Newsdesk, Author at Market Newsdesk

November 13, 2020 1:15 pm

SBA Announces New Reduced 504 Loan Debenture Rates

Washington, Nov. 13, 2020 (GLOBE NEWSWIRE) — The U.S. Small Business Administration announced the updated interest rates for the 504 Loan Program offered by Certified Development Companies (CDC). The program now allows for 10, 20, and 25-year interest rates at 2.231 percent, 2.364 percent, and 2.399 percent, respectively. Small businesses can now apply for a 504 loan at these low-interest rates.

“These are very encouraging terms and very supportive of our nation’s goal to bounce-back from COVID-19,” said William Manger, SBA Chief of Staff and Associate Administrator for the Office of Capital Access. “The longer terms and now lowest interest rates support and encourage entrepreneurs to step outside of the box and look at real investments.”

Partnered with the SBA are the CDCs, which are the driving force behind the 504 Loan Program. See SBA’s 504 Loan Program factsheet for more information on how to expand your business real estate or improve your working capital.

The 504 Loan Program is an SBA business loan program authorized under Title V of the Small Business Investment Act of 1958, 15 U.S.C. 695 et seq. The core mission of the 504 Loan Program is to provide long-term financing to small businesses for the purchase or improvement of land, buildings, and major equipment, to facilitate the creation or retention of jobs, and to support local economic development. Under the 504 Loan Program, loans are made in conjunction with private-sector lenders to small businesses by CDCs, which are certified and regulated by the SBA to promote economic development within their community.

For questions about the 504 Loan Program, please contact your local SBA District office.

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit https://www.sba.gov.

Shannon Giles
United States Small Business Administration
[email protected]

November 13, 2020 1:12 pm

NCLA Seeks Injunction Pending Appeal to Eleventh Circuit Court in Eviction Moratorium Case

Brown, Rondeau, Krausz, Jones and Nat’l Apt. Ass’n v. U.S. Centers for Disease Control and Prevention, et al.

Washington, D.C., Nov. 13, 2020 (GLOBE NEWSWIRE) — The New Civil Liberties Alliance, a nonpartisan, nonprofit civil rights group, has filed a motion for injunction pending appeal in the U.S. Court of Appeals for the Eleventh Circuit in the case of Brown, et al. v. CDC, et al. NCLA is seeking to reverse an erroneous decision by the U.S. District Court for the Northern District of Georgia denying property owners’ motion for preliminary injunction.

The district court erred because it placed an impossible burden of proof on property owners in contradiction to other courts across the country, which have recognized that being deprived of your residential property is in fact an intrinsically irreparable injury. In its appeal, NCLA also argues that CDC’s nationwide moratorium order has no statutory or regulatory basis. No provision of law grants the agency the broad, unilateral authority to void state landlord-tenant laws. If the district court’s reading of CDC’s authority were to stand, the agency could take virtually any action overturning state law as long as it asserted a public-health benefit.

NCLA’s original lawsuit challenges the authority of CDC to impose the “Temporary Halt in Residential Evictions to Prevent Further Spread of COVID-19” order, which claims stopping residential evictions will help contain COVID-19. Because the act of Congress upon which CDC relies does not actually confer on the agency the power to halt evictions or to preempt state landlord-tenant laws, the nationwide eviction moratorium order violates the U.S. Constitution and should be enjoined and declared void. NCLA’s lawsuit also argues that CDC had deprived property owners of their constitutional due process rights to have access to state courts.

At a minimum, there is a substantial question as to whether the CDC order may permissibly stop all 50 states from applying their own legal regimes governing real property. And unless the Eleventh Circuit acts, the property owners will continue to suffer the irreparable deprivation of their real property, as well as the unrecoverable loss of all economic value of their properties.

NCLA released the following statements:

“CDC’s unprecedented order stakes out an untenable position that CDC can change any law in any state as long as it merely invokes the threat of COVID-19. The Eleventh Circuit must step in and make clear that the Constitution still applies—even in a pandemic.”

