Month: January 2022

Release – Bunker Hill Announces Closing of Mine Purchase and $8 Million Royalty Convertible Debenture

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Bunker Hill Announces Closing of Mine Purchase and $8 Million Royalty Convertible Debenture

Research, News, and Market Data on Bunker Hill Mining

 

TORONTO, Jan. 10, 2022 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce the closing of the previously announced purchase of the Bunker Hill Mine and $8 million Royalty Convertible Debenture with Sprott Private Resource Streaming & Royalty Corp (“SRSR” or “Sprott”).

Sam Ash, CEO stated “Ownership of the Bunker Hill Mine is an immense source of pride for our stakeholders and a major milestone on our journey towards its rapid restart. I would like to thank our funding partners at Sprott for working diligently with us over the last couple of weeks to close this first $8 million tranche of the $50 million financing package. We look forward to closing the $5 million Convertible Debenture over the coming days and to an exciting 2022 full of value-creating catalysts for our investors.”

Following the approval of the transaction by Placer Mining Corp. shareholders and satisfaction of other closing conditions, the purchase of the mine closed on Friday, January 7th. Concurrently, definitive documentation and all closing conditions were met for the $8 million Royalty Convertible Debenture. As announced in the company’s news release on December 20, 2021, the Royalty Convertible Debenture funds the purchase of the Bunker Hill Mine, a $2 million payment to the EPA, and near-term working capital requirements until closing of the $5 million Convertible Debenture.

The Royalty Convertible Debenture is currently secured by a share pledge of the Company’s operating subsidiary, while a full security package is put in place that will also enable funding of the $5 million Convertible Debenture, as announced on December 20, 2021. Definitive documentation for the Convertible Debenture is being advanced, concurrent with the full security package.

ABOUT BUNKER HILL MINING CORP.

Under new Idaho-based leadership the Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.

For additional information contact:

David Wiens, CFA

CFO & Corporate Secretary

+1 208 370 3665

ir@bunkerhillmining.com

Cautionary Statements

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.

Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding: its objectives, goals or future plans and statements; closing the financing package as described herein with SRSR; and the financing package with SRSR being sufficient for the purposes described herein. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains;  failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the Company’s ability to restart and develop the Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.  No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been disclosed in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (“SEC”), and resource and reserve information contained in this press release may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserves”. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. U.S. investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for disclosure of “reserves” are also not the same as those of the SEC, and reserves disclosed by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. Accordingly, information concerning mineral deposits contained in our website may not be comparable with information made public by companies that report in accordance with U.S. standards.

Release – PDS Biotech Granted Patent for its Novel HPV16 Immunotherapy

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PDS Biotech Granted Patent for its Novel HPV16 Immunotherapy

Research, News, and Market Data on PDS Biotech

 

Extends patent protection of PDS0101 by the United States Patent and Trademark Office Until October 2037

FLORHAM PARK, N.J., Jan. 10, 2022 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing novel cancer therapies based on the Company’s proprietary Versamune® T-cell activating technology, today announced that it has been granted U.S. Patent Application No. 15,724,818 titled “Novel HPV16 Non HLA-Restricted T-cell Vaccines, Composition and Methods of Use Thereof” by the United States Patent and Trademark Office (USPTO).

The newly issued patent covers the PDS0101 immunotherapy which consists of a combination of the Versamune technology platform with a unique mixture of short protein fragments derived from the cancer-causing virus, HPV16.  The composition promotes the induction of killer (CD8+) T-cells by the immune system that recognize, and attack cancers caused by infection with HPV16 irrespective of the patients’ genetic makeup. 

HPV16 is the most oncogenic or cancer-causing type of HPV, and is by far the most prevalent in patients with advanced HPV-associated cancers, including anal, cervical, head and neck, penile, vaginal and vulvar cancers.  More than 40,500 patients are diagnosed with HPV16-associated cancers each year according to the International Journal of Cancer.  Some of these cancers have been reported to be increasing in incidence over the last few years. 

“We remain excited about the promising early efficacy and safety data from our ongoing Phase 2 clinical trials.  The early clinical data coupled with the recent grant of the PDS0101 patent that runs into late 2037 puts PDS Biotech in a strong position to progress commercialization of the product to address a significant unmet need for more effective treatment of advanced HPV-associated cancers,” stated Frank Bedu-Addo, Chief Executive Officer of PDS Biotech. 

In partnership with Merck & Co., PDS Biotech is evaluating a combination of PDS0101 and KEYTRUDA® in a Phase 2 study (NCT04260126) in first-line treatment of recurrent or metastatic head and neck cancer, and also in second-line treatment of recurrent or metastatic head and neck cancer in patients who have failed prior checkpoint inhibitor therapy. PDS Biotech is also conducting a Phase 2 clinical study in both second- and third-line treatment of multiple advanced HPV-associated cancers with the National Cancer Institute (NCI). A third Phase 2 clinical trial in first-line treatment of locally advanced cervical cancer is being performed with The University of Texas, MD Anderson Cancer Center.

About PDS Biotechnology

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of cancer immunotherapies based on the Company’s proprietary Versamune® T-cell activating technology platform. Our Versamune®-based products have demonstrated the potential to overcome the limitations of current immunotherapy by inducing in vivo, large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple therapies, based on combinations of Versamune® and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them.  The Company’s pipeline products address various cancers including HPV16-associated cancers (anal, cervical, head and neck) and breast, colon, lung, prostate and ovarian cancers.  To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the “Company”) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “forecast,” “guidance”, “outlook” and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company’s ability to protect its intellectual property rights; the Company’s anticipated capital requirements, including the Company’s anticipated cash runway and the Company’s current expectations regarding its plans for future equity financings; the Company’s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company’s operations or require the Company to relinquish rights to the Company’s technologies or product candidates; the Company’s limited operating history in the Company’s current line of business, which makes it difficult to evaluate the Company’s prospects, the Company’s business plan or the likelihood of the Company’s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for PDS0101, PDS0203 and other Versamune® based products; the future success of such trials; the successful implementation of the Company’s research and development programs and collaborations, including any collaboration studies concerning PDS0101, PDS0203 and other Versamune® based products and the Company’s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company’s product candidates; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including our ability to fully fund our disclosed clinical trials, which assumes no material changes to our currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim results, which are not necessarily indicative of the final results of the Company’s ongoing clinical trials;  any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical  results from its clinical development programs and any collaboration studies; the acceptance by the market of the Company’s product candidates, if approved; the timing of and the Company’s ability to obtain and maintain U.S. Food and Drug Administration or other regulatory authority approval of, or other action with respect to, the Company’s product candidates; and other factors, including legislative, regulatory, political and economic developments not within the Company’s control, including unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s annual and periodic reports filed with the SEC. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Investor Contact:

Rich Cockrell
CG Capital
Phone: +1 (404) 736-3838
Email: pdsb@cg.capital

Release – Indonesia Energy Recognized as Top 3 Performer in 2021

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Indonesia Energy Recognized as Top 3 Performer in 2021

Research, News, and Market Data on Indonesia Energy

 

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / January 10, 2022 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that IEC’s operating company has been recognized by the state oil and gas company, Pertamina, as the top three performer in 2021 among 11 oil and gas producing companies in Indonesia under Cooperation Agreement Contracts after comprehensive evaluation on the work commitment, financial, operations and safety records. This recognition is especially significant as IEC just recently announced that daily oil production rate has increased over 50% as a result of the recently completed “Kruh 26” well on its 63,000-acre Kruh Block and IEC plans to commence drilling two back-to-back producing wells at Kruh Block commencing in approximately 60 days. IEC’s production target is to be producing approximately 450 barrels of oil per day after completion of these next two wells. IEC also plans to commence drilling on two additional wells at Kruh Block during the third quarter of 2022.

These new wells are part of IEC’s overall previously announced plan to drill a total of 18 new wells on the Kruh Block over the next 3 years. In order to help meet its drilling plan goals for Kruh Block, IEC is in the process of completing plans to conduct a 30KM seismic program on the Kruh Block which should help to optimize well selection.

Mr. Frank Ingriselli, IEC’s President commented “Indonesia with a more than 100-year history of welcoming international energy companies from around the world, has selected Indonesia Energy Corporation as the 3rd best energy production company in Indonesia. This recognition highlights our commitment to the highest standards of safety and economic efficiency. There are over 200 oil and gas companies operating in Indonesia and we have risen to the top. We are proud of our entire corporate teams’ dedication and leadership”

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts, and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including, without limitation, the anticipated results of IEC’s 2020 exploration and production activities and the impact of global oil prices and the novel coronavirus outbreak as described herein) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s registration statement and related prospectus for the IEC’s initial public offering filed with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

Release – COVAXIN BBV152 Booster Dose Study Demonstrates Robust Immune Responses and Long-Term Safety

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COVAXIN™ (BBV152) Booster Dose Study Demonstrates Robust Immune Responses and Long-Term Safety

 

Research, News, and Market Data on Ocugen

 

  • Participants receiving a booster dose six months after second dose of COVAXIN™ saw significant increase (>10-fold across Alpha, Beta, Delta and Delta Plus variants) in neutralizing titers compared to baseline at six months
  • Persistence of memory B and T cell immune responses at six months post second dose
  • Pronounced SARS-CoV-2-specific T cell response to COVAXIN™ before and after the booster dose may confer durable and long-term protective efficacy
  • No serious adverse events such as hospitalizations or deaths were reported
  • Effectiveness of COVAXIN™ against the Omicron strain is currently being studied and will be reported shortly

MALVERN, Pa., Jan. 08, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing novel therapeutics and vaccines, announced that its partner, Bharat Biotech, posted positive results from a Phase 2 analysis of the vaccine candidate, COVAXIN™ (BBV152), in participants ages 12-64, receiving a booster dose six months following a second dose on the pre-print server, medRxiv. The analysis found that participants receiving a booster dose saw a significant increase in neutralizing titers, an important predictor of vaccine efficacy.

“As the COVID-19 virus continues to evolve, so does our understanding of the efficacy of vaccines and the critical role they play in protecting people from serious disease, hospitalization and death,” said Dr. Shankar Musunuri, Chairman, CEO and Co-Founder, Ocugen, Inc. “These booster data provide critical information about how COVAXIN™ can be used in the ongoing battle against COVID-19. We are encouraged by these results which continue to suggest that COVAXIN™ remains an important, broad-spectrum vaccine candidate with durability.”

Additional data from the analysis found that more than 75 percent of all participants had a detectible neutralizing antibody response six months post their second dose of COVAXIN™. After receiving the booster, participants also saw an increase in antibody titers (at day 28) that were higher than those achieved after the two-dose primary series. Wild-type neutralizing antibodies (PRNT50) GMTs at one month after a booster dose against Alpha, Beta, Delta and Delta plus variants were increased 10·9, 161·0, 264·7, and 174·2 fold from baseline at six months post second dose, respectively.

“Although protection against severe disease remains high six months following the second dose, a decline in efficacy against symptomatic disease over time and the continued emergence of variants are expected and consistent with what we are seeing with other vaccines. Based on emerging data, a third dose may be beneficial to maintain the highest levels of protection,” said Huma Qamar, MD, MPH, CMI, Associate Vice President, Clinical Development, Ocugen, Inc.

The booster dose analysis also found no serious adverse events, including hospitalization or death, were reported.

About COVAXIN™ (BBV152)
COVAXIN™ (BBV152) is an investigational vaccine candidate product in the U.S. It was developed by Bharat Biotech in collaboration with the Indian Council of Medical Research (ICMR) – National Institute of Virology (NIV). COVAXIN™ (BBV152) is a highly purified and inactivated vaccine that is manufactured using a vero cell manufacturing platform.

With more than 180 million doses having been administered to adults outside the U.S., COVAXIN™ (BBV152) is currently authorized under emergency use in 17 countries, and applications for emergency use authorization are pending in more than 60 other countries. The World Health Organization (WHO) recently added COVAXIN™ (BBV152) to its list of vaccines authorized for emergency use. And, as many as 110 countries have agreed to mutual recognition of Covid-19 vaccination certificates with India that includes vaccination using COVAXIN™ (BBV152). The trade name, COVAXIN™, has not been evaluated by the FDA.

