Hudbay Announces Election of Directors

TORONTO, May 17, 2021 (GLOBE NEWSWIRE) — Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today announced that each of the ten individuals nominated for election as a director of Hudbay at the company’s Annual and Special Meeting of Shareholders held on May 17, 2021 was elected.

The detailed voting results are set out below:

Director Number of 

Votes FOR
Number of Votes
Withheld
Percentage of Votes
FOR
Carol T. Banducci 193,235,851 925,004 99.52%
Igor A. Gonzales 190,799,304 3,361,551 98.27%
Richard Howes 192,979,327 1,181,528 99.40%
Sarah B. Kavanagh 193,643,555 517,300 99.73%
Carin S. Knickel 192,892,377 1,268,478 99.35%
Peter Kukielski 193,493,754 667,101 99.66%
Stephen A. Lang 190,464,899 3,695,956 98.10%
Daniel Muñiz Quintanilla 193,645,172 515,683 99.73%
Colin Osborne 193,587,734 573,121 99.71%
David Smith 192,932,000 1,228,855 99.37%

About Hudbay

Hudbay (TSX, NYSE: HBM) is a diversified mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. Directly and through its subsidiaries, Hudbay owns three polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and copper projects in Arizona and Nevada (United States). The company’s growth strategy is focused on the exploration, development, operation and optimization of properties it already controls, as well as other mineral assets it may acquire that fit its strategic criteria. Hudbay’s vision is to be a responsible, top-tier operator of long-life, low-cost mines in the Americas. Hudbay’s mission is to create sustainable value through the acquisition, development and operation of high-quality, long-life deposits with exploration potential in jurisdictions that support responsible mining, and to see the regions and communities in which the company operates benefit from its presence. The company is governed by the Canada Business Corporations Act and its shares are listed under the symbol “HBM” on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de Valores de Lima. Further information about Hudbay can be found on www.hudbay.com.

For further information, please contact:

Candace Brûlé
Director, Investor Relations
(416) 814-4387
candace.brule@hudbay.com

 



FSIS Recall 018-2021 – Undeclared Allergen

Washington D.C., May 17, 2021 (GLOBE NEWSWIRE) —

  

                                                                     

Recall Release
CLASS I RECALL
HEALTH RISK: HIGH
Congressional and Public Affairs
Buck McKay (202) 720-9113

FSISpress@usda.gov
FSIS-RC-018-2021

 

KRAFT HEINZ FOODS COMPANY RECALLS CHEF FRANCISCO SOUP PRODUCT DUE TO MISBRANDING AND UNDECLARED ALLERGENS

 

WASHINGTON, May 17, 2021 – Kraft Heinz Foods Company, a Cedar Rapids, Iowa establishment, is recalling approximately 13,504 pounds of a frozen foodservice soup product due to misbranding and undeclared allergens, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The product contains milk and eggs, known allergens, which are not declared on the product label. 

 

The frozen soup product was produced on October 7, 2020. The following product is subject to recall:

 

  • 4-lb. tubs containing “Chef Francisco Minestrone Condensed Soup” with a “Chef Francisco Vegetable Beef and Barley Condensed Soup” label with lot code LD28120FT1 represented on the label. The product was distributed in 16-lb cases labeled as “Chef Francisco Minestrone Condensed Soup” with lot code LD28120FT1.

 

The product subject to recall bears establishment number “EST. 15818A” inside the USDA mark of inspection. This foodservice item was shipped to hotels, restaurants, and institutions nationwide.

                                 

The problem was discovered after the firm received foodservice customer complaints that the product labeled as vegetable beef and barley condensed soup contained minestrone condensed soup.

 

There have been no confirmed reports of adverse reactions due to consumption of this product. Anyone concerned about an injury or illness should contact a healthcare provider.  

 

FSIS is concerned that some product may be in the freezers of hotels, restaurants, and institutions. These businesses are urged not to serve the product. This product should be thrown away or returned to the place of purchase.

 

FSIS routinely conducts recall effectiveness checks to verify recalling firms notify their customers of the recall and that steps are taken to make certain that the product is no longer available to consumers. When available, the retail distribution lists will be posted on the FSIS website at www.fsis.usda.gov/recalls.

 

Members of the media with questions about the recall can contact Lynne Galia, Corporate Affairs Specialist, Kraft Heinz Foods Company, at lynne.galia@kraftheinz.com. Consumers with questions about the recall can contact The Kraft Heinz Foods Company, Consumer Relations Hotline at (855) 265-7238.

 

 Consumers with food safety questions can call the toll-free USDA Meat and Poultry Hotline at 1-888-MPHotline (1-888-674-6854) or live chat via Ask USDA from 10 a.m. to 6 p.m. (Eastern Time) Monday through Friday. Consumers can also browse food safety messages at Ask USDA or send a question via email to MPHotline@usda.gov. For consumers that need to report a problem with a meat, poultry, or egg product, the online Electronic Consumer Complaint Monitoring System can be accessed 24 hours a day at https://foodcomplaint.fsis.usda.gov/eCCF/.

 

 

###
NOTE: Access news releases and other information at FSIS’ website at http://www.fsis.usda.gov/recalls.

Follow FSIS on Twitter at twitter.com/usdafoodsafety or in Spanish at: twitter.com/usdafoodsafe_es.

 

  USDA RECALL CLASSIFICATIONS  
Class I This is a health hazard situation where there is a reasonable probability that the use of the product will cause serious, adverse health consequences or death.
Class II This is a health hazard situation where there is a remote probability of adverse health consequences from the use of the product.
Class III This is a situation where the use of the product will not cause adverse health consequences.
 

USDA is an equal opportunity provider, employer and lender. To file a complaint of discrimination, write: USDA, Director, Office of Civil Rights, 1400 Independence Avenue, SW, Washington, DC 20250-9410 or call (800) 795-3272 (voice), or (202) 720-6382 (TDD).

