Americas Computing Industry was Kick-Started 125 Years Ago


Image Credit: Niall Kennedy (Flickr)

The US Census Led to the First Data Processing Company Exactly 125 Years Ago – This Began America’s Computing Industry

 

This census has always been charged with political significance and continues to be. That’s clear from the controversies in the run-up to the 2020 census.

But it’s less widely known how important the census has been in developing the U.S. computer industry, a story that I tell in my book, “Republic of Numbers: Unexpected Stories of Mathematical Americans through History.” That history includes the founding of the first automated data processing company, the Tabulating Machine Company, 125 years ago on December 3, 1896.

 

Population Growth

The only use of the census clearly specified in the Constitution is to allocate seats in the House of Representatives. More populous states get more seats.

A minimalist interpretation of the census mission would require reporting only the overall population of each state. But the census has never confined itself to this.

A complicating factor emerged right at the beginning, with the Constitution’s distinction between “free persons” and “three-fifths of all other persons.” This was the Founding Fathers’ infamous mealy-mouthed compromise between those states with a large number of enslaved persons and those states where relatively few lived.

The first census, in 1790, also made nonconstitutionally mandated distinctions by age and sex. In subsequent decades, many other personal attributes were probed as well: occupational status, marital status, educational status, place of birth and so on.

As the country grew, each census required greater effort than the last, not merely to collect the data but also to compile it into usable form. The processing of the 1880 census was not completed until 1888.

It had become a mind-numbingly boring, error-prone, clerical exercise of a magnitude rarely seen.

Since the population was evidently continuing to grow at a rapid pace, those with sufficient imagination could foresee that processing the 1890 census would be gruesome indeed without some change in procedure.

 

A New Invention

John Shaw Billings, a physician assigned to assist the Census Office with compiling health statistics, had closely observed the immense tabulation efforts required to deal with the raw data of 1880. He expressed his concerns to a young mechanical engineer assisting with the census, Herman Hollerith, a recent graduate of the Columbia School of Mines.

On Sept. 23, 1884, the U.S. Patent Office recorded a submission from the 24-year-old Hollerith, titled “Art of Compiling Statistics.”

 

 

By progressively improving the ideas of this initial submission, Hollerith would decisively win an 1889 competition to improve the processing of the 1890 census.

The technological solutions devised by Hollerith involved a suite of mechanical and electrical devices. The first crucial innovation was to translate data on handwritten census tally sheets to patterns of holes punched in cards. As Hollerith phrased it, in the 1889 revision of his patent application,

“A hole is thus punched corresponding to person, then a hole according as person is a male or female, another recording whether native or foreign born, another either white or colored, &c.”

This process required developing special machinery to ensure that holes could be punched with accuracy and efficiency.

Hollerith then devised a machine to “read” the card, by probing the card with pins, so that only where there was a hole would the pin pass through the card to make an electrical connection, resulting in advance of the appropriate counter.

For example, if a card for a white male farmer passed through the machine, a counter for each of these categories would be increased by one. The card was made sturdy enough to allow passage through the card reading machine multiple times, for counting different categories or checking results.

The count proceeded so rapidly that the state-by-state numbers needed for congressional apportionment were certified before the end of November 1890.

 

This ‘mechanical punch card sorter’ was used for the 1950 census. U.S. Census Bureau

 

Rise of the Punched Card

After his census success, Hollerith went into business selling this technology. The company he founded, the Tabulating Machine Company, would, after he retired, become International Business Machines – IBM. IBM led the way in perfecting card technology for recording and tabulating large sets of data for a variety of purposes.

By the 1930s, many businesses were using cards for record-keeping procedures, such as payroll and inventory. Some data-intensive scientists, especially astronomers, were also finding the cards convenient. IBM had by then standardized an 80-column card and had developed keypunch machines that would change little for decades.

Card processing became one leg of the mighty computer industry that blossomed after World War II, and IBM for a time would be the third-largest corporation in the world. Card processing served as a scaffolding for vastly more rapid and space-efficient purely electronic computers that now dominate, with little evidence remaining of the old regime.

 

A blue IBM punch card. Gwern/Wikimedia Commons

 

Those who have grown up knowing computers only as easily portable devices, to be communicated with by the touch of a finger or even by voice, may be unfamiliar with the room-size computers of the 1950s and ’60s, where the primary means of loading data and instructions was by creating a deck of cards at a keypunch machine, and then feeding that deck into a card reader. This persisted as the default procedure for many computers well into the 1980s.

