Market Newsdesk

CHALK RIVER, Ontario, April 07, 2021 (GLOBE NEWSWIRE) — Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology organization, is pleased to announce that Ram Mullur has joined the organization as its new Vice-President of Isotope Business. Mr. Mullur is an accomplished executive with more than 25 years of broad industry experience and a thorough understanding of the medical isotopes and radiopharmaceuticals landscape, and will work to grow CNL’s leadership position in the development and supply of medical and industrial isotopes.

With over one billion treatments conducted using isotopes produced at the Chalk River Laboratories campus, CNL has been a world leader in the production of medical isotopes for decades. As part of its Vision 2030 plan, CNL is leveraging this expertise to become an international hub in the research, development and supply of the next-generation of medical isotopes and radiopharmaceuticals, including actinium-225, a rare isotope that shows great promise as the basis for new, cutting-edge cancer therapies.

“Given his leadership and industry experience, we believe Ram will be an exceptional addition to CNL as we pursue the next-generation of medical isotopes and radiopharmaceuticals at our Chalk River Laboratories campus,” commented Joe McBrearty, CNL’s President and CEO. “Ram has a deep understanding of the Canadian and international radiopharmaceutical market, with expertise that spans development to distribution, and his leadership will help us navigate production pathways for actinium-225 and the commercialization of other promising isotopes.”

Among his responsibilities as Vice-President of Isotope Business, Mr. Mullur will lead CNL’s efforts to pursue commercial opportunities related to actinium-225, a rare medical isotope that shows great promise as the basis for new, cutting-edge cancer therapies. An alpha-emitting isotope with a short half-life, actinium-225 can be combined with a protein or antibody that specifically targets and kills cancer cells, leaving the surrounding healthy tissue unharmed. With a short half-life of just ten days, the actinium then decays without accumulating in a patient’s body.

Known as targeted alpha therapy, this form of treatment has shown exciting potential in early studies with prostate cancer patients for whom conventional cancer therapies have not worked. Researchers are eager to try this targeted alpha therapy approach with a wide range of cancers. However, current global supplies of actinium-225 would only be enough to treat a handful of patients every year, leading the isotope to be nicknamed, “the rarest drug on Earth.” CNL’s Chalk River Laboratories campus is one of only a few locations in the world with a thorium generator that can produce this material in research-scale quantities.

“CNL has a strong reputation as a world leader in the production and processing of medical isotopes, and I’m incredibly excited to join the team and help build on this legacy,” commented Mr. Mullur. “In particular, I believe that CNL’s research in targeted alpha therapy and actinium-225 holds great promise in the development of new and innovative medical breakthroughs to fight cancer. It is this ambitious program of work that drew me to the position, and I can’t wait to get started.”

Prior to his arrival at CNL, Ram served as the Director and Head of Business Development at a leading radiopharmaceutical company, where he was responsible for expanding its commercial business into new products and technologies in the nuclear medicine and radiopharmaceutical field. This experience included leading acquisition, investment and licensing initiatives, negotiating business contracts and pursuing strategic partnerships and collaborations. Among his many accomplishments, Ram helped advance key products in the company’s development pipeline to their commercial phase and was instrumental in the growth of its new product portfolio. Ram also shaped, negotiated and helped complete external business partnerships for novel radiopharmaceutical products.

Ram has also served in leadership positions at other health sciences and industrial companies as a global brand manager, production operations manager, and quality and plant operations manager. He completed his MBA at McGill University, holds a M.Sc. in Chemistry and is certified in Canadian Risk Management.

For more information on CNL, including its leadership team, please visit www.cnl.ca.

About CNL

Canadian Nuclear Laboratories is a world leader in nuclear science and technology offering unique capabilities and solutions across a wide range of industries. Actively involved with industry-driven research and development in nuclear, transportation, clean technology, energy, defence, security and life sciences, we provide solutions to keep these sectors competitive internationally.

With ongoing investments in new facilities and a focused mandate, Canadian Nuclear Laboratories is well positioned for the future. A new performance standard reinforced with a strong safety culture underscores every activity.

