Market Newsdesk

VANCOUVER, British Columbia, Aug. 23, 2023 (GLOBE NEWSWIRE) — Liquid Media Group Ltd. (the “Company”) (Nasdaq: YVR) today announced that on August 21, 2023, the Company was notified by The Nasdaq Stock Market LLC (“Nasdaq”) that, based upon the Company’s continued non-compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), and the filing requirement set forth in Nasdaq Listing Rule 5250(c)(1), the Company’s securities will be suspended from trading on Nasdaq effective with the open of business on Wednesday, August 23, 2023. Following the lapse of any applicable Nasdaq review and appeal periods, Nasdaq will file a Form 25 to formally effect the delisting of the Company’s securities from the exchange.

The Company is seeking to have its common shares quoted on the OTC Markets system (www.OTCMarkets.com). Further information on this transition will follow as it becomes available.

The Company was previously granted an extension through August 28, 2023, to regain compliance with both the bid price and filing requirements. On August 7, 2023, the Company implemented a reverse stock split in an effort to remedy the bid price deficiency; however, the Company’s closing bid price remains below the minimum Nasdaq threshold of US$1.00 per share, thereby rendering the Company unable to satisfy the bid price requirement – by evidencing a closing bid price of at least US$1.00 per share for the requisite minimum ten consecutive trading day period as required by the Nasdaq Listing Rules – by August 28, 2023.

The Company continues to work to resolve the late reporting from subsidiary Digital Cinema United (“DCU”), in order to bring financial statement reporting into compliance with the British Columbia Securities Commission’s (“BCSC”) requirements.

About Liquid Media Group Ltd.

Liquid Media Group Ltd. is an entertainment company empowering independent IP creators. Liquid’s end-to-end solution enables professional video (film/TV and streaming) creation, packaging, financing, delivery, and monetization, empowering IP creators to take their professional content from inception through the entire process to monetization.

Additional information is available at www.LiquidMediaGroup.co.

Cautionary Note Regarding Forward-Looking Statements

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events These statements should not be read as guarantees of future performance or results. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such factors include, but are not limited to: regulatory actions, market prices, continued availability of capital and financing, and general economic, market or business conditions, as well as additional risks disclosed in the Company’s annual and quarterly financial reports available at www.sedar.com and annual report on Form 20-F as well as other reports filed with the SEC at www.sec.gov. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

CONTACT:

Investors / Business
Justin Kulik
CORE IR
[email protected] 

SOMERSET, N.J., Aug. 23, 2023 (GLOBE NEWSWIRE) —
CareCloud, Inc. (Nasdaq: CCLD, CCLDP, CCLDO), a leader in health care technology solutions for medical practices and health systems nationwide, today announced its sponsorship of the 7th Annual Gulfcoast Orthopaedic Rehabilitation Conference, set to take place on August 26, 2023, in Sarasota, Florida. This event gathers orthopaedic surgeons, physical therapists, and occupational therapists in an interactive platform aimed at fostering education, collaboration, and advancements in orthopaedic rehabilitation.

The Gulfcoast Orthopaedic Rehabilitation Conference serves as a platform for knowledge exchange and professional networking within the orthopaedic field. With a focus on both didactic lectures and interactive panel discussions, the conference enables orthopaedic surgeons and therapists to discuss the latest treatment methodologies for various upper and lower extremity conditions. Attendees will gain insights into the critical role that physical and occupational therapy plays in the comprehensive management of these disorders.

As a sponsor of this event, CareCloud reiterates its commitment to driving innovation in healthcare technology and improving patient outcomes. The company recognizes the significance of fostering collaboration between medical professionals to enhance the quality of care provided to patients in need of orthopaedic rehabilitation.

“At CareCloud, we simplify the intricate orthopaedic billing process,” said Angela Brown, director of business development at CareCloud. “Our services encompass managing denied claims, providing prior authorization support, and ensuring accurate coding and billing. We excel in workers’ compensation cases and advanced coding, optimizing reimbursements. By leveraging cutting-edge technology and specialized knowledge, we offer tailored solutions for orthopaedic providers, freeing them to focus on exceptional patient care. Our tailored solution reflects commitment, sponsoring the 7th Annual Gulfcoast Orthopaedic Rehabilitation Conference, fostering medical collaboration and advancing patient care.”

The 7th Annual Gulfcoast Orthopaedic Rehabilitation Conference offers an ideal platform for participants to engage in open question-and-answer sessions with leading orthopaedic surgeons. The exchange of ideas and expertise facilitates the evolution of best practices in orthopaedic rehabilitation, ultimately contributing to improved patient outcomes and enhanced quality of life.

Attendees of the conference have the opportunity to earn continuing educational units (CEUs), further underlining the event’s commitment to providing valuable educational resources for professionals in the field.

CareCloud is excited to join the Gulfcoast Orthopaedic Rehabilitation Conference as a sponsor and looks forward to contributing to the success of this impactful event. For more information about CareCloud’s innovative healthcare technology solutions, please visit carecloud.com.

About
CareCloud

CareCloud (Nasdaq: CCLD, CCLDP, CCLDO) brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health, at www.carecloud.com.

Follow CareCloud on LinkedIn, Twitter and Facebook.

SOURCE CareCloud

Company Contact:

Bill Korn
Chief Strategy Officer
CareCloud
[email protected]

Investor Contact:

Asher Dewhurst
ICR Westwicke
[email protected]

Media Inquiries:

Alexis Feinberg
ICR Westwicke
[email protected]

GRANT-VALKARIA, Fla., Aug. 23, 2023 (GLOBE NEWSWIRE) — Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) (“Kaival Brands,” the “Company” or “we,” “our” or similar terms), today announced a general business outlook update. The Company has been actively maintaining an outlook of positive change as it seeks to grow in a diversified way.

