Market Newsdesk

LOS ANGELES, CA, Nov. 19, 2020 (GLOBE NEWSWIRE) — Oaktree Specialty Lending Corporation (NASDAQ: OCSL) (“Oaktree Specialty Lending” or the “Company”), a specialty finance company, today announced its financial results for the fiscal quarter and year ended September 30, 2020.

Financial Highligh
ts for the Quarter and Year Ended September 30, 2020

• Total investment income was $43.6 million ($0.31 per share) and $143.1 million ($1.02 per share) for the fourth fiscal quarter and full fiscal year of 2020, respectively, as compared with $34.4 million ($0.24 per share) and $147.7 million ($1.05 per share) for the third fiscal quarter of 2020 and the full fiscal year of 2019, respectively. The increase in investment income for the quarter was primarily driven by higher make-whole interest income, original issue discount (“OID”) acceleration and prepayment fees resulting from exits of investments. The decrease in investment income for the full year was primarily driven by lower LIBOR and lower OID income, partially offset by higher make-whole interest income and prepayment fees resulting from exits of investments, a larger average investment portfolio and higher yields on new originations.

• GAAP net investment income was $24.5 million ($0.17 per share) and $72.0 million ($0.51 per share) for the fourth fiscal quarter and full fiscal year of 2020, respectively, as compared with $16.8 million ($0.12 per share) and $67.9 million ($0.48 per share) for the third fiscal quarter of 2020 and the full fiscal year of 2019, respectively. The increase for the quarter was primarily due to higher investment income. The full-year increase was primarily driven by interest expense savings from the issuance of the 2025 Notes and subsequent repayment of the 2024 Notes and 2028 Notes and lower LIBOR, partially offset by lower investment income.

• Adjusted net investment income was $24.5 million ($0.17 per share) and $71.6 million ($0.51 per share) for the fourth fiscal quarter and full fiscal year of 2020, respectively, as compared with $16.8 million ($0.12 per share) and $69.0 million ($0.49 per share) for the third fiscal quarter of 2020 and the full fiscal year of 2019, respectively. The increase in adjusted net investment income for the quarter was primarily driven by higher investment income. The increase in adjusted net investment income for the full year was primarily driven by interest expense savings from the issuance of the 2025 Notes and subsequent repayment of the 2024 Notes and 2028 Notes and lower LIBOR, partially offset by lower investment income.

• Net asset value (
  “NAV”) per share was $6.49 as of September 30, 2020, up 6% from $6.09 as of June 30, 2020. The increase in NAV for the quarter was primarily attributable to unrealized gains resulting from price increases on liquid debt investments and the impact of tighter credit spreads on private debt investment valuations following the improvement in broader credit market conditions, realized gains on equity investments and undistributed net investment income. NAV was down 2% from $6.60 as of September 30, 2019 primarily due to depreciation of certain debt and equity investments related to increased market volatility resulting from the onset of the COVID-19 pandemic in March 2020, partially offset by undistributed net investment income.

• Originated $148.5 million of new investment commitments and received $184.2 million of proceeds from prepayments, exits, other paydowns and sales during the quarter ended September 30, 2020. Of these new investment commitments, 83.0% were first lien loans and 16.7% were second lien loans. The weighted average yield on new debt investments was 10.6%.

• Total debt outstanding was $714.8 million as of September 30, 2020. The total debt to equity ratio was 0.78x, and the net debt to equity ratio was 0.74x, after adjusting for cash and cash equivalents.

• Liquidity as of September 30, 2020 was composed of $39.1 million of unrestricted cash and cash equivalents and $285.2 million of undrawn capacity under the credit facility (subject to borrowing base and other limitations). Unfunded investment commitments were $157.5 million, with approximately $94.0 million that can be drawn immediately as the remaining amount is subject to certain milestones that must be met by portfolio companies.

• A quarterly cash distri
  bution was declared of $0.11 per share, a 5% increase from the prior quarter distribution and the second consecutive quarterly distribution increase. The distribution will be paid in cash and is payable on December 31, 2020 to stockholders of record on December 15, 2020.

Armen Panossian, Chief Executive Officer and Chief Investment Officer, said, “The fourth quarter completed a strong year for OCSL, highlighted by continued earnings growth and robust portfolio performance in a volatile and challenging investment environment. For the quarter, OCSL delivered $0.17 of net investment income per share, a record under Oaktree’s management, reflecting our ability to deploy capital on attractive terms and complemented by the successful exit of one of our recent opportunistic investments, NuStar Logistics, L.P. We also took advantage of the recent favorable market conditions to sell certain investments at gains, resulting in NAV growth of over 6% during the quarter, and bringing NAV within 2% of its pre-pandemic level as of December 31, 2019. In light of our continued strong performance, the Board of Directors announced a 5% increase to the December dividend to $0.11 per share, the second consecutive quarter with a dividend increase. All told, we believe we are very well-positioned for fiscal year 2021.”

Distribution Declaration

The Board of Directors declared a quarterly distribution of $0.11 per share, an increase of 5%, or $0.005 per share, from the prior quarter, payable on December 31, 2020 to stockholders of record on December 15, 2020.

Distributions are paid primarily from distributable (taxable) income. To the extent taxable earnings for a fiscal taxable year fall below the total amount of distributions for that fiscal year, a portion of those distributions may be deemed a return of capital to the Company’s stockholders.

Results of Operations

		For the three months ended													For the year ended
($ in thousands, except per share data)		September 30, 2020 (unaudited)				June 30, 2020 (unaudited)				September 30, 2019 (unaudited)					September 30, 2020					September 30, 2019
GAAP operating results:
Interest income		$	37,153			$	30,112			$	30,662				$	125,568				$	133,670
PIK interest income		2,573				2,183				1,187					7,863					5,497
Fee income		3,571				1,827				2,550					8,519					6,710
Dividend income		302				281				114					1,183					1,825
Total investment income		43,599				34,403				34,513					143,133					147,702
Net expenses		19,054				17,633				18,238					71,141					79,793
Net investment income		24,545				16,770				16,275					71,992					67,909
Net realized and unrealized gains (losses), net of taxes		46,072				103,461				(2,304		)			(32,768		)			58,251
Net increase (decrease) in net assets resulting from operations		$	70,617			$	120,231			$	13,971				$	39,224				$	126,160
Net investment income per common share		$	0.17			$	0.12			$	0.12				$	0.51				$	0.48
Net realized and unrealized gains (losses), net of taxes per common share		$	0.33			$	0.73			$	(0.02	)			$	(0.23	)			$	0.41
Earnings (loss) per common share — basic an d diluted		$	0.50			$	0.85			$	0.10				$	0.28				$	0.89
Non-GAAP Financial Measures 1 :
Adjusted net investment income		$	24,545			$	16,770			$	16,713				$	71,635				$	69,032
Adjusted net investment income per common share		$	0.17			$	0.12			$	0.12				$	0.51				$	0.49

