Market Newsdesk

WINNIPEG, Manitoba, Nov. 11, 2020 (GLOBE NEWSWIRE) — DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: VRNDF) (“Delta 9” or the “Company”), is pleased to announce financial and operating results for the three-month and nine-month period ending September 30, 2020.

Financial Highlights for
the three-month and nine-month period ending September 30
, 20
20

• Net revenue of $13.1 million for the third quarter of 2020, an increase of 97%, from $6.7 million for the same quarter last year.
  • Net revenue of $37.9 million for the first nine months of 2020, an increase of 79%, from $21.2 million for the same period last year.
• Gross profit of $3.96 million for the third quarter of 2020, an increase of 95%, from $2.03 million for the same quarter last year.
  • Gross profit of $13.5 million for the first nine months of 2020, an increase of 98%, from $6.8 million for the same period last year.
• Net income (loss) from operations and Adjusted EBITDA (loss) was $(5.5) million and $(0.5) million respectively for the third quarter of 2020, largely a result of an unrealized loss on the fair value of biological assets in inventory, a non-cash item.
  • Net income (loss) from operations and Adjusted EBITDA for the first nine months of 2020 was a loss of $(0.4) million and gain of $1.9 million respectively.
• The Company reported a strong financial position, with $7.2 million in cash, $25.6 million in working capital and total assets of $77.5 million.

Adjusted EBITDA is a non-IFRS measure, and is calculated as earnings before interest, tax, depreciation and amortization, share-based compensation expense, fair value changes and other non-cash items.

“Management believes that, given the relative novelty and uncertainty of the global cannabis industry, the Company’s diversified revenue and vertical integration approaches will allow it to better react to market challenges than its competitors with single business strategies,” said John Arbuthnot, CEO. “Management is confident that its renewed focus on revenue growth, gross profitability, and prudent cost controls will return the Company to profitability over the coming quarters.”

3

^nd

Quarter
and Subsequent
Operational Highlights

• November 9, 2020, Delta 9 closed a transaction with Auxly Cannabis Group Inc. and Kolab Project Inc. to acquire a retail cannabis store in Lloydminster, Saskatchewan. The purchase price of $875,000 was satisfied through the issuance of 1,282,270 common shares of the Company (“Common Shares”) at a deemed price per Common Share of $0.5849 ($750,000) and $125,000 in cash, less customary adjustments. Delta 9’s strategy of vertical integration is further strengthened with the move into Saskatchewan, and unites Delta 9’s Western Canada retail strategy by joining its existing Manitoba and Alberta retail presence, and expands its base for future expansion opportunities.
• October 20, 2020, Delta 9 announced that the Toronto Stock Exchange (“TSX”) approved the Company’s normal course issuer bid (the “NCIB”). Under the NCIB, the Company can purchase: (i) up to an aggregate of 2,802,503 Common Shares, representing 5% of the public float of Common Shares as at October 20 2020; and (ii) up to an aggregate of $1,180,000 principal amount of 8.5% unsecured convertible debentures of the Company (“Debentures”), representing 10% of the public float of Debentures as at October 20, 2020.
• September 9, 2020, Delta 9 opened it 5th retail store in Manitoba. At 4,000 square feet, the newest Delta 9 Cannabis Store is located in one of Southwest Winnipeg’s premier shopping destinations with high traffic anchors including Dollarama, Walmart, Home Depot, Safeway, Home Sense and Tim Hortons. The traffic corridor in Southwest Winnipeg sees approximately over 50,000 vehicles every day. The new store is the largest cannabis retail store in the area, offering customers an open and modern shopping décor, highly trained staff and a wide range of products, including dried cannabis flower, cannabis oil, edibles, drinkables, vape pens, concentrates and a full assortment of cannabis accessories. Delta 9 now has five retail stores in Manitoba and eight in total across Canada.

“Our three-prong growth strategy for revenue going forward will focus on expanding our retail store network and continue to market our price leadership strategy at new and existing stores,” said John Arbuthnot, CEO of Delta 9. “We will continue to build momentum in the cannabis wholesale segment with a focus on expanding product distribution in Delta 9’s six provincial markets and continue to expand B2B business with a focus on creating relationships in the Canadian micro cultivation industry and expansion into emerging markets.”

