Market Newsdesk

Highlights

Q3 2020
revenue
w
as
up
21.5% over Q3 2019
,
hitting the highest
quarterly
 r
evenue in the company’s history

Q3 2020 revenue was up 31.0% over Q2 2020, marking a significant recovery from the COVID-19 shutdown

Gross margin for Q3 2020 was 42.3% up from 37.9% in Q3 2019

BEVERLY HILLS, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) — Rideshare Rental, Inc. (“RSR” or the “Company”) (Other OTC:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, today announced financial results for the quarter ended September 30, 2020.

“We are very pleased with our performance in Q3 2020,” commented Ramy El-Batrawi, CEO. “Although the COVID-19 shutdowns caused our quarterly revenue to decrease in the beginning of the second quarter of 2020 compared to the same period in 2019, we saw a positive upward movement in revenue by the end of the second quarter. Q3 was up 21% year over year and was up 31% over Q2 2020, hitting the highest quarterly revenue in the Company’s history. Gross margins grew to 42% up from 38% from Q3 2019, making the Company’s core rental operations profitable before taking into account corporate overhead and one-time costs.”

“This significant increase in revenue is a result of our immediate pivot in marketing to the delivery gig industry, a sector which continued activity throughout the COVID-19 shutdown. With Proposition 22 passing that established workers as independent contractors, superseding a California law that aimed to make gig workers, including ride-hailing and food delivery drivers, employees with full benefits, will create more demand as drivers make more money. This is important because the majority of our fleet are in California. We anticipate seeing continued growth in revenue as we add more cars, demand is strong not only in California but also in all cities we service. We are running at a 95% utilization rate on available cars to rent in all areas,” CEO Ramy El-Batrawi added.

Rideshare Car Rentals LLC, our wholly-owned subsidiary, is an online rideshare vehicle booking platform to service the ridesharing and delivery gig economy which includes both our owned-fleet and third party fleets.

Fleet Management

Distinct Cars LLC, our wholly-owned subsidiary, maintains a fleet of passenger vehicles that are commercially available for rent by gig-economy drivers.

About Rideshare Rental, Inc.

Rideshare Rental, Inc. bridges the gap between rideshare drivers in need of a suitable vehicle and rideshare companies that depend on attracting and keeping drivers. Rideshare Rental, Inc. uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. Rideshare Rental, Inc. is a leading provider of rental vehicles to drivers in the ever-expanding gig economy.

Rideshare Rental, Inc. provides SEC filings, investor events, press and earnings releases about our financial performance on the investor relations section of our website (www.yayyo.com).

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results.

Public Relations Contact

Ramy El-Batrawi
Phone: 888-209-5643
Email: [email protected]

RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.)

CONDENSED CONSOLIDATED BALANCE SHEETS

As of September 30, 2020 and December 31, 2019

		September 30,				December 31,
		2020				2019
		(unaudited)
ASSETS
Current Assets:
Cash		$	84,732			$	1,256,429
Accounts receivable			53,338				59,331
Prepaid expenses			431,973				782,900
Total current assets			570,043				2,098,660
Equipment, net			2,280				3,395
Rental vehicles, net			7,140,289				4,737,047
Deposit on vehicles			–				164,080
Other assets			200,000				200,000
TOTAL ASSETS		$	7,912,612			$	7,203,182
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities:
Accounts payable (including $692,386 and $394,183 to related party)		$	1,453,305			$	545,254
Accrued expenses (including $0 and $171,665 to related party)			432,815				405,977
Notes payables, current (net of discount of $4,570 and $32,289)			497,872				287,378
Advance from related party			50,000				–
Finance lease obligations, current			1,689,534				1,416,446
Total current liabilities			4,123,526				2,655,055
Note payable, net of current portion			149,900				–
Finance lease obligations, net of current portion			1,978,238				984,119
TOTAL LIABILITIES			6,251,664				3,639,174
Commitments and contingencies			–				–
STOCKHOLDERS’ DEFICIT
Preferred stock, $0.000001 par value; 10,000,000 shares authorized; nil shares issued and outstanding			–				–
Common stock, $0.000001 par value; 90,000,000 shares authorized; 31,981,374 and 29,427,803 shares issued and outstanding			32				29
Additional paid-in capital			29,708,377				28,735,894
Accumulated deficit			(28,047,461	)			(25,171,915	)
Total stockholders’ deficit			1,660,948				3,564,008
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT		$	7,912,612			$	7,203,182

RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

For the Three and Nine Months Ended September 30, 2020 and 2019 (unaudited)

		Three Months Ended September 30,								Nine Months Ended September 30,
		2020				2019				2020				2019
Revenue		$	2,070,821			$	1,718,439			$	5,399,018			$	5,193,957
Cost of revenue			1,194,957				1,067,373				3,891,307				3,111,614
Gross profit			875,864				651,066				1,507,711				2,082,343
Operating expenses:
Selling and marketing expenses			113,904				80,039				324,546				182,645
General and administrative expenses			1,088,152				761,151				3,845,768				2,221,962
Loss on the settlement of debt			–				–				–				252,900
Total operating expenses			1,202,056				841,190				4,170,314				2,657,507
Loss from operations			(326,192	)			(190,124	)			(2,662,603	)			(575,164	)
Other income (expense):
Interest and financing costs			(65,292	)			(180,531	)			(212,943	)			(792,406	)
Total other income (expense)			(65,292	)			(180,531	)			(212,943	)			(792,406	)
Net loss		$	(391,484	)		$	(370,655	)		$	(2,875,546	)		$	(1,367,570	)
Weighted average shares outstanding :
Basic			31,981,374				26,802,803				30,828,676				26,774,636
Diluted			31,981,374				26,802,803				30,828,676				26,774,636
Loss per share
Basic		$	(0.01	)		$	(0.01	)		$	(0.09	)		$	(0.05	)
Diluted		$	(0.01	)		$	(0.01	)		$	(0.09	)		$	(0.05	)

RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

For the Three and Nine Months Ended September 30, 2020 and 2019 (unaudited)

										Additional								Total
		Common Stock								Paid-in				Accumulated				Stockholders’
		Shares				Amount				Capital				Deficit				Equity (Deficit)
Balance, December 31, 2019			29,427,803			$	29			$	28,735,894			$	(25,171,915	)		$	3,564,008
Stock option expense											457,242								457,242
Net loss															(1,761,220	)			(1,761,220	)
Balance, March 31, 2020			29,427,803				29				29,193,136				(26,933,135	)			2,260,030
Issuance of common stock for cash			2,553,571				3				274,997								275,000
Net loss															(722,842	)			(722,842	)
Balance, June 30, 2020			31,981,374				32				29,468,133				(27,655,977	)			1,812,188
Stock option expense											240,244								240,244
Net loss															(391,484	)			(391,484	)
Balance, September 30, 2020			31,981,374			$	32			$	29,708,377			$	(28,047,461	)		$	1,660,948
Balance, December 31, 2018			26,718,676			$	27			$	19,193,151			$	(21,241,694	)		$	(2,048,516	)
Issuance of common stock for settlement of debt			80,000								640,000								640,000
Net loss															(579,463	)			(579,463	)
Balance, March 31, 2019			26,798,676				27				19,833,151				(21,821,157	)			(1,987,979	)
Issuance of common stock for settlement of debt			4,300								34,400								34,400
Net loss															(417,452	)			(417,452	)
Balance, June 30, 2019			26,802,976				27				19,867,551				(22,238,609	)			(2,371,031	)
Correction to outstanding shares			(173	)
Net loss															(370,655	)			(370,655	)
Balance, September 30, 2019			26,802,803			$	27			$	19,867,551			$	(22,609,264	)		$	(2,741,686	)

RIDESHARE RENTAL, INC. (FORMERLY YAYYO, INC.)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Nine Months Ended September 30, 2020 and 2019 (unaudited)

		2020				2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss		$	(2,875,546	)		$	(1,367,570	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization			1,047,075				730,610
Stock option expense			697,486				–
Common stock issued for services			–				–
Amortization of debt discounts			27,719				29,860
Loss on the settlement of debt			–				252,900
Changes in operating assets and liabilities:
Accounts receivable			5,993				(78,643	)
Prepaid expenses			350,927				1,394
Accounts payable			908,051				(419,958	)
Accrued expenses			26,838				697,518
Net cash provided by (used in) operating activities			188,543				(153,889	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable			342,675				1,951,300
Proceeds from sale of common stock			275,000				–
Proceeds from advance from related party			200,000				–
Repayment of advance from related party			(150,000	)			–
Repayment of notes payable			(10,000	)			(967,652	)
Repayment of finance lease obligations			(2,017,915	)			(1,025,863	)
Net cash used in financing activities			(1,360,240	)			(42,215	)
NET INCREASE (DECREASE) IN CASH			(1,171,697	)			(196,104	)
CASH, BEGINNING OF PERIOD			1,256,429				277,444
CASH, END OF PERIOD		$	84,732			$	81,340
CASH PAID FOR:
Interest		$	185,224			$	715,250
Income taxes		$	–			$	–
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES
Payment of accounts payable/accrued expenses with common stock		$	–			$	421,500
Value of equity recorded as debt discounts		$	–			$	–
Finance lease obligations		$	3,400,922			$	510,136

