Month: June 2022

Release – Onconova Therapeutics Announces Key Management Promotions

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Onconova Therapeutics Announces Key Management Promotions

News and Market Data on Onconova Therapeutics

Mark Guerin promoted to Chief
Operating Officer and Chief Financial Officer

Dr. Adar Makovski Silverstein
promoted to Senior Director and Head of Corporate Development

NEWTOWN, Pa., June 13, 2022 (GLOBE NEWSWIRE) — Onconova Therapeutics, Inc. (NASDAQ: ONTX), a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer, today announced that Mark Guerin was appointed Chief Operating Officer in addition to his current role as Onconova’s Chief Financial Officer (CFO), and that Dr. Adar Makovski Silverstein was appointed Senior Director and Head of Corporate Development. Avi Oler, Senior Vice President, Corporate Development and General Counsel, will be leaving the Company on June 17, 2022, to pursue another opportunity outside of the biotechnology sector.

“Mark and Adar have consistently displayed the skills needed to excel in their new roles and functions and I congratulate them on the recognition of the value they bring to Onconova,” said Steven M. Fruchtman, M.D., President and Chief Executive Officer of Onconova. “Expanding their responsibilities will allow us to maximize their talents and further benefit from Mark’s financial and operational expertise, as well as Adar’s scientific and business development acumen. I look forward to our continued work together as we advance towards key milestones expected across our pipeline later this year. I’d also like to thank Avi for his contributions to Onconova and wish him the best in his future endeavors.”

Mr. Guerin has worked in numerous roles at Onconova since he joined the Company in September 2013 following its initial public offering (IPO) in July 2013 and has served as Onconova’s Chief Financial Officer since September 1, 2016. Prior to joining Onconova, Mr. Guerin served as Vice President of Finance and CFO of Cardiokine, Inc. through its filing of a New Drug Application and sale to Cornerstone Therapeutics. Prior to joining Cardiokine, Mr. Guerin was Director, Financial Reporting and Internal Controls at Barrier Therapeutics, Inc., including during its IPO and follow-on offering. Mr. Guerin started his career at Coopers & Lybrand in Philadelphia. He received his bachelor’s degree in Accounting from DeSales University and has earned the CPA, CMA, and CFM professional certifications.

Dr. Makovski Silverstein joined Onconova in December 2021 from Amgen, where she worked as Sr. Licensing Associate, Business Development, External R&D. At Amgen, Dr. Makovski Silverstein was responsible for evaluating external scientific opportunities across all therapeutic areas and managing processes within business development and cross functional teams. Prior to her time at Amgen, Dr. Makovski Silverstein interned as a member of the Research Program Management Team at Regeneron. She also worked as a marketing analyst graduate student consultant at Roche Sequencing Solutions. Dr. Makovski Silverstein earned her Ph.D. in Biotechnology from Bar-Ilan University in Israel and completed a post-doctoral fellowship at the City of Hope in Duarte, California.

About Onconova Therapeutics

Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer. The Company has proprietary targeted anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation.

Onconova’s novel, proprietary multi-kinase inhibitor narazaciclib (formerly ON 123300) is being evaluated in two separate and complementary Phase 1 dose-escalation and expansion studies. These trials are currently underway in the United States and China.

Onconova’s product candidate rigosertib is being studied in an investigator-sponsored study program, including in a dose-escalation and expansion Phase 1/2a investigator-sponsored study with oral rigosertib in combination with nivolumab for patients with KRAS+ non-small cell lung cancer.

For more information, please visit www.onconova.com.

Forward-Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. These statements relate to Onconova’s expectations regarding the timing of Onconova’s and investigator-initiated clinical development and data presentation plans, and the mechanisms and indications for Onconova’s product candidates. Onconova has attempted to identify forward-looking statements by terminology including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “preliminary,” “encouraging,” “approximately” or other words that convey uncertainty of future events or outcomes. Although Onconova believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including the success and timing of Onconova’s clinical trials, investigator-initiated trials and regulatory agency and institutional review board approvals of protocols, Onconova’s collaborations, market conditions and those discussed under the heading “Risk Factors” in Onconova’s most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Any forward-looking statements contained in this release speak only as of its date. Onconova undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Company Contact:
Mark Guerin
Onconova Therapeutics, Inc.
267-759-3680

ir@onconova.us
https://www.onconova.com/contact/

Investor Contact:
Bruce Mackle
LifeSci Advisors, LLC
646-889-1200

bmackle@lifesciadvisors.com


Cathie Wood and the Risk of Trying to Get Someplace Fast

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Image Credit: Kindel Media (Pexels)


Should ARK Invest Apply a Little More Caution?

Individual fund managers come in as many different risk types as there are types of highway drivers. Some will try to get where they are going as fast as possible, even if this risks everything, and others will always drive cautiously slow. Others change their driving based on perceived conditions at the time. ARK Invest was reportedly founded by Cathie Wood after she regularly disagreed with her former employer over her lack of caution. Her boss at Alliance Bernstein recently told the Financial Times that “her biggest blind spot is managing risk and volatility.” In fairness to them both, there are two ways to run managed funds, the first is to always stay fully invested in your advertised style and let those that enter and exit change their exposure based on their own risk tolerance, and the second is to occasionally take your foot off the accelerator if there appears to be the potential to crash. Like the little old lady from Pasadena, Cathie Wood can’t take her foot off the accelerator.


