Market Newsdesk

November 12, 2020 8:03 am

Genocea to Present at the Stifel 2020 Virtual Healthcare Conference

CAMBRIDGE, Mass., Nov. 12, 2020 (GLOBE NEWSWIRE) — Genocea Biosciences, Inc. (NASDAQ: GNCA), a biopharmaceutical company developing next-generation neoantigen immunotherapies, today announced that Chip Clark, president and chief executive officer, will present a corporate overview at the Stifel 2020 Virtual Healthcare Conference on Wednesday, November 18^th at 8:40 a.m. ET.

A live webcast of the presentation can be accessed by visiting the “Events and Presentations” tab of the investor relations section of the Genocea website at http://ir.genocea.com. A replay of the webcast will be archived for 90 days following the presentation.

About Genocea Biosciences, Inc.

Genocea’s mission is to conquer cancer by developing personalized cancer immunotherapies in multiple tumor types. Our unique ATLAS™ platform comprehensively profiles each patient’s T cell responses to potential targets, or antigens, on the tumor. ATLAS enables us to optimize the neoantigens for inclusion in our immunotherapies and exclude inhibitory antigens that can exert an immunosuppressive effect. We are advancing two ATLAS-enabled programs: GEN-009, our neoantigen vaccine and GEN-011, our neoantigen-specific cell therapy using T cells derived from peripheral blood. To learn more, please visit www.genocea.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Genocea cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time. Applicable risks and uncertainties include those identified under the heading “Risk Factors” included in Genocea’s Annual Report on Form 10-K for the year ended December 31, 2019 and any subsequent SEC filings. These forward-looking statements speak only as of the date of this press release and Genocea assumes no duty to update forward-looking statements, except as may be required by law.

Investor Contact:

Dan Ferry
617-430-7576
[email protected]

November 12, 2020 8:03 am

Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Precigen, Inc. f/k/a Intrexon Corporation of Class Action Lawsuit and Upcoming Deadline – PGEN

NEW YORK, Nov. 12, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against certain officers of Precigen, Inc. f/k/a Intrexon Corporation (“Precigen” or the “Company”) (NASDAQ: PGEN). The class action, filed in United States District Court for the Northern District of California, and docketed under 20-cv-07442, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired the Company’s securities between May 10, 2017 and March 2, 2020, both dates inclusive (the “Class Period”). Plaintiff seeks to recover compensable damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.

If you are a shareholder who purchased Precigen securities during the class period, you have until December 4, 2020, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

[Click here for information about joining the class action]

Precigen f/k/a Intrexon purportedly operates in the synthetic biology field and creates biologically-based products.

The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading because they misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operations, and prospects, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company was using pure methane as feedstock for its announced yields for its methanotroph bioconversion platform instead of natural gas; (ii) yields from natural gas as a feedstock were substantially lower than the aforementioned pure methane yields; (iii) because of the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock; (iv) the Company was under investigation by the SEC; and (v) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.

On March 2, 2020, during after-market hours, the Company filed a Form 10-K with the Securities and Exchange Commission (“SEC”), reporting the Company’s financial and operating results for the quarter and year ended December 31, 2019 (the “2019 10-K”). The 2019 10-K stated the following regarding the SEC’s investigation:

[I]n October 2018, the Company received a subpoena from the Division of Enforcement of the SEC informing the Company of a non-public, fact-finding investigation concerning the Company’s disclosures regarding its methane bioconversion platform.

Following the filing of the 2019 10-K, the Company’s stock price fell $0.67 per share, or 17.14%, to close at $3.24 per share on March 3, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

November 12, 2020 8:03 am

Marathon Patent Group Announces 2020 Fiscal Third Quarter Financial Results

Year Over Year Quarterly Revenues Increase 160%
Strengthened Balance Sheet with Current Cash of $27.1M
Since May 1, 2020, Company has Invested $72M to Grow Mining Operations

LAS VEGAS, Nov. 12, 2020 (GLOBE NEWSWIRE) — Marathon Patent Group, Inc. (NASDAQ:MARA) (“Marathon” or “Company”), the largest publicly traded Bitcoin self-mining company in North America, today announced its operating results for the three months and nine month periods ended September 30, 2020, as published in its Form 10-Q filed today with the Securities and Exchange Commission.

Recent Financial Highlights

Reported revenues of $835,184 and $1.7 million during the three and nine months ended September 30, 2020 as compared to $321,716 and $908,175 during the three and nine months ended September 30, 2019. For the three and nine months ended September 30, 2020, this represented an increase of $513,468 or 160% and an increase of $805,657 or 89% over the same period in 2019.
Operating loss was approximately $2.0 million and $4.9 million for the three and nine months ended September 30, 2020 and operating loss of $807,859 and $2.5 million for the three and nine months ended September 30, 2019.
Per share net loss was $(0.06) and $(0.28) per basic and diluted share for the three and nine months ended September 30, 2020 compared to $(0.12) and $(0.37) in the three and nine month periods ended September 30, 2019.
Cash used in operations was $1.4 million and $3.4 million during the three months and nine months ended September 30, 2020, respectively.
The Company had approximately $17.3 million of cash and cash equivalents as of September 30, 2020. Today, the Company has approximately $27.1 million of cash and cash equivalents.

Marathon’s Chief Financial Officer, Sim Salzman, commented, “We are pleased to announce sizeable year over year revenue growth of 160% and 89% respectively in the three and nine-month periods. During the quarter, the Company was able to enter into favorable purchase agreements with Bitmain that allowed for the material improvement in its current and future financial position. We look forward to continuing our aggressive growth trajectory, while taking advantage of recently executed long term agreements with fixed pricing regardless of increased bitcoin pricing.”

Recent Operational H
ighlights

Completed $6.9 Million upsized underwritten public offering of common stock
Purchased 700 next generation M31S+ ASIC Miners
Entered into a long-term purchase contract with Bitmain for the purchase of 10,500 next generation Antminer S-19 Pro ASIC Miners
Engaged Gateway to lead expanded investor relations program
Entered into joint venture with Beowolf Energy for 105-Megawatt bitcoin mining data center
Named Simeon Salzman as Chief Financial Officer
Purchased an additional 10,000 next generation Antminer S-19 Pro ASIC Miners
Materially strengthened balance sheet

Merrick Okamoto, Chief Executive Officer, stated, “Our third quarter represents the single most productive quarter in company history and since I took over the CEO role. While we reported record quarterly mining revenues, the majority of the fundamental improvements made to our business in the quarter are not represented in the current filing.

“With only 2,060 miners in operation in September when Bitcoin was trading at $10,000, the company generated $650,000 in Bitcoin revenue, our largest quarterly Bitcoin revenue in history. By the end of the 2^nd quarter in 2021, we will have 23,560 miners deployed which equates to a greater than 1100% increase in mining capacity. At current Bitcoin prices, our deployment of new miners has the potential to produce more than an 11 fold increase in our monthly revenue as compared to our September 2020 revenue production.”

About Marathon Patent Group

Marathon is a digital asset technology company that mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets.

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2019. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Lastly, with the current worldwide situation caused by COVID-19, there can be no assurances as to when we may see any recovery in the bitcoin market, and if so, whether any recovery might be significant.

