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/C O R R E C T I O N — Senmiao Technology Limited/

PR Newswire

In the news release, Senmiao Technology Schedules 2020 Third Quarter Financial Results for November 20, 2020, issued 16-Nov-2020 by Senmiao Technology Limited over PR Newswire, we are advised by the company that: 1. The headline, should read “Senmiao Technology Schedules Fiscal 2021 Second Quarter Financial Results for November 20, 2020” rather than “Senmiao Technology Schedules 2020 Third Quarter Financial Results for November 20, 2020” as originally issued inadvertently; 2. All the “third quarter” should read “second quarter” in the release. The complete, corrected release follows:

Senmiao Technology Schedules Fiscal 2021 Second Quarter Financial Results for November 20, 2020

CHENGDU, China, Nov. 16, 2020 /PRNewswire/ — Senmiao Technology Limited (“Senmiao”) (Nasdaq: AIHS), a provider of automobile transaction and related services targeting the online ride-hailing industry in China, today announced that the Company expects to issue its financial results for the second quarter ended September 30, 2020 prior to the opening of the stock market on Friday, November 20, 2020. The Company will also file its quarterly report on Form 10-Q on November 20, 2020.

The Company does expect to file a form 12b-25 following the close of business today, as the Securities and Exchange Commission (SEC) provides the Company with five additional calendar days within which to file its Form 10-Q for the second quarter. The delay is due to the Company needing additional time to complete certain disclosures.

About Senmiao Technology Limited
Headquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchase and financing, management, operating lease, guarantee and other automobile transaction services aimed principally at the growing ride-sharing market in Senmiao’s areas of operation in China. For more information about Senmiao, please visit: http://www.senmiaotech.com.

Cautionary Note Regarding Forward-Looking Statements 
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements (including those relating to the operation of Senmiao’s ride-sharing platform and the collaboration with other ride-hailing platforms and business partners as described herein) are subject to significant risks, uncertainties and assumptions, including those detailed from time to time in the Senmiao’s filings with the SEC, and represent Senmiao’s views only as of the date they are made and should not be relied upon as representing Senmiao’s views as of any subsequent date. Senmiao undertakes no obligation to publicly revise any forward-looking statements to reflect changes in events or circumstances. 

For more information, please contact:

At the Company:
Yiye Zhou
Email: [email protected]
Phone: +86 28 6155 4399

Investor Relations:
The Equity Group Inc.                                                                      In China
Adam Prior, Senior Vice President                                                  Lucy Ma, Associate
(212) 836-9606                                                                                +86 10 5661 7012
[email protected]                                                                      [email protected]

© 2020 Senmiao Technology Ltd.  All rights reserved.

Cision View original content:http://www.prnewswire.com/news-releases/senmiao-technology-schedules-2020-third-quarter-financial-results-for-november-20-2020-301173395.html

SOURCE Senmiao Technology Limited

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CORRECTING and REPLACING 1847 Goedeker Announces Third Quarter 2020 Results

CORRECTING and REPLACING 1847 Goedeker Announces Third Quarter 2020 Results

  • Nine Month Cash Flow from Operations Increased to $7.4M vs $(0.6M) for Same Period Prior Year
  • Q2 Revenue Up 10.1% Year-Over-Year to $13.4M
  • Written Orders Up 143% Year-Over-Year to $36.9M
  • Company to host conference call at 4:15 p.m. ET today

 

BALLWIN, Mo.–(BUSINESS WIRE)–
The last sentence of the final bullet of the Third Quarter 2020 Financial Highlights section should read: Excluding non-cash charges, pre-tax net loss for the nine months ended September 30, 2020, would have been $6.2 million (instead of Excluding non-cash charges, pre-tax net loss for the nine months ended September 30, 2020, would have been $7.6 million).

The updated release reads:

1847 GOEDEKER ANNOUNCES THIRD QUARTER 2020 RESULTS

  • Nine Month Cash Flow from Operations Increased to $7.4M vs $(0.6M) for Same Period Prior Year
  • Q2 Revenue Up 10.1% Year-Over-Year to $13.4M
  • Written Orders Up 143% Year-Over-Year to $36.9M
  • Company to host conference call at 4:15 p.m. ET today

1847 Goedeker Inc. (NYSE American: GOED) (“Goedeker’s” or the “Company”), a one-stop e-commerce destination for appliances, furniture, home goods, and related products, today reported financial results for its third quarter ended September 30, 2020.

Business Highlights:

  • Site sessions increased 80% to 2.7 million in the third quarter of 2020, up from 1.5 million in the prior year period.
  • Written orders in the quarter ended September 30, 2020, reached $36.9 million, up 143% from $15.2 million in the prior year period.
  • Shipped orders increased to $13.4 million in the third quarter of 2020, up 10.1% from $12.2 million in the prior year period.
  • Completed IPO on NYSE American on August 4, 2020; raised net proceeds of approximately $9 million.
  • Art Smuck, former CEO of FedEx Supply Chain, joined Goedeker’s as Senior Strategic Advisor for Logistics to support accelerated growth plans.
  • Reduced annual debt service by $410,000 through 3.25% loan refinancing.
  • Expanded customer financing options with multiple new third-party offerings with no credit risk or balance sheet impact to the Company.
  • Appointed new VP of Logistics, Jacob Guilhas, to accelerate preparations for record revenue growth.
  • Signed purchase agreement to acquire Appliances Connection, ranked #1 in online appliance retail by USA Today, creating one of the largest independent online retailers of household appliances in the U.S.; upon closing, the Company’s revenue is expected to reach $400M on an annualized basis in 2021, with approximately $30M in EBITDA.

“I am excited to report another strong quarter of revenue growth as well as continued sharp improvement in our cash flow from operations,” stated Doug Moore, CEO of 1847 Goedeker. “The increased marketing spend led to record orders and cash on the balance sheet which will convert to revenues as supply of appliances returns closer to normal levels. Customers continue to find our online offering compelling and we will continue to invest in the sea change shift to online appliance buying.”