Source: Koyfin

A couple of months ago, Ms.Wood was the keynote speaker at an investment conference in South Florida. Her company’s flagship fund ARK Innovation (ARKK) was down about 50%, and some of her better-known aggressive positions in future-looking tech companies like Coinbase and Robinhood had been proving themselves to be disappointments. Despite ARKKs huge fall-off in performance, she was greeted as a keynote with the kind of awe and adoration bestowed on rock stars. At the event, she doubled down on her support for her holdings. Wood had previously been forecasting that ARK Invest funds would deliver annualized returns of 15%; in April, from the podium, she told investors, “Now we think 50 percent.”

If you get in the car with a driver that insists on driving 110 mph regardless of the road conditions, you may get to where you’re going faster than driving with anyone else, you may also not ever make it.

Since her prediction of a 50% return by year’s-end, ARK Innovation is down another 34 percent.

The firm still has substantial assets under management (AUM), more than $16 billion. Her aggressive optimism and success, especially during the pandemic, had caused her AUM to have once grown to $60 billion. Almost all of her funds are full speed ahead in the riskiest investments on the market, including cryptocurrency and other new tech. Last fall, she put a $500,000 price target on bitcoin, a few months later, as bitcoin’s price sank, she raised her forecast to $1 million. In fairness, she could still be right, but her funds have lost ground over those that have been more cautious.

Wood still keeps her head down and continues pushing through any adversity, be it criticism or a market sell-off, as though she believes she’s fighting a righteous battle. “Truth will win out,” she repeatedly said on her firm’s monthly webinar in May.

For individual and even institutional investors, when investing in a fund, it’s important to recognize if the driving responsibility is on you, or on the manager. That is to say, don’t count on the manager taking risk-off in volatile markets, or putting risk on during bullish conditions. There are managed funds that hold completely true to their style and funds that try to create the best performance within the guidelines of their prospectus. The managed funds at ARK Invest would seem to be all in, all the time.

Take-Away

The benefit of placing money in a managed fund is you have a professional fund manager. One of the benefits of being active in selecting individual stock positions yourself is you can refine your portfolio more toward your own risk tolerance and adjust it at any time.

If you do place some of your assets in a fund, make sure you know what you’re buying. There are people who have watched the stock market take off only to realize their manager had been maxed out in cash and they missed the move and others that presume that their portfolio manager knew when the market was stormy and sidelined some riskier positions. 

It’s your money, know the driver, or be the driver.

Paul Hoffman

Managing Editor, Channelchek

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Sources

https://empirefinancialresearch.com/articles/rally-in-cathie-woods-fund-avoid-arkk-these-contrarian-indicators-suggest-the-bottom-is-in-my-35th-high-school-reunion

https://ark-invest.com/articles/market-commentary/innovation-stocks-are-not-in-a-bubble/

https://www.morningstar.co.uk/uk/

https://www.thestreet.com/technology/cathie-wood-makes-a-very-bold-prediction-about-tesla

https://www.cnbc.com/video/2022/04/29/watch-cnbcs-full-interview-with-ark-invests-cathie-wood.html

https://www.bloomberg.com/news/articles/2022-06-07/cathie-wood-s-asset-plunge-is-biggest-among-etf-issuers-in-2022

Stay up to date. Follow us:

 

Filament Health (FLHLF) – Collaboration Formed To Develop Additional Botanical Compounds

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Friday, June 10, 2022

Filament Health (FLHLF)
Collaboration Formed To Develop Additional Botanical Compounds

Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.

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

Filament Forms Collaboration With Jaguar Health.  Filament and Jaguar Health (JAGX, $0.35, Not Rated) have signed a Letter of Intent to develop botanical compounds for psychiatric uses.  We believe Filament’s expertise in extraction and manufacturing technologies fits well with Jaguar’s extensive research in botanical compounds. 

Research Collaboration Will Develop Products For Out-licensing.  The collaboration intends to develop psychoactive compounds for use in mental health indications, such as attention deficit hyperactivity disorder (ADHD), social anxiety disorder, and related conditions. The companies plan to license commercialization rights to drug candidates developed under the collaboration with an equal profit split….

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. 

Release – Ocugen, Inc. to Present at BIO International Convention 2022

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Ocugen, Inc. to Present at BIO International Convention 2022

Research, News, and Market Data on Ocugen

MALVERN, Pa., June 09, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene therapies, biologicals, and vaccines, today announced that Michael Shine, Ocugen’s Senior Vice President, Commercial, will present at the 2022 BIO International Convention being held in San Diego, California, from June 13-16, 2022.

The Company presentation, which is scheduled for Monday, June 13, at 4:45 p.m. PT in Meeting Room 1 of the San Diego Convention Center, will focus on Ocugen’s robust clinical pipeline, including its COVID-19 vaccine candidate, COVAXIN™ (BBV152), its modifier gene therapy programs, and its new cell therapy program, NeoCart®.

About
Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene therapies, biologicals and vaccines that improve health and offer hope for people and global communities. We are making an impact through courageous innovation, taking science in new directions in service of patients. Our breakthrough modifier gene therapy platform has the potential to treat multiple diseases with one drug and we are advancing research in other therapeutic areas to offer new options for people with unmet medical needs. Discover more at www.ocugen.com and follow us on Twitter and LinkedIn.

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 statements are subject to numerous important
factors, risks and uncertainties that may cause actual events or results to
differ materially from our current expectations. 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.