Forward-Looking Statements

Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company’s Annual Reports on Form 10-K, as may be supplemented or amended by the Company’s Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

Marathon Patent Group Company Contact:

Jason Assad
Telephone: 678-570-6791
Email: [email protected]

Marathon Patent Group Investor Contact:

Gateway Investor Relations
Matt Glover and Charlie Schumacher
Telephone: 949-574-3860
Email: [email protected]

MARATHON PATENT GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS
(Unaudited)

	September 30,			December 31,
	2020			2019
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	17,252,110		$	692,963
Digital currencies		451,889			1,141
Deposit		13,269,670			–
Prepaid expenses and other current assets		627,552			800,024
Total current assets		31,601,221			1,494,128

Other assets:
Property and equipment, net of accumulated depreciation and impairment charges of $7,507,970 and $6,157,786 for September 30, 2020 and December 31, 2019, respectively		4,682,293			3,754,969
Right-of-use assets		224,954			297,287
Intangible assets, net of accumulated amortization of $189,804 and $136,422 for September 30, 2020 and December 31, 2019, respectively		1,020,196			1,073,578
Total other assets		5,927,443			5,125,834
TOTAL ASSETS	$	37,528,664		$	6,619,962

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Accounts payable and accrued expenses	$	1,010,188		$	1,238,197
Mining servers payable		–			513,700
Current portion of lease liability		93,197			87,959
Warrant liability		31,500			12,849
Total current liabilities		1,134,885			1,852,705
Long-term liabilities
Convertible notes payable		–			999,106
Note payable		62,500			–
Lease liability		44,361			120,479
Total long-term liabilities		106,861			1,119,585
Total liabilities		1,241,746			2,972,290

Commitments and Contingencies

Stockholders’ Equity:
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, no shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively		–			–
Common stock, $0.0001 par value; 200,000,000 shares authorized; 38,962,432 and 8,458,781 issued and outstanding at September 30, 2020 and December 31, 2019, respectively		3,897			846
Additional paid-in capital		147,554,790			109,705,051
Accumulated other comprehensive loss		(450,719	)		(450,719	)
Accumulated deficit		(110,821,050	)		(105,607,506	)
Total stockholders’ equity		36,286,918			3,647,672
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	37,528,664		$	6,619,962

MARATHON PATENT GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited)

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2020			2019			2020			2019
Revenues
Cryptocurrency mining revenue	$	835,184		$	321,716		$	1,713,832		$	908,175
Total revenues		835,184			321,716			1,713,832			908,175

Operating costs and expenses
Cost of revenue		1,636,046			478,811			3,529,770			1,486,039
Compensation and related taxes		614,604			409,609			1,908,741			1,224,900
Consulting fees		259,563			34,000			325,688			84,000
Professional fees		206,368			91,908			515,562			287,282
General and administrative		112,800			115,247			311,303			359,319
Total operating expenses		2,829,381			1,129,575			6,591,064			3,441,540
Operating loss		(1,994,197	)		(807,859	)		(4,877,232	)		(2,533,365	)
Other income (expenses)
Other income		7,983			300			114,391			181,195
Foreign exchange loss		–			–			–			(11,873	)
Loss on conversion of note		–			–			(364,832	)		–
Realized gain (loss) on sale of digital currencies		11,206			(11,236	)		15,466			13,208
Change in fair value of warrant liability		(21,875	)		68,551			(18,651	)		(7,753	)
Change in fair value of mining payable		–			–			(66,547	)		–
Interest income		2,466			8,428			4,845			30,802
Interest expense		–			(12,591	)		(20,984	)		(37,363	)
Total other (expenses) income		(220	)		53,452			(336,312	)		168,216
Loss before income taxes	$	(1,994,417	)	$	(754,407	)	$	(5,213,544	)	$	(2,365,149	)
Income tax expense		–			–			–			–
Net loss	$	(1,994,417	)	$	(754,407	)	$	(5,213,544	)	$	(2,365,149	)

Net loss per share, basic and diluted:	$	(0.06	)	$	(0.12	)	$	(0.28	)	$	(0.37	)
Weighted average shares outstanding, basic and diluted:		31,520,736			6,372,061			18,868,967			6,353,643


Net loss	$	(1,994,417	)	$	(754,407	)	$	(5,213,544	)	$	(2,365,149	)
Other comprehensive income:
Unrealized gain on foreign currency translation		–			–			–			–
Comprehensive loss attributable to Marathon Patent Group, Inc.	$	(1,994,417	)	$	(754,407	)	$	(5,213,544	)	$	(2,365,149	)

MARATHON PATENT GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY

Preferred Stock

Common Stock

Additional Paid-in Capital

Accumulated Deficit

Accumulated Other Comprehensive Loss

Total Stockholders’ Equity

Number

Amount

Number

Amount

Balance as of December 31, 2019

–

8,458,781

846

109,705,051

(105,607,506

)

(450,719

)

3,647,672

Stock based compensation

–

2,745,639

275

1,031,924

–

1,032,199

Issuance of common stock, net of offering costs/At-the-market offering

–

17,712,635

1,771

28,791,211

–

28,792,982

Common stock issued for purchase of mining servers

–

350,250

171,587

–

171,622

Common stock issued for note conversion

–

2,023,739

202

1,578,872

–

1,579,074

Issue common stock and warrant for cash

–

7,666,666

767

6,270,833

–

6,271,600

Warrant exercised for cash

–

4,722

5,312

–

5,313

Net loss

–

(5,213,544

)

–

(5,213,544

)

Balance as of September 30, 2020

–

38,962,432

3,897

147,554,790

(110,821,050

)

(450,719

)

36,286,918

Preferred Stock

Common Stock

Additional Paid-in Capital

Accumulated Deficit

Accumulated Other Comprehensive Income (Loss)

Total Stockholders’ Equity

Number

Amount

Number

Amount

Balance as of June 30, 2020

–

24,526,302

2,453

118,933,134

(108,826,633

)

(450,719

)

9,658,235

Stock based compensation

–

360,211

–

360,211

Issuance of common stock, net of offering costs/At-the-market offering

–

6,764,742

676

21,985,300

–

21,985,976

Issue common stock and warrant for cash

–

7,666,666

767

6,270,833

–

6,271,600

Warrant exercised for cash

–

4,722

5,312

–

5,313

Net loss

–

(1,994,417

)

–

(1,994,417

)

Balance as of September 30, 2020

–

38,962,432

3,897

147,554,790

(110,821,050

)

(450,719

)

36,286,918

MARATHON PATENT GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)

	For the Nine Months Ended
	September 30,
	2020			2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(5,213,544	)	$	(2,365,149	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		1,797,959			412,083
Amortization of patents and website		53,382			53,382
Realized gain (loss) on sale of digital currencies		(15,466	)		(13,208	)
Change in fair value of warrant liability		18,651			7,753
Change in fair value of mining payable		66,547			–
Stock based compensation		1,032,199			620,030
Amortization of right-of-use assets		72,332			67,602
Changes in operating assets and liabilities:
Accounts receivables		–			–
Digital currencies		(1,713,832	)		(908,175	)
Lease liability		(70,880	)		(66,707	)
Prepaid expenses and other assets		172,472			154,930
Accounts payable and accrued expenses		351,960			(163,822	)
Net cash used in operating activities		(3,448,220	)		(2,201,281	)
CASH FLOWS FROM INVESTING ACTIVITIES
Sale of digital currencies		1,278,550			918,502
Purchase of property and equipment		(3,133,908	)		(5,224	)
Deposit for purchase of the miners		(13,269,670	)		–
Net cash (used in) provided by investing activities		(15,125,028	)		913,278
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds received on issuance of notes payable		62,500			–
Proceeds from issuance of common stock/At-the-market offering		29,756,736			83,453
Offering costs for the issuance of common stock/At-the-market offering		(963,754	)		(3,636	)
Proceeds from issuance of common stock and warrant, net		6,271,600			–
Proceeds received on exercise of warrants		5,313			–
Net cash provided by financing activities		35,132,395			79,817

