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SELLAS Life Sciences Reports First Quarter 2021 Financial Results and Provides Business Update

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Received $1.0 Million Milestone Payment and Recognized $5.7 Million of License Revenue Under Exclusive License Agreement with 3D Medicines for Development and Commercialization of Galinpepimut-S (GPS) in Greater China

National Ethics Committee Approval for GPS Phase 3 REGAL Study Received in Greece

Preparations Underway to Activate Clinical Trial Sites and Enroll Patients in the REGAL Study in France, Germany and Greece by End of Second Quarter 2021

NEW YORK, May 13, 2021 (GLOBE NEWSWIRE) — SELLAS Life Sciences Group, Inc. (Nasdaq: SLS) (“SELLAS” or the “Company”), a late-stage clinical biopharmaceutical company focused on developing novel cancer immunotherapies for a broad range of indications, today reported its financial results for the quarter ended March 31, 2021 and provided a business update.

“Under our exclusive license agreement with 3D Medicines for the development and commercialization of galinpepimut-S (GPS) in Greater China, we advanced the technology transfer to 3D Medicines during the first quarter of 2021. In February, our progress triggered a milestone payment of $1.0 million. This achieved milestone is the first of milestone payments that have the potential to total $194.5 million over the life of the agreement. In addition to the $1.0 million payment, we further strengthened our balance sheet during the first quarter with approximately $3.0 million in net proceeds from warrant exercises,” said Angelos Stergiou, MD, ScD. h.c., President and Chief Executive Officer of SELLAS. “During the quarter, we continued to progress our GPS clinical program with the activation of additional clinical sites in the United States, and also preparations for opening clinical sites and enrolling patients in European countries, for our Phase 3 REGAL study of GPS in patients with acute myeloid leukemia (AML). Screening and enrollment of patients for the REGAL study is ongoing in the United States.”

Pipeline Updates:

Galinpepimut-S (GPS)

  • During the first quarter of 2021, SELLAS triggered and received a milestone payment in the amount of $1.0 million related to the completion of a technology transfer plan under its license agreement with 3D Medicines.
  • In April 2021, the Company received National Ethics Committee approval in Greece for the Phase 3 REGAL study in patients with AML. The Company expects to activate sites and begin enrolling patients in France, Germany and Greece by the end of the second quarter of 2021.

Nelipepimut-S (NPS)

  • In January 2021, the data safety monitoring board for the ongoing investigator sponsored study of NPS plus trastuzumab in high risk HER2 3+ breast cancer patients recommended that, given the small size of the study and in order to preserve the statistical power of the study, the primary analysis of the study be completed upon the completion of three years of follow-up on every patient or until more events are collected. The Company expects the primary analysis in this study to be completed by the end of 2021.
  • In February 2021, the subgroup analysis of the cohort of patients with triple negative breast cancer (TNBC) from the Phase 2b investigator-sponsored study of NPS plus trastuzumab in HER2 low-expressing breast cancer patients was published in the peer-reviewed journal Clinical Immunology. As previously reported, the subset analysis identified significant improvement in 36-month disease-free survival between NPS (n=55) and placebo (n=44) in TNBC.

Corporate Highlights for the First Quarter 2021:

  • The Company received approximately $3.0 million in net proceeds from the exercise of common stock warrants.

Financial Results for the First Quarter 2021:

Licensing revenue: During the first quarter of 2021 the Company recorded $5.7 million of licensing revenue which consists of the recognition of revenue from the upfront license fee received from 3D Medicines in 2020 and the milestone payment received in the first quarter of 2021 from the achievement of a milestone under the Company’s license agreement with 3D Medicines. The Company did not record any licensing revenue for the first quarter of 2020.

R&D Expenses: Research and development expenses for the first quarter of 2021 were $4.3 million, as compared to $1.9 million for the first quarter of 2020. The increase was primarily due to a ramp up of the manufacture of clinical trial materials and registration batches of GPS, a technology transfer to a new contract manufacturer, and clinical drug supply purchase costs in the European Union in preparation for opening sites and enrolling patients in European Union countries.

G&A Expenses: General and administrative expenses for the first quarter of 2021 were $3.6 million, as compared to $2.2 million for the first quarter of 2020. The increase was primarily due to amortization expense associated with the capitalized contract acquisition costs of the 3D Medicines license agreement as well as an increase in legal fees.

Net Loss: Net loss attributable to common stockholders was $2.4 million for the first quarter of 2021, or a basic and diluted loss per share attributable to common stockholders of $0.16, as compared to a net loss attributable to common stockholders of $4.2 million for the first quarter of 2020, or a basic and diluted loss per share attributable to common stockholders of $0.66.

Cash Position: As of March 31, 2021, cash and cash equivalents totaled approximately $28 million.

About SELLAS Life Sciences Group, Inc.

SELLAS is a late-stage clinical biopharmaceutical company focused on developing novel cancer immunotherapeutics for a broad range of indications. SELLAS’ lead product candidate, GPS, is licensed from Memorial Sloan Kettering Cancer Center and targets the WT1 protein, which is present in an array of tumor types. GPS has potential both as a monotherapy and in combination to address a broad spectrum of hematologic malignancies and solid tumor indications. SELLAS’ second product candidate, NPS, is a HER2-directed cancer immunotherapy with potential to treat patients with early-stage breast cancer with low to intermediate HER2 expression, otherwise known as HER2 1+ or 2+, which includes TNBC patients, following the standard of care.

For more information on SELLAS, please visit www.sellaslifesciences.com.

Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts are “forward-looking statements,” including those relating to future events. In some cases, forward-looking statements can be identified by terminology such as “plan,” “expect,” “anticipate,” “may,” “might,” “will,” “should,” “project,” “believe,” “estimate,” “predict,” “potential,” “intend,” or “continue” and other words or terms of similar meaning. These statements include, without limitation, statements related to the clinical development of GPS for various cancer indications, the potential for regulatory approval and commercialization of GPS, the potential for additional milestone payments under license agreement, and the clinical development of NPS for breast cancer. These forward-looking statements are based on current plans, objectives, estimates, expectations and intentions, and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties associated with the COVID-19 pandemic and its impact on the Company’s clinical plans, risks and uncertainties associated with immune-oncology product development and clinical success thereof, the uncertainty of regulatory approval, and other risks and uncertainties affecting SELLAS and its development programs as set forth under the caption “Risk Factors” in SELLAS’ Annual Report on Form 10-K filed on March 23, 2021 and in its other SEC filings. Other risks and uncertainties of which SELLAS is not currently aware may also affect SELLAS’ forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements herein are made only as of the date hereof. SELLAS undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made.

For more information, please contact:

Investor Contacts
Valter Pinto / Allison Soss
KCSA Strategic Communications
Email: SELLAS@kcsa.com
Phone: 914.907.2675 / 215.272.2707

Media Contacts
Caitlin Kasunich / Raquel Cona
KCSA Strategic Communications
Email: SELLAS@kcsa.com
Phone: 212.896.1241 / 212.896.1276

SELLAS LIFE SCIENCES GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except share and per share data)
(Unaudited)

 Three Months Ended March 31,
 2021 2020
Licensing revenue$5,700   $—  
Operating expenses:   
Cost of licensing revenue100   —  
Research and development4,284   1,864  
General and administrative3,561   2,200  
Total operating expenses7,945   4,064  
Operating loss(2,245)  (4,064) 
Non-operating income (expense), net:   
Change in fair value of warrant liability(31)  35  
Change in fair value of contingent consideration(129)  (138) 
Interest income, net2   24  
Total non-operating income (expense), net(158)  (79) 
Net loss(2,403)  (4,143) 
Deemed dividend arising from warrant modifications—   (78) 
Net loss attributable to common stockholders$(2,403)  $(4,221) 
    
Per share information:   
Net loss per common share attributable to common stockholders, basic and diluted$(0.16)  $(0.66) 
Weighted-average common shares outstanding, basic and diluted14,877,317   6,374,979  

SELLAS LIFE SCIENCES GROUP, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share and per share data)
(Unaudited)

