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Good point, Jedi. With the surge in new business that IVDN is starting to experience in 2024 (per the latest news below) and all the extra cash coming in now, it certainly would make sense add higher levels of professional help to keep up with the administrative side of the business. This would also give IVDN management more time to work on continuing to expand marketing efforts to keep the growth curve on track and accelerating for 2025.
Innovative Designs Sales Update
May 30, 2024
https://finance.yahoo.com/news/innovative-designs-sales-110000236.html
Innovative Designs Vendor Growth
April 10, 2024
https://finance.yahoo.com/news/innovative-designs-vendor-growth-174255528.html
$BHAT News: Blue Hat Expands into Gold Trading with Strategic Partnerships As Gold Prices Rise Amid Economic Optimism
https://www.globenewswire.com/en/news-release/2024/08/15/2930903/0/en/Blue-Hat-Expands-into-Gold-Trading-with-Strategic-Partnerships-As-Gold-Prices-Rise-Amid-Economic-Optimism.html
$BHAT News: Blue Hat Expands into Gold Trading with Strategic Partnerships As Gold Prices Rise Amid Economic Optimism
https://www.globenewswire.com/en/news-release/2024/08/15/2930903/0/en/Blue-Hat-Expands-into-Gold-Trading-with-Strategic-Partnerships-As-Gold-Prices-Rise-Amid-Economic-Optimism.html
$YGMZ Investor Overview: https://ir.szygmz.com/investor-overview/
About MingZhu Logistics Holdings Limited (Nasdaq: YGMZ)
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company's regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors' fleets. For more information, please visit https://ir.szygmz.com/.
$YGMZ Investor Overview: https://ir.szygmz.com/investor-overview/
About MingZhu Logistics Holdings Limited (Nasdaq: YGMZ)
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company's regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors' fleets. For more information, please visit https://ir.szygmz.com/.
$NAHD CEO Michael McLaren shares the journey of building a company in the energy sector. Discover how we're innovating and shaping the future of oil and gas production.
$NAHD's CEO Michael McLaren shares the journey of building a company in the energy sector. Discover how we're innovating and shaping the future of oil and gas production.
— Olenox Corp. (@OlenoxCorp) August 21, 2024
Watch: https://t.co/bI3PxdPPTg#Oil #Gas #Energy #OTCQB $NAHD pic.twitter.com/eW3IYjCjxB
$NAHD: CEO Michael McLaren shares the journey of building a company in the energy sector. Discover how we're innovating and shaping the future of oil and gas production.
$NAHD's CEO Michael McLaren shares the journey of building a company in the energy sector. Discover how we're innovating and shaping the future of oil and gas production.
— Olenox Corp. (@OlenoxCorp) August 21, 2024
Watch: https://t.co/bI3PxdPPTg#Oil #Gas #Energy #OTCQB $NAHD pic.twitter.com/eW3IYjCjxB
$IDVV News: Winners Waygers AI Powered Sports Handicapping Assistant Launched In Beta
Carlsbad, California--(Newsfile Corp. - August 15, 2024) - International Endeavors Corp. (OTC Pink: IDVV) ("IEC"), a technology holdings company announced that its WITech.ai division launched a one of a kind artificial intelligence (AI) powered sports handicapping assistant today.
We are pleased to announce the launch of winnerswaygers.com in a free beta mode today thus expanding our AI's ability into sports handicapping. IEC's WITech division plans to expand the service quickly into a subscription based model featuring all major sports using the popularity of the NFL football and fantasy betting season as a catalyst to make users aware of the service.
The AI is currently used by professional handicappers that helped to develop the tools and datasets for the AI. WITech is transforming the current complex model into a user friendly service that will appeal to all.
Current plans are to launch in phases starting with a beta mode offering users the ability to sign up for the service for free. Upon the start of the NFL season in September 2024 users will begin receiving handicapping information from the AI to assist in their decision making.
Our goal after beta is to launch our paid subscription service featuring an interactive sports handicapping bot in Mid October 2024 along with an expansion into Hockey and Basketball. We will be offering a discount to any users of the beta version who wish to upgrade at that time.
We are planning in Q4 of 2024 to begin charging $77 per league selected, for example NFL, and will offer an all sports league package for $247 per year/season. As previously indicated there will be a discount for beta members. At that time the beta version will become a free weekly newsletter featuring one pick to allow potential paid subscribers to see how the service works. We have been seeing massive interest in this service and feel we will have thousands of subscribers as the paid service gets rolled out.
Winners Waygers spokesperson Marrion Lewis stated, "We are excited offer the service to the mainstream. For far too long only professionals have had access to the complex data used to make more accurate sports bets. We plan to change the game. The NFL is the most popular sport to bet, so it is fitting to use it for our launch. I'm personally rooting for the chiefs, but we'll let the AI decide."
IDVV board member Ray Valdez stated, "This is the first expansion of the company into adult related, and more importantly recession resilient sectors. With the potential of many thousands of subscribers we are looking forward to discussing winners waygers along with other opportunities the company is pursuing shortly."
Winners Waygers Video
https://vimeo.com/999064151?share=copy
Relevant Links
https://www.americangaming.org/resources/economic-impact-of-legalized-sports-betting/
https://www.statista.com/topics/10895/fantasy-sports-in-the-us/#topicOverview
https://www.espn.com/nfl/story/_/id/39469575/americans-expected-bet-231b-super-bowl-lviii
We encourage everyone to follow us.
Twitter
https://twitter.com/IDVVcorp
Website(s)
https://witech.ai
https://IDVVCORP.COM
About Us
International Endeavors Corporation ("IEC") is a technology holdings company.
The Company currently is reporting its financial information on OTCMarkets.
Our filings can be seen at https://www.otcmarkets.com.
Disclaimer
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
International Endeavors Corporation
Phone:833-705-0022
Email: otc@idvvcorp.com
SOURCE: International Endeavors Corporation, Inc.
https://images.newsfilecorp.com/files/10187/220044_9ae4a1780431c9ef_logo.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220044
SOURCE International Endeavors Corporation
https://api.newsfilecorp.com/newsinfo/220044/130
$IDVV News: Winners Waygers AI Powered Sports Handicapping Assistant Launched In Beta
Carlsbad, California--(Newsfile Corp. - August 15, 2024) - International Endeavors Corp. (OTC Pink: IDVV) ("IEC"), a technology holdings company announced that its WITech.ai division launched a one of a kind artificial intelligence (AI) powered sports handicapping assistant today.
We are pleased to announce the launch of winnerswaygers.com in a free beta mode today thus expanding our AI's ability into sports handicapping. IEC's WITech division plans to expand the service quickly into a subscription based model featuring all major sports using the popularity of the NFL football and fantasy betting season as a catalyst to make users aware of the service.
The AI is currently used by professional handicappers that helped to develop the tools and datasets for the AI. WITech is transforming the current complex model into a user friendly service that will appeal to all.
Current plans are to launch in phases starting with a beta mode offering users the ability to sign up for the service for free. Upon the start of the NFL season in September 2024 users will begin receiving handicapping information from the AI to assist in their decision making.
Our goal after beta is to launch our paid subscription service featuring an interactive sports handicapping bot in Mid October 2024 along with an expansion into Hockey and Basketball. We will be offering a discount to any users of the beta version who wish to upgrade at that time.
We are planning in Q4 of 2024 to begin charging $77 per league selected, for example NFL, and will offer an all sports league package for $247 per year/season. As previously indicated there will be a discount for beta members. At that time the beta version will become a free weekly newsletter featuring one pick to allow potential paid subscribers to see how the service works. We have been seeing massive interest in this service and feel we will have thousands of subscribers as the paid service gets rolled out.
Winners Waygers spokesperson Marrion Lewis stated, "We are excited offer the service to the mainstream. For far too long only professionals have had access to the complex data used to make more accurate sports bets. We plan to change the game. The NFL is the most popular sport to bet, so it is fitting to use it for our launch. I'm personally rooting for the chiefs, but we'll let the AI decide."
IDVV board member Ray Valdez stated, "This is the first expansion of the company into adult related, and more importantly recession resilient sectors. With the potential of many thousands of subscribers we are looking forward to discussing winners waygers along with other opportunities the company is pursuing shortly."
Winners Waygers Video
https://vimeo.com/999064151?share=copy
Relevant Links
https://www.americangaming.org/resources/economic-impact-of-legalized-sports-betting/
https://www.statista.com/topics/10895/fantasy-sports-in-the-us/#topicOverview
https://www.espn.com/nfl/story/_/id/39469575/americans-expected-bet-231b-super-bowl-lviii
We encourage everyone to follow us.
Twitter
https://twitter.com/IDVVcorp
Website(s)
https://witech.ai
https://IDVVCORP.COM
About Us
International Endeavors Corporation ("IEC") is a technology holdings company.
The Company currently is reporting its financial information on OTCMarkets.
Our filings can be seen at https://www.otcmarkets.com.
Disclaimer
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
International Endeavors Corporation
Phone:833-705-0022
Email: otc@idvvcorp.com
SOURCE: International Endeavors Corporation, Inc.
https://images.newsfilecorp.com/files/10187/220044_9ae4a1780431c9ef_logo.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220044
SOURCE International Endeavors Corporation
https://api.newsfilecorp.com/newsinfo/220044/130
$GDHG: Golden Heaven Group Holdings Ltd. Announces Financial Results for the First Half of Fiscal Year 2024
News Link:
https://www.prnewswire.com/news-releases/golden-heaven-group-holdings-ltd-announces-financial-results-for-the-first-half-of-fiscal-year-2024-302210279.html#:~:text=The%20total%20revenue%20decreased%20by,in%20the%20First%20Half%202024.
$GDHG: Golden Heaven Group Holdings Ltd. Announces Financial Results for the First Half of Fiscal Year 2024
News Link:
https://www.prnewswire.com/news-releases/golden-heaven-group-holdings-ltd-announces-financial-results-for-the-first-half-of-fiscal-year-2024-302210279.html#:~:text=The%20total%20revenue%20decreased%20by,in%20the%20First%20Half%202024.
$NAHD Video Profile: Join Olenox Corp ($NAHD) as CEO Michael McLaren discusses Olenox Corp's groundbreaking tech that's reshaping the energy sector. Find out how they're transforming neglected oil and gas sites into sustainable assets, all while prioritizing both the environment and community well-being.
$NAHD Video Profile: Join Olenox Corp ($NAHD) as CEO Michael McLaren discusses Olenox Corp's groundbreaking tech that's reshaping the energy sector. Find out how they're transforming neglected oil and gas sites into sustainable assets, all while prioritizing both the environment and community well-being.
$GDHG: Golden Heaven Group Holdings Ltd. Announces Financial Results for the First Half of Fiscal Year 2024
News Link:
https://www.prnewswire.com/news-releases/golden-heaven-group-holdings-ltd-announces-financial-results-for-the-first-half-of-fiscal-year-2024-302210279.html#:~:text=The%20total%20revenue%20decreased%20by,in%20the%20First%20Half%202024.
$GDHG: Golden Heaven Group Holdings Ltd. Announces Financial Results for the First Half of Fiscal Year 2024
News Link:
https://www.prnewswire.com/news-releases/golden-heaven-group-holdings-ltd-announces-financial-results-for-the-first-half-of-fiscal-year-2024-302210279.html#:~:text=The%20total%20revenue%20decreased%20by,in%20the%20First%20Half%202024.
$IDVV News: Winners Waygers AI Powered Sports Handicapping Assistant Launched In Beta
Carlsbad, California--(Newsfile Corp. - August 15, 2024) - International Endeavors Corp. (OTC Pink: IDVV) ("IEC"), a technology holdings company announced that its WITech.ai division launched a one of a kind artificial intelligence (AI) powered sports handicapping assistant today.
We are pleased to announce the launch of winnerswaygers.com in a free beta mode today thus expanding our AI's ability into sports handicapping. IEC's WITech division plans to expand the service quickly into a subscription based model featuring all major sports using the popularity of the NFL football and fantasy betting season as a catalyst to make users aware of the service.
The AI is currently used by professional handicappers that helped to develop the tools and datasets for the AI. WITech is transforming the current complex model into a user friendly service that will appeal to all.
Current plans are to launch in phases starting with a beta mode offering users the ability to sign up for the service for free. Upon the start of the NFL season in September 2024 users will begin receiving handicapping information from the AI to assist in their decision making.
Our goal after beta is to launch our paid subscription service featuring an interactive sports handicapping bot in Mid October 2024 along with an expansion into Hockey and Basketball. We will be offering a discount to any users of the beta version who wish to upgrade at that time.
We are planning in Q4 of 2024 to begin charging $77 per league selected, for example NFL, and will offer an all sports league package for $247 per year/season. As previously indicated there will be a discount for beta members. At that time the beta version will become a free weekly newsletter featuring one pick to allow potential paid subscribers to see how the service works. We have been seeing massive interest in this service and feel we will have thousands of subscribers as the paid service gets rolled out.
Winners Waygers spokesperson Marrion Lewis stated, "We are excited offer the service to the mainstream. For far too long only professionals have had access to the complex data used to make more accurate sports bets. We plan to change the game. The NFL is the most popular sport to bet, so it is fitting to use it for our launch. I'm personally rooting for the chiefs, but we'll let the AI decide."
IDVV board member Ray Valdez stated, "This is the first expansion of the company into adult related, and more importantly recession resilient sectors. With the potential of many thousands of subscribers we are looking forward to discussing winners waygers along with other opportunities the company is pursuing shortly."
Winners Waygers Video
https://vimeo.com/999064151?share=copy
Relevant Links
https://www.americangaming.org/resources/economic-impact-of-legalized-sports-betting/
https://www.statista.com/topics/10895/fantasy-sports-in-the-us/#topicOverview
https://www.espn.com/nfl/story/_/id/39469575/americans-expected-bet-231b-super-bowl-lviii
We encourage everyone to follow us.
Twitter
https://twitter.com/IDVVcorp
Website(s)
https://witech.ai
https://IDVVCORP.COM
About Us
International Endeavors Corporation ("IEC") is a technology holdings company.
The Company currently is reporting its financial information on OTCMarkets.