For more information on the complete range of Canadian Nuclear Laboratories services, please visit www.cnl.ca or contact [email protected].

CNL Contact:

Patrick Quinn
Director, Corporate Communications
CNL, 1-866-886-2325

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/40d61cd0-5531-4995-9463-5733a437ff42

NEW YORK and PARIS, April 07, 2021 (GLOBE NEWSWIRE) — While 90% of software production issues are caused by just 8% of software flaws – flaws in the architecture*, no international standard has defined how to find and prevent them. Until now.

The new ISO/IEC 5055 (ISO 5055) provides a set of engineering rules to assess the internals of software systems for four business-critical factors – Security, Reliability, Maintainability, Performance Efficiency.

Those factors determine how trustworthy, dependable, and resilient a software system will be.

Financial institutions, governments, telecoms, manufacturers, system integrators, and others can leverage ISO 5055 to avoid disruptions, reputational damage, or excessive IT costs. They can also use it to objectively show the structural condition of critical systems to regulators, boards, or stakeholders.

The widely accepted standard culminates 12 years of effort by industry consortia CISQ and OMG, experts from the Software Engineering Institute of Carnegie Melon University, and 2,000+ practitioners from enterprises with large IT teams, IT services providers and software vendors.

The ISO 5055 rules allow for automatic detection of severe structural flaws by software analysis platforms.

The first platform to fully cover ISO 5055 is the CAST ‘MRI for Software’, with its unique ability to reverse engineer architectures and track manipulation and access to data all the way from user entry to the database. It automatically performs full-system analysis of all data structures, code components, and their interdependencies against ISO 5055.

CAST ‘MRI for Software’ – Summary of ISO 5055 rules violations

Aggregate score and scores against each business-critical factor, on scale of 0-4

For more information, see www.castsoftware.com/iso5055

About CAST

CAST is the pioneer and category leader in Software Intelligence. Its technology, the “MRI for Software”, delivers actionable insights into software composition, architectures, database structures, critical flaws, quality grades, cloud readiness levels and work effort metrics. It is used globally by thousands of forward-looking digital leaders to make objective decisions, accelerate modernization, and raise the security and resiliency of mission critical software. Contact Stephanie Watkins at [email protected].

* See Software Quality, Wikipedia

Building 12 new towers to close key gaps along Highway 16,
between Prince Rupert and Prince George, including three provincial highway rest stops

Building seven new towers along Highway 14 from Sooke to Port Renfrew, including Wi-Fi coverage at the Sombrio Rest Area

Rogers continues its commitment in B.C. to bridge the digital divide, create new jobs, and support the local economy

VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) — Today, Rogers announced that it is expanding its wireless network in B.C., including 5G, to provide reliable connectivity along Highway 16 and Highway 14 for the British Columbians, workers and travellers that rely on these critical routes. The ability to make a call from a highway if your car breaks down or to connect to Wi-Fi at a local rest stop, is incredibly important. At Rogers, it is understood that this is not a nice-to-have, it’s a need-to-have, and no more so than along Highway 16, known as the Highway of Tears. Rogers is committed to doing its part to solve for connectivity along this corridor, and acknowledges the number of women, many of whom are Indigenous, that have gone missing or have been found murdered along this stretch of Highway.  

“Rogers is proud to be investing in British Columbia to build critically needed 5G networks to bridge the digital divide, including across rural, remote, and Indigenous communities,” said Dean Prevost, President, Connected Home and Rogers for Business. “With these investments announced today, in collaboration with the B.C. Government and the Government of Canada, Rogers is providing improved safety and reliable connectivity for those who depend on Highways 16 and 14, while creating new jobs and supporting the economy of B.C.”

For Highway 16 – Rogers, alongside their 5G partner Ericsson, will build 12 new cellular towers to close key gaps and provide additional cellular coverage between Prince Rupert and Prince George, providing essential connectivity to those who use this Highway every day. This project will provide 252kms of new highway cellular coverage closing key gaps that remain along this corridor, so that there will be continuous coverage along all 720km of this northern highway through to Prince George. Rogers will also provide coverage to three provincial highway rest stops along Highway 16 located at: Boulder Creek, Basalt Creek and Sanderson Point. Work on this infrastructure expansion begins in the spring of 2021 and is expected to continue through to October 2022.

