Nokia Corporation Stock Exchange Release 17 December 2024 at 22:30 EET Nokia Corporation: Repurchase of own shares on 17.12.2024 Espoo, Finland – On 17 December 2024 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: * Rounded to two decimals On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million. Total cost of transactions executed on 17 December 2024 was EUR 3,741,698. After the disclosed transactions, Nokia Corporation holds 216,009,778 treasury shares. Details of transactions are included as an appendix to this announcement. On behalf of Nokia Corporation BofA Securities Europe SA About Nokia At Nokia, we create technology that helps the world act together. As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs. With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future. Inquiries: Nokia Communications Phone: +358 10 448 4900 Email: press.services@nokia.com Maria Vaismaa, Global Head of External Communications Nokia Investor Relations Phone: +358 40 803 4080 Email: investor.relations@nokia.com Attachment Daily Report 2024-12-17
Just_Super Listen below or on the go on Apple Podcasts and Spotify Quantum computing stocks are Wall Street's new momentum darlings. (0:15) Retail sales top expectations. (2:08) Meta updating Ray-Bans will live AI . (4:55) The following is an abridged transcript: Has the quantum trade already eclipsed the AI trade? Quantum Computing ( NASDAQ: QUBT ) shares are soaring for the second-straight trading day following news the company won a contract with NASA to utilize Dirac-3, its entropy quantum optimization machine, to support the space agency's advanced imaging and data processing demands. The stock is up 45% after a 70% surge on Monday. It has more than doubled since Friday and is up more than 500% since mid-November. Several other quantum stocks followed suit. D-Wave Quantum ( QBTS ) and Rigetti Computing ( RGTI ) are up about 10%. But IonQ ( IONQ ) is just lower. Danil Sereda, Investing Group Leader for Beyond the Wall Investing, says some of these meteoric rises among quantum computing stocks will be short-term events. The space is highly competitive, and likely only one or two of these companies will survive. "This fact puts investors in an awkward position if they try to invest in multiple companies without being aware of their particular prospects," Sereda said. "Due to the high technology hurdles and a scarcity of market players, many of these companies will be unable to survive, so it is important for investors not to buy into the entire niche on an ad hoc basis." "Also, there's a clear gap between their skyrocketing market caps and their factual performance. For example, IonQ has a market cap of more than $9b billion in the face of sustained losses, and Rigetti’s value at roughly $2 billion is in the face of declining revenue. Quantum Computing, likewise, is experiencing a stock price explosion while reporting little revenue and continued losses." Meanwhile, Seeking Alpha analyst Dilantha De Silva says IonQ is the best positioned among these stocks for long-term growth. "Although quantum computing stocks including IonQ are trading at stretched valuation levels on the back of a strong YTD performance, I believe this is just the beginning for these companies from a long-term perspective as we are yet to see the best this technology has to offer." Looking to the economy, November retail sales climbed 0.7% M/M , topping the +0.5% consensus and accelerating from 0.5% in October, revised up from +0.4%. Cars (ahem) drove the beat. Motor vehicle and parts sales surged 2.6% M/M. On a Y/Y basis, motor vehicle and parts dealers saw sales jump 6.5%. Core retail sales, which excludes motor vehicles and parts, increased 0.2% M/M, missing the +0.4% consensus, and unchanged from +0.2% prior (revised from +0.1%). Those numbers did not include the Sunday after Thanksgiving and Cyber Monday, which fell into December this year. Wells Fargo economists said today's report suggests holiday sales are still tracking in the neighborhood a gain of just over 3%. "We ultimately expect this will be a 'decent' holiday sales season for retailers. It's not going to knock anyone's socks off in the wake of record pandemic gains, but continued consumer momentum means it's unlikely to be overly weak either. As the calendar flips to 2025, households could face some new challenges, namely around tariffs." And speaking of holiday shopping, 35 years ago “Simpsons Roasting on an Open Fire” aired on Fox as the 30-minute show debuted as a Christmas Special. After Mr. Burns cancels Xmas bonuses and Homer’s Santa moonlighting gig falls short, Homer and Bart bet on a 99-1 long shot at the dog track. They lose – but come home with Santa’s Lil Helper. This year’s holiday episode – titled “O C'mon All Ye Faithful” – is on tonight. It will be the 778 th episode aired. It would take more than 16 days to watch them all in a row, so my next staycation is set. Among active stocks Pfizer ( PFE ) is higher after it issued its full-year 2025 guidance and reaffirmed its 2024 outlook in line. The company expects its 2025 revenue and adjusted diluted earnings per share to reach $61 billion to $64 billion and $2.80-$3.00, respectively. The consensus is $63.28 billion and $2.88. Alphabet's ( GOOG ) ( GOOGL ) self-driving vehicle unit Waymo picked Tokyo as its first international destination to test its robotaxis as the company moves towards expanding beyond the U.S. Waymo will partner with Tokyo's largest taxi operator Nihon Kotsu and taxi app GO to bring its fleet to the city. The cars will initially be operated manually by Nihon Kotsu drivers to map key areas of Tokyo. And SolarEdge Technologies ( SEDG ) is rallying sharply after a double upgrade by Goldman Sachs to Buy from Sell. While the SolarEdge upgrade “is likely a bit early,” adding that the stock “represents