FLGC is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world

CEO Clifford Starke is so confident about the future of Flora Growth that he has purchased over 1.3 MILLION shares of the company and is a major insider

Cannabis earns higher tax revenue than alcohol in 9 states FLGC has over 400 products in 15 Unique categories

READ THE INVESTOR PRESENTATION HERE

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Hello Everyone,

We have a company back on our radar that we took a look at just few weeks ago.

We showed you this one when it was sitting around 1.70. It ran all the way to 2.10.

Why is this sector hot again after all these years?

As of August 2024, cannabis is now legal in 38 U.S. states for medical use and fully legal in 24 U.S. states. As more U.S. states and countries legalize the plant for both recreational and medicinal uses, investors are taking greater interest in adding companies in the growing space to their portfolios.

Federal prohibition has been a thorn in the side of cannabis companies, as federal law makes it significantly more expensive to run cannabis related businesses and forces these companies to be subject to much higher tax rates. ’ If federal rescheduling of cannabis from Schedule I to Schedule III cannabis occurs, operators will have their tax rates reset to normal corporate tax rates adding cash to the bottom line. Rescheduling to Schedule III will still require FDA approval for any product containing cannabis to be sold but should ease research into therapeutic uses for cannabis. It is not yet clear that rescheduling will occur, but political and agency signals seem to be supportive of rescheduling. Until then cannabis remains a Schedule I substance.

Many people hope that rescheduling facilitates the sale of cannabis products that help them reduce stress, improve sleep, or manage pain.

Around nine-in-ten Americans say marijuana should be legal for medical or recreational use, according to a January 2024 Pew Research Center survey.

Pull up FLGC right away and start researching it now.

Flora Growth has been actively acquiring companies over the past few years in hopes of expanding its business both in the U.S. and globally.

CEO Clifford Starke is so confident about the future of Flora Growth that he has purchased over 1.3 MILLION shares of the company and is a major insider!

MAJOR CATALYSTSOne of the first U.S. exchange listings for a cannabis company
Secured the first cannabis license and gram sold and obtained cultivation license in Germany.
Raised an aggregate of $135 million since inception
Maintains a clean balance sheet with no long-term debt, $6.1 million cash, and $2.0 million available on lines of credit
13.3 million shares outstanding and 10% insider ownership
Earned $76.1 million in revenue in 2023 with YOY Growth – 128%; Reduced cash used in operations by 91% in Q2 2024
Employs 108 professionals across the globe
Active in 28 countries with 20,000+distribution points
Focused on acquiring cashflow positive and strategic businesses
Over 400 products across 15 unique categories
One of the best selling CBD gummies in the world
Buy recommendation and $6 share price issued by Roth MKM

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The legal cannabis industry is still in its early stages and the market opportunities remain significant, especially if the plant may be headed towards federal legislation in the United States!

Now may be one of the most exciting times to have your eyes on the legal cannabis space as the U.S. may be in the beginning of a wave of favorable legislative reforms with both major party presidential candidates expressing support!

Recent Product Launches and Partnerships

• Vessel unveiled the second-generation Compass Rise – the next evolution in functionality and elegance. Built for the discerning connoisseur, Compass Rise embodies sophistication while delivering what consumers have come to expect from Vessel’s products. From its sleek design, cutting-edge technology, and the ability to stay upright, every aspect of Compass Rise reflects Vessel’s dedication to meeting changing market trends. Compass Rise features a nearly indestructible metal frame, enhanced heat settings, and first-in-class ergonomics. Compass Rise is now available for purchase on the Vessel Brand website, through Multi-State Operators (“MSOs”) and select retailers nationwide.
• JustCBD introduced new products to its line of offerings – JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies and JustCBD+ Sleep Magnesium and Melatonin Raspberry Gummies. These innovative gummies are designed to support stress management and promote relaxation, as well as enhance sleep quality. The JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies are formulated with an optimal blend of Gaba and L-Theanine, renowned for their calming properties. These ingredients are combined to assist users in managing stress and attaining a state of relaxation. The mixed berry flavor enhances the experience, making stress relief both effective and amiable. Melatonin gummies are one of the Company’s best sellers.
• The Company entered partnerships for the distribution of Vessel Brands in the United Kingdom, and in Israel with Althea Group Holdings Limited and IM Cannabis Corp., respectively.
• Flora entered an exclusive distribution agreement with Me Raw Trade Ltd. to distribute both JustCBD and Vessel branded products in Poland.

PRODUCTS

JUSTCBD

JustCBD is an established CPG wellness brand with over 300 products and a seamless omni-channel approach that includes a direct-to-consumer business with over 300,000 customers and a network of over 14,000 distribution points across the United States and internationally. Flora acquired the brand in February of 2022.

JustCBD high quality CBD products are made from organically sourced USA-grown hemp. JustCBD carries a wide range of CBD items for sale, including everything from Gummies and oil to soothing creams and pet treats. It has more than 22,000 5-star reviews. Every CBD product is GMP certified, as well as third party laboratory tested to confirm buyers’ safety. For more information, visit www.justcbdstore.com.

This NASDAQ-traded small cap firm also has an established pipeline into the growing German market!

In fact, FLGC’s wholly owned subsidiaries have been active in Germany since 2017, obtained the FIRST medical cannabis license in the country and are also responsible for selling the first gram of medical cannabis in Germany.

With the largest population and the greatest purchasing power in Europe, Germany boasts Europe’s fastest growing cannabis market. With the following 2 phases of German legalization expected in the coming 12-18 months, Germany may become the largest federally legal adult use cannabis country!!

This bodes well for Flora Growth Corp. (NASDAQ: FLGC) who has acquired TruHC in an all-share deal valued at $6.4M. Majority control of TruHC was acquired in April of 2024.

Why is this a big deal?

Because there is a limited number of entities that can bring flower globally to supply the burgeoning German market.

“The acquisition of TruHC is expected to provide Flora with the runway it needs to maximize the benefits of Germany’s cannabis legislation. We intend to touch on many verticals in the medical and recreational cannabis realms in Germany. We anticipate becoming a leader and at the forefront of the industry, which has the potential to spread to the rest of Europe. Together, we are excited to assume pack leadership in a sector poised for explosive growth.”

Clifford Starke, Chief Executive Officer

TruHC

TruHC Pharma GmbH is a medical cannabis developer and distributor based in Hamburg, Germany that holds an EU-GDP certification as an importer, distributor and manufacturer of medical cannabis, and operates a production facility with a cutting-edge cannabis laboratory. The company also holds an EU-GMP license.

TruHC is expected to contribute the following to Flora:

• A GDP wholesale license and an EU-GMP processing and production license for medical cannabis. It also owns and operates an EU-GMP certified laboratory ready for instant cannabis analysis as required for the new Cannabis Social Clubs.
• The facility of TruHC is a flexible production space with EU-GMP certified modules that can be extended and customized for any production process from processing to extraction and enables a license extension for a future in country cultivation of medical cannabis and supply of cannabis dispensaries expected to be opened in 2025 during phase 3 of legalization. TruHC also holds a narcotic license with EU-GMP certified storage.
• TruHC’s licenses allow TruHC to apply for new medical cannabis and cultivation licenses and become an official cannabis test lab for upcoming cannabis social clubs. It also enables international import of seeds and flowers for future distribution.

Germany made history this year by becoming the largest country in the EU to legalize recreational cannabis!

On April 1, 2024, Germany legalized recreational cannabis with explosive growth.With approximately 230,000 medical cannabis patients prior to legalization, Germany continues to lead the way in European medical cannabis; only represents 0.28% of the population. Other countries, such as Australia, have up to Size of global cannabis market. Source: Prohibition Partners 2.3% of population (1.7 million patients) as medical cannabis patients.More than 40 countries have legalized cannabis fully or partially for medical and/or adult use, with the total global market over $100 billion, which Germany representing 10% of the total global market.Germany is the gateway to the European Union with the total market potential after legalization projected reach 100 million cannabis consumers, which is larger than the U.S.

The EU Market is Booming

• The cannabis market in Europe is forecasted to achieve $33 billion by 2030 according to BDS Analytics with Germany leading the pack.
• According to Prohibition Partners, the European medical cannabis market is expected to reach $3.5 billion by 2025.
• Germany represents half of Europe’s medical cannabis market, with 2023 sales of $427 million to over 230,000 patients.
• The medical market opportunity alone is expected to reach $3 billion in Germany and $45 billion within Europe over the longer-term.
• The German legal recreational market has the potential to reach $4.2 billion according to Forbes.

Countries such as Germany have taken steps to facilitate access to cannabis. Germany represents half of Europe’s medical cannabis market, with 2023 sales of $427 million to over 230,000 patients, and ongoing research and clinical trials for several marijuana-based medications are underway.

As the EU’s market for cannabis products continues to grow, Flora Growth Corp. (NASDAQ: FLGC) aims to further capitalize with Phatebo GmbH!

“An early focus on Germany, highlighted by 2017 medical sales and a late 2022 acquisition of FGH, has positioned Flora to capitalize on legislative changes (home cultivation began April 1). Flora intends to leverage Phatebo relationships (part of FGH) to move medical cannabis from third parties into Germany.” – ROTH MKM

Phatebo GmbH is a leading distributor of export pharmaceuticals and medical cannabis products to the burgeoning European Union. Phatebo GmbH accelerates Flora’s expansion in Europe’s largest medical cannabis market.

SEE THE STOCK CHART

Phatebo GmbH

Phatebo GmbH is a reliable partner in the healthcare industry. This dynamically developing pharmaceutical company is based in Hilzingen Germany, on the western shore of Lake Constance. Through its widespread and qualified supplier network, the company can offer its customers a wide range of branded Rx and OTC medicines, as well as medical devices, at attractive prices.

Flora is hopeful that a recent Frankfurt Stock Exchange listing will support FLGC’s trading liquidity and facilitate investment in Flora by European investors, .

As the global cannabis industry expands, it’s often the “pick and shovel” companies—those providing essential tools and services—that are most profitable, not necessarily the growers…

This highlights Flora Growth Corp. (NASDAQ: FLGC)’s vapes brand Vessel – the company’s fastest growing segment!

• In the second quarter of 2024, Vessel maintained a gross profit margin of 53% on sales of $1.4 million and over 60 new wholesale customers were added to the Vessel network in the quarter, including several Multi-State Operators.

Vessel

Vessel’s mission is to be the world’s leading producer of consumer technology and accessories. The company’s products are built better, designed smarter and inspire optimism and happiness.

The company’s goal is to make every experience more expressive and personal, and to deliver the best performance in our line. The collection is an honest display of Vessel’s attention to detail and craftsmanship that’s second to none.

Today, cannabis vaping is one of the most preferred methods of cannabis consumption, courtesy largely because of its convenience and effectiveness.

The global cannabis vaporizer market is anticipated to expand 3.5X its value from 2021 to 2031 according to FactMr.com. Legalization of cannabis in many countries and changes to regional policies are key to the growth.

Vessel is consistently rolling out innovative products and is quickly growing into a leading vaping company.

Flora Growth Corp. (NASDAQ: FLGC) has recently closed on its acquisition of Australian Vaporizers. This is a milestone in the company’s efforts to buy e-commerce engines and to use them to sell Vessel!

In August of 2024, FLGC closed on its acquisition of Australian Vaporizers. The acquisition has the potential to drive synergies with Flora’s existing portfolio of brands, including selling Vessel Brand products in Australia, which is Flora’s fastest growing segment.

Australian Vaporizers

Australian Vaporizers was founded in 2010 and has become one of the largest online retailers of vaporizers, hardware, and accessories in Australia. It is an online expert for aromatherapy products, specializing in dry herb vaporizers. It has been providing vapes, accessories and knowledge to enthusiasts and newcomers alike. Its websitewww.australianvaporizers.com.au is a popular designation in the country with a large database of satisfied customers. Australian Vaporizers sold over 92,000 units to over 30,000 active customers through business to business and direct to consumer channels.

One of the biggest disruptors to hit the beverage industry is THC-infused beverages and Flora Growth Corp. (NASDAQ: FLGC) is aiming to be at the forefront of this niche category!

Flora Growth Corp. (NASDAQ: FLGC) Has Formed a 50/50 Joint Venture to Establish Peak USA JV LLC. (“Peak USA”).

This Marks FLGC’s Strategic Entrance into the Growing Cannabis-infused Beverage Market!

Highlights

• Peak is a recognized market leader in cannabis-infused beverages and has a 40% market share in Canada.
• Peak powers the biggest brands in the world and has 8 years of industry-defining experience.

The goal is to produce the next generation of cannabis infused beverages for the U.S. market.

According to Headset Data, the beverage market segment currently represents only 1% to 3% of the U.S. cannabis market. First-time daily cannabis use overtook alcohol, with roughly 17.7 million users compared to 14.7 million for alcohol.

The partnership is strategically positioned to establish cannabis beverages distribution in the U.S. by via CPG channels like wine and liquor stores.

The joint venture will leverage the strengths and resources of both Peak and Flora to capitalize on current commercial opportunities in the beverage market in the U.S., driving mutual growth and success. Peak contributes production know-how, while Flora brings a wealth of brand launching, sales and marketing expertise within the dynamic landscape of lifestyle brands in the U.S.

In late November of 2023, Total Wine and More, the largest independent alcoholic beverage retailer in the country, became the first major liquor store in the US to sell drinks containing THC.
This proves further that THC-infused beverages are going mainstream!

The drinks are being marketed as an alternative to alcohol which explains why alcohol giants are climbing on board.

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Flora Growth Corp. Reports Second Quarter 2024 Financial Results

Fort Lauderdale, Florida–(Newsfile Corp. – August 12, 2024) – Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) (“Flora” or the “Company”) reported today its financial and operating results for the three and six months ended June 30, 2024.

“In the second quarter of 2024, we at Flora, demonstrated an aptitude to make accretive acquisitions and form strategic partnerships to capitalize on the most robust market trends. In Germany, we acquired TruHC Pharma GmbH in response to the de-scheduling of cannabis, the reforms surrounding cultivation for personal use, the establishment of cannabis social clubs, and the removal of cannabis from the list of prohibited substances in the Narcotics Act. In the United States, we entered a joint venture with Althea Group Holdings to capitalize on the rapid growth in the beverages market. In Australia, we acquired Australian Vaporizers to expand our e-commerce foothold and Vessel’s reach,” said Clifford Starke, Chief Executive Officer.

“Our operating expenses and cash flows used in operating activities have decreased notably across the board compared to the prior period. We ended the quarter with cash of $6.1 million and set the stage for a wide array of financing alternatives to further fuel our business plan,” added Mr. Starke.

“Finally, we commend the U.S. for moving to reschedule cannabis U.S. federal law. We believe it is the beginning of a wave of favorable legislative reforms with both major party presidential candidates expressing support,” concluded Mr. Starke.

TruHC Acquisition

Flora acquired TruHC in an all-share deal valued at $6.4 million based on the closing price of Flora on March 28, 2024, of $2.31 per share. The first closing occurred on April 22, 2024, in which 2,135,199 Flora shares were issued in exchange for 77% of TruHC. The second closing involving the issuance of 635,363 Flora shares for the remaining 23% of TruHC will occur upon shareholder approval. TruHC is expected to contribute the following to Flora:

• A GDP wholesale license and an EU-GMP processing and production license for medical cannabis. It also owns and operates an EU-GMP certified laboratory ready for instant cannabis analysis as required for the new Cannabis Social Clubs.
• The facility of TruHC is a flexible production space with EU-GMP certified modules that can be extended and customized for any production process from processing to extraction and enables a license extension for a future in country cultivation of medical cannabis and supply of cannabis dispensaries expected to be opened in 2025 during phase 3 of legalization. TruHC also holds a narcotic license with EU-GMP certified storage.
• TruHC’s licenses allow TruHC to apply for new medical cannabis and cultivation licenses and become an official cannabis test lab for upcoming cannabis social clubs. It also enables international import of seeds and flowers for future distribution.

Australian Vaporizers Acquisition

Flora acquired Australian Vaporizers in an all-share deal valued at $0.7 million based on the closing price of Flora’s common shares on June 3, 2024. The transaction closed on June 4, 2024.

• Australian Vaporizers was founded in 2010 and has become one of the largest online retailers of vaporizers, hardware, and accessories in Australia. It is an online expert for aromatherapy products, specializing in dry herb vaporizers.
• It has been providing vapes, accessories and knowledge to enthusiasts and newcomers alike through its website www.australianvaporizers.com.au.
• Australian Vaporizers sold over 92,000 units to over 30,000 active customers through business to business and direct to consumer channels. Australian Vaporizers has the potential to drive synergies with Flora’s existing portfolio of brands, including selling Vessel Brand products in Australia, which is Flora’s fastest growing segment.

Joint Venture with Althea Group Holdings

Flora and Althea Group Holdings (“Althea”) established Peak USA JV LLC (“Peak USA”) – a 50/50 joint venture aiming to capitalize on the beverages market in the United States.

• Peak USA will link Flora’s U.S. – based CPG team with Althea’s Peak Processing Solutions (“Peak”), which is a recognized market leader in cannabis-infused beverages. Peak has a 40% market share in Canada.
• Peak USA will combine Flora’s brand-launching expertise with Althea’s processing experience to produce the next generation of beverages for the U.S. market. Peak contributes production know-how, including its world-class emulsion technology, while Flora brings a wealth of brand launching, sales and marketing expertise within the dynamic landscape of lifestyle brands in the U.S.
• The partnership is strategically positioned to establish cannabis beverage distribution in the U.S. by adeptly handling regulations and facilitating market access via CPG channels like wine and liquor stores.
• According to Headset Data, the beverage market segment currently represents only 1% to 3% of the U.S. cannabis market. First-time daily cannabis use overtook alcohol, with roughly 17.7 million users compared to 14.7 million for alcohol.

Financing Activities

• The Company filed the required forms to initiative a Regulation A Offering at a maximum capacity of $75.0 million with Aegis Capital Corp. (“Aegis”) being the sole bookrunner on the Offering.
• The Company entered an At-The-Market (“ATM”) Issuances Sales Agreement with Aegis with aggregate offering price of up to $3.8 million. The Company has not yet sold any shares as part of the ATM.
• Flora closed an underwritten offering of 1.7 million common shares for aggregate gross proceeds of approximately $3.23 million, prior to deducting underwriting discounts and other offering expenses. The Company’s Chief Executive Officer, Clifford Starke, purchased shares in this offering.

Regulatory Developments

In April 2024, Germany embarked on a historic cannabis legalization.

• Adults over the age of 18 in Germany are allowed to possess up to 50 grams of cannabis for private consumption and grow up to three plants. Adults are allowed to join nonprofit social clubs with a maximum of 500 members. Individuals are allowed to buy up to 25 grams per day, or a maximum of 50 grams per month.
• With the largest population and the greatest purchasing power in Europe, Germanyboasts Europe’s fastest growing cannabis market. With the following 2 phases of German legalization expected in the coming 12-18 months, Germany is expected to become the largest federally legal adult use cannabis country.
• With approximately 230,000 medical cannabis patients, Germany continues to lead the way in European medical cannabis as well. Following Germany are Italy, the Netherlands, Poland, Denmark and the Czech Republic, with the total number of cannabis patients in Europe is estimated to be 500,000 in 2023, and growth of around 500% is expected over the next five years.

In May 2024, the U.S. announced that his administration was moving to reschedule cannabis under U.S. federal law.

• The Justice Department is expected to post its proposed rule to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act in the Federal Register.
• A 60-day public comment period is expected before the rule is potentially finalized. The White House announcement came shortly after reports emerged that the Drug Enforcement Administration was about to reclassify cannabis as a Schedule III drug.

New Product Launches and Partnerships

• Vessel unveiled the second-generation Compass Rise – the next evolution in functionality and elegance. Built for the discerning connoisseur, Compass Rise embodies sophistication while delivering what consumers have come to expect from Vessel’s products. From its sleek design, cutting-edge technology, and the ability to stay upright, every aspect of Compass Rise reflects Vessel’s dedication to meeting changing market trends. Compass Rise features a nearly indestructible metal frame, enhanced heat settings, and first-in-class ergonomics. Compass Rise is now available for purchase on the Vessel Brand website, through Multi-State Operators (“MSOs”) and select retailers nationwide.
• JustCBD introduced new products to its line of offerings – JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies and JustCBD+ Sleep Magnesium and Melatonin Raspberry Gummies. These innovative gummies are designed to support stress management and promote relaxation, as well as enhance sleep quality. The JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies are formulated with an optimal blend of Gaba and L-Theanine, renowned for their calming properties. These ingredients are combined to assist users in managing stress and attaining a state of relaxation. The mixed berry flavor enhances the experience, making stress relief both effective and amiable. Melatonin gummies are one of the Company’s best sellers.
• The Company entered partnerships for the distribution of Vessel Brands in the United Kingdom, and in Israel with Althea Group Holdings Limited and IM Cannabis Corp., respectively.
• Flora entered an exclusive distribution agreement with Me Raw Trade Ltd. to distribute both JustCBD and Vessel branded products in Poland.

Frankfurt Stock Exchange Listing

The Company’s common shares now trade on the Frankfurt Stock Exchange (“FSE”) under the symbol “7301”.

• The FSE is one of the world’s largest (behind only the Nasdaq and NYSE) organized exchange-trading market in terms of turnover and dealings with securities. The electronic trading platform of the FSE, XETRA, has made it the world’s second largest fully electronic cash market with direct linkage to all other major European financial hubs.
• This listing will help increase the Company’s trading liquidity and facilitate investment in Flora by European investors through the FSE listing as major financial hubs can be reached more easily.

U.S. Hemp Beverage Alliance

The Company has joined the U.S. Hemp Beverage Alliance.

• Beverages represent only a marginal component of the industry with tremendous potential for growth. According to Whitney Economics, the total demand for hemp-derived cannabinoids in the U.S. is valued at more than $28 billion with the total economic impact of the industry on the U.S. economy being more than $79 billion.
• Data Bridge Market Research estimates that the U.S. infused beverages market is expected to reach half a billion by 2030, with a CAGR of 14.7% during the forecast period.

Financial Highlights – Three Months Ended June 30, 2024

During the three months ended June 30, 2024, the Company reported:

• Net loss of $2.7 million compared to a net loss of $44.6 million in the comparable quarter, an improvement of 94% quarter-over-quarter.
• Cash used in operating activities of $0.3 million compared to cash used in operating activities of $3.5 million in the comparable quarter, an improvement of 91% quarter-over-quarter.
• Total operating expenses of $6.7 million, compared to $44.0 million in the comparable quarter.
• Adjusted EBITDA loss of $2.8 million compared to an Adjusted EBITDA loss of $3.9 millionin the comparable quarter.

JustCBD Highlights

• Loss from continuing operations of $1.4 million and Adjusted EBITDA loss of $1.3 million in the quarter.
• Maintained a gross profit margin of 34% on sales of $4.4 million. Just Internationalcontributed $0.2 million to sales across 11 countries.
• The top selling products in the quarter included the Bear, Nighttime Bear and Peach Gummies.
• Approximately 41% of revenues stemmed from our direct-to-consumer model, while approximately 59% was generated through business-to-business sales.
• Over 120 new wholesale customers were added to our network in the quarter.

Vessel Highlights

• Loss from continuing operations of $0.2 million and Adjusted EBITDA loss of $0.2 millionin the quarter.
• Maintained a gross profit margin of 53% on sales of $1.4 million.
• Core products represented 35% of sales and Compass products contributed 41% to sales; the largest individual item sold was Wood Slate/Walnut, adding 11% to sales.
• Approximately 59% of revenues stemmed from our direct-to-consumer model, while approximately 41% was generated through business-to-business sales.
• Finalized new product developments in the vaporizer and dry herb categories set to launch in the coming quarters.
• Over 60 new wholesale customers were added to our network in the quarter, including several Multi-State Operators.

Phatebo Highlights

• Income from continuing operations of $0.2 million and Adjusted EBITDA of $0.3 million in the quarter.
• Earned $9.6 million in revenue with gross margins of 8.4%.
• Branded pharmaceuticals were the largest contributors to sales, including medications from Merck, Vertex, Novartis, MSD, Novo Nordisk, AstraZeneca, Janssen, and Gilead Sciences.
• All sales were business-to-business sales.

Financial Highlights – Six Months Ended June 30, 2024

During the six months ended June 30, 2024, the Company reported:

• Net loss of $6.0 million compared to a net loss of $48.5 million in the comparable period, an improvement of 88% period over period.
• Cash used in operating activities of $1.6 million compared to cash used in operating activities of $7.8 million in the comparable period, an improvement of 79% period-over-period.
• Total operating expenses of $13.0 million, compared to $51.7 million in the comparable period.
• Adjusted EBITDA loss of $4.3 million compared to an Adjusted EBITDA loss of $4.7 millionin the comparable period.

JustCBD Highlights

• Loss from continuing operations of $1.3 million and Adjusted EBITDA loss of $1.2 million in the period.
• Maintained a gross profit margin of 43% on sales of $9.8 million. Just Internationalcontributed $0.4 million to sales across 11 countries.
• The top selling products in the quarter included the Nighttime Bear, Bear, Peach and CBD+ Calming Gummies.
• Approximately 37% of revenues stemmed from our direct-to-consumer model, while approximately 63% was generated through business-to-business sales.
• Over 260 new wholesale customers were added to our network in the period.

Vessel Highlights

• Loss from continuing operations of $1.3 million and Adjusted EBITDA loss of $0.4 millionin the period.
• Maintained a gross profit margin of 46% on sales of $2.7 million.
• Compass products represented 36% of sales and Core products contributed 31% to sales; the largest individual item sold was Core Black, adding 8% to sales.
• Approximately 56% of revenues stemmed from our direct-to-consumer model, while approximately 44% was generated through business-to-business sales.
• Finalized new product developments in the vaporizer and dry herb categories set to launch in the coming quarters.
• Over 95 new wholesale customers were added to our network in the period, including several Multi-State Operators.

Phatebo Highlights

• Close to breakeven on income from continuing operations and Adjusted EBITDA of $0.4 million in the period.
• Earned $18.8 million in revenue with gross margins of 6.8%.
• All sales were business-to-business sales.

EBITDA and Adjusted EBITDA are non-U.S. GAAP measures. A reconciliation of U.S. GAAP to non-U.S. GAAP financial measures has been provided in the section titled “About Non-GAAP Financial Measures”. Important disclosures regarding the use of non-U.S. GAAP supplemental financial measures are also included below.

Board Appointment

• The Company appointed Brendan Cahill as an independent director and member of each of the Company’s audit committee, compensation committee and nominating and corporate governance committee, effective May 2, 2024.
• Mr. Cahill was President and Chief Executive Officer of Excellon Resources Inc. from 2012 to 2022. Previously, he was Vice President Corporate Development and Corporate Secretary of the Pelangio group of companies. He is currently a Director of the Group Elevan Resourecs Corp. and former director of KORE Mining Ltd. And Cryptostar Corp. He is a member of the Transplant Cabinet at the University Health Network and a member of the Law Society of Ontario.