Contact
Tiberend Strategic Advisors,
Inc.
Jonathan Nugent / Daniel Kontoh-Boateng (Investor)
jnugent@tiberend.com
dboateng@tiberend.com

Dave Schemelia (Media)
dschemelia@tiberend.com


Release – Le Mans Virtual Series Returns for More Elite Esports Competition Including Award-Winning 24 Hours of Le Mans Virtual

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Le Mans Virtual Series Returns for More Elite Esports Competition Including Award-Winning 24 Hours of Le Mans Virtual

Research, News, and Market Data on Motorsport Games

THE FIVE-ROUND SERIES HAS A US $250,000 PRIZE FUND AT
STAKE AND MORE FLEXIBLE REGULATIONS FOR PRO DRIVERS

MIAMI, June 10, 2022 (GLOBE NEWSWIRE) — Le Mans Virtual
Series, a joint venture between Motorsport Games Inc. (NASDAQ: MSGM) and the Automobile
Club de l’Ouest (ACO), returns this September with more of the elite, endurance esports competition, which has attracted world motor racing champions, captured global attention and received plaudits from teams, drivers and fans alike. The announcement was made today at the official ACO annual press conference ahead of the 90th running of the 24 Hours of Le Mans.

Last year’s successful Le Mans Virtual Series culminated in a thrilling 24 Hours of Le Mans Virtual in January 2022. Multiple major motorsport manufacturers and their drivers entered teams, including Formula 1 World Champion Max Verstappen and INDYCAR Champion Alex Palou among the 200-strong driver line up. An impressive, cumulated TV and digital audience figure of more than 81 million (Source: YouGov Sport) was registered throughout its five month season.

Similar to the 2021/22 series, all five rounds of the coming series will be held online on the rFactor2 platform, including the 24 Hours of Le Mans Virtual, the climax of the premier endurance esports championship. This format allows teams to compete virtually on simulators located all around the world for a total prize fund of US $250,000. For an exciting preview, click 
HERE to view a trailer for Le Mans Virtual Series 2022.

To allow more flexibility within professional drivers’ schedules – now fully restored after the disruption of the global COVID-19 pandemic – a change has been made to the driver requirements. Teams must enter one professional driver in at least one regular round of the series (i.e., Rounds 1-4), instead of being required to drive for the full season.

The 2022/23 calendar features some of the world’s most famous and recognizable racetracks across three continents, which will challenge drivers from the real and sim worlds and thrill the millions of esports enthusiasts around the globe. New for 2022 is the season-opening 8 Hours of Bahrain, a more modern classic which fits in comfortably with the historic and legendary status of Monza, Spa, Sebring and of course, the most iconic venue of them all, Le Mans.

The rounds will be as follows:

 

Round 1

8 Hours of Bahrain, Bahrain  

September 17, 2022

 

Round 2

4 Hours of Monza, Italy

October 8, 2022

 

Round 3

6 Hours of Spa, Belgium 

November 5, 2022

 

Round 4

500 Miles of Sebring, USA 

December 3, 2022

 

Round 5

24 Hours of Le Mans Virtual   

January 14/15, 2023

 

Giving their full and continued support to the Le Mans Virtual Series will be some of the world’s best known and most prestigious brands: 
Thrustmaster as Official Hardware Partner, Rolex as Official Timepiece Partner, Total Energies as Official Energy Partner, 
Goodyear as Official Tire Partner, Algorand as Official Blockchain Partner and LEGO® Technic as Official Engineering Partner.

Pierre Fillon, President of the ACO, commented: “We are very pleased to have supported and followed the success of the Le Mans Virtual Series to date with, as its highlight, the 24 Hours of Le Mans Virtual. The link between real-life motorsport and esports is an essential element for our manufacturers and teams, and we believe it has an important role to play in attracting a new, younger audience both on and off track. We all look forward to another excellent season of esports competition.”

CEO of Le Mans Virtual Series, Gérard Neveu, said: “Last year’s Le Mans Virtual Series was extremely successful and we strive to improve each year. The audience figures and returns we saw in 2021-22 go a long way towards recognizing the support of our impressive portfolio of partners, the collaboration of elite manufacturers and the commitment of the best sim racing teams, including our current champions, Team Redline. We are confident that we will continue to attract champions from all different categories of motorsport and sim racing and that we can produce another exciting and professional esports series for the massive worldwide gaming and spectator audiences to enjoy.”

The vision for the virtual series remains to be as prestigious and recognizable as the real-world FIA World Endurance Championship, which includes the 24 Hours of Le Mans as its cornerstone event. The esports series will continue to use rFactor 2 as its platform, which is focused on the sim racing audience and provides a more authentic racing experience. Le Mans Virtual Series’ focus on increased race and strategy analysis and professional broadcasts of the races is expected to further boost fan interest and engagement. As in previous years, FIA-licensed drivers and sim racing experts compete together in the Le Mans Virtual Series in either LMP or GTE models. More details on the entry list for the Le Mans Virtual Series races, as well as when and where to watch the races, will be revealed at the beginning of September 2022.

About Le Mans Virtual Series:
Le Mans Virtual Series is a global, elite esports series made up of five rounds which bring together endurance racing and sim racing’ top teams to compete online on some of the world’s most famous racetracks. International FIA-licensed real-world drivers are teamed up with leading esports protagonists to take on endurance classics for a total prize fund of US $250,000, culminating in the prestigious 24 Hours of Le Mans Virtual. The Le Mans Virtual Series is a joint venture between leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, Motorsport Games Inc., and the Automobile Club de l’Ouest (ACO) – the creator and organizer of the world-famous 24 Hours of Le Mans and promoter of the FIA World Endurance Championship (FIA WEC). www.lemansvirtual.com

About Motorsport Games:
Motorsport Games Inc., a majority-controlled subsidiary of Motorsport Network, LLC, is a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make the joy of racing accessible to everyone. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans, rFactor 2, KartKraft and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires.

