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China HGS Reports Full Year Financial Results for the Fiscal Year 2020

PR Newswire

HANZHONG, China, Jan. 13, 2021 /PRNewswire/ — January 13, China HGS Real Estate Inc. (NASDAQ: HGSH) (“China HGS” or the “Company”), a leading regional real estate developer headquartered in Hanzhong City, Shaanxi Province, China, today filed its Annual Report on Form 10-K for the fiscal year 2020 ended September 30, 2020 with the U.S. Securities and Exchange Commission. An electronic copy of the Annual Report on Form 10-K can be accessed on the SEC’s website at www.sec.gov.


Highlights for the Fiscal 2020

  • Total revenues for the fiscal 2020 were approximately $13.0 million, a decrease of approximately 67.5% from approximately $40.0 million in fiscal 2019.
  • Net income for the fiscal 2020 totaled approximately $1.0 million, a decrease of approximately 73.5% from the net income of approximately $3.7 million in fiscal 2019.
  • Basic and diluted net earnings per share attributable to shareholders for the fiscal 2020 were $0.04, compared to $0.16 for the fiscal 2019.

Safe Harbor Statement
This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All “forward-looking statements” relating to the business of China HGS Real Estate Inc., which can be identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. These factors include but are not limited to: the uncertain market for the Company’s business, macroeconomic, technological, regulatory, or other factors affecting the profitability of real estate business; and other risks related to the Company’s business and risks related to operating in China. Please refer to the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2020, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. The Company’s actual results could differ materially from those contained in the forward-looking statements. The Company undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

About China HGS Real Estate, Inc.
China HGS Real Estate, Inc. (NASDAQ: HGSH), founded in 1995 and headquartered in Hanzhong City, Shaanxi Province, is a leading real estate developer in the region and holds the national grade I real estate qualification. The Company focuses on the development of high-rise, sub-high-rise residential buildings and multi-building apartment complexes in China’s Tier 3 and Tier 4 cities and counties with rapidly growing populations driven by increased urbanization. The Company provides affordable housing with popular and modern designs to meet the needs of multiple buyer groups. The Company’s development activity spans a range of services, including land acquisition, project planning, design management, construction management, sales and marketing, and property management. For further information about China HGS, please go to www.chinahgs.com. 

Company contact:

Randy Xiong, President of Capital Market
China Phone: (86) 091-62622612
Email: [email protected]


CHINA HGS REAL ESTATE INC.

CONSOLIDATED BALANCE SHEETS


September 30,


September 30,


2020


2019


ASSETS

Cash

$

457,699

$

263,139

Restricted cash

3,409,837

3,938,978

Contract assets

14,255,328

12,668,925

Real estate property development completed

94,671,258

101,933,030

Other assets

8,132,555

2,031,937

Property, plant and equipment, net

571,330

614,008

Security deposits

1,855,506

7,972,117

Real estate property under development

227,741,017

215,745,225

Due from local government for real estate property development completed

2,869,623

2,725,854


Total Assets

$

353,964,153

$

347,893,213


LIABILITIES AND STOCKHOLDERS’ EQUITY

Construction loans

$

109,937,408

$

106,797,436

Accounts payables

25,415,352

27,368,510

Other payables

4,028,048

5,289,176

Construction deposits

3,202,730

3,042,273

Contract liabilities

1,847,685

1,907,828

Customer deposits

19,405,528

17,183,264

Shareholder loans

–

2,129,114

Accrued expenses

1,920,370

3,585,644

Taxes  payable

19,881,211

21,889,818


Total liabilities

185,638,332

189,193,063


Commitments and Contingencies

Stockholders’ equity


Common stock, $0.001 par value, 50,000,000 shares authorized, 22,525,000* shares issued and outstanding September 30, 2020 and 2019

22,525

22,525

Additional paid-in capital*

129,930,330

129,930,330

Statutory surplus

10,458,395

10,360,251

Retained earnings

34,954,061

34,070,767

Accumulated other comprehensive loss

(7,039,490)

(15,683,723)


Total stockholders’ equity

168,325,821

158,700,150


Total Liabilities and Stockholders’ Equity

$

353,964,153

$

347,893,213

 


CHINA HGS REAL ESTATE INC.