Summary of Quarterly Results:

Consolidated Statement of Net Income (Loss)	Q4 2019	Q1 2020	Q2 2020	Q3 2020
Revenue	$ 10,585,484	$ 11,753,406	$ 13,013,610	$ 13,130,320
Cost of Sales	7,356,889	6,858,370	8,394,239	9,168,026
Gross Profit Before Unrealized Gain From Changes In Biological Assets	3,228,595	4,895,036	4,619,371	3,962,294
Unrealized gain from changes in fair value of biological assets (Net)	1,991,398	2,761,873	2,460,490	(2,338,699)
Gross Profit	$ 5,219,993	$ 7,656,909	$ 7,079,861	$ 1,623,595
Expenses
General and Administrative	3,118,669	3,198,840	3,676,326	4,047,063
Sales and Marketing	1,385,700	1,243,115	1,534,875	1,753,461
Share Based Compensation	234,503	314,231	174,779	776,705
Total Operating Expenses	$ 4,738,872	$ 4,756,186	$ 5,385,980	$ 6,577,229
Adjusted EBITDA (Loss) 1	(91,760)	1,650,398	706,469	(474,039)
Income (Loss) from Operations	$ 481,121	$ 2,900,723	$ 1,693,881	$ (4,953,634 )
Other Income/ Expenses	(696,667)	(711,538)	(262,364)	(595,547)
Net Income (Loss)	$ (215,556 )	$ 2,189,185	$ 1,431,517	$ (5,549,181 )
Basic and Diluted Earnings (Loss) Per Share	$ (0.01 )	$ 0.02	$ 0.01	$ (0.07 )

1. Adjusted EBITDA is a non-IFRS measure, and is calculated as earnings before interest, tax, depreciation and amortization, share-based compensation expense, fair value changes and other non-cash items.

A comprehensive discussion of Delta 9’s financial position and results of operations is provided in the Company’s Management Discussion & Analysis for the three-month and nine-month period ending September 30, 2020 filed on SEDAR on November 11, 2020 and can be found at www.sedar.com.

2020 Third Quarter Results Conference Call

A conference call to discuss the above results is scheduled for November 12, 2020, pre-market. The conference call will be hosted that day at 9:00 a.m. Eastern Time by John Arbuthnot, Chief Executive Officer, and Jim Lawson, Chief Financial Officer, followed by a question and answer period.

DATE:	November 12, 2020
TIME:	9:00 am Eastern Time
Dial in #	1-888-886-7786
REPLAY:	1-877-674-6060 Available until 12:00 midnight Eastern Time, February 12, 2020
Replay passcode:	617905 #

For more information contact:

Investor & Media Contact:
Ian Chadsey VP Corporate Affairs
Mobile: 204-898-7722
E-mail: [email protected]

About Delta 9 Cannabis Inc.

Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9’s shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTCQX under the symbol “VRNDF”. For more information, please visit www.delta9.ca.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to: (i) management’s expectations with respect to the Company’s financial results; and (ii) the Company’s future expansion plans. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including all risk factors set forth in the annual information form of Delta 9
dated March 19, 2020 which has been filed on SEDAR. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

BRENTWOOD, Tenn, Nov. 11, 2020 (GLOBE NEWSWIRE) — IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or “the Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, today announces the acquisition of Lockwood Chiropractic in Webster Groves, Mo.

With historical six-figure revenue as a chiropractic clinic and a presence in the community since 1990, the purchase of Lockwood Chiropractic’s assets represents an expansion of the Ozzie Smith Center brand within an established community near downtown St. Louis. The owner of the clinic, Sharon Whalen, D.C., will join IMAC’s team and continue to run the clinic in Webster Groves.

“The addition of the Lockwood clinic provides us with better access to St. Louis patients and is a turn-key opportunity, as the existing infrastructure and existing staff will deliver an immediate and seamless transition. Concurrently, our existing Ozzie Smith Center in St. Louis may help us to grow the Lockwood center and provide our services to an even wider patient base outside that city,” said Matthew Wallis, chief operations officer of IMAC. “The Lockwood acquisition is an excellent model for our expansion strategy to partner with successful clinic owners with a loyal clientele. We believe that this is an excellent example of managing cash outlay while expanding our patient base.”

The transition is scheduled to occur on Monday, November 16, 2020. Prospective patients may call 855-OZZIE01 to learn more about IMAC services.

About IMAC Holdings, Inc.

IMAC Holdings was created in March 2015 to expand on the footprint of the original IMAC Regeneration Center, which opened in Kentucky in August 2000. IMAC Regeneration Centers combine life science advancements with traditional medical care for movement restricting diseases and conditions. IMAC owns or manages 15 outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. It has partnered with several active and former professional athletes, opening six Ozzie Smith IMAC Regeneration Centers, two David Price IMAC Regeneration Centers, as well as Mike Ditka IMAC Regeneration Centers and a Tony Delk IMAC Regeneration Center. IMAC’s outpatient medical clinics emphasize its focus around treating sports and orthopedic injuries and movement-restricting diseases without surgery or opioids. More information about IMAC Holdings, Inc. is available at www.imacregeneration.com.

