Archive for May, 2021
Nextech AR Solutions (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29), a diversified leading provider of augmented reality (“AR”) and its Virtual Experience Platform (“VXP”) will be hosting this year’s Canadian Higher Education Information Technology Conference (“CANHEIT”). CANHEIT is the national conference for IT professionals in higher education. Nextech offers virtual event, live-streaming experiences plus services for 3D ads, ecommerce and education. This year’s conference, which will be online only, is scheduled for May 31 through June 4, 2021. A premier gathering, CANHEIT provides an ideal opportunity for staff, managers and senior administrators responsible for the management and evolution of their campus information and learning systems and digital infrastructure to gather together, network, learn and showcase best practices. Nextech’s VXP will create an immersive, memorable experience where conference participants will be able to enjoy the conference location, Concordia University’s Montreal campus, as they enjoy a virtual exhibitor hall with 30 to 40 chat-enabled exhibitor booths, attend breakout classes and interact in virtual networking spaces. VXP will give attendees access to AR portals showcasing different elements of the campus, allowing them a realistic glimpse of what it’s like to attend the university. “We’re beyond excited to host CANHEIT’s 2021 virtual conference on our VXP and couldn’t be more thrilled to transform their previous in-person conference into a truly immersive virtual experience,” said Nextech CEO Evan Gappelberg in the press release. “Our platform’s stand out AR/VR capabilities coupled with our company’s overarching goal of creating new and exciting ways of bringing global communities together, has allowed us to successfully support dozens of major conferences and events that have made the switch to virtual. We look forward to continuing to bridge the gap between the physical and digital world to encompass the “get out of your seats” experience for attendees.”
To view the full press release, visit https://ibn.fm/GXAxe
About Nextech AR Solutions Corp.
Nextech develops and operates augmented reality (“AR”) platforms that transports three-dimensional (“3D”) product visualizations, human holograms and 360° portals to its audiences altering e-commerce, digital advertising, hybrid virtual events (events held in a digital format blended with in-person attendance) and learning and training experiences. Nextech focuses on developing AR solutions however most of the Company’s revenues are derived from three e-Commerce platforms: vacuumcleanermarket.com (“VCM”), infinitepetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon.
For more information about the company, please visit www.NextechAR.com.
NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at http://ibn.fm/NEXCF
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Quarterly Net Revenue Grew 88 % Ye ar-Over-Year to $48.1 Million
Announces Acquisition of Squatty Potty, a Leading Health & Wellness Brand
Announces Closing of Previously Disclosed Photo Paper Direct Acquisition
Company Raises 2021 Net Revenue Outlook Range to $360 Million – $390 Million
NEW YORK, May 06, 2021 (GLOBE NEWSWIRE) — Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”) today announced results for the first quarter ended March 31, 2021. Aterian was formerly named Mohawk Group Holdings, Inc. and was renamed Aterian, Inc. on April 30, 2021.
First Quarter 2021 Highlights
- Net revenue grew 88% year over year to $48.1 million, compared to $25.6 million in the first quarter of 2020.
- Gross margin improved to 54.1% compared to 40.2% in the first quarter of 2020.
- Operating loss increased to $(27.8) million, which includes $15.6 million of charges from the change in fair-value of earn out liabilities, compared to an operating loss of $(13.9) million in the first quarter of 2020.
- Contribution margin improved to 12.7% from negative (2.9)% in the first quarter of 2020.
- Operating expenses for the first quarter of 2021 were $53.8 million an increase from $24.2 million in the first quarter of 2020.
- Excluding non-cash stock-based compensation and amortization of intangibles of $8.0 million in the first quarter of 2021 and $7.4 million in the first quarter of 2020 and $15.6 million from the change in fair-value of potential future performance based earnouts from acquisitions in 2021, fixed operating expenses for the first quarter decreased as a percentage of net revenue to 17.5% compared to 22.3% in the first quarter of 2020.
- Net loss of $(82.6) million, which includes $50.3 million of net charges from the changes in fair-value of and cancellation of warrants and includes $15.6 million of charges from the change in fair-value of earn out liabilities, increased from a net loss of $(15.0) million in the first quarter of 2020.
- Adjusted EBITDA loss improved to $(1.3) million compared to $(6.4) million in the first quarter of 2020.
- 21 new products launched in the first quarter compared to 16 in the first quarter of 2020.
- Total cash balance at March 31, 2021 increased by $8.3 million from December 31, 2020 to $35.0 million.
M&A Update
- Announces acquisition of Squatty Potty, LLC (“Squatty Potty”), a leading online seller of health and wellness products in an asset purchase transaction.
- Closes previously announced acquisition of Photo Paper Direct Ltd., (“Photo Paper Direct”), a leading online seller of printing supplies.
- The historical audit of the 9830 Macarthur LLC acquisition (“Smash”) has been completed and we now expect to file our delayed Form 8K/A no later than May 14, 2021.
- Currently evaluating a pipeline of potential M&A targets that in total have trailing twelve month’s net revenue of $613 million and trailing twelve month’s EBITDA of $91 million.
- We are currently in discussions with various top tier investment banks to evaluate financing structures in an effort to capitalize our accelerated M&A strategy and to improve our cost of capital.
Yaniv Sarig, Co-Founder and Chief Executive Officer, commented, “Despite the challenges e-commerce faced with strains on the global supply chain throughout the first quarter, Aterian remains well-positioned to capitalize on the continued global acceleration of e-commerce adoption and expanding market opportunities in the long-term. Due to extreme shortages of containers and backlogs of ships at the Long Beach Port, we suffered from stockouts on some of our top SKUs aggregating to an estimate of approximately $6 million of missed revenue. However, our sourcing, supply chain and operations team continues to work diligently to resolve these issues and we are continuing to monitor this global crisis closely.”
“As a market leading technology-enabled consumer products platform that builds, acquires and partners with best-in-class e-commerce brands, we are happy to announce today that we have closed our previously announced acquisition of Photo Paper Direct. We are excited to formally welcome our first European-based brand to Aterian’s portfolio and pleased about our entrance in the printing supplies category.” Sarig continued, “I am also thrilled to announce the acquisition of Squatty Potty, a category creator with a strong brand and broad customer base. We believe that the business’s significant online presence and brand equity can be further enhanced through investments in international expansion and the launch of additional products. As we bring this brand into the Aterian family, we continue to demonstrate our ability to operate across diverse product categories through leveraging our proprietary technology and agile supply chain. We look forward to building on the strength of this brand.”
Acquisition of Squatty Potty Assets
Aterian has acquired the business of e-commerce and retail company Squatty Potty, LLC (“Squatty Potty”), a leading online seller of health and wellness products in an asset purchase transaction. Founded in 2011, Squatty Potty is a consumer products company whose product lines consist of toilet stools, sprays and other bathroom accessories. Its flagship product, the Squatty Potty stool, is designed to help users assume the squatting position while using the bathroom, delivering fast, complete elimination with comfort and ease. Over the past year, Squatty Potty has diversified and scaled its product offerings while broadening its reach globally. Currently, Squatty Potty products are sold in thousands of retail locations including Bed, Bath & Beyond, Walmart and Target.
Squatty Potty’s unaudited trailing twelve month revenue and operating income, as of March 31, 2021, were approximately $16.8 million and $4.7 million, respectively. As consideration for Squatty Potty’s assets, Aterian paid approximately $19.0 million in cash. The cash payment reflects an approximate 4.0x multiple on the trailing twelve month operating income of Squatty Potty as of March 31, 2021. Aterian also paid approximately $1.1 million as consideration related to acquired inventory. In addition, and subject to the achievement of contribution margin metrics for the year ended December 31, 2021, Aterian agreed to pay Squatty Potty a maximum earnout of approximately $4.0 million, payable in stock or cash at the seller’s discretion. Aterian also agreed to pay Squatty Potty $8.0 million for transition services, payable in stock or cash at the seller’s discretion.
Closing of Photo Paper Direct Acquisition
Aterian today announced it has closed the acquisition of all outstanding stock of e-commerce company Photo Paper Direct Ltd. (“Photo Paper Direct”), a leading online seller of printing supplies. Photo Paper Direct’s unaudited trailing twelve month revenue and operating income, as of December 31, 2020, were approximately $14.6 million and $3.9 million, respectively. As consideration for Photo Paper Direct’s stock, Aterian paid approximately $8.28 million in cash and issued approximately 704,500 shares of Aterian’s common stock. The cash and common stock payments reflect an approximate 4.7x multiple on the trailing twelve month operating income of Photo Paper Direct as of December 31, 2020. Aterian also agreed to pay approximately $5.4 million in cash as consideration related to Photo Paper Direct’s inventory and other working capital assets, including cash on hand of approximately $3.0 million. In addition, and subject to the achievement of certain Adjusted EBITDA metrics by December 31, 2021, Aterian agreed to issue to Photo Paper Direct a maximum earnout of $6.0 million in cash and $2.0 million in Aterian common stock. In connection with the transaction, the former shareholders of Photo Paper Direct signed a five year voting and standstill agreement. This is Aterian’s first European acquisition.
2021 Outlook
As a result of the Squatty Potty acquisition, the Company expects net revenue for full year 2021 to be in the range of $360 million to $390 million up from $350 million to $380 million. For full year 2021, the Company expects Adjusted EBITDA to remain in the range of $30.0 million to $34.0 million.
The most directly comparable GAAP financial measure for Adjusted EBITDA is net loss and we expect to report a net loss for the twelve months ending December 31, 2021, due primarily to quarterly interest expense, net, fair value changes on contingent earnout liabilities from our acquisitions, fair value changes from warrant liabilities from our financings and stock-based compensation expense.
Non-GAAP Financial Measures
For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the “Non-GAAP Financial Measures and Reconciliations” section below.
Net income is the most directly comparable GAAP financial measure for Adjusted EBITDA. The Company has not reconciled its expectations as to forward-looking Adjusted EBITDA to net income, the most directly comparable GAAP financial measure, because certain items are out of the Company’s control or cannot be reasonably predicted, including that the historical revenue and operating income of Photo Paper Direct and Squatty Potty may not be representative of future revenue and operating income, fair value changes on contingent earnout liabilities from our acquisitions, fair value changes from warrant liabilities from our financings and any other potential acquisitions to be completed that are subject to the completion of the Company’s standard procedures for the preparation and completion of its financial statements and completion of an audit by the Company’s independent registered public accounting firm. Accordingly, a reconciliation of forward-looking Adjusted EBITDA to net income is not available without unreasonable effort.
Webcast and Conference Call Information
Aterian will host a live conference call to discuss financial results today, May 6, 2021, at 5:00 p.m. Eastern Time. To access the call, participants from within the U.S. should dial (888) 895-5479 and participants from outside the U.S. should dial (847) 619-6250 and provide the conference ID: 50154244. Participants may also access the call through a live webcast at https://ir.aterian.io/investor-relations . Please visit the website at least 15 minutes prior to the start of the call to register and download any necessary software. The archived online replay will be available for a limited time after the call in the Investor Relations section of the Aterian website.
About Aterian , Inc.
Aterian, Inc. (Nasdaq: ATER), is a leading technology-enabled consumer products platform that builds, acquires, and partners with best-in-class e-commerce brands by harnessing proprietary software and an agile supply chain to create top selling consumer products. The Company’s cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (AIMEE™), leverages machine learning, natural language processing and data analytics to streamline the management of products at scale across the world’s largest online marketplaces, including Amazon, Shopify and Walmart. Aterian has thousands of SKUs across 14 owned and operated brands and sells products in multiple categories, including home and kitchen appliances, health and wellness, beauty and consumer electronics.