Forward-Looking Statements:
Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided by Motorsport Games Inc. (the “Company”) pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning: (i) full and continued support to the Le Mans Virtual Series from some of the world’s best known and most prestigious brands; (ii) belief that esport has an important role to play in attracting a new, younger audience both on and off track; (iii) the expectation that Le Mans Virtual Series will continue to improve each year; (iv) the expectation that Le Mans Virtual Series will continue to attract champions from all different categories of motorsport and sim racing, and that another exciting and professional esports series will be produced for the massive worldwide gaming and spectator audiences to enjoy; (v) that Le Mans Virtual Series will remain to be as prestigious and recognizable as the real-world FIA World Endurance Championship and that the 24 Hours of Le Mans will remain its cornerstone event; (vi) that the esports series will continue to use rFactor 2 as its platform, and that such platform would provide a more authentic racing experience; (vii) that the Le Mans Virtual Series’ focus on increased race and strategy analysis and professional broadcasts of the races will further boost fan interest and engagement; (viii) that FIA-licensed drivers and sim racing experts will compete together in the Le Mans Virtual Series in either LMP or GTE models; (ix) the expectation that the Company will be successful in building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires; and (x) the expected future impact of new or planned products or offerings and the timing of launching such products and offerings, including, without limitation the Company’s belief that we will deliver against our product roadmap. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) difficulties, delays or less than expected results in achieving the Company’s growth plans, objectives and expectations, such as due to a slower than anticipated economic recovery and/or the Company’s inability, in whole or in part, to continue to execute its business strategies and plans, such as due to less than anticipated customer acceptance of the Company’s new game titles, the Company’s experiencing difficulties or the inability to launch its games as planned, less than anticipated performance of the games impacting customer acceptance and sales and/or greater than anticipated costs and expenses to develop and launch its games, including, without limitation, higher than expected labor costs and, in addition to the factors set forth in (ii) through (iv) below, the Company’s continuing financial condition and ability to obtain additional debt or equity financing to meet its liquidity requirements, such as the going concern qualification on the Company’s annual audited financial statements posing difficulties in obtaining new financing on terms acceptable to the Company, or at all; (ii) difficulties, delays in or unanticipated events that may impact the timing and scope of new product launches, such as due to difficulties or delays in using its product development personnel in Russia due to the Russia invasion of Ukraine and the related sanctions and/or more restrictive sanctions rendering transacting in the region more difficult or costly and/or difficulties and/or delays arising out of any resurgence of the ongoing and prolonged COVID-19 pandemic; (iii) less than expected benefits from implementing the Company’s management strategies and/or adverse economic, market and geopolitical conditions that negatively impact industry trends, such as significant changes in the labor markets, an extended or higher than expected inflationary environment (such as the impact on consumer discretionary spending as a result of significant increases in energy and gas prices which have been increasing since early in 2020), a higher interest rate environment, tax increases impacting consumer discretionary spending and or quantitative easing that results in higher interest rates that negatively impact consumers’ discretionary spending, or adverse developments relating to the Russia invasion of Ukraine; and/or (iv) difficulties and/or delays in resolving our liquidity position, and other unanticipated difficulties in resolving our continuing financial condition and ability to obtain additional capital to meet our liquidity needs, including without limitation, difficulties in securing funding that is on commercially acceptable terms to us or at all, such as our inability to complete in whole or in part any potential debt and/or equity financing transactions, as well as any inability to achieve cost reductions and/or less than expected availability of funds under its $12 million line of credit from Motorsport Network. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional examples of such risks and uncertainties include, but are not limited to: (i) delays and higher than anticipated expenses related to the ongoing and prolonged COVID-19 pandemic, any resurgence of COVID-19 and the Russia invasion of Ukraine; (ii) Motorsport Games’ ability (or inability) to maintain existing, and to secure additional, licenses and other agreements with various racing series; (iii) Motorsport Games’ ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (iv) unanticipated operating costs, transaction costs and actual or contingent liabilities; (v) the ability to attract and retain qualified employees and key personnel; (vi) adverse effects of increased competition; (vii) changes in consumer behavior, including as a result of general economic factors, such as increased inflation, higher energy prices and higher interest rates; (viii) Motorsport Games’ ability to protect its intellectual property; and/or (ix) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on Form 10-Q filed with the SEC during 2022, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date.

Website and Social Media Disclosure:
Investors and others should note that the Company announces material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

Websites

Social Media

motorsportgames.com

Twitter: @msportgames &
@traxiongg

traxion.gg

Instagram: msportgames & traxiongg

motorsport.com

Facebook: Motorsport
Games & traxiongg

 

LinkedIn: Motorsport
Games

 

Twitch: traxiongg

 

Reddit: traxiongg

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Investors:
Ashley DeSimone
Ashley.Desimone@icrinc.com 

Press:
ASTRSK PR
motorsportgames@astrskpr.com

 


What SPACs and TV’s “Let’s Make a Deal” Have in Common

Posted on by Admin 

Image Credit: CBS


In a Declining Stock Market, SPACs Could Offer Protection

Let’s say you and a bunch of other investors pool your money and hire an acquisitions expert. This dealmaker uses the large amount of cash raised as leverage to help negotiate a great deal to acquire an existing business. The agreement with the dealmaker is, if he finds something interesting, you will all get to vote on his moving forward for you. If the vote is yes to move forward, and somehow you’re still not interested, you can individually have your money back (less expenses, plus interest earnings).