a unique recovery story, in our view, that could be poised to benefit from a ‘shrink-to-grow’ strategy starting in 2025.” In other news of note, Ray-Bans have been sported by Holly Golightly, The Blues Brothers and Joel Goodsen, but with more plans from Meta ( META ) they may have their own personality. Meta said that it is updating the Ray-Ban Meta smart glasses with live AI video capability and real-time language translation. The company has started rolling out the v11 software update. Meta said that during a live AI session, Meta AI can see what a user is seeing continuously and converse with them more naturally. Users can get real-time, hands-free help and can ask questions without saying "Hey Meta," reference things they discussed earlier in the session. Users can also interrupt anytime to ask follow-up questions or change topics. Meta noted that eventually live AI will, at the right moment, give useful suggestions even before users ask. And in the Wall Street Research Corner, looking for stocks poised for a New Year bounce? Wolfe Research is out with a list of stocks that have had a tough 2024, but may get some juice from tax-loss selling as December wraps up. Chief Investment Strategist Chris Senyek says this trade typically starts mid-December and continues through the first few weeks of the next year. These stocks historically outperform by an average of about 250 basis points during the last two weeks of December through the end of January. Here’s a name from each sector:
Jaylon Johnson isn't interested in bright spots with the Bears' skid at 5 gamesRio Tinto-backed lithium tech startup set to raise second round of funds
Until Saturday Newsletter 🏈 | This is The Athletic ’s college football newsletter. Sign up here to receive Until Saturday directly in your inbox. The readers have spoken! Frosted Brown Sugar Cinnamon should be the third, mystery flavor at this year’s Pop-Tarts Bowl . Frosted Blueberry and Frosted Boston Creme Donut came in second and third. Now, we just count down the days until Dec. 28. Week 13 Schedule We’re one week away from an exciting slate of Black Friday college football games. But this week, there is one game involving a ranked team to keep an eye on (if you can stay awake). All times are ET: Here’s a heat map for every ranked matchup this Saturday. As always, the darker the highlight = the higher the intrigue (there’s a lot this week!). Noon Afternoon Night Click here for a full Week 13 schedule. Need tickets? Go here . Stream the games on Fubo for free . Quick Snaps When Wisconsin travels to Nebraska on Saturday (3:30 p.m., BTN), the teams will meet as 5-5 foes searching for bowl eligibility under second-year coaches who both fired their offensive coordinators this season. So, who would you rather be : Luke Fickell or Matt Rhule? Meanwhile, Penn State and Minnesota will play for the Governor’s Victory Bell this weekend, which could be one of the least-known rivalry trophies in college football (Nittany Lions QB Drew Allar can’t even remember the name). Advertisement Has the expanded CFP made more games “matter” down the stretch? Scott Dochterman investigates the biggest piece of criticism against the expanded field. Colorado two-way star and Heisman Trophy front-runner Travis Hunter will enter next year’s NFL Draft , he announced today . 📫 Love Until Saturday? Check out The Athletic ’s other newsletters . (Top photo Will Howard , right, and Quinshon Judkins : Scott Taetsch / Getty Images)
Back in September, I attended a lecture at the library given by Meg Daley Olmert, entitled “Sit, Stay, Heal.” Olmert is a writer who has worked on documentaries for Smithsonian World, National Geographic Explorer, and PBS, among others. In 1992 she was asked to join a research team studying the neurobiology of social bonding. Listening to Olmert speak, it became obvious that her work on that study changed her view of history; and I began to think it might change mine as well. So I picked up a copy of Olmert’s book on the subject, “Made for Each Other,” rushed home and devoured it. I have referred to Jared Diamond’s “Guns, Germs, and Steel” before in this column. That book’s thesis, that geography rather than racial superiority gave Western Civilization a leg-up on the rest of the world, is now the lens through which I view and understand the past. But if Diamond’s book posits geography as history’s fulcrum, Olmert’s work places an even less obvious entity at that pivot point: a simple molecule, oxytocin. Oxytocin is often referred to as the “love hormone.” All mammals produce it, and in all mammals it produces the same effects. When it’s time to give birth, oxytocin brings on labor. When it’s time to suckle our young, oxytocin brings on lactation. When animals groom one another — whether it’s a ewe licking her lamb or a man helping his wife with a zipper — oxytocin is released and all concerned feel a rush of goodwill. Oxytocin boosts trust, empathy, fidelity and nonverbal communication; it encourages and solidifies social bonding. All of this is well known, but what Olmert’s book makes clear is that these benefits are interspecific, that is: the effects are the same whether a woman is straightening her husband’s tie or removing a thorn from her cat’s paw. In both cases, their health improves and their bond is strengthened. For years it has been received wisdom among archaeologists that humans created their first permanent settlements around 10,000 years ago, with the advent of agriculture. But recent discoveries have pushed that date back to a point 15,000 years before people began cultivating crops. Why then? Well, it turns out that the earlier date dovetails nicely with humanity’s first successful domestication of a wild animal; the wolf became a dog, oxytocin was released, and the bond between man and man’s best friend was created. People