______________________
^{1 See Non-GAAP Financial Measures — Adjusted Net Investment Income below for a description of this non-GAAP measure and a reconciliation from net investment income to adjusted net investment income, including on a weighted-average per share basis. The Company’s management uses this non-GAAP financial measure internally to analyze and evaluate financial results and performance and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company without giving effect to capital gains incentive fees. The presentation of adjusted net investment income is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.}

		As of
($ in thousands, except per share data and ratios)		September 30, 2020				June 30, 2020 (unaudited)				September 30, 2019
Select balance sheet and other data:
Cash and cash equivalents		$	39,096			$	50,728			$	15,406
Investment portfolio at fair value		1,573,851				1,561,153				1,438,042
Total debt outstanding (net of unamortized financing costs)		709,315				761,002				473,367
Net assets		914,879				859,063				930,630
Net asset value per share		6.49				6.09				6.60
Total debt to equity ratio		0.78		x		0.89		x		0.51		x
Net debt to equity ratio		0.74		x		0.83		x		0.49		x

Total investment income for the quarter ended September 30, 2020 was $43.6 million and included $37.2 million of interest income from portfolio investments, $2.6 million of payment-in-kind (“PIK”) interest income, $3.6 million of fee income and $0.3 million of dividend income. Total investment income increased by $9.2 million as compared to the quarter ended June 30, 2020, primarily driven by higher make-whole interest income, OID acceleration and prepayment fees resulting from exits of investments.

Total investment income for the year ended September 30, 2020 was $143.1 million and included $125.6 million of interest income from portfolio investments, $7.9 million of PIK interest income, $8.5 million of fee income and $1.2 million of dividend income. Total investment income decreased by $4.6 million as compared to the year ended September 30, 2019, primarily driven by lower LIBOR and lower OID income, partially offset by higher make-whole interest income and prepayment fees resulting from exits of investments, a larger average investment portfolio and higher yields on new originations.

Net expenses for the quarter totaled $19.1 million, up $1.4 million from the quarter ended June 30, 2020. The increase in net expenses was primarily due to higher incentive fees resulting from higher investment income, partially offset by interest expense savings from lower LIBOR.

Net expenses for the year totaled $71.1 million, down $8.7 million from the year ended September 30, 2019. The decrease in net expenses was primarily due to interest expense savings from the issuance of the 2025 Notes in February 2020 and subsequent repayment of the 2024 Notes and 2028 Notes in March 2020 as well as lower LIBOR and lower incentive fees (net of waivers).

Adjusted net investment income was $24.5 million ($0.17 per share) for the quarter ended September 30, 2020, up from $16.8 million ($0.12 per share) for the quarter ended June 30, 2020, primarily driven by higher investment income.

Adjusted net investment income was $71.6 million ($0.51 per share) for the full fiscal year of 2020, as compared with $69.0 million ($0.49 per share) for the full fiscal year of 2019. The increase in adjusted net investment income for the full year was primarily driven by interest expense savings from the issuance of the 2025 Notes in February 2020 and subsequent repayment of the 2024 Notes and 2028 Notes in March 2020 and lower LIBOR, partially offset by lower investment income.

Net realized and unrealized gains, net of taxes, were $46.1 million for the quarter and were primarily attributable to unrealized gains resulting from price increases on liquid debt investments, the impact of tighter credit spreads on private debt investment valuations following the improvement in broader credit market conditions and realized gains on equity investments. Net realized and unrealized losses, net of taxes, were $32.8 million for the year, primarily driven by unrealized depreciation of certain debt and equity investments related to increased market volatility resulting from the onset of the COVID-19 pandemic in March 2020.

Portfolio and Investment A
ctivity

		As of
($ in thousands)		September 30, 2020 (unaudited)				June 30, 2020 (unaudited)				September 30, 2019 (unaudited)
Investments at fair value		$	1,573,851			$	1,561,153			$	1,438,042
Number of portfolio companies		113				119				104
Average portfolio company debt size		$	15,800			$	14,600			$	15,300
Asset class:
Senior secured debt		84.1		%		80.9		%		78.6		%
Unsecured debt		4.2		%		7.2		%		5.7		%
Equity		4.1		%		4.7		%		6.7		%
SLF JV I		7.5		%		7.0		%		8.8		%
Limited partnership interests		0.2		%		0.2		%		0.2		%
Non-accrual debt investments:
Non-accrual investments at fair value		$	1,571			$	2,497			$	2,706
Non-accrual investments as a percentage of debt investments		0.1		%		0.2		%		0.2		%
Number of investments on non-accrual		2				3				3
Interest rate type:
Percentage floating-rate		88.3		%		86.2		%		89.8		%
Percentage fixed-rate		11.7		%		13.8		%		10.2		%
Yields:
Weighted average yield on debt investments1		8.3		%		8.1		%		8.9		%
Cash component of weighted average yield on debt investments		7.0		%		6.9		%		8.1		%
Weighted average yield on total portfolio investments2		7.8		%		7.6		%		8.2		%
Investment activity:
New investment commitments		$	148,500			$	260,500			$	138,400
New funded investment activity3		$	146,300			$	198,500			$	128,500
Proceeds from prepayments, exits, other paydowns and sales		$	184,200			$	127,800			$	139,000
Net new investments4		$	(37,900	)		$	70,700			$	(10,500	)
Number of new investment commitments in new portfolio companies		8				10				5
Number of new investment commitments in existing portfolio companies		3				8				4
Number of portfolio company exits		12				19				7

______________________
^{1 Annual stated yield earned plus net annual amortization of OID or premium earned on accruing investments, including the Company’s share of the return on debt investments in the SLF JV I.
2 Annual stated yield earned plus net annual amortization of OID or premium earned on accruing investments and dividend income, including the Company’s share of the return on debt investments in the SLF JV I.
3 New funded investment activity includes drawdowns on existing revolver and delayed draw term loan commitments.
4 Net new investments consists of new funded investment activity less proceeds from prepayments, exits, other paydowns and sales.}

As of September 30, 2020, the fair value of the investment portfolio was $1.6 billion and was composed of investments in 113 companies. These included debt investments in 88 companies, equity investments in 35 companies, including our limited partnership interests in two private equity funds, and the Company’s investment in Senior Loan Fund JV I, LLC (“SLF JV I”). 11 of the equity investments were in companies in which the Company also had a debt investment.

As of September 30, 2020, 94.3% of the Company’s portfolio at fair value consisted of debt investments, including 62.3% of first lien loans, 21.7% of second lien loans and 10.3% of unsecured debt investments, including the debt investments in SLF JV I. This compared to 61.3% of first lien loans, 19.6% of second lien loans and 13.3% of unsecured debt investments, including the debt investments in SLF JV I at fair value as of June 30, 2020.

As of September 30, 2020, there were two investments on non-accrual status, which represented 1.2% of the debt portfolio at cost and 0.1% at fair value. During the quarter ended September 30, 2020, one investment was removed from non-accrual status following a restructuring.

