Archive for August, 2021
- AI models of genomic data can predict cancer outcomes, which can then help personalize ovarian cancer treatments
- Results come from Helomics’ work on the 100,000 Genomes Project in Genomics England’s National Genomic Research Library
- Model learns patterns in genetic mutations of patients’ tumors, uses that knowledge to predict patient survival
In an historic announcement in the space where artificial intelligence and precision medicine intersect, Predictive Oncology (NASDAQ: POAI) has released initial results for its AI-driven models of ovarian cancer (https://ibn.fm/H3As3). According to Predictive Oncology, the initial results demonstrate that AI models of genomic data can predict cancer outcomes which has the potential to help personalize ovarian cancer treatments and drive the discovery of new therapies.
“We are excited to be able to show the impact of using our AI and machine learning approach that leverages complex genomic data to deliver improved, more personalized therapy for ovarian cancer that, worldwide, affects over 300,000 women,” said Predictive Oncology CEO J. Melville Engle. “We are continuing to refine these AI models with the goal of providing highly accurate predictive models of ovarian cancer to help oncologists and drive the development of the next generation precision ovarian cancer therapies.”
The results come from POAI subsidiary Helomics’ work on the 100,000 Genomes Project in Genomics England’s National Genomic Research Library (“NGRL”). Helomics has created a new AI-driven model that predicts post-treatment survival time for ovarian cancer patients. According to the company, these AI models have the potential to not only improve treatment paths for ovarian cancer but also to drive the development of new therapies. POAI noted that official study results will be available as a preprint on Biorxiv in the coming weeks.
To build the model, Helomics used a machine learning approach to extract key genomic features from nearly 500 ovarian cancer participants in the 100,000 Genomes Project. The AI model learned patterns in the genetic mutations of patients’ tumors and then used that knowledge to predict survival time. The model predicted rates with almost 70% accuracy. With that success as a backdrop, Helomics is now focused on refining its AI models to achieve an even greater accuracy for predictions.
The news is notable in the world of oncology because no biomarkers for prognosis and treatment responses in ovarian cancer currently exist, making it difficult for health-care providers to tailor treatments for individual patients. Instead, doctors are forced to choose from a set “menu” of drugs and therapies, observed POAI, a menu that has seen little progress in more than 20 years, even with the significant amount of research devoted to cancer.
Using the predictions of patients’ responses to certain therapies, Helomics’ AI model could assist health-care providers in narrowing down the ovarian cancer treatment options, thereby improving patients’ prognosis and offering clinicians a more efficient and cost-effective precision medicine approach to treatment. These models also give doctors and scientists better insights into which genes are involved in response to treatment, which could lead to the development of new precision medicines.
“We’re delighted that our multiyear partnership with Helomics has resulted in this important research into ovarian cancer — a disease with significant unmet need,” said Parker Moss, chief commercial and partnership officer at Genomics England. “We are incredibly grateful to the around 900 participants in the 100,000 Genomes Project who suffer from ovarian cancer and have made their data available for this ground-breaking research. Genomics England is pleased to have contributed to Helomics’ work through our ovarian cancer dataset, as this has allowed them to validate their discoveries and create predictive models that will advance drug discovery and support ovarian cancer patients and their doctors.”
POAI is bringing precision medicine, or tailored medical treatment using the individual characteristics of each patient, to the treatment of cancer. Through its Helomics division, the Company leverages its unique, clinically validated patient derived (“PDx”) smart tumor profiling platform to provide oncologists with a roadmap to help individualize therapy. In addition, the Company is leveraging artificial intelligence and its proprietary database of more than 150,000 cancer cases tumors to build AI-driven models of tumor drug response to improve outcomes for the patients of today and tomorrow.
For more information, visit the company’s website at www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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NexTech AR Solutions (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality (“AR”) for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events, has unveiled its next-generation ad technology. NexTech Ads offers rich and robust analytics that provide customers with data-driven insights that enable them to capture impressions, clicks, interactions and gain overall AR engagement data. In addition, NexTech customers can deliver compelling, effective 3D ads designed for Google that do not require application download. According to the announcement, the company reported click-through rates (“CTR”) of approximately 5% for 3D ads created with NexTech tools for its Vacuum Cleaner Market (“VCM”); that is compared to a reported average Google CTR of 1.55%.
The upgrade leverages NexTech’s WebXR and is intended to provide a robust AR experience with each ad. “Digital consumers are looking for engaging immersive experiences,” said NexTech CEO Evan Gappelberg in the press release. “The combination of Nextech AR’s 3D model creation at scale with Nextech’s Ad Network now on Google Ads creates an incredibly valuable offering that accelerates our customer’s reach with higher engagement levels. The Google Display Network reaches 90 percent of internet users worldwide, across millions of websites, news pages, blogs and Google sites like Gmail and YouTube.”
To view the full press release, visit https://ibn.fm/bcWTz
About Nextech AR Solutions Corp.
NexTech develops and operates augmented reality (“AR”) platforms that transport three-dimensional (“3D”) product visualizations, human holograms and 360-degree 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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Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, is featured in a report issued by PCG Digital Holdings LLC, an affiliate of PCG Advisory Inc. In the report, PCG noted that “Lexaria, delivering active ingredients to patients, could deliver for investors too.” The report stated that LEXX may be poised for a surge as the company’s DehydraTECH(TM) platform has proven to be an effective way to deliver active ingredients. The release noted that DehydraTECH had shown effectiveness as a hypertension treatment using CBD as well as with various antivirals. In addition, the release reported that DehydraTECH-enabled products are currently available in more than 7,000 retail outlets located throughout the United States and that the “book-to-market ratio suggests a great deal of confidence in management.” PCG observed that “LEXX was on an upward trend and trading around $8.50 per share in mid-July, about a dollar away from a 12-month peak. That momentum gave investors the confidence to exercise another $3.8 million in existing warrants and, with the risk of dilution setting in, the stock price retreated to about $5.50. Considering Lexaria’s market cap is still almost $30 million, maybe a one-third drop in share price is a bit too excessive a reaction compared to only a one-tenth expansion in share dilution. And the company appears to have about $12 million in cash, roughly $2 per share. The fundamentals have only changed for the better over the past few months. The company operates an in-house research laboratory and holds a robust intellectual property portfolio with 21 patents granted and over 50 patent applications pending around the world. The company is vertically integrated with subsidiaries in the hemp, oral nicotine, and pharmaceutical industries. It should also be noted that the July stock price surge came on the news of DehydraTECH’s efficacy in connection with a colchicine, a COVID-19 therapy.”
To view the full press release, visit https://ibn.fm/yBxoy
About Lexaria Bioscience Corp.
Lexaria Bioscience’s proprietary drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The company’s technology can be applied to many different ingestible product formats including foods, beverages, oral suspensions, tablets and capsules. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption of cannabinoids and nicotine by up to 5 to 10 times, reduce time of onset from one to two hours to minutes, and mask unwanted tastes; the technology is planned to be further evaluated for orally administered bioactive molecules including anti-viral drugs, vitamins, nonsteroidal anti-inflammatory drugs (NSAIDs) and more. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 21 patents granted and more than 50 patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com.
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Electrification is inevitable. Thanks to electric vehicle (“EV”) mandates and carbon emission standards, we will see electric cars steadily replace conventional vehicles on our roads until we eventually phase out the sale of new internal combustion engine (“ICE”) vehicles in the next couple of decades. Unfortunately, progress is slow in this segment, and players in the EV sector have turned their sights to one of the biggest spenders in the country: the U.S. Army.
To be fair, the Army seems to have given plenty of thought to electric vehicles. JP-8 has been the Army’s go-to fuel for quite a while, but it has recently been looking for alternative fuels. Theoretically, the service is in the perfect position to electrify its fleets, with a large checkbook to finance the whole thing and existing bases to install electric chargers. With EV makers turning to larger electric vehicles, they would be able to supply vehicles that could theoretically meet the army’s needs.
However, due to the Army’s unique activities, especially its penchant for going to extreme, far-flung destinations such as deserts, there are a lot of considerations. The service has not yet provided funding for research into electric infantry vehicles, so for the moment, auto makers looking to supply the Army’s fleets will have to handle research and development on their own dime. In June, for instance, General Motors subsidiary GM Defense introduced its new U.S. Army Infantry Squad to several army officials at its Michigan-based Milford Proving Grounds.
Auto makers aren’t looking to develop electrified versions of combat vehicles such as Abrams tanks, Bradley Infantry fighting vehicles and Stryker Combat vehicles. Given how much electric power would be needed to power these vehicles due to their immense size and weight, it just wouldn’t be feasible at the moment to make those vehicles electric. On the bright side, tactical fleets would be more amenable to electrification, but again, thanks to where the Army goes and what it does, there will be strict considerations.
For starters, how would vehicles out on the battlefield recharge? Michael Cadieux, the director of the Army’s Combat Capabilities Development Command’s Ground Vehicle Systems, says infantry EVs would have to either bring extra power with them or have it delivered to the battlefield. Plus, these EVs would have to be able to withstand extreme combat environments such as extreme temperatures, enemy weaponry and even shrapnel. Additionally, infantry EVs would have to carry a ton of heavy armor and mission packages, which would increase power consumption.
Cadieux says the Army has invested around $75 million on battery and electrification technology in the last five years. Financial year 2022 will see the service invest $50 million more in developing electric and mobility technology. If experts are able to clear the hurdles that are currently slowing down the development of electric vehicles for the U.S. Army, we may see EV makers unveil EVs for combat situations in the future.
That future may not be so far off, especially with many companies such as Ideanomics Inc. (NASDAQ: IDEX) investing in different segments of the EV industry so that the uptake of this new form of vehicular transport is accelerated.
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
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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), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, has reported its Q2 2021 operating and financial results for the period ended June 30, 2021. Highlights of the report included revenues for the quarter totaling $33.2 million with gross profit reaching $9.3 million, and $396 million in cash at quarter end that provides capital for investment in the company’s Mobility and Capital business units. The report also noted key operational highlights, including the fact that Ideanomics offers the only EV tractor that is made in America and that recent acquisition US Hybrid has relocated to new, larger headquarters facility to accommodate the expected increase in commercial demand. In addition, Ideanomics announced that its Capital and Mobility teams have begun working together and that Ideanomics chief scientist Dr. Abas Goodarzi, who joined Ideanomics through the US Hybrid acquisition, received the IEEE PELS Vehicle and Transportation Systems Achievement Award. The company also inked a deal with Treeletrik to supply 200,000 e-motorbikes to Indonesia. Finally, the company subsidiary, Wireless Advanced Vehicle Electrification (“WAVE”) noted that its inductive wireless charging system has been adopted by Twin Transit Authority in Washington; the move is significant as IDEX is working to position WAVE as the “charger of choice.” The company also noted that the increased revenue for the quarter marks the sixth consecutive quarter of growth for the company, and that this quarter reflects first revenues from US Hybrid and a second acquisition, Solectrac. “Ideanomics is executing on what we believe is one of the most compelling, vertically integrated, offerings in the EV sector,” said Ideanomics CEO Alf Poor in the press release. “We have best-in-class, leading technologies, with the talent to leverage our presence in the most significant global markets.”
To view the full press release, visit https://ibn.fm/YfYOx
About Ideanomics Inc.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The 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 the company’s 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 the company’s global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and the company’s shareholders with the opportunity to participate in high-potential, growth industries. For more information about the company, please 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
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Hemp is a cannabis sativa plant species that has long been cultivated for industrial use. Unlike marijuana, it contains low levels of THC, which is the main psychoactive ingredient in marijuana that induces a high.
Hemp is used in many products and materials. For instance, hemp is used in textiles to keep knees in jeans from wearing out because it is stronger than cotton. Some claim that the plant is also stronger than steel, which could explain why electric vehicle and car manufacturers use it to reinforce some vehicle components, such as door panels. A good example of this would be BMW, which uses hemp-based fibers to strengthen its car paneling. Henry Ford also utilized hemp in his car designs.
The plant is also biodegradable and can be used to solve the lumber crisis, as hemp-based materials are more affordable in comparison with wood. Hemp is also more readily available because the plant is harvested annually.
Wood products manufactured from hemp are also said to be more solid and beautiful than products made from timber. Additionally, hemp is used in designing wood paneling and hardwood floors, which saves contractors money in every project and produces a superior product.
Hemp is also pest free and low dust as well as mold, fire and rot resistant. This, among many other reasons, helps explain the growing interest in hemp. However, there are issues that plague this burgeoning industry.
The main barrier is the lack of processing capacity in various regions across the country, which makes it harder for hemp cultivators to ready their harvest for market. At the moment, most growers and farmers have to hang-dry their hemp by hand, which requires expensive and limited labor; harvesting also requires a lot of time and space. This whole harvesting process is also weather sensitive, and growers may have a hard time finding a buyer even after the final product is ready.
This is why in most scenarios, growers have to deal with their buyers directly, which may not always be ideal for a farmer because the hemp infrastructure and supply chain isn’t as developed as the chain for other agricultural crops, such as soybeans or corn.
Some companies have noticed these gaps in the market and are working towards making it easier for farmers to process their product, find buyers and distribute hemp without the hassle. This is in addition to finding ways to make use of every single part of the hemp plant, which will reduce waste. This is what Flora Growth Corp. (NASDAQ: FLGC) is doing by making hemp textiles.
NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC
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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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Flora Growth Corp. (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced its entry into a letter of intent (“LOI”) to acquire 100% of Vessel Brand Inc. Vessel is driving cannabis and wellness industries forward by bringing to market innovative products and experiences that elevate consumer expectations. With its decades of go-to-market experience, unique lineup of high-end dry-herb accessories and vape pen batteries, and bespoke product programs for brands, Vessel is the go-to product line for consumers, multistate operators and brands alike. “As we ramp up production and continue scaling for global growth, we believe that the proposed acquisition of Vessel positions us strategically at an extremely pivotal time. We’re very much looking forward to working with the entire Vessel team, who has a proven history in scaling consumer packaged goods brands and optimizing and executing sales and marketing strategies,” said Luis Merchan, president and CEO of Flora. “Beyond the attractive financial metrics based on Vessel’s high-margin luxury product line, we are adding bench strength and premier talent to capture the many market opportunities around the world as we look to further diversify our innovative product lines and globally recognized brands.”
To view the full press release, visit https://ibn.fm/TDW30
About Flora Growth Corp.
