Market Newsdesk

November 12, 2020 8:33 am

Tel-Instrument Electronics Reports Second Quarter 2021 Results and Receipt of $1.1 Million Mode 5 Test Set Order

Tel-Instrument Electronics Reports Second Quarter 2021 Results and Receipt of $1.1 Million Mode 5 Test Set Order

EAST RUTHERFORD, N.J.–(BUSINESS WIRE)–
Tel-Instrument Electronics Corp. (“Tel”, “TIC” or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported net income of $222,748 on revenues of $3,336,396 for the second quarter of fiscal year 2021 ending September 30, 2020. The Company also announced the receipt of a $1.1 million follow-on order for Mode 5 test sets from a major U.S. defense supplier related to the F-35 Joint Strike Fighter program.

Highlights include:

Revenues decreased 15% from the year-ago quarter, primarily as a result of a decrease in our commercial business.
Gross margins for the quarter were 41% as compared to 48% for the same quarter last year mainly due to the competitive pricing on two major international contracts win. We expect margins to improve once these shipments are completed.
SGA expenses declined 26% mostly due to lower commission, accrued profit sharing and marketing consulting expenses.
Engineering expenses decreased 5% as a result of time spent on a funded engineering program.
Income from operations was $341,945 as compared to $631,178 for the same quarter last year.
Basic earnings per share of $0.04 as compared to $0.14 for the same quarter last year.
Backlog increased to $5.1 million at September 30, 2020 as compared to $4.0 million at March 31, 2020
Working capital increased $814,000 to $2.6 million at September 30, 2020 from $1.8 million at March 31, 2020
Stockholders’ equity increased to over $5 million.

Mr. Jeffrey O’Hara, Tel-Instrument’s President and CEO commented “We continue to be profitable with our second quarter income before taxes approximately double that of our first quarter, despite the impact of COVID-19 on our supply chain and labor force. The pandemic has resulted in a significant reduction in our commercial test set bookings and has delayed some orders from our domestic and international military customers. With the resurgence of the COVID-19 virus across the country, managing our supply chain and manufacturing operations will remain a challenge for the remainder of this fiscal year.

We continue to seek new opportunities, and our core Mode 5 business remains strong, representing 75% of total sales for the quarter. We recently received a $1.1 million Mode 5 follow-on test set order from a major U.S. Prime this week which will be shipped in the fourth quarter, and we have submitted quotes to the U.S. military for other Mode 5 and legacy test sets that we expect to secure in the next few months. Our $956K contract from Lockheed Martin to support the F-35 Joint Strike Fighter is proceeding on schedule with the Preliminary Design Review scheduled for next week. This is a competitively bid development contract to design a “go-no-go” test set for the F-35 advanced communication systems. The system will involve much higher frequency levels than what TIC has worked with in the past and is a testament to our engineering team who came up with a winning design concept. The contract includes eight engineering qualification test sets with an option for 50 additional production test sets upon the completion of the 12 month development program.

Our balance sheet and financial position continues to strengthen and we are well positioned to discharge the Aeroflex damage award in the event that we are unsuccessful with our pending legal appeal. The Company also received a $722,577 government loan from the Payroll Protection Program in May 2020. The Company applied for 100% forgiveness of this loan in November 2020, and we believe we meet the requirements for this to be granted. The loan has allowed us to continue development work on the SDR/OMNI test set despite the uncertain outlook for commercial aviation market.

Given the sharp decline in the commercial market, the Company is increasing its engineering focus on military communication applications. We have upgraded the design of our 4.5-pound SDR/OMNI hand-held test set to include a much faster processor with improved video graphics processing capability. This change will allow us the technological capability to compete in much larger markets where we have previously not had any presence. Our goal is to introduce a military communications test set in the first half of 2021 while still working to introduce a commercial avionics test set in the same timeframe.

In summary, the Company has never been in a stronger position with orders for Mode 5 and legacy test sets continuing and the Company aggressively expanding into related high-growth areas such as specialty engineering for Lockheed Martin and the military communications test set market. On a final note, we wish the best for Joe Macaluso, our Chief Accounting Officer, who announced his departure from the Company earlier this week. Joe has done a fantastic job at TIC and will be missed. Mr. O’Hara will assume Joe’s responsibilities until a replacement is named.”

About Tel-Instrument Electronics Corp.

Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinstrument.com.

This press release includes statements that are not historical in nature and may be characterized as “forward-looking statements,” including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company’s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company’s products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company’s previous filings with the U.S. Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the “Act”) protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.


TEL-INSTRUMENT ELECTRONICS CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS

	September 30, 2020			March 31, 2020
	(unaudited)
ASSETS

Current assets:
Cash	$	3,453,098		$	3,126,195
Accounts receivable, net		1,952,406			1,411,644
Inventories, net		3,048,897			3,092,679
Restricted cash to support appeal bond		2,010,454			2,008,544
Prepaid expenses and other current assets		404,474			382,428
Total current assets		10,869,329			10,021,490

Equipment and leasehold improvements, net		222,221			263,750
Operating lease right-of-use assets		201,017			306,740
Deferred tax asset, net		2,591,685			2,712,780
Other long-term assets		35,109			35,109
Total assets	$	13,919,361		$	13,339,869

LIABILITIES & STOCKHOLDERS’ EQUITY

Current liabilities:
Line of credit	$	680,000		$	680,000
SBA PPP loan – current portion		416,940			–
Operating lease liabilities – current portion		201,017			214,793
Accounts payable and accrued liabilities		577,531			1,035,023
Deferred revenues – current portion		134,593			145,168
Accrued legal damages		5,785,183			5,657,549
Finance lease obligations – current portion		–			49
Accrued payroll, vacation pay and payroll taxes		483,723			512,732
Total current liabilities		8,278,987			8,245,314

Operating lease liabilities – long-term		–			91,947
Deferred revenues – long-term		314,981			327,132
SBA PPP loan – long term		305,637			–

Total liabilities		8,899,605			8,664,393

Commitments and contingencies

Stockholders’ equity:
Preferred stock, 1,000,000 shares authorized, par value $0.10 per share
Preferred stock, 500,000 shares 8% Cumulative Series A Convertible Preferred issued and outstanding, par value $0.10 per share		3,635,998			3,515,998
Preferred stock, 166,667 shares 8% Cumulative Series B Convertible Preferred issued and outstanding, par value $0.10 per share		1,127,367			1,087,367
Common stock, 7,000,000 shares authorized, par value $0.10 per share, 3,255,887 shares issued and outstanding, respectively		325,586			325,586
Additional paid-in capital		7,467,176			7,616,624
Accumulated deficit		(7,536,371	)		(7,870,099	)
Total stockholders’ equity		5,019,756			4,675,476
Total liabilities and stockholders’ equity	$	13,919,361		$	13,339,869


