Grindrod Shipping (GRIN) – Tune Into Virtual Transportation & Logistics Forum

Thursday, December 16, 2021

Grindrod Shipping (GRIN)
Tune Into Virtual Transportation & Logistics Forum

Grindrod Shipping, originated in South Africa with roots dating back to 1910. The company is based in Singapore, with offices around the world including, London, Durban, Cape Town, Tokyo and Rotterdam. Its primary listing is on Nasdaq and secondary listing on the JSE.

Grindrod Shipping owns and operates a diversified fleet of owned, long-term chartered and joint-venture dry-bulk and liquid-bulk vessels across the globe.

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

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

    Tune in to hear about GRIN at today’s Transportation & Logistics online forum. CEO Martyn Wade and CFO Stephen Griffiths will present at 3:00pm EST. Free registration is available at channelchek.vercel.app

    Presentation should focus on 2021 moves that enhanced competitive position and investor appeal.  While GRIN entered the year as a pure play dry bulk company, moves in 2021 further enhanced the competitive position and broadened investor appeal. Those moves included the acquisition of the remaining interest in IVS Bulk for $46.3 million, acquiring the 2019-built Phoenix Ultra for $23.5 million, and …



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. 

Eagle Bulk Shipping (EGLE) – Transportation & Logistics – a NobleCon Online Investor Event


Eagle Bulk CEO and Director, Gary Vogel delivers a formal corporate overview, followed by a Q & A session moderated by Noble Capital Markets Senior Transportation & Logistics Analyst Poe Fratt.

Return to the Investor Forum Event Page

Eagle Bulk Shipping Inc. (“Eagle” or the “Company”) is a US-based fully integrated shipowner-operator providing global transportation solutions to a diverse group of customers including miners, producers, traders, and end users. Headquartered in Stamford, Connecticut, with offices in Singapore and Copenhagen, Eagle focuses exclusively on the versatile midsize drybulk vessel segment and owns one of the largest fleets of Supramax / Ultramax vessels in the world. The Company performs all management services in-house (including: strategic, commercial, operational, technical, and administrative) and employs an active management approach to fleet trading with the objective of optimizing revenue performance and maximizing earnings on a risk-managed basis. For further information, please visit our website: www.eagleships.com.

Research, News & Advanced Market Data on EGLE

ProMIS Neurosciences Issues Chairman’s Memorandum



ProMIS Neurosciences Issues Chairman’s Memorandum

News and Market Data on ProMIS Neurosciences

 

TORONTO, Ontario and CAMBRIDGE, Mass., Dec. 16, 2021 (GLOBE NEWSWIRE) — ProMIS Neurosciences, Inc. (TSX: PMN) (OTCQB: ARFXF), a biotechnology company focused on the discovery and development of antibody therapeutics targeting toxic oligomers implicated in the development of neurodegenerative diseases, issued today a Chairman’s Memorandum commenting on the Company’s progress over the past year and outlook for 2022.

“ProMIS has never been in a better substantive position than we find ourselves now at the end of 2021”, stated Eugene Williams, Chairman and CEO of ProMIS Neurosciences. “We started the company with the mission to apply our unique technology to developing breakthrough therapies for patients and families affected by Alzheimer’s disease, ALS (amyotrophic lateral sclerosis), and other devastating diseases caused by mis-folded proteins. We are now making significant progress toward that goal.”

Key points from the memorandum are outlined below:

  • 2021 was a very successful year for ProMIS in terms of capital formation as we raised $27MM US, with the support of prestigious investors, and are well capitalized for the foreseeable future;
  • Shareholder support was very strong for a resolution enabling the Board to consolidate shares, in a manner that could qualify us for listing on a major North American stock exchange;  
  • Our lead program PMN310 is moving full speed ahead through the IND enabling work necessary to initiate our first in human clinical trial. The clinical readouts in the amyloid field continue to strongly support our scientific hypothesis that selectively targeting the neurotoxic amyloid oligomer will be key to optimal therapeutic safety and efficacy;
  • Our existing portfolio of highly selective antibodies targeting pathogenic mis-folded alpha synuclein, TDP-43 (Tar DNA Binding Protein-43), RACK1 (Receptor for Activated C Kinase 1), and tau is moving forward at an accelerated pace given our capital position;
  • ProMIS is very well positioned to be a leader in the new area of therapies targeting protein misfolding. We are pursuing several new targets in diseases like schizophrenia and expect significant progress in expanding our portfolio in 2022.