About Ocugen, Inc.
Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one to many” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. and Canadian markets. For more information, please visit www.ocugen.com.

About Bharat Biotech 
Bharat Biotech has established an excellent track record of innovation with more than 145 global patents, a wide product portfolio of more than 16 vaccines, 4 bio-therapeutics, registrations in more than 123 countries, and the World Health Organization (WHO) Pre-qualifications. Located in Genome Valley in Hyderabad, India, a hub for the global biotech industry, Bharat Biotech has built a world-class vaccine & bio-therapeutics, research & product development, Bio-Safety Level 3 manufacturing, and vaccine supply and distribution.

Having delivered more than 4 billion doses of vaccines worldwide, Bharat Biotech continues to lead innovation and has developed vaccines for influenza H1N1, Rotavirus, Japanese Encephalitis, Rabies, Chikungunya, Zika, and the world’s first tetanus-toxoid conjugated vaccine for Typhoid. Bharat’s commitment to global social innovation programs and public-private partnerships resulted in introducing path-breaking WHO pre-qualified vaccines BIOPOLIO®, ROTAVAC®, and Typbar TCV® combatting polio, rotavirus, typhoid infections, respectively. The acquisition of the rabies vaccine facility, Chiron Behring, from GlaxoSmithKline (GSK) has positioned Bharat Biotech as the world’s largest rabies vaccine manufacturer. To learn more about Bharat Biotech, visit www.bharatbiotech.com.

Cautionary Note on Forward-Looking Statements  
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such forward-looking statements include information about qualitative assessments of available data, potential benefits, expectations for clinical trials, and anticipated timing of clinical trial readouts and regulatory submissions, including statements about data published on the preprint server, medRxiv, by Bharat Biotech, which found that COVAXIN™, when administered as a booster dose, generated a five-fold increase in neutralizing titers, an important predictor of vaccine efficacy, and the potential for this data to support our application to the U.S. Food and Drug Administration (FDA) for emergency use authorization (EUA) of COVAXIN™ in pediatric patients or our planned biologics license application (BLA), assuming the clinical hold is lifted, for approval of COVAXIN™ for use in adult patients, as well as statements regarding the potential short and long-term benefits of receiving a booster dose of COVAXIN™. This information involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates; the risk that we may not resolve the current clinical hold on COVAXIN™ in the near term or at all, or that the FDA could make other decisions that adversely impact our ability to advance the development of COVAXIN™ in the United States, and the implications that this clinical hold may have for our request for EUA of COVAXIN for pediatric use, including the timing and scope of any such authorization; risks associated with preliminary and interim data, including the possibility of unfavorable new clinical trial data and further analyses of existing clinical trial data; the risk that the results of in-vitro studies will not be duplicated in human clinical trials; the risk that clinical trial data are subject to differing interpretations and assessments, including during the peer review/publication process, in the scientific community generally, and by regulatory authorities; whether and when data from Bharat Biotech’s clinical trials will be published in scientific journal publications and, if so, when and with what modifications; whether the data and results from the preclinical and clinical studies of COVAXIN™, which have been conducted by Bharat Biotech in India, will be accepted by the FDA or otherwise sufficient to support our EUA submission or planned BLA submission, assuming the clinical hold is lifted; the size, scope, timing and outcome of any additional trials or studies that we may be required to conduct to support an EUA or BLA; any additional chemistry, manufacturing, and controls information that we may be required to submit to the FDA; whether and when a BLA for COVAXIN™ will be submitted to or approved by the FDA; whether developments with respect to the COVID-19 pandemic will affect the regulatory pathway available for vaccines in the United States, Canada or other jurisdictions; market demand for COVAXIN™ in the United States or Canada; decisions by the FDA or Health Canada impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of COVAXIN™ in the United States or Canada, including development of products or therapies by other companies. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release.

Ocugen Contact: 
Ken Inchausti
Head, Investor Relations & Communications
+1 484 237 3398
ken.inchausti@ocugen.com 

Please submit investor-related inquiries to: IR@ocugen.com 

Why 2022 Investing Will Need to be Different

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	Image Credit: Marie LaFauci

Is the Tide Turning on Equity Investors?

 

The Federal Reserve has been accommodating economic growth since at least 2008. A broad stock market bet against the Fed during this 13-year period would have been like trying to swim against the tide. Only in 2018 did the market (S&P 500) have a negative return. The dip that year was in response to fiscal policies, including trade tariffs.

Last week the Fed released minutes from an FOMC meeting held three weeks earlier. These meetings are where Fed governors decide on the stance of monetary policy, making money easier or tighter within the economy. Within the minutes it was clear that the Fed viewed the job market to be near statistically peak levels; they also discussed shrinking their balance sheet. In other words, money that was put into the market to help lower rates and stimulate growth through bond purchases would be unwound by selling securities which has the effect of taking money out of the economy. One reason the market reacted so abruptly is that Fed Chairman Jerome Powell gave a statement to reporters after that meeting, as he normally does, and did not mention this seemingly important change in thought back then.

By the end of last week (January 7), the Nasdaq had fallen 4.5%, the S&P 500 had fallen 1.9%, and the Russell 2000 Small-Cap index by 2.8%. During the Fall of 2020, the Fed chairman presented inflation as not a concern, “transitory” is how he described any pricing strength. Many market watchers at the time saw inflation as more than fleeting and a potential problem. But, not unlike mentioned earlier, going against the Fed can be costly. So, the market did not react to the many forecasts of higher inflation and rates.

 

Investment Style Shifts

During the period from 2008 until the present, not all sectors or stocks participated in the strong market growth. One only has to look at a comparative chart of the energy sector to realize this. As the Fed begins to step on the economic brakes, there will be sectors and stocks that either benefit from the changed financial situation or have a strong enough product and management team to prosper despite the less accommodative stance of the Fed. Investing in the broader market may be detrimental.

Identifying the sectors poised for growth in a weakened market and the stocks within the sectors that have the greatest opportunity now has increased importance. This may be a dramatic shift for those that have been investing for only a dozen or fewer years. During this time stock fundamentals seemed less important in the selection process than just making sure one was in the market. The truth is fundamental analysis of the various industries and companies within those industries has always been important, it’s just that short-cuts like just climbing aboard an index fund for the ride were easy and rewarding.

