Fintech PR
TIMIA Capital Announces Year End and Fourth Quarter Financial Results
TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced financial results for the fourth quarter and year ended November 30, 2019.
2019 Annual Highlights include:
- Record revenue of $3,288,263, up 89% over prior year
- Interest income from investments, included in total revenue, doubled to $3,046,608 compared to last year
- Total assets grew over 90% to $27.1 million compared with the prior year. Cash balance, as part of assets, was $4,662,156 versus $3,749,949 as at November 30, 2018
- TIMIA’s loan investment portfolio (Loans receivable) increased 123% to $21,596,037 compared to $9,680,390 in the prior year period
- Adjusted EBITDA* of $247,431 compared with an Adjusted EBITDA of $1,342,749 for the prior year. The change in Adjusted EBITDA reflects the $1,582,906 intermittent gains from loan buyouts in the prior year
- The Company posted a net loss of $1,087,567 compared with a small gain of $18,838 in the prior year. The year over year change reflects the $1,582,906 intermittent gains from loan buyouts in the prior year
- Net loss per share was $0.03 compared with breaking even in the prior year
- A total of $15,895,000 in combined financing has been raised including $545,000 in debentures with warrants by way of a private placement of the Company and $15,350,000 in capital raised in TIMIA Capital 1 Limited Partnership funds
Fourth Quarter 2018 Highlights Include:
- Record quarterly revenue of $998,431, up 99% compared to the same period last year
- TIMIA dispersed US$2,300,000 to two US companies
- TIMIA provided San Francisco-based Resilio, Inc. with a $3,000,000 facility with an initial advance of $900,00
- TIMIA provided a Connecticut-based software company with a $3,000,000 facility with an initial disbursement of $1,400,000
- TIMIA provided follow on investments of US$1,500,000 to three US companies
- Adjusted EBITDA loss of $50,196 compared with an Adjusted EBITDA of $100,347 for the prior year period
“We’ve achieved record growth in revenue and assets under management for the third year in a row by leveraging our fintech platform and successful business model,” said Mike Walkinshaw, CEO of TIMIA. “Our reputation, target markets and related deal flow is growing in the SaaS industry, along with our non-dilutive growth capital for early stage technology companies. We have seen a jump in referred business from our existing network of clients as we continue to broaden our marketing presence to attract new business. Our portfolio of SaaS companies has never been stronger as our fintech platform improves with each potential client.”
Detailed Financial Review
During the year ended November 30, 2019, the Company continued to grow its revenue-financing (“RF”) business by completing 9 RF investments as well as successfully exiting 1 investment from its loan portfolio. The Company’s revenue is primarily interest income generated under the Company’s RF model. Interest income in the year ended November 30, 2019 was a record $3,046,608 compared to $1,521,999 in the prior fiscal year.
The 100% increase in interest income is driven from two sources:
- As the Company makes new investments, the number of monthly payments derived from the portfolio grows.
- Under the RF structure, as the revenue of the underlying portfolio grows, the investees make larger blended interest and principal payments to the Company.
Income from transaction and other fees was $241,655 in the year ended November 30, 2019 compared to $216,240 in the prior fiscal year, resulting in a record total revenue of $3,288,263.
TIMIA continues to build the value and size of its portfolio by making new investments and follow-on investments in existing portfolio companies, and actively assisting in their growth plans. Furthermore, management expects the payment amounts to increase over time as both new and follow-on investments are made and as payments increase from the underlying portfolio. During the year ended November 30, 2019, TIMIA benefited from increased payments (combined principal and interest) as a result of the strong revenue growth of its underlying portfolio. At the same time, the Company increased its investments in infrastructure, including key staff and brand awareness.
Total expenses for the year ended November 30, 2019 were $3,461,837 compared with $2,873,167 for the prior year. The increase in expenses reflect TIMIA’s investment in infrastructure, increase in interest expense resulting from the issuance of debentures with warrants, marketing and related deal origination expenses and brand awareness.
During the year ended November 30, 2019, the Company posted net loss of $1,087,567 compared with net income of $18,838 for the last fiscal year. The year over year change is primarily due to the Company recognizing intermittent investment gains from loan buyouts of $1,582,906 in 2018 but no material gains in 2019.
As at November 30, 2019, the Company’s cash balance was $4,662,156 and working capital was $4,571,341 compared to $3,749,949 and $3,614,268 respectively as at November 30, 2018.
SOURCE TIMIA Capital Corp.
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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- 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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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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