Our filings can be seen at https://www.otcmarkets.com.
Disclaimer
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
International Endeavors Corporation
Phone:833-705-0022
Email: otc@idvvcorp.com
SOURCE: International Endeavors Corporation, Inc.
https://images.newsfilecorp.com/files/10187/220044_9ae4a1780431c9ef_logo.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220044
SOURCE International Endeavors Corporation
https://api.newsfilecorp.com/newsinfo/220044/130
$YGMZ: Contract Awarded to MingZhu's Feipeng Subsidiary from Sinotrans Logistics for Vehicle Transport
SHENZHEN, China, July 10, 2024 /PRNewswire/ -- MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") (Nasdaq: YGMZ), an elite provider of logistics and transportation services to businesses, today announced Sinotrans Logistics Northwest Co., Ltd. ("Sinotrans Logistics" https://logistics.sinotrans.com/) awarded a major 1-year vehicle transport contract to MingZhu's subsidiary Shanghai Feipeng Supply Chain Management Co., Ltd. ("Feipeng").
Under the contract, Feipeng will provide automobile transportation service to Sinotrans Logistics through June 2025. Feipeng will be transporting new energy commercial vehicles for Sinotrans Logistics from its customer Zhejiang Geely Holding Group Co., Ltd.'s nationwide factory to agreed-upon destinations across China. Sinotrans Logistics contracted Feipeng to initially provide 100 trucks on the route during the contract period.
Mr. Jinlong Yang, Chairman and Chief Executive Officer of MingZhu Logistics Holdings Limited, commented, "This showcase win demonstrates our capacity to flawlessly support high-profile customers and positively impacts our business financially. This capability is fueling significant momentum and growth for our company. Moreover, this achievement is a substantial win for our investors, reflecting our dedication to unlocking greater value."
Feipeng Logistics, a subsidiary of MingZhu, was founded in 2014. It provides integrated solutions to the logistics supply chain that reduce costs and increase efficiency. Feipeng Logistics is based in China's Xinjiang Autonomous Region, a strategically important location for manufacturing and commerce.
Sinotrans Logistics Co., Ltd. ("Sinotrans Logistics" https://logistics.sinotrans.com/) is the flagship of the contract logistics sector of Sinotrans Co., Ltd., a unified operating platform for the development of modern logistics business by China Merchants Group Co., Ltd., and is also one of the largest contract logistics companies in China. It is listed on both the Hong Kong and Shanghai Stock Exchanges. Sinotrans Logistics operates five business platforms: international supply chain, automobile transport, smart warehousing, multimodal transport and supply chain finance, focusing on the "5+1" industry fields of pan-consumer goods, technology electronics, medical health, automobile and industrial manufacturing, new retail and special logistics. It has carried out in-depth and extensive cooperation with many Fortune 500 customers and government agencies such as Procter & Gamble, Mobil, GE, Philips, Mars, Nestlé, Metro, Kimberly-Clark, BLACKWOODS, Kmart, etc., and has won widespread praise from customers.
About MingZhu Logistics Holdings Limited (Nasdaq: YGMZ)
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company's regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors' fleets. For more information, please visit https://ir.szygmz.com/.
Forward-Looking Statements
The statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events, expected performance, assumptions and any other statements of fact that have not occurred. Any statements that contain the words "may", "will", "want", "should", "believe", "expect", "anticipate", "estimate", "calculate" or similar statements that are not factual in nature are to be considered forward-looking statements. Actual results may differ materially from historical results or from those expressed in these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, the Company's strategic objectives, the Company's future plans, market demand and user acceptance of the Company's products or services, technological advances, economic trends, the growth of the trucking services market in China, the Company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, fluctuations in China's macroeconomic conditions, and the risks and assumptions disclosed in the Company's reports provided to the CSRC (China Security Regulatory Commission). The potential acquisition involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements including but not limited to statements about the potential benefits of the potential acquisition; the anticipated timing of closing of the potential acquisition (including failure to obtain necessary regulatory approvals) and the possibility that the potential acquisition does not close; risks related to the ability to realize the anticipated benefits of the potential acquisition, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; the risk that the businesses will not be integrated successfully; disruption from the potential acquisition making it more difficult to maintain business and operational relationships; negative effects of announcing the potential acquisition or the consummation of the potential acquisition on the market price of our common stock or operating results; costs associated with the potential acquisition; unknown liabilities; and the risk of litigation and/or regulatory actions related to the potential acquisition. For these and other related reasons, we advise investors not to place any reliance on these forward-looking statements, and we urge investors to review the Company's relevant SEC filings for additional factors that may affect the Company's future results of operations. The Company undertakes no obligation to publicly revise these forward-looking statements subsequent to the filing of these documents as a result of changes in particular events or circumstances.
https://c212.net/c/img/favicon.png?sn=CN58141&sd=2024-07-10 View original content:https://www.prnewswire.com/news-releases/contract-awarded-to-mingzhus-feipeng-subsidiary-from-sinotrans-logistics-for-vehicle-transport-302192718.html
SOURCE MingZhu Logistics Holdings Limited
$YGMZ: Contract Awarded to MingZhu's Feipeng Subsidiary from Sinotrans Logistics for Vehicle Transport
SHENZHEN, China, July 10, 2024 /PRNewswire/ -- MingZhu Logistics Holdings Limited ("MingZhu" or the "Company") (Nasdaq: YGMZ), an elite provider of logistics and transportation services to businesses, today announced Sinotrans Logistics Northwest Co., Ltd. ("Sinotrans Logistics" https://logistics.sinotrans.com/) awarded a major 1-year vehicle transport contract to MingZhu's subsidiary Shanghai Feipeng Supply Chain Management Co., Ltd. ("Feipeng").
Under the contract, Feipeng will provide automobile transportation service to Sinotrans Logistics through June 2025. Feipeng will be transporting new energy commercial vehicles for Sinotrans Logistics from its customer Zhejiang Geely Holding Group Co., Ltd.'s nationwide factory to agreed-upon destinations across China. Sinotrans Logistics contracted Feipeng to initially provide 100 trucks on the route during the contract period.
Mr. Jinlong Yang, Chairman and Chief Executive Officer of MingZhu Logistics Holdings Limited, commented, "This showcase win demonstrates our capacity to flawlessly support high-profile customers and positively impacts our business financially. This capability is fueling significant momentum and growth for our company. Moreover, this achievement is a substantial win for our investors, reflecting our dedication to unlocking greater value."
Feipeng Logistics, a subsidiary of MingZhu, was founded in 2014. It provides integrated solutions to the logistics supply chain that reduce costs and increase efficiency. Feipeng Logistics is based in China's Xinjiang Autonomous Region, a strategically important location for manufacturing and commerce.
Sinotrans Logistics Co., Ltd. ("Sinotrans Logistics" https://logistics.sinotrans.com/) is the flagship of the contract logistics sector of Sinotrans Co., Ltd., a unified operating platform for the development of modern logistics business by China Merchants Group Co., Ltd., and is also one of the largest contract logistics companies in China. It is listed on both the Hong Kong and Shanghai Stock Exchanges. Sinotrans Logistics operates five business platforms: international supply chain, automobile transport, smart warehousing, multimodal transport and supply chain finance, focusing on the "5+1" industry fields of pan-consumer goods, technology electronics, medical health, automobile and industrial manufacturing, new retail and special logistics. It has carried out in-depth and extensive cooperation with many Fortune 500 customers and government agencies such as Procter & Gamble, Mobil, GE, Philips, Mars, Nestlé, Metro, Kimberly-Clark, BLACKWOODS, Kmart, etc., and has won widespread praise from customers.
About MingZhu Logistics Holdings Limited (Nasdaq: YGMZ)
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company's regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors' fleets. For more information, please visit https://ir.szygmz.com/.
Forward-Looking Statements
The statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events, expected performance, assumptions and any other statements of fact that have not occurred. Any statements that contain the words "may", "will", "want", "should", "believe", "expect", "anticipate", "estimate", "calculate" or similar statements that are not factual in nature are to be considered forward-looking statements. Actual results may differ materially from historical results or from those expressed in these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, the Company's strategic objectives, the Company's future plans, market demand and user acceptance of the Company's products or services, technological advances, economic trends, the growth of the trucking services market in China, the Company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, fluctuations in China's macroeconomic conditions, and the risks and assumptions disclosed in the Company's reports provided to the CSRC (China Security Regulatory Commission). The potential acquisition involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements including but not limited to statements about the potential benefits of the potential acquisition; the anticipated timing of closing of the potential acquisition (including failure to obtain necessary regulatory approvals) and the possibility that the potential acquisition does not close; risks related to the ability to realize the anticipated benefits of the potential acquisition, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; the risk that the businesses will not be integrated successfully; disruption from the potential acquisition making it more difficult to maintain business and operational relationships; negative effects of announcing the potential acquisition or the consummation of the potential acquisition on the market price of our common stock or operating results; costs associated with the potential acquisition; unknown liabilities; and the risk of litigation and/or regulatory actions related to the potential acquisition. For these and other related reasons, we advise investors not to place any reliance on these forward-looking statements, and we urge investors to review the Company's relevant SEC filings for additional factors that may affect the Company's future results of operations. The Company undertakes no obligation to publicly revise these forward-looking statements subsequent to the filing of these documents as a result of changes in particular events or circumstances.
https://c212.net/c/img/favicon.png?sn=CN58141&sd=2024-07-10 View original content:https://www.prnewswire.com/news-releases/contract-awarded-to-mingzhus-feipeng-subsidiary-from-sinotrans-logistics-for-vehicle-transport-302192718.html
SOURCE MingZhu Logistics Holdings Limited
$IDVV News: Winners Waygers AI Powered Sports Handicapping Assistant Launched In Beta
Carlsbad, California--(Newsfile Corp. - August 15, 2024) - International Endeavors Corp. (OTC Pink: IDVV) ("IEC"), a technology holdings company announced that its WITech.ai division launched a one of a kind artificial intelligence (AI) powered sports handicapping assistant today.
We are pleased to announce the launch of winnerswaygers.com in a free beta mode today thus expanding our AI's ability into sports handicapping. IEC's WITech division plans to expand the service quickly into a subscription based model featuring all major sports using the popularity of the NFL football and fantasy betting season as a catalyst to make users aware of the service.
The AI is currently used by professional handicappers that helped to develop the tools and datasets for the AI. WITech is transforming the current complex model into a user friendly service that will appeal to all.
Current plans are to launch in phases starting with a beta mode offering users the ability to sign up for the service for free. Upon the start of the NFL season in September 2024 users will begin receiving handicapping information from the AI to assist in their decision making.
Our goal after beta is to launch our paid subscription service featuring an interactive sports handicapping bot in Mid October 2024 along with an expansion into Hockey and Basketball. We will be offering a discount to any users of the beta version who wish to upgrade at that time.
We are planning in Q4 of 2024 to begin charging $77 per league selected, for example NFL, and will offer an all sports league package for $247 per year/season. As previously indicated there will be a discount for beta members. At that time the beta version will become a free weekly newsletter featuring one pick to allow potential paid subscribers to see how the service works. We have been seeing massive interest in this service and feel we will have thousands of subscribers as the paid service gets rolled out.
Winners Waygers spokesperson Marrion Lewis stated, "We are excited offer the service to the mainstream. For far too long only professionals have had access to the complex data used to make more accurate sports bets. We plan to change the game. The NFL is the most popular sport to bet, so it is fitting to use it for our launch. I'm personally rooting for the chiefs, but we'll let the AI decide."
IDVV board member Ray Valdez stated, "This is the first expansion of the company into adult related, and more importantly recession resilient sectors. With the potential of many thousands of subscribers we are looking forward to discussing winners waygers along with other opportunities the company is pursuing shortly."
Winners Waygers Video
https://vimeo.com/999064151?share=copy
Relevant Links
https://www.americangaming.org/resources/economic-impact-of-legalized-sports-betting/
https://www.statista.com/topics/10895/fantasy-sports-in-the-us/#topicOverview
https://www.espn.com/nfl/story/_/id/39469575/americans-expected-bet-231b-super-bowl-lviii
We encourage everyone to follow us.
Twitter
https://twitter.com/IDVVcorp
Website(s)
https://witech.ai
https://IDVVCORP.COM
About Us
International Endeavors Corporation ("IEC") is a technology holdings company.
The Company currently is reporting its financial information on OTCMarkets.
Our filings can be seen at https://www.otcmarkets.com.
Disclaimer
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
International Endeavors Corporation
Phone:833-705-0022
Email: otc@idvvcorp.com
SOURCE: International Endeavors Corporation, Inc.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220044
SOURCE International Endeavors Corporation
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$IDVV News: Winners Waygers AI Powered Sports Handicapping Assistant Launched In Beta
Carlsbad, California--(Newsfile Corp. - August 15, 2024) - International Endeavors Corp. (OTC Pink: IDVV) ("IEC"), a technology holdings company announced that its WITech.ai division launched a one of a kind artificial intelligence (AI) powered sports handicapping assistant today.
We are pleased to announce the launch of winnerswaygers.com in a free beta mode today thus expanding our AI's ability into sports handicapping. IEC's WITech division plans to expand the service quickly into a subscription based model featuring all major sports using the popularity of the NFL football and fantasy betting season as a catalyst to make users aware of the service.
The AI is currently used by professional handicappers that helped to develop the tools and datasets for the AI. WITech is transforming the current complex model into a user friendly service that will appeal to all.
Current plans are to launch in phases starting with a beta mode offering users the ability to sign up for the service for free. Upon the start of the NFL season in September 2024 users will begin receiving handicapping information from the AI to assist in their decision making.
Our goal after beta is to launch our paid subscription service featuring an interactive sports handicapping bot in Mid October 2024 along with an expansion into Hockey and Basketball. We will be offering a discount to any users of the beta version who wish to upgrade at that time.
We are planning in Q4 of 2024 to begin charging $77 per league selected, for example NFL, and will offer an all sports league package for $247 per year/season. As previously indicated there will be a discount for beta members. At that time the beta version will become a free weekly newsletter featuring one pick to allow potential paid subscribers to see how the service works. We have been seeing massive interest in this service and feel we will have thousands of subscribers as the paid service gets rolled out.