The Company’s investments in SLF JV I totaled $117.4 million at fair value as of September 30, 2020, up 7% from $110.0 million as of June 30, 2020. The increase in the value of the Company’s investments in SLF JV I was primarily driven by SLF JV I’s use of leverage and unrealized appreciation in the underlying investment portfolio resulting from the improvement in broader credit market conditions during the quarter.

As of September 30, 2020, SLF JV I had $313.5 million in assets, including senior secured loans to 56 portfolio companies. This compared to $315.4 million in assets, including senior secured loans to 53 portfolio companies, as of June 30, 2020. As of September 30, 2020, one investment held by SLF JV I was on non-accrual status, which represented 0.7% of the SLF JV I portfolio at cost and 0.4% at fair value, respectively. SLF JV I generated income of $1.8 million for the Company during the quarter ended September 30, 2020, down slightly as compared to $2.0 million in the prior quarter. As of September 30, 2020, SLF JV I had $82.1 million of undrawn capacity (subject to borrowing base and other limitations) on its $250 million senior revolving credit facility, and its debt to equity ratio was 1.3x.

Liquidity and Capital Resources

As of September 30, 2020, the Company had total principal value of debt outstanding of $714.8 million, including $414.8 million of outstanding borrowings under the revolving credit facility and $300.0 million of the 2025 Notes. The funding mix was composed of 58% secured and 42% unsecured borrowings as of September 30, 2020. The Company has no near-term debt maturities, as the next scheduled maturity is for the revolving credit facility in February 2024. The Company was in compliance with all financial covenants under its credit facility as of September 30, 2020.

As of September 30, 2020, the Company had $39.1 million of unrestricted cash and cash equivalents and $285.2 million of undrawn capacity on its credit facility (subject to borrowing base and other limitations). Unfunded investment commitments were $157.5 million as of September 30, 2020, with approximately $94.0 million that can be drawn immediately as the remaining amount is subject to certain milestones that must be met by portfolio companies. The Company has analyzed cash and cash equivalents, availability under our credit facility, the ability to rotate out of certain assets and amounts of unfunded commitments that could be drawn and believe our liquidity and capital resources are sufficient to take advantage of market opportunities in the current economic climate.

As of September 30, 2020, the weighted average interest rate on debt outstanding was 2.7%, unchanged as compared to 2.7% as of June 30, 2020.

The Company’s total debt to equity ratio was 0.78x and 0.89x as of September 30, 2020 and June 30, 2020, respectively. Net debt to equity ratio was 0.74x and 0.83x as of September 30, 2020 and June 30, 2020, respectively.

Recent Developments

Merger Agreement

On October 28, 2020, the Company entered into an agreement to merge with Oaktree Strategic Income Corporation (“OCSI”), an affiliated business development company managed by Oaktree Fund Advisors, LLC, with the Company as the surviving company. Under the terms of the proposed merger, OCSI shareholders will receive an amount of shares of the Company’s common stock with a NAV equal to the NAV of shares of OCSI common stock that they hold at the time of closing. The transaction is subject to approval by OCSI and the Company’s stockholders and other customary closing conditions. Assuming these conditions are satisfied, the transaction is expected to close in the first calendar quarter of 2021.

Management F
ee Waiver

In connection with entry into the merger agreement described above, Oaktree has agreed to waive $750,000 of base management fees payable to it under the Investment Advisory Agreement in each of the eight quarters immediately following the closing of the transaction (for an aggregate waiver of $6.0 million of base management fees).

Upsize of Credit Facility

On October 28, 2020, the Company entered into an incremental commitment and assumption agreement in connection with the Company’s exercise of $75 million of the accordion feature under its credit facility, increasing the size of the credit facility to $775 million.

Non-GAAP Financial Measures

Adjusted Net Investment Income

On a supplemental basis, the Company is disclosing adjusted net investment income and per share adjusted net investment income, each of which is a financial measure that is calculated and presented on a basis of methodology other than in accordance with U.S. GAAP (“non-GAAP”). Adjusted net investment income represents net investment income, excluding capital gains incentive fees (“Part II incentive fee”). The Company’s management uses this non-GAAP financial measure internally to analyze and evaluate financial results and performance and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company without giving effect to capital gains incentive fees. The Company’s investment advisory agreement provides that a capital gains-based incentive fee is determined and paid annually with respect to realized capital gains (but not unrealized capital appreciation) to the extent such realized capital gains exceed realized capital losses and unrealized capital depreciation on a cumulative basis. Refer to Note 11 – Related Party Transactions in our Annual Report on Form 10-K for further discussion. The Company believes that adjusted net investment income is a useful performance measure because it reflects the net investment income produced on the Company’s investments during a period without giving effect to any changes in the value of such investments and any related capital gains incentive fees between periods. The presentation of adjusted net investment income is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

The following table provides a reconciliation of net investment income (the most comparable U.S. GAAP measure) to adjusted net investment income for the periods presented:

		For the three months ended																								For the year ended
		September 30, 2020 (unaudited)								June 30, 2020 (unaudited)								September 30, 2019 (unaudited)								September 30, 2020									September 30, 2019
($ in thousands, except per share data)		Amount				Per Share				Amount				Per Share				Amount				Per Share				Amount					Per Share				Amount				Per Share
GAAP net investment income		$	24,545			$	0.17			$	16,770			$	0.12			$	16,275			$	0.12			$	71,992				$	0.51			$	67,909			$	0.48
Part II incentive fee (net of waivers)		—				—				—				—				438				—				(357		)			—				1,123				0.01
Adjusted net investment income		$	24,545			$	0.17			$	16,770			$	0.12			$	16,713			$	0.12			$	71,635				$	0.51			$	69,032			$	0.49

Conference Call Information

Oaktree Specialty Lending will host a conference call to discuss its fourth fiscal quarter and full year 2020 results at 11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time on November 19, 2020. The conference call may be accessed by dialing (877) 507-3275 (U.S. callers) or +1 (412) 317-5238 (non-U.S. callers), participant password “Oaktree Specialty Lending.” Alternatively, a live webcast of the conference call can be accessed on Oaktree Specialty Lending’s website, www.oaktreespecialtylending.com. During the conference call, the Company intends to refer to an investor presentation that will be available on its website.

For those individuals unable to listen to the live broadcast of the conference call, a replay will be available on Oaktree Specialty Lending’s website, or by dialing (877) 344-7529 (U.S. callers) or +1 (412) 317-0088 (non-U.S. callers), access code 10148621, beginning approximately one hour after the broadcast.

About Oaktree Specialty Lending Corporation

Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is a specialty finance company dedicated to providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The Company’s investment objective is to generate current income and capital appreciation by providing companies with flexible and innovative financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity. The Company is regulated as a business development company under the Investment Company Act of 1940, as amended, and is externally managed by Oaktree Fund Advisors, LLC, an affiliate of Oaktree Capital Management, L.P. For additional information, please visit Oaktree Specialty Lending’s website at www.oaktreespecialtylending.com.