“We are very bullish about the prospects for ProMIS in 2022 and beyond and continue to believe that the neurodegenerative disease field has turned a corner,” concluded Eugene Williams. “Our unique, selective antibodies could be valuable contributors to making real progress against these devastating diseases and we remain committed to making that happen.”

To access the Chairman’s memorandum, please visit www.promisneurosciences.com or click on this direct link: https://www.promisneurosciences.com/cm122021

About ProMIS Neurosciences
ProMIS Neurosciences, Inc. is a development stage biotechnology company focused on discovering and developing antibody therapeutics selectively targeting toxic oligomers implicated in the development and progression of neurodegenerative diseases, in particular Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS) and Parkinson’s disease (PD). The Company’s proprietary target discovery platform is based on the use of two complementary thermodynamic, computational discovery engines – ProMIS and Collective Coordinates – to predict novel targets known as Disease Specific Epitopes on the molecular surface of misfolded proteins. Using this unique precision approach, the Company is developing novel antibody therapeutics for AD, ALS and PD. ProMIS is headquartered in Toronto, Ontario, with offices in Cambridge, Massachusetts. ProMIS is listed on the Toronto Stock Exchange under the symbol PMN, and on the OTCQB Venture Market under the symbol ARFXF.

Visit us at www.promisneurosciences.com, follow us on Twitter and LinkedIn

For Investor Relations please contact:
Alpine Equity Advisors
Nicholas Rigopulos, President
nick@alpineequityadv.com
Tel. 617 901-0785

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: ProMIS Neurosciences Inc.

Transportation & Logistics Forum – a NobleCon Online Investor Event

Transportation & Logistics Forum – a NobleCon Online Investor Event
Event Main Page

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Grindrod Shipping Holdings (GRIN) – Transportation & Logistics – a NobleCon Online Investor Event


Grindrod Shipping CEO Martyn Wade and CFO Stephen Griffiths deliver a formal corporate overview, followed by a Q & A session moderated by Noble Capital Markets Senior Transportation & Logistics Analyst Poe Fratt.

Return to the Investor Forum Event Page

Grindrod Shipping predominantly owns and operates a diversified fleet of owned and long-term and short-term chartered-in drybulk vessels. The drybulk business, which operates under the brand “Island View Shipping” (“IVS”) includes a Core Fleet of 15 handysize drybulk carriers and 16 supramax/ultramax drybulk carriers. The Company also owns one medium range product tanker on bareboat charter. The Company is based in Singapore, with offices in London, Durban, Tokyo, Cape Town and Rotterdam. Grindrod Shipping is listed on NASDAQ under the ticker “GRIN” and on the JSE under the ticker “GSH”.

Research, News & Advanced Market Data on GRIN

Pangaea Logistics Solutions (PANL) – Transportation & Logistics – a NobleCon Online Investor Event


Pangaea Logistics CEO & COO Mark Filanowski, Managing Director Mads Petersen, and CFO Gianni Del Signore deliver a formal corporate overview, followed by a Q & A session moderated by Noble Capital Markets Senior Transportation & Logistics Analyst Poe Fratt.

Return to the Investor Forum Event Page

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The Company addresses the transportation needs of its customers with a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, and voyage planning. Learn more at www.pangaeals.com.

News & Advanced Market Data on PANL

International Seaways (INSW) – Transportation & Logistics – a NobleCon Online Investor Event


International Seaways Senior Vice President & CFO Jeffrey D. Pribor delivers a formal corporate overview, followed by a Q & A session moderated by Noble Capital Markets Senior Transportation & Logistics Analyst Poe Fratt.