 March 31, 2021 December 31, 2020
ASSETS   
Current assets:   
Cash and cash equivalents$28,033   $35,302  
Restricted cash and cash equivalents100   100  
Contract asset282   1,128  
Prepaid expenses and other current assets3,016   395  
Total current assets31,431   36,925  
Operating lease right-of-use asset854   896  
In-process research and development5,700   5,700  
Goodwill1,914   1,914  
Deposits and other assets676   614  
Total assets$40,575   $46,049  
LIABILITIES AND STOCKHOLDERS’ EQUITY   
Current liabilities:   
Accounts payable$2,350   $4,657  
Accrued expense and other current liabilities2,547   1,913  
Operating lease liability174   166  
Deferred revenue900   5,600  
Total current liabilities5,971   12,336  
Operating lease liability, non-current775   825  
Deferred tax liability239   239  
Warrant liability86   55  
Contingent consideration4,762   4,633  
Total liabilities11,833   18,088  
Stockholders’ equity:   
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; Series A convertible preferred stock, 17,500 shares designated; no shares issued and outstanding at March 31, 2021 and December 31, 2020—   —  
Common stock, $0.0001 par value; 350,000,000 shares authorized, 15,084,754 and 14,254,554 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively.2   1  
Additional paid-in capital149,047   145,864  
Accumulated deficit(120,307)  (117,904) 
Total stockholders’ equity28,742   27,961  
Total liabilities and stockholders’ equity$40,575   $46,049  

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229551/0/en/SELLAS-Life-Sciences-Reports-First-Quarter-2021-Financial-Results-and-Provides-Business-Update.html

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Carriage Services Announces Closing of Senior Notes Offering and Entry into Amended and Restated Senior Secured Revolving Credit Facility

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HOUSTON, Texas, May 13, 2021 (GLOBE NEWSWIRE) — Carriage Services, Inc. (NYSE: CSV) (“Carriage Services” or the “Company”) today announced that it closed its private offering of $400 million aggregate principal amount of 4.25% senior notes due 2029 (the “2029 Notes”).

The Company used the net proceeds from the sale of the 2029 Notes, together with cash on hand and borrowings under the amended and restated credit facility, to satisfy and discharge the indenture with respect to its 6.625% senior notes due 2026 (the “2026 Notes”). The 2026 Notes are scheduled to be redeemed on June 1, 2021. This press release does not constitute a notice of redemption with respect to the 2026 Notes.

The 2029 Notes are unsecured, senior obligations of the Company, and interest is payable semi-annually in arrears. The 2029 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, jointly and severally by each of the Company’s subsidiaries that is a borrower, or guarantees indebtedness, under the Company’s amended and restated credit facility.

In connection with the closing of the 2029 Notes offering, the Company also entered into an amended and restated senior secured revolving credit facility with commitments of $150 million in order to provide ongoing working capital and for general corporate purposes. At closing, approximately $58.8 million of borrowings were outstanding under the amended and restated facility with approximately $89.1 million available for additional borrowings after giving effect to $2.1 million of outstanding letters of credit.

The 2029 Notes were offered in a private offering only to persons who are reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to certain persons outside of the United States pursuant to Regulation S, each under the Securities Act of 1933, as amended (the “Act”). Neither the 2029 Notes nor the related guarantees have been, nor will be, registered under the Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Carriage Services

Carriage Services is a leading provider of funeral and cemetery services and merchandise in the United States. Carriage operates 173 funeral homes in 26 states and 32 cemeteries in 12 states.

Certain statements made herein or elsewhere by, or on behalf of, the Company that are not historical facts are intended to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions that the Company believes are reasonable; however, many important factors, as discussed under “Cautionary Note” and “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and under “Cautionary Statement on Forward-Looking Statements” and “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, could cause the Company’s results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by, or on behalf of, the Company. The Company assumes no obligation to update or publicly release any revisions to forward-looking statements made herein or any other forward-looking statements made by, or on behalf of, the Company.

Source: Carriage Services, Inc.

 

For more information, please contact Ben Brink at 713-332-8441 or email InvestorRelations@carriageservices.com.

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229550/0/en/Carriage-Services-Announces-Closing-of-Senior-Notes-Offering-and-Entry-into-Amended-and-Restated-Senior-Secured-Revolving-Credit-Facility.html

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GreenBox POS Announces Board Approval of Share Buyback Program

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SAN DIEGO, CA, May 13, 2021 (GLOBE NEWSWIRE) — GreenBox POS (NASDAQ: GBOX) (“GreenBox” or the “Company”), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions today announced the Board of Directors has approved a share buyback program. Under the program, share buybacks may be made from time-to-time in the open market and negotiated purchases. Each buyback round will require additional Board consent. The Company has opened and prefunded a brokerage account.

GreenBox Chairman Ben Errez commented, “We believe the current market value of our shares does not accurately reflect the value of the Company and opportunities in front of us. We see a share buyback program as an attractive method to deploy capital in a manner beneficial to shareholders and will look to make selective purchases moving forward.”

These buybacks will be made in compliance with the SEC’s Rule 10b-18, subject to market conditions, available liquidity, cash flow, applicable legal requirements and other factors. The specific prices, numbers of shares and timing of purchase transactions will be determined by the Company from time to time in its sole discretion. This program does not obligate the Company to acquire any particular amount of common stock and the program may be suspended or discontinued at any time, including in the event the Company would be deemed to be making an acquisition of its own shares under Rule 13e-3 of the Securities Exchange Act of 1934, as amended.

The Company expects to finance the purchases with existing cash balances, which is not expected to have a material impact on capital levels.

GreenBox had approximately 41.1 million shares outstanding as of May 6, 2021.

About GreenBox POS

GreenBox POS (NASDAQ: GBOX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company’s applications enable an end-to-end suite of turnkey financial products, reducing fraud and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company’s website at www.greenboxpos.com.

Forward-Looking Statements Disclaimer

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Investor Relations Contact
Mark Schwalenberg
MZ Group – MZ North America
312-261-6430
GBOX@mzgroup.us
www.mzgroup.us

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229546/0/en/GreenBox-POS-Announces-Board-Approval-of-Share-Buyback-Program.html

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PFSweb to Present at Upcoming Investor Conferences

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ALLEN, Texas, May 13, 2021 (GLOBE NEWSWIRE) — PFSweb, Inc. (NASDAQ: PFSW), a global commerce services company, is attending the following financial investor conferences in May and June 2021:

Needham Virtual Technology & Media Conference
Presentation: Wednesday, May 19th at 3:00 p.m. ET
Webcast: https://wsw.com/webcast/needham108/pfsw/2281568

Craig-Hallum Institutional Investor Conference
Attending: Wednesday, June 2nd
Where: Virtual 1×1 meeting format (no presentations)

For more information about the conferences or to schedule a 1-on-1 meeting with PFSweb management, please contact your respective conference representative or call the company’s investor relations team at 1-949-574-3860.

About PFSweb, Inc.
PFSweb (NASDAQ: PFSW) is a global commerce services company that manages the online customer shopping experience on behalf of major branded manufacturers and retailers. Across two business units – LiveArea for data-driven marketing and omnichannel experience design through technology selection, platform implementation and orchestrated services, and PFS for order fulfillment, contact center, payment processing/fraud management, and order management services – they provide solutions to a broad range of Fortune 500® companies and household brand names such as Procter & Gamble, L’Oréal USA, Champion, Pandora, Ralph Lauren, Shiseido Americas, the United States Mint, and many more. PFSweb enables these brands to provide a more convenient and brand-centric online shopping experience through both traditional and online business channels. The company is headquartered in Allen, TX with additional locations around the globe. For more information, visit www.pfsweb.com.

Investor Relations:
Cody Slach and Jackie Keshner
Gateway Investor Relations
1-949-574-3860
PFSW@gatewayir.com

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229545/0/en/PFSweb-to-Present-at-Upcoming-Investor-Conferences.html

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Lexicon Pharmaceuticals Announces Two Presentations at the American College of Cardiology’s 70th Annual Scientific Session

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THE WOODLANDS, Texas, May 13, 2021 (GLOBE NEWSWIRE) — Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX), announced today there will be two virtual presentations highlighting sotagliflozin during the American College of Cardiology’s 70th Annual Scientific Session (ACC.21) being held May 15, 2021 through May 17, 2021:

  • Sunday, May 16, 2021, 10:45 am ET; Session 902: “Highlighted Original Research: Heart Failure and Cardiomyopathies and the Year in Review”
    • “Sotagliflozin Reduces Total Hospitalizations and Increases Days Alive and Out of Hospital in the SOLOIST-WHF Trial” (10:57 am-11:07 am ET). Presented by Michael Szarek, Ph.D.
  • Monday, May 17, 2021, 8:00 am ET; Session 410: “Late-Breaking Clinical Trials IV”
    • “Benefits of Sodium Glucose Co-transporter-1/2 Inhibition with Sotagliflozin Across the Full Spectrum of Ejection Fraction, Including Heart Failure with Preserved Ejection Fraction” (8:00 am-8:10 am ET). Presented by Deepak Bhatt, M.D., M.P.H.