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)

FOR THE YEARS ENDED SEPTEMBER 30, 2020 and 2019


2020


2019


Real estate sales

$

12,979,227

$

39,964,556

Less: Sales tax

193,719

389,406


Impairment losses on real estate property development completed


2,703,031

–

Cost of real estate sales

9,369,820

30,253,511


Gross profit


712,657

9,321,639

Operating expenses

Selling and distribution expenses

580,639

494,646

General and administrative expenses

2,324,057

2,661,578


Total operating expenses

2,904,696

3,156,224


Operating income


(2,192,039)

6,165,415


Interest expense, net

(65,535)

(131,270)


Other income (expense), net


4,080,945

(309,930


Income before income taxes

1,823,371

5,724,215

Provision for income taxes

841,933

2,022,043


Net income

981,438

3,702,172

Other comprehensive loss

Foreign currency translation adjustment

8,644,233

(6,679,858)


Comprehensive income (loss)

$

9,625,671

$

(2,977,686)


Basic and diluted income per common share

Basic and diluted

$

0.04

$

0.16


Weighted average common shares outstanding

Basic and diluted*

22,525,000

22,525,000

 


CHINA HGS REAL ESTATE INC.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

FOR THE YEARS ENDED SEPTEMBER 30, 2020 AND 2019


Common Stock


Additional


Statutory


Retained


Accumulated
Other
Comprehensive


Shares*


Amount


Paid-in Capital


Surplus


Earnings


Loss


Total

Balance at September 30, 2018

22,525,000

$

22,525

$

129,930,330

$

9,925,794

$

30,803,052

$

(9,003,865)

$

161,677,836

Appropriation of statutory reserve

434,457

(434,457)

–

Net income for the year

3,702,172

3,702,172

Foreign currency translation adjustments

(6,679,858)

(6,679,858)

Balance at September 30, 2019

22,525,000

$

22,525

$

129,930,330

$

10,360,251

$

34,070,767

$

(15,683,723)

$

158,700,150

Appropriation of statutory reserve

–

–

–

Net income for the year

981,438

981,438

Appropriation of statutory reserve

98,144

(98,144)

–

Foreign currency translation adjustments

8,644,233

8,644,233

Balance at September 30, 2020

22,525,000

$

22,525

$

129,930,330

$

10,458,395

$

34,954,061

$

(7,039,490)

$

168,325,821

 


CHINA HGS REAL ESTATE INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS
F
OR THE YEARS ENDED SEPTEMBER 30, 2020 and 2019


2020


2019


Cash flows from operating activities

Net income

$

981,438

$

3,702,172

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Deferred tax provision

–

1,302,606

Depreciation

72,748

79,270


Impairment losses on real estate property development completed


2,703,031

–

Gain on settlement of shareholder loan and payables with suppliers


(4,998,762)

–

Changes in assets and liabilities:

Advances to vendors

–

20,395

Security deposits

6,335,525

–

Contract assets

(889,901)

(601,265)

Real estate property development completed

9,369,820

(45,818,735)

Real estate property under development

(7,511,989)

50,974,817

Other assets

(398,747)

(725,508)

Accounts payables

(1,498,176)

7,967,500

Other payables

23,918

609,156

Contract liabilities

(155,809)

(3,854,568)

Customer deposits

1,275,401

(4,261,166)

Construction deposits

–

8,538

Accrued expenses

(474,420)

700,527

Taxes payables

(2,616,813)

(1,166,158)


Net cash provided by operating activities

2,217,264

8,937,581


Cash flow from financing activities

Proceeds from construction loans

–

488,307

Repayment of construction loans

(2,415,924)

(11,825,666)

Repayment of shareholder loans

–

–


Net cash (used in) financing activities

(2,415,924)

(11,337,359)


Effect of changes of foreign exchange rate on cash

(135,921)

(173,682)


Net (decrease) in cash

(334,581)

(2,573,460)


Cash, restricted cash, beginning of year

4,202,117

6,775,577


Cash, restricted cash, end of year

$

3,867,536

$

4,202,117


Supplemental disclosures of cash flow information:

Interest paid

$

6,847,515

$

7,199,086

Income taxes paid

$

782,836

$

347,675

Representing

Cash

$

457,699

$

263,139

Restricted cash

$

3,409,837

$

3,938,978

$

3,867,536

$

4,202,117


Non-cash financing activities:

Settlement of shareholder loan and related accrued interest

$

(3,402,313)

–

Settlement of payables with suppliers

(3,415,572)

–

 

Cision View original content:http://www.prnewswire.com/news-releases/china-hgs-reports-full-year-financial-results-for-the-fiscal-year-2020-301207904.html

SOURCE China HGS Real Estate Inc.

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Riot Blockchain Announces New Advisory Board Member

CEO of Blockware Solutions Joins Riot as Member of its Industry-Leading Advisory Board

Castle Rock, CO, Jan. 13, 2021 (GLOBE NEWSWIRE) — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot”, “Riot Blockchain” or the “Company”), announced that Mason Jappa, CEO of Blockware Solutions LLC (“Blockware”) is joining Riot’s Advisory Board. Mason joins Pierre Rochard, Yan Pritzker, and Cory Klippsten, the founding members of the Riot Advisory Board in 2019.