Forw
ard-Looking Statements

Some of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial condition or the two-step merger of OCSI with and into the Company (the “Mergers”). The forward-looking statements may include statements as to: future operating results of OCSI and the Company and distribution projections; business prospects of OCSI and the Company and the prospects of their portfolio companies; and the impact of the investments that OCSI and the Company expect to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with (i) the timing or likelihood of the Mergers closing; (ii) the expected synergies and savings associated with the Mergers; (iii) the ability to realize the anticipated benefits of the Mergers, including the expected elimination of certain expenses and costs due to the Mergers; (iv) the percentage of OCSI and the Company’s stockholders voting in favor of the proposals submitted for their approval; (v) the possibility that competing offers or acquisition proposals will be made; (vi) the possibility that any or all of the various conditions to the consummation of the Mergers may not be satisfied or waived; (vii) risks related to diverting management’s attention from ongoing business operations; (viii) the risk that stockholder litigation in connection with the Mergers may result in significant costs of defense and liability; (ix) changes in the economy, financial markets and political environment, (x) risks associated with possible disruption in the operations of OCSI and the Company or the economy generally due to terrorism, natural disasters or the COVID-19 pandemic; (xi) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); (xii) conditions in OCSI’s and the Company’s operating areas, particularly with respect to business development companies or regulated investment companies; (xiii) general considerations associated with the COVID-19 pandemic; and (xiv) other considerations that may be disclosed from time to time in OCSI’s and the Company’s publicly disseminated documents and filings. OCSI and the Company have based the forward-looking statements included in this press release on information available to them on the date of this press release, and they assume no obligation to update any such forward-looking statements. Although OCSI and the Company undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that they may make directly to you or through reports that OCSI and the Company in the future may file with the Securities and Exchange Commission, including a registration statement on Form N-14 that the Company will file in connection with the Mergers, a joint proxy statement on Schedule 14A that the OCSI and the Company will file in connection with the Mergers, annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

Contacts

Investor Relations:
Oaktree Specialty Lending Corporation
Michael Mosticchio
(212) 284-1900
[email protected] 

Media Relations:
Financial Profiles, Inc.
Moira Conlon
(310) 478-2700
[email protected] 

Oaktree Specialty Lending Corporation

Consolidated
Statements of Assets and Liabilities

(in thousands, except per share amounts)

	September 30, 2020					June 30, 2020 (unaudited)					September 30, 2019
ASSETS
Investments at fair value:
Control investments (cost September 30, 2020: $245,950; cost June 30, 2020: $255,481; cost September 30, 2019: $224,255)	$	201,385				$	200,799				$	209,178
Affiliate investments (cost September 30, 2020: $7,551; cost June 30, 2020: $8,367; cost September 30, 2019: $8,449)	6,509					7,249					9,170
Non-control/Non-affiliate investments (cost September 30, 2020: $1,415,669; cost June 30, 2020: $1,432,729; cost September 30, 2019: $1,280,310)	1,365,957					1,353,105					1,219,694
Total investments at fair value (cost September 30, 2020: $1,669,170; cost June 30, 2020: $1,696,577; cost September 30, 2019: $1,513,014)	1,573,851					1,561,153					1,438,042
Cash and cash equivalents	39,096					50,728					15,406
Interest, dividends and fees receivable	6,935					8,768					11,167
Due from portfolio companies	2,725					2,719					2,616
Receivables from unsettled transactions	9,123					14,106					4,586
Deferred financing costs	5,947					6,383					6,396
Deferred offering costs	67					67					—
Deferred tax asset, net	847					766					—
Derivative assets at fair value	223					870					490
Other assets	1,898					2,007					2,335
Total assets	$	1,640,712				$	1,647,567				$	1,481,038
LIABILITIES AND NET ASSETS
Liabilities:
Accounts payable, accrued expenses and other liabilities	$	1,072				$	903				$	1,589
Base management fee and incentive fee payable	11,212					12,989					10,167
Due to affiliate	2,130					2,213					2,689
Interest payable	1,626					4,225					2,296
Payables from unsettled transactions	478					7,172					59,596
Deferred tax liability	—					—					704
Credit facility payable	414,825					466,825					314,825
Unsecured notes payable (net of $3,272, $3,457 and $2,708 of unamortized financing costs as of September 30, 2020, June 30, 2020 and September 30, 2019, respectively)	294,490					294,177					158,542
Total liabilities	725,833					788,504					550,408
Commitments and contingencies
Net assets:
Common stock, $0.01 par value per share, 250,000 shares authorized; 140,961 shares issued and outstanding as of September 30, 2020, June 30, 2020 and September 30, 2019	1,409					1,409					1,409
Additional paid-in-capital	1,487,774					1,487,774					1,487,774
Accumulated overdistributed earnings	(574,304		)			(630,120		)			(558,553		)
Total net assets (equivalent to $6.49, $6.09 and $6.60 per common share as of September 30, 2020, June 30, 2020 and September 30, 2019, re spectively)	914,879					859,063					930,630
Total liabilities and net assets	$	1,640,712				$	1,647,567				$	1,481,038

Oaktree Specialty Lending Corporation

Consolidated Statements of Operations

(in thousands, except per share amounts)