UNPRECEDENTED EARLY GROWTH

In less than 12 months of initial operations, Kaival Brands achieved over $100 million in gross revenues through distribution of the BIDI^® Stick. Since then, the Company has continued to navigate significant regulatory turbulence within the domestic United States ENDS market. To augment our core offering, the Company has continued to pursue pathways for diversification.

Regulatory Hurdles:

¹

• Bidi Vapor submitted PMTAs for all 11 flavor varieties (9 flavored ENDS plus Menthol and Tobacco) of its BIDI® Stick prior to the court-ordered September 9, 2020, PMTA deadline, despite considerable business and logistical challenges due to the COVID-19 pandemic. The detailed applications ran over 285,000 pages and contained significant information supporting the products as appropriate for the protection of the public health – including robust and reliable scientific data supporting that its flavored BIDI® Sticks provide an added benefit to adult smokers over tobacco-flavored ENDS.
• Despite submitting scientifically rigorous PMTAs and keeping the FDA informed about its ongoing clinical and behavioral studies, among other things, Bidi Vapor received a marketing denial order (“MDO”) for its flavored BIDI® Sticks, along with nearly all other manufacturers of flavored ENDS, in early September 2021. On September 29, 2021, Bidi Vapor subsequently filed a Petition for Review with the U.S. Court of Appeals for the Eleventh Circuit, seeking judicial review of the MDO under the Tobacco Control Act (“TCA”), the Administrative Procedure Act (“APA”), as well as the U.S. Constitution.
• On February 1, 2022, U.S. Court of Appeals for the Eleventh Circuit granted a judicial stay of the marketing denial order (“MDO”) previously issued by the U.S. Food and Drug Administration (“FDA”) to Bidi Vapor in September 2021.
• The stay ruling allowed Bidi Vapor and Kaival Brands to continue to market and sell all of its BIDI® Stick ENDS, including its tobacco, menthol and flavored products, while the case on the merits continued.
• Following the judicial stay of the MDO issued in February 2022, on August 23, 2022, the 11th Circuit granted Bidi Vapor’s petition for review and set aside and remanded the MDO, which the Court held was arbitrary and capricious because FDA failed to consider relevant evidence before it, specifically Bidi Vapor’s aggressive and comprehensive marketing and sales-access-restrictions plans.
• Despite the issuance of MDOs covering over 1.2 million flavored ENDS products, the FDA failed to adequately enforce the denials at the ground level. This lack of enforcement allowed the sale of illegal products to continue, accelerating the tailwinds created during the pandemic, where e-cigarette sales surged², with the spike concentrated in disposable vapes after they took a back seat in federal enforcement actions.

MAXIMIZING THE GROWTH OF BIDI
^®
STICK

The Company remains committed to maximizing the growth and distribution of its core offering, the BIDI^® Stick. In June, the Company announced it has relaunched distribution of the BIDI^® Stick in over 1,000 Circle K locations, with a 5,000-store ramp-up underway within the South Atlantic and Midwest regions³, and launched in over 900 Kwik Trip and Mapco locations nationwide, with a ramp-up to over 1,200 locations.⁴

Capitalizing on the Tailwinds of Increased FDA Enforcement

In May 2023, the FDA launched a self-proclaimed “Inspection Blitz,” which underscores the agency’s unwavering commitment to addressing the issue facing America’s youth.⁵

Both the Company and Bidi Vapor have remained steadfastly committed to compliance and youth-access prevention. That commitment, along with the renewed focus and commitment by retailers, will continue to help educate consumers and raise awareness about the importance of youth access prevention and buying legitimate, non-illicit products. As reiterated by Brian King, Ph.D., M.P.H., director of the FDA’s Center for Tobacco Products (CTP), “all players in the supply chain—including retailers—have a role in keeping illegal e-cigarettes off the shelves.⁶”

The Company is encouraged by the renewed momentum we are experiencing (subject as always to FDA enforcement discretion) with retailers like Circle K, Kwik Trip, and Mapco who champion compliance and youth-access prevention and recognize our ongoing efforts since last year to educate retailers and distributors of the business value of marketing BIDI® Stick versus non-compliant competition. Of course, the goal is to capitalize on this momentum in orders as we seek to increase our revenues during the remainder of 2023 and beyond.⁴

Completed FDA Reviews of Market Dominant PMTAs Expected by December 2023
⁷

The FDA has recently provided a timeline on anticipated reviews of covered PMTAs to be completed. Covered PMTAs are limited only to: 1) new tobacco products on the market by Aug. 8, 2016; 2) must have been filed by the Sept. 9, 2020; and 3) products sold under the brand names Vuse, Juul, NJOY, Logic, SMOK, Blu, Puff Bar or Suorin, or that reach 2% of total retail dollar sales as reported in the Total E-Cig Market and Players report or the Disposable E-Cig Market and Players report, as produced by Chicago-based NielsenIQ.

BIDI® Stick: 1) was on the market prior to August 8, 2016; 2) PMTAs were filed by the September 9, 2020 deadline; and 3) has consistently been the number one disposable vape product for more than twenty-four months since 2021 and has consistently reached 2% of total retail dollar sales as reported in the Total E-Cig Market and Players report or the Disposable E-Cig Market and Players report, as produced by Chicago-based NielsenIQ.

The FDA anticipates action on:

52% of covered PMTAs by March 31;
53% of covered PMTAs by June 30;
55% of covered PMTAs by Sept. 30; and
100% of covered PMTAs by Dec. 31.