could now go to sleep in the same place night after night secure in the knowledge that their dogs would alert them if a saber-toothed cat or an enemy band approached their settlement. If permanent settlement is the necessary first-step toward civilization, then we can thank Fido for Chartres Cathedral and the great pyramids. But before those piles could be erected, oxytocin still had more tasks to perform. When Homo sapiens first entered Europe, among the megafauna they encountered was a monster that stood six feet tall at the shoulder and sported eight-foot horns: the aurochs. When Caesar saw his first aurochs in Germany, he declared them too vicious to ever be tamed. The general would have been surprised to learn that the cattle marching placidly along in his army’s wake were, in fact, descendants of the first domesticated aurochs. But let’s think for a moment about how that animal’s vastly significant domestication first took place. Imagine the courage it took for some Neolithic man or woman to approach a wild aurochs, corral it and slip a rope over its neck. Olmert makes the case that this person, whoever they were, was the test pilot of their day, that their one small step toward an aurochs represented a greater leap in world history than Neil Armstrong’s. And it was successful, almost certainly, thanks to the oxytocin released in both man and beast. If oxytocin helped create the bonds between people and animals that made civilization possible (think horses, camels, sheep, dogs, cattle, pigs, etc.), then Olmert’s book closes with a cautionary note about what a deficit of oxytocin might mean for our modern world. Since the Industrial Revolution, people have been moving in ever greater numbers away from the animals that fueled civilization’s development. Today, so few Americans still live on the land that the Census Bureau no longer lists farming as a career category to be checked off. As we moved away from our farms and our farm animals, two particularly devastating mental disconnects blossomed among our children: autism and ADHD. Both conditions are characterized by low levels of oxytocin in the bloodstream. The severity of both has been found to be reduced by giving affected children the opportunity to care for a non-human animal. In a study performed in 1995, oxytocin was found to protect adults against the modern world’s leading cause of death. Among 369 victims of heart attack, dog ownership was found to be a better predictor of survival than regularity of heartbeat, absence of diabetes, or strength of the patient’s heart. One year after their coronary, 20 of the 369 patients studied had died — only one of the 20 owned a dog. Whether or not you think the world would be a better place if we all spent more time stroking Fido or milking Clarabelle, Meg Daley Olmert’s “Made for Each Other” will convince you there’s more to both than meets the eye. You can find “Made for Each Other” at that hallmark of civilization: our local library.None
A Northwest Territories Supreme Court judge has dismissed a challenge from the Gwich'in Tribal Council over the Gwichya Gwich'in Council's election results for president and directors in 2023. In that election, Mavis Clark was acclaimed as Gwichya Gwich'in Council president. The Gwich'in Tribal Council and six individual members of the Gwichya Gwich'in Council argued there were several "election irregularities" and "oppressive" conduct had taken place. The applicants alleged that Gwichya Gwich'in members weren't given adequate notice for the election, that the council imposed unlawful residency requirements on candidates for directors that required them to live in Tsiigehtchic for a period of at least one year, that Clark wasn't allowed to run under the council's election rules, and that the chief returning officer was biased in favour of Clark. All of that, the applicants argued, was grounds for a new election for president and directors and for a new chief returning officer to be appointed. Notices for the election were posted on the Tsiigehtchic Facebook page and in four places in the community, but the applicants argued that members without access to Facebook or who didn't live in the community didn't receive notice. N.W.T. Supreme Court Justice Sheila MacPherson rejected that argument, saying the elections policy states notice can be given on social media and there was no evidence of the council providing notice by mail for past elections. As for the residency requirement, MacPherson said it's up to the participants members to create a residency requirement. MacPherson also ruled Clark was eligible to run for president and that there was no evidence the chief returning officer was biased in her running of the 2023 election. Despite her ruling, MacPherson ordered all Gwichya Gwich'in Council financial statements from 2017 to 2023 be produced and made available to all members and to the Gwich'in Tribal Council within four months. "There is no evidence that financial statements have been provided to the members," MacPherson wrote. "In these circumstances, given that financial statements have not been provided to members for a number of years, I will make such an order." In a news release, the Gwich'in Tribal Council said it's reviewing the decision and is "considering its next steps." "The GTC maintains its commitment to upholding the values of democracy, transparency, and accountability within our governance systems. Our focus remains on continuing to advocate for the well-being and interests of the Gwich'in people," the release said. Clark declined an interview with CBC. The Gwichya Gwich'in Council said in a news release Monday that MacPherson's ruling brought "clarity and resolution." It said audited financial statements are available upon request to the Gwichya Gwich'in Council office. "This decision validates