Harte Hanks (HHS) – New Credit Facility Is Another Big Step Forward

Thursday, December 23, 2021

Harte Hanks (HHS)
New Credit Facility Is Another Big Step Forward

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    New credit facility. On December 21, 2021, the company announced a $25 million secured revolving credit agreement with Texas Capital Bank. According to the company’s press release, the new line of credit will be used to repay existing debt, invest in growth initiatives, and will be a source of working capital. The credit line is secured by certain subsidiaries of Harte Hanks.

    Expanded credit, greater flexibility.  The $25 million line of credit is a significant increase from the company’s existing line of $15 million. Moreover, the credit agreement is for three years, which is longer than the company’s previous agreements. We believe the expansion of the credit line, as well as the agreement’s extended time frame, will allow the company greater financial flexibility …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Why a Less Dovish Fed Doesn’t Translate into a Hawkish Fed


Image Credit: Nigam Machchhar, (Pexels)

Facts About the Fed Being Hawkish

 

In my reading last week, I came across a number of articles suggesting the US Federal Reserve (The Fed) has done a 180-degree turn to a more “hawkish” stance. This would mean that they have become inflation fighters.  As a reformed “bond guy” that participated in the Treasury’s first TIPS auction, I can’t help but mourn for the old bond market, the one that seemed to trade largely on inflation expectations rather than on kitchen sink monetary resolve. Below discusses why the Fed may actually be more “Dovish” than ever before in history with inflation above 4%. The ramifications of this have implications for the US Stock and Bond markets going into the New Year.

With year-over-year U.S. inflation running at 6.8% (CPI-U) and the Fed inflation projection for 2022 at 2.6% to 2.7%, one would expect 30-year Treasuries to be yielding higher than the annual inflation rate. Instead, it’s running 500 basis points (bp) below the pace, and 50 bp below the FOMC’s seemingly optimistic projections. Does the bond market know something that undermines the most basic tenets of interest rate movement? Or, is something else impacting bond prices?

Source: https://home.treasury.gov/

  

Background

During the early summer of 2020, in response to pandemic-related stress on the economy, the Fed introduced yield curve control as one of their tools. The way this seldom-used tool works is the Fed enters the open market and buys bonds across a large period of the yield curve in order to prevent rates from rising above a pre-set level. In this way, if market demand would tend to let rates rise, the Fed is there to bid prices up (keep rates down). If bond prices (yields) of targeted maturities remain above the pre-set level, the central bank does nothing. The Fed, in this way, provides unlimited demand should bonds trade-off.

Additionally, the Fed has been implementing quantitative easing (QE) since March 2020.  The result is the Fed now holds $5.64 trillion in Treasuries out of the $22.3 trillion available U.S. Treasury debt.

Along with Treasuries the Fed also holds $2.63 trillion in government-guaranteed Mortgage-Backed Securities (MBS). These securities, which are also backed by the full faith and credit of the US, trade at a small spread to similar duration Treasuries.  

When QE got underway last year, the Fed purchased roughly $110 billion a month in MBS: $40 billion a month in new money and $70 billion to replace principal pay downs. Unlike other market participants, the Fed does not trade these securities, they get put away until they pay off. Investors need not worry if the extremely large buyer may decide to sell one day. They won’t.

Out of the $5.64 trillion of Treasuries held by the Fed, only $326 billion mature within a year. The remaining $5.31 trillion impact longer rates, in fact, $1.02 trillion mature in 5-10 years, and $1.34 trillion mature in over 10 years. With over two trillion in debt securities pulled from the five years or longer end of the market, it now holds long-dated Treasury debt equivalent to 10% of U.S. GDP.

 

Is
Tapering Tightening?

While the Fed now regularly addresses inflation in its comments and intentionally avoids the word “transitory” when referring to it, there is very little economic brake tapping being done from a monetary policy level. Instead, it continues to suppress rates by buying bonds. While the Fed is not dropping as much money into the bond markets as they had been to control yields, they are still purchasing massive amounts. Each month they are tapering their purchases by $20 billion. But still, last month the Fed took down $120 billion in government-backed bonds – $80 billion in Treasury debt and $40 billion in mortgage-backed securities. These are now securities the market doesn’t have to absorb, which keeps rates down, but it is also stimulative as these securities were purchased on the open market.  

Bond purchases are monetary policy tools used to ease rates and stimulate the economy; they are a tool used to tighten. The purchases repress rates along the entire curve and serve to reduce borrowing costs spread to Treasuries that would include everything from mortgage borrowing to junk bonds.

Take-Away

If the Fed has become an inflation fighter and is now hawkish, the stock market, particularly companies that rely on borrowing, have a lot to be concerned about. Interest rates across the entire curve have been held down for a long time. By historical measures, interest rates should be paying inflation plus a premium for uncertainty. A rapid return to historical norms would be devastating for stocks. More directly, it would be devastating for bonds.