MILESTONE PATENT PORTOFOLIO ACQUISITION

GoFire Patent Portfolio Acquisition

Acquisition from GoFire includes 12 issued and 46 pending patents.⁸ The GoFire patent portfolio includes 12 existing and 46 pending with novel technologies across extrusion dose control, product preservation, tracking and tracing usage, multiple modalities (i.e., different methods of vaporizing) and child safety. The patents and patent applications cover territories including the United States, Australia, Canada, China, the European Patent Organisation, Israel, Japan, Mexico, New Zealand and South Korea. The portfolio also includes a proprietary mobile device software application that is used in conjunction with certain patents in the portfolio.

The acquired patent portfolio includes the following:
⁹

• Controlled Delivery- Patented Twist-to-Dose™ technology utilizes a micro-threaded piston that provides consistent and precise delivery of consumables. There is an audible “click” so the consumer knows exactly how much is inhaled with each use.

  MHRA Requirements- Technology is designed to meet all Medicines and Healthcare products Regulatory Agency (MHRA) requirements in the United Kingdom.

• Bluetooth Child Safety App and Mechanical Cartridge Protection- A dual lockout system including a child safety lockout via Bluetooth app and child safety measures built mechanically into the cartridge design to prevent accidental consumption by minors.

• Flavor Delivery and Experience to Last Puff- Patented technology eliminates the bad taste that is associated with oil and e-liquid degradation. The RefreshFlavor™ technology is designed in a novel way to keep the vaporized solution safely away from the heating chamber until the moment it is consumed.

• Leak Proof Design and Removal of Cutting Agents- Patented sealed reservoir prevents leaks from occurring. Ordinary cartridges rely on dangerous thinning agents and wicks to deliver the oil and e-liquid to the heating chamber. The Twist-to-Dose™ technology with micro-threaded piston system can directly extrude oil into the heating chamber decreasing carbonyl and analyte formation.

• Authentication System/Counterfeit Protection- The acquired patents also include novel cartridge/pod identification and authentication/counterfeit protection capabilities.

• Dry Puff Protection- Certain elements of the acquired technologies design mitigate “dry puffs” which can occur when the consumable reservoir in a vaping/inhalation device is depleted, allowing the coil or wick to burn dry and emit potentially harmful toxins.

• 510 and Pod Compatibility- The technology included in the acquired patents is compatible with both the universal 510 thread format as well as pod-based systems, the dominant formats of vaporizer and inhalation technologies.

• Product Remaining Indicators- The acquired technology provides indicators allowing for consumer insight into remaining product supply.

EXPLORING NEW REVENUE STREAMS AND OPPORTUNITIES:

Potential Revenue Opportunities with Recently Acquired Patent Portfolio

The Company is also pursuing capital-efficient opportunities to accelerate the potential monetization of its recently acquired patent portfolio. We are actively seeking third-party licensing opportunities in the cannabis, hemp/CBD, nicotine and nutraceutical markets. Longer term, we believe we can utilize the acquired patents to create innovative and market-disruptive products for its growing base of adult consumers, including patent protected vaporizer devices and related hardware and software applications.⁹

Ongoing Consideration of Further M&A Opportunities

We continue to remain open to, and exploring, opportunities to acquire new products and technologies that can be monetized utilizing our existing network and manufacturing capabilities.

We are actively seeking to expand our portfolio through acquiring controlling interest in or exclusively distributing innovative and profitable products and growing them into dominant brands for their respective share markets.

PHILIP MORRIS INTERNATIONAL AMENDMENT & EXPECTED ROYALTIES
^1
0

Amended Agreement with Philip Morris International

On August 17^th, the Company, through its wholly-owned subsidiary, Kaival Brands International (“KBI”) entered into an amended agreement with Philip Morris Products S.A. (“PMPSA”), a wholly owned affiliate of Philip Morris International Inc. (“PMI”) (NYSE: PM), for the development and distribution of electronic nicotine delivery system (“ENDS”) products in markets outside of the U.S.

Under the terms of the amended agreement, the parties agreed to revise certain terms, which provide for, among other things, a fixed pricing structure with volume-driven increases and a recapture of non-recurring engineering costs by KBI. Accordingly, the Company expects a reconciliation payment of approximately $135,000, which brings the total amount of royalties earned by the Company since July 2022 to over $400,000.

Expected Royalties

Furthermore, the Company projects approximately $300,000 in additional royalties to be earned through the end of 2023, with an anticipated increasing trajectory of royalty income.

Eric Mosser, Chief Executive Officer of Kaival Brands, stated, “We are extremely pleased to reach an agreement that shall enable us to achieve cost savings of approximately $2.7 million for the Company over the lifetime of the license agreement. It also enables better predictability and forecasting for KBI and streamlines data reporting. We anticipate that the acceleration of royalty payments will be a net positive to our financial performance over the duration of the agreement. Some people may be betting against the success of Kaival Brands, but we will not be deterred from increasing value while building a successful, diversified, and profitable company.”

Additional information regarding this amendment will be provided in a Current Report on Form 8-K being filed by Kaival Brands with the Securities and Exchange Commission.