Winners Waygers spokesperson Marrion Lewis stated, "We are excited offer the service to the mainstream. For far too long only professionals have had access to the complex data used to make more accurate sports bets. We plan to change the game. The NFL is the most popular sport to bet, so it is fitting to use it for our launch. I'm personally rooting for the chiefs, but we'll let the AI decide."
IDVV board member Ray Valdez stated, "This is the first expansion of the company into adult related, and more importantly recession resilient sectors. With the potential of many thousands of subscribers we are looking forward to discussing winners waygers along with other opportunities the company is pursuing shortly."
Winners Waygers Video
https://vimeo.com/999064151?share=copy
Relevant Links
https://www.americangaming.org/resources/economic-impact-of-legalized-sports-betting/
https://www.statista.com/topics/10895/fantasy-sports-in-the-us/#topicOverview
https://www.espn.com/nfl/story/_/id/39469575/americans-expected-bet-231b-super-bowl-lviii
We encourage everyone to follow us.
Twitter
https://twitter.com/IDVVcorp
Website(s)
https://witech.ai
https://IDVVCORP.COM
About Us
International Endeavors Corporation ("IEC") is a technology holdings company.
The Company currently is reporting its financial information on OTCMarkets.
Our filings can be seen at https://www.otcmarkets.com.
Disclaimer
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
International Endeavors Corporation
Phone:833-705-0022
Email: otc@idvvcorp.com
SOURCE: International Endeavors Corporation, Inc.
https://images.newsfilecorp.com/files/10187/220044_9ae4a1780431c9ef_logo.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220044
SOURCE International Endeavors Corporation
https://api.newsfilecorp.com/newsinfo/220044/130
$NAHD Video Profile: Join Olenox Corp ($NAHD) as CEO Michael McLaren discusses Olenox Corp's groundbreaking tech that's reshaping the energy sector. Find out how they're transforming neglected oil and gas sites into sustainable assets, all while prioritizing both the environment and community well-being.
$NAHD Video Profile: Join Olenox Corp ($NAHD) as CEO Michael McLaren discusses Olenox Corp's groundbreaking tech that's reshaping the energy sector. Find out how they're transforming neglected oil and gas sites into sustainable assets, all while prioritizing both the environment and community well-being.
$NRXP News: NRx Pharmaceuticals (NASDAQ:NRXP) Reports Second Quarter and Year to Date 2024 Financial Results and Provides Business Update
Company is now funded for and focused on New Drug Applications (NDAs) for NRX-100 (ketamine) and NRX-101
Audit of HOPE Therapeutics is now complete, SEC filing of spinout this quarter
Key Milestones
Secured $10.8 - $16.3 million in convertible-debt funding from an institutional investor; funds targeted to support FDA New Drug Applications for NRX-100 (ketamine) and NRX-101. Replacement funding entails substantial reduction in interest rate, conversion discount, and other financial terms compared to prior debt
Retirement of Streeterville debt and settlement of litigation at a substantial discount to litigation claims
NRX-100 NDA for suicidal depression based on data from four clinical trials in nearly 1000 participants demonstrating highly significant efficacy compared to placebo, active comparator, and electroshock therapy
Ketamine findings have just been confirmed in published 43,000 person cohort study1
Phase 2b/3 trial of NRX-101 in suicidal patients with bipolar depression demonstrated depression efficacy comparable to standard of care and significant reduction of akathisia (P=0.025) and time to sustained remission from suicidality (P=.05). Presented at the annual meeting of the American Society of Clinical Psychopharmacology. Profile demonstrates possible best in class bipolar depression medication
Company plans to file a New Drug Application (NDA) for Accelerated Approval under Breakthrough Therapy Designation and Priority Review of NRX-101 in treatment of bipolar depression in people akathisia or suicidality, based on the Phase 2b/3 and STABIL-B data
Stability data continues to mature on the three manufacturing lots required for the NRX-100 (IV ketamine) NDA filing and the Company announced alignment with FDA on its Pediatric Study Plan for NRX-100, also a requirement for filing an NDA
HOPE Therapeutics, the Company's wholly owned subsidiary, is focused on developing a best-in-class network of clinics that currently offer ketamine and other lifesaving therapies to patients with suicidal depression and related disorders. HOPE is planned to be spun out as a separate company to be owned by NRx, current NRx shareholders, and new investors. This effort will be funded apart from NRx.
Appointed Dr. Dennis McBride, a Neuroscience, Information Technology and Medical Technology Veteran, to its Board of Directors
Management to host a conference call August 14, 2024, at 4:30 PM ET
RADNOR, Pa., Aug. 14, 2024 /PRNewswire/ -- NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) ("NRx Pharmaceuticals", the "Company"), a clinical-stage biopharmaceutical company, today announced its financial results for the quarter and year to date ended June 30, 2024, and provided a business update.
"NRx has continued to execute on our plans to file two NDA's this year. As we near maturation of NRX-100 stability data, we also achieved an important milestone in aligning with FDA on our pediatric study plan. Together with strong clinical data from four clinical trials, we believe this application will be quite robust. Additionally, the important data generated from two trials conducted by NRx with NRX-101 in suicidal bipolar depression sets the stage for a second NDA for Accelerated Approval later this year. Finally, work continues to spin out Hope Therapeutics and distribute shares to NRx stockholders. We believe reaching these important milestones will generate significant value in the company and reward our shareholders," said Jonathan Javitt, MD, MPH, Chairman and Chief Scientist of NRx Pharmaceuticals. "Facilitated by funding to allow us to achieve these goals and while replacing the prior expensive and toxic debt on our balance sheet, we are in a position to deliver therapy that can meet considerable unmet medical need in millions of patients across the country. We are dedicated to bringing hope to life and I thank our team and shareholders for their ongoing hard work and support."
Second Quarter Clinical, Regulatory and Corporate Highlights
Funding for FDA filings of NRX-100 and NRX-101
The Company has executed a Convertible Debt instrument with Anson Funds of Toronto for $10.8 - $16.3 million in funding designed to retire existing debt and to support FDA New Drug filings of NRX-100 and NRX-101 in the fourth quarter of 2024. Terms have been disclosed in 8K filings but are at an interest rate and conversion rate substantially lower than current corporate indebtedness. The new funding has no provision for "extraordinary redemptions" triggered by appreciation in NRx share price.
Retirement of current debt and settlement of litigation
Concurrent with the Anson investment, the Company has settled its outstanding litigation with Streeterville Capital, LLC at a substantial discount to the amounts claimed in litigation.
Progress towards an NDA for NRX-100 (IV ketamine) in the treatment of suicidal depression
Intravenous ketamine has now become a standard of care for acute treatment of suicidal depression, in the absence of an FDA-labeled product. Intranasal Esketamine is approved by the FDA (SPRAVATO®) but has not demonstrated a benefit on suicidality and is not approved for use in patients with bipolar depression. Attempts to use intranasal racemic ketamine for suicidal depression have failed.
The Company has formed data-sharing partnerships to license clinical trial data from a French Government-funded trial and two NIH-funded trials all of which demonstrate efficacy of racemic Intravenous ketamine against depression and two of which demonstrate statistically significant benefit vs suicidality. The Company's role is to reformat these data into the required presentation required for review by the FDA.
In contrast to nasal ketamine, Intravenous racemic ketamine demonstrates dramatic and immediate reduction of suicidality in patients with both Major Depressive Disorder and Bipolar Depression. Grunebaum and colleagues demonstrated a rapid and statistically significant reduction in Suicidal Ideation (SSI) at day 1 (p=0.0003) and in depression (P=0.0234), as measured by the Profile of Mood States (POMS) among patients randomized to IV Ketamine compared to those randomized to midazolam. This trial was published in the American Journal of Psychiatry Grunebaum, et.al.2. Abbar and colleagues similarly published 84% remission from suicidality on the Columbia Suicide Severity Rating Scale (C-SSRS) in patients treated with ketamine, vs. 28% in those treated with placebo (P<.0001). This trial was published in the British Medical Journal3. Data are expected to be transmitted to FDA by in 2024.
In November 2023, the Company initiated manufacture of ketamine together with Nephron Pharmaceuticals, Inc. (West Columbia, SC) to develop a single patient presentation of ketamine. Nine months of real-time stability is ongoing, the minimum stability time required for a New Drug Application. This presentation of ketamine does not contain the preservative included in multi-dose vials, (Benzanthonium Chloride), that is designed to preserve sterility in the vial when multiple doses are drawn for multiple patients. The Company is not aware of any data to support the safety of this preservative for repeated IV administration. Data were collected 20 years ago that demonstrated the toxic effect of this class of preservatives when applied repeatedly to the surface of the eye, which led to the current generation of preservative-free eye drops. NRX-100 will therefore be launched as a preservative-free presentation.
A long-term challenge with ketamine is that the current formulation (KETALAR®) is highly acidic. While it is suitable for intravenous use, it cannot be administered subcutaneously. In March 2024 the Company demonstrated the formulation of a pH neutral patentable form of IV ketamine that it anticipates will have widespread applicability both in treatment of depression and chronic pain.
Development of NRX-101 for Suicidal Treatment-Resistant Suicidal Bipolar Depression
The Company presented final data from the recently completed phase 2b/3 trial of NRX-101 in suicidal bipolar depression4 at the American Society of Clinical Psychopharmacology's annual meeting. These data demonstrated a significantly improved safety profile versus the standard of care, as demonstrated by a clinically significant reduction in akathisia (P=0.025) and time to sustained remission from suicidality (P=0.05). Akathisia is an adverse event seen with antidepressant medications considered by many experts to be a precursor to suicide. Given the vital need for safer medications in this at-risk population, we plan to submit an NDA for Accelerated Approval to the US FDA for treatment of bipolar depression patients with suicidality or akathisia, based on these data as well as additional data from our STABIL-B5 trial.
Incorporation of HOPE Therapeutics
In February we first presented the contours of HOPE Therapeutics, a subsidiary that will focus on the delivery of advance psychiatric treatments, including ketamine-focused treatment for depression and suicidality. Unlike the core business of NRx Pharmaceuticals, that is focused on biotechnology Research and Development, HOPE is organized around consolidating existing best-in-class clinics into a nationwide network. This has been done previously and without much success with clinics that are not necessarily psychiatrist-led. As currently designed, the HOPE consolidation is likely to be funded as a separate entity, through bond offerings and, thus, to be non-dilutive to NRx shareholders. Over the past quarter, HOPE leadership has identified the clinics that are most likely to participate in the first $100 million consolidation, has completed the audit required for a public listing of HOPE shares, and has identified appropriate underwriters for a future bond offering.
With Hope ownership as an asset of NRx, this will further strengthen the NRx balance sheet and aims to further enhance NRx shareholder value.
NRX-101 for Treatment of Chronic Pain:
In 2023, the Company licensed US Patent 8,653,120 for the use of DCS in chronic pain and filed a now-accepted Investigational New Drug (IND) application with the FDA to initiate commercial drug development of NRX-101 in chronic pain. Data lock has now been achieved in a 200-person randomized prospective trial funded by the US DOD (NCT 03535688) in which patients with chronic pain were randomly assigned to DCS 400mg/day vs. placebo. Should these results support efficacy of DCS in the treatment of chronic low back pain, they are expected to provide a Breakthrough Therapy path towards treatment of chronic pain with DCS and DCS-containing medicines.
Treatment of Urinary Tract Infection (UTI) and Urosepsis:
Although treatment of UTI is quite different from use of NRX-101 to treat Central Nervous System disorders, D-cycloserine was originally developed as an antibiotic because of its role in disrupting the cell wall of certain pathogens. During Q3 2023, NRx tested NRX-101 and its components against resistant pathogens that appear on the Congressionally mandated Qualified Infectious Disease Product (QIDP) list and proved in vitro effectiveness against antibiotic-resistant E. coli, Pseudomonas, and Acinetobacter. Accordingly, NRx was granted QIDP designation, Fast Track Designation, and Priority Review by the US FDA in January 2024.
In recent years, increased antibiotic resistance to common pathogens that cause urinary tract infections and urosepsis (i.e., sepsis originating in the urinary tract) has resulted in a marked increase in cUTI, hospitalization, and death from urosepsis. The US Center for Disease Control and Prevention reports that more than 1.7 million Americans contract sepsis each year, of whom at least 350,000 die during their hospitalization or are discharged to hospice (CDC Sepsis Ref.)6. There are approximately 3 million patients per year who contract cUTI in the US annually (Lodise, et. al.)7. Additionally, should NRX-101 succeed in clinical trials, the Company will consider developing a follow-on product that is anticipated to achieve another 20 years of patent exclusivity.
A key challenge in the treatment of cUTI is the tendency of advanced antibiotics to cause C. difficile infection, which is fatal in 10% of those who contract it over the age of 65 and results in prolonged hospitalization in many more. The Company recently announced data demonstrating that NRX-101 does not compromise the intestinal microbiome, unlike common antibiotics including Clindamycin and Ciprofloxacin. Should these findings be documented in human patients, NRX-101 would represent the only treatment for cUTI that does not cause C. Difficile infection.
In The Company does not anticipate funding this initiative with core NRx assets and is exploring structures for partnership opportunities. Should the Company or its partners succeed in serving 10% of the cUTI market, the Company believes that the revenue from NRX-101 has the potential to be hundreds of million annually, based on 3 million cases per year in the US and potential pricing of over $3,500/course of therapy.
Financial Results for the Quarter and Year to Date 2024
For the three months ended June 30, 2024, we at NRx Pharmaceuticals reduced our net loss from $8.7 million in the second quarter of 2023 to $7.9 million in 2024, representing nearly a 10% improvement year over year. For that same period, we reduced research and development expenses from $3.9 million in 2023 to $2.8 million in 2024. The $1.1 million decrease is related primarily to a decrease of $2.4 million in clinical trial and development expenses, offset by an increase of $1.3m related to the Alvogen warrants. Also in that 3 month period we recorded an increase in general and administrative expenses, from $4.1 million in 2023 to $4.2 million in 2024. The increase of $0.1 million is related primarily to an increase in consultants and legal fees partially offset by lower insurance expenses.