For Highway 14 – seven new cellular towers will be built by Rogers to provide additional network coverage along the route from Sooke to Port Renfrew. This new highway coverage, as well as a Wi-Fi Hotspot at the Sombrio Rest Area, will provide essential connectivity to those who live, work and visit in this area of Vancouver Island. Construction begins this spring and is estimated to be complete by October 2021.

These expansions are made possible by leveraging financial support from the provincially funded Connecting British Columbia program, administered by Northern Development Initiative Trust. Together, Rogers and the B.C. government, alongside the Government of Canada, are bridging the digital divide to enhance safety, and connectivity in the region. These initiatives are part of Rogers’ ongoing commitment to expand service and improve connectivity for underserved rural, remote and Indigenous communities in the West, and across Canada.

The Rogers team is excited about future plans in Western Canada, and our agreement to combine Rogers Communications with Shaw Communications, which will enable us to invest $6.5 billion to build critically needed 5G networks, connect underserved rural and Indigenous communities, and bring added choice to customers and businesses. When the transaction between Rogers and Shaw is complete, we will be creating up to 3,000 net new jobs in the West, including more than 1000 in British Columbia. And the company will continue to build on that work to bridge the digital divide, and strengthen communities throughout Western Canada, with our proposed $1 billion fund dedicated to connecting rural, remote and Indigenous communities. There is a strong link between mobile broadband adoption and economic development; Ericsson’s research indicates that, on average, a 10 percent increase in mobile broadband penetration, causes a 0.8 percent increase in GDP¹. The ability to scale and make 5G a reality for all Canadians, as well as close the connectivity gap, has never been more important – we recognize the critical importance of our services to Canadians. 5G is also the most energy-aware standard, with advanced features to manage energy consumption and meet the increasing traffic demands², making it the ideal network technology for rural Highways.

Rogers continues to make network and innovation investments throughout British Columbia, including recent network sites in West Kelowna and Osoyoos, and upgraded towers across Okanagan, Cariboo, Central and Northern B.C. and on Vancouver Island. The Company has also recently announced a collaboration with the Métis Nation British Columbia, and a new innovative solution in collaboration with InDro Robotics, a BC drone company. In 2020, Rogers collaborated with the Cowichan Valley school board to put iPads in the hands of B.C. students and families during the COVID-19 pandemic. The Company has also partnered with additional Indigenous communities in B.C., such as Nisg̱a’a Nation, and Witsuwit’en Village (Witset First Nation).

Rogers owns and operates Citytv, OMNI BC, as well as ten radio stations across the province. We employ more than 1700 team members in B.C. across customer solutions, sales, retail, network and technology, media, corporate roles and more. Rogers has also announced that it will bring 350 new jobs into the local economy by 2021 through its B.C. customer solution centre in Kelowna.

Rogers has invested over $30 billion over the past 35 years to build Canada’s most trusted and reliable wireless network³. In 2020, the company was awarded the best wireless network in Canada for the second year in a row by umlaut, the global leader in mobile network testing and benchmarking. Rogers is also ranked number one in the West and Ontario in the J.D. Power 2020 Canada Wireless Network Quality Study. A recent 2020 Ookla Speedtest report found Rogers wireless network delivers the most consistent speeds of any national wireless network in Canada.
  
About Rogers
Rogers is a proud Canadian company dedicated to making more possible for Canadians each and every day. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. We have grown to become a leading technology and media company that strives to provide the very best in wireless, residential, sports, and media to Canadians and Canadian businesses. Our shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). If you want to find out more about us, visit about.rogers.com.