As computer pioneer Grace Murray Hopper recalled about her early career, “Back in those days, everybody was using punched cards, and they thought they’d use punched cards forever.”

Hopper had been an important member of the team that created the first commercially viable general-purpose computer, the Universal Automatic Computer, or UNIVAC, one of the card-reading behemoths. Appropriately enough, the first UNIVAC delivered, in 1951, was to the U.S. Census Bureau, still hungry to improve its data processing capabilities.

No, computer users would not use punched cards forever, but they used them through the Apollo Moon-landing program and the height of the Cold War. Hollerith would likely have recognized the direct descendants of his 1890s census machinery almost 100 years later.

 

This article was
republished with permission from 
The
Conversation
, a news site dedicated to sharing ideas
from academic experts.  It was written by and represents the thoughts of
David Lindsay Roberts, Adjunct Professor of Mathematics, Prince George’s
Community College.

 

Suggested Reading:




Edge
Computing Importance in AI Applications




Capitalizing on the New Space Race





Who Gets to Participate in Private Offerings?



Nationwide Ban on Vaccine Mandate for Healthcare Workers

 

Stay up to date. Follow us:

 

America’s Computing Industry was Kick-Started 125 Years Ago


Image Credit: Niall Kennedy (Flickr)

The US Census Led to the First Data Processing Company Exactly 125 Years Ago – This Began America’s Computing Industry

 

This census has always been charged with political significance and continues to be. That’s clear from the controversies in the run-up to the 2020 census.

But it’s less widely known how important the census has been in developing the U.S. computer industry, a story that I tell in my book, “Republic of Numbers: Unexpected Stories of Mathematical Americans through History.” That history includes the founding of the first automated data processing company, the Tabulating Machine Company, 125 years ago on December 3, 1896.

 

Population Growth

The only use of the census clearly specified in the Constitution is to allocate seats in the House of Representatives. More populous states get more seats.

A minimalist interpretation of the census mission would require reporting only the overall population of each state. But the census has never confined itself to this.

A complicating factor emerged right at the beginning, with the Constitution’s distinction between “free persons” and “three-fifths of all other persons.” This was the Founding Fathers’ infamous mealy-mouthed compromise between those states with a large number of enslaved persons and those states where relatively few lived.

The first census, in 1790, also made nonconstitutionally mandated distinctions by age and sex. In subsequent decades, many other personal attributes were probed as well: occupational status, marital status, educational status, place of birth and so on.

As the country grew, each census required greater effort than the last, not merely to collect the data but also to compile it into usable form. The processing of the 1880 census was not completed until 1888.

It had become a mind-numbingly boring, error-prone, clerical exercise of a magnitude rarely seen.

Since the population was evidently continuing to grow at a rapid pace, those with sufficient imagination could foresee that processing the 1890 census would be gruesome indeed without some change in procedure.

 

A New Invention

John Shaw Billings, a physician assigned to assist the Census Office with compiling health statistics, had closely observed the immense tabulation efforts required to deal with the raw data of 1880. He expressed his concerns to a young mechanical engineer assisting with the census, Herman Hollerith, a recent graduate of the Columbia School of Mines.

On Sept. 23, 1884, the U.S. Patent Office recorded a submission from the 24-year-old Hollerith, titled “Art of Compiling Statistics.”

 

 

By progressively improving the ideas of this initial submission, Hollerith would decisively win an 1889 competition to improve the processing of the 1890 census.

The technological solutions devised by Hollerith involved a suite of mechanical and electrical devices. The first crucial innovation was to translate data on handwritten census tally sheets to patterns of holes punched in cards. As Hollerith phrased it, in the 1889 revision of his patent application,

“A hole is thus punched corresponding to person, then a hole according as person is a male or female, another recording whether native or foreign born, another either white or colored, &c.”

This process required developing special machinery to ensure that holes could be punched with accuracy and efficiency.

Hollerith then devised a machine to “read” the card, by probing the card with pins, so that only where there was a hole would the pin pass through the card to make an electrical connection, resulting in advance of the appropriate counter.

For example, if a card for a white male farmer passed through the machine, a counter for each of these categories would be increased by one. The card was made sturdy enough to allow passage through the card reading machine multiple times, for counting different categories or checking results.

The count proceeded so rapidly that the state-by-state numbers needed for congressional apportionment were certified before the end of November 1890.