KANSAS CITY, Mo., Nov. 12, 2020 (GLOBE NEWSWIRE) — Husch Blackwell is pleased to announce that Quinncy McNeal has joined the firm in the newly established position of Pro Bono Counsel in its Houston office.

His hiring expands Husch Blackwell’s Pro Bono team as part of HB Communities for Change, the firm’s effort to harness the energy throughout its offices nationally to make positive change in the United States with respect to racial justice.

“Quinncy will focus on the establishment and support of minority-owned businesses by seeking creative solutions to foster their greater economic success, and hopefully, making a difference that compounds over time,” Margaret Richards, Husch Blackwell’s Director of Pro Bono Services, said. “During the last decade, Quinncy has made pro bono work a centerpiece of his practice. He brings with him experience working with minority-owned entrepreneurs, providing legal advice to burgeoning businesses seeking a foothold in the marketplace. Quinncy is absolutely perfect for this new pro bono position and we are very excited to welcome him to the firm.”

“After ten years representing Fortune 100 corporate giants, I am thrilled to now dedicate my practice exclusively to expanding access to the legal system for those most underrepresented in our communities,” McNeal said. “I am delighted to get started on this critically important initiative and to provide a strong, supportive and steady hand to the minority companies that already add such immeasurable value to the many communities in Husch Blackwell’s national footprint. With the help of this firm’s terrific and dedicated professionals, we are going to do something very special.”

McNeal earned his J.D. from the University of Houston Law Center and his B.S. in journalism from Northwestern University. Before focusing his legal practice on pro bono matters, he worked on extensive complex commercial litigation in state and federal courts, dispute resolution, compliance counsel, and transactional matters. Prior to pursing a legal career, McNeal was a television journalist in Texas and in Wisconsin.

# # # 

About Husch Blackwell

 Husch Blackwell is an industry-focused law firm with 21 offices across the United States, including its virtual office, The Link. The firm represents clients around the world in major industries including energy and natural resources; financial services and capital markets; food and agribusiness; healthcare, life sciences and education; real estate, development and construction; and technology, manufacturing and transportation. For more information, visit huschblackwell.com.

Steve Renau
Husch Blackwell
816-983-8783
[email protected]

Half Moon Bay, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) — Athena Alliance, the global digital community of the top executive women in business, and Stanford Women on Boards, the elite organization of board-ready Stanford alumnae, faculty and staff, today announced a joint commitment to expanding board opportunities and governance education. Stanford Women on Boards will offer Athena membership to its 1,000+ female leaders to augment its member experience. Through Athena’s platform, created exclusively for senior executive women, Stanford Women on Boards members will access community, learning and even more board and CXO opportunities.

“We’re honored to welcome the women executives from one of the most prestigious universities in the world into Athena,” said Coco Brown, founder and CEO of Athena Alliance. “Stanford Women on Boards is an excellent addition to our existing high-caliber network of the top women in business around the world.”

“Athena’s engaging digital community will be a valued asset to members of Stanford Women on Boards by delivering networking and educational opportunities to accelerate our members’ path to the boardroom. Athena’s mission to advance women at the highest ranks of leadership aligns with our goals to increase the representation, readiness and influence of female leaders on corporate boards,” said Bess Weatherman, co-chair of Stanford Women on Boards and a member of the Stanford University Board of Trustees.

Stanford Women on Boards was founded in 2009 to help Stanford-affiliated female leaders to network, prepare for and discover board opportunities. Stanford’s collaboration with Athena will create a powerful ecosystem of opportunity and support for its members. Through Athena, Stanford Women on Boards members will be able to join or lead engaging live virtual events, access a robust learning library of content created by experienced leaders and board directors from top global brands, participate in a casual virtual community space and gain full access to opportunities, such as board seats, CXO roles and more. 