About Non-U.S. GAAP Measures

EBITDA and Adjusted EBITDA are non-U.S. GAAP financial measures that do not have any standardized meaning prescribed by U.S. GAAP and may not be comparable to similar measures presented by other companies. We calculate EBITDA as total net income (loss) from continuing operations, plus (minus) income taxes (recovery), plus (minus) interest expense (income), plus depreciation and amortization. We calculate Adjusted EBITDA as EBITDA plus (minus) non-operating expense (income), plus share based compensation expense, plus asset impairment charges, plus (minus) unrealized loss (gain) from changes in fair value, plus charges related to the flow-through of inventory step-up on business combinations, plus other acquisition and transaction costs. Management believes that EBITDA and Adjusted EBITDA provide meaningful and useful financial information as these measures demonstrate the operating performance of the business.

Management believes that this non-U.S. GAAP financial information is useful as a supplement to comparable U.S. GAAP financial information. Management reviews these non-U.S. GAAP financial measures on a regular basis and uses them, together with financial measures included in the Company’s financial statements, to evaluate and manage the performance of the Company’s operations. These measures should be evaluated in conjunction with the comparable U.S. GAAP financial numbers reported by the Company.

The reconciliation of the Company’s Adjusted EBITDA, a non-U.S. GAAP financial measure, to net (loss) income from continuing operations, the most directly comparable U.S. GAAP financial measure, for the six months ended June 30, 2024 and is presented in the table below:

About Flora Growth Corp.

Flora Growth Corp. is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.

https://justcbdstore.com/

https://www.vesselbrand.com/

Home

https://www.phatebo.de/home-en

https://www.australianvaporizers.com.au/

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NEWS

• Flora Growth Corp. Supports Germany’s Cannabis Model City Initiative, Pioneering Controlled THC Retail in Frankfurt and Hannover
• 3 days ago
• Flora Growth Corp. Targeting $4 Billion Market, Launching Parallel Import Business in Germany
• 4 days ago
• Flora Growth Corp. to Target $450 Million German Cannabis Market with Curaleaf Holdings, Inc. Supply Agreement
• 4 days ago
• Flora Growth Corp. Commends U.S. Vice President Kamala Harris for Prioritizing Cannabis Reform, Applauds Growing Bi-Partisan Support for U.S. Recreational Market Valued at $33 Billion
• 5 days ago
• Flora Growth Corp. Expands Beverage Portfolio with THC-Infused Cola Targeting $220 Million Beverage Market
• 6 days ago
• Flora Growth Corp. Provides Update on Hoshi Investment in Portugal
• Oct 23, 2024
• Flora Growth Corp. Appoints Omar Sharif Jr. as Special Advisor, Strengthening Commitment to Diversity and Social Advocacy
• Oct 16, 2024
• Flora Growth Corp. is Encouraged by the Harris Campaign’s Hallmark Proposal for Recreational U.S. Federal Cannabis Legalization
• Oct 15, 2024
• Dr. Manfred Ziegler Joins Flora Growth Corp. as Managing Director, Bolstering German Business with Unmatched Expertise
• Oct 10, 2024
• Flora Growth Corp. Applauds Germany’s New Industrial Hemp Legislation, Plans to Leverage Expertise for Market Entry
• Oct 9, 2024

Flora Growth Corp. Partners with Flowzz.com on E-Commerce StoreOct 8, 2024Flora Growth Corp. Expands Offering to Include Love Hemp Products on E-Commerce ChannelsOct 2, 2024Flora Growth Corp. Names Cannabis Connoisseur Captain Hooter as Special AdvisorOct 1, 2024Flora Growth Corp. Signs Exclusive Distribution Agreement with Nordic Tower AB for Vessel Products in Sweden and the Nordic RegionSep 26, 2024Flora Growth Corp. Applauds Senator Wyden for Introducing the Cannabinoid Safety and Regulations ActSep 25, 2024Flora Growth Corp. Participates in U.S. Hemp Roundtable Meetings to Advocate for Effective Legislation on Capitol HillSep 25, 2024Flora Growth Corfnounces Exclusive Distribution Agreement with Canapuff for Vessel Brand in the Czech RepublicSep 24, 2024Flora Growth Corp. Integrates Sezzle Financing Option for JustCBD and Vessel Purchases Across U.S. E-Commerce PlatformsSep 19, 2024Flora Growth Corp. Announces Supply Agreement with Blossom Genetics to Bring Colombian Medical Cannabis to GermanySep 18, 2024Clifford Starke, CEO of Flora Growth Corp., Appointed to HoshiCap Board of DirectorsSep 17, 2024Clifford Starke’s Holdings in Flora Growth Corp.Sep 12, 2024Flora Growth Corp. Appoints Harold Wolkin to Board of Directors; Clifford Starke Named ChairmanSep 12, 2024Flora Growth Corp. Unveils New Branding, Logo, Website in Exciting Design TransformationSep 10, 2024Flora Growth Announces Results of 2024 Annual and Special Meeting of ShareholdersAug 14, 2024Flora Growth Corp. Reports Second Quarter 2024 Financial ResultsAug 12, 2024Flora Growth Celebrates National CBD DayAug 8, 2024Flora Growth Announces Frankfurt Stock Exchange ListingAug 7, 2024Flora Growth Announces Launch of New Calm and Sleep GummiesAug 6, 2024Flora Growth Corp. Closes Acquisition of Australian VaporizersJun 5, 2024Lifeist Sells Australian VapesJun 5, 2024Vessel Brand Unveils the Second-Generation Compass Rise – The Next Evolution in Functionality and EleganceMay 30, 2024

‍

MANAGEMENT

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DISCLAIMER

THIS WEBSITE/NEWSLETTER IS OWNED SUBSIDIARY BY DEDICATED INVESTORS, LLC.

OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF SEVEN THOUSAND FIVE HUNDRED USD BY SIDEWAYS FREQUENCY LLC FOR A ONE DAY FLGC AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS. IN PREPARING THIS PUBLICATION, DEDICATED INVESTORS LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, DEDICATED INVESTORS LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. DEDICATED INVESTORS LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS DEDICATED INVESTORS LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. DEDICATED INVESTORS LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.

2nd quarter total revenues increased 29.8% to $31.8 million from $24.5 million

FPAY expects to add 500 new retail partner locations during the second half of 2024

Last year their total fundings increased 7.7% to $120.4 million from $111.8 million  

Total revenues for 2023 surpassed $115 Million

READ THE INVESTOR PRESENTATION HERE

________________________

‍Hello Everyone,

We have a brand mew profile for you to research heading into tomorrow’s session.

This one has been on fire the last month and been steadily moving up the chart.

Pull up FPAY immediately and start your research.

FlexShopper is an innovative payments provider and online retailer that helps everyday Americans afford products for their homes and other everyday essential items. With FlexShopper’s best-in-class proprietary application process, when a customer applies for a payment solution, it does not impact their credit score, and the Company has multiple payment options for all types of credit profiles, which provides tremendous value to both customers and retail partners.

FPAY serving a growing number of consumers who are getting squeezed by rising costs and limited access to traditional credit. In that respect, FPAY solutions can be a game-changer in the fintech space. Ironically, its simplicity is the value driver.

FlexShopper didn’t reinvent the credit markets—they simply made them more accessible with a unique business model that provides consumers with access to high-ticket items through flexible payment plans. It’s not a credit card. FPAY offers a lease-to-own service that provides a straightforward, interest-free way for customers to acquire goods. What makes FlexShopper unique in a retail sector that churns trillions of dollars each year? Its sophisticated digital platform.

Fintech Opportunity

FlexShopper’s value driver isn’t product-based; it’s technology-based, designed to seamlessly integrate with online and brick-and-mortar retailers’ sales platforms. That integration makes it easy for customers to apply for lease agreements and take home products that might otherwise be cost-prohibitive. In other words, FPAY removes the barriers associated with traditional credit applications and opens the door to millions of potential customers who need flexible payment options.

Asset Light, Dual Channel Business Model
FlexShopper’s technology and unique dual channel business model allows the Company to follow its customers, supporting cross-selling opportunities and repeat customer transactions. In fact, FlexShopper is channel agnostic and, of its in-store customers, approximately 23% are then captured on FlexShopper’s marketplace.

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B2C Channel – Online Marketplace

FlexShopper provides consumers with immediate purchasing power to buy products through www.flexshopper.com and additional corporate owned microsites

• 50% repeat customers
• 1.5x cash-on-cash returns in first year
• 77k+ SKUs from top retailers
• Dropship program eliminates inventory risk

B2B Channels – Patented Payment Method
FlexShopper provides retail merchants with greater consumer demand and higher sales conversions by providing a payment option on a retail partner’s eCommerce site or brick-and-mortar location
• 36% repeat customers
• Merchants experience an increase of ~40% in financed orders
• Supports incremental revenue opportunities for retail partners
• Significant growth in retail locations over the past three years

FlexShopper, Inc. Reports 2024 Second-Quarter Financial Results

BOCA RATON, Fla., Aug. 06, 2024 (GLOBE NEWSWIRE) — FlexShopper, Inc. (Nasdaq: FPAY) (“FlexShopper”), a leading national online lease-to-own (“LTO”) retailer and payment solution provider for underserved consumers, today announced its financial results for the quarter ended June 30, 2024.

Russ Heiser, Jr, Chief Executive Officer, stated, “Our second-quarter and year-to-date results are encouraging as the long-term growth strategies we are pursuing begin to take hold. Over the past two quarters we have focused on providing greater payment solutions to more customers, expanding retail revenue, and leveraging our established platform to provide expanded payment options to more retail partners. I am pleased with the progress we are making and during the second quarter we experienced strong growth with total revenue up 29.8%, total lease funding approvals increasing 102.2% compared to the same period last year, and we added 150 new retail partner locations. We expect to add an additional 500 new retail partner locations during the second half of 2024. In addition, we continue to focus on prudently managing risk and driving profitability. During the second quarter, the provision for doubtful accounts as a percentage of gross lease billings and fees decreased by 32.4% over the prior year period, and we experienced a 1,533.3% increase in adjusted EBITDA. Adjusted EBITDA for the 2024 second quarter was $4.9 million – the highest second-quarter level in two years.”

“While the economic environment remains fluid, we believe our expanded platform, strengthened financial model, strong asset quality, and access to capital will drive profitable growth in 2024 and beyond. As other payment providers adjust their credit standards or exit the market, FlexShopper continues to invest in expanding payment offerings, marketing capabilities, and distribution channels to take advantage of market share opportunities that may become available,” concluded Mr. Heiser.

Results for Quarter Ended June 30, 2024, vs. Quarter Ended June 30, 2023:

• Total lease funding approvals increased 102.2% to $74.8 million from $37.0 million
• Total revenues increased 29.8% to $31.8 million from $24.5 million
• Gross profit increased 89.3% to $15.9 million from $8.4 million
• Adjusted EBITDA(1) increased by $4.6 million to $4.9 million from $0.3 million
• Operating income of $2.4 million compared with operating loss of ($2.0) million
• Net loss attributable to common stockholders of ($2.7) million, or ($0.13) per diluted share, compared to net loss attributable to common stockholders of ($6.3) million, or ($0.29) per diluted share

Results for the Six Months Ended June 30, 2024, vs. the Six Months Ended June 30, 2023:

• Total lease funding approvals increased 69.7% to $118.1 million from $69.6 million
• Total revenues increased 18.8% to $65.7 million from $55.3 million
• Gross profit increased 53.6% to $33.8 million from $22.0 million
• Adjusted EBITDA(1)increased by $5.8 million to $12.5 million compared to $6.7 million
• Operating income of $7.4 million compared with operating income of $2.1 million
• Net loss attributable to common stockholders of ($4.0) million, or ($0.18) per diluted share, compared to net income attributable to common stockholders of ($7.5) million, or ($0.34) per diluted share

(1) Adjusted EBITDA is a non-GAAP financial measure. Refer to the definition and reconciliation of this measure under “Non-GAAP Measures”.

Liquidity – FlexShopper ended the first quarter of 2024 with cash of $4.9 million and $32.2 million of permitted borrowing capacity.

FlexShopper Partners with Versatile Credit to Expand Merchant Opportunities

FlexShopper providing LTO solutions to over 1,600 retail merchants through its partnership with Versatile Credit

Launch of enhanced application process to drive more originations through improved customer experience

FlexShopper expects to add over 100 new stores per quarter through its expanding partnership with Versatile Credit

BOCA RATON, Fla., Sept. 09, 2024 (GLOBE NEWSWIRE) — FlexShopper, Inc. (Nasdaq: FPAY), a prominent national online lease-to-own retailer and payment solutions provider, announces a partnership with Versatile Credit, a leading provider of software that connects merchants, lenders, and consumers to facilitate financing options at points-of-sale. This partnership integrates FlexShopper’s robust lease-to-own (LTO) services into Versatile Credit’s platform, enhancing consumer payment solution options across more than 1,600 tire & auto retail merchant locations in over 30 states. In the second quarter of 2024, applicants via the Versatile Credit platform were approved for over $8.3 million through FlexShopper.

Through its strategic collaboration with FlexShopper, Versatile Credit introduces a needed payment solution for its merchant partners that enhances operations in more than 1,600 tire & auto stores. FlexShopper’s differentiated technology platform streamlines the application process, ensuring the highest level of privacy and protection for customers, and expands adoption across Versatile Credit’s distribution network. Implementation and re-training of an enhanced application process is underway. The Company expects this will drive higher utilization rates across Versatile Credit’s merchant partners and expand FlexShopper’s LTO solutions to new merchant partners. As a result, FlexShopper expects to add over 100 new retail locations per quarter over the next several quarters through its growing partnership with Versatile Credit.

“We are thrilled to announce our enhanced partnership with Versatile Credit. During the second quarter, we approved over $8.3 million in LTO limits. We believe we are well positioned for total fundings to double by the fourth quarter, as our training efforts mature, and merchants become more familiar with our payment solutions and innovative application process ahead of the holiday season. We are excited to deepen our relationship with Versatile Credit and help more merchant partners increase conversion, drive higher ASPs, and grow sales,” stated Russ Heiser, CEO of FlexShopper.

Key Highlights:

• Streamlined Processes: Built to simplify the leasing application process, making it quicker and more efficient for both customers and retail partners.
• Enhanced Security: Ensuring the highest level of privacy and data protection by eliminating outdated paper application and retention and driving the application process through the customer’s own personal device.
• Increased Adoption and Funding: With focused field engagement and comprehensive training programs, combined with the optimized flow, FlexShopperanticipates doubling the funding approvals over the next year.

“Our expanding collaboration with FlexShopper aligns perfectly with our mission to innovate and expand the financing options available to consumers. By incorporating FlexShopper’s tailored LTO solutions into our platform, we are enhancing our ability to serve our retail partners and their customers more effectively, fostering greater financial inclusivity and enabling merchants to develop their financing platforms strategically and comprehensively,” said Vicki Turjan, COO at Versatile Credit.

NEWS

FlexShopper Files Registration Statement for Proposed Rights Offering to its Stockholders20 minutes agoFlexShopper Announces a Purchase Option for 91% of its Outstanding Series 2 Preferred Stock at a 50+% Discount to Liquidation Preference9 hours agoFlexShopper Files Patent Infringement Lawsuits Against Upbound Group, Inc. and Katapult Holdings, Inc.Oct 1, 2024FlexShopper Partners with Versatile Credit to Expand Merchant OpportunitiesSep 9, 2024FlexShopper to Present at H.C. Wainwright’s 26th Annual Global Investor ConferenceSep 5, 2024FlexShopper Partners with Terrace Finance to Expand Merchant OpportunitiesAug 26, 2024FlexShopper Partners with PayTomorrow to Enhance Consumer Payment OptionsAug 19, 2024FlexShopper, Inc. Reports 2024 Second-Quarter Financial ResultsAug 6, 2024FlexShopper, Inc. Schedules 2024 Second Quarter Financial Results Conference CallAug 5, 2024FlexShopper, Inc. Reports 2024 First Quarter and Year End Financial Results

May 13, 2024

MANAGEMENT TEAM

‍

SINCERELY,

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THIS WEBSITE/NEWSLETTER IS OWNED SUBSIDIARY BY DEDICATED INVESTORS, LLC.

OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF SEVEN THOUSAND FIVE HUNDRED USD BY SHORE THING MEDIA LLC FOR A ONE DAY FPAY AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS. IN PREPARING THIS PUBLICATION, DEDICATED INVESTORS LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, DEDICATED INVESTORS LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. DEDICATED INVESTORS LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS DEDICATED INVESTORS LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. DEDICATED INVESTORS LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.

NV-387’s Extremely Broad Antiviral is a Host Mimetic That Acts As a Decoy To Attract And Trap Many Diverse Viruses, Preventing the Virus from Replication and Reinfection of Other Cells

This Innovative Biotech Company Is Taking A Novel, Game-Changing Approach To Eradicating Many Respiratory Viruses Once And For All Including Tripledemic Threat Of COVID, RSV, FLU…

ANTIBODIES AND VACCINES ARE OUTDATED: NanoViricides, Inc has a more innovative approach that works even when viruses mutate

READ THE INVESTOR PRESENTATION HERE

___________________________

Hello Everyone,

We have a new profile that we want you to put back on your radar for Wednesday’s session and research it immediately.

You are definitely going to remember this one.

This is a company we showed you back in May when it was all the way down at 1.80 the session we asked you to research them. We also brought it to your attention back in mid-June when it was around 2.50.

By mid June NNVC went on a major run, closing green 6 session in a row and exploding all the way to 3.59 for a pure DOUBLE from our first emails in May and 45% in just 3 sessions from our emails in early June.

NNVC certainly had incredible run in early 2024 and by looking at the chart we are noticing it recently starting to stabilize since late September.

NanoViricides, Inc. (NYSE American: NNVC) looks well-positioned to be a market disruptor with nontoxic, effective antiviral therapies based on patented nanomedicine technology.

NanoViricides, Inc. (NYSE American: NNVC) is a global leader in the application of nanomedicine technologies to the safe and effective treatment of viruses and their variants INCLUDING drugs against Covid-19, RSV and other respiratory viruses!

Even with a decline since 2022, COVID-19 continues to hospitalize and kill people in the USA – the CDC website states 69,200 hospitalizations and 2,652 deaths since January 1, 2024; the worldwide market size for COVID-19 therapeutics is expected to exceed $16.2 Billion in 2031.

NANOVIRICIDES are better because they destroy viruses and their variants without relying on the patient’s immune system, thereby making them effective for populations that include geriatric and pediatric patients.

Antibodies only bind by two points to the virus, and destruction of the complex requires effective immune function, which is not the case in sick patients..

Vaccines only train the body into producing antibodies against the virus in the vaccine. Antibodies and vaccines are easily overcome by viruses by mutating in the field, hence the need for annual influenza vaccine updates.

NV-387 – A novel broad-spectrum antiviral

NanoViricides, Inc. (NYSE American: NNVC)’s lead drug candidate NV-387 (drug product NV-CoV-2),  a drug that  treats RSV, COVID-19, Long COVID, Influenza, Bird Flu H5N1, and other respiratory viral infections as well as Monkey-pox, has successfully completed Phase 1 clinical trials in healthy subjects with no reported adverse events, even at the highest and repeated dosages. Remarkably, NNVC has been able to develop NV-387 for oral administration already, as well as for injectable and inhalation formulations to enable many modes of use. The Company is currently focused on advancing NV-387 into Phase II human clinical trials for the treatment of RSV infection.

Susceptible viruses CANNOT escape NV-387, even as they continue to evolve in the field into variants. Why? Because  no matter how much the virus changes, it continues to use the same host-side signature to bind to and cause infection in the hosts, and thus the nanoviricide would be anticipated to continue to be effective even as the virus mutates to generate variants.

Thus NV-387 and other antiviral drugs designed on the nanoviricides platform can be expected to have decades of  effective usability against the target viruses similar to the life of current antibiotics against bacterial infections but in stark contrast to  current antiviral approaches.

A broad-spectrum antiviral drug such as NV-387 would be a highly desirable drug globally because it  would enable treatment by physicians of patients as soon as they present symptoms of a viral disease without waiting for a test to identify a specific type of viral infection. This is reminiscent of how antibiotics are prescribed, without specific infectious agent identification, relying on the ultra-broad-spectrum of the drug.

NV-387’s Extremely Broad Antiviral is a Host Mimetic That Acts As a Decoy To Attract And Trap Many Diverse Viruses, Preventing the Virus from Replication and Reinfection of Other Cells

Over 90% of human pathogenic viruses are known to use one or more “landing sites” that are in the Sulfated Proteoglycans (“SPG”) family. A successful host-mimetic nanoviricide drug using SPG as the key feature to attract viruses could theoretically be able to attack most if not all such viruses.

NV-387 is designed to mimic SPG and attack the virus as a cell-mimicking decoy. We have accumulated substantial evidence that in lethal viral infection animal studies, NV-387 demonstrated strong antiviral activity against a range of different virus families, exceeding or matching the activity of known approved drug agents.

Superior to Other Treatments???????????

NV-387 was substantially superior to remdesivir in coronavirus infections, using a model for SARS-CoV-2 (COVID) virus, as reported earlier. We believe that NV-387 continues to be one of the most active antiviral drugs against multiple coronaviruses, and that it is a viable clinical candidate for drug development to treat COVID, Long COVID, as well as potentially MERS, SARS, and seasonal coronavirus infections.

In treating Influenza, NV-387 was substantially superior to the three approved drugs, namely Tamiflu®, Rapivab® , and Xofluza® against an Influenza H3N2 lethal lung viral infection study, as previously reported. We believe that NV-387 is expected to possess strong antiviral activity against H5N1 “Bird Flu” as well, given that H5N1 viruses are known to bind to heparan sulfate proteoglycans, and based on the observed broad-spectrum activity of NV-387.

NNVC has also found that NV-387 is capable of completely curing a lethal RSV lung virus infection in animals, leading to indefinite survival of the animals, as reported recently. There is no cure for RSV, and no approved drug for treatment of RSV infection other than the toxic last-resort drug ribavirin.

Moreover, even novel viruses, whether from natural sources or bio-engineered, are expected to be susceptible to NV-387 if they employ SPG for gaining access to human cells to infect and cause disease. Thus, NV-387 could be highly valuable for preparedness against novel viral epidemics and pandemics.

NV-387 could thus be a single drug to treat all of the “tripledemic” viruses (COVID, RSV, FLU ), and more, when so approved!

Finally, NV-387 was at least as effective as the approved drug tecovitrimat (TPOXX®, SIGA), in a lethal intra-digital infection by ectromelia virus in mice. Importantly, a combined drug made from NV-387 and tecovirimat was more effective than either drug alone, indicating NV-387 “plays well” with tecovirimat and acts by a different mechanism.

• Smallpox poses a significant biodefense threat. Ectromelia virus is a native virus of mice in the poxvirus family and is one of the key animal model viruses for developing smallpox therapeutics. Tecovirimat is an approved drug for treating smallpox infection based on the FDA “Animal Rule”, and is stockpiled by the US “Strategic National Stockpile”. It was mobilized during the recent monkeypox epidemic.
• It is important to develop additional smallpox therapeutics that work well with tecovirimat and by themselves, since viruses pose the threat of drug escape by mutation; further, in a bio-terrorism scenario, a human-engineered smallpox virus resistant to existing drugs could be a potential threat.

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NanoViricides, Inc. Has Filed its Annual Report: Broad-spectrum Antiviral NV-387 Progressing to Phase II Clinical Trial – Multiple Indications of NV-387 Include RSV, Influenza, MPOX/Smallpox, COVID

SHELTON, CT / ACCESSWIRE / September 30, 2024 / NanoViricides, Inc. (NYSE American:NNVC ) (the “Company”), reports that it has filed its Annual Report on Form 10-K for the fiscal year ending June 30, 2024 with the Securities and Exchange Commission(SEC) on Friday, September 27, 2024. The report can be accessed at the SEC website (https://www.sec.gov/ix?doc=/Archives/edgar/data/1379006/000141057824001650/nnvc-20240630x10k.htm).

We reported that, as of June 30, 2024, we had cash and cash equivalent current assets balance of approximately $4.97 Million. In addition, we reported approximately $7.5 Million in Net Property and Equipment (P&E) assets (after depreciation). The strong P&E assets comprise our cGMP-capable manufacturing and R&D facility in Shelton, CT. The total current liabilities were approximately $1.36 Million. In comparison, as of June 30, 2023, we had cash and cash equivalent balance of approximately $8.15 Million, P&E assets of approximately $8.1 Million (after depreciation), and total current liabilities of approximately $0.53 Million.

The net cash utilized in the reported period for operating activities was approximately $6.31 million that included certain expenditures for Phase Ia/Ib clinical trial of NV-387 and drug manufacturing costs for this clinical trial.

We raised approximately $3.12 million net of commission and certain expenses in an At-the-Market offering (“ATM”) in the reported period at an average share price of $2.47.

With an additional raise of approximately $1.53 million subsequent to the period under the ATM, and an available line of credit that was increased to $3 million from $2 millionprovided by our founder and President Dr. Anil Diwan, we have approximately $9.5 million(approximately $8.1 million net of current liabilities) available for cash operational expenses going forward. As such, we reported that we do not have sufficient funding in hand to continue operations through September 30, 2025, for our planned objectives that include a Phase II clinical trial of NV-387 for RSV indication in the USA. As a result substantial doubt exists about the Company’s ability to continue as a going concern, as evaluated based on applicable guidelines. We are actively exploring additional required funding through non-dilutive grants and contracts, partnering, debt or equity financing pursuant to our plan. We believe that the Company has on-going access to the capital markets including the “At-The-Market” (ATM) agreement that became active around April 5, 2024. We have perviously adjusted our objectives and development plans on the basis of available resources and we will continue to do so.

NV-387 – A Potentially Revolutionary Antiviral Drug that the Viruses are Unlikely to Escape

We have made significant progress in the regulatory advancement of NV-387. A Phase Ia/Ib clinical trial in healthy subjects was completed with all subjects discharged as of end of December, 2023. There were no adverse events reported. Lab data analysis is currently being conducted. We are awaiting a final report.

Additionally, we have made significant progress in expanding the indications of NV-387, that would result in substantial improvement in the return on investment when regulatory approvals are obtained.

Our host-mimetic, direct-acting, broad-spectrum, antiviral agent. NV-387 was found to have activity that surpassed the activity of known agents in lethal virus infection animal model trials for COVID, RSV, and Influenza.

In fact, we found that NV-387 treatment possibly completely cured the lethal RSV infection in mice, based on indefinite survival of the animals with no lung pathology. There is currently no treatment for RSV infection. In particular, pediatric RSV infection treatment is an unmet medical need that we believe is of critical importance. Pediatric RSV treatment itself is expected to be a multi-billion-dollar market in the USA alone.

NV-387 treatment was found to be substantially superior to three approved anti-influenza drugs, namely, oseltamivir (Tamiflu®, Roche), peramivir (Rapivab®, Biocryst), and baloxavir (Xofluza®, Shionogi/Roche).

Additionally, NV-387 also demonstrated activity against lethal poxvirus infection animal models that was on par with the approved drug tecovirimat (TPOXX®, SIGA).

