Author: Newsdesk

NASA Unveils New Research Progress for Human Mission to the Moon With Supercomputer Powered by Hewlett Packard Enterprise

NASA’s Aitken supercomputer provides powerful modeling and simulation capabilities to support critical research for a safe and successful spaceflight for the next return-to-moon by 2024

SAN JOSE, Calif.–(BUSINESS WIRE)–Hewlett Packard Enterprise (HPE) today announced that NASA highlighted new research progress to support the next human landing on the moon by performing complex simulations on NASA’s Aitken supercomputer, which is powered by HPE. New research, which includes understanding the booster separation event and launch environment at Kennedy Space Center during lift-off, will help NASA’s engineers prepare for a safe and successful spaceflight as part of NASA’s Artemis mission set to launch in 2024.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005344/en/

NASA’s Modular Supercomputing Facility, where its Aitken supercomputer is housed, at NASA’s Ames Research Center in Mountain View, California. Image credit: NASA Ames Research Center

HPE also announced today that it expanded NASA’s Aitken supercomputer with HPE Apollo systems that are purpose-built for compute-intensive modeling and simulation needs. The expansion of computational power, which will be operational in January 2021, supports NASA’s ongoing research involving computational fluid dynamics (CFD) that are critical to understanding aerodynamic events.

“At HPE, we are inspired by breakthroughs in scientific research that leverage our high-performance computing technologies. The researchers and engineers at NASA’s Ames Research Center continue to push boundaries to advance space flight,” said Bill Mannel, vice president and general manager, HPC, at HPE. “We are honored to continue collaborating with NASA and play a role in a historical moment by further expanding NASA’s Aitken supercomputer with HPE Apollo systems to accelerate time-to-insight and safely land the first woman and the next man on the moon.”

NASA’s Aitken Supercomputer Increases Computational Power and Drives Efficiency

NASA’s Modular Supercomputing Facility, where its Aitken supercomputer is housed, at NASA’s Ames Research Center in Mountain View, California

NASA’s Aitken supercomputer was built by HPE in August 2019 to support NASA missions, including research for the Artemis program, a mission to land the first woman and next man on the lunar South Pole region by 2024.

NASA’s Aitken is housed in the first of 12 computer modules in the Modular Supercomputing Facility (MSF), jointly developed by NASA and HPE, to drive greater efficiency and significantly reduce electricity and water use. As a result, NASA’s Aitken supercomputer, during its first year of operation, consumed only 16% of the energy needed for cooling, saving over $100K in costs and 1.4 million kilowatt-hours. It also reduced water usage, used to cool the supercomputer, by 91%, saving over one million gallons of water per day.

The supercomputer will expand with HPE Apollo systems using 2^nd Gen AMD EPYC processors to provide advanced compute power to support ongoing research.

NASA’s Aitken Supercomputer Advances Research Progress for Return-to-Moon Mission

NASA’s Aitken supercomputer has already helped researchers make progress for the Artemis mission in the following areas:

Develop an Aerodynamic Database for Possible Events during the Artemis Booster Separation

NASA’s engineers need to understand possible events that could occur during booster separation from the core of the Artemis rocket during liftoff, which is critical to the safety of the crew and success of the mission. NASA considers the possibilities that the two solid rocket boosters (SRBs), developed for the mission, will strike the core center or each other during the separation event.

To simulate and model all variables during separation events during the Artemis mission, NASA has developed a database of aerodynamic data to showcase possible positioning of the boosters during separation. By applying computational fluid dynamics (CFD) tools using NASA’s Aitken supercomputer and accounting for 22 different engine rocket plumes, which are moving hot exhaust gases, researchers were able to develop a database of 13 independent variables to model all possible in-flight events during booster separation. The project can be viewed here.

The expansion to NASA’s Aitken supercomputer will enable even more detailed and comprehensive databases to improve accuracy in analysis for a safer flight.

Understanding the Launch Environment at the Kennedy Space Center

The Artemis mission is set to launch at the Kennedy Space Center in Merritt Island, Florida. NASA’s researchers need to understand the effects of ignition overpressure (IOP) and duct overpressure (DOP) waves that are caused by the rapid expansion of gas from the rocket nozzle during launch.