The Federal Reserve Act mandates that the Fed conduct monetary policy “so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.” Allowing rates to seek their natural level any time soon would impact the markets, which is not mentioned as a mandate. However, “maximum employment” is one of the goals of monetary policy. Allowing the markets to sink would likely reduce employment greatly. With this, the Fed is likely to remain accommodative using all the tools necessary to maximize employment.

As long as rates are low, savers will need to search for ways to protect their money from inflation. This could keep the stock market on its upward trend.

  

Suggested Reading:



How Difficult Will it be for the Fed to Control Inflation?



Inflation Seems Persistent, What Now?





Yield Curve Control, Stock Prices, and Trust (June 2020)



The Fed is Clear that they Intend to Hold Rates Down

 

Sources:

https://www.newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/treasury-securities/treasury-securities-operational-details

https://www.bls.gov/opub/ted/2021/consumer-prices-up-6-8-percent-for-year-ended-november-2021.htm

https://www.usinflationcalculator.com/inflation/current-inflation-rates/

https://www.sifma.org/resources/research/us-treasury-securities-statistics/

https://www.statista.com/topics/6441/quantitative-easing-in-the-us/#:~:text=The%20Federal%20Reserve%20announced%20on,as%20quantitative%20easing%20(QE)

 

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Why Small Cap Stocks May Outperform Large Caps in 2022


Image Credit: 3126 Fishery (Flickr)

Small-Cap Stocks Could Enter the New Year with a Large Tailwind

 

As measured by the S&P 600, small-cap stocks are trading cheaper than they have since the early 2000s during the burst of the dot.com bubble – at least when compared to large-cap stocks. This could indicate that the investment trend to follow momentum rather than value is providing investors many overlooked opportunities in stocks with lower capitalizations.

The S&P Small-Cap 600 is an index that measures the small-cap segment of U.S. equities. When compared to the more often quoted S&P 500, which measures large-cap companies, the large-cap index stocks are on average far more expensive.  As proof, the S&P 600 price-to-earnings ratio, which was on par five years ago, is now 68% of the S&P 500. The last time the gap had been this wide was 20 years ago, as the tech bubble burst putting small companies out of favor.

 

Source: FactSet

 

As shown in the chart above, the S&P 600 index is now priced at 14.5 times expected earnings over the next year. The valuation is well below historical norms and 21.3 times the large-cap S&P 500 index, which includes FAANG stocks among others.

With smaller U.S. listed companies are priced at a steep discount to larger ones, the small-cap sector could still be considered inexpensive despite the rally they both experienced since April 2020. This disparity begs the question, “when will fund managers with full discretion look for better values?” The answer may be “soon.” It could occur after year-end window dressing subsides and equity managers are less prone to need to show the year’s biggest winners in their holdings.

The other question is, “when will the gap shrink to a more historical norm?” The answer may be, early in the first quarter of next year. The reason is this. Many fund managers are inclined toward holding stocks that have performed well during the year to show those holdings on their year-end statements. This “window dressing” is not at all uncommon in the fund management industry. Once these securities are reported on statements as part of a portfolio’s holdings (after 12/31), the fund manager may feel freer to invest using basic fundamentals and less on appearances.

 

Take-Away

The Price Earnings disparity between large-cap stocks and small-cap stocks (as measured by the S&P indexes) is glaring. The trend toward chasing stocks that have spiked up over the past 18 months, causing them to move even higher, will end one day. That day may be soon as the new year provides a clean slate for fund managers to prove themselves. The playbook that works next year will likely be different from the Covid related trading that worked this year. In the meantime, shares of companies that have done well will look appealing on a fund managers’ year-end holdings reports.

Channelchek is an investor resource for small and microcap stocks. No-cost registration allows users access to premium research and provides daily information straight to their inbox.

Sources:

https://www.macrotrends.net/2577/sp-500-pe-ratio-price-to-earnings-chart

https://www.ft.com/content/a894adff-7ca2-4fdc-bc85-c43bc2c53491

https://www.spglobal.com/spdji/en/indices/equity/sp-600/#overview

 

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Staci Bogue-Buchholz Joins Gevo as Site and Process Optimization Leader



Staci Bogue-Buchholz Joins Gevo as Site and Process Optimization Leader

Research, News, and Market Data on Gevo

 

ENGLEWOOD, Colo., Dec. 22, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ:GEVO), announced today that Staci Bogue-Buchholz has joined Gevo as Site and Process Optimization Leader at the Luverne, Minnesota facility. Ms. Bogue-Buchholz brings over 20 years of experience in plant management, strategic planning, major capital project leadership, and technical operations. Most recently, she acted as Head of Engineering at VBTC Holdings. She also previously held leadership positions with the Archer-Daniels-Midland Company, including serving as Plant Manager for their Decatur Protein Complex.