Athena frequently collaborates with progressive organizations, CEOs, communities and investment firms to enhance member benefits, provide a thoughtful executive development experience and deliver end-to-end board support services such as board director matching and board education. 

About Athena Alliance

Athena is a community platform that brings together women leaders, investors, CEOs, board directors, and corporations in one global, digital ecosystem. Women join Athena for executive coaching, board opportunities, exclusive events, one-on-one mentorship, and more. Athena also guides CEOs, venture firms and corporations to evolve their approach to senior leadership development, to strengthen their boards, and to access the world’s top female leaders. www.AthenaAlliance.com

About Stanford Women on Boards

Stanford Women on Boards (SWB) is committed to increasing the representation, readiness, and influence of Stanford-affiliated female leaders on corporate and fiduciary boards. SWB is a community of Stanford women preparing themselves and their peers to be exceptional stewards of organizations around the world. SWB helps companies find the best talent to build high performing diverse boards and collaborates with many groups to advance thought leadership on women in the boardroom. www.stanfordwomenonboards.stanford.edu.

###

Joanna Furlong
Athena Alliance
480-227-2752
[email protected]

London, Nov. 12, 2020 (GLOBE NEWSWIRE) — Sarah Dunn, an experienced international development leader, is joining Abt Associates as Managing Director of Abt Britain. 

 

Dunn spent nearly two decades as a senior executive with the Department for International Development (now Foreign, Commonwealth & Development Office), where her final role in 2014 was country director for DFID Southern Africa/South Africa. While at DFID, she worked across Africa, the Middle East, and Caribbean and held several other executive and strategic advisory positions.

 

Her public sector experience is complemented by a track record in market competitive and commercial settings, leading on strategy and partnership development for the Children’s Investment Fund Foundation (CIFF), as well as co-starting and raising 116M GBP ($150M USD) in funding as the head of Partnerships and Brands for The Power of Nutrition.

 

“Sarah brings extensive relationships and broad technical knowledge of Abt Associates’ international priorities from her time at DFID,” said company President and CEO Kathleen Flanagan. “As a leader, she is recognised for her values-driven, inclusive, and supportive style. She has a deep understanding of our markets and a focus on results that energizes people around her.”

 

Dunn holds a BA, Psychology from Brunel University in the UK and an MBA from BI Norwegian Business School in Norway

 

“We are delighted to welcome Sarah to Abt and look forward to introducing her to our global team when she starts on Monday, 30 November,” said Flanagan.

 

###

 

About Abt Associates

Abt Associates is a global consulting and research firm that uses data and bold thinking to improve the quality of people’s lives. From combatting infectious disease and conducting rigorous program evaluations, to ensuring safe drinking water and promoting access to affordable housing—and more—we partner with clients and communities to tackle their most complex challenges. 

http://www.abtassociates.com

Huw Sparkes
Abt Associates
+44 (0) 7964 227957
[email protected]

SEOUL, Korea, Nov. 12, 2020 (GLOBE NEWSWIRE) — EHang Holdings Limited (Nasdaq: EH) (“EHang”), the world’s leading autonomous aerial vehicle (“AAV”) technology platform company, announced its EHang 216 two-seater passenger-grade AAV had completed its maiden flight in Korea. The flight took place on November 11 at the “Open the Urban Sky” UAM Seoul Demo event in the center of Seoul. A series of trail flights of EHang 216 will then follow in several Korean cities. It is Korea’s first time to launch a flight of an autonomous “air taxi” over a densely populated downtown area.

The maiden flight was approved by Korea’s MOLIT after obtaining a Special Certificate of Airworthiness (“SAC”) for the EHang 216 AAV, a first SAC ever issued to a passenger-grade AAV.

The EHang 216 was purchased by the Seoul Metropolitan Government and is the first of its kind in Korea being officially registered under the Nationality and Registration Mark “HL008X” by MOLIT.

The Acting Mayor of Seoul, Seo Jeong-hyup said, “The air taxi is a dream of mankind for the future transportation. We are excited that Seoul can host the country’s first domestic demo flight. Seoul is pioneering itself as an innovative hub of the world. Urban air mobility services are drawing keen attentions as an option to alleviate ground traffic congestions with a huge potential for growth. The city government will strive to realize the human dream of safe flights for Seoul citizens and thus support the future industry of Korea.”

The Korea government announced the “Korean Urban Air Mobility (K-UAM) Roadmap” in June 2020 and expected to commercialize UAM services around 2023 to 2025.