The risk is that you and the others are tying up money that may have been invested elsewhere (although you can still sell at secondary market levels). In exchange for tying up your money while the expert searches for an acquisition on the group’s behalf, if an acquisition is found you get to opt-in or out, or as mentioned, sell shares if the proposed acquisition creates a spike in share price (potential to profit). If you opt-out, or if an acquisition is not found, the agreement is you get your money back adjusted for expenses and income.

This is the essence of a Special Purpose Acquisition Company or SPAC. Participants in the original SPAC IPO may set themselves on the path to a number of decisions and opportunities along the way. In the end, they may find themselves with the question that Let’s Make a Deal players are asked by the host, “Do you want to keep the cash, or take what’s behind the curtain?” 

Keeping the Cash

As an example, two years ago the largest SPAC ever funded had an IPO at the unusual entry price of $20 per share. Typically SPAC IPOs are priced at $10 per share. There were 200 million shares at $20 sold during the IPO. The sponsor and stockholders agreed to a two-year period within which the sponsor has to target and move toward acquiring a target – or distribute to shareholders the funds held in escrow to make the purchase. 

This SPAC, Pershing Square Tontine Holdings- Class A (PSTH), is now approaching the date when it may be required to distribute the money held in escrow back to current holders of the stock. According to Part I of their Balance Sheet as of March 31, 2022 (SEC 10-Q), the Class A common stock, subject to redemption then had a value of $4,004,044,295. This is an increase from the end of the prior quarter and in excess of the $4 billion that original shareholders paid in.

If the sponsors of PSTH and Chairman and Founder of the hedge fund Pershing Square Tontine Holdings, Bill Ackman, don’t find a match in the next few weeks, they will have to distribute what is likely still over $4 billion held in escrow. This will roughly equal the $20 per share paid at the original IPO. This escrow is effectively a floor on market losses for SPAC investors that get in at the beginning and make decisions on any merger and ownership as they arise.

The money tied up for up to two years does have an opportunity cost. For example, during the duration that PSTH holders took a two-year SPAC ride and now could net almost exactly where they began, the S&P 500 rose 16%.

Behind Curtain #2 and #3

While the S&P did rise 16% since this particular stock went public, the mood of the stock market has since turned and the broader market has suffered losses of 18% so far in 2022.

Original holders of the example SPAC (Pershing Square)  may have hoped for the opportunity to one-day hold shares in stock of a world-changing company with a great future. But there are other owners as well that held it for other reasons. The stock from its first trading day rose and eventually reached a high in February 2021 of $34. For those trading the SPAC IPO, they could have beaten the market despite Pershing’s lack of success in finding an acquisition.

Since July 2021, the stock has been trading below the $20 IPO price, the capital paid in by stockholders has been earning interest in escrow, and any likely distribution may be in excess of where it has been trading for almost 12 months. This would outperform the 2022 S&P 500 returns by nearly 20%.

 

Take Away

Players chosen from the audience of Let’s Make a Deal are provided with an initial prize, often an envelope containing a few hundred dollars. They are then asked if they want to take a chance on something that may be bigger but could be worse. Their risk is limited in that they can always opt-out and know what they have (cash), or if they continue to take a chance, they may wind up with more than they came with.

SPACs are unique with a differing set of risks and potential rewards. A well-chosen name, trading secondarily near or under the original IPO price, limits the investors’ risk in a way other common stock purchases cannot. There is still potential upside as any talk of a merger or actual merger will move the price, but its price movements have low correlation to the overall market. This could be helpful with high volatility.

Particularly noteworthy, especially in a bear market, unlike the overall market potential, there is protection against it dropping substantially.

Paul Hoffman

Managing Editor, Channelchek


Suggested Reading



Hedge Funds are Still Hot on SPACs

SPAC Supply Provides Rare Opportunity





Lifecycle of a Special Purpose Acquisition Company

SPAC Investors Benefit from the Ability to Exercise Different Options

Sources

https://pstontine.com/wp-content/uploads/2020/07/Pershing-Square-Tontine-Holdings-Ltd.-Announces-4000000000-Initial-Public-Offering-at-20.00-Per-Share.pdf

https://sec.report/Document/0001193125-22-143641/#tx317290_5

https://sec.report/Document/0001398432-20-000084/

https://www.nasdaq.com/articles/pershing-square-tontine-holdings-ltd-class-a-shares-close-in-on-52-week-low-market-mover-9

https://stockanalysis.com/stocks/psth/statistics/

https://www.businesswire.com/news/home/20220609005951/en/Pershing-Square-Holdings-Ltd.-Announces-Transactions-in-Own-Shares—9-June-2022


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Avivagen Inc. (VIVXF) – What Can the Completion of Safety Studies Mean?

Posted on by Admin

Friday, June 10, 2022

Avivagen Inc. (VIVXF)
What Can the Completion of Safety Studies Mean?

Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance. It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Safety Studies. Avivagen completed a series of safety evaluations based on the oxidized beta-carotene (OxBC), a critical active ingredient in the OxC-beta product line. Results of the Avivagen-initiated toxicology study, conducted following standardized and internationally recognized protocols, provided further evidence of the safety and effectiveness of OxBC and the OxC-beta product line for use in human and animal applications.

Confidence. The toxicology test allows Avivagen to reinforce the safeness of OxC-beta through providing more formal evidence in support of regulatory approval and additional adoption in jurisdictions and applications. We believe the studies show confidence in the OxC-beta line and with the positive toxicology results, the Company adds another feather to its cap in marketing the feed additive to other countries for expansion….