NV-387 acts by a mechanism that is significantly different compared to the tested existing antiviral agents for Influenza and for Poxviruses.

This demonstrated broad-spectrum activity of NV-387 against widely varying viruses is because NV-387 is designed to attack the virus particle by mimicking sulfated proteoglycan (S-PG) feature, and all of these viruses are known to utilize heparan sulfate proteoglycans for gaining cell entry.

Further, for all of these tested viruses, even as the virus genome changes in the field, NV-387 is expected to continue to be effective, and the virus would be highly unlikely to escape NV-387. This is because despite all of the genomic changes, the virus continues to use HSPG, as is well known. Thus NV-387 solves the greatest problem in antiviral countermeasures; the problem of virus escape. Viruses are known to escape all of the current antiviral tools that include vaccines, antibodies, and small chemical drugs.

Thus we anticipate that NV-387 would revolutionize the treatment of viral infections reminiscent of how penicillin revolutionized the treatment of bacterial infections.

Advancing NV-387 into Phase II Clinical Trials

In the ensuing year, we plan on advancing NV-387 into Phase II clinical trials. We believe that NV-387 qualifies under the MEURI WHO protocol to enter Phase II clinical trial for the treatment of MPOX disease that is a current epidemic in Central Africa (MEURI = Monitored Emergency Use of Unregistered and Investigational Interventions). This epidemic was declared a Public Health Emergency of International Concern (PHEIC) by the WHO in August, 2024. There is currently no drug available for treatment of MPOX since the clinical trial of tecovirimat did not demonstrate improvement in outcomes as compared to the standard of care, according to a press release by NIH in August, 2024.

We are also planning to advance NV-387 into a Phase II clinical trial for treatment of RSV infection in adults as part of the regulatory process required for registration of the drug for the treatment of pediatric RSV infection.

We plan on advancing the regulatory processes for NV-387 registration for other indications such as influenza and COVID via partnerships and non-dilutive funding.

As we meet the milestones, we believe we will be able to raise financing for further regulatory activities for NV-387 registration via non-dilutive grant funding, partnership revenues, as well as equity-based funding.

A New Era in Targeted Anti-Viral Therapeutics

NanoViricides, Inc. is a globally leading company in the application of nanomedicine technologies to the complex issues of viral diseases. The nanoviricide® technology enables direct attacks at multiple points on a virus particle. It is believed that such attacks would lead to the virus particle becoming ineffective at infecting cells. Antibodies in contrast attack a virus particle at only a maximum of two attachment points per antibody. In addition, the nanoviricide technology also simultaneously enables attacking the rapid intracellular reproduction of the virus by incorporating one or more active pharmaceutical ingredients (APIs) within the core of the nanoviricide. The nanoviricide technology is the only technology in the world, to the best of our knowledge, that is capable of both (a) attacking extracellular virus, thereby breaking the reinfection cycle, and simultaneously (b) disrupting intracellular production of the virus, thereby enabling complete control of a virus infection.

Our anti-viral therapeutics, that we call “nanoviricides®” are designed to appear to the virus like the native host cell surface to which it binds. Since these binding sites for a given virus do not change despite mutations and other changes in the virus, we believe that our drugs will be broad-spectrum, i.e. effective against most if not all strains, types, or subtypes, of a given virus, provided the virus-binding portion of the nanoviricide is engineered appropriately. Viruses would not be able to escape the nanoviricide by viral mutations since they continue to bind to the same cellular receptor and thus would be captured by the nanoviricide. Virus escape by mutations is a major problem in the treatment of viral diseases using conventional drugs.

Versatile Platform Technology

A nanoviricide is created by chemically attaching a virus-binding ligand, derived from the binding site of the virus on its cell surface receptor, to a nanomicelle flexible polymer. This binding site does not change significantly when a virus mutates

Tailor-made design and selection of (1) the virus-binding ligand; and (2) the backbone “nanomicelle”, separately, allows us to rapidly optimize drug candidates (a) against a number of viruses; (b) for desired pharmacokinetic characteristics (e.g. sustained effect); and (c) for different routes of administration. This versatility is unmatched in the Industry.

Virus-specific nanoviricides have been created against important viruses such as HIV, Influenza and Bird Flu by choosing highly virus-specific ligands

Broad-spectrum nanoviricides have been created that can bind to possibly as many as 90-95% of known viruses. The Company is developing broad-spectrum nanoviricides to combat several neglected tropical diseases, such as Dengue, Rabies, and Ebola/Marburg. This is similar to antibiotics such as penicillin against bacteria that exploit a feature common to all bacteria.

A NanoViricide® Attacking a Virus Particle: Unique, Novel, Nanotech Design

NanoViricides Executes an Agreement Encompassing All Antiviral Drug Treatments With Theracour, Including “Trojan Horse” Drugs

SHELTON, CT / ACCESSWIRE / September 26, 2024 / NanoViricides, Inc. (NYSE American.:NNVC) (the “Company”), a clinical stage global leader in broad-spectrum antiviral nanomedicines, reports today that it has now obtained a right of first refusal (ROFR) for all antiviral drug developments from the R&D firm TheraCour Pharma, Inc.(“TheraCour”).

NanoViricides has signed a broad Memorandum of Understanding Agreement (MoU) with TheraCour encompassing all antiviral drugs developments on September 23, 2024, an important step that provides the Company certain intellectual property rights for developing treatments against any viral infections.

NV-387, the Company’s lead drug, is proving to be a revolutionary drug that has demonstrated strong effectiveness, surpassing existing drugs, against a number of distinctly different types of viruses in animal studies. With this MoU in place, the increasing number of antiviral indications of a broad-spectrum drug such as NV-387 can be quickly and easily discovered and added by the Company to its portfolio of drugs in its development pipeline.

In addition to NV-387, certain “Trojan Horse” drugs that can completely cure most viral infections by attacking the virus lifecycle in multiple ways have been developed by the Company. This MoU expands NanoViricides Inc’s abilities to opportunistically and rapidly develop such drugs to treat viral infections of public health importance, even for those viruses that don’t exist today and cannot be predicted.

The new MoU provides NanoViricides with the ability to rapidly progress in such new endeavors and provides the important intellectual property rights to further develop multiple drug candidates towards a multitude of antiviral applications, many of which may have been previously considered to be intractable.

The MoU also codifies the process by which the two parties negotiate licenses to specific antiviral fields. As in the past, a license would not be restricted to a single drug, but rather would encompass all drugs that can be conceivably applicable with the R&D performed against the licensed field of antiviral application.

The revolutionary nanoviricide technology resulting in host-mimetic, direct-acting antiviral drugs is opening up a new era of treating viral infections just as penicillin opened up a new era and revolutionized the treatment of bacterial infections, enabling “one drug – many bugs” model instead of the current “one bug – one drug” model. NV-387, an example of the capabilities of nanoviricide technology, was developed in 2020 in response to the COVID pandemic and has completed a Phase I human clinical trial successfully. The Company is now planning for NV-387 to enter into Phase II clinical trials for evaluation of its efficacy against several viral diseases that include RSV, Influenza, Bird Flu, COVID, as well as MPOX/Smallpox infections.

What is a “nanoviricide”?

A “nanoviricide” is a uniform polymer that self-assembles into nanoscale droplets called “micelles”, that carries on its surface mimics of the cell-side receptor of the virus, and that hides in its belly lipid tentacles. It can also hold other guest APIs in its belly if needed. The nanoviricide thus “looks like” a cell to the virus, and the virus is fooled into binding it. Once the virus binds, we believe, the flexible and shape-shifting nanoviricide micelle would spread over the virus particle by virtue of merging the lipid tentacles that are hidden in its belly into the virus surface, in a well known process called “lipid-lipid mixing.” We believe this would destabilize the virus particle, uproot the viral glycoproteins required for binding to and entering the host cell, and thus render the virus particle incapable of infecting a cell.

What are “Trojan Horse” nanoviricide drugs?

A nanoviricide can hide in its “belly” (i.e. encapsulates) one or more drugs that can attack the virus in other ways. The nanoviricide holding the drugs is expected to attack the virus particle itself and thus block the virus from infecting cells. We call this “Re-Infection Inhibition”. The encapsulated drug can be protected from host’s metabolism and delivered into infected cells to block the virus from replicating inside the cell. If both of these parts of the virus lifecycle are blocked, the viral infection would be cured, except in the case of viruses that create latency. A different encapsulated drug can also be delivered to attack the virus in its latent or dormant phase, although this has been a topic of scientific research rather than drug development as of now. Thus the “Trojan Horse” capability of a naoviricide enables developing drug that can cure most virus infections, and can be developed in the future to cure even viruses that cause latency such as herpesviruses and HIV/AIDS that are non-curable at present.

TheraCour is founded by and substantially owned by Dr. Anil R. Diwan, who is also the Company’s co-founder. Dr. Diwan recused himself from the MoU discussions that were led by the Company’s Board of Directors in conjunction with legal advice from the Company’s counsel.

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NEWS

• NanoViricides President Dr. Diwan Interviwed in PODD Podcast; He Explains the Revolutionary Clinical Stage Broad-Spectrum Antiviral NV-387, and the Potential of the Platform to Revolutionize Fields Beyond Virology
• 1 day ago
• NanoViricides, Inc. Has Filed its Annual Report: Broad-spectrum Antiviral NV-387 Progressing to Phase II Clinical Trial – Multiple Indications of NV-387 Include RSV, Influenza, MPOX/Smallpox, COVID
• Sep 30, 2024
• NanoViricides Executes an Agreement Encompassing All Antiviral Drug Treatments With Theracour, Including “Trojan Horse” Drugs
• Sep 26, 2024
• MPOX is Emerging as a Global Threat – NanoViricides Investigating MEURI Protocol for Using NV-387 to Treat MPOX
• Aug 26, 2024
• NanoViricides Continues Its March Towards a Phase II Clinical Trial of NV-387 -
A Potentially Revolutionary First Line Antiviral Therapy for RSV, COVID, and Other Viral Infections
• Aug 19, 2024
• NanoViricides Provides an Update on Its Clinical Program and Strategy – NV-387 Could be As Revolutionary as Antibiotics
• Aug 8, 2024
• “NanoViricides Broad Spectrum Technology Represents Potential Paradigm Shift In Viral Therapy”; “Novel Anti-Viral Could Boost a US$3 Billion Market” – Conclude Two Independent Research Reports on NanoViricides
• Aug 1, 2024
• COVID is Here to Stay and NV-387 is a Much Needed Drug Against It, Reminds NanoViricides
• Jul 24, 2024
• A Single Drug Against Multiple Respiratory Virus Infections – COVID, RSV, Influenza, Bird Flu – Planning Next Phase of Clinical Trials, Says NanoViricides
• Jul 11, 2024

NanoViricides Reports Promising Results for NV-387 in Influenza A H3N2 Mouse ModelJun 26, 2024A Novel Broad-Spectrum Antiviral Against Influenza A Viruses, NV-387, Could Be an Important Weapon to Fight Bird Flu H5N1, Says NanoViricidesJun 24, 2024A Novel Broad-Spectrum Antiviral Against Influenza A Viruses, NV-387, Is Effective in Protecting Lungs from Damage in Lethally Infected Animal ModelJun 20, 2024Orally Administered NV-387 Results in Ideal Flat Blood Concentration Profile for Sustained Antiviral EffectJun 11, 2024The Sustained, Slow Declining, Blood Concentration Profile of NV-387 Enables Infrequent Dosing for Strong Antiviral EffectJun 4, 2024A First-In-Class, Broad-Spectrum Antiviral Agent Intending To Revolutionize Treatment of Viral Infections Including RSV, COVID, Influenzas and MoreMay 29, 2024NanoViricides Bolsters Partnership Efforts – Engages Aagami Inc.May 23, 2024Lethally RSV Infected Animals Orally Treated with NV-387 Showed Normal Lung Histology, Indicating Potential CureMay 20, 2024NanoViricides Has Filed its Quarterly ReportMay 15, 2024A Novel Broad-Spectrum Antiviral with Activity Against RSVMay 14, 2024

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MANAGEMENT

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Anil R. Diwan, PhDExecutive Chairman, President

Dr. Diwan has been President and Chairman of the Board of the Company since its founding in 2005 Dr. Diwan spearheaded the efforts for the Company’s 2013 uplisting from the OTC Markets to NYSE-American. Dr. Diwan has led several of the Company’s financing efforts since 2010.

Dr. Diwan invented novel polymeric micelle-based nanomedicine technologies as early as 1991. Dr. Diwan is a prolific inventor and a serial entrepreneur. Prior to co-founding NanoViricides, Inc., he has founded TheraCour Pharma, Inc., a privately held company focused in nanomedicines and cell-targeted drug delivery, and AllExcel, Inc., a company with diverse portfolios including nanomedicines, small chemicals, device technologies, as well as informatics. He has won several NIH SBIR (small business innovation research) grant awards. Anil holds a Ph.D. from Rice University, TX, a B.Tech. from Indian Institute of Technology, Mumbai (IIT-B), India, and has consistently held high scholastic ranks and honors. Dr. Diwan has over 25 years of Bio-Pharmaceutical R&D experience with over 20 years as an entrepreneur.

He has several patents issued internationally resulting from three fundamental international patent applications. Under Dr. Diwan’s leadership, NanoViricides, Inc. has been able to keep both administrative and R&D costs at extremely low levels while robustly expanding the drug pipeline every year. Dr. Anil R. Diwan was recognized as “Researcher of the Year” by BusinessNewHaven, a Connecticut Area Business Journal, in 2014.

Ms. Meeta R. Vyas, MBA (Fin.), BS (Chem. Eng.)

interim Chief Financial Officer

Ms. Vyas is known as a strong leader with board level experience and successful achievements as a Senior Executive in a broad range of entities including publicly listed corporations, non-revenue generating entities, and medium to large size companies. Meeta has over twenty-five years of experience in performance and process improvement of both publicly listed companies and non-revenue producing entities, in areas ranging from Finance and Operations to Strategy and Management. Meeta holds the distinction of being the first Indian woman to be named CEO of a publicly listed US corporation, Signature Brands, Inc., best known for “Mr. Coffee” and “Health-O-Meter” brand products. As CEO, acting COO and Vice Chairman of the Board of Signature Brands, Inc., she was responsible for the development and implementation of a turnaround plan, resulting in a return to profitability and growth within a short period of time. Later, as the CEO of the World-Wide Fund for Nature – India (WWF-India) and then as a Vice President of the National Audubon Society (USA), both non-revenue generating entities, Meeta successfully raised unrestricted funding that significantly exceeded annual requirements and also instituted financial processes to measure a variety of performance metrics. Earlier in her career, she was responsible for designing the strategy and initiating the implementation plan for the highly successful information technology outsourcing program at General Electric (GE). Also at GE, Ms. Vyas ran GE Appliances’ Range Products business unit having revenues exceeding $1 Billion where her team doubled operating income in less than two years. Prior to that, as a management consultant with McKinsey and Company, she served publicly listed companies in chemicals, industrial, and technology markets, primarily focusing on growth strategies, valuations, post-merger integrations, and logistics operations. Meeta is married to NanoViricides, Inc. President and Chairman Anil R. Diwan.

Ms. Vyas holds a MBA in Finance from Columbia University’s Graduate School of Business, and a BS in Chemical Engineering from the Massachusetts Institute of Technology.

NanoViricides won the IAIR AWARD as Best North American Company for Leadership in the Nanomedicine Sector.

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Randall W. Barton, PhD.Chief Scientific Officer – Consulting

Dr. Barton has experience in drug discovery and development of both small molecule and biological drug candidates in virology, immunology, inflammation, and cardiovascular diseases in the pharmaceutical and biotech industry as well as academic research and teaching experience. Most recently, he was Vice-President of Drug Discovery at A&G Pharmaceuticals, a biologics and diagnostics company. He retired at the Director level after 20 years at Boehringer Ingelheim Pharmaceuticals. During his time at Boehringer Ingelheim he performed drug development pre-clinical studies on nevirapine (Viramune), a non-nucleoside inhibitor of HIV reverse transcriptase and an important HIV drug.

Prior to joining Boehringer Ingelheim, he was on the faculty at the University of Connecticut Medical School where he was the recipient of an NIH Career Development Award conducting research and teaching in immunology. Dr. Barton has authored over 80 scientific publications, and has been the principal investigator leading to 5 patents. He has a Ph.D. in biochemistry from the University of Tennessee at Oak Ridge National Laboratory and a B.A. from Indiana University.  

Jayant Tatake, PhD.

Vice President, R&D

Jay Tatake is an organic chemist with over 25 years of experience in Research and Process Development of fine chemicals. His experience encompasses production scale-up, and large scale manufacture of raw materials for pharmaceuticals. Before joining NanoViricides, Inc., he was Assistant Director of Analytical R&D at Interpharm, Inc. Prior to that, he was Director of Analytical Services at Pharmax Group, Inc. Dr. Tatake has several years experience in Analytical methods development and Quality Control in cGMP environment. His experience includes bio-analytical methods development. Prior to Pharmax Group, he was in the Pharmacology Department, University of Connecticut Health Center, where he synthesized and developed novel bio-conjugates for bio-diagnostics applications.

Jay has a Ph.D. from Department of Chemical Technology, University of Bombay. He is a member of American Chemical Society (ACS). He has published several papers in leading journals and is a co-inventor of several patents.

SINCERELY,

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FLGC is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world

CEO Clifford Starke is so confident about the future of Flora Growth that he has purchased over 1.3 MILLION shares of the company and is a major insider

Cannabis earns higher tax revenue than alcohol in 9 states FLGC has over 400 products in 15 Unique categories

READ THE INVESTOR PRESENTATION HERE

_________________________

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Hello Everyone,

We want to turn our attention back to a sector that we haven’t taken a look at in quite some time.

The election has brought the cannabis arena back into the conversation.

As of August 2024, cannabis is now legal in 38 U.S. states for medical use and fully legal in 24 U.S. states. As more U.S. states and countries legalize the plant for both recreational and medicinal uses, investors are taking greater interest in adding companies in the growing space to their portfolios.

Federal prohibition has been a thorn in the side of cannabis companies, as federal law makes it significantly more expensive to run cannabis related businesses and forces these companies to be subject to much higher tax rates. ’ If federal rescheduling of cannabis from Schedule I to Schedule III cannabis occurs, operators will have their tax rates reset to normal corporate tax rates adding cash to the bottom line. Rescheduling to Schedule III will still require FDA approval for any product containing cannabis to be sold but should ease research into therapeutic uses for cannabis. It is not yet clear that rescheduling will occur, but political and agency signals seem to be supportive of rescheduling. Until then cannabis remains a Schedule I substance.

Many people hope that rescheduling facilitates the sale of cannabis products that help them reduce stress, improve sleep, or manage pain.

Around nine-in-ten Americans say marijuana should be legal for medical or recreational use, according to a January 2024 Pew Research Center survey.

Pull up FLGC right away and start researching it now.

Flora Growth has been actively acquiring companies over the past few years in hopes of expanding its business both in the U.S. and globally.

CEO Clifford Starke is so confident about the future of Flora Growth that he has purchased over 1.3 MILLION shares of the company and is a major insider!

MAJOR CATALYSTSOne of the first U.S. exchange listings for a cannabis company
Secured the first cannabis license and gram sold and obtained cultivation license in Germany.
Raised an aggregate of $135 million since inception
Maintains a clean balance sheet with no long-term debt, $6.1 million cash, and $2.0 million available on lines of credit
13.3 million shares outstanding and 10% insider ownership
Earned $76.1 million in revenue in 2023 with YOY Growth – 128%; Reduced cash used in operations by 91% in Q2 2024
Employs 108 professionals across the globe
Active in 28 countries with 20,000+distribution points
Focused on acquiring cashflow positive and strategic businesses
Over 400 products across 15 unique categories
One of the best selling CBD gummies in the world
Buy recommendation and $6 share price issued by Roth MKM

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The legal cannabis industry is still in its early stages and the market opportunities remain significant, especially if the plant may be headed towards federal legislation in the United States!

Now may be one of the most exciting times to have your eyes on the legal cannabis space as the U.S. may be in the beginning of a wave of favorable legislative reforms with both major party presidential candidates expressing support!

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Recent Product Launches and Partnerships

• Vessel unveiled the second-generation Compass Rise – the next evolution in functionality and elegance. Built for the discerning connoisseur, Compass Rise embodies sophistication while delivering what consumers have come to expect from Vessel’s products. From its sleek design, cutting-edge technology, and the ability to stay upright, every aspect of Compass Rise reflects Vessel’s dedication to meeting changing market trends. Compass Rise features a nearly indestructible metal frame, enhanced heat settings, and first-in-class ergonomics. Compass Rise is now available for purchase on the Vessel Brand website, through Multi-State Operators (“MSOs”) and select retailers nationwide.
• JustCBD introduced new products to its line of offerings – JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies and JustCBD+ Sleep Magnesium and Melatonin Raspberry Gummies. These innovative gummies are designed to support stress management and promote relaxation, as well as enhance sleep quality. The JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies are formulated with an optimal blend of Gaba and L-Theanine, renowned for their calming properties. These ingredients are combined to assist users in managing stress and attaining a state of relaxation. The mixed berry flavor enhances the experience, making stress relief both effective and amiable. Melatonin gummies are one of the Company’s best sellers.
• The Company entered partnerships for the distribution of Vessel Brands in the United Kingdom, and in Israel with Althea Group Holdings Limited and IM Cannabis Corp., respectively.
• Flora entered an exclusive distribution agreement with Me Raw Trade Ltd. to distribute both JustCBD and Vessel branded products in Poland.

PRODUCTS

JUSTCBD

JustCBD is an established CPG wellness brand with over 300 products and a seamless omni-channel approach that includes a direct-to-consumer business with over 300,000 customers and a network of over 14,000 distribution points across the United States and internationally. Flora acquired the brand in February of 2022.

JustCBD high quality CBD products are made from organically sourced USA-grown hemp. JustCBD carries a wide range of CBD items for sale, including everything from Gummies and oil to soothing creams and pet treats. It has more than 22,000 5-star reviews. Every CBD product is GMP certified, as well as third party laboratory tested to confirm buyers’ safety. For more information, visit www.justcbdstore.com.

This NASDAQ-traded small cap firm also has an established pipeline into the growing German market!

In fact, FLGC’s wholly owned subsidiaries have been active in Germany since 2017, obtained the FIRST medical cannabis license in the country and are also responsible for selling the first gram of medical cannabis in Germany.

With the largest population and the greatest purchasing power in Europe, Germany boasts Europe’s fastest growing cannabis market. With the following 2 phases of German legalization expected in the coming 12-18 months, Germany may become the largest federally legal adult use cannabis country!!

This bodes well for Flora Growth Corp. (NASDAQ: FLGC) who has acquired TruHC in an all-share deal valued at $6.4M. Majority control of TruHC was acquired in April of 2024.

Why is this a big deal?

Because there is a limited number of entities that can bring flower globally to supply the burgeoning German market.

“The acquisition of TruHC is expected to provide Flora with the runway it needs to maximize the benefits of Germany’s cannabis legislation. We intend to touch on many verticals in the medical and recreational cannabis realms in Germany. We anticipate becoming a leader and at the forefront of the industry, which has the potential to spread to the rest of Europe. Together, we are excited to assume pack leadership in a sector poised for explosive growth.”

Clifford Starke, Chief Executive Officer

TruHC

TruHC Pharma GmbH is a medical cannabis developer and distributor based in Hamburg, Germany that holds an EU-GDP certification as an importer, distributor and manufacturer of medical cannabis, and operates a production facility with a cutting-edge cannabis laboratory. The company also holds an EU-GMP license.

TruHC is expected to contribute the following to Flora:

• A GDP wholesale license and an EU-GMP processing and production license for medical cannabis. It also owns and operates an EU-GMP certified laboratory ready for instant cannabis analysis as required for the new Cannabis Social Clubs.
• The facility of TruHC is a flexible production space with EU-GMP certified modules that can be extended and customized for any production process from processing to extraction and enables a license extension for a future in country cultivation of medical cannabis and supply of cannabis dispensaries expected to be opened in 2025 during phase 3 of legalization. TruHC also holds a narcotic license with EU-GMP certified storage.
• TruHC’s licenses allow TruHC to apply for new medical cannabis and cultivation licenses and become an official cannabis test lab for upcoming cannabis social clubs. It also enables international import of seeds and flowers for future distribution.

Germany made history this year by becoming the largest country in the EU to legalize recreational cannabis!

On April 1, 2024, Germany legalized recreational cannabis with explosive growth.With approximately 230,000 medical cannabis patients prior to legalization, Germany continues to lead the way in European medical cannabis; only represents 0.28% of the population. Other countries, such as Australia, have up to Size of global cannabis market. Source: Prohibition Partners 2.3% of population (1.7 million patients) as medical cannabis patients.More than 40 countries have legalized cannabis fully or partially for medical and/or adult use, with the total global market over $100 billion, which Germany representing 10% of the total global market.Germany is the gateway to the European Union with the total market potential after legalization projected reach 100 million cannabis consumers, which is larger than the U.S.

The EU Market is Booming

• The cannabis market in Europe is forecasted to achieve $33 billion by 2030 according to BDS Analytics with Germany leading the pack.
• According to Prohibition Partners, the European medical cannabis market is expected to reach $3.5 billion by 2025.
• Germany represents half of Europe’s medical cannabis market, with 2023 sales of $427 million to over 230,000 patients.
• The medical market opportunity alone is expected to reach $3 billion in Germany and $45 billion within Europe over the longer-term.
• The German legal recreational market has the potential to reach $4.2 billion according to Forbes.

Countries such as Germany have taken steps to facilitate access to cannabis. Germany represents half of Europe’s medical cannabis market, with 2023 sales of $427 million to over 230,000 patients, and ongoing research and clinical trials for several marijuana-based medications are underway.

As the EU’s market for cannabis products continues to grow, Flora Growth Corp. (NASDAQ: FLGC) aims to further capitalize with Phatebo GmbH!

“An early focus on Germany, highlighted by 2017 medical sales and a late 2022 acquisition of FGH, has positioned Flora to capitalize on legislative changes (home cultivation began April 1). Flora intends to leverage Phatebo relationships (part of FGH) to move medical cannabis from third parties into Germany.” – ROTH MKM

Phatebo GmbH is a leading distributor of export pharmaceuticals and medical cannabis products to the burgeoning European Union. Phatebo GmbH accelerates Flora’s expansion in Europe’s largest medical cannabis market.

SEE THE STOCK CHART

Phatebo GmbH

Phatebo GmbH is a reliable partner in the healthcare industry. This dynamically developing pharmaceutical company is based in Hilzingen Germany, on the western shore of Lake Constance. Through its widespread and qualified supplier network, the company can offer its customers a wide range of branded Rx and OTC medicines, as well as medical devices, at attractive prices.

Flora is hopeful that a recent Frankfurt Stock Exchange listing will support FLGC’s trading liquidity and facilitate investment in Flora by European investors, .