For more information

[email protected]

1-844-226-1338

¹ Mobile broadband enhances economic development https://www.ericsson.com/en/cases/2019/boosting-gdp-through-mobile-broadband
² Network energy performance https://www.ericsson.com/en/about-us/sustainability-and-corporate-responsibility/environment/product-energy-performance
³ Most Reliable based on umlaut performance benchmark audit of Canadian mobile networks, June 2020; Most Trusted based on total wireless subscribers

Las Vegas, NV, April 07, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with bi-coastal processing centers, is pleased to report that, after years of stalled attempts, New York State has legalized the use of recreational marijuana, enacting a strongly formed program that will reinvest millions of dollars of tax revenues from cannabis in minority communities damaged by the decades-long war on drugs.

New York became the 15th state to legalize the recreational use of cannabis, positioning itself to quickly become one of the largest markets of legal cannabis in the nation. This is a huge success in the hemp industry. Hemp Inc. supports the state’s legalization of industrial hemp, which can help grow the hemp marketplace where hemp products can be bought and sold.

Legislation (S.854-A/A.1248-A) would establish the Office of Cannabis Management to implement a detailed regulatory framework that would cover medical, adult-use and cannabinoid hemp. The bill would also expand New York State’s existing medical marijuana and cannabinoid hemp programs. The legislation provides licensing for marijuana producers, distributors, retailers and other actors in the cannabis market, and creates a social and economic equity program to assist individuals disproportionately impacted by cannabis enforcement that want to participate in the industry.

The development of an adult-use cannabis industry in New York State under this legislation has the potential to create significant economic opportunities for New Yorkers and the state, including Hemp Producers nationwide. Tax collection is projected to reach $350 million annually and has the potential to create 30,000 to 60,000 new jobs in the state.

The New York State Cannabis/Marijuana Regulation & Taxation Act contains the provisions to establish the Office of Cannabis Management who would be charged with enforcing a framework governing medical, adult-use cannabinoid hemp. It would be governed by a five-member board, with three members appointed by the governor and one appointment by each house. OCM would be an independent office operating as part of the New York State Liquor Authority.

The Cannabis/Marijuana Regulation & Taxation Act will also contain the provisions in Medical Cannabis, Adult-Use Cannabis, Cannabinoid Hemp, Adult-Use Cannabis Tax Revenue, Municipal Opt-Out, Traffic Safety, Personal Possession and Home Cultivation, Criminal Justice and Record Expungement. This is a huge success for New York and will pave the way for Hemp Inc. to establish a foothold in other markets and territories.

Hemp, Inc. is also focused on marketing and is currently negotiating with a network marketing company to launch several new products for different niche markets. Digital marketing campaigns are in the works including planning for display booths at all the concerts and events at the Veteran Village Kins Communities.  The Company is also selling directly to retail stores as well as distributing through all the King of Hemp Stores opening around America this year.  Online distributors such as NaturalExposureCBD.com are also carrying the products.

The company recently added its second brand (Billy Hayes) in the King of Hemp® product line which already consists of Bubba Kush hemp; CBD Pre-rolls, Fortified CBD Pre-rolls, CBD and CBG Caviar/Moon Rocks; and Diamonds (which are 96%-98.7% CBD, the only product like this in the marketplace today). According to executives, one of its distributors is selling a limited number of signed and numbered Billy Hayes CBG pre-rolls as a collector’s item for $100 each. Those interested in being the first to collect this “pirate treasure” should click here.

There’s also a signed (by Bruce Perlowin) and numbered complete set of King of Hemp® CBD pre-rolls. (To hear the Bruce Perlowin theme song, click here.) The third in the series will be the Notorious Smith Brothers (famous smugglers from South Florida) to be released at a later date. 

The Company’s website for its King of Hemp® line (www.kingofhempusa.com) also has CBD oil tinctures available for purchase. The tinctures are available in two flavors, Natural and Peppermint, and contain full-spectrum hemp oil extracted from the flowers and leaves of hemp plants sustainably sourced from Colorado. They are also compliant with the regulations created by the Colorado Department of Agriculture in regards to industrial hemp. The tinctures, as well as all CBD products, contain 0.3% or less THC and are compliant with the 2018 Farm Bill.