Forward Looking Statements
All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements regarding our M&A strategy including our effort to capitalize our accelerated M&A strategy and to improve our cost of capital, our goal of creating a supply chain and technology platform designed to operate e-commerce brands across a wide spectrum of categories, any potential acquisition of additional businesses in the future, our ability to create significant operating leverage and efficiency when integrating companies that we acquire, including through the use of our team’s expertise, the economies of scale of our supply chain and automation driven by our platform, our ability to operate across diverse product categories though leveraging our proprietary technology and supply chain, our expectations regarding future growth internationally and through the development and launch of products under our brands and the acquisition of additional brands, our expectations regarding the continued global acceleration of e-commerce adoption in the long-term and our ability to capitalize on such e-commerce adoption, our expectations regarding global supply chain issues, the estimated amount of missed revenue due to stockouts and our supply chain team’s ability to resolve issues related to container shortages, backlogs of ships and stockouts, our 2021 net revenue outlook, including any expected impact that the acquisitions of Photo Paper Direct and Squatty Potty may have thereon, our expectations regarding our ability to enhance Squatty Potty’s online presence and brand equity through investments in international expansion and the launch of additional Squatty Potty products, and the statements about our expected net income and Adjusted EBITDA for the full year 2021. These forward-looking statements are based on management’s current expectations and beliefs and are subject to uncertainties and factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to the acquisitions of Photo Paper Direct and Squatty Potty; those related to our ability to create operating leverage and efficiency when integrating companies that we acquire, including through the use of our team’s expertise, the economies of scale of our supply chain and automation driven by our platform; those related to our ability to grow internationally and through the launch of products under our brands and the acquisition of additional brands; those related to the impact of COVID-19, including its impact on consumer demand, our cash flows, financial condition and revenue growth rate; the completion of our customary audit procedures and the audit of any acquired business; our supply chain including sourcing, manufacturing, warehousing and fulfillment; our ability to manage expenses, working capital (including for PPE products) and capital expenditures efficiently; our business model and our technology platform; our ability to disrupt the consumer products industry; our ability to grow market share in existing and new product categories, including PPE; our ability to generate profitability and stockholder value; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety and regulatory concerns; reliance on third party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies, our ability to continue to access debt and equity capital (including on terms advantageous to the Company) and the extent of our leverage and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), all of which you may obtain for free on the SEC’s website at www.sec.gov.
Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Investor Contact:
Ilya Grozovsky
Director of Investor Relations & Corp. Development
Aterian, Inc.
ilya@aterian.io
917-905-1699
Media Contact:
Andrew Blecher
Communications
andrew@aterian.io
ATERIAN, INC.
Condensed Consolida ted Balance Sheets
(Unaudited)
(in thousands, except share and per share data)
|
|
December 31, 2020 |
|
|
March 31, 2021 |
|
| ASSETS |
|
|
|
|
|
|
|
|
| CURRENT ASSETS: |
|
|
|
|
|
|
|
|
| Cash |
|
$ |
26,718 |
|
|
$ |
34,995 |
|
| Accounts receivable—net |
|
|
5,747 |
|
|
|
7,192 |
|
| Inventory |
|
|
31,582 |
|
|
|
55,026 |
|
| Prepaid and other current assets |
|
|
11,111 |
|
|
|
24,577 |
|
| Total current assets |
|
|
75,158 |
|
|
|
121,790 |
|
| PROPERTY AND EQUIPMENT—net |
|
|
169 |
|
|
|
166 |
|
| GOODWILL AND OTHER INTANGIBLES—net |
|
|
78,778 |
|
|
|
140,473 |
|
| OTHER NON-CURRENT ASSETS |
|
|
3,349 |
|
|
|
3,552 |
|
| TOTAL ASSETS |
|
$ |
157,454 |
|
|
$ |
265,981 |
|
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
| CURRENT LIABILITIES: |
|
|
|
|
|
|
|
|
| Credit facility |
|
$ |
12,190 |
|
|
$ |
14,319 |
|
| Accounts payable |
|
|
14,856 |
|
|
|
26,475 |
|
| Term loan |
|
|
21,600 |
|
|
|
21,600 |
|
| Seller notes |
|
|
16,231 |
|
|
|
10,677 |
|
| Contingent earn-out liability |
|
|
1,515 |
|
|
|
18,783 |
|
| Accrued and other current liabilities |
|
|
8,340 |
|
|
|
14,181 |
|
| Total current liabilities |
|
|
74,732 |
|
|
|
106,035 |
|
| OTHER LIABILITIES |
|
|
1,841 |
|
|
|
1,841 |
|
| CONTINGENT EARN-OUT LIABILITY |
|
|
21,016 |
|
|
|
35,951 |
|
| TERM LOANS |
|
|
36,483 |
|
|
|
83,689 |
|
| Total liabilities |
|
|
134,072 |
|
|
|
227,516 |
|
| COMMITMENTS AND CONTINGENCIES (Note 9) |
|
|
|
|
|
|
|
|
| STOCKHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
Common stock, par value $0.0001 per share—500,000,000 shares authorized and
27,074,791 shares outstanding at December 31, 2020; 500,000,000 shares
authorized and 30,590,796 shares outstanding at March 31, 2021 |
|
|
3 |
|
|
|
3 |
|
| Additional paid-in capital |
|
|
216,305 |
|
|
|
313,911 |
|
| Accumulated deficit |
|
|
(192,935 |
) |
|
|
(275,488 |
) |
| Accumulated other comprehensive income |
|
|
9 |
|
|
|
39 |
|
| Total stockholders’ equity |
|
|
23,382 |
|
|
|
38,465 |
|
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
$ |
157,454 |
|
|
$ |
265,981 |
|
ATERIAN, INC.
Condensed Consolidated S tatements of Operations
(Unaudited)
(in thousands, except share and per share data)
|
|
Three Months Ended March 31, |
|
|
|
2020 |
|
|
2021 |
|
| NET REVENUE |
|
$ |
25,628 |
|
|
$ |
48,136 |
|
| COST OF GOODS SOLD |
|
|
15,330 |
|
|
|
22,073 |
|
| GROSS PROFIT |
|
|
10,298 |
|
|
|
26,063 |
|
| OPERATING EXPENSES: |
|
|
|
|
|
|
|
|
| Sales and distribution |
|
|
13,910 |
|
|
|
25,069 |
|
| Research and development |
|
|
2,281 |
|
|
|
2,124 |
|
| General and administrative |
|
|
8,003 |
|
|
|
10,976 |
|
| Change in fair value of contingent earn-out liabilities |
|
|
— |
|
|
|
15,645 |
|
| TOTAL OPERATING EXPENSES: |
|
|
24,194 |
|
|
|
53,814 |
|
| OPERATING LOSS |
|
|
(13,896 |
) |
|
|
(27,751 |
) |
| INTEREST EXPENSE—net |
|
|
1,109 |
|
|
|
4,420 |
|
| CHANGE IN FAIR VALUE OF WARRANT LIABILITY |
|
|
— |
|
|
|
30,202 |
|
| LOSS ON INITIAL ISSUANCE OF WARRANT |
|
|
— |
|
|
|
20,147 |
|
| OTHER EXPENSE |
|
|
25 |
|
|
|
33 |
|
| LOSS BEFORE INCOME TAXES |
|
|
(15,030 |
) |
|
|
(82,553 |
) |
| PROVISION FOR INCOME TAXES |
|
|
— |
|
|
|
— |
|
| NET LOSS |
|
$ |
(15,030 |
) |
|
$ |
(82,553 |
) |
| Net loss per share, basic and diluted |
|
$ |
(0.99 |
) |
|
$ |
(3.15 |
) |
| Weighted-average number of shares outstanding, basic and diluted |
|
|
15,193,647 |
|
|
|
26,225,383 |
|
ATERIAN, INC.
Condensed Consolidated St atements of Cash Flows
(Unaudited)
(in thousands)
|
|
Three Months Ended March 31, |
|
|
|
2020 |
|
|
2021 |
|
| OPERATING ACTIVITIES: |
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(15,030 |
) |
|
$ |
(82,553 |
) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
41 |
|
|
|
1,204 |
|
| Provision for sales returns |
|
|
84 |
|
|
|
(100 |
) |
| Amortization of deferred financing costs and debt discounts |
|
|
304 |
|
|
|
3,963 |
|
| Stock-based compensation |
|
|
7,439 |
|
|
|
6,899 |
|
| Loss from increase of contingent liabilities fair value |
|
|
— |
|
|
|
15,645 |
|
| Loss in connection with warrant fair value |
|
|
— |
|
|
|
30,202 |
|
| Loss on initial issuance of warrant |
|
|
— |
|
|
|
20,147 |
|
| Other |
|
|
33 |
|
|
|
— |
|
| Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
| Accounts receivable |
|
|
(3,140 |
) |
|
|
(1,445 |
) |
| Inventory |
|
|
(8,044 |
) |
|
|
(15,355 |
) |
| Prepaid and other current assets |
|
|
540 |
|
|
|
(4,675 |
) |
| Accounts payable, accrued and other liabilities |
|
|
682 |
|
|
|
17,573 |
|
| Cash used in operating activities |
|
|
(17,091 |
) |
|
|
(8,495 |
) |
| INVESTING ACTIVITIES: |
|
|
|
|
|
|
|
|
| Purchase of fixed assets |
|
|
(18 |
) |
|
|
(20 |
) |
| Repayments on note payable to Smash |
|
|
— |
|
|
|
(4,737 |
) |
| Purchase of Healing Solutions assets |
|
|
— |
|
|
|
(15,280 |
) |
| Cash used in investing activities |
|
|
(18 |
) |
|
|
(20,037 |
) |
| FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
| Proceeds from warrant exercise |
|
|
— |
|
|
|
8,939 |
|
| Proceeds from cancellation of warrant |
|
|
— |
|
|
|
16,957 |
|
| Proceeds from exercise of stock options |
|
|
(112 |
) |
|
|
8,749 |
|
| Proceeds from initial public offering, net of issuance costs |
|
|
17,435 |
|
|
|
— |
|
| Repayments from Mid Cap credit facility |
|
|
(15,414 |
) |
|
|
— |
|
| Borrowings from Mid Cap credit facility |
|
|
— |
|
|
|
14,531 |
|
| Repayments from Mid Cap credit facility |
|
|
— |
|
|
|
(12,325 |
) |
| Deferred financing costs from Mid Cap credit facility |
|
|
— |
|
|
|
(151 |
) |
| Repayments for High Trail term loan |
|
|
— |
|
|
|
(5,400 |
) |
| Borrowings from High Trail term loan note 2 |
|
|
— |
|
|
|
14,025 |
|
| Debt issuance costs from High Trails Term Loan |
|
|
— |
|
|
|
(1,136 |
) |
| Deferred offering costs |
|
|
(139 |
) |
|
|
— |
|
| Insurance obligation payments |
|
|
(965 |
) |
|
|
(951 |
) |
| Capital lease obligation payments |
|
|
(2 |
) |
|
|
— |
|
| Cash provided by financing activities |
|
|
803 |
|
|
|
43,238 |
|
| EFFECT OF EXCHANGE RATE ON CASH |
|
|
3 |
|
|
|
(99 |
) |
| NET CHANGE IN CASH AND RESTRICTED CASH FOR PERIOD |
|
|
(16,303 |
) |
|
|
14,607 |
|
| CASH AND RESTRICTED CASH AT BEGINNING OF PERIOD |
|
|
30,789 |
|
|
|
30,097 |
|
| CASH AND RESTRICTED CASH AT END OF PERIOD |
|
$ |
14,486 |
|
|
$ |
44,704 |
|
| RECONCILIATION OF CASH AND RESTRICTED CASH |
|
|
|
|
|
|
|
|
| CASH |
|
$ |
14,050 |
|
|
$ |
34,995 |
|
| RESTRICTED CASH—Prepaid and other assets |
|
|
307 |
|
|
|
9,580 |
|
| RESTRICTED CASH—Other non-current assets |
|
|
129 |
|
|
|
129 |
|
| TOTAL CASH AND RESTRICTED CASH |
|
$ |
14,486 |
|
|
$ |
44,704 |
|
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |
|
|
|
|
|
|
|
|
| Cash paid for interest |
|
$ |
759 |
|
|
$ |
252 |
|
| Non-cash consideration paid to contractors |
|
$ |
— |
|
|
$ |
3,427 |
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
| Debt issuance costs not paid |
|
$ |
— |
|
|
$ |
246 |
|
| Original issue discount |
|
$ |
— |
|
|
$ |
2,475 |
|
| Fair value of contingent consideration liability |
|
$ |
— |
|
|
$ |
11,272 |
|
| Discount of debt relating to warrants issuance |
|
$ |
— |
|
|
$ |
7,740 |
|
| Issuance of common stock in connection with acquisition |
|
$ |
— |
|
|
$ |
39,454 |
|
| Common stock issued for warrants |
|
$ |
— |
|
|
$ |
1,125 |
|
Non-GAAP Financial Measures and Reconciliations
In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release and accompanying tables include certain non-GAAP financial measures. The non-GAAP financial measures contained herein are a supplement to the corresponding financial measures prepared in accordance with U.S. GAAP. The non-GAAP financial measures presented exclude the items described below. Management believes that adjustments for these items assist investors in making comparisons of period-to-period operating results. Furthermore, management also believes that these items are not indicative of the Company’s on-going core operating performance. These non-GAAP financial measures have certain limitations in that they do not reflect all of the costs associated with the operations of the Company’s business as determined in accordance with GAAP.
Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures presented by the Company may be different from the non-GAAP financial measures used by other companies.
The Company has presented the following non-GAAP measures to assist investors in understanding the Company’s core net operating results on an on-going basis: (i) Contribution margin; (ii) Contribution margin as a percentage of net revenue; (iii) Adjusted EBITDA; and (iv) Adjusted EBITDA as a percentage of net revenue. These non-GAAP financial measures may also assist investors in making comparisons of the Company’s core operating results with those of other companies.
As used herein, Contribution margin represents operating loss plus general and administrative expenses, research and development expenses and fixed sales and distribution expenses including stock-based compensation expense. As used herein, Contribution margin as a percentage of net revenue represents Contribution margin divided by net revenue. As used herein, EBITDA represents net loss plus depreciation and amortization, interest expense, net and income tax expense. As used herein, Adjusted EBITDA represents EBITDA plus stock-based compensation expense and other expense, net. As used herein, Adjusted EBITDA as a percentage of net revenue represents Adjusted EBITDA divided by net revenue. Contribution margin, EBITDA and Adjusted EBITDA do not represent and should not be considered as alternatives to loss from operations or net loss, as determined under GAAP.
We present Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue because we believe each of these measures provides an additional metric to evaluate our operations and, when considered with both our GAAP results and the reconciliation to net loss, provides useful supplemental information for investors. We use Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue, together with financial measures prepared in accordance with GAAP, such as sales and gross margins, to assess our historical and prospective operating performance, to provide meaningful comparisons of operating performance across periods, to enhance our understanding of our operating performance and to compare our performance to that of our peers and competitors.
We believe EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue are useful to investors in assessing the operating performance of our business without the effect of non-cash items, while Contribution margin and Contribution margin as a percentage of net revenue are useful to investors in assessing the operating performance of our products as they represent our operating results without the effects of fixed costs and non-cash items. Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue, should not be considered in isolation or as alternatives to net loss, loss from operations or any other measure of financial performance calculated and prescribed in accordance with GAAP. Neither EBITDA, Adjusted EBITDA nor Adjusted EBITDA as a percentage of net revenue should be considered a measure of discretionary cash available to us to invest in the growth of our business. Our Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue may not be comparable to similar titled measures in other organizations because other organizations may not calculate Contribution margin, EBITDA, Adjusted EBITDA or Adjusted EBITDA as a percentage of net revenue in the same manner as we do. Our presentation of Contribution margin and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by the expenses that are excluded from such terms or by unusual or non-recurring items.
We recognize that EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue, have limitations as analytical financial measures. For example, neither EBITDA nor Adjusted EBITDA reflects:
- our capital expenditures or future requirements for capital expenditures or mergers and acquisitions;
- the interest expense or the cash requirements necessary to service interest expense or principal payments, associated with indebtedness;
- depreciation and amortization, which are non-cash charges, although the assets being depreciated and amortized will likely have to be replaced in the future, or any cash requirements for the replacement of assets; or
- changes in cash requirements for our working capital needs;
- changes in fair value of contingent earn-out liabilities, warrant liabilities, and amortization of inventory step-up from acquisitions (included in cost of goods sold) and transition costs from acquisitions.
Additionally, Adjusted EBITDA excludes non-cash expense for stock-based compensation, which is and will remain a key element of our overall long-term incentive compensation package.
The following table represents a reconciliation of EBITDA and Adjusted EBITDA to net loss, which is the most directly comparable financial measure presented in accordance with GAAP (in thousands):
|
|
Three Months Ended March 31, |
|
|
|
2020 |
|
|
2021 |
|
|
|
(in thousands) |
|
| Net loss |
|
$ |
(15,030 |
) |
|
$ |
(82,553 |
) |
| Add: |
|
|
|
|
|
|
|
|
| Interest expense, net |
|
|
1,109 |
|
|
|
4,420 |
|
| Depreciation and amortization |
|
|
41 |
|
|
|
1,204 |
|
| EBITDA |
|
|
(13,880 |
) |
|
|
(76,929 |
) |
| Other expense (income), net |
|
|
25 |
|
|
|
(33 |
) |
| Change in fair value of contingent earn-out liabilities |
|
|
— |
|
|
|
15,645 |
|
Amortization of inventory step-up from acquisitions (included in
cost of goods sold) |
|
|
— |
|
|
|
1,808 |
|
| Change in fair market value of warrant liability |
|
|
— |
|
|
|
30,202 |
|
| Loss on initial issuance of warrant |
|
|
— |
|
|
|
20,147 |
|
| Professional fees related to acquisitions |
|
|
— |
|
|
|
449 |
|
| Transition cost from Healing Solution acquisition |
|
|
— |
|
|
|
552 |
|
| Stock-based compensation expense |
|
|
7,439 |
|
|
|
6,899 |
|
| Adjusted EBITDA |
|
$ |
(6,416 |
) |
|
$ |
(1,260 |
) |
Adjusted EBITDA as a percentage of net
revenue |
|
|
(25.0 |
)% |
|
|
(2.6 |
)% |
We also recognize that Contribution margin and Contribution margin as a percentage of net revenue have limitations as analytical financial measures. For example, Contribution margin does not reflect:
- general and administrative expenses necessary to operate our business;
- research and development expenses necessary for the development, operation and support of our software platform; or
- the fixed costs portion of our sales and distribution expenses including stock-based compensation expense;
- changes in fair value of contingent earn-out liabilities, and amortization of inventory step-up from acquisitions (included in cost of goods sold).
The following table provides a reconciliation of Contribution Margin to operating loss, which is the most directly comparable financial measure presented in accordance with GAAP (in thousands):
|
|
Three Months Ended March 31, |
|
|
|
2020 |
|
|
2021 |
|
|
|
(in thousands) |
|
| Operating loss |
|
$ |
(13,896 |
) |
|
$ |
(27,751 |
) |
| Add: |
|
|
|
|
|
|
|
|
| General and administrative expenses |
|
|
8,003 |
|
|
|
10,976 |
|
| Research and development expenses |
|
|
2,281 |
|
|
|
2,124 |
|
Sales and distribution fixed expenses, including
stock-based compensation expense |
|
|
2,857 |
|
|
|
3,332 |
|
| Change in fair value of contingent earn-out liabilities |
|
|
— |
|
|
|
15,645 |
|
Amortization of inventory step-up from acquisitions (included in
cost of goods sold) |
|
|
— |
|
|
|
1,808 |
|
| Contribution margin |
|
$ |
(755 |
) |
|
$ |
6,134 |
|
Contribution margin as a percentage of net
revenue |
|
|
(2.9 |
)% |
|
|
12.7 |
% |
We believe each of our products goes through three core phases as follows:
- Launch phase: During this phase, we leverage our technology to target opportunities identified using AIMEE. During this period of time, and due to the combination of discounts and investment in marketing, our net margin for a product could be as low as negative 35%. In general, a product may stay in the launch phase on average for 3 months.
- Sustain phase: Our goal is for every product we launch to enter the sustain phase and become profitable, with a target average of positive 10% net margin (i.e. contribution margin). Over time, our products benefit from economies of scale stemming from purchasing power both with manufacturers and with fulfillment providers.
- Liquidate phase: If a product does not enter the sustain phase or if the customer satisfaction of the product (i.e., ratings) are not satisfactory, then it will go to the liquidate phase and we will sell the remaining inventory.
The following table breaks out our quarterly results of operations by our product phases including our PaaS business line :
|
|
Three months ended March 31, 2020 (in thousands) (unaudited) |
|
|
Sustain |
|
Launch |
|
PaaS |
|
Liquidate/
Other |
|
Fixed
Costs |
|
Stock-based
compensation
expense |
|
Total |
| NET REVENUE |
|
$ |
16,904 |
|
$ |
6,154 |
|
$ |
361 |
|
$ |
2,209 |
|
$ |
– |
|
$ |
– |
|
$ |
25,628 |
| COST OF GOODS SOLD |
|
|
9,693 |
|
|
3,605 |
|
|
– |
|
|
2,032 |
|
|
– |
|
|
– |
|
|
15,330 |
| GROSS PROFIT |
|
|
7,211 |
|
|
2,549 |
|
|
361 |
|
|
177 |
|
|
– |
|
|
– |
|
$ |
10,298 |
| OPERATING EXPENSES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales and distribution |
|
|
6,138 |
|
|
3,153 |
|
|
88 |
|
|
1,674 |
|
|
1,265 |
|
|
1,592 |
|
|
13,910 |
| Research and development |
|
|
– |
|
|
– |
|
|
– |
|
|
– |
|
|
1,008 |
|
|
1,273 |
|
|
2,281 |
| General and administrative |
|
|
– |
|
|
– |
|
|
– |
|
|
– |
|
|
3,429 |
|
|
4,574 |
|
|
8,003 |
|
|
Three months ended March 31, 2021 (in thousands) (unaudited) |
|
|
Sustain |
|
Launch |
|
PaaS |
|
Liquidate/
Other |
|
Fixed
Costs |
|
Stock-based
compensation
expense |
|
Total |
| NET REVENUE |
|
$ |
41,994 |
|
$ |
2,599 |
|
$ |
181 |
|
$ |
3,410 |
|
$ |
– |
|
$ |
– |
|
48,184 |
| COST OF GOODS SOLD |
|
|
17,298 |
|
|
1,452 |
|
|
– |
|
|
3,316 |
|
|
– |
|
|
– |
|
22,066 |
| GROSS PROFIT |
|
|
24,696 |
|
|
1,147 |
|
|
181 |
|
|
94 |
|
|
– |
|
|
– |
|
26,118 |
| OPERATING EXPENSES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales and distribution (1) |
|
|
18,816 |
|
|
1,397 |
|
|
37 |
|
|
1,481 |
|
|
2,383 |
|
|
955 |
|
25,069 |
| Research and development |
|
|
– |
|
|
– |
|
|
– |
|
|
– |
|
|
1,241 |
|
|
883 |
|
2,124 |
| General and administrative (2) |
|
|
– |
|
|
– |
|
|
– |
|
|
– |
|
|
5,915 |
|
|
5,061 |
|
10,976 |
- included sales and distribution fixed costs is approximately Transition cost from Healing Solution acquisition of $0.5 million
- included in general and administrative fixed costs is approximately $1.1 million of amortization of intangibles and $0.5 million related to professional fees from mergers and acquisitions
Clean Power Capital (CSE: MOVE) (FWB: 2K6) (OTC: MOTNF), an investment company, has provided an update on its investment in FusionOne Energy Corp. FusionOne is a private, end-to-end technology and operations company specializing in renewable electricity, white hydrogen production and thermal processing technologies. The update noted that FusionOne’s fabrication facility is beginning the production of the HydroPlas continuous cycle reactor. The reactor is at the center of FusionOne’s hydrogen-producing system. In addition, FusionOne is retrofitting its Detroit, Michigan, location in preparation to receive the Hydroplas reactor. These key steps bring the company closer to its goal of solving two global problems: the plastic pandemic and a shift to clean energy production. Deployment of the company’s commercial system will result in thousands of tons of waste being diverted to a clean, profitable energy stream. “FusionOne’s patent-pending waste to white hydrogen and electricity is a complementary technology to PowerTap’s Gen3, which produces and dispenses blue hydrogen and provides potential cross-development opportunities,” said PowerTap president Salim Rahemtulla in the press release. PowerTap is Clean Power Capital’s largest subsidiary.