Mr. Jappa brings to Riot’s Advisory Board a vast amount of experience in cryptocurrency mining. He is the co-founder of Blockware, which was created in 2017 and delivers Blockchain and bitcoin mining related services to its clients which includes some of the world’s most innovative mining farms and blockchain companies. Blockware has placed over 45MW for hosted clients, sold over 200,000 ASIC’s, operates validator nodes for Skale, Dfinity, Ethereum, and has created one of the largest U.S.-based bitcoin mining pools – Blockwarepool. Additionally, he is a managing partner of Blockware Mining, LLC, a colocation facility and a self-mining operation with over 300 Ph/s based in Kentucky, offering turnkey buy and host solutions to prospective clients.

Mr. Jappa commented, “I am very excited to be joining Riot Blockchain’s Advisory Board, I firmly believe there are many synergies that exist between my background and expertise, Riot, and its current Advisory Board. My focus as a Riot Advisory Board member will be assisting the Company in its evaluation of growth opportunities, by sharing my expertise in optimizing operations, enhancing marketing strategies, and pushing forward our shared goal of decentralizing Bitcoin mining hashrate by increasing the American footprint in the space.”

Riot Advisory Board

In 2019, Riot established its Advisory Board comprised of well-recognized creative leaders with a wealth of operational and strategic experience from across the blockchain space including: bitcoin software development, node projects, bitcoin education, start-up advisory, and venture capital/angel investing. The Advisory Board was established to assist the Company in evaluating and defining its strategic mission and enhance shareholder value through the advisors’ industry-leading insights and vast network of innovators and pacesetters. Profiles of the Advisory Board’s existing members include:

Pierre Rochard

Pierre is the lead bitcoin strategist at Kraken, one of the world’s largest bitcoin exchanges. Pierre has been involved with bitcoin as a researcher, investor, and software developer since February 2013. He co-founded the Satoshi Nakamoto Institute to curate the best primary source literature on bitcoin and cryptography. In addition to developing bitcoin software, Pierre is an outspoken advocate for bitcoin’s decentralized governance. In 2017 he began co-hosting the Noded Bitcoin Podcast. His successful open-source software projects include BitcoinACKs.com and the Node Launcher. In 2019 he founded Lightning Power Users, which operates one of the largest Lightning Network routing nodes.

Yan Pritzker

Yan is the co-founder and CTO of Swan Bitcoin, a bitcoin on-ramp for recurring purchases of bitcoin, and the author of Inventing Bitcoin, a book on the inner workings of bitcoin. Formerly, he was co-founding CTO of Reverb.com, a music instrument marketplace that he helped grow to half a billion dollars in annual sales volume. Yan also invests into bitcoin startups through Bitcoiner Ventures and advises Bitcoin companies.

Cory Klippsten

Cory is the founder of Swan Bitcoin.  He also serves as an advisor to Unchained Capital and is a partner in Bitcoiner Ventures.  As an advisor, he has supported more than $250M of fundraising since 2016, and as an angel has funded 20+ early stage startups. Before focusing primarily on startups, Klippsten worked for Google, McKinsey, Microsoft and Morgan Stanley, and earned an MBA in Finance and Entrepreneurship from the University of Chicago.   

“We are very fortunate to have such a breadth of expertise within our Advisory Board to help refine our strategic positioning as we continue to focus on bitcoin mining,” said Jeff McGonegal, CEO of Riot. “We are focused on continuing our expansion and optimistic for the future of bitcoin and correspondingly for Riot.”

Additional information on the Advisory Board can be found on Riot’s web site on the Advisory Board page.

About Riot Blockchain

Riot Blockchain (NASDAQ: RIOT) focuses on cryptocurrency mining of bitcoin. The Company is expanding and upgrading its mining operations by securing the most energy efficient miners currently available. Riot also holds certain non-controlling investments in blockchain technology companies. Riot is headquartered in Castle Rock, Colorado, and the Company’s primary mining facility operates out of upstate New York, under a co-location hosting agreement with Coinmint. For more information, visit www.RiotBlockchain.com.

Safe Harbor

The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company’s periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled “Risk Factors,” copies of which may be obtained from the SEC’s website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release.