TEL-INSTRUMENT ELECTRONICS CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	Three Months Ended						Six Months Ended
	September 30, 2020			September 30, 2019			September 30, 2020			September 30, 2019

Net sales	$	3,336,396		$	3,912,168		$	6,275,833		$	7,218,630
Cost of sales		1,969,573			2,038,535			3,404,399			3,763,393

Gross margin		1,366,823			1,873,633			2,871,434			3,455,237

Operating expenses:
Selling, general and administrative		464,809			625,163			1,126,060			1,237,634
Litigation expenses		5,514			91,553			8,210			102,060
Engineering, research and development		554,555			525,739			1,186,508			1,050,842
Total operating expenses		1,024,878			1,242,455			2,320,778			2,390,536

Income from operations		341,945			631,178			550,656			1,064,701

Other income (expense):
Interest income		1,879			1,018			4,725			2,018
Other income		–			–			13,854			–
Change in fair value of common stock warrants		–			5,500			–			(73,000	)
Interest expense – judgement		(52,490	)		(90,596	)		(127,634	)		(171,106	)
Interest expense		(9,380	)		(10,866	)		(19,160	)		(28,603	)
Total other expense, net		(59,991	)		(94,944	)		(128,215	)		(270,691	)

Income before income taxes		281,954			536,234			422,441			794,010

Income tax expense		59,206			–			88,713			–

Net income		222,748			536,234			333,728			794,010

Preferred dividends		80,000			80,000			160,000			160,000

Net income attributable to common shareholders	$	142,748		$	456,234		$	173,728		$	634,010

Basic income per common share	$	0.04		$	0.14		$	0.05		$	0.19
Diluted income per common share	$	0.04		$	0.11		$	0.05		$	0.16

Weighted average shares outstanding:
Basic		3,255,887			3,255,887			3,255,887			3,255,887
Diluted		5,068,949			4,945,665			3,255,887			4,945,665

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112005178/en/

Jeffrey O’Hara

Tel-Instrument Electronics Corp.

(201) 933-1600

KEYWORDS: United States North America New Jersey

INDUSTRY KEYWORDS: Engineering Defense Aerospace Manufacturing Other Manufacturing Other Defense

MEDIA:

November 12, 2020 8:33 am

VPC Impact Acquisition Holdings Announces the Separate Trading of its Ordinary Shares and Warrants, Commencing November 13, 2020

VPC Impact Acquisition Holdings Announces the Separate Trading of its Ordinary Shares and Warrants, Commencing November 13, 2020

CHICAGO–(BUSINESS WIRE)–
VPC Impact Acquisition Holdings (Nasdaq: VIHAU) (the “Company”) announced today that holders of the Company’s units sold in its initial public offering may elect to separately trade the Class A ordinary shares and redeemable warrants included in its units commencing on or about November 13, 2020.

No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The Class A ordinary shares and warrants that are separated will trade on The Nasdaq Capital Market (“Nasdaq”) under the symbols “VIH” and “VIHAW,” respectively. Those units not separated will continue to trade on Nasdaq under the symbol “VIHAU.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and warrants.

The units were initially offered by the Company in an underwritten offering. Jefferies LLC acted as the sole book-running manager for the offering. A registration statement relating to the units and the underlying securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 22, 2020.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 877-821-7388 or by email at [email protected].

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. No assurance can be given as to the consummation of any business combination or the terms thereof. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112005229/en/

Victory Park Capital

Julia Sahin, Edelman

[email protected]

646.301.2968

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Technology Professional Services Other Technology Finance

MEDIA:

November 12, 2020 8:32 am

Acorn Generates Positive Operating Cash Flow in Q3 on 9% Revenue Growth & 17% Gross Profit Growth in Remote Monitoring & Control (IoT)

WILMINGTON, Del., Nov. 12, 2020 (GLOBE NEWSWIRE) — Acorn Energy, Inc. (OTCQB: ACFN), a provider of Internet of Things (IoT) remote monitoring and control solutions for stand-by generators, gas pipelines, air compressors and other industrial equipment through its OmniMetrix subsidiary, today announced results for its third quarter (Q3’20) ended September 30, 2020. Acorn will host an investor call today at 11:00 a.m. ET to discuss its results and outlook (details below).

Jan Loeb, Acorn’s CEO, commented, “Our Q3 results again demonstrated our business’s resilience despite COVID-19 challenges. We achieved 9% revenue growth over Q3’19, a gross margin of 71%, and our cash balance increased by $206,000. We also reduced our consolidated operating loss to $23,000 in Q3’20 from $121,000 in Q3’19. High-margin, recurring monitoring service revenue rose 15%, driving a 17% increase in gross profit to $1,077,000 in Q3’20 from $922,000 in Q3’19. Given these trends, we believe Acorn has established the foundation necessary to continue generating positive cash flow and to reach consolidated net profitability in 2021.

“Due to the pandemic, we had endured a virtual halt in business development dialogues within our Corrosion Protection business as natural gas pipeline operators suspended vendor meetings. Fortunately, we are starting to see initial reengagement in sales dialogues by larger companies. For the year-to-date period, revenue in this segment has declined 27% versus 2019, principally related to product revenue, but the decline moderated to 14% in Q3’20 versus Q3’19. We feel this business is stabilizing and will return to growth as the pandemic subsides.

“While uncertainties around COVID-19 continue, we believe our business is resilient given the efficiency, ROI and safety considerations that our remote monitoring services can provide customers relative to the alternative, which is labor-intensive physical inspection of critical equipment. These benefits, combined with low penetration rates for remote monitoring and IoT solutions in industrial markets we serve, give us confidence in continued growth for our products and services. We also believe we have the right team and strategy in place to return to our long-term revenue growth goal of 20% in 2021.

“Our growth outlook is supported by new product launches, such as our Smart Annunciator product that provides customers with status updates on critical electric systems, as well as our AirGuard air compressor monitoring solution. This month we launched our new OmniPro data management software in our cathodic protection or pipeline segment, which should help to maintain our technology leadership in the industry.

“We had $1,966,000 of cash at September 30^th, which leaves us well positioned to consider opportunities to enhance shareholder value as we generate additional cash flow.”

OmniMetrix Summary Financial Results

($ in thousands)	Q3’20			Q3’19			Change		9mo. 2020			9mo. 2019			Change
Monitoring revenue	$	970		$	847		14.5	%	$	2,823		$	2,417		16.8	%
Hardware revenue	$	547		$	539		1.5	%	$	1,500		$	1,673		-10.3	%
Total revenue	$	1,517		$	1,386		9.5	%	$	4,323		$	4,090		5.7	%
Gross profit	$	1,077		$	922		16.8	%	$	3,021		$	2,644		14.3	%
Gross margin		71.0	%		66.5	%				69.9	%		64.6	%

Q3’20 revenue increased approximately 9% to $1,517,000, fueled by a 15% improvement in monitoring revenue resulting from an increase in the number of monitored endpoints, mitigated by a 1% increase in hardware revenue, due in part to COVID-19-related business development disruptions. Revenue grew 6% to $4,323,000 in the first nine months of 2020 versus the year-ago period, similarly driven by monitoring revenue growth of 17%, offset by a 10% decline in hardware revenue.