To view the full press release, visit http://ibn.fm/wpJDo
About Clean Power Capital Corp.
Clean Power is an investment company that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high-return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in its investments. For more information about the company, please visit www.CleanPower.Capital.
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at http://ibn.fm/MOTNF
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
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With governments around the world looking to cut their carbon emissions in a bid to halt runaway global warming, zero-emission electric vehicles (“EVs”) have been touted as the only way the world can rein in emissions produced by the transportation sector. But unlike the automotive industry, which has been around for close to a century, the EV sector is barely a decade old, and its inner workings remain a mystery to most people. So before you start thinking of going green, go through the following guide and acquaint yourself with the different types of EVs on the market.
Battery electric vehicle (“BEV”). A standard battery-powered electric vehicle, this is the zero-emission vehicle that has taken the automotive industry by storm. A BEV does not have an internal combustion engine, relying instead on an electric motor powered by electricity stored in the vehicle’s battery. You can charge an EV using a standard Level 1 EV charger, a slightly faster Level 2 charger or the powerful Level 3 chargers commonly used in commercial charging stations.
Hybrid electric vehicles (“HEV”). A hybrid electric vehicle is a car that contains both an internal combustion engine as well as an electric motor. However, unlike battery electric vehicles, HEVs use regenerative braking to charge their vehicles instead of external chargers. When an HEV driver stops, the kinetic energy used to stop the vehicle is stored in the battery, and the battery uses this power to aid the internal combustion engine in accelerating the vehicle’s speed.
There are also hybrid electric vehicles called micro or mild hybrids that use both the internal combustion engine and an electric motor to propel the vehicle. While the electric motor can only run the car for short distances, micro hybrids can help preserve fuel by turning the combustion engine off during total stops.
Plug-in hybrid electric vehicles (“PHEV”). A more evolved version of the hybrid electric vehicle, PHEVs contain an internal combustion engine as well as an electric motor that is powered by electricity stored by the onboard battery. Unlike HEV’s, plug-in hybrids can charge using external chargers, giving their batteries enough power to run the electric motor and cut your fuel consumption by as much as 60%.
Consequently, a plug-in hybrid can travel up to 40 miles on electric power alone. There are two types of PHEVs: extended-range electric vehicles (“EREVs”), which use the internal combustion engine to generate electricity, and the electric motor to run the vehicle. Once the onboard battery runs out, the electricity stored in the engine takes over. The second type is parallel or blended PHEVs, which use both the combustion engine and the electric motor to move the car.
However, drivers should note that recent reports have stated that plug-in hybrids may not be as eco-friendly as automakers claim. Additionally, any driver who truly wants to go green would have to ensure that the electricity they use to power their vehicles is sourced sustainably.
With companies such as Ideanomics Inc. (NASDAQ: IDEX) making it a mission to be facilitators of the switch to electric mobility, it is only a matter of time before EVs are the dominant type of vehicles on all roads.
NOTE TO INVESTORS: The latest news and updates relating to Ideanomics Inc. (NASDAQ: IDEX) are available in the company’s newsroom at https://ibn.fm/IDEX
About Green Car Stocks
Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.
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Excellon Resources (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) was featured in the latest episode of The Stock2Me Podcast, an InvestorBrandNetwork (“IBN”) solution to provide specialized content distribution via widespread syndication channels. Excellon’s CEO and President Brendan Cahill joined the program to introduce the company’s business model and its current portfolio of production and exploration resource projects spanning North America and Europe. “Excellon’s actually been around quite a long time. It was founded in 1989 but got to Mexico in the late ‘90s and started the Platosa Mine in 2005. It’s Mexico’s highest-grade silver producer,” Cahill explained. “We produce silver, lead and zinc and sell it into the global market, but Excellon’s always had a big focus on exploration. So, we’re also expanding in Idaho on gold projects and the very fascinating Silver City Project in Saxony, Germany — an area that was mined for 800 years for high-grade silver, with mining only stopping when Germany moved off the silver standard in 1873. We’re the first ones ever to use modern exploration technology on that project, and exploration starts again within the month looking for high-grade silver deposits.”
To view the full press release, visit http://ibn.fm/Hnv4K
About Excellon Resources Inc.
Excellon’s vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of its employees, communities and shareholders. The company is advancing a precious metals growth pipeline that includes: Platosa, Mexico’s highest-grade silver mine since production commenced in 2005; Kilgore, a high-quality gold development project in Idaho with strong economics and significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration. The company also aims to continue capitalizing on current market conditions by acquiring undervalued projects. Additional details on Excellon’s properties are available at www.ExcellonResources.com.
NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at http://ibn.fm/EXN
About InvestorWire
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A new study has discovered that individuals under the influence of psilocybin tend to have more original and profound thoughts. However, cognitive tests on creative ability conducted have shown that they score lower in the short term, with findings indicating that psilocybin, which is the active ingredient in magic mushrooms, improves an individual’s creative ability in the long term.
The research gathered proton magnetic resonance spectroscopy and functional magnetic resonance imaging data. which offered new insights into the basic neurobiological mechanisms linked to creativity.
Maastricht University PhD candidate Natasha Mason, who also happens to be the lead researcher of the study, stated that creativity is a necessary cognitive ability that is often associated with all aspects of our everyday life as it enables individuals to adapt to an environment that is always changing, while also allowing them to find different ways to solve issues. She added that the inability to be creative has often been linked to psychological disorders such as anxiety and depression, as people can get stuck in maladaptive thought patterns that accelerate negative behaviors.
Decades ago, in the ‘60s, researchers discovered evidence that LSD, another psychedelic substance, could improve creative problem-solving. Additionally, there was evidence that the LSD-induced psychedelic state could also harm an individual’s creativity.
Mason explained that in the past, various reports had been published suggesting that ingesting a psychedelic substance such as psilocybin and LSD could improve an individual’s creative ability.
For their research, the scientists recruited 60 healthy participants and assessed two types of deliberate creativity: divergent and convergent thinking. While the former represents the ability to come up with different solutions to an issue that has several possible answers, the latter represents the ability to come up with one optimal solution to an issue.
The researchers discovered that, while both types of creativity appeared to be hindered while the participants were in the psychedelic state, psilocybin brought about lasting improvements in divergent thinking when the individual wasn’t under the influence of the psychedelic substance. Additionally, they found that one week after psilocybin had been administered, participants who did not receive placebo came up with new ideas for how to use everyday objects.
The researchers also discovered that the changes in creativity that had been induced by psilocybin were linked to connectivity patterns in the default mode network, which is involved with spontaneous thinking, imagination and daydreaming, among others.
The study was reported in the “Translational Psychiatry” journal.
What isn’t in dispute within the research community is the potential of psychedelics such as psilocybin to treat a variety of mental health conditions, and companies such as Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) have made progress in their quest to develop an anti-depression medication from psilocybin.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) are available in the company’s newsroom at https://ibn.fm/CYBN
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- Commercial application of NeuroEEG and NeuroCap growing across ICUs, acute inpatient care and other emergency care in U.S.
- BRSF plans to launch devices in Canada
- Company expands footprint, plans patent applications in Latin America, Europe
Brain Scientific (OTCQB: BRSF), a neurology-focused medical device and software company, has unveiled the outlook for 2021. Brain Scientific continues to make strides within neurology by revolutionizing the brain diagnostic market with its groundbreaking technology. The company recently announced that its R&D efforts surged in 2020 with an investment of $275,926, which marks a 266% increase over 2019’s total of $103,616 (https://ibn.fm/Uiqs7).
Despite a challenging year due to the pandemic, Brain Scientific reached significant milestones in 2020. A limited-scope commercial application of the NeuroEEG(TM) and NeuroCap(TM) is in progress in the United States, expected to be followed by the Canadian market. The initial entry market is identified as ICUs, acute inpatient care and other emergency facilities in the United States.
As 2020 drew to a close, Brain Scientific announced that its NeuroCap would become available to the pediatric market in the United States. The child-size NeuroCap headset helps overcome the common challenges medical professionals face when conducting electroencephalograms (“EEG”) in pediatrics by bringing comfort, speed and reliability to the brain testing of children (https://ibn.fm/fWNps).
At the end of last year, the company also filed a patent application for its new long-term monitoring EEG cap. It is a new flexible, full-head EEG cap developed as a response to the market demand for disposable EEG solution for prolonged EEG recordings (12 hours and longer). (https://ibn.fm/Z4Nqv).
Brain Scientific is determined to bring its cutting-edge technology to the world and expand its footprint in the international landscape. Last year, the company established a wholly owned subsidiary in Russia and Europe (Poland) for product distribution and certification, and BRSF appears to have even bigger plans for the future.
Within the next 24 months, the company expects to scale production in the United States, expand into the EU market and file international patent applications in Latin America, Europe and more. Future plans also include the introduction of a BRSF long-term monitoring cap and the addition of long-term monitoring, 24-channel EEG to its proprietary lineup of diagnostic devices.
The third phase of development scheduled for 2021–2022 is also expected to be centered around the use of AI-powered data analysis to bring efficiency, consistency and accuracy to modern neurology diagnostics. This segment is intended to include the launch of data-storage capabilities for normalized data brain scans and the further development of the company’s planned AI neuro net while advancing application for minimally invasive graphene electrodes connected to the micro-EEG. At the forefront of neurology device technology, Brain Scientific appears poised to transform the neurology landscape and establish a new innovative norm for clinicians.
For more information, visit the company’s website at www.BrainScientific.com.
NOTE TO INVESTORS: The latest news and updates relating to BRSF are available in the company’s newsroom at https://ibn.fm/BRSF
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- On April 20, Infobird Co. Ltd debuted on the Nasdaq Capital Markets under the trade symbol ‘IFBD’, with WestPark Capital, the offering’s book-running manager, later announcing the closing of the IPO
- 6,250,000 ordinary shares were sold for a total of $25 million prior to fees and expenses
- Per the offering’s prospectus, the company is eying significant expansion, with the proceeds of the offering likely to be channeled into the expansion plans
As Nasdaq opened on Tuesday, April 20, a new era beckoned for Infobird (NASDAQ: IFBD) since it was the day Infobird officially listed on the Nasdaq Capital Markets. In a later communique, WestPark Capital Inc., the book-running manager for the offering, announced the closing of the IPO wherein 6,250,000 ordinary shares were sold, grossing $25 million in proceeds before fees and expenses (https://ibn.fm/qigjT).