 

       

 



USDA FSIS
USDA Food Safety and Inspection Service
press@fsis.usda.gov

New Concept Energy, Inc. Reports First Quarter 2021 Results

New Concept Energy, Inc. Reports First Quarter 2021 Results

DALLAS–(BUSINESS WIRE)–
New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based company, today reported Results of Operations for the first quarter ended March 31, 2021.

During the three months ended March 31, 2021, the Company reported a net income applicable to common shares for the three months ended March 31, 2021 of ($79,000), compared to net loss from continuing operations of ($34,000) for the three months ended March 31, 2020.

The Company reported net income from continuing operations of $79,000 for three months ended March 31, 2021, as compared to a net loss of ($34, 000) for the similar period in 2020.

For the three months ended March 31, 2021, corporate general & administrative expenses were $74,000 as compared to $104,000 for the comparable periods in 2020. The decrease was due, for the most part, to consulting fees paid by the Company regarding oil and gas matters in 2020 that were not incurred in 2021.

For the three months ended March 31, 2021 the Company recorded a tax refund from prior years of $91.000.

For the three months ended March 31, 2020 the Company recorded a loss from discontinued operations of $63,000 for the oil and gas operations that were sold in August 2020.

About New Concept Energy, Inc.

New Concept Energy, Inc. is a Dallas-based company which owns real estate West Virginia. For more information, visit the Company’s website at www.newconceptenergy.com.

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(amounts in thousands)

March 31,

2021

 

December 31,

2020

Assets

(Unaudited)

(Audited)

 
Current assets

Cash and cash equivalents

$

43

$

27

Current portion note receivable (including $3,584 and $3,631 in 2021 and 2020 from related parties)

 

3,636

 

3,683

Other current assets

 

220

 

92

Total current assets

 

3,899

 

3,802

 
Property and equipment, net of depreciation
Land, buildings and equipment

 

653

 

656

 
Note Receivable

 

145

 

153

 
Total assets

$

4,697

$

4,611

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS – CONTINUED

(dollars in thousands, except par value amount)

   
 

March 31,

2021

 

December 31,

2020

 

(Unaudited)

 

(Audited)

Liabilities and stockholders’ equity  
   
Current liabilities  
Accounts payable – (including $80 and $55 due to related parties in 2021 and 2020)  

$

108

 

$

80

 

Accrued expenses  

 

18

 

 

32

 

Current portion of long term debt  

 

52

 

 

52

 

Total current liabilities  

 

178

 

 

164

 

   
Long-term debt  
Notes payable less current portion  

 

115

 

 

122

 

   
Total liabilities  

 

293

 

 

286

 

   
Stockholders’ equity  
Preferred stock, Series B  

 

1

 

 

1

 

Common stock, $.01 par value; authorized, 100,000,000  
shares; issued and outstanding, 5,131,934 and 2,036,935 shares  
at March 31, 2021 and December 31, 2020  

 

51

 

 

51

 

Additional paid-in capital  

 

63,579

 

 

63,579

 

Accumulated deficit  

 

(59,227

)

 

(59,306

)

   
Total shareholders’ equity  

 

4,404

 

 

4,325

 

   
Total liabilities & equity  

$

4,697

 

$

4,611 

 

 

NEW CONCEPT ENERGY, INC AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF OPERATIONS

(unaudited)

(amounts in thousands, except per share data)

 
 

For the Three Months

ended March 31,

 

 

2021

 

 

 

2020

 

Revenue  
Rent  

$

26

 

$

26

 

Total Revenues  

 

26

 

 

26

 

 
 
Operating expenses  
Operating expenses  

 

18

 

 

16

 

Corporate general and administrative  

 

74

 

 

104

 

Total Operating Expenses  

 

92

 

 

120

 

Operating earnings (loss)  

 

(66

)

 

(94

)

 
Other income (expense)  
Interest income (including $52 and $60 for the three months ended 2021 and 2020 from related parties)  

 

56

 

 

64

 

Interest expense  

 

(2

)

 

(4

)

Other income (expense), net  

 

91

 

 

 

 

 

145

 

 

60

 

 
Earnings (loss) from continuing operations  

 

79

 

 

(34

)

 
Discontinued Operations  
Earnings (loss) from discontinued operations  

 

 

 

(63

)

 
Earnings (loss) applicable to common shares  

 

79

 

 

(97

)

 
Net income (loss) per common share-basic and diluted  

$

0.01

 

$

0.01

 

 
Weighted average common and equivalent shares outstanding – basic  

 

5,132

 

 

5,132

 

 

New Concept Energy, Inc.

Investor Relations

Gene Bertcher, (800) 400-6407

info@newconceptenergy.com

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Oil/Gas Energy Other Construction & Property Commercial Building & Real Estate Construction & Property

MEDIA:

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Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results

Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results

DALLAS–(BUSINESS WIRE)–
Income Opportunity Realty Investors, Inc. (NYSE American: IOR), a Dallas-based real estate investment company, today reported results of operations for the first quarter ended March 31, 2021.

For the three months ended March 31, 2021, the Company reported net income of $1,352,000 or $0.32 per share, as compared to net income of $841,000 or $0.20 per share for the same period ended 2020.

Our primary business is investing in real estate and mortgage note receivables.

Expenses

General and administrative expenses were $188 thousand for the three months ended March 31, 2021. This represents an increase of $49 thousand, compared to general and administrative expenses of $139 thousand for the three months ended March 31, 2020. This increase was primarily due to an increase in various operating expenses.

Advisory fees were $197 thousand for the three months ended March 31, 2021 compared to $189 thousand for the same period in 2020 for an increase of $8 thousand. Advisory fees are computed based on a gross asset fee of 0.0625% per month (0.75% per annum) of the average of the gross asset value.