Q3’20 gross profit grew 17% to $1,077,000 versus Q3’19, and gross margin increased to approximately 71% in Q3’20 from 66% in the prior-year period, primarily due to the increase in higher-margin monitoring revenue. Monitoring revenue gross margin remained strong at 84% in both periods, while hardware gross margin improved to 44% in Q3’20 from 39% in Q3’19 due to an increasing mix of higher-margin, next-generation monitoring products and a favorable adjustment to the warranty provision.

OmniMetrix’s Q3’20 total operating expenses increased 6% to $867,000 from $816,000 in Q3’19, primarily due to an increase in personnel and travel costs, as well as IT infrastructure and R&D investments for new product development. During Q3’20, OmniMetrix gave performance-based salary increases to employees and the sales team resumed travel to customer prospects that are now open to receiving outside guests. Management anticipates that OmniMetrix’s selling, general and administrative (SG&A) costs will increase in Q4’20, due to personnel salary increases effective September 1, 2020, the easing of travel restrictions for sales meetings, and continuing IT infrastructure investments.

Reflecting gross profit outpacing operating expense growth, OmniMetrix reported Q3’20 operating income of $210,000, nearly doubling from $106,000 in Q3’19.

Acorn Consolidated Financial Results

Acorn’s corporate SG&A costs increased 3% to $233,000 in Q3’20, versus $227,000 in Q3’19. Corporate SG&A is flat year-to-date and management does not expect corporate SG&A expense to increase materially other than expenses that may be required to support growth in OmniMetrix.

Q3’20 net loss attributable to Acorn shareholders improved to $32,000, or $0.00 per share, as compared to a net loss attributable to Acorn shareholders of $121,000, or $0.00 per share, in Q3’19. For the first nine months of 2020, Acorn’s net loss attributable to shareholders improved to $348,000, or ($0.01) per share, versus $557,000, or ($0.02) per share in the first nine months of 2019.

Liquidity and Capital Resources

Cash generated from operating activities improved to $300,000 in the first nine months of 2020, compared to a use of cash of $933,000 in the first nine months of 2019. This difference of approximately $1.2 million, is primarily due to positive changes in net working capital, including increased receivable collections, less cash needed for payables, as well as a reduction in the net loss.

At September 30, 2020, consolidated cash and cash equivalents increased to $1,966,000 from $1,247,000 at December 31, 2019. Acorn’s consolidated cash includes aggregate Paycheck Protection Program (“PPP”) loan proceeds of $461,400 received in Q2’20. The company repaid $41,600 of such proceeds effective October 22, 2020, and was notified on November 5, 2020 by the lender that the SBA has forgiven repayment of the remaining $419,800.

OmniMetrix’s outstanding balance on its receivables-based line of credit as of September 30, 2020 was $171,000 compared to $136,000 at December 31, 2019. Acorn believes the Company’s current cash, expected cash flow from operations, and available cash from borrowings, provides sufficient liquidity to finance the company’s operating activities for the foreseeable future.

The ongoing global impact of COVID-19 continues to be uncertain. The Company’s operations may be materially affected by the pandemic, including a material adverse impact on the Company’s financial position, operations and cash flows. Possible effects may include, but are not limited to, disruption to the Company’s customers and revenue, absenteeism in the Company’s labor workforce, and supply chain disruption.

Conference Call Details

Date/Time:		Thursday, November 12th at 11:00 am ET
Dial-in Number:		1-844-834-0644 or 1-412-317-5190 (Int’l)
Online Replay/Transcript:		Audio file and call transcript will be posted to the Investor section of Acorn’s website when available.
Submit Questions via Email:		[email protected] – before or after the call.

About Acorn (

www.acornenergy.com

) and OmniMetrix™ (www.omnimetrix.net)
Acorn Energy, Inc. owns a 99% equity stake in OmniMetrix, a pioneer and leader in machine-to-machine (M2M) and Internet of Things (IoT) wireless remote monitoring and control solutions for stand-by power generators, gas pipelines, air compressors and other industrial equipment. OmniMetrix’s proven, cost-effective solutions make critical systems more reliable. The company monitors tens of thousands of assets for customers, which include 25 Fortune/Global 500 companies. In addition to residential generators, OmniMetrix solutions monitor critical equipment used by cell towers, manufacturing plants, medical facilities, data centers, retail stores, public transportation systems, energy distribution and federal, state and municipal government facilities.

Safe Harbor Statement

This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that Acorn will be successful in growing its business, reaching profitability, or maximizing the value of its operating company and other assets. A complete discussion of the risks and uncertainties that may affect Acorn Energy’s business, including the business of its subsidiary, is included in “Risk Factors” in the Company’s most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.

Follow us

Twitter: @Acorn_IR and @OmniMetrix

Investor Relations Contacts

Catalyst IR
William Jones, 267-987-2082
David Collins, 212-924-9800
[email protected]

ACORN ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE DATA)

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

Revenue	$	1,517		$	1,386		$	4,323		$	4,090
Cost of sales – products and services		460			465			1,322			1,417
Cost of sales – other		(20	)		(1	)		(20	)		29
Gross profit		1,077			922			3,021			2,644
Operating expenses:
Research and development expenses		160			137			453			420
Selling, general and administrative expense		940			906			2,887			2,815
Total operating expenses		1,100			1,043			3,340			3,235
Operating loss		(23	)		(121	)		(319	)		(591	)
Finance expense, net		(8	)		—			(28	)		5
Loss before income taxes		(31	)		(121	)		(347	)		(586	)
Income tax expense		—			—			—			—
Net loss		(31	)		(121	)		(347	)		(586	)
Non-controlling interest share of net (income) loss		(1	)		—			(1	)		29
Net loss attributable to Acorn Energy, Inc. shareholders	$	(32	)	$	(121	)	$	(348	)	$	(557	)

Basic and diluted net loss per share attributable to Acorn Energy, Inc. shareholders:	$	(0.00	)	$	(0.00	)	$	(0.01	)	$	(0.02	)
Weighted average number of shares outstanding attributable to Acorn Energy, Inc. shareholders – basic and diluted		39,687			40,393			39,669			33,844