To learn more, go to the King of Hemp® website, here.

Those interested in King of Hemp® pre-rolls; hemp-derived CBD tinctures; Caviar; Diamonds; can visit www.kingofhempusa.com and email [email protected].

WHAT IS HEMP, INC.?

What is Hemp, Inc.? With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small hemp farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. The Company is on a mission to be a powerful engine for social change and economic revival, worldwide, by providing hemp products that are eco-friendly, sustainable and healthy. Hemp, Inc. executives believe there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

FORWARD-LOOKING DISCLAIMER AND DISCLOSURES

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. The Securities and Exchange Commission (SEC) requires issuers to provide “adequate current information” and Hemp, Inc. does… using the SEC’s Alternative Reporting Standard to publicly report its quarterly and yearly financials.  All current information can be found on www.hempinc.com/hemp-financial-disclosures/. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.

Contact:

Hemp, Inc.    

855-436-7688

[email protected]

Ft. Myers, Fla., April 07, 2021 (GLOBE NEWSWIRE) — Physicians, clinicians and administrative leaders of Florida Cancer Specialists & Research Institute (FCS) will be participating in the virtual 2021 Community Oncology Conference hosted by the Community Oncology Alliance (COA) on April 8 & 9, 2021.  Oncologists/hematologists, clinicians, practice administrators, employers, patients and industry professionals nationwide will join to showcase the resilience and resourcefulness of community oncology providers. Innovative solutions and critical lessons learned while continuing to operate during the COVID-19 pandemic will be a key focus of the two-day gathering.

 FCS physicians serving as panelists for the COA 2021 Spring Conference are:

• FCS President & Managing Physician Lucio Gordan, MD – “Learnings from COVID-19: How Cancer Care Has Innovated & Evolved”
• FCS Assistant Managing Physician & Director of Patient Advocacy
  Michael Diaz, MD – “A New Model for Cancer Care: Ensuring & Measuring Quality”  Dr. Diaz is also the immediate Past President of COA.
• FCS Medical Oncologist
  Martin Dietrich, MD, PhD – “Evolving World of Biomarker Testing & Therapeutic Strategies: Realizing the Promise of Personalized Medicine”

FCS CEO Nathan H. Walcker said, “FCS is proud to join the nation’s top oncology care providers to discuss cutting-edge clinical topics and to share our best practices for successfully dealing with the ongoing challenges of oncology business operations and payment reform.” 

 “Sharing knowledge is one of the most effective ways to advance the field of oncology and is critically important as the U.S. cancer care landscape continues to change so rapidly,” said Dr. Gordan. “My colleagues and I look forward to participating in the COA spring conference.”  

The Community Oncology Alliance is dedicated to ensuring that cancer patients have access to quality, affordable and accessible cancer care in their local communities. 

 # # #

 About Florida Cancer Specialists & Research Institute
Recognized by the American Society of Clinical Oncology (ASCO) with a national Clinical Trials Participation Award, Florida Cancer Specialists & Research Institute (FCS) offers patients access to more clinical trials than any private oncology practice in Florida. Over the past 5 years, the majority of new cancer drugs approved for use in the U.S. were studied in clinical trials with Florida Cancer Specialists participation.* Trained in such prestigious medical schools and research institutes as Duke, Stanford, Harvard, Emory, MD Anderson, and Memorial Sloan Kettering, our physicians are consistently ranked nationally as Top Doctors by U.S. News & World Report.

Florida Cancer Specialists has built a national reputation for excellence that is reflected in exceptional and compassionate patient care, driven by innovative clinical research, cutting-edge technologies, and advanced treatments, including targeted therapies, genomic-based treatment, and immunotherapy. Our values are embodied by our outstanding team of highly trained and dedicated physicians, clinicians, and staff.

