Market Newsdesk

November 12, 2020 8:03 am

cbdMD Releases ‘Premium Relieve’ with Lidocaine, Expanding Upon Diverse Topical Offerings Featuring Superior Broad Spectrum CBD Formula

cbdMD announced today an expansion of its topical product line with the launch of ‘Premium Relieve’, a product that combines the pain-fighting power of Lidocaine with Superior Broad Spectrum CBD extracts – leading to total wellness in one unique topical formula.

PR Newswire

CHARLOTTE, N.C., Nov. 12, 2020 /PRNewswire-PRWeb/ — cbdMD, Inc. (NYSE American: YCBD, YCBD PR A) (the “Company”), one of the leading, and most highly trusted and recognized cannabidiol (CBD) brands, announced today an expansion of its topical product line with the launch of ‘Premium Relieve’, a product that combines the pain-fighting power of Lidocaine with Superior Broad Spectrum CBD extracts – leading to total wellness in one unique topical formula.

Available in a roll-on applicator or spray, Premium Relieve combines the proven powers of Lidocaine (4%) with cbdMD’s Superior Broad Spectrum formula, providing temporary relief from minor muscle aches and pains.

Premium Relieve joins a diverse offering of topical products featuring high profile over-the-counter (OTC) pain relief ingredients fused with cbdMD’s unique hemp extract blend, including:

Premium Freeze Pain Relieving Formula (‘2020 Product of the Year’ Winner: CBD Topical) – cbdMD’s award-winning Freeze gel offers the proven pain-relief properties of menthol, blended with the power of domestically sourced CBD, to provide temporary pain relief while working to ease aching muscles and joints.

Premium Recover Pain Relieving Formula – cbdMD’s Recover combines pain-relieving agent Histamine Dihydrochloride (0.05%) with the whole-body benefits of cbdMD’s Superior Broad Spectrum CBD formula into a unique, richly moisturizing cream that’s great for temporary relief of pain and muscle aches, without any of the smell.

cbdMD’s release of Premium Relieve marks an advancement in the topical market as it is one of the few CBD topicals available in aerosol spray form, utilizing a unique Bag-on-Valve Technology that allows for spraying at any angle and covering difficult-to-reach areas. In addition, Premium Relieve contains the most abundant CBD content of any Lidocaine-infused topical currently on the market.

“Topicals have never been more popular for consumers, with more and more products adding CBD to their formulas these days,” said Ken Cohn, Chief Marketing Officer at cbdMD. “At cbdMD, we’re revolutionizing the topical market by introducing innovative products that continue to lead in each category. With ‘Premium Relieve’, we are proud to now offer an expanded topicals line that is well-rounded and balanced, with broad appeal to not only health-minded individuals, but anyone seeking to enhance their personal wellness.”

To learn more about cbdMD and their comprehensive line of U.S. grown, non-THC1 CBD oil products, please visit: http://www.cbdmd.com.

About cbdMD, Inc.
cbdMD, Inc. is one of the leading, most highly trusted, and most recognized cannabidiol (CBD) brands, whose current products include CBD tinctures, CBD capsules, CBD gummies, CBD topicals, CBD bath bombs and CBD pet products. cbdMD is also a proud partner of Bellator MMA and Life Time, Inc., and has one of the largest rosters of professional sports athletes who are part of “Team cbdMD.” To learn more about cbdMD and our comprehensive line of over 100 SKUs of U.S. produced, Non-THC[1] CBD products, please visit http://www.cbdMD.com, follow cbdMD on Instagram and Facebook, or visit one of the 6,000 retail outlets that carry cbdMD products.

Forward-Looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as ”should,” ”may,” ”intends,” ”anticipates,” ”believes,” ”estimates,” ”projects,” ”forecasts,” ”expects,” ”plans,” and ”proposes.” These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to the expansion of the consumer market for CBD products and our ability to increase our market share, our limited operating history, our ability to expand our business and significantly increase our revenues, our ability to effectively leverage our brand partnerships and sponsorships, our ability to effectively compete in our market, our ability to achieve our net sales guidance, and our ability to report profitable operations in the future. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in cbdMD, Inc.’s Annual Report on Form 10-K for the fiscal year ended September 30, 2019 as filed with the Securities and Exchange Commission (the “SEC”) and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.

1 Non-THC is defined as below the level of detection using validated scientific analytical tools.

Contact:

PR:

cbdMD, Inc.
Lauren Greene
Communications Specialist
[email protected]
(843) 743-9999

Investors:

cbdMD, Inc.
John Weston
Director of Investor Relations
[email protected]
(704) 249-9515

Media Contact

Lauren Greene (PR), cbdMD, (843) 743-9999, [email protected]

John Weston (Investors), cbdMD, (704) 249-9515, [email protected]

SOURCE cbdMD

November 12, 2020 8:03 am

Strong Buyer Competition is Pushing Homes to Sell Above List Price

Sellers are being rewarded amid strong demand for homes as buyers are striking quickly with competitive offers when they find a home they like

– More than one in five homes sold above their list price in September (22.4%), more than in any month since at least January 2018 in another byproduct of incredibly strong buyer demand. That share has grown each month so far this year, pushing well past the typical high point as the market continues to defy seasonal norms.

– Homes priced near the typical U.S. home value appear to be the most sought after, with 28.2% of homes in that price quintile selling above list in September.

– Compared to last year, the share of homes that sold above list in September doubled in Phoenix, San Diego, Denver, Virginia Beach and Riverside.

PR Newswire

SEATTLE, Nov. 12, 2020 /PRNewswire/ — In more evidence that persistent buyer demand is pushing a strong housing market deeper into the year than usual, a new Zillow® analysis finds the share of homes sold above list continues to rise, blowing past the typical mid-summer peak. That is great news for prospective sellers who want to maximize their return from a potential home sale.

In September, 22.4% of homes purchased in the U.S. were sold for more than their initial list price, up from 20.2% in August and well above the roughly 15% of homes that did so during September 2018 and 2019. It is highly unusual for the share of homes sold above list to continue rising this late in the year. In both 2018 and 2019, the share peaked in July during the height of the typical home shopping season before steadily declining as the market cooled in the fall and winter months. This year, the share has increased each month.

Buyer demand has been intense and persistent
since the market picked up speed in April after a dramatic slowdown in the early days of the coronavirus pandemic. Potential buyers may be feeling urgency to lock in low mortgage rates now, especially if they sense prices will slip further from reach in coming years. Many others may be taking advantage of new freedom to telecommute from an area where they can more easily afford a home.

Whatever the reason, strong demand is helping to keep a lid on inventory as homes are being snatched up faster than sellers are listing them. Inventory has continued to fall compared to last year — down 37.4% year over year at the end of October — even as new listings have returned near last year’s level, an indication of heavy sales volume. Homes were typically selling after only 12 days, a full 17 days faster than the same time last year[i]. Those market dynamics are likely pushing buyers to make offers above list price as they expect quick sales and competition from other buyers while choices are limited.

