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IIROC Trading Halt – XRX

Canada NewsWire

VANCOUVER, BC, Nov. 16, 2020 /CNW/ – The following issues have been halted by IIROC:

Company: XORTX Therapeutics Inc.

CSE Symbol: XRX

All Issues: Yes

Reason: Pending News

Halt Time (ET): 8:27 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

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Accenture, Orexo Team to Offer Digital Therapeutics through INTIENT™ Platform

PR Newswire

NEW YORK and MORRISTOWN, N.J., Nov. 16, 2020 /PRNewswire/ — Accenture (NYSE: ACN) has helped the U.S. subsidiary of Swedish pharmaceutical company Orexo launch its first digital therapeutic, vorvida®, for patients in the United States dealing with problematic alcohol use. vorvida® is a web-based digital platform that uses the INTIENT™ Patient solution suite, which is powered by Google Cloud, to enable secure patient interactions and connectivity to an ecosystem of third-party health care services.

 A critical aspect to providing this population with a new treatment option was creating a digital solution that could immediately connect patients with health care services and scale to support the portfolio of Orexo’s future digital therapies, such as the ones for depression and opioid abuse.

“We are delighted to work with Accenture to make our digital therapies even more accessible to those who need them,” said Dennis Urbaniak, executive vice president, Digital Therapeutics, Orexo. “We know that many of our patients are concerned with confidentiality and privacy, and the INTIENT™ Platform provides a safe, secure platform through which individuals struggling with mental or behavioral issues can confidently get the care they need – right at their fingertips.”  

Digital therapeutics are clinically validated patient treatments that provide access to novel care models and deliver health outcomes using a combination of digital inputs, artificial intelligence algorithms, and interventions to impact patients’ healthy behaviors. Orexo’s digital therapeutics are designed to learn from interactions and personalize the delivery of content to fit the unique needs of the individual. In addition to vorvida®, Orexo also offers deprexis® for the treatment of depression and anxiety, and modia™ for the treatment of opioid use disorder, which is expected to be available in the U.S. by the end of the year.

“Orexo is a great example of how INTIENT™ is supporting the future of the life science industry, driven by a focus on New Science, by providing a secure digital solution for patient data and connectivity to the market of digital health innovations and services,” said Tony Romito, managing director, Global Patient Service, Accenture.

The INTIENT Patient solution suite is part of Accenture’s INTIENT™ platform, which supports the life science industry by providing cloud-based solutions for industry needs across R&D and Commercial.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services-all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com. 

The Life Sciences industry group helps pharmaceutical, biotech, medical technology, distributor and consumer health companies combine the latest technology with scientific breakthroughs to revolutionize how medical treatments are discovered, developed and delivered to patients around the world. To learn more, visit https://www.accenture.com/us-en/industries/life-sciences-index. 

About Orexo DTx 

Orexo DTx is the digital health arm of Orexo AB, a pharmaceutical company that develops and commercializes improved pharmaceuticals and digital therapies. The company addresses unmet needs mainly within the growing space of substance use disorders and mental health. Orexo DTx was created in Q4 of 2019 and the product portfolio consists of three digital therapies, deprexis® for depression, vorvida® for alcohol misuse and modia™ for opioid use disorder, all in partnership with the GAIA group.

Orexo DTx’s mission is to redefine treatment of addiction by offering clinically validated digital therapeutics to ensure more successful treatment for patients and cost-effective solutions for payers. The digital products will be commercialized by Orexo DTx worldwide, with the U.S. as the principal market, where Orexo also commercializes its lead product ZUBSOLV® (buprenorphine and naloxone) sublingual tablets (CIII) for treatment of opioid use disorder.

Orexo is listed on the Nasdaq Stockholm Mid Cap (ORX) and is available as ADRs on OTCQX (ORXOY) in the U.S. The company is headquartered in Uppsala, Sweden, where research and development activities are performed. 

For more information about Orexo please visit, https://orexo.com. You can also follow Orexo on Twitter, @orexoabpubl, LinkedIn and YouTube.

Contact:

Lara Wozniak 
Accenture
+1 858 252 8208 
[email protected]

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/orexo/r/accenture–orexo-team-to-offer-digital-therapeutics-through-intient–platform,c3237260

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SOURCE Orexo

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Net Element Reports Third Quarter 2020 Financial Results

MIAMI, Nov. 16, 2020 (GLOBE NEWSWIRE) — via InvestorWire – Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a global technology and value-added solutions group that supports electronic payments acceptance in a multichannel environment including point of sale (“POS”), e-commerce and mobile devices, today reports its financial results for the third quarter ended Sept. 30, 2020.


Third Quarter 2020 Financial Results

  • Total transaction volume increased to $956.2 million, as compared to $953.7 million for the same comparable period in 2019.
  • Net revenues decreased to $16.7 million, as compared to $16.8 million for the same comparable period in 2019.
  • North American Transaction Solutions revenue increased to $16.07 million, as compared to $15.9 million for the same comparable period in 2019.
  • International Transaction Solutions revenue decreased to $0.67 million, as compared to $0.90 million for the same comparable period in 2019.
  • Operating expenses increased to $4.1 million, as compared to $3.6 million for the same comparable period.
  • Gross margin decreased to $2.2 million, as compared to $2.7 million for the same comparable period in 2019.

“We continue working diligently in an effort to finalize the Mullen merger for the benefit of our shareholders,” commented Oleg Firer, Executive Chairman of Net Element.


Results of Operations for the Three Months Ended Sept. 30, 2020, Compared to the Three Months Ended


Sept.


 30, 2019

The Company reported a net loss attributable to common stockholders of approximately $2.3 million or $0.52 per share loss for the three months ended Sept. 30, 2020 as compared to a net loss of approximately $1.0 million or $0.24 per share loss for the three months ended Sept. 30, 2019. The increase in net loss attributable to stockholders of approximately $1.3 million was primarily due to an increase in non-cash compensation of approximately $1.1 million and an increase in bad debt expense of approximately $200,000.

The following tables set forth the Company’s sources of revenues, cost of revenues and the respective gross margins for the three months ended Sept. 30, 2020 and 2019.