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International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 92 vessels, including 13 VLCCs (including three newbuildings), 15 Suezmaxes, five Aframaxes/LR2s, 10 Panamaxes/LR1s, 41 MR tankers and six Handy tankers. Through joint ventures, it has ownership interests in two floating storage and offloading service vessels. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at https://www.intlseas.com.

News & Advanced Market Data on INSW

Genco Shipping & Trading Limited (GNK) – Transportation & Logistics – a NobleCon Online Investor Event


Genco Shipping & Trading President & CEO John Wobensmith, CFO Apostolos Zafolias, and SVP, Strategy and Finance Peter Allen deliver a formal corporate overview, followed by a Q & A session moderated by Noble Capital Markets Senior Transportation & Logistics Analyst Poe Fratt.

Return to the Investor Forum Event Page

Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We provide a full-service logistics solution to our customers utilizing our in-house commercial operating platform, as we transport key cargoes such as iron ore, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping routes. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Capesize (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk) enabling us to carry a wide range of cargoes. We make capital expenditures from time to time in connection with vessel acquisitions. As of November 3, 2021, Genco Shipping & Trading Limited’s fleet consists of 17 Capesize, 13 Ultramax and 12 Supramax vessels with an aggregate capacity of approximately 4,514,000 dwt and an average age of 10.1 years.

Research, News & Advanced Market Data on GNK

ESG Growing Pains Include Greenwashing


The Extreme Growth of ESG Has Bumps that Include Greenwashing

 

Over the past decade, there’s been a great proliferation of investment strategies and funds that consider environmental, social, and governance (ESG) factors. Publicly traded companies are certainly aware of this. They know that if they fall within these categories, to make certain they’re recognized for it. After all, this recognition could enhance demand for their stock. The rewards are great. Growth of ESG funds from January through September 2021 was $577 billion, and this far exceeded the prior year’s rapid expansion to $355 billion. And this does not include the investments in individual stocks outside of funds.  There is no question, if a company is listed as ESG, it may get more attention than if it is not.

Greenwashing

As ESG continues to dominate the headlines, so does “greenwashing”, which occurs when an organization makes exaggerated claims that a product or service is more environmentally friendly than it truly is. Greenwashing can occur within a company selling a product or service. A classic example is when Volkswagen rigged its cars to cheat on emissions tests, then sold the cars as if they were in line with federal emissions standards while touting the benefits of “clean diesel”. Another example of greenwashing would be if an asset manager labeled an investment product, such as a mutual fund, as green or sustainable but had no process in place to assess the sustainability factors of the underlying investments.

Standardization

Although greenwashing can imply intentional deception, there is also some accidental greenwashing that occurs due to the lack of standardization or regulation of ESG disclosures. Say, for example, that an ESG asset manager markets a fund as sustainable. The manager will invest in companies that have a history of decreasing greenhouse gas emissions, including energy companies. An individual investor may look at the fund and be surprised to see an energy company included. This isn’t greenwashing, but rather a difference of opinion of what “sustainable” means. Without standardized definitions, methodologies, and regulations, this form of accidental greenwashing will be difficult to avoid. Because of this, some areas of the world have already started to implement standardized ESG disclosures, and the U.S. and agencies within are exploring this.

Let the Investor Beware

There is a clear business opportunity within the realm of ESG. Companies realize that in order to attract investment dollars and consumer support, they must have an ESG story. This all begs the question: how can individuals differentiate between a story and a true strategy? Until regulation comes into play, the onus will be on individuals to investigate for themselves. Here are some tips to keep handy:

  • Request a company’s CSR, sustainability, or impact report. If a company doesn’t have one, or if it includes a lot of fluff or buzz words, it’s a red flag.
  • When investing in products labeled “ESG” or “sustainable”, ask the portfolio manager or analyst to explain the screening process to you. If they have a hard time articulating this, or don’t have much to say, it’s a red flag.
  • Ask questions, and specifically ask for statistics and data to back up claims. For example, what makes the product “eco-friendly”? If a company hesitates to provide these figures, it’s a red flag.
  • Look for certifications, such as USDA Organic, Fair Trade Certified, etc. If a product is being sold as all-natural or organic, but doesn’t have a relevant certification, it’s a red flag.