— Caleb Kruckenberg, Litigation Counsel, NCLA

“Incredibly, the district court held that no deprivation of due process occurred here because the eviction moratorium expires on Dec. 31. You’ve probably heard the saying that ‘justice delayed is justice denied.’ There is no rule that authorizes federal agencies to temporarily deprive housing providers of due process rights. What the CDC has done here is unlawful, and the Eleventh Circuit needs to intervene immediately to put a stop to it.”

— Mark Chenoweth, Executive Director and General Counsel, NCLA

For more information, visit the case summary 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.

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Judy Pino, Communications Director
New Civil Liberties Alliance
202-869-5218
[email protected]

November 13, 2020 1:11 pm

Empire Life raises $278,000 for United Way

Canada NewsWire

KINGSTON, ON, Nov. 13, 2020 /CNW/ – The annual Empire Life United Way campaign exceeded its goal, raising $278,000 to benefit United Ways across Canada. The company matched employee and retiree pledges up to a total of $125,000 and also made a $20,000 donation to the COVID-19 Community Response and Recovery Fund earlier in the year.

“2020 has been a difficult year for people, especially those who are most vulnerable,” says campaign co-chair Renée Belzile. “Our message to employees this year was simple: If you are in a position to give, give what you can. We are so proud our employees stepped up and showed their generosity and compassionate spirit when it was needed most.”

The theme of this year’s campaign was “local love” with a focus on supporting local businesses and agencies who have partnered with the company on previous Empire Life United Way campaigns. With most employees working from home, and to ensure the health and safety of employees, the committee ran a fully virtual campaign. Employees were encouraged to shop local and show their support for local businesses and United Way by posting on social media, through an online scavenger hunt and silent auction, and a TikTok style video. United Way agency speakers joined online huddles and meetings to share their stories.

“The stories of the work United Way has been doing on the front lines during the pandemic have been simply inspiring,” says Renée. “United Way and its agencies have been heroes and we are so proud we were able to reach our goal to support the critical work they are doing in our communities.”

About Empire Life

Established in 1923 and a subsidiary of E-L Financial Corporation Limited, Empire Life provides individual and group life and health insurance, investment and retirement products to Canadians. The company’s mission is to make it simple, fast and easy for Canadians to build wealth, generate income, and achieve financial security. As of September 30, 2020, Empire Life had total assets under management of $18.2 billion. Follow us on social media @EmpireLife or visit www.empire.ca for more information.

SOURCE The Empire Life Insurance Company

November 13, 2020 1:05 pm

West Town Bank & Trust Launches Strategic Partnership with Team of Payment Processing Experts to Form West Town Payments

Partnership to address the needs of small businesses for comprehensive solutions around compliance-focused payment processing and commercial banking services

PR Newswire

RALEIGH, N.C., Nov. 13, 2020 /PRNewswire/ — West Town Payments, LLC, a recently established merchant service provider, and West Town Bank & Trust, a subsidiary of Integrated Financial Holdings, Inc. (OTCPK: IFHI), announced a strategic partnership today which will allow small business customers across the U.S. to gain access to best-in-class financial service products and solutions. The alliance will leverage the front-end capabilities offered by West Town Payments to facilitate physical point-of-sale, online, contactless and mobile payments, with West Town Bank & Trust providing merchant deposit accounts and treasury management services on the back end. In addition to its strategic banking partnership, West Town Payments is a direct acquirer through Visa, Mastercard, Discover, and American Express, and is well-equipped with the experience, resources and compliance-driven framework to service both targeted and generalist verticals in need of payment processing services.

“Servicing traditional verticals, such as parking and healthcare, will allow our team to pull from decades of experience in these areas, while focusing on compliance-driven segments will help differentiate the Company as a risk management leader in the payment processing space,” said Tom Lineen, President & CEO of West Town Payments. “As for the latter, our partnership with the Bank will help bridge the gap between the capabilities of traditional banking systems and the regulatory payment demands required by certain industries that may have difficulty accessing a legitimate and trustworthy merchant service provider. One industry in particular we will empower through our turnkey ecosystem is hemp.”