# # #

Safe Harbor Statement

This press release contains forward-looking statements. These forward-looking statements, and terms such as “anticipate,” “expect,” “believe,” “may,” “will,” “should” or other comparable terms, are based largely on IMAC’s expectations and are subject to a number of risks and uncertainties, certain of which are beyond IMAC’s control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the skills and experience necessary to meet customers’ requirements, and its ability to protect its intellectual property. IMAC encourages you to review other factors that may affect its future results in its registration statement and in its other filings with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur.

IMAC Press Contact:
Laura Fristoe
[email protected]

Investor Relations:
Bret Shapiro
(516) 222-2560
[email protected]

LONGUEUIL, Quebec, Nov. 11, 2020 (GLOBE NEWSWIRE) — D-BOX Technologies Inc. (TSX: DBO), a world leader in haptic and immersive entertainment experiences, announced today its financial results for the second quarter ended September 30, 2020. All amounts in this press release are in Canadian dollars.

FINANCIAL HIGHLIGHTS

Highlights for the Second Quarter Ended September 30, 2020

• Cash and cash equivalents was $5.0 million as at September 30, 2020 compared to $4.1 million as at March 31, 2020, while during the same period, cash flow provided by working capital has generated $2.6 million, the line of credit balance decreased by $1.0 million and long-term debt increased by $2.0 million.
   
• Total revenues decreased to $2.9 million from $6.3 million for the same period last year as a result of the adverse impact of the COVID-19 pandemic.
   
• Net loss remained flat at $0.9 million compared to the same period last year.
   
• Adjusted EBITDA* decreased to ($0.6) million from $0.1 million for the same period last year.             

Highlights for the six-month period ended September 30, 2020

• Total revenues decreased to $5.1 million from $13.9 million for the same period last year as a result of the adverse impact of the COVID-19 pandemic.
   
• Net loss increased to $1.9 million from $1.5 million for the same period last year.
   
• Adjusted EBITDA* decreased to ($0.7) million from $0.3 million for the same period last year.

This quarter’s results continued to be impacted by the COVID-19 global pandemic, but the Corporation made progress on generating royalties as some movie theatres have resumed its activities. While we do not know the future impact COVID-19 will have on our business, or when our business will fully return to normal operations, the Corporation expects to see a continued impact from COVID-19 on its results in the upcoming quarters, especially in the commercial entertainment business where some commercial entertainment venues are forced to close temporarily.

Second quarter and Six-month period ended September 30 (in thousands of dollars, except per share amounts)
	Second Quarter				Six-month Period
	2020		2019		2020		2019
Revenues	2,917		6,329		5,146		13,862
Net loss	(954	)	(933	)	(1,920	)	(1,539	)
Adjusted EBITDA*	(571	)	114		(667	)	329
Basic and diluted net loss per share	(0.005	)	(0.005	)	(0.010	)	(0.008	)
Information from the consolidated balance sheet
	As at September 30, 2020				As at March 31, 2020
Cash and cash equivalents	4,979				4,116

* See the “Non-IFRS” measures” section in the Management’s Discussion and Analysis dated November 11, 2020.

“We are pleased with the progress that D-BOX has accomplished on multiple fronts in the past few months. Ensuring a healthy balance sheet has always been a top priority and we are proud that we have been able to manage our spending and get some additional financing to maintain a cash position that is greater than at the beginning of the COVID-19 pandemic. With the expectation of a progressive recovery of our recurring revenue from the theatrical market in the next months and the future contribution of home entertainment revenue, we are cautiously optimistic that the brunt of the situation is at a tail end,” mentioned Mr. Sébastien Mailhot, President and CEO of D-BOX.

“This quarter, recovery on our business has been encouraging with total revenues growing at 31% sequentially between Q2 over Q1. The simulation and training segments grew 44% sequentially and 17% compared to the same period last year in large part due to the increasing penetration of simracing at home and great value proposition of our simulation and training offering. With the recent endorsement of the FIA, we do expect to see continued sequential growth,” stated Mr. Mailhot.