Flora is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.FloraGrowth.ca or follow @floragrowthcorp on social for more information.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at http://ibn.fm/FLGC
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- The company reported revenues of $9.7M, in-line with Q1 2021’s sales while gross profit improved to $2.1M, up 16% quarter over quarter
- Excellon’s production cost per tonne decreased to $273, down 8% quarter over quarter
- The company also increased its exploration expenditures to $1.8M in Q2 2021, with ongoing mining activity at Mexico’s Platosa mine, as well as in their German and Idaho-based sites
Excellon Resources (TSX: EXN) (NYSE American: EXN) (FSE: E4X2), a silver and base metals producer with precious metal projects in Mexico, Idaho and Germany, has recently published their second quarter results for the 2021 fiscal year. The Company reported Q2 2021 revenues of $9.7 million, up from the $0.7 million registered in Q2 2020, while gross profit improved to $2.1 million, a significant improvement from last year when there was a loss of -$2.6 million. Excellon Resources also reported that the company had cash and marketable securities totalling $7.1 million at hand as of June 30, 2021.
Excellon Resources’ strong second quarter results were directly correlated to the robust production numbers generated from the Platosa Mine in Durango, Mexico. Excellon saw silver production of 296,013 ounces, lead production of 1.9 million pounds and zinc production of 2.5 million pounds – in aggregate totalling silver equivalent production of 487,009 ounces. Although comparative results relative to the equivalent period in 2020 were impacted by the suspension of activities in Mexico from April 2, 2020 to June 1, 2020 on account of the COVID-19 outbreak, the second quarter of 2021 marked the fourth consecutive quarter of over 21,000 tonnes mined and milled.
“Platosa delivered a fourth consecutive quarter of production at historically high productivity rates,” stated Brendan Cahill, President & CEO of Excellon Resources (https://ibn.fm/eE7Hs). “We continue to see room for improvement, with our ongoing work to improve recoveries at Miguel Auza and, additionally, a sizeable inventory of ore and concentrate at quarter-end due to mill maintenance and weather conditions in late June.”
In addition to the high productivity rates witnessed within the company’s operations, Excellon Resources were simultaneously able to reduce their marginal cost of extraction. Production cost per tonne decreased to $273 per tonne, a decline of 8 percent relative to the first quarter of 2021, with the all-in sustaining cost per silver ounce payable decreasing to $26.69 per ounce (https://ibn.fm/KPgIy).
Exploration expenditures rose by 597 percent year over year and by 80 percent quarter over quarter to $1.8 million as drilling operations continued to ramp up across various sites. Excellon Resources has recently commenced the process of drilling and adding a second rig at the Silver City site in Germany’s Saxony following the approval of the 2021 drilling operation plan, and it has looked to expand surface and underground drilling operations on multiple targets within the Platosa Mine property. Additionally, the company has commenced drilling at the Oakley Project in conjunction with Centerra Gold Inc.
“The operation delivered good improvements in cost-per-tonne and cash costs, while AISC was higher in the quarter due to sustaining capital expenditures, a part of which had been deferred from earlier periods,” stated Cahill. “Most importantly, we continued to ramp-up exploration on our projects, with Platosa ongoing and Silver City and Oakley getting started. We look forward to drilling results from our resource growth and discovery-focused projects through the remainder of the year.”
For more information, visit the company’s website at www.ExcellonResources.com.
NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at https://ibn.fm/EXN
About MiningNewsWire
MiningNewsWire (MNW) is a specialized communications platform focused on developments and opportunities in the global resources 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, MNW 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, MNW brings its clients unparalleled visibility, recognition and brand awareness. MNW is where news, content and information converge.
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A recent survey reported that four out of every five Canadians are in favor of the therapeutic use of psilocybin for individuals who suffer from a terminal condition; those respondents urge the government to establish a regulatory framework to allow its use in these circumstances.
The poll was carried out by Nanos Research and commissioned by the Canadian Psychedelic Association (“CPA”). For the survey, more than 1,000 Canadian adults were interviewed between June 30, 2021, and July 5, 2021.
More than 75% of the survey’s respondents stated that they supported the establishment of a legal regulatory model to facilitate the treatment, with 82% stating that they were in favor of psilocybin-assisted therapy for individuals with terminal ailments. Nearly 65% also stated that the psychedelic substance should be made available to patients who were eligible for its use under the Medical Assistance in Dying (“MAID”) rules.
CPA revealed that the next step would be to introduce its Memorandum of Regulatory Approval to parliament, as discussions with lawmakers signal support for the effort to regulate the therapeutic use of psilocybin for these patients. In a press release, CPA’s executive director Cory Firth stated that the memorandum was compiled by the best regulatory, legal and industry experts as well as researchers in Canada.
Psychedelics researcher Pamela Kryskow stated that the new survey results served as a go-ahead for Health Canada to pursue the psychedelic’s regulation. She explained that the proof of the substance’s therapeutic benefit was in both patient improvement and research, as a lot of positive clinical evidence has been reported which demonstrates that psilocybin-assisted therapy works very well in addressing various mental health conditions when other options aren’t as effective.
Thus far, Patty Hajdu, Canada’s Minister of Health, has granted the requests of some patients in end-of-life care to use the psychedelic for psychotherapy, with an official revealing that Canada would also permit some health-care professionals to consume and possess magic mushrooms to study them to evaluate and identify the potential for better treatment of patients.
Almost 70% of the survey’s respondents agreed that patients who suffer from post-traumatic stress disorder should be able to receive psilocybin therapy as treatment.
Canada has a 9.2% prevalence rate for PTSD, with estimates showing that more than 70% of Canadians have been exposed to at least one traumatic experience in their lifetime. Additionally, in comparison to 7% of Canadians who stated that they wouldn’t support politicians who supported the use of psilocybin-assisted therapy, about 20% revealed that they’d most likely support politicians who did.
This huge support for psychedelic therapy legalization shows Canada may be ahead of other countries in regard to progress in psychedelic policy reform. It is no wonder that many of the companies that have made significant steps in developing psychedelic medicines, such as Cybin Inc. (NEO: CYBN) (NYSE American: CYBN), are based in Canada.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) are available in the company’s newsroom at https://ibn.fm/CYBN
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Cybin (NEO: CYBN) (NYSE American CYBN), a biotechnology company focused on progressing psychedelic therapeutics, has filed a nonprovisional patent application in support of its ongoing drug candidate programs. The company noted that it had completed a favorable international search report regarding its May 2021 Patent Cooperation Treaty (“PCT”) application; as a result, it filed the U.S. nonprovisional application claiming priority to the May 2021 PCT application. The company noted that the International Patent Searching authority had written an opinion supporting novelty, inventive steps and industrial applicability to multiple claims within Cybin’s patent filing, including claims to compositions and methods that support elements of the company’s preclinical and research programs. In addition Cybin shareholders elected a new member to its board of directors during the company’s Aug. 6, 2021, annual and special meeting of shareholders. Theresa Firestone, a senior healthcare executive with an impressive background in retail, pharmaceutical, health and wellness, government and global restructuring, will be Cybin’s newest board member. The company also noted the results for other items voted on during the meeting, which had 53 shareholders in attendance in person or by proxy. Regarding the patent application, Cybin CEO Doug Drysdale stated the following in the press release: “Cybin’s portfolio now consists of 14 patent filings, 50-plus proprietary molecules, 50-plus preclinical studies, 4 active drug programs targeting major depressive disorder, alcohol use disorder, anxiety and therapy resistant psychiatric disorders. We continue to progress our IP portfolio across novel molecules, delivery mechanisms, processes and protocols as we continue to find new and novel discoveries through our preclinical findings thus expanding and strengthening IP.”
To view the full press releases, visit https://ibn.fm/Apqzb and https://ibn.fm/f0Uyx
About Cybin Inc.
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at http://ibn.fm/CYBN
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- It has become known that COVID-19 patients can present with neurological symptoms, but new comprehensive cross-country study indicates that it could be more prevalent than previously thought
- This could represent enormous challenge to healthcare as it needs to prepare for immediate and longer-term rehabilitation care of these patients
- Brain Scientific is committed to remaining at forefront of brain diagnostics, potentially offering solution to higher need for neurological care of COVID-19 patients
Brain Scientific (OTCQB: BRSF), a commercial-stage health care company on a mission to modernize brain diagnostics, could be the one offering solution to the rising challenge global healthcare systems face in the post-Covid world. As scientists are starting to collect more and more data, they can decipher both immediate and longer-term consequences of SARS-CoV-2 infection. Research has been mounting demonstrating that some infected patients suffer from neurological symptoms, including memory loss, stroke, and other effects on the brain (https://ibn.fm/CM7uW). However, the new comprehensive cross-country study recently published in the Journal of Neurology, Neurosurgery, and Psychiatry reveals that neurological symptoms may actually be the norm rather than an exception (https://ibn.fm/s3uJw).
A new systematic review and meta-analysis conducted by University College London examined 215 COVID-19 studies across 30 different countries involving 105,638 symptomatic COVID-19 patients from January to July 2020. The research team was expecting to find neurologic and psychiatric findings to be more common in severe COVID-19. Instead, they found that some of these symptoms appeared to be more common in mild cases, indicating that COVID-19 affecting the brain could be the norm, rather than the exception as previously thought.
The study also demonstrates no clear link of these symptoms to systemic or respiratory symptoms. According to the authors, the most prevalent neurological symptoms actually occurred more frequently in patients with less severe COVID-19. This finding could indicate that neurological symptoms are not necessarily correlated with systemic or respiratory symptoms.
As we learn more about COVID-19, it is becoming increasingly clear that neurological care in the post-Covid world will be crucial. In the words of the authors, with millions of people infected globally, even the rarer symptoms could affect considerably more people than in normal times. Due to the sheer scale of the pandemic, this could potentially represent a massive challenge to healthcare systems that need to prepare both for the immediate care of these patients and their longer-term rehabilitation needs. In an environment like this, Brain Scientific’s next-generation technological solutions for the neurology market could become critical as they offer EEG testing to be deployed rapidly and accurately in children and adults alike. The company’s two FDA-cleared devices, NeuroCap(TM) and NeuroEEG(TM), allow quick and reliable EEG testing in minutes and by any healthcare worker, not only specialized neurological technicians, bringing brain diagnostics to settings where it was previously impossible or difficult to conduct neurological testing.
For more information, visit the company’s website at www.BrainScientific.com/Invest-Now.
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AnPac Bio-Medical Science (NASDAQ: ANPC), a biotechnology company with operations in China and the United States, has appointed life-sciences veteran and biomedical scientist Dr. Sunil Pandit as its new U.S. CEO; the appointment is effective as of Aug. 16, 2021. The company noted that Pandit will lead AnPac Bio’s U.S. research and development efforts, as well as ANPC’s commercialization efforts to drive adoption and growth of its Cancer Differentiation Analysis (“CDA”) technology. CDA is ANPC’s flagship product for cancer screening and early detection. Pandit has more than two decades of experience with leading precision medicine strategies, molecular and companion diagnostic approaches and technologies in the pharmaceutical and diagnostics industries. Pandit has served in positions of increasing responsibility at major diagnostics and pharmaceutical companies including Janssen Diagnostics, Siemens Healthcare Diagnostics, National Institutes of Health and GlaxoSmithKline; he also has seven granted patents and has received numerous awards and honors throughout his career. ANPC also noted that Pandit has successfully managed complex projects and boasts a strong track record in delivering in-vitro diagnostic (“IVD”) products to the marketplace. A licensed CLIA laboratory director, Pandit will continue to serve as AnPac Bio’s laboratory director for its CLIA-certified laboratory. “I warmly welcome Dr. Pandit to our management team,” said AnPac Bio chairman of the board Dr. Chris Yu in the press release. “His academic background, extensive life science work experience, including diagnostic product development, strong program management and commercialization experience at multiple global leading companies will greatly benefit AnPac Bio in our pursuit of U.S. growth and commercialization of CDA technology.”
To view the full press release, visit https://ibn.fm/9VlQn
About AnPac Bio-Medical Science Co. Ltd.
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 142 issued patents as of March 31, 2021. With two certified clinical laboratories in China and one CLIA-registered clinical laboratory in the United States, AnPac Bio performs a suite of cancer screening and detection tests, including Cancer Differentiation Analysis (“CDA”), biochemical, immunological and genomics tests. According to Frost & Sullivan, AnPac Bio ranked third worldwide among companies offering next-generation early cancer screening and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on approximately 41,700 clinical samples as of Dec. 31, 2019. AnPac Bio’s CDA technology platform has been shown in retrospective validation studies to be able to detect the risk of more than 20 different cancer types with high sensitivity and specificity. For more information about the company, visit www.AnPacBio.com
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- Cooperation and partnership discussions: AnPac Bio has reported major corporations in the medical industry include Roche Pharmaceuticals China and Advanced Life Therapeutics Co., Ltd
- AnPac Bio holds 40% minority equity in Advanced Life Therapeutics, performing contract R&D on integrated circuit-based components for cancer treatment medical devices
- AnPac Bio’s board now includes Mr. Chao Feng who has global fortune 500 Companies’ managerial experience as independent director effective July 19, 2021
AnPac Bio-Medical Science (NASDAQ: ANPC), an innovative thought leader and biotechnology company focused on early screening and cancer detection by developing, distributing, and deploying accessible early disease detection devices, announced a cooperation agreement with Roche Pharmaceuticals China, a subsidiary of Roche Holding AG, to explore novel healthcare and medical solutions. The collaboration will leverage both parties’ advantages and resources to work on early cancer screening, diagnosis, and treatment (https://ibn.fm/4PpPO).
AnPac Bio is an early thought leader and innovator in the field of cancer screening, where it has already made notable contributions including as an early thought leader and technology leader of multi-(pan) cancer screening and multi-level and multi-parameter innovation and screening products. By 2014, AnPac Bio announced that the cancer detection technology it developed was capable of screening 16 types of cancer, and was one of the earliest companies to begin marketing a pan-cancer screening and detection test in 2015, when it began commercial operations.
Per the agreement signed by AnPac Bio and Roche, both parties plan to utilize AnPac Bio’s Cancer Differentiation Analysis (“CDA”) cancer detection technology and Roche’s FoundationOne CDx to create a solution that customers with a high cancer risk level as assessed by CDA and later diagnosed with cancer can receive a personalized CDx precision medical test for therapy selection. The parties aim to help benefit the general population while lowering costs and saving patient lives.
