Market Newsdesk

November 16, 2020 8:02 am

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

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

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

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

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

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

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

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

About Accenture

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

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

About Orexo DTx

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

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

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

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20201116005122/en/

Lara Wozniak

Accenture

+1 858 252 8208

[email protected]

KEYWORDS: Europe Sweden United States North America New York New Jersey

INDUSTRY KEYWORDS: Technology Biotechnology Health Other Health Pharmaceutical Other Science Other Technology Mental Health Software Networks General Health Science Data Management Security

MEDIA:

November 16, 2020 8:01 am

IIROC Trading Halt – CLH

Canada NewsWire

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

Company: Coral Gold Resources Ltd.

TSX-Venture Symbol: CLH

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 7:45 AM

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

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

November 16, 2020 8:01 am

LexaGene Receives Purchase Order from a Multinational Biotechnology Company

BEVERLY, Mass., Nov. 16, 2020 (GLOBE NEWSWIRE) — LexaGene Holdings, Inc., (TSX-V: LXG; OTCQB: LXXGF) (the “Company”), a molecular diagnostics company that develops fully automated rapid pathogen detection systems, is pleased to announce that it has received a purchase order for a MiQLab™ system from a multinational biotechnology company that generates billions in annual revenue.

MiQLab is the first commercially available open-access multiplex PCR system of its kind. The open-access feature means it is extremely easy for operators to use the automated MiQLab system at their facility to perform customized, highly multiplexed PCR tests. This is highly desirable over the alternative, which is to ship collected samples to a reference laboratory for manual PCR processing by skilled molecular biologists or waiting days for cultures to grow.

The biotechnology company that has provided LexaGene a purchase order is a manufacturer of biologics, vaccines, and chemicals. Many of these biologics are grown in bioreactors that can be thousands of liters in size. During scale-up manufacturing, it is possible to have a bioreactor become contaminated with bacteria. The failure to detect such bacteria during the transfer of the product from a small bioreactor to a large bioreactor can cost the company hundreds of thousands of dollars to a million or more dollars.

To help prevent massive product losses late in the manufacturing process, the biotechnology company was looking for an easy to use and reliable sample-to-answer system that could process bioreactor material looking for a variety of different bacteria. One of the slower growing bacteria they are targeting can take as much as two weeks to grow sufficiently to be detectable by traditional plate-based culture methods. LexaGene’s customizable MiQLab system solves this problem by automating a PCR test for this slow growing bacterium. PCR amplifies targeted sequences by > 1 billion-fold to provide much earlier detection than is possible when waiting for culture.

Earlier this fall, the biotechnology company requested an in-house demonstration of LexaGene’s MiQLab. For this demonstration, LexaGene designed a test for the slow growing C. acnes bacteria and combined it with tests already developed for E. coli, Staphylococcus, and Streptococcus. The biotechnology company arrived at LexaGene with representative samples that were taken from a bioreactor. These samples were separately spiked with each of the targeted bacteria. MiQLab successfully detected all four bacteria – even the slowest growing bacteria, proving LexaGene’s sample preparation cartridge successfully handled the complex sample type from the bioreactor and the MiQLab system achieved very strong detection of the targeted bacteria.

Dr. Jack Regan, LexaGene’s CEO and Founder, states, “Years ago, I recognized the life sciences sector lacked automated instrumentation that allows end-users to easily create a customized test. I’m excited to announce that we now have a commercial system available for sale to help solve this problem. It is very gratifying that our first sale will be to a company that wants our technology for open-access use. This is just the beginning. Over the coming weeks and months, we expect to continue to roll out our technology into the open-access market, as well as to the veterinary diagnostics market, and eventually the human clinical diagnostics market.”

To be added to the LexaGene email list, please subscribe on the Company website.

On Behalf of the Board of Directors

Dr. Jack Regan

Chief Executive Officer
& Director

About LexaGene Holdings Inc.

LexaGene is a molecular diagnostics company that develops molecular diagnostic systems for pathogen detection and genetic testing for other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing and biodefense. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, enter sample ID and press ‘go’. The MiQLab™ system delivers excellent sensitivity, specificity, and breadth of detection and can return results in approximately one hour. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.