PR Contact
Riot Blockchain, Inc.
[email protected]

Investor Contact
Riot Blockchain, Inc.
[email protected]

Posted on

SIGA Announces Public Health Agency of Canada Contract Award to Purchase Up To Approximately $33 Million of Oral TPOXX®

Second Contract by a Canadian Governmental Agency for the Procurement of Oral TPOXX

NEW YORK, Jan. 13, 2021 (GLOBE NEWSWIRE) — SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company focused on the health security market, today announced that the Public Health Agency of Canada (PHAC) has awarded a contract to Meridian Medical Technologies, Inc. (“Meridian”, a Pfizer Company) (the “Contract”) for the purchase up to approximately $33 million of oral TPOXX® (tecovirimat) within five years. The Contract specifies firm commitments for the purchase of approximately $3.4 million of oral TPOXX by March 31, 2021 and a cumulative purchase of approximately $17.2 million of oral TPOXX by March 31, 2023; the remaining courses under the Contract are scheduled to be purchased after March 31, 2023 and are subject to option exercise by PHAC. The Contract award follows, but is separate and incremental to, the issuance in April, 2020 of a contract by the Canadian Department of National Defence (CDND) for the delivery of up to approximately $14 million of oral TPOXX.

“We are pleased to work with the Public Health Agency of Canada to supply oral TPOXX, which highlights the importance of smallpox preparedness for not only the military, but also for civilian populations. Both the United States and Canada have underscored the critical role of preparedness for a smallpox outbreak with contracts for the procurement of TPOXX,” said Dr. Phil Gomez, CEO of SIGA Technologies. “We are continuing to work collaboratively with our partner, Meridian as well as the Department of Defence and the Canadian Public Health Agency to support procurement needs for TPOXX to protect Canada’s military and civilian populations, as well as additional jurisdictions around the world.”

As with all international sales of TPOXX, Meridian is the counterparty to the contract and SIGA will be responsible for the manufacture and delivery of product.

SIGA anticipates Canadian regulatory approval in late 2021 or early 2022.

In May 2019, SIGA entered into an international promotion agreement with Meridian. Under the agreement, Meridian will promote the sale of oral TPOXX for the treatment of smallpox in all international markets, except the United States. SIGA will continue to own all rights to the product and its related intellectual property.

ABOUT SIGA TECHNOLOGIES, INC. and TPOXX

®

SIGA Technologies, Inc. is a commercial-stage pharmaceutical company focused on the health security market. Health security comprises countermeasures for biological, chemical, radiological and nuclear attacks (biodefense market), vaccines and therapies for emerging infectious diseases, and health preparedness. Our lead product is TPOXX®, also known as tecovirimat and ST-246®, an orally administered and IV formulation antiviral drug for the treatment of human smallpox disease caused by variola virus. TPOXX is a novel small-molecule drug and the US maintains a stockpile of 1.7 million oral courses in the Strategic National Stockpile under Project BioShield. The oral formulation of TPOXX was approved by the FDA for the treatment of smallpox on July 13, 2018. In September 2018, SIGA signed a contract with Biomedical Advanced Research and Development Authority (BARDA) for additional procurement and development related to both oral and intravenous formulations of TPOXX. For more information about SIGA, please visit www.siga.com.

ABOUT MERIDIAN MEDICAL TECHNOLOGIES, INC.

Meridian Medical Technologies, Inc., a Pfizer company, has been putting emergency care treatment options into the hands of military and civilian defenders for more than 50 years. Meridian is committed to help defend against critical, time-sensitive, life-or-death situations by providing medical countermeasures to the United States Department of Defense, Emergency Medical Services, Homeland Security, and more than 30 nations around the world.

Meridian holds a federal SAFETY Act designation and certification from the Department of Homeland Security for its portfolio of auto-injectors. The SAFETY Act is intended to provide critical incentives for the development and deployment of anti-terrorism technologies by providing liability protections for sellers of qualified anti-terrorism technologies.

About Smallpox

1

Smallpox is a contagious, disfiguring and often deadly disease that has affected humans for thousands of years. Naturally occurring smallpox was eradicated worldwide by 1980, the result of an unprecedented global immunization campaign. Samples of smallpox virus have been kept for research purposes. This has led to concerns that smallpox could someday be used as a biological warfare agent. A vaccine can prevent smallpox, but the risk of the current vaccine’s side effects is too high to justify routine vaccination for people at low risk of exposure to the smallpox virus.

FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are subject to various known and unknown risks and uncertainties, and SIGA cautions you that any forward-looking information provided by or on behalf of SIGA is not a guarantee of future performance. More detailed information about SIGA and risk factors that may affect the realization of forward-looking statements, including the forward-looking statements in this press release, is set forth in SIGA’s filings with the Securities and Exchange Commission, including SIGA’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and in other documents that SIGA has filed with the SEC. SIGA urges investors and security holders to read those documents free of charge at the SEC’s web site at http://www.sec.gov. Interested parties may also obtain those documents free of charge from SIGA. Forward-looking statements are current only as of the date on which such statements were made, and except for our ongoing obligations under the United States of America federal securities laws, we undertake no obligation to update publicly any forward-looking statements whether as a result of new information, future events, or otherwise.

The information contained in this press release does not necessarily reflect the position or the policy of the Government and no official endorsement should be inferred.

Contacts:

Investors

David Carey
212-867-1768
[email protected]

Media

Stephanie Seiler
206-713-0124
[email protected]

1 http://www.mayoclinic.org/diseases-conditions/smallpox/basics/definition/con-20022769



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Scorpio Tankers Inc. Announces Purchase of Call Options by President of the Company

MONACO, Jan. 13, 2021 (GLOBE NEWSWIRE) — Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced that the President of the Company, Robert Bugbee, has purchased call options on an aggregate of 300,000 common shares (or 3,000 call option contracts) of the Company for total consideration of $750,000.  The option contracts have a strike price of $12.00 and an expiration of July 2021.

About Scorpio Tankers Inc.

Scorpio Tankers is a provider of marine transportation of petroleum products worldwide. The Company’s fleet consists of 135 owned, finance leased or bareboat chartered-in product tankers (42 LR2 tankers, 12 LR1 tankers, 63 MR tankers and 18 Handymax tankers) with an average age of 5.2 years. Additional information about the Company is available at the Company’s website www.scorpiotankers.com, which is not a part of this press release.

Forward-Looking Statements

Matters discussed in this press release may constitute forward‐looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward‐looking statements in order to encourage companies to provide prospective information about their business. Forward‐looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “target,” “project,” “likely,” “may,” “will,” “would,” “could” and similar expressions identify forward‐looking statements.

The forward‐looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company’s control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. The Company undertakes no obligation, and specifically declines any obligation, except as required by law, to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.

In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward‐looking statements include unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effect on demand for petroleum products and the transportation thereof, expansion and growth of the Company’s operations, risks relating to the integration of assets or operations of entities that it has or may in the future acquire and the possibility that the anticipated synergies and other benefits of such acquisitions may not be realized within expected timeframes or at all, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off‐hires, and other factors. Please see the Company’s filings with the SEC for a more complete discussion of certain of these and other risks and uncertainties.

Contact Information

Scorpio Tankers Inc.
(212) 542-1616 



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Western Alliance Bancorporation Announces Fourth Quarter and Full Year 2020 Earnings Release Date, Conference Call and Webcast

Western Alliance Bancorporation Announces Fourth Quarter and Full Year 2020 Earnings Release Date, Conference Call and Webcast

PHOENIX–(BUSINESS WIRE)–
Western Alliance Bancorporation (NYSE: WAL) announced today that it plans to release its fourth quarter and full year 2020 financial results after the market closes on Thursday, January 21, 2021. Ken Vecchione, President and CEO, and Dale Gibbons, Vice Chairman and CFO, will host a conference call at 12:00 p.m. ET on Friday, January 22, 2021 to discuss the Company’s performance.

Participants may access the call by dialing 1-833-236-2753 using the conference ID 9490267or via live audio webcast using the website link: https://event.on24.com/wcc/r/2928095/355DC0E5938CE1195BD005E82EA3D638.

The webcast is also available through the Company’s website at www.westernalliancebancorporation.com. Participants should log in at least 15 minutes early to receive instructions. The call will be recorded and made available for replay January 22nd after 3:00 p.m. ET until February 22nd at 11:00 p.m. ET by dialing 1-800-585-8367 using the conference ID 9490267.

About Western Alliance Bancorporation

With more than $30 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies. The company has ranked in the top 10 on the Forbes “Best Banks in America” list for five consecutive years, 2016-2020, and was named #1 best-performing of the 50 largest public U.S. banks for 2019 by S&P Global Market Intelligence. Its primary subsidiary, Western Alliance Bank, Member FDIC, helps business clients realize their ambitions with local teams of experienced bankers who deliver superior service and a full spectrum of customized loan, deposit and treasury management capabilities. Business clients also benefit from a powerful array of specialized financial services that provide strong expertise and tailored solutions for a wide variety of industries and sectors. A national presence with a regional footprint, Western Alliance Bank operates individually branded, full-service banking divisions and has offices in key markets nationwide. For more information, visit westernalliancebank.com.