On top of the maiden flight in Seoul, EHang plans to launch a series of trial flights in more locations across Korea for a variety of UAM uses, such as urban passenger transportation, aerial sightseeing, island hopping and aerial logistics.

EHang Founder, Chairman and CEO, Huazhi Hu said, “We are glad to see the Korean government taking the initiative in planning and implementing urban air mobility in Asia. This pioneering Special Certificate of Airworthiness marks a leap for both parties and builds on our regulatory breakthroughs in China, Europe, and America. We are excited to be the world’s first company to provide safe, comfortable, efficient and eco-friendly urban mobility solutions to Korea. We expect to accelerate UAM development and to expand in the Korea market in the near future.”

To watch the video of EHang 216’s maiden flight in Korea, please visit: https://youtu.be/QJaLezG1BL4

About EHang

EHang (Nasdaq: EH) is the world’s leading autonomous aerial vehicle (AAV) technology platform company. Our mission is to make safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with AAV products and commercial solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. As the forerunner of cutting-edge AAV technologies and commercial solutions in the global Urban Air Mobility (UAM) industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit www.ehang.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause EHang’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

Media
Contact: [email protected] 
Investor Contact: [email protected]  
In the U.S.: [email protected]
In China: [email protected]

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/54ced52e-b930-48b6-9d1f-9ce57bbc4ae4

https://www.globenewswire.com/NewsRoom/AttachmentNg/705804dc-bc83-4fcd-b5fd-f188cf5cafd0

https://www.globenewswire.com/NewsRoom/AttachmentNg/458c5847-2fe8-4df2-a0dc-d3fb0c1b8a58

https://www.globenewswire.com/NewsRoom/AttachmentNg/47ce17e0-bcbc-4d51-90cf-94eb716b40ab

METTAWA, Ill., Nov. 12, 2020 (GLOBE NEWSWIRE) — Brunswick Corporation (NYSE: BC) has announced the formation of Rpl, a consumer advisory board dedicated to shaping the future of recreational boating.  As home to the world’s leading marine brands like Mercury Marine, Boston Whaler, Sea Ray and Lund, Brunswick’s community of boaters will have unprecedented access to the industry’s most coveted brands.

“We want to spend more time with new boaters who we believe will help us elevate the boating experience for everyone,” said Lauren Beckstedt, CMO, Brunswick Divisions. “In reference to the Board’s name, feedback from the Rpl community will create a ripple effect in our business that we expect will make big waves in how Brunswick defines the future of the industry. Drawing from brand experiences in other industries, new boaters offer a heightened sensitivity to engagement- and product-needs that we want to be able to tap.”

This season, Brunswick brands outperformed the industry in appeal to new boaters, with some brands seeing new boater warranty registrations of more than 50 percent. Brunswick’s boat brands averaged a 99 percent increase in web traffic by women year to date, and all brands saw an increase in online activity and purchase from a younger demographic, demonstrating the need for new boaters to have more direct influence in the company strategy.

Rpl will bring together diverse boating perspectives to collaborate on topics aimed at driving retention among new boaters and increasing appeal and access to boating for all. In addition to participating in brand research initiatives, the Rpl community will have access to new product innovation previews, brand events in their area and weigh-in on the trends they want to see recreational marine adopt.   

“This group will be the voice for recreational boating of the future,” said Beckstedt. “And the boating future that Brunswick is shaping will be more diverse, more accessible, more versatile and bring with it the same exhilaration and thrill that so many boaters around the world have made core to their lifestyles.”

To learn more about the RPL Advisory Board, visit brunswick.com/RPL-Consumer-Advisory-Board 

About Brunswick

Headquartered in Mettawa, Ill., Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Garelick, and Whale marine parts; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine, and Lankhorst Taselaar marine parts distribution; Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Services Network, Freedom Boat Club, NAUTIC-ON. For more information, visit https://www.brunswick.com.

Attachment

• Brunswick Corporation launches Rpl

Lee Gordon
Vice President – Brunswick Global Communications & Public Relations
Brunswick Office: 847-735-4003
Mercury Office: 920-924-1808
Cell: 904-860-8848
[email protected]

Amsterdam, The Netherlands, Nov. 12, 2020 (GLOBE NEWSWIRE) — Global API and integration specialist Yenlo today launched its newest service, Connext Go! Yenlo’s new offering provides the capabilities of the Connext Platform—a plug and play, scalable, and fully managed and hosted middleware integration-platform-as-a-service (iPaaS) product—as an affordable subscription-based service. With the new Connext Go! service, organizations in the education, healthcare, government, and small to medium enterprise (SME) sectors) can now benefit from Yenlo’s innovative technology for their data and chain integrations.