NASA’s Launch, Ascent, and Vehicle Aerodynamics (LAVA) team has been using NASA’s Aitken supercomputer to apply computational fluid dynamics (CFD) to simulate these waves and how they interact with the launch vehicle to examine any potential dangers to the mission.

The ongoing analysis helps NASA’s engineers make advancements to the design of the launch environment. With the expanded Aitken supercomputer, researchers will gain additional compute power to further improve time-to-solution for the launch pad redesign to accommodate the Space Launch System. The project can be viewed here.

To learn more about NASA’s research progress and view simulations, please visit https://www.nas.nasa.gov/SC20/home.html

To learn more about HPE’s supercomputing solutions, please visit: https://www.hpe.com/us/en/compute/hpc/supercomputing.html

About Hewlett Packard Enterprise

Hewlett Packard Enterprise is the global edge-to-cloud platform-as-a-service company that helps organizations accelerate outcomes by unlocking value from all of their data, everywhere. Built on decades of reimagining the future and innovating to advance the way we live and work, HPE delivers unique, open and intelligent technology solutions, with a consistent experience across all clouds and edges, to help customers develop new business models, engage in new ways, and increase operational performance. For more information, visit: www.hpe.com.

1. NASA’s research progress using its Aitken supercomputer is based on the first deployment of the HPE SGI 8600

AMD, the AMD Arrow logo, EPYC and combinations thereof are trademarks of Advanced Micro Devices, Inc

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005344/en/

Editorial contact

[email protected]

Nahren Khizeran, HPE

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Science Software Research Hardware Data Management Technology Aerospace Manufacturing

MEDIA:

Photo

The Launch Complex 39B at Kennedy Space Center (KSC) shows a simulation of exhaust gas flow from the Space Launch System (SLS) during launch. Image credit: NASA Ames Research Center

Photo

NASA’s Modular Supercomputing Facility, where its Aitken supercomputer is housed, at NASA’s Ames Research Center in Mountain View, California. Image credit: NASA Ames Research Center

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Artemis-II vehicle view with simulating boosters that are 75 feet downstream of their stowed position. Image credit: NASA Ames Research Center

Mogo Expands Into Global B2B Fintech Market with Acquisition of Digital Payments Technology Company Carta Worldwide

Transformational deal combines leading Canadian fintech with over 1 million members with next-gen payments technology platform that processed over $4.0 billion in transaction volume in 2019

Adds B2B payments platform addressing the $2.5 trillion global payments market¹, with over 85% of Carta revenue generated from International markets outside of Canada

All-stock transaction with no shares distributed to Carta shareholders until the earlier of Mogo’s 10-day vwap on the TSX reaching $7.45 or December 2021

All figures in Canadian $

VANCOUVER, British Columbia–(BUSINESS WIRE)–Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo” or the “Company”), a financial technology company focused on empowering consumers with innovative digital financial solutions that help them get in control of their financial health, today announced it has reached a definitive agreement (the “Agreement”) to acquire Carta Solutions Holding Corporation, also known as Carta Worldwide (“Carta”), a leader in providing next-gen digital payments solutions, in an all-stock transaction by way of a plan of arrangement (the “Transaction”). The combination creates one of Canada’s largest vertically integrated fintech companies and significantly expands the Company’s addressable market by entering into the $2.5 trillion global digital payments market.

Carta’s modern issuing platform is the engine behind innovative fintech companies and products around the globe, powering over 100 card programs and providing vital processing technology to industry leaders including TransferWise, Sodexo, Payfare, and others. Founded in 2007, Carta’s management team has decades of payments and technology industry experience. Carta is currently operating in Europe, Asia and Canada and recently expanded into the U.S. market. Carta, which has 70 employees, generated approximately $8.5 million of revenue in 2019, over 85% of which was from international markets outside of Canada.

Management Commentary

“Carta has created award-winning digital transaction processing technologies for the fast-growing market for next-generation payments programs, and we’re thrilled to add them to the Mogo platform,” said David Feller, Mogo’s Founder and CEO. “By using Carta’s payment processing engine, we expect to enhance Mogo’s digital wallet capabilities which includes the development of our upcoming peer-to-peer payment solution, and – when combined with our digital front-end capabilities – we see great opportunity to power the next generation of platforms globally.”