 

This ‘mechanical punch card sorter’ was used for the 1950 census. U.S. Census Bureau

 

Rise of the Punched Card

After his census success, Hollerith went into business selling this technology. The company he founded, the Tabulating Machine Company, would, after he retired, become International Business Machines – IBM. IBM led the way in perfecting card technology for recording and tabulating large sets of data for a variety of purposes.

By the 1930s, many businesses were using cards for record-keeping procedures, such as payroll and inventory. Some data-intensive scientists, especially astronomers, were also finding the cards convenient. IBM had by then standardized an 80-column card and had developed keypunch machines that would change little for decades.

Card processing became one leg of the mighty computer industry that blossomed after World War II, and IBM for a time would be the third-largest corporation in the world. Card processing served as a scaffolding for vastly more rapid and space-efficient purely electronic computers that now dominate, with little evidence remaining of the old regime.

 

A blue IBM punch card. Gwern/Wikimedia Commons

 

Those who have grown up knowing computers only as easily portable devices, to be communicated with by the touch of a finger or even by voice, may be unfamiliar with the room-size computers of the 1950s and ’60s, where the primary means of loading data and instructions was by creating a deck of cards at a keypunch machine, and then feeding that deck into a card reader. This persisted as the default procedure for many computers well into the 1980s.

As computer pioneer Grace Murray Hopper recalled about her early career, “Back in those days, everybody was using punched cards, and they thought they’d use punched cards forever.”

Hopper had been an important member of the team that created the first commercially viable general-purpose computer, the Universal Automatic Computer, or UNIVAC, one of the card-reading behemoths. Appropriately enough, the first UNIVAC delivered, in 1951, was to the U.S. Census Bureau, still hungry to improve its data processing capabilities.

No, computer users would not use punched cards forever, but they used them through the Apollo Moon-landing program and the height of the Cold War. Hollerith would likely have recognized the direct descendants of his 1890s census machinery almost 100 years later.

 

This article was
republished with permission from 
The
Conversation
, a news site dedicated to sharing ideas
from academic experts.  It was written by and represents the thoughts of
David Lindsay Roberts, Adjunct Professor of Mathematics, Prince George’s
Community College.

 

Suggested Reading:




Edge
Computing Importance in AI Applications




Capitalizing on the New Space Race





Who Gets to Participate in Private Offerings?



Nationwide Ban on Vaccine Mandate for Healthcare Workers

 

Stay up to date. Follow us:

 

QuickChek – December 3, 2021



Schwazze Announces Transformational Capital Raise, Entry Into New Mexico & Provides Business Update

Schwazze announced Transformational $95 Million Private Financing for M&A Initiatives & Further Expansion Plans

Research, News & Market Data on Schwazze

Watch recent presentation from Schwazze



Esports Entertainment Group Announces Preferred Stock Dividend

Esports Entertainment Group announced that holders of record of the Company’s 10.0% Series A Cumulative Redeemable Convertible Preferred Stock as of the close of business on December 15, 2021 will receive a cash dividend equal to $0.12 per Series A Preferred Stock share

Research, News & Market Data on Esports Entertainment

Watch recent presentation from Esports Entertainment



Comtech Welcomes new VP of Human Resources, will report Q1 2021 Results Dec 9th

Comtech Telecommunications announced the appointment of Jennie Reilly as Vice President of Human Resources, effective December 13, 2021

Comtech Telecommunications announced that it will report its first quarter of fiscal 2022 results after the market closes on Thursday, December 9, 2021

Research, News & Market Data on Comtech

Watch recent presentation from Comtech



Capstone Green Energy (NASDAQ:CGRN) Secures C600S Order For Use In Austrian Fiber Manufacturing Plant

Capstone Green Energy announced that its Distributor in Austria has been contracted by IFG Asota to provide a Combined Heat and Power system plus a 10-year Factory Protection Plan for their fiber manufacturing plant in Linz, Austria

Research, News & Market Data on Capstone

Watch recent presentation from Capstone

 

Stay up to date. Follow us:

 

Release – Comtech Telecommunications Corp. to Report First Quarter of Fiscal 2022 Results on December 9th



Comtech Telecommunications Corp. to Report First Quarter of Fiscal 2022 Results on December 9th

Research, News, and Market Data on Comtech Telecommunications

MELVILLE, N.Y.–(BUSINESS WIRE)–Dec. 3, 2021– 
December 3, 2021 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, today announced that it will report its first quarter of fiscal 2022 results after the market closes on 
Thursday, December 9, 2021.