	Three months ended September 30, 2020 (unaudited)					Three months ended June 30, 2020 (unaudited)					Three months ended September 30, 2019 (unaudited)					Year ended September 30, 2020					Year ended September 30, 2019
Interest income:
Control investments	$	2,330				$	2,558				$	2,836				$	9,832				$	11,886
Affiliate investments	88					127					101					467					206
Non-control/Non-affiliate investments	34,733					27,406					27,640					114,947					120,888
Interest on cash and cash equivalents	2					21					85					322					690
Total interest income	37,153					30,112					30,662					125,568					133,670
PIK interest income:
Control investments	—					—					—					—					67
Non-control/Non-affiliate investments	2,573					2,183					1,187					7,863					5,430
Total PIK interest income	2,573					2,183					1,187					7,863					5,497
Fee income:
Control investments	15					13					6					42					25
Affiliate investments	5					5					5					20					19
Non-control/Non-affiliate investments	3,551					1,809					2,539					8,457					6,666
Total fee income	3,571					1,827					2,550					8,519					6,710
Dividend income:
Control investments	299					281					114					1,180					1,825
Non-control/Non-affiliate investments	3					—					—					3					—
Total dividend income	302					281					114					1,183					1,825
Total investment income	43,599					34,403					34,513					143,133					147,702
Expenses:
Base management fee	6,005					5,988					5,496					22,895					22,343
Part I incentive fee	5,206					3,556					3,545					15,194					14,873
Part II incentive fee	—					—					(403		)			(5,557		)			10,194
Professional fees	678					545					720					2,532					2,906
Directors fees	142					143					142					570					570
Interest expense	6,133					6,406					6,960					26,289					32,426
Administrator expense	330					373					388					1,524					1,941
General and administrative expenses	560					622					549					2,494					2,530
Total expenses	19,054					17,633					17,397					65,941					87,783
Reversal of fees waived / (fees waived)	—					—					841					5,200					(7,990		)
Net expenses	19,054					17,633					18,238					71,141					79,793
Net investment income	2 4,545					16,770					16,275					71,992					67,909
Unrealized appreciation (depreciation):
Control investments	10,117					13,790					52					(29,488		)			1,519
Affiliate investments	76					(45		)			(179		)			(1,763		)			(360		)
Non-control/Non-affiliate investments	29,922					87,225					2,621					10,904					39,689
Secured borrowings	—					—					(2,624		)			—					(2,719		)
Foreign currency forward contracts	(647		)			(398		)			695					(267		)			328
Net unrealized appreciation (depreciation)	39,468					100,572					565					(20,614		)			38,457
Realized gains (losses) :
Control investments	(4,932		)			—					—					(4,155		)			—
Non-control/Non-affiliate investments	13,502					2,821					(6,248		)			(4,615		)			15,300
Extinguishment of unsecured notes payable	—					—					—					(2,541		)			—
Secured borrowings	—					—					2,625					—					2,625
Foreign currency forward contracts	(2,123		)			—					1,097					(2,613		)			2,880
Net realized gains (losses)	6,447					2,821					(2,526		)			(13,924		)			20,805
Provision for income ta x (expense) benefit	157					68					(343		)			1,770					(1,011		)
Net realized and unrealized gains (losses), net of taxes	46,072					103,461					(2,304		)			(32,768		)			58,251
Net increase (decrease) in net assets resulting from operations	$	70,617				$	120,231				$	13,971				$	39,224				$	126,160
Net investment income per common share — basic and diluted	$	0.17				$	0.12				$	0.12				$	0.51				$	0.48
Earnings (loss) per common share — basic and diluted	$	0.50				$	0.85				$	0.10				$	0.28				$	0.89
Weighted average common shares outstanding — basic and diluted	140,961					140,961					140,961					140,961					140,961

– Company completes production of 1,200
FDA-cleared
WellnessPro
+ devices

– Inventory build
completed
ahead of on-boarding new medical practitioners and distributors

– Demand driven by pain sufferers
desiring
non-invasive alternatives

SCOTTSDALE, Ariz., Nov. 19, 2020 (GLOBE NEWSWIRE) — Electromedical Technologies, Inc. (OTCQB: EMED) (the “Company”), a pioneer in the development and manufacturing of bioelectronic devices, including the FDA cleared WellnessPro+, designed to relieve chronic, intractable and acute pains by using frequencies and electro-modulation, is pleased to announce that the company has completed the production of over 1,200 units of its FDA cleared WellnessPro+ device, representing approximately $4.2 million of inventory to meet demand.

The Company began production in September and has fully paid for and completed its first phase of inventory buildup in order to meet rising demand as we transition into 2021. We want to make sure that we do not run out of inventory which occurred in the first quarter of this year.

Matthew Wolfson, Founder and CEO of EMED, commented, “Every day more doctors and patients are realizing the importance of using methods that will have a positive effect in reducing pain without having negative effects on the immune system, especially in today’s pandemic environment. The reason for the increase in demand is that more and more people are realizing that there are other powerful treatment options such as bioelectronics, that does not include injections, invasive procedures or opioids that have the possibility of harmful side effects such as addiction and death.”

Commenting further, Mr. Wolfson said, “This inventory increase fits perfectly with our strategic plan of engaging and onboarding hundreds of new medical practitioners and distributors. In today’s economic environment, many people are seeking to create new revenue streams for their families. We have a way to help thousands of people to live a better quality of life, pain free and addiction free and at the same time provide a real income opportunity for anyone who wishes to join our brand ambassador team.” (https://electromedtech.com/register/)

Finally commenting, Mr. Wolfson said, “In the world we live in today, people cannot afford the risks associated with opioid-based drugs, but they need results. Word of mouth has been a very valuable marketing tool because our device delivers a powerful solution to chronic pain without any dangerous or harmful side effects. The Wellness Pro produces real results so people can live pain free and get their lives back!”

About Electromedical Technologies

Headquartered in Scottsdale Arizona, Electromedical Technologies, Inc. is a commercial stage, FDA cleared, bioelectronic medical device manufacturing company initially focused on the treatment of various chronic, acute, intractable, and post-operative pain conditions. Through university collaboration agreements the company is working to develop a comprehensive research program in defining the effects of electro-modulation on the human body by studying the impacts of electrical fields in cell signaling and effects on virus assembly and immune responses with the goal of improving human wellbeing. The company’s current cleared product indications are for chronic acute post traumatic and post-operative, intractable pain relief.

Our animal studies do not involve any human testing, and are not related to our current products. We are conducting this research to augment and advance the science of electro-modulation in healthcare. The United States Food and Drug Administration has not reviewed or approved our animal research studies.

For more information, visit www.electromedtech.com.

Safe Harbor Statement

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Corporate Contact:

Electromedical Technologies, Inc.
Matthew Wolfson
Tel: 1.888.880.7888
email: [email protected]
https://electromedtech.com

VANCOUVER, British Columbia, Nov. 19, 2020 (GLOBE NEWSWIRE) — Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement and automated venue tracing to the brick and mortar space, is pleased to announce the signing of a referral and partnership agreement with iSTOC Ltd. of Finland to provide a complete end-to-end integrated COVID-19 management platform consisting of rapid mobile testing, integrated lab results, and venue tracing with real-time, automated exposure alert notification capabilities.

The combined solution arising from this partnership will create a Covid-19 tracing and testing solution that is FDA and HIPPAA compliant and can be deployed by any government, NGO, healthcare organization or enterprise-level organization worldwide.  

Loop Insights CEO Rob Anson stated: “I am very honoured for the opportunity to partner with Jarmo and his world-class team at iSTOC. These have been very trying times, and as we head into the fall-winter months, every country is in desperate need of a complete transformative solution that enables the resumption of in-person schooling, travel, commerce, and a return of spectators to live events. This is a very big day for the Company as our partnership with iSTOC positions us as a true global leader regarding complete Covid-19 management solutions.”

iSTOC WILL HAVE FACILITATED MILLIONS OF TESTS IN AT LEAST 50 COUNTRIES BY 2020 END




iSTOC has developed a disruptive mobile solution called IDA (immediate diagnostics and analytics) and has launched rapid tests that can detect antibodies for different infectious diseases from a small drop of blood, plus a mobile diagnostics solution for analyzing the test results, as well as, geographical mapping capabilities for the spread of infectious diseases such as Covid-19. The globally scalable end-to-end solution has proven to be a powerful product and service, offering significant and innovative new business opportunities for iSTOC business partners and customers.