“The housing market is taking us all back to Economics 101 and teaching lessons about supply and demand,” said Zillow senior economist Chris Glynn. “A persistent interest in buying and moving is creating an imbalance that is driving prices higher than we typically see at this time of year. In many cases, buyers in this market should be realistic about the chance of bidding wars and leave themselves financial flexibility by looking at homes listed for less than their maximum price point. With tight inventory, low interest rates, and robust demand from households re-evaluating their housing needs, a strong, competitive market with many transactions is likely here to stay into 2021.”

Bidding wars have been most common for homes priced just above and below the typical U.S. home value of $259,906. Homes priced in the second quintile of all U.S. home listings — between $192,001 and $264,000 — sold above list in 28.2% of September sales. Homes in this price range are also selling incredibly quickly — a recent Zillow analysis of time on market found similarly priced homes typically sold faster than any other price tier in September.

Homes priced in the most-expensive tier — above $487,000 — sold above list 15.7% of the time, the lowest of the five price bands tracked in Zillow’s study. Still, this is the highest share sold above list in this price range in any month since at least January 2018, the earliest month included in the analysis.

Perhaps unsurprisingly, homes that sold in the shortest amount of time — indicative of more-intense competition for these properties — were more likely to sell above list. Of homes that have sold in 10 days or less since 2018, 28.5% sold above list. The longer homes stayed on the market, the less likely they were to sell above list. Even still, about 10.4% of homes during that time that stayed on the market for 60 days or longer before selling went for higher than their list price.

The share of homes sold above list is up from last month and higher than a year ago in each of the 50 largest U.S. metros, and has more than doubled in five of the top 50: Phoenix, San Diego, Denver, Virginia Beach and Riverside.

In today’s competitive housing market, rushing into a home that’s not the best fit and paying more than they can afford are two of the biggest risks that buyers face. Zillow experts recommend making a list of top criteria and trade-offs they’re willing to make, using virtual or 3D Home tours to narrow down your options more quickly than waiting for a showing, and shopping for homes below a buyer’s maximum price point to leave flexibility in case of a bidding war. A trusted local agent can help discuss trade-offs that may be necessary in a given market and help buyers understand what makes a winning offer in their area.

Metropolitan Area	Sold Above List: All Homes (Sept. 2020)	Sold Above List: Bottom Fifth	Sold Above List: Lower- Middle Fifth	Sold Above List: Middle Fifth	Sold Above List: Upper- Middle Fifth	Sold Above List: Top Fifth
United States	22.4%	20.6%	28.2%	25.9%	21.8%	15.7%
New York, NY	21.9%	21.1%	27.1%	25.8%	19.8%	15.8%
Los Angeles, CA	33.0%	36.1%	38.9%	37.3%	32.0%	20.4%
Chicago, IL	14.1%	15.8%	19.7%	15.8%	11.4%	7.8%
Dallas-Fort Worth, TX	19.5%	25.0%	24.3%	19.5%	16.8%	11.9%
Philadelphia, PA	27.6%	21.2%	29.5%	32.5%	32.2%	22.6%
Houston, TX	12.1%	16.8%	15.5%	11.2%	9.2%	7.6%
Washington, DC	35.8%	31.3%	38.0%	42.2%	36.7%	30.6%
Miami-Fort Lauderdale, FL	7.8%	5.1%	9.5%	10.7%	10.0%	4.0%
Atlanta, GA	20.3%	24.5%	27.4%	22.2%	15.9%	11.5%
Boston, MA	40.1%	40.2%	47.3%	45.1%	39.7%	28.1%
San Francisco, CA	48.9%	45.3%	51.3%	51.1%	53.4%	43.2%
Detroit, MI	25.2%	20.1%	34.4%	30.7%	25.0%	15.5%
Riverside, CA	33.4%	27.6%	37.0%	42.7%	37.2%	22.6%
Phoenix, AZ	27.9%	31.7%	35.8%	32.3%	26.1%	13.4%
Seattle, WA	43.6%	49.3%	52.1%	40.9%	39.3%	36.2%
Minneapolis-St. Paul, MN	41.1%	42.3%	53.9%	50.2%	37.9%	21.4%
San Diego, CA	34.4%	36.6%	42.9%	40.8%	32.3%	19.1%
St. Louis, MO	32.3%	21.1%	38.4%	42.7%	34.3%	24.9%
Tampa, FL	15.3%	13.1%	18.0%	19.5%	15.3%	10.8%
Baltimore, MD	29.7%	22.8%	35.1%	35.1%	35.5%	19.8%
Denver, CO	30.3%	27.0%	44.3%	37.1%	24.3%	19.1%
Pittsburgh, PA	24.2%	19.0%	30.1%	30.8%	24.5%	16.9%
Portland, OR	37.0%	36.3%	46.3%	42.9%	35.3%	24.0%
Charlotte, NC	23.4%	27.7%	29.9%	23.6%	19.2%	16.4%
Sacramento, CA	35.3%	36.2%	45.3%	38.2%	32.0%	24.8%
San Antonio, TX	17.9%	23.0%	23.5%	17.1%	14.3%	11.7%
Orlando, FL	12.1%	10.7%	15.0%	15.4%	10.7%	8.6%
Cincinnati, OH	29.5%	31.0%	42.3%	35.2%	25.4%	13.5%
Cleveland, OH	31.6%	23.9%	38.1%	43.0%	33.5%	19.2%
Kansas City, MO	38.4%	37.5%	50.9%	48.6%	32.2%	22.7%
Las Vegas, NV	11.1%	9.0%	14.6%	12.5%	10.8%	8.4%
Columbus, OH	41.4%	40.1%	52.9%	49.3%	40.7%	23.7%
Indianapolis, IN	27.3%	27.9%	42.5%	31.5%	20.7%	13.7%
San Jose, CA	43.1%	27.2%	44.4%	46.8%	52.1%	45.2%
Austin, TX	27.4%	24.4%	28.7%	28.8%	30.6%	24.5%
Virginia Beach, VA	22.2%	22.4%	25.8%	27.5%	20.8%	14.6%
Nashville, TN	19.5%	22.6%	22.8%	18.4%	18.4%	15.3%
Providence, RI	35.5%	34.1%	44.4%	43.3%	37.1%	18.8%
Milwaukee, WI	44.2%	29.3%	51.7%	55.6%	47.5%	36.8%
Jacksonville, FL	12.1%	12.1%	16.4%	13.2%	10.1%	7.7%
Memphis, TN	34.9%	25.6%	44.1%	48.8%	33.7%	22.5%
Oklahoma City, OK	19.3%	26.1%	28.2%	17.2%	16.0%	8.9%
Louisville, KY	25.8%	23.6%	37.4%	32.8%	21.6%	13.6%
Hartford, CT	29.6%	27.7%	38.1%	33.6%	28.1%	20.5%
Richmond, VA	31.8%	33.0%	40.2%	32.9%	29.9%	23.0%
New Orleans, LA	14.3%	15.2%	24.0%	13.9%	13.5%	5.0%
Buffalo, NY	46.3%	32.4%	60.4%	57.3%	50.3%	30.9%
Raleigh, NC	27.8%	38.9%	29.9%	26.8%	23.7%	19.5%
Birmingham, AL	25.4%	23.7%	32.7%	26.8%	24.6%	19.2%
Salt Lake City, UT	37.8%	41.6%	43.0%	46.0%	35.4%	23.2%

*Table ordered by market size

About
Zillow Group

Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life’s next chapter.

