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• Significant Gross Merchandize Value and Revenue Increases, Driven by Outperformance in Retail and Ramp in Subscriptions Business, Lead to Operating Income Profitability for the Quarter.
  
• More than 200% Increase in Subscription Partner Count in 2020 Drives Nearly 886% Increase in Fourth Quarter Segment Gross Merchandise Value Compared to Q4 2019, bringing Total Platform Gross Merchandise Value to $246MM for 2020.

SPOKANE, Wash., April 15, 2021 (GLOBE NEWSWIRE) —  Kaspien Holdings Inc. (NASDAQ: KSPN) (“Kaspien” or the “Company”), a leading ecommerce marketplace growth platform, today reported select financial results for the fiscal fourth quarter and full year 2020 ended January 30, 2021.

Recent Operational Highlights

• Obtained approval to sell on Target.com through invite-only Target+ Program. As a Target+ partner, Kaspien is one of the only third-party sellers currently approved to sell on Target.com.
• Achieved milestone of $1 billion in lifetime net revenue through the Company’s combined e-commerce marketplaces since 2009.
• Appointed experienced strategic leader and Air Force veteran Scott Allen as Chief of Staff. Allen will focus on streamlining strategic initiatives, overseeing program management, and communicating objectives between departments as the Company continues its growth at scale in 2021 and beyond.
• Appointed highly experienced Chief Technology Officer, Lisa Meisenbacher, to the Kaspien executive leadership team. Lisa joined Kaspien with over 20 years of experience in technology leadership roles at Fortune 500 companies.
• Raised approximately $13.5 million, prior to deducting underwriting discounts and commissions and estimated offering expenses, in an underwritten offering of 416,600 shares of common stock of the Company at a price to the public of $32.50 per share. The Company intends to use the proceeds from the offering for general corporate purposes, including working capital to implement its strategic plans focused on brand acquisition, investments in technology to enhance its scalable platform and its core retail business.
• Partnered with Levin Consulting to provide omni-channel solutions for consumer technology brands, including a full spectrum of services for both traditional retail and ecommerce.

Management Commentary
“The past year has been a transformative period for our business and the ecommerce industry as a whole,” said Kaspien CEO Kunal Chopra. “As the pandemic kept many of us at home, spending moved increasingly online, accelerating years’ worth of adoption into several months and setting the course for expanded overall industry growth. For Kaspien, the foundation we laid over the past year has us effectively positioned to continue benefitting from serving this trillion-dollar market. For both the quarter and year, we improved in every meaningful financial metric and KPI and have been able to do so more efficiently, as evidenced by our consistently decreasing SG&A as a percentage of net revenue. In addition to producing healthy double-digit topline increases in our retail business for these respective periods, we drove major growth in our subscriptions segment, which now contributes over 50% of total GMV, further supporting our diversified approach to scale. Through combined retail and subscription execution, we expect to reliably add to our partner count over time while also taking advantage of increased online transactions wherever and however they’re happening.”

“We are committed to helping businesses of all sizes grow online, which means offering the software, technology and know-how to guide our partners through the increasingly complex landscape of digital marketplaces. To date, our approach has led us to expand from one of the original third-party retailers to a comprehensive platform of software and tech-enables services. Going forward, we plan to support more marketplaces, expand to new geographies and layer new business models on top of our existing platform. We also intend to acquire brands both within and outside our portfolio and have the data and technology to drive outsized results for those businesses. Altogether, as we enter the new year, Kaspien is in a strong position, both operationally and financially, and we have the team, resources and strategy to take full advantage of the long-term ecommerce evolution,” added Mr. Chopra.

Key Performance Indicators (“KPIs”)

Unless otherwise specified, KPI data has been recorded as of fiscal year end (January 30, 2021).

• Annual platform gross merchandise value for fiscal year 2020 was $246 million. Fourth quarter 2020 gross merchandise value (“GMV”) increased 86% to $73.9 million, compared to $39.7 million in the comparable year-ago period. Subscription GMV increased 886% to $26.9 million (36.3% of total GMV), compared to $2.7 million (6.9% of total GMV) in the same year-ago period.
• Total active partner count at year end was approximately 825, including nearly 693 retail partners and 132 subscription (Agency and SaaS) partners. The Company’s subscriptions partner base as of January 30, 2021 increased 207% compared to fiscal 2019.
• Fourth Quarter GMV per active partner increased 87% to $90,000 from $48,000 in fiscal 2020 as compared fiscal 2019. The Company expects this metric to steadily grow over time as partners derive more value from the Kaspien platform, leading to greater partner sales and increased engagement across more product lines.
• Subscription lifetime value to customer acquisition cost (“LTV:CAC”) ratio as of January 30, 2021 was 3.2x with an average payback period of 8.1 months. As subscription partners continue to mature and adopt more features of the Kaspien platform, Company expects these metrics to improve over time.
• During the fiscal fourth quarter, subscription monthly recurring revenue (“MRR”) increased 17% to $153,000 from $131,000 at the end of the fiscal third quarter and increased 181% compared to $55,000 at the end of fiscal 2019.
• Retail segment gross revenue per partner for the fiscal fourth quarter increased 45% to $68,000 from $47,000 in the comparable year-ago period. During Fiscal 2020, revenue per partner increased 40% to $237,000 from $169,000 in fiscal 2019.

Fiscal Fourth Quarter 2020 Financial Results

Results compare 2020 fiscal fourth quarter end (January 30, 2021) to 2019 fiscal fourth quarter end (February 1, 2020).