Moore continued, “We are pleased with the growth in site sessions and orders and with cash flow from operations. The lack of available product meant that we were able to ship only 37% of our orders in the 2020 quarter, compared to more than three years of shipped trends over 80%. The significant increase in orders required us to use temporary staff to supplement our permanent staff in order processing, customer service, and accounting. Had we not experienced supply chain disruptions from COVID-19, we believe that Goedeker’s would have realized $2.5 million to $2.7 million in additional net margin contribution and we believe that expenses would have been reduced by $500k to $750k due to reduction in variable expenses related to lack of supply. A near term look beyond supply constraints point towards mid-term profitability.”

Third Quarter 2020 Financial Highlights:

  • Cash flow from operations improved to $7.4 million in the nine months ended September 30, 2020, up from ($0.7 million) in the prior year period, an $8.1 million improvement.
  • As of September 30, 2020, the Company had $12.4 million of cash and cash equivalents, including unrestricted of $3.5 million and restricted of $8.9 million.
  • Net revenue increased 10.1% to $13.4 million in the quarter ended September 30, 2020, up from $12.2 million in the prior year period. Growth was primarily driven by higher demand resulting from increased advertising spend.
  • Gross profit was $2.2 million, or 16.2% of total net revenue, up 7.5% from the prior year period. Increased gross profit was in line with increased net revenue.
  • Advertising expenses were $1.4 million for the quarter ended September 30, 2020, up from $0.7 million in the prior year period. The increase relates to an increase in advertising spending to drive traffic to our website.
  • Loss from operations in the third quarter of 2020 was $3.1 million. The loss primarily resulted from expenses we incurred in advertising, bank fees, and personnel related to processing the increase in orders that we could not ship at our normal level of shipping because of supply chain issues from our manufacturers. We believe that manufacturers will resolve the supply issues and we will be able to ship product at historical rates. Had we shipped at our normal shipping rates with the same gross margins, our gross profit would have been approximately $4.8 million and our operating income would have been $0.2 million.
  • Driven primarily by non-cash items totaling approximately $4.7 million, net loss before income taxes for the nine-month period ended September 30, 2020, was $10.9 million, as compared to a net loss before income taxes of $2.1 million for the nine months ended September 30, 2019. Excluding non-cash charges, pre-tax net loss for the nine months ended September 30, 2020, would have been $6.2 million.

“We are addressing a $20 billion industry as the only pure play appliance online retailer listed on a major exchange, and we are still at an early stage of capitalizing on this tremendous opportunity,” continued Moore. “Over the past year, we have been investing in people, processes and systems, while developing a world-class advertising and marketing platform in order to continue to drive significant revenue growth and dramatically increase our market share as we continue to execute on our vision of growing Goedeker’s to a billion-dollar revenue company, and in the process, becoming the largest, most profitable online retailer of appliances in the U.S.”

Webcast and Conference Call

The Company will host a conference call and webcast to discuss its third quarter 2020 financial results today at 4:15 p.m. ET. Shareholders and other interested parties may participate in the conference call by dialing 1-833-529-0213 (U.S. Toll-Free) or 1-236-389-2113 (International) a few minutes before the 4:15 p.m. ET start time. An audio-only webcast is also available by visiting:

https://event.on24.com/wcc/r/2634270/06CA6B7A886A4F5763D47A67CBEAF2D8

For interested individuals unable to join the conference call, a dial-in replay of the call will be available until November 30, 2020, and can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) and entering replay pin number: 4585388. An archive of the webcast conference call will be available shortly after the call ends at investor.goedekers.com.

About 1847 Goedeker Inc.

The Company is an industry leading e-commerce destination for appliances, furniture, and home goods. Since its founding in 1951, the Company has transformed from a local brick and mortar operation serving the St. Louis metro area to a respected nationwide omnichannel retailer that offers one-stop shopping for national and global brands. While the Company maintains its St. Louis showroom, over 90% of sales are placed through its website (www.goedekers.com). The Company provides visitors an easy to navigate the shopping experience and offers more than 185,000 items organized by category and product features. Specialization in the home category has enabled the Company to build a shopping experience and an advanced logistics infrastructure that is tailored to the unique characteristics of the market. Learn more at www.goedekers.com.

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission and other reports filed with the Securities and Exchange Commission thereafter. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Non-GAAP to GAAP Reconciliation

This press release contains a financial measure that is not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). The non-GAAP financial measure is net loss before income taxes excluding certain non-cash charges (“Non-GAAP Net Loss before Taxes”).

The non-GAAP financial information should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Management, however, believes that this non-GAAP financial measure, when used in conjunction with the results presented in accordance with GAAP, may provide a more complete understanding of our results and may facilitate a fuller analysis of our results, particularly in evaluating performance from one period to another. Management has chosen to provide this supplemental information to investors, analysts, and other interested parties to enable them to perform additional analyses of results and to illustrate the results giving effect to the non-GAAP adjustments shown in the reconciliation described in the next paragraph. Furthermore, the economic substance behind our decision to use such non-GAAP measures is that such measures approximate our controllable operating performance more closely than the most directly comparable GAAP financial measures. Management strongly encourages investors to review our financial statements and publicly filed reports in their entirety and cautions investors that the non-GAAP measures used by us may differ from similar measures used by other companies, even when similar terms are used to identify such measures.

As noted above, net loss before income taxes for the nine months ended September 30, 2020, was $10.9 million. Non-GAAP Net Loss before Taxes excludes (i) a loss on early extinguishment of debt of $1,756,095, (ii) a write-off of acquisition receivable of $809,000, and (iii) a non-cash charge related to the change in fair value of a warrant liability of $2,127,656. Accordingly, to reconcile Non-GAAP Net Loss before Taxes to the GAAP measure, net loss before income taxes, we added back these non-cash charges of $4,692,751 to equal GAAP net loss of $10,925,868.