Net income fee to related party was $139 thousand for the three months ended March 31, 2021. This represents an increase of $53 thousand, compared to the net income fee of $86 thousand for the three months ended March 31, 2020. The net income fee paid to our Advisor is calculated at 7.5% of net income.

Other income (expense)

Interest income decreased to $1.2 million for the three months ended March 31, 2021 compared to $1.5 million for the same period in 2020. The decrease of $300 thousand was primarily due to a decrease in the prime interest rate used to calculate interest on the receivable amount owed from our Advisor and other related parties.

Other income was $1 million for the three months ended March 31, 2021 due to the collection of a note previously written off.

About Income Opportunity Realty Investors, Inc.

Income Opportunity Realty Investors, Inc., a Dallas-based real estate investment company, currently holds a portfolio of notes receivable. The Company invests in real estate through direct equity ownership and partnerships. For more information, visit the Company’s website at www.incomeopp-realty.com.

INCOME OPPORTUNITY REALTY INVESTORS, INC.
CONSOLIDATED BALANCE SHEETS
March 31, December 31,

2021

2020

(Unaudited) (Audited)
(dollars in thousands, except par value amount)
 
Assets
 
Current assets
Cash and cash equivalents

$

 

$

12

 

Receivable and accrued interest from related parties

 

94,307

 

 

90,526

 

Total current assets

 

94,307

 

 

90,538

 

 
Non current assets
Notes and interest receivable from related parties

 

11,503

 

 

13,930

 

Total non current assets

 

11,503

 

 

13,930

 

 
Total Assets

$

105,810

 

$

104,468

 

 
 
Liabilities and Shareholders’ Equity
Liabilities:
Accounts payable and other liabilities

$

2

 

$

12

 

Total liabilities

 

2

 

 

12

 

Shareholders’ equity:
Common stock, $0.01 par value, authorized 10,000,000 shares; issued 4,173,675 and outstanding 4,168,414 shares in 2021 and 2020

 

42

 

 

42

 

Treasury stock at cost, 5,261 shares in 2021 and 2020

 

(39

)

 

(39

)

Paid-in capital

 

61,955

 

 

61,955

 

Retained earnings

 

43,850

 

 

42,498

 

Total shareholders’ equity

 

105,808

 

 

104,456

 

Total liabilities and shareholders’ equity

$

105,810

 

$

104,468

 

 
INCOME OPPORTUNITY REALTY INVESTORS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
For the Three Months Ended March 31,

 

2021

 

 

2020

 

(dollars in thousands, except per share amounts)
 
Revenues:
Revenue from operations

$

 

$

 

 
 
Expenses:

General and administrative (including $107 and $72 for the three months

ended 2021 and 2020, respectively, to related parties)

 

188

 

 

139

 

Net income fee to related party

 

139

 

 

86

 

Advisory fee to related party

 

197

 

 

189

 

Total operating expenses

 

524

 

 

414

 

Net operating loss

 

(524

)

 

(414

)

 
Other income (expenses):
Interest income from related parties

 

1,218

 

 

1,479

 

Other income

 

1,017

 

 

 

Total other income

 

2,235

 

 

1,479

 

Income before taxes

 

1,711

 

 

1,065

 

Income tax expense

 

359

 

 

224

 

Net income

$

1,352

 

$

841

 

 
Earnings per share – basic and diluted
Net income

$

0.32

 

$

0.20

 

 
Weighted average common shares used in computing earnings per share

 

4,168,414

 

 

4,168,414

 

 

 

Income Opportunity Realty Investors, Inc.

Investor Relations

Gene Bertcher (800) 400-6407

investor.relations@incomeopp-realty.com

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: REIT Other Construction & Property Residential Building & Real Estate Commercial Building & Real Estate Construction & Property

MEDIA:

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Creatd, Inc. Reports Record First Quarter 2021 Financial Results

Creatd first quarter net revenues increased 154%, year over year, exceeding company guidance.

PR Newswire

FORT LEE, N.J., May 17, 2021 /PRNewswire/ — Creatd, Inc. (Nasdaq CM: CRTD) (“Creatd” or the “Company”), today reported financial results for its first quarter ended March 31, 2021.

Commenting on the Company’s first quarter results, Creatd’s founder and CEO Jeremy Frommer stated, “Creatd established a solid business foundation in 2020, fortifying operations, systems, financials, human resources, and overall infrastructure, effectively eliminating any impediment to future rapid growth and revenue expansion, and entered 2021 focused on delivering growth in both our platform and agency businesses. We are highly motivated to continue to exceed the guidance we set for 2021 which we have shown to deliver during this first quarter.”

“In the first quarter of 2021, our agency business increased 73% year-over-year, generating $428,000 in revenue. We have developed a true powerhouse in the form of our Vocal Challenges, which validate our company’s unique brand awareness capabilities and enhance the value provided to our agency clients, while also providing exciting new reward opportunities through cash prizes for our creator communities. The success we witnessed with our first Moleskine-branded Challenge, launched in January, and the subsequent engagement shortly thereafter, has led to a number of new arrangements with other iconic brands such as Fiskars.”

“Since the launch of Vocal+ in early 2020, net quarterly revenues from creator subscriptions have increased nearly tenfold from $36,000 in first quarter 2020 to $307,000 in first quarter 2021. In fact, earlier today we announced that Vocal+ hit a new record milestone, surpassing 25,000 subscribers, and are on track to reach our stated goal of 100,000 paid Vocal+ subscribers by year-end 2021. As we continue to enhance our platform with additional tools and communities, as well as increase the number of challenges and other monetization opportunities for creators, we see a continuation of excitement and expansion from our flourishing creator population.”

“Given the performance we have experienced over the last 45 days, coupled with the close of our recent financing, we are comfortable giving guidance of between $1 million and $1.2 million in net revenues in second quarter 2021, and between $5 and $7 million for full year 2021.”