• Net revenue increased 29% to $45.5 million from $35.2 million in the comparable year-ago period. The increase in net revenue was primarily attributable to strength on the Amazon U.S. marketplace.
• Gross profit increased 106% to $4.7 million (10.3% of net revenue) from $2.3 million (6.4% of net revenue) in the comparable year-ago period. The increase in gross profit was primarily attributable to an increase in the merchandise margin rate to 47.4% from 45.9% in the comparable year-ago period. The table below summarizes the year-over-year comparison of gross margin:

		Thirteen Weeks Ended
	(amounts in thousands)	January 30, 2021		February 1, 2020
	Merchandise Gross Profit	21,569		16,165
	% of Net Revenue	47.4%		45.9%
	Sales and Distribution Expenses	(16,891)		(13,898)
	Gross Profit	4,678		2,267
	% of Net Revenue	10.3 %		6.4 %

• Selling, General & Administrative (“SG&A”) expenses decreased 29% to $4.1 million (9.1% of net revenue) from $5.8 million (16.6% of net revenue) in the same year-ago period. The decrease in SG&A expenses was primarily attributable to a permanent $1.3 million reduction in corporate SG&A expenses.
• Income from continuing operations was $558,000, compared to a loss from continuing operations of $4.3 million in the same year-ago period. The improvement in operating results was primarily attributable to higher sales, improved gross margins and the reduction in corporate SG&A expenses.
• Net loss was $139,000, or $0.07 per diluted share, compared to a net loss of $19.7 million, or $10.83 per diluted share, in the same year-ago period. Included in the results for the fiscal fourth quarter of 2019 was a loss of $16.5 million from the Company’s discontinued fye business.
• Adjusted EBITDA (a non-GAAP metric reconciled below) was $1.4 million, compared to an adjusted EBITDA loss of $1.5 million in the same year-ago period.
• At year-end, the Company had $1.8 million in cash, compared to $3.0 million as of February 1, 2020. Subsequent to year-end, the Company raised approximately $13.5 million in gross proceeds, prior to deducting underwriting discounts, commissions, and estimated offering expenses, in an underwritten offering of 416,600 shares of common stock at a price to the public of $32.50 per share.
• Borrowings under the credit facility as of January 30, 2021 were $6.3 million, compared to $13.1 million as of February 1, 2020. As of January 30, 2021, the Company had $5 million available for borrowing under its credit facility.
• Inventory at year end was $24.5 million, compared to $17.8 million in fiscal 2019.

Full Fiscal Year 2020 Financial Results

Results compare 2020 fiscal year end (January 30, 2021) to 2019 fiscal year end (February 1, 2020).

• Net revenue increased 19% to $158.3 million from $133.2 million in fiscal 2019. The increase in net revenue was primarily attributable to strength on the Amazon U.S. marketplace.
• Gross profit increased 50% to $16.4 million (10.3% of net revenue) from $10.9 million (8.1% of net revenue) in fiscal 2019. The increase in gross profit was primarily attributable to an increase in the merchandise margin rate to 46.4% from 46.1% in the comparable year-ago period. The table below summarizes the year-over-year comparison of gross profit:

		Fiscal Year Ended
	(amounts in thousands)	January 30, 2021		February 1, 2020
	Merchandise Gross Profit	73,448		61,379
	% of Net Revenue	46.4%		46.1%
	Sales and Distribution Expenses	(57,144)		(50,528)
	Gross Profit	16,304		10,851
	% of Net Revenue	10.3 %		8.1 %

• SG&A expenses decreased 12% to $22.0 million (13.9% of net revenue) from $25.1 million (18.8% of net revenue) in fiscal 2019. The decrease in SG&A expenses was primarily attributable to permanent reductions in corporate SG&A expenses.
• Loss from continuing operations was $5.7 million compared to $15.0 million in fiscal 2019. The improvement in operating results was primarily attributable to higher sales and gross margin as well as lower SG&A expenses.
• Net loss was $3.9 million, or $2.10 per diluted share, compared to a net loss of $58.7 million, or $32.35 per diluted share, in fiscal 2019. Included in the results for the fiscal year 2019 was a loss of $44.4 million from the Company’s discontinued fye business.
• Adjusted EBITDA (a non-GAAP metric reconciled below) was $1.9 million compared to a loss of $3.8 million in fiscal 2019.

Kaspien plans to file its annual Form 10-K by April 30, 2021 in accordance with the SEC filing deadlines.

About Kaspien
Kaspien Holdings Inc. (NASDAQ: KSPN) is a leading ecommerce marketplace growth platform, offering an expanding suite of software and services to help brands grow on Amazon, Walmart, Target, eBay, and other online marketplaces. Founded in 2008 in Spokane, Wash., Kaspien has spent the last decade building and utilizing proprietary technologies for brand protection, marketing optimization, and fulfillment efficiency to generate rapid revenue growth for Kaspien partners. Through innovative strategies and best-in-class technologies, Kaspien has earned the trust of many leading brands, including 3M, Strider Bikes, and ZippyPaws. For more information, visit kaspien.com.

Non-GAAP Financial Measures

Adjusted EBITDA is defined as net loss, adjusted to exclude: (i) income tax expense; (ii) loss from fye business, net of tax; (iii) interest expense; (iv) corporate SG&A expenses; (v) depreciation expense; and (vi) asset impairment charges. Our method of calculating adjusted EBITDA may differ from other issuers and accordingly, this measure may not be comparable to measures used by other issuers. We use adjusted EBITDA to evaluate our own operating performance and as an integral part of our planning process. We present adjusted EBITDA as a supplemental measure because we believe such a measure is useful to investors as a reasonable indicator of operating performance. We believe this measure is a financial metric used by many investors to compare companies. This measure is not a recognized measure of financial performance under GAAP in the United States and should not be considered as a substitute for operating earnings (losses), net earnings (loss) from continuing operations or cash flows from operating activities, as determined in accordance with GAAP.