ACORN ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

	As of September 30, 2020			As of December 31, 2019
ASSETS
Current assets:
Cash and cash equivalents	$	1,966		$	1,247
Accounts receivable, net		732			962
Inventory, net		299			291
Deferred charges		806			741
Other current assets		117			189
Total current assets		3,920			3,430
Property and equipment, net		264			189
Right-of-use assets, net		518			587
Other assets		670			778
Total assets	$	5,372		$	4,984
LIABILITIES AND DEFICIT
Current liabilities:
Short-term credit	$	171		$	136
Loan payable – current portion		256			—
Accounts payable		273			197
Accrued expenses		55			136
Deferred revenue		3,289			3,004
Current operating lease liabilities		97			53
Other current liabilities		143			68
Total current liabilities		4,284			3,594
Non-current liabilities:
Loan payable		207			—
Deferred revenue		1,357			1,491
Noncurrent operating lease liabilities		468			542
Other non-current liabilities		5			2
Total non-current liabilities		2,037			2,035
Commitments and contingencies
Deficit:
Acorn Energy, Inc. shareholders
Common stock – $0.01 par value per share:
Authorized – 42,000,000 shares; Issued – 39,687,589 and 39,591,339 shares at September 30, 2020 and December 31, 2019, respectively		397			396
Additional paid-in capital		102,718			101,655
Warrants		3			1,021
Accumulated deficit		(101,030	)		(100,682	)
Treasury stock, at cost – 801,920 shares at September 30, 2020 and December 31, 2019		(3,036	)		(3,036	)
Total Acorn Energy, Inc. shareholders’ deficit		(948	)		(646	)
Non-controlling interests		(1	)		1
Total deficit		(949	)		(645	)
Total liabilities and deficit	$	5,372		$	4,984

November 12, 2020 8:30 am

DICK’S Sporting Goods Kicks Off Holiday Season On November 18 With First-Ever “10 Days of Black Friday”

RETAILER FOCUSED ON ENHANCED SAFETY, CONVENIENCE AND TECHNOLOGY

PR Newswire

PITTSBURGH, Nov. 12, 2020 /PRNewswire/ — DICK’S Sporting Goods (NYSE: DKS), the largest U.S.-based, full-line omni-channel sporting goods retailer, announced today it is making it more convenient than ever to experience “The Magic of Sport” this holiday season. DICK’S will offer many ways to shop meaningful, must-have gifts for the entire family with savings both in-store and online.

Experience the interactive Multichannel News Release here:
https://www.multivu.com/players/English/8476453-dicks-sporting-goods-holiday-10-days-of-black-friday/

To help ensure a safe shopping experience this holiday season, DICK’S will be offering its Black Friday deals over a 10-day period, rather than concentrated on a single day. The Company has also hired more teammates to fulfill Ship From Store and one-hour Curbside Contactless Pickup orders, giving customers many ways to check things off their holiday shopping list.

In addition to the high standard of in-store sanitation DICK’S rolled out in March, the use of enhanced technology will help customers enjoy an efficient shopping experience — including mobile checkout and return stations, as well as the recently introduced DICK’S Shop/Click/Pay app in select stores. The Company has also rolled out detailed plans to manage lines at its more than 800 stores nationwide.

“We recognize the holiday shopping season is starting much earlier and will be a different experience this year for our customers,” said Lauren Hobart, President, DICK’S Sporting Goods. “For the first time, we are extending our deals and making it easier than ever for our customers to get the best gifts for everyone on their list with flexible pickup and fast shipping to help them alleviate unwanted stress and large crowds. We’ve doubled down on technology solutions to ensure customers get what they need quickly, safely and hassle-free.”

This holiday season, DICK’S will have an even bigger selection of gifts for everyone, including great items for the outdoor enthusiast, golfer, runner, team sports athlete and sports fan. Shoppers planning to upgrade a home gym space or looking to gift the latest trends in apparel, footwear and outerwear can take advantage of holiday deals and promotions.

Exclusive Holiday Deals and Promotions
Shoppers who want to get a jump start on their holiday shopping can take advantage of DICK’S first-ever 10 Days of Black Friday deals starting Wednesday, November 18. Deals will be valid online and in-store through 11:59 p.m. Saturday, November 28, with deals starting on November 18, week-long deals and 3-day deals. A sample of deals include:

Deals Starting November 18

Up to $1200 off SOLE Cardio Equipment, available from $999.99–$1599.99 (was $1799.99–$2799.99)
50% OFF Prince Tournament 6800 Indoor Table Tennis Table, available for $299.98 (was $599.99)
Up to $50 off Nishiki Pueblo Mountain Bikes found exclusively at DICK’S, available from $229.99–$279.99 (was $269.99–$329.99)
Up to $700 OFF Select In-Ground and Portable Basketball Hoops: $349.99–$799.99 (was $499.99–$1499.99)
Up to $200 off Schwinn Exercise Bikes, available from $549.99–$899.99 (was $699.99–$999.99)
Up to 40% off select golf equipment
$39.99 Select Tour Golf Balls, plus free personalization

Week-Long Deals Starting November 22

25% off select Nike, adidas, Champion, NFL and NCAA products
25% off select Nike and adidas athletic footwear
30% off The North Face
40% off DSG Men’s, Women’s and Kids’ Fleece
$100 off Men’s or Women’s Top-Flite Complete Sets, available for 199.98 (was 299.99)
$400 off Horizon Fitness T101 Treadmill, available for $599.98 (was $999.99)

3-Day Deals Starting November 26

The North Face men’s and women’s Alpz 2.0 Down Jacket and Vest found exclusively at DICK’S will be $109.98 and $69.98 (was $169.00 and $119.00)
Up to 25% off Men’s, Women’s and Youth Sorel Boots

DICK’S Sporting Goods will continue passing along savings to its customers by offering “Hot Holiday Deals” at dicks.com and in-store throughout the holiday season.

Best Retail Experience Delivering Safety and Convenience
Safety measures implemented in all DICK’S, Golf Galaxy and Field & Stream locations in March will be expanded this holiday season. Stores will offer convenience, flexibility and the best value in-store, online at dicks.com or through the DICK’S mobile app, with services including:

One-Hour Pick-up: DICK’S offers customers the option to purchase thousands of products online with easy one-hour curbside or in-store pickup. Exclusions may apply to certain items.
Ship to Home: If an item is sold out in-store or only sold online, associates can place an order for a customer and have it shipped directly to their homes.
Best Price Guarantee: Customers can continue to get the products they want at an unbeatable price this holiday season with DICK’S Best Price Guarantee. If a customer provides proof the same gift is available at another retailer for a lower price, DICK’S will match that price at the register.
The Gift That Always Fits: Customers can give the gift of a DICK’S gift card, available in-stores or online at dicks.com, for recipients to use at more than 800 DICK’S Sporting Goods, Field & Stream or Golf Galaxy locations or online at dicks.com, fieldandstreamshop.com or golfgalaxy.com. eGift cards can arrive within minutes.
ScoreCard: Earn one point for every $1 spent on qualified purchases. Get a $10 reward for every 300 points earned. ScoreCard Gold members can unlock access to members-only perks.
Deals at Your Fingertips: There are now TWO ways to get the best deals and latest launches delivered to your phone. Download DICK’S free mobile app on Apple or Android or visit dicks.com/text to learn more about DICK’S text alerts program.