For the six months ended June 30, 2024, NRx Pharmaceuticals reduced its net loss to $14.4 million compared to $19.8 million in the prior year. These efficiencies represent an improvement in net loss of $5.4 million year over and a $1.32, or 47%, improvement in net loss per share year over year. Over that six-month period we recorded $4.6 million of research and development expenses compared to $7.5 million for the same period in 2023 representing a 39% decrease year over year. The decrease of $2.9 million is related primarily to a decrease of $4.1 million in clinical trial and development expenses, $0.3 million related to fees paid to regulatory and process development consultants while offset by $1.3 million related to the Alvogen warrants and $0.4 million related to fees paid to regulatory and development consultants. Also in that six-month period, we decreased G&A by $1.4 million, from $9.9 million in 2023 to $8.5 million in 2024, nearly a 15% decrease year over year.
As of June 30, 2024, we had $1.9 million in cash and cash equivalents. As previously stated, we recently announced we secured up to $16.3 Million Senior Secured Debt Financing from Anson Funds. This financing is expected to support 2024 filing of New Drug Applications for NRX-100 (ketamine) and NRX-101 and to support launch of HOPE Therapeutics as well as retire historical debt with more favorable terms, and a lower annual interest rate.
NRx continues to implement operational efficiencies to extend cash runway and maintain focus on our path to generating revenue and value for our shareholders.
Please see detailed financials on our Form 10-Q, filed with the SEC and available on our website.
Conference Call and Webcast Details
A live webcast of the conference call will be available on the Company's website at 4:30 p.m. ET today, at https://ir.nrxpharma.com/events. An archive of the webcast will be available on the Company's website for 30 days. Participants that are unable to join the webcast can access the conference call via telephone by dialing domestically 1-800-717-1738 or internationally 1-646-307-1865.
About NRx Pharmaceuticals, Inc.
NRx Pharmaceuticals is a clinical-stage biopharmaceutical company developing therapeutics based on its NMDA platform for the treatment of central nervous system disorders, specifically suicidal bipolar depression, chronic pain, and PTSD. The Company is developing NRX-101, an FDA-designated investigational Breakthrough Therapy for suicidal treatment-resistant bipolar depression and chronic pain. NRx plans to file an NDA for Accelerated Approval for NRX-101 in patients with bipolar depression and suicidality or akathisia. NRX-101 additionally has potential to act as a non-opioid treatment for chronic pain, as well as a treatment for complicated UTI.
NRx has recently announced plans to submit a New Drug Application for NRX-100 (IV ketamine) for the treatment of suicidal depression, based on results of well-controlled clinical trials conducted under the auspices of the US National Institutes of Health and newly obtained data from French health authorities, licensed under a data sharing agreement. NRx was awarded Fast Track Designation for development of ketamine (NRX-100) by the US FDA as part of a protocol to treat patients with acute suicidality.
About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (http://www.hopetherapeutics.com) is a care delivery company developing a best-in-class network of clinics that currently offer ketamine and other lifesaving therapies to patients with suicidal depression and related disorders, together with a digital therapeutic-enabled platform designed to augment and preserve the clinical benefit of NMDA-targeted drug therapy.
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, among others, statements regarding the proposed public offering and the timing and the use of the proceeds from the offering. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company's operations, results of operations, growth strategy and liquidity. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. Except as may be required by applicable law, The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.
1 Pan, Y., Gorenflo, M.P., Davis, P.B. et al. Suicidal ideation following ketamine prescription in patients with recurrent major depressive disorder: a nation-wide cohort study. Transl Psychiatry 14, 327 (2024). https://doi.org/10.1038/s41398-024-03033-4
2 Grunebaum, et. al., Ketamine for Rapid Reduction of Suicidal Thoughts. Am J Psychiatry. 2018 Apr 1: 175(4): 327-335
3 Abbar, et. al. Ketamine for Acute Treatment of Severe Suicidal Ideation, BMJ 2022; 376
4 Nierenberg, et. al., A Randomized, Double-Blind Controlled Comparison of NRX-101 (D-cycloserine/ lurasidone) to Lurasidone for Adults with Bipolar Depression and Subacute Suicidal Ideation or Behavior. Am Soc Clin Psych Annual Meeting 2024.
5 Nierenberg et al. International Journal of Bipolar Disorders (2023) 11:28 https://doi.org/10.1186/s40345-023-00
6 https://www.cdc.gov/sepsis/what-is-sepsis.html
7 Open Forum Infectious Diseases, Volume 9, Issue 7, July 2022, ofac315, https://doi.org/10.1093/ofid/ofac315
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SOURCE NRx Pharmaceuticals, Inc.
$NRXP News: NRx Pharmaceuticals (NASDAQ:NRXP) Reports Second Quarter and Year to Date 2024 Financial Results and Provides Business Update
Company is now funded for and focused on New Drug Applications (NDAs) for NRX-100 (ketamine) and NRX-101
Audit of HOPE Therapeutics is now complete, SEC filing of spinout this quarter
Key Milestones
Secured $10.8 - $16.3 million in convertible-debt funding from an institutional investor; funds targeted to support FDA New Drug Applications for NRX-100 (ketamine) and NRX-101. Replacement funding entails substantial reduction in interest rate, conversion discount, and other financial terms compared to prior debt
Retirement of Streeterville debt and settlement of litigation at a substantial discount to litigation claims
NRX-100 NDA for suicidal depression based on data from four clinical trials in nearly 1000 participants demonstrating highly significant efficacy compared to placebo, active comparator, and electroshock therapy
Ketamine findings have just been confirmed in published 43,000 person cohort study1
Phase 2b/3 trial of NRX-101 in suicidal patients with bipolar depression demonstrated depression efficacy comparable to standard of care and significant reduction of akathisia (P=0.025) and time to sustained remission from suicidality (P=.05). Presented at the annual meeting of the American Society of Clinical Psychopharmacology. Profile demonstrates possible best in class bipolar depression medication
Company plans to file a New Drug Application (NDA) for Accelerated Approval under Breakthrough Therapy Designation and Priority Review of NRX-101 in treatment of bipolar depression in people akathisia or suicidality, based on the Phase 2b/3 and STABIL-B data
Stability data continues to mature on the three manufacturing lots required for the NRX-100 (IV ketamine) NDA filing and the Company announced alignment with FDA on its Pediatric Study Plan for NRX-100, also a requirement for filing an NDA
HOPE Therapeutics, the Company's wholly owned subsidiary, is focused on developing a best-in-class network of clinics that currently offer ketamine and other lifesaving therapies to patients with suicidal depression and related disorders. HOPE is planned to be spun out as a separate company to be owned by NRx, current NRx shareholders, and new investors. This effort will be funded apart from NRx.
Appointed Dr. Dennis McBride, a Neuroscience, Information Technology and Medical Technology Veteran, to its Board of Directors
Management to host a conference call August 14, 2024, at 4:30 PM ET
RADNOR, Pa., Aug. 14, 2024 /PRNewswire/ -- NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) ("NRx Pharmaceuticals", the "Company"), a clinical-stage biopharmaceutical company, today announced its financial results for the quarter and year to date ended June 30, 2024, and provided a business update.
"NRx has continued to execute on our plans to file two NDA's this year. As we near maturation of NRX-100 stability data, we also achieved an important milestone in aligning with FDA on our pediatric study plan. Together with strong clinical data from four clinical trials, we believe this application will be quite robust. Additionally, the important data generated from two trials conducted by NRx with NRX-101 in suicidal bipolar depression sets the stage for a second NDA for Accelerated Approval later this year. Finally, work continues to spin out Hope Therapeutics and distribute shares to NRx stockholders. We believe reaching these important milestones will generate significant value in the company and reward our shareholders," said Jonathan Javitt, MD, MPH, Chairman and Chief Scientist of NRx Pharmaceuticals. "Facilitated by funding to allow us to achieve these goals and while replacing the prior expensive and toxic debt on our balance sheet, we are in a position to deliver therapy that can meet considerable unmet medical need in millions of patients across the country. We are dedicated to bringing hope to life and I thank our team and shareholders for their ongoing hard work and support."
Second Quarter Clinical, Regulatory and Corporate Highlights
Funding for FDA filings of NRX-100 and NRX-101
The Company has executed a Convertible Debt instrument with Anson Funds of Toronto for $10.8 - $16.3 million in funding designed to retire existing debt and to support FDA New Drug filings of NRX-100 and NRX-101 in the fourth quarter of 2024. Terms have been disclosed in 8K filings but are at an interest rate and conversion rate substantially lower than current corporate indebtedness. The new funding has no provision for "extraordinary redemptions" triggered by appreciation in NRx share price.
Retirement of current debt and settlement of litigation
Concurrent with the Anson investment, the Company has settled its outstanding litigation with Streeterville Capital, LLC at a substantial discount to the amounts claimed in litigation.
Progress towards an NDA for NRX-100 (IV ketamine) in the treatment of suicidal depression
Intravenous ketamine has now become a standard of care for acute treatment of suicidal depression, in the absence of an FDA-labeled product. Intranasal Esketamine is approved by the FDA (SPRAVATO®) but has not demonstrated a benefit on suicidality and is not approved for use in patients with bipolar depression. Attempts to use intranasal racemic ketamine for suicidal depression have failed.
The Company has formed data-sharing partnerships to license clinical trial data from a French Government-funded trial and two NIH-funded trials all of which demonstrate efficacy of racemic Intravenous ketamine against depression and two of which demonstrate statistically significant benefit vs suicidality. The Company's role is to reformat these data into the required presentation required for review by the FDA.
In contrast to nasal ketamine, Intravenous racemic ketamine demonstrates dramatic and immediate reduction of suicidality in patients with both Major Depressive Disorder and Bipolar Depression. Grunebaum and colleagues demonstrated a rapid and statistically significant reduction in Suicidal Ideation (SSI) at day 1 (p=0.0003) and in depression (P=0.0234), as measured by the Profile of Mood States (POMS) among patients randomized to IV Ketamine compared to those randomized to midazolam. This trial was published in the American Journal of Psychiatry Grunebaum, et.al.2. Abbar and colleagues similarly published 84% remission from suicidality on the Columbia Suicide Severity Rating Scale (C-SSRS) in patients treated with ketamine, vs. 28% in those treated with placebo (P<.0001). This trial was published in the British Medical Journal3. Data are expected to be transmitted to FDA by in 2024.
In November 2023, the Company initiated manufacture of ketamine together with Nephron Pharmaceuticals, Inc. (West Columbia, SC) to develop a single patient presentation of ketamine. Nine months of real-time stability is ongoing, the minimum stability time required for a New Drug Application. This presentation of ketamine does not contain the preservative included in multi-dose vials, (Benzanthonium Chloride), that is designed to preserve sterility in the vial when multiple doses are drawn for multiple patients. The Company is not aware of any data to support the safety of this preservative for repeated IV administration. Data were collected 20 years ago that demonstrated the toxic effect of this class of preservatives when applied repeatedly to the surface of the eye, which led to the current generation of preservative-free eye drops. NRX-100 will therefore be launched as a preservative-free presentation.
A long-term challenge with ketamine is that the current formulation (KETALAR®) is highly acidic. While it is suitable for intravenous use, it cannot be administered subcutaneously. In March 2024 the Company demonstrated the formulation of a pH neutral patentable form of IV ketamine that it anticipates will have widespread applicability both in treatment of depression and chronic pain.
Development of NRX-101 for Suicidal Treatment-Resistant Suicidal Bipolar Depression
The Company presented final data from the recently completed phase 2b/3 trial of NRX-101 in suicidal bipolar depression4 at the American Society of Clinical Psychopharmacology's annual meeting. These data demonstrated a significantly improved safety profile versus the standard of care, as demonstrated by a clinically significant reduction in akathisia (P=0.025) and time to sustained remission from suicidality (P=0.05). Akathisia is an adverse event seen with antidepressant medications considered by many experts to be a precursor to suicide. Given the vital need for safer medications in this at-risk population, we plan to submit an NDA for Accelerated Approval to the US FDA for treatment of bipolar depression patients with suicidality or akathisia, based on these data as well as additional data from our STABIL-B5 trial.
Incorporation of HOPE Therapeutics
In February we first presented the contours of HOPE Therapeutics, a subsidiary that will focus on the delivery of advance psychiatric treatments, including ketamine-focused treatment for depression and suicidality. Unlike the core business of NRx Pharmaceuticals, that is focused on biotechnology Research and Development, HOPE is organized around consolidating existing best-in-class clinics into a nationwide network. This has been done previously and without much success with clinics that are not necessarily psychiatrist-led. As currently designed, the HOPE consolidation is likely to be funded as a separate entity, through bond offerings and, thus, to be non-dilutive to NRx shareholders. Over the past quarter, HOPE leadership has identified the clinics that are most likely to participate in the first $100 million consolidation, has completed the audit required for a public listing of HOPE shares, and has identified appropriate underwriters for a future bond offering.
With Hope ownership as an asset of NRx, this will further strengthen the NRx balance sheet and aims to further enhance NRx shareholder value.
NRX-101 for Treatment of Chronic Pain:
In 2023, the Company licensed US Patent 8,653,120 for the use of DCS in chronic pain and filed a now-accepted Investigational New Drug (IND) application with the FDA to initiate commercial drug development of NRX-101 in chronic pain. Data lock has now been achieved in a 200-person randomized prospective trial funded by the US DOD (NCT 03535688) in which patients with chronic pain were randomly assigned to DCS 400mg/day vs. placebo. Should these results support efficacy of DCS in the treatment of chronic low back pain, they are expected to provide a Breakthrough Therapy path towards treatment of chronic pain with DCS and DCS-containing medicines.
Treatment of Urinary Tract Infection (UTI) and Urosepsis:
Although treatment of UTI is quite different from use of NRX-101 to treat Central Nervous System disorders, D-cycloserine was originally developed as an antibiotic because of its role in disrupting the cell wall of certain pathogens. During Q3 2023, NRx tested NRX-101 and its components against resistant pathogens that appear on the Congressionally mandated Qualified Infectious Disease Product (QIDP) list and proved in vitro effectiveness against antibiotic-resistant E. coli, Pseudomonas, and Acinetobacter. Accordingly, NRx was granted QIDP designation, Fast Track Designation, and Priority Review by the US FDA in January 2024.