First Quarter 2021 Financial Highlights 

  • Net revenue: Net revenue for first quarter 2021 increased 154% to $744,000, as compared to the $293,000 in net revenues for first quarter 2020, and exceeded Company guidance of $660,000. The year-over-year increase in quarterly revenues is fully attributed to the steady growth of Vocal+ paid subscribers as well as growth in the Company’s agency businesses, which accounted for approximately 58% of net revenues during the quarter. Agency revenues consist of revenues from Vocal for Brands, which has experienced an acceleration in revenues into the second quarter as a result of securing of new clients as well as contract renewal for existing clients, and Seller’s Choice, or Managed Services, which is benefiting from an increase in monthly service fees and performance marketing revenues. First quarter gross revenues were $756,000, before adjustments due to reward payments made to Vocal+ subscribers, which includes money earned through ‘reads’ on subscribers’ stories and Challenge rewards; gross revenues were in line with the Company’s guidance range of $725,000 to $770,000.
  • Operating Expenses: Operating expenses totaled $6.7 million compared to the prior year first quarter operating expenses of $2.1 million. The year-over-year increase was due to the following:
    • a $993,000 increase in personnel compensation as a result of an increase in headcount, including the addition of corporate officer positions, as well as new hires to support the Company’s growing agency businesses, business intelligence, and financial and accounting departments. Currently, Creatd’s headcount totals approximately 40;
    • a $1.6 million increase in marketing expenditures, which will be actively managed to achieve optimum return on investment, with an eye toward continually lowering subscriber acquisition costs;
    • a $1.5 million in non-cash charges, including stock-based compensation to employees and consultants, and incentive-based options issued to employees;
    • approximately $400,000 in professional services predominantly related to a financing close and S-3; and
    • general ongoing operating expenses, including an increase in research and development of $193,000.

The Company’s average monthly cash burn during first quarter 2021 was approximately $1.8 million, an increase of approximately $1.3 million over the prior year’s average monthly cash burn. The increase is primarily due to the addition of personnel, which is expected to hold steady at this level for the foreseeable future, prepayment of R&D expenditures, full year prepayment of approximately 10% of the Company’s outsourced service fees, higher than usual expenses for professional services due to financings, and a substantial increase attributed to the Company’s first significant marketing campaign, an effort which is expected to be repeated throughout 2021 given its success.

Mr. Frommer commented, “First quarter 2021 we choreographed an important transition for the Company without compromising our revenue expectations. We are near complete in establishing our permanent internal infrastructure while still carrying duplicate outsourced consulting support. As we phase out duplicate functions, which total approximately $100,000 – 200,000 in additional expenditure monthly, and our costs are reduced to a baseline level, we anticipate our efficiencies will increase and our revenues will be positively impacted. In fact, were it not for the necessity of redundancy and non-recurring cost of financings, the first quarter monthly cash burn would have been approximately $1.4 million. With the momentum we are witnessing, and assuming no changes in this baseline monthly cash burn, we believe we may exit 2021 having achieved cashflow breakeven.”

  • Comprehensive Loss: Comprehensive loss for first quarter 2021 totaled $(6.6) million, or $(0.68) per basic and diluted share, which included several, non-cash charges, including employee bonus options issuances for 2020 performance and stock payment to consultants for past services, as well as an extraordinary increase in legal, accounting, and consulting fees related to a financing close, valuation assessments, and remaining debt conversions at the beginning of the quarter. Net of these charges, the first quarter comprehensive loss would have been approximately $(4.6) million, or $(0.42) per basic and diluted share. This compares to a comprehensive loss of $(3.0) million or $(0.96) per basic and diluted share for first quarter 2020.
  • Total Assets: During first quarter, total assets decreased by approximately $4.3 million to $6.4 million, as cash was used to repay approximately $1.2 million in remaining aged payables and debt, $400,000 in professional services related to financings, a $1.6 million increase in marketing spend and an increase in personnel resulting in $993,000 of additional compensation and related expenses.
  • Total Liabilities: Creatd reduced its total liabilities by $868,000 to $4.5 million during the quarter. The Company’s remaining debt consists of $240,000 in convertible notes, of which $164,000 was repaid subsequent to March 31, 2021, and $1.5 million in notes payable of which $675,000 is a Government Payroll Protection Program (“PPP”) loan that carries 1% annual interest (for which a request for loan forgiveness has been submitted) and $660,000 related to the acquisition of Seller’s Choice, a liability that Creatd is litigating. The Company’s accounts payable was reduced $790,000 to $1.8 million following the satisfaction of all aged payables and a portion of current payables.
  • Capitalization: As of March 31, 2021, Creatd had 10.9 million shares of common stock outstanding, an increase of approximately 2.2 million shares from 2020 year-end predominantly due to the conversion of Series E Preferred stock into 1.62 million common shares and the exercise of 333,000 warrants, which generated approximately $1.3 million in additional capital to the Company. The remaining increase in outstanding common stock is attributed to stock-based compensation of approximately 152,000 shares for professional services and 60,000 shares allocated to the Company’s Board of Directors’ Compensation plan retroactive to its reconstitution in mid-2020. The Company’s fully diluted shares increased by 2.8 million during the first quarter, predominantly due to the granting of 1.8 million options from the Company’s 2020 Equity Incentive Plan, 350,000 options issued to the Company’s Board of Directors’ Compensation plan, and 470,000 warrants issued to bankers related to the Series E private placement. Creatd’s fully diluted shares total 19.9 million, of which warrants account for approximately 6.2 million shares with an average strike price of $5.20. Currently, the Company’s shares held by Creatd management, Board of Directors and employees represents over 15% of the fully diluted shares.