Increased revenue potential for hemp businesses offering cashless payment options remains compelling, as does the fact many of these businesses are still struggling to find safe and secure financial institutions to grow alongside. As the industrial hemp industry and number of digital payment transactions both continue to grow (¹estimated compound annual growth rate of 34% by 2025 and an ²estimated 33% increase YoY in 2020, respectively), so does the inherent need for due diligence, as roughly 75% of hemp-related companies reported they still do not have access to financial services according to 2019 Marijuana Business Factbook.

Last year, West Town Bank & Trust executed a strategic advance into the hemp banking industry with a focus on building trustworthy and long-term banking relationships. In doing so, the Bank invested in and partnered with RiskScout, Inc., an advanced on-boarding and due diligence provider to financial institutions banking underserved industries. Compliance will continue to be the focal point when partnering with these businesses, many of which have experienced frustrations in dealing with barriers to establish banking and merchant processor relationships. Once interested prospects engage West Town Payments, RiskScout will verify the due diligence needed to accept the prospect as “bankable” and directly assist West Town Bank & Trust with monitoring and validating on-going banking transactions.

Melissa Marsal, Chief Operating Officer of West Town Bank & Trust, went on to say, “Partnering with West Town Payments is a strategic alignment aimed to provide better, faster and more reliable service to our customers, starting with hemp businesses. Through combined expertise in commercial banking, on-boarding due diligence, compliance monitoring and payment processing, our companies are uniquely positioned in this market to make an immediate impact, helping businesses increase sales, improve cash flow, and ultimately decrease the costs of doing business for hemp-related businesses.”

West Town Payments is scheduled to launch its full-service, hemp payment processing platform in late Q4 of 2020. The Company currently offers the option for hemp-related businesses to pre-register on its website.

About West Town Payments, LLC

West Town Payments, LLC is a provider of compliance-focused, technology-enabled payment processing solutions to merchants throughout the U.S. The Company offers a highly secure, comprehensive commerce platform for physical point-of-sale, online, contactless and mobile merchants. Through old-fashioned values centered around transparency and modern technology, West Town Payments is committed to implementing tailored payment solutions to compliance-driven and traditional business verticals. Visit www.westtownpayments.com to learn more.

About West Town Bank & Trust

West Town Bank & Trust is a subsidiary of Integrated Financial Holdings, Inc. (OTCPK: IFHI), a North Carolina-based financial services holding company. Founded in 1922, West Town Bank & Trust is an Illinois-chartered bank headquartered in North Riverside which offers traditional banking services but selectively specializes in government guaranteed lending nationally and tailored deposit products for specific lines of business, such as Hemp and CBD. Visit www.westtownbank.com to learn more.

¹

Source – Markets and Markets; Industrial Hemp Market

²

Source – Global Fintech App Usage Grew Significantly in H1 2020, Accelerated by COVID-19

Contact: Andrew Sheaffer, (919) 861-8162

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SOURCE West Town Payments, LLC

November 13, 2020 1:03 pm

Netmarble Issues Fiscal and Earnings Results for the Third Quarter of 2020

Q3 Performance Remains Steady Thanks to Strong Interest from Overseas Players

PR Newswire

LOS ANGELES
, Nov. 13, 2020 /PRNewswire/ — Netmarble Corp., a global mobile game company focused on creating entertaining gaming experiences for players of all ages, revealed their financial results for the third quarter of 2020.

“We continue to see strong results at the end of our third quarter with significant overseas sales coming from our line-up of existing games,” said Seungwon Lee, Co-CEO of Netmarble. “We have positive expectations for the recent global launch of A3: STILL ALIVE, our upcoming regional launch of Seven Knights 2, and Kabam’s upcoming release of MARVEL Realm of Champions.”

“We’re looking forward to what 2021 will bring as we continue to deliver an exciting slate of new games next year, including Ni No Kuni: Cross Worlds, Seven Knights Revolution, and MARVEL Future Revolution,” said Lee. “Thanks to our new partnership with the NBA and NBPA, we are committed to the continued growth of our portfolio through genre expansion”.