As the most-visited real estate website in the U.S., Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Offers® buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans™, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. Zillow recently launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions.

Zillow Group’s affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes, Inc., Trulia®, Out East®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).

[i] Zillow Weekly Market Report, Nov. 5, 2020: https://www.zillow.com/research/zillow-weekly-market-report-27151/

View original content:http://www.prnewswire.com/news-releases/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price-301171797.html

SOURCE Zillow

November 12, 2020 8:03 am

My Size Provides Business Update for the Third Quarter of 2020

PR Newswire

AIRPORT CITY, Israel, Nov. 12, 2020 /PRNewswire/ — My Size, Inc. (the “Company” or “My Size”) (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, today provided a business update for the third quarter ended September 30, 2020. A copy of the Company’s quarterly report on Form 10-Q for the third quarter ended September 30, 2020 has been filed with the Securities and Exchange Commission and posted on the Company’s website at https://ir.mysizeid.com.

Recent Highlights

Revenue for the third quarter of 2020 increased to $88,000 versus $6,000 for the same period last year.
Integrated and launched MySizeID widget for NOCTURNE, a European women’s apparel brand that designs, manufactures, distributes, and sells ready to wear apparel
Integrated MysizeID into e-Commerce platform of Tricorp, a leading European workwear supplier
Launched custom clothing made-to-measure feature for MySizeID

Ronen Luzon, CEO of My Size, Inc., stated, “We are pleased to report an increase in revenue for the third quarter ended September 30, 2020, compared to the same period last year. The increase in revenues during the third quarter was due in part to increased retailer adoption of MySizeID, our turnkey solution that helps consumers choose their appropriate size and fit while shopping online, which, in turn, reduces the retailers’ returns and improves their bottom line.”

“One of our global retailers, Penti, is a great use case example for the value proposition that MySizeID is currently offering to retailers:

Penti reported apparel sales among customers using MySizeID were 3X higher that those customers that did not utilize MySizeID over a three-month period from March to May 2020
Penti also reported returns were reduced by approximately 50% for customers using MySizeID during the same three-month period

We believe these results further validate our technology and its effectiveness in reducing returns and increasing revenue for retailers.”

“During the quarter, we integrated the MySizeID widget for NOCTURNE, a European women’s apparel brand that designs, manufactures, distributes, and sells ready to wear apparel, as well as TriCorp, a leading European workwear supplier. Both retailers view MySizeID as a significant value proposition, as MySizeID improves retailers’ revenues, lowers their operating costs, while improving the consumer’s shopping experience and enhancing sustainability. We also announced that we launched a Made-to-Measure (M2M) feature, which allows retailers to receive customers’ body measurements instead of a size, in order to make custom-made clothing. We believe the future of the retail industry is headed towards made-to-measure fashion and our goal is to be at the forefront of innovation. Our initial pilots using the M2M feature with several retailers has been encouraging and we look forward to rolling out this feature with additional retailers.”

“We are operating in a challenging environment as the heavily hit retail industry is reeling from the effects of COVID-19 and despite our progress over the past year, this has slowed our market penetration. Based on current estimates, we believe that we will reach at least 10 million size recommendations over the course of 2020. Nevertheless, we believe these impacts are temporary, and we remain optimistic about our growth strategy for next year, as we build our sales pipeline, add leading retailers and pursue new international markets for both MySizeID and BoxSize.”

For the latest news coverage, please follow the Company on Facebook, LinkedIn, Instagram and Twitter.

About My Size, Inc.

My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications including the apparel, e-commerce, DIY, shipping and parcel delivery industries. This proprietary measurement technology is driven by several algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about My Size, please visit our website: www.mysizeid.com. We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.

Own a fashion store and want to increase sales as well? Click here

Please click here to download MySizeID for iOS.

Please click here to download MySizeID for Android.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

U.S. Press Contact:
Strauss Communications
[email protected]
www.strausscomms.com

IR Contact:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: [email protected]

View original content:http://www.prnewswire.com/news-releases/my-size-provides-business-update-for-the-third-quarter-of-2020-301171756.html

SOURCE My Size Inc.

November 12, 2020 8:03 am

UATP Forms Partnership With Fly Now Pay Later To Offer Travelers Installment Payment Plans

Installment payments allow travelers to plan the perfect trip while paying over a scheduled length of time.

PR Newswire

WASHINGTON, Nov. 12, 2020 /PRNewswire/ — UATP today announced a new strategic partnership with Fly Now Pay Later (FNPL) to give travelers the opportunity to purchase travel via installment plans. The UATP-FNPL partnership allows travelers to instantly spread the cost of their travel plans over time, making those once distant-thought travel plans, now a reality.

“The ‘Buy Now Pay Later’ concept is revolutionizing travel planning as a simpler alternative to financing pricier flights. Our platform benefits the traveler that is eager to get away, and collaborating with UATP will allow for a more seamless implementation,” Jasper Dykes, founder and CEO, Fly Now Pay Later. “Using travel and credit data, we provide leading airlines with a world class customer experience by offering an instant financing solution from as little as 0% APR.”

A recent poll with Airline Information showed that 38% of travelers have installment payments on their roadmap. Additionally, the Worldpay 2020 Global Payments Report stated that this payment method consisted of 8% of all eCommerce transactions in 2019 and is forecasted to double that that growth by 2023. The global partnership between UATP and Fly Now Pay Later, focusing on leisure travelers in Europe, will allow travelers to capitalize on the benefits of installment payment solutions and help remove the basket anxiety associated with upfront costs. Additionally, there are no hidden fees, compounded interest, or early settlement costs. Travelers receive full protection when purchasing through this process and will have access to a coordinated payment schedule to use as a budgeting tool.

“The UATP-FNPL partnership brings yet another option to travelers, and fulfills the demand the marketplace is asking for,” Ralph Kaiser, president and CEO, UATP. “Airlines will receive the full price of the booking upfront while not taking on any of the risk. The structured installment payments can also lead to increased ancillary revenue and help to ensure maximum conversion at checkout.”