 “Our long-awaited immersive and haptic home entertainment system is now ready! We are proud to launch a home entertainment recliner, in partnership with Jaymar, that will integrate D-BOX’s haptic technology. It is an important milestone given the size of the market opportunity; U.S. consumers spent over $25 billion in 2019, up 8.4% from the year before, in home entertainment streaming services, video-on-demand and electronic title purchases. By leveraging D-BOX’s strong brand and market leadership in haptics, D-BOX has a unique opportunity to enhance the experience of consumers by providing a true-to-life experience from their home. Consumers will be able to enjoy over 2,000 pieces of content and growing, including movies, TV series, music, video games, and a relaxation mode. Over time, D-BOX will add new content types of all sorts and will constantly update the existing content. The movements, vibrations and textures will make entertainment lovers feel their favorite theme park ride, the beats of a live concert or experience floating on the moon.  The possibilities are endless!” added Mr. Mailhot. 

In other news, the Corporation is pleased to announce the appointment this day of Eve Laurier to the Corporation’s Board of Directors. Mrs. Laurier brings more than 20 years of experience in communication and marketing strategy. Currently, she is General Manager of Edelman Montreal’s communications firm and is also a member of Edelman Canada’s management team, a global public relations firm. Prior to joining Edelman, Mrs. Laurier worked for Richter, an accounting and financial consulting firm, where she held the position of Vice-President, Strategic Relations. In 2020, she earned the ‘Revelation’ of the Quebec Association of Women in Finance, as well as a finalist at the Mercuriades for the Women of Exception Award. Mrs. Laurier holds an Executive MBA from McGill University and HEC Montréal. As well, she sits on the board of the Marie-Vincent Foundation (2017) and the Metropolitan Orchestra (2017). “We welcome Mrs. Laurier to D-BOX’s board. Her appointment comes with perfect timing, just as we are about to launch our home entertainment strategy. Her
strong credentials in communications and marketing and her vast business network will be a great asset as we maximize D-BOX awareness”, stated Mr. Denis Chamberland.

OPERATIONAL HIGHLIGHTS

• D-BOX and Jaymar, a leading manufacturer of upholstered furniture in Canada, partnered to offer consumers a recliner which integrates D-BOX haptic technology, providing fans of series, movies and video games with immersive and haptic experiences.
   
• Part of its gaming strategy, D-BOX has been locking a lineup of video game franchises such as Ubisoft latest Assassin’s Creed Valhalla, Microsoft’s Flight Simulator, and Slightly Mad Studios’ Project CARS 3.
   
• The Fédération Internationale de l’Automobile (FIA), the governing body of motor sport and mobility, announced the exclusive endorsement of D-BOX products.  The D-BOX haptic system enables drivers to feel an incredibly powerful and reliable simulator that responds precisely to any in-game situation. The experience features subtle cues based on pavement variations, vehicle physics, acceleration, deceleration, braking, cornering, suspension feedback, traction, weather conditions and speed.

ADDITIONAL INFORMATION

The financial information relating to the second quarter ended September 30, 2020 should be read in conjunction with the Corporation’s unaudited condensed consolidated financial statements and the Management’s Discussion and Analysis dated November 11, 2020. These documents are available at www.sedar.com.

RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME (LOSS)*

Adjusted EBITDA provides useful and complementary information, which can be used, in particular, to assess profitability and cash flows from operations. It consists of net income (loss) excluding amortization, financial expenses net of income, income taxes, impairment charges, share-based payments, foreign exchange loss (gain) and non-recurring expenses related to restructuring costs. The following table reconciles adjusted EBITDA to net loss:

All amounts are in thousands of Canadian dollars

	Second quarter ended September 30				Six-month Period ended September 30
	2020		2019		2020		2019
Net loss	(954	)	(933	)	(1,920	)	(1,539	)
Amortization of property and equipment	401		439		876		856
Amortization of intangible assets	189		204		380		462
Amortization of other assets	—		1		—		2
Loss on disposal of property and equipment	—		2		—		2
Financial expenses (income)	98		280		191		373
Income taxes (recovery)	(1	)	6		(1	)	(1	)
Share-based payments	31		16		77		61
Foreign exchange loss(gain)	(335	)	99		(270	)	113
Adjusted EBITDA	(571	)	114		(667	)	329

* See the “Non-IFRS measures” section in the Management’s Discussion and Analysis dated November 11, 2020.

ABOUT D-BOX

D-BOX redefines and creates realistic, haptic and immersive entertainment experiences by providing feedback to the whole body and sparking the imagination through motion. Haptic essentially allows to feel sensations that would be felt if the body was interacting directly with physical objects. D-BOX has collaborated with some of the best companies in the world to deliver new ways to enhance great stories. Whether it’s movies, video games, virtual reality applications, themed entertainment or professional simulation, D-BOX creates a feeling of presence that makes life resonate like never before.

