Market Newsdesk

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Zosano Pharma Corporation (NASDAQ: ZSAN) between February 13, 2017 and September 30, 2020, inclusive (the “Class Period”).

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=zosano-pharma-corporation&id=2478 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email [email protected] for information on the class action.

如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=zosano-pharma-corporation&id=2478

If you wish to serve as lead plaintiff, you must move the Court before the November 30, 2020 DEADLINE.   A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. 

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (a) the Company’s clinical results reflected differences in zolmitriptan exposures observed between subjects receiving different lots; (b) pharmacokinetic studies submitted in connection with the Company’s New Drug Application (“NDA”) included patients exhibiting unexpected high plasma concentrations of zolmitriptan; (c) as a result of the foregoing differences among patient results, the U.S. Food and Drug Administration (“FDA”) was reasonably likely to require further studies to support regulatory approval of Qtrypta; (d) as a result, regulatory approval of Qtrypta was reasonably likely to be delayed; and (e) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Lead plaintiff status is not required to seek compensation.  You may retain counsel of your choice.  You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
[email protected]
tel: (800) 991-3756

KING OF PRUSSIA, Pa., Nov. 13, 2020 (GLOBE NEWSWIRE) — Nocopi Technologies, Inc. (OTC Pink: NNUP), a developer of specialty reactive inks used in entertainment, toy and educational products as well as in document and product authentication technologies to combat fraud, today announced results for its third quarter ended September 30, 2020 (Q3’20). Nocopi’s SEC filings are available here, https://bit.ly/35gTldx

Nocopi Chairman and CEO Michael Feinstein, commented, “Nocopi achieved another quarter of double digit revenue growth driven principally by growing demand for our specialty ink technologies used in toy and entertainment products. Specialty ink sales reached the second highest level in recent periods during the third quarter as our entertainment customers ramped production activity in anticipation of the holiday selling season. We are optimistic that this expanded production activity will support strong holiday sales levels that would contribute to future royalty income for Nocopi. That leading indicator combined with recent team efforts on new products which are variants of our ink technology plus expanded distribution channels led by existing partners sets Nocopi up for success in the next year.”

“COVID-related factors continued to negatively impact overall consumer spending at physical stores during the third quarter, however this trend was offset somewhat by solid increases in online sales activity. The net effect was a lower level of product sell-through that caused a lower level of revenues from licenses, royalties and fees in Q3’20 versus the year ago period.

“Similarly, we continued to experience weakness in our smaller anticounterfeiting and anti-product diversion applications for our specialty ink technologies, principally due to COVID-19-related plant closures and budget and procurement freezes. We are optimistic that these markets will return to more normal levels of activity as we progress into FY 2021.

“Nocopi’s Q3’20 cash collections were strong, with the company closing the quarter with $2.5M in working capital, including $1.4M of cash and $1.0M in accounts receivable. This compares favorably with Q4’19 working capital of $1.8M, including $0.7M of cash, and $1.4M of accounts receivable and Q2’20 working capital of $2.1M, including $1.1M in cash and $1.1M in accounts receivable. Our financial position puts Nocopi in a very strong position to manage our business over the foreseeable future and the ability to weather future unforeseen circumstances whether those be unique to COVID-19 or other economic factors. Given that access to capital is both challenging and expensive for microcap companies, we feel it is essential that we proceed carefully in developing a prudent capital allocation strategy.”

Q
3
Highlights

• Revenues rose 18% to $755,000, driven by a 34% increase in specialty ink product sales.
• Revenue from licenses, royalties and fees declined 19% to $153,300, and were pressured by a slight decrease in earned royalties from our major licensees in the entertainment and toy industries compared to Q3 ‘19 due to the closure of some retail locations where their products are sold.
• Gross profit of $425,500 was relatively unchanged though gross margin declined to 56% from 67% compared to Q3 ’19 on increased product and shipping costs and a lower percentage of higher-margin royalty income within Nocopi’s revenue mix.
• Net income decreased to $163,100 from $206,800 in Q3’19, due to higher salary and consulting expenses and lower gross margin.
• Working capital, including $1.5M of cash, increased to $2.5M at 9/30/20 compared to working capital of $1.8M at year-end 2019.
• Book value increased to $3.2M at 9/30/20 compared to $2.8M at year-end 2019.