In recent years, increased antibiotic resistance to common pathogens that cause urinary tract infections and urosepsis (i.e., sepsis originating in the urinary tract) has resulted in a marked increase in cUTI, hospitalization, and death from urosepsis. The US Center for Disease Control and Prevention reports that more than 1.7 million Americans contract sepsis each year, of whom at least 350,000 die during their hospitalization or are discharged to hospice (CDC Sepsis Ref.)6. There are approximately 3 million patients per year who contract cUTI in the US annually (Lodise, et. al.)7. Additionally, should NRX-101 succeed in clinical trials, the Company will consider developing a follow-on product that is anticipated to achieve another 20 years of patent exclusivity.
A key challenge in the treatment of cUTI is the tendency of advanced antibiotics to cause C. difficile infection, which is fatal in 10% of those who contract it over the age of 65 and results in prolonged hospitalization in many more. The Company recently announced data demonstrating that NRX-101 does not compromise the intestinal microbiome, unlike common antibiotics including Clindamycin and Ciprofloxacin. Should these findings be documented in human patients, NRX-101 would represent the only treatment for cUTI that does not cause C. Difficile infection.
In The Company does not anticipate funding this initiative with core NRx assets and is exploring structures for partnership opportunities. Should the Company or its partners succeed in serving 10% of the cUTI market, the Company believes that the revenue from NRX-101 has the potential to be hundreds of million annually, based on 3 million cases per year in the US and potential pricing of over $3,500/course of therapy.
Financial Results for the Quarter and Year to Date 2024
For the three months ended June 30, 2024, we at NRx Pharmaceuticals reduced our net loss from $8.7 million in the second quarter of 2023 to $7.9 million in 2024, representing nearly a 10% improvement year over year. For that same period, we reduced research and development expenses from $3.9 million in 2023 to $2.8 million in 2024. The $1.1 million decrease is related primarily to a decrease of $2.4 million in clinical trial and development expenses, offset by an increase of $1.3m related to the Alvogen warrants. Also in that 3 month period we recorded an increase in general and administrative expenses, from $4.1 million in 2023 to $4.2 million in 2024. The increase of $0.1 million is related primarily to an increase in consultants and legal fees partially offset by lower insurance expenses.
For the six months ended June 30, 2024, NRx Pharmaceuticals reduced its net loss to $14.4 million compared to $19.8 million in the prior year. These efficiencies represent an improvement in net loss of $5.4 million year over and a $1.32, or 47%, improvement in net loss per share year over year. Over that six-month period we recorded $4.6 million of research and development expenses compared to $7.5 million for the same period in 2023 representing a 39% decrease year over year. The decrease of $2.9 million is related primarily to a decrease of $4.1 million in clinical trial and development expenses, $0.3 million related to fees paid to regulatory and process development consultants while offset by $1.3 million related to the Alvogen warrants and $0.4 million related to fees paid to regulatory and development consultants. Also in that six-month period, we decreased G&A by $1.4 million, from $9.9 million in 2023 to $8.5 million in 2024, nearly a 15% decrease year over year.
As of June 30, 2024, we had $1.9 million in cash and cash equivalents. As previously stated, we recently announced we secured up to $16.3 Million Senior Secured Debt Financing from Anson Funds. This financing is expected to support 2024 filing of New Drug Applications for NRX-100 (ketamine) and NRX-101 and to support launch of HOPE Therapeutics as well as retire historical debt with more favorable terms, and a lower annual interest rate.
NRx continues to implement operational efficiencies to extend cash runway and maintain focus on our path to generating revenue and value for our shareholders.
Please see detailed financials on our Form 10-Q, filed with the SEC and available on our website.
Conference Call and Webcast Details
A live webcast of the conference call will be available on the Company's website at 4:30 p.m. ET today, at https://ir.nrxpharma.com/events. An archive of the webcast will be available on the Company's website for 30 days. Participants that are unable to join the webcast can access the conference call via telephone by dialing domestically 1-800-717-1738 or internationally 1-646-307-1865.
About NRx Pharmaceuticals, Inc.
NRx Pharmaceuticals is a clinical-stage biopharmaceutical company developing therapeutics based on its NMDA platform for the treatment of central nervous system disorders, specifically suicidal bipolar depression, chronic pain, and PTSD. The Company is developing NRX-101, an FDA-designated investigational Breakthrough Therapy for suicidal treatment-resistant bipolar depression and chronic pain. NRx plans to file an NDA for Accelerated Approval for NRX-101 in patients with bipolar depression and suicidality or akathisia. NRX-101 additionally has potential to act as a non-opioid treatment for chronic pain, as well as a treatment for complicated UTI.
NRx has recently announced plans to submit a New Drug Application for NRX-100 (IV ketamine) for the treatment of suicidal depression, based on results of well-controlled clinical trials conducted under the auspices of the US National Institutes of Health and newly obtained data from French health authorities, licensed under a data sharing agreement. NRx was awarded Fast Track Designation for development of ketamine (NRX-100) by the US FDA as part of a protocol to treat patients with acute suicidality.
About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (http://www.hopetherapeutics.com) is a care delivery company developing a best-in-class network of clinics that currently offer ketamine and other lifesaving therapies to patients with suicidal depression and related disorders, together with a digital therapeutic-enabled platform designed to augment and preserve the clinical benefit of NMDA-targeted drug therapy.
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, among others, statements regarding the proposed public offering and the timing and the use of the proceeds from the offering. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company's operations, results of operations, growth strategy and liquidity. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. Except as may be required by applicable law, The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.
1 Pan, Y., Gorenflo, M.P., Davis, P.B. et al. Suicidal ideation following ketamine prescription in patients with recurrent major depressive disorder: a nation-wide cohort study. Transl Psychiatry 14, 327 (2024). https://doi.org/10.1038/s41398-024-03033-4
2 Grunebaum, et. al., Ketamine for Rapid Reduction of Suicidal Thoughts. Am J Psychiatry. 2018 Apr 1: 175(4): 327-335
3 Abbar, et. al. Ketamine for Acute Treatment of Severe Suicidal Ideation, BMJ 2022; 376
4 Nierenberg, et. al., A Randomized, Double-Blind Controlled Comparison of NRX-101 (D-cycloserine/ lurasidone) to Lurasidone for Adults with Bipolar Depression and Subacute Suicidal Ideation or Behavior. Am Soc Clin Psych Annual Meeting 2024.
5 Nierenberg et al. International Journal of Bipolar Disorders (2023) 11:28 https://doi.org/10.1186/s40345-023-00
6 https://www.cdc.gov/sepsis/what-is-sepsis.html
7 Open Forum Infectious Diseases, Volume 9, Issue 7, July 2022, ofac315, https://doi.org/10.1093/ofid/ofac315
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SOURCE NRx Pharmaceuticals, Inc.
$CETX News: Cemtrex Reports Third Quarter 2024 Financial Results
Q3’24 Industrial Services Segment Revenue Increased 49% to $8.5M
News Link:
https://finance.yahoo.com/news/cemtrex-reports-third-quarter-2024-201000128.html
Hauppauge, NY, Aug. 14, 2024 (GLOBE NEWSWIRE) -- - Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology and industrial services company, has reported its unaudited financial and operational results for the fiscal third quarter ended June 30, 2024.
Key Third Quarter FY 2024 and Subsequent Highlights
Revenue for Q3’24 was flat at $14.7 million, compared to revenue of $14.7 million for Q3’23. Security segment revenues decreased 31% to $6.2 million in Q3’24 due primarily to the delay of multiple projects for the segment’s products and services.Industrial Services segment revenues for Q3’24 increased 49% to $8.5 million, on increased demand and additional revenue from the Heisey Mechanical acquisition completed in Q4’23.
Revenue for the nine months ended June 30, 2024 increased 14% to $48.7 million, compared to revenue in the prior year period of $42.8 million. Security segment revenues for the nine months ended June 30, 2024, decreased 10% to $23.4 million compared to $25.9 million for the nine months ended June 30, 2023.Industrial Services segment revenues for the nine months ended June 30, 2024, increased 50% to $25.3 million compared to $16.8 million for the nine months ended June 30, 2023.
Closed $10 million upsized underwritten public offering to conduct operations, increase marketing efforts, invest in existing business initiatives and products, and for the partial repayment of indebtedness.
Cash, cash equivalents and restricted cash as of June 30, 2024 was $7.6 million, compared to $6.3 million as of September 30, 2023.
Management Commentary
Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “In the third quarter we continued to see momentum in our segments, sustaining revenue year over year at $14.7 million. Significant demand for AIS products and services drove a 49% increase in revenue to $8.5 million, offset by decreases in Vicon revenue due to the delay of multiple projects and a weaker industrywide demand for security solutions.
“Operating loss for the third quarter was $3.2 million, compared to operating income of $0.1 million a year ago, mainly due to decreased gross profit in our Security segment and increased G&A expenses. The operating loss for the nine-month period was $5.0 million compared to $1.5 million a year ago, despite the higher sales. However, these results include approximately $2 million in one-time expenses related to the May 2024 equity financing, employee related one-time charges and legal expenses. Our goal of achieving a full year operating profit remains and we are working hard to drive revenue and maintain tight cost controls.
“In our Security segment, despite project delays, the team at Vicon continues to push the deployment of new technologies and products with investments into sales and marketing resources that we believe will drive sales over the next several quarters. We also were able to reduce our inventory by over $1 million this fiscal year as we strive to make our operations more efficient. We expect with the launch of the innovative new cloud security platform Anavio, along with new technologies and continued improvements to our core software platform Valerus, there is significant further opportunity to grow revenue and gross margin over the next several quarters.
“Our Industrial services segment delivered another strong quarter on orders from leading companies, building a pipeline of growth that we believe will produce a record year of revenue. We continue to believe with additional orders ahead, AIS has the potential to reach more than 30% annual revenue growth in FY’24, with further room for growth in FY 25.
“During the quarter we took the opportunity to improve our balance sheet with a $10 million upsized underwritten public offering, of which a portion of the proceeds were used to pay off some of our indebtedness. Looking ahead, we are now well positioned for additional growth and to reach our goal to achieve positive operating income in the future. The strengthened balance sheet also provides the ability to explore acquisition opportunities that can enhance our market reach and service capabilities, as we continue to seek long-term value for our shareholders,” concluded Govil.
Third Quarter FY 2024 Financial Results
Revenue for the three months ended June 30, 2024, and 2023 was $14.7 million and $14.7 million, respectively. The Security segment revenues for the three months ended June 30, 2024, decreased by 31% to $6.2 million. The Security segment decrease was due to the delay of multiple projects for the Security segment’s products and services and overall worsening economic conditions in the industry. The Industrial Services segment revenues for the third quarter increased by 49% to $8.5 million, mainly due to increased demand for the segment’s services as well as additional business from the Heisey acquisition completed during the fourth quarter of fiscal year 2023.
Gross Profit for the three months ended June 30, 2024, was $5.9 million, or 40% of revenues, as compared to gross profit of $6.5 million, or 44% of revenues, for the three months ended June 30, 2023.
Total operating expenses for three months ended June 30, 2024, were $9.1 million, compared to $6.4 million in the prior year’s quarter.
Operating loss for the third quarter of 2024 was $3.2 million as compared to an operating income of $0.1 million for the third quarter of 2023. The operating loss was primarily due to a decrease in gross profit in the Security segment and overall increased general and administration expenses.
Net loss for the quarter ended June 30, 2024 was $9.1 million, as compared to a net loss of $1.2 million in the prior year’s quarter.
Cash, cash equivalents and restricted cash totaled $7.6 million at June 30, 2024, as compared to $6.3 million at September 30, 2023.
Inventories decreased to $7.5 million at June 30, 2024, from $8.7 million at September 30, 2023.
Third Quarter FY 2024 Results Conference Call
Cemtrex Chief Executive Officer Saagar Govil and Chief Financial Officer Paul Wyckoff will host the conference call, followed by a question-and-answer period.
To access the call, please use the following information:
Date: Wednesday, August 14, 2024
Time: 5:00 p.m. Eastern time, 2:00 p.m. Pacific time
Toll-free dial-in number: 1-800-717-1738
International dial-in number: 1-646-307-1865
Conference ID: 1123331
Please call the conference telephone number 5-10 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 MZ Group at 1-949-491-8235.
The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1684288&tp_key=6a1e8a9870 and via the investor relations section of the Company's website at http://www.cemtrex.com.
A replay of the conference call will be available after 8:00 p.m. Eastern time through August 28, 2024.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 1123331
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries Inc and Advanced Industrial Services Inc.
Vicon Industries, a subsidiary of Cemtrex Inc., is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon delivers mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit http://www.vicon-security.com
AIS – Advanced Industrial Services, a subsidiary of Cemtrex, Inc., is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS Installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom designed specialty equipment to assure safe and quick installation of your production equipment. Our talented staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit http://www.ais-york.com
For more information visit http://www.cemtrex.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
$BIVI: BioVie to Present Overview of Bezisterim Clinical Data on Longevity at 11th Aging Research and Drug Discovery Meeting
Presentation to showcase potential impact of bezisterim on biological age, gene expression and measures of aging-related diseases from growing body of clinical evidence
CARSON CITY, Nev., Aug. 13, 2024 (GLOBE NEWSWIRE) -- BioVie Inc., (NASDAQ: BIVI) (“BioVie” or the “Company”) a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders and advanced liver disease, today announced that a poster presentation will be shared at the 11th Aging Research and Drug Discovery Meeting (ARDD 2024) being held August 26-30, 2024 in Copenhagen, Denmark.
The presentation “Bezisterim Effects on Biological Age, Alzheimer’s Epigenetics, and Neurologic Assessments” will provide an overview of clinical data to-date on bezisterim, focusing on various analyses and measurements related to longevity and its ability to affect the biological aging process. The presentation will be given by Christopher L. Reading, BioVie’s Senior Vice President, Alzheimer’s Disease Program, on Tuesday, August 27 from 14:40 - 15:00 CEST.