For more information, visit UATP.com.

ABOUT UATP

UATP is a global payment network owned and operated by the world’s airlines and accepted by thousands of merchants for air, rail and travel agency payments. UATP connects airlines to Alternative Forms of Payment which can expand reach and generate incremental sales globally. UATP offers easy-to-use data tools, DataStream^® and DataMine^®, which provide comprehensive account details to Issuers and corporate travel buyers for accurate travel management.

Accepted as a form of payment for corporate business travel worldwide by airlines, travel agencies and Amtrak^®; UATP accounts are issued by: Aeromexico; Air Canada (TSE:AC); Air China; Air New Zealand (ANZFF.PK); Air Niugini; Air Serbia; American Airlines (NASDAQ: AAL); APG Airlines; Austrian Airlines; BCD Travel; China Eastern Airlines (NYSE: CEA); Delta Air Lines (NYSE: DAL); EL AL Israel Airlines; Etihad Airways; Fareportal; Frontier Airlines; GOL Linhas aereas inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4); Hahn Air; High Point; Japan Airlines (9201:JP); JetBlue Airways; Qantas Airways (QUBSF.PK); Shandong Airlines; Sichuan Airlines; Southwest Airlines; Sun Country Airlines; TUIfly GmbH; Turkish Airlines (ISE:THYAO); United Airlines (NYSE: UAL) and WestJet.

AirPlus International issues the UATP-based Company Account for Lufthansa German Airlines.

ABOUT FLY NOW PAY LATER

Fly Now Pay Later is an alternative payment provider specializing solely on the travel industry.
Fly Now Pay Later mission is to help global travel businesses increase their sales by enabling them to offer their customers financial flexibility at checkout.
With a bespoke payment solution, travel providers can now help their customers split the cost of their holiday in flexible monthly installments from 0% APR.

Contact:

UATP Corporate Communications
Wendy Ward, [email protected]
+1 202 250 4665

View original content to download multimedia:http://www.prnewswire.com/news-releases/uatp-forms-partnership-with-fly-now-pay-later-to-offer-travelers-installment-payment-plans-301170483.html

SOURCE UATP

November 12, 2020 8:03 am

Construction Collaboration Tech Oracle Aconex for Defense Earns FedRAMP Moderate Authorization

U.S. Department of Defense and its industry partners can now tap the cloud-based solution to unite teams and deliver quality projects more efficiently

PR Newswire

REDWOOD SHORES, Calif., Nov. 12, 2020 /PRNewswire/ — Oracle Aconex for Defense has received Federal Risk and Authorization Management Program (FedRAMP) Moderate authorization. Now, U.S. Department of Defense (DoD) agencies and their delivery partners can use the solution to streamline construction project management.

Oracle Aconex for Defense is a high compliance security-approved instance of Oracle Aconex, a secure cloud-based platform that improves project collaboration by connecting teams and information in a common data environment (CDE). Oracle Aconex for Defense provides highly secure information management, reporting, and workflow automation to drive efficiency, visibility, and control across project processes.

FedRAMP provides a standard approach to security assessment, authorization, and continuous monitoring for cloud products and services (CSPs) used by the U.S. Federal government and its partners. The U.S. Army Corps of Engineers (USACE) recently provided the formal authorization for use of Oracle Aconex for Defense. The solution is the first construction project information management and collaboration software to reach this achievement.

The USACE’s FedRAMP Moderate Authorization of Oracle Aconex for Defense signals our:

Continued investment and commitment to providing purpose-built commercial off-the-shelf industry applications for federal defense agencies; and
Support of the DoD’s ongoing commitment to IT modernization in the cloud, data security, data management, and knowledge management, among other initiatives.

“Our first FedRAMP authorization is a significant milestone for Oracle Construction and Engineering, as we are dedicated to providing cloud solutions to support the U.S. federal government’s overarching goal of modernizing its technology infrastructure,” said Mark Webster, senior vice president and general manager, Oracle Construction and Engineering. “We look forward to supporting the USACE and their customers, partners and sister agencies as they work together to deliver vital projects.”

About Oracle Construction and Engineering
Asset owners and project leaders rely on Oracle Construction and Engineering solutions for the visibility and control, connected supply chain, and data security needed to drive performance and mitigate risk across their processes, projects, and organization. Our scalable cloud construction management software solutions enable digital transformation for teams that plan, build, and operate critical assets, improving efficiency, collaboration, and change control across the project lifecycle. www.oracle.com/construction-and-engineering.

About Oracle
The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.

Trademarks
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SOURCE Oracle

November 12, 2020 8:03 am

FCA Wins Back-to-Back ‘Corporation of the Year’ Honors From the National Minority Supplier Development Council

PR Newswire

AUBURN HILLS, Mich., Nov. 12, 2020 /PRNewswire/ —

Award recognizes company’s leadership in expanding opportunities for minority suppliers
FCA now tracking spend with LGBTQ- and disable-owned enterprises
More than $80 billion purchased from minority-owned, women-owned and veteran-owned suppliers since 1983

FCA was named National Minority Supplier Development Council’s (NMSDC) Class IV “Corporation of the Year” at the 2020 National Conference and Business Opportunity Exchange held virtually on Oct 29. This is the second year in a row FCA has received this award.

The award recognizes the company’s exceptional strength in areas critical to minority supplier development and inclusion. Since 1983, the company has purchased more than $80 billion from diverse suppliers.

“FCA is committed to maintaining a diverse and inclusive business environment in which all people and ideas are welcome, appreciated and respected,” said Martin Horneck, Head of Purchasing and Supply Chain Management, FCA – North America. “That same commitment extends to our purchasing organization where we continue to drive access, growth and development opportunities for diverse business owners. Thank you to the NMSDC for acknowledging our team’s diligence and creativity to achieve this mission.”

FCA was the only automaker in 2020 to continue its long-standing supplier diversity MatchMaker event, hosting it virtually on Sept. 17. Attended by more than 150 exhibitors, 600 attendees and 100 FCA decision makers, the 21st annual MatchMaker program also included an awards ceremony honoring FCA suppliers that demonstrate leadership, passion and commitment to building robust supplier diversity programs.

MatchMaker has generated more than $4 billion in new business opportunities for minority-owned, including women, veterans, LGBTQ and disabled, and small businesses since its inception in 1999.

The company’s supplier diversity goals require that up to 12.5 percent of a tier-one supplier spend be sourced to certified minority-owned, women-owned and veteran-owned businesses. FCA is now also tracking spend among LGBTQ- and disable-owned enterprises.