Net increase (decrease) in cash and cash equivalents		16,559,147			(1,208,186	)
Cash and cash equivalents — beginning of period		692,963			2,551,171
Cash and cash equivalents — end of period	$	17,252,110		$	1,342,985

Supplemental schedule of non-cash investing and financing activities:
Par value adjustment due to reverse split	$	–		$	1
Common stock issued for purchase of mining servers	$	171,622		$	2,233,773
Mining servers payable	$	–		$	1,852,477
Reduction of share commitment for purchase of mining servers	$	408,625		$	–
Common stock issued for note conversion	$	1,579,074		$	–

November 12, 2020 8:03 am

Major Teaching Hospital in Massachusetts Acquires XACT ACE™ Robotic System

The first hospital in the U.S. to offer Robotic Percutaneous Radiology Procedures

HINGHAM, Mass., Nov. 12, 2020 (GLOBE NEWSWIRE) — Lahey Hospital & Medical Center has acquired the XACT ACE™ Robotic System, for use in its leading Interventional Radiology service. ACE is the world’s first hands-free robotic technology combining advanced image-based procedure planning and navigation with robotic instrument insertion and steering capabilities enabling radiologists to deliver site-specific percutaneous solutions with accuracy, consistency, and efficiency. This benefits patients by enabling physicians to precisely target organs deep inside the body or facilitating the treatment of a disease in a location that is challenging to access.

“By investing in cutting-edge, hands-free robotic technology, we endeavor to further realize our mission of providing superior health care leading to the best possible outcome for every patient,” stated Dr. Christoph Wald, Chair of Radiology at Lahey Hospital & Medical Center. “Lahey Hospital & Medical Center chose to lead as the first hospital in the US offering robotic percutaneous procedures with this device.”

The XACT ACE Robotic system is designed to be compatible with a broad range of imaging modalities capable of delivering various medical instruments to a desired target. Its small footprint and high mobility features enable health care providers to efficiently treat a broad range of patient care needs in multiple areas of the body.

“We have actively participated in clinical research demonstrating the efficacy of XACT Robotic System leading to its approval by the FDA,” stated Dr. Sebastian Flacke, Chief of Interventional Radiology at Lahey Hospital & Medical Center. “Our input has helped to design technology that offers superior clinical outcomes and to help provide safe, cost-effective, and exceptional care to our community.”

“The XACT ACE System is poised to elevate percutaneous radiology standards by delivering enhanced clinical, technical and economic value for the healthcare providers and the patients they serve,” Harel Gadot, Executive Chairman, and President, XACT Robotics stated. “We are excited about the recent transaction with a leading institute such as Lahey Hospital and Medical Center, which allows both the medical center and its patients access to our technology and the multiple benefits it will bring them.”

Dr.
Sebastian Flacke has been a consultant and participated in sponsored research with XACT
Robotics
.

About XACT Robotics

XACT Robotics^®is advancing the field of radiology, pioneering the first hands-free robotic system combining image-based planning and navigation with instrument insertion and steering capabilities, to democratize percutaneous radiology procedures.

Founded in 2013, XACT Robotics is a privately held company with offices in Hingham, MA, USA and Caesarea, Israel. For further information, visit www.xactrobotics.com

Contacts

Media Contact:
Erich Sandoval
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59050aa6-d19e-4c3b-a8d6-37dc9150f3b7

November 12, 2020 8:03 am

Shipa Open Sources Ketch – the Cloud Native Application Deployment Engine for Scaling Kubernetes Without Kubernetes Expertise

Ketch enables developers to deploy cloud native applications to Kubernetes without a single YAML file, no Kubernetes expertise required; Shipa will work with the Continuous Delivery Foundation as the deployment engine’s roadmap evolves

SANTA CLARA, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) — Shipa, Corp., delivering a cloud native application management framework built to manage the full application lifecycle, today announced that it is open sourcing Ketch, Shipa’s deployment engine, under Apache License Version 2.0. This open source release follows the general availability launch of Shipa’s full application management framework in October. Shipa is funded by Engineering Capital and Jump Capital; advisors include Google’s Kelsey Hightower, Mastercard’s Ken Owens, and Lyft’s Matt Klein.

Developers and DevOps teams interested in learning more about Ketch can get started here. Shipa’s deployment engine has already been highlighted as ITOps Times’ Open Source Project of the Week, which noted that the application-centric deployment engine “bridges the gap between continuous integration tools and the production environment, significantly reducing the need for custom Kubernetes scripts, Helm charts and YAML files.”

Using Ketch, application developers can manage the entire deployment process at the application level. Developers can stay focused on writing code and do not need any Kubernetes expertise to successfully deploy applications running on Kubernetes. As a result, teams can accelerate the time needed to adopt Kubernetes, while simultaneously increasing their pipeline’s resilience and reducing the compounding risk with each new deployment.

“By open sourcing Ketch, the cloud native community can easily try and leverage this powerful cloud native application deployment engine,” said Bruno Andrade, Founder and CEO of Shipa. “Enterprises continue to struggle with the app deployment process on Kubernetes. Ketch is the perfect way to keep developers’ focus on code – not the infrastructure – as they scale with Kubernetes. Shipa’s vision is to manage the full application lifecycle, from code to post-deployment. With Ketch now available as a fully open source technology, there’s no faster and easier way for the community to get started.”

Ketch significantly reduces the number of Kubernetes objects that developers must learn and maintain in order to leverage Kubernetes best practices for managing applications. The deployment engine does this by generating all Kubernetes-related objects that are required to run applications on Kubernetes – automatically and directly from their application code. Ketch also enables developers to generate Helm charts directly from the application code, allowing them to fully customize ingress, services, security, resources and more before deployment. Developers can also use their existing container images, in which case Ketch creates and deploys all necessary objects for the application to run. Ketch offers connections into existing clusters (beginning with Kubernetes 1.14+) and dramatically improves the developer experience and application delivery speed by seamlessly fitting into developers’ existing stack.

“Shipa is committed to open standards, application deployment and management, and the communities that support them,” said Henrik Rosendahl, COO, Shipa. “The future of application deployment is open. That’s why we are taking our significant investment toward improving and simplifying application deployment and offering it to the open source community – and committing engineers to support it.”

Shipa is a Silver member of the Cloud Native Computing Foundation and a General member within the Continuous Delivery Foundation.

“Companies like CD Foundation member Shipa are a great example of important products and services that help expand the CI/CD ecosystem and contribute to the vibrant ecosystem for both customers and community members to get involved in,” said Tracy Miranda, Continuous Delivery Foundation Executive Director. “CI/CD continues to expand outward beyond the software development industry, and open sourcing is an excellent path to broadening adoption and providing transparency and accessibility.”

Additional Information and Resources

About Shipa

Shipa delivers a cloud native application management framework built for the full application lifecycle. Using Shipa, organizations speed up cloud native application development by eliminating persistent workflow inefficiencies. For developers, Shipa provides an application-centric way to develop, deploy, and manage cloud native applications without requiring Kubernetes expertise. For platform and DevOps engineers, Shipa’s lightweight framework eliminates the need to develop custom scripts or manage a lengthy migration – while still providing centralized control over configurations. Shipa is headquartered in Santa Clara, California.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bc460da3-f0f7-4cf8-b768-6a214e3dc397

Contact
Kyle Peterson
[email protected]

November 12, 2020 8:03 am

ManTech Acquires Minerva Engineering to Expand Full-spectrum Cyber Capabilities

HERNDON, Va., Nov. 12, 2020 (GLOBE NEWSWIRE) — ManTech International Corporation (Nasdaq: MANT) has completed the acquisition of Minerva Engineering, a leading provider of advanced cyber solutions. Headquartered in Hanover, Maryland, and founded in 1997, Minerva Engineering offers a range of advanced cyber services that support the intelligence community (IC), including risk and vulnerability assessment, incident response and cyber intrusion detection, and wireless signal discovery.