Were likely to go through a period where strong economic news is viewed as bad because it could mean a need to accelerate rate hikes, and bad economic news is bad because the Fed isn’t likely to back off even when there are pockets of weakness.

 

Looking Forward

Very successful investors have been warning against mismatched valuations in indexed funds for a couple of years. These “mismatches” have only broadened since then. Now may be the time for those that believed indexed funds offered diversification to understand that this is less true now than ever before. Also, better understand what you’re buying and the growth potential of individual companies. For example, as of Thursday (January 6), 38% of Nasdaq stocks had fallen 50% or more from their 52-week highs. The benchmark was only down by 5.7% from its all-time high. This is because of the heavy weighting of big tech that remained strong. These stocks mask the underlying weakness of the other companies in the index. Should their massive valuations come more in line with historical norms, they could pull down the index significantly.

 

Take-Away

The tone of the last Fed meeting, based on the minutes, indicates a more rapid change in direction at the Fed. This has already roiled markets that have been benefitting from years of increasingly accommodative policy. As the tide turns, finding the sectors with the better prospects and the specific stocks within those sectors will require a little more diligence. If you have not already done so, we continue to recommend registering, at no cost, for Channelchek emails; these include research by top-ranked equity analysts and insightful articles on various industries, markets, and economic activity.

Paul Hoffman

Managing Editor, Channelchek

Suggested Reading:



Is the Index Bubble Michael Burry Warned About Still Looming?

Index Funds May Still Fall Apart over Time





Peter Lynch Echoes Michael Burry’s Warning Over Index Fund Investments

Why Michael Burry has Better Opportunity Than Cathie Wood

Sources:

www.koyfin.com

https://www.federalreserve.gov/newsevents/pressreleases/monetary20220105a.htm

https://www.barrons.com/articles/stock-market-tech-stocks-federal-reserve-51641603791

 

Stay up to date. Follow us:

 

Release – CoreCivic Awarded New Contract with the State of Arizona at the La Palma Correctional Center

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CoreCivic Awarded New Contract with the State of Arizona at the La Palma Correctional Center

Research, News, and Market Data on CoreCivic

 

BRENTWOOD, Tenn., Jan. 10, 2022 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it has been awarded a new contract with the State of Arizona for up to 2,706 adult male inmates on behalf of the Arizona Department of Corrections, Rehabilitation & Reentry (ADCRR) at the Company’s 3,060-bed La Palma Correctional Center in Eloy, Arizona.

The new management contract has an initial term of five years, with one extension option for up to five years thereafter upon mutual agreement. The Company and ADCRR are currently working on a ramp plan that is expected to begin late in the first or early in the second quarter of 2022. Upon full utilization of the new contract the Company expects to generate approximately $75 million to $85 million in annualized revenue.

“We are delighted to have again been selected by the Arizona Department of Corrections, Rehabilitation & Reentry to provide them modern correctional facility capacity and services as they transition away from and close the outdated Arizona State Prison Complex – Florence,” said Damon Hininger, CoreCivic’s President and Chief Executive Officer. “The new contract is the largest prison contract awarded to the private sector by any state in over a decade. However, it is only a small representation of the serious correctional infrastructure challenges facing state and local government around the country and the flexible solutions we can provide.”

The La Palma Correctional Center currently supports the mission of Immigration and Customs Enforcement (ICE) by caring for approximately 1,900 detainees. As the new contract with Arizona commences and state inmates are accepted at the facility, the Company expects to work closely with ICE to transfer their detainee populations to other facilities within the region.

About CoreCivic

CoreCivic is a diversified government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Forward-Looking Statements

This press release contains statements as to our beliefs and expectations of the outcome of future events that are “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy (including the United States Department of Justice, or DOJ, not renewing contracts as a result of President Biden’s Executive Order on Reforming Our Incarceration System to Eliminate the Use of Privately Operated Criminal Detention Facilities, or the Private Prison EO) (two agencies of the DOJ, the United States Federal Bureau of Prisons and the United States Marshals Service utilize our services), legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government, and the impact of any changes to immigration reform and sentencing laws (our company does not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (v) fluctuations in our operating results because of, among other things, changes in occupancy levels, competition, contract renegotiations or terminations, increases in costs of operations, fluctuations in interest rates and risks of operations; (vi) the duration of the federal government’s denial of entry at the United States southern border to asylum-seekers and anyone crossing the southern border without proper documentation or authority in an effort to contain the spread of COVID-19; (vii) government and staff responses to staff or residents testing positive for COVID-19 within public and private correctional, detention and reentry facilities, including the facilities we operate; (viii)  restrictions associated with COVID-19 that disrupt the criminal justice system, along with government policies on prosecutions and newly ordered legal restrictions that affect the number of people placed in correctional, detention, and reentry facilities, including those associated with a resurgence of COVID-19; (ix) whether revoking our REIT election, effective January 1, 2021, and our revised capital allocation strategy can be implemented in a cost effective manner that provides the expected benefits, including facilitating our planned debt reduction initiative and planned return of capital to shareholders; (x) our ability to successfully identify and consummate future development and acquisition opportunities and realize projected returns resulting therefrom; (xi) our ability, following our revocation of our REIT election, to identify and initiate service opportunities that were unavailable under the REIT structure; (xii) our ability to have met and maintained qualification for taxation as a REIT for the years we elected REIT status; and (xiii) the availability of debt and equity financing on terms that are favorable to us, or at all. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.

CoreCivic takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.

Contact: Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107

Allegiant Gold (AUXXF)(AUAU:CA) – Moving Forward at Eastside

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Friday, January 07, 2022

Allegiant Gold (AUXXF)(AUAU:CA)
Moving Forward at Eastside

Allegiant Gold is a mid-stage exploration stage company with 10 highly prospective projects in the southwest United States, including 7 projects in the State of Nevada. Allegiant’s flagship project is Eastside, a district-scale project in Nevada with inferred resources of 1.4 million gold and 8.8 million silver ounces of inferred resources and significant potential to add size and scale. The company’s shares trade on the TSX Venture Exchange under the ticker symbol “AUAU” and on the OTCQX under the ticker symbol “AUXXF.”