Q
3
’20
Results

Q3’20 revenues rose 18% to $754,800 reflecting a 34% increase in product and other sales, principally due to higher specialty ink shipments to the entertainment and toy product market, offset by a 19% decline in licenses, royalties and fees, due primarily to the Covid-19 related reduction in sell-through of entertainment products using Nocopi technologies as well as temporary disruptions of customer activity in security applications also resulting from the pandemic. Royalty revenue in the Q3’20 and Q3’19 periods do not reflect the receipt of quarterly guaranteed royalty payments of $100,000 received by Nocopi pursuant to a four-year license extension that went into effect July 1, 2019. The payments are reflected in the Company’s balance sheet and statement of cash flows but are not recorded as revenue.

Gross profit decreased to $425,500, or 56% of revenues in Q3’20, from $429,500, or 67% of revenues in Q3 ’19, principally due to higher raw material costs and shipping expense related to the COVID-19 pandemic, as well as a smaller relative contribution from higher-margin royalty revenue. However, the Company’s gross margin improved sequentially to 56% in Q3 ’20 compared to 51% in Q2 ’20 due to a change in the mix toward higher margin products in the quarter.

Q3’20 operating expenses increased to $255,400 from $210,400 in Q3’19, reflecting increased operational and administrative expense including higher salaries and professional fees. In late 2019, Nocopi expanded its ink production operations and staffing to support expected future growth.

Reflecting lower gross profit and higher operating expenses Nocopi’s net income declined to $163,100, or $0.002 per diluted share, in Q3’20, compared to $206,800, or $0.003 per diluted share, in Q3’19.

Nocopi’s cash flow from operations increased to $768,500 in the first nine months of 2020 compared to $399,400 in the year-ago period.

About Nocopi Technologies (
www.nocopi.com
)

Nocopi develops and markets specialty reactive inks for unique, mess-free applications in the entertainment, toy and educational product markets. Nocopi also develops and markets document and product authentication technologies designed to combat fraudulent document reproduction, product counterfeiting and/or unauthorized product diversion. Nocopi derives revenue from technology licensing agreements as well as from the sale of its proprietary inks and other products to licensees and/or their licensed printers. Nocopi’s products and systems include trade secrets as well as patented technologies.

Safe Harbor for Forward-Looking Statements

This release may contain projections and other “forward-looking statements” relating to Nocopi’s business, that are often identified by the use of “believes,” “expects” or similar expressions. Forward-looking statements involve a number of estimates, assumptions, risks and uncertainties that may cause actual results to differ materially from those anticipated. Forward-looking statements may address uncertainties regarding customer preferences or demand for products incorporating Nocopi technology that underlie the company’s revenue expectations, the company’s ability to develop new products and new product applications, the financial condition of customers and the timeliness of their payments, the impact of fluctuations in currencies, global trade and shipping markets, etc. Actual results could differ from those projected due to numerous factors and uncertainties, and Nocopi can give no assurance that such statements will prove to be correct nor that Nocopi’s actual results of ‎operations, financial condition and performance will not differ materially from those reflected or implied by its forward-‎looking statements. Investors should refer to the risk factors outlined in Nocopi’s Form 10-K, 10-Q and other SEC reports available at www.sec.gov/edgar. Forward-looking statements are made as of the date of this news release; Nocopi assumes no obligation to update these statements.

Twitter – Investors:
@NNUP_IR

Investor & Media Contacts

Chris Eddy or David Collins
Catalyst IR
212-924-9800 or [email protected]

Nocopi Technologies, Inc.



Statements of Operations



(unaudited)

		Three Months ended September 30,								Nine Months ended September 30,
		2020				2019				2020				2019
Revenues
Licenses, royalties and fees		$	153,300			$	189,400			$	425,000			$	571,900
Product and other sales			601,500				448,100				1,477,400				991,100
			754,800				637,500				1,902,400				1,563,000
Cost of revenues
Licenses, royalties and fees			61,900				41,400				170,200				98,200
Product and other sales			267,400				166,600				716,200				380,300
			329,300				208,000				886,400				478,500
Gross profit			425,500				429,500				1,016,000				1,084,500
Operating expenses
Research and development			40,700				45,200				123,700				122,600
Sales and marketing			90,900				81,000				260,900				224,200
General and administrative			123,800				84,200				383,500				265,200
			255,400				210,400				768,100				612,000
Net income from operations			170,100				219,100				247,900				472,500
Other income (expenses)
Interest income			4,200				4,600				12,300				7,200
Interest expense and bank charges			(1,300	)			(2,600	)			(5,900	)			(8,000	)
			2,900				2,000				6,400				(800	)
Net income before income taxes			173,000				221,100				254,300				471,700
Income taxes			9,900				14,300				(32,200	)			30,600
Net income		$	163,100			$	206,800			$	286,500			$	441,100
Basic and diluted net income per common share		$	.00			$	.00			$	.00			$	.01
Weighted average common shares outstanding
Basic			66,768,023				59,614,698				62,952,473				58,949,377
Diluted			66,893,250				59,990,371				63,069,652				59,322,141

Nocopi Technologies, Inc.