Dave Gentry, CEO

RedChip Companies

Office: 1.800.RED.CHIP (733.2447)

Cell: 407.491.4498

[email protected]

KEYWORDS: Missouri United States North America

INDUSTRY KEYWORDS: Online Retail Home Goods Retail

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Casey’s Announces Timing of Second Quarter Earnings Release and Conference Call and Participation in Stephen’s Annual Investment Conference

Casey’s Announces Timing of Second Quarter Earnings Release and Conference Call and Participation in Stephen’s Annual Investment Conference

ANKENY, Iowa–(BUSINESS WIRE)–
Casey’s General Stores, Inc. (“Casey’s” or the “Company”) (Nasdaq symbol CASY) will issue second quarter fiscal year 2021 results after the market closes on December 7th, 2020. Casey’s will hold a conference call and webcast on Tuesday, December 8th at 7:30am CST to review the quarterly results.

A live webcast of the event will be available on Casey’s website on the Investor Relations page at https://investor.caseys.com/events-and-presentations. For those unable to listen to the live broadcast, an audio replay will be available on Casey’s for twelve months.

Casey’s will be participating virtually at the Stephens Annual Investment Conference on Tuesday, November 17, 2020 at 3pm CST. The webcast can be accessed through the Casey’s website on the Investor Relations page and at https://kvgo.com/stephens/caseys-general-stores-november-2020 .

About Casey’s General Stores

Casey’s General Stores is a Fortune 500 Company (NASDAQ: CASY) operating over 2,200 convenience stores in 16 states. Founded more than 50 years ago, the company has grown to become the fourth-largest convenience store retailer and the fifth-largest pizza chain in the United States. Casey’s provides freshly prepared foods, quality fuel, and friendly service at every location. Guests can enjoy famous, made-from-scratch pizza, donuts and other assorted bakery items, and a wide selection of beverages and snacks. Learn more and order online at www.caseys.com.

Brian Johnson

(515) 965-6587

KEYWORDS: United States North America Iowa

INDUSTRY KEYWORDS: Retail Convenience Store Other Retail Food/Beverage

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China Recycling Energy Corporation Reports Results for the Third Quarter of 2020

XI’AN, China, Nov. 16, 2020 (GLOBE NEWSWIRE) — China Recycling Energy Corporation (NASDAQ: CREG) (“CREG” or “the Company”), an industrial waste-to-energy solution provider in China, today reported certain highlights of its operating results for the quarter ended September 30, 2020.

“As of September 30, 2020, we maintained a healthy cash and cash equivalents balance of approximately $73.8 million,” stated Mr. Guohua Ku, Chairman and CEO of the Company. In addition, we have accomplished significant cost cutting throughout our entire organization, evidenced by net loss narrowed by approximately 83.6% to approximately $(671,280) in the third quarter ended September 30, 2020, as compared to approximately $(4.1) million in the same period of 2019. We are executing what we believe is a clear plan to manage our business efficiently and effectively through the coronavirus pandemic, prioritizing the health and safety of our customers and teams. We expect the company to return to profitability for fiscal year 2020 driven by anticipated sales growth in the four quarter. Longer term, we believe our financial position and contingency plans will allow us to retain the financial flexibility to pursue opportunities in the fast-growing smart power sector. We feel we are back on track to continue evaluating several exciting strategic opportunities to reinvest in innovative growth initiatives. We expect to reposition our energy sustainability business in direct relation to smart power integrated solutions to vastly improve climate change efficiency in China in order to better serve our clients, employees and shareholders. As such, we will maintain our focus on expense and working capital discipline, so that we can move forward with a strengthened platform to attempt to capitalize on the significant opportunities we see for growth.” 

Financial Summary for the Quarter Ended September 30, 2020

  • Cash and cash equivalents were approximately $73.8 million as of September 30, 2020, an increase of approximately $57.6 million as compared to approximately $16.2 million as of December 31, 2019.
  • Net sales were nil and remained the same for the same period of 2019.
  • Loss from operations was approximately $77,015, due to our cost saving initiatives compared to approximately loss from operations of approximately $2.8 million. The decrease was mainly due to decreased bad debts expense of $2,692,953 during the three months ended September 30, 2020.
  • Net loss for three months ended September 30, 2020 was $671,280 or $(0.25) per fully diluted share compared to a net loss of approximately $4.1 million or $(2.54) per fully diluted share for the three months ended September 30, 2019. This decrease in net loss was mainly due to the decrease operating expenses resulting from decrease in bad debts expense, and decrease in interest expense.

About China Recycling Energy Corp.

China Recycling Energy Corporation (Nasdaq: CREG) (“CREG” or “the Company”) is based in Xi’an, China and provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories and coke plants in China. Byproducts include heat, steam, pressure, and exhaust to generate large amounts of lower-cost electricity and reduce the need for outside electrical sources. The Chinese government has adopted policies to encourage the use of recycling technologies to optimize resource allocation and reduce pollution. Currently, recycled energy represents only an estimated 1% of total energy consumption and this renewable energy resource is viewed as a growth market due to intensified environmental concerns and rising energy costs as the Chinese economy continues to expand. The Company’s management and engineering teams have over 20 years of experience in industrial energy recovery in China. For more information about CREG, please visit http://creg-cn.investorroom.com.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of CREG and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including, but not limited to, the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions relating to the registered direct offering and those discussed in the Company’s annual and periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

 
CHINA RECYCLING ENERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
 
  SEPTEMBER 30,
2020
(UNAUDITED) 		    DECEMBER 31,
2019 		 
           
ASSETS          
           
CURRENT ASSETS          
Cash $ 73,787,158     $ 16,221,297  
Accounts receivable, net   24,827,842       42,068,760  
Interest receivable on sales type leases   –       5,245,244  
Prepaid expenses   62,609       52,760  
Operating lease right-of-use assets, net   5,891       –  
Other receivables   45,641       1,031,143  
               