Peter Kaju, CEO of Carta, commented: “We’re excited to be combining with one of the pioneers in fintech and a leader in Canada. We see tremendous opportunity to accelerate the growth of our respective businesses by combining resources and capabilities.”

Greg Feller, President and CFO of Mogo, added: “This transformational transaction further enhances Mogo’s position as one of Canada’s leading fintech companies, accelerates the growth of our subscription & transaction-based revenue, and expands Mogo’s TAM into the $2.5 trillion global payments business. With the sale earlier this year of our consumer instalment loan portfolio, along with the recent launch of our MogoSpend account, referral partnerships and upcoming launch of our P2P payments platform, the Carta transaction further positions Mogo for accelerating revenue growth in 2021. In addition, as we continue to expand our platform and leadership position, we expect to evaluate additional technology and product acquisition opportunities going forward.”

Strategic Rationale & Transaction Highlights

• Accelerates Mogo’s transformation to a broader digital wallet and payments technology business: Following the completion of the transaction, Mogo will integrate Carta’s transaction processing technology with its current MogoSpend product (which comes with a Mogo Visa* Platinum Prepaid Card). Mogo will also leverage Carta’s technology and capabilities to launch its previously announced mobile peer-to-peer payment solution (targeted for H1 2021).

• Provides Carta with the ability to cross-sell Mogo’s front-end digital platform to provide enhanced value to customers: Adding Mogo’s mobile-first digital platform and app to Carta’s digital transaction processing platform, creates a powerful, vertically integrated offering for Carta’s fintech, bank and corporate clients that are issuing innovative payment solutions.

• Increased revenue scale, diversification, and entry into the global B2B fintech market: The acquisition of Carta adds scale and diversification to Mogo’s high-margin subscription and services revenue and provides entry to the B2B fintech market. In 2019, Carta generated approximately $8.5 million of payments & transaction revenue from corporate customers. In 2019, both Mogo and Carta were named among Canada’s Top 50 FinTech Companies by the Digital Finance Institute.

• Global reach and increased addressable market: Together, the companies will have a presence in over 40 countries and target a$2.5 trillion addressable market. More than 85% of Carta’s revenue comes from outside Canada. including Europe and Asia, along with its recent expansion into the massive U.S. payments market.

• Highly supportive management teams and aligned shareholder base: Carta’s senior management, board members, and key outside shareholders, representing more than 60% of each class of Carta’s outstanding securities, have entered into voting and support agreements. On closing, Chris Payne, Carta’s lead director, is expected to join Mogo’s board of directors and Carta’s executive team will continue to run the operations as part of Mogo. The executive team and shareholders of Carta are highly aligned and incentivized to drive shareholder value, with 100% of the consideration going into a limited partnership and no shares will begin to be distributed to Carta shareholders, including management, before the earlier of (i) 10-day volume-weighted average price of common share of Mogo (“Mogo Shares”) on the TSX being equal to $7.45 per share or higher or (ii) December 2021 (refer to ‘Terms of the Transaction’).

Terms of the Transaction

Under the terms of the Agreement, Mogo will acquire 100% of the outstanding shares of Carta in exchange for the issuance of 10 million common shares (“Mogo Shares”), which is equal to a purchase price of $24.2 million based on the closing price of the Mogo Shares on the TSX on November 16, 2020. These shares will go into a limited partnership that will not begin to be distributed to current Carta shareholders, including management, until the earlier of the 10-day volume-weighted average price of Mogo Shares on the Toronto Stock Exchange being equal to (i) $7.45 per share or higher or (ii) December 2021. On a Pro Forma basis, Carta shareholders will own approximately 18% of Mogo’s fully diluted shares.

The proposed Transaction will be completed pursuant to a plan of arrangement under the Canada Business Corporations Act, which will require court approval and the approval of not less than 2/3 of the holders of each class of Carta securities. Pursuant to the requirements of the TSX, the Transaction will need to be approved by 50% of the votes cast by Mogo shareholders at a special meeting of shareholders, which is expected to be held in January 2021. An information circular detailing the terms and conditions of the Transaction will be filed with regulatory authorities and mailed to the shareholders of Mogo in accordance with applicable securities laws. The Transaction will also be subject to regulatory approvals, in addition to other customary closing conditions, and is expected to close in the first quarter of 2021. The Arrangement Agreement includes customary deal-protection provisions, including non-solicitation of alternative transactions and break fees payable by Mogo and Carta, respectively, under certain circumstances.