Details of the presented data and conclusions will be announced once the presentation is made public at the conference.
About Bezisterim
Bezisterim (NE3107) is an orally bioavailable, BBB-permeable, insulin-sensitizer that is also anti-inflammatory. In addition, it is not immunosuppressive and has a low risk of drug-to-drug interaction. Bezisterim has the potential to reduce symptoms of long COVID, including fatigue and cognitive dysfunction. Persistently circulating viral spike proteins are believed to trigger TLR-4 driven activation of NFkB and the subsequent expression of inflammatory cytokines (IL-6, TNF, IFNg). NE3107 has been shown to modulate the activation of NFkB and thus modulate inflammation.
Bezisterim is being investigated for Alzheimer’s disease (AD) and Parkinson’s disease (PD). BioVie has conducted and reported efficacy data on its Phase 3 randomized, double-blind, placebo-controlled, parallel-group, multicenter study to evaluate bezisterim in patients who have mild-to-moderate AD (NCT04669028). Results of a Phase 2 investigator-initiated trial (NCT05227820) showing bezisterim-treated patients experienced improved cognition and biomarker levels were presented at the Clinical Trials on Alzheimer’s Disease (CTAD) annual conference in December 2022. An estimated six million Americans suffer from AD. A Phase 2 study of bezisterim in PD (NCT05083260) has been completed, and data presented at the AD/PD™ 2023 International Conference on Alzheimer’s and Parkinson’s Diseases and related neurological disorders in Gothenburg, Sweden in March 2023 showed significant improvements in “morning on” symptoms and clinically meaningful improvement in motor control in patients treated with a combination of bezisterim and levodopa vs. patients treated with levodopa alone, and no drug-related adverse events.
About BioVie Inc.
BioVie Inc. (NASDAQ: BIVI) is a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders and advanced liver disease. In neurodegenerative disease, the Company’s drug candidate bezisterim inhibits inflammatory activation of ERK and NFkB (e.g., TNF signaling) that leads to neuroinflammation and insulin resistance, but not their homeostatic functions (e.g., insulin signaling and neuron growth and survival). Both are drivers of AD and PD. In liver disease, the Company’s Orphan drug candidate BIV201 (continuous infusion terlipressin), with U.S. Food and Drug Administration (“FDA”) Fast Track status, is being evaluated and discussed with guidance received from the FDA regarding the design of Phase 3 clinical testing of BIV201 for the treatment of ascites due to chronic liver cirrhosis. The active agent is approved in the U.S. and in about 40 countries for related complications of advanced liver cirrhosis. For more information, visit http://www.bioviepharma.com.
Forward-Looking Statements
This press release contains forward-looking statements, which may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. In this press release, forward-looking statements include, but are not limited to, the potential impact of bezisterim on cognition and function among study participants and topline data from the bezisterim trial. Although BioVie Inc. believes such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Actual results may vary materially from those expressed or implied by the statements herein due to the Company's ability to successfully raise sufficient capital on reasonable terms or at all, available cash on hand and contractual and statutory limitations that could impair our ability to pay future dividends, our ability to complete our pre-clinical or clinical studies and to obtain approval for our product candidates, our ability to successfully defend potential future litigation, changes in local or national economic conditions as well as various additional risks, many of which are now unknown and generally out of the Company's control, and which are detailed from time to time in reports filed by the Company with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. BioVie Inc. does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law.
For Investor Relations Inquiries:
Contact:
Bruce MackleManaging Director LifeSci Advisors, LLC
bmackle@lifesciadvisors.com
For Media Inquires
Melyssa Weible
Managing Partner, Elixir Health Public Relations
Ph: +1 201-723-5705
mweible@elixirhealthpr.com
https://www.globenewswire.com/newsroom/ti?nf=OTIwMzY0MiM2NDIwNjE4IzUwMDA3OTY2Ng==
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Source: BioVie, Inc.
$BIVI: BioVie to Present Overview of Bezisterim Clinical Data on Longevity at 11th Aging Research and Drug Discovery Meeting
Presentation to showcase potential impact of bezisterim on biological age, gene expression and measures of aging-related diseases from growing body of clinical evidence
CARSON CITY, Nev., Aug. 13, 2024 (GLOBE NEWSWIRE) -- BioVie Inc., (NASDAQ: BIVI) (“BioVie” or the “Company”) a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders and advanced liver disease, today announced that a poster presentation will be shared at the 11th Aging Research and Drug Discovery Meeting (ARDD 2024) being held August 26-30, 2024 in Copenhagen, Denmark.
The presentation “Bezisterim Effects on Biological Age, Alzheimer’s Epigenetics, and Neurologic Assessments” will provide an overview of clinical data to-date on bezisterim, focusing on various analyses and measurements related to longevity and its ability to affect the biological aging process. The presentation will be given by Christopher L. Reading, BioVie’s Senior Vice President, Alzheimer’s Disease Program, on Tuesday, August 27 from 14:40 - 15:00 CEST.
Details of the presented data and conclusions will be announced once the presentation is made public at the conference.
About Bezisterim
Bezisterim (NE3107) is an orally bioavailable, BBB-permeable, insulin-sensitizer that is also anti-inflammatory. In addition, it is not immunosuppressive and has a low risk of drug-to-drug interaction. Bezisterim has the potential to reduce symptoms of long COVID, including fatigue and cognitive dysfunction. Persistently circulating viral spike proteins are believed to trigger TLR-4 driven activation of NFkB and the subsequent expression of inflammatory cytokines (IL-6, TNF, IFNg). NE3107 has been shown to modulate the activation of NFkB and thus modulate inflammation.
Bezisterim is being investigated for Alzheimer’s disease (AD) and Parkinson’s disease (PD). BioVie has conducted and reported efficacy data on its Phase 3 randomized, double-blind, placebo-controlled, parallel-group, multicenter study to evaluate bezisterim in patients who have mild-to-moderate AD (NCT04669028). Results of a Phase 2 investigator-initiated trial (NCT05227820) showing bezisterim-treated patients experienced improved cognition and biomarker levels were presented at the Clinical Trials on Alzheimer’s Disease (CTAD) annual conference in December 2022. An estimated six million Americans suffer from AD. A Phase 2 study of bezisterim in PD (NCT05083260) has been completed, and data presented at the AD/PD™ 2023 International Conference on Alzheimer’s and Parkinson’s Diseases and related neurological disorders in Gothenburg, Sweden in March 2023 showed significant improvements in “morning on” symptoms and clinically meaningful improvement in motor control in patients treated with a combination of bezisterim and levodopa vs. patients treated with levodopa alone, and no drug-related adverse events.
About BioVie Inc.
BioVie Inc. (NASDAQ: BIVI) is a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders and advanced liver disease. In neurodegenerative disease, the Company’s drug candidate bezisterim inhibits inflammatory activation of ERK and NFkB (e.g., TNF signaling) that leads to neuroinflammation and insulin resistance, but not their homeostatic functions (e.g., insulin signaling and neuron growth and survival). Both are drivers of AD and PD. In liver disease, the Company’s Orphan drug candidate BIV201 (continuous infusion terlipressin), with U.S. Food and Drug Administration (“FDA”) Fast Track status, is being evaluated and discussed with guidance received from the FDA regarding the design of Phase 3 clinical testing of BIV201 for the treatment of ascites due to chronic liver cirrhosis. The active agent is approved in the U.S. and in about 40 countries for related complications of advanced liver cirrhosis. For more information, visit http://www.bioviepharma.com.
Forward-Looking Statements
This press release contains forward-looking statements, which may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. In this press release, forward-looking statements include, but are not limited to, the potential impact of bezisterim on cognition and function among study participants and topline data from the bezisterim trial. Although BioVie Inc. believes such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Actual results may vary materially from those expressed or implied by the statements herein due to the Company's ability to successfully raise sufficient capital on reasonable terms or at all, available cash on hand and contractual and statutory limitations that could impair our ability to pay future dividends, our ability to complete our pre-clinical or clinical studies and to obtain approval for our product candidates, our ability to successfully defend potential future litigation, changes in local or national economic conditions as well as various additional risks, many of which are now unknown and generally out of the Company's control, and which are detailed from time to time in reports filed by the Company with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. BioVie Inc. does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law.
For Investor Relations Inquiries:
Contact:
Bruce MackleManaging Director LifeSci Advisors, LLC
bmackle@lifesciadvisors.com
For Media Inquires
Melyssa Weible
Managing Partner, Elixir Health Public Relations
Ph: +1 201-723-5705
mweible@elixirhealthpr.com
https://www.globenewswire.com/newsroom/ti?nf=OTIwMzY0MiM2NDIwNjE4IzUwMDA3OTY2Ng==
https://ml.globenewswire.com/media/NmVhZjI2ZjAtNjg1OC00MzdlLTkzY2QtMWRhYmYwOTE5NzgzLTUwMDA3OTY2Ng==/tiny/BioVie-Inc-.png
Source: BioVie, Inc.
$IDVV News: Winners Waygers AI Powered Sports Handicapping Assistant Launched In Beta
Carlsbad, California--(Newsfile Corp. - August 15, 2024) - International Endeavors Corp. (OTC Pink: IDVV) ("IEC"), a technology holdings company announced that its WITech.ai division launched a one of a kind artificial intelligence (AI) powered sports handicapping assistant today.
We are pleased to announce the launch of winnerswaygers.com in a free beta mode today thus expanding our AI's ability into sports handicapping. IEC's WITech division plans to expand the service quickly into a subscription based model featuring all major sports using the popularity of the NFL football and fantasy betting season as a catalyst to make users aware of the service.
The AI is currently used by professional handicappers that helped to develop the tools and datasets for the AI. WITech is transforming the current complex model into a user friendly service that will appeal to all.
Current plans are to launch in phases starting with a beta mode offering users the ability to sign up for the service for free. Upon the start of the NFL season in September 2024 users will begin receiving handicapping information from the AI to assist in their decision making.
Our goal after beta is to launch our paid subscription service featuring an interactive sports handicapping bot in Mid October 2024 along with an expansion into Hockey and Basketball. We will be offering a discount to any users of the beta version who wish to upgrade at that time.
We are planning in Q4 of 2024 to begin charging $77 per league selected, for example NFL, and will offer an all sports league package for $247 per year/season. As previously indicated there will be a discount for beta members. At that time the beta version will become a free weekly newsletter featuring one pick to allow potential paid subscribers to see how the service works. We have been seeing massive interest in this service and feel we will have thousands of subscribers as the paid service gets rolled out.
Winners Waygers spokesperson Marrion Lewis stated, "We are excited offer the service to the mainstream. For far too long only professionals have had access to the complex data used to make more accurate sports bets. We plan to change the game. The NFL is the most popular sport to bet, so it is fitting to use it for our launch. I'm personally rooting for the chiefs, but we'll let the AI decide."
IDVV board member Ray Valdez stated, "This is the first expansion of the company into adult related, and more importantly recession resilient sectors. With the potential of many thousands of subscribers we are looking forward to discussing winners waygers along with other opportunities the company is pursuing shortly."
Winners Waygers Video
https://vimeo.com/999064151?share=copy
Relevant Links
https://www.americangaming.org/resources/economic-impact-of-legalized-sports-betting/
https://www.statista.com/topics/10895/fantasy-sports-in-the-us/#topicOverview
https://www.espn.com/nfl/story/_/id/39469575/americans-expected-bet-231b-super-bowl-lviii
We encourage everyone to follow us.
Twitter
https://twitter.com/IDVVcorp
Website(s)
https://witech.ai
https://IDVVCORP.COM
About Us
International Endeavors Corporation ("IEC") is a technology holdings company.
The Company currently is reporting its financial information on OTCMarkets.
Our filings can be seen at https://www.otcmarkets.com.
Disclaimer
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
International Endeavors Corporation
Phone:833-705-0022
Email: otc@idvvcorp.com
SOURCE: International Endeavors Corporation, Inc.
https://images.newsfilecorp.com/files/10187/220044_9ae4a1780431c9ef_logo.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220044
SOURCE International Endeavors Corporation
https://api.newsfilecorp.com/newsinfo/220044/130
$IDVV News: Winners Waygers AI Powered Sports Handicapping Assistant Launched In Beta
Carlsbad, California--(Newsfile Corp. - August 15, 2024) - International Endeavors Corp. (OTC Pink: IDVV) ("IEC"), a technology holdings company announced that its WITech.ai division launched a one of a kind artificial intelligence (AI) powered sports handicapping assistant today.
We are pleased to announce the launch of winnerswaygers.com in a free beta mode today thus expanding our AI's ability into sports handicapping. IEC's WITech division plans to expand the service quickly into a subscription based model featuring all major sports using the popularity of the NFL football and fantasy betting season as a catalyst to make users aware of the service.
The AI is currently used by professional handicappers that helped to develop the tools and datasets for the AI. WITech is transforming the current complex model into a user friendly service that will appeal to all.
Current plans are to launch in phases starting with a beta mode offering users the ability to sign up for the service for free. Upon the start of the NFL season in September 2024 users will begin receiving handicapping information from the AI to assist in their decision making.
Our goal after beta is to launch our paid subscription service featuring an interactive sports handicapping bot in Mid October 2024 along with an expansion into Hockey and Basketball. We will be offering a discount to any users of the beta version who wish to upgrade at that time.
We are planning in Q4 of 2024 to begin charging $77 per league selected, for example NFL, and will offer an all sports league package for $247 per year/season. As previously indicated there will be a discount for beta members. At that time the beta version will become a free weekly newsletter featuring one pick to allow potential paid subscribers to see how the service works. We have been seeing massive interest in this service and feel we will have thousands of subscribers as the paid service gets rolled out.
Winners Waygers spokesperson Marrion Lewis stated, "We are excited offer the service to the mainstream. For far too long only professionals have had access to the complex data used to make more accurate sports bets. We plan to change the game. The NFL is the most popular sport to bet, so it is fitting to use it for our launch. I'm personally rooting for the chiefs, but we'll let the AI decide."
IDVV board member Ray Valdez stated, "This is the first expansion of the company into adult related, and more importantly recession resilient sectors. With the potential of many thousands of subscribers we are looking forward to discussing winners waygers along with other opportunities the company is pursuing shortly."
