Author: Newsdesk

Posted on

Renowned Indigenous Artist Utilized Racist Shrine Sculpture to Document Contemporary Racism

Santa Fe, NM, Nov. 23, 2020 (GLOBE NEWSWIRE) — Acclaimed Indigenous artist Bob Haozous has installed his newest sculpture – one that speaks to the various forms of racism. Haozous said “the shrine belongs to all of us and is aimed to generate discussion and to educate us about the racism perpetuated by contemporary concepts of individualism and capitalism. It is especially important this decade of heightened racial division.”

The son of famed artist Allan Houser, Haozous has drawn inspiration from his Apache culture, Indigenous and world art, and from his father’s artworks. “I’ve wanted to make this statement for many years,” said Haozous, artist and Executive Director of the Allan Houser Foundation. “While we can look to the news today and see extensive coverage regarding racism, we must do more than just acknowledge and dismiss its existence. For once we have finally unveiled the various ways in which racism exists in every facet of life, we can now open up a long-needed dialog. The vocational focus of Indigenous art has long been driven by economics, profit, and material gain thanks to the colonizing influences of western culture. Historically Indigenous art was never valued as a commodity, but as a method of conversation, education, and a place of healing. It is this knowledge that give enormous value of the Indigenous statement to the world.”

A 48’ tall shrine made of mild steel, the sculpture captures various instances of racism, covering the wide range from caste, gender, ethnic, regional, economic, cultural, political, religious, educational, institutional, and environmental, plus countless others.

“At this time in our world’s history, we’ve openly unmasked the racist horrors of modern man,” added Haozous. “We are so easily entertained that we immediately go about our lives as if we are unaffected by the devastating effects of racism with no further reflection. We put these concerns aside like an unread book on a shelf, without knowing that its story is etched in our hearts and souls. It is my hope that people realize that you cannot change unless you confront what is in front of us.”

“Placing the Racist Shrine next to my father’s beautiful work is juxtaposing the beauty and the beast,” added Haozous. “Allan Houser’s work is of such beauty that it can transcend all cultures, while at the same time his fundamental message was ‘self-honesty.’ That message is my driving force. Though this sculpture symbolically represents the beast, its truth is beautiful.”

The Racism Shrine is located at HAOZOUS PLACE in Santa Fe, New Mexico, USA. To view drone footage of the sculpture, visit https://vimeo.com/481821079.

The mission of HAOZOUS PLACE is to provide an immersive experience that educates the international community about the importance of the long dismissed Indigenous statement and of Allan Houser-Haozous to contemporary art. Tours and options will encompass the sculpture garden, gallery, archive/museum complex, and education center which Mr. Houser inspired. Allan Houser/Haozous’s cultural heritage and vision will promote Indigenous culture, creativity, and history. More information can be found on the website www.haozousplace.org or by telephone (505) 471 7409.

Attachments 



Joanie Griffin
Haozous Place
505-261-4444
[email protected]

Posted on

ROSEN, A LEADING LAW FIRM, Reminds HP Inc. Investors of Important Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $100K to Contact the Firm – HPQ

NEW YORK, Nov. 23, 2020 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of HP Inc. (NYSE: HPQ) between November 6, 2015 and June 21, 2016, inclusive (the “Class Period”) of the important January 4, 2021 lead plaintiff deadline in the case. The lawsuit seeks to recover damages for HP investors under the federal securities laws.

To join the HP class action, go to http://www.rosenlegal.com/cases-register-1982.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made representations about HP’s revenues, profits, and prospects which were each false and misleading when made. According to the lawsuit, the true facts which were then known to or recklessly disregarded by defendants, included: (1) HP’s channel inventory management and sales practices resulted in the sale of supplies to customers that did not need or want the product in order to artificially increase revenues and profits; (2) HP’s channel inventory management and sales practices resulted in the sale of supplies to customers outside of designated regions at unsustainable discounts in order to artificially increase revenues and profits; (3) HP’s channel inventory management and sales practices resulted in the sale of supplies at steep discounts to customers to encourage those customers to sell the supplies further down the supply channel, out of HP’s inventory management metrics; and (4) as a result, defendants’ statements about HP’s business condition and prospects were materially false and misleading when made. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 4, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1982.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com



Posted on

Partners Value Investments L.P. Announces 2020 Third Quarter Results

TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (the “Partnership” TSX: PVF.UN TSX:PVF.PR.U) announced today its financial results for the three months ended September 30, 2020. All amounts are stated in US dollars.

The Partnership recorded an increase in net book value during the period of $0.45 to $43.05 per unit ($3.8 billion). The increase is primarily due to an increase in the quoted market price of Brookfield Asset Management common shares and investment valuation gains, partially offset by foreign currency losses. The Partnership generated a net income of $2 million for the quarter ended September 30, 2020 compared to $14 million in the prior year period.

The market price of a Brookfield share was $33.06 per share on September 30, 2020 compared to $32.90 per share on June 30, 2020.