Since 1983, the company has purchased more than $80 billion from minority- , women- and veteran-owned suppliers. In 2019, FCA in North America spent more than $8 billion with 300-plus diverse suppliers and received the following honors for its supplier diversity efforts:

Benchmark Corporation of the Year from Rainbow Push Coalition
Corporation of the Year from the National Minority Supplier Diversity Council
Supplier Excellence Award from the Great Lakes Women Business Council
Top Corporation Gold Award from the Women’s Business Enterprise National Council
President’s Award from Canadian Aboriginal and Minority Supplier Council

For more information or to register your diverse business, visit supplierdiversityfca.com.

FCA

Fiat Chrysler Automobiles (FCA) is a global automaker that designs, engineers, manufactures and sells vehicles in a portfolio of exciting brands, including Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep®, Lancia, Ram and Maserati. It also sells parts and services under the Mopar name and operates in the components and production systems sectors under the Comau and Teksid brands. FCA employs nearly 200,000 people around the globe. For more details regarding FCA (NYSE: FCAU/ MTA: FCA), please visit www.fcagroup.com.

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SOURCE FCA

November 12, 2020 8:03 am

American Cannabis Company, Inc. Announces Approval of Operator’s License by Colorado’s Marijuana Enforcement Division (MED)

DENVER, CO, Nov. 12, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC” or “Company”), a full-service business-to-business cannabis and hemp consulting solutions provider, is pleased to announce its approval for an Operator’s License by Colorado’s Marijuana Enforcement Division (MED).

On November 10, 2020, Colorado’s Marijuana Enforcement Division (MED), approved the Company’s application for an Operator’s License, allowing it to now manage and operate both recreational and medical cannabis operations throughout Colorado. This recent approval is key in the Company’s plan to effectively roll out its management services to operators who seek to improve their overall business efficiencies. In addition to this approval for an Operator’s License, the Company recently received MED approval for a Suitability License, establishing the Denver-based company as one of the few publicly traded companies authorized to acquire and operate various cannabis licenses throughout Colorado.

Terry Buffalo, Chief Executive Officer of American Cannabis Company, commented, “We are happy to now have the ability to deploy our operational management platform across the Colorado market as we seek to continually expand our service offerings. We provide our suite of management services to those who may need guidance in various areas of business related to cultivation, retail or extraction operations. In having secured both suitability and operators licenses within Colorado, we now have a multi-pronged approach in advancing our brand forward in this market. As we effectively work to implement our growth strategies, we will actively deploy our management platform while continuing to pivot our business model and advance brand expansion efforts by looking at multiple operational acquisition opportunities.”

About American Cannabis Company, Inc.

American Cannabis Company, Inc. offers end-to-end solutions to existing and aspiring participants in the cannabis and hemp industries. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. We are continuing to grow the Company by promoting our operational management services, and license the American Cannabis Company brand, as well as continuing to analyze acquisition opportunities worldwide. American Cannabis Company also developed and owns a portfolio of branded products including: SoHum Living Soils® – Winner of the High Times S.T.A.S.H Award for “Best Potting Mix”, The Cultivation Cube™ and the High-Density Cultivation System™. We also design and provide other industry specific custom product solutions.

For more information, please visit:

www.theacclife.com

www.americancannabisconsulting.com

www.americancannabiscompanyinc.com

www.sohumsoils.com

www.americanhempservices.com

Video Links:

https://americancannabisconsulting.com/resources/video/ (ACC Site)

https://www.youtube.com/watch?v=aENC4aeNZis (High Density Cultivation System)

https://www.youtube.com/watch?v=e9rNxFph_tQ&t (Cultivation Cube)

https://www.youtube.com/watch?v=XoIcopO2yE8&t (SoHum Living Soils®)

Forward Looking Statements

This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based drugs. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time to time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.

Cannabis Remains an Illegal Schedule 1 Drug Under Federal Law

Cannabis and its derivatives are considered illegal “Schedule 1” drugs under the Controlled Substances Act (21 U.S.C. § 811). As such, Cannabis and its derivatives are viewed as being highly addictive and having no medical value. The United States Drug Enforcement Agency enforces the Controlled Substances Act, and persons violating it are subject to federal criminal prosecution. The criminal penalty structure in the Controlled Substances Act is determined based on the specific predicate violations, including but not limited to: simple possession, drug trafficking, attempt and conspiracy, distribution to minors, trafficking in drug paraphernalia, money laundering, racketeering, environmental damage from illegal manufacturing, continuing criminal enterprise, and smuggling. A first conviction under the Controlled Substances Act can generally result in possible fines from $250,000 to $50 million dollars, and incarceration for periods generally from five and up to forty years. For a second conviction, fines increase generally from $500,000 to $75 million dollars, and incarceration for periods generally from ten years to twenty years to life.

Contact:

[email protected]

303-974-4770

November 12, 2020 8:03 am

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Peabody Energy Corporation – BTU

NEW YORK, Nov. 12, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Peabody Energy Corporation (“Peabody” or the “Company”) (NYSE: BTU). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Peabody and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On September 28, 2018, a fire occurred at Peabody’s North Goonyella coal mine in Central Queensland, Australia, forcing Peabody to suspend its operations indefinitely. On this news, Peabody’s stock price fell $5.54 per share, or 15.3%, to close at $35.64 per share on September 28, 2018.

On February 6, 2019, Peabody disclosed that contrary to the Company’s previous statements, production at the North Goonyella would not resume in 2019, but was instead targeted to begin to ramp in the early months of 2020. On this news, Peabody’s stock price fell $3.80 per share, or 10.6%, to close at $32.05 per share on February 6, 2019.

On May 1, 2019, Peabody reported that it had received a directive from the Queensland Mines Inspectorate (“QMI”) which could lead to further delays and necessitate a reevaluation of the Company’s reentry plan for the mine. On this news, Peabody’s stock price fell $1.61 per share, or 5.6%, to close at $27.16 per share on May 1, 2019.

On July 31, 2019, Peabody reported additional delays to the reentry of North Goonyella, explaining that QMI’s requirements had resulted in a slower rate of progress than Peabody’s initial plan had contemplated. As a results, Peabody suspended its 2020 production guidance at the mine and informed investors that it was reevaluating its entire reentry plan. On this news, Peabody’s stock price fell $1.06 per share, or 4.8%, to close at $21.06 per share on July 31, 2019.

On August 9, 2019, QMI released preliminary investigative findings indicating that Peabody had deficient safety systems in place at its North Goonyella mine and that the Company was not cooperating fully with QMI’s investigation. On this news, Peabody’s stock price fell $0.37 per share, or 2%, to close at $18.13 per share on August 9, 2019.