QTD      
                           
    Three       Three              
    Months Ended       Months Ended       Increase /      
Source of Revenues   September 30, 2020   Mix   September 30, 2019   Mix   (Decrease)   % change  
North American Transaction Solutions   $ 16,072,518   96.0 %   $ 15,923,805   94.7 %   $ 148,713     0.93 %  
International Transaction Solutions     661,856   4.0 %     895,881   5.3 %     (234,025 )   -26.12 %  
   Total   $ 16,734,374   100.0 %   $ 16,819,686   100.0 %   $ (85,312 )      
                           
    Three       Three              
    Months Ended   % of   Months Ended   % of   Increase /      
Cost of Revenues   September 30, 2020   revenues   September 30, 2019   revenues   (Decrease)      
North American Transaction Solutions   $ 14,083,449   87.6 %   $ 13,414,334   84.2 %   $ 669,115     4.99 %  
International Transaction Solutions     476,741   72.0 %     664,907   74.2 %     (188,166 )   -28.30 %  
   Total   $ 14,560,190   87.0 %   $ 14,079,241   83.7 %   $ 480,949        
                           
    Three       Three              
    Months Ended   % of   Months Ended   % of   Increase /      
Gross Margin   September 30, 2020   revenues   September 30, 2019   revenues   (Decrease)      
North American Transaction Solutions   $ 1,989,069   12.4 %   $ 2,509,471   15.8 %   $ (520,402 )   -20.74 %  
International Transaction Solutions     185,115   28.0 %     230,974   25.8 %     (45,859 )   -19.85 %  
   Total   $ 2,174,184   13.0 %   $ 2,740,445   16.3 %   $ (566,261 )      
                           
                           
YTD      
                           
    Nine       Nine              
    Months Ended       Months Ended       Increase /      
Source of Revenues   September 30, 2020   Mix   September 30, 2019   Mix   (Decrease)   % change  
North American Transaction Solutions   $ 44,204,134   95.5 %   $ 46,025,308   95.2 %   $ (1,821,174 )   -3.96 %  
International Transaction Solutions     2,086,415   4.5 %     2,328,871   4.8 %     (242,456 )   -10.41 %  
   Total   $ 46,290,549   100.0 %   $ 48,354,179   100.0 %   $ (2,063,630 )      
                           
    Nine       Nine              
    Months Ended   % of   Months Ended   % of   Increase /      
Cost of Revenues   September 30, 2020   revenues   September 30, 2019   revenues   (Decrease)      
North American Transaction Solutions   $ 37,923,749   85.8 %   $ 38,627,147   83.9 %   $ (703,398 )   -1.82 %  
International Transaction Solutions     1,473,635   70.6 %     1,613,607   69.3 %     (139,972 )   -8.67 %  
   Total   $ 39,397,384   85.1 %   $ 40,240,754   83.2 %   $ (843,370 )      
                           
    Nine       Nine              
    Months Ended   % of   Months Ended   % of   Increase /      
Gross Margin   September 30, 2020   revenues   September 30, 2019   revenues   (Decrease)      
North American Transaction Solutions   $ 6,280,385   14.2 %   $ 7,398,161   16.1 %   $ (1,117,776 )   -15.11 %  
International Transaction Solutions     612,780   29.4 %     715,264   30.7 %     (102,484 )   -14.33 %  
   Total   $ 6,893,165   14.9 %   $ 8,113,425   16.8 %   $ (1,220,260 )      
                           

Net revenues consist primarily of service fees from transaction processing. Net revenues were approximately $16.8 million for the three months ended Sept. 30, 2020 and 2019. Cost of revenues represents direct costs of generating revenues, including commissions, mobile operator fees, interchange expense, processing, and non-processing fees. Cost of revenues for the three months ended Sept. 30, 2020 were approximately $14.6 million as compared to approximately $14.1 million for the three months ended Sept. 30, 2019.

The gross margin for the three months ended Sept. 30, 2020 was approximately $2.2 million, or 13.0% of net revenues, as compared to approximately $2.7 million, or 16.3% of net revenues, for the three months ended Sept. 30, 2019. The primary reason for the decrease in the overall gross margin percentage was primarily the result of the competitive pressure in our industry, relating to costs that can be passed through to our merchants.


Operating Expenses Analysis:

Operating expenses were approximately $4.1 million for the three months ended Sept. 30, 2020, as compared to $3.6 million for three months ended Sept. 30, 2019. Operating expenses for the three months ended Sept. 30, 2020, primarily consisted of selling, general and administrative expenses of approximately $1.6 million, non-cash compensation of approximately $1.1 million, bad debt expense of approximately $600,000, and depreciation and amortization expense of approximately $750,000. Operating expenses for the three months ended Sept. 30, 2019, primarily consisted of selling, general and administrative expenses of approximately $2.4 million, bad debt expense of approximately $400,000, and depreciation and amortization expenses of approximately $750,000. The increase in operating expenses was primarily related to the non-cash compensation with a corresponding decrease in selling, general, and administrative expenses due to the reduction of the labor force and the compensation of certain employees and executives of the Company, as compared to the previous corresponding quarter.

The components of the Company’s selling, general and administrative expenses are reflected in the tables below.

Selling, general and administrative expenses for the three months ended Sept. 30, 2020 and 2019 consisted of operating expenses not otherwise delineated in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Loss, as follows:

QTD                     YTD                  
Three months ended September 30, 2020                     Nine months ended September 30, 2020                  
                                         
Category   North American Transaction
Solutions		   International Transaction
Solutions		   Corporate Expenses & Eliminations   Total     Category   North American Transaction
Solutions		   International Transaction Solutions   Corporate Expenses & Eliminations   Total  
                                                                     
Salaries, benefits, taxes and contractor payments $ 563,948     $ 95,254     $ 84,688     $ 743,890       Salaries, benefits, taxes and contractor payments $ 1,649,488     $ 300,221     $ 753,983     $ 2,703,692    
Professional fees     91,468       29,523       251,262       372,253       Professional fees     253,046       117,951       748,210       1,119,207    
Rent     16,664       16,183       10,568       43,415       Rent     34,307       46,341       102,076       182,724    
Business development     42,198       2,500       2,929       47,627       Business development     153,547       2,517       8,836       164,900    
Travel expense     1,306       12,396       39,506       53,208       Travel expense     6,615       46,892       135,032       188,539    
Filing fees     –       –       18,916       18,916       Filing fees     –       –       56,254       56,254    
Transaction gains     –       12,641       –       12,641       Transaction gains     –       89,140       –       89,140    
Office expenses     65,208       2,961       18,091       86,260       Office expenses     184,692       13,688       63,065       261,445    
Communications expenses     33,387       32,210       25,707       91,304       Communications expenses     122,158       121,574       61,578       305,310    
Insurance expense     –       –       46,772       46,772       Insurance expense     –       –       127,457       127,457    
Other expenses     2,561       2,065       126,684       131,310       Other expenses     2,990       4,168       142,991       150,149    
   Total   $ 816,740     $ 205,733     $ 625,123     $ 1,647,596          Total   $ 2,406,843     $ 742,492     $ 2,199,482     $ 5,348,817    
                                         
                                         
Three months ended September 30, 2019                     Nine months ended September 30, 2019                  
                                         
Category   North American Transaction Solutions   International Transaction Solutions   Corporate Expenses & Eliminations   Total     Category   North American Transaction Solutions   International Transaction Solutions   Corporate Expenses & Eliminations   Total  
                                                                     
