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Engagement Labs Releases FY 2018 Audited Results, Launches Prospectus Offering of approximately $1,800,000 in Units Led by Gravitas Securities, Proposes Debt Reorganization for approval by Debentureholders and 2:1 Share Consolidation

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Engagement Labs Inc. (TSXV: EL) (OTCQB: ELBSF) released results for its fiscal year ended December 31, 2018. Audited consolidated Financial Statements and Management Report are available on SEDAR’s website at www.sedar.com.

Fiscal Year 2018 Audited Results Released

  • TotalSocial® revenue increased by 113% from year ended December 31, 2017 to year ended December 31, 2018.
  • The number of brands using TotalSocial® increased to 20 during 2018, up from 9, and the number of industry sectors increased from 6 to 11. New sectors include Sports, Retail/Apparel, Beverage, Agency and Travel, to go along with Media, Beauty, Telecom, Software, Food and Financial.
  • Total revenue, including both TotalSocial® and the Company’s legacy products, was $3,973,704 for the year ended December 31, 2018, an increase of 15% compared to $3,469,767 for the year ended December 31, 2017.  In the US, year-over-year growth was 26%, while the UK saw a decline for the year.
  • Gross profit increased by 25%, from $1,457,485 for the year ended December 31, 2017 to $1,818,527 for the year ended December 31, 2018. As a percentage of revenue, the gross margin increased by 4%, from 42% for the year ended December 31, 2017 to 46% for the year ended December 31, 2018.
  • Non-GAAP Adjusted EBITDA loss increased by 20%, from –$2,684,152 for the year ended December 31, 2017 to –$3,228,681 for the year ended December 31, 2018. Operating expenses before extraordinary items increased by 18%, from $5,514,535 for the year ended December 31, 2017 to $6,533,005 for the year ended December 31, 2018.
  • The net loss before income taxes for the year ended December 31, 2018 increased to –$5,628,884, up 26% or –$1,170,877 from –$4,458,007 for the year ended December 31, 2017. Basic and diluted loss per share was –$0.03 for the year ended December 31, 2018, compared to –$0.05 for the year ended December 31, 2017.

Fourth Quarter Financial Highlights

  • TotalSocial® Revenue of $1,109,923 for Q4 2018 represents a 137% increase vs Q4 2017 of $467,908, and a 34% increase vs Q3 2018 of $829,739.
  • Total revenue, including both TotalSocial® and the Company’s legacy products was $1,139,156 for Q4 2018, an increase of 29% from $883,342 in Q3 2018, and an increased of 15%, from $989,553 for Q4 2017.
  • Gross margin increased to 54% in Q4 2018, from 40% in Q3 2018 and from 39% in Q4 2017.
  • Operating expenses, before extraordinary items, have increased to $1,774,244 in Q4 2018, up 21% or $301,912 from $1,472,332 in Q3 2018, and up 5% or $83,644 from $1,690,600 in Q4 2017. The increase from 2017 reflects management’s commitment to invest in sales and marketing to drive TotalSocial® technology sales growth, including the hiring of a Chief Revenue Officer in late December 2017.
  • Excluding extraordinary items and future income taxes, the net loss has increased to –$1,411,297 in Q4 2018, up 5% or –$61,745 from –$1,349,552 in Q3 2018, and down 9% or –$138,746 from –$1,550,043 in Q4 2017.
  • EBITDA loss of –$1,012,039 for Q4 2018, representing an increase of $30,190, from –$981,849 for Q3 2018, and an increase of –$465,427, from –$546,612 for Q4 2017.
  • Non-GAAP Adjusted EBITDA loss of –$735,594 for Q4 2018, representing an improvement of $11,838, from –$747,432for Q3 2018, and an improvement of $313,613, from –$1,049,207 for Q4 2017.
  • Operating expenses increased 17% or $212,074 from Q3 2017. The increase from 2017 reflects management’s commitment to invest in sales and marketing to drive TotalSocial® technology sales growth, including the hiring of a Chief Revenue Officer in late December.
  • Basic and diluted income per share was –$0.01 for Q4 2018 compared to –$0.01 for Q4 2017 and Q3 2018.
  • As at December 31, 2018, the Company had cash (excluding restricted cash) of $906,455, compared to $2,677,049as of December 31, 2017.