About Sotagliflozin

Discovered using Lexicon’s unique approach to gene science, sotagliflozin is an oral dual inhibitor of two proteins responsible for glucose regulation known as sodium-glucose co-transporter types 1 and 2 (SGLT1 and SGLT2). SGLT1 is responsible for glucose absorption in the gastrointestinal tract, and SGLT2 is responsible for glucose reabsorption by the kidney. Sotagliflozin is approved in the European Union (EU) for use as an adjunct to insulin therapy to improve blood sugar (glycemic) control in adults with type 1 diabetes with a body mass index ≥ 27 kg/m2, who could not achieve adequate glycemic control despite optimal insulin therapy, but has not yet been commercially launched.

About Lexicon Pharmaceuticals

Lexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients’ lives. Through its Genome5000™ program, Lexicon scientists studied the role and function of nearly 5,000 genes and identified more than 100 protein targets with significant therapeutic potential in a range of diseases. Through the precise targeting of these proteins, Lexicon is pioneering the discovery and development of innovative medicines to safely and effectively treat disease. Lexicon advanced one of these medicines to market and has a pipeline of promising drug candidates in discovery and clinical and preclinical development in neuropathic pain, heart failure, diabetes and metabolism and other indications. For additional information, please visit www.lexpharma.com.

Safe Harbor Statement

This press release contains “forward-looking statements,” including statements relating to Lexicon’s financial position and long-term outlook on its business, including the clinical development of, regulatory filings for, and potential therapeutic and commercial potential of LX9211, sotagliflozin and its other potential drug candidates. In addition, this press release also contains forward looking statements relating to Lexicon’s growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information. All forward-looking statements are based on management’s current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including Lexicon’s ability to meet its capital requirements, successfully conduct preclinical and clinical development and obtain necessary regulatory approvals of LX9211, sotagliflozin and its other potential drug candidates on its anticipated timelines, achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, as well as additional factors relating to manufacturing, intellectual property rights, and the therapeutic or commercial value of its drug candidates. Any of these risks, uncertainties and other factors may cause Lexicon’s actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under “Risk Factors” in Lexicon’s annual report on Form 10-K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

For Inquiries:

Chas Schultz
Executive Director, Corporate Communications and Investor Relations
Lexicon Pharmaceuticals
(281) 863-3421
cschultz@lexpharma.com

 

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229544/0/en/Lexicon-Pharmaceuticals-Announces-Two-Presentations-at-the-American-College-of-Cardiology-s-70th-Annual-Scientific-Session.html

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OMNIQ Announces Q1 2020 Revenue increased 43% YoY to $19.8 Million; 100% Growth in AI-Based Technology Contracts

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Subsequent to quarter end, OMNIQ announced a definitive agreement to acquire technology leader, Dangot Computers Ltd., creating a combined $91 Million Revenue provider of automation and object identification solutions, positioned to drive increased adoption of OMNIQ’s AI Based Offerings

SALT LAKE CITY, May 13, 2021 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced its financial results for the three month period ended March 31, 2021.

Select Q1 2021 and recent highlights include:

  • Subsequent to quarter end, OMNIQ announced a definitive agreement to acquire technology leader, Dangot Computers Ltd., creating a combined $91 Million Revenue provider of automation and object identification solutions, positioned to drive increased adoption of OMNIQ’s AI Based Offerings
  • Q1 Sales of $19.8 million Increased 43% YoY
  • Sales Orders from Artificial Intelligence (AI) Based Technology grew 100% in Q1 2021
  • Secured a $6.8 Million Purchase Agreement from a leading specialty retailer
  • Received a $6.1 Million Purchase Agreement from Leading U.S. Food Distributor
  • Won an AI based homeland security project for terror prevention in a sensitive area in the middle east.
  • AI Based Vehicle Recognition Systems Selected for Urban Traffic Management and Regulation Enforcement Projects

Shai Lustgarten, CEO of OMNIQ, “2021 is off to a great start. Last week we announced a definitive agreement to acquire Dangot, forming a combined $91 Million revenue automation and object identification solutions powerhouse, well placed to drive increased sales of our AI based offerings.”

“We also recorded a strong first quarter on an organic basis” said Shai Lustgarten, CEO of OMNIQ. “Revenue increased 43% to nearly $20 million and AI based technology contracts grew 100% year over year. As we add new AI based projects, book repeat supply chain sales, in higher volumes, from our Fortune 500 customers, and cross-sell AI-based solutions to our supply chain customers, and now to Dangot customers, we expect rapid growth to continue. ”

First Quarter 2020 Financial Results 
OMNIQ reported revenue of $19.8 million for the quarter ended March 31, 2021, an increase of 43% from $13.8 million in the first quarter of 2020. The revenue increase reflects higher demand from certain customers during the quarter as well as continued traction in our markets. Total operating expenses for the quarter were $5.5 million, compared with $5.1 million in the first quarter of 2020.

Net loss for the quarter was $3.3 million, or a loss of $.70 per basic share, compared with a loss of $2.9 million, or a loss of $.74 per basic share, for the first quarter of last year.

Adjusted EBITDA (adjusted Earnings Before Interest, Taxes, Depreciation and Amortization) for the first quarter of 2020 amounted to a loss of $1.2 million compared with an adjusted EBITDA loss of $834 thousand in the first quarter of 2020.

After fully paying off its $5.0 million credit line, cash was $2.7 million for the period ended March 31, 2021.

Financial tables follow.

OMNIQ CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

  For the three months ended 
  31-Mar 
(In thousands, except share and per share data) 2021  2020 
Revenues        
Total Revenues $19,751  $13,799 
         
Cost of goods sold        
Cost of goods sold  17,115   10,763 
         
Gross profit  2,636   3,036 
         
Operating expenses        
Research and development  494   386 
Selling, general and administrative  4,438   4,137 
Depreciation  43   47 
Amortization  525   502 
Total operating expenses  5,500   5,072 
         
Income (loss) from operations  (2,864)  (2,036)
         
Other income (expenses):        
Interest expense  (589)  (795)
Other (expenses) income  110   (42)
Total other expenses  (479)  (837)
         
Net loss before Income Taxes  (3,343)  (2,873)
         
Provision for Income Taxes        
Current  –   – 
Total Provision for Income Taxes  –   – 
         
Net loss attributable to OMNIQ Corp. $(3,343) $(2,873)
Less: Preferred stock – Series C dividend  (31)  (72)
Net loss attributable to the common stockholders $(3,374) $(2,945)
Foreign currency translation adjustment  105   – 
Other comprehensive income (loss)  (3,269)  (2,945)
          
Net loss per share – basic $(0.70) $(0.74)
         
Net loss per share from continuing operations – basic $(0.70) $(0.74)
Weighted average number of common shares outstanding – basic  4,700,737   3,984,006 

OMNIQ CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data) As of 
  31-Mar-21  31-Dec-20 
       
ASSETS        
Current assets        
Cash and cash equivalents $2,669  $4,594 
Accounts receivable, net  11,428   9,661 
Inventory  2,347   1,507 
Prepaid expenses  634   670 
Other current assets  12   10 
Total current assets  17,090  $16,442 
         
Property and equipment, net of accumulated depreciation of $642 and $600, respectively  248   289 
Goodwill  14,695   14,695 
Trade name, net of accumulated amortization of $3,464 and $3,362, respectively  927   1,028 
Customer relationships, net of accumulated amortization of $8,456 and $8,111, respectively  4,133   4,479 
Other intangibles, net of accumulated amortization of $415 and $382, respectively  1,008   1,042 
Restricted Cash  –   533 
Right of use lease asset  69   76 
Other assets  42   74 
Total assets $38,212  $38,658 
         
