Author: News Direct

–News Direct–

By Meg Flippin, Benzinga

BitFuFu Inc. (NASDAQ: FUFU), the digital asset mining company based in Singapore, posted first-quarter revenue that soared 149% year-over-year, buoyed by strong demand for its Bitcoin mining services.

For the first three months of the year, total revenue was $144.4 million compared to $58 million in the year-ago first quarter. Net income of $35.3 million was much higher than the $2.7 million reported in Q1 2023 while adjusted EBITDA increased 430.9% to $49.4 million. Revenue from BitFuFus cloud-mining solutions rose 181% year-over-year, while sales from Bitcoin self-mining operations grew 117%. The companys cash position also increased, hitting $163.7 million as of the end of March. BitFuFu ended 2023 with $76 million in its coffers.

BitFuFu had a very strong quarter. We are actively taking steps to reduce operational costs, increase margins and decrease our carbon footprint. Our ability to generate cash and strengthen our balance sheet ideally positions us to capitalize on growth opportunities going forward, Leo Lu, BitFuFus chairman and CEO, said on a conference call to discuss first-quarter results with Wall Street. These factors combine to form what we believe is a compelling strategy that will create long-term sustainable shareholder value.

Key Areas Firing On All Cylinders

During the quarter, BitFuFu saw strong growth in key business areas, including registered users, hosting capacity and Bitcoin production by customers. Hosting capacity is up 25.5% to 644 MW, while registered users hit 321,184, a 63.5% increase from last years first quarter.

The growth in cloud registered users is notable given the market is concentrated with the top five players accounting for 75% of the market in terms of revenue last year, according to data BitFuFu cited from Frost & Sullivan. BitFuFu's ability to increase users amid intense competition is a testament to its leadership. The company says it's the largest player in this segment, accounting for a third of the market in 2023.

That may appeal to investors, given the growth of BitFuFus U.S. counterparts. Take Riot Platforms Inc. (NASDAQ: RIOT) for starters. The company, which is known for keeping costs for customers at bay, is in acquisition mode, recently offering $930 million to acquire bitcoin miner Bitfarms Ltd. (NASDAQ: BITF). Then there is Marathon Digital Holdings Inc. (NASDAQ: MARA), which has seen bitcoin mining output growth similar to BitFuFu. Its stock is up more than 120% compared to a year ago. The same story is playing out at Cleanspark Inc. (NASDAQ: CLSK). Amid brisk demand, its market cap stands at over $4 billion. BitFuFus market cap pales in comparison but that may not be for too long if the company has its way.

BitFuFu has experienced significant growth over the past four years as the value proposition of our cloud mining services increasingly gains traction. The one-stop service we provided to customers is a more efficient and convenient way for customers to mine Bitcoin, and a more profitable way for them to acquire Bitcoin at reasonable cost, said Lu. During the first quarter, demand for cloud mining services continued to grow, driven in large part by the increase in the price of Bitcoin. Bitcoin production by customers from cloud-mining solutions increased 53.0% to 2,096 BTCs. Meanwhile, the cost to mine BTC from self-mining operations averaged $39,182 per BTC versus US$21,908 per BTC in 2023. Total mining capacity under management increased 52.1% to a record 28.6 EH/s, compared to 18.8 EH/S during Q1 2023.

Given its position in the market, Lu said the company is confident in its ability to continue growing revenue as it acquires more users (both registered and paying) and expands the number of miners with the strong support of its long-term partner Bitmain Technologies Ltd., which makes Bitcoin mining hardware. Reputation is everything in the cloud mining industry, and counting Bitmain as an exclusive partner gives BitFuFu even more credibility.

Keeping Costs At Bay

When it comes to running a cloud mining company, keeping costs in line is key to profitability, and BitFuFu kept a focus on it even during the quarter. Take its hosting capacity for one example. Lu said on the call the company is reducing hosting and power costs by exploring opportunities to acquire existing facilities or build new mining infrastructure in the U.S. and other geographies. We are currently in negotiations with operators of existing mining facilities on the potential for joint ventures or acquisitions. We are also considering greenfield projects. Some of these projects have made meaningful progress and are in the final stages, said Lu.