“We are thrilled to welcome Staci to the team,” said Dr. Paul Bloom, Chief Carbon Officer and Chief Innovation Officer. “She has considerable experience in global performance excellence, fermentation and process development, renewable chemical operations, and environmental management. Her expertise will help provide a path forward for Gevo’s operations in Luverne and Silsbee.”

“It’s exciting to work alongside the talented minds at Gevo,” said Ms. Bogue-Buchholz. “I look forward to assisting with the scale up aspects of new programs, in addition to providing strategic and technical support to the Carbon and Innovation team.”

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo also plans to take advantage of decarbonization via geological sequestration in the future. Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions.

Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build- out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the hiring of Staci Bogue-Buchholz, the attributes of Gevo’s products, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Gevo Investor and Media Contact

Heather L. Manuel

+1 720-418-0085

IR@gevo.com

Release – Staci Bogue-Buchholz Joins Gevo as Site and Process Optimization Leader



Staci Bogue-Buchholz Joins Gevo as Site and Process Optimization Leader

Research, News, and Market Data on Gevo

 

ENGLEWOOD, Colo., Dec. 22, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ:GEVO), announced today that Staci Bogue-Buchholz has joined Gevo as Site and Process Optimization Leader at the Luverne, Minnesota facility. Ms. Bogue-Buchholz brings over 20 years of experience in plant management, strategic planning, major capital project leadership, and technical operations. Most recently, she acted as Head of Engineering at VBTC Holdings. She also previously held leadership positions with the Archer-Daniels-Midland Company, including serving as Plant Manager for their Decatur Protein Complex.

“We are thrilled to welcome Staci to the team,” said Dr. Paul Bloom, Chief Carbon Officer and Chief Innovation Officer. “She has considerable experience in global performance excellence, fermentation and process development, renewable chemical operations, and environmental management. Her expertise will help provide a path forward for Gevo’s operations in Luverne and Silsbee.”

“It’s exciting to work alongside the talented minds at Gevo,” said Ms. Bogue-Buchholz. “I look forward to assisting with the scale up aspects of new programs, in addition to providing strategic and technical support to the Carbon and Innovation team.”

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo also plans to take advantage of decarbonization via geological sequestration in the future. Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions.

Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build- out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the hiring of Staci Bogue-Buchholz, the attributes of Gevo’s products, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Gevo Investor and Media Contact

Heather L. Manuel

+1 720-418-0085

IR@gevo.com

Pyxis Tankers (PXS) – Closing of MR Acquisition Enhances Fleet Profile

Wednesday, December 22, 2021

Pyxis Tankers (PXS)
Closing of MR Acquisition Enhances Fleet Profile

Pyxis Tankers Inc is a United States-based international maritime transportation company which focuses on the product tanker sector. It owns a fleet which comprises of double hull product tankers employed under a mix of short- and medium-term time charters and spot charters. The fleet owned by the company includes Pyxis Epsilon, Pyxis Theta, Pyxis Malou, Pyxis Delta, Northsea Alpha, and Northsea Beta. Each of the vessels in the fleet is capable of transporting refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel, fuel oil, and other liquid bulk items, such as vegetable oils and organic chemicals.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Closing of acquisition for $32 million enhances MR fleet. The acquisition of the 2017-built Lamda was financed with a new loan of $21.7 million, a promissory note of $3.0 million, equity of $3.0 million and cash of $4.3 million. After completing a survey under way at a cost of ~$1.0 million, the Lamda will be available in January.

    Pro forma debt increases to $84.1 million.  Including refinancing Malou debt of $7.3 million, we estimate that total debt will approximate $84.1 million, including related party notes of $6.0 million. Preferred stock remains $11.2 million and cash drops into the $5.3 million range in 4Q2021 …



This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Cocrystal Pharma’s COVID-19 Oral and Intranasal/Pulmonary Protease Inhibitors Exhibit Powerful In Vitro Potency Against the SARS-CoV-2 Omicron Variant



Cocrystal Pharma’s COVID-19 Oral and Intranasal/Pulmonary Protease Inhibitors Exhibit Powerful In Vitro Potency Against the SARS-CoV-2 Omicron Variant

Research, News, and Market Data on Cocrystal Pharma

 

Antiviral activity now confirmed against SARS-CoV-2 and all variants of concern
including Omicron, Delta, Alpha, Beta and Gamma 

BOTHELL, Wash., Dec. 22, 2021 (GLOBE NEWSWIRE) — Cocrystal Pharma, Inc. (Nasdaq: COCP) (“Cocrystal” or the “Company”) announces that in vitro studies demonstrate its oral and intranasal/pulmonary SARS-CoV-2 main protease inhibitors exhibit antiviral potency against the Omicron variant. The Company earlier confirmed that its protease inhibitors demonstrated broad-spectrum antiviral activity against SARS-CoV-2 and all major previously identified variants including Delta, Alpha, Beta and Gamma. Cocrystal expects to initiate Phase 1 clinical studies with its COVID-19 intranasal/pulmonary protease inhibitor CDI-45205 and an oral COVID-19 protease inhibitor as rapidly as possible.