LIABILITIES AND STOCKHOLDERS’ EQUITY        
Current liabilities        
Accounts payable and accrued liabilities $34,074  $26,811 
Line of credit  –   4,914 
Accrued payroll and sales tax  1,364   1,717 
Notes payable, related parties – current portion  390   433 
Notes payable – current portion  6,449   6,449 
Lease liability – current portion  32   31 
Other current liabilities  1,380   1,412 
Total current liabilities  43,689   41,767 
         
Long term liabilities        
Notes payable, related party, less current portion  585   683 
Accrued interest and accrued liabilities, related party  59   56 
Notes payable, less current portion  –   1 
Lease liability  40   48 
Other long-term liabilities  1,178   1,146 
Total liabilities  45,551   43,701 
         
Stockholders’ equity (deficit)        
Series A Preferred stock; $0.001 par value; 1,000,000 shares designated, 0 shares issued and outstanding  –   – 
Series B Preferred stock; $0.001 par value; 1 share designated, 0 shares issued and outstanding  –   – 
Series C Preferred stock; $0.001 par value; 5,000,000 shares designated, 2,145,030 shares issued and outstanding, respectively  2   2 
Common stock; $0.001 par value; 15,000,000 shares authorized; 4,716,218 and 4,684,736 shares issued and outstanding, respectively.  5   5 
Additional paid-in capital  52,819   51,842 
Accumulated (deficit)  (60,104)  (56,726)
Accumulated other comprehensive loss  (61)  (166)
Total stockholders’ equity (deficit)  (7,339)  (5,043)
Total liabilities and stockholders’ equity (deficit) $38,212  $38,658 

OMNIQ Corp.
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES

  Three months ended
(In thousands) March 31,
Adjusted EBITDA Calculation 2021   2020 
      
Net loss  (3343)   (2873)
Depreciation & amortization  566    548 
Interest expense  589    795 
Income taxes  –    – 
Stock compensation  1107    544 
Nonrecurring loss events  (110)   153 
Adjusted EBITDA  (1191)   (833)
        
Total revenues, net  19751    13,799 
        
Adjusted EBITDA as a % of total revenues, net  (6.03)%  (6.04)


Conference Call Information

To participate in this event, dial approximately 5 to 10 minutes before the beginning of the call. 
Date, Time: May 14, 2021, at 11:00am ET 
Toll-Free: 877-407-9210 
International: 201-689-8049 
Live Webcast: https://www.webcaster4.com/Webcast/Page/2310/41133

Conference Call Replay Information

Toll-Free: 877-481-4010 
Reference ID: 41133

About OMNIQ Corp. 
OMNIQ Corp. (OTCQB: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications. The technology and services provided by the Company help clients move people, assets and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.

Information about Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Investor Contact:

James Carbonara 
Hayden IR 
(646)-755-7412 
james@haydenir.com

Brett Maas 
Hayden IR 
(646) 536-7331 
brett@haydenir.com

 

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229542/0/en/OMNIQ-Announces-Q1-2020-Revenue-increased-43-YoY-to-19-8-Million-100-Growth-in-AI-Based-Technology-Contracts.html

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Xcel Brands to Report First Quarter 2021 Financial Results on May 17, 2021

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NEW YORK, May 13, 2021 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), a media and consumer products company, today announced that it will report its first quarter 2021 financial results after the market closes on May 17, 2021. The Company will hold a conference call with the investment community at 5:00 p.m. Eastern Time that day.

A webcast of the conference call will be available live on the Investor Relations section of Xcel’s website at https://www.xcelbrands.com/. Interested parties unable to access the conference call via the webcast may dial 877-300-8521. A replay of the conference call will be available on the Company website for approximately two weeks following the event and can be accessed at 844-512-2921 using replay pin number 10156596.

About Xcel Brands
Xcel Brands, Inc. (NASDAQ:XELB) is a media and consumer products company engaged in the design, production, marketing, wholesale, and direct-to-consumer sales of branded apparel, footwear, accessories, jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. The company’s brands have generated in excess of $3 billion US in retail sales through live streaming on TV. Xcel was founded by Robert W. D’Loren in 2011 with a vision to reimagine shopping, entertainment, and social media as one. Xcel owns the Isaac Mizrahi, Judith Ripka, Halston, LOGO Lori Goldstein and C. Wonder brands, and it owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC, pioneering a ubiquitous sales strategy which includes the promotion and sale of products under its brands through interactive television, brick-and-mortar retail, e-commerce and peer to peer channels. Headquartered in New York City, Xcel Brands is led by an executive team with significant livestream production, merchandising, design, production, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. With an experienced team of professionals focused on design, production, and digital marketing, Xcel maintains control of product quality and promotion across all of its product categories and distribution channels. Xcel differentiates by design. www.xcelbrands.com

For further information please contact:

Andrew Berger
SM Berger & Company
216-464-6400
andrew@smberger.com

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229541/17602/en/Xcel-Brands-to-Report-First-Quarter-2021-Financial-Results-on-May-17-2021.html

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BRP Group, Inc. to Participate in the Wells Fargo Virtual Financial Services Investor Conference

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TAMPA, Fla., May 13, 2021 (GLOBE NEWSWIRE) — BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced that Trevor Baldwin, Chief Executive Officer, Kris Wiebeck, Chief Strategy Officer and Brad Hale, Chief Financial Officer, will participate in a fireside chat at the Wells Fargo Virtual Financial Services Investor Conference on Thursday, May 20, 2021 at 10:40am Eastern Time.

A link to the live webcast of the fireside chat will be accessible in the investor relations section of the Company’s website at ir.baldwinriskpartners.com. A replay of the fireside chat will be accessible on the website via the same link following the conference.

ABOUT BRP GROUP, INC.

BRP Group, Inc. (NASDAQ: BRP) is a rapidly growing independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our Clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance and employee benefits, and support our Clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our growth. BRP represents over 600,000 Clients across the United States and internationally. For more information, please visit www.baldwinriskpartners.com.

CONTACTS

INVESTOR RELATIONS
Bonnie Bishop
Investor Relations
(813) 259-8032 | IR@baldwinriskpartners.com

PRESS
Rachel Carr, Marketing Director
Baldwin Risk Partners
(813) 418-5166 | Rachel.Carr@baldwinriskpartners.com

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229540/0/en/BRP-Group-Inc-to-Participate-in-the-Wells-Fargo-Virtual-Financial-Services-Investor-Conference.html

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Metromile to Participate in the 2021 Wells Fargo Virtual Financial Services Investor Conference

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SAN FRANCISCO, May 13, 2021 (GLOBE NEWSWIRE) — Metromile, Inc. (“Metromile”) (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, today announced it will participate in the 2021 Wells Fargo Virtual Financial Services Investor Conference on Thursday, May 20, 2021. Metromile Chief Executive Officer Dan Preston will participate in a fireside chat at 2:40 pm ET / 11:40 am PT.

A live webcast of the fireside chat will be accessible on Metromile’s investor relations website at ir.metromile.com. A replay of the fireside chat will also be accessible for a limited time on the website following the conference.

About Metromile

Metromile (NASDAQ: MILE, MILEW) is a leading digital insurance platform in the United States. With data science as its foundation, Metromile offers real-time, personalized auto insurance policies by the mile instead of the industry’s reliance on approximations that have historically made prices unfair. Metromile’s digitally native offering is built around the modern driver’s needs, featuring automated claims, complimentary smart driving features and annual average savings of 47% over what they were paying their previous auto insurer.

In addition, through Metromile Enterprise, it licenses its technology platform to insurance companies around the world. This cloud-based software as a service enables carriers to operate with greater efficiency, automate claims to expedite resolution, reduce losses associated with fraud, and unlock the productivity of employees.

For more information about Metromile, visit www.metromile.com and enterprise.metromile.com.

Contacts

Investor Relations

Garrett Edson, ICR
ir@metromile.com
646-677-1889

Public Relations

Rick Chen, Metromile
press@metromile.com
415-676-7744

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229539/0/en/Metromile-to-Participate-in-the-2021-Wells-Fargo-Virtual-Financial-Services-Investor-Conference.html

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Evolving Systems Reports First Quarter 2021 Financial Results

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ENGLEWOOD, Colo., May 13, 2021 (GLOBE NEWSWIRE) — Evolving Systems, Inc. (NASDAQ: EVOL), a leader in real-time digital engagement, today reported financial results for its first quarter ended March 31, 2021.