Then theres its pursuit of future power supply resources and renewable energy to support its efforts to reduce operational costs, increase revenue streams and achieve carbon-neutral operations. To hedge against grid dependency and the fluctuating cost of power, which Lu said is crucial to stabilizing operations, BitFuFu is exploring off-grid opportunities including flare gas, which to date is underutilized by the industry. We are excited to announce the launch of our first small-scale flare gas deployment in Texas in partnership with one of the region's most proactive developers, said BitFuFus CEO. Following a successful proof-of-concept, we expect the project to be fully operational by the end of 2024 where it will lower our mining costs and increase our gross margins.

Expanding Its Offering

If that isnt enough for the mining services company, BitFuFu is ensuring it continues to drive growth across its business by expanding into new products and services that will benefit the overall industry and make BitFuFu more money. One example is a mining facility management system BitFuFu built for mining facilities it and its partners operate. Currently, the system manages over 50,000 mining rigs and helps the company enhance and refine miner management, including through the timely detection of mining rig failures and potential risks and the ability to directly adjust the operating mode of the machines to optimize their profitability. In the future, by providing this system to more mining facilities and partners, we believe we can increase BitFuFu's brand recognition and expand our partnerships and resources, said Lu.

When it comes to mining for digital assets through the cloud, speed, reliability and reputation are key to making money. Most are looking for a secure provider that will be around for the long haul. BitFuFu seems to check off all the boxes, and judging from its first-quarter earnings results, customers agree.

Featured photo by Kanchanara on Unsplash.

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Benzinga

COMTEX_453109875/2655/2024-05-30T08:37:15

–News Direct–

By Mangeet Kaur Bouns

The growth of electrification and government mandates for electric vehicles (EVs) have created much excitement around beneficiary industries in recent times, with demand for the metals that will be needed for batteries to power these automobiles and initiatives such as lithium rising.

Although the initial excitement may have cooled, forecasts still point to a robust demand for lithium by 2030. As the world transitions toward greener and more sustainable energy sources, the demand for lithium is projected to rebound, driven by its critical role in various high-tech and green energy applications.

Atlas Lithium Corporation (NASDAQ: ATLX), with its extensive project portfolio and strategic investments, has positioned itself to capitalize on this rising demand, particularly through its operations in Brazil's prolific Lithium Valley.

The Critical Role Of Lithium In Modern Life

Lithium is indispensable in modern technology. From EVs to smartphones, laptops and renewable energy storage systems, lithium-ion batteries are at the core of the green energy revolution. These batteries not only power our daily devices but also play a vital role in reducing carbon emissions by supporting the transition from fossil fuels to renewable energy sources.

Central to reducing greenhouse gas emissions, EVs rely heavily on lithium-ion batteries. These batteries provide the necessary energy storage for EVs, making them key in the shift toward sustainable transportation. Additionally, lithium batteries are crucial for storing energy generated from renewable sources like wind and solar, ensuring a reliable and stable power supply even when the sun isnt shining or the wind isnt blowing.

Market forecasts highlight the burgeoning demand for lithium. Fastmarkets projects a 487% increase in lithium demand in the U.S. by 2030, reaching almost 412,000 tonnes of lithium carbonate equivalent. Similarly, Future Market Insights expects the lithium-ion battery material market to expand at a compound annual growth rate (CAGR) of 23.9% from 2024 to 2034 to reach $371 billion. This growth is expected to be supported by government incentives like the Inflation Reduction Act (IRA) in the U.S., which boosts the economics of battery production through substantial credits.

Atlas Lithiums Extensive Project Portfolio

Atlas Lithium is well-positioned to capitalize on this growing demand. With a market capitalization of close to $230 million, this U.S.-based mineral exploration and development company focuses on lithium and other battery minerals. Its lithium exploration properties span an impressive 539 square kilometers, which the company says is the largest in Brazil.