<sup>1 https://www.prnewswire.com/news-releases/bidi-vapor-wins-judicial-stay-of-fdas-marketing-denial-order-301474799.html

2 https://rollcall.com/2023/06/22/disposable-vape-sales-soared-after-fda-focused-efforts-elsewhere/

3 https://www.globenewswire.com/en/news-release/2023/06/14/2688049/0/en/Kaival-Brands-Relaunches-Distribution-of-BIDI-Stick-in-Over-1-000-Circle-K-Locations.html 

4 https://www.globenewswire.com/en/news-release/2023/06/15/2688871/0/en/Kaival-Brands-Launches-Distribution-of-BIDI-Stick-in-Over-900-Kwik-Trip-and-Mapco-Locations.html

5 https://www.fda.gov/news-events/press-announcements/fda-conducts-retailer-inspection-blitz-cracks-down-illegal-sales-popular-disposable-e-cigarettes 

6 https://www.fda.gov/news-events/press-announcements/fda-inspection-blitz-leads-more-180-warning-letters-retailers-illegal-sale-youth-appealing-elf-bar

7 FDA Will Finish Reviewing E-Cigarette PMTAs by End of Year (cspdailynews.com)

8 Kaival Brands Acquires Extensive Vaporizer and Inhalation (globenewswire.com)

9 https://www.globenewswire.com/en/news-release/2023/06/09/2685507/0/en/Kaival-Brands-Looks-to-Address-Key-Market-Opportunities-Following-Acquisition-of-Extensive-Vaporizer-and-Inhalation-Patent-Portfolio.html

10 https://www.globenewswire.com/en/news-release/2023/08/17/2727648/0/en/Kaival-Brands-Amends-Agreement-with-Phillip-Morris-International-for-Distribution-of-ENDS-Products.html</sup>

ABOUT KAIVAL BRANDS

Based in Grant-Valkaria, Florida, Kaival Brands is a company focused on incubating innovative and profitable adult-focused products into mature and dominant brands, with a current focus on the distribution of electronic nicotine delivery systems (ENDS) also known as “e-cigarettes”. Our business plan is to seek to diversify into distributing other nicotine and non-nicotine delivery system products (including those related to hemp-derived cannabidiol (known as CBD) products). Kaival Brands and Philip Morris Products S.A. (via sublicense from Kaival Brands) are the exclusive global distributors of all products manufactured by Bidi Vapor.

Learn more about Kaival Brands at https://ir.kaivalbrands.com/overview/default.aspx.

ABOUT KAIVAL LABS

Based in Grant-Valkaria, Florida, Kaival Labs is a 100% wholly-owned subsidiary of Kaival Brands focused on developing new branded and white-label products and services in the vaporizer and inhalation technology sectors. Kaival Labs’ current patent portfolio consists of 12 existing and 46 pending with novel technologies across extrusion dose control, product preservation, tracking and tracing usage, multiple modalities and child safety. The patents and patent applications cover territories including the United States, Australia, Canada, China, the European Patent Organisation, Israel, Japan, Mexico, New Zealand and South Korea. The portfolio also includes a fully-functional proprietary mobile device software application that is used in conjunction with certain patents in the portfolio.

Learn more about Kaival Labs at https://kaivallabs.com.

ABOUT BIDI VAPOR

Based in Melbourne, Florida, Bidi Vapor maintains a commitment to responsible, adult-focused marketing, supporting age-verification standards and sustainability through its BIDI^® Cares recycling program. Bidi Vapor’s premier device, the BIDI^® Stick, is a premium product made with high-quality components, a UL-certified battery and technology designed to deliver a consistent vaping experience for adult smokers 21 and over. Bidi Vapor is also adamant about strict compliance with all federal, state and local guidelines and regulations. At Bidi Vapor, innovation is key to its mission, with the BIDI^® Stick promoting environmental sustainability, while providing a unique vaping experience to adult smokers.

Nirajkumar Patel, the Company’s Chief Science and Regulatory Officer and director, owns and controls Bidi Vapor. As a result, Bidi Vapor is considered a related party of the Company.

For more information, visit www.bidivapor.com.

Cautionary Note Regarding Forward-Looking Statements

This press release and any statements of the Company’s management and partners related to the subject matter hereof includes statements that constitute “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), which are statements other than historical facts. You can identify forward-looking statements by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “position,” “should,” “strategy,” “target,” “will,” and similar words. All forward-looking statements speak only as of the date of this press release. Although the Company believes that the plans, intentions, and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions, or expectations will be achieved. Therefore, actual outcomes and results (including, without limitation, the anticipated benefits to the Company of the PMI License Amendment, including the Company’s anticipations about potential royalties receivable from PMPSA as described herein) could materially and adversely differ from what is expressed, implied, or forecasted in such statements. The Company and PMPSA’s businesses may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect results, and are often beyond the control of the parties. Factors that could cause or contribute to such differences include, but are not limited to: (i) future actions by the FDA or its non-U.S. equivalents with respect to the Company’s or PMPSA’s products, (ii) the outcome of FDA’s scientific review of Bidi Vapor’s pending FDA Premarket Tobacco Product Applications, (iii) the results of international marketing and sales efforts by PMPSA, (iv) how quickly domestic and international markets adopt the Company’s products, (v) the scope of future regulatory activity in the ENDS industry, (vi) general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth, (vii) circumstances or developments that may make the Company or PMPSA unable to implement or realize anticipated benefits, or that may increase the costs, of our current and planned business initiatives, (viii) significant changes in the Company’s relationship with PMPSA or other distributors or sub-distributors and (ix) other factors detailed by the Company in our public filings with the Securities and Exchange Commission, including the disclosures under the heading “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended October 31, 2022, filed with the Securities and Exchange Commission on January 27, 2023 and accessible at www.sec.gov. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Except as required under the federal securities laws and the Securities and Exchange Commission’s rules and regulations, we do not have any intention or obligation to update any forward-looking statements publicly, whether as a result of new information, future events, or otherwise.

Kaival Brands Investor Relations:

Brett Maas, Managing Partner
Hayden IR
(646) 536-7331
[email protected]

BASKING RIDGE, N.J., Aug. 23, 2023 (GLOBE NEWSWIRE) — Today, Verizon Business released the 2023 Payment Security Report insights. The 2023 PSR white paper coincides with the approaching compliance deadline of the Payment Card Industry Data Security Standard (PCI DSS) version 4.0. This update to the current PCI DSS is the largest change since 2004. These updates will affect all organizations that store, process or transmit cardholder data, from e-commerce to the public sector.