First Quarter 2021 Operational Highlights

  • Series E Financing: Creatd announced the closing of its $7.8 million Series E Preferred Stock and accompanying warrants on January 4, 2021. Currently 86% of Series E preferred has converted into common shares with remaining preferred shares totaling 1,088 or 264,078 equivalent common shares.
  • S-3 Effectiveness: The Securities and Exchange Commission declared effective the Company’s Registration Statement on Form S-3, for a total of $50 million in aggregate over time.
  • Private Placement: Subsequent to quarter-end, on May 14, 2021, Creatd closed on a private placement of $4.7 million in principal value of convertible notes with an original issuance discount with three institutional investors, two of whom invested in the prior Series E preferred. The notes are convertible into shares of Creatd’s common stock at $5.00 per share and come with, in aggregate, 1,090,908 warrants, exercisable at $4.50 per share. Created intends to use the gross proceeds of $4 million for general corporate purposes including an increase in its marketing and development spend.
  • Vocal+ Creator Subscriptions: In the first quarter 2021, subscribers to Creatd’s premium subscription program, Vocal+, nearly doubled to over 20,000, as compared to 10,500 subscribers at year-end 2020. Subsequent to the first quarter, the Company announced that Vocal+ reached a new record high, surpassing 25,000 subscribers, and confirmed its expectations to hit its goal of 100,000 paid subscribers by year-end 2021.
  • Vocal Freemium: Vocal’s freemium creator count grew approximately 10% during the first quarter, totaling over 900,000 creators compared to 810,000 creators by year-end 2020. Currently, the Company reports a total of 967,000 freemium Vocal creators, and expects to break one million freemium creators by the end of second quarter 2021; the expanding pool of freemium creators on Vocal has a catalyzing effect on Vocal+ adoption, working to accelerate the rate of conversion to a premium subscription.
  • Vocal Challenges: At its one-year mark, Vocal initiated a Challenge in partnership with Moleskine featuring a $20,000 grand prize, its largest to date, followed by subsequent Challenge collaborations with notable and emerging brands including Decider.com, part of the New York Post Digital Network, owned by News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV,) and DTC wine subscription company, Bright Cellars; importantly, in May 2021, the Company signed its second branded collaboration with Moleskine and materially increased the prize pool. In addition, in mid-May, Creatd launched its first in a series of planned collaborations between Vocal and Fiskars, owned by Fiskars Group (HEL: FSKRS), a multi-billion-dollar lifestyle brand headquartered in Finland. Year-to-date, Vocal has launched a total of 36 Challenges, which represents greater than half of the total number of Challenges launched during the full year of 2020 (59). Notable guest judges for Challenges have included Daniela Ricardi, CEO of Moleskine, Shelley Zalis, founder and CEO of The Female Quotient, and Miranda York, editor and founder of ‘At the Table’ magazine and author of ‘The Food Almanac.’ Vocal’s Challenges feature remains one of the core drivers for year-over-year growth for both the subscription and agency-based businesses, working to both further enhance the value proposition for a creator to upgrade to a premium subscription, while at the same time providing brands with an even deeper way to engage with Vocal’s creator and audience base.
  • Community Launches: Vocal resumed its launch of additional communities with the release of “FYI” and “Confessions,” Vocal’s 35th and 36th niche community sites. Subsequent to the end of the first quarter, Vocal launched its 37thcommunity, “Earth.” The Company expects to continue to launch new communities on Vocal to accommodate the diversified interests and needs of its expanding creator community.
  • New Vocal Monetization Feature: In February 2021, Creatd announced the release of Creator Bonuses as an additional means of monetization for creators: currently, Creators can earn money: (i) every time their story is read, (ii) by competing in Challenges, (iii) by receiving ‘tips’ from audiences, (iv) receiving ‘bonuses’ from Vocal curators, (v) by collaborating on branded content campaigns through the Company’s Vocal for Brands agency.
  • Second Creatd Partner, Untamed Photographer: At year-end 2020, Creatd introduced a new business segment focused on corporate venture opportunities, Creatd Partners, which entered into its first agreement with direct-to-consumer food brand Plant Camp. In April 2021, Creatd announced its second Creatd Partner investment, Untamed Photographer, an online marketplace platform for wildlife photography. In conjunction with the Untamed Photographer launch, the Company additionally announced plans to tokenize the Untamed Photographer library, allowing its photographers and the causes they support to further monetize their unique photographs within the emerging NFT market.
  • OG Gallery: Subsequent to first quarter, Creatd announced an update on its plans to launch the “OG Gallery,” a new NFT art gallery focused on the tokenization, marketing and sale of digital collectibles originating from the OG collection, a library of over 100,000 original photographs, digital artwork, imagery, original documents, illustrations, and collectables by the legendary Bob Guccione, former CEO of General Media and owner of publications including Penthouse, Viva, OMNI and Longevity. Previously, the Company has successfully leveraged this collection for numerous transmedia opportunities including: the documentary film Filthy Gorgeous: The Bob Guccione Story, directed by renowned documentary filmmaker Barry Avrich, which premiered at the Toronto International Film Festival in 2013; the book No One’s Pet, written by notable film critic Glenn Kenny in 2016; and the award-winning 2015 film Till Human Voices Wake Us, directed by celebrity photographer Indrani and starring Lindsay Lohan.
  • Insider Buying: Creatd’s executive management team and Board of Directors continue to purchase shares of the Company’s common stock in the open market, year-to-date collectively purchasing approximately $62,124 (14,220 shares) at an average purchase price of $4.37. Since inception, Company insiders have purchased Creatd common shares either through the open market or by participation in private placements that have subsequently converted into common shares collectively totaling 480,000 common shares and 255,000 warrants.
  • Vocal Product Enhancements: Creatd released significant design and functionality enhancements to Vocal, primarily aimed toward enhancing user Engagement and supporting significant growth of Vocal’s premium subscription. Updates included:
    • a full platform front-end redesign, featuring a more refined navigation experience for Vocal audiences aimed toward increasing creator discoverability and enriching user experience delivered ahead of schedule;
    • the addition of community-specific metrics, highlighting the health, safety, and user volume of both the creators and communities throughout the platform;
    • a new Challenge user interface;
    • front-end framework enhancements;
    • back-end framework and platform infrastructure enhancements;
    • integration and implementation of recurring revenue growth platform to reduce churn and optimize pricing;
    • fundamental accessibility improvements to comply with Web Content Accessibility Guidelines WCAG 2.0 standards;
    • enhanced payment experience by enabling creators to receive Creator Bonuses and Challenge rewards directly to their Vocal Wallet; and
    • The addition of a “Sign in with Apple” option to further streamline user experience.


