Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 259

Posts Tagged ‘labs’

Halo Labs Reports Financial Results for Fourth Quarter and Year End December 31, 2019

Posted by fidest press agency su martedì, 21 aprile 2020

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) today announced its 2019 financial and operational results. The Company reported revenues of $28.1 million for the year ended December 31, 2019, a 158% increase in comparison with the previous year. Adjusted gross profit was $5.3 million, excluding fair value gains in biological assets, impairment of inventory and non-reoccurring costs due to market circumstances in the fourth quarter in 2019. The adjusted gross margin in 2019 was 19% in comparison with -1% in 2018. Complete results are reported in the Company’s consolidated financial statements for the year ended December 31, 2019 and associated management discussion and analysis (the “MD&A”).Market circumstances across the Company’s two core markets in the fourth quarter materially affected financial results. On September 26, 2019, in response to the emerging health crisis tied to nicotine and cannabis vaping products, the Oregon Health Authority (OHA) issued a public health advisory and on October 4, 2019, Oregon’s Governor, Kate Brown, took the OHA warning a step further and issued an executive order immediately banning flavored cannabis vaping products, including cannabis vape cartridges, for 180 days. At the same time, California Governor Gavin Newsom and the California Department of Public Health (CDPH) advised all Californians to stop vaping until the root cause for the lung illness was pinpointed. The Governor Newsom’s order also required stores selling vaping devices to post warnings about the health risks of those products. BDS analytics found that vape product sales declined sharply through the end of 2019. Using data across Arizona, California, Colorado, Nevada and Oregon, sales had plummeted approximately 25% by October with additional declines expected throughout Q4. While revenue in 2019 fell below management’s initial expectations, when faced with several challenging market and regulatory dynamics Halo elected to forgo revenues that would cause the business to draw heavily upon cash reserves and thus strengthened Halo’s financial position relative to the industry as a whole. The Company had working capital of $15.3 million at December 31, 2019 compared with $6.2 million in 2018. At December 31, 2019, the Company had cash of $6.1 million, of which $1.7 million was restricted. The Company’s large inventory balances have been critical during the Covid-19 pandemic given supply chain disruptions experienced worldwide.

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Halo Labs Reports 118 New Dispensary Customers In Q1 2020 An Increase of 58% Quarter over Quarter

Posted by fidest press agency su giovedì, 16 aprile 2020

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) today announced that the Company has sold its products into 118 new dispensaries[1] (62 new dispensaries in California and 56 new dispensaries in Oregon) in the first calendar quarter of 2020. This represents an increase in the Company’s dispensary customer base of 282% in California and 19% in Oregon compared to Q4 2019 ending December 31, 2019.
The total number of stores currently penetrated 84 of 591 in California and 236 of 659 in Oregon represent approximately 14% and 36% percent of the total licensed dispensary market indicating plenty of room to continue the rapid rate of opening new customers. The Company attributes the trajectory of promising dispensary sales results to several strategies including expanding product selection both breadth of categories and depth of SKUs and increased segmentation of product offering to compete in key categories such as cartridges which are now available in cannabis derived terpene and live resin formulations.
Halo is a leading cannabis cultivation, manufacturing, and distribution company that grows and extracts and processes quality cannabis flower, oils, and concentrates and has sold over 5 million grams of oils and concentrates since inception. Additionally, Halo has continued to evolve its business through delivering value with its products and now via verticalization in key markets in the United States and Africa with planned expansion into European and Canadian markets. With a consumer-centric focus, Halo markets innovative, branded, and private label products across multiple product categories.www.sedar.com.

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Know Labs Discusses Intellectual Property Strategy

Posted by fidest press agency su domenica, 5 gennaio 2020

Know Labs, Inc. (OTCQB: KNWN) today reviewed its intellectual property strategy for investors as it moves into the 2020 calendar year. As discussed in its recent annual 10-K filing, the Company has pursued for several years an ambitious intellectual property strategy focused on patent filings, trademarks, copyrights and trade secrets.The Company currently has 13 issued patents to which it possesses all right, title and interest. It also has an exclusive license to 9 patents owned by Allied Inventors, a spin-off subsidiary of Intellectual Ventures, the largest IP-centric fund in the world. In addition, the Company has a growing number of patents pending. That number is added to with regularity as the Company aggressively expands its patent portfolio.The Company expects new patents covering its foundational technology to issue over time. Recently, the Company received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) on an important addition to its patent portfolio covering foundational elements of its technology. The Company will provide detail on the scope and reach of its intellectual property patent portfolio as patents are issued.