The IDA Platform digitalizes and analyses lateral flow tests (LFTs), including all major infectious diseases. Unlike PCR tests, LFTs detect the antibodies for diseases like Covid-19, which means that LFTs do not show early acute infections but can detect infections beyond the first 14 days of the infection, after which PCR is ineffective.

All diagnostics are performed using smartphone cameras, making it possible to deliver on three important diagnostic criteria: high quality, accessibility even in the most remote locations, and affordability in countries with lower income and high out of pocket costs.

iSTOC has facilitated millions of tests in over 25 countries and expects to be present in at least twice as many countries by the end of 2020.

LOOP AND iSTOC DELIVER FDA AND HIPPAA COMPLIANT INTEGRATED COVID-19 MANAGEMENT SOLUTION 

The companies have partnered to deliver a fully compliant solution with both FDA and European regulations and is also HIPAA compliant. Loop’s AI-powered data platform and iSTOC’s front end testing application will integrate to deliver a turn-key end-to-end Covid-19 management solution.  

Leveraging Loop’s Anonymized Digital ID and Digital Wallet Application and iSTOC’s leading testing and mobile telemedicine application, the combined solution will provide a complete product offering with safety and data security protecting all personally identifiable information. iSTOC’s real-time dashboard decisioning leverages “big data” to enable comprehensive review and ensure safer environments such as venues and workplaces.

PARTNERSHIP PROVIDES LOOP THE ABILITY TO ADDRESS GLOBAL OPPORTUNITIES

On October 29th, Loop Insights and Amazon Web Services (AWS) hosted a webinar to showcase the Company’s Venue Tracing Solution to a global audience of hospitality businesses that resulted in 1,000 attendees from industries including but not limited to:

• Hotels
• Airlines
• Venue Owners
• Sports & Entertainment Organizations

The Company has been engaged in several discussions with global hospitality companies in search of a solution to enable the safe resumption of their operations and ensure their long-term viability and sustainability.

As a result of the partnership with iSTOC, Loop Insights now can offer rapid test and lab results to any organization searching for a complete end-to-end Covid-19 solution across Europe and dozens of other countries where iSTOC has existing adoption and service contracts. The combined product offering featuring Loop’s end-to-end solution will focus on large scale government opportunities, hospitals, stadiums, long-term care facilities, construction sites, HR administration, campuses, airlines, cruise ships, resorts, and government and corporate buildings that need to safely reopen and resume operations.

iSTOC’s CEO, Jarmo Järvenpää stated, “Loop Insights’ venue tracing platform is the perfect complement to our best-in-class immediate diagnostics and analytics of infectious disease application. For the first time, a combined product and service offering will enable a complete end to end management solution.”

LOOP IN DISCUSSIONS WITH CRUISE INDUSTRY AS CARNIVAL POSTS $3 BILLION QUARTERLY LOSS DUE TO COVID-19 

According to Guardian.com, Carnival reported a $3B quarterly loss due to the Covid-19 pandemic. With airlines as the first industry adopting rapid testing to reduce or eliminate the need for 14-day quarantine periods, the cruise industry is looking to embrace and adopt technologies that can allow them to safely reopen with contact tracing and best of breed protocols and processes for contactless solutions in order for their economic recovery to begin. To date, Loop has been actively involved in many conversations with not only airports and airlines but the cruise industry as well. The Company believes as a result of the partnership with iSTOC, the Company is well-positioned to deliver the complete end to end solution to enable the cruise industry to reopen its operations and instill confidence in travellers safely. 

This press release is available on the Loop Insights Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/LoopInsights

About iSTOC:

iSTOC is a Finland-based health-tech company that operates globally and is a preferred vendor for several health organizations. iSTOC integrates Point of Care diagnostics, machine vision, mobile technology and cloud computing into one reliable platform. iSTOC has developed a disruptive mobile solution IDA (immediate diagnostics and analytics). The end-to end solution has proven to be a powerful product and service, offering significant and innovative new business opportunities for iSTOC partners and customers around the world. iSTOC IDA Platform digitalizes and analyses lateral flow tests (LFT), including all major infectious diseases as well as blood typing, female and reproductive health and drugs of abuse. More information about iSTOC in the company webpage https://istoc.io/

About Loop Insights:
Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.

For more information, please contact:
Loop Insights Inc.		LOOP Website: www.loopinsights.ai
Rob Anson, CEO		Facebook: @LoopInsights
T: +1 877-754-5336 Ext. 4		Twitter: @LoopInsights
E: [email protected]		LinkedIn: @LoopInsights

Forward-Looking Statements/Information:
 

This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

SAN JOSE, Calif., Nov. 19, 2020 (GLOBE NEWSWIRE) — OpsRamp, a modern SaaS platform for hybrid infrastructure monitoring, event management, and automation, today announces its Fall 2020 Release. The latest release delivers a frictionless user experience with rapid onboarding of cloud infrastructure, curated dashboards, expanded support for containerized applications, and new process automation functionality.

Highlights of The OpsRamp Fall 2020 Release:

• Faster time to value for IT and cloud operations with seamless onboarding of cloud and cloud-native resources;
• Transformed user experience enabling IT organizations to demonstrate business value with sophisticated dashboards and relevant metrics;
• Expansion of IT automation resulting in time and cost savings and faster resolution;

Key Features:

I. Discovery and Monitoring: The OpsRamp Fall 2020 Release brings a brand new user interface and rapid onboarding, helping IT professionals get immediate visibility into their hybrid IT environments.

• UX Redesign: The OpsRamp platform delivers a transformed user experience to reduce manual configuration efforts and deliver faster time to metrics for IT operations teams. It features a new Onboarding Wizard which eliminates the need for users to individually add cloud infrastructure resources and configure metrics for monitoring. Users can complete their entire onboarding in no time as it takes only a few simple steps for OpsRamp to discover and monitor resources. Auto monitoring is currently available for the following technologies:

• AWS, Azure, and Google Cloud services
• Kubernetes resources (including Openshift and K3s)
• Linux agent-based resources (RHEL, SUSE, Oracle Linux, Amazon Linux)

• Curated Dashboards: Auto monitoring includes the creation of dashboards, which comes in a brand-new interface and is built on a new dashboarding model based on the Prometheus Query Language (PromQL). IT pros no longer have to spend time creating and configuring dashboards. They can also quickly build new custom dashboards from scratch or modify dashboards by editing each tile.

• Expanded Container and Cloud Monitoring Support: OpsRamp is extending its cloud native monitoring capabilities to support the detection and monitoring of applications running in containerized workloads. Kubernetes administrators can gain deeper performance insights into the services supporting their business applications. Over 25 different applications are auto-detectable including Cassandra, Kafka, MongoDB, and MySQL. OpsRamp’s public cloud monitoring has also been extended to support AWS ECS, Azure Functions, Azure Hyperscale (PostgreSQL), and Azure SQL Managed Instance.