A leading software-as-a-service (“SaaS”) company based in Beijing and offering AI-enabled end-to-end customer engagement products in China, Infobird has a long history of delivering value-driven software solutions that save on costs, increase revenue, and improve service quality, as well as customer satisfaction. These solutions are tailored for all stages of its clients’ sales processes, including pre-sales, in-sales, and post-sales customer support. Moreover, the company offers AI-powered cloud-based sales management software packages that perform intelligent quality inspections and training to help clients monitor, access, and improve the performance of agents.
The successes of Infobird’s multiple software solutions are anchored on its patented Voice over Internet Protocol (“VoIP”) application technologies, artificial intelligence (“AI”) and machine learning functionalities, proprietary cloud computing architecture, a no-code development platform and its many years’ experience.
This, coupled with its commitment to its clientele captured in its mission statement, “to make your customer engagement smart and personalized,” has guided the company through the past years, helping it build a reputation as a premier provider of the various AI-powered software solutions. But for Infobird, it does not stop at that. The company is targeting market dominance (https://ibn.fm/36uyp), and the IPO can be seen as a step towards fulfilling this goal.
In its final prospectus (https://ibn.fm/Vsi8t), IFBD emphasized continual innovation as a way of attracting new clients and retaining existing clientele. This underpins research and development as a crucial focus for the company.
The prospectus also detailed that Infobird intends to increase its client base and market share by expanding its sales team, launching offline and online advertising campaigns, improving its website and social media accounts, enhancing its client lifecycle management, and continuing to organize and participate in forums and seminars.
Further, IFBD is keen on expanding the AI and machine learning capabilities of its applications to facilitate a comprehensive customer engagement experience that is proactive and predictive. To achieve this, the software solutions will consolidate omnichannel and intelligent interactions with customers from telephone, email, social media platforms, websites and text messages throughout the whole customer journey, and predictions of their intentions and behaviors.
The fulfillment of such strategies costs money, meaning the proceeds from the closing of the IPO provide the necessary impetus for the company to advance to the next phase of its operations, as outlined by its plans. With the stage already set for this advancement to occur, more revenue and profits are in view.
For more information, visit the company’s website at www.Infobird.com/en/index.html
NOTE TO INVESTORS: The latest news and updates relating to IFBD are available in the company’s newsroom at https://ibn.fm/IFBD
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ChineseWire (CW) is a specialized communications platform focused on promising China-based companies that are listed in North America. As one of 40+ brands within the InvestorBrandNetwork (“IBN”), CW provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution to IBN’s millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, CW is uniquely positioned to best serve private and public Chinese companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CW brings its clients unparalleled visibility, recognition and brand awareness. CW is where news, content and information converge.
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- Rising metal prices have led to an increased incidence of catalytic converter thefts from automobiles because of the minerals they contain
- While business security forces work to stem parking area vulnerabilities, California-based Knightscope is demonstrating the importance of its parking area-patrolling autonomous security robots (“ASRs”)
- One of Knightscope’s ASR robot models was featured in a report on a 9-acre Las Vegas apartment complex’s crime-ridden property, which has seen a drop in calls to police since the ASR was deployed
- The Las Vegas apartment complex managers said they were so pleased with the ASR’s performance they intended to order more Knightscope robots for other properties
The rising incidence of catalytic converter thefts from vehicles, particularly in Northeastern states, highlights one of the challenges of maintaining security vigilance against criminal activity on business properties. From Vermont (https://ibn.fm/R7bki) to Minnesota (https://ibn.fm/QVTCh) and down to North Carolina (https://ibn.fm/86bDZ), news agencies have picked up on reports the emissions control devices are being purloined for rare minerals such as platinum, palladium and rhodium.
“This spring, there’s been quite the resurgence,” a Vermont police officer told news reporters. “Right now, our biggest problem is it happens to such an extent that a lot of the businesses don’t report it anymore. … It has gotten so out of control that we’ve had several reports of people trying to cut them off during the day. Usually it would be an overnight shift.”
The North Carolina report noted questions had arisen about thefts from the hospital’s five parking decks despite the hospital’s claims its security force patrols the area and monitors for criminal activity. And Security magazine recently discussed parking deck concerns that go beyond thefts — the efforts to reduce the number of auto vs. pedestrian injuries and deaths when drivers are allegedly reckless, distracted or impaired in an environment where autos and pedestrians are in close proximity with sometimes low visibility (https://ibn.fm/cFjHm).
While businesses can deploy security forces and station cameras strategically to help intercept crime, autonomous security robot (“ASR”) developer Knightscope has developed a solution that provides an unsleeping, ever-vigilant presence on business properties that may be subject to criminal activity or other types of emergency response incidents.
Knightscope’s K series ASRs are capable of using machine learning and artificial intelligence developments to monitor for potential threats, record them, issue warnings, and transmit pertinent information to personnel operating data centers. One ASR model is stationary; two others also deployed to serve clients are mobile and can operate in indoor or outdoor environments, recharging themselves periodically and functioning without human intervention.
In terms of intercepting parking area crime, their effectiveness was demonstrated by a Las Vegas Review-Journal report in March that noted a metropolitan apartment complex with a history of significant criminal activity had deployed one of Knightscope’s robots — the first such client in the Las Vegas area — and that the complex has now become “a quieter, more peaceful place to live” as calls to the police have fallen off (https://ibn.fm/UPrBM).
“It’s been very useful in several ways,” apartment complex manager Carmen Batiz told reporters. “It can advise people when they are out past the 10 p.m. curfew and the four video cameras tend to make people avoid it. When we have vandalism reports we can go through the video and get a time frame of when it happened. It has a button so people can get human help quick in an emergency. … We have eight other properties and we’re definitely going to bring on more robots and even the Wynn (hotel resort-casino empire) had people come check it out.”
For more information, visit the company’s website at www.Knightscope.com and if you have a need for subscription service you may request a private demonstration of the technology at www.Knightscope.com/demo.
NOTE TO INVESTORS: The latest news and updates relating to Knightscope are available in the company’s newsroom at https://ibn.fm/Knight
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- XPhyto Therapeutics Corp. recently announced it has entered into a distribution, storage and logistics agreement with a German distributor with an established network throughout Germany
- Germany holds promise due to regulations requiring mandatory weekly testing for its citizens; this has the possibility of ramping up sales
- Anticipating the increase in sales and distribution, XPhyto expanded its commercial leadership team by bringing on board Mr. Wolfgang Probst and Mr. Manfred Buchberger
- Mr. Probst will be the company’s Chief Operations Officer (“COO”), while Mr. Buchberger will be the Head of Corporate Development at wholly owned subsidiary XP Diagnostics GmbH
The approvals XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) received in Europe back in March for the commercial production and use of its commercial 25-minute COVID-19 RT-PCR test system (“Covid-ID Lab”) (https://ibn.fm/UTfVU), set the ball rolling for events that would lead to a recent announcement.
On April 21, XPhyto, a life sciences technology accelerator, announced it has entered into a distribution, storage and logistics agreement with a full-fledged German pharmaceutical wholesaler and service provider, which will back the company’s efforts to launch sales in April (https://ibn.fm/65aYL). The German distributor will distribute, store, and deliver the Covid-ID Lab test kits to XPhyto’s customers in line with the relevant logistical and regulatory requirements in Germany and the product specifications. In addition, the agreement stipulates that the distributor fulfills storage, reporting and notification obligations, processes any product returned by buyers and provides documentation.
With the agreement, XPhyto CEO and Director Hugh Rogers noted that the company had secured a strong partner with an already established network in Germany. “The company’s commercialization strategy is focused on the German market for initial product launch and the creation of robust and sustainable sales,” he added.
Germany shows promise as a market that will ramp up XPhyto’s sales revenue. The slowed vaccination rollout in the country has meant that testing requirements have persisted. In fact, in late March, the government made it mandatory for workers employed in sectors where physical contact with customers is inevitable to take at least two rapid tests weekly (https://ibn.fm/EWjuk). The new regulations also mandated every person to conduct a point-of-care test before attending a private or public event (https://ibn.fm/cTE6B).
These regulatory changes came barely a month since the country experienced shortages in rapid test kits following a steep spike in demand during the first week of March. This rise in demand was occasioned by the German government’s reliance on rapid tests to steer the country through the pandemic and assuage the citizens’ displeasure at the prevailing COVID-19 lockdowns at the time. Beginning the second week of March, every German citizen would be entitled to a single free rapid test every week, to be conducted by a professional at designated testing centers or pharmacies (https://ibn.fm/uYHtJ).
Combined, these regulatory requirements show that the conditions are favorable for XPhyto to witness sustainable sales, particularly with the inking of the distribution deal. Anticipating this rise in sales, the company made additions to its leadership team, focusing on the commercial aspect of the business (https://ibn.fm/9UuBL). In a recent announcement, XPhyto reported that it had appointed Mr. Wolfgang Probst as its Chief Operations Officer (“COO”) and Mr. Manfred Buchberger as the Head of Corporate Development at XP Diagnostics GmbH, XPhyto’s wholly owned German subsidiary.
Both Mr. Probst and Mr. Buchberger bring a wealth of experience to their new positions. Mr. Probst, a seasoned management and finance consultant with a proven track record of organizational restructuring, strategic planning and leadership, is credited with restructuring XPhyto’s operations in Europe, as well as spearheading partnerships with institutions and other companies. He will be in charge of the company’s global operations and remain the XP Diagnostics MD and an XPhyto director.
Mr. Buchberger, a global leader in the medical diagnostics industry, has near ten years’ experience as a CEO and member of the Global Management Board of a leading medical diagnostics and analytics company based in Europe. He is accredited with launching new medical diagnostic products, as well as creating, effecting and managing business growth strategies across four continents.
For more information, visit the company’s website at www.XPhyto.com.
NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://ibn.fm/XPHYF
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VistaGen (NASDAQ: VTGN), a biopharmaceutical company developing new generation medicines with the potential to go beyond the current standard of care for anxiety, depression and other central nervous system (“CNS”) disorders, today announced the appointment of Ann Cunningham as its chief commercial officer. Cunningham, who has been and will continue serving on VTGN’s board of directors, has a proven pharmaceutical commercial track record of more than 25 years delivering sales, marketing and global life cycle product management expertise in roles across several health care markets, including neuropsychiatry and other CNS markets that VistaGen is pursuing. “Since joining our board, Ann’s commercial insight, expertise and leadership experience has been tremendously helpful in support of our pre-commercial planning for PH94B, with special emphasis on a broad range of anxiety markets in the U.S. With the near-term launch of our Phase 3 clinical development program for PH94B, our investigational product focused on the acute treatment of anxiety in adults with social anxiety disorder, Ann’s appointment as our chief commercial officer adds considerable strength to the world-class team we have assembled across all key functional areas necessary to advance our company through the next phases of our growth,” said Shawn Singh, chief executive officer of VistaGen. “Ann’s many notable accomplishments throughout her distinguished career in the pharmaceutical industry include leading campaigns for prominent neuropsychiatric drug treatments in multiple markets where we believe our investigational products, including PH94B, have therapeutic and commercial potential. As we look to transition from clinical development into a commercial growth mode and steadfastly pursue our mission to create life-changing medicines to improve mental health and well-being, Ann’s leadership will make a difference.”
To view the full press release, visit http://ibn.fm/DjnTW
About VistaGen Therapeutics Inc.
VistaGen is a biopharmaceutical company committed to developing and commercializing innovative medicines with the potential to go beyond the current standard of care for anxiety, depression and other CNS disorders. Each of VistaGen’s three drug candidates has a differentiated potential mechanism of action, has been well-tolerated in all clinical studies to date and has therapeutic potential in multiple CNS markets. For more information, please visit www.VistaGen.com and connect with VistaGen on Twitter, LinkedIn and Facebook.