Investors:

Dale Gibbons, 602-952-5476

Media:

Robyn Young, 602-346-7352

KEYWORDS: Arizona United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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John Hancock Closed-End Funds Release Earnings Data

PR Newswire

BOSTON, Mass., Jan. 13, 2021 /PRNewswire/ – The two John Hancock Closed-End Funds listed in the table below announced earnings1 for the three months ended December 31, 2020. The same data for the comparable three month period ended December 31, 2019 is also available below.


Three Months Ended 12/31/20


Ticker


Fund Name


Current Fiscal Year End


Net Investment Income


Per Common Share


NAV


Total Managed Assets


Total Net Assets

HEQ

Hedged Equity & Income Fund

12/31

$1,003,802

$0.082

$12.76

$155,989,972

$155,989,972

BTO

Financial Opportunities Fund

 12/31

$3,189,267

$0.170

$28.48

$659,122,769

*

$534,122,769


Three Months Ended 12/31/19


Ticker


Fund Name


Current Fiscal Year End


Net Investment Income


Per Common Share


NAV


Total Managed Assets


Total Net Assets

HEQ

Hedged Equity & Income Fund

12/31

$1,322,105

$0.108

$14.85

$181,393,459

$181,393,459

BTO

Financial Opportunities Fund

 12/31

$2,596,452

$0.139

$36.38

$805,054,846

*

$680,054,846

1 Earnings refer to net investment income, which is comprised of the Fund’s interest and dividend income, less expenses. Earnings presented represent past earnings and there is no guarantee of future results.

Amounts distributed by the Funds may vary from the earnings shown above and will be announced in separate press releases. Up-to-date distribution rate information is available on John Hancock Investment Management’s web site at www.jhinvestments.com by clicking on “Closed-End Funds” under the “Daily Prices” tab.

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.

An investor should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing.

About John Hancock Financial and Manulife Financial

John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people achieve their dreams and aspirations by putting customers’ needs first and providing the right advice and solutions. We operate primarily as John Hancock in the United States and as Manulife elsewhere. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions. Assets under management and administration by Manulife and its subsidiaries were over CAD$1.3 trillion (US$943 billion) as of September 30, 2020. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.

One of the largest life insurers in the United States, John Hancock supports approximately 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and education savings plans. Additional information about John Hancock may be found at johnhancock.com.

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SOURCE John Hancock Investment Management

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Chegg Launches HONOR SHIELD: A New Tool to Support the Integrity of Online Exams

Chegg Launches HONOR SHIELD: A New Tool to Support the Integrity of Online Exams

With online and remote testing increasing, Chegg launches HONOR SHIELD, a new tool to limit access to Chegg solutions during designated exam periods

SANTA CLARA, Calif.–(BUSINESS WIRE)–
Chegg Inc. (NYSE: CHGG), the online education platform which provides study tools, textbook rentals, math and writing support, and skills training to millions of students in over 190 countries, today announced a new tool available to faculty in response to the dramatic shift to online home assessments and examinations due to the Covid-19 pandemic.

Honor Shield allows professors to confidentially, and without charge, pre-submit exam or test questions, preventing them from being answered on the Chegg platform during a time-specified exam period. After a successful trial, Chegg is now offering the service to faculty across the United States, and eventually globally.

“The overwhelming majority of students use our platform to get the support they need to learn and master their subjects. The sudden impact of the Covid-19 pandemic forced many schools to go online, almost overnight, creating understandable confusion, stress, and the loss of many on-campus support services. As a result, a small number of students have misused our platform in ways it wasn’t designed for, which we believe is not in the spirit of the majority of hard-working students,” said Nathan Schultz, President of Learning Services at Chegg.

“We are working with faculty, administrators, and students, to do our part in protecting the integrity of the online evaluation process. The extra layer of protection provided by Honor Shield will further support the learning process and serve the continued move to online learning. By working in partnership with educators, institutions, and students, we believe we are building systems to support student learning in the most effective ways,” Schultz added.

At the height of the pandemic in spring 2020, 1388 out of 1442 colleges surveyed (96%) had moved online according to the Davidson College Crisis Initiative dashboard. Of 2958 US colleges surveyed in the fall of 2020, around two thirds (65%) were still delivering at least part of their programs virtually.

“This is a complex problem, and we are determined to play our part in identifying and implementing practical solutions. As education becomes more accessible and available online, we believe that technology companies and education providers must work together and evolve to protect academic integrity,” said Schultz.

Honor Shield adds to a range of measures already in place to prevent abuse of Chegg’s platform. These include constant technology and human monitoring, training of all Chegg experts, prompts for users, banning of abusers from the Chegg platform, strict adherence to DMCA removal protocols, and rigorous enforcement of Chegg’s honor code, including cooperating with official university honor code investigations.