All DICK’S Sporting Goods, Golf Galaxy and Field & Stream store locations and the Company’s distribution centers will be closed on Thanksgiving Day, November 26, allowing teammates to spend the holiday with their families. Black Friday offers will be available on Thanksgiving Day at dicks.com, golfgalaxy.com and fieldandstreamshop.com with stores re-opening on Black Friday at 5 a.m. to serve customers nationwide.

Most DICK’S, Golf Galaxy and Field & Stream locations will offer extended shopping hours throughout the holiday season. Please check your local store website for more details. Store and curbside pickup hours may vary throughout the holiday shopping season.

To start shopping and saving early, visit dicks.com.

About DICK’S Sporting Goods, Inc.

Founded in 1948, DICK’S Sporting Goods, Inc. is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories. As of October 31, 2020, the Company operated 732 DICK’S Sporting Goods locations across the United States, serving and inspiring athletes and outdoor enthusiasts to achieve their personal best through a blend of dedicated teammates, in-store services and unique specialty shop-in-shops dedicated to Team Sports, Athletic Apparel, Golf, Lodge/Outdoor, Fitness and Footwear.

Headquartered in Pittsburgh, PA, DICK’S also owns and operates Golf Galaxy and Field & Stream specialty stores, as well as GameChanger, a youth sports mobile app for scheduling, communications and live scorekeeping. DICK’S offers its products through a dynamic eCommerce platform that is integrated with its store network and provides customers with the convenience and expertise of a 24-hour storefront. For more information, visit the Investor Relations page at dicks.com.

Contact:

DICK’S Sporting Goods – [email protected]

Category:
Company

DICK’S Sporting Goods Kicks Off Holiday Season on November 18 With First-Ever “10 Days of Black Friday”

View original content:http://www.prnewswire.com/news-releases/dicks-sporting-goods-kicks-off-holiday-season-on-november-18-with-first-ever-10-days-of-black-friday-301171761.html

SOURCE DICK’S Sporting Goods

November 12, 2020 8:30 am

Hall of Fame Resort and Entertainment Company and the NFL Alumni Association Provide Update on the Success of the Inaugural NFL Alumni Academy

Hall of Fame Resort and Entertainment Company and the NFL Alumni Association Provide Update on the Success of the Inaugural NFL Alumni Academy

Ten of the Academy’s participants have now either received workouts or signed contracts with NFL franchises

CANTON, Ohio–(BUSINESS WIRE)–
Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football, and the NFL Alumni Association are pleased to share an update on the tremendous success of the inaugural NFL Alumni Academy (the “Academy”), the first-ever development and training program for aspiring professional football players. The Academy, which is based at the Tom Benson Hall of Fame Stadium at the Hall of Fame Village powered by Johnson Controls in Canton, Ohio, has now seen 10 of its participants receive workouts or signed NFL contracts this season after Christian Ringo (New Orleans Saints), O’Shea Dugas (Cincinnati Bengals), Josiah Coatney (San Francisco 49ers) and R.J. Prince (Baltimore Ravens) were called up this month.

The six other Academy participants invited to work out for or signed with NFL teams this season include:

Evan Adams
Tavien Feaster
Stacy Keely
Trevon McSwain
Aca’Cedric Ware
Ethan Westbrooks

Michael Crawford, President and CEO of HOFV, said, “We are pleased to be in a position to offer a world-class facility to athletes chosen to attend the Academy, where they can train and develop their games alongside some of the greatest to ever coach and play in the NFL. We look forward to the continued success of this program and the opportunity to expand its recognition across the U.S. through our partnership with Sports Illustrated Studios and future sponsorships with leading brands.”

Since September 2020, participants of the Academy have been working under the tutelage of former NFL personnel and professional trainers to further develop their games. Participants receive hands-on coaching from former Minnesota Vikings Head Coach Mike Tice, Hall of Fame offensive lineman Anthony Munoz, two-time Pro Bowler Jermon Bushrod and legendary performance coach Chip Smith, as well as former NFL coaches and players Steve Smith, Jay Hayes, Chuck Smith, Moe Williams, Jerome Felton, Al Smith and Dean Dalton.

“All 32 NFL teams have accessed the Academy portal to evaluate these free agent players,” said Mr. Dalton, Executive Director of the NFL Alumni Academy, who spent seven seasons coaching offensive lineman and running backs for the Vikings. “NFL personnel departments are starting to recommend certain players and, during these challenging times of COVID protocols, find it a very positive advantage to request private ‘virtual’ workouts of players at the Academy. The feedback that we are getting from the personnel directors within the League has been tremendous as they can evaluate these invited free agents on video gaining a direct perspective on the conditioning level and the improved technique development. They can contact our coaching staff to discuss each player’s intangible value as well. Our Academy is definitely being recognized as the ‘go-to’ personnel source for each NFL team’s need to fill their respective depth charts in-season.”

The goal of the Academy is to prepare its participants for every aspect of the game of football to ensure they have competitive advantages that allow them to get to the next level. The Academy has a tremendous outlet to set these players apart, while keeping NFL franchises current regarding player progress and developments.

About the Hall of Fame Resort & Entertainment Company

The Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame’s campus. Additional information on the Company can be found at www.HOFREco.com.

About the NFL Alumni Association

The NFL Alumni Association is a nationwide group of former National Football League players, coaches and other employees whose mission is to serve, assist and inform former players and their families. The association offers a variety of medical, financial and social programs to help members lead healthy, productive and connected lives, as well as community initiatives under the NFL Alumni’s “Caring for Kids” programs. The NFL Alumni Association hosts the NFL Alumni Academy Player Development Program each football season at the Hall of Fame Village powered by Johnson Controls in Canton, Ohio.

About the NFL Alumni Academy

The NFL Alumni Academy provides a pathway for the top-graded players that were released from NFL training camps to return to the NFL by giving them the opportunity to further develop their skills and realize their potential by training under the tutelage of elite former NFL coaches, players and performance coaches. The Tom Benson Hall of Fame Stadium at the Hall of Fame Village powered by Johnson Controls will initially serve as the NFL Alumni Academy’s headquarters and training facility. The Academy will then move to the Center for Performance, which will be located on the Village’s campus and is anticipated to be completed in 2022. The Center for Performance will feature an 80,000-square-foot, state-of-the-art indoor field house and training facility, among other amenities.