Total current assets   98,729,141       64,619,204  
               
NON-CURRENT ASSETS              
Investment in sales-type leases, net   –       8,287,560  
Long term deposit   –       15,712  
Operating lease right-of-use assets, net   –       54,078  
Property and equipment, net   27,704,004       27,044,385  
Construction in progress   –       23,824,202  
               
Total non-current assets   27,704,004       59,225,937  
               
TOTAL ASSETS $ 126,433,145     $ 123,845,141  
               
LIABILITIES AND STOCKHOLDERS’ EQUITY              
               
CURRENT LIABILITIES              
Accounts payable $ 2,253,884     $ 2,200,220  
Taxes payable   2,509,792       4,087,642  
Accrued interest on notes   7,599       –  
Notes payable, net of unamortized OID   591,974       –  
Accrued liabilities and other payables   1,182,642       1,184,751  
Operating lease liability   –       56,755  
Due to related parties   28,590       41,174  
Interest payable on entrusted loans   9,387,757       8,200,044  
Entrusted loan payable   20,979,731       20,480,214  
               
Total current liabilities   36,941,969       36,250,800  
               
NONCURRENT LIABILITIES              
Accrued interest on notes   –       368,362  
Income tax payable   5,782,625       5,782,625  
Notes payable, net of unamortized OID   –       1,552,376  
Long term payable   440,522       430,034  
Entrusted loan payable   293,681       286,689  
Refundable deposit from customers for systems leasing   –       544,709  
               
Total noncurrent liabilities   6,516,828       8,964,795  
               
Total liabilities   43,458,797       45,215,595  
               
CONTINGENCIES AND COMMITMENTS (NOTE 17 & 18)              
               
STOCKHOLDERS’ EQUITY              
Common stock, $0.001 par value; 10,000,000 shares authorized,
3,001,146 shares and 2,032,721 shares issued and outstanding as of
September 30, 2020 and December 31, 2019, respectively		   3,001       2,033  
Additional paid in capital   119,128,530       116,682,374  
Statutory reserve   14,667,404       14,525,712  
Accumulated other comprehensive loss   (3,959,045 )     (6,132,614 )
Accumulated deficit   (46,865,542 )     (46,447,959 )
               
Total Company stockholders’ equity   82,974,348       78,629,546  
               
TOTAL LIABILITIES AND EQUITY $ 126,433,145     $ 123,845,141  
               

The accompanying notes are an integral part of these consolidated financial statements.

 
CHINA RECYCLING ENERGY CORPORATION
AND SUBSIDIARIES
 
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(UNAUDITED)
 
  NINE MONTHS ENDED
SEPTEMBER 30, 		    THREE MONTHS ENDED
SEPTEMBER 30, 		 
  2020     2019     2020     2019  
                       
Revenue                      
Contingent rental income $ –     $ 702,973     $ –     $ –  
                               
Interest income on sales-type leases   –       173,360       –       –  
                               
Total operating income   –       876,333       –       –  
                               
Operating expenses                              
Bad debts (reversal)   (1,659,101 )     5,508,377       (9,479 )     2,683,474  
Loss on disposal of systems   –       1,250,731       –       –  
General and administrative   477,358       2,160,017       86,494       142,681  
                               
Total operating (income) expenses   (1,181,743 )     8,919,125       77,015       2,826,155  
                               
Income (loss) from operations   1,181,743       (8,042,792 )     (77,015 )     (2,826,155 )
                               
Non-operating income (expenses)                              
Gain (loss) on note conversion   (496,853 )     24,240       (298,523 )     24,240  
Interest expense-inducement on note conversion   –       (893,958 )     –       –  
Interest income   124,305       120,903       51,688       38,293  
Interest expense   (1,037,183 )     (5,888,819 )     (340,155 )     (2,094,899 )
Other income (expenses), net   (47,903 )     332,397       (7,275 )     1,919  
                               
Total non-operating expenses, net   (1,457,634 )     (6,305,237 )     (594,265 )     (2,030,447 )
                               
Loss before income tax   (275,891 )     (14,348,029 )     (671,280 )     (4,856,602 )
Income tax benefit   –       (3,041,884 )     –       (755,840 )
                               
Net loss attributable to China Recycling Energy Corporation   (275,891 )     (11,306,145 )     (671,280 )     (4,100,762 )
                               
Other comprehensive items                              
Foreign currency translation gain (loss)   2,173,569       (2,582,759 )     3,456,157       (2,486,200 )
                               
Comprehensive income (loss) attributable to China Recycling Energy Corporation $ 1,897,678     $ (13,888,904 )   $ 2,784,877     $ (6,586,962 )
                               
Basic and diluted weighted average shares outstanding   2,381,180       1,467,114       2,687,609       1,615,919  
                               
Basic and diluted loss per share $ (0.12 )   $ (7.71 )   $ (0.25 )   $ (2.54 )
 
* The basic and diluted loss per share are the same due to antidilutive options and warrants resulting from the Company’s net loss.

The accompanying notes are an integral part of these consolidated financial statements.

 
CHINA RECYCLING ENERGY CORPORATION AND SUBSIDIARIES
 
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
 
  NINE MONTHS ENDED
SEPTEMBER 30, 		 
  2020     2019  
           
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss $ (275,891 )   $ (11,306,145 )
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:              
Amortization of OID and debt issuing costs of notes   45,833       84,661  
Stock compensation expense   10,999       –  
Operating lease expenses   49,034       –  
Bad debts expense (reversal)   (1,659,101 )     5,508,377  
Loss on disposal of 40% ownership of Fund Management Co   –       46,761  
Loss on transfer of Chengli Boxing system   –       628,170  
Loss on transfer of Xuzhou Huayu system   –       399,601  
Loss on transfer of Shenqiu Phase I & II systems   –       209,707  
Loss on disposal of fixed assets   –       289  
Loss (gain) on note conversion   496,853       (24,240 )
Interest expense-inducement on note conversion   –       893,958  
Changes in deferred tax   –       (3,044,371 )
Changes in assets and liabilities:              
Interest receivable on sales type leases   –       (171,506 )
Collection of principal on sales type leases   13,959,334       –  
Accounts receivable   43,765,943       64,306  
Prepaid expenses   (8,339 )     (20,320 )
Other receivables   (3,141 )     (132,920 )
Accounts payable   –       (2,857,402 )
Taxes payable   (2,133,778 )     (1,323,919 )
Payment of lease liability   (57,442 )     –  
Interest payable on entrusted loan   962,052       5,551,651  
Accrued liabilities and other payables   46,968       (109,867 )
Refundable deposit for systems leasing   –       (481,462 )
               