As the global cannabis industry expands, it’s often the “pick and shovel” companies—those providing essential tools and services—that are most profitable, not necessarily the growers…

This highlights Flora Growth Corp. (NASDAQ: FLGC)’s vapes brand Vessel – the company’s fastest growing segment!

• In the second quarter of 2024, Vessel maintained a gross profit margin of 53% on sales of $1.4 million and over 60 new wholesale customers were added to the Vessel network in the quarter, including several Multi-State Operators.

Vessel

Vessel’s mission is to be the world’s leading producer of consumer technology and accessories. The company’s products are built better, designed smarter and inspire optimism and happiness.

The company’s goal is to make every experience more expressive and personal, and to deliver the best performance in our line. The collection is an honest display of Vessel’s attention to detail and craftsmanship that’s second to none.

Today, cannabis vaping is one of the most preferred methods of cannabis consumption, courtesy largely because of its convenience and effectiveness.

The global cannabis vaporizer market is anticipated to expand 3.5X its value from 2021 to 2031 according to FactMr.com. Legalization of cannabis in many countries and changes to regional policies are key to the growth.

Vessel is consistently rolling out innovative products and is quickly growing into a leading vaping company.

Flora Growth Corp. (NASDAQ: FLGC) has recently closed on its acquisition of Australian Vaporizers. This is a milestone in the company’s efforts to buy e-commerce engines and to use them to sell Vessel!

In August of 2024, FLGC closed on its acquisition of Australian Vaporizers. The acquisition has the potential to drive synergies with Flora’s existing portfolio of brands, including selling Vessel Brand products in Australia, which is Flora’s fastest growing segment.

Australian Vaporizers

Australian Vaporizers was founded in 2010 and has become one of the largest online retailers of vaporizers, hardware, and accessories in Australia. It is an online expert for aromatherapy products, specializing in dry herb vaporizers. It has been providing vapes, accessories and knowledge to enthusiasts and newcomers alike. Its websitewww.australianvaporizers.com.au is a popular designation in the country with a large database of satisfied customers. Australian Vaporizers sold over 92,000 units to over 30,000 active customers through business to business and direct to consumer channels.

One of the biggest disruptors to hit the beverage industry is THC-infused beverages and Flora Growth Corp. (NASDAQ: FLGC) is aiming to be at the forefront of this niche category!

Flora Growth Corp. (NASDAQ: FLGC) Has Formed a 50/50 Joint Venture to Establish Peak USA JV LLC. (“Peak USA”).

This Marks FLGC’s Strategic Entrance into the Growing Cannabis-infused Beverage Market!

Highlights

• Peak is a recognized market leader in cannabis-infused beverages and has a 40% market share in Canada.
• Peak powers the biggest brands in the world and has 8 years of industry-defining experience.

The goal is to produce the next generation of cannabis infused beverages for the U.S. market.

According to Headset Data, the beverage market segment currently represents only 1% to 3% of the U.S. cannabis market. First-time daily cannabis use overtook alcohol, with roughly 17.7 million users compared to 14.7 million for alcohol.

The partnership is strategically positioned to establish cannabis beverages distribution in the U.S. by via CPG channels like wine and liquor stores.

The joint venture will leverage the strengths and resources of both Peak and Flora to capitalize on current commercial opportunities in the beverage market in the U.S., driving mutual growth and success. Peak contributes production know-how, while Flora brings a wealth of brand launching, sales and marketing expertise within the dynamic landscape of lifestyle brands in the U.S.

In late November of 2023, Total Wine and More, the largest independent alcoholic beverage retailer in the country, became the first major liquor store in the US to sell drinks containing THC.
This proves further that THC-infused beverages are going mainstream!

The drinks are being marketed as an alternative to alcohol which explains why alcohol giants are climbing on board.

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Flora Growth Corp. Reports Second Quarter 2024 Financial Results

Fort Lauderdale, Florida–(Newsfile Corp. – August 12, 2024) – Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) (“Flora” or the “Company”) reported today its financial and operating results for the three and six months ended June 30, 2024.

“In the second quarter of 2024, we at Flora, demonstrated an aptitude to make accretive acquisitions and form strategic partnerships to capitalize on the most robust market trends. In Germany, we acquired TruHC Pharma GmbH in response to the de-scheduling of cannabis, the reforms surrounding cultivation for personal use, the establishment of cannabis social clubs, and the removal of cannabis from the list of prohibited substances in the Narcotics Act. In the United States, we entered a joint venture with Althea Group Holdings to capitalize on the rapid growth in the beverages market. In Australia, we acquired Australian Vaporizers to expand our e-commerce foothold and Vessel’s reach,” said Clifford Starke, Chief Executive Officer.

“Our operating expenses and cash flows used in operating activities have decreased notably across the board compared to the prior period. We ended the quarter with cash of $6.1 million and set the stage for a wide array of financing alternatives to further fuel our business plan,” added Mr. Starke.

“Finally, we commend the U.S. for moving to reschedule cannabis U.S. federal law. We believe it is the beginning of a wave of favorable legislative reforms with both major party presidential candidates expressing support,” concluded Mr. Starke.

TruHC Acquisition

Flora acquired TruHC in an all-share deal valued at $6.4 million based on the closing price of Flora on March 28, 2024, of $2.31 per share. The first closing occurred on April 22, 2024, in which 2,135,199 Flora shares were issued in exchange for 77% of TruHC. The second closing involving the issuance of 635,363 Flora shares for the remaining 23% of TruHC will occur upon shareholder approval. TruHC is expected to contribute the following to Flora:

• A GDP wholesale license and an EU-GMP processing and production license for medical cannabis. It also owns and operates an EU-GMP certified laboratory ready for instant cannabis analysis as required for the new Cannabis Social Clubs.
• The facility of TruHC is a flexible production space with EU-GMP certified modules that can be extended and customized for any production process from processing to extraction and enables a license extension for a future in country cultivation of medical cannabis and supply of cannabis dispensaries expected to be opened in 2025 during phase 3 of legalization. TruHC also holds a narcotic license with EU-GMP certified storage.
• TruHC’s licenses allow TruHC to apply for new medical cannabis and cultivation licenses and become an official cannabis test lab for upcoming cannabis social clubs. It also enables international import of seeds and flowers for future distribution.

Australian Vaporizers Acquisition

Flora acquired Australian Vaporizers in an all-share deal valued at $0.7 million based on the closing price of Flora’s common shares on June 3, 2024. The transaction closed on June 4, 2024.

• Australian Vaporizers was founded in 2010 and has become one of the largest online retailers of vaporizers, hardware, and accessories in Australia. It is an online expert for aromatherapy products, specializing in dry herb vaporizers.
• It has been providing vapes, accessories and knowledge to enthusiasts and newcomers alike through its website www.australianvaporizers.com.au.
• Australian Vaporizers sold over 92,000 units to over 30,000 active customers through business to business and direct to consumer channels. Australian Vaporizers has the potential to drive synergies with Flora’s existing portfolio of brands, including selling Vessel Brand products in Australia, which is Flora’s fastest growing segment.

Joint Venture with Althea Group Holdings

Flora and Althea Group Holdings (“Althea”) established Peak USA JV LLC (“Peak USA”) – a 50/50 joint venture aiming to capitalize on the beverages market in the United States.

• Peak USA will link Flora’s U.S. – based CPG team with Althea’s Peak Processing Solutions (“Peak”), which is a recognized market leader in cannabis-infused beverages. Peak has a 40% market share in Canada.
• Peak USA will combine Flora’s brand-launching expertise with Althea’s processing experience to produce the next generation of beverages for the U.S. market. Peak contributes production know-how, including its world-class emulsion technology, while Flora brings a wealth of brand launching, sales and marketing expertise within the dynamic landscape of lifestyle brands in the U.S.
• The partnership is strategically positioned to establish cannabis beverage distribution in the U.S. by adeptly handling regulations and facilitating market access via CPG channels like wine and liquor stores.
• According to Headset Data, the beverage market segment currently represents only 1% to 3% of the U.S. cannabis market. First-time daily cannabis use overtook alcohol, with roughly 17.7 million users compared to 14.7 million for alcohol.

Financing Activities

• The Company filed the required forms to initiative a Regulation A Offering at a maximum capacity of $75.0 million with Aegis Capital Corp. (“Aegis”) being the sole bookrunner on the Offering.
• The Company entered an At-The-Market (“ATM”) Issuances Sales Agreement with Aegis with aggregate offering price of up to $3.8 million. The Company has not yet sold any shares as part of the ATM.
• Flora closed an underwritten offering of 1.7 million common shares for aggregate gross proceeds of approximately $3.23 million, prior to deducting underwriting discounts and other offering expenses. The Company’s Chief Executive Officer, Clifford Starke, purchased shares in this offering.

Regulatory Developments

In April 2024, Germany embarked on a historic cannabis legalization.

• Adults over the age of 18 in Germany are allowed to possess up to 50 grams of cannabis for private consumption and grow up to three plants. Adults are allowed to join nonprofit social clubs with a maximum of 500 members. Individuals are allowed to buy up to 25 grams per day, or a maximum of 50 grams per month.
• With the largest population and the greatest purchasing power in Europe, Germanyboasts Europe’s fastest growing cannabis market. With the following 2 phases of German legalization expected in the coming 12-18 months, Germany is expected to become the largest federally legal adult use cannabis country.
• With approximately 230,000 medical cannabis patients, Germany continues to lead the way in European medical cannabis as well. Following Germany are Italy, the Netherlands, Poland, Denmark and the Czech Republic, with the total number of cannabis patients in Europe is estimated to be 500,000 in 2023, and growth of around 500% is expected over the next five years.

In May 2024, the U.S. announced that his administration was moving to reschedule cannabis under U.S. federal law.

• The Justice Department is expected to post its proposed rule to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act in the Federal Register.
• A 60-day public comment period is expected before the rule is potentially finalized. The White House announcement came shortly after reports emerged that the Drug Enforcement Administration was about to reclassify cannabis as a Schedule III drug.

New Product Launches and Partnerships

• Vessel unveiled the second-generation Compass Rise – the next evolution in functionality and elegance. Built for the discerning connoisseur, Compass Rise embodies sophistication while delivering what consumers have come to expect from Vessel’s products. From its sleek design, cutting-edge technology, and the ability to stay upright, every aspect of Compass Rise reflects Vessel’s dedication to meeting changing market trends. Compass Rise features a nearly indestructible metal frame, enhanced heat settings, and first-in-class ergonomics. Compass Rise is now available for purchase on the Vessel Brand website, through Multi-State Operators (“MSOs”) and select retailers nationwide.
• JustCBD introduced new products to its line of offerings – JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies and JustCBD+ Sleep Magnesium and Melatonin Raspberry Gummies. These innovative gummies are designed to support stress management and promote relaxation, as well as enhance sleep quality. The JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies are formulated with an optimal blend of Gaba and L-Theanine, renowned for their calming properties. These ingredients are combined to assist users in managing stress and attaining a state of relaxation. The mixed berry flavor enhances the experience, making stress relief both effective and amiable. Melatonin gummies are one of the Company’s best sellers.
• The Company entered partnerships for the distribution of Vessel Brands in the United Kingdom, and in Israel with Althea Group Holdings Limited and IM Cannabis Corp., respectively.
• Flora entered an exclusive distribution agreement with Me Raw Trade Ltd. to distribute both JustCBD and Vessel branded products in Poland.

Frankfurt Stock Exchange Listing

The Company’s common shares now trade on the Frankfurt Stock Exchange (“FSE”) under the symbol “7301”.

• The FSE is one of the world’s largest (behind only the Nasdaq and NYSE) organized exchange-trading market in terms of turnover and dealings with securities. The electronic trading platform of the FSE, XETRA, has made it the world’s second largest fully electronic cash market with direct linkage to all other major European financial hubs.
• This listing will help increase the Company’s trading liquidity and facilitate investment in Flora by European investors through the FSE listing as major financial hubs can be reached more easily.

U.S. Hemp Beverage Alliance

The Company has joined the U.S. Hemp Beverage Alliance.

• Beverages represent only a marginal component of the industry with tremendous potential for growth. According to Whitney Economics, the total demand for hemp-derived cannabinoids in the U.S. is valued at more than $28 billion with the total economic impact of the industry on the U.S. economy being more than $79 billion.
• Data Bridge Market Research estimates that the U.S. infused beverages market is expected to reach half a billion by 2030, with a CAGR of 14.7% during the forecast period.

Financial Highlights – Three Months Ended June 30, 2024

During the three months ended June 30, 2024, the Company reported:

• Net loss of $2.7 million compared to a net loss of $44.6 million in the comparable quarter, an improvement of 94% quarter-over-quarter.
• Cash used in operating activities of $0.3 million compared to cash used in operating activities of $3.5 million in the comparable quarter, an improvement of 91% quarter-over-quarter.
• Total operating expenses of $6.7 million, compared to $44.0 million in the comparable quarter.
• Adjusted EBITDA loss of $2.8 million compared to an Adjusted EBITDA loss of $3.9 millionin the comparable quarter.

JustCBD Highlights

• Loss from continuing operations of $1.4 million and Adjusted EBITDA loss of $1.3 million in the quarter.
• Maintained a gross profit margin of 34% on sales of $4.4 million. Just Internationalcontributed $0.2 million to sales across 11 countries.
• The top selling products in the quarter included the Bear, Nighttime Bear and Peach Gummies.
• Approximately 41% of revenues stemmed from our direct-to-consumer model, while approximately 59% was generated through business-to-business sales.
• Over 120 new wholesale customers were added to our network in the quarter.

Vessel Highlights

• Loss from continuing operations of $0.2 million and Adjusted EBITDA loss of $0.2 millionin the quarter.
• Maintained a gross profit margin of 53% on sales of $1.4 million.
• Core products represented 35% of sales and Compass products contributed 41% to sales; the largest individual item sold was Wood Slate/Walnut, adding 11% to sales.
• Approximately 59% of revenues stemmed from our direct-to-consumer model, while approximately 41% was generated through business-to-business sales.
• Finalized new product developments in the vaporizer and dry herb categories set to launch in the coming quarters.
• Over 60 new wholesale customers were added to our network in the quarter, including several Multi-State Operators.

Phatebo Highlights

• Income from continuing operations of $0.2 million and Adjusted EBITDA of $0.3 million in the quarter.
• Earned $9.6 million in revenue with gross margins of 8.4%.
• Branded pharmaceuticals were the largest contributors to sales, including medications from Merck, Vertex, Novartis, MSD, Novo Nordisk, AstraZeneca, Janssen, and Gilead Sciences.
• All sales were business-to-business sales.

Financial Highlights – Six Months Ended June 30, 2024

During the six months ended June 30, 2024, the Company reported:

• Net loss of $6.0 million compared to a net loss of $48.5 million in the comparable period, an improvement of 88% period over period.
• Cash used in operating activities of $1.6 million compared to cash used in operating activities of $7.8 million in the comparable period, an improvement of 79% period-over-period.
• Total operating expenses of $13.0 million, compared to $51.7 million in the comparable period.
• Adjusted EBITDA loss of $4.3 million compared to an Adjusted EBITDA loss of $4.7 millionin the comparable period.

JustCBD Highlights

• Loss from continuing operations of $1.3 million and Adjusted EBITDA loss of $1.2 million in the period.
• Maintained a gross profit margin of 43% on sales of $9.8 million. Just Internationalcontributed $0.4 million to sales across 11 countries.
• The top selling products in the quarter included the Nighttime Bear, Bear, Peach and CBD+ Calming Gummies.
• Approximately 37% of revenues stemmed from our direct-to-consumer model, while approximately 63% was generated through business-to-business sales.
• Over 260 new wholesale customers were added to our network in the period.

Vessel Highlights

• Loss from continuing operations of $1.3 million and Adjusted EBITDA loss of $0.4 millionin the period.
• Maintained a gross profit margin of 46% on sales of $2.7 million.
• Compass products represented 36% of sales and Core products contributed 31% to sales; the largest individual item sold was Core Black, adding 8% to sales.
• Approximately 56% of revenues stemmed from our direct-to-consumer model, while approximately 44% was generated through business-to-business sales.
• Finalized new product developments in the vaporizer and dry herb categories set to launch in the coming quarters.
• Over 95 new wholesale customers were added to our network in the period, including several Multi-State Operators.

Phatebo Highlights

• Close to breakeven on income from continuing operations and Adjusted EBITDA of $0.4 million in the period.
• Earned $18.8 million in revenue with gross margins of 6.8%.
• All sales were business-to-business sales.

EBITDA and Adjusted EBITDA are non-U.S. GAAP measures. A reconciliation of U.S. GAAP to non-U.S. GAAP financial measures has been provided in the section titled “About Non-GAAP Financial Measures”. Important disclosures regarding the use of non-U.S. GAAP supplemental financial measures are also included below.

Board Appointment

• The Company appointed Brendan Cahill as an independent director and member of each of the Company’s audit committee, compensation committee and nominating and corporate governance committee, effective May 2, 2024.
• Mr. Cahill was President and Chief Executive Officer of Excellon Resources Inc. from 2012 to 2022. Previously, he was Vice President Corporate Development and Corporate Secretary of the Pelangio group of companies. He is currently a Director of the Group Elevan Resourecs Corp. and former director of KORE Mining Ltd. And Cryptostar Corp. He is a member of the Transplant Cabinet at the University Health Network and a member of the Law Society of Ontario.

About Non-U.S. GAAP Measures

EBITDA and Adjusted EBITDA are non-U.S. GAAP financial measures that do not have any standardized meaning prescribed by U.S. GAAP and may not be comparable to similar measures presented by other companies. We calculate EBITDA as total net income (loss) from continuing operations, plus (minus) income taxes (recovery), plus (minus) interest expense (income), plus depreciation and amortization. We calculate Adjusted EBITDA as EBITDA plus (minus) non-operating expense (income), plus share based compensation expense, plus asset impairment charges, plus (minus) unrealized loss (gain) from changes in fair value, plus charges related to the flow-through of inventory step-up on business combinations, plus other acquisition and transaction costs. Management believes that EBITDA and Adjusted EBITDA provide meaningful and useful financial information as these measures demonstrate the operating performance of the business.

Management believes that this non-U.S. GAAP financial information is useful as a supplement to comparable U.S. GAAP financial information. Management reviews these non-U.S. GAAP financial measures on a regular basis and uses them, together with financial measures included in the Company’s financial statements, to evaluate and manage the performance of the Company’s operations. These measures should be evaluated in conjunction with the comparable U.S. GAAP financial numbers reported by the Company.

The reconciliation of the Company’s Adjusted EBITDA, a non-U.S. GAAP financial measure, to net (loss) income from continuing operations, the most directly comparable U.S. GAAP financial measure, for the six months ended June 30, 2024 and is presented in the table below:

About Flora Growth Corp.

Flora Growth Corp. is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.

https://justcbdstore.com/

https://www.vesselbrand.com/

https://www.phatebo.de/home-en

https://www.australianvaporizers.com.au/

https://www.phatebo.de/home-en

https://www.australianvaporizers.com.au/

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NEWS

Flora Growth Corp. is Encouraged by the Harris Campaign’s Hallmark Proposal for Recreational U.S. Federal Cannabis Legalization3 hours agoDr. Manfred Ziegler Joins Flora Growth Corp. as Managing Director, Bolstering German Business with Unmatched Expertise5 days agoFlora Growth Corp. Applauds Germany’s New Industrial Hemp Legislation, Plans to Leverage Expertise for Market Entry6 days agoFlora Growth Corp. Partners with Flowzz.com on E-Commerce StoreOct 8, 2024Flora Growth Corp. Expands Offering to Include Love Hemp Products on E-Commerce ChannelsOct 2, 2024Flora Growth Corp. Names Cannabis Connoisseur Captain Hooter as Special AdvisorOct 1, 2024Flora Growth Corp. Signs Exclusive Distribution Agreement with Nordic Tower AB for Vessel Products in Sweden and the Nordic RegionSep 26, 2024Flora Growth Corp. Applauds Senator Wyden for Introducing the Cannabinoid Safety and Regulations ActSep 25, 2024Flora Growth Corp. Participates in U.S. Hemp Roundtable Meetings to Advocate for Effective Legislation on Capitol HillSep 25, 2024Flora Growth Corfnounces Exclusive Distribution Agreement with Canapuff for Vessel Brand in the Czech RepublicSep 24, 2024Flora Growth Corp. Integrates Sezzle Financing Option for JustCBD and Vessel Purchases Across U.S. E-Commerce PlatformsSep 19, 2024Flora Growth Corp. Announces Supply Agreement with Blossom Genetics to Bring Colombian Medical Cannabis to GermanySep 18, 2024Clifford Starke, CEO of Flora Growth Corp., Appointed to HoshiCap Board of DirectorsSep 17, 2024Clifford Starke’s Holdings in Flora Growth Corp.Sep 12, 2024Flora Growth Corp. Appoints Harold Wolkin to Board of Directors; Clifford Starke Named ChairmanSep 12, 2024Flora Growth Corp. Unveils New Branding, Logo, Website in Exciting Design TransformationSep 10, 2024Flora Growth Announces Results of 2024 Annual and Special Meeting of ShareholdersAug 14, 2024Flora Growth Corp. Reports Second Quarter 2024 Financial ResultsAug 12, 2024Flora Growth Celebrates National CBD DayAug 8, 2024Flora Growth Announces Frankfurt Stock Exchange ListingAug 7, 2024Flora Growth Announces Launch of New Calm and Sleep GummiesAug 6, 2024Flora Growth Corp. Closes Acquisition of Australian VaporizersJun 5, 2024Lifeist Sells Australian VapesJun 5, 2024Vessel Brand Unveils the Second-Generation Compass Rise – The Next Evolution in Functionality and EleganceMay 30, 2024

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MANAGEMENT

SINCERELY,

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Acquisition target Evofem reported revenue of $7.8 million for the six months ended June 30, 2024

Acquisition target Appili has received approximately $6.0 million of the total $14.0 million to date in a non-dilutive funding commitment from Dept of Defense

ADTX has a diverse portfolio that not only increases the potential for revenue generation but also reduces risk by not relying solely on one product or service

READ THE INVESTOR PRESENTATION HERE

________________________

‍Hello Everyone,

We have something brand new for you to look at for Thursday’s session.

This is a company that we have never profiled before on this newsletter and are excited to put this one in front of you given some of the recent developments.

We want you to put ADTX on your radar right away.

Aditxt, Inc.® is an innovation platform dedicated to accelerating promising health innovations. Aditxt’s ecosystem of research institutions, industry partners, and shareholders collaboratively drives their mission to “Make Promising Innovations Possible Together.” The innovation platform is the cornerstone of Aditxt’s strategy, where multiple disciplines drive disruptive growth and address significant societal challenges. Aditxt operates a unique model that democratizes innovation, ensures every stakeholder’s voice is heard and valued, and empowers collective progress.

Aditxt currently operates two programs focused on immune health and precision health. The Company plans to introduce two additional programs dedicated to public health and women’s health.

For these, Aditxt has entered into an Arrangement Agreement with Appili Therapeutics, Inc. (“Appili”) (TSX: APLI; OTCPink: APLIF), which focuses on infectious diseases, and a Merger Agreement with Evofem Biosciences, Inc. (OTCQB: EVFM). Each program will be designed to function autonomously while collectively advancing Aditxt’s mission of discovering, developing, and deploying innovative health solutions to tackle some of the most urgent health challenges. The closing of each of the transactions with Appili and Evofem is subject to several conditions, including but not limited to approval of the transactions by the respective target shareholders and Aditxt raising sufficient capital to fund its obligations at closing. No assurance can be provided that all of the conditions to closing will be obtained or satisfied or that either of the transactions will ultimately close. The two acquisition targets, Evofem Biosciences, Inc. and Appili Therapeutics, Inc. have reported revenue of $7.8 million for the six months ended June 30, 2024. Additionally Appili has received approximately $6.0 million of the total $14.0 million to date in a non-dilutive funding commitment from the Department of Defense.

The company’s diverse innovation portfolio includes Adimune™, Inc., Adivir™, Inc., and Pearsanta™, Inc., which focus on retraining the immune system, treating infectious diseases, and offering high-quality lab testing, respectively. The diversity of the portfolio not only increases the potential for revenue generation but also reduces risk by not relying solely on one product or service.

Aditxt Delivers Shareholder Update and 2024 Year-End Plan

Acquisition target Evofem reported revenue of $7.8 million for the six months ended June 30, 2024

Acquisition target Appili has received approximately $6.0 million of the total $14.0 million to date in a non-dilutive funding commitment from DoD

Shelf registration statement and resale registration statement for Equity Line of Credit declared Effective by the SEC

Effected a 1-for-40 reverse split of its common stock, which was primarily intended to regain compliance with Nasdaq’s minimum bid price requirement

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)– Aditxt, Inc. (NASDAQ: ADTX) (“Aditxt” or the “Company”), an innovation platform dedicated to accelerating promising health innovations, today provided an update on its plans for 2024 year-end.

Business and Acquisitions

Aditxt’s two acquisition targets, Evofem Biosciences, Inc. (“Evofem”) (OTCQB: EVFM) and Appili Therapeutics, Inc. (“Appili”) (TSX: APLI; OTCPink: APLIF), have reported revenue of $7.8 million for the six months ended June 30, 2024. Appili has received approximately $6.0 million of the total $14.0 million to date in a non-dilutive funding commitment from the DoD. These funds, along with other potential funding sources, are anticipated to continue advancing the ATI-1701 program toward an Investigational New Drug (IND) submission to the U.S. Food and Drug Administration(FDA) in 2025.

Aditxt’s strategy is anchored in accelerating promising health innovations. With two subsidiaries in immune health and precision diagnostics already established, the proposed acquisitions of Evofem and Appili seek to further extend Aditxt’s presence into women’s health and public health, supporting its continued expansion.

The Company estimates it will require approximately $4 million in cash to fund its proposed acquisition of Evofem inclusive of the $1.8 million purchase of Common Shares, and Aditxt’s obligation to purchase an additional $2.28 million in Evofem Series F-1 Convertible Preferred Stock by October 31, 2024. In addition, the parties are expected to repay approximately $15.2 million to satisfy Evofem’s Senior Secured Note in conjunction with the closing. The Company also estimates it will require approximately $17 million in cash to fund its acquisition of Appili.

The closing of each of the transactions with Evofem and Appili is subject to several conditions, including but not limited to approval of the transactions by the respective target shareholders and Aditxt raising sufficient capital to fund its obligations prior to and at closing. No assurance can be provided that all of the conditions to closing will be obtained or satisfied or that either of the transactions will ultimately close.