D-BOX Technologies Inc. (TSX: DBO) is headquartered in Montreal with offices in Los Angeles, USA and Beijing, China. Visit d-box.com

DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS

This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, activities, objectives, operations, strategy, financial performance and condition of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control.

These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s Annual Information Form for the fiscal year ended March 31, 2020, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements.  The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

FOR FURTHER INFORMATION,
PLEASE CONTACT:

David Montpetit Chief Financial Officer D-BOX Technologies Inc. 450 442-3003, ext. 296 [email protected]

Steve Li Vice President Investor Relations and Corporate Strategy D-BOX Technologies Inc. 450 442-3003, ext. 403 sli@d-box.com

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Credit Acceptance Corporation (NASDAQ: CACC), Precigen, Inc. f/k/a Intrexon Corporation (NASDAQ: PGEN; XON), Royal Caribbean Group (NYSE: RCL), and Mesoblast Limited (NASDAQ: MESO). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link

Credit Acceptance Corporation (NASDAQ: CACC)

Class Period: November 1, 2019 to August 28, 2020

Lead Plaintiff Deadline: December 1, 2020

Credit Acceptance provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. These programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing, as 95% of Credit Acceptance’s loans are considered subprime. The Company’s tag line is “We change lives!” and the Company asserts its financing programs give consumers “a second chance” in improving their credit scores.

The ugly truth about the Company’s predatory and illegal business practices was revealed on August 28, 2020 when the Massachusetts Attorney General filed the Mass AG Complaint against Credit Acceptance alleging that Credit Acceptance has, for years, been making unfair and deceptive automobile loans to thousands of Massachusetts consumers. In addition, the lawsuit specifically alleges that Credit Acceptance provided its investors with false and/or misleading information regarding the asset-backed securitizations they offered to investors, and that the Company engaged in unfair debt collection practices as well.

In response to the public disclosure of the Mass AG Complaint, Credit Acceptance’s stock price fell $85.36 per share, or over 18%, to close at $374.07 per share over two trading days ending on September 1, 2020.

The complaint, filed on October 2, 2020, alleges that defendants failed to disclose to investors: (i) that the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (ii) that Credit Acceptance was making high interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (iii) that the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (iv) that Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (v) that, as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (vi) that, as a result of the foregoing, defendants positive statements about the Company’s business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis.

For more information on the Credit Acceptance class action go to: https://bespc.com/cases/CACC

Precigen, Inc. f/k/a Intrexon Corporation (NASDAQ: PGEN; XON)

Class Period: May 10, 2017 to September 25, 2020

Lead Plaintiff Deadline: December 4, 2020

On September 25, 2020, the U.S. Securities and Exchange Commission (“SEC”) issued a cease and desist order against Precigen. The cease and desist order involved “inaccurate reports concerning the company’s purported success converting relatively inexpensive natural gas into more expensive industrial chemicals using a proprietary methane bioconversion (‘MBC’) program.” The order noted that the Company was “primarily using significantly more expensive pure methane for the relevant laboratory experiments but was indicating that the results had been achieved using natural gas.” The cease-and-desist order further stated that although the Company “pitched the MBC program privately to numerous potential business partners over the course of 2017 and 2018” and “[a] number of these potential partners performed due diligence on the MBC program including reviewing lab results and plans for commercialization. [The Company] has not yet found a partner for the MBC program.”

The complaint, filed on October 5, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company was using pure methane as feedstock for its announced yields for its methanotroph bioconversion platform instead of natural gas; (2) yields from natural gas as a feedstock were substantially lower than the aforementioned pure methane yields; (3) due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock; (4) the Company’s financial statements for the quarter ended March 31, 2018 were false and could not be relied upon; (5) the Company had material weaknesses in its internal controls over financial reporting; (6) the Company was under investigation by the SEC since October 2018; and (7) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times.

For more information on the Precigen class action go to: https://bespc.com/cases/PGEN

Royal Caribbean Group (NYSE: RCL)

Class Period: February 4, 2020 to March 17, 2020

Lead Plaintiff Deadline: December 7, 2020

The complaint, filed on October 7, 2020, alleges that throughout the Class Period defendants failed to disclose material facts about the Company’s decrease in bookings outside China, instead maintaining that it was only experiencing a slowdown in bookings from China. The Action further alleges that defendants failed to disclose material facts about the Company’s inadequate policies and procedures to prevent the spread of COVID-19 on its ships. The truth about the scope of the impact that COVID-19 had on the Company’s overall bookings and the inability of Royal Caribbean to prevent the virus’ spread on its ships was revealed through a series of disclosures.