2021 First Quarter Highlights:

  • First quarter revenue was $6.5 million
  • The Company has generated positive cash flow from operations and increased the cash and cash equivalents balance to $4.3 million
  • First quarter operating loss was $0.2 million, net loss of $0.9 million
  • Adjusted EBITDA was positive $0.3 million

“We are pleased that, through these challenging times, we were able to maintain our stretch of quarters with positive adjusted EBITDA and that our revenue rose from the corresponding period a year ago when the pandemic had just started. We continue to successfully manage our work through telework and to provide the same level of performance our clients have grown to expect from us. The Company continues to generate positive cash flow from operations increasing our cash and cash equivalent balances from the end of 2020. Also, we made our final payment on the East West Bank term loan in the first quarter. Although there has been continued impact on our ability to interact with our clients in the traditional modes of sales and business development, and the pandemic has slowed our expected growth, we are excited to continue to make the gains that we have,” said Matthew Stecker, Chief Executive Officer and Executive Chairman of Evolving Systems.

First Quarter 2021 Results
Total revenue for the first quarter ended March 31, 2021 was $6.5 million, a $0.2 million or approximately 2.8% increase from the three months ended March 31, 2020. The increase was primarily related to revenues from existing client work on new projects and upgrades as well as new client projects. These were partially offset by less work with other clients as projects neared completion or services decreased. Services revenues of $6.3 million, that are mostly recurring in nature, increased year-over-year by $0.2 million or 3.4% over the comparable year-ago period. The Company reported gross profit margins, excluding depreciation and amortization, of approximately 65.3% for the quarter ended March 31, 2021 which is mostly consistent with the gross profit margins of approximately 66.0% for the quarter ended March 31, 2020.

Total operating expenses of $4.4 million in the quarter ended March 31, 2021 increased by approximately $0.1 million, as compared to $4.3 million in the corresponding year-ago period. The increase was related to resource costs toward our product development as staff size increased and internal staff have been reassigned to product development from client project work. This was partially offset by a reduction in sales and marketing costs as travel and entertainment costs were reduced due to the travel restrictions imposed and a reduction in staff.

The Company reported operating loss of $0.2 million in the quarter ended March 31, 2021 and March 31, 2020. The net loss was $0.9 million for the quarter ended March 31, 2021 as compared to a net loss of less than $0.1 million in the comparable year-ago period. The increase in net loss was primarily related to foreign currency exchange loss and the recording of a contingent liability. While we have previously disclosed the existence of a litigation matter regarding our former CEO in our filings, a settlement seemed unlikely and a value could not be estimated. While no settlement has been finalized, ongoing discussions are progressing. As such, we have recorded a contingent liability in the amount of $0.3 million as of March 31, 2021. The Company reported adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”) of $0.3 million in the first quarter of 2021 as compared to $0.2 million adjusted EBITDA in the first quarter of 2020.

Cash and cash equivalents as of March 31, 2021 was $4.3 million, an increase of 55.3% compared to $2.8 million as of December 31, 2020. Contract receivables, net of allowance for doubtful accounts, were $4.7 million, a decrease of $1.0 million compared to December 31, 2020. Unbilled work-in-progress was $3.6 million for the period ended March 31, 2021, an increase of $0.2 million compared to December 31, 2020. Unearned revenue increased $1.3 million to $5.0 million as of March 31, 2021 as compared to $3.7 million as of December 31, 2020. Working capital as of March 31, 2021 decreased to $5.1 million as compared to $5.5 million as of December 31, 2020.   This change is primarily related to changes in accounts noted above.

Matthew Stecker concluded: “We will continue our focus on increasing innovation and finding new growth opportunities. We are actively engaging with existing clients, helping them to explore new ways of using our products and services to enhance their businesses during these difficult times, while we also find opportunities to work with new customers. We plan to develop exciting new products and to facilitate penetration into new markets benefiting our clients while continuing to generate sustainable long-term shareholder value.”

Conference Call
The Company will be conducting a conference call and webcast on Thursday, May 13, 2021 at 5:00 p.m. Eastern Time and 3:00 p.m. Mountain Time. To access a live video webcast of the call, please click the ‘Investors’ tab on the Company’s website at https://www.evolving.com/investors and then click the ‘Q1/2021 earnings call’ icon on the left. A replay of the webcast will be accessible at that website through August 13, 2021.

Non-GAAP Financial Measures
The Company reports its financial results in accordance with accounting principles generally accepted in the U.S. (GAAP). In addition, the Company is providing in this news release financial information in the form of non-GAAP net income and diluted net earnings per share and adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, impairment, stock compensation, restructuring and gain/loss on foreign exchange transactions). Management believes these non-GAAP financial measures are useful to investors and lenders in evaluating the overall financial health of the Company in that they allow for greater transparency of additional financial data routinely used by management to evaluate performance. Investors and financial analysts who follow the Company use non-GAAP net income and non-GAAP diluted earnings per share to compare the Company against other companies. Adjusted EBITDA can be useful for lenders as an indicator of earnings available to service debt. Non-GAAP financial measures should not be considered in isolation from, as an alternative to, or superior to, the financial information prepared in accordance with GAAP.

About Evolving Systems®
Evolving Systems, Inc. (NASDAQ: EVOL) empowers Communications Service Providers (CSPs) to succeed in fast-changing, disruptive telecom environments. This is achieved through a combination of People, Processes, and Platforms and empowers CSPs to activate, engage, and retain their customers. Evolving Systems’ real-time digital engagement solutions and services are used by more than 90 service providers in over 60 countries worldwide. The Company’s portfolio includes CSP market-leading solutions and services for network provisioning and resource management, enhancing the digital sales and distribution channels, service activation, real-time analytics, customer value management and loyalty. Founded in 1985, the Company has its headquarters in Englewood, Colorado, with offices in Asia, Europe, Africa, South and North America. For more information, please visit www.evolving.com or follow us on Twitter at http://twitter.com/EvolvingSystems.

CAUTIONARY STATEMENT
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Specifically, statements about the market for, and performance of, the Company’s products, the Company’s plans to develop new products, its ability to successfully integrate its solutions with existing customer network systems, the Company’s business strategy and the Company’s cash runway are forward-looking statements. These statements are based on the Company’s expectations and are naturally subject to uncertainty and changes in circumstances. Readers should not place undue reliance on these forward-looking statements. Actual results could vary materially from these expectations. For a more extensive discussion of Evolving Systems’ business, and important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements, please refer to the Company’s filings and reports filed with the United States Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Relations Contact:

Alice Ahern
Investor Relations
Evolving Systems
Tel: 1-844-732-5898
Email: investors@evolving.com

EVOLVING SYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
  
  March 31,   December 31,
  2021    2020  
ASSETS     
Current assets:     
Cash and cash equivalents$4,292  $2,763 
Contract receivables 4,741   5,681 
Unbilled work-in-progress 3,593   3,365 
Prepaid and other current assets 1,608   1,828 
Income taxes receivable 740   270 
Total current assets 14,974   13,907 
Property and equipment, net 512   532 
Amortizable intangible assets, net 2,544   2,769 
Operating leases 1,203   915 
Deferred income taxes 960   953 
Total assets$20,193  $19,076 
                                           
LIABILITIES AND STOCKHOLDERS’ EQUITY     
Current liabilities:     
Term loan – current$–  $142 
Accounts payable and accrued liabilities 4,495   4,305 
Lease obligations — operating leases 326   294 
Unearned revenue 5,043   3,713 
Total current liabilities 9,864   8,454 
Long-term liabilities:     
Term loan, net 319   319 
Lease obligations, net 870   613 
Total liabilities 11,053   9,386 
      
Stockholders’ equity:     
Common stock 12   12 
Additional paid-in capital 99,973   99,776 
Treasury stock (1,253)  (1,253)
Accumulated other comprehensive loss (10,176)  (10,345)
Accumulated deficit (79,416)  (78,500)
Total stockholders’ equity 9,140   9,690 
Total liabilities and stockholders’ equity$20,193  $19,076 
      
EVOLVING SYSTEMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
      
  Three Months Ended
  March 31,
  2021    2020  
REVENUE     
License fees$178  $207 
Services 6,282   6,078 
Total revenue 6,460   6,285 
      
COSTS OF REVENUE AND OPERATING EXPENSES     
Costs of revenue, excluding depreciation and amortization 2,240   2,136 
Sales and marketing 1,341   1,561 
General and administrative 1,445   1,414 
Product development 1,304   1,063 
Depreciation 62   50 
Amortization 238   235 
Total costs of revenue and operating expenses 6,630   6,459 
      