Th cancer screening and diagnostic market is expanding, with the number of cancer cases reported worldwide also growing. According to the World Health Organization (“WHO”), there were 135 million cancer patients globally in 2020, with 32 million geographically located in China. The new figures mark a 20 million increase in the number of worldwide cases, 4.7 million of which in China.
The cooperation agreement with Roche comes after AnPac Bio’s agreement with Advanced Life Therapeutics Co., Ltd. The company holds minority equity of 40% in Advanced Life Therapeutics, performing contract R&D on integrated circuit-based components for cancer treatment medical devices (https://ibn.fm/RIHTd). The partnership with Advanced Life Therapeutics is a multi-year contract to design, fabricate, test, and optimize key components of a cancer treatment medical device. AnPac Bio expects to begin generating revenue from this contract R&D project starting Q3 of this year.
AnPac Bio is in the later stages of cooperation and partnership discussions with multiple major corporations in the medical industry aimed at increasing commercial CDA-based cancer test revenue and broadening a new product pipeline for itself and its partners. The agreements with Advanced Life Therapeutics and Roche announced recently.
Effective July 19, 2021, Mr. Chao Feng was named as her successor to take the role of independent director immediately (https://ibn.fm/IDUPZ), with Ms. Lin Yu resigned as the director of AnPac Bio. Having previously worked for two global Fortune 500 companies in China, Mr. Chao Feng served as general manager for Shanghai Zhiruihaochen Information Technology Co., Ltd. since 2019. Additionally, he has been the chairman of the strategy committee of Guangzhou Chengding Robots Co., Ltd. since 2016.
In his role as the new independent director of AnPac Bio, Mr. Feng said, “AnPac Bio has been recognized in the field of early cancer screening and detection, and I’m excited to be a part of the team. I look forward to contributing to AnPac Bio’s future success as a member of its Board and helping the Company in its further development.”
Dr. Chris Yu, CEO and Chairman of the Board for AnPac Bio, welcomed Mr. Feng to the team, praising his experience. “His strong academic background and business management experience, particularly in strategic planning, capital market transactions, and sales, will benefit our Company in our pursuit of long-term growth,” Dr. Yu said.
Through its CDA technology, AnPac Bio aims to tackle multiple aspects and challenges of the cancer screening and diagnostics industry. Using the natural biophysical properties of blood and cellular proteins to discover cancerous environments within the body before the tumors form and being powered by a database of over 200,000 samples and cases, CDA has been able to diagnose and identify pre- and early-stage cancers in patients that were previously diagnosed as cancer-free through traditional methods.
For more information, visit the company’s website at www.AnPacBio.com.
NOTE TO INVESTORS: The latest news and updates relating to ANPC are available in the company’s newsroom at https://ibn.fm/ANPC
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AmpliTech Group (NASDAQ: AMPG), a designer, developer and manufacturer of state-of-the-art communications components for satellite communications, space, telecom (5G and 6G) and defense markets, today announced its financial numbers for the second quarter as well as the first six months of 2021; the company also provided a growth outlook. Second-quarter highlights included an increase of revenue from $660,699 in Q2 2020 to $1,024,410, an increase of 55% over Q2 last year and a 117% increase over last quarter; an order backlog of $2.45 million in contractual hardware and engineering services anticipated for delivery over the next three to six months; and a secured follow-on Low Noise Amplifier (“LNA”) order from a Fortune 500 global defense and aerospace company with shipment expected next quarter and secured $500,000 in orders in July for custom LNAs; those shipments are also expected to go out in the third quarter. Highlights for the year to date include an uplisting to the Nasdaq market, the payment of $1 million in debt, design wins for AmpliTech’s LNA product suite, and the development, product testing and design integration of LNA chipsets. The company also noted that it has expanded its sales and marketing team and is targeting major OEMs as well as system integrators to substantially expand its addressable market. In addition, AMPG established an on-site testing laboratory to accelerate new product development, decrease research and development costs, and ensure quality control. “Our Q2 results reflect initial benefits of our significantly enhanced financial position and the gradual return of customer prospects to more normal planning and procurement activity for projects where our low noise amplifier solutions can deliver game-changing performance and ROI,” said AmpliTech Group president, CTO and CEO Fawad Maqbool in the press release. “Importantly, our financial recapitalization is allowing AmpliTech to engage for the first time with a range of very large customer prospects that were previously out of our reach. We are making strategic investments in product development, sales and marketing, and personnel and infrastructure to better position AmpliTech for hypergrowth opportunities we see across several markets, including satellite communications, the build out of true 5G infrastructure, quantum computing and space exploration. . . . AmpliTech is positioning itself to be a key infrastructure provider to support satellite, 5G and other radio frequency communications infrastructure that will be scaling rapidly to address these growing needs. Given our substantially strengthened financial, product and industry position and the very favorable industry backdrop, we anticipate significant growth potential for our company in the coming years.”
To view the full press release, visit https://ibn.fm/4k0Rr
About AmpliTech Group Inc.
AmpliTech designs, develops and manufactures state-of-the-art radio frequency (“RF”) components for global satellite communications, telecom, space, defense and quantum computing markets as well as systems and component design consulting services. AmpliTech has a 13-plus-year track record of developing high-performance custom solutions to meet the unique needs of some of the largest companies in the global industries that it serves. The company is proud of the unique skills, experience and dedication of its focused team, which enables AMPG to deliver superior solutions, faster time to market, competitive pricing and excellent customer satisfaction and repeat business. For more information about the company, please visit www.AmpliTechInc.com.
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The Company Continues its Strong Growth Surge with $14.1 Million in Revenue, Up 19.6% on a Two-Year Stacked Basis
33 rd Straight Comparable Quarter of Record Sales.
The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”), the country’s largest independent alkaline water company, today announced record revenue of $14.1 million for the fiscal first quarter ended June 30, 2021. The Company filed the corresponding form 10-Q with the SEC on August 16, 2021.
“I’m pleased to announce that in the first quarter of fiscal 2022, The Alkaline Water Company secured a three-year partnership with Shaquille O’Neal and Authentic Brands Group (ABG) in which Shaq will serve as a member of our advisory board and as brand ambassador,” said Richard A. Wright, President and CEO of The Alkaline Water Company. “This quarter also saw record revenue and strong continued growth. Even when compared to last year’s pantry-loading, our first quarter fiscal 2022 was our 33 rd straight comparable quarter of record sales. The momentum from our fourth quarter of fiscal 2021 has carried over into our first quarter fiscal 2022 and led to revenue of $14.1 million, a 5% increase year-over-year, and 19.6% increase on a two-year stacked basis.”
“Fiscal 2022 is shaping up to be a watershed year for The Alkaline Water Company. All the hard work and execution over the last 8 years is coming to fruition and I believe that Alkaline88 ® will be a household name this fiscal year,” continued Mr. Wright.
Fiscal 2022 Key Highlights
- Record Revenue of $14.1, an increase of 19.6% on a two-year stacked basis
- Secured Partnership Agreement with Shaquille O’Neal and Authentic Brands Group.
- Key customer wins and expansion with major retailers, including CVS and Harris Teeter.
- Launched eco-friendly white aluminum bottles nationwide.
- Continued focusing on specific initiatives, including Big Box, Clubs and other non-traditional retailers, E-Commerce, Hospitality, Convenience Stores, International and CBD.
- Alkaline88 ® remains the #1 selling bulk alkaline water nationally.
- Continued to add personnel to strengthen management team in pursuit of strategic growth initiatives.
“We made significant investments in people and business partners, including raw material manufacturers and co-packers, in the first quarter of fiscal 2022 that are supporting our growth,” declared Mr. Wright. “It has been great starting work with Shaquille and ABG on our sales initiatives. Shaq’s extraordinary impact on sales that he’s demonstrated throughout his career has yet to even register for Alkaline88. We’re very excited for what’s to come.”
“Our current growth trajectory can be very clearly seen in industry-backed third-party data, which we anticipate will sharply accelerate with the addition of our marketing campaign centered around Shaq and his proven sales-driving track record. Nielsen data for all US channels for the 13 weeks ending July 17, 2021 show that our dollar sales have increased by 32.5% and unit sales are up 32.4% in the value-added water category. Nielsen total US Food data for the same period shows that we are now the ninth best-selling brand of value-added water by dollar volume, surpassing LifeWtr, a Pepsi product.
“The Catalina Hub360 data also shows that our momentum has continued as for the 4-week period ending August 7, 2021, based on reporting stores, our sales were up 32.7% and our market-share has increased .7% in only a 4-week period.”
Fiscal 2022 Key Operational Highlights
- Advisor and Brand Ambassador Shaquille O’Neal
- Entered into an equity-centric agreement with Shaquille O’Neal and Authentic Brands Group.
- Developed a new product collaboration that we’ve since revealed in Q2, the Shaq Paq, a six-pack of two liters that we will use to target Club, Big Box, and other major retailers.
- The assets for our first ever omni-channel marketing campaign are already in post-production and we’ll start regional testing soon.
- Private placement financing of $5 million led by Company chairman and Shaquille O’Neal.
- International Expansion
- In addition to our recent expansion in Mexico, we’re also now in a distribution agreement with SaluVid, a division of TraFon Group for our products to be sold in Puerto Rico and the rest of the Caribbean. This was brokered by Bellator.
- Increased Production Capacity and Supply Chain Efficiency
- We have entered into contracts with 3 additional co-packers, all of which we expect to be up and running by Labor Day.
- Organic Growth/SKU Expansion in Major Grocers and Drugstores
- We earned SKU expansion and additional shelf space in stores major retailers across the country, including the largest drugstore in the United States and major grocery banners.
- Joined Russell Microcap Index
- At the end of Q1, we were added to the Russell Microcap Index during its yearly reconstitution. Russell indexes are widely used by investment managers and institutional investors for index funds as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes.
- Functional CBD Water
- Our new functional CBD water has been formulated, the packaging and unique freshness technology have been finalized. We expect to begin selling our new line of 6 flavors in the next 60 days.
Fiscal 2022 First Quarter Financial Results (unaudited)
(All amounts are in U.S. dollars)
- For the fiscal first-quarter ended June 30, 2021, recorded record revenue of approximately $14.1 million, an increase of 5% over the prior year’s quarter, which was our best quarter ever at the time.
- Gross profit in the fiscal first quarter was $4.8 million, a slight decrease compared to $4.84 million from the prior year’s quarter.
- Total operating expenses for the fiscal first quarter were approximately $12.1 million, compared to approximately $7.7 million for the prior fiscal year’s first quarter. The difference was due primarily to over $4.2 million of non-recurring expenses associated with corporate sales and marketing and stock compensation, and $1.3 million additional expenses from our supply chain and logistics related to the aftermath of COVID 19.
- Net loss for the fiscal first quarter ended June 30, 2021 was $7.4 million or ($0.08) per share versus a net loss of $3 million or ($0.05) per share in the fiscal first quarter of 2021.
- Cash position of $4.5 million at end of first quarter fiscal 2022.
“We reported a loss of $7.4 million, but this included over $4.2 million of non-recurring expenses associated with corporate sales and marketing and stock compensation, and an unexpected $1.3 million additional expenses from our supply chain and logistics related to the aftermath of COVID-19,” stated Mr. Wright. “As announced last month, we implemented our first ever price increase with our customers, which should partially offset some of the impact these expenses beginning third quarter fiscal 2022.
“It should be noted that many of the non-recurring sales and marketing expenses were planned based on our announced partnership with Shaquille O’Neal and Authentic Brands Group. We see this partnership as a strategic investment in the future growth of our company.”
“Despite some significant one-time expenses, our cash position at the end of the first quarter fiscal 2022 was $4.5 million,” stated Mr. Wright. “We believe our cash position will be stronger at the end of our second fiscal quarter based on anticipated $5 million in funds from a private placement, in which Shaquille O’Neal and our Chairman personally invested, and funds from warrants exercised during the second quarter. Furthermore, we have a $20 million ATM with Roth Capital Partners, from which we have not taken down any money.
“This all gives us confidence in our ability to continue our growth over the next twelve months as we launch our first ever omni-channel marketing campaign converting beverage drinkers everywhere to our Deliciously Smooth™ Alkaline88.”
Fiscal 2022 Outlook and Guidance
“As I’ve said before, our employees and business partners rose to the occasion throughout last year and we have seen significant sales acceleration into fiscal 2022,” continued Mr. Wright. “We delivered to our customers and consumers when they needed us most. The trust and appreciation we earned from our strong performance throughout the pandemic allowed us to continue to see more organic and new-store growth, and an expanding presence in more key channels.
“We’ve recently added key personnel to execute this strategic expansion, including new directors of hospitality and e-commerce. Both have track records that prove their ability to help The Alkaline Water Company reach new heights in their respective channels. We’ve also welcomed our new Chief Marketing Officer, Tom Hutchison, a grocery retail and CPG veteran, who will be leading the company in developing and implementing our marketing strategies.”
“We expect to deliver revenue of $62 million, with an estimated gross profit of approximately $23.5 million. This represents revenue growth of approximately 35% for the full year. We expect our top line to be driven primarily by the momentum we’re carrying forward from a successful 2021, which has resulted in SKU expansion, a gain in traction for our single-serves, and significant organic growth within our existing retail clients. This momentum should also allow us to see expanded distribution to additional retailers throughout the country,” stated David Guarino, Chief Financial Officer of The Alkaline Water Company.
First Quarter Fiscal 2022 Conference Call
The Company will hold a conference call today, Monday, August 16, 2021, at 5:00 PM Eastern Time. This call may include material information not included in this press release.
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Conference Call Details:
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Date: August 16, 2021
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Time: 5:00 PM Eastern Time (ET)
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Dial-in Number for U.S. and Canadian Callers: 877-407-3088
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Dial-in Number for International Callers (Outside of the U.S. and Canada): 201-389-0927
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Conference ID Number: 13722270
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Participating on the call will be the Company’s President and CEO Richard A. Wright and Chief Financial Officer David Guarino, who will discuss operational and financial highlights for the first quarter and the outlook for the rest of fiscal year 2022.
To join the live conference call, please dial into the above-referenced telephone numbers five to ten minutes prior to the scheduled call time.