Net cash provided by (used in) operating activities   55,199,324       (6,084,671 )
               
CASH FLOWS FROM INVESTING ACTIVITIES:              
Proceeds from disposal of property & equipment   –       5,106  
               
Net cash provided by investing activities   –       5,106  
               
CASH FLOWS FROM FINANCING ACTIVITIES:              
Issuance of notes payable   –       2,000,000  
Issuance of common stock   497,187       3,309,475  
               
Net cash provided by financing activities   497,187       5,309,475  
               
EFFECT OF EXCHANGE RATE CHANGE ON CASH   1,869,350       (1,607,514 )
               
NET INCREASE (DECREASE) IN CASH   57,565,861       (2,377,604 )
CASH, BEGINNING OF PERIOD   16,221,297       53,223,142  
               
CASH, END OF PERIOD $ 73,787,158     $ 50,845,538  
               
Supplemental cash flow data:              
Income tax paid $ –     $ 223,369  
Interest paid $ –     $ –  
               
Supplemental disclosure of non-cash operating activities              
Transfer of Tian’an project from construction in progress to accounts receivable $ 23,771,386     $ –  
               
Supplemental disclosure of non-cash operating and financing activities              
Transfer of Xuzhou Huayu Project and Shenqiu Phase I & II projects to Mr. Bai $ –     $ 34,931,358  
Conversion of convertible debt into common shares $ –     $ 1,272,000  
Conversion of long-term notes into common shares $ 1,442,086     $ –  

The accompanying notes are an integral part of these consolidated financial statements.

Investor Relations Inquiries:
Vivian Chen
[email protected]



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JLL Income Property Trust Sells Los Angeles Industrial Property, Securing Strong Return

PR Newswire

CHICAGO, Nov. 16, 2020 /PRNewswire/ — JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), announced the sale of an industrial warehouse located in the Los Angeles submarket of Valencia, California at a substantial premium to its acquisition price. It was sold to the current tenant for $5.6 million, representing appreciation of 35% above the original purchase price. This property was initially acquired in 2016 as part of a broader five-building warehouse portfolio in the Valencia market that JLL Income Property trust acquired as it was ramping up its allocation to the industrial property sector.

“This sale is a proof point in our thesis that investing in well-located, institutional quality industrial properties is a winning formula despite uneven market conditions, and it is another clear indicator that real estate capital markets are open for business,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “Our strategy of investing in core properties, which for years has included prudently increasing our allocation to the industrial property sector, continues to generate stable, reliable cashflow.”

“On occasion, strong demand from certain tenants to own their own building also provides the added benefit of harvesting attractive gains on sale,” he continued. “In addition to maximizing value by selling the asset at a premium to its acquisition price, we were also able to de-risk our portfolio given an upcoming lease expiration. The sale eliminated this near-term rollover risk and potential vacancy.”

At just over 31,000 square feet this property is better suited for the owner/occupier market given its smaller footprint. Realized returns on the round-trip sale were an approximate unlevered, pre-fee 11.4% internal rate of return and an equity multiple of nearly 1.5 times over the four-year hold period. Proceeds from the sale will be reinvested to further diversify JLL Income Property Trust’s portfolio, which today includes $780 million of industrial holdings in 34 buildings across 11 key markets, representing an approximate 26% allocation within JLL Income Property Trust’s $3.1 billion portfolio.

Since JLL Income Property Trust’s inception in 2012, it has sold 37 properties, generating proceeds of more than $750 million. All dispositions traded on an arms-length basis at plus/minus 2% of their most recently independently appraised value.

Swaringen further noted, “The sale demonstrates our discipline of selling properties when values are maximized, and point-forward returns are enhanced by redeploying capital into more attractive risk-adjusted return opportunities. It also demonstrates the attractiveness of certain assets in our core, institutional portfolio even in what might be viewed as a challenging capital markets environment today.”

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.

About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.

About LaSalle Investment Management
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $65 .7 billion of assets in private and public real estate property and debt investments as of Q3 2020. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.


Valuations, Forward Looking Statements and Future Results


This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.


Contact: Scott Sutton 


Telephone:  +1 224 343 5538


Email:  [email protected]   

 

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SOURCE JLL Income Property Trust

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Leading New Zealand Service Provider Signs Multimillion-Dollar Object Storage Deal with Cloudian

Computer Concepts Ltd. Achieves 5X Performance Improvement and Estimated 20% Cost Savings

CHRISTCHURCH, New Zealand, Nov. 16, 2020 (GLOBE NEWSWIRE) — Cloudian® today announced it has signed a deal with Computer Concepts Ltd. (CCL) to provide object storage technology to CCL’s New Zealand customers through the Vault Managed Service, with a particular focus on the government sector. The multimillion-dollar deal speaks to the growing role of object storage in managing and protecting data in the modern application workloads that are increasingly driving New Zealand’s digital agenda, particularly in hybrid cloud environments.

CCL is New Zealand’s largest locally focused information and communications technology (ICT) service provider. The Spark NZ-owned company has expanded in recent years through customer growth and a number of mergers and acquisitions, including a merger with Revera last year. CCL now has more than 1,000 clients and 650 staff across New Zealand. The company was seeking an object storage provider, seeing the technology as a pivotal steppingstone to help customers transition to hybrid cloud.