ABOUT CHEGG

Chegg: A Smarter Way to Student®. We strive to improve educational outcomes by putting the student first. We support students on their journey from high school to college and into their careers with tools designed to help them learn their course materials, succeed in their classes, and save money on required materials. Our services are available online, anytime and anywhere. Chegg is a publicly held company based in Santa Clara, California and trades on the NYSE under the symbol CHGG. For more information, visit www.chegg.com.

Learn more about Honor Shield at www.chegg.com/honor-shield

Media Contact: Marc Boxser, [email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Software Mobile/Wireless Networks Online Retail Internet Data Management Training Technology Continuing University Primary/Secondary Education Retail

MEDIA:

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Rayonier Scheduled to Release Fourth Quarter Earnings on February 3

Rayonier Scheduled to Release Fourth Quarter Earnings on February 3

WILDLIGHT, Fla.–(BUSINESS WIRE)–
Rayonier Inc. (NYSE:RYN) plans to release its fourth quarter 2020 earnings after the market closes on Wednesday, February 3, 2021.

Rayonier will host a conference call and live webcast at 10:00 a.m. EST on Thursday, February 4 to discuss these results. Supplemental materials and access to the live webcast will be available at www.rayonier.com. A replay of the webcast will be archived on the Company’s website and available shortly after the call.

Investors may listen to the conference call by dialing 888-604-9366 (domestic) or 517-308-9338 (international), passcode: Rayonier. A replay of the conference call will be available one hour following the call until Wednesday, March 3, 2021 by dialing 800-388-4923 (domestic) or 203-369-3800 (international), passcode: 7025.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of September 30, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S. South (1.75 million acres), U.S. Pacific Northwest (507,000 acres) and New Zealand (416,000 acres). The Company also acts as the managing member in a private equity timber fund business with three funds comprising approximately 141,000 acres. On a “look-through basis”, the Company’s ownership in the timber fund business equates to approximately 17,000 acres. More information is available at www.rayonier.com.

Rayonier Inc.

Investors / Media

Mark McHugh, 904-357-9100

[email protected]

KEYWORDS: Florida United States North America

INDUSTRY KEYWORDS: Forest Products Residential Building & Real Estate Commercial Building & Real Estate Natural Resources Construction & Property REIT

MEDIA:

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KNOT Offshore Partners LP Announces Fourth Quarter 2020 Cash Distribution

KNOT Offshore Partners LP Announces Fourth Quarter 2020 Cash Distribution

ABERDEEN, Scotland–(BUSINESS WIRE)–
KNOT Offshore Partners LP (NYSE:KNOP) (“The Partnership”)

Distribution

The Partnership announced today that its Board of Directors has declared a quarterly cash distribution with respect to the quarter ended December 31, 2020, of $0.52 per unit.

This corresponds to $2.08 per outstanding unit on an annualized basis.

This cash distribution will be paid on February 11, 2021 to all unitholders of record as of the close of business on January 29, 2021.

About KNOT Offshore Partners LP

KNOT Offshore Partners LP owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership. KNOT Offshore Partners LP’s common units’ trade on the New York Stock Exchange under the symbol “KNOP.”

Forward looking statements

This press release includes statements that may constitute forward-looking statements. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. Factors that can affect future results are discussed in the Annual Report on Form 20-F filed by the Partnership with SEC. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

KNOT Offshore Partners LP

Gary Chapman

Chief Executive Officer and Chief Financial Officer

+44 7496 170 620

KEYWORDS: United Kingdom Europe

INDUSTRY KEYWORDS: Maritime Energy Transport Oil/Gas

MEDIA:

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Royal Caribbean Launches New Adventures From Barbados

Grandeur of the Seas Debuts Three Distinct Itineraries to the Sought-after Islands of the Southern Caribbean, beginning December 2021

PR Newswire

MIAMI, Jan. 13, 2021 /PRNewswire/ — Royal Caribbean International will for the first time call Barbados “home” next winter, offering travelers fresh ways to experience the southern Caribbean on Grandeur of the Seas. Three distinct 7- and 14-night itineraries will each feature a unique lineup of bucket-list destinations – including three new ports of call in the islands of Tobago, Trinidad and St. Vincent. Showcasing the natural beauty and cultures of the region, weeklong sailings will island hop to a different destination every day or offer late-night stays in the famed ABC islands – Aruba, Bonaire and Curacao. Grandeur’s longer escapes will tout an overnight stay in Aruba coupled with visits to Cartagena, Colombia; Colon, Panama; and Puerto Limon, Costa Rica, among others.