Capital Access & Nasdaq Compliance

A key element of Aditxt’s strategy revolves around maintaining its Nasdaq listing and securing sufficient capital to fund its existing operations and obligations and supporting its planned strategic growth initiatives. In support of this objective, the Company has filed a shelf registration statement on Form S-3, which has been declared effective by the U.S. Securities and Exchange Commission (SEC). This shelf registration statement covers the sale of up to $100 million in securities. At the time of filing of the registration statement on Form S-3, the market value of the Company’s public float was below $75 million, the maximum amount that the Company could sell was limited to 1/3 of its public float, which was approximately $2 million at that time. Should the Company’s public stock price and / or the number of shares in its public float increase, the amount that the Company may sell off of the shelf may increase. The Company also filed a resale registration statement covering the shares issuable under the Company’s Equity Line of Credit (the “Equity Line”), which was declared effective by the SEC. This registration statement covers the sale of up to $150 million of common stock, the maximum amount issuable under the Company’s Equity Line. The actual amount of common stock that the Company may sell under the Equity Line is subject to several limitations (certain of which may be waived by the Equity Line investor), including but not limited to, the Company’s stock price being equal to or greater than $1.00 and certain daily volume limitations equal to the lower of 100,000 shares or $200,000 for fixed purchases under the Equity Line, or up to $2 million daily for certain other VWAP-based purchases. The Equity Line investor is also prohibited from purchases which would result in ownership by such investor in excess of 4.99% of the Company’s then outstanding common stock.

Capital Table and Balance Sheet

The Company is making concerted efforts to clean up its balance sheet and capitalization table. As of the date hereof, the Company also has approximately $19 million in accounts payable and accrued expenses and approximately $7.8 million is owed to secured creditors. In August 2024, the Company entered into a letter agreement with the holders of its senior notes and shares of the Company’s Series C-1 Convertible Preferred Stock, pursuant to which the Company agreed that it would apply 40% of the net proceeds from: (i) any sales of securities utilizing its currently effective Shelf Registration Statement, (ii) sales of its common stock under its Equity Line, or (iii) any public offering of securities to make payments on such notes. In addition, pursuant to the Letter Agreement, commencing on the date that the senior notes have been repaid in full, the Company shall ratably redeem all holders of the Company’s then outstanding Series C-1 Convertible Preferred Stock in the aggregate amount of approximately $10.9 million, in an amount equal to 40% of the net proceeds raised from any shelf takedowns, any sales of common stock under the Equity Line or any public offering. In addition to the foregoing, in connection with any shelf takedown or public offering, in the event that a Series C-1 holder participates in such shelf takedown or a public offering, the Company shall use 50% of the gross proceeds received in such Shelf Takedown or public offering from such Series C-1 holder to redeem such Series C-1 Holder’s shares of Series C-1 Convertible Preferred Stock.

In addition, the Company has approximately $1.0 million in senior notes with an original maturity date of August 2024, which was extended to September 30, 2024, and $1.5 million in senior notes with a maturity date of October 7, 2024. The Company does not presently have sufficient capital to meet such obligations in full, nor can it provide any assurance that it will successfully raise such capital from its shelf registration statement, Equity Line, or otherwise to satisfy such obligations or meet its current operational needs.

“The closing of the two target acquisitions, maintaining our Nasdaq listing and accessing strategic capital, and reduction of debt and accounts payable, are key to our future plans,” said Amro Albanna, Chairman, Co-Founder, and CEO of Aditxt. “We understand the many challenges that lie ahead but believe that through our current efforts Aditxt will be well-positioned to meet transformational milestones in 2025 that will deliver value to our shareholders and stakeholders.”

Aditxt’s recently signed a definitive agreement to acquire @Evofem in a $100M transaction.

We’re thrilled to re-share their news that Phexxi, a hormone-free contraceptive, is now available on Washington Medicaid plans without Prior Authorization.

This change affects 1.8… pic.twitter.com/JKD3n01ROH

— Aditxt, Inc. (@aditxt) January 9, 2024

Aditxt Announces Third Amendment to Arrangement Agreement with Appili Therapeutics

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)– Aditxt, Inc. (“Aditxt” or “the Company”) (NASDAQ: ADTX), an innovation platform dedicated to discovering, developing, and deploying promising health innovations, today announced that it had entered into a third amending agreement with Appili Therapeutics, Inc. (TSX: APLI; OTCPink: APLIF) (“Appili”), a biopharmaceutical company focused on developing innovative treatments and vaccines to combat some of the most challenging infectious diseases and potential bioterrorism threats.

Under the terms of the Arrangement Agreement announced on April 2, 2024, Aditxt, through its wholly-owned subsidiary Adivir, Inc., agreed to acquire all outstanding Class A common shares of Appili. Under the third amending agreement, the Arrangement Agreement was amended to, inter alia: (i) change the Outside Date (as defined in the Arrangement Agreement) from September 30, 2024 to November 19, 2024; (ii) require Appili to convene an annual and special shareholder’s meeting of Appili to consider, among other things, the Continuance (as defined below) as promptly as practicable; (iii) change the deadline to convene a special shareholders’ meeting to consider the Transaction from September 30, 2024 to November 6, 2024; (iv) change the deadline for Aditxt to complete the Financing (as defined in the Arrangement Agreement) from September 15, 2024 to October 18, 2024; and (v) have the completion of the Continuance as a condition to the completion of the Arrangement.

The transaction is conditional upon Aditxt raising at least US$20 million in financing before closing. In addition, completion of the transaction is subject to other customary conditions, including the receipt of all necessary court, regulatory, and stock exchange approvals. No assurance can be given that all of the conditions to closing will be obtained or satisfied or that the transaction will ultimately close.

Evofem Biosciences Announces Financial Results for the Second Quarter of 2024

— Improved loss from operations by 81% —

— Acquired SOLOSEC, a commercially attractive, single-dose oral antibiotic FDA-approved to treat two pervasive sexual health infections —

— Forged ex-U.S. commercial agreement for Phexxi in Middle East —

SAN DIEGO, Aug. 14, 2024 /PRNewswire/ — Women’s health innovator Evofem Biosciences, Inc. (“Evofem” or “the Company”) (OTCQB: EVFM) today announced financial results for the second quarter and first half of 2024. Highlights include:

• Acquired global rights to SOLOSEC® (secnidazole) 2g oral granules, a single-dose oral antibiotic FDA approved to treat two common sexual health infections – bacterial vaginosis and trichomoniasis.
• Licensed Phexxi® (lactic acid, citric acid and potassium bitartrate) commercial rights in the Middle East to Emirati pharmaceutical company Pharma 1 Drug Store.
• Partnered with leading telemedicine company Hello Alpha to add Phexxi to its commercial offering as a hormone-free contraception solution for women, especially those on GLP-1s and others looking for hormone-free birth control.
• Negotiated a 7.4% lower rebate on Phexxi prescriptions to Medi-Cal, the California state Medicaid program service covering more than 15.4 million lives.
• Launched a partnership with Modern Remedies, one of the top pharmacies in the Northeast, to dispense Phexxi.
• Strengthened intellectual property with the issuance and Orange Book listing of the fifth U.S. patent covering Phexxi.
• Delivered net sales of $4.2 million for the second quarter of 2024, an increase of 69% compared to the prior year quarter.
• Reduced total operating expenses to $5.5 million, a 43% decrease compared to the prior year quarter.
• Improved loss from operations 81% versus the prior year quarter to $1.4 million.
• Received $2.0 million from Aditxt, Inc. (Nasdaq: ADTX), including $1.0 million in May 2024 to reinstate the Merger Agreement and $1.0 million from the sale of preferred stock to Aditxt in July and August 2024. Under the recently amended and restated Merger Agreement, the companies are working to close the contemplated transaction in late 2024.

“Evofem continues to prove that with a disciplined and committed team we can maneuver through challenges in the market and successfully execute our strategy to expand and diversify our revenue stream. In addition to delivering strong second quarter results, we closed two transformative business development deals that will improve access to differentiated treatment options that impact women’s daily lives,” said Saundra Pelletier, CEO of Evofem Biosciences. “Women don’t need more choices; they need better ones, and Evofem will continue to deliver on that promise.”

Financial Results

For the three months ended June 30, 2024, net product sales were $4.2 million compared to $2.5 million in the prior year period. The 69% increase primarily reflects an atypically high volume of product returns in the prior year quarter, which was not repeated in the current period.  An 8% increase in Phexxi ex-factory unit sales in the current period also contributed to the year-over-year growth.

Total operating expenses were $5.5 million, a decrease of 43% compared to the prior year period.

• Selling and marketing costs were essentially unchanged at $2.2 million for the second quarter of each year.
• General and administrative costs were $2.3 million, a decrease of 54% compared to the prior year quarter.
• Research and development costs were $0.3 million, a decrease of 33% compared to the prior year quarter.
• Cost of goods sold (COGS) were $0.8 million, a 66% decrease compared to the prior year period primarily due to two items that resulted in atypically high COGS in the second quarter of 2023: i) a recorded increase in the inventory excess and obsolescence reserve, and ii) the effect of re-packaging to reflect the extended shelf life approved by the FDA in June 2022.

As a result, operating loss improved to $1.4 million for the second quarter of 2024 as compared to an operating loss of $7.3 million in the second quarter of 2023.

Net income attributable to common stockholders was $1.3 million, or $0.02 per share, for the three months ended June 30, 2024, due to a gain in other income/expense related primarily to the fair value adjustment of the financial instruments. This compares to a net loss attributable to common shareholders of $8.6 million, or $(5.43) per share, for the prior year quarter.

Liquidity In May 2024, we received $1.0 million from Aditxt in consideration for reinstating and amending the Merger Agreement, as amended, between the companies (A&R Merger Agreement).

At June 30, 2024, Evofem had $0.7 million of restricted cash, as compared to $0.6 million of restricted cash at December 31, 2023.

In July and August 2024, we raised $1.0 million in aggregate net proceeds through the sale and issuance of 1,000 shares of Series F-1 Convertible Preferred Stock to Aditxt pursuant to the A&R Merger Agreement.

About Evofem Biosciences

‍Evofem Biosciences, Inc., is commercializing innovative products to address unmet needs in women’s sexual and reproductive health. The Company’s first FDA-approved product, Phexxi® (lactic acid, citric acid and potassium bitartrate), is a hormone-free, on-demand prescription contraceptive vaginal gel. It comes in a box of 12 pre-filled applicators and is applied 0-60 minutes before each act of sex.

In July 2024 Evofem broadened its commercial offering with the acquisition of SOLOSEC® (secnidazole) 2g oral granules, an FDA-approved oral antibiotic for the treatment of two sexual health diseases: bacterial vaginosis (BV), a common vaginal infection, in females 12 years of age and older, and trichomoniasis, a common sexually transmitted infection (STI), in people 12 years of age and older. SOLOSEC provides a complete course of therapy in just one dose.

In December 2023, Evofem entered into a Merger Agreement with Aditxt, Inc. (Nasdaq: ADTX) under which Aditxt intends to acquire Evofem. The parties amended and restated the Merger Agreement, as amended, in its entirety in July 2024 and are targeting to close in late 2024.

NEWS

Aditxt To Host Stakeholder Update and Q&A Session on Friday, October 11, 2024, at 11:30 AM Eastern Daylight Time4 hours agoAditxt Completes Third Parent Equity Investment Under Amended and Restated Merger Agreement With Evofem1 day agoAditxt Delivers Shareholder Update and 2024 Year-End Plan6 days agoAditxt, Inc. (NASDAQ: ADTX) Announces 1-for-40 Reverse Stock Split Effective at the Open of Trading on October 2, 2024Sep 27, 2024Evofem Biosciences Files Preliminary Proxy for Stockholder Approval of the Acquisition by AditxtSep 24, 2024Aditxt’s Subsidiary Pearsanta to Collaborate with Evofem Biosciences for Targeted U.S. Launch of Endometriosis Diagnostic in Mid-2025Sep 20, 2024Aditxt and Evofem Sign Second Amendment to Amended and Restated Merger Agreement, Target Closing of Acquisition in Fourth Quarter of 2024Sep 9, 2024Aditxt Subsidiary Pearsanta Submits a Grant Application Seeking to Advance Clinical Trials for Mitomic® Prostate Test, Targeting Early Detection in High-Risk PatientsSep 4, 2024Aditxt to Present at the H.C. Wainwright 26th Annual Global Investment Conference September 9th-11th, 2024Aug 29, 2024Aditxt’s Precision Health Subsidiary, Pearsanta, Appoints Christopher Mitton as President as it Seeks to Complete Clinical Validation Studies for its Mitomic® Endometriosis Test (MET™) and Mitomic® Prostate Test (MPT™)Aug 26, 2024Aditxt Announces Third Amendment to Arrangement Agreement with Appili TherapeuticsAug 21, 2024Evofem Biosciences Addresses the Impact of GLP-1 Medications on Oral Contraceptive Absorption and Introduces Phexxi as a Non-Oral SolutionAug 20, 2024Evofem Biosciences Announces Financial Results for the Second Quarter of 2024Aug 14, 2024Aditxt Announces the Successful Passage of all Proposals at Recent Annual Shareholders’ Meeting, Setting the Stage for 2024 and 2025 Strategic PlansAug 13, 2024Aditxt Announces $1.2 Million Registered Direct Offering Priced At-The-Market under Nasdaq RulesAug 9, 2024Aditxt Subsidiary Pearsanta Seeks Clinical Trial Translational Endpoints Research Award for Early Detection of Ovarian CancerAug 7, 2024Aditxt Signs Second Amendment to the Arrangement Agreement with Appili Therapeutics, Targeting September 30 Closing of the AcquisitionJul 25, 2024Evofem Signs Phexxi® License Agreement for Middle East with Pharma 1Jul 23, 2024Aditxt and Evofem Amend and Restate Merger Agreement, Targeting September 30 ClosingJul 17, 2024Hello Alpha Partners with Evofem to Offer Phexxi® as a Hormone-Free Contraception Solution on its Platform for Women’s HealthcareJun 27, 2024

‍

MANAGEMENT TEAM

Amro Albanna

Co-founder and Chief Executive Officer

Founded eight startups to commercialize innovations in various industries including enterprise software, research incubation, GPS & wireless, nano sensors, consumer health and biotech. Led multiple M&A and going-public transactions as a founder, co-founder and/or senior executive.

Shahrokh Shabahang, MS, PhD

Co-founder, Chief Innovation Officer, Board Member

20+ years of experience commercializing life science technologies focused on product and clinical development in the fields of microbiology and immunology.

Corinne Pankovcin, CPA, MBA

Chief Commercialization Officer

Served as Chief Financial Officer for several world class organizations including; Business Development Corporation of America (“BDCA”), BlackRock Kelso Capital (NASDAQ BKCC) and AIG Capital Partners. Responsible for executing portfolio investments and managing significant M&A transactions throughout her career.

Thomas J. Farley, CPA

Chief Financial Officer

From December 2015 to June 2020, Mr. Farley was the Controller and Treasurer of Business Development Corporation of America (“BDCA”), a publicly listed business development company. Prior thereto, from January 2011 to August 2015, Mr. Farley was the Senior Controller of Blackrock Capital Investment Corporation (NASDAQ: BKCC). Prior to joining BlackRock Capital Investment Corporation, Mr. Farley was a Senior Controller for PineBridge Investments Emerging Markets practice. Mr. Farley was also an Accounting Manager for Bessemer Venture Partners prior to his tenue at PineBridge. Mr. Farley began his career with PricewaterhouseCoopers LLP, from 1996 to 2001. Mr. Farley earned his B.S. in Accounting from Long Island University and is a Certified Public Accountant.

Jennifer Lee

Director, Human Resources

Jennifer has over twenty years human resources experience in public and private companies with over eight years in diagnostic laboratories. Jennifer’s employee relations expertise coupled with her knowledge of state and federal employment laws allow her to mitigate risk while building an HR infrastructure through technology, compliance, and most importantly people.

SINCERELY,

DISCLAIMER

THIS WEBSITE/NEWSLETTER IS OWNED SUBSIDIARY BY DEDICATED INVESTORS, LLC.

OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF SEVEN THOUSAND FIVE HUNDRED USD BY INTERACTIVE OFFERS LLC FOR A ONE DAY ADTX AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. 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22nd Century Announces New Branded Products Order with Customer for Southeast Asia

VLN® is available in over 5,000 stores across 26 states

22nd Century Continues CMO Business Expansion with Additional Filtered Cigar Volume

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________________________

‍Hello Everyone,

We have another company that we looked at not too long ago that is back front and center for tomorrow’s session.

This one has the potential to bounce from its current levels if circumstances dictate.

4 times last month we say it close above 10% for the day and twice it closed up over 20%.

The volatility that traders often like to see has certainly been present in this one as of late.

Pull up XXII immediately.

A smoke-free future is within reach. Join 22nd Century Group's mission and read our inaugural blog post to learn about our goal to sell the last cigarette before the 22nd century.$XXII https://t.co/jHHSlfvRgR

— 22nd Century Group, Inc. (@_xxiicentury) August 4, 2023

2nd Century Group, Inc. (Nasdaq: XXII) is a next-generation plant biotechnology company, focused on improving human health through plant science. Using their breakthrough, patent-protected IP to control nicotine biosynthesis in the tobacco plant, they have developed the first market-ready, reduced nicotine content (RNC) tobacco plants and cigarettes containing 95% less nicotine. They received the first and only FDA MRTP authorization for a combustible cigarette in December 2021. The sole function of their cigarettes is to make it easier to reduce the number of cigarettes smoked.

In tobacco, 22nd Century employs a unique and innovative platform of modern plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding, to deliver healthier solutions for pressing issues. They create new, proprietary plants with select alkaloid, terpenoid, and flavonoid profiles, improved yields, and valuable agronomic traits for the life science and consumer products industries.

Rather than fight that trend, they’ve done something better by developing a product line that gives choices back to the consumer and, at the same time, pioneers a movement that is reshaping the tobacco industry. XXII isn’t saying that all of a sudden, nicotine is good. Far from it. But they are serving up a product option, its innovative VLN® (Very Low Nicotine) cigarettes, that can do more than appease those wanting nicotine- they’re developing a whole new category that could also serve investor appetites craving innovative and revolutionary growth stock companies.

Its innovative VLN® cigarettes empower smokers to reduce nicotine consumption without sacrificing the smoking experience they know. That difference is a competitive advantage. And it’s not just another nicotine delivery system; it’s giving smokers the ability to make informed decisions about their nicotine intake. The value driver in its mission to create market and shareholder value is the FDA-approved VLN® cigarette, which contains 95% less nicotine than traditional cigarettes.

Currently, VLN® is available in over 5,000 stores across 26 states, but that could be just the start.

22nd Century has announced ambitious plans to extend distribution to over 270,000 retail outlets nationwide. And no stopping there. International expansion is also on its agenda, with established partnerships in markets like South Korea, that where the demand for harm-reduction products is growing. And the infrastructure for growth is in place. XXII’s supply chain includes a stockpile of low-nicotine tobacco ready to meet demand and has the additional capacity to manufacture up to 1.4 million cartons of VLN® cigarettes—enough to generate up to $85 million in revenue. In other words, XXII isn’t just poised for success; they have the infrastructure in place to meet the increasing consumer demand for their products.

22nd Century Continues CMO Business Expansion with Additional Filtered Cigar Volume

CMO customer adds to previously announced cigarette export business with combined volume significantly adding to profitability

Mocksville, North Carolina–(Newsfile Corp. – September 25, 2024) – 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have a choice about their nicotine consumption, today announced a commitment from an existing customer to also supply their filtered cigar products.

As part of this customer relationship, 22nd Century Group will assume production of all the customer’s filtered cigar products using an in-house predicate blend. Initial shipments are expected in the fourth quarter of 2024, with volumes anticipated to be 200,000 cartons or more on an annual basis.

In a deal announced earlier this year, 22nd Century also entered into an agreement with the same customer for its export conventional cigarette products business. That deal, which is expected to add 20% to the overall contract manufacturing business volumes, is now beginning to more steadily ramp up production and expected to increase volumes steadily through the rest of 2024, and significantly in 2025.

“The combination of this added CMO business is expected to significantly bolster production volume to our CMO business as we work to fully utilize our manufacturing capacity under profitable new business,” said Larry Firestone, Chairman and CEO. “Additionally, high volume export contracts such as this agreement is working capital efficient for the Company, an important benefit to cash flows as we continue to work toward our goal of cash positive operations in the first quarter of 2025.”

About 22nd Century Group, Inc.

22nd Century Group is the pioneering nicotine harm reduction company in the tobacco industry enabling smokers to take control of their nicotine consumption.

We created our flagship product, the VLN® cigarette, to give traditional cigarette smokers an authentic and familiar alternative that helps them smoke less. VLN® is the world’s first and only combustible cigarette to receive a Modified Risk Tobacco Product designation from the FDA, which the FDA has mandated to be described as a product that Helps You Smoke Less®. VLN® cigarettes have 95% less nicotine than the traditional cigarette and have been proven to greatly reduce nicotine consumption. Instead of offering new ways of delivering nicotine to addicted smokers, we offer smokers the option to take control of their nicotine consumption and make informed and more productive choices, including the choice to avoid addictive levels of nicotine altogether.

Our wholly owned subsidiaries include a leading cigarette manufacturer that produces all VLN® products and provides turnkey contract manufacturing for other tobacco brands both domestically and internationally. The 60,000 square foot facility in Mocksville, North Carolinahas the capacity to produce more than 45 million cartons of combusted tobacco products annually with additional space for expansion.

Our proprietary reduced nicotine tobacco blends are made possible by comprehensive and patented technologies that regulate nicotine biosynthesis activities in the tobacco plant, resulting in full flavor and high yield with 95% less nicotine. Our extensive patent portfolio has been developed to ensure we have the only low nicotine combustible cigarette in the United States and critical international markets. Our mission is to sell the last cigarette before the 22nd Century.

22nd Century Announces New Branded Products Order with Customer for Southeast Asia

New Customer for 22nd Century’s Internally Owned Moonlight Brand Could Increase Factory Volumes by More Than 30% When Fully Scaled, Improve Gross Profit Profile

Mocksville, North Carolina–(Newsfile Corp. – September 23, 2024) – 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have a choice about their nicotine consumption, today announced a new customer agreement to supply its Moonlight branded cigarettes to the Southeast Asia marketplace. The first shipment is expected in the fourth quarter of 2024, with the opportunity to significantly expand volumes as the customer launches in key markets throughout 2025.

“This new customer represents an exciting opportunity to deploy one of our underutilized in-house brand assets to drive new growth opportunities, expanding our presence in a market with a widespread smoking culture in Southeast Asia,” said Larry Firestone, Chairman and CEO. “At scale, we believe this contract represents an opportunity to grow our manufacturing volumes by more than 30% over the next 15 months.”

“We have additional brands and assets that we can deploy into these or other markets in the U.S. and around the world,” added Firestone. “We are currently discussing similar opportunities with customers interested in deploying those brands and predicates, as well as customers interested in offering a reduced nicotine content product under their own branding, helping us to build a new category around our innovative VLN® products.”

22nd Century owns a number of brands which among others include Pinnacle, Moonlight, Magic and Ranger, in addition to its VLN® 95% reduced nicotine content branded cigarettes, the only combustible cigarette authorized by the U.S. Food and Drug Administration specifically designed to reduce smoking rates. The Company recently announced the launch of its VLN® branded products into the South Korean market, and expansion strategy in the U.S., which is expected to include flanker brands for additional reduced nicotine content products intended to help adult smokers to smoke less.

22nd Century Updates Strategic Growth Initiatives for VLN

PUBLISHED

SEP 11, 2024 7:55AM EDT

Low nicotine tobacco stock on hand can supply up to $85.0 million worth ofVLN® revenue and positive cash flow

Plans announced for VLN® targeted distribution and expansion to reach over 270,000 retail outlets, expanded international activity, and flankerVLN® brands with existing CMO private label customers

Mocksville, North Carolina–(Newsfile Corp. – September 11, 2024) – 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have a choice about their nicotine consumption, today announced plans to expand distribution of its VLN® 95% reduced nicotine content smoking products.

Based on recent consumer point-of-sale data on VLN® sales, the Company is now moving to expand its sales and marketing operations to all available retail outlets in the US as well as growing its distributions worldwide. The Company’s VLN® brand currently has a distribution of approximately 5,100 stores across 26 states, with a total available market of more than 270,000 retail outlets nationwide.

“Smokers are continuing to buy VLN® cigarettes, with greater sales than previously understood in many of the pilot locations established in 2023,” said Larry Firestone, Chairman and CEO. “Our low nicotine message is being heard, and our newly hired sales and marketing team has formulated a comprehensive revitalization plan that we believe will activate VLN® in the market. We will incorporate consumer engagement strategies based on what we learned in the original launch and expand our distribution to help place VLN® within the reach of more smokers looking to take control of their nicotine consumption.”

The Company’s global distribution plans include sales of VLN® products internationally through partners handling all distribution, sales and marketing efforts, using the model of its renewed distribution agreement with a South Korean partner previously announced. In addition, the Company plans to launch flanker brands based on its proprietary 95% less nicotine tobacco through existing CMO private label relationships, both domestically and internationally, to build a harm reduction category and drive awareness of how reduced nicotine content cigarettes can help smokers to smoke less.

“To meet increased demand, we are poised to benefit from an immense financial advantage in the form of our raw material inventory,” added Firestone. “In addition to finished goods on hand, we have sufficient fully paid-for low nicotine tobacco stock for the manufacture of up to 1.4 million cartons of VLN® and flanker brand cigarettes. Monetizing these assets, together with our planned flanker brand initiatives, gives us the potential to realize up to $85 million in VLN® revenue alone and positive cash flow before future tobacco crops even need to be harvested and processed. Moving this existing inventory to the market is our number one priority and our team is laser focused on this objective.”

22nd Century Group Reports Second Quarter 2024 Financial Results

PUBLISHED

AUG 13, 2024 6:00AM EDT

Path to Cash Positive Operations in Q1 2025; Continued Fiscal Discipline with 2Q24 Financial Results; Reduced Net Debt by ~$6.3 Million Year-to-Date

Mocksville, North Carolina–(Newsfile Corp. – August 13, 2024) – 22nd Century Group, Inc. (NASDAQ: XXII) today announced results for the second quarter ended June 30, 2024, and provided an update on recent business highlights.

Second Quarter 2024 Financial Results (compared to First Quarter 2024, except as noted)

All figures reported below reflect continuing operations, excluding discontinued operations related to the sale and exit of the Company’s hemp/cannabis franchise in late 2023.

• Net revenues increased sequentially by 22.8% to $7.9 million, compared to $6.5 million.
• Gross profit was $0.6 million, compared to $(1.1) million.
• Operating loss declined 53.8% to $2.0 million, compared to $4.4 million.
• Net loss decreased 61.4% to $2.2 million, compared to $5.5 million.
• Basic and diluted EPS improved to $(0.30), compared to $($1.72).
• Adjusted EBITDA declined to a loss of $2.6 million, from a loss of $3.5 million.

“The second quarter financial results demonstrate our ongoing progress in the rapid transformation of 22nd Century’s operations, including improved revenues based on many new CMO opportunities, positive gross profit, and significantly reduced operating expenses for our Company,” said Larry Firestone, Chairman and CEO. “Our revenue growth from new contract volumes we have secured will continue to ramp in the latter half of fiscal 2024 as we work to achieve cash positive operations by the first quarter of 2025. Additionally, our emphasis on debt reduction and improvements to the balance sheet have allowed us to focus our cash resources on operating the business.”