	Thirteen Weeks Ended							Fiscal Year Ended
	January 30,			February 1,				January 30,			February 1,
(amounts in thousands)	2021			2020				2021			2020
Net loss	$	(139	)	$	(19,659	)		$	(3,892	)	$	(58,744	)
Income tax benefit	4			18				(3,542		)	44
Loss from fye business, net of tax	–			16,464				–			44,351
Interest expense (income)	693			(1,155		)		1,709			(647		)
Loss from continuing operations	558			(4,332		)		(5,725		)	(14,996		)
Corporate SG&A expenses	224			1,566				5,511			8,591
Depreciation expense	586			491				2,140			1,799
Asset impairment charge	–			765				–			765
Adjusted EBITDA	$	1,368		$	(1,510	)		$	1,926		$	(3,841	)

 

About Key Performance Indicators


Gross Merchandise Value (“GMV”) is the total value of merchandise sold over a given time period through a customer-to-customer exchange site. For Kaspien, it is the measurement of merchandise value sold across all channels and partners within the Kaspien platform.

Lifetime Value (“LTV”) is the average value of a Kaspien partner over the term of their engagement on the Kaspien platform.

Customer Acquisition Cost (“CAC”) is the all-in cost related to acquiring a new customer (partner) into the Kaspien platform. This refers to the resources and costs incurred to acquire new customers including all wages and benefits associated to business development and marketing efforts driving new business, the portion of inbound marketing expenses related to new business, and all software related expenses for our business development and marketing infrastructure.

Average payback period is a time-based calculation using the average monthly revenue recognition for a Kaspien partner to cover the associated costs to acquire that customer.

Monthly Recurring Revenue (“MRR”) is the measurement of Kaspien’s subscriptions revenue stream on a monthly basis calculated at a given moment in time. Revenues that are recurring in nature provide additional predictability into future financial results.

Forward-Looking Statements


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements in this communication are forward-looking statements. The statements contained herein that are not statements of historical fact may include forward-looking statements that involve a number of risks and uncertainties.

We have used the words “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, and similar terms and phrases, including references to assumptions, in this document to identify forward-looking statements. These forward-looking statements are made based on management’s expectations and beliefs concerning future events and are subject to uncertainties and factors that could cause actual results to differ materially from the results expressed in the statements. The following factors are among those that may cause actual results to differ materially from the Company’s forward-looking statements:  risk of disruption of current plans and operations of Kaspien and the potential difficulties in customer, supplier and employee retention; the outcome of any legal proceedings that may be instituted against the Company; the Company’s level of debt and related restrictions and limitations, unexpected costs, charges, expenses, or liabilities; the Company’s ability to operate as a going-concern; deteriorating economic conditions and macroeconomic factors; the impact of the COVID-19 pandemic; and other risks described in the Company’s filings with the SEC, such as its Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K.

The reader should keep in mind that any forward-looking statement made by us in this document, or elsewhere, pertains only as of the date on which we make it. New risks and uncertainties come up from time-to-time and it’s impossible for us to predict these events or how they may affect us. In light of these risks and uncertainties, you should keep in mind that any forward-looking statements made in this document or elsewhere might not occur.

Company Contact

Ed Sapienza
Chief Financial Officer
(509) 202-4261

Investor Relations Contact

Gateway Investor Relations
Matt Glover and Tom Colton
(949) 574-3860
[email protected]

Marketing Contact

Keri Rhodes
Marketing Director
[email protected]

-Financial Tables to Follow-

KASPIEN HOLDINGS INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

		Thirteen Weeks Ended								Fiscal Year Ended
		January 30, 2021				February 1, 2020			January 30, 2021							February 1, 2020
Net revenue	$	45,456			$	35,208			$		158,345					$	133,216
Cost of sales		40,868				32,941					142,041						122,365
Gross profit		4,678				2,267					16,304						10,851
Selling, general and administrative expenses		4,120				5,834					22,029						25,082
Asset impairment charge		–				765					–						765
Income (loss) from continuing operations		558				(4,332	)				(5,725			)			(14,996		)
Interest expense (income)		693				(1,155	)				1,709						647
Loss from continuing operations before income tax (benefit) expense		(135	)			(3,177	)				(7,434			)			(15,643		)
Income tax (benefit) expense		4				18					(3,542			)			44
Loss from continuing operations		(139	)			(3,195	)				(3,892			)			(15,687		)
Loss from fye business, net of tax		–				(16,464	)				–						(44,351		)
Net loss	$	(139	)		$	(19,659	)		$		(3,892			)		$	(58,744		)
Basic and diluted loss per share	$	(0.07	)		$	(10.83	)		$		(2.10			)		$	(32.35		)
Weighted average number of shares outstanding – basic and diluted		1,923				1,816					1,849						1,816

KASPIEN HOLDINGS INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share and share amounts)