NOTE TO INVESTORS: The latest news and updates relating to VTGN are available in the company’s newsroom at http://ibn.fm/VTGN
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- Definition of craft spirits differs widely from distillery to consumer
- SBEV’s SALT Tequila strives to stand out among tequila crowd
- SALT Naturally Flavored Tequila is 100% Blue Agave, 80 proof
- Careful attention to detail results in mellow, sweet, fully developed agave flavor unmatched in industry
The definition of craft distillery varies throughout the industry; in fact, the American Craft Spirits Association (“ACSA”) has decided not to define craft but allow its members and consumers to ultimately determine their own definition (https://ibn.fm/iKQzn). Splash Beverage Group (OTCQB: SBEV), a holding company of leading portfolio of beverage brands, has defined the term with its one-of-a-kind SALT Tequila (https://ibn.fm/2Mk1J).
Although the ACSA accepts that the term “craft” is in the eye of the beholder, the association notes that it thinks of craft spirits as “a product produced by a distillery who values the importance of transparency in distilling, and remains forthcoming regarding the spirit’s ingredients, distilling location, and aging and bottling process.”
Splash Beverages does all of this and more through the creation of its proprietary SALT Tequila. Splash notes that its unique tequila offering relies on the focus and dedication of a boutique distillery, the skill and expertise of a tequila master, and experts trained in the art and craft of tequila. The result? The first and only tequila crafted to be enjoyed as a drink—best neat or over ice.
And no wonder the beverage stands out in the tequila crowd. Each bottle of SALT Tequila is made from handpicked, 100% pure blue agave plants grown in the mountains of Jalisco. The area is one of the Mexico’s most fertile agave-growing regions, and each agave plant grows seven to 10 years before being harvested. Such attention to detail results in a mellow, sweet, fully developed agave flavor unmatched in the industry.
In short, SBEV’s SALT Tequila represents years of deliberate determination, inspiring innovation, and invaluable expertise culminating together in the clear, smooth, sweet and natural flavor that has come to define one of the industry’s finest tequila offerings.
Specializing in manufacturing, distributing, sales and marketing of various beverages across multiple channels, Splash operates in both the alcoholic and nonalcoholic beverage segments, allowing it to leverage efficiencies and dilute risk. The company’s business strategy is to quickly develop and accelerate pre-existing brands to exit for cash events. The company’s management team has invaluable expertise and insight, and the company strives to identify brands it perceives to have highly visible preexisting brand awareness or pure category innovation.
Specifically, the company look for brands and products that are on trend and deliver natural quality, health benefits, freshness and refreshment within their beverages. The company looks to maintain highest performance standards and focus on execution as it works with distributors and retail partners to achieve and exceed all goals. In addition, the company offers support for members of the U.S. armed forces, first responders and health-care professionals.
For more information, visit the company’s website at www.SplashBeverageGroup.com.
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PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) founder Sean Dollinger talked with Cassandra Troy, Little West co-founder and owner during a recent PlantX podcast. PlantX recently entered into a membership interest purchase agreement with Little West LLC through its subsidiary PlantX Lifestyle USA Inc. Dollinger hosts the podcast, which explores what’s new in the world of PlantX. During the podcast, Dollinger and Troy talked about the transaction, which is the third PLTXF acquisition. Troy gave a brief overview of Little West’s history, which she started with her husband, Andrew, in 2013. Instead of having a wedding, the couple invested their money in opening a small 200-square-foot juice bar. The company grew quickly, and ultimately today no longer has retail locations but operates completely wholesale. In addition to the PlantX podcast, PlantX Life CEO Julia Frank was the guest on a recent episode of the Dealmaker Show, a fast-paced and high-energy forum hosted by bestselling author Oren Klaff. During the interview, Frank talked about her experience as an executive with some of the world’s largest automotive corporations, as well as her passion for a plant-based lifestyle and the growing acceptance of plant-based choices. “When you are living a 100% plant-based lifestyle, of course there are companies out there that offer plant-based products,” said PlantX Life CEO Julia Frank in the interview. “But let’s say you’re looking for a plant-based meat product or plant-based cosmetics or even plant-based pet foods, you would have to check on multiple different websites. There was not a one-stop shop like Amazon for plant-based products where you can basically find any plant-based product available on the market…. Our website went live at the end of March 2020, which was basically the first month of lockdown from the pandemic…. We set up an e-commerce business that delivers plant-based products to your doorstep in the times of a lockdown…. It was unplanned right timing.”
To view the full podcasts, visit https://ibn.fm/rj475 and https://ibn.fm/9j7Ew
To view the full press release, visit https://ibn.fm/kLBT8
About PlantX Life Inc.
As the digital face of the plant-based community, PlantX’s platform is the one-stop-shop for everything plant-based. With its fast growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing, and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of like-minded consumers, and most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle, and thriving in a longer, healthier and happier life. For more information about this company, please visit www.PlantX.com and www.PlantX.ca.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at http://ibn.fm/PLTXF
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Nextech (CSE: NTAR) (NEO: NTAR) (OTCQB: NEXCF) (FSE: N29), a leading provider of web-based augmented reality for e-commerce, advertising and virtual events, was featured in the latest episode of The Stock2Me Podcast, an InvestorBrandNetwork (“IBN”) solution to provide specialized content distribution via widespread syndication channels. Nextech President Paul Duffy joined the latest episode to discuss the company’s technology and its distinct capability to augment views and superimpose holograms to physical locations. “What makes us different is that we put augmented reality into everything that we do. AR is the ability to take photorealistic objects – it could be people, products or places – and superimpose them using your smartphone,” Duffy said. “So, as you view your phone over a location you can conjure up a hologram and literally augment the reality of that space. If you want to view a vacuum cleaner, you could literally press a button on our website, and it will conjure up through your browser that particular vacuum as a hologram. You can pinch it, zoom it, rotate it, put it in your closet and take a selfie to send to your partner and say, ‘That’s the one we want to buy.’ AR is very useful in converting online shoppers into buyers.”
To view the full press release, visit http://ibn.fm/gv539
About Nextech AR Solutions Corp.
Nextech develops and operates augmented reality (“AR”) platforms that transport three-dimensional (“3D”) product visualizations, human holograms and 360° portals to its audiences, altering e-commerce, digital advertising, hybrid virtual events (events held in a digital format blended with in-person attendance) and learning and training experiences. Nextech focuses on developing AR solutions; however, most of the company’s revenues are derived from three ecommerce platforms: VacuumCleanerMarket.com, InfinitePetLife.com and TruLyfeSupplements.com. For more information about the company, visit www.NextechAR.com.
NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at http://ibn.fm/NEXCF
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
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After decades of heating up the atmosphere and driving climate change, most of the world has now decided to go green. Transportation accounts for up to 24% of global carbon emissions, and most governments have pledged to replace internal combustion engine vehicles with zero emission electric vehicles (“EVs”) over the next few decades in a bid to reduce their carbon emissions.
However, the problem is most EVs on the market are expensive, meaning a large portion of drivers who would like to purchase an EV simply cannot afford to. At current prices, most countries probably won’t be able to reach their electric vehicle targets.
According to a new study, however, the United States may be able to achieve its goal of phasing out the sale of new gas-powered vehicles by 2035, thanks to industry advances and plummeting battery prices. Despite being the second-largest market for electric vehicles, battery electric vehicles currently make up only 2% of the vehicles on American roads. Sky-high costs coupled with insufficient charging stations have kept many drivers from making the switch. However, while charging infrastructure in the country has gradually improved, high upfront costs have kept electric vehicles from many drivers’ reach.
The study from the University of California, Berkeley found that EV battery prices will drop drastically over the next decade, making electric vehicles a lot more affordable. Additionally, advances in EV technology have allowed EV makers to develop vehicles that are efficient and require less maintenance. Together, reducing battery prices and industry advances will rapidly increase EV adoption, ultimately saving drivers around $2.7 tn in costs by the year 2050.
Consequently, researchers say, the United States could technically be able to ban the sale of new petrol- and diesel-powered vehicles within the next 15 years. According to Amol Phadke, the study’s co-author and a senior scientist at the University of California, Berkeley, electrifying transport is essential if the country wishes to meet its carbon emission goals. With the development of fast-charging technology and batteries with a range of at least 250 miles, the factors barring EV adoption are slowly fading away.
However, the report notes that the electric vehicle sector will need the government’s help if EVs are to eventually replace gas-powered vehicles. Government policies that subsidize electric vehicle and support the development of public-charging infrastructure will be crucial for the nation to meet its carbon emission goals. Melissa Lott, a Columbia University energy policy expert, notes that authorities should also find a way to provide low-income people as well as those residing in high-density housing with EV charging infrastructure.
Seeing as lots of companies, such as Net Element (NASDAQ: NETE), are venturing into the electric vehicle space, it is easy to see why the study above predicts that it is possible for EVs to be the only vehicles sold within U.S. borders by 2035.
NOTE TO INVESTORS: The latest news and updates relating to Net Element (NASDAQ: NETE) are available in the company’s newsroom at http://ibn.fm/NETE
About Green Car Stocks
Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.
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Ideanomics (NASDAQ: IDEX) is a global company facilitating the adoption of commercial electric vehicles and supporting next-generation financial services and fintech products. The global company is driving next generation solutions to energy consumption and, through its Ideanomics Mobility division, has evolved into a synergistic ecosystem of subsidiaries and investments in the electric vehicle (“EV”) industry. A recent article regarding this quotes Ideanomics CEO Alf Poor, stating “We have a unique view across what we believe is the EV value chain because we have operations in China, South Asia, in Malaysia, in Europe and in North America, and we have interesting subsidiaries and operations and investments in everything in the value chain from charging systems through the two-wheelers and three-wheelers, buses, trucks and even EV tractors on the agricultural side as well.”
To view the full article, visit https://ibn.fm/lzxsn
About Ideanomics Inc.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The company’s Ideanomics Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under its innovative sales to financing to charging (“S2F2C”) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and company shareholders with the opportunity to participate in industries offering high growth potential. Ideanomics is headquartered in New York, NY, with offices in Beijing, Hangzhou and Qingdao and operations in the U.S., China, Ukraine, and Malaysia. For more information, visit www.Ideanomics.com.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at http://ibn.fm/IDEX
About Green Car Stocks
Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.
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- FingerMotion has forged strong relationships with the three largest telecommunication companies in China
- The relationships have given FNGR access to subscriber data, allowing it to test its proprietary data analytics algorithms in real-time
- The algorithms, created by FingerMotion’s Big Data Insights Division, leverage raw mobile data to create a user persona
A technological company, FingerMotion (OTCQX: FNGR) has evolved over the years. What began as a mobile gaming company, launched in 2016, morphed into a mobile payment and recharge service provider in 2018, offering these services to China Unicom’s (NYSE: CHU) customers. That same year, FNGR was awarded a contract to become CHU’s big data analysis partner, with success from this agreement leading to a similar arrangement with China Mobile the following year. In 2019, the company began offering mobile payment and recharge services to the users of both China Mobile and China Telecom (NYSE: CHA).
“We began by forging relationships with the three telecoms in China, China Telecom, China Mobile and China Unicom. By building up our relationships and providing consistent and dependable service, they have, in turn, given us unprecedented access to their respective user bases. This allows us to target telecom users with innovative products in an unobtrusive manner,” FingerMotion CEO Martin Shen said in a presentation during the Emerging Growth Conference (https://ibn.fm/Bc3iN).
The relationships with the three telecommunication companies, whose combined subscriber base as of 2020 stood at over 1.5 billion users (https://ibn.fm/YpyFF), helped FingerMotion venture into the big data insights business.
Shen, who described the company’s Big Data Insights division as the most exciting, noted in a separate webinar address (https://ibn.fm/eX8TW) that this division comprises a team of data scientists and actuaries who have developed proprietary algorithms to predict human behavior. FNGR then leverages its relationship with the telecommunication juggernauts to run these algorithms in real-time and off a secure database.