First, on February 13, 2020, Royal Caribbean issued a press release stating that it had canceled 18 voyages in Southeast Asia due to recent travel restrictions and further warning that recent bookings had been softer for its broader business. 

On this news, Royal Caribbean shares fell over 3 percent.

Second, on February 25, 2020, Royal Caribbean filed its 2019 Form 10-K, indicating that COVID-19 concerns were negatively impacting its overall business. 

On this news, Royal Caribbean shares fell over 14 percent.

Third, on March 10, 2020, Royal Caribbean withdrew its 2020 financial guidance, increased its revolving credit facility by $550 million, and announced that it would take cost-cutting actions due to the proliferation of COVID-19, further revealing that COVID-19 was severely impacting Royal Caribbean’s 2020 customer booking and that its safety measures were inadequate to prevent the spread of the virus on its ships. 

On this news, Royal Caribbean shares fell over 14 percent.

Fourth, on March 11, 2020, Royal Caribbean’s largest competitor, Carnival, announced a 60-day suspension of all operations, prompting concern that Royal Caribbean would follow suit. At the same time, Royal Caribbean also cancelled two cruises, beginning a series of cancellations and suspensions to follow. 

On this news, Royal Caribbean shares fell almost 32 percent.

Fifth, on March 14, 2020, Royal Caribbean announced a suspension of all global cruises for 30 days. 

On this news, Royal Caribbean stock fell over 7 percent.

Sixth, on March 16, 2020, the Company revealed that global operations could be suspended longer than anticipated, announcing the cancellations of two additional cruises throughout April and into May. 

On this news, Royal Caribbean shares fell over 7 percent.

Finally, on March 18, 2020, analysts downgraded Royal Caribbean’s stock and slashed their price targets. 

On this news, Royal Caribbean shares fell more than 19 percent.

For more information on the Royal Caribbean class action go to: https://bespc.com/cases/RCL

Mesoblast Limited (NASDAQ: MESO)

Class Period: April 16, 2019 to October 1, 2020

Lead Plaintiff Deadline: December 7, 2020

Mesoblast develops allogeneic cellular medicines using its proprietary mesenchymal lineage cell therapy platform. Its lead product candidate, RYONCIL (remestemcel-L), is an investigational therapy comprising mesenchymal stem cells derived from bone marrow. In February 2018, the Company announced that remestemcel-L met its primary endpoint in a Phase 3 trial to treat children with steroid refractory acute graft versus host disease (“aGVHD”).

In early 2020, Mesoblast completed its rolling submission of its Biologics License Application (“BLA”) with the FDA to secure marketing authorization to commercialize remestemcel-L for children with steroid refractory aGVHD.

On August 11, 2020, the FDA released briefing materials for its Oncologic Drugs Advisory Committee (“ODAC”) meeting to be held on August 13, 2020. Therein, the FDA stated that Mesoblast provided post hoc analyses of other studies “to further establish the appropriateness of 45% as the null Day-28 ORR” for its primary endpoint. The briefing materials stated that, due to design differences between these historical studies and Mesoblast’s submitted study, “it is unclear that these study results are relevant to the proposed indication.”

On this news, the Company’s share price fell $6.09, or approximately 35%, to close at $11.33 per share on August 11, 2020.

On October 1, 2020, Mesoblast disclosed that it had received a Complete Response Letter (“CRL”) from the FDA regarding its marketing application for remestemcel-L for treatment of SR-aGVHD in pediatric patients. According to the CRL, the FDA recommended that the Company “conduct at least one additional randomized, controlled study in adults and/or children to provide further evidence of the effectiveness of remestemcel-L for SR-aGVHD.” The CRL also “identified a need for further scientific rationale to demonstrate the relationship of potency measurements to the product’s biologic activity.”

On this news, the Company’s share price fell $6.56, or 35%, to close at $12.03 per share on October 2, 2020.