Salaries, benefits, taxes and contractor payments $ 304,391     $ 124,921     $ 729,426     $ 1,158,738       Salaries, benefits, taxes and contractor payments $ 926,868     $ 400,943     $ 2,294,391     $ 3,622,202    
Professional fees     125,713       58,478       486,984       671,175       Professional fees     400,058       186,440       1,334,367       1,920,865    
Rent     –       23,048       51,795       74,843       Rent     –       57,144       157,086       214,230    
Business development     75,414       540       18,707       94,661       Business development     168,582       1,655       28,821       199,058    
Travel expense     36,337       10,553       18,466       65,356       Travel expense     95,984       24,038       83,833       203,855    
Filing fees     –       –       37,213       37,213       Filing fees     –       –       78,125       78,125    
Transaction losses     –       7,169       –       7,169       Transaction losses     –       (36,923 )     –       (36,923 )  
Office expenses     91,051       4,460       12,093       107,604       Office expenses     249,232       14,485       38,406       302,123    
Communications expenses     39,530       61,428       17,710       118,668       Communications expenses     119,233       158,495       59,584       337,312    
Insurance expense     –       –       42,418       42,418       Insurance expense     –       –       112,932       112,932    
Other expenses     15,073       1,672       4,196       20,941       Other expenses     12,639       7,610       108,693       128,942    
   Total   $ 687,509     $ 292,269     $ 1,419,008     $ 2,398,786          Total   $ 1,972,596     $ 813,887     $ 4,296,238     $ 7,082,721    
                                         
Variance                     Variance                  
                                         
Category   North American Transaction Solutions   International Transaction Solutions   Corporate Expenses & Eliminations   Total     Category   North American Transaction Solutions   International Transaction Solutions   Corporate Expenses & Eliminations   Total  
                                                                     
Salaries, benefits, taxes and contractor payments $ 259,557     $ (29,667 )   $ (644,738 )   $ (414,848 )     Salaries, benefits, taxes and contractor payments $ 722,620     $ (100,722 )   $ (1,540,408 )   $ (918,510 )  
Professional fees     (34,245 )     (28,955 )     (235,722 )     (298,922 )     Professional fees     (147,012 )     (68,489 )     (586,157 )     (801,658 )  
Rent     16,664       (6,865 )     (41,227 )     (31,428 )     Rent     34,307       (10,803 )     (55,010 )     (31,506 )  
Business development     (33,216 )     1,960       (15,778 )     (47,034 )     Business development     (15,035 )     862       (19,985 )     (34,158 )  
Travel expense     (35,031 )     1,843       21,040       (12,148 )     Travel expense     (89,369 )     22,854       51,199       (15,316 )  
Filing fees     –       –       (18,297 )     (18,297 )     Filing fees     –       –       (21,871 )     (21,871 )  
Transaction gains     –       5,472       –       5,472       Transaction gains     –       126,063       –       126,063    
Office expenses     (25,843 )     (1,499 )     5,998       (21,344 )     Office expenses     (64,540 )     (797 )     24,659       (40,678 )  
Communications expenses     (6,143 )     (29,218 )     7,997       (27,364 )     Communications expenses     2,925       (36,921 )     1,994       (32,002 )  
Insurance expense     –       –       4,354       4,354       Insurance expense     –       –       14,525       14,525    
Other (income) expenses     (12,512 )     393       122,488       110,369       Other (income) expenses     (9,649 )     (3,442 )     34,298       21,207    
   Total   $ 129,231     $ (86,536 )   $ (793,885 )   $ (751,190 )        Total   $ 434,247     $ (71,395 )   $ (2,096,756 )   $ (1,733,904 )  
                                         

Salaries, benefits, taxes and contractor payments decreased by approximately $0.4 million on a consolidated basis for the three months ended Sept. 30, 2020 as compared to the three months ended Sept. 30, 2019. This was primarily due to necessary reductions in staffing and the reduction of compensation of certain employees and executives of the Company, due to the effects of the COVID-19 pandemic on Net Element’s operations.


Reconciliation of Non-GAAP Financial Measures and Regulation G Disclosure

To supplement its consolidated financial statements presented in accordance with United States generally accepted accounting principles (“GAAP”), the Company provides additional measures of its operating results by disclosing its adjusted net loss attributable to Net Element, Inc. stockholders. Adjusted net loss attributable to Net Element stockholders is calculated as net loss attributable to Net Element stockholders excluding non-cash share-based compensation. The Company discloses this amount on an aggregate and per-share basis. These measures meet the definition of non-GAAP financial measures. The Company believes that application of these non-GAAP financial measures is appropriate to enhance the understanding of the Company’s investors regarding its historical performance through the use of a metric that seeks to normalize period-to-period earnings. A reconciliation of these non-GAAP financial measures with the comparable financial measures calculated in accordance with GAAP for the quarter ended Sept. 30, 2020, and Sept. 30, 2019, is presented in the following tables.

       
   GAAP  Share-based
Compensation 		 Adjusted Non-GAAP
Three Months Ended September 30, 2020      
Net loss attributable to Net Element Inc stockholders $ (2,329,570 ) $ 1,089,113 $ (1,240,457 )
Basic and diluted earnings per share $ (0.52 ) $ 0.24 $ (0.28 )
Basic and diluted shares used in computing earnings per share   4,498,510       4,498,510  
Three Months Ended September 30, 2019      
Net loss attributable to Net Element Inc stockholders $ (1,010,627 ) $ 15,008 $ (995,619 )
Basic and diluted earnings per share $ (0.24 ) $ – $ (0.24 )
Basic and diluted shares used in computing earnings per share   4,152,433       4,152,433  
       
   GAAP  Share-based
Compensation 		 Adjusted Non-GAAP
Nine Months Ended September 30, 2020      
Net loss attributable to Net Element Inc stockholders $ (4,021,057 ) $ 1,135,013 $ (2,886,044 )
Basic and diluted earnings per share $ (0.94 ) $ 0.27 $ (0.67 )
Basic and diluted shares used in computing earnings per share   4,264,624       4,264,624  
Nine Months Ended September 30, 2019      
Net loss attributable to Net Element Inc stockholders $ (3,668,921 ) $ 2,035,855 $ (1,633,066 )
Basic and diluted earnings per share $ (0.91 ) $ 0.50 $ (0.41 )
Basic and diluted shares used in computing earnings per share   4,033,521       4,033,521  

Use of Non-GAAP Financial Measures

Non-GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. Non-GAAP measures exclude significant expenses that are required by GAAP to be recorded in the Company’s financial statements and are subject to inherent limitations.

About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. On Aug. 5, 2020, Net Element announced the execution of a definitive agreement (the “Merger Agreement”) to merge with privately-held Mullen Technologies, Inc. (“Mullen”), a Southern California-based electric vehicle company in a stock-for-stock reverse merger in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company (the “contemplated merger”). That contemplated merger is subject to customary closing conditions, regulatory approvals and shareholder approval for both companies.