Finally, on October 29, 2019, Peabody disclosed that QMI was placing stringent restrictions on restarting operations at the North Goonyella mine, forcing Peabody to drastically adjust its reentry plan, ultimately announcing that there would be a delay of at least three years before any meaningful coal could be produced at the North Goonyella mine. On this news, Peabody’s stock price fell $3.56 per share, or 22.19%, to close at $12.48 per share on October 29, 2019.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

November 12, 2020 8:03 am

Fictiv Debuts Design for Manufacturability (DfM) Masterclass

Three-part engineering Masterclass series shows engineers how to minimize CNC machining challenges and design parts for optimal production quality, speed, and cost

SAN FRANCISCO, Nov. 12, 2020 (GLOBE NEWSWIRE) — Designing products for optimal user experiences, minimum manufacturing effort, and potential regulatory compliance is a difficult balancing act, especially within a COVID-19 work-from-home environment and amidst trade and political uncertainties. To help engineers navigate these considerations and deliver optimal product designs, Fictiv today unveiled its first Masterclass: DFM for CNC machining.

“The key to bringing a new product to market quickly and affordably is understanding how design choices directly lead to effort in manufacturing,” said Dave Evans, CEO and Co-founder of Fictiv. “Without careful consideration, it’s easy to get locked in early to a design that is higher cost and takes longer to manufacture. We created this DfM Masterclass series to provide engineers with key, proven insights for minimizing challenges and maximizing opportunity.”

Developed using industry best practices and with extensive input from Fictiv manufacturing engineers and experienced mechanical product design experts, this three-part engineering Masterclass provides an updated take on and shares new insights into modern DfM strategies and techniques.

“The course is designed specifically with robotics, aerospace, and medical device product designers in mind because part complexity in those sectors can increase manufacturing effort exponentially,” continued Evans. “It’s critical that engineers within these industries acquire an understanding of how manufacturing effort scales with complexity and how to reduce effort as much as possible given the design requirements.”

Course participants will learn:

The “effort” model for understanding how five key design parameters impact cost, lead time, and risk;
Key design rules for least effort, including tolerance, part geometry, part size, materials, and look and feel;
Techniques for reducing effort while still fulfilling design requirements;
Reducing effort in complex designs specific to the aerospace, medical, and robotics industries;
When to transition from CNC machining to another manufacturing process;
Optimal materials for least effort CNC machining across plastics, soft metals, and hard metals.

In conjunction with the online Masterclass, Fictiv is also hosting a three-part webinar series that provides Masterclass students with additional opportunities to engage and discuss DfM issues with a panel of experts.

Upon completing the class, participants can test their mastery by completing a Knowledge Test to earn a Masterclass badge, which can be proudly displayed on their resumes and LinkedIn profiles.

To register for the class or associated webinars, please visit: https://www.fictiv.com/masterclass/dfm-for-cnc-masterclass

About
Fictiv

Fictiv offers manufacturing agility and speed through a portfolio of optimized manufacturing processes for hardware companies of all sizes. Its Digital Manufacturing Ecosystem combines an easy-to-use cloud platform; design, quoting, billing and logistics systems; and an intelligent orchestration engine that manages a network of highly vetted and monitored manufacturing partners that together deliver high-quality mechanical parts at unprecedented speeds. The ecosystem is supported by “boots-on-the-ground” experts to manage programs, inspect quality, and provide DfM guidance along the way. Over the last six years, Fictiv has manufactured more than 10M parts for early-stage companies and large enterprises alike, helping them innovate with agility and increase supply chain predictability. www.fictiv.com

Media Contacts:

Stephanie Hicks
Cosmo PR for Fictiv
(805) 295-9455
[email protected]

November 12, 2020 8:03 am

Northern Technologies International Corporation Reports Financial Results for Fiscal 2020

MINNEAPOLIS, Minn., Nov. 12, 2020 (GLOBE NEWSWIRE) — Northern Technologies International Corporation (NASDAQ: NTIC), a leading developer of corrosion inhibiting products and services, as well as bio-based and biodegradable polymer resin compounds, today reported its financial results for the fourth quarter and fiscal year ended August 31, 2020.

Full year fiscal 2020 financial and operating highlights include (with growth rates on a fiscal year-over-year basis):

NTIC’s fourth quarter and full year financial results impacted by the ongoing COVID-19 pandemic
Consolidated net sales decreased 14.5% to $47,639,000
ZERUST® net sales decreased 9.7% to $34,475,000
ZERUST® oil and gas net sales increased 2.0% to $2,783,000
NTIC China net sales increased 2.9% to a record $13,410,000
Natur-Tec® net sales decreased 25.1% to $13,164,000
Joint venture operating income decreased 31.4% to $8,883,000
Net income attributable to NTIC decreased to a net loss attributable to NTIC of $1,338,000
Net income per diluted share attributable to NTIC decreased to a net loss of $0.15 per diluted share
Net income attributable to NTIC for the 2020 fiscal year included a one-time $1.6 million non-cash adjustment to the company’s U.S. deferred tax asset
Consolidated balance sheet at August 30, 2020 was strong with no debt, total cash and cash equivalents of $6,403,000 and available for sale securities of $5,545,000

“Our fourth quarter and full year financial results reflect our ability to navigate the extraordinarily challenging market conditions created by the COVID-19 pandemic. Our experienced management team, strong balance sheet, leading technologies, and our long-term diversification strategies have been key to our ability to operate in current market conditions. Since March of 2020, we’ve been focused on safely providing uninterrupted service to our worldwide customers, and I am encouraged by the rebounding sales trend we experienced in both the fourth quarter of fiscal 2020, as well as the start of fiscal 2021,” said G. Patrick Lynch, President and Chief Executive Officer of NTIC.

“NTIC China achieved record sales for fiscal 2020, despite earlier COVID-19 shutdowns during the fiscal year. NTIC China fourth quarter sales were up 2.7% over the prior year period and increased 11.2% from the fiscal 2020 third quarter. We believe the growth we are experiencing at NTIC China is due to new customer development efforts and our successful expansion into non-automotive markets. In addition, fourth quarter 2020 ZERUST® oil & gas sales grew 53.5% over the prior year period and were up 81.4% from the fiscal 2020 third quarter. We are successfully growing our ZERUST® oil & gas pipeline and storage tank solutions with new and existing customers, and we believe we are well positioned for additional opportunities within the oil & gas market in fiscal 2021,” continued Mr. Lynch.

“The COVID-19 crisis disproportionately impacted our core ZERUST® industrial and emerging Natur-Tec businesses in fiscal 2020, as many of our global customers and end users in these markets operated at significantly lower capacities or remained closed altogether. While the timing and pace of the economic recovery remains uncertain, I am encouraged by the direction we are headed and NTIC’s compelling position within large, growing, and global markets. I am proud of how NTIC and our joint venture partners have responded throughout this challenging period and excited by the new business opportunities we continue to uncover,” concluded Mr. Lynch.