For further information, please contact:

Media Contacts

Nicole Ridgedale
Director of Corporate Marketing, LexaGene
800.215.1824 ext 206
[email protected]

Investor Relations

Jay Adelaar
Vice President of Capital Markets, LexaGene
800.215.1824 ext 207
[email protected]

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors — including the availability of funds, the results of financing efforts, the success of technology development efforts, the cost to procure critical parts, performance of the instrument, market acceptance of the technology, regulatory acceptance, and licensing issues — that could cause actual results to differ materially from the Company’s expectations as disclosed in the Company’s documents filed from time to time on SEDAR (see

www.sedar.com

). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

November 16, 2020 7:57 am

Hilton Announces Launch of Senior Notes Offering

Hilton Announces Launch of Senior Notes Offering

MCLEAN, Va.–(BUSINESS WIRE)–
Hilton Worldwide Holdings Inc. (NYSE: HLT) (“Hilton”) announced today that its indirect subsidiary Hilton Domestic Operating Company Inc. (the “Issuer”) intends to offer $1.0 billion aggregate principal amount of the Issuer’s Senior Notes due 2029 and Senior Notes due 2031 (collectively, the “Notes”). The Issuer intends to use the proceeds of the offering together with available cash to redeem all of its outstanding 4.250% Senior Notes due 2024.

The Notes to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. The Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered, by the initial purchasers, only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.

This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act, and it is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include but are not limited to, statements related to our expectations regarding the impact of the COVID-19 pandemic, the performance of our business, our financial results, our liquidity and capital resources and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the hospitality industry, macroeconomic factors beyond Hilton’s control, risks related to the impact of the COVID-19 pandemic, competition for hotel guests and management and franchise contracts, risks related to doing business with third-party hotel owners, performance of Hilton’s information technology systems, growth of reservation channels outside of Hilton’s system, risks of doing business outside of the United States of America and Hilton’s indebtedness. Accordingly, there are or will be important factors that could cause Hilton’s actual outcomes or results to differ materially from those indicated in these statements. Hilton believes these factors include but are not limited to those described under the section entitled “Part I—Item 1A. Risk Factors” of Hilton’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the Securities and Exchange Commission (“SEC”), as updated under “Part II. Other Information—Item 1A. Risk Factors” of Hilton’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2020, filed with the SEC, as such factors may be further updated from time to time in Hilton’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in Hilton’s filings with the SEC. Hilton undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201116005649/en/

Investors

Jill Slattery

+1 703 883 6043

Media

Nigel Glennie

+1 703 883 5262

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Lodging Travel

MEDIA:

Logo

November 16, 2020 7:57 am

Large Global Convenience Store Brand Selects Mobivity to Power Mobile Messaging Program

Adds Second Major Customer Vertical, Significantly Expanding Mobivity’s Addressable Market

PHOENIX, Nov. 16, 2020 (GLOBE NEWSWIRE) — Mobivity Holdings Corp. (OTCQB: MFON) a global provider of personalized customer engagement solutions that increase customer engagement through mobile messaging and personalized digital offers, and drives digital transformation for restaurants, retail and personal care brands, today announced that it has been selected to power mobile messaging programs for one of the largest operators of convenience store brands around the globe. This new relationship in a new market vertical validates the broad appeal for Mobivity’s technology and solutions in the post-COVID-19 digital marketing business environment. Furthermore, this new customer engagement proves that Mobivity’s ability to offer scalable products to large customer segments sets it apart from the competition.

Seeking higher throughput and capacity for their existing SMS text marketing campaigns, with deeper data and reporting features, the brand chose Mobivity’s Recurrency platform through a competitive vendor selection process. Rich features and capabilities such as machine learning-powered segmentation and personalization, as well as the ability to operate local, regional, or national programs all from a comprehensive cloud-based platform, were key differentiators of Mobivity’s award-winning platform. The brand expects to launch its new Mobivity-powered mobile messaging campaigns across its thousands of North American locations as soon as December of this year.

Dennis Becker, Mobivity Chairman and CEO, commented, “We couldn’t be more excited to enter a new major customer vertical and increase our addressable market. Mobivity was able to demonstrate that our machine learning, deep data, Unified Mobile Messaging, and proven scale are key differentiators that set our Recurrency platform apart from competitors. This win represents a significant opportunity to accelerate our transaction volumes and leverage our ‘one platform’ strategy to reach an entirely new group of consumers. We are preparing to launch with this well-recognized brand in December and expect revenue contributions to our fourth quarter and full year 2021 results. I want to thank all the Mobivity employees for their steadfast efforts in continuing to move the company forward in these most difficult times.”

About Mobivity

Brick and mortar stores struggle to manage customer connections in a digital world. Mobivity provides a platform to connect national restaurants, retailers, personal care brands, and their partners with customers to increase retention, visits, and spend. Mobivity’s Recurrency platform increases customer engagement and frequency by capturing detailed POS transaction data, analyzing customer habits, and motivating customers and employees through data-driven messaging applications and rewards. For more information about Mobivity, visit mobivity.com or call (877) 282-7660.