Mogo’s Board of Directors have determined that the proposed transaction is in the best interest of the shareholders and have unanimously approved the Transaction. Mogo’s Board of Directors recommends that their shareholders vote in favor of the proposed transaction.

* Trademark of Visa International Service Association and used under licence by Peoples Trust Company. Mogo Visa Platinum Prepaid Card is issued by Peoples Trust Company pursuant to licence by Visa Int. and is subject to Terms and Conditions, visit mogo.ca for full details. Your MogoCard balance is not insured by the Canada Deposit Insurance Corporation (CDIC). MogoSpend is only available to MogoMembers with an activated MogoCard. MogoCard means the Mogo Visa Platinum Prepaid Card.

¹McKinsey & Company, Global Banking Practice, “The 2020 McKinsey Global Payments Report”. October 2020.

About Mogo

Mogo — a financial technology company — offers a finance app that empowers consumers with simple solutions to help them get in control of their financial health and be more mindful of the impact they have on society and the planet. We all know it’s time to do things differently. It’s time for a new way to manage our money, one that’s inclusive and sustainable. One that takes into account our financial health, the planet’s health and the health of our society. At Mogo, users can sign up for a free account in only three minutes and begin to learn the 4 habits of financial health and get convenient access to products that can help them achieve their financial goals and have a positive impact on the planet including a digital spending account with Mogo Visa* Platinum Prepaid Card featuring automatic carbon offsetting, free monthly credit score monitoring, ID fraud protection and personal loans. Members can also easily buy and sell bitcoin 24/7 through the Mogo app, as well as participate in Mogo’s new bitcoin rewards program. The Mogo platform has been purpose-built to deliver a best-in-class digital experience, with best-in-class products all through one account. With more than one million members and a marketing partnership with Canada’s largest news media company, Mogo continues to execute on its vision to gamify financial health and become the go-to financial app for the next generation of Canadians. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).

Mogo Cautionary Statement

This news release may contain “forward-looking statements” that relate to Mogo’s current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “may”, “might”, “will”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “seek”, “believe”, “predict” or “likely”, or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Mogo has based these forward-looking statements on its current expectations and projections about future events that it believes might affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements include, among other things, statements relating to completion of the Transaction, receipt of required shareholder and regulatory approvals for the Transaction, court approval of the Arrangement, the holding of the Mogo shareholder meeting and the mailing of the Mogo circular.

Forward-looking statements are based on certain assumptions and analyses made by Mogo in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and we cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, any investors or users of this document should not place undue reliance on these forward-looking statements.

The forward-looking statements made in this news release relate only to events or information as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Except as required by law, we do not assume any obligation to update or revise any of these forward-looking statements to reflect events or circumstances after the date of this news release, including the occurrence of unanticipated events. An investor should read this news release with the understanding that our actual future results may be materially different from what we expect.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005741/en/

Craig Armitage

Investor Relations

[email protected]

(416) 347-8954

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Professional Services Environment Technology Other Technology Software Finance Banking

MEDIA:

Posted on November 17, 2020 7:38 am

Todos Medical Announces Clinical Validation and National CLIA Certification for MOTO+PARA Mobile High Complexity Labs

NEW YORK, NY, TAMPA, FL and BATON ROUGE, LA, Nov. 17, 2020 (GLOBE NEWSWIRE) — via NewMediaWire —Todos Medical (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis, and developing blood tests for the early detection of cancer and Alzheimer’s disease, today announced the completion of clinical validation and CLIA certification for MOTO+PARA’s mobile lab. The Company’s mobile CLIA lab partner, Integrated Health LLC, has fully validated the clinical performance of the proprietary COVID-19 RT-PCR laboratory testing process performed in MOTO+PARA’s Mobile High Complexity Labs built to biosafety level 3 (BSL3), and has received the approval needed to begin offering COVID-19 screening and analysis as a service to clients anywhere in the United States. Rapid antigen and antibody testing also have been validated and are now ready to be deployed. MOTO+PARA is prepared to accept contracts from prospective clients immediately.