Loss from operations (170)  (174)
      
Other (expense) income     
Interest income 1   2 
Interest expense (1)  (47)
Other (expense) income, net (291)  3 
Foreign currency exchange (loss) income (380)  383 
Other (expense) income, net (671)  341 
      
(Loss) income from operations before income taxes (841)  167 
Income tax expense 75   199 
Net loss$(916) $(32)
      
Basic loss per common share$(0.08) $(0.00)
      
Diluted loss per common share$(0.08) $(0.00)
      
Weighted average basic shares outstanding 12,206   12,164 
Weighted average diluted shares outstanding 12,206   12,164 
      
      
      
      
      
      
EVOLVING SYSTEMS, INC.
Reconciliation of GAAP to Non-GAAP Measures
(in thousands, except per share data)
(unaudited)
      
  Three Months Ended
  March 31,
  2021    2020  
Adjusted EBITDA:     
Net loss$(916) $(32)
Depreciation 62   50 
Amortization of intangible assets 238   235 
Stock-based compensation expense 197   58 
Interest expense and other (benefit), net 671   (341)
Income tax expense 75   199 
Adjusted EBITDA$327  $169 
      
      
Non-GAAP net (loss) income:     
GAAP net (loss) income$(916) $(32)
Amortization of intangible assets 238   235 
Stock-based compensation expense 197   58 
Income tax adjustment for non-GAAP* (80)  (50)
Non-GAAP net (loss) income $(561) $211 
      
Diluted net (loss) income per share     
GAAP$(0.08) $(0.00)
Non-GAAP$(0.05) $0.02 
Shares used to compute diluted net (loss) income per share12,206   12,164 
      
      
* The estimated income tax for non-GAAP net income is adjusted by the amount of additional expense that we would accrue if we used non-GAAP results instead of GAAP results in the calculation of our tax liability, taking into account which tax jurisdiction each of the above adjustments would be made and the tax rate in that jurisdiction.

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229536/0/en/Evolving-Systems-Reports-First-Quarter-2021-Financial-Results.html

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CPS Technologies Corporation Announces CEO Transition

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NORTON, Mass., May 13, 2021 (GLOBE NEWSWIRE) — CPS Technologies Corporation (NASDAQ:CPSH) today announced that Grant Bennett has decided to retire as president and CEO of the Company effective July 1, 2021. He will continue to serve as a member of the Board of Directors. He will be succeeded as president and chief executive officer by Michael McCormack who is currently the COO.

Francis Hughes, Chairman of the Board of Directors, commented, “Grant has served as president and CEO of CPS for the last 29 years, and as a key member of the CPS team for 35 years, having joined the Company within a year of its founding. On behalf of the Board of Directors, shareholders, employees and customers, we thank him for his remarkable service and leadership, remarkable both in terms of quality and duration. He will continue to provide leadership as a member of the Board of Directors.”

Grant Bennett commented, “CPS now begins a new chapter – Michael McCormack has my complete support and confidence as he deploys his considerable skills to lead CPS going forward, accelerating our growth. It has been a privilege to work with the entire CPS team as we have created leading-edge metal-matrix composite technology and become a fully-qualified manufacturer of critical components for the green economy serving a world-wide customer base. Most meaningful for me, we have created a culture of innovation, collaboration, integrity and respect where employees can rise to their full potential. I look forward to continuing my association with CPS as a director.”

Michael McCormack joined CPS in January 2021 as COO. He joined CPS after several successful executive leadership roles in both private and public companies. Michael has an exemplary track record of leadership growing small to medium sized technology companies in the Aerospace & Defense Market. In selecting Michael as the new CEO the Board of Directors wanted a strong innovative leader with both strategic and operational skills and a proven track record of being able to generate organic growth in a technology-based manufacturing company.

About CPS
CPS is a technology and manufacturing leader in producing high-performance energy management components that facilitate the electrification of the economy. Our products and intellectual property include critical pieces of the technology puzzle for electric trains and subway cars, wind turbines, hybrid vehicles, electric vehicles, the smart electric grid, 5G infrastructure and others. CPS’ armor products provide exceptional ballistic protection and environmental durability at very light weight. CPS is committed to innovation and to supporting our customers in building solutions to this planet’s problems.

Safe Harbor
Statements made in this document that are not historical facts or which apply prospectively, including those relating to 2021 financial results, are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as “will,” “intends,” “believes,” “expects,” “plans,” “anticipates” and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company’s expectation. Additional information concerning risk factors is contained from time to time in the company’s SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.

CPS Technologies Corporation                  
Chuck Griffith, Chief Financial Officer                                
111 South Worcester Street
Norton, MA 02766
Telephone: (508) 222-0614
Web Site: www.alsic.com

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229535/0/en/CPS-Technologies-Corporation-Announces-CEO-Transition.html

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Crown Crafts Announces Quarterly Cash Dividend

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GONZALES, La., May 13, 2021 (GLOBE NEWSWIRE) — Crown Crafts, Inc. (NASDAQ-CM: CRWS) (the “Company”) announced today that its Board of Directors has declared a quarterly cash dividend on its Series A common stock of $0.08 per share to be paid on July 2, 2021 to stockholders of record at the close of business on June 11, 2021.

“Our quarterly dividend is the result of the ongoing commitment of our Board and management team to deliver solid and consistent returns to our shareholders,” said E. Randall Chestnut, Chairman and Chief Executive Officer. “Crown Crafts remains in strong financial position with a focus on generating positive cash flow and long-term value.”

About Crown Crafts, Inc.
Crown Crafts, Inc. designs, markets and distributes infant, toddler and juvenile consumer products. Founded in 1957, Crown Crafts is one of America’s largest producers of infant bedding, toddler bedding, bibs and developmental toys. The Company operates through its two wholly owned subsidiaries, NoJo Baby & Kids, Inc., and Sassy Baby, Inc., which market a variety of infant, toddler and juvenile products under Company-owned trademarks, as well as licensed collections and exclusive private label programs. Sales are made directly to retailers such as mass merchants, large chain stores and juvenile specialty stores. For more information, visit the Company’s website at www.crowncrafts.com.

The foregoing contains forward-looking statements within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements are based upon management’s current expectations, projections, estimates and assumptions. Words such as “expects,” “believes,” “anticipates” and variations of such words and similar expressions identify such forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause future results to differ materially from those suggested by the forward-looking statements. These risks include, among others, the impact of the COVID-19 pandemic on the Company’s business operations, general economic conditions, including changes in interest rates, in the overall level of consumer spending and in the price of oil, cotton and other raw materials used in the Company’s products, changing competition, changes in the retail environment, the Company’s ability to successfully integrate newly acquired businesses, the level and pricing of future orders from the Company’s customers, the extent to which the Company’s business is concentrated in a small number of customers, the Company’s dependence upon third-party suppliers, including some located in foreign countries, customer acceptance of both new designs and newly-introduced product lines, actions of competitors that may impact the Company’s business, disruptions to transportation systems or shipping lanes used by the Company or its suppliers, and the Company’s dependence upon licenses from third parties. Also, in regard to the Company’s dividend announced today and its history of paying dividends, the declaration of each dividend is at the discretion of the Company’s Board of Directors and the Company expressly disclaims any assurances as to the frequency and amount of any future dividends. Reference is also made to the Company’s periodic filings with the Securities and Exchange Commission for additional factors that may impact the Company’s results of operations and financial condition. The Company does not undertake to update the forward-looking statements contained herein to conform to actual results or changes in our expectations, whether as a result of new information, future events or otherwise.

Published on : https://www.globenewswire.com/news-release/2021/05/13/2229534/6937/en/Crown-Crafts-Announces-Quarterly-Cash-Dividend.html

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Mettler-Toledo International Inc. Announces Webcast of Presentation at the 2021 UBS Global Healthcare Virtual Conference

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Columbus, OH, May 13, 2021 (GLOBE NEWSWIRE) — Mettler-Toledo International Inc. (NYSE:MTD) today announced the webcast of its presentation at the 2021 UBS Global Healthcare Virtual Conference on Wednesday, May 26, 2021, at 12:00 p.m Eastern Time.  To hear a live webcast of the presentation, visit the investor relations page on the Company’s Web site at www.mt.com/investors.  A replay of the webcast will be available for seven days.