Second Quarter 2024 – Discussion of Product Line Net Revenues

• Cigarette net revenues, including export volume, increased to $4.1 million or 8% compared to $3.8 million in the prior year comparable period on neutral volume increases. Q2 2024 cigarette sales benefitted from strong summer seasonal demand with key customers, price increases that took effect in April 2024 and a one-time Spectrum® research cigarette order which provided a $0.9 million boost.
• Filtered cigars net revenues decreased to $3.3 million, compared to $3.9 million in the prior year comparable period, reflecting lower volumes as the Company continues to transition away from low or negative margin manufacturing agreements, in favor of higher margin cigarette manufacturing agreements. Additionally, price increases for certain customers took effect in April 2024.
• Cigarillo distribution net revenues amounted to $0.6 million, reflective of the expanded Pinnacle branded product offerings launched in Q2 2024 with a top-five national convenience store chain.
• VLN® cigarette net revenues were negligible in the second quarter, a decrease from the comparable prior year period which benefited from stocking orders with major c-stores. While the Company has secured broad distribution of its VLN® products, the sell-through has not yet materialized. The Company is making changes to rebrand and relaunch its VLN® products, which will be discussed further on the conference call noted below.

NEWS

22nd Century Continues CMO Business Expansion with Additional Filtered Cigar VolumeSep 25, 202422nd Century Announces New Branded Products Order with Customer for Southeast AsiaSep 23, 202422nd Century Updates Strategic Growth Initiatives for VLNSep 11, 202422nd Century Satisfies IP Licensing and Sponsored Research Obligations to NCSU Through 2025 in an Equity TransactionSep 9, 202422nd Century Group to Participate in the HC Wainwright Conference on September 10, 2024Sep 6, 202422nd Century Raises $1.68 Million in Regulation A Offering, Amends Senior Secured Credit FacilityAug 28, 202422nd Century Group to Participate in the Emerging Growth Virtual Conference on August 21, 2024Aug 20, 202422nd Century Group Reports Second Quarter 2024 Financial ResultsAug 13, 202422nd Century Group to Announce Second Quarter 2024 Results on August 13, 2024Aug 6, 202422nd Century Appoints Robert Manfredonia as Executive Vice President of Sales and MarketingJul 30, 202422nd Century Announces New Greenbutts Manufacturing Agreement for Innovative Plant-Based, Biodegradable Cigarette FiltersJul 10, 202422nd Century to Re-Launch and Expand VLN(R) Presence in South KoreaJul 9, 202422nd Century Group to Participate in the Emerging Growth Virtual Conference on July 17, 2024Jul 8, 202422nd Century Reduces Debt by Additional $1.5 Million via Payment from GVBJun 25, 202422nd Century Announces Resignation of John Miller as President of TobaccoMay 30, 202422nd Century Group Reports First Quarter 2024 Financial ResultsMay 15, 202422nd Century Eliminates an Additional $2.3 Million of DebtMay 13, 202422nd Century Group to Participate in the Aegis Capital Virtual Conference on May 9, 2024May 8, 202422nd Century Group (XXII) to Announce First Quarter 2024 Results on May 15, 2024May 7, 202422nd Century Eliminates $5.2 Million of Debt in Above-Market Equity TransactionApr 30, 2024Keynotes, Educational Panels and 96 Companies to Present at the Planet MicroCap Showcase: VEGAS on April 30 – May 2, 2024 at the Paris Hotel & Casino in Las Vegas, NVApr 29, 2024

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MANAGEMENT TEAM

Larry Firestone

Chief Executive Officer

Mr. Firestone brings over 40 years of enterprise, operations, and financial management experience in both public and private companies, including tenures as CEO, CFO and COO across multiple industry sectors. Mr. Firestone most recently served as Chief Financial Officer of Oakland Manager, a privately-held purveyor of cannabis with both retail and wholesale market penetration, and as Chairman of FirePower Technology, a privately held manufacturer of ATX power supplies for the IT and instrumentation markets. In the public company sector, Mr. Firestone has served as Chief Executive Officer of Eastside Distilling, Inc. (NASDAQ: EAST), Chief Executive Officer of Qualstar Corporation (NASDAQ: QBAK), Chief Financial Officer of Advanced Energy Industries (NASDAQ: AEIS), and Chief Financial Officer of Applied Films Corporation (NASDAQ: AFCO). He has served on numerous boards, including those of Eastside Distilling, Qualstar, CVD Equipment Corporation (NASDAQ: CVD), Amtech Systems, Inc. (NASDAQ: ASYS) and HyperSpace Communications, Inc. (NYSE: HYPR). Mr. Firestone received his Bachelor of Science in Business Administration with a concentration in Accounting from Slippery Rock University of Pennsylvania.

Robert Manfredonia

Executive Vice President of Sales and Marketing

Mr. Manfredonia brings 30 years of experience in regulated consumer products sales and marketing experience in the adult beverage space both wholesaler and direct brands across the spirits, wine and beer categories. His experience brings a deep knowledge and comprehensive capabilities to expedite distribution, accelerate volume growth and build brand enterprise value. Along with large entities, he has developed start-up brands with channel segment strategic planning and development, tactical coordination and implementation, account programming, shelf standards and retail execution disciplines, with a particular interest in corporate retail channel development for new to market, early stage and mid-sized brands. He previously served as Senior Vice President of Retail Corporate Accounts for Bonavita Beverage Group since 2019, and in the same role at Eastside Distilling from 2015-2019. Prior to entering the beverage business with Miller Brewing Company in 1999, he was a chain manager at Southern Glazer’s Wine and Spirits and proudly served in the United States Air Force.

Scott Marion

Vice President of Operations

Scott joined 22nd Century Group in February 2023 as the VP of Operations. Prior to joining 22nd Century Group Scott was the head Manufacturing and Supply Chain Finance at Reynolds American – the United States 2nd largest tobacco company. Scott has over twenty years’ experience in the tobacco industry where he has held various management roles in finance working closely with manufacturing operations. Scott brings a unique blend of manufacturing and supply chain leadership grounded in lean manufacturing coupled with an understanding of the financial metrics driving the organization. He holds a Bachelor of Science Degree in Business Administration from High Point University and an MBA from Wake Forest University.

Dan Otto

Chief Financial Officer

Daniel Otto was appointed our Chief Financial Officer in April 2024. He previously served as the Company’s Corporate Controller since July 2022 where he was responsible for accounting, SEC external reporting, treasury, tax and other finance management functions. Prior to joining the Company, Mr. Otto served as a Senior Manager at Deloitte & Touche LLP providing audit and accounting advisory services to public companies, ranging from small to large cap issuers, for over ten years. Mr. Otto is also a certified public accountant and received his Master’s in Business Administration and B.A. in Accounting from Niagara University.

SINCERELY,

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OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF FIVE THOUSAND USD BY SHORE THING MEDIA LLC FOR A ONE DAY XXII AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS. IN PREPARING THIS PUBLICATION, DEDICATED INVESTORS LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, DEDICATED INVESTORS LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. DEDICATED INVESTORS LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS DEDICATED INVESTORS LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. DEDICATED INVESTORS LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.

In the past VUZI has subcontracted for Raytheon, contracted with DARPA, received a $25 million investment from Intel, and partnered with BlackBerry

VUZI Boasts Over 2500 Enterprise Customers, Over 50% of Fortune 100 & 200+ Channel Partners

VUZI Lands $20 Million Investment From Quanta Computer As The Two Expand Their Smart Glasses Collaboration

READ THE INVESTOR PRESENTATION HERE

________________________

‍Hello Everyone,

It has been a fairly busy week so far.

We wanted to bring one more company to your attention before we close out the week.

Pull up VUZI right away.

VUZI is engaged in the design, manufacture, marketing and sale of augmented reality wearable display and computing devices, also referred to as head mounted displays (or HMDs, but also known as near-eye displays), in the form of Smart Glasses and Augmented Reality (AR) glasses. There AR wearable display devices are worn like eyeglasses or attach to a head worn mount. These devices typically include a wearable computer, cameras, and sensors that enable the user to view, record and interact with video and digital content, such as computer data, the Internet, enterprise data, social media or entertainment applications. Their wearable display products integrate micro-display technology with our advanced optics to produce compact high-resolution display engines, less than half an inch diagonally, which when viewed through our Smart Glasses and AR products create virtual images that appear comparable in size to that of a computer monitor or a large-screen television. This includes the representative forms such as augmented reality (AR), mixed reality (MR) and virtual reality (VR) and the areas interpolated among them. Extended reality (XR) is a term referring to all real-and-virtual combined environments. Their wearable display products cover the entire spectrum from “the complete real” to “the complete virtual” in the concept of reality–virtuality.

For AR glasses, historically, see-through HMDs displayed the real world using semi-transparent optics placed in front of the user’s eyes. VR users wore large goggles which sealed their view of the outside world. Both types of these HMDs were large and bulky and as a result, they had little mass-market appeal. We have developed thin optics, called waveguides, that are fully see-through and enable miniature display engines to be mounted in the temples of the HMD which allows the form factor of the Smart Glasses to be comparable to conventional eyeglasses. Our Smart Glasses and AR glasses are designed for all day use cases and are small enough to fit in a user’s pocket or purse.

VUZI claims that their waveguide optics and display engines offer a number of significant advantages over other wearable display solutions, including higher contrast, greater power efficiency, less weight, more compact size, and high brightness images for use outdoors. We also believe that our waveguide optics give us a substantial advantage over competitors’ optics, including other waveguides, because our solution allows us to produce optics that are fully transparent when off while also delivering the high brightness required for AR and enterprise Smart Glasses applications.

The key growth areas for VUZI are the enterprise, medical, consumer electronics, OEM, defense and security markets. The look to address most of these markets by developing and selling their own finished products and building a growing eco-system of software and services internally and with our value added resellers, or VARs, developers and end customers. Another potential channel to these markets we are developing includes supplying mass production of waveguide optics and display engines to select third parties to use in their products.

In the past VUZI has subcontracted for Raytheon, contracted with DARPA, received a $25 million investment from Intel, and partnered with BlackBerry.

You can see that positions are held by Cathy Wood’s Ark Investment, Blackrock, Vanguard, Citadel, and Morgan Stanley with roughly 36% institutional ownership.

Vuzix Smart Glasses Give You:

• A bright, unobtrusive display with expansive field of view
• User-centered ergonomic design
• Diverse mounting options for any preference
• Collaborative working via video streaming
• Integration with top conferencing platforms such as Zoom… pic.twitter.com/yQzOpQv8Fg

— Vuzix (@Vuzix) September 23, 2024

Quanta Computer Enters into a Strategic Investment in Vuzix in Support of Long-Term Waveguide Design and Supply Partnership

PUBLISHED

SEP 3, 2024 8:15AM EDT

• Vuzix to receive a $20 million dollar investment in 3 tranches from Quanta Computer, one of the world’s largest ODMs
• Quanta investment to support the expansion of Vuzix’ leading-edge waveguide production capabilities and joint development of new AR/AI smart glasses technologies

ROCHESTER, N.Y., Sept. 3, 2024 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of smart glasses and Augmented Reality (AR) technology and products, is pleased to announce Quanta Computer Inc. (TWSE: 2382.TW), (“Quanta”), a global Fortune 500 company and worldwide leading Original Design Manufacturer (ODM), has entered into a $20 million three-tranche strategic investment in Vuzix consisting of common and preferred stock of Vuzix.

Quanta’s investment commitment of $20 million consists of three investment tranches.  The first investment tranche will consist of $10 millionof Vuzix common stock. The second and third tranches of the total planned investment are $5 million each, are tied to specific milestones, and will consist of the purchase of Vuzix Series B Preferred Stock.

“We plan to work closely with Vuzix to support the AR smart glasses industry and today’s investment in Vuzix represents a strong endorsement of our partnership,” said Frank Chuang, Vice President of Quanta Computer.”

Quanta’s investment today represents another important step in our partnership, which has steadily deepened since we first disclosed it last November,” said Paul Travers, President and CEO of Vuzix. “This investment, and the ones to follow, will significantly strengthen our balance sheet and assure that we can implement whatever steps needed to ramp production of waveguides, as well as the co-development of new smart glasses and related technologies. We look forward expanding our customer relationship and partnership with such a leading product manufacturer as Quanta, as well as realizing the significant revenue potential it stands to generate for Vuzix in the upcoming years with both parties’ successes.”The foregoing description of Quanta’s investment is qualified in its entirety by reference to the Current Report on Form 8-K, filed with the Securities and Exchange Commission on September 3rd, 2024 and the agreements attached as exhibits thereto.

About Quanta Computer

Quanta Computer Inc. is a Fortune Global 500 Company and a leader in worldwide notebook manufacturing, as well as a leading solution provider in cloud computing. Quanta provides innovative products with superior technology in information and communications, consumer electronics, cloud computing, smart home solutions, smart automobile solutions, smart healthcare, and AIoT, etc. Founded in 1988 and listed in TWSE since 1999, Quanta Computer is headquartered in Taiwan with manufacturing and service locations across Asia, Americas, and Europe, etc. FY2023 consolidated revenues for Quanta Computer amounted to US$35 billionwith a workforce of approximately 62,000 employees worldwide. For further information, please visit Quanta Computer’s Website at http://www.quantatw.com/

Leading Asian Hospitals Use Vuzix (NASDAQ:VUZI) Smart Glasses to Enable Next Generation Surgical Instruction

PUBLISHED

JUL 1, 2024 9:30AM EDT

• Linkou Chang Gung Memorial Hospital and First Affiliated Hospital of Dalian Medical University use Vuzix M400 smart glasses during live surgeries

ROCHESTER, N.Y., July 1, 2024 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of smart glasses and Augmented Reality (AR) technology and products, is pleased to announce that two of the most well-known hospitals in Asia, the Linkou Chang Gung Memorial Hospital and First Affiliated Hospital of Dalian Medical University, recently hosted live broadcasts of surgeries using Vuzix M400™ smart glasses.

Traditional live broadcasts of surgeries often face issues such as obstructed camera angles, cramped surgical spaces, and specific sterile areas that restrict camera positioning and real-time adjustments. Additionally, surgical lights can cause overexposure, and the operating room’s internet limitations frequently compromise video quality.The broadcast experience at Linkou Chang Gung Memorial Hospital has been significantly improved through the implementation of Vuzix smart glasses and a premium medical streaming platform FacePro Telemedicine developed by Softfoundry International Pte Ltd. The combined use of these products successfully delivered the surgeon’s first-person perspective in a 4K high-definition live broadcast of knee joint surgery, allowing for both real-time recording and the sharing of the operations to conference room audiences. The operations themselves showcased advanced knee replacement techniques using United Orthopedic Corporation instruments and products, as well as provided enhanced surgical outcomes and improved educational experiences.  A case study of the broadcasted surgeries performed at this hospital can be viewed at vuzix.com/casestudy-taiwan-hospital.

At the First Affiliated Hospital of Dalian Medical University, Vuzix and Vuzix Asia distributor Arbigtec collaborated closely with medical solution provider VIS to successfully conduct a webinar featuring a live remote cardiac surgery. The webinar effectively demonstrated and taught activities using Vuzix smart glasses. Cardiac surgeons at the hospital presented remote surgery demonstrations with the goals of improving teaching results, reducing costs, enriching content, promoting learning and communication between medical personnel, and strengthening regional collaboration. Following the live surgical demonstration, Vuzix and VIS showcased their integrated solutions and discussed successful previous deployments. The VIS platform was created by a team of doctors and developed by healthcare experts. It addresses clinical requirements and offers interconnected audio and video solutions for hospitals. Currently, the VIS system is operational in over 200 major and local hospitals in China, and over 4000 live surgeries have been performed using the VIS platform. This has provided them with valuable expertise in integrating their platform with Vuzix glasses. The platform also features extensive integration with hospital patient data and video systems. To access further details about the webinar, please utilize the provided YouTube link below to view the recording.This activity has been reported by Vuzix, Arbigtec and VIS in cooperation with the Dalian Cardiac Surgery Association.”The use of Vuzix smart glasses within healthcare is becoming a steadily expanding dynamic as more and more hospitals, doctors, solution providers and agencies discover and embrace the improved experiences and outcomes that can be achieved with a hands-free, lightweight, all-day wearable device such as our M400,” said Paul Travers, President and Chief Executive Officer at Vuzix. “We look forward to expanding our relationships and use cases with such leading regional hospitals as Linkou Chang Gung Memorial and First Affiliated Hospital of Dalian Medical University, as well supporting our many distributors and software partners and their various healthcare solutions around the world.”  

‍NEWS

Vuzix (NASDAQ: VUZI) Lands $20 Million Investment From Quanta Computer As The Two Expand Their Smart Glasses CollaborationSep 17, 2024Vuzix Receives $10 Million First Tranche Investment from Quanta ComputerSep 16, 2024Quanta Computer Enters into a Strategic Investment in Vuzix in Support of Long-Term Waveguide Design and Supply PartnershipSep 3, 2024GPS TUNER Selects Vuzix (NASDAQ:VUZI) Z100 Smart Glasses to Bundle as a Heads-Up Display for Their eBike Software OfferingsAug 16, 2024Vuzix Reports Second Quarter 2024 ResultsAug 14, 2024Vuzix (NASDAQ: VUZI) Employs New Micro-touch Imprinting Process to Increase Optical Waveguide Performance and Production ThroughputAug 13, 2024Vuzix (NASDAQ: VUZI) Introduces M400 Xtreme Smart Glasses for Use in a Variety of Harsh Workplace EnvironmentsAug 12, 2024Vuzix Schedules Conference Call to Discuss Second Quarter 2024 Financial Results and Business UpdateAug 1, 2024Vuzix (NASDAQ: VUZI) Wholly Owned Subsidiary Moviynt Receives New Key SAP CertificationJul 30, 2024Leading Asian Hospitals Use Vuzix (NASDAQ:VUZI) Smart Glasses to Enable Next Generation Surgical InstructionJul 1, 2024Vuzix (NASDAQ:VUZI) and Avegant Announce Strategic Partnership to Develop Full Color Optical Reference Design for AI-Enabled Consumer Smart GlassesJun 20, 2024Vuzix (NASDAQ:VUZI) and Avegant Announce Strategic Partnership to Develop Optimized Optical Modules for AI-Enabled Smart GlassesJun 19, 2024Vuzix (NASDAQ: VUZI) Announces Its Intention to Offer High Durability Plastic Waveguide Design and Production CapabilitiesJun 18, 2024Vuzix (NASDAQ:VUZI) Revolutionizes the Display Technology Industry with Introduction of Large Format Waveguide Design and ManufacturingJun 13, 2024Vuzix (NASDAQ: VUZI) Continues to Receive Smart Glasses Reorders from Xander to Meet Rising Demand for Their Award-Winning Captioning Glasses for the Hard of HearingJun 10, 2024Vuzix Annual Shareholder Meeting to Be Held on June 13, 2024Jun 4, 2024U.S. Air Force Agency Awards Vuzix (NASDAQ:VUZI) Development Contract for Augmented Reality Head Mounted DisplaysJun 3, 2024Garmin Collaborates with Vuzix to Develop Next Generation Nano-Imprinted Waveguide with microLED based Display SystemsMay 14, 2024Vuzix to Bring New Low Cost, Full Color Waveguides to Display Week 2024May 10, 2024Vuzix Reports First Quarter 2024 ResultsMay 9, 2024

‍

MANAGEMENT TEAM

PAUL J. TRAVERS

CEO, President and Director

Paul Travers is the founder of Vuzix and has served as our President and Chief Executive Officer since 1997 and as a member of our Board of Directors since November 1997. Prior to the formation of Vuzix, Mr. Travers founded both e-Tek Labs, Inc. and Forte Technologies Inc. He has been a driving force behind the development of our products. With more than 30 years’ experience in the consumer electronics field, and 26 years’ experience in the virtual reality and virtual display fields, he is a nationally recognized industry expert. He holds an Associate degree in engineering science from Canton, ATC and a Bachelor of Science degree in electrical and computer engineering from Clarkson University.

‍

GRANT RUSSELL

CFO, Executive Vice President, Treasurer and Director

Grant Russell has served as our Chief Financial Officer and Executive Vice President since 2000 and as a member of our Board of Directors since April 2009. From 1997 to 2004, Mr. Russell developed and subsequently sold a successful software firm and a new concept computer store and cyber café. In 1984, he co-founded Advanced Gravis Computer (Gravis), which, under his leadership as President, grew to become the world’s largest PC and Macintosh joystick manufacturer with sales of $44 million worldwide and 220 employees. Gravis was listed on NASDAQ and the Toronto Stock Exchange. In September 1996 it was acquired by a US-based Fortune 100 company via a successful public tender offer. Mr. Russell holds a Bachelor of Commerce degree in finance from the University of British Columbia and is both a US Certified Public Accountant and a Canadian Chartered Professional Accountant.

PETE JAMESON

COO

Pete Jameson was named Chief Operating Officer (COO) of Vuzix in January 2022, having served as General Manager since joining the company in January 2021. Mr. Jameson brings a wealth of operating experience to his new position. He previously served as COO of Osterhout Design Group (ODG), a leading wearable technology company that developed and manufactured mobile, self-contained and lightweight head-worn mixed reality smart glasses with photo-realistic imagery. Prior to ODG, Mr. Jameson was a 20-year executive at Eastman Kodak where he was a founding leader of Kodak’s multi-billion-dollar Digital Camera Business including General Manager and VP of the Digital SLR and Professional Digital Capture Group that created the world’s first digital SLR cameras, General Manager of Kodak’s Commercial Imaging Business in Europe, Africa and the Middle East and General Manager and VP of Kodak’s Digital Devices Group. He holds a Bachelor of Science Electrical Engineering degree from Union College and a Master of Business Administration degree from the University of Rochester Simon School of Business.

ERIC BLACK

General Counsel

Eric Black was named General Counsel of Vuzix in March 2022. Mr. Black brings a wealth of legal experience to his new position. While serving as in-house for other private and public technology companies, Mr. Black developed extensive experience in supporting business development and operational optimization by developing processes/workflows, negotiating complex contracts, advising on mergers and acquisitions, and informing business strategies that strengthen compliance and facilitate consistent growth. Mr. Black was previously named one of Rochester’s “Forty Under 40” by the Rochester Business Journal in 2006 and one of Rochester’s Top Counsel by the Rochester Daily Record in 2019. He holds a Bachelor of Economics degree from the University of Rochester and a Doctor of Jurisprudence degree from the University of Virginia School of Law.

SHANE PORZIO

Vice President Engineering

Shane Porzio has been with the Company for more than ten years and has more than 13 years of experience in architecture of systems and designs for hardware and software. His previous employment was at Lockheed Martin where he served as a Hardware Engineer. Mr. Porzio has BS in Computer Engineering Technology from Rochester Institute of Technology and his MS in Computer Science from Rochester Institute of Technology.

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Pineapple is leveraging new avenues of data analytics, Artificial Intelligence (AI), and machine learning to produce the most advanced applications in the Canadian Mortgage Industry

Pineapple won the 2023 Award for Digital Innovation in a Brokerage at the Canadian Mortgage Awards

PAPL has experienced 3 year Revenue Growth of 1452%  

PAPL has 657 Agents with 216 Jumping on board in the last year

Pineapple Financial Inc. Launches Pineapple Insurance Just Last Week!!

READ THE INVESTOR PRESENTATION HERE

______________________

‍Hello Everyone,

We have another company for you to research for tomorrow’s session.

This is a company that I have never profiled before and am excited to be among the first to bring this one to your attention.

Pull up PAPL right away and put it on your screen.

There is a lot to research on this one as the housing / mortgage market can be a complex and boring sector to talk about.

Recent rate cuts have everyone buzzing and speculating regarding future slashes and how it will affect housing inventory.

It almost seems like you need an advantage in these conditions. Good thing for PAPL they have already proven that their AI technology is already positively affecting their bottom line on several different fronts.

Let’s take a look what Pineapple does……….

Pineapple Financial Inc. is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokerages, as well as the overall experience of homeowners.

With approximately 700 brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.

As Canada enters a period of potential housing market upswing, Pineapple’s scalable data-driven technology platform and market expertise are set to capitalize on the anticipated increase in mortgage activity while streamlining the home-buying process.

The Bank of Canada’s recent rate cuts signal the potential for further easing if economic conditions warrant it. Should additional rate cuts occur, the affordability of mortgages will improve, likely leading to even greater demand for refinancing and new mortgages. Pineapple is prepared to adapt to these market conditions, positioning itself as a key player in the Canadian mortgage market.

Pineapple offers a compelling growth story grounded in market dynamics that is disrupting the traditional mortgage brokerage model by empowering agents and their clients with a scalable data driven technology platform tailored to fit their diverse needs. Their ability to harness data, coupled with a robust pipeline of mortgage renewals and new originations, positions us to drive significant revenue growth in the coming quarters.

The PineappleONE

Pineapple’s advanced platform, PineappleONE, launched in August, leverages real-time data analytics to offer personalized mortgage solutions at scale.

As homebuyers and those renewing their mortgages seek out the best financial terms in a lower-rate environment, PineappleONE can quickly identify, target, and engage these consumers, giving them a significant competitive edge. Notably, the platform is not just a tool for customer acquisition but also designed to maximize retention—key to Pineapple’s long-term growth strategy.

It’s current strategy is also working well. In the third quarter of fiscal 2024, PineappleONE helped brokers achieve a 32% reduction in deal processing time. This operational efficiency drove a 22.72% increase in mortgage loan volumes, with $377.64 million in residential mortgages closed in the period, up from $307.73 million the previous year. This volume increase resulted in a 20.43% boost in revenue, with Q3 fiscal 2024 revenues reaching $736,448, a sharp increase from $603,231 in the same quarter of 2023.

Moving forward, Pineapple’s performance could be even better. Many believe that the U.S. Fed’s and Bank of Canada’s recent rate cuts could be the beginning of a consistent trend. If so, PAPL is ideally positioned to capitalize on easing monetary policy, which will likely enhance mortgage affordability for first-time homebuyers and existing homeowners looking to refinance. Still, the most significant value driver may not be those mentioned.

KEY DRIVERS

Growth: Pineapple Financial Inc. secured the 27th spot on the prestigious 2023 Report on Business Ranking of Canada’s Top Growing Companies.

Innovation: Pineapple won the 2023 Award for Digital Innovation in a Brokerage at the Canadian Mortgage Awards.

Technology: Pineapple is leveraging new avenues of data analytics, Artificial Intelligence (AI), and machine learning to produce the most advanced applications in the Canadian Mortgage Industry.

People: Pineapple was recognized as Canadian Mortgage Professional’s Top Mortgage Employers for 2023.

Culture: Pineapple, the people-first mortgage brokerage, believes that creating success starts taking care of our people, so they can take care of our customers.

Training & Support: Pineapple offers unparalleled support and interactive training sessions, skill building workshops, the largest online knowledge platform, and the only 24/7 continuous learning platform.