Clients of the new service receive dedicated, around-the-clock service, taking care of everything from development to management, support and infrastructure. Yenlo experts handle everything at a fixed price per integration, per month offering full transparency. With this commercial pay-per-use model, clients gain the advantages of robust integration with a lower investment.

CEO Ruben van der Zwan stated, “I regularly speak with organizations in the SME sector, as well as within education, healthcare, and the government, and all of them are looking for two things: On the one hand, these companies want integrations and connections that better match their limited IT budgets. On the other hand, they’re looking for solutions that better match their strict deadlines. We are excited and proud to deliver our innovative, new Connext Go! service, which supports the digital transformation initiatives of these progressive enterprises while providing the efficiency that they have identified as their number one priority.”

Building on the Connext Platform’s Success

Yenlo launched the Connext Platform in 2019 as an affordable, scalable and effective alternative to classic integration for ensuring that systems, applications, databases and more are always connected. Connect Go! builds on the success of the Connext Platform, providing the next logical step in Yenlo’s technology offerings. The initial version of Connext Go! requires minimal customization, so customers can use it immediately. Yenlo takes care of everything: personalization, deployment and connection management. In this way, clients are fully taken care of at a predictable and affordable fixed price per integration per month.

“With our Connext Go! service, customers never have to worry. We take care of with the integration, so the IT staff can focus on business-critical work, driving more efficiency for everyone,” says Van der Zwan.

Want to know more about Connext Go!? Follow the link, and discover the details: https://www.yenlo.com/solutions/connext-go

About Yenlo

Yenlo is a leading global API- and integration specialist in enabling digital transformation with open source and agile technology. Yenlo is a Platinum Value-Added Reseller (VAR) of WSO2 and has been awarded both WSO2 Partner of the Year 2019 and WSO2 Most Certified Partner of 2019. Our business is founded on the belief that enterprises need to regain their agility and become digital agencies to optimize their customer intimacy; achieve operational excellence; or add new services, products, or business models. We believe this agility—in technology, knowledge and finance—can be created by applying an open source-first, API-first, and cloud-first strategy.

At Yenlo, we bring agility to enterprises by delivering first-class professional services based on deep expertise. Our services range from enterprise and solution architecture to software development; operational support; and WSO2 product support, training and certification programs. These are complemented by our pre-built solution-as-a-service offerings, including our Connext service, a fully managed integration-platform-as-a-service. For more information, visit www.yenlo.com, and join Yenlo’s LinkedIn, Yenlo’s WSO2 Community, or Twitter.

Trademarks and registered trademarks are the properties of their respective owners.

Tamara de Lange
Yenlo
+31 20 2700 700
[email protected]

ABERDEEN, Wash., Nov. 12, 2020 (GLOBE NEWSWIRE) — Pacific Financial Corporation (OTCQX: PFLC), (“Pacific”), the holding company for Bank of the Pacific, today announced plans to relocate its branch in Astoria, Oregon to Warrenton, Oregon effective March 2021. All customer accounts will be transferred to Warrenton and customers will be receiving a letter in the coming weeks outlining details of the transition.

“The lease for our Astoria Branch is expiring and after reviewing the increased rental costs we decided to look at other possibilities particularly in light of increased digital adoption and reduced lobby traffic accelerated by the pandemic. After careful review, we decided to reopen the Bank owned Warrenton Branch and close Astoria. The Warrenton building is only eight years old and was purposely built as a bank branch. While we are using it for administrative purposes today, it is five miles from the Astoria location, in great shape and easily accessible for our customers. Our employees look forward to continuing to support our customers in Clatsop County, offering the same great service as they do today,” said Denise Portmann, President and Chief Executive Officer.

While we are closing the physical location in Astoria, business development efforts will continue in Astoria and throughout Clatsop County. Customers have access to all of our branch locations as well as our technology based banking services such as mobile banking, remote deposit capture, Zelle, ATMs, debit cards and online banking. We believe optimizing our branch network and maximizing the use of our facilities are important aspects in prudently managing our capital resources.