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

    Drilling expected to commence shortly. Reverse circulation (RC) drilling is expected to commence within two to three weeks and focus on the east pediment zone and the western high-grade anomaly and entail 30 holes to about 200 meters depth using one rig. Core drilling that is planned to define high-grade areas discovered during the most recent drill program could be delayed until May due to an eagle’s nest near the area of planned drilling. Allegiant has filed for an eagle take permit that would allow for the relocation of the eagles and nest that is near the high-grade zone. Otherwise, drilling would have to follow the eagle nesting cycle.

    More to Eastside than gold? While Eastside is a gold exploration project, Nevada is well-known for hosting lithium in its hydrographic basins.  Given that the Eastside property is prospective for lithium, particularly the Castle zone, management intends to fund studies to assess its potential. Were this to develop, opportunities could exist to eventually sell or spin-off lithium-rich areas of the …



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. 

BioSig to Present at the 27th Annual International AF Symposium

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BioSig to Present at the 27th Annual International AF Symposium

News and Market Data on BioSig Technologies

 

PURE EP (TM) System to be highlighted in a Spotlight Session by DJ Lakkireddy, M.D., Kansas City Heart Rhythm Institute at HCA Midwest Health

Westport, CT, Jan. 07, 2022 (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 the Company would be presenting at the 27th Annual International Atrial Fibrillation Symposium on January 13-15, 2022.

Clinical observations collected with BioSig’s PURE EP™ System will be presented by DJ Lakkireddy, M.D., Kansas City Heart Rhythm Institute at HCA Midwest Health during Spotlight Session: Complex AF Case Study Utilizing a New Standard in Signal Processing on January 13, 2022, from 8:30-9:30 AM ET.

“Dr. Lakkireddy is highly regarded for his passionate commitment to those suffering from complex arrhythmias and for his leadership in the field of electrophysiology, and we are thrilled to have him represent our technology at this benchmark industry event. We would like to thank the course directors, Drs. Ruskin, Mansour, Reddy, Keane, Jais, and the entire faculty for bringing the electrophysiology community together during this important industry event. We look forward to reconnecting with our physician partners and our peers as we gear up for an impactful clinical and commercial year,” commented Kenneth L. Londoner, Chairman, and CEO of BioSig Technologies, Inc.

During the event, BioSig will be exhibiting at booth 403. The Company’s executive, commercial and clinical teams will host demonstrations of the PURE EP™ System and some of its platform technology’s latest software and algorithmic features for arrhythmia care.

The conference will also be broadcast live. To register for the event and stream the live presentation, please follow this link: https://register.rcsreg.com/r2/afs2022/ga/top.html

To date, more than 73 physicians have completed over 1800 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.

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.

One in 18 Americans suffers from a cardiac arrhythmia. Atrial fibrillation is the most common arrhythmia type, affecting over 33 million people worldwide, including over 6 million in the U.S. The number of people suffering from atrial fibrillation is expected to reach 8-12 million by 20501. According to the Centers for Disease Control and Prevention (CDC), atrial fibrillation causes more than 750,000 hospitalizations in the U.S. each year, resulting in approximately $6 billion in healthcare spending annually2.

About 277h Annual International AF Symposium
This intensive, highly focused three-day symposium brings together the world’s leading medical scientists to share in a highly interactive environment the most recent advances in the field of atrial fibrillation. The primary objective of the meeting is to provide attendees with a thorough and practical course on the current state of the art in the field of atrial fibrillation in a scholarly and collegial atmosphere, as well as an opportunity to network with colleagues and faculty between sessions. More information about the event on  www.afsymposium.com.

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 Top 10 Things You should Know About Heart Rhythm; Scripps Health.

2 Managing Atrial Fibrillation; Lisa Eramom MA, Medical Economics Journal, February 25, 2019, Volume 96, Issue 4

Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
55 Greens Farms Road
Westport, CT 06880,
aballou@biosigtech.com
203-409-5444, x133

Source: BioSig Technologies, Inc.

Is There Still More Upside for Oil?

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	Image Credit: EnergyTomorrow – Drill Bit (Flickr)

Why Some Forecasters are Bullish on Oil in 2022

 

Crude oil and oil companies finished 2021 strong despite the increased Covid19 infection rate during December. Forecasters are expecting supply and demand factors to continue to put upward price pressure on crude oil, and related companies.

Background

A dip in oil prices just after Thanksgiving appeared to be in response to fears of a new Covid19 variant potentially impacting holiday travel and other economic activity.  The move reversed as we moved through December as we experienced crude prices regaining lost ground. As the first trading week of 2022 comes to a close, energy prices have continued up in response to problems in Kazakhstan, but forecasts are bullish on the commodity and the sector beyond problems in that producer country.

 

 

From a demand standpoint, consumption remained strong for oil in December. This demand could increase further as manufacturing activity has been shown to be increasing as supply chain bottlenecks are beginning to lessen.

Although large economies are showing expansion the coronavirus recovery has been full of stops and starts, there is much uncertainty as to what lies ahead. With further recovery and reduced restrictions in travel, demand should increase further.

The Energy Information Administration (EIA) is expecting the trend of inventory drawdowns to slowly reverse this year. Any inventory growth could create downward pressure on crude oil prices. The EIA is forecasting Brent Crude prices averaging $71/barrel in Q2 2022, $70/barrel in Q3 2022, and $67/barrel in Q4 2022. But with part of the increased supply expected to come from U.S. shale, there remain significant caveats to their forecast.

 

 

The supply side is less certain. At its December 2nd meeting, OPEC+ agreed to extend an increase in February of 400,000 barrels per day. It’s important to note that while OPEC+ has been increasing its output target at these meetings, actual production has fallen short as some members are struggling with capacity problems. So the announcements are viewed with the backdrop of OPEC+ producers missing their targets by 730,000 bpd in October and by 650,000 bpd in November.