The Company has scheduled an investor conference call for 
Thursday, December 9, 2021 at 
4:30 PM ET. Investors are invited to access a live webcast of the conference call from the investor relations section of the 
Comtech web site at www.comtechtel.com. Alternatively, investors can access the conference call by dialing (877) 830-2596 (domestic) or (785) 424-1744 (international) and using the conference I.D. of “Comtech.” A replay of the conference call will be available for seven days by dialing (888) 562-3375 or (402) 220-1134.

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.comtechtel.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.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.

DiDi is Delisting, What Does that Mean?


When Stocks Like DiDi Delist, What Happens to Shareholders?

 

DiDi Chuxing is a ridesharing giant based in China. It went public through an IPO on June 30th of this year. The offering raised a total of $4.4 billion ($14 per share). On December 2nd, DiDi announced plans to delist its shares from the New York Stock Exchange and prepare for a listing in Hong Kong, this is just five months after the Chinese-based company debuted as a publicly owned corporation. Why might they be suddenly switching gears? How does a company delist? And, what happens to the shareholders of the ADRs?

Switching Gears

DiDi’s delisting from the NYSE to catch a new ride on the Hong Kong Exchange may have resulted from intense pressure from China’s cybersecurity “watchdog.” Just days after their IPO, a probe into Didi (DIDI) was launched in China for the purpose of protecting national security and the public interest. The regulator took the costly step (to DiDi) of suspending all new user registrations on the app in China.

Reports quickly emerged in July that DiDi was looking into going private in order to satisfy Chinese authorities. This never unfolded. In a statement yesterday, the company announced, “After careful study, the company will start the work of delisting from NYSE and initiate preparation for listing in Hong Kong with immediate effect.” The company stock opened 9% lower this morning (December 3).

Shareholders of DiDi ADRs will see their shares convertible into “freely tradable shares” on another stock exchange, said the company. Didi said it would organize a shareholders meeting to vote on the issue.

How Delisting Works

Companies can become involuntarily delisted by the exchange if they fail to maintain certain standards. An example could be not maintaining the value of $1 per share or more. They may voluntarily delist if they find there is a cost-benefit analysis of either going private or moving to another exchange that can benefit either because of the company they keep on the exchange (i.e. tech stocks traditionally prefer Nasdaq) or because the listing requirements better suit their current and ongoing situation. In the case of DiDi, this move appears to remove regulatory hurdles.

What Else?

On Thursday (December 2), the U.S. Securities and Exchange Commission (SEC) finalized rules that would allow it to delist non-US companies that refuse to open their books to the U.S. regulators. China has for years rejected U.S. audits of its firms, citing national security concerns. This adds a new layer of protection for investors in markets overseen by the SEC.

On December 1st, Bloomberg reported that Beijing is set to ban the loophole that allowed companies like Alibaba and Didi to list in New York in the first place. Whether this adds value to those currently listed, reduces the pace of new listings, or has no impact remains to be seen.

Take-Away

There are a number of reasons a company may delist from a U.S. exchange. One of the least common is adherence to pressure from the company’s country of origin. The American Depository Receipts structure has been in existence since 1927, while the SEC and other countries may tighten their oversight, there are no signs that foreign listings will change very much going forward.

 

Suggested Reading:



Are ADRs Riskier than Stocks?



Publicly Traded Chinese Companies Duty to Shareholders





Are Earnings Important for Young Media Companies?



Esports Investors are Now Better Able to Evaluate Performance Comparisons

 

Sources:

https://ir.didiglobal.com/news-and-events/news/news-details/2021/DiDi-Announces-Recent-Developments/default.aspx

https://www.bloomberg.com/news/articles/2021-12-01/china-plans-to-ban-loophole-used-by-tech-firms-for-foreign-ipos

https://www.sec.gov/investor/alerts/adr-bulletin.pdf

https://www.investopedia.com/articles/small-business/012517/didi-chuxing.asp

https://www.barrons.com/articles/didi-stock-price-delisting-51638525176?mod=hp_LEAD_3

 

Stay up to date. Follow us:

 

Release – Capstone Green Energy Secures C600S Order For Use In Austrian Fiber Manufacturing Plant

 



Capstone Green Energy (NASDAQ:CGRN) Secures C600S Order For Use In Austrian Fiber Manufacturing Plant

Research, News, and Market Data on Capstone Green Energy

 

System Represents a New Energy Concept in Its Configuration To Produce Steam

VAN NUYS, CA / ACCESSWIRE / December 3, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy solutions, today announced that its Distributor in Austria and Germany, Wels Strom GmbH (www.eww.at/ueber-uns/wels-strom-gmbh) has been contracted by IFG Asota (part of the International Fibres Group) to provide a Combined Heat and Power (CHP) system plus a 10-year Factory Protection Plan for their fiber manufacturing plant in Linz, Austria.