II. Remediation & Automation: The OpsRamp Fall 2020 Release introduces powerful new IT process automation capabilities to save time and improve governance for event and incident management. Process automation helps execute a sequence of automation tasks, where workflows can be triggered by alerts, on updates to resources, or on a recurring schedule.

• Human interaction for automated workflows: IT operators can now add human interaction user tasks, such as requesting manager approval to take an action, into an automated process. This ensures the right actions are taken to resolve an issue, where risks are assessed, and costly errors are avoided which can lead to larger problems.

• Automation Workflow Auto-Suggestions: OpsRamp’s OpsQ bot now recommends automation workflows that can assist in faster troubleshooting, diagnostics, and remediation actions. Users can enable first-response policies that leverage machine learning models for recommending which automation workflows to use, thereby significantly reducing mean-time-to-resolution.

• Workflow management: OpsRamp offers end-t0-end visibility into automation workflows and associated tasks so that users can proactively monitor and troubleshoot issues that arise during production. Users can also use workflow management for auditing and compliance purposes, as a record of what took place, when and by whom.

“Our customers ask HPE to manage their very complex hybrid and multi-cloud environments,” says James McAnally, Vice President, HPE GreenLake Managed Services. “They need a simpler, streamlined way to see health metrics for their apps and resources in one place and they need process automation to be efficient.   HPE GreenLake Management Services welcomes OpsRamp’s latest release which gives time and control back to IT pros at a time when performance is survival.”

“A brand new user experience in the OpsRamp Fall 2020 Release will empower IT operations teams to work smartly and efficiently as well as deliver resilient technology services for their end-users,” says Ciaran Byrne, VP of Product Management at OpsRamp. “Enterprises have ramped up investments in the public cloud during 2020 to be cost efficient and more agile during a recession. With our new capabilities for cloud monitoring and process automation, CIOs can focus on post-pandemic recovery efforts.”

About OpsRamp

OpsRamp is an IT operations management software company whose SaaS platform is used by enterprise IT teams to monitor and manage their cloud and on-premises infrastructure. Key capabilities of the OpsRamp platform include: hybrid infrastructure discovery and monitoring, event and incident management, and remediation and automation, all of which are powered by artificial intelligence. OpsRamp investors include Sapphire Ventures, Morgan Stanley Expansion Capital and HPE. For more information, visit www.opsramp.com.

• Learn about OpsRamp partners and our partner program.
• Visit the OpsRamp Newsroom for all media coverage and press releases.
• Visit the OpsRamp Blog.
• OpsRamp on Twitter: https://twitter.com/OpsRamp
• OpsRamp on LinkedIn: https://www.linkedin.com/company/opsramp

Media contact:
Kevin Wolf
TGPR
(650) 483-1552
[email protected]

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/c53f9166-1581-4749-a292-562b2fb0af3f

https://www.globenewswire.com/NewsRoom/AttachmentNg/f4f74d82-6431-4a4c-b30d-6cceb5da8f52

DONGGUAN, China, Nov. 19, 2020 (GLOBE NEWSWIRE) — Dogness International Corporation (“Dogness” or the “Company”) (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, announced an expansion of its sales activities at Costco Wholesale Corporation (“Costco”), with both in-store and online special events to promote the high quality, Dogness smart pet product line.

Silong Chen, Chairman and Chief Executive Officer of Dogness, commented, “Costco embodies our commitment to innovation, product excellence and to providing customers with value and happiness. As one of the world’s most dominant retailers – both online and in its warehouse clubs – securing an expanded presence at Costco can significantly enhance our brand awareness and meaningfully drive sales. We have been active in the greater Dallas region, where our U.S. operations are headquartered, and now plan to expand to Costco online in 1Q 2021. This will put us in front of an estimated 40 million members with new promotional opportunities to help drive sales of our smart pet product line. We are also on track to expand our in-store special events to two additional warehouse clubs in December, with a goal of expanding into more warehouse clubs in the first half of 2021. We have a unique position as one of, if not the only, smart pet product lines being made available to Costco’s members, which is a testament to the high-quality, innovative and durable pet products Dogness is known for.”  

About Dogness

Dogness (International) Corporation was born in 2003 from the belief that pet dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness is able to simplify pet lifestyles, make them more scientific, and enhance the relationship between pets and pet caregivers. The Company ensures industry-leading quality through its fully integrated vertical supply chain and world-class research and development capabilities, which has resulted in over 200 patents and patents pending. Dogness products reach families worldwide through global chain stores and distributors. For more information, please visit: ir.dogness.com.

Forward Looking Statements

No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the “safe harbor” under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding our ability to raise capital on any particular terms, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

For more information, please contact Investor Relations:

Global IR Partners
David Pasquale
New York Office Phone: +1-914-337-8801
[email protected]

San Francisco, Nov. 19, 2020 (GLOBE NEWSWIRE) — The Sustainability Accounting Standards Board (SASB) today announced that French, German, Japanese, and Spanish translations are now available for the SASB Standards Application Guidance and Implementation Primer. French, German, Japanese, and Spanish translations of SASB’s 77 industry Standards are expected to be published in early 2021, with translations into additional languages also planned for next year.

“Amidst growing international use of SASB Standards, it is a high priority for us to deliver translated standards and implementation guidance to the markets as soon as possible,” says SASB CEO Janine Guillot. “We aim to facilitate the disclosure of the relevant and reliable ESG information that global investors want and global markets need.”

Of the 454 companies who have reported SASB metrics year to date as of October 31, 2020, 42 percent are domiciled outside of the U.S. Corporate use of SASB Standards is growing rapidly: The number of corporate reporters YTD is a 288 percent increase from 2019 reporters.

“We are seeing increasing interest in understanding SASB Standards from our listed companies,” says Natsuho Torii, Deputy Secretary General, Sustainability Committee at JAPAN EXCHANGE GROUP (JPX). “SASB’s translations of its implementation guidance will facilitate the use of SASB Standards by our listed companies, who are eager to meet growing investor demand for financially material ESG data.”

Increasing corporate use of SASB Standards is propelled by increasing demand from global investors.181 institutional investors—representing $59T AUM and 21 countries—support SASB and/or use SASB Standards to inform their investment decision-making.

“As a global investor, we are pleased to see SASB translate its implementation guidance, with standards translations on the way, and hope these translations facilitate increasing use of SASB Standards by companies around the world,” says Dr. Steffen Hörter, Global Head of ESG Integration & Solutions at Allianz Global Investors and a member of the SASB Investor Advisory Group. “Corporates that manage and disclose financially material ESG factors are highly attractive for investors.”  

The Standards Application Guidance is a short technical document that provides guidance on standards conformance, reporting boundaries, reporting format, internal controls, and assurance. The Implementation Primer is a lengthier resource to assist companies in using SASB Standards. It includes guidance on embedding key topics and metrics into core management and reporting functions, deciding where to disclose, determining how to use SASB Standards alongside other standards and frameworks, and assessing materiality and readiness to report. Access the translated Standards Application Guidance in German, French, Japanese, and Spanish, and access the Implementation Primer in German, French, Japanese, and Spanish.