“We are thrilled to begin testing anywhere in the United States and worldwide with our first-of-their-kind mobile labs,” said Eric Canonico, CEO of MOTOPARA Foundation. “With the recent surge of COVID-19 cases, the upcoming holidays predicted to further drive case counts, and the need to pair COVID-19 testing with other tests and emerging vaccination programs, our highly scalable mobile lab solutions are exactly what is needed to address the challenges COVID-19 has placed on existing testing infrastructure. MOTO+PARA is prepared to deploy rapid antigen and antibody tests in addition to diagnostic testing with our onsite RT-PCRs, which can turn results around in as little as 4 hours.”

“We are confident that the validations we have completed and the systems we have implemented will enable high scalability for our mobile labs,” said Jeff Faucheaux, CEO of Integrated Health. “Being able to bring these all-encompassing COVID-19 testing solutions directly to the people will improve the end-to-end testing experience for the patient. This allows us to significantly reduce turnaround times for PCR testing and improve the value of each test we provide because the results will be available more quickly than with traditional lab methodologies.”

“The strategy of deploying all available testing solutions in the nation’s first high complexity mobile labs allows us to assist MOTO+PARA in designing COVID-19 surveillance programs that will meet the diverse needs of different constituents who need access to testing for a myriad of use cases that have emerged since the pandemic began,” said Gerald E. Commissiong, President & CEO of Todos Medical. “Whether it is making highly sensitive PCR testing available to government entities with turnaround times fast enough to dramatically reduce infection risk, screening fans before entering a stadium for sporting events, or supporting disaster relief efforts to ensure emergency responders are working in a COVID-free environment, we believe these mobile labs are the solution to many of the nation’s testing challenges. This distribution channel will also allow us to rapidly commercialize emerging novel COVID-19 lab-based testing and monitoring technologies we expect to come to market in the months ahead. “

For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid19.com

For testing and PPE inquiries, please email [email protected] .

About MOTOPARA Foundation, Inc.

MOTOPARA Foundation, Inc. dba MOTOPARA Foundation™, MOTOPARA™ and MOTO+PARA™ is based in Tampa, Florida, USA, as a not-for-profit corporation incorporated in 2010 as a 501(c)(3), non-profit Private Operating Foundation (POF) under the U.S. Internal Revenue Code. MOTOPARA Foundation serves as an non-governmental organization (NGO) dedicated to the research, development, education and implementation of mobility logistics for Global Disaster First Response™, and healthy sustainable lives connected with sciences, technology, engineering, arts and math, and the professions encompassing such sustainable and renewable resources both domestically and internationally.

MOTO+PARA™ is a neutral nonpartisan NGO providing an elite, asset-based logistics and mobility solution for search and rescue (SAR), reconnaissance (RECON), disaster response and humanitarian relief. It assists fellow NGOs, government agencies and foreign nations in rapid response and secure transport of personnel, supplies, and victims of urgent emergencies and disasters. MOTO+PARA employs full-time Veteran Special Operations Operators and Veterans of Special Operations Support and Logistics Operations who perform mission critical responses utilizing the extensive training and experience gained from their Military service. MOTO+PARA responds by air, sea, and land to get to “ground zero” of a crisis anywhere in the world, using equipment to clear paths and push through to disaster sites while also providing coordinated communications support, power, water, and protection.

MOTO+PARA’s COVID-19 Response is part of its Biological Protective Services & Response Division, which can serve countries around the world with its Mobile High Complexity Laboratories built to BSL-3 specifications, developed jointly with Integrated Health LLC.

www.motopara.org

About Integrated Health LLC

Integrated Health LLC, based in Baton Rouge, Louisiana, USA, is a health management solutions company with a mobile medical laboratory division that is the first CLIA-certified high complexity mobile laboratory built to BSL-3 specification in the western hemisphere. Integrated Health specializes in ensuring all communities have access to testing and laboratory services, whether urban, rural or extreme remote locations domestically and internationally. Integrated Health’s goal is to become the most innovative and biologically diverse company in the world, and offers an extensive array of testing to meet any community’s diagnostics testing needs.

www.integrated-health.com

About Todos Medical Ltd.