Selected highlights from Netmarble’s third quarter include:

$535 million
in total sales, $73 million in operating profit, and a net profit of $77 million from July through September. Cumulative sales for 2020 are estimated at $1.55 billion, with an operating profit of $158 million.
Total sales increased by 3.6% year-over-year and decreased by 6.3% quarter-on-quarter. Operating profit increased 3.6% year-over-year and 7% quarter-on-quarter.
Net profit increased by 9.2% year-over-year and 8.6% quarter-on-quarter.
Overseas sales accounted for 75% ($399 million) of overall sales in the third quarter. This follows Netmarble’s second quarter which offered the highest figure of overseas sales, and continues to follow an increasing trend in global sales thanks to the worldwide success of titles such The Seven Deadly Sins: Grand Cross (17% of revenue earned), MARVEL Contest of Champions (15% of revenue earned) (Kabam), Lineage 2: Revolution (9% of revenue earned) and Blade&Soul Revolution (8% of revenue earned).
Genre portfolio showed diversification across RPG (40%), Casual (25%), MMORPG (23%), and others (12%).

A breakdown of the total financial earnings is below:

	7/1/20-9/30/20 actuals	YoY Changes	QoQ Changes
Total Sales	$535 million	+3.6%	-6.3%
Operating Profit	$73 million	+3.6%	+7.0%
Net Profit	$77 million	+9.2%	+8.6%

For details on Netmarble’s quarterly performance, and to listen to the earnings call, please visit the company’s Investor Relations page to learn more.

About Netmarble Corporation

Established in Korea in 2000, Netmarble Corporation is a top developer and publisher pushing the boundaries of the mobile gaming experience with highly innovative games including Lineage 2: Revolution, The Seven Deadly Sins: Grand Cross, Blade&Soul Revolution and MARVEL Future Fight. As a parent company of Kabam, and a major shareholder of Jam City and Big Hit Entertainment, Netmarble strives to entertain audiences around the world with a variety of mobile games based on its powerful franchises and collaborations with IP holders worldwide. More information can be found at http://company.netmarble.com

North America

Netmarble US
Chastity Irizarry
[email protected]

Rogers & Cowan PMK (for Netmarble in US)
Steven Kunz
[email protected]

Korea (Seoul)

HQ PR Team
Yonsol Chung
[email protected]

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SOURCE Netmarble

November 13, 2020 1:03 pm

Liberated Syndication Schedules2020 Third Quarter Financial Results Conference Call

Liberated Syndication Schedules2020 Third Quarter Financial Results Conference Call

PITTSBURGH–(BUSINESS WIRE)–Liberated Syndication Inc. (OTCQB:LSYN) (“Libsyn” or “the Company”), the podcast industry’s premier hosting platform, today announced it will hold a conference call on Monday, November 16, 2020 to discuss the results of its financial results for the third quarter ended September 30, 2020.

Conference Call Details

Libsyn will discuss these results in a conference call Monday, November 16, 2020 at 1:00 p.m. ET.


Participant Dial-In Numbers:
(United States):			877-407-0778
(International):			201-689-8565

To access the call, please dial-in approximately five minutes before the start time.

Submit Questions for the Call

Questions for consideration for the call can be emailed to [email protected] prior to 9:00 a.m. ET on Monday, November 16, 2020.

Conference Call Replay

A replay of the conference call will be accessible two hours after the call and available for one month at the Investor Resources section of the investor site: https://investor.libsyn.com.

About Liberated Syndication

Liberated Syndication Inc. (“Libsyn”) is a world leading podcast hosting network and has been providing publishers with distribution and monetization services since 2004. In 2019, Libsyn delivered over 6.2 billion downloads. Libsyn hosts over 5.8 million media files from more than 74,000 podcasts. Podcast producers choose Libsyn to measure their audience via IAB V2 certified stats, deliver popular audio and video episodes, distribute their content through smartphone apps (iOS and Android), and monetize via premium subscription services and advertising. The Company also owns Pair Networks, founded in 1996, one of the oldest and most experienced Internet hosting companies, providing a full range of fast, powerful and reliable Web hosting services.