A replay will be available for one week starting on August 17, 2021, at approximately 10:30 AM (ET). To access the replay, please dial 877-660-6853 in the U.S. or Canada and 201-612-7415 for international callers.
Alkaline88 ® is known for its superior hydration with a perfect 8.8pH balance. The brand was developed to deliver a Deliciously Smooth™ taste that encourages consumers to drink more and fully hydrate. The Company is dedicated to purity, quality, value, and taste. The water’s ingredient deck is simple, easy to understand, and free of buffers. Alkaline88 ionized water contains just two ingredients that customers trust — purified water and Pink Himalayan Rock Salt.
The Alkaline Water Company is The Clean Beverage Company™ making a difference in the water you drink and the world we share.
The Alkaline88 ® flagship brand of premium alkaline water is now available in 75,000 stores across all trades in the U.S. For more information, visit www.thealkalinewaterco.com .
About The Alkaline Water Company:
Founded in 2012, The Alkaline Water Company (NASDAQ and CSE: WTER) is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88 ® , is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 ® delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes and boasts our trademarked label “Clean Beverage.” Quickly being recognized as a growing lifestyle brand, Alkaline88 ® launched A88 Infused™ in 2019 to meet consumer demand for flavor-infused products. A88 Infused™ flavored water is available in six unique all-natural flavors, with new flavors coming soon. In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and to serve as the celebrity brand ambassador for the Alkaline88 ® and A88 Infused™ brands.
To purchase Alkaline88 ® and A88 Flavor Infused products online, visit us at www.alkaline88.com .
To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect with us on Facebook, Twitter, Instagram, or LinkedIn.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the following: statements relating to the Company fiscal 2022 revenue guidance of $62 million, with an estimated gross profit of approximately $23.5 million, representing full-year growth of 29%; the Company’s expectation of the Company’s top line to be driven primarily by the momentum the Company is carrying forward from a successful 2021; this momentum should also allow the Company to see expanded distribution to additional retailers throughout the country; that Fiscal 2022 is shaping up to be a watershed year for The Alkaline Water Company; the Company’s belief that Alkaline88 will be a household name this fiscal year; that Shaq’s extraordinary impact on sales that he’s demonstrated throughout his career has yet to even register for Alkaline88; that the Company is very excited for what’s to come; that the Company’s current growth trajectory can be very clearly seen in industry-backed third-party data which the Company anticipates will sharply accelerate with the addition of its marketing campaign centered around Shaq and his proven sales-driving track record; that the Company will use the Shaq Paq, a six-pack of two liters, to target Club, Big Box, and other major retailers; that the Company will start regional testing for the assets for the Company’s first ever omni-channel marketing campaign; that the Company expects 3 additional co-packers to be up and running by Labor Day; that the Company expects to begin selling its new line of 6 flavors in the next 60 days; that the Company’s first ever price increases with its customers should partially offset some of the impact these expenses beginning third quarter fiscal 2022; that the Company sees the partnership with Shaquille O’Neal and Authentic Brands Group as a strategic investment in the future growth of the Company; that the Company believes its cash position will be stronger at the end of its second fiscal quarter based on anticipated $5 million in funds from a private placement, in which Shaquille O’Neal and the Company’s Chairman personally invested; that this all gives the Company confidence in its ability to continue its growth over the next twelve months as the Company launches its first ever omni-channel marketing campaign; and that additional key personnel have track records that prove their ability to help the Company reach new heights in their respective channels.
The material assumptions supporting these forward-looking statements include, among others, that the Company’s stockholders will approve the private placement completed on July 6, 2021; that the demand for the Company’s products will continue to significantly grow; that the past production capacity of the Company’s co-packing facilities can be maintained or increased; that there will be increased production capacity through implementation of new production facilities, new co-packers and new technology; that there will be an increase in number of products available for sale to retailers and consumers; that there will be an expansion in geographical areas by national retailers carrying the Company’s products; that there will be an expansion into new national and regional grocery retailers; that there will be an expansion into new e-commerce, home delivery, convenience, and healthy food channels; that there will not be interruptions on production of the Company’s products; that there will not be a recall of products due to unintended contamination or other adverse events relating to the Company’s products; and that the Company will be able to obtain additional capital to meet the Company’s growing demand and satisfy the capital expenditure requirements needed to increase production and support sales activity. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, governmental regulations being implemented regarding the production and sale of alkaline water or any other products, including products containing hemp/CBD; the fact that consumers may not embrace and purchase any of the Company’s CBD-infused products; the fact that the Company may not be permitted by the FDA or other regulatory authority to market or sell any of its CBD-infused products; additional competitors selling alkaline water and enhanced water products in bulk containers reducing the Company’s sales; the fact that the Company does not own or operate any of its production facilities and that co-packers may not renew current agreements and/or not satisfy increased production quotas; the fact that the Company has a limited number of suppliers of its unique bulk bottles; the potential for supply-chain interruption due to factors beyond the Company’s control; the fact that there may be a recall of products due to unintended contamination; the inherent uncertainties associated with operating as an early stage company; changes in customer demand and the fact that consumers may not embrace enhanced water products as expected or at all; the extent to which the Company is successful in gaining new long-term relationships with new retailers and retaining existing relationships with retailers; the Company’s ability to raise the additional funding that it will need to continue to pursue its business, planned capital expansion and sales activity; and competition in the industry in which the Company operates and market conditions. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Readers should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents the Company files with the SEC, available at www.sec.gov , and on the SEDAR, available at www.sedar.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210816005652/en/
The Alkaline Water Company Inc.
Jeff Wright
Director of Investor Relations
866-242-0240
investors@thealkalinewaterco.com
Media
Jessica Starman
888-461-2233
jessica@elev8newmedia.com
- Growing numbers of smokers are looking for nontobacco choices
- In 2018, out of the 34.2 million people that smoke in America, 55% tried smoking alternatives
- TAAT offers an experience that mimics the tobacco cigarette experience in taste, smell, touch, sight and sound
The number of adult smokers choosing alternatives to traditional tobacco products is on the rise, according to a recent Grandview Research Report (https://ibn.fm/1JZh2). TAAT(TM) Global Alternatives’ (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP2) is on the forefront of providing tobacco-free, nicotine-free alternatives. The company’s flagship product, TAAT, has been on an impressive trajectory since its launch less than a year ago. The game-changing tobacco-free, nicotine-free alternative was voted Best New Product at the annual HQ Event convention and is now available in hundreds of retail locations around the country, with that number increasing almost daily.
“Technological advancements in the nicotine replacement therapy segment are ongoing, which has led to a rise in the number of people switching to advanced products,” noted the report. “These advancements have a variable range of effectiveness and are accepted in society when compared to traditional cigarettes, thus driving their adoption and boosting the market growth.
“The global nicotine replacement therapy market size was valued at $44.2 billion in 2020 and is expected to expand at a compound annual growth rate (‘CAGR’) of 16.3% from 2021 to 2028,” the report continued. “The growth can be attributed to the growing number of technological advancements and the increasing number of people undergoing nicotine replacement therapy (‘NRT’).” According to Brightview, in 2018, out of the 34.2 million people that smoke in America, 55% tried smoking alternatives.
TAAT is designed so that smokers can enjoy the sensations of smoking, without the worry about tobacco and nicotine. “At TAAT, we understand that smokers aged 21+ don’t just use cigarettes because of the nicotine, as it is often about the rituals, moments, and experience associated with smoking a cigarette,” the company observed (https://ibn.fm/vJJbJ). “TAAT offers the Beyond Nicotine(TM) experience with its Beyond Tobacco base material, which mimics the tobacco cigarette experience in taste, smell, touch, sight, and sound. TAAT offers the choice to reduce nicotine intake without compromising the smoking experience.”
The unique experience that TAAT provides is certainly catching people’s attention. In its first convention appearance since launching in October of last year, TAAT was voted Best New Product and earned the second-highest honor as Best in Show (https://ibn.fm/Ieloz). In addition, after TAAT signed a distribution agreement with a Georgia-based distributor that has a network of approximately 1,200 stores in Georgia, North Carolina, South Carolina and Alabama, the product was on shelves in 71 new retail locations in a matter of only a few weeks, bringing its total store count in the United States to more than 400 as of the beginning of July (https://ibn.fm/uYhBU).
This appears to be only the beginning for the company, which has seen meteoric success in less than a year. “Now that we have been marketing TAAT to smokers aged 21+ in the United States for a matter of several months, much of the groundwork has already been completed in new markets where we’re launching TAAT at retail,” said TAAT CEO Setti Coscarella. “Around the end of Q2 2021, TAAT had already proven popular in Georgia with e-commerce orders and free pack requests to GA shipping addresses amounting to approximately 14% and 20% of the respective numbers for Ohio, where we were actively promoting the product to smokers aged 21+, despite no targeted promotions on the east coast.
“It wasn’t a surprise that our first wholesale shipment to Georgia was completely pre-sold, nor was it a surprise for TAAT to already be carried in over 70 stores in just a few weeks after the shipment arrived,” he continued. “With our production capacity set to expand this month with the new TAAT facilities in Las Vegas, our team has all hands on deck to sustain this momentum.”
TAAT Global Alternatives has developed TAAT, a tobacco-free and nicotine-free alternative to traditional cigarettes available in Original, Smooth and Menthol varieties. TAAT’s base material is Beyond Tobacco, a proprietary blend that undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with Big Tobacco pedigree, TAAT was launched first in the United States in Q4 2020 as the company seeks to position itself in the $814 billion global tobacco industry.
For more information, visit the company’s website at www.TryTAAT.com and www.TAATGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to TOBAF are available in the company’s newsroom at https://ibn.fm/TOBAF
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- Extreme weather events have led to catastrophic conditions across the world, including a 21% YoY increase in US wildfires thus far in 2021
- The situation has led to increased demand for tree, debris clearing services
- Due to extreme heat and ongoing drought, demand for Sustainable Green Team’s end products has seen dramatic increase
In July of 2021, a number of European countries such as Belgium, Germany, Luxembourg and the Netherland were devastated as they were lashed by up to two months’ worth of rain over the course of only two days, on ground which in many cases was “already near saturation” (https://ibn.fm/YjxKG). The floods due to extreme rain events in Western Europe – said to be the worst in a century – have claimed at least 188 lives. Similar extreme climate events have also manifested themselves in North America; California reportedly finds itself in the grips of the worst drought in over 1,200 years while Utah and Nevada have recently witnessed record temperatures. The extreme heat, coupled with a severe and ongoing drought, has led to a 21% year-over-year increase in wildfires—a lamentable situation which in turn has led to record levels of demand for tree and waste disposal services such as those proffered by the Sustainable Green Team (OTC: SGTM), a leading provider of environmentally beneficial solutions for tree and storm waste disposal.
Tree and debris removal has gained increased importance, both to recover sites following catastrophic weather events as well as to prevent future damage. For instance, the City of Malibu’s local government has launched a free, grant-funded fire hazard tree removal and chipper program to help residents prepare for wildfires (https://ibn.fm/c6ArH).
“Brush clearance and removing hazard trees are important ways to create defensible space to make your home more fire resistant, help firefighters stay safe while defending your home, and protect the whole community from wildfires,” said Malibu mayor Paul Grisanti. “Here in Malibu, the next big wildfire is just around the corner, not just in peak wildfire season. So it’s up to us all as individuals and as a community to do everything possible to be ready.”
SGTM’s subsidiary National Storm Recovery LLC specializes in providing customers with tree services and debris hauling as well as removal and bio-mass recycling, among other services. The company operates a vertically integrated model, which allows it to transform natural waste created by wildfires, hurricanes, ice storms and floods into useful organic products that benefit the environment through tree services. These services include debris hauling, biomass recycling, waste removal, mulch manufacturing, packaging and sales, and the production of playground surface material.
The increase in demand for SGTM’s debris clearing services has also coincided with increased demand for the company’s end-products. Sustainable Green Team’s focus on finding environmental solutions for waste products through the manufacture of mulch products has coincided with a greater-than-ever need for such product amidst the record heat wave currently affecting the country. Increasingly, landscape professionals and gardeners are taking advantage of mulch, which helps soil retain moisture and decreases the need for excessive watering (https://ibn.fm/oENLT).
“There are a number of advantages to adding mulch in your garden,” states a recent “Better Homes and Garden” article. “In the summer, mulch helps the soil hold moisture so you don’t have to water as often. In the hot sun, soil also tends to dry out faster and harden. Mulch will help protect the soil from baking in direct sunlight and keep your plants happy” (https://ibn.fm/NLREO).
To learn more about Sustainable Green Team Ltd., view the investor presentation at https://ibn.fm/LsNF9.
NOTE TO INVESTORS: The latest news and updates relating to SGTM are available in the company’s newsroom at http://ibn.fm/SGTM
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The Department of Financial and Professional Regulation in the state of Illinois has revealed that legal cannabis sales in July 2021 broke the state’s record, with more than $125 million in gross recreational receipts. This figure is about $10 million higher than the state’s prior sales record, which was set in May of this year.
This shows that despite the growing economic uncertainty and the ongoing pandemic, Illinois’ popular marijuana program is continuing to prosper.
Data released shows that last month, consumers bought more than 2.8 million individual marijuana items, which is another monthly record. About 69% of the total recreational receipts come from in-state residents, which equates to roughly $85 million. Out-of-state residents made up the remainder of this amount.
Some attribute the boost in sales to out-of-state visitors who came in high numbers for the Lollapalooza music fest, which took place in Chicago. Retailers in the West Loop and River North reported that during that period their sales increased by over 50%. However, sales to residents of the state also saw a substantial increase, growing by more than $6 million, in comparison with June’s sales figures.
It should be noted that these figures aren’t inclusive of medical marijuana sales as they are tracked separately by another agency.
If sales in the state continue increasing, Illinois may rake in more than $1 billion in adult-use cannabis sales by the end of the year, which would mean a substantial increase in revenue for the state. Last year, the state of Illinois reported $205 million in cannabis tax revenue and sold roughly $670 million in marijuana. A report released in May by the state’s Department of Revenue also shows that Illinois brought in more tax revenue from cannabis than alcohol for the first time in 2021’s first quarter.
Cannabis tax revenue in the state is being put to good use, with state officials having recently placed more than $3 million in marijuana-generated funds into street intervention programs in efforts to decrease violence. Additionally, in January, the state announced that it would be distributing $31 million in grants financed by cannabis tax dollars to communities that were disproportionately affected by the war on drugs. These funds are part of the state’s R3 program (Restore, Reinvest and Renew), which was set up under the state’s adult-use marijuana legalization law.
