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Medigene to Take Part in Cell Therapy Panel at the LifeSci Partners 10th Annual Healthcare Corporate Access Event

MARTINSRIED, Germany and MUNICH, Germany, Jan. 05, 2021 (GLOBE NEWSWIRE) — Medigene AG (FSE: MDG1, Prime Standard), a clinical stage immuno-oncology company focusing on the development of T cell immunotherapies, announced today that Prof. Dr. Dolores J. Schendel, Chief Executive Officer and Chief Scientific Officer of Medigene, will take part in a panel discussion at the LifeSci Partners 10th Annual Healthcare Corporate Access Event, on Wednesday, 6 January 2021 from 8:00 am EST.

The panel, entitled “Challenges and Opportunities in Cell Therapy”, will explore the potential of next generations of cell therapy to respond to current hurdles and challenges and how these will be positioned in the current treatment paradigm. Investors can pre-register for the panel discussion here.

About Medigene

Medigene AG (FSE: MDG1, Prime Standard, ISIN DE000A1X3W00) is a publicly listed biotechnology company headquartered in Martinsried near Munich, Germany. The company is developing highly innovative immunotherapies to target various forms and stages of cancer. Medigene concentrates on the development of personalized T cell-based therapies, with associated projects currently in pre-clinical and clinical development.

For more information, please visit www.medigene.com

This press release contains forward-looking statements representing the opinion of Medigene as of the date of this release. The actual results achieved by Medigene may differ significantly from the forward-looking statements made herein. Medigene is not bound to update any of these forward-looking statements. Medigene

®

is a registered trademark of Medigene AG. This trademark may be owned or licensed in select locations only.

Medigene

Dr. Gary Waanders, Dr. Anna Niedl
Phone: +49 89 2000 3333 01
e-mail: [email protected]

LifeSci Advisors

Mary-Ann Chang
Phone: +44 7483 284 853
e-mail: [email protected]

In case you no longer wish to receive any information about Medigene, please inform us by e-mail ([email protected]). We will then delete your address from our distribution list.



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Aptinyx to Participate in H.C. Wainwright BioConnect 2021 Conference

Aptinyx to Participate in H.C. Wainwright BioConnect 2021 Conference

EVANSTON, Ill.–(BUSINESS WIRE)–
Aptinyx Inc. (Nasdaq: APTX), a clinical-stage biopharmaceutical company developing transformative therapies for the treatment of brain and nervous system disorders, today announced that company management will participate in the H.C. Wainwright BioConnect 2021 Conference to be held virtually January 11-14, 2021.

The fireside chat will be available on-demand through the H.C. Wainwright conference portal, beginning at 6:00 AM ET on Monday, January 11, 2021.

A webcast will also be available on the “Events and Presentations” page in the “Investors & Media” section of Aptinyx’s website at https://ir.aptinyx.com and will be archived on Aptinyx’s website for 30 days following the event.

About Aptinyx

Aptinyx Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of proprietary synthetic small molecules for the treatment of brain and nervous system disorders. Aptinyx has a platform for discovery of novel compounds that work through a unique mechanism to modulate—rather than block or over-activate—NMDA receptors and enhance synaptic plasticity, the foundation of neural cell communication. The company has three product candidates in clinical development in central nervous system indications, including chronic pain, post-traumatic stress disorder, and cognitive impairment associated with Parkinson’s disease. Aptinyx is also advancing additional compounds from its proprietary discovery platform, which continues to generate a rich and diverse pipeline of small-molecule NMDA receptor modulators with the potential to treat an array of neurologic disorders. For more information, visit www.aptinyx.com.

Source: Aptinyx Inc.

Investor and Media Contact:

Nick Smith

Aptinyx Inc.

[email protected] or [email protected]

847-871-0377

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Health General Health Clinical Trials Research Science Pharmaceutical Biotechnology

MEDIA:

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Endo Announces Licensing Agreement for Paladin Labs Inc. to Commercialize Abaloparatide in Canada

PR Newswire

DUBLIN, Jan. 5, 2021 /PRNewswire/ — Endo International plc (NASDAQ: ENDP) announced today that its subsidiary Endo Ventures Limited has entered into definitive agreements with Radius Health, Inc. (NASDAQ: RDUS) to register, commercialize and distribute abaloparatide on an exclusive basis in Canada. Paladin Labs Inc., an operating company of Endo, will be responsible for all commercial activities related to abaloparatide. Under the agreement, Endo obtained the rights to abaloparatide-subcutaneous injection (abaloparatide-SC) and abaloparatide-transdermal patch (abaloparatide-TD), a novel formulation and route of administration currently undergoing clinical development.

Abaloparatide is a parathyroid hormone-related protein (PTHrP) analog under investigation for osteoporosis; it is not approved in Canada.  Abaloparatide is an anabolic (bone-forming) agent self-administered once daily. Paladin plans to file a New Drug Submission (NDS) with Health Canada for abaloparatide-SC by the first quarter of 2022.

In accordance with the terms of the agreements, if abaloparatide is approved in Canada, Paladin will be responsible for the registration, distribution, sales, marketing, medical affairs, pricing and reimbursement activities in connection with commercialization while Radius will be responsible for supplying the drug to Paladin.

“We are very pleased to work with Radius to possibly bring a new treatment option to the market for Canadian osteoporosis patients,” said Livio Di Francesco, Vice President and General Manager of Paladin. “This transaction marks our entry into the endocrine and metabolic therapeutic space.  Abaloparatide has shown promising clinical evidence to address an unmet need and it has the potential to become a very important addition to our existing Canadian portfolio.”