As ESG continues to grow, so will the frequency of greenwashing. Regulation and oversight of ESG disclosure standards will undoubtedly help combat greenwashing.  Until then, a healthy dose of skepticism can assist individuals in weeding out the bad actors. If it seems too good to be true, it probably is.

 

Suggested Reading:



What’s an ESG Score?



Why Zoom Meetings Can Leave You Fatigued





Lithium Recycling is an EV Opportunity Not Yet on Many Investors’ Radar



Can Mining be Green and Sustainable?

 

Sources:

https://www.nasdaq.com/articles/esg-growth-outlook-provides-ballast-for-this-etf

https://www.gobyinc.com/how-much-money-is-invested-in-esg/

https://info.logicmanager.com/

https://www.broadridge.com/

 

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Release – Seanergy Maritime Announces Refinancing of Existing Vessel Resulting in Significant Cashflow and P&L Benefit



Seanergy Maritime Announces Refinancing of Existing Vessel Resulting in Significant Cashflow and P&L Benefit

Research, News, and Market Data on Seanergy Maritime

 

December 16, 2021 – Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP) announced today that it has entered into a definitive agreement for the refinancing of a loan facility secured by M/V Geniuship, with a new loan facility secured by the same vessel.

The current outstanding balance is provided by certain nominees of Entrust Global and stands at $14.6 million. The Entrust facility has a remaining duration of 3.5 years, bears interest at a fixed rate of 10.5% per annum and amortizes through quarterly instalments of $515,000.

The new loan facility will be provided by a prominent Far Eastern bank (the ‘New Facility’), has an initial balance of $15 million, a five-year term and bears interest of LIBOR + 3.5% per annum. The New Facility will amortize through 4 quarterly instalments of $530,000 followed by 16 quarterly instalments of $385,000.

The significantly lower interest rate, as well as the reduced quarterly repayments agreed for 2023 onwards, will further improve the break-even rates of the underlying vessel. In addition, the interest savings for the Company are expected to be $0.9 million for 2022 and $0.5 million on average per year for 2023-25.

As of the date of this release and pro-forma for this refinancing, which is expected to close within December, Seanergy’s total indebtedness will be approximately $242.7 million, consisting of $221.0 million debt and other financial leases and $21.7 million in unsecured convertible notes, while total cash and cash equivalents, restricted cash and term deposits of the Company are expected to be approximately $45.0 million.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:

“As part of our continuous efforts to further improve our strong cashflow, we have agreed another successful refinancing for an existing capesize vessel. The New Facility has a considerably lower interest rate, which will benefit immediately the Company’s cash flow and profitability. The total expected interest savings for Seanergy will be approximately $2.3 million over the next 3 years. Consistent with our conservative approach on leverage, we aim in achieving more competitive pricing and overall terms of the loan without increasing the debt on the vessel.

“We remain committed to our strategy to further reduce our financing cost by additional refinancings and buybacks or repayment of debt that are expected to generate improved shareholder returns.”

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 17 Capesize vessels with an average age of 11.7 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt.

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and its Class B warrants under “SHIPZ”.

Please visit our company website at: www.seanergymaritime.com.

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For further information please contact:

Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr

Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com

Seanergy Maritime Holdings (SHIP) – Transportation & Logistics – a NobleCon Online Investor Event


Seanergy Maritime Holdings CEO Stamatis Tsantanis and CFO Stavros Gyftakis deliver a formal corporate overview, followed by a Q & A session moderated by Noble Capital Markets Senior Transportation & Logistics Analyst Poe Fratt.

Return to the Investor Forum Event Page

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 17 Capesize vessels with an average age of 11.7 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt. The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and its Class B warrants under “SHIPZ”. Please visit our company website at: www.seanergymaritime.com.