This acquisition enhances and expands ManTech’s cyber defense capabilities within the IC, adding new customers, new past performance qualifications as well as mission-critical contracts. Furthermore, Minerva Engineering’s highly skilled and cleared professionals increase ManTech’s deep cybersecurity talent base.

“ManTech has a well-established reputation as a leader of full-spectrum cyber capabilities. We are pleased to add Minerva Engineering’s talented people and significant customers into the ManTech family. The addition of Minerva Engineering is highly complementary and further builds upon our differentiated cyber offering, delivering more to our customers while positioning us for continued growth,” said Kevin M. Phillips, ManTech Chairman, CEO and President.

About ManTech

ManTech provides mission-focused technology solutions and services for U.S. defense, intelligence and federal civilian agencies. In business more than 50 years, we excel in full-spectrum cyber operations, data collection & analytics, enterprise IT, agile DevOps systems engineering and software application development solutions that support national and homeland security. Additional information about ManTech can be found at mantech.com.

Forward-Looking Information

Statements and assumptions made in this press release, which do not address historical facts, constitute “forward-looking” statements that ManTech believes to be within the definition in the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties, many of which are outside of our control. Words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” or “estimate,” or the negative of these terms or words of similar import, are intended to identify forward-looking statements.

These forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes we anticipate. Factors that could cause actual results to differ materially from the results we anticipate include, but are not limited to, the following: failure to maintain our relationship with the U.S. government, or compete effectively for contract awards; inability to recruit and retain sufficient number of employees with specialized skill sets or necessary security clearances who are in great demand and limited supply; adverse changes in U.S. government spending for programs we support,
whether due to changing mission priorities, socio-economic policies, cost reduction initiatives by our customers, or other federal budget constraints generally; disruption of our business or damage to our reputation resulting from security breaches in customer systems, internal systems (including as a result of cyber or other security threats), or employee misconduct; failure to realize the full amount of our backlog or adverse changes in the timing of receipt of revenues under contracts included in backlog; issues relating to competing effectively for awards procured through the competitive bidding process; failure to obtain option awards, task orders or funding under contracts; renegotiation, modification or termination of our contracts, or failure to perform in conformity with contract terms or our expectations; failure to successfully integrate acquired companies or businesses into our operations or to realize any accretive or synergistic effects from such acquisitions; non-compliance with, or adverse changes in, complex U.S. government laws, procurement regulations or processes; and adverse results of U.S. government audits or other investigations of our government contracts. These and other risk factors are more fully discussed in the section entitled “Risk Factors” in ManTech’s Annual Report on Form 10-K previously filed with the Securities and Exchange Commission on Feb. 2
1
, 20
20
, Item 1A of Part II of our Quarterly Reports on Form 10-Q, and, from time to time, in ManTech’s other filings with the Securities and Exchange Commission.

The forward-looking statements included herein are only made as of the date of this press release, and ManTech undertakes no obligation to publicly update any of the forward-looking statements made herein, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.

Media Contact:

Jim Crawford
Executive Director, External Communications
(M) 571.446.7550
[email protected]

Investor Relations Contact:

Stephen Vather
VP, M&A and Investor Relations
703.218.6093
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96b71004-78b3-4916-9dc2-f8b4fdb9bfd9

November 12, 2020 8:03 am

DIGITAL ALLY, INC ANNOUNCES THIRD QUARTER 2020 OPERATING RESULTS

Company reports 23% revenue increase and earnings per share of $.02 for the third quarter 2020

LENEXA, Kansas, Nov. 12, 2020 (GLOBE NEWSWIRE) — Digital Ally, Inc. (Nasdaq: DGLY), which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial applications, today announced its third quarter 2020 operating results. An investor conference call is scheduled for 11:15 p.m. EDT on Thursday, November 12, 2020 (see details below).

Highlights for the Third quarter Ended September 30, 2020

●	Total revenues increased 23% in the third quarter 2020 to $3,588,640 from $2,923,148 in the comparable 2019 period. Total revenues for the third quarter 2020 represent the highest quarterly revenue amount reported by the Company since the first quarter of 2017. The overall revenue increase is attributable to approximately $1.1 million of revenues generated by the Company’s new ThermoVU™ and Shield™ product lines during the third quarter 2020.

●	Our third quarter 2020 basic and diluted earnings per share was $0.02 representing a significant improvement from the net loss per share of ($0.26) reported in the comparable quarter in 2019. The improvement is primarily attributable to the 23% increase in total revenues, the 12% decrease in selling, general and administrative expenses and the $2,365,000 gain reported from the termination and extinguishment of the PIA obligation during the third quarter 2020 as compared to the similar period in 2019. Our earnings per share of $.02 represents for the third quarter 2020 represent our highest earnings per share amount reported by the Company since the first quarter of 2013.

●	The Company recently added two new lines of branded products: (1) the ThermoVu™ which is a line of self-contained temperature monitoring systems that provides alerts and controls facility access when an individual’s temperature exceeds a pre-set threshold and (2) our Shield™ disinfectants and cleansers which are for use against viruses and bacteria. We began offering such products beginning late in the second quarter 2020 and experienced strong demand during the third quarter resulting in total revenues for the quarter approximating $1.1 million. Shield™ disinfectants has been listed on the United States Environmental Protection Agency’s List N: Disinfectants for Use Against SARS-CoV-2, the virus that causes COVID-19. We expect continued revenue growth from these two new product lines in future quarters and are considering additional products to complement these new safety product lines. We are ramping up our supply chain for both of these new product lines, which are manufactured by third-parties. These branded products are being offered to our first responder customers including police, fire and paramedics. Commercial customers such as schools, cruise lines, taxi-cab and para transit are also be good candidates for the products, which the Company is actively pursuing.

●	The Covid-19 pandemic continued to delay the shipment of some orders in the third quarter 2020 as police forces and governments reacted to its impact. In general, our salesmen were unable to travel and meet with potential customers as they normally do to demonstrate our hardware, to promote our integrated solutions and close hardware sales. Specifically, we were unable to ship the initial purchase orders under a substantial contract awarded by the Director of Strategic Procurement of a country for the expected deployment of body cameras to its entire national police force. The contract was expected to include up to 5,000 body cameras with our web-based software infrastructure service over a three-year period. Contract deliveries were suspended pending the government’s decision to freeze the planned deployment until such time as the pandemic is contained within its population. The initial purchase order was expected to ship during the first quarter 2020 with follow-on orders for the second and third quarters of 2020 and would have made a substantial impact to our product revenues for the third quarter of 2020. At this point, we are unable to forecast if and when this major project will be restarted or how it may be modified as a result of the pandemic. Upon completion, the original contract would have been the largest body camera deployment in our history and the largest contract for recurring service revenues for our web-based software related to the body cameras.

●	The Company recorded a gain of $2,365,000 during the third quarter 2020 resulting from the termination and extinguishment of all obligations related to the Proceeds Investment Agreement (the “PIA”). On July 20, 2020, the Company and the holder of the PIA executed a Termination Agreement and Mutual Release (the “Termination Agreement”). Upon payment of $1,250,000 by the Company both parties agreed to terminate the PIA and to release each other from any further liability thereunder. In addition, the Company further agreed to pay the following: (a) a contingent payment in the amount of $2,750,000 following the closing of an asset purchase, membership interest purchase, or similar transaction between the Company and a specified third-party (the “Purchase Transaction”) and (b) any and all future proceeds received from Watchguard and its successors and assigns by the Company for WatchGuard’s use of U.S. Patent Nos. 8,781,292 and 9,253,452. For clarity, the parties further agreed that the payment of the contingent payment would only be due and payable upon the closing of the specified Purchase Transaction and would automatically terminate if the specified Purchase Transaction was abandoned prior to its closing. The Company abandoned the Purchase Transaction during the third quarter 2020 and therefore, the contingent payment obligation automatically terminated. The Company recorded a as the specified Purchase Transaction was abandoned prior to its closing. Furthermore, the Company does not anticipate any future recoveries from Watchguard and its successors and assigns relative to WatchGuard’s use of U.S. Patent Nos. 8,781,292 and 9,253,452.