To confirm the antiviral activity of its protease inhibitors against SARS-CoV-2 Omicron variant, Cocrystal conducted an analysis of SARS-CoV-2 lineages covering all reported Omicron variant sequences including those from South Africa, Europe, Asia and North America, and identified one prevalent mutation in the SARS-CoV-2 main protease. Using its proprietary platform technology and assays, the Company further confirmed in vitro antiviral activity of its protease inhibitors against the Omicron variant.

“Our ability to develop highly sensitive in vitro assays and X-ray crystals within a month is particularly important to evaluate the broad-spectrum activity of our SARS-CoV-2 main protease inhibitors against a heavily mutated Omicron variant,” said Sam Lee, Ph.D., Cocrystal’s President and interim co-CEO. “Our protease inhibitors bind to a highly conserved region of the active site of the protease that is required for SARS-CoV-2 viral replication. We believe that, due to their novel mechanism of action, our protease inhibitors will be effective against newly emerging SARS-CoV-2 variants. We are also highly encouraged by promising safety profiles of our SARS-CoV-2 oral protease inhibitors from 7-day mouse oral dosing toxicity studies. Our goal is to rapidly advance two protease inhibitors into first-in-human studies as rapidly as possible.”

“Omicron has been identified as a variant of concern by both the U.S. Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO), and is spreading rapidly. Since being identified in the U.S. just three weeks ago, Omicron is now the dominant strain in the U.S. according to the CDC,” said James Martin, CFO and interim co-CEO. “Our protease inhibitors are being developed to show broad-spectrum activity against SARS-CoV-2 infections regardless of the variant, with the added feature of high barriers to viral resistance.”

CDI-45205 is one of three COVID-19 programs underway at Cocrystal. In the second COVID-19 program, the Company plans to begin a Phase 1 study also as rapidly as possible with an orally administered protease inhibitor. In the third COVID-19 program, Cocrystal is using its unique structure-based technology platform to discover replication inhibitors for oral administration.

About CDI-45205
CDI-45205 is among a group of protease inhibitors obtained by Cocrystal under an exclusive license agreement with Kansas State University Research Foundation (KSURF) in 2020. CDI-45205 and several analogs showed potent in vitro activity against the SARS-CoV-2 Delta (India/B.1.617.2), Gamma (Brazil/P.1), Alpha (United Kingdom/B.1.1.7) and Beta (South African/B.1.351) variants, surpassing the activity observed with the original Wuhan strain. CDI-45205 has also shown good bioavailability in mouse and rat pharmacokinetic studies via intraperitoneal injection, and no cytotoxicity against a variety of human cell lines. Preclinical research demonstrated a strong synergistic effect with the FDA-approved COVID-19 medicine remdesivir. Additionally, a proof-of-concept animal study demonstrated that daily injection of CDI-45205 exhibited favorable in vivo efficacy in mice infected with MERS-CoV-2.

About Cocrystal Pharma, Inc.
Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our goals of initiating Phase 1 clinical studies as rapidly as possible, our attempts to discover replication inhibitors for oral administration, and the potential efficacy of antiviral inhibitors against existing and new variants of COVID-19. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events. Some or all of the events anticipated by these forward-looking statements may not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to, the risks arising from supply chain disruptions on our ability to obtain products including raw materials and test animals as well as similar problems with our vendors and our current contract research organizations (CROs) and future CROs and contract manufacturing organizations , the ability of our CROs to recruit volunteers for, and to proceed with, clinical trials, the impact of the COVID-19 pandemic including new variants on the national and global economy, the duration of presently discovered COVID-19 variants and our ability to treat new variants, the cooperation of the FDA in accelerating development in our COVID-19 program, our collaboration partners’ technology and software performing as expected, the results of future preclinical and clinical trials, general risks arising from clinical trials, receipt of regulatory approvals, regulatory changes, and development of effective treatments and/or vaccines by competitors, including as part of the programs financed by the U.S. government. Further information on our risk factors is contained in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Contact:
LHA Investor Relations
Jody Cain
310-691-7100
jcain@lhai.com

Source: Cocrystal Pharma, Inc.