Our Astoria team currently led by Kelly Knick – Astoria Branch Manager, Pam Rush – Business Banker and Joe Talamantez Jr. – Residential Real Estate Lender, will bring many years of relationship banking experience, with a proven track record in retail and small business to the Astoria and Warrenton communities.

ABOUT PACIFIC FINANCIAL CORPORATION

Pacific Financial Corporation of Aberdeen, Washington, is the bank holding company for Bank of the Pacific, a state chartered and federally insured commercial bank. Bank of the Pacific offers banking products and services to small-to-medium sized businesses and professionals in western Washington and Oregon. As of October 31, 2020, the Company had total assets of $1.2 billion and operated fourteen branches in the communities of Grays Harbor, Pacific, Whatcom, Skagit, Clark and Wahkiakum counties in the State of Washington, and two branches in Clatsop County, Oregon. The Company also operates loan production offices in the communities of Burlington, Washington and Salem and Eugene, Oregon. Visit the Company’s website at www.bankofthepacific.com. Member FDIC.

Cautions Concerning Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other laws, including all statements in this release that are not historical facts or that relate to future plans or events or projected results of Pacific Financial Corporation and its wholly-owned subsidiary, Bank of the Pacific. These forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those projected, anticipated or implied. These risks and uncertainties include various risks associated with growing the Bank and expanding the services it provides, successfully completing and integrating the acquisition of new branches and development of new business lines and markets, competition in the marketplace, general economic conditions, including the current COVID-19 pandemic and government responses thereto, changes in interest rates, extensive and evolving regulation of the banking industry, and many other risks. The pandemic could cause us to experience higher loan losses within our lending portfolio, impairment of goodwill, reduced demand for our products and services and other negative impacts on our financial position or results of operations. The depth, severity and scope of this current recession is uncertain, and our
company will not be immune to the effects of the financial stress resulting from a global pandemic and economic shutdown. We undertake no obligation to update or revise any forward-looking statement. Readers of this release are cautioned not to put undue reliance on forward-looking statements.

Contacts:

Denise Portmann, President & CEO
Carla Tucker, EVP & CFO
360.533.8873 

LEXINGTON, Mass., Nov. 12, 2020 (GLOBE NEWSWIRE) — Agenus Inc. (NASDAQ: AGEN), an immuno-oncology company with an extensive pipeline of checkpoint antibodies, cell therapies, adjuvants, and vaccines designed to activate immune response to cancers and infections, today announced that Dr. Steven O’Day, Executive Director of the John Wayne Cancer Institute, Dr. Jennifer Buell, President and COO of Agenus, and Patrick Jordan, COO of AgenTus Therapeutics, will participate in panel discussions at the Virtual SITC 2020 Immuno-Oncology Event hosted by B. Riley.

Date: Thursday, November 12, 2020

Panel #2: Next-Gen Checkpoint Inhibitors (CPI) and Co-Stimulatory Agonists Finally Ready for Prime Time

Time: 1:00 PM – 2:00 PM ET
Conference ID: 311564

Agenus Inc.
Steven O’Day, MD – Executive Director of the John Wayne Cancer Institute
Jennifer Buell, PhD – President & COO
Dhan Chand, PhD – Scientific Director Head of Drug Discovery

Compass Therapeutics
Thomas J. Schuetz, MD, PhD – Co-Founder & CEO

F-Star Therapeutics
Eliot Forster, PhD – President & CEO
Louis Kayitalire, MD – CMO

TRIGR Therapeutics
Miranda Toledano – COO & CFO

Panel #3:
Cell Therapy 2.0: Transforming Immune Cells to Mainstream Cancer Treatments

Time: 2:00 PM – 3:00 PM ET
Conference ID: 650564

Agenus Inc.
and AgenTus Therapeutics
Jennifer Buell, PhD – President & COO (Agenus)
Patrick Jordan – COO (AgenTus)

Adicet
Bio
Chen Schor – President & CEO
Stewart Abbott, PhD – COO & CSO

Mustan
g
Bio
Manny Litchman, MD – President & CEO
Knut Niss, PhD – CTO

Carisma
Therapeutics
Steven Kelly – President & CEO

Glycostem
Troels Jordansen – CEO
Jan Spanholtz, PhD – CSO

Replays will be available after the discussions by dialing 800-332-6854 or 973-528-0005 and entering the corresponding conference ID. They will also be available on the Events & Presentations page of the Agenus website at https://investor.agenusbio.com/events-and-presentations

About AgenTus Therapeutics, Inc.