Headquartered in Rehovot, Israel, Todos Medical Ltd. (OTCQB: TOMDF) engineers life-saving diagnostic solutions for the early detection of a variety of cancers. The Company’s state-of-the-art and patented Todos Biochemical Infrared Analyses (TBIA) is a proprietary cancer-screening technology using peripheral blood analysis that deploys deep examination into cancer’s influence on the immune system, looking for biochemical changes in blood mononuclear cells and plasma. Todos’ two internally-developed cancer-screening tests, TMB-1 and TMB-2, have received a CE mark in Europe. Todos recently entered into an exclusive option agreement to acquire U.S.-based medical diagnostics company Provista Diagnostics, Inc. to gain rights to its Alpharetta, Georgia-based CLIA/CAP certified lab and Provista’s proprietary commercial-stage Videssa® breast cancer blood test. The transaction is expected to close in the third quarter of 2020.

Todos is also developing blood tests for the early detection of neurodegenerative disorders, such as Alzheimer’s disease. The Lymphocyte Proliferation Test (LymPro Test™) is a diagnostic blood test that determines the ability of peripheral blood lymphocytes (PBLs) and monocytes to withstand an exogenous mitogenic stimulation that induces them to enter the cell cycle. It is believed that certain diseases, most notably Alzheimer’s disease, are the result of compromised cellular machinery that leads to aberrant cell cycle re-entry by neurons, which then leads to apoptosis. LymPro is unique in the use of peripheral blood lymphocytes as a surrogate for neuronal cell function, suggesting a common relationship between PBLs and neurons in the brain.

Additionally, Todos has entered into distribution agreements with companies to distribute certain novel coronavirus (COVID-19) test kits. The agreements cover multiple international suppliers of PCR testing kits and related materials and supplies, as well as antibody testing kits from multiple manufacturers after completing validation of said testing kits and supplies in its partner CLIA/CAP certified laboratory in the United States. Todos has formed strategic partnerships with Integrated Health LLC, and MOTOPARA Foundation to deploy mobile COVID-19 testing and lab analysis in the United States.

For more information, please visit https://www.todosmedical.com/.

Forward-looking Statements

Certain statements contained in this press release may constitute forward-looking statements. For example, forward-looking statements are used when discussing our expected clinical development programs and clinical trials. These forward-looking statements are based only on current expectations of management, and are subject to significant risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of clinical trials and product development programs; difficulties or delays in obtaining regulatory approval or patent protection for product candidates; competition from other biotechnology companies; and our ability to obtain additional funding required to conduct our research, development and commercialization activities. In addition, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; delays or obstacles in launching our clinical trials; changes in legislation; inability to timely develop and introduce new technologies, products and applications; lack of validation of our technology as we progress further and lack of acceptance of our methods by the scientific community; inability to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties that may develop with our process; greater cost of final product than anticipated; loss of market share and pressure on pricing resulting from competition; and laboratory results that do not translate to equally good results in real settings, all of which could cause the actual results or performance to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Todos Medical does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Todos Medical, please refer to its reports filed from time to time with the U.S. Securities and Exchange Commission.

Todos Investor Contact:

Kim Sutton Golodetz

LHA Investor Relations

Senior Vice President

(212) 838-3777

[email protected]

Todos Corporate Contact:

Priyanka Misra

Todos Medical

(917) 983-4229 ext. 103

[email protected]

Media Contact:

Paula Angel-Jones

MOTOPARA Foundation

(813) 956-2458

[email protected]

Attachment

• mobile lab

Posted on November 17, 2020 7:33 am

Zoomd Reports Q3 2020 Results: Quarterly revenue growth of 12% year-over-year and up 17% quarter-over-quarter while reaching the first development milestone in releasing its self-serve SaaS product

PR Newswire

VANCOUVER, British Columbia, Nov. 17, 2020 /PRNewswire/ — Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) (https://www.zoomd.com) and its wholly-owned subsidiary Zoomd Ltd. (collectively, “Zoomd” or the “Company“), the marketing tech (MarTech) user-acquisition and engagement platform, today reported financial results for the threeand nine months ended September 30, 2020. The interim financial statements and interim MD&A are available on SEDAR under the Company’s profile.