Legislators in the state also recently advanced a bill to the governor’s desk that would create more marijuana business licensing opportunities, which would allow individuals from disproportionately affected communities to take part in the cannabis industry.
The impressive growth seen in the recreational cannabis industry in Illinois is a strong indicator that companies entering the market, including Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), appear to be in an ideal position to thrive in the state.
NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF
About CNW420
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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Nextech (CSE: NTAR) (NEO: NTAR) (OTCQB: NEXCF) (FSE: N29), a provider of virtual and augmented reality (“AR”) experience technologies and services for e-commerce, education, advertising, conferences and events, recently entered an agreement with a multinational company working in the energy and automation space. The deal showcases Nextech’s ability to deliver large-scale, real-world applications of its platform for brand development and measurable return on investment. “The onboarding of another tier 1 customer is a true testament to our sales team and the solutions we offer global enterprises,” Nextech founder and CEO Evan Gappelberg was quoted in a recent article discussing the contract. “For us, partnerships like this are just the tip of the iceberg. Our menu of offerings allows us to land and then expand into these large organizations who recognize the value of partnering with a seasoned and trusted provider focused on customer success.”
To view the full article, visit https://ibn.fm/DPLNW
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 (“VCM”), InfinitePetLife.com (“IPL”) and TruLyfeSupplements.com (“TruLyfe”), as well as VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. 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
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Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multichannel environment including point-of-sale (“POS”), e-commerce and mobile devices, has announced its second-quarter 2021 financial results for the period ended June 30, 2021. A highlight of the report was an increase of net revenue to $33.3 million for the company, compared to $13.7 million for the same period in 2020. The company noted the following revenue figures as well: North American Transactions Solutions revenue totaled $32 million, compared to $13 million for the same quarter in 2020, and International Transaction Solutions revenue increased to $1.3 million, as compared to $0.74 million for the same comparable quarter in 2020. Other financial results included an increase of operating expenses to $3.1 million, as compared to $2.2 million for the same period in 2020; gross margin increased to $3.7 million, compared to $2.2 million for Q2 2020; and an increase of net income per share to $0.21 compared to a net loss in Q2 2020 $0.08 per share. Finally, the report noted that reflected in net income attributable to common stockholders for the quarter ended June 30, 2021, are two nonrecurring other income transactions totaling approximately $1.0 million: $0.4 million for a PPP note debt forgiveness and $0.6 million in late fees due from Mullen in connection with the Mullen merger agreement.
To view the full press release, visit https://ibn.fm/quLtq
About Net Element Inc.
Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the United States and selected emerging markets. For additional information about the company, visit www.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
About InvestorWire
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- Company began trading on July 29, 2021, under KAVL symbol
- CEO is “more enthusiastic than ever about being able to harness Kaival’s exciting potential”
- Kaival has started production of the Bidi(TM) Pouch ahead of anticipated September launch
As of market opening on July 29, 2021, common shares of Kaival Brands Innovations Group (NASDAQ: KAVL), the exclusive global distributor of products manufactured by Bidi Vapor LLC, will be available for trade on The Nasdaq Capital Market under the ticker symbol KAVL (https://ibn.fm/2G1DT). The move is a “monumental milestone” for the company, said KAVL founder and CEO Niraj Patel (https://ibn.fm/WAoeb).
“I am pleased to announce that the company has been approved to begin trading on Nasdaq,” said Mr. Patel. “This event represents another monumental milestone in our company’s short history. We have worked diligently to achieve this goal and are humbled and grateful on the inclusion to the Nasdaq. We are more enthusiastic than ever about being able to harness Kaival’s exciting potential.”
Bidi Vapor’s flagship product, the Bidi Stick, is a one-time use, closed-system, disposable vaping device that is both tamper resistant and recyclable (https://ibn.fm/Qy0NA). The stick is designed to provide satisfying nicotine levels in each drag. The Bidi Stick is sold largely through national convenience store chains; it is also available online through authorized direct retailers as well as the digital convenience store, GoPuff.
Additionally, the company also has started the production of the Bidi(TM) Pouch ahead of an anticipated September launch (https://ibn.fm/S9OQh). The Bidi(TM) Pouch rollout had been delayed because of COVID-based manufacturing and supply chain constraints, so as a result, the company moved manufacturing in-house. The Bidi Pouch offers a proprietary tobacco-free nicotine formulation contained in an easy-to-go plastic can. The pouch is one of few pouch products in the market formulated without utilizing the Swedish Match formula.
“I am pleased to confirm that we expect to take delivery of the pouch-manufacturing machines to our warehouse the end of August and anticipate beginning production in September with our first run expected to yield up to 500,000 cans,” said Patel. “We are excited to launch distribution of the Bidi Pouch and have been working behind the scenes during COVID-based delays to secure initial distribution.”
As the exclusive distributor of Bidi Vapor, Kaival shares Bidi’s mission to provide recreational, non-combusted alternatives for adult cigarette smokers. In those efforts, both companies adamantly oppose illegal underage tobacco use, including electronic nicotine delivery system (“ENDS”) use, by minors. The companies are committed to responsible marketing and advertising targeting adult tobacco users aged 21 and older. Based on that commitment, Kaival requires all of its direct retail partners to sign a wholesaler and direct retailer agreement that ensures that customers will be asked to provide property ID to prove age eligibility.
Based in Grant, Florida, Kaival Brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. The company’s vision is to develop internally, acquire or own, and exclusively distribute these profitable brands with recognizable innovation and superior quality.
For more information on Kaival Brands, visit the company’s website at www.KaivalBrands.com.
NOTE TO INVESTORS: The latest news and updates relating to KAVL are available in the company’s newsroom at http://ibn.fm/KAVL
About InvestorWire
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Infobird (NASDAQ: IFBD), a software-as-a-service (“SaaS”) provider of innovative AI-powered, or artificial intelligence-enabled, customer engagement solutions in China, has unveiled its newest intelligent SaaS product, a WeChat Call Center. This new product marks Infobird’s entry into the private domain traffic space. The new call center is designed to be an integral part Infobird’s standardized SaaS strategy and will assist companies in further developing the value of existing customers through automated and personalized solutions for private domain traffic. Most companies consider private domain traffic as private assets that can be used to stay relevant in the mind of customer, encouraging return and repeat business. With this new offering, Infobird anticipates adding major value by creating new demand and capturing uncontested market space in a cost-effective manner; the company refers to this as blue-market strategy. The new WeChat Call Center combines the benefits of Enterprise WeChat and Call Center to create a new generation of customer interaction platform that integrates artificial intelligence, Robotic Process Automation and other technologies to offer solutions to companies with private domain traffic; those solutions enable companies to retain customers and continue to stimulate their consumption potential.
To view the full press release, visit https://ibn.fm/PLxR1
About Infobird Software Co. Ltd.
Infobird, headquartered in Beijing, China, is a software-as-a-service (“SaaS”) provider of innovative AI-powered, or artificial intelligence-enabled, customer engagement solutions in China. For more information about the company, visit www.Infobird.com.
NOTE TO INVESTORS: The latest news and updates relating to IFBD are available in the company’s newsroom at http://ibn.fm/IFBD
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.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
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– Revenues for the quarter ended June 30, 2021, was $33.2 million and gross profit of $9.3 million
– $396 million cash at quarter end providing a deep pool of capital for investment in our Ideanomics Mobility & Capital business units
– Ideanomics has the only made in America EV tractor in the market at this time
– US Hybrid relocates to new, larger, Headquarters to accommodate the expected commercial demand
– Ideanomics Capital and Ideanomics Mobility teams began working together, changing the business model for our customers from the CapEx to OpEx line, including VaaS, CaaS and Energy as a service (EaaS)
– WAVE announces adoption of its inductive wireless charging system by Twin Transit Authority in Washington
– Ideanomics positions to WAVE to become the “Charger of Choice”
– Dr. Abas Goodarzi, Ideanomics Chief Scientist, Receives IEEE PELS Vehicle and Transportation Systems Achievement Award
– Ideanomics is executing on one of the most compelling, vertically integrated, offerings in the EV sector.
NEW YORK , Aug. 16, 2021 — Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), a global company focused on driving the adoption of commercial electric vehicles and associated energy services, announced today its second quarter 2021 operating results for the period ended June 30, 2021 (a full copy of the Company’s quarterly 10-Q report is available at www.sec.gov ).
Conference Call: Ideanomics’ management, including Alf Poor (Chief Executive Officer), Conor McCarthy (Chief Financial Officer), Kristen Helsel (Chief Revenue Officer) and Tony Sklar (SVP of Investor Relations), will host live an earnings release conference call at 4:30 pm ET , Monday, August 16, 2021 . Time permitting, Ideanomics management will answer questions during the live Q&A session. A replay of the earnings call will be available soon after the conclusion of the event.
To join the webcast, please visit the ‘Events & Presentations’ section of the Ideanomics corporate website ( http://www.ideanomics.com/ ), or copy/paste this link: https://78449.themediaframe.com/dataconf/productusers/ssc/mediaframe/45816/indexl.html
“Ideanomics is executing on what we believe is one of the most compelling, vertically integrated, offerings in the EV sector.” said Alf Poor , CEO of Ideanomics. “We have best-in-class, leading technologies, with the talent to leverage our presence in the most significant global markets.”
Selected Business Updates and Highlights
- People
- Kristen Helsel joins as Chief Revenue Officer
- Dr. Abas Goodarzi joins as Chief Scientist via US Hybrid acquisition
- Significant Deals
- WAVE’s inductive chargers to power Twin Transit Authority in WA State
- Treeletrik signs deal to supply 200,000 E-Motorbikes to Indonesia
- Technology & Product
- US Hybrid acquisition – Hydrogen Fuel Cells, Vehicle Integration, DC DC and other components
- Solectrac acquisition – EV tractor with battery swapping
Ideanomics Second Quarter 2021 Operating Results
Revenue for the quarter was $33.2 million which represents the sixth consecutive quarter of growth demonstrating the increasing strength of Ideanomics’ business. This quarter includes the first revenues from US Hybrid and Solectrac. Both of these businesses were acquired late in the second quarter and consequently their financial results are only included from the date of acquisition. Revenue from Electric Vehicles was $6.1 million up from $0.7 million in the second quarter of 2020. Revenue from charging, batteries and powertrains was $2.7 million , there were no revenues in this category in the corresponding quarter in 2020.
Gross Profit
Gross profit for the second quarter was $9.3 million which represented a Gross Margin of 28%. Gross profit for the second quarter of 2020 was $0.3 million .
About Ideanomics
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under an 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 offer shareholders the opportunity to participate in high-potential growth industries.
Safe Harbor Statement
This press release contains certain statements that may include “forward looking statements”. All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov.. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investor Relations and Media Contact
Ideanomics,Inc.
Tony Sklar , SVP of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018.
Email: ir@ideanomics.com
Jeremy Ertl
Skyya for Ideanomics
507-458-9404
jeremy@skyya.com
|
IDEANOMICS, INC.
|
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD in thousands)
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
June 30, 2021
|
|
June 30, 2020
|
|
June 30, 2021
|
|
June 30, 2020
|
|
Revenue from sales of products (including from a related party of $1, $7, $2 and $7 for the three and six months ended June 30, 2021 and 2020, respectively)
|
$
|
7,410
|
|
|
$
|
4,585
|
|
|
$
|
11,957
|
|
|
$
|
4,588
|
|
|
Revenue from sales of services
|
25,807
|
|
|
107
|
|
|
53,969
|
|
|
482
|
|
|
Total revenue
|
33,217
|
|
|
4,692
|
|
|
65,926
|
|
|
5,070
|
|
|
Cost of revenue from sales of products (including from a related party of $4 ,$2, $11 and $2 for the three and six months ended June 30, 2021 and 2020, respectively)
|
6,591
|
|
|
4,323
|
|
|
10,945
|
|
|
4,325
|
|
|
Cost of revenue from sales of services
|
17,325
|
|
|
114
|
|
|
34,838
|
|
|
446
|
|
|
Total cost of revenue
|
23,916
|
|
|
4,437
|
|
|
45,783
|
|
|
4,771
|
|
|
Gross profit
|
9,301
|
|
|
255
|
|
|
20,143
|
|
|
299
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
Selling, general and administrative expenses
|
13,076
|
|
|
6,725
|
|
|
25,081
|
|
|
12,552
|
|
|
Research and development expense
|
235
|
|
|
—
|
|
|
245
|
|
|
—
|
|
|
Professional fees
|
7,439
|
|
|
2,372
|
|
|
12,607
|
|
|
4,128
|
|
|
Impairment losses
|
—
|
|
|
6,200
|
|
|
—
|
|
|
7,088
|
|
|
Change in fair value of contingent consideration, net
|
(2,402)
|
|
|
746
|
|
|
(1,907)
|
|
|
1,279
|
|
|
Litigation settlement
|
—
|
|
|
—
|
|
|
5,000
|
|
|
—
|
|
|
Depreciation and amortization
|
1,635
|
|
|
481
|
|
|
2,763
|
|
|
957
|
|
|
Total operating expenses
|
19,983
|
|
|
16,524
|
|
|
43,789
|
|
|
26,004
|
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
(10,682)
|
|
|
(16,269)
|
|
|
(23,646)
|
|
|
(25,705)
|
|
|
|
|
|
|
|
|
|
|
Interest and other income (expense):
|
|
|
|
|
|
|
|
|
Interest expense, net
|
(563)
|
|
|
(8,890)
|
|
|
(980)
|
|
|
(12,047)
|
|
|
Equity in loss of equity method investees
|
(358)
|
|
|
(12)
|
|
|
(417)
|
|
|
(15)
|
|
|
Loss on disposal of subsidiaries, net
|
(1,234)
|
|
|
—
|
|
|
(1,446)
|
|
|
—
|
|
|
Conversion expense
|
—
|
|
|
(2,266)
|
|
|
—
|
|
|
(2,266)
|
|
|
Gain on remeasurement of investment
|
2,915
|
|
|
—
|
|
|
2,915
|
|
|
—
|
|
|
Other income (expense, net)
|
990
|
|
|
1,015
|
|
|
988
|
|
|
989
|
|
|
Loss before income taxes and non-controlling interest
|
(8,932)
|
|
|
(26,422)
|
|
|
(22,586)
|
|
|
(39,044)
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense)
|
(1,061)
|
|
|
—
|
|
|
11,855
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
(9,993)
|
|
|
(26,422)
|
|
|
(10,731)
|
|
|
(39,044)
|
|
|
|
|
|
|
|
|
|
|
Deemed dividend related to warrant repricing
|
—
|
|
|
(184)
|
|
|
—
|
|
|
(184)
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to common shareholders
|
(9,993)
|
|
|
(26,606)
|
|
|
(10,731)
|
|
|
(39,228)
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to non-controlling interest
|
203
|
|
|
28
|
|
|
367
|
|
|
300
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to IDEX common shareholders
|
$
|
(9,790)
|
|
|
$
|
(26,578)
|
|
|
$
|
(10,364)
|
|
|
$
|
(38,928)
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per share
|
|
|
|
|
|
|
|
|
Basic
|
$
|
(0.02)
|
|
|
$
|
(0.15)
|
|
|
$
|
(0.03)
|
|
|
$
|
(0.23)
|
|
|
Diluted
|
$
|
(0.02)
|
|
|
$
|
(0.15)
|
|
|
(0.03)
|
|
|
$
|
(0.23)
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding:
|
|
|
|
|
|
|
|
|
Basic
|
433,098,279
|
|
|
180,034,278
|
|
|
412,230,966
|
|
|
168,946,960
|
|
|
Diluted
|
433,098,279
|
|
|
180,034,278
|
|
|
412,230,966
|
|
|
168,946,960
|
|
|
IDEANOMICS, INC.