Forward-Looking Statements
Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to what the ultimate impact of the COVID-19 pandemic will have on the Company and its operations, whether the proposed merger with Mullen will be consummated, including the receipt and timing of required approvals and satisfaction of other conditions to the closing of the proposed merger and the related transactions contemplated in the merger agreement, whether the Company will achieve growth or achieve its goals and when the Company will reach profitability. Additional examples of such risks and uncertainties include, but are not limited to (i) Net Element’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element’s ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element’s ability to successfully expand in existing markets and enter new markets; (iv) Net Element’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element’s business; (viii) changes in government licensing and regulation that may adversely affect Net Element’s business; (ix) the risk that changes in consumer behavior could adversely affect Net Element’s business; (x) Net Element’s ability to protect its intellectual property; (xi) local, industry and general business and economic conditions; and (xii) adverse effects of potentially deteriorating U.S.-Russia relations, including, without limitation, over a conflict related to Ukraine, including a risk of further U.S. government sanctions or other legal restrictions on U.S. businesses doing business in Russia. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element with the Securities and Exchange Commission. Net Element anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing the Company’s plans and expectations as of any subsequent date.

Contact:

Net Element, Inc.
Tel. +1 (786) 923-0502
[email protected]
www.netelement.com

 



Posted on

TE Connectivity achieves Dow Jones Sustainability Index listing for ninth consecutive year

Achievement follows release of TE’s first enterprise-wide corporate responsibility strategy

PR Newswire

SCHAFFHAUSEN, Switzerland, Nov. 16, 2020 /PRNewswire/ — TE Connectivity (NYSE: TEL), a world leader in connectivity and sensors, has once again been named to the Dow Jones Sustainability Index. This achievement marks TE’s ninth consecutive year on the Index and follows the release of TE’s first-ever enterprise-wide corporate responsibility strategy, One Connected World.

Each year, the Dow Jones Sustainability Index analyzes more than 7,300 companies around the world, reviewing their environmental, social and governance (ESG) performance. Companies that show strong commitments and progress toward strengthening their ESG performance are named to the Dow Jones Sustainability Index, which serves as a key reference point for investors seeking to invest in sustainable companies.

TE’s One Connected World strategy and its 2030 ambitions, launched this past summer, create a roadmap for improving TE’s sustainability performance and how sustainability will be prioritized over the next ten years.

“TE employees work every day to make our company and the world more sustainable,” said John Jenkins, executive vice president and general counsel. “Each of us plays a role in sustainability, from designing our products to managing our operations to our corporate governance and beyond. I’m proud these efforts have been recognized by the Dow Jones Sustainability Index and look forward to more progress as we pursue our One Connected World 2030 ambitions.”

Some of TE’s notable sustainability achievements include:

  • 74% of TE sites finished the year with zero or one recordable incidents, a 65% improvement since FY2010
  • Reduced overall energy use intensity by 40% and greenhouse gas emissions by 25% since FY2010
  • Collected 114,000 responses to TE’s annual Conflict Minerals Report, helping TE and its suppliers continue to make responsible sourcing decisions
  • Donated $5.6 million through TE and the TE Foundation to support charitable causes important to its employees and communities

The DJSI listing follows several other awards recognizing TE’s responsible business practices this year, including FORTUNE’s 2020 List of World’s Most Admired Companies and Best Places to Work for LGBTQ Equality in the United States and Mexico.

For more information on corporate responsibility at TE and to view the most recent corporate responsibility report, visit TE.com/responsibility.

ABOUT TE CONNECTIVITY
TE Connectivity 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.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/te-connectivity-achieves-dow-jones-sustainability-index-listing-for-ninth-consecutive-year-301173488.html

SOURCE TE Connectivity Ltd.

Posted on

Logiq Reports Q3 2020 Results, with Nine Month Revenues up 27% to $31.3 Million

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Logiq, Inc. (OTCQX: LGIQ) (formerly Weyland Tech), a global provider of award-winning eCommerce and Fintech solutions, reported results for the three and nine months ended September 30, 2020. All quarterly and nine-month comparisons are to the same year-ago period unless otherwise noted.

Financial Highlights

  • Revenue in Q3 totaled $7.0 million, declining 22% primarily due to the impact of the COVID-19 pandemic on SMB customers using the company’s AppLogiq mobile app platform-as-as-service, which was partially offset by increased revenue from DataLogiq consumer data management platforms.
  • Revenue for the nine months ended September 30, 2020 increased 27% to $31.3 million.
  • Consolidated gross profit for the first nine months of 2020 increased 14% to $5.0 million or 15.9% of consolidated revenue.
  • Cash and cash equivalents and restricted cash totaled $4.8 million at September 30, 2020 versus $3.9 million at June 30, 2020.          

Q
3
20
20
Operational
Highlights

  • Rebranded the company as Logiq, Inc., reflecting the company-wide evolution from primarily an eCommerce products and services company to a leading innovator of data-driven consumer intelligence and marketing technology.
  • Entered an agreement to acquire Fixel AI, leading innovator in AI-powered digital marketing technology, which was completed earlier this month. Fixel furthers Logiq’s goal of adding simplified marketing and critical privacy features to the company’s AI-powered consumer intent engine designed for brands and premium publishers.
  • Partnered with Yabx, a fintech venture of Comviva and part of $6.2 billion Tech Mahindra, to offer credit-based financial services offered through Logiq’s increasingly popular PayLogiq™ e-wallet and GoLogiq™ hyper-local food delivery platforms.
  • Increased beneficial stake in the company’s Weyland Indonesia Perkasa (WIP) subsidiary from 31% to 51%, which will allow the future consolidation of its revenue. WIP is the Southeast Asia operator of the company’s GoLogiq food delivery service and PayLogiq mobile e-wallet.
  • Partnered with ShopeePay, Indonesia’s integrated e-money services, to launch a new marketing campaign for Weyland’s fast-growing AtozGo™ food delivery service in Jakarta.
  • Launched new digital marketing campaign in Taiwan and Indonesia for AppLoqiq (branded as CreateApp in these markets). The launch in Indonesia follows a successful pilot of a new marketing program completed in Taiwan that resulted in a marketing ROI of 3-to-1.
  • Promoted Tom Furukawa to chief executive officer of Logiq, succeeding Brent Suen, who was appointed executive chairman and continues to serve as president. Furukawa brings to the position extensive senior-level experience with creating and delivering cutting-edge digital marketing technologies for top international brands. Over the last 26 years, he has served in senior level management roles for some of the world’s most successful major companies, like Yahoo!, IBM Tivoli, and The Rubicon Project.
  • Appointed former Omnicom and Yahoo! senior executive, Josh Jacobs, to the company’s board of directors. His appointment increased the board to seven members, with four serving as independent directors. Jacobs is a highly accomplished technology executive with 30 years of innovation in digital media and advertising, sales and marketing, and strategic business and consumer product development.
  • Began the process to have the company’s common shares listed on the NEO Exchange (NEO), Canada’s next-generation stock exchange. A listing on the NEO, which is subject to Logiq fulfilling NEO’s listing requirements, also presents an opportunity to eventually list on the NYSE American exchange, and become dual-listed on recognized exchanges in both Canada and the U.S.