About WaV Sports and Entertainment LLC

WaV Sports & Entertainment is a global sports marketing firm that specializes in sports property representation, brand side representation, and the management and production of unique sporting and entertainment events. WaV exclusively represents, manages and operates the NFL Alumni Academy and various other NFL Alumni projects such as their youth educational programming known as Pro Day Experience. Additional information on the Company can be found at www.WaVsports.com

Forward-Looking Statements

Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words and phrases such as “opportunity,” “future,” “will,” “goal,” and “look forward” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of the business combination; costs related to the business combination; the inability to obtain or maintain the listing of the Company’s shares on Nasdaq; the Company’s ability to manage growth; the Company’s ability to execute its business plan and meet its projections; potential litigation involving the Company; changes in applicable laws or regulations; general economic and market conditions impacting demand for the Company’s products and services, and in particular economic and market conditions in the resort and entertainment industry; the potential adverse effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic conditions, unemployment and the Company’s liquidity, operations and personnel, as well as those risks and uncertainties discussed from time to time in our reports and other public filings with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112005634/en/

Media/Investor Contacts:

For HOFV

Media Inquiries

[email protected]

Investor Inquiries

[email protected]

For WaV

Brian Klaasmeyer

[email protected]

KEYWORDS: United States North America Ohio

INDUSTRY KEYWORDS: Entertainment Sports General Sports Other Travel Lodging Commercial Building & Real Estate Destinations Football Construction & Property Travel General Entertainment Other Entertainment

MEDIA:

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November 12, 2020 8:28 am

Calix Support Cloud Update Further Enables Customer Experience Teams to Improve First Call Resolution by up to 36 Percent and Deliver Massive Operational Savings

Calix Support Cloud Update Further Enables Customer Experience Teams to Improve First Call Resolution by up to 36 Percent and Deliver Massive Operational Savings

Latest release of Calix Support Cloud enables CSP support teams to deliver a new level of high-touch care, resolving issues with a single call and minimizing escalations

SAN JOSE, Calif.–(BUSINESS WIRE)–Calix, Inc. (NYSE: CALX) today announced enhancements to Calix Support Cloud (CSC) that will dramatically increase the efficiency of how subscribers set up EDGE Suites while also delivering massive operational savings via dramatic reductions in issue escalations, follow-up calls, and truck rolls. This new level of high-touch care allows customer support representatives (CSRs) to work directly through the cloud platform to solve issues. This eliminates the need for subscribers with varying levels of technical expertise to perform complex tasks, potentially resulting in more trouble calls.

To date, CSC customers have realized dramatic improvements in operational efficiencies including first call resolution (FCR) of up to 36 percent. With this latest release, support team leaders can also track the effectiveness of support interactions through a refreshed CSC dashboard that delivers the same deep network insights but now in an actionable, graphical format. Support teams can instantly check key performance metrics to ensure they are providing the best possible service to their subscribers.

“We recently added ExperienceIQ™ and ProtectIQ™ to our portfolio of product offerings and learned immediately how much control it puts into the hands of our subscribers,” said Jerry Piper, VP of operations for the Idaho-based Cambridge Telephone Company. “In the effort to manage the home Wi-Fi experience, subscribers are going to have different levels of tech-savviness, so our support teams must be able to help manage devices and applications. Our teams are always looking for ways to serve our customers better, so the ability to essentially manage their networks for them is a huge benefit. Our subscribers know they can call on our support team, and we will be able to take care of them efficiently, usually solving their problem in a single call.”

Calix Cloud^® customers also have access to Customer Success Services—experts who help CSP teams use CSC insights optimally and stay on top of the latest best practices, including increasing FCR. These collaborations help CSRs deliver the ultimate experience to their subscribers.

“EDGE Suites are designed to give subscribers more control over their experience, but CSR teams play a critical, front-line role in ensuring the setup process is user-friendly,” said Shane Eleniak, SVP of Revenue EDGE products for Calix. “This latest release continues the evolution of Calix Support Cloud, further tying its benefits to EDGE Suites and creating a win-win for subscribers and service providers. The home Wi-Fi experience continues to improve and become smarter for subscribers because CSR teams are armed with actionable insights and the ability to directly intervene as necessary. The result is more efficient setup calls that result in faster resolutions—not escalations and follow-ups.”

Learn more about the latest Revenue EDGE enhancements from ConneXions and our 20.4 quarterly product release in our November 24 webinar “Elevate your value: Deliver experiences that capture your subscribers’ attention.”

About Calix

Calix, Inc. (NYSE: CALX) – Innovative communications service providers rely on Calix platforms to help them master and monetize the complex infrastructure between their subscribers and the cloud. Calix is the leading global provider of the cloud and software platforms, systems, and services required to deliver the unified access network and smart premises of tomorrow. Our platforms and services help our customers build next generation networks by embracing a DevOps operating model, optimize the subscriber experience by leveraging big data analytics and turn the complexity of the smart, connected home and business into new revenue streams.

This press release may contain forward-looking statements that are based upon management’s current expectations and are inherently uncertain. Forward-looking statements are based upon information available to us as of the date of this release, and we assume no obligation to revise or update any such forward-looking statement to reflect any event or circumstance after the date of this release, except as required by law. Actual results and the timing of events could differ materially from current expectations based on risks and uncertainties affecting Calix’s business. The reader is cautioned not to rely on the forward-looking statements contained in this press release. Additional information on potential factors that could affect Calix’s results and other risks and uncertainties are detailed in its quarterly reports on Form 10-Q and Annual Report on Form 10-K filed with the SEC and available at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112005351/en/

Press Inquiries:

Dale Legaspi

408-474-0056

[email protected]

Investor Inquiries:

Tom Dinges

408-474-0080

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Mobile/Wireless Technology Security Other Technology Telecommunications Software Networks Internet Data Management Consumer Electronics

MEDIA:

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November 12, 2020 8:28 am

Hamilton Thorne to Announce Q3 2020 Financial Results and Hold Conference Call on November 19, 2020

BEVERLY, Mass. and TORONTO, Nov. 12, 2020 (GLOBE NEWSWIRE) — Hamilton Thorne Ltd. (TSX-V: HTL), a leading provider of precision instruments, consumables, software and services to the Assisted Reproductive Technologies (ART), research, and cell biology markets, today announced that it will release its financial results for the three- and nine-month periods ended September 30, 2020 before market open on Thursday, November 19, 2020. The press release, with accompanying financial information, will be posted on the Company’s website at www.hamiltonthorne.ltd and on www.sedar.com.

The Company will follow with a conference call on the same day at 11:00 a.m. EST to review highlights of the results. All interested parties are welcome to join the conference call by dialing toll free 1-855-223-7309 in North America, or 647-788-4929 from other locations, and requesting Conference ID 6491864. A recording of the call will be available on Hamilton Thorne’s website shortly after the call.

About Hamilton Thorne Ltd.
(

www.hamiltonthorne.ltd

)

Hamilton Thorne is a leading global provider of precision instruments, consumables, software and services that reduce cost, increase productivity, improve results and enable breakthroughs in Assisted Reproductive Technologies (ART), research, and cell biology markets. Hamilton Thorne markets its products and services under the Hamilton Thorne, Gynemed, Planer, and Embryotech Laboratories brands, through its growing sales force and distributors worldwide. Hamilton Thorne’s customer base consists of fertility clinics, university research centers, animal breeding facilities, pharmaceutical companies, biotechnology companies, and other commercial and academic research establishments.