Compliance with PCI DSS v4.0 is strongly encouraged by March 31, 2024 as v3.2.1 will expire. The standard has numerous updates and 64 new requirements. As organizations navigate this new standard, the 2023 PSR provides the tools to address critical areas in security management program design to not only meet the deadline but also set an organization up for long term success. This includes the role of PCI security integration into larger corporate governance, risk management, and compliance initiatives as well as the tools needed for modern program design.

“Compliance is often seen as an added complexity to an already challenging task of securing digital payments in the face of evolving threat actor capabilities,” said Kris Philipsen, Managing Director of Cybersecurity Consulting at Verizon. “Fortunately, highly effective methods to achieving payment security compliance exist and are outlined in the Verizon Payment Security Report not only help make PCI DSS v4.0 outcomes highly predictable, but moreover allow organizations to achieve breakthrough performance enhancements in security program design.”

The 2023 PSR helps to guide organizational leaders through designing and managing a PCI security compliance program, offering adaptable models for organizations to use. The report also notes leading management methods for identifying and overcoming the most significant constraints, providing a process for clarifying root causes of poor security program performance.

“The March 2024 retirement date for PCI DSS v3.2.1 is rapidly approaching,” says Lance Johnson, Executive Director of PCI SSC. “The PCI Security Standards Council is committed to helping organizations understand the latest version of PCI DSS. To do this, the Council has created a PCI DSS v4.0 Resource Hub, which houses resources to help organizations better understand the Standard. By understanding what PCI DSS v4.0 means for your organization, you can take the necessary steps to achieve a smooth and efficient transition.”

The top five insights businesses need to know:

1. As PCI DSS requirements evolve, so should security programs.
2. Data security and compliance success is achieved by design – not by luck.
3. Leading management methods simplify program management complexity, helping organizations to be economic and achieve more with less.
4. Organizations should design security programs to focus on what matters most and overcome the most important constraints.
5. An integrated program management design can be applied to new programs and vastly improve existing programs.

Read the 2023 Verizon PSR insights white paper, and learn more about the best practices for organizations to implement the PCI DSS v4.0.

About the Verizon Business 2022 Payment Security Report

Verizon published the industry’s first analysis on the global state of compliance of PCI DSS in the 2010 Verizon PCI Compliance Report, now called the Payment Security Report (PSR). Based on global data gathered by qualified security assessors (QSAs) from Verizon and other external contributors, with additional comparisons between geographic regions (Americas, EMEA and APAC), the report explores why some companies accomplish more than others in their efforts to achieve sustainable and effective data security. Since its inception, the PSR has tracked compliance ups and downs, while keeping a finger on the pulse of the changing payment security landscape.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $136.8 billion in 2022. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

Media contact:
Carlos Arcil
+1.908-202-0479
[email protected]

WASHINGTON, Aug. 23, 2023 (GLOBE NEWSWIRE) — ibex (NASDAQ: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced its sponsorship of the 2023 Creighton Farms Invitational on August 27-28 at Creighton Farms in Aldie, VA. 

The 2023 Creighton Farms Invitational will benefit the Nicklaus Children’s Health Care Foundation and the PKU Hope Foundation. The PKU Hope Foundation was founded by Creighton Farms members Jerry and Jill Elkins, whose son Hudson was born in 2013 with PKU (Phenylketonuria). The mission of the PKU Hope Foundation is to improve the quality of life for those with PKU by fostering community, supporting research for PKU treatments, reducing the burden of managing the PKU diet, and advocating for the community.

PKU is an inherited medical condition in which the body can’t break down an amino acid called phenylalanine. Babies with PKU appear healthy for the first few months of life, but without treatment, phenylalanine builds up in the blood, and they begin to show signs and symptoms of the illness at about six months of age. Each year in the U.S., about one in 10,000 to 15,000 babies are born with PKU.

“ibex is proud to sponsor this outstanding event to help drive awareness and support the treatment and prevention of childhood illnesses,” said Bob Dechant, Chief Executive Officer of ibex. “Both the Nicklaus Children’s Health Care Foundation and the PKU Hope Foundation have done so much to help children and their families manage and treat devastating illnesses, including PKU. It is an honor for the ibex family to be part of those efforts.”

Jack and Barbara Nicklaus established the Nicklaus Children’s Health Care Foundation in 2004, in an effort to provide families access to world-class pediatric health care. Collaborating with Nicklaus Children’s Hospital and pediatric hospitals across the country, the Foundation has made a tremendous impact by supporting innovative programs focused on the diagnosis, treatment, and prevention of childhood illnesses.

ibex supports local communities and causes through ibex Cares, its global philanthropic program. ibex Cares expects to donate more than $250,000 to local charities and disaster relief this year.

About ibex

ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage, and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of 31 operations facilities around the world, while deploying next-generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.

ibex leverages its diverse global team of over 30,000 employees together with industry-leading technology, including its Wave X platform, to manage nearly 200 million critical customer interactions, adding over $2.2B in lifetime customer revenue each year and driving a truly differentiated customer experience. To learn more, visit our website at ibex.co and connect with us on LinkedIn.

Media Contact:

Dan Burris, ibex
[email protected]

Investor Contact:

Michael Darwal, ibex
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/872530bc-ac58-45e9-a477-e341173f30d0

NEW BRAUNFELS, Texas, Aug. 23, 2023 (GLOBE NEWSWIRE) — TaskUs, Inc (Nasdaq: TASK), a leading provider of outsourced digital services and next-generation customer experience to the world’s most innovative companies, was recognized as a Major Contender in Everest Group’s Banking Operations – Service PEAK Matrix® Assessment 2023. The recognition of TaskUs’ Risk + Response business, appearing in this report for the first time among significantly larger and more established competitors, reflects its achievements in helping banks fight new forms of online fraud and financial crime and the cost of complying with increasing regulatory complexity.