Forward Looking Statement

This press release contains forward-looking statements concerning Mobivity Holdings Corp. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those forward-looking statements include statements regarding the expansion of the Company’s addressable markets and the Company’s expectations for the timing and growth of the Company’s revenue from a new customer. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, our ability to successfully market and sell our products and services to the convenience store industry; deploy our product and services to a new customer; changes in the laws and regulations affecting the mobile marketing industry and those other risks set forth in Mobivity Holdings Corp.’s annual report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 30, 2020 and subsequently filed quarterly reports on Form 10-Q. Mobivity Holdings Corp. cautions readers not to place undue reliance on any forward-looking statements. Mobivity Holdings Corp. does not undertake, and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

Media Contacts

Jennifer Handshew • Marketing Communications, Mobivity

[email protected] • (917) 359-8838

Investor Relations Contact:

Brett Maas • Managing Partner, Hayden IR

[email protected] • (646) 536-7331

November 16, 2020 7:56 am

IIROC Trading Halt – UUU.P

Canada NewsWire

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

Company: Unilock Capital Corp.

TSX-Venture Symbol: UUU.P

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 7:45 AM

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

November 16, 2020 7:52 am

CBD OF DENVER, INC. (CBDD) Releases 3rd Quarter Financial Statements

PR Newswire

DENVER, Nov. 16, 2020 /PRNewswire/ — CBD of Denver, Inc. (OTC: CBDD), a full-line CBD and Hemp oil company (“CBDD”) selling Black Pearl CBD hemp products and the owner of CBD Social Network today announces the release of its financial statements for the 3^rd quarter of 2020.

CBDD has posted their Financial Statements for the 3^rd quarter ended September 30, 2020, on OTCMarkets.com. Third quarter results exceeded management’s expectations. Gross revenues increased nearly 10-fold over the second quarter to $5,963,820.00 with gross profits of $484,666.00.

Rockflowr GmbH generated the bulk of that revenue and is still growing. Rockflowr has be able to source hemp flower from the United States in large quantities and its distribution has grown to more than 7 countries in Europe. CBDD CEO Marcel Gamma explains “Business is so good, we have dealers waiting in line outside of our offices to buy product. We are thrilled with the growth of our company.” Growth does come with challenges, with the company having to move its office/warehouse from the current 160 square meters to a larger 260+ square meter space. The pandemic and ensuing business closures allowed the company to actually reduce its per square meter cost, saving money. Rockflowr hired 2 additional highly qualified employees, who were available only due to the pandemic. The addition of pollen to the product line has also increased Rockflwr’s profit margins.

CBD Welt 24 also performed well during the quarter, adding additional space and lights to grow approximately 30-40% more plants.

CBDD is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders

CBDD offers a superior CBD product that is full spectrum without depending on THC to activate the benefits of cannabidiol. Black Pearl CBD has 0% THC, but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry. Products are available at www.blackpearlcbd.com.

Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.

View original content to download multimedia:http://www.prnewswire.com/news-releases/cbd-of-denver-inc-cbdd-releases-3rd-quarter-financial-statements-301173326.html

SOURCE CBD of Denver, Inc.

November 16, 2020 7:50 am

Leaders from Cogstate Join the Davos Alzheimer’s Collaborative to Accelerate Innovation and Preparedness for Disease Interventions

Melbourne, VIC, Australia; New Haven, CT, USA, Nov. 16, 2020 (GLOBE NEWSWIRE) — Neuroscience technology company, Cogstate Ltd (ASX.CGS), announced today that four members of its executive leadership team have joined the Davos Alzheimer’s Collaborative (DAC), a pre-competitive coalition and a 5-year, ~$300 million plan focused on driving global scientific, business, policy and financial coordination in Alzheimer’s disease preparedness.

DAC expert representatives from Cogstate include:

Brad O’Connor, Chief Executive Officer, serving on the DAC Leadership Group;
Paul Maruff, Chief Innovation Officer, serving on the Global Cohort Working Group, focused on building a large, diverse participant base to identify new therapeutic targets;
Chris Edgar, Chief Science Officer, serving on the Clinical Trials Working Group, focused on connecting trials globally to standardize, expedite and diversify recruitment and enrollment; and
Tanya O’Connor, Vice President, Healthcare & Research, serving on the Healthcare System Preparedness Working Group, focused on the required infrastructure that can dramatically improve rates of early and accurate testing, detection and diagnosis.