About Creatd

About Creatd Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology company and the parent company of the Vocal platform. Our mission is to empower creators, entrepreneurs, and brands through technology and partnership. We accomplish this through Creatd’s three main business pillars: Vocal Ventures, Creatd Partners, and Recreatd. For news and updates, subscribe to Creatd’s newsletter: https://creatd.com/newsletter 

Investor Relations Contact: ir@creatd.com


Forward-Looking Statements

Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.


Creatd, Inc.


Condensed Consolidated Balance Sheet

(Unaudited)

 March 31, 2021

December 31, 2020


Assets

(Unaudited) 


Current Assets

Cash                         

$        2,802,772

$           7,906,782

Account receivable, net

151,729

90,355

Prepaid expenses and other current assets

566,727

23,856


Total Current Assets

3,521,228

8,020,993


Property and equipment, net

58,849

56,258


Intangible assets

929,459

960,611


Goodwill

1,035,795

1,035,795


Deposits and other assets

291,836

191,836


Marketable securities

62,733

62,733


Minority investment in business

317,096

217,096


Operating lease right of use asset

219,449

239,158


Total Assets

$         6,436,445

$        10,784,480


Liabilities and Stockholders
‘ Equity (Deficit)


Current Liabilities

Accounts payable and accrued liabilities

$        1,849,136

$        2,638,688

Derivative liabilities

344,404

42,231

Share liability

187,500

Convertible Notes, net of debt discount and issuance costs

239,544

897,516

Current portion of operating lease payable

87,912

79,816

Notes payable – related party, net of debt discount

5,397

Notes payable, net of debt discount and issuance costs

1,423,995

1,221,539

Deferred revenue

148,760

88,637


Total Current Liabilities

4,286,648

4,968,427


Non-current Liabilities:

Note payable

54,298

213,037

Operating lease payable

130,303

157,820


Total Non-current Liabilities  

184,601

370,857


Total Liabilities

4,471,249

5,339,284


Commitments and contingencies


Stockholders’ Equity (Deficit)

Series E Preferred stock, $0.001 par value:  20,000,000 shares authorized

1

8

1,088 and 7,738 shares issued and outstanding, respectively

Common stock, $0.001: 100,000,000 authorized shares
10,925,026 issued and 10,915,676 outstanding as of March 31, 2021 and

8,736,378 issued and 8,727,028 outstanding at December 31, 2020

10,925

8,737

Additional paid-in capital

80,633,380

77,505,013

Subscription receivable

(40,000)

Accumulated deficit

(78,572,159)

(71,928,922)

Accumulated other comprehensive income

(44,545)

(37,234)

Less: Treasury stock, 5,657 and 5,657 shares, respectively

(62,406)

(62,406)


Total Stockholders
‘ Equity (Deficit)

1,965,196

5,445,196


Total Liabilities and Stockholders
‘ Equity (Deficit)

$       6,426,445

$           10,784,480

 


Creatd, Inc.


Condensed Consolidated Statements of Operations

(Unaudited)


Three Months ended



March 31,


2021


2020


Net revenue

$    743,913

$    293,142


Gross margin

743,913

293,142


Operating expenses

   Research and development

328,852

135,570

   General and administrative

6,361,058

1,983,521

   Total operating expenses

6,689,910

2,119,091


   Loss from operations

(5,945,997)

(1,825,949)


Other income (expenses)

   Other income

63,556

   Interest expense

(198,671)

(375,530)

   Accretion of debt discount and issuance cost 

(497,165)

(186,947)

   Derivative expense

(100,502)

   Change in fair value of derivative liability

(197,389)

   Settlement of vendor liabilities

92,909

(126,087)

   Gain (loss) on extinguishment of debt

203,578

(535,040)


   Other income (expenses), net

(697,240)

(1,160,048)


Loss before income tax provision

(6,643,237)

(2,985,997)


Income tax provision


Net loss

$  (6,643,237)

$(2,985,997)

Deemed dividend

Net loss attributable to common shareholders

(6,643,237)

(2,985,997)


Other comprehensive income


   Currency translation gain (loss)

(7,311)

(9,239)


Comprehensive loss

(6,650,548)

(2,995,236)


Per-share data

    Basic and diluted loss per share

$         (0.68)

$       (0.96)

    Weighted average number of common shares outstanding

9,836,443

3,101,387

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/creatd-inc-reports-record-first-quarter-2021-financial-results-301292973.html

SOURCE Creatd, Inc.

CNA Announces Susan Stone as EVP & General Counsel

PR Newswire

CHICAGO, May 17, 2021 /PRNewswire/ — CNA today announced the appointment of Susan Stone as Executive Vice President and General Counsel, effective June 28, 2021. In this role, Stone will lead the Company’s Law Department and serve as the principal counsel for CNA on all legal matters including legal consultation across domestic and international business operations, compliance, regulatory and government affairs, securities law, and company litigation.  She will report to Dino E. Robusto, Chairman and Chief Executive Officer at CNA.

“Susan is eminently skilled, bringing over three decades of extensive legal experience to the role,” Robusto said. “In addition, her proven track record at leading varied teams, fostering collaborative relationships with government and industry trade organizations, and building collaborative business partnerships will ensure that we continue to profitably grow our business with full integrity.”