Research, News & Advanced Market Data on SHIP

Release – BioSig Expands Its Clinical Footprint In Florida



BioSig Expands Its Clinical Footprint In Florida

News and Market Data on BioSig Technologies

 

The Company’s signal processing technology for arrhythmia care is being installed in a leading HCA Healthcare-operated facility in Southeast Florida

Westport, CT, Dec. 16, 2021 (GLOBE NEWSWIRE) — BioSig Technologies, Inc. (Nasdaq: BSGM) (“BioSig” or the “Company”), a medical technology company commercializing an innovative signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals, today announced that it is installing a PURE EP™ System for an evaluation at the HCA Healthcare-operated Westside Regional Medical Center in Plantation, FL.

Westside Regional Medical Center is an award-winning 250-bed hospital recognized for providing a wide array of services to the residents of Broward County, South Florida, and visitors from around the world. The hospital’s electrophysiology program is one of the most frequented in Broward County, offering advanced diagnostic services and multiple modalities for diagnosing and treating arrhythmia.1. In addition to its comprehensive cardiovascular services, Westside Regional Medical Center is certified as a Comprehensive Stroke Center by the Agency for Health Care Administration (ACHA). Westside Regional Medical Center is a facility of HCA East Florida, the most extensive healthcare system in Eastern Florida and an affiliate of Hospital Corporation of America (HCA). HCA East Florida has 14 hospitals, multiple ambulatory surgery centers, physician practices, free-standing emergency care facilities, and a supply chain center, and an integrated regional lab.2

“Our new installation agreement with Westside Regional Medical Center increases our clinical reach across the state, with an installation in both the north and south regions of Florida. We are thrilled to partner with another leading HCA Healthcare-operated institution and continue to solidify our commitment to arrhythmia patient care across the state of Florida,” commented Kenneth L. Londoner, Chairman and CEO of BioSig Technologies, Inc.

To date, 73 physicians have completed over 1750 patient cases with the PURE EP™ System. The Company is in a focused commercial launch of the PURE EP™ System in the Northeast, Texas, and Florida. The Company’s most recent evaluation adds to its clinical footprint in Florida, which also includes Mayo Clinic’s Florida Campus, a national Medical Center of Excellence.

Clinical data acquired by the PURE EP™ System in a multi-center study at Texas Cardiac Arrhythmia Institute at St. David’s Medical Center, Mayo Clinic Jacksonville and Massachusetts General Hospital was recently published in the Journal of Cardiovascular Electrophysiology and is available electronically with open access via the Wiley Online Library. Study results showed 93% consensus across the blinded reviewers with a 75% overall improvement in intracardiac signal quality and confidence in interpreting PURE EP™ signals over conventional sources.

About 2,300 Americans die from heart disease each day – an average of one death every 38 seconds3. In 2016, 1.6 million Texas adults reported that they had been diagnosed with heart disease or stroke4. There were 336,462 hospitalizations of adult Texans related to heart disease in 2016, at an age-adjusted rate of 124.0 per 10,000 adults5. The direct and indirect costs of heart disease and stroke in the U.S. are estimated to be $329.7 billion, and the cost is projected to increase to $749 billion by 20356.

About BioSig Technologies
BioSig Technologies is a medical technology company commercializing a proprietary biomedical signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals (www.biosig.com).

The Company’s first product, PURE EP™ System is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording, and storing electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures in an EP laboratory.

Forward-looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward- looking statements are not guarantees of future 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 and consequently, actual 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) the geographic, social and economic impact of COVID-19 on our ability to conduct our business and raise capital in the future when needed, (ii) our inability to manufacture our products and product candidates on a commercial scale on our own, or in collaboration with third parties; (iii) difficulties in obtaining financing on commercially reasonable terms; (iv) changes in the size and nature of our competition; (v) loss of one or more key executives or scientists; and (vi) difficulties in securing regulatory approval to market our products and product candidates. 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.



1 Arrhythmia Specialties – Westside Regional Medical Center: westsideregional.com

2 Hospital News and Healthcare Report – 2020: southfloridahospitalnews.com

3 Heart disease and stroke statistics – 2018 update: a report from the American Heart Association

4 Texas Behavioral Risk Factor Surveillance System Public Use Data File, 2016, Center for Health Statistics, Texas Department of State Health Services

5 Texas Hospital Inpatient Discharge Public Use Data, Texas Health Care Information Collection, 2016, Center for Health Statistics, Texas Department of State Health Services

6 Heart disease and stroke statistics – 2018 update: a report from the American Heart Association


Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133

Source: BioSig Technologies, Inc.