“With public cloud soaring and the expected local entry of CCL’s strategic partner, Microsoft, in the next few years, NZ’s ICT future is certain to be hybrid,” said Richard Hansen, director portfolio services at CCL.

Also factoring into CCL’s desire for a modern storage solution was a recent report from the New Zealand Government’s Digital Council, which was convened to guide the nation’s transformation to a post-COVID digital economy. Recognizing how digital and data-driven innovation can help revitalize hard-hit sectors of the economy, the report recommended public infrastructure projects be re-framed from being “shovel-ready” to being “sensor-ready.”

“We see object storage as essential to this sensor-ready focus as it is ideally matched to use cases such as videos, mobile apps, IoT and other areas central to where our technology needs are going,” Hansen added. “We needed a specialist object storage provider, rather than a company that just offers it, to meet current and future ICT demand.”

As the leading object storage specialist and most widely deployed independent provider of object storage systems, Cloudian was a perfect solution to replace version one of Vault. CCL deployed a Cloudian HyperStore system with a storage capacity in excess of five petabytes (5000 terabytes) – the data equivalent of over 17 years of 24/7 full HD video recording.

“We particularly liked HyperStore’s scalability, performance, low TCO, and fully native compatibility with the S3 API—the widely adopted protocol of public cloud storage,” said Hansen.

In the short time since deploying the Cloudian solution, CCL has already benefited from a five-fold performance improvement for data ingress and egress (inbound and outbound), while costs have decreased by an estimated 20%. Cloudian has also decoupled CCL’s hardware and software, enabling it to distribute workloads strategically across commodity and high-performance storage, increasing efficiency and further lowering costs. In addition, HyperStore’s fully native S3 API enables CCL to easily move data between public and private cloud environments as hybrid cloud becomes the model of choice in New Zealand.

CCL has activated HyperStore in more than 100 customer environments to date, mostly focused on backup and recovery applications initially. Moving forward, the company plans to leverage Cloudian for additional use cases over time. This includes incorporating Cloudian’s Object Lock solution for ransomware protection, which is becoming an important security feature as cybercrime rises. Object Lock creates an immutable copy of backup data, making it invulnerable to hacker encryption and deletion and, thereby, enabling users to quickly restore an uninfected copy of their data in the event of a ransomware attack.

The deal also leverages HPE’s storage infrastructure-as-a-service delivered under a GreenLake model, which provides a cost-effective, high-performance platform on which to run Cloudian’s technology.

“According to IDC, object storage capacity shipments are expected to increase at a 40% compound annual growth rate from 2020 to 20241,” said James Wright, regional director A/NZ and Oceania, at Cloudian. “In New Zealand, object storage has emerged as one of the key drivers for hybrid cloud and data security—trends which have accelerated during the pandemic.

“CCL is at the forefront in helping the country’s top government agencies and largest enterprises adapt to this new reality, and we’re proud to be partnering with CCL to bring the data management and protection benefits of object storage to these customers.”

Cloudian officially launched in New Zealand and Australia in July and announced the onboarding of a number of key partners across the region in August.

_______________________________

IDC Worldwide File- and Object-Based Storage Forecast, 2020–2024, June 2020, Doc. #US45992520.

About CCL

CCL supports clients at every step in the management and modernization of their business technology. From government departments, local governments and DHBs to energy providers, insurers, and special projects, CCL’s end-to-end IT management, cloud platforms, and technology services are tested and proven by some of New Zealand’s most demanding organizations. Learn more at www.concepts.co.nz.

About
Cloudian

Cloudian is the most widely deployed independent provider of object storage. With a native S3 API, it brings the scalability and flexibility of public cloud storage into the data center while providing ransomware protection and reducing TCO by 60% or more compared to traditional SAN/NAS and public cloud. The geo-distributed architecture enables users to manage and protect object and file data across sites—on-premises and in the cloud—from a single platform. Available as software or appliances, Cloudian supports conventional and containerized applications. Learn more at cloudian.com.

U.S. Media Contact

Jordan Tewell
10Fold Communications
[email protected]
+1 415-666-6066

EMEA Media Contact

Will McCurdy
Red Lorry Yellow Lorry
[email protected]
+44 (0) 20 7403 8878

ANZ Media Contact

Oisín O’Callaghan
Watterson
[email protected]
+61431612386



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BABA Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Alibaba Group Holding Limited Shareholders of Class Action and Lead Plaintiff Deadline: January 12, 2021

BABA Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Alibaba Group Holding Limited Shareholders of Class Action and Lead Plaintiff Deadline: January 12, 2021

NEW YORK–(BUSINESS WIRE)–
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Alibaba Group Holding Limited (“Alibaba” or the “Company”) (NYSE: BABA) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Alibaba securities between October 21, 2020 and November 3, 2020, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/baba.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Ant Group did not meet listing qualifications or disclosure requirements for certain material matters; (2) certain impending changes in the Fintech regulatory environment would impact Ant Group’s business; (3) as a result of the foregoing, Ant Group’s IPO was reasonably likely to be suspended; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/baba or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Alibaba you have until January 12, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz

212-697-6484 | [email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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IQST – iQSTEL Reports 133% Revenue Growth to $29 Million for the Nine Months Ended September 30, 2020 Over the Same Period in 2019

PR Newswire

NEW YORK, Nov. 16, 2020 /PRNewswire/ — iQSTEL, Inc. (USOTC: IQST), an international telecommunication and fintech service provider, today announced reporting $29 million in revenue for the nine months ended September 30, 2020 – a 133% increase over the $12 million reported for the same period the previous year.  IQST posted with the SEC its Form 10-Q including results of operations for the 3rd quarter of the 2020 fiscal year on Friday, November 13, 2020.

iQSTEL logo (PRNewsfoto/iQSTEL, Inc.)

In addition to reporting dramatic revenue growth, the company’s shareholder base has increased and now exceeds 2,000.  Despite the fact that the Company still recorded losses for the three and nine months ended September 30, 2020 and 2019, the bottom line is improving and moving toward profitability showing a loss of only $0.01.