Stone joins CNA with over 30 years of legal experience, in both the private sector and as a federal prosecutor. Most recently, she served as General Counsel and Executive Committee Member at Marsh LLC, and had oversight over litigation, transactional, regulatory, and compliance matters for a heavily regulated insurance broking and risk advisory business. Prior to Marsh, Stone was an Executive Committee Member, Practice Group Head, and Partner at Sidley Austin LLP.

Stone earned a bachelor’s degree from Yale University and a law degree from Harvard Law School.  She has served on multiple civic and philanthropic Boards of Directors, including WCCI/WTTW Public Television, Roosevelt University, Erikson Institute and the Women’s Board of the Joffrey Ballet.

About CNA 
CNA is one of the largest U.S. commercial property and casualty insurance companies. Backed by more than 120 years of experience, CNA provides a broad range of standard and specialized insurance products and services for businesses and professionals in the U.S., Canada and Europe.

Media Contact:  
Chris Stroisch 
309.846.0929 
chris.stroisch@cna.com

Allyson Marcus 
267.994.9052 
allyson.marcus@kemperlesnik.com

 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/cna-announces-susan-stone-as-evp–general-counsel-301292969.html

SOURCE CNA

In Mixed Ruling for NCLA Clients, District Judge Says CFPB Rule Does Not Apply in Sixth Circuit

The Property Management Connection, LLC, et al. v. Dave Uejio, Consumer Financial Protection Bureau, et al.

Washington, D.C., May 17, 2021 (GLOBE NEWSWIRE) — The New Civil Liberties Alliance is celebrating a partial win for housing providers in Kentucky, Michigan, Ohio, and Tennessee. The U.S. District Court for the Middle District of Tennessee indicated after hours on Friday that an Interim Final Rule issued by the Consumer Financial Protection Bureau (CFPB) does not apply in the Sixth Circuit according to its own terms. The decision effectively shields housing providers in these states who, under the CFPB Rule, otherwise would face liability if they failed to make false and misleading statements to delinquent tenants facing eviction.

NCLA, a nonpartisan, nonprofit civil rights group, represents The Property Management Connection, attorney Gordon Schoeffler, and the National Association of Residential Property Managers in a challenge against CFPB’s Interim Final Rule, Debt Collection Practices in Connection With the Global COVID-19 Pandemic. The Rule, implemented May 3, 2021, without public comment, required that anyone who seeks to collect unpaid residential rent must falsely inform tenants subject to eviction, in writing, that they are entitled to protection under the unlawful nationwide Halt Order on evictions issued by the Centers for Disease Control and Prevention (CDC).  

On September 1, 2020, CDC issued its nationwide eviction moratorium. Since then, the Halt Order has been successfully challenged across the country, notably in the Sixth Circuit case Tiger Lily, LLC, et al. v. HUD, et al., in which NCLA filed an amicus brief. CFPB disclaimed the Sixth Circuit’s Tiger Lily decision as not being “a binding Circuit decision on the merits of the case.” But the Sixth Circuit did not equivocate; a panel of judges held in a published opinion that Congress did not “grant the CDC the power it claims” underlying the Halt Order. In its decision, the U.S. District Court for the Middle District of Tennessee said Tiger Lily is binding precedent. Hence, neither the CDC Halt Order nor the CFPB Rule applies to the Plaintiffs or to any other person in the four states that comprise the Sixth Circuit.

Under the CDC Order, housing providers cannot obtain evictions, but if they default on their mortgages and lose their properties, the banks can evict! CFPB put these housing providers in a further impossible position when the agency violated their First Amendment rights by ordering them to make false and inaccurate disclosures about the invalid Halt Order. CFPB chose to ignore the dilemma facing housing providers, but NCLA commends the District Court for righting this wrong in the Sixth Circuit. NCLA will move for summary judgment and seek a final declaratory ruling, to protect all housing providers from the CFPB Rule.

NCLA released the following statements:

“While CFPB has insisted that housing providers within the Sixth Circuit are bound to make false statements to tenants about an invalid eviction moratorium, the District Court resoundingly rejected that idea and declared the Rule inapplicable within this jurisdiction. The District Court also encouraged other courts to follow its lead in rejecting CFPB’s lawless power grab.”
Caleb Kruckenberg, Litigation Counsel, NCLA

 “CFPB cannot make people lie about the unlawful actions of the CDC in the Sixth Circuit. Soon, if agencies are held to their lawful scope, it won’t be able to do so in the other circuits either.”    
John Vecchione, Senior Litigation Counsel, NCLA

For more information visit the case page
here
.

ABOUT NCLA

NCLA is a nonpartisan, nonprofit civil rights group founded by prominent legal scholar Philip Hamburger to protect constitutional freedoms from violations by the Administrative State. NCLA’s public-interest litigation and other pro bono advocacy strive to tame the unlawful power of state and federal agencies and to foster a new civil liberties movement that will help restore Americans’ fundamental rights.

###



Judy Pino
New Civil Liberties Alliance
202-869-5218
judy.pino@ncla.legal

The State Bank Announces Appointment of Kelly Myers to Fentura Financial, Inc. Corporate Board of Directors

FENTON, Mich., May 17, 2021 (GLOBE NEWSWIRE) — Fentura Financial, Inc. and The State Bank are excited to announce the appointment of Kelly Myers to the Board of Directors for both Fentura Financial, Inc. and The State Bank.

Kelly Myers holds a Bachelor of Arts degree from Alma College, where she majored in history and business with a pre-law emphasis. She also received her Juris Doctor from the University of Detroit School of Law, her Master of Business Administration from the University of Detroit and countless educational honors.

In 2004, she started Myers & Myers, PLLC – a practice that focuses on real estate (transactional and litigation), commercial litigation, corporate law, creditor rights, bankruptcy and banking. She is a member of several National and Local organizations, including the State Bar of Michigan, the Michigan Land Title Standards Committee and the Michigan Bankers Association.