Release – Digerati Technologies Reports 143 Revenue Growth to $3.777 Million for First Quarter FY2022




Digerati Technologies Reports 143% Revenue Growth to $3.777 Million for First Quarter FY2022

Research, News, and Market Data on Digerati Technologies

 

– Non-GAAP Operating EBITDA of $0.691 Million –
– Gross Profit of $2.287 Million –
– Strong Gross Margin Improvement to 60.6% –

SAN ANTONIO, TX (GlobeNewswire) – December 15, 2021 – Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as  a Service) solutions for the small to medium-sized business (“SMB”) market, announced today financial results  for the three months ended October 31, 2021, the Company’s first quarter for its Fiscal Year 2022. 

Key Financial Highlights for the First Quarter Fiscal Year 2022 (Ended October 31, 2021) 

  • Revenue increased by 143% to $3.777 million compared to $1.552 million for Q1 FY2021.
  •  Gross profit increased 184% to $2.287 million compared to $0.804 million for Q1 FY2021.
  •  Gross margin increased to 60.6% compared to 51.8% for Q1 FY2021.
  • Non-GAAP Adjusted EBITDA income improved to $0.317 million, excluding all non-cash items and one-time transactional expenses, compared to Adjusted EBITDA income of $0.058 million for Q1FY2021.
  • Non-GAAP operating EBITDA (OPCO EBITDA) improved to income of $0.691 million, excluding corporate expenses, compared to a non-GAAP operating EBITDA of $0.242 million for Q1 FY2021.

Arthur L. Smith, CEO of Digerati, commented, “I commend our team for continuing to execute successfully on  our plan and delivering on solid financial improvements in our first quarter of FY2022. This is reflected in strong  top-line revenue growth of 143%, an increase in gross margin, and improved Adjusted EBITDA results. With a  solid foundation in Florida and Texas, we believe Digerati is well positioned to continue executing on its business  plan and deliver on organic and acquisition growth in a very fragmented market.” 

Antonio Estrada, CFO of Digerati, stated, “Our financial disciplines remain strong since acquiring Nexogy and  ActivePBX in FY2021. Although most of the integration related to these acquisitions is complete, we continue  to streamline cost structures and integrate systems that we anticipate will result in improved financial results in  the future. We look forward to replicating this type of success with additional targeted and accretive acquisitions.” 

Three Months ended October 31, 2021 Compared to Three Months ended October 31, 2020 

Revenue for the three months ended October 31, 2021 was $3.777 million, an increase of $2.225 million or 143% compared to $1.552 million for the three months ended October 31, 2020. The increase in revenue between  periods is primarily attributed to the consolidation of the closed acquisitions of Nexogy and ActivePBX during  the period. 

Gross profit for the three months ended October 31, 2021 was $2.287 million, resulting in a gross margin of  60.6%, compared to $0.804 million and 51.8% for the three months ended October 31, 2020. The increase in gross margin is primarily due to the addition of high-margin revenue associated with Nexogy’s and ActivePBX’s  UCaaS product line.  

Selling, General and Administrative expenses (excluding legal and professional fees) for the three months ended  October 31, 2021 increased by $0.777 million, or 77%, to $1.788 million compared to $1.011 million for the three  months ended October 31, 2020. The increase in SG&A is attributed to the consolidation of the closed acquisitions  of Nexogy and ActivePBX. 

Operating loss for the three months ended October 31, 2021, was $0.580 million, an improvement of $0.046 million or 7%, compared to $0.626 million for the three months ended October 31, 2020. 

Adjusted EBITDA income for the three months ended October 31, 2021, was $0.317 million, an improvement of  $0.259 million, compared to an adjusted EBITDA income of $0.058 million for the three months ended October 31, 2020. In accordance with SEC Regulation G, the non-GAAP measurement of Adjusted EBITDA has been  reconciled to the nearest GAAP measurement, which can be viewed under the heading “Reconciliation of Net  Loss to Adjusted EBITDA” in the financial table included in this press release. 