●	On July 2, 2020 the SEC declared the Company’s shelf registration statement on Form S-3 effective. The Shelf Registration Statement will provide the Company with access to liquidity from the public markets should it decide to utilize it for such purposes. The Shelf Registration Statement allows the Company to offer and sell, from time to time in one or more offerings, any combination of our common stock, debt securities, debt securities convertible into Common Stock or other securities in any combination thereof, rights to purchase shares of Common Stock or other securities in any combination thereof, warrants to purchase shares of Common Stock or other securities in any combination thereof or units consisting of Common Stock or other securities in any combination thereof having an aggregate initial offering price not exceeding $125,000,000.

●	On August 21, 2020, the Company completed the purchase of a building which will serve as the company’s warehouse and distribution location for its new branded temperature screening device ThermoVU™ and its Shield™ line of disinfectant/cleanser products. The total purchase price was $420,000 and the Company used its available cash to close the building purchase.

●	We have asserted two significant patent infringement lawsuit involving Axon and WatchGuard that have had significant impacts on our quarterly results primarily due to the timing and amount of legal fees expended on such lawsuits. We settled the WatchGuard lawsuit in May 2019 for a total payment from WatchGuard of $6.0 million. In June 2019 the District Court granted Axon’s Motion for Summary Judgment, and accepted Axon’s position that it did not infringe on our patents and dismissed the lawsuit. We appealed the District Court’s ruling. On April 22, 2020, a three-judge panel of the United States Court of Appeals denied our appeal and affirmed the District Court’s previous decision to grant Axon summary judgment. On May 22, 2020, we filed a petition for panel rehearing requesting that we be granted a rehearing of our appeal of the U.S. District Court’s summary judgment ruling. Furthermore, we requested that we be given an opportunity to make our case through oral argument in front of the three-judge panel of the Court of Appeals, all of which was denied. The Company has abandoned its right to any further appeals and this matter is now concluded. Our litigation costs related to the Axon and other lawsuits has declined substantially in 2020 compared to 2019 and previous years. Furthermore, we believe our future quarterly results during the remainder of 2020 and beyond will continue to be positively impacted form the conclusion of these legal matters..

●	Our overall gross margin percentage declined to 34.1% in the third quarter 2020 compared to 40.7% in the 2019 period. The deterioration is attributable to the manufacturing inefficiencies and unfavorable overhead variances caused by the Covid-19 pandemic. We also continued to experience significant disruptions in the third quarter 2020 because we moved our office, manufacturing and warehouse facility to a newer and smaller location during June 2020.

●	Selling, general and administrative expenses were $3,066,606 and $3,468,709 for the third quarter 2020 and 2019, respectively, a decrease of $402,103 (12%). The significant decrease was the result of lower litigation costs due to the Company abandoning the Axon patent infringement lawsuit, sales and support staff headcount reductions due to the COVID-19 pandemic and we reduced overall travel in response to the impact of the Covid-19 pandemic during the third quarter 2020.

●	The COVID-19 pandemic represents a fluid situation that presents a wide range of potential impacts of varying durations for different global geographies, including locations where we have offices, employees, customers, vendors and other suppliers and business partners. Like most US-based businesses, the COVID-19 pandemic and efforts to mitigate the same began to have impacts on our business in March 2020. By that time, much of our first fiscal quarter was completed. During the quarter ended September 30, 2020, we have observed recent decreases in demand from certain customers, including primarily our law-enforcement and commercial customers. Given the fact that our products are sold through a variety of distribution channels, we expect our sales will experience more volatility as a result of the changing and less predictable operational needs of many customers as a result of the COVID-19 pandemic. We are aware that many companies, including many of our suppliers and customers, are reporting or predicting negative impacts from COVID-19 on future operating results. Although we observed significant declines in demand for our products from certain customers during the three months ended September 30, 2020, we believe that it remains too early for us to know the exact impact COVID-19 will have on the long-term demand for our products. We also cannot be certain how demand may shift over time as the impacts of the COVID-19 pandemic may go through several phases of varying severity and duration. To date, travel restrictions and border closures have not materially impacted our ability to obtain inventory or manufacture or deliver products or services to customers. However, if such restrictions become more severe, they could negatively impact those activities in a way that would harm our business over the long term. Travel restrictions impacting people can restrain our ability to assist our customers and distributors as well as impact our ability to develop new distribution channels, but at present we do not expect these restrictions on personal travel to be material to our business operations or financial results. We have taken steps to restrain and monitor our operating expenses and therefore we do not expect any such impacts to materially change the relationship between costs and revenues. Like most companies, we have taken a range of actions with respect to how we operate to assure we comply with government restrictions and guidelines as well as best practices to protect the health and well-being of our employees and our ability to continue operating our business effectively. To date, we have been able to operate our business effectively using these measures and to maintain all internal controls as documented and posted. We also have not experienced challenges in maintaining business continuity and do not expect to incur material expenditures to do so. However, the impacts of COVID-19 and efforts to mitigate the same have remained unpredictable and it remains possible that challenges may arise in the future.

Management Comments

Stanton E. Ross, Chief Executive Officer of Digital Ally, stated, “We are very pleased to report a 23% increase in total revenues for our third quarter and net earnings per share of $0.02. Furthermore, our third quarter 2020 total revenues of $3,588,640 represents our highest quarterly total for revenues since the first quarter of 2017 and our earnings per share represents our highest earnings per share since the first quarter of 2013. Our decision not to stand still during the Covid-19 pandemic and proactively expand our product offerings to include the ThermoVU and Shield lines has proven to be successful as they generated approximately $1.1 million in combined revenues during the third quarter 2020. We are considering further expansion of the ThermoVU and Shield product lines to include complementary products that we hope they will achieve similar market acceptance. We also reduced our SG&A expenses by reducing staffing levels, limiting travel and reducing many advertising and promotional activities. In addition, we moved to a new, smaller office and warehouse space in June 2020 that will dramatically reduce our occupancy costs for the balance of 2020 and beyond” concluded Ross.

Investor Conference Call

The Company will host an investor conference call at 11:15 p.m. EDT on Thursday, November 12, 2020, to discuss its operating results for the third quarter 2020, developments related to its disinfectant and safety products, the impact of the Covid-19 pandemic and other topics of interest. Shareholders and other interested parties may participate in the conference call by dialing 844-761-0863 and entering conference ID# 5148159 a few minutes before 11:15 p.m. EDT on Thursday November 12, 2020.

A replay of the conference call will be available two hours after its completion, from November 12, 2020 until 11:59 p.m. on January 12, 2021 by dialing 855-859-2056 and entering the conference ID # 5148159.