About Abaloparatide:

Abaloparatide is a PTH-1 selective parathyroid hormone-related protein (PTHrP) analog used to treat osteoporosis. In May 2017, the U.S. Food and Drug Administration approved abaloparatide-SC, marketed under the trade name TYMLOS®, for the treatment of postmenopausal women with osteoporosis at high risk for fracture, defined as history of osteoporotic fracture, multiple risk factors for fracture, or patients who have failed or are intolerant to other available osteoporosis therapy. This product is not approved in Canada. In 2019, Radius initiated the wearABLe study, a Phase III clinical trial comparing the safety and efficacy of abaloparatide-TD to abaloparatide-SC. The wearABLe study reached full enrollment in September 2020 and top line results are expected in the fourth quarter of 2021.

About Osteoporosis:

Osteoporosis is a progressive metabolic bone disorder characterized by compromised bone mineral density (BMD) and bone quality, predisposing to an increased risk of fracture. The World Health Organization defines the diagnostic threshold for osteoporosis as BMD measurement 2.5 standard deviations or more below the mean of a young, healthy reference group. Osteoporosis affects primarily women over the age of 50; the rapid decrease in estrogen that follows menopause is one major cause. In more severe cases, osteoporosis can cause recurring fractures of the spine, upper limbs and hip, which are in turn associated with significant morbidity and mortality.    

About Endo and Paladin Labs Inc.

Endo (NASDAQ: ENDP) is a specialty pharmaceutical company committed to helping everyone we serve live their best life through the delivery of quality, life-enhancing therapies. Our decades of proven success come from a global team of passionate employees collaborating to bring the best treatments forward. Together, we boldly transform insights into treatments benefiting those who need them, when they need them. Learn more at www.endo.com or connect with us on LinkedIn.

Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian market.  Paladin has a focused marketing and sales organization that has helped it evolve into one of Canada’s leading specialty pharmaceutical companies.  Paladin is an operating company of Endo International plc. For more information visit: www.endo.com or www.paladin-labs.com.

About Radius
 Health, Inc.

Radius is a science-driven fully integrated biopharmaceutical company that is committed to developing and commercializing innovative endocrine therapeutics. For more information, please visit www.radiuspharm.com.

U.S. Important Safety Information about TYMLOS® (abaloparatide) Injection

WARNING: RISK OF OSTEOSARCOMA

  • Abaloparatide caused a dose-dependent increase in the incidence of osteosarcoma (a malignant bone tumor) in male and female rats. The effect was observed at systemic exposures to abaloparatide ranging from 4 to 28 times the exposure in humans receiving the 80-mcg dose. It is unknown if TYMLOS will cause osteosarcoma in humans.
  • The use of TYMLOS is not recommended in patients at increased risk of osteosarcoma including those with Paget’s disease of bone or unexplained elevations of alkaline phosphatase, open epiphyses, bone metastases or skeletal malignancies, hereditary disorders predisposing to osteosarcoma, or prior external beam or implant radiation therapy involving the skeleton.
  • Cumulative use of TYMLOS and parathyroid hormone analogs (e.g., teriparatide) for more than 2 years during a patient’s lifetime is not recommended.

Orthostatic Hypotension: Orthostatic hypotension may occur with TYMLOS, typically within 4 hours of injection. Associated symptoms may include dizziness, palpitations, tachycardia or nausea, and may resolve by having the patient lie down. For the first several doses, TYMLOS should be administered where the patient can sit or lie down if necessary.

Hypercalcemia: TYMLOS may cause hypercalcemia. TYMLOS is not recommended in patients with pre-existing hypercalcemia or in patients who have an underlying hypercalcemic disorder, such as primary hyperparathyroidism, because of the possibility of exacerbating hypercalcemia.

Hypercalciuria and Urolithiasis: TYMLOS may cause hypercalciuria. It is unknown whether TYMLOS may exacerbate urolithiasis in patients with active or a history of urolithiasis. If active urolithiasis or pre-existing hypercalciuria is suspected, measurement of urinary calcium excretion should be considered.

Adverse Reactions: The most common adverse reactions (incidence ≥2%) are hypercalciuria, dizziness, nausea, headache, palpitations, fatigue, upper abdominal pain and vertigo.

INDICATIONS AND USAGE

TYMLOS is indicated for the treatment of postmenopausal women with osteoporosis at high risk for fracture defined as a history of osteoporotic fracture, multiple risk factors for fracture, or patients who have failed or are intolerant to other available osteoporosis therapy. In postmenopausal women with osteoporosis, TYMLOS reduces the risk of vertebral fractures and nonvertebral fractures.

Limitations of Use

Because of the unknown relevance of the rodent osteosarcoma findings to humans, cumulative use of TYMLOS and parathyroid hormone analogs (e.g., teriparatide) for more than 2 years during a patient’s lifetime is not recommended.

For the TYMLOS prescribing information, including Boxed Warning, please visit www.tymlospi.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including the statements by Mr. Di Francesco and other statements relating to the regulatory approval, distribution, sales, marketing, medical affairs, pricing, reimbursement activities, commercialization, safety, efficacy, clinical benefit, clinical trials, market potential and product potential of abaloparatide-SC and abaloparatide-TD, within the meaning of the Private Securities Litigation Reform Act of 1995 and the relevant Canadian securities legislation. Statements including words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plan,” “will,” “may,” “look forward,” “intend,” “guidance,” “future” or similar expressions are forward-looking statements. Because these statements reflect current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties and readers should not place undue reliance on them, or any other forward-looking statements or information in this news release. Investors should note that many factors, as more fully described in the documents led by Endo International plc with securities regulators in the United States and Canada including under the caption “Risk Factors” in Endo’s Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and with securities regulators in Canada on System for Electronic Document Analysis and Retrieval (“SEDAR”) and as otherwise enumerated herein or therein, could affect Endo’s future financial results and could cause Endo’s actual results to differ materially from those expressed in any forward-looking statements. The forward-looking statements in this press release are qualified by these risk factors which, individually or in the aggregate, could cause Endo’s actual results to differ materially from expected and historical results. Endo assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required under applicable securities law.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/endo-announces-licensing-agreement-for-paladin-labs-inc-to-commercialize-abaloparatide-in-canada-301201070.html

SOURCE Endo International plc

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Magnite to Present at 23rd Annual Needham Growth Conference

Magnite to Present at 23rd Annual Needham Growth Conference

LOS ANGELES–(BUSINESS WIRE)–
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, announced that Michael Barrett, President & Chief Executive Officer, will participate in a fireside chat hosted by Laura Martin from Needham, at the 23rd Annual Needham Growth Conference on Monday, January 11th at 1:15 pm eastern time.