Of note were the following non-cash expenses associated with the three months ended October 31, 2021. The  Company recognized stock-based compensation and warrant expense of $0.024 million and depreciation and  amortization expense of $0.492 million. Gain on derivative instruments was $4.433 million for the three months ended October 31, 2021. 

Non-GAAP operating EBITDA (OPCO EBITDA) for the three months ended October 31, 2021 improved to  income of $0.691 million, excluding corporate expenses, compared to a non-GAAP operating income of $0.242 million for the three months ended October 31, 2020. 

Net income for the three months ended October 31, 2021, was $2.419 million, an increase of $3.145 million, as  compared to a net loss of $0.726 million, for the three months ended October 31, 2020. The resulting Basic EPS  for the three months ended October 31, 2021 was $0.02, as compared to a Basic EPS loss of ($0.01) for the three  months ended October 31, 2020. 

At October 31, 2021, Digerati had $1.646 million of cash. 

Use of Non-GAAP Financial Measurements 

The Company believes that EBITDA (earnings before interest, taxes, depreciation and amortization) is useful to  investors because it is commonly used in the cloud communications industry to evaluate companies on the basis  of operating performance and leverage. Adjusted EBITDA provides an adjusted view of EBITDA that takes into  account certain significant non-recurring transactions, if any, such as impairment losses and expenses associated  with pending acquisitions, which vary significantly between periods and are not recurring in nature, as well as  certain recurring non-cash charges such as changes in fair value of the Company’s derivative liabilities and stock based compensation. The Company also believes that Adjusted EBITDA provides investors with a measure of  the Company’s operational and financial progress that corresponds with the measurements used by management  as a basis for allocating resources and making other operating decisions. Although the Company uses Adjusted  EBITDA as one of several financial measures to assess its operating performance, its use is limited as it excludes  certain significant operating expenses. Non-GAAP operating EBITDA (OPCO EBITDA) is useful to investors  because it reflects EBITDA for the core operation of the business excluding corporate expenses, non-cash  expenses and transactional expenses. EBITDA, Adjusted EBITDA, and Non-GAAP operating EBITDA are not  intended to represent cash flows for the periods presented, nor have they been presented as an alternative to  operating income or as an indicator of operating performance and should not be considered in isolation or as a  substitute for measures of performance prepared in accordance with accounting principles generally accepted in  the United States of America (“GAAP”). In accordance with SEC Regulation G, the non-GAAP measurements

in this press release have been reconciled to the nearest GAAP measurement, which can be viewed under the heading “Reconciliation of Net Loss to Adjusted EBITDA” in the financial table included in this press release. 

About Digerati Technologies, Inc. 

Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS (Unified  Communications as a Service) solutions for the business market. Through its operating subsidiaries T3  Communications (T3com.com) and Nexogy (Nexogy.com), the Company is meeting the global needs of  businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including  cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on  its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions  in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the  Cloud™. For more information, please visit www.digerati-inc.com or follow DTGI on LinkedIn, Twitter and  Facebook.  

Forward-Looking Statements 

The information in this news release includes certain forward-looking statements that are based upon assumptions  that in the future may prove not to have been accurate and are subject to significant risks and uncertainties,  including statements related to the future financial performance of the Company. Although the Company believes  that the expectations reflected in the forward-looking statements such as anticipated improvement in financial  results and delivering on organic and acquisition growth in a very fragmented market, are reasonable, it can give  no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that  could cause results to differ include, but are not limited to, our inability to source suitable acquisition targets,  failure to execute growth strategies, lack of product development and related market acceptance, the impact of  competitive services and pricing, general economic conditions, and other risks and uncertainties described in the  Company’s periodic filings with the Securities and Exchange Commission. 

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Investors 

The Eversull Group 
Jack Eversull  
jack@theeversullgroup.com 
(972) 571-1624 

ClearThink 
Brian Loper 
bloper@clearthink.capital 
(347) 413-4234