QuickChek – December 22, 2021



Staci Bogue-Buchholz Joins Gevo as Site and Process Optimization Leader

Gevo announced that Staci Bogue-Buchholz has joined Gevo as Site and Process Optimization Leader at the Luverne, Minnesota facility

Research, News & Market Data on Gevo

Watch recent presentation from Gevo



Cocrystal Pharma’s COVID-19 Oral and Intranasal/Pulmonary Protease Inhibitors Exhibit Powerful In Vitro Potency Against the SARS-CoV-2 Omicron Variant

Cocrystal Pharma announced that in vitro studies demonstrate its oral and intranasal/pulmonary SARS-CoV-2 main protease inhibitors exhibit antiviral potency against the Omicron variant

Research, News & Market Data on Cocrystal Pharma

Watch recent presentation from Cocrystal Pharma



Harte Hanks Secures a New $25 Million Revolving Line of Credit with Texas Capital Bank

Harte Hanks announced that the company has obtained a new $25 million secured revolving line of credit with Texas Capital Bank

Research, News & Market Data on Harte Hanks



Schwazze Closes Acquisition of Assets of Smoking Gun, Llc & Smoking Gun Land Company, Llc

Schwazze announced that it has closed the acquisition of the assets of Smoking Gun, LLC and Smoking Gun Land Company, LLC

Research, News & Market Data on Schwazze

Watch recent presentation from Schwazze

 

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Schwazze Closes Acquisition of Assets of Smoking Gun, LLC & Smoking Gun Land Company, LLC



Schwazze Closes Acquisition of Assets of Smoking Gun, LLC & Smoking Gun Land Company, LLC

Research, News, and Market Data on Schwazze

 

Acquisition Adds to Schwazze’s Retail Footprint in Colorado

DENVER, Dec. 21, 2021 /CNW/ – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), announced that it has closed the acquisition of the assets of Smoking Gun, LLC and Smoking Gun Land Company, LLC (“Smoking Gun”). Total consideration for the acquisition was $4 million in cash and 100,000 shares of Schwazze common stock upon closing.

The Smoking Gun dispensary and assets are located on a prime retail corner on Colorado Blvd. in Glendale, Colorado in the center of the greater Denver metro area. This acquisition is part of the Company’s continuing retail expansion plan in Colorado, and including the recently announced planned acquisitions in New Mexico (December 3, 2021), brings the total number of dispensaries to 32. 

Since April 2020, Schwazze acquired or announced the planned acquisition of 32 cannabis dispensaries, including the ten R. Greenleaf New Mexico dispensaries. In 2021, the Company also acquired or announced the planned acquisition of seven cultivation facilities, three in Colorado – SCG Holding LLC, Brow 2 LLC and Star Buds – and four licensed in New Mexico. The New Mexico acquisition will also add a manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the Company’s manufacturing plant, Purplebee’s in Colorado.  In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high- performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices. Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,” “continue,” “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses, including the acquisition described in this press release, and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, and (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Schwazze

Release – Harte Hanks Secures a New $25 Million Revolving Line of Credit with Texas Capital Bank



Harte Hanks Secures a New $25 Million Revolving Line of Credit with Texas Capital Bank

Research, News, and Market Data on Harte Hanks

 

CHELMSFORD, Mass.Dec. 21, 2021 /PRNewswire/ — Harte Hanks, Inc. (HHS) (the “Company”), a leading global customer experience company, today announced that the company has obtained a new $25 million secured revolving line of credit with Texas Capital Bank. This new loan agreement will enhance the Company’s strategic position and increase its financial flexibility.

The Company intends to use the credit facility for working capital, to repay existing debt and to create growth opportunities by investing in and enhancing our current client offerings. The credit facility will be guaranteed by various subsidiaries of the Company.

“We are pleased to work with Texas Capital Bank on this new credit facility that affords Harte Hanks additional financial flexibility as we continue to grow our business and enhance long-term shareholder value,” stated Brian Linscott, our Chief Executive Officer. Linscott went on to state, “This new facility is the next step in the Company’s strategy to ensure financial stability. The new facility eliminated the need for a third-party guarantee which demonstrates the success the Company has had in executing on its turnaround plan.”

About Harte Hanks:

Harte Hanks (HHS) is a leading global customer experience company whose mission is to partner with clients to provide them with CX strategy, data-driven analytics and actionable insights combined with seamless program execution to better understand, attract, and engage their customers.

Using its unparalleled resources and award-winning talent in the areas of Customer Care, Fulfillment and Logistics, and Marketing Services, Harte Hanks has a proven track record of driving results for some of the world’s premier brands including Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, Ford, FedEx, Midea, Sony and IBM among others. Headquartered in Austin, Texas, Harte Hanks has over 2,500 employees in offices across the Americas, Europe and Asia Pacific. For more information, visit hartehanks.com.

As used herein, “Harte Hanks” or “the Company” refers to Harte Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Harte Hanks’ logo and name are trademarks of Harte Hanks.