The new system will be built around a Capstone C600S, which will provide on-site power for the facility operations and manufacturing process. It will also be configured to channel the exhaust heat to a boiler to produce steam for the plant’s production machines. This is a new energy concept for this kind of application as the exhaust gas is fed to the waste heat flue of the steam boiler via an exhaust pipe. In order to use the residual heat after the waste heat flue, IFG Asota will install a new low-temperature system for the production.

IFG Asota selected Capstone’s energy system for the various ways the technology supports the company’s sustainability commitment. The combination of the energy system and steam boiler provides a highly efficient, low emissions solution. Further, a portion of the fuel used by the Capstone system will be hydrogen, which is considered a renewable resource that produces no CO2 emissions.

The contract includes Capstone’s 10-year Factory Protection plan, or FPP, a comprehensive maintenance program designed to give financial peace of mind to Capstone customers by providing product life cycle costs at a fixed rate for both scheduled and unscheduled maintenance for the life of the energy system. The FPP also protects customers from potentially dramatic future increases in life cycle costs associated with changes in replacement spare parts pricing, commodity price increases, import tariffs, and interest rate changes.

“We look forward to building a highly efficient and sustainable energy supply together with IFG Asota,” said Christian Steininger, Head of Energy Solutions Sales at Wels Strom GmbH.

“Manufacturing plants like IFG Asota’s have enormous potential for realizing the cost, efficiency, and sustainability benefits,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy. “While different sectors and different sites have their own unique processes and needs, our energy systems are highly adaptable and can be configured to maximize existing resources or leverage new ones.”

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.

For more information about the Company, please visit TwitterLinkedInInstagramFacebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Release – Comtech Welcomes Jennie Reilly as Vice President of Human Resources



Comtech Welcomes Jennie Reilly as Vice President of Human Resources

Research, News, and Market Data on Comtech Telecommunications

 

Key Hire to Provide Leadership for All HR Initiatives as Comtech Continues Its Growth Strategy

MELVILLE, N.Y.–(BUSINESS WIRE)–Dec. 3, 2021– 
December 3, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, today announced the appointment of  Jennie Reilly as Vice President of Human Resources, effective 
December 13, 2021. Reilly will oversee the execution of a company-wide HR talent strategy, and will report directly to incoming CEO  Michael Porcelain.

“Jennie is a proven leader, experienced in both building robust Human Resources teams, and finding and retaining talented people. She will be a key addition for 
Comtech as we make significant and ongoing strategic investments in our human capital to position ourselves for the opportunities we see ahead of us,” said  Michael Porcelain, incoming CEO.

“Comtech is growing and changing, and I’m thrilled to join the company at this transformative time,” said Reilly. “Under Michael’s leadership, there is a clear need to ensure 
Comtech has the internal infrastructure necessary to meet the needs of customers and markets, especially as they manage industry-wide cycles of significant change.”

Jennie brings two decades of experience in advising leadership teams and guiding organizations through large-scale transformations and periods of accelerated growth, most recently at 
Piping Rock Health Products and TheraCare.

“Comtech must be prepared for the acceleration of long-term demand drivers in our company’s key end markets, and we’re doing exactly that,” continued Porcelain. “Jennie’s appointment to bolster our HR and talent strategy functions represents another step in strengthening our competitive position, along with new leadership, our refreshed Board, and the recent 
$100 million investment to fund our strategic initiatives. It’s an exciting time to be at Comtech.”

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.comtechtel.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.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.