The companys primary asset is the Minas Gerais Lithium Project (MGLP) in Brazil, which houses the worlds fifth-largest lithium reserves. The MGLP covers approximately 468 square kilometers and comprises 85 mineral rights. This project is situated in the Jequitinhonha Valley, known as Brazils Lithium Valley, a region rich in hard-rock lithium deposits, particularly pegmatites, which allow for cost-effective extraction compared to lithium from brines.

In addition to lithium, Atlas Lithiums portfolio includes early-stage projects and properties with other critical minerals such as rare earths, nickel, cobalt, titanium and graphite. These minerals are essential for the battery supply chain and various high-tech applications, further enhancing the company's strategic positioning in the market.

Securing Funding Through Strategic Partnerships

Atlas Lithium has secured substantial funding and strategic partnerships to advance its projects. The companys high-quality spodumene has attracted interest from global investors and partners. Atlas Lithium has secured offtake agreements with Chengxin Lithium Group and Yahua Industrial Group, which supply lithium hydroxide to major EV manufacturers like BYD Company (OTC: BYDDY) and Tesla Inc. (NASDAQ: TSLA). These agreements commit a total of $50 million investments, ensuring funding for the first production phase in 2024.

In March this year, Atlas Lithium strengthened its financial position through a strategic investment and offtake agreement with Mitsui & Co., Ltd. (OTC: MITSF). Mitsui invested $30 million in Atlas Lithium's common shares and agreed to purchase 15,000 tons of lithium concentrate from phase 1 and 60,000 tons annually for five years from phase 2 of the companys soon-to-be-producing Neves Project.

Chairperson and CEO Marc Fogassa highlighted the company's progress, stating that Atlas is on track to become the second high-grade lithium concentrate producer in Minas Gerais. Using advanced Dense Media Separation (DMS) technology, Atlas aims to produce up to 150,000 metric tons per year of battery-grade spodumene in phase 1, with plans to double this capacity by mid-2025.

Progress Toward Production And Environmental Sustainability

Atlas Lithium is making strides toward commissioning its modular DMS lithium processing plant, which is expected to be operational by the fourth quarter of 2024. The company says the innovative plant design is environment-friendly, featuring a compact, pre-assembled modular structure that reduces the overall physical footprint and environmental impact.

The companys technical team, with extensive experience from previous lithium projects in Australia, South Africa and Brazil, is spearheading this accelerated development. The plant, significantly lighter and more compact than traditional DMS facilities, is poised to streamline the path to production and revenue generation.

Earlier this month, the companys modular DMS lithium processing plant entered the final stages of fabrication and trial assembly in preparation for its anticipated shipment to the Neves project site in Brazils Lithium Valley.

Meeting Global Lithium Demand

Despite some challenges, such as recently declined lithium prices and market volatility, the long-term outlook for lithium remains strong. Experts predict that prices will stabilize and eventually rise as the market adjusts to the growing demand driven by EV adoption and global decarbonization efforts.

Atlas Lithiums comprehensive project portfolio and strategic advancements position it as a key player in meeting this demand. The company's extensive mineral rights, efficient processing technologies and solid financial backing ensure its future capability to supply high-quality, low-cost lithium concentrate to the global market.

As the world transitions toward greener energy sources, aiming to achieve net zero emissions by 2050, Atlas Lithiums pivotal role in the green energy revolution could become increasingly apparent.

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Benzinga

COMTEX_453109614/2655/2024-05-30T08:29:18

–News Direct–

Disemminated on behalf of Gladiator Metals Corp.

Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF) is a mineral exploration company focused on advancing high-grade copper projects. With a strategic emphasis on the Whitehorse Copper Belt in Yukon, Canada, Gladiator is committed to uncovering and developing significant copper resources. The company's exploration efforts have already identified promising copper skarn mineralization at Cowley Park and the newly staked Jackson Copper Skarn prospect.

Gladiators team leverages historical data and modern exploration techniques to expand their resource base, aiming to create substantial value for shareholders through the discovery and development of high-grade copper assets.

Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF) has recently expanded its Whitehorse Copper Project by staking 55 new claims, adding 11.3 km of tenure to encompass the Jackson Copper-Skarn prospect. This new prospect lies 15 km west of the existing claims and covers over 6 km of prospective strike between Cretaceous intrusive bodies and Triassic metasediments, which is a key control on mineralization in the Whitehorse Copper Belt.

Historical exploration at the Jackson Copper-Skarn prospect has revealed significant potential. Shallow drill results have intersected high-grade copper skarns with notable intersections including 6.12m at 5.61% Cu, 1.03 g/t Au, and 247 g/t Ag from 55.14m, 10.67m at 6.45 g/t Au from 71.02m within 21.88m at 3.45 g/t Au, and 1.99m at 4.0 g/t Au from 19.35m).

Undrilled target areas with high-grade copper skarn mineralization have also been identified on the surface. These include the Franklin Target with rock chip samples showing up to 9.4% copper (Cu), 6.36 g/t gold and 30% Cu, the Hamilton Target with samples revealing up to 3.48% Cu (10.4% zinc) and 1.69% Cu (42.9% Zn), and the Janet Target with samples indicating up to 7.85% Cu and 16.59 g/t gold associated with magnetite skarns and elevated Fe values.

Initial airborne magnetics conducted by previous explorers have highlighted undrilled high-magnetic anomalies over more than 4.4 km of strike, indicating further exploration potential. Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF) has begun its summer exploration program, which includes mapping and sampling, with drone magnetics planned for later in the season.

The Jackson Prospect has been intermittently explored by historical explorers through spatially constrained soil sampling, mapping, trenching, and approximately 1,901m of diamond drilling across 24 drill holes. This historical work, supported by limited airborne magnetics conducted in 2014 by Precision Geophysics, highlighted over 4.4 km of untested magnetic anomalism coinciding with high magnetic response areas, outcropping magnetite-copper skarns, and the mapped contact between Cretaceous intrusions and Triassic limestones.

Outside the drilled area, further undrilled and underexplored mineralized targets remain. These are highlighted by high-grade copper skarn mineralization exposed on the surface for over 6 km and include the Franklin Target, the Hamilton Target, and the Janet Target.

With the start of summer exploration programs, Gladiator Metals is looking forward to updating the market with further news from the Whitehorse Copper Belt in the coming weeks.

Gladiator Metals Announces Significant High-Grade Copper Assay Results from Cowley Park

On May 28, Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF) announced assay results for additional historic drill holes at Cowley Park, further defining the high-grade copper skarn mineralization. Key results include 10.3m at 1.92% Cu and 1459 ppm or .15% Mo from 131.7m, 10m at 1.07% Cu from 49m (within 24m at 0.63% Cu from 35m), and 8m at 1.02% Cu from 105m.

The results highlight areas for significant exploration upside. The southeastern extension has a potential extension of over 100m to the east. The northeastern extension shows 43.28m @ 2.24% Cu from 93.27m, remaining open to the east. Initial drilling indicates unexplored sub-parallel trends. A significant fault may have displaced the main mineralized body, suggesting potential westward extension. Mineralization remains open at depth, with significant intervals reported.

CEO Jason Bontempo emphasized the importance of these findings, noting that they define the continuity and scale of high-grade copper mineralization at Cowley Park and identify new exploration targets for future programs.

Click here for more information about Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF).

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COMTEX_453109610/2655/2024-05-30T08:29:14

–News Direct–

By James Blacker, Benzinga

Meme stocks have once again rocked the financial markets, with GameStop Corp (NYSE: GME) and AMC Entertainment Holdings Inc (NYSE: AMC) seeing dramatic spikes in recent weeks. Shares of GameStop soared 74% on May 13 after social media influencer and investor Keith Gill, who was instrumental in the 2021 meme stock frenzy, made his first social media post in three years.

Similarly, other meme stocks saw massive surges, such as AMC, which rose nearly 80%, and Koss Corporation (NASDAQ: KOSS), which more than doubled.