Winners Waygers Video
https://vimeo.com/999064151?share=copy
Relevant Links
https://www.americangaming.org/resources/economic-impact-of-legalized-sports-betting/
https://www.statista.com/topics/10895/fantasy-sports-in-the-us/#topicOverview
https://www.espn.com/nfl/story/_/id/39469575/americans-expected-bet-231b-super-bowl-lviii
We encourage everyone to follow us.
Twitter
https://twitter.com/IDVVcorp
Website(s)
https://witech.ai
https://IDVVCORP.COM
About Us
International Endeavors Corporation ("IEC") is a technology holdings company.
The Company currently is reporting its financial information on OTCMarkets.
Our filings can be seen at https://www.otcmarkets.com.
Disclaimer
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
International Endeavors Corporation
Phone:833-705-0022
Email: otc@idvvcorp.com
SOURCE: International Endeavors Corporation, Inc.
https://images.newsfilecorp.com/files/10187/220044_9ae4a1780431c9ef_logo.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220044
SOURCE International Endeavors Corporation
https://api.newsfilecorp.com/newsinfo/220044/130
$NAHD News: New Asia Holdings Inc (NAHD) Announces Closing of Asset Purchase Agreement with Taylor Consulting (TAYO)
New Asia Holdings/Olenox Corp. Acquires Pipeline assets in Texas for $1,600,000 in common stock
Electra, Texas , Aug. 13, 2024 (GLOBE NEWSWIRE) -- New Asia Holdings Inc./Olenox Corp. (“NAHD” or the Company) (OTCQB: NAHD), announces it has purchased a 162 miles of Texas pipeline from Taylor Consulting (OTC:TAYO). The purchase, valued at $1,600,000, was paid by 10,000,000 shares of common stock of NAHD. The Company believes the acquired assets will be a key property moving forward. The acquired asset is 162 miles of pipeline designated as a public utility with associated feeder wells and a large consumer customer attached.
“We are excited about this acquisition as it moves our company into the midstream market and provides a solid cash-flowing asset,” said Olenox CEO Michael McLaren. “We will begin to re-establish take-off agreements and upgrade the pipeline over the next few months”.
The company will introduce its in-house monitoring technologies to increase field efficiencies, reduce costs and better protect the environment during the operation of the pipeline.
About Olenox Corp.
Olenox Corp.is a diversified energy company based in the state of Texas that currently operates three vertically integrated business units – Oil and Gas, Energy Services and Energy Technologies.
Oil and Gas: focuses on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas and Oklahoma. It employs both internally developed and third party-licensed technologies to increase production, optimize performance and reduce costs. Olenox currently operates several oil and gas properties in Texas and Kansas.
Energy Services: This business unit supports Olenox’s overall exploration and production efforts with “well services” and “end of life reclamation.” Olenox Energy Services owns and operates a combination of customized service-wireline rigs and HydroVac units. This specialized equipment allows for faster “rig in” and “rig out” times. Overall, Olenox Energy Services’ equipment and experience combination seeks to reduce the amount of time and fuel burned to complete an abandonment or workover thus reducing costs.
Energy Technologies: This business provides both R&D and existing technology to enable increased production in the field. Olenox flagship intellectual property is its downhole enhanced recovery plasma pulse tooling and ultrasonic cleaning tools.
Each of Olenox’s three vertically integrated business units operate in tandem to help Olenox capture unique opportunities that often go untapped by the Company's competitors.
Facebook: https://www.facebook.com/OlenoxCorp
Instagram: https://www.instagram.com/olenoxcorp/
Twitter: https://x.com/OlenoxCorp
YouTube: https://www.youtube.com/@OlenoxCorp
Linkedin: https://www.linkedin.com/company/olenoxcorp/
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such 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 be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
https://www.globenewswire.com/newsroom/ti?nf=OTIwMzg2OSM2NDIxNDQzIzIyOTMzNTI=
https://ml.globenewswire.com/media/YmU3NzBkZjgtZjdjNC00MDg4LWE5ZGItYWQ1ZGYxMDZjZjZiLTEzMDQ5MDI=/tiny/New-Asia-Holdings-Inc-.png
For more information, please contact:
Olenox Corp.
205S Bailey Street, Electra, Texas 76360
Email: mikem@olenox.com
Phone: +1 940-205-1257
Source: New Asia Holdings Inc
$NAHD News: New Asia Holdings Inc (NAHD) Announces Closing of Asset Purchase Agreement with Taylor Consulting (TAYO)
New Asia Holdings/Olenox Corp. Acquires Pipeline assets in Texas for $1,600,000 in common stock
Electra, Texas , Aug. 13, 2024 (GLOBE NEWSWIRE) -- New Asia Holdings Inc./Olenox Corp. (“NAHD” or the Company) (OTCQB: NAHD), announces it has purchased a 162 miles of Texas pipeline from Taylor Consulting (OTC:TAYO). The purchase, valued at $1,600,000, was paid by 10,000,000 shares of common stock of NAHD. The Company believes the acquired assets will be a key property moving forward. The acquired asset is 162 miles of pipeline designated as a public utility with associated feeder wells and a large consumer customer attached.
“We are excited about this acquisition as it moves our company into the midstream market and provides a solid cash-flowing asset,” said Olenox CEO Michael McLaren. “We will begin to re-establish take-off agreements and upgrade the pipeline over the next few months”.
The company will introduce its in-house monitoring technologies to increase field efficiencies, reduce costs and better protect the environment during the operation of the pipeline.
About Olenox Corp.
Olenox Corp.is a diversified energy company based in the state of Texas that currently operates three vertically integrated business units – Oil and Gas, Energy Services and Energy Technologies.
Oil and Gas: focuses on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas and Oklahoma. It employs both internally developed and third party-licensed technologies to increase production, optimize performance and reduce costs. Olenox currently operates several oil and gas properties in Texas and Kansas.
Energy Services: This business unit supports Olenox’s overall exploration and production efforts with “well services” and “end of life reclamation.” Olenox Energy Services owns and operates a combination of customized service-wireline rigs and HydroVac units. This specialized equipment allows for faster “rig in” and “rig out” times. Overall, Olenox Energy Services’ equipment and experience combination seeks to reduce the amount of time and fuel burned to complete an abandonment or workover thus reducing costs.
Energy Technologies: This business provides both R&D and existing technology to enable increased production in the field. Olenox flagship intellectual property is its downhole enhanced recovery plasma pulse tooling and ultrasonic cleaning tools.
Each of Olenox’s three vertically integrated business units operate in tandem to help Olenox capture unique opportunities that often go untapped by the Company's competitors.
Facebook: https://www.facebook.com/OlenoxCorp
Instagram: https://www.instagram.com/olenoxcorp/
Twitter: https://x.com/OlenoxCorp
YouTube: https://www.youtube.com/@OlenoxCorp
Linkedin: https://www.linkedin.com/company/olenoxcorp/
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such 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 be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
https://www.globenewswire.com/newsroom/ti?nf=OTIwMzg2OSM2NDIxNDQzIzIyOTMzNTI=
https://ml.globenewswire.com/media/YmU3NzBkZjgtZjdjNC00MDg4LWE5ZGItYWQ1ZGYxMDZjZjZiLTEzMDQ5MDI=/tiny/New-Asia-Holdings-Inc-.png
For more information, please contact:
Olenox Corp.
205S Bailey Street, Electra, Texas 76360
Email: mikem@olenox.com
Phone: +1 940-205-1257
Source: New Asia Holdings Inc
The real facts are that IVDN has strongly rising sales, new customers, new distributors, patent protection, little debt, insider buying, a small share structure with a very low float of only 16 million shares out, all legal issues resolved in the company's favor and, of course, the highest performing House Wrap insulation on the market with its unique evacuated cell structure delivering an R-6 value that no competitor can mach. All of this has come together as a result of IVDN management's diligent work over the past several years and has brought the company to its strongest position ever for 2024 and beyond.
Everything is well detailed in the official company news below which is fully accountable to the SEC for truthfulness and accuracy. Anything else posted by anonymous individuals on chat boards is accountable to no one and therefore has no credibility.
Innovative Designs Sales Update
May 30, 2024
https://finance.yahoo.com/news/innovative-designs-sales-110000236.html
Innovative Designs Vendor Growth
April 10, 2024
https://finance.yahoo.com/news/innovative-designs-vendor-growth-174255528.html
World International Patent Organization (WIPO) Application Accepted on Superior Insulation Advancement to Maximize Global Marketing Opportunities for Innovative Designs, Inc.
Dec. 27, 2023
https://www.newmediawire.com/news/world-international-patent-organization-wipo-application-accepted-on-superior-insulation-advancement-to-maximize-global-marketing-opportunities-for-innovative-designs-inc-7071640
LIG Assets, Inc. Announces Agreement With Insultex House Wrap
October 30, 2023
https://www.globenewswire.com/en/news-release/2023/10/30/2769422/0/en/LIG-Assets-Inc-Announces-Agreement-With-Insultex-House-Wrap.html
Innovative Designs Inc. Receiving Orders From Numerous New Client Accounts for Top Performing Insultex House Wrap With Unmatched R-6 Insulation Value
October 26, 2023
https://www.globenewswire.com/news-release/2023/10/26/2767843/0/en/Innovative-Designs-Inc-Receiving-Orders-From-Numerous-New-Client-Accounts-for-Top-Performing-Insultex-House-Wrap-With-Unmatched-R-6-Insulation-Value.html
Innovative Designs Adds New Accounts
October 2, 2023
https://www.globenewswire.com/news-release/2023/10/02/2752606/0/en/Innovative-Designs-Adds-New-Accounts.html
Innovative Designs, Inc. Receives $100,000 Direct Private Investment from Board Member Mr. Robert K. Adams
June 5, 2023
https://www.globenewswire.com/news-release/2023/06/05/2682134/0/en/Innovative-Designs-Inc-Receives-100-000-Direct-Private-Investment-from-Board-Member-Mr-Robert-K-Adams.html
Innovative Designs, Inc. Receives Significant New Orders for Its Unmatched Insultex House Wrap from Two Repeat Customers
June 1, 2023
https://www.globenewswire.com/news-release/2023/06/01/2680753/0/en/Innovative-Designs-Inc-Receives-Significant-New-Orders-for-Its-Unmatched-Insultex-House-Wrap-from-Two-Repeat-Customers.html
Innovative Designs Receives Patent for Propriety Process With Low Density Foam
April 20, 2023
https://www.globenewswire.com/news-release/2023/04/20/2651420/0/en/Innovative-Designs-Receives-Patent-for-Propriety-Process-With-Low-Density-Foam.html
Pitcook, here are a couple of links below to the situation with the shortage of financial auditors. There are more online if you just search around. I am sure IVDN management will get their reporting issues sorted out as they always do, and then the stock will return to its proper OTCQB trading status. From all we have seen in the company's very encouraging news releases so far this year, the next financial reports to be filed will be well worth the wait. Mature minded investors will have the necessary patience. As for others, they can cry all they want.
The U.S. is short 340,000 accountants
https://fortune.com/2024/03/01/accounting-shortage-earnings-report-mistakes/
There are 340,000 fewer accountants than five years ago, according to a Bloomberg analysis of data from the Bureau of Labor Statistics, leaving the U.S. with only 1.6 million. And the talent pipeline is drying up.
https://anderson-review.ucla.edu/technologys-hidden-role-in-the-accountant-shortage/#:~:text=There%20are%20340%2C000%20fewer%20accountants,talent%20pipeline%20is%20drying%20up.
Hi Pitcook, of course we know that IVDN has been delayed in filing its current financial report for the company's fiscal 2nd quarter which was due by June 15th. This is not an uncommon situation in the OTC market today as there is a shortage of qualified auditors available to the many small cap companies who need them. What we do have available are the official news releases from IVDN which clearly state that the company is experiencing record sales and revenue growth in 2024 (latest news below). It's only a matter of time for the financial reports to get worked out and filed which will allow IVDN to get back to its proper OTCQB listing and trading.
------------------------------------------------------------------------------------------------------------------
PITTSBURGH, PA - (NewMediaWire) - May 30, 2024 - Innovative Designs, Inc. (OTCQB: IVDN) continues its upward sales trend into the end of May 2024. Year-to-date sales have already surpassed FYE2023 by over 33% with 5 months remaining in FYE2024. The growth is attributed to a substantial increase in the number of new retailers that are now carrying the company's Insultex House Wrap(R). As new energy codes are implemented across the United States, homebuilders/contractors are using Insultex House Wrap(R) as a convenient R-Value continuous insulation to a wall system.
Our notable growth in sales can be attributed to Built Link Solutions (Formerly Compound Construction) based in Grand Rapids, MI. Built Link Solutions is working to become the primary source for industry professionals, innovators, and stakeholders to discover, evaluate, and adopt the latest advancements in building materials, tools and technologies. Having curated a comprehensive national distribution network, they bring pioneering solutions like Insultex House Wrap(R) to market, propelling the evolution of the construction industry towards a future where innovation thrives, and buildings meet the needs of tomorrow. Since coming onboard, Built Link Solutions has:
Established a comprehensive national distribution network to service customers where they are when they need it.
Grown national awareness of product benefits and specifications through their dedicated sales agents and attendance at building industry trade shows across the country.
Conducted in-person sales training and online seminars to educate sales associates on Insultex House Wrap(R).
Streamlined the sales process to deliver consistent and superior level service to customers of all sizes and needs.
Implemented volume pricing models and incentive discounts to meet the needs for scale and demand.
As building codes and exterior R-Value requirements are quickly evolving across the country, Built Link Solutions has proven highly proactive in contacting prospective accounts, notifying them of the cost-effective solution that our Insultex House Wrap(R) provides.
Randy Kimbler, Director of Business Development for Built Link Solutions, commented, "Insultex House Wrap(R) is gaining traction in the market as it provides a timely and effective solution. Its cost-effectiveness, innovation, and ability to address today's building challenges are driving positive feedback nationwide."
About Innovative Designs, Inc.