		January 30, 2021				February 1, 2020
ASSETS
CURRENT ASSETS
Cash and cash equivalents		$	1,809			$	2,977
Restricted cash			950				950
Accounts receivable			2,718				4,139
Merchandise inventory			24,515				17,836
Prepaid expenses and other current assets			564				2,974
Assets held for discontinued operations			–				51,189
Total current assets			30,556				80,065
Restricted cash			3,796				4,925
Fixed assets, net			2,268				2,190
Operating lease right-of-use assets			2,742				3,311
Intangible assets, net			732				1,760
Cash surrender value			3,856				3,353
Other assets			1,342				2,202
TOTAL ASSETS		$	45,292			$	97,806
LIABILITIES
CURRENT LIABILITIES
Accounts payable		$	8,894			$	14,447
Short-term borrowings			6,339				13,149
Accrued expenses and other current liabilities			2,350				3,521
Current portion of operating lease liabilities			596				534
Current portion of PPP loan			1,356				–
Liabilities held for discontinued operations			–				39,410
Total current liabilities			19,535				71,061
Operating lease liabilities			2,258				2,204
PPP loan			662				–
Long-term debt			5,162				–
Other long-term liabilities			16,186				20,026
TOTAL LIABILITIES			43,803				93,291
SHAREHOLDERS’ EQUITY
Preferred stock ($0.01 par value; 5,000,000 shares authorized; none issued)			–				–
Common stock ($0.01 par value; 200,000,000 shares authorized; 3,336,576 shares and 3,225,627 shares issued, respectively)			33				32
Additional paid-in capital			346,495				345,102
Treasury stock at cost (1,410,378 shares and 1,409,316 shares, respectively)			(230,169	)			(230,169	)
Accumulated other comprehensive loss			(2,007	)			(1,479	)
Accumulated deficit			(112,863	)			(108,971	)
TOTAL SHAREHOLDERS’ EQUITY			1,489				4,515
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	45,292			$	97,806

 

DALLAS, April 15, 2021 (GLOBE NEWSWIRE) — The Board of Directors of CSW Industrials, Inc. (Nasdaq: CSWI) today declared a regular quarterly cash dividend of $0.15 per share. This represents an increase of $0.015 per share, or approximately 11%, as compared to the declared dividend in the prior quarter. The dividend is payable on May 14, 2021, to shareholders of record as of the close of business on April 30, 2021.

“Today’s announcement is consistent with our previously announced capital allocation strategy, which includes the return of cash to shareholders through our quarterly dividend,” said Joseph B. Armes, CSW Industrials Chairman, President, and Chief Executive Officer.

Details
Dividend Amount:	$0.15
Record Date:	April 30, 2021
Payable Date:	May 14, 2021

About CSW Industrials

CSWI is a diversified industrial growth company with well-established, scalable platforms and domain expertise across two segments: Industrial Products and Specialty Chemicals. CSWI’s broad portfolio of leading products provides performance optimizing solutions to its customers. CSWI’s products include mechanical products for heating, ventilation, air conditioning and refrigeration (“HVAC/R”) applications, sealants, and high-performance specialty lubricants. Markets that CSWI serves include: HVAC/R, architecturally-specified building products, general industrial, plumbing, rail, energy, and mining. For more information, please visit www.cswindustrials.com.

Safe Harbor Statement

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

Investor Relations

Adrianne D. Griffin
Vice President, Investor Relations, & Treasurer
214-489-7113
[email protected]

NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) — NetworkNewsAudio – PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) announces the availability of a broadcast titled, “Plant-Based Foods Here to Stay.”

To hear the AudioPressRelease, please visit: The NetworkNewsAudio News Podcast

To view the full editorial, please visit: https://nnw.fm/WgymW

Little wonder that plant-based food producers have attracted investment from venture capital firms and major meat supply companies. Investment in the U.S. plant-based meat, egg and dairy companies in just the first quarter of 2020 was a staggering $741 million, nearly much as all of 2019. Big money recognized the market opportunity and is quickly moving to capitalize on the global shift in the way meat is produced. Big money is seldom wrong and is hot on the trail of the next big money maker.

With a seismic shift afoot, PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is in a unique position, right at the intersection of some of the highest-growth sectors in the market. In addition to plant-based products, PlantX is an accomplished e-commerce/tech company, efficiently connecting consumers to everything plant-based. The company is snatching market share, leveraging the exponential market growth of the plant-based, e-commerce and home-delivery industries. PlantX operates much like Amazon, except with a focused plant-based selection of offerings; this also includes carving a niche in the plant-based pet foods space.

About PlantX Life Inc.

As the digital face of the plant-based community, PlantX’s platform is the one-stop shop for everything plant-based. With its fast-growing category verticals, the company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the company currently has plans underway to expand its product lines to include cosmetics, clothing and its own water brand — but the business is not limited to an e-commerce platform. The company uses its digital platform to build a community of like-minded consumers and, most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands. The company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life.

For more information, visit the company’s website at www.Investor.PlantX.com.

NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF.

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NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) — AB International Group Corp. (OTCQB: ABQQ), an intellectual property (IP) and movie investment and licensing firm, announces its unaudited financial results for the three months ended February 28, 2021. The financial results have been filed in a 10-Q with the U.S. Securities and Exchange Commission (the “SEC”).

Key Financial Highlights:

Revenues for the three months ended February 28, 2021, increased 460% to $774,509, as compared to $138,338 for the three months ended February 29, 2020. The increase in revenue for the three months ended February 28, 2021 over the three months ended February 29, 2020 is attributable to the movie box-office revenue of $697,709 from the movie “Love Over the World ( Ai Bian Quan Qiu)”.

Gross Profit for the three months ended February 28, 2021 increased 399% to $475,668, as compared with gross profit of $95,359 for the same period ended February 29, 2020. The increase in gross profit margin is due to the movie box-office revenue from the movie “Love Over the World”.