A live webcast of the presentation will be available in the “Events and Presentations” section of Magnite’s investor relations website at http://investor.magnite.com. The webcast will be available for replay following the conclusion of the live presentation for 180 days.

About Magnite

We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform that combines Rubicon Project’s programmatic expertise with Telaria’s leadership in CTV. Publishers use our technology to monetize their content across all screens and formats—including desktop, mobile, audio and CTV. And the world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in sunny Los Angeles, bustling New York City, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM and APAC.

Investor Relations:

Nick Kormeluk, 949-500-0003

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Marketing Advertising Communications Other Technology Technology

MEDIA:

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Live Investor Conference & Webinar: Cannabis Industry Companies Present January 7th

Cannabis Company Executives share vision, answer questions live at VirtualInvestorConferences.com

PR Newswire

NEW YORK, Jan. 5, 2021 /PRNewswire/ — Virtual Investor Conferences and KCSA Strategic Communications today announced the agenda for the upcoming Cannabis Industry Virtual lnvestor Conference. Individual investors, institutional investors, advisors and analysts are invited to attend. The program opens at 9:45 AM ET, with the first live webcast at 10:00 AM ET, on Thursday, January 7th.     

REGISTER NOW AT:  https://bit.ly/3rLwcJK

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There are no fees to log-in, attend the live presentations or ask questions.

January 7
th Agenda:  


Eastern
ET
NYC


Presenting Company


Ticker(s)


10:00 AM

Acquired Sales Corp.

(OTCQX: AQSP)


10:30 AM

Vireo Health International Inc.

(OTCQX: VREOF | CSE: VREO)


11:00 AM

Aleafia Health Inc.

(OTCQX: ALEAF | TSX: AH)


11:30 AM

Gage Cannabis Co.

(Private Company)


12:00 PM

4Front Ventures Corp.

(OTCQX: FFNTF | CSE: FFNT)


12:30 PM

MariMed Inc.

(OTCQX: MRMD)


1:00 PM

The Valens Company

(OTCQX: VLNCF | TSX: VLNS)


1:30 PM

Clever Leaves International Inc.

(NASDAQ: CLVR, CLVRW)


2:00 PM

Slang Worldwide Inc.

(OTCQB: SLGWF | CSE: SLNG)


2:30 PM

Emerald Bioscience Inc.

(Pink: EMBI)


3:00 PM

Subversive Capital Acquisition Corp.

(OTCQX: SBVCF | NEO: SVC.A.U, SVC.WT.U)


3:30 PM

Tauriga Sciences, Inc.

(OTCQB: TAUG)


4:00 PM

Experion Holdings Ltd.

(OTCQB: EXPFF | TSX-V: EXP)

“This Thursday will mark our 12th virtual cannabis conference since we started back in 2017. Given the current environment, companies have continued to successfully utilize this platform to deliver their compelling stories and further drive investor awareness,” said Phil Carlson, Managing Director at KCSA Strategic Communications. “We have a robust group of companies lined up for the conference and we look forward to hearing what each company has in store for 2021.”

To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit 
www.virtualinvestorconferences.com.

About Virtual Investor Conferences
SM

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access.  Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/live-investor-conference–webinar-cannabis-industry-companies-present-january-7th-301200843.html

SOURCE VirtualInvestorConferences.com

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Cemtrex Reports Fourth Quarter and Full Year 2020 Financial Results

2020 Revenue Increases 11% to $43.5 Million & 2020 Gross Profit Margin Increases 400 Basis Points to 44%

Brooklyn, NY, Jan. 05, 2021 (GLOBE NEWSWIRE) —  — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has reported its financial and operational results for the fourth quarter and year ended September 30, 2020.

Key Fourth Quarter 2020 and Subsequent Operational Highlights

  • Received a $1 million order for a security technology system through its Advanced Technology Segment for a state-of-the-art video surveillance security system, including its Valerus software solution as well as cameras and related storage hardware, for a large correctional facility in the United Kingdom.
  • Vicon subsidiary released highly advanced updated Thermal Sensor models, a 360-degree surveillance solution that combines powerful high-end thermal technology with high-resolution PTZs (pan/tilt/zoom) for unparalleled perimeter protection in wide-open spaces like power stations, airports, corrections facilities, construction sites, and other secure facilities.
  • Engaged international investor relations specialists MZ Group to lead a comprehensive strategic investor relations and financial communications program across all key markets.
  • Subsidiary Vicon awarded a $500,000 contract from a major Pacific Northwest school district for its V1110 series Thermal Body Temperature Measurement Camera.
  • Received a $500,000 order to upgrade a security technology system through the Advanced Technology Segment for a large Tennessee based corrections facility.
  • Completed acquisition of training simulation technology company Virtual Driver Interactive (VDI) to enhance the Company’s Augmented & Virtual Reality Growth Segment and VR Training product line.
  • Subsidiary VDI now offering the Driving EssentialsXE program on the newly released Sony PS5 and Microsoft Xbox Series X platforms, in addition to their full line of simulation training products for schools and public safety organizations.
  • Made a strategic investment into MasterpieceVR, the developer of a professional desktop and VR application suite that offers 3D content creation tools, primarily for virtual reality.
  • Unveiled the SmartDesk Connect, an advanced workstation that includes 4K UHD monitors, a sit-stand desk, ergonomic tabletop, with built-in wireless phone charger, all powered by a user’s laptop when connected to the SmartDesk.