METTLER TOLEDO (NYSE: MTD) is a leading global supplier of precision instruments and services. We have strong leadership positions in all of our businesses and believe we hold global number-one market positions in most of them. We are recognized as an innovation leader and our solutions are critical in key R&D, quality control, and manufacturing processes for customers in a wide range of industries including life sciences, food, and chemicals. Our sales and service network is one of the most extensive in the industry. Our products are sold in more than 140 countries and we have a direct presence in approximately 40 countries. With proven growth strategies and a focus on execution, we have achieved a long-term track record of strong financial performance. For more information, please visit www.mt.com.    
   

 Published on : https://www.globenewswire.com/news-release/2021/05/13/2229533/0/en/Mettler-Toledo-International-Inc-Announces-Webcast-of-Presentation-at-the-2021-UBS-Global-Healthcare-Virtual-Conference.html
 
 
 
 
 
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Checkmate Pharmaceuticals Reports First Quarter 2021 Financial Results and Provides Update on Recent Progress
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CAMBRIDGE, Mass., May 13, 2021 (GLOBE NEWSWIRE) — Checkmate Pharmaceuticals, Inc. (NASDAQ: CMPI) (“Checkmate”), a clinical stage biopharmaceutical company focused on developing its proprietary technology to harness the power of the immune system to combat cancer, today announced first quarter 2021 financial results and provided an update on recent progress.
“Since the start of 2021, we have initiated patient dosing in our core clinical trials evaluating vidutolimod (CMP-001) in combination with PD-1 blockade in melanoma and head and neck cancer. We are pleased to have also recently announced our intention to broaden our vidutolimod clinical development program into non-melanoma skin cancers in combination with Libtayo® (cemiplimab), under a collaboration agreement with Regeneron,” said Barry Labinger, President and Chief Executive Officer of Checkmate.
Recent Progress
Vidutolimod Clinical Updates
  • Year to date, Checkmate has initiated patient dosing across all three of our core clinical trials evaluating vidutolimod.
    • A randomized Phase 2/3 trial of vidutolimod in combination with nivolumab vs. nivolumab monotherapy in first-line metastatic or unresectable melanoma.
    • A Phase 2 trial of vidutolimod in combination with nivolumab in anti-PD-1 refractory advanced melanoma. Both melanoma trials are supported by a clinical collaboration with Bristol Myers Squibb.
    • A Phase 2 trial of vidutolimod in combination with pembrolizumab in recurrent or metastatic squamous cell head and neck cancer. Initial data in a subset of patients are expected before the end of 2021.
  • New translational data were presented from our Phase 1b trial of vidutolimod in combination with pembrolizumab in patients with melanoma refractory to PD-1 blockade at the 2021 American Association for Cancer (AACR) Annual Meeting.
Collaboration and New Indication Expansion
  • In May, Checkmate announced the planned expansion of the development program for vidutolimod into non-melanoma skin cancers supported by a clinical supply agreement with Regeneron to evaluate the combination of vidutolimod and Libtayo® (cemiplimab). The companies will collaborate on a Phase 2, proof of concept, multi-indication trial with patient cohorts in anti-PD-1 naïve and anti-PD-1 refractory cutaneous squamous cell carcinoma and anti-PD-1 refractory Merkel cell carcinoma.
First Quarter 2021 Financial Results 
  • Research and development expenses (R&D): R&D expenses for the first quarter of 2021 were $10.4 million, compared to $6.3 million for the same period in the prior year. This increase reflected a milestone payment of $2.0 million in the first quarter of 2021 triggered by initiation of patient dosing in our Phase 2, first-line melanoma trial, as well as increases in personnel and operating expense for the planning and initiation of additional clinical trials with vidutolimod.
  • General and administration expenses (G&A): G&A expenses for the first quarter of 2021 were $3.8 million, compared to $1.5 million for the same period in the prior year. This increase was primarily attributable to increases in personnel and operating expense incurred in connection with Checkmate operating as a publicly traded company.
  • Cash, cash equivalents and investments: Cash, cash equivalents and available-for-sale investments were $111.5 million as of March 31, 2021.
About Checkmate Pharmaceuticals
Checkmate Pharmaceuticals is a clinical stage biotechnology company focused on developing its proprietary technology to harness the power of the immune system to combat cancer. Checkmate Pharmaceuticals’ product candidate, vidutolimod (CMP-001), is an advanced generation Toll-like receptor 9 (TLR9) agonist, delivered as a biologic virus-like particle utilizing a CpG-A oligodeoxynucleotide as a key component, designed to trigger the body’s innate immune system to attack tumors in combination with other therapies. Information regarding Checkmate Pharmaceuticals is available at www.checkmatepharma.com.
Availability of Other Information About Checkmate Pharmaceuticals
Investors and others should note that we communicate with our investors and the public using our website (www.checkmatepharma.com), our investor relations website (ir.checkmatepharma.com), and on social media (Twitter and LinkedIn), including but not limited to: investor presentations and investor fact sheets, U.S. Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that Checkmate Pharmaceuticals posts on these channels and websites could be deemed to be material information. As a result, we encourage investors, the media, and others interested in us to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on our investor relations website and may include additional social media channels. The contents of our website or these channels, or any other website that may be accessed from our website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933.
Forward Looking Statements 
Various statements in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including. Words such as, but not limited to, “anticipate,” “believe,” “can,” “could,” “expect,” “estimate,” “design,” “goal,” “intend,” “may,” “might,” “objective,” “plan,” “predict,” “project,” “target,” “likely,” “should,” “will,” and “would,” or the negative of these terms and similar expressions or words, identify forward-looking statements. Forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. These statements include those regarding vidutolimod (CMP-001), including its development and therapeutic potential and the advancement of our clinical and preclinical pipeline; expectations regarding the results and analysis of data; and expectations regarding the timing, initiation, implementation and success of its planned and ongoing clinical trials for vidutolimod and the benefits and related implications of current and future partnerships and/or collaborations; and expectations regarding the Company’s use of capital, expenses and other financial results. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. These forward-looking statements are subject to risks and uncertainties, including those related to the development of our product candidate, including any delays in our ongoing or planned preclinical or clinical trials, the results from clinical trials, including the fact that positive results from a trial may not necessarily be predictive of the results of future or ongoing clinical trials, the impact of the ongoing COVID-19 pandemic on our business, operations, clinical supply and plans, the risks inherent in the drug development process, the risks regarding the accuracy of our estimates of expenses and timing of development, our capital requirements and the need for additional financing, and obtaining, maintaining and protecting our intellectual property. These and additional risks are discussed in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Quarterly Report on Form 10-Q for the three months ended March 31, 2021 and in our Annual Report on Form 10-K for the year ending December 31, 2020, as filed with the Securities and Exchange Commission which are available on the Securities and Exchange Commission’s website at www.sec.gov, and as well as discussions of potential risks, uncertainties and other important factors in our subsequent filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Checkmate undertakes no duty to update this information unless required by law.
Investor Contact
Rob Dolski
Chief Financial Officer
rdolski@checkmatepharma.com
Media Contact
Karen Sharma 
MacDougall 
781-235-3060 
ksharma@macbiocom.com
CHECKMATE PHARMACEUTICALS, INC. AND SUBSIDIARY
CONDENSED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)
 Three months ended March 31,
 2021
 2020
Operating expenses:       
Research and development$             10,378  $6,313 
General and administrative 3,803   1,510 
Total operating expenses 14,181   7,823 
Loss from operations               (14,181)          (7,823)
Other income:   
Interest income                                 53   22 
Total other income                            53   22 
Net loss$                 (14,128) $                  (7,801)
Weighted-average common shares outstanding – basic and diluted                     21,582                      1,488 
Net loss per share attributable to common stockholders – basic and diluted$                      (0.65) $                    (6.45)
CHECKMATE PHARMACEUTICALS, INC. AND SUBSIDIARY
CONDENSED BALANCE SHEETS 
(In thousands) 
(Unaudited)
    
   March 31, 2021 December 31, 2020
     
 Cash, cash equivalents and investments $                                  111,458 $   125,859
 Other assets                8,249                     7,215
 Total assets $                              119,707 $        133,074
      