TaskUs’ Risk + Response works with large and innovative banks across the ecosystem, providing digital identity verification, fincrime compliance, and anti-fraud solutions. The company seamlessly integrates a geographically dispersed workforce with robust technological proficiencies, further strengthened by strategic collaborations with Hummingbird RegTech—an advanced compliance platform—and Quavo, the world’s leading provider of automated, cloud-based fraud and dispute SaaS solutions.

“Enterprises are proactively gearing up for future demands by using outsourcing organizations such as TaskUs to bolster their agility and resilience,” noted Sean Neighbors, Senior Vice President for TaskUs Global Offerings. “We help businesses navigate business demand and preempt market shifts by leveraging offensive and defensive strategies to combat concerns such as the rise in financial crimes due to AI.”

“Amid shifting interest rates and decreased loan volumes, clients are prioritizing digital prowess for heightened resilience in advance of the next market upswing,” said Pragya Agarwal, Global Head of TaskUs Risk + Response. “We’re pleased Everest Group and our clients recognize we are a Major Contender in banking practices and agile technology through our top-tier partners.”

About TaskUs

TaskUs is a leading provider of outsourced digital services and next-generation customer experience to the world’s most innovative companies, helping its clients represent, protect and grow their brands. Leveraging a cloud-based infrastructure, TaskUs serves clients in the fastest-growing sectors, including social media, e-commerce, gaming, streaming media, food delivery and ride-sharing, Technology, FinTech and HealthTech. As of June 30, 2023, TaskUs had a worldwide headcount of approximately 47,000 people across 27 locations in 13 countries, including the United States, the Philippines and India.

Investor Contact

Alan Katz
Investor Relations
[email protected]

Media Contact

Lisa Wolford
Corporate communications
[email protected]

Analyst Contact

Aditya Modi
Analyst and Advisor Relations
[email protected]

SAN CARLOS, Calif., Aug. 23, 2023 (GLOBE NEWSWIRE) — Check Point Research (CPR), the Threat Intelligence arm of Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cyber security solutions globally, has unveiled its 2023 Mid-Year Security Report. The report uncovers an unsettling 8% surge in global weekly cyberattacks in the second quarter, the most significant increase in two years, highlighting how attackers have cunningly combined next-gen AI technologies with long-established tools like USB devices to conduct disruptive cyberattacks. The report also showcases how ransomware attacks have escalated in the first half of the year with new ransomware groups coming into the scene.

From the triple extortion attack on the University of Manchester to the rise of new group Anonymous Sudan targeting western organizations, the 2023 Mid-Year Security Report uncovers the trends and behaviors that have defined the year so far.

Key insights from the 2023 Mid-Year Security Report include:

• Ransomware groups have stepped up their game, exploiting vulnerabilities in commonly used corporate software and shifting their approach from data encryption to data theft.
• USB Devices have resurfaced as significant threats, with both state-affiliated groups and cybercriminals deploying USB drives as vectors for infecting organizations globally.
• Hacktivism has seen a rise, with politically motivated groups launching attacks on selected targets.
• Artificial Intelligence misuse has amplified, with generative AI tools being used to craft phishing emails, keystroke monitoring malware, and basic ransomware code, calling for stronger regulatory measures.

In H1 2023, 48 ransomware groups have breached over 2,200 victims, with Lockbit3 being the most active, reporting a 20% increase in victims compared to H1 2022. The emergence of new groups like Royal and Play is associated with the termination of Hive and Conti Ransomware-as-a-Service (RaaS) groups. In terms of geography, 45% of victims are in the US, with an unexpected rise in Russian entities due to the novel actor “MalasLocker”, which substitutes ransom demands with charitable donations. The manufacturing and retail sectors have seen the most victims, suggesting a shift in ransomware attack strategy.

“Criminal activities have continued to rise in the first half of the year, with an 8% surge in global weekly cyberattacks in the second quarter marking the highest volume in two years. Familiar threats such as ransomware and hacktivism have evolved further, with threat groups modifying their methods and tools to infect and affect organizations worldwide. Even legacy technology such as USB storage devices, which have long been gathering dust in desk drawers, have gained popularity as a malware messenger.” said Maya Horowitz, VP Research at Check Point Software.

“Organizations need to build a cyber resiliency strategy and strengthen their defenses by adopting a prevention-first, integrated approach to cyber security. Cyberattacks are inevitable but can be largely prevented by proactive measures and the right security technologies”.

The 2023 Mid-Year Security Report provides a comprehensive account of the cyber-threat landscape. The findings are based on data drawn from the Check Point ThreatCloud Cyber-Threat Map which looks at the key tactics’ cybercriminals are using to carry out their attacks. A full copy of the report is available here: https://pages.checkpoint.com/2023-mid-year-cyber-security-report.html

Follow Check Point Research via:

Blog: https://research.checkpoint.com/ 
Twitter: https://twitter.com/_cpresearch_ 

About Check Point Research 

Check Point Research provides leading cyber threat intelligence to Check Point Software customers and the greater intelligence community. The research team collects and analyzes global cyber-attack data stored on ThreatCloud to keep hackers at bay, while ensuring all Check Point products are updated with the latest protections. The research team consists of over 100 analysts and researchers cooperating with other security vendors, law enforcement and various CERTs. 

About Check Point Software Technologies Ltd.  

Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading provider of cybersecurity solutions to corporate enterprises and governments globally. Check Point Infinity’s portfolio of solutions protects enterprises and public organisations from 5^th generation cyberattacks with an industry leading catch rate of malware, ransomware and other threats. Infinity comprises four core pillars delivering uncompromised security and generation V threat prevention across enterprise environments: Check Point Harmony, for remote users; Check Point CloudGuard, to automatically secure clouds; and Check Point Quantum, to protect network perimeters and datacenters, all controlled by the industry’s most comprehensive, intuitive unified security management; Check Point Horizon, a prevention-first security operations suite. Check Point protects over 100,000 organizations of all sizes.          

MEDIA CONTACT:	INVESTOR CONTACT:
Emilie Beneitez Lefebvre	Kip E. Meintzer
Check Point Software Technologies	Check Point Software Technologies
[email protected]	[email protected]

 

Football Favorites
and Kick
s
tand
Cocktails
Founder
Darren Rovell
and More
Get in the Game
f
or Fall

LOS ANGELES, Aug. 23, 2023 (GLOBE NEWSWIRE) —

Native Grill & Wings
, known for its signature wings and vibrant atmosphere, today announces its annual Gridiron Classic fall menu. This year, Native will raise the stakes by partnering with Kickstand Cocktails, the spice-forward vodka canned cocktail brand. The limited menu featuring Kickstand Cocktails flavors and giveaways is available now and will run through Dec. 17.

The Gridiron Classic’s limited-time menu items are sure to provide fans an authentic tailgating experience, regardless of their proximity to the field. Playing into classic football fare, Native will feature Steak Fingers –fried steak fingers, marinated and seasoned in a homestyle batter and tossed in a medium Buffalo sauce, then garnished with blue cheese crumbles and green onions – or tossed with Sweet Red Chile sauce garnished with green onions and sesame seeds. After a successful top-secret run for National Chicken Wing Day, Native’s Secret Weapon Wings, which feature traditional Buffalo sauce with a garlic pepper twist, will also make their official debut on the menu.

In partnership with Kickstand Cocktails, other limited-time specials from Native will include the Honey Hot Wings Kickstand Combo – ten traditional wings tossed in Honey Hot Sauce, served with seasoned fries and a Kickstand. Perfect for groups, the Football Kickstand Bundle will include a 14” Pepperoni Pizza, 15 traditional wings, Family-Sized Fries, and four Kickstands. Throughout the promo, Kickstand Cocktails will be available in two flavors – Roasted Jalapeño Cucumber and Charred Pineapple Poblano. Each canned cocktail is made with premium vodka and a touch of heat – unlocking a complex flavor profile with a spicy kick.

“We are thrilled to partner with Native Grill & Wings to bring some extra heat to this year’s football season,” said Darren Rovell, Founder and CEO of Kickstand Cocktails. “Native Wings & Grill is the perfect complement to our spicy canned cocktail lineup, and we can’t wait for fans to try our perfect pairings this season.”

Native will continue tradition by offering fans big wins with over 100 prizes, including the Kickstand Cocktails Grand Prize – two tickets to the Big Game, airfare and hotel, and a VIP Meet and Greet with Kickstand Cocktails founding partners, including Darren Rovell, J.J. Watt and more. Darren Rovell, Founder of Kickstand Cocktails and legendary sports analyst will also host a Kickstand Cocktails Tailgate at Native Grill & Wings Glendale on Sept. 17, which will include free Kickstand Cocktails samples, prizes and, of course, plenty of football.

“We couldn’t be more excited to partner with Kickstand Cocktails, who are big fans of our wings and brand,” said Gregg Nettleton, President and Chief Operating Officer of FAT Brands’ Casual Dining Division. “When we were introduced, we immediately recognized the synergies in our brands – sports fans and spice aficionados. We hope that our customers will join us this fall to dig in and enjoy our new menu – you never know who you may see at a nearby table!”

For more information or to find a Native Grill & Wings near you, visit www.nativegrillandwings.com.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

About Native Grill & Wings

Native Grill & Wings is a family-friendly, polished sports grill with 20 franchised locations throughout Arizona and Texas. Native, as the brand’s legion of fans call it, serves over 20 award-winning wing flavors that guests can order by the individual wing, as well as an extensive menu of pizza, burgers, sandwiches, salads and more. For more information, 
visit www.nativegrillandwings.com. 

About Kick


s


tand Cocktails

Kickstand Cocktails is the only canned cocktail solely dedicated to spice. Made with vodka, fruit juice and natural flavors, Kickstand Cocktails contain: 105 calories, no added sugar, 3g carbs and 5.5% ABV in four clean flavors: Roasted Jalapeno Cucumber (mild), Charred Pineapple Poblano (medium), Smashed Raspberry Serrano (medium) and Torched Peach Chipotle (hot). For more information visit www.kickstandcocktails.com and join the conversation on Twitter @drinkkickstand and Instagram @kickstandcocktails.

MEDIA CONTACTS:

Ali Lloyd, FAT Brands
[email protected]
435-760-6168

Elisa Baker, Kickstand Cocktails
[email protected]
386-503-7269

Aardvark to acquire global development and commercialization rights to ADAIR and all intellectual property outside of Europe
and licensor rights for the
EU

Aardvark to leverage ADAIR formulation technology for certain follow-on pipeline programs in
development

GRI to receive modest upfront payment and
potential to earn
development and commercial mil
e
stones up to
approximately
$
80
million

LA JOLLA, CA, Aug. 23, 2023 (GLOBE NEWSWIRE) —
GRI Bio, Inc. (NASDAQ: GRI) (“GRI Bio” or the “Company”), a biotechnology company advancing an innovative pipeline of Natural Killer T (“NKT”) cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced that the Company has entered into an asset purchase agreement pursuant to which Aardvark Therapeutics, Inc. (“Aardvark”) will acquire certain assets and intellectual property of the Company that pertain to ADAIR (Abuse Deterrent Amphetamine Immediate Release). Aardvark intends to utilize the ADAIR formation technology for the development of certain follow-on pipeline programs.