Full Year 2020 Operational Highlights

  • WordPress VIP, the leading provider of enterprise WordPress, added CemtrexLabs to its prestigious Featured Agency Partner program, one of only 30 partners in this prestigious group and the first agency partner with full stack virtual and augmented reality (VR, AR & MR) capabilities.
  • Acquired two properties the Company had been leasing for its industrial segment business located in the York, PA area including a 48,000 sq ft and 25,000 sq ft facility, used for office, manufacturing, and warehousing needs.
  • Received over $300,000 in new orders for the development of virtual reality (VR) and augmented reality (AR) applications from 3 different customers, representing a 500% increase in the quarter from the prior year.
  • Received orders totaling over $2 million in its Advanced Technology segment for several security surveillance systems for government and commercial buildings including correctional facilities, including software development services for web, mobile, enterprise, and virtual reality applications.
  • Granted first patent for Cemtrex’s revolutionary and groundbreaking IoT product, the SmartDesk, which increases productivity and modernizes the personal workspace.
  • Vicon subsidiary released new Thermal Body Temperature Measurement Camera, the V1100B-THM-TEMP, designed to help organizations of all types to minimize the risk of reopening their facilities during the COVID-19 global pandemic.
  • Closed two registered direct offering priced at-the-market of $5.5 million and $5.4 million.
  • Vicon subsidiary released advanced edge-based analytics for select camera lines, including the new V980 series which can proactively alert security operators to critical events such as theft, suspicious objects, crowds gathering and more.

Management Commentary

Cemtrex’s Chairman and CEO, Saagar Govil, commented on the results: “2020 has been a milestone year for our company as we continued to innovate, grow and expand Cemtrex. Despite the challenges of a global pandemic, we increased revenues by 11% for the year, a testament to our team’s hard work and our focus on product development and strategic acquisition opportunities. We anticipate top line growth to continue in the coming year as our market returns to normal and customers reopen for business and resume purchasing.

“In our 2020 fiscal first quarter we made significant progress in restructuring our businesses for the future, improving both EBITDA and gross margins, and saw a return to generating an operating profit. In the second quarter, we continued to see improvement in our businesses despite the short-term effects of COVID-19. We remained focused on executing our development roadmap of high tech products in IoT, AR & VR, as well as in Artificial Intelligence and Machine Vision. We received new orders across all our business segments, including a 500% increase in new orders for development of AR/VR applications and $2 million in new orders in our Advanced Technologies segment.

“During our third quarter we received a major cash infusion of over $10 million from institutional investors which bolstered the balance sheet and fueled the Company for growth. With the financings completed, we have substantial cash to meet and accelerate the release of several exciting and innovative products we plan to deliver over the next twelve months.

“Highlights from the fourth quarter included new contracts and upgraded products under our security technology brand, Vicon. This included a first of its kind order of its Thermal Body Temperature Measurement Cameras to assist in the detection and mitigation of COVID-19 risk at a major school district in the Pacific Northwest. Vicon also began offering an upgraded Thermal Sensor model for clients like airports and correctional facilities looking for cost-effective and comprehensive solutions to enhance their perimeter surveillance systems. During the fourth quarter we also expanded our commitment to the capital markets and to shareholders through enhanced investor relations initiatives with our new partner MZ Group.

“More recently, in our first quarter of 2021, we announced the next generation SmartDesk, the SmartDesk Connect. The product is an evolution of original patented SmartDesk, providing may of the same features but also allowing users to use their own laptop instead of a built-in PC. Finally, our strategic acquisitions efforts paid off with the completion of our acquisition of Virtual Driver Interactive, a training simulation technology company, to enhance our Augmented & Virtual Reality growth segment & VR Training product line. Our investment in MasterpieceVR further complemented this segment, allowing us to capture more upside as the VR market continues to accelerate.

“Throughout the year, we have striven to drive forward our business, achieving several key milestones in our internal roadmap with a focus on innovation and product development. 2020 was marked by our significant achievements across business segments, and our fortified our balance sheet. This is an exciting time for Cemtrex, and I believe we are well positioned to create sustainable value for our shareholders,” concluded Govil.

Fourth Quarter and Full Year 2020 Financial Results

Revenue for the full year of 2020 totaled $43.5 million, compared to revenue of $39.3 million for the full year of 2019, an 11% increase year over year. Revenues for the fourth quarter of 2020 were $10.7 million, compared to $10.9 million in the fourth quarter of 2019. The increase in revenues for the year were due to sales increases in the Advanced Technology Segment, with segment revenues for the years ended September 30, 2020 and 2019 of $25.8 million and $19.3 million respectively, an increase of 34%. Industrial Services segment revenues for the full year 2020 decreased by 11%, to $17.8 million, primarily due to the decrease in demand for services due to the COVID-19 crisis.

Gross profit for the full year of 2020 was $19.4 million, or 44% of revenues, of which the fourth quarter contributed $5.4 million. The Company’s 2020 gross margin increase was a result of the sale of products and services with higher profit margins.  

Total operating expenses for 2020 were $23.4 million, of which $6.1 million were incurred in the fourth quarter. Total operating expenses for 2019 totaled $23.0 million. The increase in total operating expenses was primarily driven by increases in personnel costs, insurance and research and development, offset by savings measures enacted during the fiscal year.