The complaint, filed on October 8, 2020, alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that comparative analyses between Mesoblast’s Phase 3 trial and three historical studies did not support the effectiveness of remestemcel-L for steroid refractory aGVHD due to design differences between the four studies; (2) that, as a result, the FDA was reasonably likely to require further clinical studies; (3) that, as a result, the commercialization of remestemcel-L in the U.S. was likely to be delayed; and (4) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For more information on the Mesoblast class action go to: https://bespc.com/cases/MESO

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com

LOS ANGELES, Nov. 11, 2020 (GLOBE NEWSWIRE) — The Rosen Law Firm, P.A. announces that the United States District Court for the Central District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of Verb Technology Corporation, Inc. (NASDAQ: VERB):

SUMMARY NOTICE OF PENDENCY AND


PROPOSED CLASS ACTION SETTLEMENT

TO:        ALL PERSONS WHO PURCHASED VERB TECHNOLOGY COMPANY, INC. (“VERB”) COMMON STOCK FROM JANUARY 3, 2018 THROUGH MAY 2, 2018, INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Central District of California, that a hearing will be held on February 18, 2021, at 8:30 a.m. before the Honorable George H. Wu, United States District Judge of the United States District Court for the Central District of California, First Street Federal Courthouse, 350 W. First Street, Courtroom 9D, 9th Floor, Los Angeles, CA 90012, or by telephonic or videoconference means as directed by the Court, for the purpose of determining:

(1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $640,000 should be approved by the Court as fair, reasonable, and adequate;

(2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate;

(3) whether the application of Lead Counsel for an award of attorneys’ fees of up to 25% of the Settlement Amount, reimbursement of expenses of not more than $25,000, and an award of no more than $1,000 to Plaintiffs, should be approved; and

(4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement dated September 17, 2020 (“Stipulation”).

If you purchased Verb common stock during the period from January 3, 2018 through May 2, 2018, inclusive (“Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Verb common stock. If you have not received a postcard providing instructions for receiving a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form (“Proof of Claim”), you may obtain copies by writing to or calling the Claims Administrator: Verb Technology Company, Inc. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 205, P.O. Box 230, Media, PA 19063; (Tel) (866) 274-4004; (Fax) (610) 565-7985; [email protected], or going to the website, www.strategicclaims.net. If you are a member of the Settlement Class, to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim to the Claims Administrator, postmarked no later than February 4, 2021, establishing that you are entitled to recovery. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.

If you desire to be excluded from the Settlement Class, you must submit a request for exclusion in the manner and form explained in the Notice to the Claims Administrator so that it is received no later than January 28, 2021. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action.

Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Plaintiffs must be in the manner and form explained in the Notice and received no later than January 28, 2021, by each of the following:

Clerk of the Court
United States District Court
Central District of California
First Street Federal Courthouse
350 W. First Street, Suite 4311
Los Angeles, CA 90012

LEAD COUNSEL:

Jacob A. Goldberg
The Rosen Law Firm, P.A.
101 Greenwood Avenue, Suite 440
Jenkintown, PA 19046

COUNSEL FOR DEFENDANTS

Steven M. Schatz
Catherine E. Moreno
WILSON SONSINI GOODRICH & ROSATI, P.C.
650 Page Mill Road
Palo Alto, CA 94304

If you have any questions about the Settlement, you may call or write to Lead Counsel:

Jacob A. Goldberg
The Rosen Law Firm, P.A.
101 Greenwood Avenue, Suite 440
Jenkintown, PA 19046
Tel.: 215-600-2817

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

Dated: October 28, 2020

BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE CENTRAL DISTRICT OF CALIFORNIA

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Fluidigm Corporation (“Fluidigm” or the “Company”) (NASDAQ: FLDM).   Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Fluidigm and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On August 1, 2019, Fluidigm reported second quarter 2019 revenues of $28.2 million, well below analysts’ expectations of $32 million, citing weakness in the Company’s microfluidics segment.  On this news, Fluidigm’s stock price fell $4.10 per share, or 34%, to close at $8.05 per share on August 2, 2019. 

Then, on November 5, 2019, Fluidigm reported that its third quarter 2019 revenue had declined 8.5% year-over-year.  On this news, Fluidigm’s stock price fell $2.60 per share, or 51%, to close at $2.51 per share on November 6, 2019.

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

Dallas, TX, Nov. 11, 2020 (GLOBE NEWSWIRE) — From family gatherings to socially distanced celebrations, Dickey’s Barbecue Pit has everything you need to enjoy a stress-free Thanksgiving!

There is a lot to be grateful for this holiday season including the convenience of Dickey’s new holiday catering options. This year, Dickey’s fans can order individualized holiday box lunches containing slow-smoked carved turkey sandwiches, sides of cornbread dressing, bags of chips and cookies along with a to-go sauce of the guests’ choice. The family-owned restaurant brand is also offering a deluxe version of its new holiday box lunch option that includes an additional fan-favorite holiday side of southern-style green beans.