NTIC’s consolidated net sales decreased 25.4% to $10,029,000 during the three months ended August 31, 2020, compared to $13,448,000 for the three months ended August 31, 2019. The continued global economic slowdown, as a result of the COVID-19 crisis, significantly reduced demand across the company’s global customer base. For the full year ended August 31, 2020, consolidated net sales decreased 14.5% to $47,639,000, compared to $55,750,000 for the same period last fiscal year.

The following tables set forth NTIC’s net sales by product category for the three months and fiscal year ended August 31, 2020 and 2019 by segment:

	Three Months Ended August 31,
		2020	% of Net Sales			2019	% of Net Sales		% Change
ZERUST^® industrial net sales	$	6,914,040	68.9	%	$	7,957,148	59.2	%	(13.1	)%
ZERUST^® joint venture net sales		467,649	4.7	%		464,999	3.5	%	0.6	%
ZERUST^® oil & gas net sales		770,331	7.7	%		501,793	3.7	%	53.5	%
Total ZERUST^® net sales	$	8,152,020	81.3	%	$	8,923,940	66.4	%	(8.6	)%
Total Natur-Tec^® net sales		1,876,666	18.7	%		4,523,624	33.6	%	(58.5	)%
Total net sales	$	10,028,686	100.0	%	$	13,447,564	100.0	%	(25.4	)%

	Fiscal Year Ended August 31,
		2020	% of Net Sales			2019	% of Net Sales		% Change
ZERUST^® industrial net sales	$	29,719,015	62.4	%	$	32,839,875	58.9	%	(9.5	)%
ZERUST^® joint venture net sales		1,972,646	4.1	%		2,607,554	4.7	%	(24.3	)%
ZERUST^® oil & gas net sales		2,782,874	5.8	%		2,727,283	4.9	%	2.0	%
Total ZERUST^® net sales	$	34,474,535	72.4	%	$	38,174,712	68.5	%	(9.7	)%
Total Natur-Tec^® net sales		13,164,157	27.6	%		17,575,425	31.5	%	(25.1	)%
Total net sales	$	47,638,692	100.0	%	$	55,750,137	100.0	%	(14.5	)%

NTIC’s joint venture operating income decreased 37.0% to $1,925,000 during the three months ended August 31, 2020, compared to joint venture operating income of $3,057,000 during the three months ended August 31, 2019. This decrease was attributable to a corresponding reduction in total net sales of the joint ventures as fees for services provided to joint ventures are primarily a function of the net sales of NTIC’s joint ventures, which decreased 35.4% to $18,498,000 during the three months ended August 31, 2020, compared to $28,632,000 for the three months ended August 31, 2019. For fiscal year 2020, NTIC’s joint venture operating income decreased 31.4% to $8,883,000, compared to joint venture operating income of $12,953,000 during the full year ended August 31, 2019. Net sales of NTIC’s joint ventures decreased 24.1% to $87,030,000 during the full year ended August 31, 2020, compared to $114,635,000 for the full year ended August 31, 2019.

Operating expenses, as a percent of net sales, for the fourth quarter of fiscal 2020 were 53.0%, compared to 46.6% for the same period last fiscal year. On a dollar basis, fourth quarter operating expenses declined 15.3% because of reduced selling, general and administrative expenses. For the full year, operating expenses, as a percent of net sales, were 49.0%, compared to 43.3% for the same period last fiscal year.

The company reported a net loss attributable to NTIC for the fourth quarter of fiscal 2020 of $1,765,000, or a loss of $0.19 per diluted share, compared to net income attributable to NTIC of $829,000, or $0.09 per diluted share, for the same period last fiscal year. For the full year ended August 31, 2020, net loss attributable to NTIC was $1,338,000, or $0.15 per diluted share, compared $5,210,000 in net income attributable to NTIC, or $0.55 per diluted share, for last fiscal year. Net loss attributable to NTIC for the fourth quarter and fiscal year of fiscal 2020 included a one-time $1.6 million non-cash adjustment to the company’s U.S. deferred tax asset, which was required to remove the net U.S. deferred tax asset from NTIC’s balance sheet.

NTIC’s balance sheet remains strong, with no debt, and working capital of $27,105,000 at August 31, 2020, including $6,403,000 in cash and cash equivalents and $5,545,000 in available for sale securities, compared to $25,461,000 of working capital at August 31, 2019, including $5,857,000 in cash and cash equivalents and $3,565,000 in available for sale securities.

At August 31, 2020, the company had $24,091,000 of investments in joint ventures, of which $14,163,000 or 58.8%, is cash, with the remaining balance primarily invested in other working capital.

Conference Call and Webcast

NTIC will host a conference call today at 8:00 a.m. Central Time to review its results of operations for the fourth quarter and full fiscal year of 2020 and its outlook, followed by a question and answer session. The conference call will be available to interested parties through a live audio webcast available through NTIC’s website at www.ntic.com or https://ntic.gcs-web.com/events-presentations where the webcast will be archived and accessible for at least 12 months. The dial-in number for the conference call is (877) 670-9776 and the confirmation code is 4094075.

About Northern Technologies International Corporation

Northern Technologies International Corporation develops and markets proprietary environmentally beneficial products and services in over 60 countries either directly or via a network of subsidiaries, joint ventures, independent distributors and agents. NTIC’s primary business is corrosion prevention marketed primarily under the ZERUST^® brand. NTIC has been selling its proprietary ZERUST^® rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets for over 40 years and in recent years has targeted and expanded into the oil and gas industry. NTIC offers worldwide on-site technical consulting for rust and corrosion prevention issues. NTIC’s technical service consultants work directly with the end users of NTIC’s products to analyze their specific needs and develop systems to meet their technical requirements. NTIC also markets and sells a portfolio of bio-based and biodegradable polymer resins and finished products marketed under the Natur-Tec^® brand.