Toronto, Ontario–(Newsfile Corp. – September 24, 2024) – Pineapple Financial (NYSE American: PAPL) – With the recent reforms to Canada’smortgage rules, the real estate market is poised for a resurgence in activity, offering significant growth opportunities for Pineapple Financial. The government’s initiatives to increase accessibility for first-time buyers and support move-up buyers, alongside the rise of insured mortgage limits, signal an environment ripe for expansion. These reforms align with Pineapple’s strategic focus on providing innovative mortgage solutions, positioning us to capture market share and drive growth in the coming quarters.

New Mortgage Rule Changes: A Catalyst for Market Growth

The Canadian government’s recent reforms include two pivotal changes that are set to unlock demand across key buyer segments:

1. Introduction of 30-Year Amortizations for First-Time Buyers and New Builds

• Starting August 1, 2024, first-time buyers can now access 30-year amortization products for new builds, expanding to all homes by December 15, 2024.
• This extension dramatically reduces monthly payments, addressing one of the largest affordability barriers for younger buyers, including Millennials and Gen Z.
• With the recent rise in property prices, this measure provides critical relief to potential buyers, enabling them to enter the market even as home values remain high.

2. Increase in Insured Mortgage Cap to $1.5 Million

• The insured mortgage limit has been raised from $1 million to $1.5 million, providing a vital boost for move-up buyers looking to transition into larger homes to accommodate growing families.
• With housing prices stabilizing or declining slightly in key markets like Toronto and Vancouver, this increase allows move-up buyers to bridge the gap created by declining home equity without the burden of a large down payment.

These reforms reflect the government’s strategic intent to alleviate housing pressures and stimulate market activity, with positive ripple effects across the real estate ecosystem.

How Pineapple Financial is Positioned to Capitalize on Market Changes

Pineapple Financial is uniquely positioned to benefit from these reforms. Our advanced data-driven mortgage platform, PineappleONE, is built to handle a rapidly evolving market landscape, providing our agents with powerful tools to engage both first-time and move-up buyers effectively. Here’s how we plan to drive growth:

1. Expanding Our Reach to First-Time Buyers

• The new 30-year amortization products align with Pineapple’s focus on delivering tailored mortgage solutions to younger, tech-savvy buyers. With PineappleONE’s seamless digital experience, we provide this emerging segment with personalized options to navigate the new landscape and secure homeownership.
• Our platform’s real-time data insights allow us to target and engage first-time buyers who are now better positioned to enter the market, ensuring that Pineapple captures a larger share of this crucial demographic.

2. Empowering Move-Up Buyers

• Move-up buyers represent a significant growth opportunity. Pineapple’s analytics tools allow us to pinpoint existing homeowners whose equity may have been impacted by recent market adjustments, offering customized solutions that take advantage of the increased insured mortgage cap.
• Our refinancing products will play a key role in helping this segment transition to larger homes, which also frees up inventory for first-time buyers-an essential element in creating a fluid, dynamic housing market.

Growth Potential in the Canadian Real Estate Market

The demand for housing in Canada remains robust, driven by the following macroeconomic factors:

• Population Growth: Canada’s population has been growing steadily, with immigration continuing to drive demand for housing. The federal government’s target of welcoming over 1 million new immigrants by 2025 means the real estate market will need to expand to meet this demand.
• Housing Supply Shortages: Despite price corrections in certain markets, Canada is facing a significant housing shortage, particularly in urban centers. The government’s recent reforms aim to increase housing supply through new builds, which aligns perfectly with Pineapple’s ability to finance and facilitate these transactions.
• Rate Stability: As the Bank of Canada moves towards more stable interest rate policies, housing affordability will improve, encouraging more buyers to act. Pineapple’s portfolio of adaptable mortgage products allows us to offer competitive solutions as the cost of borrowing stabilizes.

Pineapple’s Competitive Edge

• Tech-Enabled Scalability: PineappleONE, our proprietary platform, equips brokers with a fully integrated digital suite, allowing us to scale operations and capture market share in an efficient, tech-driven way. With over 700 agents utilizing the platform, we are primed to increase productivity and close rates in response to rising demand.
• Data-Driven Decision Making: Our investment in data analytics provides us with unparalleled insights into market trends, buyer behavior, and mortgage renewals. This allows us to target high-opportunity segments with precision, enhancing both acquisition and retention.
• Broker Network Expansion: As we grow our agent network, Pineapple Financial will continue to attract new talent through our unique value proposition, helping us further penetrate the market and deliver strong results to shareholders.

The recent mortgage reforms mark a significant turning point in the Canadian real estate market, and Pineapple Financial is ready to capitalize on this opportunity. As demand for both first-time and move-up buyers grows, our technology-driven approach, combined with our deep market expertise, positions us to deliver value across the board.

With an expanding product suite, scalable tech platform, and a strong pipeline of clients, Pineapple is on track to become a leading force in the evolving Canadian mortgage landscape.

PineappleONE Adoption Boosts Broker Efficiency, Leading to a 22.72% Increase in Loan Origination to $377 Million

Toronto, Ontario–(Newsfile Corp. – August 21, 2024) – Pineapple Financial Inc. (NYSE American: PAPL), a leading Canadian fintech company, today announced early-stage success showcasing the transformative impact of its PineappleONE platform. Designed to streamline mortgage processing, PineappleONE has significantly increased broker efficiency, resulting in a substantial rise in loan volumes and revenue for the company.

Key Findings:

Pineapple Financial’s internal analysis revealed that brokers utilizing PineappleONE experienced a 32% reduction in deal processing time due to the platform’s advanced automation features. This efficiency boost directly contributed to a 22.72% growth in mortgage loan volumes in Q3 fiscal 2024, with the company generating $377.64 million in residential mortgages, up from $307.73 million in the same period last year.

Additionally, the platform’s automation capabilities-such as document management, automated lender submissions, and real-time client updates-enabled brokers to handle more transactions with greater accuracy. This increased efficiency led to a 20.43% rise in revenue, with Q3 fiscal 2024 revenue reaching $736,448, compared to $603,231 in Q3 fiscal 2023.

Shubha Dasgupta, co-founder and CEO of Pineapple Financial, commented on the platform’s impact, stating, “PineappleONE has proven to be a game-changer for our brokers. By automating key aspects of the mortgage process, we’ve not only reduced the time brokers spend on administrative tasks but also improved their ability to close deals faster. This early data clearly demonstrates the direct correlation between increased efficiency and our impressive loan volume and revenue growth.”

Efficiency Drives Revenue:

The findings further highlighted that brokers who fully adopted PineappleONE’s features saw their individual loan volumes increase by an average of 28%, with some top-performing brokers reporting a 37.5% reduction in time spent per transaction. This efficiency not only allowed brokers to take on more clients but also enhanced client satisfaction, leading to higher referral rates and repeat business.

As a result, Pineapple Financial has not only grown its mortgage originations but also strengthened its market position by enhancing broker productivity and client outcomes. The success of PineappleONE has set a new standard in the mortgage industry, showcasing the potential of technology to drive both operational efficiency and financial performance.

Continued Innovation:

Building on this success, Pineapple Financial is committed to further enhancing PineappleONE with additional features aimed at increasing automation and broker support. The company plans to introduce AI-driven tools to optimize lead management and client retention, further empowering brokers to maximize their productivity and revenue potential.

“We are just beginning to tap into the full potential of PineappleONE,” added co-founder and COO, Kendall Marin. “As we continue to innovate and expand the platform’s capabilities, we expect even greater efficiencies and financial gains for our brokers and our company.”

Pineapple Financial Inc. Launches Pineapple Insurance

PUBLISHED

SEP 19, 2024 8:00AM EDT

Unlocking a Multi-Billion Dollar Market with Life, Creditor, and Disability Coverage for Mortgage Clients

Toronto, Ontario–(Newsfile Corp. – September 19, 2024) – Pineapple Financial Inc. (NYSE American: PAPL), a leading Canadian fintech platform, is thrilled to announce the official launch of Pineapple Insurance, a transformative new business vertical that is designed to unlock significant growth potential for the company. This development not only allows Pineapple to tap into Canada’s multi-billion dollar insurance market but also offers clients a more personalized, comprehensive financial solution that integrates seamlessly with their mortgage needs. Pineapple Insurance is expected to become a cornerstone of the company’s future revenue streams by delivering enhanced customer value and protection.

The launch of Pineapple Insurance marks a pivotal moment in the company’s evolution, fueled by strategic capital deployment from the proceeds of Pineapple’s IPO in November 2023. This initiative has been in development for over a year, and now, investors can see their capital being directed toward long-term, high-impact growth. The introduction of life, creditor, and disability insurance is not only a natural extension of Pineapple’s integrated financial services platform but also a critical move to capture a share of Canada’s growing insurance market, which generated $122 billion CAD in premiums in 2022 alone.

A Multi-Billion Dollar Opportunity:

The Canadian life and health insurance sector is forecasted to grow at an annualized rate of 4.5% through 2027, with increasing demand driven by economic uncertainty, rising personal debt, and consumer desire for financial security. By integrating insurance solutions into the mortgage process, Pineapple stands to benefit from a market where over 700,000 new mortgages are issued annually in Canada, alongside the 47% of mortgages expected to renew in the next three years. This creates an immense opportunity to cross-sell insurance products and expand revenue with every mortgage transaction.

Pineapple Insurance offers a more comprehensive and personalized solution to its mortgage clients, allowing them to choose coverage that fits their unique financial and personal needs, whether it’s life, creditor, or disability insurance. By integrating this offering into the mortgage process, Pineapple provides clients with a seamless, all-in-one solution, simplifying their financial decision-making and ensuring they are fully protected. This initiative enables the company to capture premium revenue from its existing client base of thousands of mortgage holders and prospects, positioning Pineapple to drive both retention and new sales. Moreover, by offering tailored solutions, Pineapple strengthens the client relationship, ensuring that each individual receives the most relevant and valuable coverage.

“We’ve been building towards this launch for over a year, and we’re beyond excited to finally share it with our investors and clients,” said Kendall Marin, President and COO of Pineapple Financial. “We believe Pineapple Insuranceis a game-changer. By offering in-house life, creditor, and disability insurance, we’re not only meeting a regulatory requirement but enhancing the value we provide to clients-while adding a potential highly lucrative revenue stream for our business.”

The Strategic Impact for Investors:

1. Revenue Growth & Profitability: Pineapple Insurance is set to significantly enhance overall revenue while improving the customer experience by offering a comprehensive suite of mortgage and insurance solutions. By integrating personalized insurance coverage with mortgage services, Pineapple is poised to capture substantial value from its extensive client base. The Canadian insurance market is vast, with strong demand for financial security driving growth. Pineapple’s ability to offer tailored insurance products, such as life, creditor, and disability coverage, presents a significant opportunity to boost revenue and deepen client relationships. With the potential to integrate insurance offerings into existing mortgage transactions, Pineapple is well-positioned to create a sustainable revenue stream. The synergy between mortgage origination and insurance sales is expected to generate substantial recurring revenue, reflecting the company’s strategic approach to leveraging its platform for long-term growth. This integration not only enhances the value provided to clients but also supports Pineapple’s objective of expanding its market presence and financial impact.
2. Strong Client Retention through Multi-Product Strategy: Cross-selling insurance products alongside mortgages delivers more than revenue growth-it deepens the value proposition for clients, building a stronger and more lasting relationship. By offering customized, relevant insurance coverage alongside mortgage renewals and new loans, Pineapple helps clients make well-informed decisions that provide long-term financial security. Research shows that financial institutions offering multi-product solutions experience a 30% increase in retention compared to single-product providers. Pineapple’s ability to bundle mortgage solutions with life and disability insurance creates a ‘stickier’ client relationship, ensuring that clients are more likely to stay loyal for years to come. As a result, Pineapple anticipates a rise in its already impressive retention rates, which currently hover above 70% across its mortgage portfolio. By offering insurance alongside renewals, Pineapple creates an additional touchpoint with clients, further deepening the relationship and boosting lifetime customer value.
3. Capital Deployment and Long-Term Value Creation: Pineapple Insurance is a clear example of the strategic use of proceeds from the company’s IPO last November. A portion of the $3.5 million USD raised has been allocated to build this division, reinforcing Pineapple’s commitment to leveraging investor capital to create scalable, revenue-generating assets. The deployment of capital toward this initiative reflects Pineapple’s long-term vision of becoming a fully integrated financial services platform that maximizes client value and revenue potential. “We promised our investors that the proceeds from our IPO would be deployed thoughtfully to accelerate growth and enhance shareholder value,” said Shubha Dasgupta, CEO of Pineapple Financial. “With Pineapple Insurance, we believe we’ve done exactly that. This division has been in development for a long time, and its launch signifies the beginning of a new era of profitability and scalability for our company. By focusing on our core principles of customer-centric innovation, we’re building a company that’s prepared for sustained growth and success.”
4. Market Tailwinds: Recent moves by the Federal Reserve to lower interest rates mark a significant shift in monetary policy that could provide a much-needed boost to the broader mortgage market. As borrowing costs begin to ease, consumer demand for refinancing and new mortgage solutions is expected to rise. These rate cuts, along with Pineapple’s comprehensive mortgage and insurance offerings, position the company to capitalize on improving market conditions and deliver enhanced value to clients while driving sustained revenue growth.

A Fully Integrated Financial Ecosystem:

Pineapple Insurance adds a vital layer to Pineapple’s tech-enabled financial services platform, allowing the company to offer truly end-to-end solutions to clients. As a licensed Managing General Agent (MGA) operating in Ontario, Manitoba, British Columbia, and Alberta, Pineapple is now positioned to provide mortgage, insurance, and financial advice all through one platform-offering clients convenience and peace of mind.

This full-service model positions Pineapple as a leader in the Canadian mortgage and financial services industry, capable of retaining clients and generating long-term recurring revenue by offering a broad array of financial products.

Source: Canadian Life and Health Insurance Association (CLHIA) report, 2022: https://www.clhia.ca/

Source: CMHC’s Canadian Housing Survey, 2021: https://www.cmhc-schl.gc.ca/

About Pineapple Insurance

Pineapple Insurance Inc., a wholly owned subsidiary of Pineapple Financial Inc., offers a wide range of insurance products, including life insurance (term and permanent), creditor insurance, critical illness insurance, and disability insurance. Licensed as an MGA, Pineapple Insurance is dedicated to providing comprehensive financial protection to clients across Canada, ensuring that every mortgage client has access to personalized and secure coverage.

Pineapple Financial Inc. Announces 20.43 Percent Revenue Growth in Fiscal 2024 Third Quarter Ended May 31, 2024

PUBLISHED

JUL 15, 2024 6:22PM EDT

Toronto, Ontario–(Newsfile Corp. – July 15, 2024) – Pineapple Financial Inc.(NYSE American: PAPL), a leading tech-focused mortgage firm with an integrated network of partner brokerages and agents across Canada, today announced that, for its third 2024 fiscal quarter ended May 31, 2024, the company achieved revenue of $736,448, a 20.43 percent increase as compared to revenue of $603,231 for its fiscal 2023 third quarter ended May 31, 2023.

Pineapple generated $377.64 million in residential mortgage loans in Q3 fiscal 2024, compared to $307.73 million in Q3 fiscal 2023, representing an increase of $69.91 million, or 22.72 percent.

Selling, general and administrative expenses during the three months ended May 31, 2024, were $491,666, a 29.62 percent decrease as compared to SG&A expenses of $698,568 during the corresponding period in 2023. This decrease was due to the absence of expenses incurred last year for the preparation of our IPO. The company had a net loss of $848,605, or $(0.12) per share, in fiscal Q3 2024, a 4.99 percent increase on the net loss of $808,234, or $(0.13) per share, in the corresponding quarter in fiscal 2023.

For the first nine months of fiscal 2024, which ended May 31, 2024, the company had revenue of $1,971,377, a 1.73 percent improvement on revenue of $1,937,923 achieved in the first nine months of fiscal 2023.

The company generated $1,083.771 million in residential mortgage loans in the first nine months of fiscal 2024 compared to $966.531 million in the corresponding period of fiscal 2023, representing an increase of $117.24 million, or 12.13 percent.

SG&A expenses in the first nine months of fiscal 2024 were $1,545,900, a 4.41 percent decrease compared to SG&A expenses of $1,617,231 during the first nine months of fiscal 2023. Pineapple had a net loss of $2,379,444, or $(0.37) per share, in the first nine months of FY 2024, compared to a net loss of $2,211,981, or $(0.35) per share, during the same period in FY2023.

The company’s cash position on May 31, 2024, was $1,052,207, a decrease of $645,296 compared to a cash position on August 31, 2023, of $1,697,503.

Weighted average common shares outstanding were 7,181,978 on May 31, 2024, and 6,306,979 on May 31, 2023.

“We are very gratified by our 2024 third-quarter fiscal results,” said co-founder and chief executive officer Shubha Dasgupta. “This quarter saw positive movement in the right direction from both macroeconomic and business perspectives. Although the real estate market across the country has faced challenges, positive signs have begun to emerge. The Bank of Canada has started reducing interest rates, fixed mortgage rates have dropped, and we are seeing more supply coming onto the market. Additionally, policy changes such as the introduction of 30-year amortizations for first-time homebuyers indicate a focus on helping younger Canadians enter the housing market.”

From a business perspective, we have continued to grow, even in challenging markets, which is a testament to our resilience and effectiveness as a business and a platform for hundreds of brokers across the country. We have launched a variety of new technology products to increase revenue and decrease costs, participated in numerous conferences, and continued to expand into new markets and add new offices this quarter.

“We are exceptionally pleased with the significant strides we’ve made this quarter,” said co-founder and chief executive officer Shubha Dasgupta. “The new technology products we’ve launched are driving both increased revenue and reduced costs, demonstrating our commitment to innovation and efficiency. Our participation in numerous conferences and ongoing expansion into new markets highlight our relentless pursuit of growth. As the Canadian real estate market shows signs of recovery, we are poised to capitalize on these favourable conditions and continue our upward trajectory, delivering robust results for our stakeholders.”

‍‍NEWS

Pineapple Financial Positioned for Strategic Growth as Canadian Mortgage Rule Changes Ignite Market Opportunity9 hours agoPineapple Financial Inc. Launches Pineapple Insurance5 days agoPineapple Financial Anticipates Growth Surge Amid Bank of Canada’s Consecutive Rate Cuts and Rising Housing CompletionsSep 5, 2024The Impact of Future Interest Rate Cuts on the Canadian Mortgage Market and Pineapple’s Growth PotentialAug 28, 2024PineappleONE Adoption Boosts Broker Efficiency, Leading to a 22.72% Increase in Loan Origination to $377 MillionAug 21, 2024PineappleONE’s Advanced Analytics Set to Drive Significant Revenue GrowthAug 15, 2024Unique Canadian Mortgage Market Presents $2.2 Trillion Opportunity For Pineapple FinancialAug 7, 2024Pineapple Financial Shows Early Results, Increasing Gross Billing Margin with Potential to Grow from 7.94% to 34.8% Through Innovative Counsellor ProgramJul 31, 2024$2.1 Trillion Canadian Mortgage Market Poised for Growth as Bank of Canada Rate Cut Sparks New Opportunities for PineappleJul 25, 2024Pineapple Financial Inc. Partners with Walnut Insurance to Add Additional Revenue Stream Tapping into $85 Billion P&C Insurance MarketJul 22, 2024Pineapple Financial Inc. Announces 20.43 Percent Revenue Growth in Fiscal 2024 Third Quarter Ended May 31, 2024Jul 15, 2024Pineapple Financial to Participate in 3rd Annual Investor Clubhouse at RBC Canadian Open, May 30 – June 2, 2024May 30, 2024Pineapple Financial Inc. Announces Participation in the Centurion One Capital LA Summit 2024May 28, 2024Pineapple Financial Inc. Adds Six Brokerages to Its Affiliate NetworkMay 22, 2024Pineapple Financial Reports Significant Growth Amid Economic ChallengesMay 7, 2024Pineapple Financial Inc. Announces Participation in the EF Hutton Annual Global ConferenceMay 1, 2024Pineapple Financial Inc. Leverages AI to Improve Mortgage Agent Onboarding Process by 92%Apr 25, 2024Pineapple Financial Inc. Announces 59.04 Percent Revenue Growth in Fiscal 2024 Second Quarter Ended February 29, 2024Apr 15, 2024Pineapple Financial Inc. Introduces Intuitive Mortgage Document Management, Doc Genius, for PineappleONEApr 11, 2024Pineapple Financial Inc. to Leverage its Online Application System with Century 21’s Largest Brokerage in Canada

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22nd Century Announces New Branded Products Order with Customer for Southeast Asia

VLN® is available in over 5,000 stores across 26 states

________________________

‍Hello Everyone,

We have a new profile that we want you to put on your radar for tomorrow’s session.

They announced some explosive news this morning that sent it moving double digits on strong interest.

Pull up XXII immediately.

2nd Century Group, Inc. (Nasdaq: XXII) is a next-generation plant biotechnology company, focused on improving human health through plant science. Using their breakthrough, patent-protected IP to control nicotine biosynthesis in the tobacco plant, they have developed the first market-ready, reduced nicotine content (RNC) tobacco plants and cigarettes containing 95% less nicotine. They received the first and only FDA MRTP authorization for a combustible cigarette in December 2021. The sole function of their cigarettes is to make it easier to reduce the number of cigarettes smoked.

In tobacco, 22nd Century employs a unique and innovative platform of modern plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding, to deliver healthier solutions for pressing issues. They create new, proprietary plants with select alkaloid, terpenoid, and flavonoid profiles, improved yields, and valuable agronomic traits for the life science and consumer products industries.

Rather than fight that trend, they’ve done something better by developing a product line that gives choices back to the consumer and, at the same time, pioneers a movement that is reshaping the tobacco industry. XXII isn’t saying that all of a sudden, nicotine is good. Far from it. But they are serving up a product option, its innovative VLN® (Very Low Nicotine) cigarettes, that can do more than appease those wanting nicotine- they’re developing a whole new category that could also serve investor appetites craving innovative and revolutionary growth stock companies.

Its innovative VLN® cigarettes empower smokers to reduce nicotine consumption without sacrificing the smoking experience they know. That difference is a competitive advantage. And it’s not just another nicotine delivery system; it’s giving smokers the ability to make informed decisions about their nicotine intake. The value driver in its mission to create market and shareholder value is the FDA-approved VLN® cigarette, which contains 95% less nicotine than traditional cigarettes.

Currently, VLN® is available in over 5,000 stores across 26 states, but that could be just the start.

22nd Century has announced ambitious plans to extend distribution to over 270,000 retail outlets nationwide. And no stopping there. International expansion is also on its agenda, with established partnerships in markets like South Korea, that where the demand for harm-reduction products is growing. And the infrastructure for growth is in place. XXII’s supply chain includes a stockpile of low-nicotine tobacco ready to meet demand and has the additional capacity to manufacture up to 1.4 million cartons of VLN® cigarettes—enough to generate up to $85 million in revenue. In other words, XXII isn’t just poised for success; they have the infrastructure in place to meet the increasing consumer demand for their products.

22nd Century Announces New Branded Products Order with Customer for Southeast Asia

New Customer for 22nd Century’s Internally Owned Moonlight Brand Could Increase Factory Volumes by More Than 30% When Fully Scaled, Improve Gross Profit Profile

Mocksville, North Carolina–(Newsfile Corp. – September 23, 2024) – 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have a choice about their nicotine consumption, today announced a new customer agreement to supply its Moonlight branded cigarettes to the Southeast Asia marketplace. The first shipment is expected in the fourth quarter of 2024, with the opportunity to significantly expand volumes as the customer launches in key markets throughout 2025.

“This new customer represents an exciting opportunity to deploy one of our underutilized in-house brand assets to drive new growth opportunities, expanding our presence in a market with a widespread smoking culture in Southeast Asia,” said Larry Firestone, Chairman and CEO. “At scale, we believe this contract represents an opportunity to grow our manufacturing volumes by more than 30% over the next 15 months.”

“We have additional brands and assets that we can deploy into these or other markets in the U.S. and around the world,” added Firestone. “We are currently discussing similar opportunities with customers interested in deploying those brands and predicates, as well as customers interested in offering a reduced nicotine content product under their own branding, helping us to build a new category around our innovative VLN® products.”

22nd Century owns a number of brands which among others include Pinnacle, Moonlight, Magic and Ranger, in addition to its VLN® 95% reduced nicotine content branded cigarettes, the only combustible cigarette authorized by the U.S. Food and Drug Administration specifically designed to reduce smoking rates. The Company recently announced the launch of its VLN® branded products into the South Korean market, and expansion strategy in the U.S., which is expected to include flanker brands for additional reduced nicotine content products intended to help adult smokers to smoke less.

22nd Century Updates Strategic Growth Initiatives for VLN

PUBLISHED

SEP 11, 2024 7:55AM EDT

Low nicotine tobacco stock on hand can supply up to $85.0 million worth ofVLN® revenue and positive cash flow

Plans announced for VLN® targeted distribution and expansion to reach over 270,000 retail outlets, expanded international activity, and flankerVLN® brands with existing CMO private label customers

Mocksville, North Carolina–(Newsfile Corp. – September 11, 2024) – 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have a choice about their nicotine consumption, today announced plans to expand distribution of its VLN® 95% reduced nicotine content smoking products.

Based on recent consumer point-of-sale data on VLN® sales, the Company is now moving to expand its sales and marketing operations to all available retail outlets in the US as well as growing its distributions worldwide. The Company’s VLN® brand currently has a distribution of approximately 5,100 stores across 26 states, with a total available market of more than 270,000 retail outlets nationwide.

“Smokers are continuing to buy VLN® cigarettes, with greater sales than previously understood in many of the pilot locations established in 2023,” said Larry Firestone, Chairman and CEO. “Our low nicotine message is being heard, and our newly hired sales and marketing team has formulated a comprehensive revitalization plan that we believe will activate VLN® in the market. We will incorporate consumer engagement strategies based on what we learned in the original launch and expand our distribution to help place VLN® within the reach of more smokers looking to take control of their nicotine consumption.”

The Company’s global distribution plans include sales of VLN® products internationally through partners handling all distribution, sales and marketing efforts, using the model of its renewed distribution agreement with a South Korean partner previously announced. In addition, the Company plans to launch flanker brands based on its proprietary 95% less nicotine tobacco through existing CMO private label relationships, both domestically and internationally, to build a harm reduction category and drive awareness of how reduced nicotine content cigarettes can help smokers to smoke less.

“To meet increased demand, we are poised to benefit from an immense financial advantage in the form of our raw material inventory,” added Firestone. “In addition to finished goods on hand, we have sufficient fully paid-for low nicotine tobacco stock for the manufacture of up to 1.4 million cartons of VLN® and flanker brand cigarettes. Monetizing these assets, together with our planned flanker brand initiatives, gives us the potential to realize up to $85 million in VLN® revenue alone and positive cash flow before future tobacco crops even need to be harvested and processed. Moving this existing inventory to the market is our number one priority and our team is laser focused on this objective.”