the integrity of our electoral process and allows us to focus on serving our members," Clark was quoted as saying in the news release.OTTAWA — Prime Minister Justin Trudeau said dealing with incoming president Donald Trump and his thundering on trade will be "a little more challenging" than the last time he was in the White House. Speaking at an event put on by the Halifax Chamber of Commerce, Trudeau said that's because Trump's team is coming in with a much clearer set of ideas of what they want to do right away than after his first election win in 2016. Even still, Trudeau said the answer is not to panic and said Canada can rally together to address the tough scenario the nation will face following Trump's inauguration in January. Trump has threatened 25 per cent tariffs against Canada and Mexico, if the two nations do not beef up their borders to his satisfaction. On the weekend, Trump appeared in an interview with NBC's "Meet the Press," where the president-elect said he can't guarantee the tariffs won't raise prices for U.S. consumers but that eventually tariffs will "make us rich." "All I want to do is I want to have a level, fast, but fair playing field," he said. Trudeau warned that steep tariffs could be "devastating for the Canadian economy" and cause "just horrific losses in all of our communities," and that Trump's approach is to introduce "a bit of chaos" to destabilize his negotiating partners. But he also said that Canada exports a range of goods to the U.S., from steel and aluminum to crude oil and agricultural commodities, all of which would get more expensive and mean real hardship for Americans at the same time. "For years, Americans have been paying more for their homes than they should because of unjust tariffs on softwood lumber. Maybe this level of tariffs will actually have them realize that this is something they are doing to themselves," Trudeau said. "Trump got elected on a commitment to make life better and more affordable for Americans, and I think people south of the border are beginning to wake up to the real reality that tariffs on everything from Canada would make life a lot more expensive." Experts, including Canada's former top trade negotiator Steve Verheul, have warned the country needs to be ready to respond if Trump goes through with his tariff threats. The prime minister said his government is still mulling over "the right ways" to respond, referencing Canada's calculated approach when Trump hit Canada with steel and aluminum tariffs. "It was the fact that we put tariffs on bourbon and Harley-Davidsons and playing cards and Heinz ketchup and cherries and a number of other things that were very carefully targeted because they were politically impactful to the president's party and colleagues," he said. That's how Canada was able to "punch back in a way that was actually felt by Americans," he added. Trudeau also said the country needs to rally together and work past its political differences. He offered up some rare words of praise for Saskatchewan Premier Scott Moe — a frequent political thorn in his side and "no big fan of mine" — as one of Canada's strongest voices during that tumultuous time period when NAFTA was under threat. "His voice with governors down south, his making the case for Canadian workers and Canadian trade in a way that complemented the arguments that we were making, did a better job of showing what Canadian unity was and (what) Canada's negotiating position could be to a United States that has a political system that is incredibly fractured and fractious," Trudeau said. On Sunday, Conservative Leader Pierre Poilievre said "every single Conservative would tell every single American" that tariffs on Canada would be a bad idea — and also took time to bill Trudeau as a weak leader. One member of his caucus, Conservative MP Jamil Jivani, said he had dinner with incoming vice-president JD Vance and British Conservative Leader Kemi Badenoch over the weekend in Arlington, Va. He said it's crucial right now to be building "strong relationships with our allies." This report by The Canadian Press was first published Dec. 9, 2024. — With files from The Associated Press, Kelly Geraldine Malone and Rosa Saba in Toronto Kyle Duggan, The Canadian Press
( MENAFN - EIN Presswire) SAN DIEGO, CA, UNITED STATES, December 28, 2024 /EINPresswire / -- TechCon SoCal is pleased to announce its highly anticipated TechCon SoCal 2025 conference , scheduled to take place on January 17-18, 2025, in San Diego. The event promises to bring together top-tier investors, CXOs, entrepreneurs, and technology professionals for two days of insightful discussions, networking opportunities, and innovative showcases. At its core, TechCon SoCal 2025 will feature a dynamic multi-track format designed to foster collaboration and inspire innovation in areas from AI, SaaS, Digital Health, Fintech, Deeptech, and more. Attendees can connect with industry leaders and experts who will share their perspectives on emerging technologies, strategic investments, and entrepreneurial success. Esteemed speakers from leading companies will provide actionable insights into the future of technology and business. The conference will also host its signature Startup Innovation Showcase, highlighting groundbreaking ideas from emerging companies. This showcase offers entrepreneurs a platform to present their pitches to a panel of investors and industry leaders, enabling them to gain exposure and secure funding. The event reflects TechCon SoCal's core mission to nurture entrepreneurship and support the next generation of innovators. TechCon SoCal 2025 is supported by a distinguished group of sponsors dedicated to empowering the tech ecosystem. Title sponsor Mintz, known for its expertise in various legal areas, returns to provide essential insights on financing and