For additional news and information please visit or follow us on Twitter @digitalallyinc and Facebook www.facebook.com/DigitalAllyInc

Follow additional Digital Ally Inc. social media channels here:

Facebook
| Instagram | LinkedIn | Twitter

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to improve its revenue and operating results, especially in light of the adverse effects of the Covid-19 pandemic on our customers, suppliers and employees; whether it will be able to resolve its liquidity and operational issues and raise sufficient capital given the impact of the Covid-19 pandemic; whether it will be able to achieve improved production and other efficiencies to restore its gross and operating margins in the future; whether the Company will be able to continue to expand into non-law enforcement markets, including disinfectant/sanitizer and temperature screening products, and increase its service based revenue; whether the Company has resolved its product quality and supply chain issues; whether the EVO-HD will help the Company increase its product revenues; whether the Company will continue to experience declines in legal expenses as a result of concluding its patent litigation; whether and the extent to which the US Patent and Trademark Office (USPTO) rulings will curtail, eliminate or otherwise have an effect on the actions of competitors and others in the marketplace respecting the Company, its products and customers; its ability to deliver its newer product offerings as scheduled, and in particular the new EVO-HD product platform, obtain the required components and products on a timely basis, and have them perform as planned; its ability to maintain or expand its share of the markets in which it competes, including those outside the law enforcement industry; whether it will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “projects,” “should,” or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. It does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2020 and in its annual report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission (the “SEC”).

For Additional Information, Please Contact:

Stanton E. Ross, CEO, at (913) 814-7774 or

Thomas J. Heckman, CFO, at (913) 814-7774

(Financial Highlights Follow)

DIGITAL ALLY, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

SEPTEMBER 30, 2020 AND DECEMBER 31, 2019

	September 30, 2020 (Unaudited)			December 31, 2019
Assets
Current assets:
Cash and cash equivalents	$	8,130,331		$	359,685
Accounts receivable-trade, less allowance for doubtful accounts of $123,224 – 2020 and 2019		1,799,935			1,071,018
Accounts receivable-other		884,853			514,730
Inventories, net		5,993,627			5,280,412
Income tax refund receivable, current		—			44,650
Prepaid expenses and other current assets		2,295,945			381,090

Total current assets		19,104,691			7,651,585

Land, building and equipment, net		681,315			197,063
Intangible assets, net		379,351			413,268
Operating lease right of use assets, net		792,121			122,459
Other assets		893,180			532,500

Total assets	$	21,850,658		$	8,916,875

Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable	$	1,058,739		$	2,339,985
Accrued expenses		616,343			845,881
Operating lease obligations – Current		83,094			159,160
Contract liabilities – Current		1,702,587			1,707,943
Debt obligations – Current		791,521			1,827,748
Income taxes payable		1,158			5,934
Total current liabilities		4,253,442			6,886,651

Long-term liabilities:
Proceeds investment agreement obligation, at fair value – Long-term		—			6,500,000
Operating lease obligation – Long-term		754,031			44,460
Debt obligations – Long-term		777,379			—
Contract liabilities – Long-term		1,663,481			1,803,143

Total liabilities		7,448,333			15,234,254

Commitments and contingencies

Stockholders’ Equity (Deficit):
Common stock, $0.001 par value per share; 100,000,000 and 50,000,000 shares authorized, respectively; shares issued: 26,836,209 – September 30, 2020 and 12,079,095 – December 31, 2019		26,836			12,079
Additional paid in capital		106,225,896			83,216,387
Treasury stock, at cost (63,518 shares)		(2,157,226	)		(2,157,226	)
Accumulated deficit		(89,693,181	)		(87,388,619	)

Total stockholders’ equity (deficit)		14,402,325			(6,317,379	)

Total liabilities and stockholders’ equity (deficit)	$	21,850,658		$	8,916,875

(FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE COMPANY’S QUARTERLY REPORT ON FORM 10-Q FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 FILED WITH THE SEC)

DIGITAL ALLY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE AND NINE MONTHS ENDED

SEPTEMBER 30, 2020 AND 2019

(Unaudited)

	Three months ended September 30,						Nine months ended September 30,
	2020			2019			2020			2019

Revenue:
Product	$	2,958,579		$	2,173,257		$	5,778,695		$	6,039,445
Service and other		630,061			749,891			1,967,881			1,981,482

Total revenue		3,588,640			2,923,148			7,746,576			8,020,927

Cost of revenue:
Product		2,177,676			1,601,913			4,332,450			4,333,812
Service and other		188,316			132,973			533,690			366,301

Total cost of revenue		2,365,992			1,734,886			4,866,140			4,700,113

Gross profit		1,222,648			1,118,262			2,880,436			3,320,814
Selling, general and administrative expenses:
Research and development expense		405,083			517,010			1,250,528			1,562,086
Selling, advertising and promotional expense		789,854			877,218			1,958,884			2,871,154
General and administrative expense		1,871,668			2,074,481			5,585,500			7,686,537
Patent litigation settlement		—			—			—			(6,000,000	)

Total selling, general and administrative expenses		3,066,605			3,468,709			8,794,912			6,119,777

Operating loss		(1,843,957	)		(2,280,447	)		(5,914,476	)		(2,798,963	)

Other income (expense):
Interest income		11,339			6,667			33,208			30,279
Interest expense		(4,940	)		(37,037	)		(338,136	)		(37,037	)
Secured convertible notes issuance expense		—			(89,148	)		(34,906	)		(89,148	)
Change in fair value of proceeds investment agreement		2,365,000			(177,000	)		5,250,000			(3,275,000	)
Change in fair value of secured convertible notes		—			(408,860	)		(1,300,252	)		(408,860	)
Total other income (expense)		2,371,399			(705,378	)		3,609,914			(3,779,766	)

Income (loss) before income tax benefit		527,442			(2,985,825	)		(2,304,562	)		(6,578,729	)
Income tax benefit (expense)		—			—			—			—

Net income (loss)	$	527,442		$	(2,985,825	)	$	(2,304,562	)	$	(6,578,729	)

Net income (loss) per share information:
Basic	$	0.02		$	(0.26	)	$	(0.12	)	$	(0.58	)
Diluted	$	0.02		$	(0.26	)	$	(0.12	)	$	(0.58	)

Weighted average shares outstanding:
Basic		26,613,109			11,637,289			19,861,694			11,296,999
Diluted		26,627,941			11,637,289			19,861,694			11,296,999

(FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE COMPANY’S QUARTERLY REPORT ON FORM 10-Q FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 FILED WITH THE SEC)

November 12, 2020 8:03 am

Dymax MD® 1172-M-UR Medical Device Adhesive for Difficult-to-Bond COC/COP Substrates

Features Ultra-Red® Fluorescing for High-Speed Automated Quality Inspection

TORRINGTON, Conn., Nov. 12, 2020 (GLOBE NEWSWIRE) — Dymax Corporation introduces MD^® 1172-M-UR, an LED UV and broad-spectrum light-curable adhesive for bonding COC/COP film laminates and other difficult-to-bond-to plastics used in the assembly of in-vitro diagnostics (IVD), Lab-on-a-chip (LOC), and other point-of-care medical devices. The product may also be of interest to manufacturers involved with the design of COVID-19 rapid diagnostic applications.

The adhesive is moisture resistant, soft and flexible with a durometer of A70, and has a viscosity of 1,100 cP for improved wetting. 1172-M-UR is formulated with Dymax Ultra-Red^® fluorescing technology for simple visual post-cure quality inspection of the bond line area. After cure, when exposed to low-intensity black light (365 nm), the material fluoresces bright red, making it easy to see on plastics that naturally fluoresce blue in color, like PVC. This ISO 10993-5 Cytotoxicity approved product is ideally suited for rapid diagnostic applications, microfluidics, reservoir and transducer assembly, and medical potting applications.

The product is LED optimized to cure in seconds upon exposure to LED UV (365 nm) or broad-spectrum light energy. By using this product in conjunction with a Dymax LED light-curing system, optimal cure time can be achieved, providing users with significant advantages over conventional lamp-curing systems including cooler curing temperatures, more consistent cure results, and lower intensity degradation over time.