See the full report:

https://www.otcmarkets.com/filing/html?id=14500913&guid=HXMeUqJE71zSi3h

Now that the company has published its Q3 earnings report, Goldman Small Cap Research plans to issue an update to its recent Analyst Research Report published October 27th with a $0.54 Target PPS following IQST.

See https://www.goldmanresearch.com/202010271291/Opportunity-Research/greatest-upside-limited-downside.html

The Q4 is on tracks, with a record revenue of $5.1 Million in Oct 2020, we plan to surpass the $42 Million revenue forecast with improved operating margins resulting from new business initiatives oriented to increase gross profits. For example, the execution of the LOI with Alternet Systems (ALYI) ushering IQST’s entery into the Electric Vehicle (EV) Industry, and the execution of the LOI with PayVMS for the development of the VISAMoneyOne.com product, entering in the Financial Services Industry.

About iQSTEL Inc (Updated):

iQSTEL Inc (OTC: IQST) (www.iQSTEL.com) is a US-based publicly-listed company offering leading-edge Telecommunication and Technology Services for Global Markets, with presence in 13 countries.  The company provides services to the Telecommunications, Financial Services, Liquid Fuel Distribution and Electric Vehicle Industries. iQSTEL has 3 Business Divisions: Telecom, Technology and Fintech, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, and itsBchain. The Company has a extensive portfolio of products and services for its clients: SMS, VoIP, 4G & 5G international infrastructure connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Gas Platform, IoT Smart Electric Vehicle Platform, Mobile Number Portability Application MNPA (Blockchain), Settlement & Payments Marketplace (Blockchain), Visa Debit Card, Money Remittance, Pay Mobile Phone Services among others.

About Etelix.com USA, LLC:

Etelix.com USA LLC www.etelix.com is a wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami, Florida-based international telecom carrier founded in 2008 that provides telecom and technology solutions worldwide, with commercial presence in North America, Latin America, and Europe. Enabled by its 214-license granted by the Federal Communications Commission (FCC), Etelix provides International Long-Distance voice services for Telecommunications Operators (ILD Wholesale), and Submarine Fiber Optic Network capacity for internet (4G and 5G). Etelix was founded in 2008 and has been profitable since inception.

About SwissLink Carrier AG:

SwissLink Carrier AG www.swisslink-carrier.com is a 51% owned subsidiary of iQSTEL Inc. SwissLink Carrier AG is a Switzerland based international Telecommunications Carrier founded in 2015 providing international VoIP connectivity worldwide, with commercial presence in Europe, CIS and Latin America. SwissLink Carrier AG is a Swiss licensed Operator, having a domestic Interconnect with Swisscom, allowing their international Carrier Customers direct terminations via SwissLink into all Switzerland Fix & Mobile Networks. Since the takeover from Swissphone in November 2018 and the rename into SwissLink, they operate on a profitable level.

About QGlobal SMS LLC.:

QGlobal SMS LLC www.qglobalsms.com is a 51% owned subsidiary of iQSTEL Inc. QGlobal SMS is a USA based company and a commercial brand founded in 2020 specialized in international and domestic SMS termination, with emphasis on the Applications to Person (A2P) and Person to Person (P2P) for Wholesale Carrier Market and Corporate Market in US. QGlobal SMS has commercial presence in US, Mexico, Latin America, EMEA (Europe, Middle East, Asia) and Africa, through our SMS service providers based in Austin, TX and Miami, FL Our Austin-based SMS service provider is specialized in the SMS traffic exchange between US and Mexico, and our Miami-based SMS service provider is focused in the development of Latin America and the rest of the world. QGlobal SMS has robust international interconnection with Tier1 SMS Aggregators, guarantying its customers high quality and low termination rates, over more than 100 countries worldwide.

About Alcyon Cloud SMS S.A.S (Commercial Brand SMSDirectos.com ):

Alcyon Cloud SMS S.A.S. (Commercial Brand SMSDirectos.com), is a whole subsidiary of QGlobal SMS, a Colombian-based Application and Content Provider. Alcyon Cloud SMS (SMSDirectos.com) is registered with the Secretary of Information and Communication Technology (ICT) in Colombia, offering services to government, enterprises, small and medium business, as well as end-users. Using SMSDirectos’ existing network, they plan to expand services from SMS to offer omnichannel products and services such as: SMS, Emails, RCS (Rich Communications Services), Social Media Channels (Whats App, Messenger, etc), WebRTC (Web Real-Time Communication), VoIP (IP-PBX, SIP Trunking) ChatBots (Artificial Intelligence Based), SMS to Email, and Email to SMS.

About IoT Labs MX SAPI:

IoT Labs MX SAPI www.iotlabs.mx , a subsidiary of iQSTEL Inc, is an Internet of Things (IoT) Mexican technology development company, creator of the “IoT Smart Gas” Platform and Application. The IoT Smart Gas platform www.iotsmartgas.com consists of an IoT field device installed on the LP gas tank (adaptable to virtually any gas or liquid storage tank) and, thanks to the Internet of Things (IoT) technology via Sigfox or GSM network connectivity, allows remote managed and improved logistic processes of refilling, usage tracking and tank monitoring in real-time by the Smart Gas mobile app. The new GSM tracking feature allows for mobile use including ground, air, and sea tank monitoring.

About itsBchain LLC.:

itsBchain LLC www.itsBchain.com is a 75% owned subsidiary of iQSTEL Inc. itsBchain is a blockchain technology developer and solution provider, with a strong focus on the telecom sector.  The company is the final stage of development of a series of blockchain solutions aimed at using the blockchain ledger and smart contract solutions to enable more efficiency, quickness in execution and fraud-prevention in the telco industry.  Specifically, the company is developing a solution that will enable users and carriers to transfer mobile phone numbers with just a few clicks, allowing users and carriers the ability to transfer retail users from one mobile carrier to another instantly.  Additionally, the company is finalizing a carrier-grade marketplace solution to procure payments between carriers for cross-traffic of VoIP, SMS and data realtime as traffic is crossed between carriers.  This marketplace will allow for instant payment settlement as well as the prevention of fraud between carriers.