Forward-Looking Statements

Statements contained in this release that are not historical information are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include NTIC’s belief that it is well positioned for additional opportunities within the oil & gas market in fiscal 2021 and other statements that can be identified by words such as “believes,” “continues,” “expects,” “anticipates,” “intends,” “potential,” “outlook,” “will,” “may,” “would,” “should,” “guidance” or words of similar meaning, the use of future dates and any other statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of NTIC’s management and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied. Such potential risks and uncertainties include, but are not limited to, in no particular order: the effects of the COVID-19 pandemic on NTIC’s business and operating results; the ability of NTIC to pay dividends; the effect of economic uncertainty and trade disputes; NTIC’s dependence on the success of its joint ventures and fees and dividend distributions that NTIC receives from them; NTIC’s relationships with its joint ventures and its ability to maintain those relationships; NTIC’s dependence on its joint venture in Germany in particular due to its significance and the effect of a termination of this or its other joint ventures on NTIC’s business and operating results; the ability of NTIC China to achieve significant sales; costs and expenses incurred by NTIC in connection with its ongoing litigation against its former Chinese joint venture partner; the effect of the United Kingdom’s proposed exit from the European Union, economic slowdown and political unrest; risks associated with NTIC’s international operations; exposure to fluctuations in foreign currency exchange rates and tariffs, including in particular the Euro compared to the U.S. dollar; the health of the U.S. and worldwide economies, including in particular the U.S. automotive industry; the level of growth in NTIC’s markets; NTIC’s investments in research and development efforts; acceptance of existing and new products; timing of NTIC’s receipt of purchase orders under supply contracts; variability in sales to customers in the oil and gas industry and the effect on NTIC’s quarterly financial results; increased competition; the costs and effects of complying with changes in tax, fiscal, government and other regulatory policies, including the new tax reform law, which could result in a write-down of our deferred tax assets, and rules relating to environmental, health and safety matters; pending and potential litigation; and NTIC’s reliance on its intellectual property rights and the absence of infringement of the intellectual property rights of others. More detailed information on these and additional factors which could affect NTIC’s operating and financial results is described in the company’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended August 31, 2019 and subsequent quarterly reports on Form 10-Q, and its annual report on Form 10-K for the fiscal year ended August 31, 2020 to be filed with the SEC. NTIC urges all interested parties to read these reports to gain a better understanding of the many business and other risks that the company faces. Additionally, NTIC undertakes no obligation to publicly release the results of any revisions to these forward-looking statements, which may be made to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.

NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION
AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS – AUGUST 31, 2020 AND 2019

		August 31, 2020			August 31, 2019
ASSETS
CURRENT ASSETS:
	Cash and cash equivalents	$	6,403,032		$	5,856,758
	Available for sale securities		5,544,722			3,565,258
	Receivables:
	Trade excluding joint ventures, less allowance for doubtful accounts
	of $90,000 as of August 31, 2020 and $65,000 as of August 31, 2019		8,072,212			9,779,518
	Trade joint ventures		475,900			824,473
	Fees for services provided to joint ventures		927,286			1,268,000
	Income taxes		19,907			457,018
	Inventories		10,961,796			10,488,728
	Prepaid expenses		797,495			1,062,609
	Total current assets		33,202,350			33,302,362

PROPERTY AND EQUIPMENT, NET			7,110,789			7,358,159

OTHER ASSETS:
	Investments in joint ventures		24,090,826			24,207,339
	Deferred income taxes		209,729			1,634,258
	Patents and trademarks, net		802,006			1,008,969
	Operating lease right of use asset		658,788			—
	Total other assets		25,761,349			26,850,566
	Total assets	$	66,074,488		$	67,511,087

LIABILITIES AND EQUITY
CURRENT LIABILITIES:
	Accounts payable	$	3,205,241		$	4,505,531
	Income taxes payable		310,922			6,759
	Accrued liabilities:
	Payroll and related benefits		1,314,978			1,857,971
	Other		880,118			1,471,532
	Current portion of operating lease		386,345			—
	Total current liabilities		6,097,604			7,841,793
	LONG-TERM LIABILITIES:
	Operating lease, less current portion		272,443			—
	Total long-term liabilities		272,443			—


COMMITMENTS AND CONTINGENCIES
EQUITY:
	Preferred stock, no par value; authorized 10,000 shares; none issued and outstanding		—			—
	Common stock, $0.02 par value per share; authorized 15,000,000
	shares as of August 31, 2020 and August 31, 2019; issued and outstanding 9,099,990 and 9,086,816, respectively		182,000			181,736
	Additional paid-in capital		17,415,043			16,013,338
	Retained earnings		42,472,810			44,992,719
	Accumulated other comprehensive loss		(3,410,438	)		(4,593,178	)
	Stockholders’ equity		56,659,415			56,594,615
	Non-controlling interests		3,045,026			3,074,679
	Total equity		59,704,441			59,669,294
	Total liabilities and equity	$	66,074,488		$	67,511,087


NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
FOR THE THREE AND TWELVE MONTHS ENDED AUGUST 31, 2020 AND 2019

	Three Months Ended						Twelve Months Ended
	August 31, 2020			August 31, 2019			August 31, 2020			August 31, 2019
NET SALES:
Net sales, excluding joint ventures	$	9,561,036		$	13,144,465		$	45,666,045		$	53,142,583
Net sales, to joint ventures		467,649			303,099			1,972,646			2,607,554
Total net sales		10,028,685			13,447,564			47,638,691			55,750,137
Cost of goods sold		6,617,787			9,086,655			31,609,274			37,970,244
Gross profit		3,410,898			4,360,909			16,029,417			17,779,893

JOINT VENTURE OPERATIONS:
Equity in income of joint ventures		803,746			1,628,730			4,270,327			7,225,518
Fees for services provided to joint ventures		1,121,641			1,428,547			4,612,885			5,727,579
Total joint venture operations		1,925,387			3,057,277			8,883,212			12,953,097

OPERATING EXPENSES:
Selling expenses		2,171,761			2,890,929			10,656,689			10,968,592
General and administrative expenses		2,079,957			2,363,033			8,688,309			9,349,559
Research and development expenses		1,061,292			1,017,331			3,979,455			3,822,070
Total operating expenses		5,313,010			6,271,293			23,324,453			24,140,221

OPERATING INCOME		23,275			1,146,893			1,588,176			6,592,769

INTEREST INCOME		151,852			26,234			167,733			78,257
INTEREST EXPENSE		(16,034	)		(2,210	)		(16,034	)		(13,567	)

INCOME BEFORE INCOME TAX EXPENSE		159,093			1,170,917			1,739,875			6,657,459

INCOME TAX EXPENSE		1,804,690			189,506			2,674,635			841,837

NET (LOSS) INCOME		(1,645,597	)		981,411			(934,760	)		5,815,622

NET INCOME ATTRIBUTABLE TO NON- CONTROLLING INTERESTS		119,275			152,565			402,949			606,000

NET (LOSS) INCOME ATTRIBUTABLE TO NTIC	$	(1,764,872	)	$	828,846		$	(1,337,709	)	$	5,209,622

NET (LOSS) INCOME ATTRIBUTABLE TO NTIC PER COMMON SHARE:
Basic	$	(0.19	)	$	0.09		$	(0.15	)	$	0.57
Diluted	$	(0.19	)	$	0.09		$	(0.15	)	$	0.55

WEIGHTED AVERAGE COMMON SHARES
ASSUMED OUTSTANDING:
Basic		9,099,990			9,086,816			9,096,981			9,085,584
Diluted		9,099,990			9,342,557			9,096,981			9,415,974
CASH DIVIDENDS DECLARED PER COMMON SHARE	$	0.00		$	0.06		$	0.13		$	0.24

*Share and per share data have been adjusted for all periods presented to reflect the two-for-one stock split effective June 28, 2019.

Investor and Media Contacts:
Matthew Wolsfeld, CFO
NTIC
(763) 225-6600