scaling businesses. Jeremy Glaser, Co-chair of the Venture Capital & Emerging Companies Practice at Mintz, expressed his enthusiasm for the partnership, stating: "Mintz is excited to return as the title sponsor of TechCon SoCal! We look forward to joining forces once again and empowering the tech community with essential insights on financing and growing their businesses." Gold sponsor Daversa Partners, renowned for building the leadership teams of growth-stage and venture-backed companies, also joins the lineup. Nicole Daversa remarked,“Daversa Partners couldn't be more excited to partner with TechCon SoCal because we believe in the unparalleled importance of this ecosystem. Southern California is a major player in shaping the future of innovation, and the talent speaking and gathering at this event is driving advancements across AI, defense, frontier, life sciences, robotics, and beyond. TechCon SoCal is pivotal for sparking transformative ideas and building the connections that propel technology and investment forward.” Other sponsors include: .John G Watson Foundation, dedicated to nurturing the next generation of entrepreneurs in San Diego. .San Diego State University, a leading public research university with renowned entrepreneurship programs and innovative research labs shaping the current landscape of AI, biotech, and sustainability solutions. .Citizens Private Bank, experts in integrated wealth management and financial solutions. .Blackstraw AI, innovators in simplifying AI-driven solutions for businesses. .Terralogic, leaders in digital transformation and technology design services. .BitCot, specialists in AI, application development, and workflow automation. .University of California, San Diego, leading public research university renowned for its cutting-edge research, innovative programs. Additionally, the conference will showcase prominent speakers, including Joe Kiani Founder Masimo, Jay Srinivasan CEO Truvian, Osman Kibar Executive Chairman Biosplice Therapeutics, Pooja Pathak VP & GM GE Healthcare, Dr. Chenxi Wang, Founder & General Partner of Rain Capital, Amir Khan CEO Alkira, Jessie Draper, Founding Partner of Halogen Ventures, Allen Taylor, Managing Partner Endeavor Catalyst, Houman Haghighi, Partner Menlo Ventures, Samir Kumar General Partner Touring Capital, Raj Kapoor Managing Partner Climactic, and more For more information, or to purchase tickets, please visit . About TechCon SoCal TechCon SoCal is an annual innovation and investment conference dedicated to fostering collaboration among industry leaders, investors, entrepreneurs, and technology professionals. With a mission to inspire innovation, catalyze investments, and nurture entrepreneurship, TechCon SoCal provides a dynamic platform for driving technological advancements and strategic growth. Founded by Faisal Mushtaq, whose extensive experience includes scaling Fortune 500 companies and leading startups to successful exits, TechCon SoCal is designed to connect visionaries and decision-makers. The conference stands out for its multi-track format, high-caliber speakers, and focus on quality over quantity, creating a unique environment for impactful discussions and partnerships. Through strategic partnerships, mentorship opportunities, and targeted initiatives, TechCon SoCal is committed to fostering an ecosystem where bold ideas are embraced, and transformative technologies thrive. Faisal Mushtaq TechCon SoCal +1 408-223-2795 ... Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above. MENAFN28122024003118003196ID1109038213 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
TORONTO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Quisitive Technology Solutions Inc. (“Quisitive” or the “Company”) (TSXV: QUIS, OTCQX: QUISF), a premier Microsoft Cloud and AI solutions provider, today reported financial results for the third quarter ended September 30, 2024. Management Commentary “Our Cloud business maintained stability as we experienced modest sequential growth and saw an expanding pipeline of AI-driven customer engagements,” said Quisitive CEO Mike Reinhart. “The hiring process of specialized staff from Microsoft’s investment in our Blackbelt Team has been completed and will enhance our ability to further establish a strong pipeline of customer opportunities. We have also developed new IP for our AI Innovation Center, designed for customers in the Azure environment to accelerate their AI use case testing and to facilitate successful custom AI deployments. Looking ahead to the new year, we remain committed to further investing in our sales engine in alignment with Microsoft, with early 2025 positioned as a key momentum-building phase to drive growth in the latter part of the year.” Third Quarter 2024 Financial Results The Company’s condensed consolidated interim financial statements for the three and nine months ended September 30, 2024 and related management’s discussion and analysis will be posted on the Company’s website and on the Company’s issuer profile on SEDAR+ at www.sedarplus.com on November 25, 2024 subject to completion of the interim review by the Company's external auditors. All figures are expressed in United States dollars unless otherwise stated. Financial highlights include: Revenue from continuing operations sequentially improved to $30.7 million compared to $29.6 million for the second quarter ended June 30, 2024. Results improved slightly when compared to $30.68 million for the third quarter ended September 30, 2023. Gross profit from continuing operations as a percentage of revenue sequentially improved to 42.9% compared to 42.1% for the second quarter ended June 30, 2024. Results remained steady and relatively unchanged when compared to 42.9% for the third quarter ended September 30, 2023. Gross profit from continuing operations sequentially improved to $13.2 million compared to $12.5 million for the second quarter ended June 30, 2024. Results remained steady when compared to $13.2 million for the third quarter ended September 30, 2023. Adjusted EBITDA from continuing operations sequentially improved to $4.2 million compared to $3.9 million for the second quarter ended June 30, 2024. Results decreased when compared to $4.9 million for the third quarter ended September 30, 2023. The Company’s total senior debt to Adjusted EBITDA ratio was approximately 1.9:1.0 on a pro forma basis at September 30, 2024. Third Quarter 2024 and Recent Operational Highlights Successfully completed the hiring process of specialized roles within Quisitive’s AI Blackbelt Team through Microsoft’s AI program investment. Development of AI Innovation Center, an IP platform for AI readiness designed for customers operating in the Azure environment. Sponsored Microsoft’s SMC Sales and Tech Summit event. Officially awarded 2024 Microsoft Analytics Partner of the Year at Microsoft Ignite. Fiscal Year 2024 Guidance Quisitive is providing the following guidance for fiscal year 2024: Conference Call Quisitive management will hold a conference call today (November 25, 2024) at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss these results. Company CEO Mike Reinhart and CFO Scott Meriwether will host the call, followed by a question-and-answer period. Toll Free dial-in: 1-877-704-4453 International dial-in: 1-201-389-0920 Webcast Link: Here Please call the conference telephone number 10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 949-574-3860. A telephonic replay of the conference call will be available after 8:00 p.m. Eastern time today and will expire after Monday, December 9, 2024. Toll-free replay number: 1-844-512-2921 International replay number: 1-412-317-6671 Replay ID: 13750196 For additional information, please visit the Investor Relations section of Quisitive’s website at: https://quisitive.com/investor-relations/ . The following tables summarize results for the three and nine months ended September 30, 2024 and 2023: About Quisitive: Quisitive (TSXV: QUIS, OTCQX: QUISF) is a premier, global Microsoft partner leveraging the power of the Microsoft cloud platform and artificial intelligence, alongside custom and proprietary technologies, to drive transformative outcomes for its customers. The Company focuses on helping enterprises across industries leverage the Microsoft platform to adopt, innovate, and thrive in the era of AI. For more information, visit www.Quisitive.com and follow @BeQuisitive. Quisitive Investor Contact Matt Glover and John Yi Gateway Group QUIS@gateway-grp.com 949-574-3860 Tami Anders Chief of Staff tami.anders@quisitive.com 972.573.0995 Reconciliation of Non-GAAP Financial Measures - Adjusted EBITDA Financial Measures and Adjusted EBITDA There are measures included in this news release that do not have a standardized meaning under generally accepted accounting principles (GAAP) and therefore may not be comparable to similarly titled measures and metrics presented by other publicly traded companies. The Company includes these measures because it believes certain investors use these measures and metrics as a means of assessing financial performance. EBITDA (earnings before interest, taxes, depreciation and amortization is calculated as net earnings before finance costs (net of finance income), income tax expense, and depreciation and amortization of intangibles) is a non-GAAP financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with IFRS. We also disclose and discuss certain non-GAAP financial information, used to evaluate our performance, in this and other earnings releases and investor conference calls as a complement to results provided in accordance with IFRS. We believe that current shareholders and potential investors in the Company use non-GAAP financial measures, such as Adjusted EBITDA, in making investment decisions about the Company and measuring our operational results. The term "Adjusted EBITDA" refers to a financial measure that we define as earnings before certain charges that management considers to be non-operating expenses and which consist of interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes), changes in fair value of derivatives, transaction and acquisition-related expenses, US payroll protection plan loan forgiveness, and earn-out settlement losses. Management considers these non-operating expenses to be outside the scope of Quisitive' ongoing operations and the related expenses are not used by management to measure operations. Accordingly, these expenses are excluded from Adjusted EBITDA, which we reference to both measure our operations and as a basis of comparison of our operations from period-to-period. Management believes that investors and financial analysts measure our business on the same basis, and we are providing the Adjusted EBITDA financial metric to assist in this evaluation and to provide a higher level of transparency into how we measure our own business. However, Adjusted EBITDA is a non-GAAP financial measure and may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA should not be construed as a substitute for net income determined in accordance with IFRS or other non-GAAP measures that may be used by other companies, such as EBITDA. The use of Adjusted EBITDA does have limitations as, some investors may consider these charges and expenses as a recurring part of operations rather than expenses that are not part of operations. Cautionary Note Regarding Forward Looking Information This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation regarding Quisitive and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to: the future growth potential of the Company and its cloud solutions business and AI offerings; the financial outlook of the Company, including growth projections, capital allocation and cost savings; potential for growth and expectations regarding the Company’s ability to capitalize on the expanding opportunities emerging from AI advancements. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; the ability to realize on cost saving measures; the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the technology industry; unproven markets for the Company’s product offerings; lack of regulation and customer protection; the need for the Company to manage its future strategic plans; the effects of product development and need for continued technology change; protection of proprietary rights; network security risks; the ability of the Company to maintain properly working systems; foreign currency trading risks; use and storage of personal information and compliance with privacy laws; use of the Company’s services for improper or illegal purposes; global economic and financial market conditions; uninsurable risks; changes in project parameters as plans continue to be evaluated; and those factors described under the heading "Risks Factors" in the Company's annual information form dated May 23, 2023 available on SEDAR+ at www.sedarplus.ca. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law. Neither the TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SHANGHAI , Dec. 17, 2024 /PRNewswire/ -- Sentage Holdings Inc. (the "Company", "we", "our") (Nasdaq: SNTG ), is a holding company incorporated in the Cayman Islands with no material operations of its own. Through its China -based operating entities, the Company offers consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China . The Company today announced its financial results for the first six months of fiscal year 2024 ended June 30, 2024 . The following summarizes such financial results. Financial Highlights for the First Six Months of Fiscal Year 2024 Total operating revenue was $nil in the six months ended June 30, 2024 , compared with $82 for the same period of last year, representing a 100% decrease. The reason for the decrease in revenue was that the Company's existing business had declined while the Company attempting to enter into new businesses. the company has been adjusting and improving its products and services to enhance its competitiveness. These improvements require more time to be completed. Net loss was $1.12 million in the six months ended June 30, 2024 , compared with net loss of $1.08 million for the same period of last year. Basic and diluted loss per share was $0.47 in the six months ended June 30, 2024 , compared with basic and diluted loss per share of $0.46 for the same period of last year. Financial Results for the First Six Months of Fiscal Year 2024 Operating Expenses Selling, general and administrative expenses increased by $43,366 , or 4%, to $1,123,711 in the six months ended June 30, 2024 , from $1,080,345 for the same period of last year. The increase was due to the following reasons: Professionals consulting expenses increased by $122,525 or 30% to $ 534,675 in the six months ended June 30, 2024 , from $412,151 for the same period of last year. The increase was primarily due to the company paying more for consulting services to third party professionals. Provision for Income Taxes Provision for income taxes was nil for the six months ended 30 June 2024 , compared with nil for the same period last year. Net Loss Net loss was $1.12 million in the six months ended June 30, 2024 , compared with net loss of $1.08 million for the same period of last year. Loss Per Share Basic and diluted loss per share was $0.47 in the six months ended June 30, 2024 , compared with basic and diluted loss per share of $0.46 for the same period of last year. Cash and Cash Equivalents As of June 30, 2024 , the Company had cash and restricted cash of $1.61million , compared with $2.26 million as of December 31, 2023 . Cash Flow Net cash used in operating activities was $1.09 million , compared with Net cash used in operating activities of $1.01 million for the same period of last year. Net cash used in investing activities was $nil, compared with Net cash used in investing activities of $537 , for the same period of last year. Net cash provided by/ (used in) financing activity was $0.43 million , compared with Net cash used in financing activity of $(4,709) for the same period of last year. About Sentage Holdings Inc. Sentage Holdings Inc., headquartered in Shanghai, China , is a holding company incorporated in the Cayman Islands with no material operations of its own (the "Company"). Through its China -based operating entities, the Company offers consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China . Leveraging the Company's deep understanding of its client base, strategic partner relationships, and proprietary valuation models and technologies, the Company is committed to working with its clients to understand their financial needs and challenges and offering customized services to help them meet their respective objectives. For more information, please visit the company's website at ir.sentageholdings.com. Forward-Looking Statement Certain statements in this announcement 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 and encourages investors to review risk factors that may affect its future results in the Company's registration statement. For more information, please contact: Sentage Holdings Inc. Investor Relations Department Email: [email protected] Ascent Investor Relations LLC Tina Xiao President Tel: +1-646-932-7242 Email: [email protected] SOURCE Sentage Holdings Inc.None