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD in thousands)
|
|
|
June 30, 2021
|
|
December 31, 2020
|
|
ASSETS
|
|
|
|
|
Current assets:
|
|
|
|
|
Cash and cash equivalents
|
$
|
395,642
|
|
|
$
|
165,764
|
|
|
Accounts receivable, net
|
4,039
|
|
|
7,400
|
|
|
Available-for-sale security
|
15,360
|
|
|
—
|
|
|
Inventory
|
3,573
|
|
|
—
|
|
|
Prepaid expenses
|
12,069
|
|
|
2,629
|
|
|
Amount due from related parties
|
294
|
|
|
240
|
|
|
Other current assets
|
1,291
|
|
|
3,726
|
|
|
Held for sale assets (Fintech Village)
|
7,068
|
|
|
—
|
|
|
Total current assets
|
439,336
|
|
|
179,759
|
|
|
Property and equipment, net
|
1,058
|
|
|
330
|
|
|
Fintech Village
|
—
|
|
|
7,250
|
|
|
Intangible assets, net
|
107,352
|
|
|
29,705
|
|
|
Goodwill
|
104,193
|
|
|
1,165
|
|
|
Long-term investments
|
32,457
|
|
|
8,570
|
|
|
Operating lease right of use assets
|
12,423
|
|
|
7,117
|
|
|
Other non-current assets
|
1,232
|
|
|
516
|
|
|
Total assets
|
$
|
698,051
|
|
|
$
|
234,412
|
|
|
|
|
|
|
LIABILITIES, CONVERTIBLE REDEEMABLE PREFERRED STOCK, REDEEMABLE NON-CONTROLLING INTEREST AND EQUITY
|
|
|
|
|
Current liabilities
|
|
|
|
|
Accounts payable
|
$
|
8,456
|
|
|
$
|
5,057
|
|
|
Deferred revenue
|
1,707
|
|
|
1,129
|
|
|
Accrued salaries
|
5,710
|
|
|
1,750
|
|
|
Amount due to related parties
|
1,111
|
|
|
882
|
|
|
Other current liabilities
|
8,210
|
|
|
1,920
|
|
|
Current portion of operating lease liabilities
|
1,940
|
|
|
430
|
|
|
Current contingent consideration
|
11,712
|
|
|
1,325
|
|
|
Promissory note-short term
|
1,228
|
|
|
568
|
|
|
Convertible promissory note due to third parties
|
81,244
|
|
|
—
|
|
|
Asset retirement obligations
|
4,653
|
|
|
—
|
|
|
Total current liabilities
|
125,971
|
|
|
13,061
|
|
|
Asset retirement obligations
|
—
|
|
|
4,653
|
|
|
Deferred tax liabilities
|
2,971
|
|
|
—
|
|
|
Operating lease liability-long term
|
10,530
|
|
|
6,759
|
|
|
Non-current contingent consideration
|
4,637
|
|
|
7,635
|
|
|
Other long-term liabilities
|
1,284
|
|
|
535
|
|
|
Total liabilities
|
145,393
|
|
|
32,643
|
|
|
Commitments and contingencies (Note 18)
|
|
|
|
|
Convertible redeemable preferred stock and Redeemable non-controlling interest:
|
|
|
|
|
Series A – 7,000,000 shares issued and outstanding, liquidation and deemed liquidation preference of $3,500,000 as of June 30, 2021 and December 31, 2020
|
1,262
|
|
|
1,262
|
|
|
Redeemable non-controlling interest
|
7,716
|
|
|
7,485
|
|
|
Equity:
|
|
|
|
|
Common stock – $0.001 par value; 1,500,000,000 shares authorized, 466,354,487 shares and 344,906,295 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively
|
466
|
|
|
345
|
|
|
Additional paid-in capital
|
894,285
|
|
|
531,866
|
|
|
Accumulated deficit
|
(357,245)
|
|
|
(346,883)
|
|
|
Accumulated other comprehensive income
|
730
|
|
|
1,256
|
|
|
Total IDEX shareholder’s equity
|
538,236
|
|
|
186,584
|
|
|
Non-controlling interest
|
5,444
|
|
|
6,438
|
|
|
Total equity
|
543,680
|
|
|
193,022
|
|
|
Total liabilities, convertible redeemable preferred stock, redeemable non-controlling interest and equity
|
$
|
698,051
|
|
|
$
|
234,412
|
|
View original content to download multimedia: https://www.prnewswire.com/news-releases/ideanomics-inc-reports-q2-2021-financial-results-301356163.html
SOURCE Ideanomics
- Kasa, Flora’s food and beverage division, announced that it had completed its first purchase order valued at approximately US$1.1m
- This fulfillment is in line with the sales agreement with Tropi, the largest distributor in Colombia, that dates back to July 2021 and is set to last for a year
- This initial sale demonstrated the company’s ability to follow through with its commitments
- Flora is also set to hold its earnings call for the first half of the 2021 fiscal year
- The virtual event is scheduled for Thursday, August 19, 2021, at 4:30 p.m. E.T.
Back in July 2021, Flora Growth (NASDAQ: FLGC), through its food and beverage division, Kasa Wholefoods Company S.A.S. (“Kasa”), inked a sales agreement with Importaciones y Asesorias Tropi S.A.S. (“Tropi”), the largest food and beverage distributor in Colombia. The agreement was intended to last up to one year, with Flora projecting revenue generation of up to US$10 million over that period (https://cnw.fm/Rvlz7).
In August 2021, Kasa announced that it had completed the first purchase order in line with the agreement. The purchase order, valued at approximately US$1.1 million, marked a key milestone for Flora and also demonstrated the company’s ability to follow through with its commitments (https://cnw.fm/3WPVg). While making the announcement, Jason Warnock, the Chief Revenue Officer (“C.R.O.”) of Flora, noted:
“We believe this initial sale demonstrates Flora’s ability to rapidly follow through on its commitments and marks a major turning point for our Kasa Wholefoods division.”
He further added, “We expect this relationship with Tropi to generate significant revenue potential in both the short and long term as we build upon a relationship with the leading food and beverage distributor in Colombia.”
Flora is an internationally focused cannabis brand builder. It is known for leveraging natural, cost-effective cultivation practices to supply cannabis derivatives to its different product divisions, including pharmaceuticals, natural wellness, hemp textiles, cosmetics, food and beverage. The company also currently operates one of the largest outdoor cultivation facilities in the world. Its fundamental goal /is to market a higher-quality premium product at competitive market prices.
Tropi, on the other hand, is an enterprise committed to developing commercial and logistical strategies that allow for the positioning of consumer packaged goods (“C.P.G.”) across different categories through various distribution models, with a focus on the Colombian market. Since it was founded back in 1996, it has made a name for itself by offering healthy and quality products, excellent customer service, and commitment to meeting customers’ needs.
With this initial sale, Flora hopes to increase its monthly sales to US$2 million as it further ventures into the newly permitted product category of cannabis-containing ingestible products. This milestone is a move towards the company maximizing the value of the relationship with Tropi, allowing for its growth and expanding its product line.
Flora is also set to hold its earnings call for the first half of the 2021 fiscal year. The call, which will be held via webcast, is scheduled for Thursday, August 19, 2021, at 4:30 p.m. Eastern Daylight Time, right after market close (https://cnw.fm/IlG4P).
The webcast will have Flora’s management deliver financial results, offer operational updates and even comment on recent growth as well as mergers and acquisition (“M&A”) initiatives announced since the company got listed on NASDAQ back on May 11, 2021. The event will also have a question-and-answer session where investors, the media, and analysts can seek clarification or ask specific questions that they might have.
If you wish to participate in the webcast, you can register via this link: https://cnw.fm/dYMEb
If any member of the investment community needs access to a phone dial-in, please email flora@cmwmedia.com and one will be provided promptly. For those who would simply like to listen to the replay of the call, here are the available options:
Canada/USA: 1-844-512-2921
International Toll: 1-412-317-6671
Replay Access Code: 13722364
The replay dial-in service will be available after 7:30 p.m. Eastern Daylight Time until September 3, 2021
The live webcast will also be accessible online via the link shared above. It will then be archived and available on Flora’s website within approximately 24 hours.
For more information, visit the company’s website at www.FloraGrowth.ca.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
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Cybin (NEO: CYBN) (NYSE American CYBN), a biotechnology company focused on progressing psychedelic therapeutics, has announced its unaudited business highlights and financial results for the three-month period ended June 30, 2021. In the report, the company noted it had become the first psychedelic company to list on the NYSE American LLC stock exchange, a milestone reached on Aug. 5, 2021; raised more than C$120 million with the inclusion of its latest equity financing round; achieved certain milestones by wholly owned subsidiary Adelia Therapeutics Inc.; initiated the next phase of its digital therapeutics platform designed to evaluate patient outcomes through a highly secure, patient-centered data analytics platform for pre- and post-psychedelic treatments; started scale up of its European operations and research activities; expanded its patent portfolio to 13 patent filings; and entered into an exclusive research and development collaboration agreement with TMS NeuroHealth Centers Inc. Financially, the company reported total cash and cash equivalents of C$55.1 million for the quarter ending June 30, 2021, and net loss of C$14.7 million for the same period, of which noncash expenses totaled C$5.6 million and cash-based operating expenses totaled C$9.1 million. “During the past several months, Cybin has garnered a great deal of attention as an emerging leader in the psychedelic therapeutics space,” said Cybin CEO Doug Drysdale in the press release. “We believe the molecules we have under development may have the potential to transform the treatment landscape and fill current unmet treatment needs for various psychiatric and neurological conditions. We look forward to sharing updates as we advance our pre-clinical and clinical programs and continue the scientific exploration that we believe will ultimately provide safer and more effective treatments for those suffering with mental illness and addiction issues.”
To view the full press release, visit https://ibn.fm/L9MWX
About Cybin Inc.
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at http://ibn.fm/CYBN
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BOHEMIA, NY, Aug. 16, 2021 — AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer and manufacturer of state-of-the-art communications components for satellite communications, space, telecom (5G/6G) and defense markets, today reported financial results for its second quarter and first six months of 2021 (Q2’21 and 6M’21) and reviewed its growth outlook.
AmpliTech is a world leading developer of Low Noise Amplifier (LNA) components which increase the power of a radio signal while eliminating the distortion or “noise” that can degrade or destroy digital signals. AmpliTech believes its LNA technology can play a vital role enabling substantial performance and bandwidth improvements in satellite communications and in achieving gigabit data transmission speeds in next generation 5G networks.
Highlights
- Q2’21 revenue rose 55% to $1,024,410 vs. $660,699 in Q2’20 and increased 117% vs. Q1’21.
- AmpliTech’s order backlog as of August 16 th was $2.45M in contractual hardware and engineering services anticipated for delivery over the next three-to-six months, versus $2.4M at the close of Q1’21.
- Secured Follow-On LNA Order from Fortune 500 global defense and aerospace company with expected shipment in Q3’21.
- Secured $0.5M in orders in July for custom LNAs to be used in ground stations for geosynchronous equatorial orbit (GEO), low earth orbit (LEO) and medium earth orbit (MEO) satellite systems. Shipments are also anticipated in Q3’21.
First Six Months Highlights
- Completed a financial recapitalization and Nasdaq up-listing in the first half of 2021, yielding working capital of $29.8M as of June 30th. The capital is supporting expanded product development, sales and marketing and infrastructure investments while also providing the financial strength required to engage with global customer prospects previously outside AmpliTech’s reach.
- Paid off $1M in debt, secured $0.2M in SBA loan forgiveness, purchased $0.4M in scientific equipment to enhance product development and testing and made a strategic investment in its secure LNA chip development joint venture partner SN2N.
- Achieved design wins for AmpliTech’s LNA product suite which reaffirm its industry leading performance, extreme durability, and low power (and heat) dissipation. AMPG LNA components power satellite constellations and cellular/IoT devices, and its super-cooled cryogenic LNA components deliver signal amplification performance required for quantum computing systems and deep space research.
- Began development, product testing and design integration for LNA chipsets with hardware encryption to power un-hackable 5G networks that deliver increased data flow and security to enable expanded content and data distribution as well as IoT device adoption
- Built out expanded sales and marketing team and structure targeting major OEMs as well as system integrators to substantially expand the Company’s addressable market.
- Established an on-site testing laboratory to expedite new product development while reducing variable R&D costs and increasing quality control.
Fawad Maqbool, President, CTO, and CEO, said, “Our Q2 results reflect initial benefits of our significantly enhanced financial position and the gradual return of customer prospects to more normal planning and procurement activity for projects where our low noise amplifier solutions can deliver game-changing performance and ROI. Importantly, our financial recapitalization is allowing AmpliTech to engage for the first time with a range of very large customer prospects that were previously out of our reach.