In a quarterly energy industry report released this week, titled,  Energy
Stocks Level out But Pricing is Still Attractive, Senior Research Analyst, Michael Heim, CFA, at Noble Capital Markets, Inc. wrote, “Energy industry fundamentals remain strong. Energy prices are high and show no sign of decreasing.” Heim is constructive on the price of oil and the related producers, “The drilling that is being done is very profitable and that should lead to higher company profits and improved company financials. We believe small energy companies that can expand without drawing attention may be at an advantage,” said Heim. 

 

Take-Away

Oil prices remain strong and have continued to rise into 2022. Threats to production from unrest in Kazakhstan have added to potential supply concerns and the strength we have seen so far in 2022.

OPEC+ producers have been regularly falling short of their targets, there is no reason to expect this to change. As supply bottlenecks ease, demand for oil should increase, however, inventory drawdowns are tapering and are expected to eventually reverse.

The first week of 2022 has seen oil prices shoot up over 5% and oil stocks finding themselves in the strongest sector.

Paul Hoffman

Managing Editor, Channelchek

Suggested Reading:



Energy Stocks Level Out but Pricing is Still Attractive – Industry Report

Metals & Mining Fourth Quarter 2021 Review and Outlook – Industry Report





Natural Gas Protests in Kazakhstan May Impact Global Fuel Costs Across the Board

Is Thorium, Not Uranium the Future of Power Generation?

 

 

Sources:

https://www.energy.gov/fecm/articles/summary-50-million-barrel-release-strategic-petroleum-reserve

https://oilprice.com/

https://www.opec.org/opec_web/en/press_room/6766.htm

https://www.eia.gov/outlooks/steo/marketreview/crude.php

 

Stay up to date. Follow us:

 

What Works and What Doesn’t in Preventing Cybercrime?

Posted on by Admin 


	Image Credit: Element5 (Pexels)

How Cybercriminals Turn Paper Checks Stolen from Mailboxes into Bitcoin

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and opinions of David Maimon, Associate Professor of Criminal Justice and Criminology, Georgia State University.

 

While cybercrime gets a lot of attention from law enforcement and the media these days, I’ve been documenting a less high-tech threat emerging in recent months: a surge in stolen checks.

Criminals are increasingly targeting U.S. Postal Service and personal mailboxes to pilfer filled-out checks and sell them over the internet using social media platforms. The buyers then alter the payee and amount listed on the checks to rob victims’ bank accounts of thousands of dollars. While the banks themselves typically bear the financial burden and reimburse targeted accounts, criminals can use the checks to steal victims’ identities, which can have severe consequences.

I founded and now direct Georgia State University’s Evidence Based Cybersecurity Research Group, which is aimed at learning what works and what doesn’t in preventing cybercrime. For the past two years, we’ve been surveilling 60 black market communication channels on the internet to learn more about the online fraud ecosystem and gather data on it in a systematic way in order to spot trends.

One thing we didn’t expect to see was a surge in purloined checks.

 

An Old Threat Returns

In general, bank check theft is a type of fraud that involves the stealing and unauthorized cashing of a check.

It’s hardly a new phenomenon. Criminals were committing check fraud as soon as the first modern checks were cut in the 18th century in England – and the authorities were already looking for ways to prevent it.

While there’s little historical data on this type of fraud, we do know it became particularly problematic in the 1990s as the internet made finding willing buyers of illicit items easier than ever. For example, financial institutions estimated they lost about US$1 billion to check fraud from April 1996 to September 1997.

But what may seem a little surprising is that its resurgence now at a time when the vast majority of transactions are conducted electronically and check use continues to wane.

 

What Check Fraud Looks Like

Broadly speaking, the check scams we’ve been tracking look something like this:

Someone breaks into a mailbox that stores letters waiting to be sent and grabs some of them in hopes they’ll contain a check that’s been filled in. Often, the crime scene where the theft occurs is the victim’s own mailbox, but it can also be one of those blue USPS boxes you pass on the street.

Criminals can access those with a stolen or copied mailbox key, which we have seen on sale for as much as $1,000.

Thieves may deposit or cash the checks themselves or sell them on to others via a marketplace of illicit items, such as fake IDs and credit cards. Prices are typically $175 for personal checks and $250 for business ones – payable in bitcoin – but always negotiable and cheaper in bulk, based on our observations and direct interactions with the sellers.

Buyers then use nail polish remover to erase the intended payee’s name and the amount displayed on the check, replacing those details with their own preferred payee – such as a retailer – and amount, usually a lot higher than the original check. A buyer might also simply cash the check at a location like Walmart using a fake ID.

In some cases we believe criminals are using the checks to steal the victim’s identity by using their name and address to manufacture fake driver’s licenses, passports and other legal documents. Upon taking over someone’s identity, a criminal may use it to submit false applications for loans and credit cards, access the victim’s bank accounts and engage in other types of online fraud.

 

Tracking Black Market Chat Rooms

To better understand how cybercriminals operate, my team of graduate students began monitoring 60 online chat room channels where we knew people were trafficking in fraudulent documents. Examples of these types of channels are group chats on messaging apps like WhatsApp, ICQ and Telegram, in which users post pictures of items they wish to sell. Some of the channels we are monitoring are public, while others required an invitation, which we managed to procure.

After we noticed a rise in stolen checks on sale, we began systematically gathering data from those channels about six months ago in order to track the trend. We downloaded the images, coded them and then aggregated the data so we could spot trends in what was being sold.

In our observations, we came across an average of 1,325 stolen checks being sold every week in October 2021, up from 634 per week in September and 409 in August. Although little historical data on this practice exists, a one-week pilot study we conducted in October 2020 places these numbers in some perspective. Back then, we observed only 158 stolen checks during that period.

Furthermore, these figures likely only represent a small fraction of the number of checks actually being stolen and sold. We focused on only 60 markets, when in fact there are thousands currently active.

In dollar amounts, we found that the face value of the checks, as written, was $11.6 million in all of October and $10.2 million in September. But again, these values likely represent a small share of the actual amount of money being stolen from victims because criminals often rewrite the checks for much higher amounts.

 

 

Using the victims addresses, which appeared on the left top corner of the checks, and focusing on the data we collected in the month of October 2021, we found New York, Florida, Texas and California were the top sources.

How to Protect Yourself

The best advice I can give consumers who want to avoid falling victim to these schemes is to avoid mailing checks, if you can.