While the share prices of GameStop and AMC seem to have now settled down, the resurgence of meme stocks has reignited the discussion about their volatility and unpredictability. While making money with meme socks is possible, it is considered by many to be risky and relies heavily on timing the market.

GameStop shares opened at $26.34 on May 13. At the time of writing, however, the stock is trading at $22.12, which means that traders who entered long positions after Gills social media posts on May 11 and 12 would be in the red. A month ago, the stock was trading at around $10, which means those who got in early would be up some 120%.

Staying Ahead Of The Curve

While humans can be notoriously bad at timing the market, advanced predictive tools are invaluable for traders and investors looking to capitalize on events like the meme stock resurgence. Amid such a landscape, the right tools are essential, and VantagePoints A.I.-driven market forecasting software has proven its ability to predict the momentum and trends of stocks like GameStop and AMC before they take off, with up to 87.4% historical accuracy.

Combined with its dual-patented intermarket analysis, which compiles and analyzes data about the interconnectedness of global markets, VantagePoint reports that its AI software saw the GameStop confirmed trend reversal as early as May 3rd, long before the broader market reacted to it.

VantagePoint claims that its software gives traders precise forecasts of a trends direction from one to three days in advance, in addition to predictions of the next days high and low. It makes forecasts for over 2,300 stocks, ETFs, futures, forex pairs, commodities and cryptocurrencies every single day.

The company has been using A.I. to forecast the markets for over three decades, which means three decades that its neural networks have been learning and getting more and more accurate. In line with the companys vision to empower investors daily, VantagePoint was the first trading software developer in the world to introduce strategy back-testing capabilities in trading software for personal computers. In February 2020, long before the A.I. explosion, the company announced that its predictive accuracy had increased to 87.4%.

Since introducing its first trading software in 1983, VantagePoint has grown into a multi-million dollar, Inc. 500, trading software company with over 40,000 customers in more than 160 countries. The company has also won multiple awards, including Best Predictive A.I. Software For Trading by A.I. World Finance in 2023. The company also partnered with Benzinga in 2022 for a four-part series to help traders.

With the resurgence of social media-driven volatility, VantagePoints early insights could give traders and investors the edge they need to stay ahead of the curve.

Find out more at www.vantagepointsoftware.com.

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The above (GME) chart is from past data and is atypical. Trading involves risk. Past results do not guarantee future performance.

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Benzinga

COMTEX_453109612/2655/2024-05-30T08:29:16

–News Direct–

Comcast announced today it will continue to significantly expand its next-generation Xfinity network into Chanhassen, Minnesota. The media and technology company will invest millions to install new fiber-rich highways that will provide multi-gig speeds and unmatched reliability to more than 10,500 homes and businesses with a planned completion by the end of 2025. The Chanhassen expansion adds to Comcasts more than $525 million technology and infrastructure investments across Minnesota over the last three years.

Comcasts planned expansion follows Februarys announcement of expanding its smart, fast, reliable fiber-rich network to seven cities in Minnesota, including Cologne and Nowthen, and parts of Corcoran, Grant, Hugo, Rogers and Stillwater Township by the end of 2024. In June 2023, Comcast completed an expansion to more than 2,300 homes and businesses in the City of Wayzata, where area businesses now enjoy Comcast Businesss suite of products, including broadband speeds of up to 100 Gbps, and Xfinity products for residents with Internet speeds faster than a gig over standard connections in the home.

We are pleased to welcome Comcast to our community. Access to high-quality cable and internet services is essential for our residents and businesses, and having more options ensures that everyone can find a plan that best meets their needs. We look forward to the benefits that increased competition and improved infrastructure will bring," said Chanhassen Mayor Elise Ryan.

Residential customers will be able to take advantage of Xfinitys full suite of products, including Internet, video, mobile, voice and managed home solutions. For local businesses, Comcast Business will offer a suite of connectivity, communications, networking, cybersecurity, wireless, and managed solutions to help organizations of different sizes prepare for whats next. Comcast Business has been consistently recognized by industry analysts and associations as a leader and innovator, and one of the fastest-growing providers of Ethernet services.