Operating activities for continuing operations used $2.2 million for the year ended September 30, 2020 compared to using $3.6 million of cash for the year ended September 30, 2019.

The Adjusted EBITDA loss decreased by 87%, with $1.063 million loss in the year ended September 30, 2020, compared to $8.035 million loss for the year ended September 30, 2019. For the fourth quarter the Adjusted EBITDA increased by 108%, with a positive Adjusted EBITDA of $311 thousand in 2020, compared to a negative Adjusted EBITDA of $3.990 million for the same period in 2019. A reconciliation table of the adjusted EBITDA is provided below.

Net loss for the full year of 2020 was $13.1 million, as compared to a net loss of $24.3 million in 2019. Net loss in the fourth quarter of 2020 totaled $4.4 million compared to a net loss of $16.3 million in the fourth quarter of 2019.

Cash and cash equivalents totaled $19.7 million at September 30, 2020, as compared to $12.9 million at June 30, 2020 and $1.8 million at September 30, 2019.

About
Cemtrex

Cemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems.
www.cemtrex.com.

Non-GAAP Adjusted EBITDA Reconciliation Table

Following is a reconciliation of income from continuing operations attributable to the Company for the three months and year ended September 30, 2020 as presented in accordance with United States generally accepted accounting principles (GAAP) to EBITDA.

  Three Months Ended
September 30, 		  Year Ended

September 30, 2020
In Thousands 2020   2019     2020     2019  
Net loss from continuing operations (GAAP measure) $ 2,387   $ 5,665     $ 8,894     $ 11,303  
Non-GAAP adjustments:                      
Interest expense paid in equity shares   96     302       2,859       1,590  
Income Tax Benefits   1,877     619       2,074       (1,336 )
Depreciation and amortization   725     754       2,898       3,014  
                       
                       
Adjusted Net Income/ (Loss) $ 311   $ (3,990 )   $ (1,063 )   $ (8,035 )

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.

Cemtrex Inc. and Subsidiaries

CONSOLIDATED BALANCE SHEETS

    September 30,     September 30,  
Assets   2020     2019  
Current assets                
Cash and equivalents   $ 19,490,061     $ 1,769,994  
Restricted cash     1,582,798       1,088,091  
Short-term investments     887,746       412,730  
Accounts receivables, net     6,686,797       6,458,984  
Accounts receivables – related party     1,432,209       771,519  
Notes receivable – short-term     –       1,713,371  
Inventory –net of allowance for inventory obsolescence     6,793,806       5,207,155  
Prepaid expenses and other assets     1,188,317       1,455,765  
Total current assets     38,061,734       18,877,609  
                 
Property and equipment, net     9,558,936       16,776,552  
Right-of-use assets     2,728,380       –  
Assets held for sale     8,323,321       –  
Goodwill     4,370,894       4,370,894  
Notes receivable – long-term     –       1,586,918  
Deferred tax asset     –       2,282,867  
Other     744,207       497,857  
Total Assets   $ 63,787,472     $ 44,392,697  
                 
Liabilities & Stockholders’ Equity                
Current liabilities                
Accounts payable   $ 2,857,817     $ 4,236,945  
Current portion of long-term liabilities     7,034,510       6,817,534  
Lease liabilities – short-term     721,036       22,718  
Deposits from customers     29,660       33,074  
Accrued expenses     2,392,487       2,673,646  
Deferred revenue     1,651,784       1,433,803  
Accrued income taxes     89,318       419,541  
Total current liabilities     14,776,612       15,637,261  
                 
Long-term liabilities                
Loans payable to bank, net of current portion     1,871,201       2,240,526  
Long-term lease liabilities, net of current portion     2,027,406       20,061  
Notes payable, net of current portion     6,029,999       2,817,661  
Mortgage payable, net of current portion     2,355,542       –  
Other long-term liabilities     1,063,733       1,221,549  
Series 1 preferred stock dividends payable     1,081,690       –  
Paycheck Protection Program Loans     2,169,437       –  
Deferred revenue – long-term     467,329       489,535  
Total long-term liabilities     17,066,337       6,789,332  
Total liabilities     31,842,949       22,426,593  
                 
Commitments and contingencies     –       –  
                 
Stockholders’ equity                
Preferred stock , $0.001 par value, 10,000,000 shares authorized,                
Series 1, 3,000,000 shares authorized, 2,156,784 shares issued and outstanding as of September 30, 2020 and 2,110,718 shares issued and outstanding as of September 30, 2019 (liquidation value of $10 per share)     2,157       2,111  
Series A, 1,000,000 shares authorized, issued and outstanding at September 30, 2020 and September 30, 2019     1,000       1,000  
Series C, 100,000 shares authorized, issued and outstanding at September 30, 2020     100       –  
Common stock, $0.001 par value, 40,000,000 shares authorized, 17,622,539 shares issued and outstanding at September 30, 2020 and 3,962,790 shares issued and outstanding at September 30, 2019     17,623       3,963  
Additional paid-in capital     63,313,336       40,344,837  
Accumulated deficit     (33,172,690 )     (20,067,685 )
Treasury stock at cost     (148,291 )     –  
Accumulated other comprehensive income     853,643       796,004  
Cemtrex stockholders’ equity     30,866,878       21,080,230  
Non-controlling interest     1,077,645       885,874  
Total liabilities and stockholders’ equity   $ 63,787,472     $ 44,392,697  

Cemtrex Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

    For the year ended  
    September 30, 2020     September 30, 2019  
             
Revenues   $ 43,518,384     $ 39,265,041  
Cost of revenues     24,153,937       23,702,367  
Gross profit     19,364,447       15,562,674  
                 