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. 

Factors that Could Now Alter the Russell Final Index for 2022

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Last Week’s Russell Inclusion List Will be Tweaked on Friday

This evening (June 10) and next Friday are days the FTSE Russell Index sets aside in their annual Russell 3000 reconstitution to check their
work. On these two Fridays, The Russell posts updates to its equity index reconstitutions that had been announced last Friday. These updates and adjustments to the original lists provided could occur for a number of reasons. The reactions to stock prices impacted could be strong as these announcements (when they occur) are less predictable and not surrounded by hundreds of other companies being added or deleted. The adjustment announcements will be after 6 pm ET on June 10 and June 17. Below are some of the reasons that FTSE Russell may adjust their newly included companies just a week or two after the initial announcement.

Possible Reasons for Adjustments from the FTSE Russell
Equity Index Guidelines:

  • If an incorrect Closing Price was used, the index would determine if the index constituent still fits within the index, if not, it would replace the company.
  • It is possible for them to have used an incorrect or ineligible company and added it. If discovered, the index would change out the ticker and replace it with the next in line.
  • The currency used to evaluate the company’s market cap may have been incorrect. In this case, the error would have either overstated or understated the market cap. It is recalculated and Russell would re-order where the company stands in relationship to others.
  • Dividend ex-dates can throw a monkey wrench into calculations if not caught. The additional two Fridays give The FTSE Russell a chance to eye any oversights and adjust the index representation.
  • If there is a dividend and the incorrect amount was used to calculate, this would be backed out and recalculated. These would be redone and the company would be slotted accordingly.
  • Ticker Symbol Change, Facebook, or now say Meta just had a ticker symbol change to match the name change. While this company was already included in the larger index, the ticker will be changed to reflect the new identifier.
  • If there is a change in the company (ie: merged, acquired, large divestiture) prior to the third Friday in June, the combined/divided market-cap(s) will be recalculated and positioning adjusted. If both companies were included, it might make room for the inclusion of one more.

A complete list of the Russell index additions announced on June 3, 2021 with the preliminary add-ins can be found here. Many of the companies have already experienced “out of the ordinary” activity in their shares.

Take Away

The annual reconstitution is a significant driver of dramatic shifts in repositioned company stock prices as index portfolio managers have their required holdings adjusted for them. The initial list from FTSE Russell is largely accurate and has a big impact on stocks. Any revisions from there could provide opportunity.  It’s worth paying attention to.

Paul Hoffman

Managing Editor, Channelchek


Suggested Reading



Russell Reconstitution 2022, What Investors Should Know

About the FTSE Russell Preliminary Index Additions & Deletions Membership Lists





Has Summer Driving Season Been Cancelled by High Gas Prices?

Small-Cap Insider Buying Ratio Could Mean a Market Bottom is Near


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Both Powell and Yellen are Resolved to Clobber Bond Prices

Posted on by Admin 



Image Credit: eFile989 (Flickr)


As Fed Promises to Orchestrate a Painful Bear Market for Bonds, Stocks Could Benefit

Occasionally I catch conversations on TV, in the press, and on blog sites questioning the Fed’s resolve to fight inflation. Many still wonder if an ongoing weak stock market will cause Chairman Powell to temper his proposed tightening pace. The Fed actually has no official concern over stock prices; however, it does formally try to maintain the stability of the financial system and contain potential crises. Since the value of the financial markets impacts wealth felt by households and capital available for businesses, an argument can be made that sinking the stock market runs counter to one of its three mandates. The fed’s other two mandates are to manage inflation and supervise and regulate the banking system.

This conversation came up the other day as I heard from my son-in-law after he was being advised to allocate more money into fixed-income investments and less to stocks. The reason given by his big-name advisor is that “stocks are entering a long-term bear market.” I personally don’t know if stocks are entering a prolonged bear market or not, but neither does his advisor, such things are not knowable except in the rear view mirror — months from now. 


Source: Koyfin

What is knowable is that the institution that controls the most investments on the planet has stated they are going to crush bond prices. Actually what they said was they will be raising interest rates for the foreseeable future until they bring inflation to less than one-fourth of where it is today. Higher rates are mathematically the exact same as crushing bond prices. And the Federal Reserve has an excellent record of keeping its promises over the past two decades. Transparency and clarity while doing exactly what they say they will do have been the Fed’s M/O under Bernanke, Yellen, and now Powell.

Why then, with negative returns like we see in the chart above, and promises that we are only at the beginning of the bond bear market would an advisor suggest interest-bearing securities? If the Fed does nothing you make 3%, if they do as promised you could easily lose 10% or much more in value. 

At the start of 2022, the 10-year US treasury bond (UST10) had a yield of 1.70%, as of Friday (June 10) it hit 3.15%, which calculates to over a 13.3% decrease in price. Inflation was reported this week to be 8.60%, since we now have had a half year’s worth of data to know that inflation isn’t transitory, bond buyers will require a return of at least future expectations of inflation as their return. Is double the current yield of UST10 within the realm of possibilities? If inflation does not show signs of dropping dramatically it would be a historical oddity if it doesn’t rise to compensate investors for any loss in purchasing power while their money is tied up. 

My son-in-law showed me the exact options that were recommended to him, they were bond funds, which have an even greater set of concerns, including taxes, coupon payments, and total return. I came to realize that I am making an argument for stocks. I’m not bullish on the stock market, there are companies I like, and industries that I’m exposed to, but the market as a whole mid-year 2022 is more uncertain than normal.