Management Commentary

“Q3 was another exciting and event-filled quarter for Logiq, which included the roll out of a whole new look and brand,” commented company president, Brent Suen. “Our new name reflects the transformation of our company that began at the beginning of this year with the acquisition of our fast-growing eCommerce technology platform, now branded DataLogiq.

“Our overall offerings now extend from mobile commerce and fintech solutions for small- and medium-sized businesses or SMBs, to AI-powered, SaaS-based, customer acquisition for major enterprises and brands.

“Our customer relationships now range from hundreds of thousands of SMBs around the world to publicly traded Fortune 500 companies. Our marquee clients now include Cox Automotive (owners of Kelly Blue Book and Auto Trader), Home Advisor, QuinStreet and Sunrun, and the recent addition of an eCommerce brand Purple, the creator of the renowned Purple Mattress.

“The transformation also involved the streamlining during the third quarter of our various brands and business units into two business segments: DataLogiq and AppLogiq.

“DataLogiq’s data engine uses proprietary methodologies and AI systems to deliver valuable consumer insights that can dramatically enhance the effectiveness, reach, and ROI of online marketing spend for enterprises and major brands. Alongside DataLogiq is our new Fixel AI technology unit that offers simplified online marketing with critical privacy features.

“Our AppLogiq mobile Commerce platform-as-a-service enables small-and-medium sized businesses (SMBs) worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. Now as part of our AppLogiq mobile platform is our PayLogiq fintech and GoLogiq delivery services that have become magnets of interest by potential partners due to the deep consumer data both have been acquiring since their inception.

“A few weeks ago, we were selected to provide mobile microlending and related services to 48 million Indonesians and more than 600,000 businesses in an exclusive strategic alliance with the country’s social security program provider, KMSB. To put the opportunity in perspective, through our Indonesian operations, we currently have 36,000 SMBs and 130,000 individual customers. But we’ve now have gained access to an exponentially larger base of new customers who are a captive audience of KMSB.

“The opportunities for new revenue streams from microlending, mobile payments, and our eCommerce solutions with this enormous user base are also phenomenal, potentially generating tens of millions of dollars of revenue annually once the alliance with KMSB is fully launched.   As we continue to attract additional major global partners like KMSB, ShopeePay and TechMahindra, we see ourselves at just the beginning of a long-term acceleration in this key segment of our global business operations.

“This new diversification of our revenue sources has allowed us to weather the pandemic storm perhaps better than others. In emerging markets where we’ve had a specific focus with AppLogiq, the micro and small businesses there pay a monthly subscription that represents a fair percentage of their monthly income. Because of the economic impact of COVID-19, for many, it became difficult to justify the expense without measured results from their nascent mCommerce activities. So, we made the decision to provide a low-no-cost solution to them for 1-3 months to keep them on board. This has naturally impacted our results over the near-term, but we believe it will be good for long term growth.

“Such proactive steps demonstrate how our Logiq teams have remained execution focused to mitigate the effects of the global pandemic on our business. For AppLogiq, this has also meant using these challenging times as an opportunity to transition away from lower margin service offerings marketed through distributors to more direct, B2B, higher margin business. Under this new direction, we see AppLogiq’s gross margins increasing from around 17% to 35% – 40%, which is more in line with a true platform-as-a-service offering.

“As we get past the pandemic with the advent of the vaccine that is reportedly rolling out over the next few months, 2021 could well be our most profitable year for AppLogiq, especially as we extend its direct market reach through the new partnerships we’ve announced over last few months. For DataLogiq, adapting to the changes in the marketplace has meant introducing a new SaaS revenue stream per the recent acquisition of Fixel AI. DataLogiq’s ability to adapt to changing environments and consumer demands has helped it navigate and overcome today’s unprecedented challenges.

“Our planned listing on the NEO exchange continues well on course. NEO’s investor-first approach to trading represents the next evolution in capital market transactions, and it currently accounts for 30% of the total trading volume in Canada. Why Canada? Canada is home to one of our best peers, Shopify, and just about every individual or institutional investor there is familiar with SHOP and has participated in its dramatic rise.

“As a global, fast-growing company, our listing on NEO presents a great opportunity to increase awareness of Logiq in the North American investment community. A listing on the NEO also presents an opportunity to eventually dual-list our stock on the NYSE American through a special relationship NEO has with the NYSE.

“The second half of this year is appearing to be a pivotal period for us overall, as we begin transitioning away from lower margin services to focus on higher margin offerings and opportunities. We have executed well by adjusting and finding opportunities under the pandemic and believe this demonstrates the resiliency of our business model.

“In all, and despite a tumultuous year of challenges and setbacks created by the global pandemic, we have been able to transform Logiq into a global provider of a full range of eCommerce solutions for companies of all sizes. This has put us on course for strong growth in 2021 and beyond with more diversified, high-margin revenue streams derived from the strongest segments of our industry. Combined with our DataLogiq and Fixel acquisitions, we remain on track to end 2020 with record revenue at more than $38 million, and with margins expanding across all business segments.”

Q
3
20
20
Financial Summary

Revenue decreased 22% to a $7.0 million in the third quarter of 2020, as compared to $9.0 million in the same year-ago quarter, with the decrease largely due to the impact of COVID-19.

The company’s AppLogiq mCommerce platform-as-as-service (PaaS) contributed $3.2 million or 45.6% of consolidated revenue in the third quarter, which decreased 64% from $9.0 million or 100% of consolidated revenue in the same year-ago period. The decrease was primarily due to the impact of the COVID-19 pandemic, and the resulting lockdown of commercial businesses and stay-at-home orders. The company has focused on its direct sales business as part of its plan to increase its margin profile and align with other PaaS companies. As part of this focus, the company is expected to have lower top-line revenue, but higher margins on a going-forward basis.

Gross profit decreased 30% to $1.1 million or 15.8% of revenue in Q3 2020 from $1.6 million or 17.7% of revenue in the same year ago quarter. The decrease in gross profit and margin resulted primarily from the aforementioned impact of the COVID-19 pandemic.

Total operating expenses increased 47% to $4.0 million in Q3 2020 from $2.7 million in the same year ago period. The increase was primarily due to the addition of $1.0 million in general and administrative expenses for the DataLogiq operations acquired in January, and an increase in sales and marketing expenses, which was partially offset by a reduction in general and administrative expenses related to the AppLogiq platform.

Net loss was $2.9 million or $(0.23) per basic and fully diluted share in Q3 2020, compared to net loss of $1.1 million or $(0.19) per basic and fully diluted share in the same year-ago period.

At September 30, 2020, cash and cash equivalents totaled $4.8 million, compared to cash and cash equivalents of $3.9 million at June 30, 2020. The increase was primarily the result of proceeds from financing activities.