Convened by the Global CEO Initiative on Alzheimer’s Disease (CEOi) and the World Economic Forum (WEF), DAC aims to create a global innovation ecosystem that speeds up and scales the global response to Alzheimer’s disease and changes its trajectory for good.

“The already-staggering prevalence of Alzheimer’s disease will triple by 2050, as will it’s devastating impacts on individuals and societies around the word. To meaningfully accelerate the pace and scale of advancements we must collaborate across sectors like never before,” said Brad O’Connor, Cogstate CEO. “We are truly honored to be part of this global community of committed leaders who are so focused on addressing together the urgent challenges for the development and delivery of Alzheimer’s disease interventions.”

“The Davos Alzheimer’s Collaborative welcomes Cogstate’s deep understanding of Alzheimer’s disease research and clinical care and its critical perspective on how to scale solutions globally; two key elements in making timely progress in this global initiative,” said George Vradenburg, Co-Chair of the Davos Alzheimer’s Collaborative Leadership Group and Convener of The Global CEO Initiative on Alzheimer’s Disease.

About Cogstate

Cogstate Ltd (ASX:CGS) is a leading neuroscience technology company optimizing brain health assessments to advance the development of new medicines and to enable earlier clinical insights in healthcare. Cogstate technologies provide rapid, reliable and highly sensitive computerized cognitive tests across a growing list of domains and support electronic clinical outcome assessment (eCOA) solutions to replace costly and error-prone paper assessments with real-time data capture. The company’s clinical trials solutions include quality assurance services for study endpoints that combine innovative operational approaches, advanced analytics and scientific consulting. For 20 years, Cogstate has proudly supported the leading-edge research needs of biopharmaceutical companies and academic institutions and the clinical care needs of physicians and patients around the world. Cogstate and pharmaceutical company, Eisai, recently established a global exclusive partnership to develop and market cognitive assessment tools for individuals and doctors around the world.

Rachel Colite
Cogstate
203-773-5010 x157
[email protected]

November 16, 2020 7:50 am

IIROC Trading Halt – SMAR.P

Canada NewsWire

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

Company: Smartset Services Inc.

TSX-Venture Symbol: SMAR.P

All Issues: Yes

Reason: Failure to Complete a Qualifying Transaction within 24 Months Of Listing

Halt Time (ET): 7:45 AM

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

November 16, 2020 7:50 am

Hammer Fiber Optics Holdings Corp Announces Results for Year Ended July 31, 2020

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) announced operating and financial results for the fiscal year ended July 31, 2020. “During this fiscal year Hammer continued to evolve its operations in support of its Everything Wireless strategy,” said Erik Levitt, Hammer’s CEO. “As we move into the new year more of our revenues will be derived from our Over-the-Top applications, such as SMS and HammerCall, as well as our Fixed Wireless business unit, beginning with our network in Huntsville, AL.”

Key results include:

Total revenues for the fiscal year from the remaining ongoing operations decreased to $1,781,139 from $2,179,152. This decrease was primarily due to the discontinuation of Endstream Communications’ toll free termination business. Some of those losses were replaced by revenues from messaging services.
Although operating loss adjusted for the remaining ongoing business increased to $277,665 from $137,459, operating loss year over year decreased from $468,366 from the prior year reported 10-K, a decrease of 40.71%. This loss was primarily due to the discontinuation of Endstream Communication’s toll free termination business, and we anticipate the losses will be substantially offset by the SMS services business on a forward-looking basis.
Hammer reduced its operating costs by discontinuing its Open Data Centers colocation business. These cost reductions are expected to produce a material impact in the first quarter of 2020, ended October 31, 2020.
Construction has begun on the new fixed wireless network in Huntsville, AL.
Hammer expanded its US SMS network with presence in Mississippi, Alabama, Texas, New York, New Jersey and other states across the country while simultaneous increasing messaging revenues.
Hammer completed the alpha phase of its HammerCall conferencing and collaboration application.

A further update on our operations will be available via a HammerLive broadcast viewable online at https://hammercorp.info/hammerlive/ .

About Hammer

Hammer Fiber Optics Holdings Corp. (OTCQB:HMMR) is a telecommunications company investing in the future of wireless technology. Hammer’s “Everything Wireless” go to market strategy includes the development of high-speed fixed wireless service for residential and small businesses using its wireless fiber platform, Hammer Wireless® AIR, Over-the-Top services such as voice, SMS and video collaboration services, the construction of smart city networks and hosting services including cloud and colocation. For more information contact our Investor Relations Team at info @hammerfiber.com.