Libsyn is a Pittsburgh-based company with a world class team.

Visit Libsyn on the web at www.libsyn.com and visit Pair Networks at www.pair.com. Investors can visit the Company at the “Investor Relations” section of Libsyn’s website at https://investor.libsyn.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201113005606/en/

At the Company

Laurie Sims, President and Chief Operating Officer

Liberated Syndication

[email protected]

Adam Prior, SVP

The Equity Group Inc.

(212) 836-9606

[email protected]

KEYWORDS: United States North America Pennsylvania

INDUSTRY KEYWORDS: Social Media Networks Other Communications Internet Audio/Video Communications Technology Mobile/Wireless

MEDIA:

Logo

November 13, 2020 1:02 pm

IIROC Trading Halt – Enter Symbol(s) Here

Canada NewsWire

VANCOUVER, BC, Nov. 13, 2020 /CNW/ – The following issues have been halted by IIROC:

Company: SLAM Exploration Ltd.

TSX-Venture Symbol: SXL

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 12:47 PM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

November 13, 2020 12:53 pm

CSU profit jumps again in the Q3 2020

Net income of R $ 12.2 million represents an increase of 52.1% over 3Q19

PR Newswire

SÃO PAULO, Nov. 13, 2020 /PRNewswire/ — CSU (CARD3:BZ), leader in the Brazilian technology market focused on the processing of electronic payment transactions, customer relationships and reward programs aimed at engagement and loyalty, ended the third quarter of 2020, continuing the good moment started in the first quarter of the previous year, showing evolution in the main financial indicators, with net revenue of R$ 113.6 million, gross profit of R$ 35.0 million, record EBITDA of R$ 33.9 million with an EBITDA margin of 30% and net income of R$ 12.2 million. These figures are 7.3%, 21.0%, 22.3% and 52.1%, respectively, over the same quarter of 2019.

Among the highlights, Mr. Ricardo Ribeiro Leite, CSU Investor Relations Officer, reveals the commercial aspect. “In the CardSystem division, responsible for the processing and administration of electronic means of payment, we won a new customer on the acquiring platform and signed a contract with an important marketplace that will add prepaid cards on the issuing platform. At MarketSystem, with reward, loyalty and incentive programs, we expanded the mix of partners in our marketplace OPTe + with the entry of three companies. At Contact, in which the relationship with our customers’ clients is made, we are significantly expanding operations with an important fintech and will serve the customers of a financial institution belonging to one of the largest private banks in the country and which was already ours cards”, he says.

Regarding operating data by division, at CardSystem the company ended the quarter with 25.8 million registered cards, a 20.2% growth over 3Q20; at Contact, with an average of 2,070 billed workstations, an increase of 7.9% compared to 3Q19.

“The good performance of the quarter made it possible for us to announce the distribution of an additional R$ 3.0 million in interest on equity to our shareholders, totaling R$ 7.9 million for nine months this year, reaffirming our confidence in the evolution of results. We also remain engaged in the search for mergers and acquisitions that bring not only customers and revenues, but also innovation and time to market”, concludes the executive.

About CSU

CSU CardSystem S.A. (B3 Novo Mercado: CARD3) is a leader in the Brazilian technology market focused on the processing of electronic payment transactions, customer relationships and reward programs aimed at engagement and loyalty. Founded in 1992, it provides a complete platform of innovative solutions in the 3 business divisions: at CardSystem processes and manages credit cards, digital/virtual cards, wearables and wallets; at MarketSystem it controls reward, engagement, loyalty and customer incentive programs, through the points engine and the OPTe + marketplace (www.optemais.com.br); and at Contact, it carries out the relationship and customer service via traditional channels and automation/robotization for productivity and quality gains.

View original content:http://www.prnewswire.com/news-releases/csu-profit-jumps-again-in-the-q3-2020-301172896.html