Consolidated Statements of Operations

(unaudited)

For the
period
ended
September
30

(Thousands,
US dollars
)
 Three Months Ended   Nine Months Ended
  2020     2019     20
20 		    2019
Investment income                      
Dividends $ 17,906   $ 16,252   $ 56,140   $ 52,919
Other investment income   1,061     1,634     2,184     7,417
    18,967     17,886     58,324     60,336
Expenses                      
Operating expenses   (142
) 		    (190)     (984
) 		    (2,314)
Financing costs   (571
) 		    (29)     (722
) 		    (200)
Retractable preferred share dividends   (6,774
) 		    (5,498)     (18,691
) 		    (18,628)
    11,480     12,169     37,927     39,194
Other items                      
Investment valuation gains (losses)   3,746     (12,137)     (10,298
) 		    (1,266)
Amortization of deferred financing costs   (625
) 		    (498)     (1,748
) 		    (2,224)
Current taxes expense   (
1,
820
) 		    4,005     (
1,946
) 		    (6,083)
Deferred taxes (expense) recovery   (4
59
) 		    776     (
2,662
) 		    5,936
Foreign currency (losses) gains   (10,60
5
) 		    9,949     43,10
9 		    (27,238)
Net income $ 1,717   $ 14,264   $ 64,382   $ 8,319

Change in
Net Book Value

The information in the following table shows the changes in net book value:

For the
period
ended
September
30

(Thousands, except per unit amounts)
 Three Months Ended   Nine
Months Ended
  Total     Per Unit     Total     Per Unit
Net book value, beginning of period1 $ 3,756,487   $ 42.60   $ 4,365,103   $ 49.50
Net (loss) income2   (
1,119
) 		    (0.0
1
) 		    5
5,876 		    0.
63
Other comprehensive income (loss)2   48,998     0.5
6 		    (62
8,642
) 		    (7.12
)
Adjustment for impact of warrant3   (5,343
) 		    (0.06
) 		    6,778     0.08
Equity LP repurchase   (3,306
) 		    (0.04
) 		    (3,398
) 		    (0.04
)
Net book value, end of period1,4,5 $ 3,79
5,717 		  $ 43.0
5 		  $ 3,79
5,717 		  $ 43.0
5
  1. Calculated on a fully diluted basis, net book value is
    a
    non-IFRS measure.
  2. Attributable to Equity Limited Partners
    .
  3. The basic weighted average number of Equity Limited Partnership (
    “
    Equity LP
    ”
    ) units outstanding during the
    period
    ended
    September
    30, 2020
    was
    73,373,531
    .
    The diluted weighted average number of Equity Limited Partnership (“Equity LP”) units available and outstanding
    for
    the
    three and nine months
    ended
    September 30, 2020
    was
    88,
    111
    ,
    953 and 88,126,845, respectively
    ; this includes the
    14,708,666
    Equity LP units issuable on the exercise of all outstanding warrants
    .
  4. At the end of the period, the diluted Equity LP units outstanding were
    88,082,
    197
    (
    December 31, 2019
    – 88,
    181,996
    ).
  5. Net book value is a non-IFRS measure and is equal to total equity less General Partner
    equity and Preferred Limited Partners’ equity, plus the value of consideration to be received on exercising of warrants, which as at
    September
    30, 2020
    was
    $35
    8
    million
    (
    December 31, 2019
    – $
    367
    million).

Financial Profile

The Partnership’s principal investment is its interest in approximately 129 million Class A Limited Voting Shares (“Brookfield shares”) of Brookfield, on a post-split basis. This represents approximately a 9% interest as at September 30, 2020. In addition, the Company owns a diversified investment portfolio of marketable securities.

The information in the following table has been extracted from the Partnership’s Statement of Financial Position:

As at

(Thousands, US dollars, except per share amounts) 		  September
30
,
20
20 		    December 31,
2019
Assets          
Cash and cash equivalents $ 177,211   $ 99,497
Investment in Brookfield Asset Management Inc. 1   4,256,757     4,961,496
Other investments carried at fair value   423,725     266,572
Accounts receivable and other assets   31,160     19,445
  $ 4,88
8,853 		  $ 5,347,010
Liabilities and Equity          
Accounts payable and other liabilities $ 15,620   $ 21,195
Corporate borrowings   112,620     —
Preferred shares2   553,251     454,076
Deferred taxes3   520,604     608,876
    1,202,095     1,084,147
Equity          
Common equity   3,68
6,758 		    4,262,863
  $ 4,88
8,853 		  $ 5,347,010
           
  1. The investment in Brookfield Asset Management Inc. consists of
    approximately 129
    million Brookfield shares
    on a post-split basis
    with a quoted market value
    of
    $33.06
    per share as at
    September
    30, 2020
    (
    December 31, 2019
    – $38.
    53
    ).
  2. Represents
    $5
    63
    million
    of retractable preferred shares less
    $
    10
    million
    of unamortized issue costs as at
    September
    30, 2020
    (
    December 31, 2019
    – $
    462
     million less $
    8
    million).
  3. The deferred tax liability represents the potential future income tax liability of the Partnership recorded for accounting purposes based on the difference between the carrying values of the Partnership’s assets and liabilities and their respective tax values, as well as giving effect to estimated capital and non-capital losses.

For further information, contact Investor Relations at [email protected] or 416-956-5142.

Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information. Forward-looking information in this news release includes statements with regard to the Company’s potential future income taxes.

Although the Company believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the
Company
to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements and information include, but are not limited to: the financial performance of Brookfield Asset Management Inc., the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws, catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company’s documents filed with the securities regulators in Canada.