ADAIR, a legacy asset from the merger with Vallon Pharmaceuticals, Inc. (“Vallon”), is a proprietary abuse-deterrent formulation of immediate release dextroamphetamine for the treatment of attention deficit hyperactivity disorder (“ADHD”) designed to deter attempts to crush and snort it or take it by other non-oral routes that can produce a greater “high.”

Under the terms of the agreement, Aardvark will assume responsibility for and endeavor to develop and commercialize the purchased assets. Exclusive license rights to develop and commercialize ADAIR in Europe and the UK were previously licensed to Medice Arzneimittel Pütter GmbH, a leader in the European ADHD market. GRI Bio will receive a modest up-front payment and the potential to earn milestone payments for achievements in development and commercialization from Aardvark up to approximately $80 million.

“This agreement represents a great opportunity for GRI Bio as it allows us to optimize our non-strategic asset that we acquired through our merger with Vallon, while allowing us to maintain our focus on advancing our pipeline of novel assets in development for inflammatory and fibrotic diseases. We believe in the potential of ADAIR and are pleased to have it continue on in its development at Aardvark,” commented Marc Hertz, PhD, Chief Executive Officer of GRI Bio.

“There continues to be an unmet need for effective products that address the significant and growing problem of stimulant misuse and abuse. ADAIR has demonstrated abuse deterrent properties, but did not surmount the established threshold in its most recent clinical trial to support pursuing an FDA approval. However, we believe there is a real opportunity to utilize Aardvark’s proprietary ARD-101 technology with its established clinical safety profile to provide a new formulation to substantially boost the deterrent effect of ADAIR to ultimately gain regulatory approval,” added Tien Lee, M.D., Chief Executive Officer of Aardvark.

As the current lead programs utilizing ARD-101 as an orally administered therapeutic agent for Prader-Willi Syndrome will be continuing at Aardvark unabated, Aardvark is considering establishing a separate entity to continue development of ADAIR with ARD-101 to address the urgent need for effective products that will deter stimulant abuse.

About Aardvark Therapeutics, Inc.

Aardvark Therapeutics is a clinical stage biopharmaceutical company focused on developing novel small molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases, inflammation, and other indications. Founded in 2017, the company has now advanced ARD-101 to Phase II clinical trials. Aardvark has multiple other programs in its pipeline.

For more information visit www.aardvarktherapeutics.com.

About GRI Bio, Inc.

GRI Bio is a clinical-stage biopharmaceutical company focused on fundamentally changing the way inflammatory, fibrotic and autoimmune diseases are treated. GRI Bio’s therapies are designed to target the activity of NKT cells, which are key regulators earlier in the inflammatory cascade, to interrupt disease progression and restore the immune system to homeostasis. NKT cells are innate-like T cells that share properties of both NK and T cells and are a functional link between the innate and adaptive immune responses. Type I invariant NKT (“iNKT”) cells play a critical role in propagating the injury, inflammatory response, and fibrosis observed in inflammatory and fibrotic indications. GRI Bio’s lead program, GRI-0621, is an inhibitor of iNKT cell activity and is being developed as a novel oral therapeutic for the treatment of idiopathic pulmonary fibrosis, a serious disease with significant unmet need. The Company is also developing a pipeline of novel type 2 NKT agonists for the treatment of systemic lupus erythematosus. Additionally, with a library of over 500 proprietary compounds, GRI Bio has the ability to fuel a growing pipeline.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions. These forward-looking statements are based on the Company’s current beliefs and expectations. Forward-looking statements include, but are not limited to, statements regarding: the Company’s expectations with respect to development and commercialization of the Company’s or Aardvark’s product candidates, the initiation or completion of clinical trials, the potential benefits and impact of the Company’s or Aardvark’s product candidates, any estimate or implication as to potential market size or potential revenue, and any reference to potential milestone achievements or related contingent payments, which may or may not be achieved, paid or received in the future. Actual results may differ from the forward-looking statements expressed by the Company or Aardvark in this press release and consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including, without limitation: (1) the inability to maintain the listing of the Company’s common stock on Nasdaq; (2) changes in applicable laws or regulations; (3) the inability of the Company to raise financing in the future; (4) the success, cost and timing of the Company’s or Aardvark’s product development activities; (5) the inability of the Company or Aardvark to obtain and maintain regulatory clearance or approval for their respective products, and any related restrictions and limitations of any cleared or approved product; (6) the inability of the Company to identify, in-license or acquire additional technology; (7) the inability of the Company or Aardvark to compete with other companies currently marketing or engaged in the development of products and services that the Company or Aardvark are currently developing; (8) the size and growth potential of the markets for the Company’s or Aardvark’s products and services, and their respective ability to serve those markets, either alone or in partnership with others; (9) the failure to achieve any milestones or receive any milestone payments under the asset purchase agreement; (10) inaccuracy in the Company’s or Aardvark’s estimates regarding expenses, future revenue, capital requirements and needs for and the ability to obtain additional financing; (11) the Company’s or Aardvark’s ability to protect and enforce its intellectual property portfolio, including any newly issued patents; and (12) other risks and uncertainties indicated from time to time in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including the risks and uncertainties described in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K filed with the SEC on February 24, 2023 and subsequently filed reports. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor
Contact:

JTC Team, LLC
Jenene Thomas
(833) 475-8247
[email protected]