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H.I.G. Growth Partners Invests in Passport Labs

Posted by fidest press agency su giovedì, 19 dicembre 2019

H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce that it has invested in the Series D growth financing for Passport Labs, Inc. (“Passport” or the “Company”), a leading mobility management platform. Founded in 2010 and based in Charlotte, North Carolina, Passport serves nearly 1,000 clients worldwide, helping them solve mobility challenges with solutions for parking, enforcement, permits, transit, and micro-mobility. Passport processes more than 100 million curbside transactions each year, resulting in more than $1.5 billion processed to date. The Company’s suite of solutions enables cities to take control of the curb, optimize mobility and create an interface between cities’ infrastructure and vehicles. Passport’s $65 million Series D financing round cements it as a market leader and one of the most highly capitalized government technology companies. With the new capital, Passport will grow its mobility software platform and expand its ecosystem to enable digital parking payments outside of traditional parking apps. In the coming months, Passport will be onboarding and announcing significant partnerships that will leverage its platform to facilitate parking payments.

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Capco and Candela Labs Announce APAC Regional Partnership

Posted by fidest press agency su giovedì, 7 novembre 2019

Capco, a leading technology and management consultancy dedicated to the financial services industry, and Candela Labs, a technology firm specializing in automation and digitalization solutions for insurance firms and banks, today announced a new strategic partnership.The partnership brings together Capco’s consulting and implementation expertise, and its delivery capabilities around business transformation and technology integration, with Candela Labs’ cloud-native suite of intelligent automation solutions for digital transformation for financial services firms. Capco and Candela Labs will work together to deliver digital transformation programs in a more agile, seamless and cost-effective way across the entire value chain of key business activities for financial services firms.

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Arkose Labs Announces Key Hires and Significant Business Growth in 2019

Posted by fidest press agency su domenica, 27 ottobre 2019

Arkose Labs, the platform that bankrupts the business model of fraud and abuse, today announced record business growth in 2019 and the appointment of new top talent in the fraud and abuse prevention space to boost global operations.Notable new hires include Lance Jacobs as VP of Sales, and Sam Francis as Chief Financial Officer. Jacobs’ operating experience spans over two decades and includes sales leadership roles at several start-ups and public companies. Most recently, Jacobs led enterprise sales at Akamai Technologies, responsible for the sales and adoption of their zero-trust cloud security services targeting Fortune 1000 customers. Francis brings more than 25 years of experience providing financial leadership, raising capital and managing both buy-side and sell-side M&A transactions to Arkose Labs.The appointment of Jacobs and Francis comes during a period of rapid growth for the company. Arkose Labs increased headcount 40% overall in 2019, and recently announced fraud expert Vanita Pandey as VP of Marketing in July and the addition of former president and CEO of ThreatMetrix, Reed Taussig, to its Board of Directors in May. Arkose Labs’ strong company growth and market traction is demonstrated by several notable achievements in 2019.

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Cresco Labs Wins Second Merit-Based License in Pennsylvania to Operate Three Additional Dispensaries

Posted by fidest press agency su venerdì, 21 dicembre 2018

Cresco Labs (CSE:CL), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that it has been awarded a second merit-based license for dispensary operations in Pennsylvania. The permit allows Cresco Labs six months in which to become operational before it can begin dispensing medical marijuana. The Company is licensed for three dispensaries under its second license.“Our marquee platform in Pennsylvania showcases our success as the first cultivator to bring branded products to market, the first dispensary approved to open, and the first sale of product to a customer in that state’s program,” said Charles Bachtell, CEO of Cresco Labs. “We are extremely proud of our accomplishments in Pennsylvania and look forward to continuing to provide relief to patients as we open three new dispensaries. After New Kensington, we plan to open our fourth Pennsylvania dispensary in Reading and then expand into the southeast region of the state.” The Pennsylvania medical marijuana program was signed into law in early 2016 and provides access to state residents with one of 17 qualifying conditions, including epilepsy, chronic pain, and PTSD. Following Cresco Labs’ successful win in the state’s first highly competitive application process, the Company first entered the Pennsylvania market in February 2018 with the opening of its Butler retail dispensary, making the first ever legal sale of cannabis under Pennsylvania’s medical marijuana program. Cresco’s flagship location in Pennsylvania, which opened in June 2018, is located in the historic Strip District of the city of Pittsburgh. The Company expects to open its third Pennsylvania dispensary in New Kensington during the first quarter of 2019. Under terms of its first license, Cresco Labs also operates a cultivation facility in Brookville, PA and the products manufactured there are on the shelves of every dispensary in the state.“Winning merit-based state application processes is the first part of our two-pronged growth strategy, complementing our focus on strategic acquisitions of assets in established regulated markets with high growth potential and barriers to entry,” Bachtell added. “This second license win in Pennsylvania allows us to continue to build our market leadership in one of the most attractive and highly coveted markets in the country and to expand the relief we provide to patients in that state.” Pennsylvania operates as a high-barrier market with very limited market participation. Retail sales opened in February 2018 to a limited number of retail locations across the state. Pennsylvania’s medical marijuana market is expected to become one of the biggest markets in the U.S.1 and due to the rapid acceleration of cannabis demand in Pennsylvania, Cresco Labs is currently implementing a 70,000 square foot expansion that will provide an additional 45,000 square feet of cultivation space at their Brookville facility.

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