9M
2020
Financial Summary

Revenue increased 27% to a record $31.3 million for the first nine months of 2020, as compared to $24.6 million in the same year-ago period. The increase in revenues for the nine-month period was attributed to the revenue contributions from DataLogiq of $10.7 million.

Gross profit increased 14% to $5.0 million or 15.9% of revenue for first nine months of 2020 compared to $4.4 million or 17.7% of revenue in the same year ago period.

Total operating expenses increased 68% to $12.1 million for first nine months of 2020 from $7.2 million in the same year ago period. The increase was primarily due to an increase in general and administrative expenses to $6.3 million compared to $3.5 million in the same year ago period.

Net loss was $7.4 million or $(0.60) per basic and fully diluted share in the first nine months of 2020, compared to net loss of $2.8 million or $(0.69) per basic and fully diluted share in the same year-ago period.

Conference Call

Logiq management will host the call, followed by a question and answer period.

Date: Monday, November 16, 2020
Time: 1:00 p.m. Eastern time (10:00 a.m. Pacific time)
Toll-free dial-in number: 1-866-548-4713
International dial-in number: 1-323-794-2093
Conference ID: 9608741

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.

A replay of the call will be available after 4:00 p.m. Eastern time on the same day through Monday, November 30, 2020, as well as available for replay via the Investors section of the Logiq website at weyland-tech.com/ir/.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 9608741

About Logiq

Logiq, Inc. (OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s PayLogiq™ offers mobile payments, and GoLogiq™ offers hyper-local food delivery services. For more information about Logiq, go to Logiq.com.

Forward-Looking Disclaimer
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq 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 Logiq ‘s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s 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 Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

Company Contact

Brent Suen, President
Logiq, Inc.
Email contact

Media & Investor Contact

Ronald Both or Grant Stude
CMA Investor & Media Relations
Tel (949) 432-7566
Email contact



LOGIQ INC.

Consolidated Balance Sheets

  September 30   December 31  
  2020   2019  
  (Unaudited)   (Audited)  
ASSETS        
Non-current assets        
Intangible assets, net   7,657,848     611,598  
Property and equipment, net   190,202     –  
Goodwill   4,781,208     –  
Total non-current assets   12,629,258     611,598  
             
Current assets            
Amount due from associate   5,023,700     2,825,700  
Accounts receivable   1,567,852     –  
Other amount recoverable   49,550     549,550  
Prepayment, deposit and other receivables   121,723     1,641,684  
Financial assets held for resale   996,414     2,730,363  
Cash and cash equivalents   4,847,284     2,972,649  
Total current assets   12,606,523     10,719,946  
Total assets $ 25,235,781   $ 11,331,544  
             
Liabilities and Stockholders’ Equity            
Current liabilities            
Accounts payable   961,310     –  
Accruals and other payables   917,571     298,453  
Deposits received for shares to be issued   2,235,184     –  
Convertible promissory notes   2,911,000     –  
Amount due to director   77,500     77,500  
Total current liabilities   7,102,565     375,953  
             
Non-current liabilities            
Other loan   10,000     –  
Bank loan   –     500,000  
Notes payable   503,700     –  
Total non-current liabilities   513,700     500,000  
Total liabilities $ 7,616,265   $ 875,953  
             
Stockholders’ Equity            
Common stock, $0.0001 par value, 250,000,000 shares authorized, 13,205,355 and 8,561,704 shares issued and outstanding as of September 30, 2020 and December 31, 2019 respectively*   17,167     11,130  
Additional paid-in capital   58,301,051     58,058,118  
Capital reserves   14,282,143     –  
Accumulated deficit carried forward   (54,980,845 )   (47,613,657 )
Total shareholders’ equity   17,619,516     10,455,591  
Total liabilities and stockholders’ equity $ 25,235,781   $ 11,331,544  

* The number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020



LOGIQ INC.

Consolidated Statements of Operations

  For the three months ended

September 30, 		  For the nine months ended

September 30, 		 
  2020   2019   2020   2019  
  (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)  
                 
Service Revenue $ 7,030,305   $ 8,996,441   $ 31,326,759   $ 24,630,065  
Cost of Service   5,919,848     7,399,583     26,351,514     20,258,258  
Gross Profit   1,110,457     1,596,858     4,975,245     4,371,807  
                         
Operating Expenses                        
General and administrative   1,968,763     1,557,960     6,346,531     3,479,751  
Research and development   1,018,389     1,126,165     3,681,162     3,236,713  
Sales and marketing   544,970     –     697,190     389,610  
Depreciation and amortization   455,424     25,483     1,354,674     76,450  
Total Operating Expenses   3,987,546     2,709,609     12,079,557     7,182,524  
                         
(Loss) from Operations   (2,877,089 )   (1,112,751 )   (7,104,312 )   (2,810,717 )
                         
Other Expenses   2,868     –     306,997     –  
Other Income   1,408     32,094     44,121     32,094  
Other income/(expenses),net   (1,460 )   32,094     (262,876 )   32,094  
                         
Net (Loss) before income tax   (2,878,549 )   (1,080,657 )   (7,367,188 )   (2,778,623 )
Income tax (Corporate tax)   –     –     –     –  
Net (Loss) $ (2,878,549 ) $ (1,080,657 ) $ (7,367,188 ) $ (2,778,623 )
                         
Net (loss) profit per common share – basic and fully diluted $ (0.2257 ) $ (0.1937 ) $ (0.6037 ) $ (0.6892 )
                         
Weighted average number of basic and fully diluted common share outstanding*   12,753,230     5,578,806     12,203,769     4,031,809  

* The weighted average number of shares of common stock has been retroactively restated to reflect the 1 for 13 reverse stock-split on February 25, 2020



Posted on

Akebia Announces Manuscript Highlighting Global Phase 3 INNO2VATE Program Rationale, Study Design and Baseline Characteristics Published in Peer-Reviewed Medical Journal

PR Newswire

CAMBRIDGE, Mass., Nov. 16, 2020 /PRNewswire/ — Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, today announced the publication of a manuscript detailing the study design and methodology for its global Phase 3 INNO2VATE program in Nephrology Dialysis Transplantation (NDT), the official journal for the European Renal Association-European Dialysis and Transplant Association (ERA-EDTA). The publication of Akebia’s manuscript in NDT marks the first publication in a peer-reviewed journal related to a global Phase 3 program of an oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIF-PHI) being evaluated as a potential treatment for anemia due to chronic kidney disease (CKD).  

The manuscript, titled “Global Phase 3 programme of vadadustat for treatment of anaemia of chronic kidney disease: rationale, study design and baseline characteristics of dialysis-dependent patients in the INNO2VATE trials,” includes a detailed description of design and methodology of the two Phase 3 INNO2VATE trials and summarize demographic and baseline characteristics of randomized patients. Importantly, the manuscript notes that “demographics and baseline characteristics of patients enrolled in the two studies are comparable to those typically observed in patients with DD (dialysis dependent)-CKD, suggesting the results of the INNO2VATE studies will be generalizable to a large proportion of the DD-CKD population.”