“We’re well-positioned to capitalize on the continually growing power of mobile data, transforming telecommunication signals into data blocks and integrating them with a host of external data and auxiliary information for mining and analyzing behavioral insights,” Shen added.
According to Shen, the company aims to create an integrated data ecosystem through technology and innovation. To do this, it intends to start with offering enhanced efficiency and user experience in mobile communications and subsequently extend the scope to deeper consumer behavior analytics, anchored on a comprehensive set of high quality and relevant mobile user data. This approach will enable the company to meet the needs of its customers through products and partnerships.
FingerMotion, which intends to ultimately offer products for the insurance, healthcare and finance sectors, is initially focusing on insuratech. This focus was evident in January when the company announced it has partnered with Pacific Life Re-insurance, in effect becoming its data provider. Notably, the partnership will extend beyond simply providing data as FNGR will also offer behavioral analytics, which Shen described as “brief insights into human nature itself.”
To generate the data insights, FingerMotion’s algorithm will rely on raw mobile data, including rudimentary information such as age, gender and place of residence. The algorithm will overlay this basic tier with a person’s geospatial information, such as places they have visited, to learn about the person and what they do throughout the day. Finally, it will utilize the individual’s internet usage, as well as call and SMS data.
However, it’s important to remember in all of this that the personal information is scrubbed, and only demographic information is used to create the data packets that personify the mobile data. By superimposing the four tiers, the algorithm can create anonymous data packets that personify the mobile data, describing the phone usage with parameters such as their occupation, number of hours they work, fitness level and more. FingerMotion is clearly leveraging raw mobile data to offer a big data asset that can significantly help companies.
For more information, visit the company’s website at www.FingerMotion.com.
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR
About ChineseWire
ChineseWire (CW) is a specialized communications platform focused on promising China-based companies that are listed in North America. As one of 40+ brands within the InvestorBrandNetwork (“IBN”), CW provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution to IBN’s millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, CW is uniquely positioned to best serve private and public Chinese companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CW brings its clients unparalleled visibility, recognition and brand awareness. CW is where news, content and information converge.
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A mathematical model developed by scientists from Sweden’s Chalmers University of Technology has been designed to help researchers create tailored diets and new probiotics to prevent illnesses. The lead author of the study, Prof. Jens Nielsen, explained that intestinal bacteria played a crucial role in the development of illnesses and the quality of an individual’s health and noted that the mathematical model would be very helpful in these areas. The study was reported in the “PNAS” journal.
The new study highlights the performance of the mathematical model in making predictions associated with a couple of prior clinical studies: one that involved adults who suffer from obesity in Finland and another that involved Swedish infants.
The aforementioned studies measured various health indicators, which scientists sought to compare with the predictions made by their mathematical model. They discovered that the model was highly accurate in predicting numerous variables.
In addition, the studies had measured how intestinal bacteria in obese grownups changed after adopting a restricted diet. Once again, the predictions from the mathematical model proved to be accurate.
Nielsen stated that the model’s results were encouraging and asserted that it could be utilized in developing specially tailored diets. He added that the mathematical model they had designed was unique as it considered all the variables that may influence how various bacteria functions and grows. He explained that the model included data on how food made its way through the gastrointestinal tract and how this influenced the bacteria along the way.
The data used to develop the model was acquired from years and years of pre-existing clinical research.
Nielsen also noted that research on the intestinal bacterial composition or the human microbiome and diet was a research field that generated a lot of interest, both from the general public as well as researchers. This, he said, was because a change in the bacterial composition of intestinal bacteria could signify or be linked to various diseases, including cardiovascular ailments, diabetes or obesity. Additionally, changes in the composition could also influence how an individual’s body responded to personalized diets or various types of cancer treatments.
Nielsen revealed that his team of researchers would, in future studies, utilize the model in clinical studies. He also disclosed that they had already collaborated with the Sahlgrenska University Hospital to conduct a study in which older women were being treated for osteoporosis using Lactobacillus reuteri, a type of bacteria. Thus far, researchers had observed that some patients responded better to the treatment than others, and the model would be utilized in analyzing why this happened.
If such computer-aided customized diets become a reality, the world may see fewer cases of desperately ill patients suffering from the kind of central nervous system and brain cancers that companies such as CNS Pharmaceuticals Inc. (NASDAQ: CNSP) are constantly at work to find new remedies for.
NOTE TO INVESTORS: The latest news and updates relating to CNS Pharmaceuticals Inc. (NASDAQ: CNSP) are available in the company’s newsroom at https://ibn.fm/CNSP
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) has announced that it will file its 2020 audited financial statement on or before May 31, 2021. In addition, the company released a brief company update featuring highlights of 2020. The update noted that Q4 2020 product sales for the company totaled an estimated CDN $26.5 million, which was a 218% increase over the Q3. The company also completed its acquisitions of Acreage Florida Inc., PV (“PV”) and Mid-American Growers. RWBYF also entered into a definitive agreement to purchase one of only 21 cannabis licenses and operations in Illinois. The company submitted required applications to complete the acquisition of all the assets of PharmaCo. and raised more than US$110 million in the first four months of 2021. In addition the company has either finalized or has entered into definitive agreements for the acquisition of THC-licensed entities in Michigan, Illinois, Florida, California and Massachusetts. The company noted that upon the closing of all planned acquisitions, RWB branded products will be available in six of the top 10 states in the country, measured by cannabis revenue, with sales in 2020 totaling more than $8.8 billion. “Despite our frustration with the delay in releasing our results for 2020, we are thrilled with what we have accomplished over the year, and the first few months of 2021,” said Red White & Bloom Brands CEO and chair Brad Rogers in the press release. “I see a company that has grown from being an arm’s-length investor in Michigan to a footprint that will see RWB deploy its house of brand strategy in six of the most coveted cannabis markets in the United States.”
To view the full press release, visit http://ibn.fm/RfLaK
About Red White & Bloom Brands Inc.
Red White & Bloom Brands is positioning itself to be one of the top-three, multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on major U.S. markets, including Florida, Illinois, California, Michigan, Oklahoma and Arizona with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com.
NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at http://ibn.fm/RWBYF
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- Effective Duty of Care plans are supported with Continuous Risk Management programs, and Knightscope Autonomous Security Robots (“ASRs”) can potentially answer these organizational needs
- A K5 named “Westy,” implemented in a Las Vegas Valley apartment complex, has effectively reduced the property’s 911 call rate
- Knightscope technologies are making real-time monitoring efficient across- the-board
- Capabilities can be used for convenient temperature monitoring, which has become a staple in post-pandemic America
In light of the impact 2020 has had across the United States, it has become critically important for companies to prioritize creating a Duty of Care plan, according to a recent Security Magazine interview with Hugh Dunleavy, Senior Vice President, United States Operations and Chief Security Officer of Crisis24, a GardaWorld company (https://ibn.fm/RDes1). “Duty of Care” is a legal term that refers to the standard of care considered reasonable that any organization, risk manager, or executive is expected to take to mitigate potential risk to staff members.
Duty of Care has a broad, evolving definition that covers the extended workplace and can include employee training, safety, physical security, awareness, medical and mental health support. In the interview, Dunleavy points out that an effective Duty of Care is supported by a Continuous Risk Management (“CRM”) program intended to support business decisions that mitigate or avoid risk from all the hazards that may impact staff and operations. Organizations must learn and improve incident response.
The critical components CRM supports are:
- Monitoring (timely, effective and accurate intelligence)
- Notification
- Preparation/Avoidance (training, exercises and pre-incident planning)
- Post-Incident Critical After-Actions/Lessons Learned
- Communications
- Response/Recovery
California-based autonomous security robot (“ASR”) manufacturer Knightscope may answer the Duty of Care plan organizations need to have in place for staff and operational needs. Knightscope currently has three ASR models on the market – K1, K3 and K5, all of which can be remotely monitored through the Knightscope Security Operations Center (“KSOC”).
Knightscope’s K1 is a stationary model with indoor/outdoor capability. The standalone unit can be branded to fit the needs of individual organizations. The K1 uses a standard 110v power outlet and transfers data over 4G/5G LTE, Wi-Fi, or Ethernet. K3 is an indoor, fully autonomous robot model that runs 24/7, autonomously recharging itself. This ASR model moves at a maximum speed of 3 mph and is the “smart eyes and ears” of security operations, covering more ground efficiently and consistently.
The K5 is Knightscope’s flagship fully autonomous, self-charging robot suitable for indoor and outdoor use but is primarily used in outdoor settings. It has nearly 1 million hours operating in the field and has already faced its fourth winter. This model moves at a maximum speed of 3 mph and can be used for securing large areas.
The KSOC allows access to the ASRs at any time, from any place, and on any device. The KSOC is a fully functional, browser-based user interface that comes standard with every subscription. Real-time data is accessible around the clock with coverage 24/7/365. KSOC can also keep organizations CDC compliant and detect elevated body temperature with contact-free fever alerts from an optional medical-grade sensor on the K1.
As recently as March 2021, Knightscope ASRs have made the news as an addition to transforming a northeast Las Vegas Valley apartment complex into a more peaceful place to live. “Westy” is a K5 model patrolling the 1,129-unit Liberty Village apartment complex located just outside Nellis Air Force Base (https://ibn.fm/SR1wE).
Communicating in both English and Spanish, the autonomous security robot provides various security measures including verbal warnings, video recording, license plate reading and a phone-like connection with human security personnel. It has been especially useful in enforcing curfews and deterring vandalism, because “people don’t want to get caught on the cameras so they will avoid it,” according to complex manager Carmen Batiz.
“When we have vandalism reports, we can go through the video and get a time frame of when it happened. It has a button so people can get human help quickly in an emergency,” Batiz further explained.
The approximately nine-acre apartment complex was once in the top three for 911 calls with the Las Vegas Metropolitan Police, but since implementing “Westy,” it has dropped out of the top ten. Batiz said that Liberty Village is one of eight properties managed by the same company, and the encouraging results achieved so far have convinced the organization to implement Knightscope ASRs at other properties in the future.
For more information, visit the company’s website at www.Knightscope.com where security professionals and decision makers can book a private demo and learn how to help better secure the places where people work, live, study and visit.
NOTE TO INVESTORS: The latest news and updates relating to Knightscope are available in the company’s newsroom at https://ibn.fm/Knight
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With the effects of human-influenced global warming becoming more apparent, governments around the world are eager to cut their carbon emissions, especially from the transportation sector. In 2016, transport accounted for 24% of global carbon emissions, and as populations increase and more vehicles traverse the roads, carbon emissions from transport are expected to rise. Zero-emission electric vehicles (“EVs”) have been touted as the best way to clean up our roads, but unfortunately, they are still far too expensive for the average driver.
According to a new survey, buyers in the United States and Europe are more than willing to buy a battery electric vehicle (“BEV”), but the hefty price tag associated with going green prevents most of them from making the switch. If the cost of electric vehicles does not reduce soon, most countries will need to subsidize EVs to hit their greenhouse emission reduction targets. The survey by OC&C Strategy Consultants found that the number of consumers in the U.S. and Europe who are interested in buying an electric vehicle has grown by a wide margin.
The annual survey, which polled more than 7,500 consumers around the world from December to January this year, was exclusively released to Reuters. According to lead author Felicity Latcham, OC&C carried out the study without any external funding. More than half of the consumers polled in Italy, France and the U.S. had an electric vehicle in mind as their next vehicle, while close to half of the respondents in the nation as well as Germany would consider one for their next purchase. In the U.S. and the UK, willingness to purchase an EV increased 61% and 81% respectively.
However, the high cost of most electric vehicles has prevented this willingness from turning into actual sales. The other main issues preventing mass EV adoption are a limited driving range and insufficient public charging stations. However, thanks to developments in battery technology that have increased range coupled with increased investments in charging infrastructure, concerns over range and charging have reduced.