 Total liabilities           7,311              7,875
 Total stockholders’ equity                112,396          125,199
 Total liabilities and stockholders’ equity $                               119,707 $        133,074
 Published on : https://www.globenewswire.com/news-release/2021/05/13/2229529/0/en/Checkmate-Pharmaceuticals-Reports-First-Quarter-2021-Financial-Results-and-Provides-Update-on-Recent-Progress.html
 
 
 
 
 
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Hill International to Present at Sidoti Microcap Virtual Conference
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PHILADELPHIA, May 13, 2021 (GLOBE NEWSWIRE) — Hill International, Inc. (NYSE: HIL) (“Hill” or the “Company”), the global leader in managing construction risk, announced today that CEO Raouf Ghali and CFO Todd Weintraub will present at the Sidoti Microcap Virtual Investor Conference on Wednesday, May 19, 2021 at 9:15 am ET. Management will also be conducting 1×1 meetings with investors on May 19 and 20.
The presentation will be webcast and available via the “Investor Relations” section of Hill’s website at www.hillintl.com.
About Hill International
Hill International, with more than 2,700 professionals in 69 offices worldwide, provides program management, project management, construction management, facilities management, and other consulting services to clients in a variety of market sectors. Engineering News-Record magazine recently ranked Hill as one of the largest construction management firms in the United States. For more information on Hill, please visit our website at www.hillintl.com. 
Forward Looking Statements
Certain statements contained herein may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any statements of belief or intent, any statements concerning our plans, strategies, and objectives for future operations are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates, and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue, and our expenses may be higher than anticipated. We do not intend, and undertake no obligation, to update any forward-looking statement.
Hill International, Inc. 
Elizabeth J. Zipf, LEED AP BD+C
Senior Vice President 
(215) 309-7707
elizabethzipf@hillintl.com
The Equity Group, Inc. 
Devin Sullivan
Senior Vice President 
(212) 836-9608
dsullivan@equityny.com
 Published on : https://www.globenewswire.com/news-release/2021/05/13/2229527/0/en/Hill-International-to-Present-at-Sidoti-Microcap-Virtual-Conference.html
 
 
 
 
 
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NXP Semiconductors Names Andy Micallef as Executive Vice President, Global Operations
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EINDHOVEN, The Netherlands, May 13, 2021 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ: NXPI) announced today that Andy Micallef has been named NXP’s Executive Vice President, Global Operations, effective May 17. In this role, Micallef will be responsible for executing NXP’s end-to-end manufacturing, quality, and supply chain strategies. Micallef, formerly Chief Operations Officer at Marvell Semiconductor, replaces David Reed, who has decided to retire from NXP. Micallef will report directly to NXP President and Chief Executive Officer Kurt Sievers.
“We are excited to have Andy join our team,” said Kurt Sievers, NXP President and CEO. “He brings to NXP a track record of successful operations leadership and has the experience and expertise to help accelerate our journey to make execution a competitive advantage for NXP.”
“I would also like to thank David Reed for his hard work and dedication and wish him well as he enters retirement after more than thirty-five years of work in the semiconductor industry,” Sievers added.
About Andy Micallef
Most recently, Andy was COO of Marvell Semiconductor, where he was responsible for overseeing Marvell’s manufacturing, procurement, supply chain management, logistics, quality, product and test engineering, as well as the company’s information technology and facilities. Before joining Marvell in 2016, Andy was Senior Vice President of Operations at Intersil Corporation. Prior to that, he held operations leadership roles at Audience, a mobile voice and audio-processing company, LSI Corporation, a semiconductor and software design company, and Agere Systems, an integrated circuit components company.
Andy holds a Master of Business Administration and a Master of Science in Mechanical Engineering from the University of Michigan, and a Bachelor of Science in Mechanical Engineering from the University of Notre Dame.
About NXP Semiconductors
NXP Semiconductors N.V. enables secure connections for a smarter world, advancing solutions that make lives easier, better, and safer. As the world leader in secure connectivity solutions for embedded applications, NXP is driving innovation in the automotive, industrial & IoT, mobile, and communication infrastructure markets. Built on more than 60 years of combined experience and expertise, the company has approximately 29,000 employees in more than 30 countries and posted revenue of $8.61 billion in 2020. Find out more at www.nxp.com.
For further information, please contact:                                       
NXP-CORP
 Published on : https://www.globenewswire.com/news-release/2021/05/13/2229526/0/en/NXP-Semiconductors-Names-Andy-Micallef-as-Executive-Vice-President-Global-Operations.html
 
 
 
 
 
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Anthill Ventures Announces Indus X, India’s First Global Smart City Scaling Program
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 Leading speed scaling venture capital firm Anthill Ventures announces Indus X, India’s first UrbanTech Scaling Program that seeks to invest in and scale the next generation of startups focused on solving challenges faced by citizens, corporates, and governments in our urban centers, through the use of cutting-edge technology. Indus X will also serve as a platform to convene government, startups, corporate, and academia, to create an ecosystem of players working within urban technology.
  
 The name Indus X is a homage to the Indus Valley Civilization, which pioneered innovation and technology usage in urban centers. Drawing a parallel, the selected startups will be mentored to scale their products and in doing so, transform Indian cities to become smarter, more sustainable, and more responsive to citizen needs.
  
 Indus X will be a 6 month-long program where 8-10 pre-series A and Series A startups will be mentored to scale with speed. The startups which reach their milestones and achieve scale will receive an investment from Anthill and other co-investors to the tune of $1-3M.
  
 The primary domains of focus for Indus X include:
  1.  Smart & Clean Mobility: Focused on smart and clean transportation of goods, services, and people, to turn every city into a smart city.
  2.  Waste & Water Technology: Focused on technologies that can continuously monitor, diagnose, and solve for problems in the urban waste and water management sector.
  3.  Energy & Grid: Focused on technology for systems and analytical tools to predict demand, usage pattern maintenance, and other incidents to enable a reliable and sustainable power system.
  4.  Smart Security: Focused on technologies that address vulnerabilities in the physical and virtual world to mitigate all risk factors in urban living.
  5.  Smart Infrastructure & Built Environment: Focused on specialty materials and landscape analytics that can enable smarter and more sustainable living.
  6.  Smart Governance: Focused on smart city applications that enable better communication and collaboration between citizens and local governments.
 According to Sailesh Sigatapu, Partner at Anthill Ventures, “In light of the COVID-19 pandemic which has transformed the way we live and interact within our cities, Anthill is excited to launch the Indus X program and scale truly path-breaking technologies that have the potential to bring Indian cities back to the forefront of smart, responsive and sustainable living. We call upon all courageous founders working to solve challenges faced by Urban India to apply.”
  
 Benefits that the startups will receive from the program
  •  Upfront Execution Capital: Upfront investment to deliver on POCs and contracts, solely brought in by the program.
  •  Kick-off and Bootcamp: Two-week-long Bootcamp with a week of knowledge sessions from industry leaders and policymakers followed by a week of one-on-one mentor sessions to find the right startup-mentor fit.
  •  Dedicated Speed Scaler: Dedicated mentor throughout the program.
  •  Interventions to Scale Journey: Business model refinement and go-to-market strategy. 
  •  Market Access: Access to target corporations and government bodies, and new market entry support.
  •  Second Round of Investment: Second investment in a Series A round in selected, top-performing companies which reach milestones and achieve scale.
  
 About Anthill Ventures
 Anthill invests in and partners with courageous entrepreneurs to build companies of the future that scale with speed. It has funds across India and Singapore focused on four key verticals – consumer, mediatech, healthtech and urban tech. Since 2015, Anthill has invested in more than 50 startups in India and across the globe, with 4 successful exits already under its belt.
  
 Anthill’s portfolio companies are supported through a robust speed scaling ecosystem under the A-Scale Program. Accelerators are vertically structured within A-Scale: Urban-i focuses on consumer, Anthill Studio is focused on mediatech, Lumos on healthtech, and Indus X on urban tech. Anthill guides startups through their journey following its core ethos of source, invest, scale and syndicate, delivering value at each stage.
 
Anthill uses its proprietary Scalability Quotient algorithm, which maps each startup on 108 different parameters across 7 categories to identify core areas of support. This enables Anthill to both drive significant value to its portfolio companies and track how a company has improved across various parameters.
  
 Anthill has offices in Singapore, India, and Israel, with a satellite office in the US.
  
 Indus X is open for applications here: www.f6s.com/indus-x/apply.
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