Note Regarding Forward-looking Statements

Our press release contains “forward-looking statements” within the meaning of U.S. federal securities laws. All such statements are qualified by this cautionary note, provided pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements other than historical facts are forward-looking and may be identified by words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “seeks,” “could,” “intends,” or words of similar meaning. These forward-looking statements are based on current information, expectations and estimates and involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to vary materially from what is expressed in or indicated by the forward-looking statements. In that event, our business, financial condition, results of operations or liquidity could be materially adversely affected and investors in our securities could lose part or all of their investments. These risks, uncertainties, assumptions and other factors include: (a) local, national and international economic and business conditions, including (i) the outbreak of diseases, such as the COVID-19 coronavirus and new variants thereof, which has curtailed travel to and from certain countries and geographic regions, created supply chain disruption and shortages, disrupted business operations and reduced consumer spending, (ii) market conditions that may adversely impact marketing expenditures and (iii) the impact of economic environments and competitive pressures on the financial condition, marketing expenditures and activities of our clients and prospects; (b) the demand for our products and services by clients and prospective clients, including (i) the willingness of existing clients to maintain or increase their spending on products and services that are or remain profitable for us, and (ii) our ability to predict changes in client needs and preferences; (c) economic and other business factors that impact the industry verticals we serve, including competition and consolidation of current and prospective clients, vendors and partners in these verticals; (d) our ability to manage and timely adjust our facilities, capacity, workforce and cost structure to effectively serve our clients; (e) our ability to improve our processes and to provide new products and services in a timely and cost-effective manner though development, license, partnership or acquisition; (f) our ability to protect our facilities against security breaches and other interruptions and to protect sensitive personal information of our clients and their customers; (g) our ability to respond to increasing concern, regulation and legal action over consumer privacy issues, including changing requirements for collection, processing and use of information; (h) the impact of privacy and other regulations, including restrictions on unsolicited marketing communications and other consumer protection laws; (i) fluctuations in fuel prices, paper prices, postal rates and postal delivery schedules; (j) the number of shares, if any, that we may repurchase in connection with our repurchase program; (k) unanticipated developments regarding litigation or other contingent liabilities; (l) our ability to complete anticipated divestitures and reorganizations, including cost-saving initiatives; (m) our ability to realize the expected tax refunds; (n) the realization of any benefits that may be derived from listing the Company’s common stock on Nasdaq and (o) other factors discussed from time to time in our filings with the Securities and Exchange Commission, including under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 which was filed on March 24, 2021. The forward-looking statements in this press release are made only as of the date hereof, and we undertake no obligation to update publicly any forward-looking statement, even if new information becomes available or other events occur in the future.

Investor Relations Contact:
Rob Fink
FNK IR
HRTH@fnkir.com
646-809-4048

SOURCE Harte Hanks, Inc.

Release – Schwazze Closes Acquisition of Assets of Smoking Gun LLC Smoking Gun Land Company LLC



Schwazze Closes Acquisition of Assets of Smoking Gun, LLC & Smoking Gun Land Company, LLC

Research, News, and Market Data on Schwazze

 

Acquisition Adds to Schwazze’s Retail Footprint in Colorado

DENVER, Dec. 21, 2021 /CNW/ – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), announced that it has closed the acquisition of the assets of Smoking Gun, LLC and Smoking Gun Land Company, LLC (“Smoking Gun”). Total consideration for the acquisition was $4 million in cash and 100,000 shares of Schwazze common stock upon closing.

The Smoking Gun dispensary and assets are located on a prime retail corner on Colorado Blvd. in Glendale, Colorado in the center of the greater Denver metro area. This acquisition is part of the Company’s continuing retail expansion plan in Colorado, and including the recently announced planned acquisitions in New Mexico (December 3, 2021), brings the total number of dispensaries to 32. 

Since April 2020, Schwazze acquired or announced the planned acquisition of 32 cannabis dispensaries, including the ten R. Greenleaf New Mexico dispensaries. In 2021, the Company also acquired or announced the planned acquisition of seven cultivation facilities, three in Colorado – SCG Holding LLC, Brow 2 LLC and Star Buds – and four licensed in New Mexico. The New Mexico acquisition will also add a manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the Company’s manufacturing plant, Purplebee’s in Colorado.  In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high- performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices. Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,” “continue,” “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses, including the acquisition described in this press release, and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, and (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Schwazze

Choosing Patient Treatment Using Machine Learning Models


Machine-Learning System Flags Remedies that Might Do More Harm than Good

 

Adam Zewe | MIT News
Office

Sepsis claims the lives of nearly 270,000 people in the U.S. each year. The unpredictable medical condition can progress rapidly, leading to a swift drop in blood pressure, tissue damage, multiple organ failure, and death.

Prompt interventions by medical professionals save lives, but some sepsis treatments can also contribute to a patient’s deterioration, so choosing the optimal therapy can be a difficult task. For instance, in the early hours of severe sepsis, administering too much fluid intravenously can increase a patient’s risk of death.

To help clinicians avoid remedies that may potentially contribute to a patient’s death, researchers at MIT and elsewhere have developed a machine-learning model that could be used to identify treatments that pose a higher risk than other options. Their model can also warn doctors when a septic patient is approaching a medical dead end — the point when the patient will most likely die no matter what treatment is used — so that they can intervene before it is too late.