AgenTus Therapeutics is a biopharmaceutical company focused on the discovery, development, and commercialization of breakthrough unmodified and modified allogeneic iNKT cells with engineered receptors, such as T cell receptors (TCRs) and Chimeric Antigen Receptors (CARs), designed to supercharge the human immune system cells to seek and destroy cancer. AgenTus also aims to advance adoptive cell therapy formats which would enable off-the-shelf living drugs. AgenTus has locations in Lexington, MA and Cambridge, UK. For more information, please visit www.agentustherapeutics.com.

About Agenus


Agenus is a clinical-stage immuno-oncology company focused on the discovery and development of therapies that engage the body’s immune system to fight cancer. The Company’s vision is to expand the patient populations benefiting from cancer immunotherapy by pursuing combination approaches that leverage a broad repertoire of antibody therapeutics, adoptive cell therapies (through its AgenTus Therapeutics subsidiary), and proprietary cancer vaccine platforms. The Company is equipped with a suite of antibody discovery platforms and a state-of-the-art GMP manufacturing facility with the capacity to support clinical programs. Agenus is headquartered in Lexington, MA. For more information, please visit www.agenusbio.com and our Twitter handle @agenus_bio. Information that may be important to investors will be routinely posted on our website and Twitter.

Contact:


Agenus Inc. 

Caroline Bafundo
212-994-8209
[email protected]

CAMBRIDGE, Mass., Nov. 12, 2020 (GLOBE NEWSWIRE) — Foghorn Therapeutics Inc. (Nasdaq: FHTX), a company pioneering the discovery and development of a new class of medicines targeting genetically determined dependencies within the chromatin regulatory system, today announced the appointment of Michael LaCascia as its Chief Legal Officer. An accomplished attorney, Mr. LaCascia joins Foghorn with extensive corporate, securities, governance, and transactional expertise within the biotechnology industry.

“The deep and proven experience Mike has across a wide range of legal and corporate matters in the life sciences sector will be invaluable to us as we move forward as a newly public company,” said Adrian Gottschalk, President and Chief Executive Officer of Foghorn. “Mike is an important addition to the leadership team as Foghorn transitions to a clinical-stage company with multiple high value programs and reinforces our commitment to establishing the strongest team possible to fully realize the promise of our Gene Traffic Control platform.”

Prior to joining Foghorn, Mr. LaCascia served as Senior Vice President and Chief Legal Officer of Q-State Biosciences, Inc., where he helped lead the transition of the company’s strategy from enabling discovery services to the discovery of its own proprietary therapeutics. He previously served as Senior Vice President, General Counsel and Secretary for Vertex Pharmaceuticals where he oversaw its global legal function and corporate governance. Mr. LaCascia also spent more than two decades at the firm WilmerHale LLP, where he was a partner in the firm’s corporate practice and specialized in securities, mergers and acquisitions, and corporate governance matters. Mr. LaCascia received his J.D. from Boston University Law School and a B.A. in Economics from Harvard College.

“I am thrilled to be joining Foghorn at this important time in the company’s evolution,” said Mr. LaCascia. “Foghorn has assembled an outstanding leadership team and a talented group of professionals who have quickly established the company as pioneers of a new class of potential medicines targeting breakdowns in the chromatin regulatory system. I look forward to contributing to the continued success of the company and helping to bring its breakthrough medicines to patients.”

About
Foghorn
Therapeutics

Foghorn^® Therapeutics is discovering and developing a novel class of medicines targeting genetically determined dependencies within the chromatin regulatory system. Through its proprietary scalable Gene Traffic Control™ platform, Foghorn is systematically studying, identifying and validating potential drug targets within the chromatin regulatory system. The company is developing multiple product candidates in oncology and expects to file an IND for its first program later this year.

Forward-Looking Statements

This press release contains “forward-looking statements” regarding the Company’s plans for its proposed initial public offering. Forward-looking statements include statements regarding the proposed public offering and other statements identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including risk regarding when we can complete the offering and other factors set forth under the heading “Risk Factors” in the Company’s registration statement on Form S-1. Any forward-looking statement made in this press release speaks only as of the date on which it is made.

MEDIA CONTACT

Fanny Cavalié, Foghorn Therapeutics
[email protected]

Gregory Kelley, Ogilvy
[email protected]

INVESTOR RELATIONS CONTACT

Allan Reine, Foghorn Therapeutics
[email protected]