The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the
Company
undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

 



Posted on

Vinco Ventures, Inc. Reports Financial Results for the Third Quarter Ended September 30, 2020

Announces Third Quarter 2020 Earnings Conference Call

Bethlehem, P.A., Nov. 23, 2020 (GLOBE NEWSWIRE) — Vinco Ventures (f/k/a Edison Nation, Inc.) (NASDAQ:BBIG), today announced results for the third quarter ended September 30, 2020.


Company Highlights

  • Revenue increased 20.34% for the three months ended September 30, 2020 versus the three months ended September 30, 2019.
  • Formation of Vinco Ventures, Inc. that merged with Edison Nation, Inc., the surviving corporation being Vinco Ventures, Inc.
  • Commence trading under new ticker “BBIG” and launched the “Be Big” corporate strategy: Buy, Innovate and Grow through acquisitions, and digital traffic.
  • Closed on a Purchase and Sale Agreement to acquire all outstanding membership units of TBD Safety, LLC; the assets purchased, including 911 Help Now.
  • Formation of Honey Badger Media, LLC a full-service content monetization company, which was launched through transactions with Honey Badger Media, LLC.
  • Introduced new Chief Strategy Officer Brian McFadden, who will concentrate on the new “Be Big” strategy and will lead the charge on targeting acquisitions that ensures long term growth.
  • Welcomed new Vice President of Branding and Media Content, Laurie Argall. Laurie has the unique ability to identify what will trend and has driven traffic to websites in excess of over 150 million unique visitors monthly. She also contributes an impressive network of influencers, content creators and celebrities.


Third Quarter 2020 Financial Summary Revenue (Three Months)

  • Third quarter 2020 revenue increased to $4.25 million as compared to $3.53 million, a 20.34% increase
  • Third quarter 2020 gross profit increased by $593,696 as compared to third quarter 2019 gross profit, an increase of 60.06%.
  • Third quarter 2020 gross margin increased to 37.2% as compared to third quarter 2019 gross margin of 28.0%


Third Quarter 2020 Financial Summary Revenue (Nine Months)

  • Third quarter 2020 revenue decreased to $14.80 million as compared to $15.24 million, a 2.89% decrease.
  • Third quarter 2020 gross profit decreased by $4,343 as compared to third quarter 2019 gross profit, a decrease of 0.09%.
  • Third quarter 2020 gross margin increased to 32.6% as compared to third quarter 2019 gross margin of 31.7%.


Net Loss

  • Net loss in the third quarter of 2020 was $2.87 million, or ($0.30) per basic and diluted share, compared to a net loss of $2.63 million, or ($0.44) per basic and diluted share in the third quarter of 2019.
  • Net loss for the first nine months of 2020 was $3.20 million, or ($0.29) per basic and diluted share, compared to a net loss of $5.78 million, or ($1.00) per basic and diluted share in the third quarter of 2019.


Adjusted EBITDA

  • Adjusted EBITDA, a non-GAAP measure, totaled a negative $0.183 million in the third quarter of 2020, compared to a negative $1.317 million in the third quarter of 2019.
  • Adjusted EBITDA, a non-GAAP measure, totaled negative $1.100 million in the first nine months of 2020, compared to negative $1.511 million in the first nine months of 2019.

See below, under the heading “Use of Non-GAAP Financial Information,” for a discussion of Adjusted EBITDA and a reconciliation of such measure to the most comparable measure calculated under U.S. generally accepted accounting principles (“GAAP”).

    Three Months
Ended September 30, 		    Nine Months
Ended September 30, 		 
    2020     2019     2020     2019  
Net (loss) income   $ (2,871,483 )   $ (2,631,204 )   $ (3,204,130 )   $ (5,784,666 )
                                 
Interest expense, net     1,004,624       349,172       2,575,735       875,036  
Income tax expense     –       –       –       74,200  
Depreciation and amortization     326,437       318,449       938,843       952,019  
EBITDA     (1,540,422 )     (1,963,583 )     310,448       (3,883,411 )
Stock-based compensation     1,176,595       168,097       2,765,022       876,585  
Restructuring and severance costs     168,074       153,182       599,219       324,164  
Transaction and acquisition costs     –       224,370       82,736       447,908  
Other non-recurring costs     13,109       100,772       53,969       724,137  
Gain on divestiture     –       –       (4,911,760 )     –  
Adjusted EBITDA   $ (182,644 )   $ (1,317,162 )   $ (1,100,366 )   $ (1,510,617 )


Management Commentary

Chris Ferguson, Chief Executive, commented, “With the addition of the Vinco team and Honey Badger’s digital traffic, Vinco is well positioned to execute our Buy Innovate Grow strategy utilizing a solid engine to drive results. Mr. Ferguson continued, “The growth in revenue and gross profit on a year over year basis and the continued reduction of cash-based operating expenses illustrates the positive effect of our collective efforts as a company and provides a strong foundation for 2021 and beyond.”

Third Quarter 2020 Earnings Conference Call

The Company is pleased to announce that it will hold its Third Quarter 2020 Earnings Conference Call on Friday, November 27, 2020 at 9:00 am Eastern Time, which will be presented by Mr. Christopher Ferguson – Chief Executive Officer, and Mr. Brett Vroman – Chief Financial Officer.