When applied to a dataset of sepsis patients in a hospital intensive care unit, the researchers’ model indicated that about 12 percent of treatments given to patients who died were detrimental. The study also reveals that about 3 percent of patients who did not survive entered a medical dead end up to 48 hours before they died.

“We see that our model is almost eight hours ahead of a doctor’s recognition of a patient’s deterioration. This is powerful because in these really sensitive situations, every minute counts, and being aware of how the patient is evolving, and the risk of administering certain treatment at any given time, is really important,” says Taylor Killian, a graduate student in the Healthy ML group of the Computer Science and Artificial Intelligence Laboratory (CSAIL).

Joining Killian on the paper are his advisor, Assistant Professor Marzyeh Ghassemi, head of the Healthy ML group and senior author; lead author Mehdi Fatemi, a senior researcher at Microsoft Research; and Jayakumar Subramanian, a senior research scientist at Adobe India. The research is being presented at this week’s Conference on Neural Information Processing Systems. 

 

A Dearth of Data

This research project was spurred by a 2019 paper Fatemi wrote that explored the use of reinforcement learning in situations where it is too dangerous to explore arbitrary actions, which makes it difficult to generate enough data to effectively train algorithms. These situations, where more data cannot be proactively collected, are known as “offline” settings.

In reinforcement learning, the algorithm is trained through trial and error and learns to take actions that maximize its accumulation of reward. But in a health care setting, it is nearly impossible to generate enough data for these models to learn the optimal treatment, since it isn’t ethical to experiment with possible treatment strategies.

So, the researchers flipped reinforcement learning on its head. They used the limited data from a hospital ICU to train a reinforcement learning model to identify treatments to avoid, with the goal of keeping a patient from entering a medical dead end.

Learning what to avoid is a more statistically efficient approach that requires fewer data, Killian explains.

“When we think of dead ends in driving a car, we might think that is the end of the road, but you could probably classify every foot along that road toward the dead end as a dead end. As soon as you turn away from another route, you are in a dead end. So, that is the way we define a medical dead end: Once you’ve gone on a path where whatever decision you make, the patient will progress toward death,” Killian says.

“One core idea here is to decrease the probability of selecting each treatment in proportion to its chance of forcing the patient to enter a medical dead-end — a property that is called treatment security. This is a hard problem to solve as the data do not directly give us such an insight. Our theoretical results allowed us to recast this core idea as a reinforcement learning problem,” Fatemi says.

 

 

To develop their approach, called Dead-end Discovery (DeD), they created two copies of a neural network. The first neural network focuses only on negative outcomes — when a patient died — and the second network only focuses on positive outcomes — when a patient survived. Using two neural networks separately enabled the researchers to detect a risky treatment in one and then confirm it using the other.

They fed each neural network patient health statistics and a proposed treatment. The networks output an estimated value of that treatment and also evaluate the probability the patient will enter a medical dead end. The researchers compared those estimates to set thresholds to see if the situation raises any flags.

A yellow flag means that a patient is entering an area of concern while a red flag identifies a situation where it is very likely the patient will not recover.

 

Treatment Matters

The researchers tested their model using a dataset of patients presumed to be septic from the Beth Israel Deaconess Medical Center intensive care unit. This dataset contains about 19,300 admissions with observations drawn from a 72-hour period centered around when the patients first manifest symptoms of sepsis. Their results confirmed that some patients in the dataset encountered medical dead ends.

The researchers also found that 20 to 40 percent of patients who did not survive raised at least one yellow flag prior to their death, and many raised that flag at least 48 hours before they died. The results also showed that, when comparing the trends of patients who survived versus patients who died, once a patient raises their first flag, there is a very sharp deviation in the value of administered treatments. The window of time around the first flag is a critical point when making treatment decisions.

“This helped us confirm that treatment matters and the treatment deviates in terms of how patients survive and how patients do not. We found that upward of 11 percent of suboptimal treatments could have potentially been avoided because there were better alternatives available to doctors at those times. This is a pretty substantial number, when you consider the worldwide volume of patients who have been septic in the hospital at any given time,” Killian says.

Ghassemi is also quick to point out that the model is intended to assist doctors, not replace them.

“Human clinicians are who we want making decisions about care, and advice about what treatment to avoid isn’t going to change that,” she says. “We can recognize risks and add relevant guardrails based on the outcomes of 19,000 patient treatments — that’s equivalent to a single caregiver seeing more than 50 septic patient outcomes every day for an entire year.”

Moving forward, the researchers also want to estimate causal relationships between treatment decisions and the evolution of patient health. They plan to continue enhancing the model so it can create uncertainty estimates around treatment values that would help doctors make more informed decisions. Another way to provide further validation of the model would be to apply it to data from other hospitals, which they hope to do in the future.