*Prior to approval

Attachment

• Gordan Diaz Dietrich

SANTA CLARITA, Calif., April 07, 2021 (GLOBE NEWSWIRE) — BioSolar, Inc. (OTC: BSRC), a developer of energy technologies, today announced that it closed its previously announced registered direct offering, for the sale, under a securities purchase agreement with a single institutional investor, of 125,000,000 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 125,000,000 shares of common stock. The combined purchase price for one share of common stock (or common stock equivalent in lieu thereof) and a warrant to purchase one share of common stock was $0.04. The warrants have an exercise price of $0.04 per share, are immediately exercisable and will expire five years from the issuance date.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The gross proceeds from the offering were $5.0 million. The Company intends to use the net proceeds primarily to aggressively expand and accelerate the development of its electrolyzer technology to lower the cost of green hydrogen production, as well as for working capital and general corporate purposes.

A shelf registration statement on Form S-3 (File No. 333-254336) relating to the registered direct offering of the securities described above was filed with the Securities and Exchange Commission (“SEC”) on March 16, 2021 and was declared effective on March 25, 2021. The offering of the securities was made only by means of a prospectus supplement and accompanying prospectus that forms a part of the effective registration statement. Electronic copies of the final prospectus supplement and the accompanying prospectus were filed with the SEC and may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (212) 856-5711 or by emailing [email protected] or at the SEC’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The Company recently announced that is in the process of changing its corporate name to NewHydrogen, Inc. to better reflect its expanded focus on green hydrogen technologies.

About BioSolar, Inc.

BioSolar is a developer of clean energy technologies including green hydrogen, and lithium-ion battery components. The Company’s current focus is on developing a breakthrough electrolyzer technology to lower the cost of Green Hydrogen production. Hydrogen is the cleanest and most abundant fuel in the universe. It is zero-emission and only produces water vapor when used. However, hydrogen does not exist in its pure form on Earth so it must be extracted. For centuries, scientists have known how to use electricity to split water into hydrogen and oxygen using a device called an electrolyzer. Electrolyzers installed behind a solar farm or wind farm can use renewable electricity to split water, thereby producing Green Hydrogen. Unfortunately, electrolyzers are expensive and rely on rare earth materials such as platinum and iridium. These very expensive materials account for nearly 50% of the cost of electrolyzers. The Company’s technology is aimed at significantly reducing or replacing rare earth materials in electrolyzers with inexpensive earth abundant materials to help usher in a Green Hydrogen economy that Goldman Sachs estimates will be worth $12 trillion by 2050. 

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These statements include, without limitation, the intended use of proceeds. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: market and other conditions, the impact of economic, competitive and other factors affecting the Company and its operations, and other factors detailed in reports filed by the Company with the Securities and Exchange Commission.

Contact Information

Investor Relations Contact:
Tom Becker
BioSolar, Inc.
[email protected]
(877) 904-3733

SAN FRANCISCO, April 07, 2021 (GLOBE NEWSWIRE) — Hagens Berman urges Ebang International Holdings (NASDAQ: EBON) investors with significant losses to submit your losses now. The firm is investigating possible securities fraud and certain investors may have valuable claims.

Ebang International Holdings (NASDAQ: EBON) Investigation:

The investigation focuses on the accuracy of Ebang’s statements concerning its use of capital raised from investors and its claim to be a leading manufacturer of bitcoin mining machines.

More specifically, over the past year, Ebang raised approximately $374 million from investors in public offerings and represented it would use these proceeds to “further expand our operations” in cryptocurrency mining, exchange platforms, and general corporate purposes.

These statements were brought into question on Apr. 6, 2021, when analyst Hindenburg Research published a scathing report entitled “Ebang: Yet Another Crypto ‘China Hustle’ Absconding With U.S. Investor Cash.”

According to Hindenburg, the company directed much of the cash out of the company through a series of opaque deals with entities linked to Ebang’s Chairman/CEO and its underwriter.   Specifically, Hindenburg concludes the company directed (1) $103 million into bond purchases linked to its underwriter which has a track record of fraud allegations levied against it, and (2) $21 million to a relative of its Chairman/CEO coincident with raising that amount from investors.

Hindenburg also concludes Ebang is not a leading bitcoin mining machine producer, only sold a pittance compared to other large Chinese producers, and is slated for a 97% decline in such sales for FY 2020.