Operating expenses                
General and administrative     21,570,666       21,528,145  
Research and development     1,827,286       1,481,879  
Total operating expenses     23,397,952       23,010,024  
Operating loss     (4,033,505 )     (7,447,350 )
                 
Other income (expense)                
Other Income     1,821,029       (62,705 )
Loss on equity interests     –       (342,776 )
Interest expense     (4,607,453 )     (4,785,506 )
Total other expense, net     (2,786,424 )     (5,190,987 )
                 
Net loss before income taxes     (6,819,929 )     (12,638,337 )
Income tax benefit/(expense)     (2,073,835 )     1,335,584  
Loss from continuing operations     (8,893,764 )     (11,302,753 )
                 
Loss from discontinued operations, net of tax     (812,895 )     (10,559,963 )
                 
Net loss     (9,706,659 )     (21,862,716 )
                 
Less income in noncontrolling interest     227,116       502,225  
Net loss   $ (9,933,775 )   $ (22,364,941 )
Preferred dividends     (3,171,230 )     (1,965,500 )
Net loss available to Cemtrex, Inc. shareholders   $ (13,105,005 )   $ (24,330,441 )
                 
Other comprehensive income                
Foreign currency translation gain     57,639       1,624,253  
Other comprehensive income attributable to noncontrolling interest     (35,345 )     (344,952 )
Comprehensive income     22,294       1,279,301  
                 
Comprehensive loss   $ (13,082,711 )   $ (23,051,140 )
                 
Loss Per Share-Basic                
Continuing Operations   $ (1.28 )   $ (6.07 )
Discontinued Operations   $ (0.08 )   $ (4.66 )
Loss Per Share-Diluted                
Continuing Operations   $ (1.28 )   $ (6.07 )
Discontinued Operations   $ (0.08 )   $ (4.66 )
                 
Weighted Average Number of Shares-Basic     9,611,516       2,267,501  
Weighted Average Number of Shares-Diluted     9,611,516       2,267,501  

Cemtrex Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF CASH FLOWS

    For the year ended  
    September 30,  
Cash Flows from Operating Activities   2020     2019  
             
Net loss   $ (9,706,659 )   $ (21,862,716 )
Net loss from discontinued operations     (812,895 )     (10,559,963 )
Net loss from continuing operations     (8,893,764 )     (11,302,753 )
                 
Adjustments to reconcile net loss to net cash provided/(used) by operating activities:                
Depreciation and amortization     2,898,399       3,013,986  
Gain/(loss) on disposal of property & equipment     37,910       471,019  
Amortization of right-of-use assets     816,550       –  
Change in allowance for inventory obsolescence     636,981       –  
Change in allowance for doubtful accounts     (265,203 )     –  
Amortization of original issue discounts on notes payable     944,778       108,222  
Share-based compensation     191,416       622,232  
Interest expense paid in equity shares     2,859,125       1,590,374  
Income tax expense/(benefit)     2,073,835       (1,335,584 )
Loss on equity interests     –       342,776  
Changes in operating assets and liabilities net of effects from acquisition of subsidiaries:                
Accounts receivable     37,390       3,082,635  
Accounts receivable – related party     (660,690 )     (61,799 )
Inventory     (2,223,632 )     1,341,569  
Prepaid expenses and other current assets     267,448       (240,732 )
Other assets     (246,350 )     (27,418 )
Other liabilities     (157,816 )     1,221,549  
Accounts payable     (846,340 )     (2,114,250 )
Operating lease liabilities     (816,549 )     –  
Deposits from customers     (3,414 )     (17,545 )
Accrued expenses     (4,820 )     (493,921 )
Deferred revenue     195,775       228,024  
Income taxes payable     (121,191 )     –  
Net cash used by operating activities – continuing operations     (3,280,162 )     (3,571,616 )
Net cash provided/(used) by operating activities – discontinued operations     (812,895 )     7,507,090  
Net cash provided/(used) by operating activities     (4,093,057 )     3,935,474  
                 
Cash Flows from Investing Activities                
Net change in self-insured benefit deposits     (494,707 )     (1,659,480 )
Purchase of property and equipment     (1,566,014 )     14,000  
Purchase of marketable securities     (475,016 )     (398,291 )
Payments received on notes receivable     3,300,289          
Net cash provided/(used) by investing activities – continuing operations     764,552       (2,043,771 )
Net cash provided by investing activities – discontinued operations     –       8,883,541  
Net cash provided/(used) by investing activities     764,552       6,839,770  
                 
Cash Flows from Financing Activities                
Proceeds from notes payable     8,485,000       2,595,000  
Payments on notes payable     (851,640 )     (414,859 )
Issuance of notes receivable     –       (3,300,289 )
Proceeds on bank loans     3,831,100       –  
Payments on bank loans     (778,090 )     (1,440,535 )
Proceeds from securities purchase agreements     12,462,648       –  
Expenses on securities purchase agreements     (840,728 )     –  
Proceeds from at-the-market offerings     –       957,784  
Expenses on at-the-market offerings     –       (41,438 )
Proceeds from the issuance of Series B Preferred Stock     –       500,000  
Expenses from the issuance of Series B Preferred Stock     –       (25,000 )
Settlement of Series B Preferred Stock in cash     –       (273,092 )
Revolving line of credit     (425,812 )     (925,124 )
Purchases of treasury stock     (338,775 )     –  
Payments on capital lease liabilities     (22,718 )     (24,286 )
Net cash provided/used by financing activities – continuing operations     21,520,985       (2,391,839 )
Net cash used by financing activities – discontinued operations     –       (9,465,508 )
Net cash provided/(used) by financing activities     21,520,985       (11,857,347 )
                 
Effect of currency translation     22,294       1,624,253  
Net increase in cash, cash equivalents, and restricted cash     18,192,480       (1,082,103 )
Cash, cash equivalents, and restricted cash at beginning of period     2,858,085       2,315,935  
Cash, cash equivalents, and restricted cash at end of period   $ 21,072,859     $ 2,858,085  
                 
Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash                
Cash and equivalents   $ 19,490,061     $ 1,769,994  
Restricted cash     1,582,798       1,088,091  
Total cash, cash equivalents, and restricted cash   $ 21,072,859     $ 2,858,085  
                  



Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
[email protected]
www.mzgroup.us

Posted on

TE Connectivity to hold annual general meeting of shareholders March 10, 2021

PR Newswire

SCHAFFHAUSEN, Switzerland, Jan. 5, 2021 /PRNewswire/ — TE Connectivity Ltd. (NYSE: TEL) today announced that its 2021 annual general meeting of shareholders (AGM) will be held March 10 at 2 p.m. CET (8 a.m. EST) at Bär & Karrer Ltd., Brandschenkestrasse 90, Zurich, Switzerland. Shareholders who are registered with voting rights in the share register of TE as of the close of business (EST) on Feb. 18 (the record date) will be entitled to vote on the matters presented at the AGM. Beneficial holders whose shares are held by nominees registered with voting rights in TE’s share register on their behalf as of the same time and date will be entitled to instruct nominees to vote on the matters presented at the AGM.

Full details about voting are provided in TE’s preliminary proxy statement for the AGM, which has been filed with the U.S. Securities and Exchange Commission. A Notice of Internet Availability of Proxy Materials (Notice) relating to the AGM will be mailed to each shareholder registered in the share register of TE as of the close of business (EST) on Jan. 6. Instructions on how to access the proxy materials over the internet or request a printed set of proxy materials will be provided in the Notice. The Notice also will provide instructions on how to submit a proxy over the internet or via mail.

A copy of the proxy materials, including a proxy card, also will be sent to any additional shareholders who are registered in our share register as shareholders with voting rights, or who become beneficial owners through a nominee registered in our share register as a shareholder with voting rights, as of the close of business (EST) on Feb. 18.

Shareholders are urged to read the definitive proxy statement which contains important information. The company has requested that banks, brokerage firms and other nominees who hold TE shares on behalf of beneficial owners as of the close of business (EST) on Jan. 6 forward the Notice to those beneficial shareholders and forward the proxy materials, together with a voting instruction card, to any additional beneficial owners who acquire their shares after the close of business (EST) on Jan. 6 and continue to hold them at the close of business (EST) on Feb. 18.  In order to vote or give instructions to vote (as applicable), holders of record and beneficial owners who hold shares at the close of business (EST) on or after Jan. 6 must continue to hold those shares at the close of business (EST) on Feb. 18.

Due to restrictions in Switzerland from the COVID-19 pandemic, the 2021 AGM will not take place in its usual format and shareholders will not be able, or permitted, to attend the AGM in person. The Swiss Federal Council Ordinance on Measures during the Special Situation to Combat the COVID-19 Epidemic currently places limitations on public gatherings in Switzerland, and the Swiss Ordinance on Measures to Combat the Coronavirus (COVID-19) in International Passenger Transport places restrictions on entry and international travel, including quarantine requirements. In accordance with the Swiss Federal Council Ordinance 3 on Measures to Combat the Coronavirus, shareholders and beneficial owners of TE Connectivity shares must therefore exercise their voting rights by giving proxy related voting instructions to the independent proxy either electronically or by mail as described in the definitive proxy statement.

About TE Connectivity

TE Connectivity Ltd. (NYSE: TEL) is a $12 billion global industrial technology leader creating a safer, sustainable, productive, and connected future. Our broad range of connectivity and sensor solutions, proven in the harshest environments, enable advancements in transportation, industrial applications, medical technology, energy, data communications, and the home. With approximately 80,000 employees, including more than 7,500 engineers, working alongside customers in approximately 140 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat and Twitter.

 

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SOURCE TE Connectivity Ltd.

Posted on

FiscalNote Announces Acquisition of FactSquared

The AI-powered transcription firm’s wealth of advanced technology will complement FiscalNote’s current suite of political and regulatory intelligence products and services

Washington, DC, Jan. 05, 2021 (GLOBE NEWSWIRE) — FiscalNote, a global technology company that provides software and political intelligence around legislative and regulatory risk, announced that it has acquired AI-enabled transcription and alternative data firm FactSquared. 

“Receiving timely and accurate read-outs of comments made by our public officials is a crucial service to our clients,” said FiscalNote founder and CEO, Tim Hwang. “FactSquared’s commitment to innovative rigor in the transcripts space will not only further strengthen the robust set of products and services we provide clients, but also drive meaningful technological innovation as we continue expanding the breadth and depth of our offerings globally.”

FactSquared gained national attention for running Factba.se, a website that transcribes and analyzes every word spoken publicly by President Trump. It has been the canonical source for everything the President has said publicly since January 2017, making his speeches, tweets, schedule and announcements instantly searchable in real time, without commentary or opinion. It has been cited more than 4,000 times by CNN, The Washington Post, The New York Times, Fox News, MSNBC and hundreds of media outlets worldwide.

“Our AI platform has had an enormous impact in the political information space over the past four years,” noted FactSquared founder and CEO, Bill Frischling. “But when thinking about what’s next for FactSquared, we quickly realized that by joining FiscalNote, we’d have the opportunity to not just expand the reach and impact of our current technology, but also team up with their brilliant data scientists and machine-learning experts to build some pretty exciting products and services.”

FactSquared was founded in 2017 by both Frischling and former Head of the Office of Investment and Innovation at the Small Business Administration, Mark Walsh, who also served on FactSquared’s board of directors. Frischling will join FiscalNote’s Research and Development team, while Walsh will become an advisor to FiscalNote. Mary-Sara Camerino, FactSquared’s COO, will work with FiscalNote to help integrate the business and continue FactSquared’s legacy of innovation.