“We are excited to grow our longstanding partnership with Barbados and introduce Bridgetown as Royal Caribbean’s newest home port. Sailing from the heart of the Windward Islands unlocks new memorable vacations to share with family and friends in breathtaking places, such as Grenada, St. Lucia, and now St. Vincent, Trinidad and Tobago,” said Michael Bayley, president and CEO, Royal Caribbean International. “The pink-sand beaches and unexpected adventures across Barbados also make it an ideal destination for our guests to experience even more of the Caribbean charm and culture before or after their cruise.”    

“After the year the industry and region have had, this is a shining light to look forward to this coming winter season. We have wanted to see for some time more homeporting operations from Barbados, the incorporation of pre- and post-stay vacations which expose cruisers to the best Barbados has to offer and at a regional level, the development of new itineraries that elevates the cruise experience throughout the Caribbean,” said Senator the Hon. Lisa Cummins, Minister of Tourism and International Transport for Barbados. “So, we are extremely pleased to extend the welcome mat for Grandeur of the Seas to Barbados. We are looking forward to displaying our Bajan hospitality, wide range of accommodations, rich culture, diversity of experiences, world class cuisine, unique attractions, and especially want to share the warmth of the Barbadian people. These are the things that keep visitors coming back for more!”

Barbados is known for its rich history and celebrated for its kind and hospitable people – a defining Bajan trait passed on for almost 400 years and still strong today. Adventure-seekers looking to discover the Bajan island vibe will have diverse experiences to choose from across the country’s 11 parishes – a mix of coastal, rural and urban neighborhoods, some sophisticated and luxurious, others immersive and based in nature. Spanning 166 square miles between the Atlantic Ocean and Caribbean Sea, the island affectionately known as “Little England” is chock-full of natural and cultural heritage to satisfy wanderlust of all types.

Royal Caribbean’s new 2021-22 winter cruises from Bridgetown, Barbados open for sale today. The itineraries depart on Sundays and ports of call for each are:

  • 7-night Southern Caribbean Island Hop: Departing Bridgetown, Barbados (new) and visiting Scarborough, Tobago (new); Port of Spain, Trinidad (new); St. George’s, Grenada; Kingstown, St. Vincent (new); Roseau, Dominica; and Castries, St. Lucia
  • 7-night Southern Caribbean Adventure: Departing Bridgetown, Barbados (new) and visiting St. George’s, Grenada; Kralendijk, Bonaire; Oranjestad, Aruba; Willemstad, Curacao; and Port of Spain, Trinidad (new)
  • 14-night Ultimate Caribbean: Departing Bridgetown, Barbados (new) and visiting St. George’s, Grenada; Kingstown, St. Vincent (new); Kralendijk, Bonaire; Oranjestad, Aruba (overnight); Willemstad, Curacao; Port of Spain, Trinidad (new); Cartagena, Colombia; Colon, Panama; and Puerto Limon, Costa Rica

Royal Caribbean’s inaugural season sailing from Barbados adds even more variety to the cruise line’s current 2021-22 winter season. New departure ports and destinations will bring a breadth of fresh experiences for travelers to make the most of their highly anticipated vacations.

About Royal Caribbean International


Royal Caribbean International 
has been delivering innovation at sea for more than 50 years. Each successive class of ships is an architectural marvel featuring the latest technology and guest experiences for today’s adventurous traveler. The cruise line continues to revolutionize vacations with itineraries to more than 270 destinations in 72 countries on six continents, including Royal Caribbean’s private island destination in The Bahamas, Perfect Day at CocoCay, the first in the Perfect Day Island Collection. Royal Caribbean has also been voted “Best Cruise Line Overall” for 18 consecutive years in the Travel Weekly Readers’ Choice Awards.

Media can stay up to date by following @RoyalCaribPR on Twitter and visiting RoyalCaribbeanPressCenter.com. For additional information or to make reservations, vacationers can call their travel advisor; visit RoyalCaribbean.com; or call (800) ROYAL-CARIBBEAN.

Royal Caribbean International is applying the recommendations of its Healthy Sail Panel of public health and scientific experts to provide a safer and healthier cruise vacation on all of its sailings. Health and safety protocols, regional travel restrictions and clearance to visit ports of call, are subject to change based on ongoing evaluation, public health standards, and government requirements. U.S. cruises and guests: For more information on the latest health and travel alerts, U.S. government travel advisories, please visit www.royalcaribbean.com/cruise-ships/itinerary-updates or consult travel advisories, warnings or recommendations relating to cruise travel on applicable government websites.  

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SOURCE Royal Caribbean International