Bank checking accounts usually offer customers the option to send money electronically, whether to a friend or a company, for free. And there are many apps and other services that allow you to make digital payments from bank accounts or via credit card. While there are risks with these methods as well, in general they are a lot safer than writing a check and sending it in the mail.

Still, some types of businesses may require a physical check for payment, such as landlords, utilities and insurance companies. Moreover, as a matter of personal preference, some people – myself included – prefer to pay their bills using checks rather than other methods of payment.

To avoid the risk, I make sure to drop off all my letters containing checks inside my local post office. That’s generally your best bet for keeping them out of the hands of criminals and ensuring they reach their intended destination.

The United States Postal Inspection Service, the agency responsible for preventing mail theft, also offers tips to stay protected.

As for enforcement, the inspection service works with the police and others to crack down on mail-related crime. These efforts result in the arrest of thousands of mail and packages thieves every year. However, for every arrest, there are many more criminals who go undetected.

And when we informed officials of our findings, they were also surprised by what we discovered but planned to step up monitoring of these types of black market communication channels.

Our research suggests much more systematic data on this type of fraud is needed in order to better understand how it works, crack down on the activity and prevent it from occurring in the first place.

 

Suggested Reading:



After a Big Year for Cryptocurrencies, What’s on the Horizon in 2022?

Threats to Your Personal Information





Is a Zero Trust Architecture Enough?

Robinhood Will Be Adopting More Traditional Investment Programs

 

 

 

Stay up to date. Follow us:

 

What Works and What Doesnt in Preventing Cybercrime

Posted on by Admin 


	Image Credit: Element5 (Pexels)

How Cybercriminals Turn Paper Checks Stolen from Mailboxes into Bitcoin

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and opinions of David Maimon, Associate Professor of Criminal Justice and Criminology, Georgia State University.

 

While cybercrime gets a lot of attention from law enforcement and the media these days, I’ve been documenting a less high-tech threat emerging in recent months: a surge in stolen checks.

Criminals are increasingly targeting U.S. Postal Service and personal mailboxes to pilfer filled-out checks and sell them over the internet using social media platforms. The buyers then alter the payee and amount listed on the checks to rob victims’ bank accounts of thousands of dollars. While the banks themselves typically bear the financial burden and reimburse targeted accounts, criminals can use the checks to steal victims’ identities, which can have severe consequences.

I founded and now direct Georgia State University’s Evidence Based Cybersecurity Research Group, which is aimed at learning what works and what doesn’t in preventing cybercrime. For the past two years, we’ve been surveilling 60 black market communication channels on the internet to learn more about the online fraud ecosystem and gather data on it in a systematic way in order to spot trends.

One thing we didn’t expect to see was a surge in purloined checks.

 

An Old Threat Returns

In general, bank check theft is a type of fraud that involves the stealing and unauthorized cashing of a check.

It’s hardly a new phenomenon. Criminals were committing check fraud as soon as the first modern checks were cut in the 18th century in England – and the authorities were already looking for ways to prevent it.

While there’s little historical data on this type of fraud, we do know it became particularly problematic in the 1990s as the internet made finding willing buyers of illicit items easier than ever. For example, financial institutions estimated they lost about US$1 billion to check fraud from April 1996 to September 1997.

But what may seem a little surprising is that its resurgence now at a time when the vast majority of transactions are conducted electronically and check use continues to wane.

 

What Check Fraud Looks Like

Broadly speaking, the check scams we’ve been tracking look something like this:

Someone breaks into a mailbox that stores letters waiting to be sent and grabs some of them in hopes they’ll contain a check that’s been filled in. Often, the crime scene where the theft occurs is the victim’s own mailbox, but it can also be one of those blue USPS boxes you pass on the street.

Criminals can access those with a stolen or copied mailbox key, which we have seen on sale for as much as $1,000.

Thieves may deposit or cash the checks themselves or sell them on to others via a marketplace of illicit items, such as fake IDs and credit cards. Prices are typically $175 for personal checks and $250 for business ones – payable in bitcoin – but always negotiable and cheaper in bulk, based on our observations and direct interactions with the sellers.

Buyers then use nail polish remover to erase the intended payee’s name and the amount displayed on the check, replacing those details with their own preferred payee – such as a retailer – and amount, usually a lot higher than the original check. A buyer might also simply cash the check at a location like Walmart using a fake ID.

In some cases we believe criminals are using the checks to steal the victim’s identity by using their name and address to manufacture fake driver’s licenses, passports and other legal documents. Upon taking over someone’s identity, a criminal may use it to submit false applications for loans and credit cards, access the victim’s bank accounts and engage in other types of online fraud.

 

Tracking Black Market Chat Rooms

To better understand how cybercriminals operate, my team of graduate students began monitoring 60 online chat room channels where we knew people were trafficking in fraudulent documents. Examples of these types of channels are group chats on messaging apps like WhatsApp, ICQ and Telegram, in which users post pictures of items they wish to sell. Some of the channels we are monitoring are public, while others required an invitation, which we managed to procure.

After we noticed a rise in stolen checks on sale, we began systematically gathering data from those channels about six months ago in order to track the trend. We downloaded the images, coded them and then aggregated the data so we could spot trends in what was being sold.

In our observations, we came across an average of 1,325 stolen checks being sold every week in October 2021, up from 634 per week in September and 409 in August. Although little historical data on this practice exists, a one-week pilot study we conducted in October 2020 places these numbers in some perspective. Back then, we observed only 158 stolen checks during that period.

Furthermore, these figures likely only represent a small fraction of the number of checks actually being stolen and sold. We focused on only 60 markets, when in fact there are thousands currently active.

In dollar amounts, we found that the face value of the checks, as written, was $11.6 million in all of October and $10.2 million in September. But again, these values likely represent a small share of the actual amount of money being stolen from victims because criminals often rewrite the checks for much higher amounts.

 

 

Using the victims addresses, which appeared on the left top corner of the checks, and focusing on the data we collected in the month of October 2021, we found New York, Florida, Texas and California were the top sources.

How to Protect Yourself

The best advice I can give consumers who want to avoid falling victim to these schemes is to avoid mailing checks, if you can.