About FiscalNote
FiscalNote is a global technology company focused on delivering timely and relevant political and regulatory intelligence in a complex and evolving world. More than 4,000 clients worldwide rely on FiscalNote for legislative and regulatory data, policy news & analysis, stakeholder management, collaboration and advocacy tools. 

To learn more about FiscalNote and its family of brands, visit www.fiscalnote.com. 

About FactSquared
FactSquared is an alternative data company specializing in analyzing and transcribing public figures by building unique neural profiles based on everything an individual has said and how they said it. FactSquared’s proprietary algorithms allow its customers to analyze what someone says like any other data — finding trends, correlations, patterns, and outliers in the information. FactSquared customers know what wasn’t said as well as what was said.

Attachment 



Mike Stubbs
FiscalNote
[email protected]

Posted on

ElectraMeccanica to Present at the 23rd Annual Needham Growth Conference on January 12, 2021

VANCOUVER, British Columbia, Jan. 05, 2021 (GLOBE NEWSWIRE) — ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles, has been invited to present at the 23rd Annual Needham Growth Conference, which is being held virtually on January 11-15, 2021.

ElectraMeccanica management is scheduled to present on Tuesday, January 12, 2021 at 5:00 p.m. Eastern time, with one-on-one meetings to be held throughout the conference. The Company’s presentation will be webcast live and available for replay here.

For additional information or to schedule a one-on-one meeting with ElectraMeccanica management, please contact your Needham representative or Gateway Investor Relations at (949) 574-3860 or [email protected].

About ElectraMeccanica Vehicles Corp.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of environmentally efficient electric vehicles (EVs). The company’s flagship vehicle is the innovative, purpose-built, single-seat EV called the SOLO. This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility. The SOLO provides a driving experience that is unique, trendy, fun, affordable and environmentally friendly. InterMeccanica, a subsidiary of ElectraMeccanica, has successfully been building high-end specialty cars for 61 years. For more information, please visit www.electrameccanica.com.


Safe Harbor Statement


Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute “forward-looking statements” as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the automotive industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

Company Contact

Ms. Bal Bhullar, CPA, CGA, CRM
Chief Financial Officer & Director
(604) 428-7656
[email protected]

Investor Relations Contact

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

Public Relations Contact

Amy Pandya
R&CPMK
(310) 967-3418
[email protected]



Posted on

OSS Wins Fourth Program with Major Military Contractor

ESCONDIDO, Calif., Jan. 05, 2021 (GLOBE NEWSWIRE) — One Stop Systems, Inc. (Nasdaq: OSS), a leader in specialized high-performance edge computing, has expanded its engagement at a major military prime contractor with its fourth major program win.

This latest program, named “Orange Gear,” involves building an AI system consisting of a cluster of three OSS custom GPU-accelerated rugged servers. The server cluster has been designed to meet the unique power and ruggedization requirements of this airborne application. It is packed with the latest 200Gb Ethernet server-to-server networking, Gen 4 PCIe internal interconnects, NVMe storage devices, and third-party GPUs for edge AI acceleration.

Computing and storage systems ruggedization pushes the requirements for ‘edge performance without compromise’ for AI applications to boundaries not seen in the data center. Orange Gear furthers the company’s ‘data center in the sky’ strategy of combining compute platforms with solid-state storage units.

Orange Gear is similar to OSS’ first compute win with this prime contractor announced in June of last year which is currently being deployed under a multi-year contract. The deployment involves OSS all-in-one rugged GPU accelerated servers that enable U.S. Navy aircraft to conduct real-time AI-powered threat detection.

Altogether, the four major programs with the military prime contractor include:

  • Ground-based missile defense radar simulation
  • Data storage unit for radar data in flight for the Navy
  • Single server for AI ‘data center in the sky’ for the Navy
  • Three server cluster for AI ‘data center in the sky’ for the Navy

OSS expects these four programs to contribute additional revenue over the coming years. The success of these programs led to the company’s first program win directly with the Navy for one of the company’s storage products for other Navy aircraft.

“This latest ‘data center in the sky’ project expands our footprint with this key military contractor and provides further validation of our technology for mission critical U.S. Navy applications,” commented Jim Ison, OSS chief sales and marketing officer. “The win also reflects the increasing business we’ve been generating by combining our storage and computing solutions. We will continue to leverage our unique capabilities in specialized high-performance edge computing to expand the support of wartime theater applications for land, sea, air and space.”

About One Stop Systems

One Stop Systems, Inc. (OSS) designs and manufactures innovative specialized high-performance edge computing modules and systems, including customized servers, compute accelerators, expansion systems, flash storage arrays and Ion Accelerator storage software. These products are used for deep learning, AI, defense, finance, and entertainment applications, and empower scientists, engineers, creators and other professionals to push the boundaries of their industries.

OSS utilizes the power of PCI Express Gen 4, the latest GPU accelerators and NVMe storage to build award-winning systems, including many industry firsts, for OEMs and government customers. The company enables bringing AI datacenter performance to ‘the edge’ by addressing the entire AI workflow, from high speed data acquisition to deep learning, training and inference. OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com.

Forward-Looking Statements

One Stop Systems cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by One Stop Systems or its partners that any of our plans or expectations will be achieved, including but not limited to, the performance of the rugged servers and interconnects, application compatibility, application performance, the timing of the custom server product shipments, or the fitness of the products for a particular DoD, US Navy or edge application. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Media Contact:

Katie Rivera
One Stop Systems, Inc.
Tel (760) 745-9883
Email contact

Investor Relations:

Ronald Both or Grant Stude
CMA
Tel (949) 432-7557
Email contact