“I said a year ago that 2018 is shaping up to be a transformative year for Engagement Labs as TotalSocial is now resonating with clients and prospects,” said Ed Keller, CEO.  “Our year end results show the amount of progress we have made.  We grew our number of clients and our range of sectors served.”

Corporate Restructuring

Proposed Share Consolidation and Amendment to Terms of Outstanding Debentures
Engagement Labs has mailed a Notice of Special Meeting of Shareholders providing for the proposed consolidation of the common shares of the Company on a two-for-one basis effective on or about May 27, 2019.  The Meeting Materials also contemplate the approval of the issue of approximately 6,000,000 common shares on a post-consolidation basis at a price of $0.06 per share for fees owing to directors for 14 months of services for the period ended December 31, 2018.  The payment in shares is to conserve cash of Engagement Labs and is subject to approval of the TSX Venture Exchange.

Engagement Labs has mailed a Notice of Meeting and Management Information Circulars (“Meeting Materials”) to holders of the 1% Debentures, and separate Meeting Materials to 2% Debentures, both of which series are due September 28, 2020.  Engagement Labs is proposing to holders of 1% Debentures, of which there are approximately $4.23 million outstanding, and holders of 2% Debentures, of which there are approximately $1.6 million outstanding, to amend the terms of their debentures, subject to approval of 90% of the debentures outstanding of each series of debentures at a meeting or in writing, providing for the conversion of all of their outstanding debentures at a price of $0.11 per share for the 1% Debentures and $0.06 per share for the 2% Debentures, effective on or about May 27, 2019. These amendments, if approved, would cause all outstanding debentures to be cancelled and would substantially improve the Company’s financial position.  The pricing of the conversion of the debentures is subject to final approval of the TSX Venture Exchange.

Prospectus Offering 
The Company has entered into an agreement with Gravitas Securities Inc. (the “Agent”), pursuant to which the Agent has agreed to  sell on a commercially reasonable efforts basis by short form prospectus, up to 30,000,000 units of the Company (the “Units”) at a price of $0.06 per Unit for aggregate gross proceeds to the Company of up to $1,800,000. Each Unit will be comprised of one common share of the Company, one-half of one common share purchase warrant (each such whole common share purchase warrant, a “$0.10 Warrant”) and a second one-half of one common share purchase warrant (each such whole common share purchase warrant, a “$0.12 Warrant”). Each $0.10 Warrant will be exercisable into one common share at an exercise price of $0.10 per share for a period of 6 months after the Closing Date (as defined herein). Each $0.12 Warrant will be exercisable into one common share at an exercise price of $0.12 per share for a period of 2 years after the Closing Date. The offering is subject to a minimum offering amount of $1,500,000.

The Company has also agreed to grant the Agent an over-allotment option to purchase up to an additional 4,500,000 Units at the offering price, exercisable in whole or in part, for a period ending 30 days from and including the Closing Date. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the offering will be $2,070,000.

The Units will be offered in each of the provinces of British ColumbiaAlbertaManitoba and Ontario by short form prospectus.

The offering is expected to close on or about May 27, 2019 (the “Closing Date”) and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange, the consolidation of the common shares of the Company on a two-for-one basis having occurred, the conversion of certain outstanding debentures of the Company in accordance with their terms and the issuance of a receipt for a final short form prospectus.

The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of Engagement Labs Inc. in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the United States Securities Act of 1933, as amended, and applicable state securities laws or unless an exemption from such registration is available.

 

SOURCE Engagement Labs

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

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

https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

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https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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