The Company encourages shareholders to submit questions to the Company at [email protected] by 9:00 pm Eastern Time on Tuesday, November 24, 2020. The Company’s management will gladly answer as many questions as possible within the time allotted.

The conference call can be accessed through the following numbers:

1-877-407-0782 (U.S. participants)
1-201-689-8567 (International participants)

To access the live webcast presentation, visit:
https://www.webcaster4.com/Webcast/Page/2479/39007
A webcast replay will be available until November 25, 2021.

Conference Replay:

A teleconference replay will be available until December 11, 2020.
1-877-481-4010 (U.S. participants)
1-919-882-2331 (International participants)
Passcode: 39007

About Vinco Ventures, Inc.

Vinco Ventures, Inc. (BBIG) is a mergers and acquisition company focused on digital commerce and consumer brands. Vinco’s B.I.G. (Buy. Innovate. Grow.) strategy will seek out acquisition opportunities that are poised for scale and grow said acquisitions through targeted traffic and content campaigns. For more information, please view our investor presentation or visit Investors.vincoventures.com.


Use of Non-GAAP Financial Information

EBITDA and Adjusted EBITDA is a financial measure that is not calculated in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Management believes that because Adjusted EBITDA excludes (i) certain non-cash expenses (such as depreciation, amortization and stock-based compensation) and (ii) expenses that are not reflective of the Company’s core operating results over time (such as restructuring costs, litigation or dispute settlement charges or gains, and transaction-related costs), this measure provides investors with additional useful information to measure the Company’s financial performance, particularly with respect to changes in performance from period to period. Edison Nation management uses EBITDA and Adjusted EBITDA (a) as a measure of operating performance; (b) for planning and forecasting in future periods; and (c) in communications with the Company’s Board of Directors concerning Edison Nation’s financial performance. The Company’s presentation of EBITDA and Adjusted EBITDA are not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation and should not be used by investors as a substitute or alternative to net income or any measure of financial performance calculated and presented in accordance with U.S. GAAP. Instead, management believes EBITDA and Adjusted EBITDA should be used to supplement the Company’s financial measures derived in accordance with U.S. GAAP to provide a more complete understanding of the trends affecting the business.


Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing the Company’s views as of any subsequent date. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including consumer, regulatory and other factors affecting demand for the Company’s products, any difficulty in marketing the Company’s products in global markets, competition in the market for consumer products and inability to raise capital to fund operations and service the Company’s debt. Additional information that could lead to material changes in the Company’s performance is contained in its filings with the SEC. The Company is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.

Vinco Ventures, Inc. and Subsidiaries

(f/k/a Edison Nation, Inc.)

CONDENSED CONSOLIDATED BALANCE SHEETS

    September 30,

2020 		    December 31,

2019 		 
      (Unaudited)          
Assets                
Current assets:                
Cash and cash equivalents   $ 384,604     $ 412,719  
Accounts receivable, net     3,145,530       2,108,099  
Inventory     1,515,351       1,369,225  
Prepaid expenses and other current assets     1,529,709       917,433  
Income tax receivable     147,889       147,889  
Total current assets     6,723,083       4,955,365  
Property and equipment, net     1,012,375       931,968  
Right of use assets – operating leases, net     505,933       732,100  
Intangible assets, net     10,772,241       11,598,063  
Goodwill     5,392,123       5,392,123  
Total assets   $ 24,405,755     $ 23,609,619  
                 
Liabilities and stockholders’ equity                
Current liabilities:                
Accounts payable   $ 3,024,689     $ 7,397,650  
Accrued expenses and other current liabilities     1,620,230       1,594,669  
Deferred revenues     1,009,838       159,591  
Current portion of operating lease liabilities     279,719       272,215  
Income tax payable     8,151       22,919  
Line of credit, net of debt issuance costs of $0 and $15,573, respectively     1,616,668       456,995  
Current portion of convertible notes payable, net of debt issuance costs of $61,997 and $0, respectively     498,002       –  
Current portion of notes payable, net of debt issuance costs of $148,278 and $212,848, respectively     821,092       1,365,675  
Current portion of notes payable – related parties     1,214,698       1,686,352  
Due to related party     22,005       17,253  
Total current liabilities     10,115,092       12,973,319  
Operating lease liabilities, net of current portion     255,100       482,212  
Convertible notes payable – related parties, net of debt discount of $291,667 and $366,666 related to the conversion feature, respectively     1,136,495       1,061,495  
Notes payable, net of current portion     821,271       42,492  
Notes payable – related parties, net of current portion     1,452,815       1,595,669  
Total liabilities     13,780,773       16,155,187  
Commitments and contingencies (Note 8)                
                 
Stockholders’ equity                
Preferred stock, $0.001 par value, 30,000,000 shares authorized; 0 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively   $  –     $  –  
Common stock, $0.001 par value, 250,000,000 shares authorized; 11,893,291 and 8,015,756 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively     11,893       8,016  
Additional paid-in-capital     33,427,702       26,259,575  
Accumulated deficit     (21,684,394 )     (18,495,461 )
Total stockholders’ equity attributable to Edison Nation, Inc.     11,727,806       7,772,130  
Noncontrolling interests     (1,130,219 )     (317,698 )
Total stockholders’ equity     10,624,982       7,454,432  
Total liabilities and stockholders’ equity   $ 24,405,755     $ 23,609,619  