For mid-size gatherings of eight to 12, Dickey’s is also offering a new ready-to-eat Holiday Big Yellow Box which comes with sliced turkey breast, cornbread dressing, gravy, baked potato casserole, green beans with bacon and a dozen buttery rolls.

Available for pickup and delivery throughout the holiday season from participating Dickey’s locations,  guests can enjoy these heat-and-eat options:

• The Complete Feast – Choose from smoked turkey, prime rib, Cajun-fried turkey or spiral ham along with cornbread dressing, gravy, baked potato casserole, green beans with bacon and a dozen buttery rolls.
• The Dinner Feast – Choose from smoked turkey, prime rib, Cajun-fried turkey or spiral ham along with cornbread dressing, gravy and a dozen buttery rolls.
• À La Carte Menu – Order any of Dickey’s slow smoked holiday meats of savory sides individually.

“This year is anything but traditional and we want to do what we can to help make sure that all of our guests enjoy Thanksgiving without the added stress of having to cook,” said Laura Rea Dickey, CEO of Dickey’s Barbecue Restaurants, Inc. “Our holiday feasts have always been a big hit and this year, we’ve debuted the Holiday Big Yellow Box, which is a delicious ready-to-eat option. Whether you’re looking for delicious, high-quality sides, slow smoked meats or dessert, Dickey’s is here to help!”

To place an order for a holiday feast from Dickey’s, visit dickeys.com/quote/order-menu.

Dickey’s can also tailer a catering menu for any event or occasion. Get a free quote at Dickeys.com or call a Catering Expert at 866-BARBECUE for details on holiday buffets for large events or the Holiday Big Yellow Box lunches for smaller events.
 
To learn more, follow Dickey’s Franchise on Facebook, Instagram and Twitter. Download the Dickey’s Barbecue Pit app from the Apple App Store or Google Play.

About Dickey’s Barbecue Restaurants, Inc.

Dickey’s Barbecue Restaurants, Inc., the world’s largest barbecue concept, was founded in 1941 by Travis Dickey. For the past 79 years, Dickey’s Barbecue Pit has served millions of guests Legit. Texas. Barbecue.™ At Dickey’s, all our barbecued meats are smoked onsite in a hickory wood burning pit. Dickey’s proudly believes there’s no shortcut to true barbecue and it’s why they never say bbq. The Dallas-based, family-run barbecue franchise offers several slow-smoked meats and wholesome sides with ‘No B.S. (Bad Stuff)’ included. The fast-casual concept has expanded worldwide with two international locations in the UAE and operates over 500 locations in 44 states. In 2016, Dickey’s won first place on Fast Casual’s “Top 100 Movers and Shakers” list and was named a Top 500 Franchise by Entrepreneur in 2018. Dickey’s Barbecue Pit has also been recognized by Fox News, Franchise Times, The Wall Street Journal, QSR Magazine, Forbes Magazine and Nation’s Restaurant News. For more information, visit www.dickeys.com. 

 

# # #

Attachment

• Dickeys Barbecue Pit Holiday Big Yellow Box

Greer Martin
Dickey's Barbecue Restaurants, Inc.
9729713898
[email protected]

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Pintec Technology Holdings Limited (“Pintec” or the “Company”) (NASDAQ: PT).   Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Pintec and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

In October 2018, Pintec completed its initial public offering (“IPO”), selling more than 3.7 million American Depositary Shares (“ADSs”) priced at $11.88 per share.  On July 30, 2019, after the market closed, the Company filed its fiscal 2018 annual report, in which it restated previously disclosed financial results.  Among other things, the Company reported net income of $315,000 for fiscal 2018, compared to its prior disclosure of $1.068 million net income.  

Pintec also disclosed that there were material weaknesses in its internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs.  On this news, Pintec’s ADS price fell $0.53 per share, or more than 13%, over the following trading sessions, to close at $3.40 per share on August 5, 2019. 

Then, on June 15, 2020, Pintec disclosed that it could not timely file its fiscal 2019 annual report and that it anticipated reporting a significant change in results of operations.  Specifically, the Company disclosed that it “erroneously recorded revenue earned from certain technical service fee on a net basis” for fiscal 2017 and 2018.  Moreover, Pintec “announced a net loss of RMB906.5 million in the full year of 2019 due to RMB890.7 million of provision for credit loss in amounts due from a related party, Jimu Group, and RMB200 million of impairment in prepayment for long-term investment.”  Since the IPO, Pintec’s ADSs have closed as low as $0.47 per share, representing a decline of more than 96% from the IPO price.

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