22nd Century Group Reports Second Quarter 2024 Financial Results

PUBLISHED

AUG 13, 2024 6:00AM EDT

Path to Cash Positive Operations in Q1 2025; Continued Fiscal Discipline with 2Q24 Financial Results; Reduced Net Debt by ~$6.3 Million Year-to-Date

Mocksville, North Carolina–(Newsfile Corp. – August 13, 2024) – 22nd Century Group, Inc. (NASDAQ: XXII) today announced results for the second quarter ended June 30, 2024, and provided an update on recent business highlights.

Second Quarter 2024 Financial Results (compared to First Quarter 2024, except as noted)

All figures reported below reflect continuing operations, excluding discontinued operations related to the sale and exit of the Company’s hemp/cannabis franchise in late 2023.

• Net revenues increased sequentially by 22.8% to $7.9 million, compared to $6.5 million.
• Gross profit was $0.6 million, compared to $(1.1) million.
• Operating loss declined 53.8% to $2.0 million, compared to $4.4 million.
• Net loss decreased 61.4% to $2.2 million, compared to $5.5 million.
• Basic and diluted EPS improved to $(0.30), compared to $($1.72).
• Adjusted EBITDA declined to a loss of $2.6 million, from a loss of $3.5 million.

“The second quarter financial results demonstrate our ongoing progress in the rapid transformation of 22nd Century’s operations, including improved revenues based on many new CMO opportunities, positive gross profit, and significantly reduced operating expenses for our Company,” said Larry Firestone, Chairman and CEO. “Our revenue growth from new contract volumes we have secured will continue to ramp in the latter half of fiscal 2024 as we work to achieve cash positive operations by the first quarter of 2025. Additionally, our emphasis on debt reduction and improvements to the balance sheet have allowed us to focus our cash resources on operating the business.”

Second Quarter 2024 – Discussion of Product Line Net Revenues

• Cigarette net revenues, including export volume, increased to $4.1 million or 8% compared to $3.8 million in the prior year comparable period on neutral volume increases. Q2 2024 cigarette sales benefitted from strong summer seasonal demand with key customers, price increases that took effect in April 2024 and a one-time Spectrum® research cigarette order which provided a $0.9 million boost.
• Filtered cigars net revenues decreased to $3.3 million, compared to $3.9 million in the prior year comparable period, reflecting lower volumes as the Company continues to transition away from low or negative margin manufacturing agreements, in favor of higher margin cigarette manufacturing agreements. Additionally, price increases for certain customers took effect in April 2024.
• Cigarillo distribution net revenues amounted to $0.6 million, reflective of the expanded Pinnacle branded product offerings launched in Q2 2024 with a top-five national convenience store chain.
• VLN® cigarette net revenues were negligible in the second quarter, a decrease from the comparable prior year period which benefited from stocking orders with major c-stores. While the Company has secured broad distribution of its VLN® products, the sell-through has not yet materialized. The Company is making changes to rebrand and relaunch its VLN® products, which will be discussed further on the conference call noted below.

NEWS

22nd Century Announces New Branded Products Order with Customer for Southeast Asia5 hours ago22nd Century Updates Strategic Growth Initiatives for VLNSep 11, 202422nd Century Satisfies IP Licensing and Sponsored Research Obligations to NCSU Through 2025 in an Equity TransactionSep 9, 202422nd Century Group to Participate in the HC Wainwright Conference on September 10, 2024Sep 6, 202422nd Century Raises $1.68 Million in Regulation A Offering, Amends Senior Secured Credit FacilityAug 28, 202422nd Century Group to Participate in the Emerging Growth Virtual Conference on August 21, 2024Aug 20, 202422nd Century Group Reports Second Quarter 2024 Financial ResultsAug 13, 202422nd Century Group to Announce Second Quarter 2024 Results on August 13, 2024Aug 6, 202422nd Century Appoints Robert Manfredonia as Executive Vice President of Sales and MarketingJul 30, 202422nd Century Announces New Greenbutts Manufacturing Agreement for Innovative Plant-Based, Biodegradable Cigarette FiltersJul 10, 202422nd Century to Re-Launch and Expand VLN(R) Presence in South KoreaJul 9, 202422nd Century Group to Participate in the Emerging Growth Virtual Conference on July 17, 2024Jul 8, 202422nd Century Reduces Debt by Additional $1.5 Million via Payment from GVBJun 25, 202422nd Century Announces Resignation of John Miller as President of TobaccoMay 30, 202422nd Century Group Reports First Quarter 2024 Financial ResultsMay 15, 202422nd Century Eliminates an Additional $2.3 Million of DebtMay 13, 202422nd Century Group to Participate in the Aegis Capital Virtual Conference on May 9, 2024May 8, 202422nd Century Group (XXII) to Announce First Quarter 2024 Results on May 15, 2024May 7, 202422nd Century Eliminates $5.2 Million of Debt in Above-Market Equity TransactionApr 30, 2024Keynotes, Educational Panels and 96 Companies to Present at the Planet MicroCap Showcase: VEGAS on April 30 – May 2, 2024 at the Paris Hotel & Casino in Las Vegas, NVApr 29, 2024

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MANAGEMENT TEAM

Larry Firestone

Chief Executive Officer

Mr. Firestone brings over 40 years of enterprise, operations, and financial management experience in both public and private companies, including tenures as CEO, CFO and COO across multiple industry sectors. Mr. Firestone most recently served as Chief Financial Officer of Oakland Manager, a privately-held purveyor of cannabis with both retail and wholesale market penetration, and as Chairman of FirePower Technology, a privately held manufacturer of ATX power supplies for the IT and instrumentation markets. In the public company sector, Mr. Firestone has served as Chief Executive Officer of Eastside Distilling, Inc. (NASDAQ: EAST), Chief Executive Officer of Qualstar Corporation (NASDAQ: QBAK), Chief Financial Officer of Advanced Energy Industries (NASDAQ: AEIS), and Chief Financial Officer of Applied Films Corporation (NASDAQ: AFCO). He has served on numerous boards, including those of Eastside Distilling, Qualstar, CVD Equipment Corporation (NASDAQ: CVD), Amtech Systems, Inc. (NASDAQ: ASYS) and HyperSpace Communications, Inc. (NYSE: HYPR). Mr. Firestone received his Bachelor of Science in Business Administration with a concentration in Accounting from Slippery Rock University of Pennsylvania.

Robert Manfredonia

Executive Vice President of Sales and Marketing

Mr. Manfredonia brings 30 years of experience in regulated consumer products sales and marketing experience in the adult beverage space both wholesaler and direct brands across the spirits, wine and beer categories. His experience brings a deep knowledge and comprehensive capabilities to expedite distribution, accelerate volume growth and build brand enterprise value. Along with large entities, he has developed start-up brands with channel segment strategic planning and development, tactical coordination and implementation, account programming, shelf standards and retail execution disciplines, with a particular interest in corporate retail channel development for new to market, early stage and mid-sized brands. He previously served as Senior Vice President of Retail Corporate Accounts for Bonavita Beverage Group since 2019, and in the same role at Eastside Distilling from 2015-2019. Prior to entering the beverage business with Miller Brewing Company in 1999, he was a chain manager at Southern Glazer’s Wine and Spirits and proudly served in the United States Air Force.

Scott Marion

Vice President of Operations

Scott joined 22nd Century Group in February 2023 as the VP of Operations. Prior to joining 22nd Century Group Scott was the head Manufacturing and Supply Chain Finance at Reynolds American – the United States 2nd largest tobacco company. Scott has over twenty years’ experience in the tobacco industry where he has held various management roles in finance working closely with manufacturing operations. Scott brings a unique blend of manufacturing and supply chain leadership grounded in lean manufacturing coupled with an understanding of the financial metrics driving the organization. He holds a Bachelor of Science Degree in Business Administration from High Point University and an MBA from Wake Forest University.

Dan Otto

Chief Financial Officer

Daniel Otto was appointed our Chief Financial Officer in April 2024. He previously served as the Company’s Corporate Controller since July 2022 where he was responsible for accounting, SEC external reporting, treasury, tax and other finance management functions. Prior to joining the Company, Mr. Otto served as a Senior Manager at Deloitte & Touche LLP providing audit and accounting advisory services to public companies, ranging from small to large cap issuers, for over ten years. Mr. Otto is also a certified public accountant and received his Master’s in Business Administration and B.A. in Accounting from Niagara University.

SINCERELY,

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CTXR has $17.9 million in cash reserves as of June 2024

Citius is transforming from a development-stage biopharma into a commercial-stage organization, following the approval of its breakthrough cancer treatment

READ THE INVESTOR PRESENTATION HERE

________________________

‍Hello Everyone,

We have a new profile for you to research immediately before we head into the weekend.

This is a company that we have profiled several times in the past on this newsletter but it has been over a year since we last took a look at this one.

Pull up CTXR immediately.

In August 2024, Citius gained FDA approval for an innovative targeted immunotherapy to treat Cutaneous T-cell Lymphoma (CTCL), a rare and challenging form of cancer. This treatment not only targets a critical unmet need, but it has also been included in the National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines, solidifying its place as a recommended treatment option. The NCCN Guidelines are widely regarded as the gold standard for clinical decision-making in oncology, and this inclusion paves the way for broader adoption and reimbursement by payors, including Medicare and Medicaid (CMS).  ^(8)(9)(10)

Citius isn’t stopping there. The company’s late-stage pipeline includes groundbreaking therapies aimed at tackling critical issues in oncology, infectious diseases, and gastrointestinal disorders. This diversified pipeline provides Citius with multiple chances to drive near-term growth and long-term success. Recently, the company achieved critical milestones, including the successful completion of a Phase 3 trial for one of its key therapies. This progress highlights the company’s focus on delivering life-saving treatments that address high-need areas of patient care.  ^(8)(9)(10)

Why Should You Pay Attention?

Here’s why Citius Pharmaceuticals (Nasdaq: CTXR) represents a compelling company for market enthusiast:

FDA-approved treatment for a rare and aggressive form of cancer, backed by significant clinical data and now included in NCCN Guidelines. This boosts its profile and adoption among healthcare professionals. ^(8)(9)(10)

Diversified pipeline that spans oncology, infectious diseases, and gastrointestinal care. With multiple late-stage candidates, Citius has numerous catalysts on the horizon, increasing its growth potential. ^(8)(9)(10)

65% forecasted earnings growth per year. Analysts are watching closely, and this consistent growth projection makes Citius one of the more attractive options in the biopharma space. ⁽⁶⁾

Strong technical momentum. The company’s technical analysis points to positive growth trends, signaling strong market interest and potential for further gains as its products reach the market. ^(8)(9)(10)

Financial Health and Leadership Strength

Citius Pharmaceuticals is financially strong, with $17.9 million in cash reserves as of June 2024. This financial cushion provides the company with the flexibility to continue funding in its late-stage pipeline while also supporting its new product launch. Additionally, Citius completed a $15 million capital raise earlier in the year, further extending its operational runway through December 2024. This ensures that Citius has the resources necessary to advance its development programs and prepare for the commercialization of its FDA-approved therapy. ⁽¹¹⁾

Moreover, Citius is led by a seasoned management team with deep experience in biopharma development and commercialization. The leadership’s focus on value creation and operational efficiency has already delivered tangible results, as evidenced by the company’s multiple milestones in 2024. This strong track record gives us confidence in Citius’ ability to execute its growth strategy successfully.  ^{(8)(9)(10)(11)}

A Transformative Company

Citius Pharmaceuticals (Nasdaq: CTXR) is poised to make a major impact in the critical care market. Its innovative therapies, supported by regulatory approvals and favorable clinical data, position the company at the forefront of multi-billion-dollar markets in oncology, infectious diseases, and gastrointestinal treatments. The company’s commitment to advancing life-saving therapies is underscored by its drive to fill unmet medical needs in high-impact areas. ^(8)(9)(10)

This is an exciting time for Citius. The company is transforming from a development-stage biopharma into a commercial-stage organization, following the approval of its breakthrough cancer treatment. This shift represents a significant turning point, not only for the company but for the market as well. Don’t miss the chance to get in on a company with a diversified portfolio, strong financial backing, and a leadership team that’s laser-focused on long-term growth. ^(8)(9)(10)

Pull it up and research it immediately as we head into next week.

Watch for updates!

‍

NEWS

Citius Pharmaceuticals to Participate in the H.C. Wainwright 26th Annual Global Investment ConferenceSep 5, 2024Citius Pharmaceuticals, Inc. and Citius Oncology, Inc. Announce LYMPHIR™ (Denileukin Diftitox-cxdl) Added to National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines in OncologySep 5, 2024Sidoti Events, LLC’s Virtual August Micro-Cap ConferenceAug 13, 2024Citius Pharmaceuticals, Inc. Reports Fiscal Third Quarter 2024 Financial Results and Provides Business UpdateAug 12, 2024Citius Pharmaceuticals Completes Merger of Subsidiary with TenX Keane to form Citius Oncology, Inc.Aug 12, 2024Citius Pharmaceuticals to Host Investor Call to Discuss Recent and Upcoming DevelopmentsAug 12, 2024TenX Keane Acquisition Addresses Trading Halt, Continues Towards Closing of Business Combination, and Provides Market UpdateAug 9, 2024Citius Pharmaceuticals Receives FDA Approval for LYMPHIR™ (denileukin diftitox-cxdl) Immunotherapy for the Treatment of Adults with Relapsed or Refractory Cutaneous T-Cell LymphomaAug 8, 2024Citius Pharmaceuticals To Receive 65 Million Shares Of TenX Keane For Merger Of Citius OncologyAug 6, 2024Citius Pharmaceuticals Announces TenX Keane Shareholder Approval of Merger with Citius Oncology, Inc.Aug 5, 2024

• TenX Keane Acquisition Shareholders Approve Previously Announced Merger to Form Citius Oncology, Inc., a Publicly Listed Subsidiary of Citius Pharmaceuticals
• Aug 5, 2024
• Citius Pharmaceuticals Nears Market Breakthrough With Two Leading Products
• Jul 30, 2024
• This Pharma Company Is Preparing To Launch Its Lead Candidate
• Jul 25, 2024
• Citius Pharmaceuticals Details Near-Term Milestones for Late-Stage Candidates
• Jul 10, 2024
• Sidoti Events, LLC’s Virtual June Small-Cap Conference
• Jun 11, 2024
• Citius Pharmaceuticals to Host Investor Call to Discuss Topline Results of Phase 3 Trial of Mino-Lok Antibiotic Lock Solution
• May 29, 2024
• Citius Pharmaceuticals Achieves Primary and Secondary Endpoints in Phase 3 Trial of Mino-Lok Antibiotic Lock Solution
• May 21, 2024
• Citius Pharmaceuticals, Inc. Reports Fiscal Second Quarter 2024 Financial Results and Provides Business Update
• May 14, 2024
• Citius Pharmaceuticals to Participate in Upcoming EF Hutton and H.C. Wainwright Investor Conferences
• May 10, 2024
• Citius Pharmaceuticals Announces $15 Million Registered Direct Offering
• Apr 26, 2024

MANAGEMENT TEAM

Leonard MazurCo-Founder, CEO and Chairman of the Board of Directors

Mr. Mazur is an accomplished entrepreneur and pharmaceutical industry executive withnotable success in founding and building multiple healthcare companies and creating valueand returns for investors throughout his five-decade career. Mr. Mazur was the co-founderand Chairman of Leonard-Meron Biosciences, Inc. prior to its merger with Citius in March2016. He was previously the co-founder and Vice Chairman of Akrimax Pharmaceuticals, LLC,which specialized in cardiovascular and general pharmaceutical products. From 2005 to2012, Mr. Mazur co-founded and served as the Chief Operating Officer of TriaxPharmaceuticals LLC, a specialty pharmaceutical company producing prescriptiondermatological drugs. As founder and Chief Executive Officer of Genesis Pharmaceuticals,Inc., a dermatological products company that marketed its products throughdermatologists’ offices and co-promoted products for major pharmaceutical companies, hesuccessfully negotiated the company’s sale in 2003 to Pierre Fabre, a leading globalpharmaceutical company. Mr. Mazur has extensive sales, marketing, and businessdevelopment experience from previous tenures at Medicis Pharmaceutical Corporation, ICNPharmaceuticals, Inc., Knoll Pharma (a division of BASF), and Cooper Laboratories, Inc. Mr.Mazur was born in Ansbach, Germany, and emigrated with his family to the U.S. at an earlyage. Mr. Mazur served in the U.S. Marine Corps Reserve while studying at Temple Universityfor his undergraduate degree. He earned his MBA from Temple University’s Fox School ofBusiness in 1975. Mr. Mazur is a recipient of the Ellis Island Medal of Honor presentedannually to those who immigrated to the United States during the Ellis Island era and haveshown an outstanding commitment to serving the United States either professionally,culturally, or civically.

Myron HolubiakCo-Founder, Executive Vice Chairman

Mr. Holubiak has extensive experience in managing and leading both large and emergingpharmaceutical and life sciences companies. Mr. Holubiak was co-founder, director and CEOof Leonard-Meron Biosciences, Inc. prior to its merger with Citius in March 2016. Mr.Holubiak was the President of Roche Laboratories, Inc., a premier multinational research-based pharmaceutical company, from 1998 to 2001. As President of Roche, Mr. Holubiakhelped transform Roche Labs into a leading antibiotic and biotechnology company. Beforebeing named President, he held sales and marketing positions at Roche during his 19-yeartenure. Earlier, Mr. Holubiak founded Emron, Inc., a health economics and managed careconsulting company, and helped to create the Academy of Managed Care Pharmacy(AMCP). He was also a director of Bioscrip, Inc., a national home infusion company, servingas its Chairman of the Board from 2012 through 2016. Since 2010, Mr. Holubiak has servedas a member of the Board of Directors of Assembly Biosciences, Inc. and its predecessor,Ventrus Biosciences, Inc., and is a trustee of the Academy of Managed Care PharmacyFoundation. Mr. Holubiak received a BS in molecular biology and biophysics from theUniversity of Pittsburgh. He received advanced business training from Harvard BusinessSchool and the University of London, as well as advanced training in health economics fromthe University of York’s Centre for Health Economics.

Jaime BartushakChief Financial Officer & Chief Business Officer

Mr. Bartushak is an experienced finance and operations professional for early-stagepharmaceutical companies, and has over 20 years of corporate finance, businessdevelopment, M&A, restructuring, capital formation, and strategic planning expertise. Mr.Bartushak is a founder of Leonard-Meron Biosciences, and, as CFO, was instrumental inobtaining initial investment capital for its start-up in 2014. Earlier, Mr. Bartushak helped leadthe sale of PreCision Dermatology, Inc. to Valeant Pharmaceuticals International, Inc., andbefore that, he led the financial efforts for the successful sale of Triax Pharmaceuticals toPreCision Dermatology. Mr. Bartushak holds a Master of Science and BS from the NewJersey Institute of Technology.

Myron S. Czuczman, MDChief Medical Officer and EVP

Dr. Czuczman is an experienced physician-scientist, academic oncologist, and pharmaexecutive with decades of experience in strategic design, implementation, and oversight forthe global development of novel therapeutics for hematologic malignancies. Dr. Czuczmanjoined Citius from Celgene where he was Vice President, Global Clinical Research andDevelopment, Therapeutic Area Head of Lymphoma/CLL. In this role, Dr. Czuczmanmanaged a global team of physicians and scientists responsible for cross-functionaldevelopment of compounds from proof-of-principle to worldwide registration. Prior to hiscareer in pharma, Dr. Czuczman practiced medicine for over two decades at Roswell ParkCancer Institute, an NCI-designated comprehensive cancer center in Buffalo, NY, where heserved as chief of the Lymphoma/Myeloma Service and head of the Lymphoma TranslationalResearch Laboratory. In addition to his extensive publications record, membership andleadership roles on national and international research organizations, and consulting andadvisory to dozens of pharma companies, Dr. Czuczman also attained the positions oftenured Professor of Medicine at the State University of New York at Buffalo School ofMedicine and Biomedical Sciences and Professor of Oncology at Roswell ParkComprehensive Cancer Center. Dr. Czuczman received his medical degree from thePennsylvania State University College of Medicine after graduating magna cum laude inbiochemistry from the University of Pittsburgh. He completed his Internal Medicineresidency training at Weill Cornell North Shore University/MSKCC Program, followed byMedical Oncology/Hematology fellowship training at Memorial Sloan-Kettering CancerCenter in New York City.

Gary F. TalaricoEVP, Operations

Mr. Talarico has served as EVP, Operations since March 2016. Mr. Talarico has successfullybuilt and led all commercial activities for a number of start-up companies. Most recently, hewas a founder, partner and Executive Vice President of Leonard-Meron Biosciences, Inc.; hewas instrumental in acquiring its lead product. Previously, Mr. Talarico served as Senior VicePresident of Triax Pharmaceuticals, from its founding to the sale of its assets. Mr. Talaricowas a founder and Executive Vice President of Sales and Marketing for ReliantPharmaceuticals, LLC; Reliant was later sold to GlaxoSmithKline plc. Before Reliant, he wasExecutive Vice President of Business Development for Ventiv Health. His earlier experienceincluded tenures as Vice President of Sales for Medicis Pharmaceutical Corporation at itsstart-up, and Director of Sales at ICN Pharmaceuticals, Inc. Mr. Talarico is a graduate ofLewis University.

Jay WadekarSVP, Business Strategy

Mr. Wadekar has been associated with Citius since its inception. Prior to Citius, he lead theclinical program at Ischemix, Inc., a company developing novel therapies for cardiovascularconditions. Mr. Wadekar has more than thirty years of experience in areas of finance,corporate strategy, sales and senior leadership in the healthcare field. Mr. Wadekar has heldnumerous executive level positions throughout his career in biotechnology andpharmaceutical industries including Chairman and CEO of Able Laboratories, Inc. Mostrecently he served as a strategic advisor to Camber Pharmaceuticals, Inc. where he wasinstrumental in building the executive team and establishing Camber’s Sales Operationssystems.

Kelly Creighton, PhDEVP, Chemistry, Manufacturing and Controls

Kelly joined Citius from Clinipace Worldwide, a leading global contract researchorganization, where he served as Vice President of Regulatory and Strategic Development.As a senior-level regulatory affairs and quality assurance expert with nearly two decades ofexperience in biopharmaceuticals, pharmaceuticals, advanced therapies, including gene andcellular therapies, and combination products, he has provided comprehensive regulatorystrategy assessments, development plans and regulatory dossiers for programs across awide range of therapeutic areas. As head of a global CMC regulatory activities forinvestigational products, he has led teams throughout North America, Europe and the AsiaPacific region overseeing submissions and negotiations with regulatory authorities, as wellas biosafety and environmental agencies in each of these regions. Kelly has directed theimplementation of multiple CMC development plans including: contract manufacturingorganization selection, product manufacturing, analytical development, productcharacterization, specification establishment, container closure systems and stabilityrequirements. Additionally, his substantial product development experience extends tobiologics/biosimilars, small molecule, gene and cellular therapies, cancer immunotherapies,live oncolytic biotherapeutics, and microbiome therapies. Twenty products for which heprepared regulatory marketing applications (NDAs, ANDAs, and BLAs) were approved in theUS and EU. Additionally, he has performed internal and external quality assurance audits fordrug products, drug substance, and tissue and cell therapy products. Kelly earned his BSfrom New Mexico State University and his MSc and PhD from the University of Nebraska.

Alan Lader, PhDSVP, Head of Clinical Operations and Quality Assurance

Dr. Lader has over 25 years of experience in medical research. Prior to joining Citius, Dr.Lader was the Director of Clinical Operations for Ischemix, Inc. Dr. Lader was an Instructor inMedicine at Harvard Medical School and Brigham and Women’s Hospital, where he taughtIntegrated Human Physiology, and was Principal Investigator for NIH-funded studies inmechanisms of lung cancer metastasis. Dr. Lader has authored over 20 publications in peer-reviewed journals, and has presented more than 20 abstracts at scientific meetings. Hereceived his PhD from the University of South Carolina School of Medicine. He received anMS degree from Rensselaer Polytechnic Institute in Biomedical Engineering and a BS degreein Bioengineering from Syracuse University.

Ilanit AllenVP, Investor Relations

Ms. Allen has more than 20 years of experience in corporate communications, investorrelations, strategy and investment banking. Since 2014, Ms. Allen has provided investorrelations counsel to more than two dozen private and public life science companies.Previously, she advised executives across a broad spectrum of industries and growth stages,including technology startups and Fortune 500 financial institutions. Ilanit began her careeras an investment banking analyst at SG Cowen with a focus on mergers and acquisitions.Ms. Allen holds an MBA from Harvard Business School, a Bachelor of Science degree inFinance from The Wharton School, and a Bachelor of Arts degree in International Relationsfrom the University of Pennsylvania.

John WestmanVP, Project Management

John Westman has led commercial efforts—including strategy, sales management,marketing, business development, customer service and strategic partnerships—resulting inimproved business results for market-leading and start-up healthcare companies. Priorpositions include co-founder and Executive Vice President of Novellus, Inc., GeneralManager and Vice President of Marketing and Sales for PrecisionMD, NxStage, Fresenius,PharMetrics and Decision Resources Pharmaceutical. John led U.S. and global marketing andsales training at Baxter Healthcare’s Renal division and started his career at Bain Consulting/Baxter consulting firm. John is a Fulbright Scholar who received a B.A. in French and Englishfrom Colgate, an M.A. in international relations from the University of Wisconsin, and anMBA in marketing and finance from the Kellogg Graduate School of Management atNorthwestern. John is on the faculty at Harvard and Boston College.

Paul SowyrdaVP, Business Development & Market Intelligence

Paul Sowyrda is a seasoned Biopharmaceutical leader and inventor with over 25 years ofexperience helping to build and lead development stage and commercial companies. He isco-founder of Novellus, Inc. which was sold to Brooklyn ImmunoTherapeutics, Inc. in July2021, and served as its Executive Vice President. Mr. Sowyrda held previous positions as VicePresident of Drug Development at CIBA, and Vice President of Development and Marketingat Dusa Pharmaceuticals, which was acquired by Sun Pharma. Mr. Sowyrda is an inventorand holds more than 15 patents, He has served on the Board of Directors for the Society ofConcurrent Product Development and is a member of the American Academy ofDermatology and International Society of Dermatologic Surgery. He earned his B.S. and M.S.from the University of Notre Dame, his MBA from Babson College, and completed the MITSloan School of Management Senior Executives Program.

SINCERELY,

DISCLAIMER

THIS WEBSITE/NEWSLETTER IS OWNED SUBSIDIARY BY DEDICATED INVESTORS, LLC.

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Sources:

1. https://finance.yahoo.com/quote/CTXR/

2. https://finance.yahoo.com/quote/CTXR/history/

3. https://finance.yahoo.com/quote/CTXR/key-statistics/

4. bit.ly/4epZeXj

5. bit.ly/3XN4q1o

6. bit.ly/3XRl7sH

7. https://citiuspharma.com/home/default.aspx

8. bit.ly/3BdHpvO

9. bit.ly/4gtKUhJ

10. https://finance.yahoo.com/news/citius-pharmaceuticals-inc-citius-oncology-123000058.html

11. https://finance.yahoo.com/news/citius-pharmaceuticals-inc-reports-fiscal-212800540.html