Bank checking accounts usually offer customers the option to send money electronically, whether to a friend or a company, for free. And there are many apps and other services that allow you to make digital payments from bank accounts or via credit card. While there are risks with these methods as well, in general they are a lot safer than writing a check and sending it in the mail.

Still, some types of businesses may require a physical check for payment, such as landlords, utilities and insurance companies. Moreover, as a matter of personal preference, some people – myself included – prefer to pay their bills using checks rather than other methods of payment.

To avoid the risk, I make sure to drop off all my letters containing checks inside my local post office. That’s generally your best bet for keeping them out of the hands of criminals and ensuring they reach their intended destination.

The United States Postal Inspection Service, the agency responsible for preventing mail theft, also offers tips to stay protected.

As for enforcement, the inspection service works with the police and others to crack down on mail-related crime. These efforts result in the arrest of thousands of mail and packages thieves every year. However, for every arrest, there are many more criminals who go undetected.

And when we informed officials of our findings, they were also surprised by what we discovered but planned to step up monitoring of these types of black market communication channels.

Our research suggests much more systematic data on this type of fraud is needed in order to better understand how it works, crack down on the activity and prevent it from occurring in the first place.

 

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Release – BioSig to Present at the 27th Annual International AF Symposium

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BioSig to Present at the 27th Annual International AF Symposium

News and Market Data on BioSig Technologies

 

PURE EP (TM) System to be highlighted in a Spotlight Session by DJ Lakkireddy, M.D., Kansas City Heart Rhythm Institute at HCA Midwest Health

Westport, CT, Jan. 07, 2022 (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 the Company would be presenting at the 27th Annual International Atrial Fibrillation Symposium on January 13-15, 2022.

Clinical observations collected with BioSig’s PURE EP™ System will be presented by DJ Lakkireddy, M.D., Kansas City Heart Rhythm Institute at HCA Midwest Health during Spotlight Session: Complex AF Case Study Utilizing a New Standard in Signal Processing on January 13, 2022, from 8:30-9:30 AM ET.

“Dr. Lakkireddy is highly regarded for his passionate commitment to those suffering from complex arrhythmias and for his leadership in the field of electrophysiology, and we are thrilled to have him represent our technology at this benchmark industry event. We would like to thank the course directors, Drs. Ruskin, Mansour, Reddy, Keane, Jais, and the entire faculty for bringing the electrophysiology community together during this important industry event. We look forward to reconnecting with our physician partners and our peers as we gear up for an impactful clinical and commercial year,” commented Kenneth L. Londoner, Chairman, and CEO of BioSig Technologies, Inc.

During the event, BioSig will be exhibiting at booth 403. The Company’s executive, commercial and clinical teams will host demonstrations of the PURE EP™ System and some of its platform technology’s latest software and algorithmic features for arrhythmia care.

The conference will also be broadcast live. To register for the event and stream the live presentation, please follow this link: https://register.rcsreg.com/r2/afs2022/ga/top.html

To date, more than 73 physicians have completed over 1800 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.

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.

One in 18 Americans suffers from a cardiac arrhythmia. Atrial fibrillation is the most common arrhythmia type, affecting over 33 million people worldwide, including over 6 million in the U.S. The number of people suffering from atrial fibrillation is expected to reach 8-12 million by 20501. According to the Centers for Disease Control and Prevention (CDC), atrial fibrillation causes more than 750,000 hospitalizations in the U.S. each year, resulting in approximately $6 billion in healthcare spending annually2.

About 277h Annual International AF Symposium
This intensive, highly focused three-day symposium brings together the world’s leading medical scientists to share in a highly interactive environment the most recent advances in the field of atrial fibrillation. The primary objective of the meeting is to provide attendees with a thorough and practical course on the current state of the art in the field of atrial fibrillation in a scholarly and collegial atmosphere, as well as an opportunity to network with colleagues and faculty between sessions. More information about the event on  www.afsymposium.com.

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 Top 10 Things You should Know About Heart Rhythm; Scripps Health.

2 Managing Atrial Fibrillation; Lisa Eramom MA, Medical Economics Journal, February 25, 2019, Volume 96, Issue 4

Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
55 Greens Farms Road
Westport, CT 06880,
aballou@biosigtech.com
203-409-5444, x133

Source: BioSig Technologies, Inc.

Update on DWAC the Trump Media SPAC

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	Image Credit: Gage Skidmore (Flickr)

The Latest on Digital World Acquisition Corp’s Progress (Trump Media SPAC Deal)

 

On October 20, 2021, the Trump Media and Technology Group entered into a definitive merger with Digital World Acquisition Corp. (DWAC). The company’s main product, still in development, is a Twitter-like platform with a promise to encourage, “an open, free, and honest global conversation without discriminating against political ideology.”

At the time the former President said, “I created TRUTH Social and video-on-demand service (TMTG+) to stand up to the tyranny of Big Tech.”

DWAC is now up over 500% from its $10 IPO price, but well off its 845% moonshot after the merger announcement in October. DWAC also filed for a $1B PIPE deal for the social media company in December.

 

 

SPAC, Digital World Acquisition Corp. skyrocketed an additional 20% yesterday (January 6). The move followed a report that the TRUTH Social app is set to be launched in February.

Truth Social’s listing on Apple’s app store has an expected start date of Feb. 21.

In December, Trump Media & Technology announced that Representative Devin Nunes (R-CA) will take the role of chief executive officer of Trump’s social media platform. The former dairy farmer has since resigned from Congress to fulfill this new role.

 

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Optionality of a Special Purpose Acquisition Company

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Sources:

https://truthsocial.com/

https://clerk.house.gov/members/CA22/vacancy

https://www.globenewswire.com/news-release/2021/12/04/2346139/0/en/Trump-Media-Technology-Group-Corp-and-Digital-World-Acquisition-Corp-Announce-1-Billion-PIPE-Investment-in-Committed-Capital-to-Fund-Business.html

https://www.dwacspac.com/

www.koyfin.com

https://seekingalpha.com/pr/18589421-congressman-devin-g-nunes-ranking-member-of-house-intelligence-committee-to-join-trump-media

 

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