Balance Sheets

		September 30,				December 31,
		2020				2019
		(unaudited)				(audited)
Assets
Current assets
Cash		$	1,428,900			$	688,000
Accounts receivable less $5,000 allowance for doubtful accounts			1,023,000				1,352,300
Inventory			286,600				127,900
Prepaid and other			21,200				135,000
Total current assets			2,759,700				2,303,200
Fixed assets
Leasehold improvements			27,800				24,200
Furniture, fixtures and equipment			163,700				252,500
			191,500				276,700
Less: accumulated depreciation and amortization			98,100				206,600
			93,400				70,100
Other assets
Long-term receivables			671,100				957,000
Operating lease right of use – building			171,000				202,000
			842,100				1,159,000
Total assets		$	3,695,200			$	3,532,300
Liabilities and Stockholders’ Equity
Current liabilities
Convertible debentures		$	–			$	97,900
Accounts payable			58,300				44,300
Accrued expenses			165,500				231,600
Income taxes			22,200				52,400
Operating lease liability, current			43,800				41,700
Total current liabilities			289,800				467,900
Other liabilities
Accrued expenses, non-current			47,000				67,000
Deferred income taxes			–				47,400
Operating lease liability, non-current			127,200				160,300
			174,200				274,700
Stockholders’ equity
Common stock, $0.01 par value
Authorized – 75,000,000 shares
Issued and outstanding
2020 – 67,353,690 shares; 2019 – 61,044,698 shares			673,500				610,400
Paid-in capital			12,575,800				12,483,900
Accumulated deficit			(10,018,100	)			(10,304,600	)
Total stockholders’ equity			3,231,200				2,789,700
Total liabilities and stockholders’ equity		$	3,695,200			$	3,532,300

 

PHILADELPHIA, Nov. 13, 2020 (GLOBE NEWSWIRE) — Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of MultiPlan Corporation (“MultiPlan” or the “Company”) (NYSE: MPLN) to determine whether the Company engaged in securities fraud or other unlawful business practices.

INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED,
THE SECURITIES OF MULTIPLAN CORPORATION AND SUFFERED SIGNIFICANT LOSSES
ARE ENCOURAGED TO
COMPLETE KEHOE LAW FIRM’S

SECURITIES CLASS ACTION QUESTIONNAIRE

OR CONTACT
KEVIN CAULEY, DIRECTOR, BUSINESS DEVELOPMENT
,
(215) 792-6676, EXT. 80
2
,

[email protected]

,

[email protected]

,
TO DISCUSS THE 

SECURITIES INVESTIGATION

OR POTENTIAL LEGAL CLAIMS
.

Muddy Waters Research published a report (“MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab”), which, among other things, stated that “MPLN is in the process of losing its largest client, UnitedHealthcare (‘UHC’). UHC has formed a competitor to [MultiPlan] that offers significantly lower prices and fewer conflicts of interest. The competitor is called Naviguard.”

Muddy Waters Research also reported that MultiPlan “. . . was already in financial decline, and its financial statements were engineered to obscure this existing deterioration.” Further, according to Muddy Waters Research, “. . . in 2018, [MultiPlan] released revenue reserves, dropping them from approximately 30% to 10% of revenue, which . . . enabled [MultiPlan] to show 2018 EBITDA growth amid shrinking sales.”

On this news,
MultiPlan’s
stock dropped $1.72 per share, or 19.7%, to close at $7.01 on November 11, 2020

Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct.  Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.   

This press release may constitute attorney advertising.

 

JACKSONVILLE, Fla., Nov. 13, 2020 (GLOBE NEWSWIRE) — Regency Centers Corporation (“Regency” or the “Company”) (NASDAQ:REG) today announced that Lisa Palmer, President and Chief Executive Officer, is scheduled to make a presentation at Nareit’s REITworld: 2020 Virtual Investor Conference (the “Conference”) on Thursday, November 19, 2020, at 9:45 am ET. To access the Company’s live presentation, attendees are required to register for the Conference, using the registration link below. Registration for the Conference is complimentary.

Regency Centers Virtual Presentation
Date:	Thursday, November 19, 2020
Time:	9:45 am – 10:15 am ET
Speaker:	Lisa Palmer, President & CEO
Registration:	REITweek Virtual Environment

About Regency Centers Corporation
(NASDAQ
: REG)

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.