The returns shown above are for various bond proxies. Inflation-linked bonds are down 6.60% which means they have underperformed inflation by 15.2%. The poor retiree that bought these has reduced their purchasing power by over 15%. Municipal bonds are down a little more than TIPS, but not as much as government bonds which is interesting since the credit rating of US Treasuries is better. US Treasuries should continue to underperform as the Fed is conducting quantitative tightening along with monetary tightening. This directly impacts treasuries to the tune of  $30 billion fewer held by the Fed each month for each June, July, and August. Then in September, they will begin reducing their treasury holdings by $60 billion each month. Hundreds of billions fewer treasuries will be held by the Fed by year-end, every dollar in par value looking for a new buyer. The treasury lost its biggest customer. 

The last on this list is an ETF I used as a proxy for corporate bonds. Corporate bonds have been loosely tracking the stock market. Up in price when stocks are up, down when stocks are down. Corporates are quoted off their similar maturity treasury (spread to treasury yield), so the overall downward pressure on treasuries is a massive headwind for corporates even if stocks should begin to take flight in the second half of the year. The additional concern with the price movement in corporates is back when rates approached were near 1% in treasuries, many fixed-income buyers, including institutions and retirees, took on more risk to get more yield. As treasury yields rise, they can upgrade the overall credit quality of their portfolio. 

Take Away

If we listen to what the Fed is telling us, and they have given us no reason not to trust them, bond yields will rise. Investors, particularly those in ETFs and bond funds, receive price changes as their return. When interest rates rise, prices go down. So far this year prices have sunk over 10% in US Gov’t bonds, and over 6.50% in TIPS, so-called Treasury Inflation-Protected Securities.

Anyone with money they want to invest that is avoiding the stock market or other asset classes like real estate, or commodities should consider that the bond market is the only asset class the very reliable Fed has told us they plan to beat up. A more advisable plan would be to selectively monitor companies and industries outside of fixed-income while they are cheaper than they have been in a while. Use Channelchek as a resource for evaluating small and microcap names, if you haven’t signed up for access to research, video content, and related articles here is the link to do it for free. 

Paul Hoffman

Managing Editor, Channelchek

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Small-Cap Stock Category Sees Most Insiders Buying Since Spring of 2020

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Leveraged and Inverse ETF Do’s and Mostly Don’ts

Index Funds Still May Fall Apart over Time


Source

www.koyfin.com

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Release – Chakana To Exhibit At The Prospectors & Developers Association Conference, Toronto

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Chakana To Exhibit At The Prospectors & Developers Association Conference, Toronto

Research, News, and Market Data on Chakana Copper

Vancouver, B.C., June 10, 2022
– Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”) is pleased to announce that it will be exhibiting at the Prospectors & Developers Association Conference (“PDAC”) at the Metro Convention Centre, 222 Bremner Blvd., Toronto, Ontario June 13 to 15, 2022.

Investors, media, stakeholders and interested parties are invited to visit Chakana at booth number #3325 while at the PDAC.

About
Chakana Copper
Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project is notable for the high-grade copper-gold-silver mineralization that is hosted in tourmaline breccia pipes. An initial inferred resource estimate for seven breccia pipes was announced in Q1 2022 (see news release dated February 23, 2022), with 6.73 Mt containing 191,000 ounces of gold, 11.7 million ounces of silver, and 130 million pounds of copper. In addition, extensive multidisciplinary exploration has defined 154 exploration targets, 18 of which have been tested to date (12%), confirming that Soledad is a large, well-endowed mineral system with strong exploration upside.  Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to copper and precious metals. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

Results of an initial resource estimate and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are available on Chakana’s profile at www.sedar.com.

Qualified
Person
David Kelley, an officer, and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON
BEHALF OF THE BOARD
(signed) “David
Kelley”
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone:  647 964 0292
Email:  
jjobin@chakanacopper.com

 


Release – Voyager State Orders Update Voyager Continues to Operate the Voyager Earn Program in all States Except Kentucky

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Voyager State Orders Update Voyager Continues to Operate the Voyager Earn Program in all States Except Kentucky

Research, News, and Market Data on Voyager Digital

June 09, 2022 04:05 PM EST

Voyager Digital Ltd. (TSX: VOYG) (OTCQX: VYGVF) (FRA:UCD2) (“Voyager” or the “Company”), through its operating subsidiaries, is at the forefront of innovation in the rapidly evolving crypto industry, and is committed to providing the best experience for its customers.

This is an update to announcements Voyager made on March 30, 2022 and April 5, 2022 regarding certain orders the Company received from the state securities divisions of several states. These orders concern only one benefit of customer accounts permitting customers to earn rewards on their balances of certain crypto assets (“Voyager Earn Program”). Since these announcements, Voyager has received additional orders from California and South Carolina with similar concerns about the Voyager Earn Program. All but one state, Kentucky, continue to permit customers to participate in the Voyager Earn Program. Voyager continues to engage in dialogue with several states in order to pursue an acceptable regulatory solution.

“It is encouraging that all states, other than Kentucky, have allowed Voyager to continue to operate the Voyager Earn Program. Based on the continued operation of the Voyager Earn Program and similar programs across the industry, I am hopeful that an acceptable path forward can be agreed upon to ensure that our customers can continue to be rewarded for their loyalty to Voyager in these inflationary times and to keep the US crypto asset industry at the forefront of crypto adoption and innovation. Voyager’s ethos has been, and will continue to be, about giving our customers the most accessible and rewarding experience possible,” said Stephen Ehrlich, CEO and co-founder of Voyager.