Innovative Designs, Inc. manufactures the Insultex(R) House Wrap and Arctic Armor(R) Line, under the "i.d.i.gear" label featuring INSULTEX(R). Patented INSULTEX(R) is the thinnest, lightest, and warmest insulator in the market today. For more information, please visit http://www.idigear.com or http://www.insultexhousewrap.com.
Disclaimer
Certain statements in this press release constitute "forward-looking" statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the "Safe Harbor" protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at http://www.sec.gov.
CONTACT:
Innovative Designs, Inc.
Joseph Riccelli, CEO
412-799-0350
joer@idigear.com
http://www.insultexhousewrap.com
Built Link Solutions
Randy Kimbler, Dir. Business Development
616-443-3200
RandyK@Builtlinksolutions.com
https://finance.yahoo.com/news/innovative-designs-sales-110000236.html
Also glad that NAHD has multiple resources for investors to stay up to date on company developments:
Facebook: https://www.facebook.com/OlenoxCorp
Instagram: https://www.instagram.com/olenoxcorp/
Twitter: https://x.com/OlenoxCorp
YouTube: https://www.youtube.com/@OlenoxCorp
Linkedin: https://www.linkedin.com/company/olenoxcorp/
The NAHD company website looks like it's coming together with new improvements and good information for investors.
http://newasiainc.com/
Strong Monetization Strategy
Our strong business acumen ensures we always have a long-term plan for all of our key investments.
Global Network
Our extensive network affords us the luxury of choosing what are the best investments for our projects.
Carefully Calculated Investments
We double-check all our forecast twice to ensure our financial plans are both feasible and sound.
NAHD looks like a company setting up for substantial growth ahead in the high value energy production sector.
From this week's news on the latest acquisition:
“We are excited about this acquisition as it moves our company into the midstream market and provides a solid cash-flowing asset,” said Olenox CEO Michael McLaren. “We will begin to re-establish take-off agreements and upgrade the pipeline over the next few months”.
The company will introduce its in-house monitoring technologies to increase field efficiencies, reduce costs and better protect the environment during the operation of the pipeline.
New Asia Holdings Inc (NAHD) Announces Closing of Asset Purchase Agreement with Taylor Consulting (TAYO)
New Asia Holdings/Olenox Corp. Acquires Pipeline assets in Texas for $1,600,000 in common stock
Electra, Texas , Aug. 13, 2024 (GLOBE NEWSWIRE) -- New Asia Holdings Inc./Olenox Corp. (“NAHD” or the Company) (OTCQB: NAHD), announces it has purchased a 162 miles of Texas pipeline from Taylor Consulting (OTC:TAYO). The purchase, valued at $1,600,000, was paid by 10,000,000 shares of common stock of NAHD. The Company believes the acquired assets will be a key property moving forward. The acquired asset is 162 miles of pipeline designated as a public utility with associated feeder wells and a large consumer customer attached.
“We are excited about this acquisition as it moves our company into the midstream market and provides a solid cash-flowing asset,” said Olenox CEO Michael McLaren. “We will begin to re-establish take-off agreements and upgrade the pipeline over the next few months”.
The company will introduce its in-house monitoring technologies to increase field efficiencies, reduce costs and better protect the environment during the operation of the pipeline.
About Olenox Corp.
Olenox Corp.is a diversified energy company based in the state of Texas that currently operates three vertically integrated business units – Oil and Gas, Energy Services and Energy Technologies.
Oil and Gas: focuses on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas and Oklahoma. It employs both internally developed and third party-licensed technologies to increase production, optimize performance and reduce costs. Olenox currently operates several oil and gas properties in Texas and Kansas.
Energy Services: This business unit supports Olenox’s overall exploration and production efforts with “well services” and “end of life reclamation.” Olenox Energy Services owns and operates a combination of customized service-wireline rigs and HydroVac units. This specialized equipment allows for faster “rig in” and “rig out” times. Overall, Olenox Energy Services’ equipment and experience combination seeks to reduce the amount of time and fuel burned to complete an abandonment or workover thus reducing costs.
Energy Technologies: This business provides both R&D and existing technology to enable increased production in the field. Olenox flagship intellectual property is its downhole enhanced recovery plasma pulse tooling and ultrasonic cleaning tools.
Each of Olenox’s three vertically integrated business units operate in tandem to help Olenox capture unique opportunities that often go untapped by the Company's competitors.
Facebook: https://www.facebook.com/OlenoxCorp
Instagram: https://www.instagram.com/olenoxcorp/
Twitter: https://x.com/OlenoxCorp
YouTube: https://www.youtube.com/@OlenoxCorp
Linkedin: https://www.linkedin.com/company/olenoxcorp/
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such 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 be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
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For more information, please contact:
Olenox Corp.
205S Bailey Street, Electra, Texas 76360
Email: mikem@olenox.com
Phone: +1 940-205-1257
Source: New Asia Holdings Inc.
$BIVI: BioVie to Present Overview of Bezisterim Clinical Data on Longevity at 11th Aging Research and Drug Discovery Meeting
Presentation to showcase potential impact of bezisterim on biological age, gene expression and measures of aging-related diseases from growing body of clinical evidence
CARSON CITY, Nev., Aug. 13, 2024 (GLOBE NEWSWIRE) -- BioVie Inc., (NASDAQ: BIVI) (“BioVie” or the “Company”) a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders and advanced liver disease, today announced that a poster presentation will be shared at the 11th Aging Research and Drug Discovery Meeting (ARDD 2024) being held August 26-30, 2024 in Copenhagen, Denmark.
The presentation “Bezisterim Effects on Biological Age, Alzheimer’s Epigenetics, and Neurologic Assessments” will provide an overview of clinical data to-date on bezisterim, focusing on various analyses and measurements related to longevity and its ability to affect the biological aging process. The presentation will be given by Christopher L. Reading, BioVie’s Senior Vice President, Alzheimer’s Disease Program, on Tuesday, August 27 from 14:40 - 15:00 CEST.
Details of the presented data and conclusions will be announced once the presentation is made public at the conference.
About Bezisterim
Bezisterim (NE3107) is an orally bioavailable, BBB-permeable, insulin-sensitizer that is also anti-inflammatory. In addition, it is not immunosuppressive and has a low risk of drug-to-drug interaction. Bezisterim has the potential to reduce symptoms of long COVID, including fatigue and cognitive dysfunction. Persistently circulating viral spike proteins are believed to trigger TLR-4 driven activation of NFkB and the subsequent expression of inflammatory cytokines (IL-6, TNF, IFNg). NE3107 has been shown to modulate the activation of NFkB and thus modulate inflammation.
Bezisterim is being investigated for Alzheimer’s disease (AD) and Parkinson’s disease (PD). BioVie has conducted and reported efficacy data on its Phase 3 randomized, double-blind, placebo-controlled, parallel-group, multicenter study to evaluate bezisterim in patients who have mild-to-moderate AD (NCT04669028). Results of a Phase 2 investigator-initiated trial (NCT05227820) showing bezisterim-treated patients experienced improved cognition and biomarker levels were presented at the Clinical Trials on Alzheimer’s Disease (CTAD) annual conference in December 2022. An estimated six million Americans suffer from AD. A Phase 2 study of bezisterim in PD (NCT05083260) has been completed, and data presented at the AD/PD™ 2023 International Conference on Alzheimer’s and Parkinson’s Diseases and related neurological disorders in Gothenburg, Sweden in March 2023 showed significant improvements in “morning on” symptoms and clinically meaningful improvement in motor control in patients treated with a combination of bezisterim and levodopa vs. patients treated with levodopa alone, and no drug-related adverse events.
About BioVie Inc.
BioVie Inc. (NASDAQ: BIVI) is a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders and advanced liver disease. In neurodegenerative disease, the Company’s drug candidate bezisterim inhibits inflammatory activation of ERK and NFkB (e.g., TNF signaling) that leads to neuroinflammation and insulin resistance, but not their homeostatic functions (e.g., insulin signaling and neuron growth and survival). Both are drivers of AD and PD. In liver disease, the Company’s Orphan drug candidate BIV201 (continuous infusion terlipressin), with U.S. Food and Drug Administration (“FDA”) Fast Track status, is being evaluated and discussed with guidance received from the FDA regarding the design of Phase 3 clinical testing of BIV201 for the treatment of ascites due to chronic liver cirrhosis. The active agent is approved in the U.S. and in about 40 countries for related complications of advanced liver cirrhosis. For more information, visit http://www.bioviepharma.com.
Forward-Looking Statements
This press release contains forward-looking statements, which may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. In this press release, forward-looking statements include, but are not limited to, the potential impact of bezisterim on cognition and function among study participants and topline data from the bezisterim trial. Although BioVie Inc. believes such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Actual results may vary materially from those expressed or implied by the statements herein due to the Company's ability to successfully raise sufficient capital on reasonable terms or at all, available cash on hand and contractual and statutory limitations that could impair our ability to pay future dividends, our ability to complete our pre-clinical or clinical studies and to obtain approval for our product candidates, our ability to successfully defend potential future litigation, changes in local or national economic conditions as well as various additional risks, many of which are now unknown and generally out of the Company's control, and which are detailed from time to time in reports filed by the Company with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. BioVie Inc. does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law.
For Investor Relations Inquiries:
Contact:
Bruce MackleManaging Director LifeSci Advisors, LLC
bmackle@lifesciadvisors.com
For Media Inquires
Melyssa Weible
Managing Partner, Elixir Health Public Relations
Ph: +1 201-723-5705
mweible@elixirhealthpr.com
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Source: BioVie, Inc.
BioVie to Present Overview of Bezisterim Clinical Data on Longevity at 11th Aging Research and Drug Discovery Meeting
Presentation to showcase potential impact of bezisterim on biological age, gene expression and measures of aging-related diseases from growing body of clinical evidence
CARSON CITY, Nev., Aug. 13, 2024 (GLOBE NEWSWIRE) -- BioVie Inc., (NASDAQ: BIVI) (“BioVie” or the “Company”) a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders and advanced liver disease, today announced that a poster presentation will be shared at the 11th Aging Research and Drug Discovery Meeting (ARDD 2024) being held August 26-30, 2024 in Copenhagen, Denmark.
The presentation “Bezisterim Effects on Biological Age, Alzheimer’s Epigenetics, and Neurologic Assessments” will provide an overview of clinical data to-date on bezisterim, focusing on various analyses and measurements related to longevity and its ability to affect the biological aging process. The presentation will be given by Christopher L. Reading, BioVie’s Senior Vice President, Alzheimer’s Disease Program, on Tuesday, August 27 from 14:40 - 15:00 CEST.
Details of the presented data and conclusions will be announced once the presentation is made public at the conference.
About Bezisterim
Bezisterim (NE3107) is an orally bioavailable, BBB-permeable, insulin-sensitizer that is also anti-inflammatory. In addition, it is not immunosuppressive and has a low risk of drug-to-drug interaction. Bezisterim has the potential to reduce symptoms of long COVID, including fatigue and cognitive dysfunction. Persistently circulating viral spike proteins are believed to trigger TLR-4 driven activation of NFkB and the subsequent expression of inflammatory cytokines (IL-6, TNF, IFNg). NE3107 has been shown to modulate the activation of NFkB and thus modulate inflammation.
Bezisterim is being investigated for Alzheimer’s disease (AD) and Parkinson’s disease (PD). BioVie has conducted and reported efficacy data on its Phase 3 randomized, double-blind, placebo-controlled, parallel-group, multicenter study to evaluate bezisterim in patients who have mild-to-moderate AD (NCT04669028). Results of a Phase 2 investigator-initiated trial (NCT05227820) showing bezisterim-treated patients experienced improved cognition and biomarker levels were presented at the Clinical Trials on Alzheimer’s Disease (CTAD) annual conference in December 2022. An estimated six million Americans suffer from AD. A Phase 2 study of bezisterim in PD (NCT05083260) has been completed, and data presented at the AD/PD™ 2023 International Conference on Alzheimer’s and Parkinson’s Diseases and related neurological disorders in Gothenburg, Sweden in March 2023 showed significant improvements in “morning on” symptoms and clinically meaningful improvement in motor control in patients treated with a combination of bezisterim and levodopa vs. patients treated with levodopa alone, and no drug-related adverse events.
About BioVie Inc.
BioVie Inc. (NASDAQ: BIVI) is a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders and advanced liver disease. In neurodegenerative disease, the Company’s drug candidate bezisterim inhibits inflammatory activation of ERK and NFkB (e.g., TNF signaling) that leads to neuroinflammation and insulin resistance, but not their homeostatic functions (e.g., insulin signaling and neuron growth and survival). Both are drivers of AD and PD. In liver disease, the Company’s Orphan drug candidate BIV201 (continuous infusion terlipressin), with U.S. Food and Drug Administration (“FDA”) Fast Track status, is being evaluated and discussed with guidance received from the FDA regarding the design of Phase 3 clinical testing of BIV201 for the treatment of ascites due to chronic liver cirrhosis. The active agent is approved in the U.S. and in about 40 countries for related complications of advanced liver cirrhosis. For more information, visit http://www.bioviepharma.com.
Forward-Looking Statements
This press release contains forward-looking statements, which may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. In this press release, forward-looking statements include, but are not limited to, the potential impact of bezisterim on cognition and function among study participants and topline data from the bezisterim trial. Although BioVie Inc. believes such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Actual results may vary materially from those expressed or implied by the statements herein due to the Company's ability to successfully raise sufficient capital on reasonable terms or at all, available cash on hand and contractual and statutory limitations that could impair our ability to pay future dividends, our ability to complete our pre-clinical or clinical studies and to obtain approval for our product candidates, our ability to successfully defend potential future litigation, changes in local or national economic conditions as well as various additional risks, many of which are now unknown and generally out of the Company's control, and which are detailed from time to time in reports filed by the Company with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. BioVie Inc. does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law.
For Investor Relations Inquiries:
Contact:
Bruce MackleManaging Director LifeSci Advisors, LLC
bmackle@lifesciadvisors.com
For Media Inquires
Melyssa Weible
Managing Partner, Elixir Health Public Relations
Ph: +1 201-723-5705
mweible@elixirhealthpr.com
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Source: BioVie, Inc.