Vinco Ventures, Inc. and Subsidiaries

(f/k/a Edison Nation, Inc.)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

    For the Three Months
Ended September 30, 		    For the Nine Months
Ended September 30, 		 
    2020     2019     2020     2019  
Revenues, net   $ 4,251,147     $ 3,532,645     $ 14,798,283     $ 15,239,434  
Cost of revenues     2,668,864       2,544,058       9,977,060       10,413,868  
Gross profit     1,582,283       988,587       4,821,223       4,825,566  
                                 
Operating expenses:                                
Selling, general and administrative     3,474,844       3,296,323       10,438,487       9,738,107  
Operating loss     (1,892,561 )     (2,307,736 )     (5,617,264 )     (4,912,541 )
                                 
Other (expense) income:                                
Rental income     25,704       25,704       77,111       77,111  
Other income     –       –       4,911,760       –  
Interest expense     (1,004,626 )     (349,172 )     (2,575,737 )     (875,036 )
Total other (expense) income     (978,922 )     (323,468 )     2,413,134       (797,925 )
Loss before income taxes     (2,871,483 )     (2,631,204 )     (3,204,130 )     (5,710,466 )
Income tax expense     –       –       –       74,200  
Net loss     (2,871,483 )     (2,631,204 )     (3,204,130 )     (5,784,666 )
Net income (loss) attributable to noncontrolling interests     (37,439 )     (49,103 )     (15,198 )     (31,858 )
Net loss attributable to Vinco Ventures, Inc.   $ (2,834,044 )   $ (2,582,101 )   $ (3,188,932 )   $ (5,752,808 )
Net loss per share                                
– basic and diluted   $ (0.30 )   $ (0.44 )   $ (0.29 )   $ (1.00 )
Weighted average number of common shares outstanding – basic and diluted     9,324,023       5,834,167       10,853,242       5,733,379  

Vinco Ventures, Inc. and Subsidiaries

(f/k/a Edison Nation, Inc.)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

    Nine Months Ended September 30,  
    2020     2019  
Cash Flow from Operating Activities                
Net loss attributable to Vinco Ventures, Inc.   $ (3,188,932 )   $ (5,752,808 )
Net loss attributable to noncontrolling interests     (15,198 )     (31,858 )
Net loss     (3,204,130 )     (5,784,666 )
Adjustments to reconcile net loss to net cash used in operating activities:                
Depreciation and amortization     938,844       952,019  
Amortization of financing costs     2,015,422       658,126  
Stock-based compensation     2,765,022       876,585  
Amortization of right of use asset     226,167       217,189  
Gain on divestiture     (4,911,760 )     –  
Changes in assets and liabilities:                
Accounts receivable     (1,037,432 )     (12,355 )
Inventory     (146,126 )     (182,370 )
Prepaid expenses and other current assets     (612,276 )     (667,836 )
Accounts payable     (367,355 )     1,413,425  
Accrued expenses and other current liabilities     1,237,169       549,072  
Operating lease liabilities     (219,608 )     –  
Repayment of operating lease liabilities     –       (199,589 )
Due from related party     4,753       (117,786 )
Net cash used in operating activities     (3,311,310 )     (2,298,186 )
                 
Cash Flows from Investing Activities                
Purchases of property and equipment     (193,429 )     (113,612 )
Net cash used in investing activities     (193,429 )     (113,612 )
                 
Cash Flows from Financing Activities                
Borrowings under lines of credit     1,144,100       249,370  
Borrowings under convertible notes payable     1,660,000       1,111,111  
Borrowings under notes payable     1,739,852       1,670,000  
Repayments under lines of credit     –       (340,766 )
Repayments under notes payable     (947,127 )     (570,587 )
Repayments under notes payable – related parties     (14,508 )     (82,612 )
Fees paid for financing costs     (33,762 )     (463,146 )
Distributions     (71,931 )     –  
Net cash provided by financing activities     3,476,624       1,573,370  
Net increase (decrease) in cash and cash equivalents     (28,115 )     (838,428 )
Cash and cash equivalents – beginning of period     412,719       2,052,731  
Cash and cash equivalents – end of period   $ 384,604       1,214,303  
                 
Supplemental Disclosures of Cash Flow Information                
Cash paid during the period for:                
Interest   $ 239,682     $ 145,324  
Income taxes   $ 235,275     $ –  
Noncash investing and financing activity:                
Shares issued to note holders   $ 2,292,864     $ 309,780  
Shares issued for the divestiture of Cloud B, Inc.     405,000       –  
Conversions under notes payable     1,524,000       –  
Issuance of warrants to note holders     1,018,953       –  
Distribution for issuance of shares to noncontrolling interest members of Global Clean Solutions, LLC     699,000       –  

Investor Relations: 

Aimee Carroll 
Phone: (866) 536-0943
Email: [email protected]



Posted on

PVH Corp. Announces New Appointments to Board of Directors

PVH Corp. Announces New Appointments to Board of Directors

NEW YORK–(BUSINESS WIRE)–
PVH Corp. [NYSE: PVH] today announces the appointments of Allison Peterson, Chief Customer Officer for Best Buy Co., Inc., and George Cheeks, President and CEO of the CBS Entertainment Group, to its Board of Directors. Their deep experience in successfully navigating consumer disruption will provide perspective as PVH continues to evolve as one of the world’s largest apparel companies.