Neither the TSX Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

David Wolf, President & CEO	Michael Bruns, CFO	Glen Akselrod
Hamilton Thorne Ltd.	Hamilton Thorne Ltd.	Bristol Investor Relations
978-921-2050	978-921-2050	905-326-1888
[email protected]	[email protected]	[email protected]

November 12, 2020 8:26 am

ScottMadden’s New Energy Industry Update Explores 100% Clean Energy and Net-Zero Strategies

Looking at Transition Strategies

Atlanta, GA, Nov. 12, 2020 (GLOBE NEWSWIRE) — ScottMadden, Inc., one of North America’s leading management consulting firms specializing in energy, recently released its latest edition of The ScottMadden Energy Industry Update (EIU). Themed “Running Up That Hill,” this EIU explores how the energy industry is attempting to do extraordinary things in extraordinary times.

More than a dozen U.S. electric utilities have announced 100% clean energy commitments, and several states have enacted similar legislation. These commitments are becoming increasingly common, and the public sentiment toward these efforts is largely favorable. But how will they accomplish these ambitious goals? It will require massive capital investments, a transition to new technologies (some yet to be commercialized), and changes to grid operations. Since 2005, the shift from coal to natural gas as a power generation fuel has driven more than 60% of energy-related CO₂ emissions reductions in the United States. As we advance, there is likely to be considerable traction gained from new agents of change—renewable energy resources and battery storage.

ScottMadden reviewed five recent integrated resource plans (IRPs) to understand how some electric utilities are planning to pursue decarbonization over the next 15 years. The themes and strategies that span these IRPs may provide a roadmap—or some pointers—to other electric utilities considering clean energy goals or strategies. As the EIU highlights, an emerging trend is the reliance on and expansion of renewable energy and battery storage capacity.

“A number of tools are being considered by utilities and states that have committed to clean energy targets,” explains Cristin Lyons, partner and energy practice leader at ScottMadden. “These include small modular nuclear generation, the use of hydrogen, and significant advances in battery storage. We’re hopeful that over the long-term the markets will begin to value some of these resources in a way that provides reliable, cost-effective, and lower-emitting power to customers.”

For more information about clean energy commitments, you can hear from Freedom David in this new video or access our latest report here.

Complimentary Energy Industry Update Webcast

If you have not yet registered, we encourage you to join ScottMadden’s complimentary webcast, “ScottMadden’s Energy Industry Update – “Running Up That Hill” on Thursday, November 19, 2020, from 1PM–2PM EST. During this session, our industry experts share their views and field questions related to the current issues in wholesale electricity markets, ambitions for hydrogen in the energy system of the future, and near-term plans to move toward net-zero CO₂ emissions. Cristin Lyons, partner and energy practice leader, will serve as webcast moderator. Register for this webcast here.

About ScottMadden’s Energy Practice

We know energy from the ground up. Since 1983, we have served as energy consultants for hundreds of utilities, large and small, including all of the top 20. We focus on Transmission & Distribution, the Grid Edge, Generation, Energy Markets, Rates & Regulation, Enterprise Sustainability, and Corporate Services. Our broad, deep utility expertise is not theoretical—it is experience based. We have helped our clients develop and implement strategies, improve critical operations, reorganize departments and entire companies, and implement myriad initiatives.

About ScottMadden, Inc.

ScottMadden is the management consulting firm that does what it takes to get it done right. We consult in two main areas—Energy and Corporate & Shared Services. We deliver a broad array of consulting services ranging from strategic planning through implementation across many industries, business units, and functions. To learn more, visit www.scottmadden.com | Twitter | Facebook | LinkedIn.

Savannah Russell
ScottMadden, Inc.
910-528-0310
[email protected]

November 12, 2020 8:18 am

LightAir’s Health+ wins IFMA Nordic Innovation Award 2020

Clean and virus-free Health+ air concept rewarded by the International Facility Management Association.

PR Newswire

STOCKHOLM, Nov. 12, 2020 /PRNewswire/ — The Health⁺ offer from LightAir, the Swedish cleantech company, has received the International Facility Management Association’s annual Nordic Innovation Award.

LightAir’s prize-winning concept delivers double protection through both active and passive air purification, using two different technologies.¹ The active air purification, using patented IonFlow technology, is receiving a lot of attention during the pandemic, since research by the renowned Karolinska Institutet has proved that it neutralizes 97% of airborne viruses, while they are still in the air.² Customers in the Nordic region mainly benefit from the Health⁺ concept through a subscription offering.

“We have a unique offer and together with our partners we are improving air quality at workplaces and schools. Facility Management is an industry that enables us to reach out widely with these solutions,” comments Joakim Hansson, Business Area Manager at LightAir. “This distinguished IFMA award for the innovation of the year will provide good tailwinds in our Nordic home market, as well as in our international rollout of the concept.”

The International Facility Management Association (IFMA) is the largest international network in facility management (FM), with 24,000 members in 105 countries. In recent years, the Swedish division has grown by over 100% and is today, with over 500 members, the obvious industry network for individuals and organizations within facility management in Sweden.

LightAir collaborates with a variety of Nordic sales and distribution FM partners regarding Health⁺. The first partnership agreement was concluded last year with Coor Service Management – one of the Nordic region’s leading FM providers. The company markets Health⁺ through its Coor SmartClimate offer and was also the nominating partner for the IFMA’s annual innovation award.

“We have seen how our customers receive a unique and flexible service that delivers true and great value at both company and individual levels,” says Mattias Wahlgren, Group Innovation Manager – Technology, at Coor. “It is encouraging that this offer has received this recognition from the industry. Collaboration with innovative partners such as LightAir adds to Coor’s service portfolio and our ambition to always offer our customers the market’s very best services and deliveries.”

The Health⁺ offer is currently available in LightAir’s Nordic home market and in a rapidly growing Dutch market. Broader launches in other international markets are underway.