Almost 70% of consumers who said they would buy an EV as their next vehicle stated that they were not willing to pay anything more than a $500 premium compared to a conventional fossil fuel-powered car. But with relatively few governments offering EV subsidies, tax rebates and tax relief, the chances of a premium being offered are slim. Countries that offer EV subsidies such as Norway, Iceland, the UK, and even China, have seen higher rates of EV adoption, with Norway setting the record for most EVs purchased at a whopping 54.3% of all vehicles sold earlier this year.
It is good that companies like Clean Power Capital Corp. (CSE: MOVE) (FWB: 2K6A) (OTC: MOTNF) are investing in alternative energies such as hydrogen fuel cells for vehicles. This will increase the available options that motorists who would like to reduce their carbon footprint can choose from.
NOTE TO INVESTORS: The latest news and updates relating to Clean Power Capital Corp. (CSE: MOVE) (FWB: 2K6A) (OTC: MOTNF) are available in the company’s newsroom at https://ibn.fm/MOTNF
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Gage Growth Corp. (CSE: GAGE) (d.b.a. Gage Cannabis), a leading high-quality craft cannabis brand and operator in Michigan, has announced its participation in three upcoming conferences. The company is committed to innovating and curating the highest-quality cannabis experiences possible for cannabis consumers across the state of Michigan. Gage is also focused on bringing internationally renowned brands to market. The cannabis leader plans on presenting at the Eight Capital Seed to Scale Conference, which is focused on emerging opportunities in U.S. cannabis. That conference is slated for Tuesday, May 4, 2021, at 10 a.m. ET. The company will also be involved in the Canaccord Genuity Cannabis Virtual Conference, scheduled for Tuesday, May 11, 2021, at 12 noon. Gage executives will be part of a panel discussion and will also be involved in virtual one-on-one meetings with conference participants. The company will also be involved in both a fireside chat and presentation at Benzinga’s Global Small Cap Conference, scheduled for Thursday, May 13, 2021.
To view the full press release, visit https://ibn.fm/beuKw
About Gage Cannabis Co.
Gage Cannabis is innovating and curating the highest-quality cannabis experiences possible for cannabis consumers in the state of Michigan and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm’s founding partners have successfully built and grown operations with federal and state licenses, including cultivation, processing and retail locations. Gage’s portfolio includes city and state approvals for 19 Class C cultivation licenses, three processing licenses and 13 provisioning centers (dispensaries). For more information, visit the company website at www.GageUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to GAGE are available in the company’s newsroom at http://ibn.fm/GAGE
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Last week, a federal health agency begun a speaker series that will be focused on reviewing the science behind psilocybin mushrooms and the therapeutic potential they possess. Experts who aired their views at the inaugural event claimed that federal drug regulations undermined the scientific community’s research objectives and weren’t in line with what the voters wanted.
The event is being hosted by the National Cancer Institute, under the National Institutes of Health (“NIH”). The institute notes that it has some clinical trials looking into the use of psilocybin as a treatment of cancer-related depression, with others exploring the psychedelic’s potential application as a treatment of various psychiatric disorders. This, the institution adds, is despite the fact that federal laws classify the substance as a Schedule 1 substance.
The National Cancer Institute also revealed that it was organizing a Psilocybin Research speaker series, which begin occur over the coming weeks.
The series has two main objectives: first, to provide evidence-based and time-sensitive scientific information of this substance, using expert speakers from the government, academia and scientific communities; and second, to identify research opportunities and gaps as well as evaluating the current state of the science.
The initial event featured Johns Hopkins University and UCLA professors leading various presentations, among them one on psilocybin use in end-of-life care.
UCLA’s Dr. Charles Grob discussed the need for better funding for psychedelic research as well as increased diversity among those who took part in the studies. Grob also stated that while measures of decriminalization continued being approved in various states across the country, it was still important that public education programs be introduced. These programs would focus on the safe use of psychedelics in states that decided to loosen criminal penalties or approve decriminalization laws.
Another professor, Johns Hopkins University’s Dr. Roland Griffiths, noted that the Schedule 1 classification of psilocybin made both preclinical and clinical research much more difficult to conduct. He explained that to work with a Schedule 1 compound, researchers had to obtain a DEA license and jump through various hoops, which may have discouraged some.
Psychedelic substances are gaining more attention around the country as a national movement calling for an end to the criminalization of substances that show considerable therapeutic potential grows.
Among the latest iterations of the national psychedelics reform movement, which has grown significantly since 2019 when Denver decriminalized psilocybin mushrooms, are those taking place in Washington D.C., Ann Arbor, Santa Cruz and Oakland, which have decriminalized the possession of fungi and plant-based psychedelics.
The fact that federal agencies in the United States are beginning to take a keen look at psychedelics is a possible source of encouragement to sector players such as Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) because it offers hope that a change in federal policy will one day be made, and regulatory impediments will be eased.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) are available in the company’s newsroom at https://ibn.fm/CYBN
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- Beijing-based Infobird has built rich experience in the customer engagement industry that covers SaaS solutions such as cloud call center, intelligent telemarketing, AI Chatbots, and has now closed its IPO on the NASDAQ exchange.
- Infobird’s artificial intelligence (“AI”) solutions help clients to minimize costs and maximize potential revenues.
- The company’s self-developed cloud-native architecture and patented AI technologies work with a no-code development platform to help companies focus their efforts and financial outlays where they are most needed.
B2B artificial intelligence (“AI”) solutions company Infobird (NASDAQ: IFBD) is building next-level operations in tandem with the Beijing, China-based company’s April 20 IPO debut on The Nasdaq Capital Market (https://ibn.fm/TPyf7).
Infobird has built a reputation as a premier provider of customer engagement SaaS solutions in China that use automated and smart solutions to maximize value for its clients through reduced corporate costs that don’t impinge on the clients’ ability to generate and increase revenues.
The company’s self-developed cloud cloud-native architecture and patented AI technologies, for example, work with a no-code development platform that allows enterprise-building companies to focus on managing their operations as they know best, while relying on the technological expertise of application builders for only the most necessary development efforts, likewise enabling the automation of AI-empowered call center features to handle many of the routine and repetitive functions that human personnel might otherwise be needed for in large numbers.
Infobird is one of the first enterprises to apply intelligent technology to customer service industry. Over the past decade, the company has built a client base of over 10,000 paid user accounts from 358 customers in finance, education, public services, consumer products and health care. While its primary focus is on key corporations in the finance industry, it has served clients from other industries as well, such as e-commerce giant Alibaba (NYSE: BABA).
As one of the leading software-as-a-service (SaaS) providers in China, Infobird uses a highly successful business model in which centrally hosted software is licensed to customers via a subscription plan that not only generates recurring revenue but also opens wide channels of ancillary revenue streams. The SaaS sector has experienced significant growth in recent years and China is now the second-largest market in the world for cloud infrastructure spending.
During the past 20 years, Infobird has continually expanded its technological boundaries, acknowledging that the “intelligence” of intelligent customer service cannot be realized by a single technology and must instead depend on the interaction and integration of various technological systems.
With the explosion of big data, AI and other technologies, Infobird has continuously integrated voice recognition, intelligent interaction and other technologies into its product research and development.
By integrating big data, AI, cloud computing, 5G and other technologies, the company can provide smart and value-added solutions for all customer engagement processes and thus empower the enterprises to better interact with their customers, to reduce costs for the operation and ultimately to increase sales revenue.
For more information, visit the company’s website at www.Infobird.com/en/index.html
NOTE TO INVESTORS: The latest news and updates relating to IFBD are available in the company’s newsroom at https://ibn.fm/IFBD
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- Effective Duty of Care plans are supported with Continuous Risk Management programs, and Knightscope Autonomous Security Robots (“ASRs”) can potentially answer these organizational needs
- A K5 named “Westy,” implemented in a Las Vegas Valley apartment complex, has effectively reduced the property’s 911 call rate
- Knightscope technologies are making real-time monitoring efficient across- the-board
- Capabilities can be used for convenient temperature monitoring, which has become a staple in post-pandemic America
In light of the impact 2020 has had across the United States, it has become critically important for companies to prioritize creating a Duty of Care plan, according to a recent Security Magazine interview with Hugh Dunleavy, Senior Vice President, United States Operations and Chief Security Officer of Crisis24, a GardaWorld company (https://ibn.fm/RDes1). “Duty of Care” is a legal term that refers to the standard of care considered reasonable that any organization, risk manager, or executive is expected to take to mitigate potential risk to staff members.
Duty of Care has a broad, evolving definition that covers the extended workplace and can include employee training, safety, physical security, awareness, medical and mental health support. In the interview, Dunleavy points out that an effective Duty of Care is supported by a Continuous Risk Management (“CRM”) program intended to support business decisions that mitigate or avoid risk from all the hazards that may impact staff and operations. Organizations must learn and improve incident response.
The critical components CRM supports are:
- Monitoring (timely, effective and accurate intelligence)
- Notification
- Preparation/Avoidance (training, exercises and pre-incident planning)
- Post-Incident Critical After-Actions/Lessons Learned
- Communications
- Response/Recovery
California-based autonomous security robot (“ASR”) manufacturer Knightscope may answer the Duty of Care plan organizations need to have in place for staff and operational needs. Knightscope currently has three ASR models on the market – K1, K3 and K5, all of which can be remotely monitored through the Knightscope Security Operations Center (“KSOC”).
Knightscope’s K1 is a stationary model with indoor/outdoor capability. The standalone unit can be branded to fit the needs of individual organizations. The K1 uses a standard 110v power outlet and transfers data over 4G/5G LTE, Wi-Fi, or Ethernet. K3 is an indoor, fully autonomous robot model that runs 24/7, autonomously recharging itself. This ASR model moves at a maximum speed of 3 mph and is the “smart eyes and ears” of security operations, covering more ground efficiently and consistently.
The K5 is Knightscope’s flagship fully autonomous, self-charging robot suitable for indoor and outdoor use but is primarily used in outdoor settings. It has nearly 1 million hours operating in the field and has already faced its fourth winter. This model moves at a maximum speed of 3 mph and can be used for securing large areas.
The KSOC allows access to the ASRs at any time, from any place, and on any device. The KSOC is a fully functional, browser-based user interface that comes standard with every subscription. Real-time data is accessible around the clock with coverage 24/7/365. KSOC can also keep organizations CDC compliant and detect elevated body temperature with contact-free fever alerts from an optional medical-grade sensor on the K1.
As recently as March 2021, Knightscope ASRs have made the news as an addition to transforming a northeast Las Vegas Valley apartment complex into a more peaceful place to live. “Westy” is a K5 model patrolling the 1,129-unit Liberty Village apartment complex located just outside Nellis Air Force Base (https://ibn.fm/SR1wE).
Communicating in both English and Spanish, the autonomous security robot provides various security measures including verbal warnings, video recording, license plate reading and a phone-like connection with human security personnel. It has been especially useful in enforcing curfews and deterring vandalism, because “people don’t want to get caught on the cameras so they will avoid it,” according to complex manager Carmen Batiz.
“When we have vandalism reports, we can go through the video and get a time frame of when it happened. It has a button so people can get human help quickly in an emergency,” Batiz further explained.
The approximately nine-acre apartment complex was once in the top three for 911 calls with the Las Vegas Metropolitan Police, but since implementing “Westy,” it has dropped out of the top ten. Batiz said that Liberty Village is one of eight properties managed by the same company, and the encouraging results achieved so far have convinced the organization to implement Knightscope ASRs at other properties in the future.
For more information, visit the company’s website at www.Knightscope.com where security professionals and decision makers can book a private demo and learn how to help better secure the places where people work, live, study and visit.
NOTE TO INVESTORS: The latest news and updates relating to Knightscope are available in the company’s newsroom at https://ibn.fm/Knight
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