“PVH is pleased to welcome Allison Peterson and George Cheeks to our Board of Directors. We believe that their expertise in understanding target audiences, digital leadership and creating consumer connections will build on our inherent strengths – two of the most iconic fashion brands in the world and the talented team behind them,” said Manny Chirico, Chairman and CEO. “It’s important to have new, diverse voices advising our successful strategy for the new normal.”

Peterson is responsible for the Customer Strategy, Consumer Insights and Research, Experience Design and Membership/Loyalty for Best Buy, playing an instrumental role in building out its digital presence to align with new consumer behaviors. She has a proven track record of delivering strong consumer engagement fueled by strategic marketing, cross-channel experiences and brand positioning. Her career has been entirely focused in retail, first at Target Corp. and then in several leadership roles at Best Buy, including Chief Marketing Officer and President of E-Commerce.

With over 25 years of experience in the media and entertainment industry, George has demonstrated his deep understanding of how an iconic brand grows with its audience in the context of changing distribution, culture, lifestyles and preferences. Now driving the development of CBS’ core assets, George previously served in several senior executive positions that spanned creative, business and operational roles at NBCUniversal. Most recently, he was Vice Chairman, NBCUniversal Content Studios.

The appointments of Peterson and Cheeks are effective January 26 and March 22, 2021, respectively. PVH also announces its intent to appoint Stefan Larsson, President PVH Corp., to the Board as part of its previously announced CEO succession plan.

The addition of Peterson and Cheeks is part of the refreshment process undertaken by the Board of Directors, as supported by the Board’s Nominating, Governance & Management Development Committee. They continue to evaluate membership both on the Board and its Committees.

More information about PVH Corp.’s Board of Directors and corporate governance practices can be found here: https://www.pvh.com/investor-relations/governance/board.

ABOUT PVH

PVH is one of the most admired fashion and lifestyle companies in the world. We power brands that drive fashion forward – for good. Our brand portfolio includes the iconic Calvin Klein, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Warner’s, Olga and Geoffrey Beene brands, as well as the digital-centric True&Co. intimates brand. We market a variety of goods under these and other nationally and internationally known owned and licensed brands. PVH has over 40,000 associates operating in over 40 countries and $9.9 billion in 2019 revenues. That’s the Power of Us. That’s the Power of PVH.

Dana Perlman

Treasurer and Senior Vice President, Business Development and Investor Relations

(212) 381-3502

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Retail Luxury Fashion

MEDIA:

Logo
Logo
Posted on

BlackRock to Acquire Aperio – Leading Provider of Personalized Index Equity Solutions

BlackRock to Acquire Aperio – Leading Provider of Personalized Index Equity Solutions

Aperio’s Customized Indexing Capabilities Enhance BlackRock’s Wealth Platform with Tax-Managed Equities, Factors, and ESG Strategies

BlackRock’s High-Touch Separately Managed Account Services Now Provide Whole Portfolio Solutions for Ultra-High Net Worth Advisors

NEW YORK–(BUSINESS WIRE)–
BlackRock, Inc. (NYSE: BLK) today announced that it has entered into a definitive agreement to acquire Aperio from Golden Gate Capital and Aperio employees for $1.05 billion in cash. Aperio is a pioneer in customizing tax-optimized index equity separately managed accounts (SMAs) to reflect each client’s unique risk, tax, and personal values preferences.

For 20 years, Aperio has been innovating to deliver wealth managers capabilities that embrace the uniqueness of each investor and enhance after-tax performance. Aperio also pioneered individually customized ESG portfolios that enable investors to elevate the purpose of their wealth and make an impact on causes deeply important to them. Aperio’s high-touch consultative client service model focuses on ultra-high net worth households and institutions served by private banks and the fast-growing independent registered investment advisor (RIA) market. The U.S. retail and wealth SMA market totals approximately $1.7 trillion in assets and is growing at approximately 15% annually and 35% among RIAs.1 With over $36 billion of assets under management as of September 30, 2020, Aperio has outpaced the industry with an average annual organic asset growth rate of nearly 20% over the past five calendar years.

BlackRock is already a leading provider of SMAs for U.S. wealth management-focused intermediaries. The firm’s SMA franchise specializes in providing customized actively-managed fixed income, equity, and multi-asset strategies. The combination with Aperio will boost BlackRock’s SMA assets by roughly 30% to over $160 billion. More importantly, the transaction expands the breadth of personalization capabilities available to wealth managers from BlackRock via tax-managed strategies across factors, broad market indexing, and investor ESG preferences across all asset classes. The combination with Aperio will set a new standard for personalized whole portfolio solutions in the SMA market.

“The wealth manager’s portfolio of the future will be powered by the twin engines of better after-tax performance and hyper-personalization. BlackRock and Aperio, working together, will bring unmatched capabilities to meet these objectives,” said Martin Small, head of BlackRock’s U.S. Wealth Advisory business. “The combination will bring institutional quality, personalized portfolios to ultra-high net worth advisors and will create one of the most compelling client opportunities in the investment management industry today.”