As of February 28, 2021, ABQQ had total shareholders’ equity is $5,189,995, as compared of August 31, 2020 had total shareholders’ equity were $3,956,097.

We launched the video streaming service at the end of 2020 and the service now feature Chinese movies, television shows and drama series with unique content and exclusive to the company. As of February 28, 2021, the Company acquired 45 movie broadcast rights. We will continue marketing and promoting the ABQQ.tv website through GoogleAds and acquire additional broadcast rights for movies and TV series. The Company plans to charge subscription fees to generate revenue once ABQQ.tv has at least 200 broadcast rights for movies and TV series. At that time, it will have a channel on YouTube and apply broadcast on Netflix as well.

Starting in January 2021, the Company started generating movie box-office revenue from the movie “Ai Bian Quan Qiu”, that continuing screening on cinemas in China now. We had 3 more completed Chinese films currently proceeding on procedure of screening license to be screened on cinemas in China.

About AB International Group Corp. 
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged to acquisition and distribution of movies. The Company has a Patent License to a video synthesis and release system for mobile communications equipment, in which the technology is the subject of a utility model patent in the People’s Republic of China. The Company engages highly anticipated video streaming service targeting global multi-billion dollar and growing video streaming industry. The online service will be marketed and distributed in the world under the brand name ABQQ.tv. ABQQ.tv is expected to generate a new and profitable revenue stream immediately following its launch derived from its hybrid subscription and advertising business model.

For additional information visit www.abqqs.com and www.ABQQ.tv

Forward-Looking Statements 
This press release contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes to the Company’s management team and statements relating to the Company’s transformation, financial and operational performance including the acceleration of revenue and margins, and the Company’s overall strategy.  Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements.  These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in AB International Groups markets as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes no obligation to update any statements in this press release for changes that happen after the date of this release.

Investor Relations Contact:
Jeff Deng
(212) 918-4519
[email protected]

NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Emaginos Inc., a company dedicated to improving K-12 public schools, today announces it has selected the corporate communications expertise of the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities.

Emaginos Inc. is working to improve the K-12 public education system of the United States through a commitment to integrated, proven best practices. Opposed to replacing public schools with charter schools, Emaginos believes in restoring neighborhood schools and having them serve as focal points of their communities. To achieve this transformation, Emaginos provides the schools with a wealth of first-to-market resources ranging from technology infrastructure to curriculum training. The schools transformed by the model operate with economic efficiencies squarely in mind, resulting in a better educational experience for the same or lower overall cost.

Emaginos Inc.’s Reg A+ offering is currently open to interested investors. Learn more by visiting https://emaginos.com/why-invest.

As part of the Client Partner relationship with Emaginos, IBN will leverage its investor based distribution network of 5,000+ key syndication outlets, various newsletters, social media channels, wire services via InvestorWire, blogs and other outreach tools to generate greater awareness for Emaginos.

“We are pleased to engage IBN to complement our educational expertise and maximize our communication with existing and potential shareholders while refining our overall messaging and outreach,” states Allan Jones, President of Emaginos.

With 15+ years of experience assisting 500+ client partners improve communications within the investment community, and a sizable family of 50+ trusted brands, IBN has amassed a collective audience that includes millions of social media followers. IBN is uniquely positioned to provide Emaginos the solutions needed to reach a wide audience of investors, consumers, journalists and the general public.

“Emaginos is focused on changing the way that public school transformation is approached. While many in the industry are in favor of the transition to charters or homeschooling, Emaginos believes in reinventing the public-school model to provide huge benefits to students from all backgrounds,” states Chris Johnson, Director of Client Solutions for IBN. “We’re excited to customize our comprehensive suite of corporate communications solutions for Emaginos as it works to transform its innovative concept into the gold standard for public schools across the country.”

To learn more about Emaginos, visit the company’s corporate newsroom profile at www.ibn.fm/Emaginos

About Emaginos

Emaginos is a company dedicated to transforming K-12 public schools to a model composed of integrated proven best practices. The company opposes replacing public schools with charter schools or damaging public schools by draining resources through vouchers or school choice programs. Emaginos firmly believes in restoring the concept of the neighborhood schools as the center of the community. To achieve this vision, Emaginos begins by transforming an initial school in the district to a charter school as a model for the transformation. The charter model in this instance uses the concept as it was intended, to test and demonstrate the effectiveness and efficacy of a new model in the district. After the model is successful in the charter school, the lessons learned in transforming the initial school are used to directly transform the rest of the schools into effective public schools. For more information, visit the company’s website at www.Emaginos.com.

About InvestorBrandNetwork

The InvestorBrandNetwork (“IBN”) consists of financial brands introduced to the investment public over the course of 15+ years. With IBN, we have amassed a collective audience of millions of social media followers. These distinctive investor brands aim to fulfill the unique needs of a growing base of Client Partners. IBN will continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.

Through NetworkNewsWire (“NNW”) and its affiliate brands, IBN provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) full-scale distribution to a growing social media audience; (5) a full array of corporate communications solutions; and (6) a total news coverage solution.

For more information on IBN visit https://www.InvestorBrandNetwork.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://IBN.fm/Disclaimer

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.