Release – Schwazze Announces Transformational Capital Raise Entry Into New Mexico Provides Business Update



Schwazze Announces Transformational Capital Raise, Entry Into New Mexico & Provides Business Update

Research, News, and Market Data on Schwazze

 

Transformational $95 Million Private Financing for M&A Initiatives & Further Expansion Plans

Signs Definitive Agreement to Acquire & Manage New Mexico Assets: Reynold Greenleaf & Associates, R. Greenleaf Organics, Medzen Services, Elemental Kitchen & Laboratories  

Schwazze Transitions to a Regional Operator with New Mexico Acquisitions

DENVER, Dec. 3, 2021 /CNW/ – Schwazze, (OTCQX:SHWZ) (“Schwazze” or the “Company”), one of the largest vertically integrated cannabis operators in Colorado, has entered into a securities purchase agreement with institutional investors and individuals under which the Company will issue and sell, subject to customary closing conditions, $95 million of principal amount and $93 million of funding amount (reflecting a 2% original issue discount) of convertible notes.  The Company anticipates using the proceeds from the note to fund the cash consideration of recently announced acquisitions and other growth and expansion initiatives.

The notes will accrue 13% interest per year (9% payable in cash and 4% accreting to the principal amount), have a 5-year term and will be secured by a first lien on the unencumbered assets and a second lien on the encumbered assets of the Company and its subsidiaries.  The note will be convertible into shares of the Company’s common stock at any time at a conversion price  to be set upon issuance equal to 117.5% of the lower of the volume weighted average of the closing prices of the Company’s common stock during (i) five trading days before the date on which the Company entered into a binding commitment to issue the notes, (ii) 30 trading days before the date of issuance of the notes and (iii) five trading days before the date of issuance of the notes.  The Company will have a right to redeem the notes at any time, subject to a prepayment penalty. The Company expects to issue and sell the notes within a week.

The foregoing is not a complete description of all the terms of the notes and the financing and additional information will be made available in an 8-K filing with the Securities and Exchange Commission.

New Mexico
Schwazze is also pleased to announce that it has signed definitive documents to acquire substantially all the operating assets of Reynold Greenleaf & Associates, LLC, and the equity of Elemental Kitchen & Laboratories, LLC. As part of the transaction, the Company will also have a right to purchase or acquire cannabis licenses held by Medzen Services, Inc., (“Medzen”) and R. Greenleaf Organics, Inc. (“RGO”), not-for-profit organizations that hold medical cannabis licenses in New Mexico (the assets and licenses described herein are referenced collectively as “Greenleaf’). Total consideration for the acquisition will be $42 million (subject to potential working capital adjustments) with a potential performance based earnout. The consideration will consist of $25 million in cash payable at closing and $17 million in a 3-year seller note at 5% interest.

Greenleaf is a licensed medical cannabis provider with ten dispensaries, four cultivation facilities – three operating and one in development – and one manufacturing location.  The dispensaries are located in Albuquerque, Santa Fe, Roswell, Las Cruces, Grants and Las Vegas, New Mexico.  Greenleaf’s approximately 70,000 square feet of cultivation as well as 6,000 square feet of manufacturing space are located in Albuquerque.  The State of New Mexico currently allows medical cannabis and has approved adult use recreational cannabis sales which by law begin no later than April 2022. 

The acquisition is targeted to close within the next quarter, subject to closing conditions and covenants customary for this type of transaction, including, obtaining applicable New Mexico Regulation and Licensing Department (RLD) approvals.  With this acquisition, Schwazze will become a multi-state operator (“MSO”) with a total of 32 announced and acquired dispensaries, seven cultivation facilities and two manufacturing operations located in either Colorado or New Mexico.

We appreciate the strong support from our group of institutional investors that believe in our differentiated strategy and in our ability to execute.  We believe this capital will support Schwazze in meeting its growth target to double pro-forma revenue by the end of Q1 2022. The Company will continue to aggressively pursue expansion and operating plans in Colorado going forward exemplified by the recently announced acquisitions of Emerald Fields and Smoking Gun dispensaries.  Our planned expansion into New Mexico is a logical step in building a strong foundation in a region that will leverage synergies from our operating playbook and talent.  Entering New Mexico will elevate Schwazze into the MSO category but with a differentiated regional focus.  We believe our playbook will have similar success in New Mexico, which is poised for rapid expansion in 2022 and 2023 as the market opens for adult use consumption.  We welcome the Greenleaf team members to Schwazze and are excited about our future together,” stated Justin Dye, CEO & Chairman.