 

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Harte Hanks Secures a New $25 Million Revolving Line of Credit with Texas Capital Bank



Harte Hanks Secures a New $25 Million Revolving Line of Credit with Texas Capital Bank

Research, News, and Market Data on Harte Hanks

 

CHELMSFORD, Mass.Dec. 21, 2021 /PRNewswire/ — Harte Hanks, Inc. (HHS) (the “Company”), a leading global customer experience company, today announced that the company has obtained a new $25 million secured revolving line of credit with Texas Capital Bank. This new loan agreement will enhance the Company’s strategic position and increase its financial flexibility.

The Company intends to use the credit facility for working capital, to repay existing debt and to create growth opportunities by investing in and enhancing our current client offerings. The credit facility will be guaranteed by various subsidiaries of the Company.

“We are pleased to work with Texas Capital Bank on this new credit facility that affords Harte Hanks additional financial flexibility as we continue to grow our business and enhance long-term shareholder value,” stated Brian Linscott, our Chief Executive Officer. Linscott went on to state, “This new facility is the next step in the Company’s strategy to ensure financial stability. The new facility eliminated the need for a third-party guarantee which demonstrates the success the Company has had in executing on its turnaround plan.”

About Harte Hanks:

Harte Hanks (HHS) is a leading global customer experience company whose mission is to partner with clients to provide them with CX strategy, data-driven analytics and actionable insights combined with seamless program execution to better understand, attract, and engage their customers.

Using its unparalleled resources and award-winning talent in the areas of Customer Care, Fulfillment and Logistics, and Marketing Services, Harte Hanks has a proven track record of driving results for some of the world’s premier brands including Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, Ford, FedEx, Midea, Sony and IBM among others. Headquartered in Austin, Texas, Harte Hanks has over 2,500 employees in offices across the Americas, Europe and Asia Pacific. For more information, visit hartehanks.com.

As used herein, “Harte Hanks” or “the Company” refers to Harte Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Harte Hanks’ logo and name are trademarks of Harte Hanks.

Note Regarding Forward-looking Statements

Our press release contains “forward-looking statements” within the meaning of U.S. federal securities laws. All such statements are qualified by this cautionary note, provided pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements other than historical facts are forward-looking and may be identified by words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “seeks,” “could,” “intends,” or words of similar meaning. These forward-looking statements are based on current information, expectations and estimates and involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to vary materially from what is expressed in or indicated by the forward-looking statements. In that event, our business, financial condition, results of operations or liquidity could be materially adversely affected and investors in our securities could lose part or all of their investments. These risks, uncertainties, assumptions and other factors include: (a) local, national and international economic and business conditions, including (i) the outbreak of diseases, such as the COVID-19 coronavirus and new variants thereof, which has curtailed travel to and from certain countries and geographic regions, created supply chain disruption and shortages, disrupted business operations and reduced consumer spending, (ii) market conditions that may adversely impact marketing expenditures and (iii) the impact of economic environments and competitive pressures on the financial condition, marketing expenditures and activities of our clients and prospects; (b) the demand for our products and services by clients and prospective clients, including (i) the willingness of existing clients to maintain or increase their spending on products and services that are or remain profitable for us, and (ii) our ability to predict changes in client needs and preferences; (c) economic and other business factors that impact the industry verticals we serve, including competition and consolidation of current and prospective clients, vendors and partners in these verticals; (d) our ability to manage and timely adjust our facilities, capacity, workforce and cost structure to effectively serve our clients; (e) our ability to improve our processes and to provide new products and services in a timely and cost-effective manner though development, license, partnership or acquisition; (f) our ability to protect our facilities against security breaches and other interruptions and to protect sensitive personal information of our clients and their customers; (g) our ability to respond to increasing concern, regulation and legal action over consumer privacy issues, including changing requirements for collection, processing and use of information; (h) the impact of privacy and other regulations, including restrictions on unsolicited marketing communications and other consumer protection laws; (i) fluctuations in fuel prices, paper prices, postal rates and postal delivery schedules; (j) the number of shares, if any, that we may repurchase in connection with our repurchase program; (k) unanticipated developments regarding litigation or other contingent liabilities; (l) our ability to complete anticipated divestitures and reorganizations, including cost-saving initiatives; (m) our ability to realize the expected tax refunds; (n) the realization of any benefits that may be derived from listing the Company’s common stock on Nasdaq and (o) other factors discussed from time to time in our filings with the Securities and Exchange Commission, including under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 which was filed on March 24, 2021. The forward-looking statements in this press release are made only as of the date hereof, and we undertake no obligation to update publicly any forward-looking statement, even if new information becomes available or other events occur in the future.

Investor Relations Contact:
Rob Fink
FNK IR
HRTH@fnkir.com
646-809-4048

SOURCE Harte Hanks, Inc.