A judge on Monday rejected a request to block a San Jose State women's volleyball team member from playing in a conference tournament on grounds that she is transgender. The ruling by U.S. Magistrate Judge S. Kato Crews in Denver will allow the player, who has played all season, to compete in the Mountain West Conference women's championship opening this week in Las Vegas. The ruling comes in a lawsuit filed by nine current players against the Mountain West Conference challenging the league's policies for allowing transgender players to participate. The players argued that letting her compete was a safety risk and unfair. While some media have reported those and other details, neither San Jose State nor the forfeiting teams have confirmed the school has a trans woman volleyball player. The Associated Press is withholding the player's name because she has not commented publicly on her gender identity. School officials also have declined an interview request with the player. Crews' ruling referred to the athlete as an "alleged transgender" player and noted that no defendant disputed that the San Jose State roster includes a transgender woman player. San Jose State will "continue to support its student-athletes and reject discrimination in all forms," the university said in a statement, confirming that all its student-athletes are eligible to participate under NCAA and conference rules. "We are gratified that the Court rejected an eleventh-hour attempt to change those rules. Our team looks forward to competing in the Mountain West volleyball tournament this week." The conference did not immediately respond to an email seeking comment. The players filed a notice for emergency appeal with the 10th U.S. Circuit Court of Appeals. Crews said the players who filed the complaint could have sought relief much earlier, noting the individual universities had acknowledged that not playing their games against San Jose State this season would result in a loss in league standings. He also refused a request to re-seed the tournament without the forfeited losses. The judge said injunctions are meant to preserve the status quo. The conference policy regarding forfeiting for refusing to play against a team with a transgender player had been in effect since 2022 and the San Jose State player has been on the roster since 2022 — making that the status quo. The player competed at the college level three previous seasons, including two for San Jose State, drawing little attention. This season's awareness of her reported identity led to an uproar among some players, pundits, parents and politicians in a major election year. Crews' ruling also said injunctions are meant to prevent harm, but in this case, he argued, the harm has already occurred. The games have been forfeited, the tournament has been seeded, the teams have made travel plans and the participants have confirmed they're playing. The tournament starts Wednesday and continues Friday and Saturday. Colorado State is seeded first and San Jose State, second. The teams split their regular-season matches and both get byes into Friday's semifinals. San Jose State will play the winner of Wednesday's match between Utah State and Boise State — teams that both forfeited matches to SJSU during the regular season. The conference tournament winner gets an automatic bid to the NCAA tournament. San Jose State coach Todd Kress, whose team has not competed in the national tournament since 2001, has said his team has been getting "messages of hate" and that has taken a toll on his players. Several teams refused to play against San Jose State during the season, earning losses in the official conference standings. Boise State and Wyoming each had two forfeits while Utah State and Nevada both had one. Southern Utah, a member of the Western Athletic Conference, was first to cancel against San Jose State this year. Nevada's players stated they "refuse to participate in any match that advances injustice against female athletes," without elaborating. Nevada did not qualify for the conference tournament. The nine current players and others now suing the Mountain West Conference, the California State University Board of Trustees and others include San Jose State senior setter and co-captain Brooke Slusser. The teammate Slusser says is transgender hits the volleyball with more force than others on the team, raising fear during practices of suffering concussions from a head hit, the complaint says. The Independent Council on Women's Sports is funding a separate lawsuit against the NCAA for allowing transgender women to compete in women's sports. Both lawsuits claim the landmark 1972 federal antidiscrimination law known as Title IX prohibits transgender women in women's sports. Title IX prohibits sexual discrimination in federally funded education; Slusser is a plaintiff in both lawsuits. Several circuit courts have used a U.S. Supreme Court ruling to conclude that discriminating against someone based on their transgender status or sexual orientation is sex-based discrimination, Crews wrote. That means case law does not prove the "likelihood of success" needed to grant an injunction. An NCAA policy that subjects transgender participation to the rules of sports governing bodies took effect this academic year. USA Volleyball says a trans woman must suppress testosterone for 12 months before competing. The NCAA has not flagged any issues with San Jose State. The Republican governors of Idaho, Nevada, Utah and Wyoming have made public statements in support of the team cancellations, citing fairness in women's sports. President-elect Donald Trump likewise has spoken out against allowing transgender women to compete in women's sports. Crews was a magistrate judge in Colorado's U.S. District Court for more than five years before President Joe Biden appointed him as a federal judge in January. Get local news delivered to your inbox!Woodward Earnings Report: Q4 OverviewJets Take Important Step Towards Prosperity In Latest Consultant Hires
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