INNO2VATE evaluated the efficacy and safety of vadadustat, Akebia’s investigational oral HIF-PHI, versus darbepoetin alfa for the treatment of anemia due to CKD in adult patients on dialysis. As previously reported, vadadustat achieved the primary and key secondary efficacy endpoints and the primary safety endpoint of the INNO2VATE program, defined as non-inferiority of vadadustat versus darbepoetin alfa in time to first occurrence of a major adverse cardiovascular event (MACE), which is the composite of all-cause mortality, non-fatal myocardial infarction, or non-fatal stroke across both INNO2VATE studies. In addition, vadadustat achieved non-inferiority to darbepoetin alfa on key secondary safety endpoints that included expanded MACE, cardiovascular MACE, cardiovascular mortality, and all-cause mortality. 

“Achieving the first publication of a manuscript on the design of our global Phase 3 program focused on a HIF-PHI for anemia in a well-regarded, peer-reviewed nephrology journal is an important achievement for our company,” said Steven K. Burke, M.D., Senior Vice President, Research & Development and Chief Medical Officer of Akebia Therapeutics. “We believe publication of the manuscript reinforces the clinical rigor that guided the development of our INNO2VATE program, which has since successfully produced clear and consistent results. Our medical team continues to support vadadustat’s potential with a comprehensive publication plan that is expected to yield additional peer-reviewed publications this year and next year.” 

Nephrology Dialysis Transplantation: an international basic science and clinical renal journal (NDT) is the leading nephrology journal in Europe and renowned worldwide, devoted to original clinical and laboratory research in nephrology, dialysis and transplantation. NDT is an official journal of the ERA-EDTA. Published monthly, the journal provides an essential resource for researchers and clinicians throughout the world. All research articles in the journal have undergone peer review.

About Akebia Therapeutics
Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease. The Company was founded in 2007 and is headquartered in Cambridge, Massachusetts. For more information, please visit our website at www.akebia.com, which does not form a part of this release.

About Vadadustat
Vadadustat is an oral hypoxia-inducible factor prolyl hydroxylase (HIF-PH) inhibitor designed to mimic the physiologic effect of altitude on oxygen availability. At higher altitudes, the body responds to lower oxygen availability with stabilization of hypoxia-inducible factor, which can lead to increased red blood cell production and improved oxygen delivery to tissues. Vadadustat recently completed its global Phase 3 development program for the treatment of anemia due to CKD. Vadadustat is not approved by the U.S. Food and Drug Administration (FDA) or any regulatory authority with the exception of Japan’s Ministry of Health, Labour and Welfare (MHLW). In Japan, vadadustat is approved as a treatment for anemia due to CKD in both dialysis-dependent and non-dialysis dependent adult patients.

About Anemia due to Chronic Kidney Disease (CKD) 
Anemia is a condition in which a person lacks enough healthy red blood cells to carry adequate oxygen to the body’s tissues. It commonly occurs in people with CKD because their kidneys do not produce enough erythropoietin (EPO), a hormone that helps regulate production of red blood cells. Anemia due to CKD can have a profound impact on a person’s quality of life as it can cause fatigue, dizziness, shortness of breath and cognitive dysfunction. Left untreated, anemia leads to deterioration in health and is associated with increased morbidity and mortality in people with CKD. 

Forward Looking Statements
This press release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended, including but not limited to the statement regarding Akebia’s expectations with respect to additional peer-reviewed publications and the timing thereof. These statements are not historical facts, but instead represent only Akebia’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of Akebia’s control. For a discussion of risks related to the forward-looking statements in this statement see the “Risk Factors” section of Akebia’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and other filings that Akebia may make with the SEC in the future. These forward-looking statements (except as otherwise noted) speak only as of the date of this press release, and Akebia does not undertake, and specifically disclaims, any obligation to update any forward-looking statements contained in this press release.

Investor Contact

Kristen K. Sheppard, Esq.

[email protected]

 

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SOURCE Akebia Therapeutics

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Equinox Gold Announces Removal of Community Blockade at Los Filos Mine

PR Newswire

VANCOUVER, BC, Nov. 16, 2020 /PRNewswire/ – Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) (“Equinox Gold” or the “Company”) reports that the community blockade at the Company’s Los Filos Mine in Mexico has been removed and access to the mine has been restored. Los Filos has begun a staged restart and is working toward achieving full operations in December. Workers will resume their duties only after testing negative for COVID-19.

Representatives from Los Filos and Equinox Gold have met regularly with the community leaders to discuss their concerns. With the blockade removed, good-faith negotiations will continue in order to reach final agreement on a few remaining items related to benefits provided under the Carrizalillo social collaboration agreement.


Cautionary Notes and Forward-looking Statements

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements and forward-looking information in this news release relate to the time required to ramp-up and resume full operations at Los Filos, and amendments to the Carrizalillo social collaboration agreement. Forward-looking statements or information generally identified by the use of the words “will”, “undertake”, “intends”, “expects” and similar expressions and phrases or statements that certain actions, events or results “may”, “could” or “should”, or the negative connotation of such terms, are intended to identify forward-looking statements and information. The Company has based these forward-looking statements and information on the Company’s current expectations and projections about future events. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Accordingly, readers are cautioned not to put undue reliance on the forward-looking statements or information contained in this news release. The Company has made assumptions and estimates based on or related to factors such as its previous working history with communities around Los Filos; the discussions  with Carrizalillo; the Company’s ability to obtain and retain all necessary permits, licenses and regulatory approvals in a timely manner or at all; legal restrictions relating to mining including those imposed in connection with COVID-19; and other factors identified in the Company’s MD&A dated February 28, 2020 and its Annual Information Form dated May 13, 2020 both for the year ended December 31, 2019, and in the Company’s MD&A dated September 30, 2020 for Q3 2020, all of which are available on the Company’s website at www.equinoxgold.com, on SEDAR at

www.sedar.com

 and on EDGAR at

www.sec.gov

/edgar
. Forward-looking statements and information are designed to help readers understand management’s views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, the Company assumes no obligation to publicly announce the results of any change to any forward-looking statement or information contained or incorporated by reference to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements and information. If the Company updates any one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements. All forward-looking statements and information contained in this news release are expressly qualified in their entirety by this cautionary statement.

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SOURCE Equinox Gold Corp.

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Thinking about buying stock in Pfizer, Moderna, Inovio Pharmaceuticals, AMC Entertainment, or HighPoint Resources?

PR Newswire

NEW YORK, Nov. 16, 2020 /PRNewswire/ — InvestorsObserver issues critical PriceWatch Alerts for PFE, MRNA, INO, AMC, and HPR.

To see how InvestorsObserver’s proprietary scoring system rates these stocks, view the InvestorsObserver’s PriceWatch Alert by selecting the corresponding link.