Corporate Communications

InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
[email protected]

HAMPSTEAD, Md., April 15, 2021 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent of Farmers and Merchants Bank (the “Bank”), announced that net income for the three months ended March 31, 2021 was $2,029,575, or $0.67 per common share, both all-time quarterly records, compared to $843,307, or $0.28 per common share, for the same period in 2020. The primary driver of the significant increase in net income was the acquisition of Carroll Bancorp, Inc. and its subsidiary, Carroll Community Bank (collectively, “Carroll”), that was completed in the fourth quarter of 2020. Also, income from Paycheck Protection Program (“PPP”) loans added approximately $369,000 to net income.

The Company incurred significant one-time costs during 2020 in connection with the Company’s acquisition of Carroll. The table below provides a comparison of the Company’s results for the first quarter of 2021 versus the same period of the prior year with and without $179,824 of acquisition costs incurred during the first quarter of 2020.

	Three Months Ended
	March 31, 2021			March 31, 2020
							Excluding
	As Reported			As Reported			Acquisition Costs
Income before taxes	$	2,615,276		$	996,223		$	1,176,047
Income taxes		585,701			152,916			202,399
Net income	$	2,029,575		$	843,307		$	973,648
Earnings per share	$	0.67		$	0.28		$	0.33
Return on average assets		1.19	%		0.75	%		0.87	%
Return on average equity		15.37	%		6.72	%		7.76	%

Net interest income for the three months ended March 31, 2021 was $1,807,921 higher than for the same period in 2020 due to a $225.4 million increase in average interest earning assets to $655.4 million for the three months ended March 31, 2021 as compared to $430.0 million for the same period in 2020, offset by a decline in the taxable equivalent net yield on interest earning assets to 3.43% for the three months ended March 31, 2021 from 3.54% for the three months ended March 31, 2020. The net yield declined because the yield on loans and investments decreased 50 basis points to 3.92% for the three months ended March 31, 2021 from 4.42% for the same period in 2020 as a result of the Federal Reserve rate cuts in March 2020. Our cost of deposits and borrowings decreased 50 basis points to 0.63% for the three months ended March 31, 2021 from 1.13% for the three months ended March 31, 2020. The provision for loan losses totaled $120,000 for the three months ended March 31, 2021, compared to $125,000 for the same period in 2020.

Noninterest income increased by $254,943 for the three months ended March 31, 2021 when compared to the same period in 2020 primarily as a result of a $194,010 increase in mortgage banking income, a $28,107 increase in bank owned life insurance revenue, and a $37,613 gain on sale of Carroll’s Westminster, Maryland branch office. Noninterest expense was $448,811 higher in the three months ended March 31, 2021 when compared to the same period in 2020 due primarily to additional personnel, locations and customers added with the acquisition of Carroll. Salaries and benefits increased $297,203, other expenses increased $228,138 and occupancy, furniture and equipment costs increased $103,294. The aforementioned acquisition costs decreased $179,824. Income taxes increased by $432,785 during the three months ended March 31, 2021 when compared to the same period in 2020 due to higher income before taxes.

Total assets increased to $696 million at March 31, 2021 from $677 million at December 31, 2020. Loans decreased slightly to $519 million at March 31, 2021 from $522 million at December 31, 2020. Investment in debt securities increased to $97 million at March 31, 2021 from $78 million at December 31, 2020. Deposits increased to $603 million at March 31, 2021 from $573 million at December 31, 2020. The book value of the Company’s common stock was $17.64 per share at March 31, 2021, compared to $17.18 per share at December 31, 2020.

The COVID-19 pandemic appears to be winding down with immunizations occurring at a rapid pace. The Company has provided relief to our borrowers, as needed, including temporary deferral of payments. At the start of the pandemic in 2020, the Company modified loans totalling $109.2 million, or 30% of its loan portfolio. At March 31, 2021, $15.9 million, or 3% of the loan portfolio, have COVID-19 modifications. In addition, the Company has originated $59 million of PPP loans to customers, $38 million in 2020 and $21 million in 2021. The Company increased its loan loss reserve significantly in 2020 due to the pandemic, but has yet to incur any actual losses.

James R. Bosley, Jr., President and CEO, commented, “We are pleased that the Carroll acquisition is contributing significantly to net income, as planned, and along with income from PPP loans resulted in the best quarter in our 100+ year history. We will continue to provide for the health and safety of our employees and customers until the pandemic is safely over.”

About the Company

The Company is a financial holding company and the parent of the Bank. The Bank was chartered in Maryland in 1919 and has over 100 years of service to the community. The Bank serves the deposit and financing needs of both consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140, and Route 26 corridors. The main office is located in Upperco, Maryland, with seven additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster, and Eldersburg. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTC Markets Group’s Pink Market under the symbol “FMFG”.

Forward-Looking Statements

The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “will,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Farmers and Merchants Bancshares, Inc. with the Securities and Exchange Commission entitled “Risk Factors”.