Corporate Update
Since April 2020, Schwazze has announced and/or acquired a total of 32 cannabis dispensaries, including the ten Greenleaf New Mexico dispensaries.  The Company has also announced and/or acquired in 2021 a total of seven cultivation facilities, three in Colorado – SCG Holding LLC, Brow 2 LLC and Star Buds – and four licensed by Medzen and RGO in New Mexico.  The Greenleaf acquisition will add a New Mexico manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the Company’s manufacturing plant, Purplebee’s in Colorado. See Figure #1, outlining Schwazze’s existing or pending dispensary assets.

In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.

Advisors 
Perella Weinberg Partners LP is serving as financial advisor to Schwazze and The Benchmark Company, LLC is acting as sole placement agent for the offering. Schwazze was represented by Brownstein Hyatt Farber Schreck, LLP on legal matters in connection with the offer and sale of the notes and was represented by Dentons on legal matters relating to the New Mexico transaction.

Figure #1 (CNW Group/Medicine Man Technologies, Inc.)

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

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

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

SOURCE Medicine Man Technologies, Inc.

Garibaldi Resources (GGIFF)(GGI:CA) – Expectations are Running High

Friday, December 03, 2021

Garibaldi Resources (GGIFF)(GGI:CA)
Expectations are Running High

Garibaldi Resources Corp is a Canadian-based junior exploration company. It is engaged in the acquisition, exploration, and evaluation of mineral properties located in Canada and Mexico. The company’s projects in Mexico include the La Patilla, the Rodadero, the Tonichi and the Iris project. Its projects in Canada include the PSP and King projects, The Cariboo Copper and Gold project, the Red Lion project, the Grizzly project, the Tora Tora project and the Black Gold project.

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 completed at Casper. Garibaldi has completed drilling 5 holes at the Casper quartz gold vein target north of Nickel Mountain. The goal is to locate the source of the high-grade gold veins and gold bearing volcanic rock. Recall that four shallow diamond drill holes tested the Casper quartz vein discovery in December 2020 with each hole intercepting mineralization. Rock samples were found to exceed 1.0 gram per tonne extending along trend for 330 meters within a 500-meter-wide gold-in-soil anomaly. The company is awaiting assay results.

    Geophysical results expected shortly.  Garibaldi is expecting final 3-D Z-Axis Tipper electromagnetic (ZTEM) interpretation of a survey that was completed over the entire Eskay Claim Group. Preliminary 2-D ZTEM survey data identified several targets across the E&L and Palm Springs property that are near drill ready targets. The ZTEM survey will help to define, rank, and prioritize deeper conductive …



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 – Esports Entertainment Group Announces Preferred Stock Dividend

 


Esports Entertainment Group Announces Preferred Stock Dividend

Research, News, and Market Data on eSports Entertainment Group

 

Hoboken, New Jersey–(Newsfile Corp. – December 3, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) is pleased to announce that the holders of record of the Company’s 10.0% Series A Cumulative Redeemable Convertible Preferred Stock (the “Series A Preferred Stock”) as of the close of business on December 15, 2021 will receive a cash dividend equal to $0.12 per Series A Preferred Stock share. The cash dividend will be paid on December 31, 2021.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

The GEO Group Inc. (GEO) – Changing Corporate Structure

Friday, December 03, 2021

The GEO Group, Inc. (GEO)
Changing Corporate Structure

With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.

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.

    Adopting C-Corp. In a not unexpected development, The GEO Group will become a taxable C-Corp., foregoing the existing REIT structure. The adoption is effective for the year ending December 31, 2021. The Company’s Board also voted to discontinue GEO’s quarterly dividend. The dividend was suspended this past April when management decided to explore changes to the corporate structure.

    Near-term Impact.  Given the 2021 effective date, during the fourth quarter GEO will incur a one-time, non-cash deferred tax charge of about $75 million and also expects to incur approximately $34 million in incremental tax expense due to the resulting higher corporate tax rate for 2021. The fourth quarter tax expense includes about $26 million in connection with the first three quarters of 2021 …



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. 

Kandi Technologies Group (KNDI) – A Sweet Way To Invest in the EV Market

Thursday, December 02, 2021

Kandi Technologies Group, Inc. (KNDI)
A Sweet Way To Invest in the EV Market

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Technologies Group Co., Ltd. (“Zhejiang Kandi Technologies”), formerly, Zhejiang Kandi Vehicles Co., Ltd.) and its subsidiaries including Zhejiang Kandi Smart Battery Swap Technology Co., Ltd, and SC Autosports, LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in the United States, and its wholly-owned subsidiary, Kandi America Investment, LLC. Zhejiang Kandi Technologies has established itself as one of China’s leading manufacturers of pure electric vehicle parts and off-road vehicles.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

    High expected sales growth due to growing acceptance of electric transportation. Increased environmental consciousness and a developing infrastructure of battery charging stations should result in a growing adoption of electric-powered cars, ATVs and bikes. We believe Kandi serves a unique niche in the market providing low-cost vehicles for short distance usage and other electric transportation devices. We look for growth at or above national electric car sales growth projections of 30% CAGR over the next ten years.