 

 

“Weare excited to return to revenue growth, as some sectors return and increased their marketing budgets” said Ofer Eitan, Zoomd’s CEO, adding “Furthermore, webeen successful in attracting new clients in sectors such as E-commerce and FinTech who havebenefitted from the COVID-19 pandemic. Based on our most recent results, we believe that the markets are in the midst of a recovery from the disruptions caused by the COVID-19 pandemic. The rebound is scaling with our existing customers is testament to the strong return on investment we provide them.

Mr. Eitan further noted that “We remain on track with regards to the release of our Self-serve SaaS product during Q4 2020, and a full-scale launch expected during 2021. We remain excited about the product given its high margin and scalability potential. In October, we released the first version of our Self-Serve SaaS product and are progressing towards second milestone on the product roadmap, betarelease to collect customer feedback, during Q1 2021. As such, during the third quarter we pushed and increased even more our investment in R&D, however we expect R&D expenses to decrease to normalized levels in 2021.”

Mr. Eitan concluded by stating that “We are more excited than ever about Zoomd’s growth prospects going forward. We continue to have high customer retention levels and in recent months, have accelerated new customer growth. We believe that our ability to reach and service customers will expand exponentially as we roll out our Self-Serve SaaS product. From a financial standpoint we remain strong, with no debt and a robust balance sheet.”

THIRD QUARTER 2020 HIGHLIGHTS (ALL FIGURES ARE IN US$)

• Total revenue for the three months ended September 30, 2020 was $6.6 million compared to $5.9 million for the same period in 2019, an increase of 12%. The increase in revenues was primarily attributed to the increase in activity of existing customers and the Company penetrating into verticals that have benefitted from the COVID-19 pandemic, such as E-commerce and FinTech.
  As a result of the foregoing, quarter-over-quarter revenue growth was at 17%.
• Cost of sales and services for the three months ended September 30, 2020 was $4.6 million, representing an increase of approximately 15% compared to the same period in 2019. The increase was primarily attributed to the increase in revenues.
• Gross profit margin (revenue less cost of sales and services) of 31% compared to 32% for the same period in 2019. The decrease in gross margin was primarily attributable to increase in the sale of services that have lower margins relative to the other products and services offered by the Company. 
• Net loss for the three months ended September 30, 2020 was $1.5 million compared to net loss of $2.7 million for the three months ended September 30, 2019. The decrease in net loss was primarily attributed to the expenses incurred during 2019 related to mark-to-market adjustment of convertible debt securities that took place immediately prior to the closing of the qualifying transaction.
• Adjusted EBITDAof $(850) thousand for the three months ended September 30, 2020 compared to Adjusted EBITDA of $(380) thousand for the same period in 2019. The increase in the operating losses for the three months ended September 30, 2020 was primarily attributed to the Company’s growth plan causing an increase in research & development expenses due to the Company’s stages of developing the Company’s new Self-serve SaaS platform.
• As of September 30, 2020, the Company’s cash and cash equivalents amounted to $3 million compared to $5.9 million for the same period in 2019.
• As of September 30, 2020, the Company had working capital of $1.7 million, compared to approximately $5.8 million as of September 30, 2019.

Non-IFRS Measures

This press release refers to “Adjusted EBITDA” which is a non-GAAP and non-IFRS financial measure that does not have a standardized meaning prescribed by GAAP or IFRS. The Company’s presentation of this financial measure may not be comparable to similarly titled measures used by other companies. This financial measure is intended to provide additional information to investors concerning the Company’s estimated results. Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization and share-based compensation and is a measure of a company’s operating performance. Essentially, it is a way to evaluate a company’s performance without having to factor in financing decisions, accounting decisions or tax environments. The following table (all in $US thousands) shows the Company’s Non-IFRS measure (Adjusted EBITDA) reconciled to operating profit for the indicated periods:

	Three months ended
	September 30, 2020	September 30, 2019
Operating loss	(1,488)	(1,059)
Adjustments:
Depreciation and amortization	613	574
Cost of share-based payments	25	105
Total adjustments	638	679
Adjusted EBITDA	(850)	(380)