“Appointing Kelly Myers to our board means we will not only have invaluable expertise at our fingertips, but also ensures another local, community voice is given a spot at the table. We are excited to have Kelly on our Board and look forward to a long-standing partnership,” said Ron Justice, President and CEO of Fentura Financial, Inc. and The State Bank. “There are few people who can match her academic and business achievements, and that will prove as an invaluable asset to our leadership.”

About Fentura Financial, Inc. and The State Bank – Fentura Financial, Inc. is the holding company for The State Bank. It was formed in 1987 and is traded on the OTCQX exchange under the symbol FETM. The State Bank is a full-service, 5-star Bauer Financial-rated commercial, retail and trust bank, based in Fenton, MI. As of March 31, 2021, it had assets of $1.30 billion and currently operates 17 full-service offices in Genesee, Livingston, Oakland, Saginaw, and Shiawassee counties. The State Bank believes in the potential of banking to help create better lives, better businesses, and better communities, and works to achieve this through its full array of consumer, mortgage, SBA, commercial and wealth management banking and advisory services, together with philanthropic and volunteer support to organizations and groups within the communities it serves.

Media Contact:

Kristy Schaffer
Senior Vice President of Human Resources and Marketing
(810) 714-3983
Kristy.schaffer@thestatebank.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e5340909-977c-459c-a844-bf67dc1e872b



Nutrien Declares Quarterly Dividend of US$0.46 per Share

Nutrien Declares Quarterly Dividend of US$0.46 per Share

SASKATOON, Saskatchewan–(BUSINESS WIRE)–
Nutrien Ltd (TSX and NYSE: NTR) announced today that its Board of Directors has declared a quarterly dividend of US$0.46 per share payable on July 16, 2021, to shareholders of record on June 30, 2021.

Registered shareholders who are residents of Canada as reflected in Nutrien’s shareholders register, as well as beneficial holders (i.e., shareholders who hold their common shares through a broker or other intermediary) whose intermediary is a participant in CDS Clearing and Depositary Services Inc. or its nominee, CDS & Co., will receive their dividend in Canadian dollars, calculated based on the Bank of Canada daily average exchange rate on June 30, 2021. Registered shareholders resident outside of Canada as reflected in Nutrien’s shareholders register, including the United States, as well as beneficial holders whose intermediary is a participant in The Depository Trust Company or its nominee, Cede & Co., will receive their dividend in US dollars. However, registered shareholders of Nutrien may elect to change the currency of their dividend payments to US dollars or Canadian dollars, as applicable. In addition, Nutrien offers registered shareholders direct deposit by electronic funds transfer for dividend payments.

Registered shareholders may elect to change the currency of their dividend and enroll for direct deposit by contacting, Nutrien’s registrar and transfer agent, Computershare Investor Services Inc., directly (1-800-564-6253 or service@computershare.com). Beneficial shareholders should contact their broker or other intermediary to determine the ability and necessary steps involved in an election to change the currency of their dividend payment. For further details, please visit www.nutrien.com/investors/shareholder-information/dividends.

All dividends paid by Nutrien are, pursuant to subsection 89(14) of the Income Tax Act (Canada), designated as eligible dividends.

About Nutrien

Nutrien is the world’s largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute 27 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders.

Investor Relations

Richard Downey

Vice President, Investor Relations

(403) 225-7357

Tim Mizuno

Director, Investor Relations

(306) 933-8548

Media Relations

Megan Fielding

Vice President, Brand & Culture Communications

(403) 797-3015

Contact us at: www.nutrien.com

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Agriculture Natural Resources Other Natural Resources

MEDIA:

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Arco Announces Appointment of New Director

Arco Announces Appointment of New Director

SÃO PAULO, Brazil–(BUSINESS WIRE)–Arco Platform Limited, or Arco (Nasdaq: ARCE),announced today that it has appointed Paula Soares de Sá Cavalcante to its Board of Directors, effective as of today.

The appointment of Ms. Cavalcante, a shareholder from Arco’s founding family, is part of a long-term succession plan for Mr. Oto de Sá Cavalcante and reinforces the family’s long-term commitment to Arco.

Ms. Cavalcante holds a bachelor’s degree in Business Administration from the University of Fortaleza and a postgraduate degree in Finance from Insper. She worked at Deloitte in the auditing and mergers and acquisitions areas for 4 years.

Arco’s Board of Directors is now composed of three members of the controlling family, including its non-executive Chairman, its CEO, and Ms. Cavalcante, and seven independent members, resulting in a diversity of skills and experience to enhance Arco’s decision-making and accelerate its mission of delivering high quality education at scale:

Name

 

Position

Oto Brasil de Sá Cavalcante

 

Chairman

Ari de Sá Cavalcante Neto

 

Director

Paula Soares de Sá Cavalcante

 

Director

Beatriz Amary

 

Independent Director

Carla Schmitzberger

 

Independent Director

David Peixoto dos Santos

 

Independent Director*

Edward Ruiz

 

Independent Director*

Martin Escobari

 

Independent Director

Pablo Doberti

 

Independent Director*

Stelleo Tolda

 

Independent Director

* Member of Arco’s Audit Committee.

About Arco Platform Limited (Nasdaq: ARCE)

Arco has empowered hundreds of thousands of students to rewrite their futures through education. Our data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience with while enabling schools to thrive.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof and are based on Arco’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of Arco’s Class A common shares, and are subject to several known and unknown uncertainties and risks, many of which are beyond Arco’s control. Therefore, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented. Arco does not undertake any obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors.

Investor Relations Contact

Arco Platform Limited

IR@arcoeducacao.com.br

Carina Carreira

KEYWORDS: South America Brazil

INDUSTRY KEYWORDS: Technology Other Education Continuing Training University Preschool Primary/Secondary Data Management Education

MEDIA:

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