Christy McElroy
904 598 7616
[email protected]

 

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action that has been filed on behalf of investors that purchased or acquired the securities of Turquoise Hill Resources Limited (“Turquoise Hill” or the “Company”) (NYSE: TRQ) between July 17, 2018, and July 31, 2019, inclusive (the “Class Period”). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.

If you purchasedTurquoise Hillsecurities, and/or would like to discuss your legal rights and options please visit Turquoise Hill Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (i) the progress of underground development and of Oyu Tolgoi was not proceeding as planned; (ii) there were significant undisclosed underground stability issues that called into question the design of the mine, the projected cost and timing of production; (iii) the publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; (iv) the “challenging ground conditions” were much more severe than Defendants represented, and in fact made it impossible for Turquoise Hill and Rio Tinto to achieve those estimates; (v) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what Turquoise Hill and Rio Tinto had represented; and (v) Turquoise Hill would require additional financing and/or equity to complete the project.

On July 31, 2019, Turquoise Hill issued a press release and MD&A which it filed as exhibits on Forms 6-K announcing the Company’s financial and operating results for the second quarter of fiscal year 2019. The press release, among other things, stated that the Company’s “preliminary estimates indicated that sustainable first production could be delayed by 16 to 30 months compared with Q1’21 estimate in the original feasibility study guidance in 2016, and the development capital project may increase by $1.2 billion to $1.90 billion over the $5.3 billion previously disclosed.”

Following this news, on August 1, 2019, Turquoise Hill’s common stock price closed at $0.53 per share, down 8.62% from the day’s closing price of $0.58 per share, with over 16.6 million shares traded.

If you wish to serve as lead plaintiff, you must move the Court no later than December 14, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Turquoise Hill securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/turquoisehillresources-trq-shareholder-class-action-lawsuit-stock-fraud-325/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Turquoise Hill Resources Ltd. (NYSE: TRQ) between July 17, 2018 and July 31, 2019, inclusive (the “Class Period”).

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=turquoise-hill-resources-ltd&id=2474 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email [email protected] for information on the class action.

如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=turquoise-hill-resources-ltd&id=2474

If you wish to serve as lead plaintiff, you must move the Court before the December 14, 2020 DEADLINE.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. 

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose the following about its Oyu Tolgoi copper-gold mine in Mongolia: the stability issues were much more severe than represented and called into question the design of the mine, the projected cost and timing of production; the publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; the “challenging ground conditions” were much more severe than defendants represented, and in fact made it impossible for Turquoise Hill and Rio Tinto to achieve those estimates; the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what Turquoise Hill and Rio Tinto had represented; Turquoise Hill would require additional financing and/or equity to complete the project; the progress of underground development and of Oyu Tolgoi was not proceeding as planned; and the “key risks” had not been “well understood and managed” but had placed the project schedule and cost into severe jeopardy. When the true details entered the market, the lawsuit claims that investors suffered damages.

Lead plaintiff status is not required to seek compensation.  You may retain counsel of your choice.  You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
[email protected]
tel: (800) 991-3756

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Nikola Corporation (NASDAQ: NKLA, NKLAW), f/k/a VectoIQ Acquisition Corp. (NASDAQ: VTIQ, VTIQW, VTIQU) from March 3, 2020 through September 20, 2020 (the “Class Period”).  The lawsuit seeks to recover investor losses under the federal securities laws. If you wish to serve as lead plaintiff, you must move the Court before the NOVEMBER 16, 2020 DEADLINE.

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=nikola-corporation&id=2418 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email [email protected] for information on the class action.

如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=nikola-corporation&id=2418

If you wish to serve as lead plaintiff, you must move the Court before the NOVEMBER 16, 2020 DEADLINE.   A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. 

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:  (1) VectoIQ did not engage in proper due diligence regarding its merger with Nikola; (2) Nikola overstated its “in-house” design, manufacturing, and testing capabilities; (3) Nikola overstated its hydrogen production capabilities; (4) as a result, Nikola overstated its ability to lower the cost of hydrogen fuel; (5) Nikola founder and Executive Chairman, Trevor Milton, tweeted a misleading “test” video of the Company’s Nikola Two truck; (6) the work experience and background of key Nikola employees, including Mr. Milton, had been overstated and obfuscated; (7) Nikola did not have five Tre trucks completed; and (8) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. According to the suit, these true details were disclosed by a market research firm.

Lead plaintiff status is not required to seek compensation.  You may retain counsel of your choice.  You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
[email protected]
tel: (800) 991-3756