About Dymax Corporation

Dymax Corporation develops innovative oligomer, adhesive, coating, dispensing, and rapid light-cure systems for applications in a wide range of markets. The company’s products are perfectly matched to work seamlessly with each other, providing design engineers with tools to dramatically improve manufacturing efficiency and reduce costs. Major markets include aerospace and defense; medical device; consumer and automotive electronics.

For additional information on Dymax, visit www.dymax.com or contact us at 860-482-1010.

Contact:                
Beth Schivley
Global Director Marketing Communications
Dymax Corporation
[email protected]

November 12, 2020 8:03 am

Histogen Announces $4.5 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules

SAN DIEGO, Nov. 12, 2020 (GLOBE NEWSWIRE) — Histogen Inc. (Nasdaq: HSTO), a clinical-stage therapeutics company focused on developing potential first-in-class therapeutics that ignite the body’s natural process to repair and maintain healthy biological function, today announced that it has entered into definitive agreements with several institutional and accredited investors, for the purchase and sale of 2,522,784 shares of its common stock, at a purchase price of $1.78375 per share, in a registered direct offering priced at-the-market under Nasdaq rules. Histogen also agreed to issue to the investors, in a concurrent private placement, unregistered warrants to purchase up to an aggregate of 1,892,088 shares of its common stock. The closing of the offering is expected to occur on or about November 16, 2020, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The warrants have an exercise price of $ 1.70 per share, will be exercisable immediately upon issuance and will expire five and one-half years from the date of issuance.

The gross proceeds from this offering are expected to be approximately $4.5 million, before deducting placement agent’s fees and other offering expenses. Histogen intends to use the net proceeds from this offering for working capital and general corporate purposes, including expenses related to the clinical development of its products for its CCM, hECM and HSC programs, further research and development, capital expenditures and general and administrative expenses.

The shares of common stock (but not the warrants or the shares of common stock underlying the warrants) are being offered by Histogen pursuant to a “shelf” registration statement on Form S-3 (File No. 333-248074) previously filed with the Securities and Exchange Commission (the “SEC”) on August 17, 2020 and declared effective by the SEC on August 26, 2020. The offering of the shares of common stock will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at [email protected].

The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Histogen

Histogen Inc. is a clinical-stage therapeutics company focused on developing potential first-in-class restorative therapeutics that ignite the body’s natural process to repair and maintain healthy biological function. Histogen’s innovative technology platform utilizes cell conditioned media and extracellular matrix materials produced by hypoxia-induced multipotent cells. Histogen’s proprietary, reproducible manufacturing process provides targeted solutions across a broad range of therapeutic indications including hair growth, dermal rejuvenation, joint cartilage regeneration and spinal disk repair. For more information, please visit www.histogen.com.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, we are using forward-looking statements when we discuss our ability to satisfy the closing conditions of the offering and the timing of the closing, the use of proceeds, our future operations and our ability to successfully initiate and complete clinical trials, obtain clinical trial data, and achieve regulatory milestones and related timing, including those related to the submission of a HST-003 IND for regeneration of cartilage in the knee, any initiation of a HST-002 Phase 1 trial for the treatment of moderate to severe nasolabial folds and the reporting of topline data for the ongoing HST-001 Phase 1a/2b trial for androgenic alopecia in men and the planned Phase 1 study of emricasan for the treatment of COVID-19; the nature, strategy and focus of our business; the sufficiency of our cash resources and ability to achieve value for our stockholders; and the development and commercial potential and potential benefits of any of our product candidates, such as HST-001, HST-002 and HST-003. We may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of ours that could differ materially from those described in or implied by the statements in this press release, including: market and other conditions, the uncertainties associated with the clinical development and regulatory approval of our product candidates, including potential delays in the commencement, enrollment and completion of clinical trials; the potential that earlier clinical trials and studies of our product candidates may not be predictive of future results; risks related to business interruptions, including the outbreak of COVID-19 coronavirus, which could seriously harm our financial condition and increase its costs and expenses; and the requirement for additional capital to continue to advance these product candidates, which may not be available on favorable terms or at all. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including those risks discussed in our filings with the Securities and Exchange Commission. Except as otherwise required by law, we disclaim any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events, or circumstances or otherwise.

Contact:

Susan A. Knudson
Executive Vice President & CFO
Histogen Inc.
[email protected]

November 12, 2020 8:03 am

Westwater Resources Announces Third Quarter 2020 Results and Business Update

Westwater Resources Announces Third Quarter 2020 Results and Business Update

Company Will Update Investors on Its Coosa Graphite Project and Ongoing Construction of Pilot Plant in Germany

CENTENNIAL, Colo.–(BUSINESS WIRE)–Westwater Resources (NASDAQ: WWR), an energy materials development company, today announced its results for the third quarter ended September 30, 2020 and provided an update on its materials development business.

Founded four decades ago and originally incorporated to mine uranium, Westwater Resources has been reinvented as a 21^st century energy materials development company focused on the production of battery-grade graphite. The Company’s Coosa Graphite Project is the most advanced graphite project in the United States and, when developed, will produce high purity battery-grade graphite, a material that is essential for the components of high-technology energy applications such as electric automobiles.

Westwater recently announced delivery of 30 metric tonnes of natural flake graphite concentrate at pilot plant contractor Dorfner Anzaplan’s facility in Hirschau, Germany. This material is being utilized in the Company’s pilot plant facilities presently under construction in Germany, upstate New York and Illinois. Operation of the pilot plants is expected to commence this month and continue through March 2021.

Westwater continues to develop a proprietary process for the production of non-Chinese battery-grade graphite. The Company has filed a provisional patent application with the U.S. Patent and Trademark Office for its proprietary graphite purification technology, which produces battery-grade graphite with a more sustainable environmental footprint than that produced in China. Independent performance testing of Westwater’s ULTRA-CSPG™ (Coated Spherical Purified Graphite or “CSPG”) material produced in a laboratory setting shows that it performs as well or better than benchmark commercially available natural flake and synthetic materials. Independent performance testing of Westwater’s ULTRA-PMG™ (Purified Micronized Graphite or “PMG”) material has also shown outstanding resistivity values as a conductivity enhancer.

During the third quarter, Westwater added to its management team by appointing Jay Wago as Vice President of Sales and Marketing. Mr. Wago has years of solid experience in the battery materials business, and he has been tasked with bolstering the Company’s marketing strategy to create greater awareness of Westwater’s American-made graphite battery material to end-users worldwide. The Westwater marketing team, under Mr. Wago’s direction, is working to place battery-grade graphite products produced during the pilot plant program in the hands of potential customers.

On September 8, 2020, Westwater entered into a Letter of Intent to sell its U.S. uranium business to enCore Energy Corp. of Vancouver, BC, a Toronto Venture Exchange-listed company (TSX.V:EU). Westwater will receive approximately $2 million in shares of enCore stock and will retain royalty interests on its former New Mexico properties. This sale is expected to eliminate approximately $4 million in annual expenditures by the Company and nearly $7.8 million in liabilities based on September 30, 2020 book values. The transaction is expected to close on or before December 31, 2020. Westwater will retain its interests in its uranium business that is the subject of an international arbitration with the Republic of Turkey.

On September 30, 2020, the U.S. President issued an executive order addressing the threat to the United States domestic supply chain of reliance on critical minerals from foreign adversaries and declaring such reliance a national emergency. The critical minerals referred to in the executive order were previously identified by the Department of Interior in May 2018, and include both natural graphite and vanadium. The executive order highlights the importance of Westwater’s plans to develop the Coosa Graphite Deposit in east-central Alabama, where the Company has also discovered widespread and significant levels of vanadium mineralization. In 2021, Westwater expects to commence further exploration for vanadium at the Coosa Graphite Project.