About SASB

SASB connects businesses and investors on the financial impacts of sustainability. SASB Standards enable businesses around the world to identify, manage, and communicate financially material sustainability information to investors. SASB Standards are industry-specific and are designed to be decision-useful for investors and cost-effective for companies. They are developed using a process that is evidence based and market informed. To download any of the 77 industry-specific Standards, or learn more about SASB, please visit SASB.org. 

Taylor Fenske
Stern Strategy Group
[email protected]

Westport, CT, Nov. 19, 2020 (GLOBE NEWSWIRE) — (via NGO Wire) Experience Camps, a national nonprofit working to address childhood grief, today launched Talk About Grief (TAG), a campaign to help families cope with loss this holiday season. The campaign begins on Children’s Grief Awareness Day, a time designed to raise awareness of this serious issue and ensure that grieving children receive the support they need. 

“Grief can be isolating, particularly for children,” said Sara Deren, CEO of Experience Camps.  “COVID-19 is a bereavement multiplier, which has left more than two million grieving. Even in a more normal year, millions of people face an empty seat at their Thanksgiving table. By talking about grief, we can let children know they’re not alone. After more than 450,000 hours with grieving kids, our team can confidently report that connecting through our shared experiences helps us move through our grief.”

At least 2.1 million Americans are now grieving the death of a close relative due to COVID-19,   in addition to the millions who are bereaved in a typical year. Grief, even in childhood, may be more common than many people realize. One in five children experience a significant death by age 18. 7.2 percent of American children face the death of a parent or sibling. Grieving children  are especially vulnerable to a range of negative outcomes such as increased anxiety, depression, and risk of mortality from suicide and other factors, and fundamentally altered economic security — which research suggests is a particular risk for COVID-19 related deaths of a close relative. 

Talk About Grief invites people to listen to stories of grief, share their own experiences, and “tag” others to show that they care. TAG includes a discussion guide, social media content with the hashtag #TalkAboutGrief, and videos from celebrities talking about their personal grief experiences. Notable voices that have shared their stories of grief  include Oscar winner Cate Blanchett, multi-platinum singer and songwriter Andy Grammer, and former NFL Pro Bowler and America’s Got Talent finalist Jon Dorenbos conveying that people – particularly children – are not alone in their grief.

This holiday season, experts recommend talking about grief by simply inviting others to talk about the person who died. The best thing to do is simply to listen, allow for moments of silence, and don’t be afraid to say the wrong thing.  

“When a child experiences the death of someone important in their lives, it can shake their confidence in the world – and replace the joys of childhood with guilt, anxiety, regret and a sense of isolation, “said Deren. “When kids talk about grief, it can foster a positive sense of self and a healthy concept of death and loss. Sharing their story with someone else lets them know they are not alone.” 

“Parents have told us that their children’s mental health – and their own ─ is an even greater concern than their physical health during the pandemic. That insight helped inspire the Talk About Grief campaign,” said Brie Overton, Chief Clinical Officer, Experience Camps. “Some people worry that raising the topic of loss makes it worse. Actually, when we talk about grief, it can bring us together. 63% of the children we support said they have used their ‘grief skills’ to help others cope with the pandemic.”

“My son revisits grief at each developmental milestone, and we’ve found that the secret to surviving grief is to talk about it,” said Serra Falk Goldman, the mother of a child grieving the death of his father and sister. “Resilience is a muscle, and the more you exercise it, the stronger you get.”

Driven by Experience Camps, Talk About Grief campaign partners are promoting broad engagement. Listen First Project is promoting the TAG discussion guide, along with hundreds of partner organizations within the collaborative #WeavingCommunity campaign. The New York Life Foundation is supporting outreach to schools and partners nationwide. Thrive Global, The Shared Grief Project, Lantern,  Alex Cares and The Collective, also are supporting the TAG campaign.

While the need to Talk About Grief is ongoing, this year’s TAG campaign will culminate on December 4th, when Experience Camps will bring together the kids it serves for a virtual candle lighting ceremony, and encourage others to come together as a community, lighting a candle of hope during a season that holds both grief and light.

Details are available at www.experiencecamps.org/talkaboutgrief  

About Experience Camps

Experience Camps is a national nonprofit working to foster a more grief-smart culture and raise awareness of childhood grief as an issue that deserves attention. Experience Camps provides no-fee, camp and other programs for kids who have lost a parent, sibling or primary caregiver, and resources and advocacy to benefit many more. Since 2009, Experience Camps has empowered thousands of children with the confidence, skills and support to move forward with their lives. 

Contact:

Shayna Samuels
718-541-4785
[email protected]

LOS ALTOS, Calif., Nov. 19, 2020 (GLOBE NEWSWIRE) — vArmour, the leading provider of Application Relationship Management, today announced a growing presence in Canada, as the organization expands on a global scale. vArmour is building a robust engineering and support team in the region that will serve as a hub for the company’s focus on AI and ML, as it continues to provide word class application relationship management to enterprises across the globe.

“There is a wealth of technology and security talent based in Calgary,” said Jeff Jennings, SVP Engineering at vArmour. “vArmour is a data-first company, driving the need for deeper innovations in the AI and ML space. The development of this team in Canada is a major step as vArmour continues to expand its presence on a global scale, and allows us the opportunity to tap into enterprises and major financial institutions that make up the growing market in Canada.”

The decision to expand into Calgary was driven by the immense innovation and reputation of the region as an up-and-coming technology hub, specifically in the areas of AI and ML. Calgary Economic Development projects that Calgary businesses will spend nearly $7.5B on digital transformation between 2019 and 2022, representing a compound annual growth rate.

“Calgary is on the tech map. Companies from Silicon Valley are recognizing the talent developed here in Alberta and the value proposition we have to offer,” said Doug Schweitzer, Minister of Jobs, Economy and Innovation. “We are excited to see vArmour join the growing list of technology companies with a presence in Calgary. These fast-growing companies will accelerate our economic recovery.”

Today’s announcement is the latest milestone for the company on its mission to secure every application, every relationship, and every user in every environment. This news closely follows the recent product innovations including the vArmour Application Access & Identity Module, and the latest version of its Application Controller solution with Relationship Search capabilities.

For more information about vArmour please visit www.varmour.com

About vArmour

vArmour is the leading provider of Application Relationship Management. Enterprises around the world rely on vArmour to control operational risk, increase application resiliency, and secure hybrid clouds — all while leveraging the technology they already own without adding costly new agents or infrastructure. Based in Los Altos, CA, the company was founded in 2011 and is backed by top investors including Highland Capital Partners, AllegisCyber, Redline Capital, Citi Ventures, and Telstra. Learn more at www.varmour.com.

Media Contact:

Mariah Gauthier, Highwire PR
(951) 314-0760
[email protected]