¹

Patented technologies from LightAir

The active air purification in the Health⁺ offer is delivered through the patented IonFlow technology. This technology uses innovative ionization, which inactivates 97% of airborne viruses while they are still in the air, without passing any filter. Passive air purification takes place through LightAir’s patented CellFlow technology, which filters out 99.99% of ultra-fine particles and viruses. Read more at https://lightair.com/professional-solution

²

Research reports

Research on IonFlow technology and airborne viruses from Karolinska Institutet – based on seven years of study – was published in the medical journal Nature Scientific Report: https://www.nature.com/articles/srep11431 Additional independent research and test reports: https://lightair.com/air-science/lightair-performance/test-reports/

CONTACT:

For further information, please contact:

Lars Liljeholm

CEO, LightAir AB (publ)
+46 708 28 61 96
[email protected]

Joakim Hansson

Business Area Manager, Professional Solutions, LightAir AB (publ)
+46 709 61 56 10
[email protected]

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

https://news.cision.com/lightair/r/lightair-s-health-wins-ifma-nordic-innovation-award-2020,c3235982

The following files are available for download:

https://mb.cision.com/Main/14919/3235982/1334289.pdf	LightAir Pressrelease 2020-11-12 LightAirâ€™s Health+ wins IFMA Nordic Innovation Award 2020
https://news.cision.com/lightair/i/lightair-health–installation,c2849450	LightAir Health+ Installation

View original content:http://www.prnewswire.com/news-releases/lightairs-health-wins-ifma-nordic-innovation-award-2020-301171930.html

SOURCE LightAir

November 12, 2020 8:18 am

Halozyme Announces Janssen Submission Of Applications In US And EU Seeking Approval Of DARZALEX FASPRO™/ DARZALEX® Subcutaneous (SC) Formulation Utilizing ENHANZE® Technology, Combination With Pomalidomide And Dexamethasone For Patients With Relapsed Or Refractory Multiple Myeloma

PR Newswire

SAN DIEGO, Nov. 12, 2020 /PRNewswire/ — Halozyme Therapeutics, Inc. (NASDAQ: HALO) today announced that the Janssen Pharmaceutical Companies submitted regulatory applications to the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) seeking approval of the daratumumab subcutaneous (SC) formulation, known as DARZALEX FASPRO™ (daratumumab and hyaluronidase-fihj) in the U.S. and as DARZALEX^® (daratumumab) SC in the European Union (EU). The applications seek approval of the combination of DARZALEX FASPRO™/ DARZALEX^® SC with pomalidomide and dexamethasone (D-Pd) for the treatment of patients with relapsed or refractory multiple myeloma who have received at least one prior line of therapy. As a fixed-dose formulation, DARZALEX FASPRO™/ DARZALEX^® SC can be administered over approximately three to five minutes under the skin, significantly less time than the intravenous (IV) formulation of DARZALEX^®, which is given over several hours.

The supplemental Biologics License Application (sBLA) to the U.S. FDA and Type II variation application to the EMA are supported by positive findings from the Phase 3 APOLLO study (MMY3013), which met its primary endpoint of significantly longer progression-free survival (PFS) in patients with relapsed or refractory multiple myeloma who received D-Pd compared with Pd alone.¹

“We are pleased that Janssen has submitted applications in both the US and EU to expand the label for the subcutaneous form of DARZALEX^® utilizing our ENHANZE^® technology,” said Dr. Helen Torley, president and chief executive officer. “We look forward to the subcutaneous forms of DARZALEX^® becoming available for a broader group of patients with multiple myeloma, offering them the potential for reduced administration time from hours to minutes compared with the IV formulation.”

These applications are supported by positive results from the Phase 3 APOLLO study, which demonstrated improved significant progression-free survival in patients receiving the subcutaneous formulation of daratumumab.²

Full results from the Phase 3 APOLLO study, a collaboration between Janssen Research & Development, LLC and the European Myeloma Network (EMN), will be presented in an oral session at the upcoming American Society of Hematology (ASH) Annual Meeting on Sunday, December 6, 2020 at 3:00 p.m. ET (Abstract #412).

The D-Pd regimen received approval from the U.S. FDA for the IV formulation of DARZALEX^® in 2017 for patients who have received at least two prior therapies, including lenalidomide and a proteasome inhibitor. This regimen for the IV formulation is not approved for use in Europe by the EMA.

About Halozyme
Halozyme is a biopharmaceutical company bringing disruptive solutions to significantly improve patient experiences and outcomes for emerging and established therapies. Halozyme advises and supports its biopharmaceutical partners in key aspects of new drug development with the goal of improving patients’ lives while helping its partners achieve global commercial success. As the innovators of the ENHANZE^® technology, which can reduce hours-long treatments to a matter of minutes, Halozyme’s commercially-validated solution has positively impacted more than 400,000 patient lives via five commercialized products across more than 100 global markets. Halozyme and its world-class partners are currently advancing multiple therapeutic programs intended to deliver innovative therapies, with the potential to improve the lives of patients around the globe. Halozyme’s proprietary enzyme rHuPH20 forms the basis of the ENHANZE^® technology and is used to facilitate the delivery of injected drugs and fluids, potentially reducing the treatment burden of other drugs to patients. Halozyme has licensed its ENHANZE^® technology to leading pharmaceutical and biotechnology companies including Roche, Baxalta, Pfizer, Janssen, AbbVie, Lilly, Bristol-Myers Squibb, Alexion and argenx. Halozyme derives revenues from these collaborations in the form of milestones and royalties as the Company’s partners make progress developing and commercializing their products being developed with ENHANZE^®. Halozyme is headquartered in San Diego. For more information visit www.halozyme.com.

Safe Harbor Statement
In addition to historical information, the statements set forth above include forward-looking statements including, without limitation, statements concerning the possible activity, benefits and attributes of ENHANZE^®, the possible method of action of ENHANZE^®, its potential application to aid in the dispersion and absorption of other injected therapeutic drugs, and statements concerning certain other potential benefits of ENHANZE^® including facilitating more rapid delivery of injectable medications through subcutaneous delivery. These forward-looking statements also include statements regarding the product development efforts of Halozyme’s ENHANZE^® partner. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements are typically, but not always, identified through use of the words “believe,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict,” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including uncertainties concerning whether collaborative products are ultimately developed, approved or commercialized, unexpected expenditures and costs, unexpected results or delays in development and regulatory review including any potential delays caused by the current COVID-19 global pandemic, unexpected regulatory approval requirements, unexpected adverse events or patient outcomes, and competitive conditions. These and other factors that may result in differences are discussed in greater detail in Halozyme’s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission. Except as required by law, Halozyme undertakes no duty to update forward-looking statements to reflect events after the date of this release DARZALEX^® is a trademark of Janssen Pharmaceutica NV.

References:

¹ Chari, Ajai et al. “Daratumumab plus pomalidomide and dexamethasone in relapsed and/or refractory multiple myeloma.” Blood vol. 130,8 (2017): 974-981. doi:10.1182/blood-2017-05-785246
² Comparison of Pomalidomide and Dexamethasone With or Without Daratumumab in Subjects With Relapsed or Refractory Multiple Myeloma Previously Treated With Lenalidomide and a Proteasome Inhibitor Daratumumab/Pomalidomide/Dexamethasone vs Pomalidomide/Dexamethasone (EMN14). Available at: https://clinicaltrials.gov/ct2/show/record/NCT03180736 Last accessed: October 2020.

Contact:

Al Kildani

Vice President, Investor Relations and Corporate Communications
858-704-8122
[email protected]

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SOURCE Halozyme Therapeutics, Inc.