About
Voyager Digital Ltd.
Publicly traded, Voyager Digital Ltd.’s (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 100 different crypto assets using its easy-to-use mobile application. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com. 

Forward
Looking Statements
Certain information in this press release, including, but not limited to, statements regarding the Company’s interpretation of the orders received, the intent, terms and effectiveness of the orders, the expectation of clarification of such orders from the applicable states, the outcome of the discussions with the regulators, the timing for the imposition of restrictions and the terms of such restrictions, the impact of the orders on the other products and services offered by the Company, the success of the Company’s business strategy, future changes in laws and regulations or the interpretation thereof, the Company’s success and legal strategy in response to stat orders, future legislative change, the status and operation of the Voyager Earn Program, future growth and performance of the business, momentum in the businesses, future adoption of digital assets, and the Company’s anticipated results may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” (or the negatives) or other similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Voyager’s actual results, performance, or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward- looking statements. Moreover, Voyager operates in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for Company management to predict all risks, the interpretation or application of existing laws by regulators, nor can Voyager assess the impact of all factors on Voyager business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements Voyager may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Forward looking statements are subject to regulatory risks, regulatory actions and claims, the risk of changes of laws or the interpretation or application thereof, the risk that the global economy, industry, or the Company’s businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned, risks of compliance with laws and regulations that currently apply or become applicable to the business or the interpretation or application of laws and regulations by regulatory authorities, and those other risks contained in the Company’s public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, the ability of the Company to continue offering Voyager Earn Program and to offer products and services consistent with past offerings and continue to offer new and innovative products and services, a decline in the digital asset market or general economic conditions; changes in laws or approaches to regulation or the interpretation or application thereof, regulatory investigations, enforcement actions or other regulatory action or sanction or proceedings, the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; changes in the volatility of crypto currency, changes in demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets, cybersecurity breaches, a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions regarding the terms and conditions of the orders, its ability to continue the dialogue with the regulators, its ability to seek clarification, its ability to continue with the Voyager Earn Program, the timing for the imposition of restrictions and the terms of such restrictions, the impact of the orders on the other products and services offered by the Company, its success in responding to any orders or other regulatory enquiries, actions or claims and the applicability, interpretation and application of existing laws and regulations. Forward-looking statements, past and present performance and trends are not guarantees of future performance; accordingly, you should not put undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying assumptions, risks, and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available at www.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. The Company assumes no obligation to provide operational updates, except as required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets or in the application or interpretation of laws and regulations may not continue and readers should not put undue reliance on past performance and current trends. All figures are in U.S. dollars unless otherwise noted.

The TSX has not approved or disapproved of the information contained herein.

Press Contacts

Voyager
Digital, Ltd.
Kevin Rodriguez Investor Relations
(212) 547-8807

krodriguez@investvoyager.com

Voyager Public Relations Team
pr@investvoyager.com


Release – Comtech Telecommunications Corp. Declares $0.10 Per Common Share Quarterly Cash Dividend

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Comtech Telecommunications Corp. Declares $0.10 Per Common Share Quarterly Cash Dividend

Research, News, and Market Data on Comtech Telecommunications

MELVILLE, N.Y.–(BUSINESS WIRE)–Jun. 9, 2022– 
June 9, 2022
— 
Comtech Telecommunications Corp. (NASDAQ: CMTL) announced today that its Board of Directors declared a quarterly cash dividend of 
$0.10 per common share, payable on 
August 19, 2022
, to shareholders of record at the close of business on 
July 20, 2022. The dividend is the Company’s forty-eighth consecutive quarterly dividend. Future common stock dividends remain subject to compliance with financial covenants under the Company’s secured credit facility, as well as Board approval and certain voting rights of holders of our Series A Convertible Preferred Stock.

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtech.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

PCMTL

Investor Contact Robert Samuels robert.samuels@comtech.com
(631) 962-7102

Source: 
Comtech Telecommunications Corp.


Release – Comtech Telecommunications Corp. Announces Results for its Third Quarter of Fiscal 2022 and Updates Fiscal 2022 Financial Targets

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Comtech Telecommunications Corp. Announces Results for its Third Quarter of Fiscal 2022 and Updates Fiscal 2022 Financial Targets

Research, News, and Market Data on Comtech Telecommunications

MELVILLE, N.Y.–(BUSINESS WIRE)–Jun. 9, 2022–

June 9, 2022–Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, today announced its third quarter fiscal 2022 financial results and updated its fiscal 2022 financial targets in a letter to shareholders which is now posted to the Investor Relations section of Comtech’s website.

Investors are invited to access the third quarter fiscal 2022 shareholder letter at its web site at investor.comtech.com. A copy of the letter will also be filed with the Securities and Exchange Commission in a Form 8-K.

Comtech also intends to host a previously scheduled earnings conference call at 5:00PM ET today that is intended to be briefer but provide more time for questions and discussion. Individuals can access the conference call by dialing (800) 895-3361 (domestic) or (785) 424-1062 (international) and using the conference I.D. of “Comtech.” A replay of the conference call will be available for seven days by dialing (877) 856-8965 or (402) 220-1609. A live webcast of the call is also available at investor.comtech.com.

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in Melville, New York and with a passion for customer success, Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtech.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

View source version on 
businesswire.com: https://www.businesswire.com/news/home/20220609005896/en/

Investor Relations
Robert Samuels
631-962-7105

robert.samuels@comtech.com

Source: Comtech Telecommunications Corp.