“Aperio has been honored to earn the trust of the most demanding wealth managers by always putting investors’ interests first and partnering with advisors to solve the complexities of UHNW investors through research integrity and excellence in human-centric client experience. With BlackRock, we have found a like-minded fiduciary firm with long-standing roots in tax-efficient indexing, a commitment to sustainable investing, and Diversity, Equity & Inclusion, and a track record of delivering consultative whole portfolio solutions to wealth management intermediaries,” said Aperio co-heads, Liz Michaels and Ran Leshem. “We are excited to harness BlackRock’s capabilities and reach to keep innovating on behalf of an even larger base of wealth managers and institutional investors.”

BlackRock plans to operate Aperio as a separately branded, vertically integrated team within BlackRock’s U.S. Wealth Advisory business. Aperio will retain its investment, business development, client service, and ESG-SRI processes under the leadership of Ran Leshem and Liz Michaels, who will become co-heads of the Aperio team upon joining BlackRock, a transition already announced last summer by Aperio. Current Aperio CEO, Patrick Geddes, will maintain his role as Aperio’s Chief Tax Strategist and become a BlackRock senior advisor, focusing on broadening portfolio construction research and tools for taxable investors across asset classes.

“We are thrilled to welcome the Aperio team to BlackRock,” said BlackRock’s Chief Client Officer, Mark McCombe. “We look forward to bringing Aperio’s innovative mindset in financial services to BlackRock and drawing on the team’s decades of experience to expand our offerings to even more advisors and their clients. This transaction deepens our presence in the San Francisco area and reflects the critical importance to BlackRock of tapping the innovation taking place on the West Coast of the U.S.”

Rob Little and Dan Haspel, Managing Directors at Golden Gate Capital, said, “During our highly successful partnership with the world class team at Aperio, the company significantly expanded its client base and capabilities, while continuing to operate with an unparalleled focus on customized solutions for the new institutional market. We are very excited for Aperio as they embark on this next chapter with BlackRock, who is the perfect partner to bring Aperio’s extreme fiduciary focus and expertise to a global audience.”

BlackRock’s acquisition of Aperio will be funded from existing corporate liquidity and is anticipated to close in the first quarter of 2021. Although minimally dilutive to earnings per share, the transaction is not expected to be dilutive on a cash basis.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of September 30, 2020, the firm managed approximately $7.81 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.BlackRock.com/corporate | Twitter: @BlackRock | LinkedIn: www.linkedin.com/company/BlackRock.

About Aperio

Aperio Group LLC is based in Sausalito, California. Its mission is to reconfigure wealth management by embracing the unique needs of each investor, including the impact s/he may want to have on the world while incorporating the impact of taxes so much of the investment industry would prefer to ignore. Aperio is a pioneer in custom index equity portfolios delivering tax optimization, targeted risk factors or ESG (environmental, social, and governance) values and shareholder engagement. As an investment manager, Aperio provides high-touch client service to both taxable and tax-exempt investors across a broad range of US and international strategies. For additional information on Aperio, please visit www.Aperiogroup.com | Blog: https://www.Aperiogroup.com/blogs | LinkedIn: www.linkedin.com/company/Aperio-group-llc

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity investment firm with over $17 billion of committed capital. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable financial services investments sponsored by Golden Gate Capital include Angel Island Capital Management, Pluribus Labs, Nassau Financial Group, Makena Capital Management, Williston Financial Group and Green Street Advisors. For more information, visit www.goldengatecap.com.

1 Source: Cerulli Associates, data as of December 31, 2019. Growth rates 2015-2019.

Investor Relations
Samantha Tortora, 212-810-5397

[email protected]

Media Relations
Melissa Garville, 212-810-5528

[email protected]

For Aperio
Mark Fiore, 415-339-4670

[email protected]

For Golden Gate Capital
Sard Verbinnen & Co

Jenny Gore / Alyssa Lorenzo

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

Logo
Logo
Posted on

IntelGenx Grants Stock Options

SAINT-LAURENT, Quebec, Nov. 23, 2020 (GLOBE NEWSWIRE) — IntelGenx Technologies Corp. (“IntelGenx”, or the “Company”) (TSX-V: IGX) (OTCQB:IGXT) announced today that the Company’s board of directors granted stock options to acquire a total of 1,365,000 common shares under the 2016 Stock Option Plan.

Of the total stock options granted, 200,000 were granted to each of Horst G. Zerbe, Chief Executive Officer and Andre Godin, President and Chief Financial Officer. Furthermore, 100,000 stock options were granted to each of three officers of IntelGenx Corp., Nadine Paiement, Vice President Research and Development, Dana Matzen, Vice President Business and Corporate Development and Rodolphe Obeid, Vice President Operations. Also included in the total number of options granted are 665,000 granted to fourteen employees of IntelGenx Corp.

The options have an exercise price of US$0.27 (CAD$0.35), vest over a period of two years at the rate of 25% every six months and expire on November 22, 2030.

About IntelGenx:

IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

IntelGenx’s superior film technologies, including VersaFilm® and VetaFilm™, as well as its transdermal development and manufacturing capabilities, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.

IntelGenx’s highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx’s state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.