“We are making strategic investments in product development, sales & marketing and personnel and infrastructure to better position AmpliTech for hyper-growth opportunities we see across several markets, including satellite communications, the build out of true 5G infrastructure, quantum computing and space exploration.
“To address this very large and diversified base of long-term opportunities, we are transferring our decades of experience and industry-leading signal amplification technology into semiconductor chip-based solutions targeted for launch mid-next year. We have had excellent customer interest in these next-generation LNA solutions which will offer performance enhancements, built in hardware security, a far smaller footprint and a lower price point – for a very compelling ROI for customers.
“The next several years are expected to see unprecedented growth in the demand for wireless connectivity to power the proliferation of devices and rapid expansion in bandwidth requirements from cloud computing, content streaming, Internet of Things (IoT) applications, autonomous vehicles, quantum computing and space exploration.
Outlook
“AmpliTech is positioning itself to be a key infrastructure provider to support satellite, 5G and other radio frequency communications infrastructure that will be scaling rapidly to address these growing needs. Given our substantially strengthened financial, product and industry position and the very favorable industry backdrop, we anticipate significant growth potential for our Company in the coming years.
“We expect our industry-leading product performance, new product offerings and growing end-market demand for cost effective digital bandwidth will drive substantial growth for AmpliTech for years to come. We are also working to identify potential tuck-in acquisitions of complementary businesses that can expand our customer capabilities, footprint and value-add.
“Our business development efforts are proceeding well, enabling a growing base of new customer dialogues that are progressing to custom designs as well as initial product testing. We anticipate generally improving market conditions over the balance of 2021, though with some potential for project delays related to the COVID-19 pandemic and its impact on customer activity, along with related supply chain challenges. Throughout, we will remain sharply focused on balancing our growth investments with our revenue ramp and margin profile in order to drive the business to positive cash flow and profitability.”
Q2’21 Results
Q2’21 revenue rose 55% to $1,024,410 vs. $660,699 in Q2’20 and increased 117% vs. Q1’21, reflecting the Company’s expanded sales efforts along with a return to more normal business conditions versus disruptions in customer activity related to the COVID-19 pandemic. AmpliTech was successful in rebuilding its order backlog during a strong period of product deliveries, yielding a current backlog of $2.45M which provides a solid outlook for the balance of the year.
Gross profit rose 52.5% to $344,623 in Q2’21 compared to $225,988 in Q2’20, reflecting the increase in revenue and a relatively stable gross margin of 33.6% in Q2’21 compared to 34% in Q2’20.
Selling, general and administrative expense increased to $1,043,550 in Q2’21 from $442,457 in Q2’20 principally due to investments in expanded sales, marketing, R&D, management, administrative and public-company activities and personnel intended to support long term growth. Q2’21 also included approximately $116,000 in expenses related to the Company’s common stock offering in the period, offset by a Q2’21 $232,200 gain on the extinguishment of debt reflecting forgiveness of the Company’s PPP loan.
AmpliTech reported a Q2’21 net loss of ($472,695), or ($0.05) per share, compared to a net loss of ($243,268), or ($0.10) per share, in Q2’20. Weighted average shares outstanding increased to 8,863,517 in Q2’21, reflecting shares issued in the Company’s common stock offerings in the first half of 2021, compared to 2,476,816 shares outstanding in Q2’20. As of August 10, 2021, AmpliTech had 9,343,671 shares of common stock outstanding.
Balance Sheet
AmpliTech had working capital of $29.8M at the close of Q2’21, including cash, cash equivalents and marketable securities totaling $28.7M, reflecting proceeds from the Company’s public offerings in February and April 2021.
About AmpliTech Group, Inc. ( www.AmpliTechinc.com )
AmpliTech Group, Inc. designs, develops, and manufactures state-of-the-art radio frequency (RF) components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. AmpliTech has a 13+ year track record of developing high performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of the unique skills, experience and dedication of our focused team which enables us to deliver superior solutions, faster time to market, competitive pricing and excellent customer satisfaction and repeat business.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s ability to execute its business plan as anticipated; (ii) trends affecting the Company’s financial condition or results of operations; (iii) the Company’s growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, all of which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising, these forward-looking statements, except as required by applicable law.
Company
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Investor Relations
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AMPG@catalyst-ir.com or 212-924-9800
The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company, today announced that it is expanding its eco-friendly aluminum product line with a new 750-ml (25.3-ounce) bottle. “On-premises bottled water consumption is a billion-dollar-a-year market that has very few alkaline water offerings. We expect to change that in a hurry,” said Ricky Wright, president and CEO of The Alkaline Water Company. “Alkaline88’s new 750ml, fully recyclable and refillable aluminum bottle will be a flagship product for our strategic expansion into the billion-dollar hospitality channel. The Alkaline Water Company recently hired Gary Bliss as our new director of Hospitality. He has decades of experience and a phenomenal track record in the industry. He has already approached numerous on-premises establishments where our 750ml white aluminum would be an ideal eco-friendly product for their venues. Consumers will soon be able to enjoy Smooth Hydration(R) at hotels, bars, restaurants, gyms, and other popular on-site venues. As we roll out our first-ever traditional marketing campaign, we know that more customers will be looking for Alkaline88 as their water of choice.”
To view the full press release, visit https://ibn.fm/CTptk
About The Alkaline Water Company
Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH-balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label: Clean Beverage. Quickly being recognized as a growing lifestyle brand, Alkaline88 launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused flavored water is available in six unique, all-natural flavors with new flavors coming soon. In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and to serve as the celebrity brand ambassador for the Alklaine88 and A88 Infused brands. To purchase Alkaline88 and A88 Flavor Infused products online, visit www.Alkaline88.com. To learn more about the company, visit www.TheAlkalineWaterCo.com.
NOTE TO INVESTORS: The latest news and updates relating to WTER are available in the company’s newsroom at http://ibn.fm/WTER
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Second Quarter Revenue Increased Over 37% Year-Over-Year and 30% Over Q1 2021
Management to Host Conference Call Today at 5:00 pm ET
HIGHLANDS RANCH, Colo., Aug. 12, 2021 — Vivos Therapeutics, Inc. (“the Company”) (NASDAQ: VVOS) , a medical technology company focused on developing and commercializing innovative diagnostic and treatment modalities for patients suffering from sleep-disordered breathing, including mild-to-moderate obstructive sleep apnea (OSA), today reported financial results and operating highlights for the second quarter and six months ended June 30, 2021.
Financial and Operating Highlights:
- Revenue increased 37.5% to $4.5 million for the second quarter of 2021 and was $7.9 million for the six months ended June 30, 2021, compared to $3.3 million and $6.5 million for the three and six months ended June 30, 2020, respectively;
- Revenue increased 30% in the second quarter of 2021 over revenue from the first quarter of 2021;
- Gross profit was $3.6 million for the second quarter of 2021 and $6.3 million for the six months ended June 30, 2021, compared to gross profit of $2.7 million and $5.1 million for the comparable periods in 2020, respectively;
- Gross margin was 81% for the second quarter of 2021, compared to 83% for the second quarter of 2020, and remained consistent at 79% for the first six months of both 2021 and 2020, reflecting high margin service revenues;
- General and administrative expenses were $6.1 million for the second quarter of 2021 and $11.2 million for the six months ended June 30, 2021, compared to $3.5 million and $7.7 million for the three and six months ended June 30, 2020, respectively, reflecting Vivos’ investment in new personnel as well as public company costs and other general and administrative expenses;
- Net loss was $4.0 million and $7.4 million for the three and six months ended June 30, 2021, compared to $1.4 million and $4.0 million for the comparable periods in 2020, respectively;
- Cash and cash equivalents were $34.2 million at June 30, 2021;
- During the second quarter of 2021, Vivos surpassed 19,000 total patients treated with the Vivos System;
- In April 2021, Vivos appointed Mimi Guarneri, MD, FACC as an independent consultant serving in the role of Medical Director of Clinical Education. The Company also retained the services of Amy Osmond Cook, PhD and her team at Osmond Marketing to lead the Company’s marketing and sales efforts going forward;
- In May 2021, the Company completed an underwritten follow-on offering of 4,600,000 shares of its common stock and the exercise in full of the underwriters’ option to purchase additional shares, for net proceeds of $25.4 million;
- Also in May, the Company’s Founder and Chief Medical Officer, Dr. G. Dave Singh, DMD, Ph.D., DDSc., released a new book titled Pneumopedics and Craniofacial Epigenetics to help doctors and dentists better understand how to address underlying craniofacial conditions that affect a patient’s overall airway, breathing and sleep health;
- Subsequent to quarter end, in July, the Company unveiled new data from an independent patient survey related to its proprietary Vivos treatment, showing nearly 97% of patients surveyed said that they had achieved their desired outcome from the Vivos treatment for their OSA;
- Also in July, the Company announced results from a national study commissioned by the Company to assess patients’ airway function and OSA symptoms after undergoing the Vivos treatment. In the study, 28 percent of the 74 adult patients treated with the Company’s FDA Class 1 DNA appliance for certain orofacial anomalies reported no remaining OSA symptoms; and
- Later in July, Vivos announced the opening of The Vivos Institute training center in Denver, Colorado. This 15,000-square-foot facility was established to provide advanced post-graduate education and training to dentists, dental teams and other healthcare providers from around the world in a live and hands-on setting.
“There are a number of key positive takeaways from our second quarter results,” said R. Kirk Huntsman, Vivos’ Chairman and CEO. “First, we achieved strong revenue results ahead of our internal forecasts and analysts’ estimates, although the year over year comparisons are somewhat augmented due to the impact of COVID last year.”
“Second, we have continued to focus on strategic sales and marketing initiatives, designed to introduce more healthcare and dental professionals to the benefits of the Vivos System. Chief among these initiatives was the launch of our VivoScore sleep apnea test, which our VIPs have utilized nearly 2,000 times with patients since launch. In a sample survey of nearly 60 VIP practices that converted over to VivoScore as their primary home sleep apnea test, the total number of VivoScore sleep tests performed was up over 300% versus prior period testing with alternative sleep apnea test technologies. This remarkable surge in sleep apnea testing means more dentists and sleep physicians are having dialogues with more candidates for Vivos System. It remains to be seen just how many of these patients will eventually start treatment with the Vivos System, but we are closely monitoring this process and working with dentists to help close cases where appropriate. Our business model is centered on treating sleep apnea via the dental community, and we believe more dentists talking with their patients about sleep apnea, and testing patients for sleep apnea, will lead to more dentists signing up as VIPs and more case starts with the Vivos System. Our second quarter results reflect the impact of these measures when compared to first quarter, with growing enrollments by new VIP dentists and sequential increases of 25% and 34% for products and services revenue, respectively. These strong results demonstrate the continuing recognition and adoption of the Vivos System by the dental community with growing awareness and support from medical doctors and other healthcare providers.”
“Third, in addition to our core business of enrolling new VIPs and increasing sales of appliances, we have begun to see revenue from other sources we have implemented, including from our recently launched MyoCorrect orofacial myofunctional therapy service and the beginnings of management fee revenue from our Medical Integration Division as well as some revenue from VivoScore (which we view principally as a marketing tool). While we just introduced these new revenue lines, demand has already surpassed our original expectations. Based on this, we believe these areas represent meaningful upside to our revenue potential as they build further momentum throughout the second half of this year and beyond. What’s more, we are constantly looking to develop new potential revenue sources as the good word spreads about Vivos and the Vivos System (as evidenced by our recently released patient data).”
“Fourth, we have recently begun an active outreach to the DSO industry. DSOs, or Dental Support Organizations, own and operate thousands of dental practices throughout the U.S. and Canada. Very few DSOs have successfully implemented a dental sleep management program, although several have tried. Our management team’s extensive DSO experience gives us a huge advantage in penetrating this market. Not only do we personally know the key players, but we have also specifically designed our model to seamlessly integrate and thrive within the corporate DSO environment. The initial response from the DSO community has been extremely positive, and we are working very closely with a number of these companies to initiate pilot tests within certain target markets.”
“In sum, we believe that the continuing formulation and implementation of our growth plans, supported by our augmented balance sheet after our follow-on public offering during the second quarter, leave us well placed to continue our growth during the balance of 2021 and into the following year. One cautionary note to our realization of these objectives would be the impact and disruption in dental patient access or uncertainty caused by a resurgence of COVID, which we are monitoring daily.”
Further information on Vivos’ financial results is included on the attached condensed consolidated balance sheets and statements of operations, and additional explanations of Vivos’ financial performance are provided in the Company’s Quarterly Report on Form 10-Q for the six months ended June 30, 2021, which will be filed with the Securities and Exchange Commission (“SEC”). The full 10-Q report will be available on the SEC Filings section of the Investor Relations section of Vivos’ website at https://vivoslife.com/investor-relations/ .
Business Updates
In April 2021, Vivos appointed Mimi Guarneri, MD, FACC as an independent consultant serving in the role of Medical Director of Clinical Education. Dr. Guarneri is widely acclaimed as a leading Integrative Cardiologist in America. She is Board-certified in Cardiovascular Disease, Internal Medicine, Nuclear Cardiology, and Integrative Holistic Medicine. Dr. Guarneri is a Founder and President of The Academy of Integrative Health and Medicine. She serves on the Founding Board of the American Board Physician Specialties in Integrative Medicine and is a Clinical Associate Professor at the University of California, San Diego. In addition to her responsibilities related to Vivos’ first Pneusomnia Center, Dr. Guarneri duties for the Company include the promotion and expansion of the Company’s Medical Integration Division.
On May 11, 2021, Vivos closed an underwritten follow-on public offering of 4,600,000 shares of its common stock. The offering consisted of 4,000,000 shares of its common stock, as well as an additional 600,000 shares pursuant to the exercise in full of the underwriters’ option to purchase additional shares of common stock, at a public offering price of $6.00 per share. The aggregate gross proceeds to Vivos from the public offering was $27.6 million prior to deducting underwriting discounts, commissions and other estimated offering expenses.
In July, the Company unveiled new data from an independent patient survey related to its proprietary Vivos treatment, showing nearly 97% of patients surveyed said that they had achieved their desired outcome from Vivos System treatment for their OSA. Other key findings included:
- Over half (63%) of patients surveyed said that they rely on the advice of their dentist to find a lasting solution that addresses the root cause of their OSA; and
- Nearly one-third (29%) of patients surveyed said that they searched for non-surgical alternatives to current standards of care for treating OSA.