In response, the price of Ebang shares declined sharply.

“We’re focused on investors’ losses and whether Ebang lied to investors about its true operations and use of capital,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are an Ebang investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Ebang should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman


Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation.   More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 844-916-0895

LITTLE ROCK, Arkansas, April 07, 2021 (GLOBE NEWSWIRE) — CareSource PASSE has officially filed for the license to participate in the state’s Provider-Led Arkansas Shared Savings Entity (PASSE) Program and hopes to become a new option for Arkansans with complex behavioral health, developmental, and intellectual disabilities. The provider-led group includes health care and community leadership from across Arkansas with a shared commitment to transforming the delivery of care. CareSource PASSE will improve the lives of Arkansans by creating innovative community solutions focused on a person-centered approach and engagement through caregivers, providers, and community-based organizations.

Five leading Arkansas health care organizations and CareSource, a multi-state health plan recognized as an innovative leader in managed care, will jointly form this PASSE. Together they will collaborate to support complex populations by improving outcomes related to health, well-being and activities that promote a meaningful day. The founding organizations include:

• James A. Zini D.O., P.A. and the Zini Medical Clinic
• Ashley County Medical Center (ACMC)
• Acadia Healthcare Company, Inc., (Acadia)
• Chenal Family Therapy, PLC
• Rehabilitation Network Outpatient Services (Rehab Net)
• CareSource

This group of Arkansas health care professionals brings a depth of expertise from multiple medical and behavioral health perspectives and a history of experience serving their fellow Arkansans. They are leaders and innovators in their own right and will bring passion for change to the PASSE program. They will turn to CareSource’s vast experience in Medicaid and its legacy of innovation to make health care more accessible and easier to navigate, while helping members holistically.

The CareSource PASSE business model was designed to expand health care delivery beyond traditional health care services and be inclusive of services that positively impact an individual’s well-being to include employment assistance, social determinants of health, and critical life services programs designed to build key skills in support of a successful life within communities throughout Arkansas. In addition to offering a unique model of the PASSE program, CareSource is committed to community reinvestment after spending a year meeting with stakeholders across the state to better understand the needs of individuals and communities.

“We understand that we are supporting individuals who have complex needs,” said Jason Bearden, CareSource Arkansas Market President. “With our person-centered, community-based approach and integrated care model, CareSource has the experience to make health care easier for members and their caregivers, who play such a critical role in supporting an individual’s overall health and well-being. Our goal is to ensure that both formal and informal support are provided enabling individuals to thrive at home, integrate into their communities, connect with their loved ones and have a safe place to live.”

“As a non-profit organization that has served the needs of individuals with developmental delays throughout Arkansas for many years, Rehab Net is excited to be a part of this new approach to ensuring those in our community are well served. CareSource brings together a group of innovative providers that want to provide a unique care model for the patients we serve with a health plan that has a track record of doing so as well,” said Gabe Freyaldenhoven, President of Rehab Net. “We are excited to ensure that individuals not only have the medical care they need, but the social and community supports to thrive on a daily basis.”

Following future licensure approval and contracting with the Arkansas Department of Human Services (DHS), CareSource PASSE plans to participate in the PASSE program starting January 1, 2022. CareSource PASSE’s office will be in Little Rock and employ care coordinators statewide.

About CareSource

CareSource is a multi-state health plan recognized as a national leader in managed care. Founded in 1989, CareSource administers one of the nation’s largest Medicaid managed care plans and offered a lifetime of access to care through health insurance, including Medicaid, Health Insurance Marketplace, Medicare Advantage and dual-eligible programs. Headquartered in Dayton, Ohio, CareSource serves 2 million members in Georgia, Indiana, Kentucky, Ohio and West Virginia. CareSource understands the challenges consumers face navigating the health system and is transforming health care with industry-leading programs that improve the health and well-being of our members.

For more, visit www.caresource.com, follow @caresource on Twitter, or like CareSource on Facebook.

Attachment

• CareSource Jason Bearden