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

Contact:

IntelGenx Technologies Corp.
Ingrid Zerbe
Corporate Secretary
514-331-7440
[email protected]



Posted on

Castle Biosciences to Participate in Piper Sandler 32nd Annual Virtual Healthcare Conference

Castle Biosciences to Participate in Piper Sandler 32nd Annual Virtual Healthcare Conference

FRIENDSWOOD, Texas–(BUSINESS WIRE)–
Castle Biosciences, Inc. (Nasdaq: CSTL), a skin cancer diagnostics company providing personalized genomic information to improve cancer treatment decisions, today announced that management will participate in the Piper Sandler 32nd Annual Virtual Healthcare Conference, December 1-3, 2020. Derek Maetzold, president and chief executive officer, and Frank Stokes, chief financial officer, will provide a pre-recorded investor presentation and will be available for virtual one-on-one investor meetings during the conference.

Meetings may be requested exclusively through Piper Sandler. The pre-recorded company presentation will be available via the Piper Sandler conference site from November 23 to December 3 and on the Castle Biosciences website at https://ir.castlebiosciences.com/investors.

About Castle Biosciences

Castle Biosciences (Nasdaq: CSTL) is a commercial-stage dermatologic cancer company focused on providing physicians and their patients with personalized, clinically actionable genomic information to make more accurate treatment decisions. The Company currently offers tests for patients with cutaneous melanoma (DecisionDx®-Melanoma, DecisionDx®-CMSeq), cutaneous squamous cell carcinoma (DecisionDx®-SCC), suspicious pigmented lesions (DecisionDx® DiffDx™-Melanoma) and uveal melanoma (DecisionDx®-UM, DecisionDx®-PRAME and DecisionDx®-UMSeq). For more information about Castle’s gene expression profile tests, visit www.CastleTestInfo.com. Castle also has active research and development programs for tests in other dermatologic diseases with high clinical need. Castle Biosciences is based in Friendswood, Texas (Houston), and has laboratory operations in Phoenix, Arizona. For more information, visit www.CastleBiosciences.com.

DecisionDx-Melanoma, DecisionDx-CMSeq, DecisionDx-SCC, DecisionDx DiffDx-Melanoma, DecisionDx-UM, DecisionDx-PRAME and DecisionDx-UMSeq and are trademarks of Castle Biosciences, Inc.

Investor and Media Contact:

Camilla Zuckero

832-835-5158

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Medical Devices Genetics Biotechnology Other Health Health General Health Other Science Science Oncology

MEDIA:

Logo
Logo
Posted on

Brink’s to Present at the Bank of America 2020 Leveraged Finance Virtual Conference on November 30

RICHMOND, Va., Nov. 23, 2020 (GLOBE NEWSWIRE) — The Brink’s Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced that Ron Domanico, executive vice president and chief financial officer, will participate in the Bank of America 2020 Leveraged Finance Virtual Conference on November 30, 2020.

Brink’s management will be available to meet with investors throughout the day. Portfolio managers and analysts who wish to request a meeting should contact their Bank of America representative.

The company’s presentation is scheduled for 4:30 PM ET. The webcast and presentation will be available in the Investor Relations Events section of the company’s website www.brinks.com. 

About The Brink’s Company

The Brink’s Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our global network of operations in 52 countries serves customers in more than 100 countries. For more information, please visit our website at www.brinks.com or call 804-289-9709.

Contact:
Investor Relations
804.289.9709



Posted on

ROSEN, A TOP RANKED LAW FIRM, Announces Investigation of Securities Claims Against Yalla Group Limited; Encourages Investors with Losses in Excess of $100K to Contact the Firm – YALA

PR Newswire

NEW YORK, Nov. 23, 2020 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Yalla Group Limited (NYSE: YALA) resulting from allegations that Yalla may have issued materially misleading business information to the investing public.

On or around September 30, 2020, Yalla conducted its initial public offering (“IPO”), issuing 18.6 million American depositary shares (“ADSs”) priced at $7.50 per ADS. Then, on November 9, 2020, post-market, Yalla issued a press release announcing its unaudited financial results for the third quarter of 2020. Among other results, Yalla reported GAAP EPS of –$0.43, and costs and expenses of “$US64.7 million . . . compared with US$8.6 million in the same period last year.” Yalla stated that “[t]he increase was primarily due to the recognition of share-based compensation of US$46.5 million upon our listing on the New York Stock Exchange on September 30, 2020. We granted a substantial amount of share options before the IPO but did not recognize any share-based compensation in prior periods because the exercisability of the options granted was conditional upon the completion of our IPO. Upon our listing on the NYSE, we immediately recognized a substantial amount of share-based compensation expenses associated with all outstanding options that were vested as of September 30, 2020.”

On this news, Yalla’s ADS price fell $2.01 per ADS, or 17.43%, to close at $9.52 per ADS on November 10, 2020.

Rosen Law Firm is preparing a securities lawsuit on behalf of Yalla shareholders. If you purchased securities of Yalla please visit the firm’s website at http://www.rosenlegal.com/cases-register-1987.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      [email protected]
      [email protected]
      www.rosenlegal.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/rosen-a-top-ranked-law-firm-announces-investigation-of-securities-claims-against-yalla-group-limited-encourages-investors-with-losses-in-excess-of-100k-to-contact-the-firm–yala-301179194.html

SOURCE Rosen Law Firm, P.A.