(Note: You may have to copy this link into your browser then press the [ENTER] key.)

InvestorsObserver’s PriceWatch Alerts are based on our proprietary scoring methodology. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Each of those scores is then combined into an overall score that determines a stock’s overall suitability for investment.

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SOURCE InvestorsObserver

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New Found Intercepts 44.5 g/t Au over 6.85m in 60m Step-Out at Keats Zone, Queensway Project, Newfoundland

PR Newswire

VANCOUVER, BC, Nov. 16, 2020 /PRNewswire/ – New Found Gold Corp. (“New Found” or the “Company“) (TSXV: NFG) (OTC: NFGFF) is pleased to announce initial results from hole NFGC-20-26 at the Keats Zone (“Keats“), drilled as part of the Company’s ongoing 100,000m diamond drill program at its 100% owned Queensway High-Grade Gold Project (“Queensway“), 15km west of Gander, Newfoundland.


Highlights

  • An interval of drill core in Hole NFGC-20-26 displaying abundant quartz veining, sulfides and visible gold was assayed on a rush basis returning 44.5 g/t Au over 6.85m within a longer interval of 11.8 g/t Au over 29.15m, starting at 45 m down hole (note that the exact orientation of the veins is uncertain but believed to be steeply dipping thus implying true widths in the 70% to 80% range of reported drill lengths).
  • The reported interval in NFGC-20-26 is located on fence line 4750N and is approximately 60m south-west of the discovery interval in hole NFGC-19-01 (see Figure 1). Two additional holes have now been completed on fence line 4750N and intervals from these holes have been submitted for assay on a rush basis.
  • The high-grade interval in NFGC-20-26 displays characteristics suggestive of an epizonal orogenic depositional environment.
  • The 10 m step out pattern from NFGC-19-01 roughly centered on fence line 4800N is continuing with ten holes additional to those already reported now completed (Figure 1). Intervals from each of these holes have been submitted or are being prepared for submission for assay on a rush basis.
  • Four holes on fence line 4850N approximately 50m north of NFGC-19-01 have now been completed and intervals from these holes have also been submitted for assay on a rush basis (see Figure 1).

Denis Laviolette President of New Found, stated: “We are delighted to intersect this significant interval of high-grade gold mineralization 60m south of discovery hole NFGC-19-01. Historic work and more recent drilling at Keats have demonstrated gold mineralization over at least 300m of strike and the Keats target remains open in each direction along strike and to depth. We are continuing to drill on grid lines at 50m spacing to the north and south of NFGC-19-01 and anticipate further results from this drilling in the next several weeks.  In addition, the closer spaced drilling around NFGC-19-01 is yielding outstanding results and giving us valuable information about the spatial distribution and geometry of the high-grade gold mineralization. Our recent hole at Lotto Zone 2 km north of Keats (41.2 g/t Au over 4.75m and 25.4 g/t Au over 5.15m) has confirmed the potential for multiple high-grade zones along the 5km of the Appleton Fault Zone that will be grid drilled in our current 100,000m program.”


Drill Collar and Interval Summaries


Hole No.


Azimuth (°)


Dip (°)


Length (m)


UTM E


UTM N


NFGC-20-26

300

-45

269

658151

5427444


Hole No.


From (m)


To (m)


Interval (m)


Au (g/t)


Zone

NFGC-20-26

44.7

73.85

29.15

11.8

Keats Main

Incl.

67.0

73.85

6.85

44.5

Incl.

73.5

73.85

0.35

824

NFGC-20-26

194.4

197.6

3.20

1.09

Keats FW

NFGC-20-26

219.7

222.3

2.60

2.02

Keats FW

Table 1.  Drill hole collar and interval summaries


QA/QC

True widths of the new exploration intercepts reported in this press release have yet to be determined but are estimated to be 70% to 80% of reported core lengths. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cutoff of 1.0 g/t Au. All HQ split core assays reported were obtained by either whole sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia. The whole sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.


Qualified Person

The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P.Geo., Chief Operating Officer and a Qualified Person as defined under National Instrument 43-101.


About New Found Gold Corp

New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. With working capital of approximately C$75 million the Company is well financed for aggressive exploration with an initial planned drill program of 100,000 meters. New Found has a proven capital markets and mining team with major shareholders include Palisades Goldcorp (33%), Eric Sprott (18%), Novo Resources (11%), Rob McEwen (7%), other institutional ownership (8%), and management, directors and insiders (4%). Approximately 65% of the Company’s issued and outstanding shares are subject to escrow or 180-day lock up agreements.

Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.


Acknowledgments

New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.


Contact

To contact the Company please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.

New Found Gold Corp.

Per: “Craig Roberts“

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.

Forward-Looking Statement Cautions:

This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to further the exploration and drilling on the Company’s Queensway gold project in Newfoundland
. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

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SOURCE New Found Gold Corp.

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Xinyuan Real Estate Co., Ltd.’s China Subsidiary Completes the Issue of RMB900 million of Onshore Corporate Bonds in China

PR Newswire

BEIJING, Nov. 16, 2020 /PRNewswire/ — Xinyuan Real Estate Co., Ltd. (“Xinyuan” or “the Company”) (NYSE: XIN), an NYSE-listed real estate developer and property manager operating primarily in China and also in other countries, today announced the closing of the offering of the first tranche of onshore corporate bonds (the “First Tranche Bonds”) with a coupon rate of 8.35%, by Xinyuan (China) Real Estate, Ltd. (the “Issuer”), the Company’s wholly-owned subsidiary that targets the development of residential properties in China.

The issue size of the First Tranche Bonds is RMB900 million (approximately US$135.9 million). The First Tranche Bonds have a term of five years. The Issuer is entitled to raise the coupon rate and the investors are entitled to sell back the First Tranche Bonds at the end of the third year. The Notes were issued at the price of par value of RMB100 and are listed on the Shanghai Stock Exchange.

The First Tranche Bonds were offered outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The First Tranche Bonds have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the First Tranche Bonds, nor a solicitation for an offer to purchase the First Tranche Bonds in the U.S. or any other jurisdiction.

About Xinyuan Real Estate                                 

Xinyuan Real Estate Co., Ltd. (“Xinyuan”) is an NYSE-listed real estate developer and property manager primarily in China and recently in other countries. In China, Xinyuan develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Tianjin, Zhengzhou, Jinan, Qingdao, Chengdu, Xi’an, Suzhou, Dalian, Zhuhai and Foshan. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.

For more information, please contact:

In China:

Xinyuan Real Estate Co., Ltd.
Mr. Charles Wang
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: [email protected]

The Blueshirt Group
Ms. Susie Wang
Mobile: +86 (138) 1081-7475
Email: [email protected]

In the United States:

The Blueshirt Group
Ms. Julia Qian
Email: [email protected]

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SOURCE Xinyuan Real Estate Co., Ltd.