Safe Harbor Statement: Statements in this news release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

iQSTEL Inc.

IR US Phone: 646-740-0907, IR Email: [email protected]

Source: iQSTEL Inc. and its subsidiaries:

www.iqstel.com ; www.etelix.com ; www.swisslink-carrier.com ; www.qglobalsms.com ; www.smsdirectos.com ; www.iotlabs.mx ; www.iotsmartgas.com ; www.itsBchain.com  

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SOURCE iQSTEL, Inc.

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Suzano Joins in Dow Jones Sustainability Index

Suzano Joins in Dow Jones Sustainability Index

Selection considers only the best companies in each sector assessed globally

SÃO PAULO–(BUSINESS WIRE)–Suzano, a global reference in the manufacture of bioproducts developed from the cultivation of eucalyptus, has been selected to join the notable 2020-2021 portfolio of the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets). The index is composed of only 10% of the best companies in each sector, from among the 780 biggest companies assessed from the 20 countries characterized as emerging markets.

Apart from Suzano, only 10 other Brazilian companies have been included in the new portfolios underlying the DJSI indices, as announced on November 13 by the Swiss assessment company SAM, a member of S&P Global.

The prestigious Dow Jones Sustainability Index was created in 1999 to identify companies with the best sustainability practices by assessing several economic, environmental and social criteria, with the focus on creating long-term value for shareholders. The annual selection process is audited externally by Deloitte.

“We will continue to dedicate ourselves to ensure that our environmental, social and governance practices are continuously recognized facing the dynamic ESG agenda and the growing global focus on long-term value creation in a sustainable manner,” says Marcelo Bacci, CFO and IRO of Suzano.

About Suzano:

Suzano, the company resulting from the merger of Suzano Pulp & Paper and Fibria, is committed to being a global reference in the sustainable use of natural resources. The world’s leading producer of eucalyptus pulp and one of Latin America’s largest paper producers, Suzano exports to more than 80 countries and, through its products, plays a part in the lives of over two billion people. With ten mills and the joint operation Veracel, Suzano has annual installed capacity of 10.9 million tons of market pulp and 1.4 million tons of paper. Suzano has more than 35,000 direct and indirect employees and for over 90 years has invested in innovative solutions based on eucalyptus cultivation that enable it to substitute the use of fossil-based materials with renewable bio-based materials. The company adopts the highest standards of corporate governance on the exchanges where its stock is traded, namely the B3 in Brazil and the NYSE in the United States.

PLANIN – Suzano’s PR Agency

Angélica Consiglio, Beatriz Imenes and team – www.planin.com

E-mail: [email protected] – Phone: +55 (11) 98758-6504

KEYWORDS: South America Brazil

INDUSTRY KEYWORDS: Forest Products Natural Resources Other Manufacturing Manufacturing

MEDIA:

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Seneca Centre for Innovation in Life Sciences launches

Applied research facility connects academics and industry, with a focus on diagnostics and cosmetics

Toronto, Nov. 16, 2020 (GLOBE NEWSWIRE) — Seneca has launched the Seneca Centre for Innovation in Life Sciences (SCILS) a first-of-its-kind applied research facility, where students and faculty can connect directly with industry partners to develop, enhance and validate innovations in diagnostics and cosmetics.

The project was made possible through a $2 million Innovation Enhancement grant from the Natural Sciences and Engineering Research Council (NSERC).

“SCILS provides an environment for students, faculty and businesses to collaborate on new technologies and products for the life sciences diagnostics and cosmetic science sectors,” said Ben Rogers, Dean of Seneca Innovation. “Applied research partnerships between industry and academia have always been integral to the regional innovation ecosystem. The impacts of these partnerships become clear when businesses grow and highly-qualified students get a head start in building their careers.”

Research conducted at SCILS will be led by expert faculty from Seneca’s School of Biological Sciences & Applied Chemistry, along with the support of laboratory technicians and student research assistants.

SCILS will focus on life sciences diagnostics, which include metabolomics testing, biochemical diagnostics, immunodiagnostics and molecular diagnostics in both clinical and industrial settings. There will also be a focus on developing new cosmetic products that appropriately meet the scientific regulatory requirements for consumer use and marketing, leveraging expertise from Seneca’s Cosmetic Science program and assisting companies across the country to address this product development challenge.

“Congratulations to Seneca for launching the SCILS program. SCILS will have a positive impact on the diagnostics innovation ecosystem in Ontario as a catalyst to actively bridge the academic and industrial communities toward new discoveries and scientific excellence in the biotechnology sector,” said Ryan Hayman, VP, Research and Development at ChipCare Corp. “ChipCare has partnered with Seneca on several R&D projects in the past few years and we’re really looking forward to kicking off several key projects in the inaugural year of the SCILS program to advance our strategic roadmap.” 

About Seneca

Combining career and professional skills training with theoretical knowledge, Seneca provides a polytechnic education to 30,000 full-time and 60,000 part-time students. With campuses in Toronto, York Region and Peterborough and education partners around the world, Seneca offers degrees, graduate certificates, diplomas and certificates in more than 300 full-time, part-time and online programs, now most of them virtually. Seneca’s credentials are renowned for their quality and respected by employers. Co-op and work placements, applied research projects, entrepreneurial opportunities and the latest technology ensure that Seneca graduates are highly skilled and ready to work.

Find out more about Seneca.

Follow us on Twitter.

About ChipCare

ChipCare Corp., is a Toronto-based company developing a highly versatile point-of-care (POC) diagnostic platform – through which clinicians can rapidly and accurately perform lab quality tests to aid in the diagnosis OR monitoring of a wide range of infectious diseases.



Caroline Grech
Seneca
[email protected]