    Diverse business lines protect against technological or consumer preference changes.  Kandi has five business lines involved in Electric Vehicles, EV Parts, Off-road vehicles & ATVs, Scooters and Bikes, and Battery Swap Technology. A diverse line of businesses protects against decreased profitability in any one line that could arise from technological or consumer preference changes …



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 – Cocrystal Pharma to Discuss Progress with COVID-19 Antiviral Programs and Clinical Strategy During Noble Capital Markets Channelchek Virtual Roadshow


Cocrystal Pharma to Discuss Progress with COVID-19 Antiviral Programs and Clinical Strategy During Noble Capital Markets’ Channelchek Virtual Roadshow

 

BOTHELL, Wash., Dec. 02, 2021 (GLOBE NEWSWIRE) — Cocrystal Pharma, Inc. (Nasdaq: COCP) (“Cocrystal” or the “Company”) announces that President and interim CEO Sam Lee, Ph.D. and CFO and interim CEO James Martin will present a company overview in the Noble Capital Markets Virtual Roadshow Series presented by Channelchek. The live presentation will be by webcast on Wednesday, December 8, 2021 at 1:00 p.m. Eastern time (10:00 a.m. Pacific time). Registration for the webcast presentation is available here.

The Cocrystal company overview will be followed by a question-and-answer session moderated by Noble Capital Markets Senior Research analyst Robert LeBoyer and will feature questions submitted by the audience. A replay of the webcast will be available within three business days of the live presentation.

“We are working diligently toward initiating clinical studies in 2022 with two promising COVID-19 protease inhibitors,” said Dr. Lee. “Our antiviral inhibitors have shown broad-spectrum activity in vitro against COVID-19 and its variants, including the now predominant Delta variant. We further intend to use our unique structure-based technology platform to demonstrate antiviral activity against newly emerging variants such as Omicron, which is more complex given its many mutations.”

Cocrystal is waiting for response from the FDA on its pre-Investigational New Drug (IND) briefing packaging for CDI-45205, its COVID-19 protease inhibitor for intranasal/pulmonary delivery. The company plans to submit a second briefing package to the FDA, this one for its orally administered COVID-19 protease inhibitor, in the first half of 2022. In a third COVID-19 program, Cocrystal is using its unique structure-based technology platform to discover COVID-19 replication inhibitors for oral administration.

About Noble Capital Markets
Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small / microcap companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 36 years, Noble has raised billions of dollars for these companies and published more than 45,000 equity research reports. More information is available at www.noblecapitalmarkets.com or via email at contact@noblecapitalmarkets.com.

About Channelchek
Channelchek (www.channelchek.com) is a comprehensive investor-centric portal featuring more than 6,000 emerging growth companies that provides advanced market data, independent research, balanced news, video webcasts, exclusive c-suite interviews, and access to virtual road shows. The site is available to the public at every level without cost or obligation. Research on Channelchek is provided by Noble Capital Markets, Inc., an SEC / FINRA registered broker-dealer since 1984. For more information email contact@channelchek.com.

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

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our goals of initiating clinical studies and submitting a briefing package to the FDA in 2022, our attempts to discover replication inhibitors, and the potential efficacy of antiviral inhibitors against existing and new variants of COVID-19. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events. Some or all of the events anticipated by these forward-looking statements may not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to, the risks arising from supply chain disruptions on our ability to obtain products including raw materials and test animals as well as similar problems with our vendors and our current CRO and future CROs and CMOs, the impact of the COVID-19 pandemic including new variants on the national and global economy, the cooperation of the FDA in accelerating development in our COVID-19 program, our collaboration partners’ technology and software performing as expected, the results of future preclinical and clinical trials, general risks arising from clinical trials, receipt of regulatory approvals, regulatory changes, and development of effective treatments and/or vaccines by competitors, including as part of the programs financed by the U.S. government. Further information on our risk factors is contained in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

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

Source: Cocrystal Pharma, Inc.