FOR FURTHER INFORMATION CONTACT:
Contact:	Mr. James R. Bosley, Jr.
	President
	(410) 374-1510, ext.104

Farmers and Merchants Bancshares, Inc. and Subsidiaries

Consolidated Balance Sheets

	March 31,			December 31,
	2021			2020
	(Unaudited)
Assets
Cash and due from banks	$	41,378,357		$	39,898,557
Federal funds sold and other interest-bearing deposits		535,535			1,077,113
Cash and cash equivalents		41,913,892			40,975,670
Certificates of deposit in other banks		350,000			850,000
Securities available for sale		74,849,166			54,477,286
Securities held to maturity		21,945,447			23,078,519
Equity security at fair value		545,713			552,566
Restricted stock, at cost		675,400			900,500
Mortgage loans held for sale		1,682,700			1,673,350
Loans, less allowance for loan losses of $3,423,088 and $3,296,538		519,239,304			521,690,514
Premises and equipment		6,343,681			7,736,556
Accrued interest receivable		1,883,128			2,057,491
Deferred income taxes		1,464,784			1,219,668
Other real estate owned		1,411,605			1,411,605
Bank owned life insurance		15,067,461			11,297,342
Goodwill and other intangibles		7,057,326			7,059,408
Other assets		1,952,747			2,336,607
	$	696,382,354		$	677,317,082
Liabilities and Stockholders’ Equity
Deposits
Noninterest-bearing	$	121,925,868		$	103,155,113
Interest-bearing		481,315,407			470,246,434
Total deposits		603,241,275			573,401,547
Securities sold under repurchase agreements		12,648,269			24,753,972
Federal Home Loan Bank of Atlanta advances		5,000,000			5,000,000
Long-term debt		16,974,687			16,973,280
Accrued interest payable		357,961			409,622
Other liabilities		5,046,750			5,049,178
		643,268,942			625,587,599
Stockholders’ equity
Common stock, par value $.01 per share,
authorized 5,000,000 shares; issued and outstanding
3,011,255 shares in 2021 and 2020		30,113			30,113
Additional paid-in capital		28,294,139			28,294,139
Retained earnings		24,728,529			22,698,954
Accumulated other comprehensive income		60,631			706,277
		53,113,412			51,729,483
	$	696,382,354		$	677,317,082

Farmers and Merchants Bancshares, Inc. and Subsidiaries

Consolidated Statements of Income
(Unaudited)

	Three Months Ended March 31,
	2021				2020
Interest income
Loans, including fees	$	5,984,657			$	4,322,654
Investment securities – taxable		211,224				210,506
Investment securities – tax exempt		160,574				144,084
Federal funds sold and other interest earning assets		14,137				32,792
Total interest income		6,370,592				4,710,036
Interest expense
Deposits		595,520				906,199
Securities sold under repurchase agreements		13,511				38,194
Federal Home Loan Bank advances and other borrowings		188,106				109
Total interest expense		797,137				944,502
Net interest income		5,573,455				3,765,534
Provision for loan losses		120,000				125,000
Net interest income after provision for loan losses		5,453,455				3,640,534
Noninterest income
Service charges on deposit accounts		159,191				158,555
Mortgage banking income		256,267				62,257
Bank owned life insurance income		70,119				42,012
Unrealized gain (loss) on equity security		(100	)			8,510
Gain on sale of former branch office		37,613				–
Other fees and commissions		33,855				30,668
Total noninterest income		556,945				302,002
Noninterest expense
Salaries		1,626,338				1,354,919
Employee benefits		472,888				447,104
Occupancy		250,212				183,152
Furniture and equipment		196,683				160,449
Acquisition		–				179,824
Other		849,003				620,865
Total noninterest expense		3,395,124				2,946,313
Income before income taxes		2,615,276				996,223
Income taxes		585,701				152,916
Net income	$	2,029,575			$	843,307
Earnings per share – basic and diluted	$	0.67			$	0.28

 

EDGEWOOD, N.Y., April 15, 2021 (GLOBE NEWSWIRE) — CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced that the United States Government exercised an option to extend the term of a Firm Fixed Price/Indefinite Delivery Indefinite Quantity (FFP/IDIQ) prime contract the Company has with the Defense Logistics Agency for one year ending April 2022. The Government estimates the value of the contract extension to be valued at up to a maximum $1.7 million. Over the past six years, CPI Aero has received more than $14 million in orders under this contract for structural wing components used by the U.S. Government for global F-16 aircraft maintenance, repair and overhaul operations.

About CPI Aero

CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance and Electronic Warfare pod systems, primarily for national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index.

The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero’s SEC reports, including CPI Aero’s Form 10-K for the year ended December 31, 2019 and Forms 10-Q for the three-month period ended March 31, 2020, June 30, 2020, and September 30, 2020.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.

Contact:

Investor Relations Counsel
LHA Investor Relations
Jody Burfening
(212) 838-3777
[email protected]
www.lhai.com

MONTREAL, April 15, 2021 (GLOBE NEWSWIRE) — Stingray (TSX: RAY. A; RAY. B), a leading music, media, and technology company, today announced its commercial services division, Stingray Business, concluded a deal with METRO to promote local products in its establishments for free. Starting today, several banners, including Metro, Super C, Adonis, Jean Coutu and Brunet, will broadcast four times every hour 20-second free advertising spots developed with Aliments du Québec and Le Panier Bleu to put Québec goods in the spotlight. The initiative aims to help consumers identify Québec products and encourage buying local to stimulate the economy during the pandemic.

“The pandemic has created awareness and interest to consume local products,” said Ratha Khuong, General Manager of Stingray Business. “We are thrilled to launch this unique collaboration with METRO and believe that the turnkey solution will generate immediate additional revenue for the company.” 

“METRO goes to great lengths in all of our stores to showcase local products to its customers and support local businesses,” said Alain Tadros, Vice President of Marketing, METRO. “It is therefore with great pleasure that we welcomed Stingray’s initiative, which contributes to our commitment to promote Québec products via our in-store radio networks.”

The solution, which is set to impact the local economy substantially, will run for the next three months.