Also in July, Vivos announced results from a national study commissioned by Vivos to assess patients’ airway function and OSA symptoms after undergoing the Vivos treatment. In the study, 28% of 74 adult patients treated with the Company’s FDA Class 1 DNA appliance for certain orofacial anomalies reported no remaining OSA symptoms, which is defined as patients having an Apnea Hypopnea Index (AHI) score of less than five post-treatment. This real world patient data was gathered from multiple sites and has been submitted to the U.S. Food and Drug Administration to be used as part of the Company’s process for obtaining 510k clearance for the DNA appliance to treat mild-to-moderate OSA.
On July 29, 2021, the Company announced the opening of The Vivos Institute training center in Denver, Colorado. The 15,000-square-foot facility was established to provide advanced post-graduate education and training to dentists, dental teams and other healthcare providers from around the world in a live and hands-on setting. The Institute’s emphasis will be on educating healthcare providers about OSA and Vivos’ treatments for OSA within their practice areas, along with training on Vivos’ related practice management tools for dentists.
Conference Call
The Company will conduct a conference call today, August 12, 2021 at 5:00 p.m. (Eastern Time) to review the second quarter results as well as provide an overview of the Company’s recent milestones and growth strategy.
To access the conference call, please dial (888) 204-4368, or for international callers, (720) 543-0214. A replay will be available shortly after the call and can be accessed by dialing (844) 512-2921, or for international callers, (412) 317-6671. The passcode for the live call and the replay is 3460553. The replay will be available until August 26, 2021.
A live webcast of the conference call can be accessed on Vivos’ website at https://vivoslife.com/investor-relations/ . An online archive of the webcast will be available on the Company’s website for 30 days following the call.
About Vivos Therapeutics, Inc.
Vivos Therapeutics Inc. (NASDAQ: VVOS) is a medical technology company focused on developing and commercializing innovative diagnostic and treatment modalities for adult patients suffering from sleep-disordered breathing, including obstructive sleep apnea (OSA). The Vivos treatment for mild-to-moderate OSA involves a customized oral appliance and protocols called the Vivos System. Vivos believes that its Vivos System oral appliance technology represents the first clinically effective non-surgical, non-invasive, non-pharmaceutical and cost-effective solution for people with mild-to-moderate OSA. Vivos also sells orthodontic appliances for adults and children. Vivos’ oral appliances have proven effective in over 19,000 patients worldwide by more than 1,250 dentists. Combining technologies and protocols that alter the size, shape, and position of the tissues of a patient’s upper airway, the Vivos System opens airway space and may significantly reduce symptoms and conditions associated with mild-to-moderate OSA, such as lowering Apnea Hypopnea Index scores. Vivos also markets and distributes VivosScore, powered by the SleepImage diagnostic technology for Home Sleep Testing in adults and children. The Vivos Integrated Practice (VIP) program offers dentists training and other value-added services in connection with using the Vivos System.
For more information, visit www.vivoslife.com .
Cautionary Note Regarding Forward-Looking Statements
This press release, the earnings call referred to herein, and statements of the Company’s management made in connection therewith contain “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, particularly with respect to the public offering described herein. Words such as “may”, “should”, “expects”, “projects,” “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond Vivos’ control. Actual results (including the Company’s future results of operations) may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in Vivos’ filings with the Securities and Exchange Commission (“SEC”). Vivos’ filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, Vivos expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Vivos’ expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.
Investor Relations Contact:
Edward Loew
Investor Relations Officer
(602) 903-0095
ed@vivoslife.com
Media Relations Contact:
Caitlin Kasunich / Jenny Robles
KCSA Strategic Communications
(212) 896-1241 / (917) 420-1444
ckasunich@kcsa.com / jrobles@kcsa.com
VIVOS THERAPEUTICS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
|
|
June 30, 2021 |
|
December 31, 2020 |
|
|
|
(Unaudited) |
|
|
|
| ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Current assets |
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
34,198,319 |
|
|
$ |
18,205,668 |
|
| Accounts receivable, net |
|
|
3,460,655 |
|
|
|
1,430,890 |
|
| Current portion of note receivable – related party |
|
|
56,732 |
|
|
|
84,696 |
|
| Prepaid expenses and other current assets |
|
|
1,672,949 |
|
|
|
673,061 |
|
| Total current assets |
|
|
39,388,655 |
|
|
|
20,394,315 |
|
|
|
|
|
|
|
|
|
| Property and equipment, net |
|
|
2,291,155 |
|
|
|
871,597 |
|
| Intangible assets, net |
|
|
412,513 |
|
|
|
270,121 |
|
| Note receivable, net – related party |
|
|
846,214 |
|
|
|
810,635 |
|
| Goodwill |
|
|
2,843,123 |
|
|
|
2,671,434 |
|
| Deposits |
|
|
374,648 |
|
|
|
309,367 |
|
| Total assets |
|
$ |
46,156,308 |
|
|
$ |
25,327,469 |
|
|
|
|
|
|
|
|
|
| LIABILITIES AND STOCKHOLDER’S EQUITY |
|
|
|
|
|
|
|
| Current liabilities |
|
|
|
|
|
|
|
| Accounts payable |
|
$ |
1,298,751 |
|
|
$ |
781,364 |
|
| Accounts payable – related party |
|
|
– |
|
|
|
1,500,000 |
|
| Accrued expenses |
|
|
2,635,924 |
|
|
|
1,736,721 |
|
| Contract liability |
|
|
4,114,574 |
|
|
|
2,937,992 |
|
| Current portion of long-term debt |
|
|
1,265,067 |
|
|
|
866,972 |
|
| Total current liabilities |
|
|
9,314,316 |
|
|
|
7,823,049 |
|
|
|
|
|
|
|
|
|
| Long-term debt, net of current portion |
|
|
– |
|
|
|
423,095 |
|
| Deferred rent |
|
|
358,395 |
|
|
|
163,966 |
|
| Total liabilities |
|
|
9,672,711 |
|
|
|
8,410,110 |
|
|
|
|
|
|
|
|
|
| Commitments and contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Convertible Redeemable Preferred Series A Preferred Stock – $0.0001 par value, 50,000,000 authorized, none issued and outstanding at June 30, 2021 and December 31, 2020, respectively |
|
|
– |
|
|
|
– |
|
|
|
|
|
|
|
|
|
| Stockholders’ equity |
|
|
|
|
|
|
|
| Preferred Stock Series B, nonvoting – $0.0001 par value, 1,200,000 authorized, none issued and outstanding at June 30, 2021 and December 31, 2020, respectively |
|
|
– |
|
|
|
– |
|
| Common Stock $0.0001 par value, 200,000,000 shares authorized, 22,812,119 and 18,209,452 issued and outstanding at June 30, 2021 and December 31, 2020, respectively |
|
|
2,282 |
|
|
|
1,821 |
|
| Additional paid-in capital |
|
|
79,257,813 |
|
|
|
52,250,266 |
|
| Accumulated deficit |
|
|
(42,776,499 |
) |
|
|
(35,334,728 |
) |
| Total stockholders’ equity |
|
|
36,483,596 |
|
|
|
16,917,359 |
) |
| Total liabilities and stockholders’ equity |
|
$ |
46,156,308 |
|
|
$ |
25,327,469 |
|
|
|
|
|
|
|
|
|
|
VIVOS THERAPEUTICS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations (Unaudited)
|
|
|
Three months ended
June 30, |
|
|
Six months ended
June 30, |
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Product revenue |
|
$ |
1,736,593 |
|
|
$ |
646,535 |
|
|
$ |
3,123,696 |
|
|
$ |
2,139,432 |
|
| Service revenue |
|
|
2,760,163 |
|
|
|
2,624,653 |
|
|
|
4,820,941 |
|
|
|
4,328,263 |
|
| Total revenue |
|
|
4,496,756 |
|
|
|
3,271,188 |
|
|
|
7,944,637 |
|
|
|
6,467,695 |
|
| Cost of sales (exclusive of depreciation and amortization shown separately below) |
|
|
872,651 |
|
|
|
544,846 |
|
|
|
1,630,647 |
|
|
|
1,325,302 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
3,624,105 |
|
|
|
2,726,342 |
|
|
|
6,313,990 |
|
|
|
5,142,393 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General and administrative |
|
|
6,092,535 |
|
|
|
3,460,841 |
|
|
|
11,151,668 |
|
|
|
7,693,812 |
|
| Sales and marketing |
|
|
1,398,050 |
|
|
|
502,190 |
|
|
|
2,258,210 |
|
|
|
1,062,026 |
|
| Depreciation and amortization |
|
|
194,769 |
|
|
|
180,639 |
|
|
|
372,266 |
|
|
|
361,607 |
|
| Total operating expenses |
|
|
7,685,354 |
|
|
|
4,143,670 |
|
|
|
13,782,144 |
|
|
|
9,117,445 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating loss before interest (expense) income |
|
|
(4,061,249 |
) |
|
|
(1,417,328 |
) |
|
|
(7,468,154 |
) |
|
|
(3,975,052 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
|
(251 |
) |
|
|
(18,067 |
) |
|
|
(333 |
) |
|
|
(61,790 |
) |
| Interest income |
|
|
18,971 |
|
|
|
21,723 |
|
|
|
26,716 |
|
|
|
42,603 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
|
(4,042,529 |
) |
|
|
(1,413,672 |
) |
|
|
(7,441,771 |
) |
|
|
(3,994,239 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preferred stock accretion |
|
|
– |
|
|
|
(250,000 |
) |
|
|
– |
|
|
|
(500,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss attributable to common stockholders |
|
$ |
(4,042,529 |
) |
|
$ |
(1,663,672 |
) |
|
$ |
(7,441,771 |
) |
|
$ |
(4,494,239 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss per share attributable to common stockholders (basic and diluted) |
|
$ |
(0.19 |
) |
|
$ |
(0.13 |
) |
|
$ |
(0.38 |
) |
|
$ |
(0.36 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average number of shares of Common Stock outstanding (basic and diluted) |
|
|
20,738,021 |
|
|
|
12,486,973 |
|
|
|
19,482,056 |
|
|
|
12,531,141 |
|
TAAT(TM) Global Alternatives (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) has appointed two new members to its board of directors. The new members — Peter Nguyen and John Martin — will serve as independent directors, effective immediately. Nguyen and Martin will also be serving as audit committee members for the company. TAAT’s board of directors now comprises six directors, four of whom are independent directors as required by leading public stock exchanges. The company’s audit committee members are all independent directors. An alumnus of the University of British Columbia, Nguyen is a chartered professional accountant and currently serves as an officer and director of several publicly traded companies in a variety of industries. He has also garnered more than 10 years of experience in financial reporting and business strategy positions in both public and private entities, where he became expert at providing assurance, corporate financing, tax and business advisory services. Martin has more than three decades of international business experience, primarily in capital markets and fund management. He has held senior positions with Royal Bank of Canada and was head of capital markets at the Bank of Tokyo Mitsubishi in Switzerland. In addition, he established CMI Credit Market Investments, an advisory firm active in distressed debt. “On behalf of the company’s Board of Directors, we are pleased to welcome Nguyen and Martin to the team, who are each bringing to the table unique expertise in public companies,” said TAAT CEO Setti Coscarella said in the press release. “TAAT has made considerable strides in the past year, with public market presences in good standing in Canada, the United States and Germany. Within just nine months of being publicly listed in Canada, TAAT ascended to the OTCQX(R) best market in the United States. Moreover, upon becoming a ‘post-revenue’ company at the end of 2020, TAAT was added to the CSE Composite Index as well as its CSE25(TM) subset, or the 25 largest firms in Composite by market capitalization. We look forward to working with Mr. Nguyen and Mr. Martin as we continue our initiatives to build market share in the $814 billion global tobacco industry.”
To view the full press release, visit https://ibn.fm/S1meW
About TAAT Global Alternatives Inc.
TAAT Global Alternatives has developed TAAT, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in Original, Smooth and Menthol varieties. TAAT’s base material is Beyond Tobacco(TM), a proprietary blend that undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with Big Tobacco pedigree, TAAT was launched first in the United States in Q4 2020 as the company seeks to position itself in the $814 billion global tobacco industry. For more information, please visit www.TAATGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to TOBAF are available in the company’s newsroom at http://ibn.fm/TOBAF
About InvestorWire
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Sustainable Green Team (OTC: SGTM), a leading provider of environmentally beneficial solutions for tree and storm waste disposal, and its wholly owned subsidiary National Storm Recovery LLC, are experts at dealing with the aftermath of storms, regardless of their severity. This comes as the National Oceanic and Atmospheric Administration (“NOAA”) Climate Prediction Center is anticipating an above-normal Atlantic hurricane season in the coming months. “The Sustainable Green Team, through National Storm Recovery, offers the kind of expert support and guidance that communities may be looking for in order to prepare for and clean up after severe storms,” reads a recent article. “For the past four decades, National Storm Recovery has provided unparalleled services, ranging from commercial property storm recovery to tree trimming and clean up. National Storm Recovery is composed of a team that has expertise in dangerous tree removal, debris hauling and debris management. In addition to superior storm recovery assistance, the company also offers tree removal, stump grinding, tree care, land clearing, and grapple hauling.”
To view the full article, visit https://ibn.fm/MXSai
About Sustainable Green Team Ltd.
Sustainable Green Team, through its subsidiaries, provides tree services, debris hauling and removal, biomass recycling, mulch manufacturing, packaging and sales. The company was established with the objective of providing a solution for the treatment and handling of tree debris that has historically been disposed of in landfills, creating an environmental burden and pressure on disposal sites around the nation. The company’s solutions are founded in sustainability, based on vertically integrated operations that begin with collecting of tree debris through its tree services division and collection sites, then, through its processing division, recycling and using that tree debris as a feedstock that is manufactured into a variety of organic, attractive, next-generation mulch products that are packaged and sold to landscapers, installers and garden centers. The company plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and positioned for rapid growth from the resulting synergistic opportunities identified. The company’s customers include governmental, residential and commercial clients. For information regarding SGTM’s operations, expansion plans and production facilities, visit https://ibn.fm/ZdiFf.
NOTE TO INVESTORS: The latest news and updates relating to SGTM are available in the company’s newsroom at http://ibn.fm/SGTM
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.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
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