“Our management team possesses a unique combination of battery materials knowledge and extensive project-execution experience alongside manufacturing and processing expertise. This expertise spans everything from graphite to precious metals to energy materials,” said Chris Jones, CEO of Westwater Resources. “Coupled with decades of capital markets experience, we have what we need to build a powerful presence in the new energy marketplace. In the third quarter of 2020 we reached a number of significant milestones, and I believe these milestones position our Company for growth throughout 2021. We continue to execute our business plan without pause.”

FINANCIAL SUMMARY

Table 1: Financial Summary

(000’s, Except Per Share)	3Q 2020	3Q 2019	3Q Variance	9-Mos 2020	9-Mos 2019		9-Mos Variance
Net Cash Used in Consolidated Operations	$ (4,069)	$ (2,868)	42%	$ (10,134)	$ (7,192)	41%
Product Development Expenses	$ (1,641)	$ (19)	n/m	$ (1,942)	$ (51)	n/m
General and Administrative	$ (1,536)	$ (1,003)	53%	$ (4,106)	$ (3,583)	15%
Net Loss from Continuing Operations	$ (3,362)	$ (1,170)	187%	$ (6,932)	$ (4,731)	47%
Net Loss from Discontinued Operations	$ (6,389)	$ (664)	862%	$ (8,573)	$ (3,052)	181%
Net Loss	$ (9,751)	$ (1,834)	432%	$ (15,505)	$ (7,783)	99%
Net Loss Per Share	$ (1.23)	$ (0.95)	29%	$ (2.63)	$ (4.66)	-43%
Weighted Avg. Shares Outstanding	7,905	1,931	309%	5,906	1,649	258%

Net Cash Used in Consolidated Operations. Net cash used in all operating activities was $10.1 million for the nine months ended September 30, 2020, as compared with $7.2 million for the same period in 2019. The $2.9 million increase in cash used in operating activities was primarily due to increased graphite product development expenses, general and administrative expenses and arbitration costs in 2020 compared to 2019. The increase of $1.2 million in cash used during the three-months ended September 30, 2020 compared to the prior year three-month period was primarily due to expenditures for graphite product development activities.
Product Development Expenses. For the three and nine months ended September 30, 2020, product development expenses from continuing operations increased by $1.6 million and $1.9 million, respectively, from the corresponding periods in 2019. Management’s decision to discontinue uranium and lithium operations in the third quarter of 2020 in favor of expanding the Company’s graphite business has allowed for the investment of an additional $1.6 million during the quarter for product development costs, including pilot plant planning and graphite product testing as part of its Coosa Graphite Project.
General and Administrative Expenses. General and administrative expenses from continuing operations for the three-and-nine-months ended September 30, 2020 increased by $0.5 million from their respective periods in 2019. The increase was due primarily to a reversal of executive bonuses of approximately $0.4 million which lowered costs in 2019.
Net Loss from Continuing Operations. Represents operating activities related primarily to the Company’s graphite business, corporate general and administrative costs and arbitration costs related to the Company’s damages claim against the Republic of Turkey. The increase in net loss of $2.2 million for both the three-and-nine-month periods ended September 30, 2020 compared to the respective prior year periods in 2019 was primarily due to increased graphite product development costs for product testing and pilot plant planning, and increased arbitration costs.
Net Loss from Discontinued Operations. The uranium and lithium businesses have been combined and reported as discontinued operations due to the decision to sell the uranium business and discontinue investment in the lithium business, both actions undertaken in the third quarter of 2020 to orient additional resources to the graphite business. Net loss from discontinued operations was $6.4 million and $8.6 million for the three-and-nine-month periods ended September 30, 2020, respectively. The $5.7 million and $5.5 million increases from the respective prior periods in 2019 were largely due to a $5.2 million impairment charge recorded against uranium property, plant and equipment in the third quarter of 2020 as a result of the terms of sale of the uranium assets and liabilities to enCore Energy Corp.
Cash and Working Capital from Continuing Operations. At September 30, 2020 the Company’s cash balances were $5.5 million and working capital from continuing operations was $2.9 million. The Company’s cash balance at October 31, 2020 was $53.3 million. Management believes the significant treasury balance has mitigated the Company’s capital risk through 2021 as the Company’s 2021 non-discretionary budget, budgeted graphite pilot plant program and the remaining budgeted product development initiatives are now fully funded. The Company is pursuing project financing to support primary funding of the capital expenditures for construction of the commercial plant set to occur in the second half of 2021.
Shares Outstanding. Total shares outstanding are 19,021,859 at November 12, 2020.

Conference Call & Webcast Information

The conference call will be held on Thursday, November 12, 2020 at 11:00 am Eastern time (9:00 am Mountain Time).

DIAL-IN NUMBERS

1-800-319-4610 (US and Canada)

1-604-638-5340 (International)

Conference ID: Westwater Resources Conference Call

Hosting the call will be Christopher M. Jones, President and Chief Executive Officer of Westwater Resources, who will be joined by Jeffrey L. Vigil, Vice President-Finance and Chief Financial Officer, and Dain McCoig, Vice President of Operations. Mr. Jones will present an overview of the Company’s business, including progress on the sale of its uranium business, and an update on the Coosa Graphite Project, including the status of the construction of the pilot plant and the federal government’s recent ruling on graphite. Mr. Vigil will review the financial results and the financial condition of the Company and Mr. McCoig will be available for questions as part of the call.

The conference call and presentation will also be available via a live webcast through the Company’s website, www.WestwaterResources.net. A replay of the call will be available on the Company’s website for a limited time and by phone using the details below:

REPLAY NUMBERS

1-855-669-9658 (U.S. and Canada)

1-412-317-0088 (International)

Replay Access Code 5521

About Westwater Resources

Westwater Resources (NASDAQ: WWR) is focused on developing energy-related materials. The Company’s battery-materials projects include the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. Commencement of pilot plant operations is scheduled for the fourth quarter of 2020, producing ULTRA-PMG^TM, ULTRA-DEXDG^TM and ULTRA-CSPG^TM in quantities that facilitate qualification testing by potential customers. For more information, please visit www.westwaterresources.net.

Cautionary Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. All statements addressing events or developments that WWR expects or anticipates will occur in the future, including but not limited to the closing of the transaction with enCore Energy Corp., the commencement of operations at the Company’s proposed pilot plant facilities, future production of battery graphite products, and activities involving the Coosa Graphite Project and the Coosa Graphite Deposit. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, (a) the Company’s ability to successfully construct and operate a pilot plant capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan, including the impact of COVID-19 and its potential impacts to the capital markets; (e) operating conditions at the Company’s projects; (f) government and tribal regulation of the graphite industry and the vanadium industry; (g) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (h) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama; (i) the ability of the Company to enter into and successfully close acquisitions or other material transactions, including the proposed transaction to sell uranium assets in Texas and New Mexico to enCore Energy; (j) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (k) currently pending or new litigation or arbitration; and (l) other factors which are more fully described in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112005253/en/

Westwater Resources

Christopher M. Jones, President & CEO

Phone: 303.531.0480

Jeffrey L. Vigil, Vice President Finance & CFO

Phone: 303.531.0481

Email: [email protected]

Product Sales Contact:

Jay Wago, Vice President – Sales and Marketing

Phone: 303.531.0472

Email: [email protected]

Investor Relations

Porter, LeVay & Rose

Michael Porter

Phone: 212.564.4700

Email: [email protected]

KEYWORDS: Australia/Oceania United States Canada North America Australia Europe Germany Nevada Colorado Idaho New Mexico

INDUSTRY KEYWORDS: Communications Other Energy Mining/Minerals Energy Natural Resources Public Relations/Investor Relations

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