About Stingray

Montreal-based Stingray (TSX: RAY.A; RAY.B) is a leading global music, media, and technology company with over 1,200 employees worldwide. Stingray is a premium provider of curated direct-to-consumer and B2B services, including audio television channels, over 100 radio stations, SVOD content, 4K UHD television channels, FAST channels, karaoke products, digital signage, in-store music, and music apps, which have been downloaded over 160 million times. Stingray reaches 400 million subscribers (or users) in 160 countries. For more information: www.stingray.com.

For more information, please contact:

Mathieu Péloquin
Senior Vice-President, Marketing and Communications
Stingray
[email protected]
1 514 664-1244, ext 2362

PURCHASE, N.Y., April 15, 2021 (GLOBE NEWSWIRE) — Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced that its provider of flight attendant services, Flight Services International (FSI), has reached a five-year agreement with the Transport Workers Union of America (TWU) Local 591, which represents flight attendants who support Atlas Air’s passenger services. This is the first labor contract with FSI flight attendants since they organized with TWU.

FSI provides Atlas Air with over 400 flight attendants to serve its thousands of passenger flights a year. Customers include U.S. military service men and women, sports teams, entertainers and other VIP passengers. Atlas Air has worked with FSI since 2012.

“We are pleased to recognize the great contributions of our flight attendant workforce with this updated wage and benefits package,” said Joni Ffrench, President of Flight Services International.

“FSI flight attendants are true partners with us and provide excellent service to our customers on passenger flights,” said John W. Dietrich, Atlas Air Worldwide President and Chief Executive Officer. “We applaud FSI for their efforts in reaching this desired outcome for their flight attendants.”

About Atlas Air Worldwide:

Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services. It is the parent company of Atlas Air, Inc., Southern Air Holdings, Inc. and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate the world’s largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.

Atlas Air Worldwide’s press releases, SEC filings and other information may be accessed through the company’s home page, www.atlasairworldwide.com.

Contacts: 
Investors – [email protected] 
Media – [email protected] 

BURBANK, Calif., April 15, 2021 (GLOBE NEWSWIRE) — via NewMediaWire – Medolife Rx, Inc. (“Medolife”), a global integrated bioceutical company with R&D, manufacturing, and consumer product distribution, which is a majority owned subsidiary of Quanta, Inc. (OTC PINK: QNTA), announced today that Quanta’s President and Director Philip Sands will be presenting virtually at a cannabis investing conference, the 2021 Sequire Cannabis Conference, on Tuesday, April 20, at 3 p.m. EST/12 p.m. PST.

Sands will discuss how Medolife Rx and Quanta will continue to develop their positions in the bioceutical space. He will further discuss their cutting-edge technology, pharmaceutical research, and the development of consumer wellness products for the CBD industry. Additionally, he will address how the Company is planning to develop pharmaceutical-grade CBD products lines for which it will seek clinical regulatory approvals, focusing on indications such as pain.

“Given his deep history with the Company and expertise on the cannabinoid-based product industry, I am excited to see Mr. Sands present on Medolife and Quanta at this conference,” said Medolife CEO Dr. Arthur Mikaelian. “Medolife and Quanta have had an exciting year, and we plan to use this opportunity to share how we believe we are well-positioned for growth and success in the future. “From capitalizing on our proprietary polarization delivery technology to facility expansions and ongoing sales of our numerous consumer wellness products, there are many opportunities on the horizon for our company and potential investors.”

The Sequire Cannabis Conference is a one-day event that brings together a select group of U.S. investors and leading industry participants in the cannabis space. The event will feature video presentations from more than 15 companies, organized in five tracks for attendees.

For those who cannot attend the live presentation, a video webcast of the presentation will be available. To learn more about the 2021 Squire Cannabis Conference and register to participate, visit https://cannabis-conference.mysequire.com/.

About Medolife Rx

Medolife Rx, Inc. is a global biotechnology company with operations in clinical research, manufacturing, and consumer products. Medolife Rx was created through the merger of Medolife, a private company founded by Dr. Arthur Mikaelian who pioneered the unlaying polarization technology that makes the Company’s portfolio of pharmaceutical and nutraceutical products so effective, and Quanta, Inc., a direct-to-consumer wellness product portfolio company. The Company’s lead clinical development programs include Escozine®, a proprietary formulation consisting of small molecule peptides derived from Rhopalurus princeps scorpions, which is amplified by the Company’s polarization technology and is being researched as a treatment of various indications, including COVID-19 and cancer. The Company has completed preclinical safety and efficacy research on Escozine® and is pursuing product registration and drug approval in various countries, including the United States and throughout Latin America. 

Through its subsidiary QuantRx, Medolife manufactures and distributes consumer wellness products in high-impact consumer areas such as pain relief, beauty, and general wellness. QuantRx products are designed using Dr. Mikaelian’s polarization technology, which applies advances in quantum biology to increase the potency of active ingredients. Ultimately, Quanta’s mission is to deliver better, more effective ingredients to elevate product efficacy, reduce waste, and facilitate healthier, more sustainable consumption.

Beyond its own clinical and consumer applications, the polarization technology used by Medolife and its subsidiaries has many potential applications. From potentiating bio-ingredients, to producing more-effective carbon-trapping plants, to transformative anti-aging solutions, Medolife has the opportunity to upend how commercial and pharmaceutical products are made and increase their benefits, while decreasing their chemical concentration.

Forward-Looking Statements

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company’s expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management’s goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “will,” “should,” “could,” and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company’s future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. These factors and additional information are discussed in the Company’s filings with the Securities and Exchange Commission and statements in this release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Contacts:

Phil Sands
https://ir.quantrx.com/
818-659-8052

Kyle Porter
[email protected]
858-264-6600