.global-e.com or on the SEC’s website at www.sec.gov.

    Global-e will provide a hard copy of the annual report containing its audited financial statements, free of charge, to its shareholders upon request. Requests should be directed in writing by email to ir@global-e.com.

    About Global-e
    Global-e (Nasdaq: GLBE) is the world’s leading platform enabling and accelerating global, Direct-To-Consumer e-commerce. The chosen partner of over 1,400 brands and retailers across the United States, EMEA and APAC, Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e’s end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast global e-commerce experience, enabling international shoppers to buy seamlessly online and retailers to sell to, and from, anywhere in the world. For more information, please visit: www.global-e.com.

    Investor Contact:
    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    IR@global-e.com 
    +1 617-542-6180

    Press Contact:
    Sarah Schloss
    Headline Media
    sarah.schloss@headline.media
    +1 914-506-5104

    The MIL Network –

  • MIL-OSI: Intermap Announces 2024 Results and 2025 Guidance

    Source: GlobeNewswire (MIL-OSI)

    Company reports 2024 revenue of $17.6 million, net income of $2.5 million

    Company projects 2025 revenue of $30 – 35 million and an adjusted EBITDA margin of ~28%

    Conference call today at 5:00 pm ET to discuss results and guidance

    DENVER, March 27, 2025 (GLOBE NEWSWIRE) — Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today announced 2024 results and 2025 guidance.

    For the full year ending December 31, 2024 (unaudited)

    • Revenue of $17.6 million, compared with $6.2 million in 2023
    • Acquisition Services revenue of $10.5 million versus nil in 2023
    • Value-added Data revenue of $3.1 million, compared with $1.9 million in 2023
    • Software and Solutions revenue of $4.0 million, compared with $4.3 million in 2023
    • 23% adjusted EBITDA margin
    • Net income of $2.5 million, compared with net loss of $3.7 million in 2023

    For the fourth quarter ending December 31, 2024 (unaudited)

    • Revenue of $7.4 million, compared with $1.2 million in the fourth quarter of 2023
    • Acquisition Services revenue of $5.5 million versus nil in the fourth quarter of 2023
    • Value-added Data revenue of $1.0 million versus $0.3 million in the fourth quarter of 2023
    • Software and Solutions revenue of $1.0 million, compared with $.9 million in the fourth quarter of 2023
    • 27% adjusted EBITDA margin
    • Net income of $1.5 million, compared with a net loss of $1.0 million in the fourth quarter of 2023

    “2024 reflects a significant inflection point for Intermap. We secured major contract wins and reported revenue and EBITDA at the high end of our guidance,” said Patrick A. Blott, Intermap Chairman and CEO. “Our 2025 guidance reinforces our commitment to sustainable growth and market leadership, and the C$12 million equity financing that we closed in February gives us the balance sheet to execute on our existing government contracts and advance new opportunities in our pipeline.”

    2024 government wins

    2024 commercial achievements

    Subsequent to December 31, 2024

    2025 Guidance

    • Revenue of $30 – 35 million
    • Adjusted EBITDA margin of ~28%

    Intermap experienced significant growth in 2024, including increasing its total assets by 2.6x to $12.0 million and expanding its shareholder base in Canada, the United States and internationally through the completion of various private placements and its Listed Issuer Financing offerings. The Company now has more than 2,000 shareholders and a market capitalization greater than U.S. $75 million. Due to this significant increase in assets and its number of shareholders, Intermap will register under and become subject to the reporting requirements of the U.S. Securities Exchange Act of 1934 (as amended, the Exchange Act). Because Intermap qualifies as a foreign private issuer under the Exchange Act, the Company will be subject to a lesser disclosure regime than domestic U.S. companies and will be filing its registration statement on Form 40-F. In the future, investors will be able to access Intermap’s securities filings on both EDGAR and SEDAR+.

    Intermap’s audited annual financial statements for the year ended December 31, 2024, the annual management discussion and analysis for the corresponding period, related management certifications of annual filings and its annual information form will be filed and available on SEDAR+ www.sedarplus.ca on March 31, 2025.

    Learn more about Intermap at intermap.com/investors.

    Conference Call Details
    Intermap’s CEO Patrick A. Blott, CFO Jennifer Bakken and COO Jack Schneider will host a live webinar today, at 5:00 pm ET to review the results, provide Company updates and answer investor questions following the presentation.

    Intermap invites shareholders, analysts, investors, media representatives and other stakeholders to attend the earnings webinar to discuss the fourth quarter and full year of 2024 results.

    DATE: Thursday, March 27, 2025
    TIME: 5:00 pm ET
    WEBCAST: Register

    Intermap Reader Advisory 
    Certain information provided in this news release, including reference to revenue growth, 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 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 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

    The MIL Network –