Reliable high-speed Internet is essential in todays digital economy, which is why Comcast continues its commitment to connect more Twin Cities families and businesses to the moments that matter most, said Kalyn Hove, Comcast Midwest Regional Senior Vice President. We are expanding our fiber highways in Chanhassen, strategically investing in areas undergoing significant growth. By establishing the best broadband infrastructure today, we are securing the economic prosperity of these communities for tomorrow.

Comcasts commitment to new communities goes beyond the buildaddressing digital opportunities in communities through Project UP, the companys $1 billion commitment to help tens of millions of people connect to the Internet and build futures of unlimited possibilities.

Over the past three years, Comcast has invested more than $5 million in cash and in kind donations in the Twin Cities to help shrink the digital divide. The focus includes helping people build digital skills in the workforce, expanding WiFi connected Lift Zones and funding connectivity and internet adoption programs. The funding also supports ongoing efforts to build awareness about affordable connectivity services like Internet Essentials, which offers eligible households high-speed internet for $9.95/month or Internet Essentials Plus for $29.95/month. Affordable computers are also available through Internet Essentials. Since its inception in 2011, the program has connected more than 480,000 students, parents, veterans and seniors in Minnesota.

For more construction details and updates, visit https://midwest.comcast.com/network-expansion/.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information.

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Jill_Hornbacher@comcast.com

Company Website

https://midwest.comcast.com

View source version on newsdirect.com: https://newsdirect.com/news/comcast-expands-into-chanhassen-with-major-fiber-network-475250160

Comcast Twin Cities

COMTEX_453108845/2655/2024-05-30T08:05:10

–News Direct–

Sunpower Renewables Pty. Ltd., just launching in the United States, just in time for Fathers Day. This Australian renewable energy solutions company has developed modern, efficient, and smart solar energy products that allow customers to achieve energy independence while being cost effective, long lasting, and environmentally friendly. These Australian Made products, with cutting-edge technology, are designed for industrial, commercial, residential, and off-grid applications.

We are so excited to have our solar powered generators available in the United States, these items are created to empower every consumer to generate, store and use solar energy anytime, anywhere, said Rahul Kale, founder of Sunpower Renewables. These state-of-the-art, simple-to-use, and light-weight portable solutions have proven to be more sustainable & viable, both commercially and technically, than traditional solar and renewable alternatives.

SR Portables renewable energy generation and storage devices, ranging from hand-held to grid connected products, allow users to generate and store energy (from the grid, solar or external generators) and then intelligently release it to appliances based on user-programmed preferences to reduce the total electricity costs for the user.

From camping and powering homes to defense and humanitarian aid, these solar powered generators are your one-stop-shop for replacing portable diesel generators and home inverters, said Kale.

Sunpower Renewables are an all-in-one solution, fully integrating all the different components of the solar plant with additional features like an in-built Inverter, MPPT charge controller, a pure sine wave UPS, a reversible net meter and an in-built Li-Ion battery pack for energy storage. Integrating all these components into a single, compact, portable, plug and play product, which offers energy storage is a game changer for the renewable energy industry. Available on AMAZON, starting at $289.

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About Sunpower Renewables Pty. Ltd., Our core team of world-renowned energy experts recognized glaring gaps in the restrictive use of renewable energy across the globe. What began as a journey to implement existing options within the renewable energy ecosystem became the genesis for a revolutionary, new-age, sustainable concept. Inspired by the Latin phrase avia pervia we set upon simplifying solar energy to make it easily available and usable to everyone. Our main objective was to provide energy independence to customers through accessible & easy-to-use renewable energy solutions with efficient energy storage for continuous power supply even during peak consumption.

Contact Details

absolute R relations

Colleen Mathis

colleen@absoluteRrelations.com

Company Website

https://srportables.com/

View source version on newsdirect.com: https://newsdirect.com/news/just-in-time-for-fathers-day-258393314

SR Portables

COMTEX_453107675/2655/2024-05-30T07:33:06

–News Direct–

Immunic Inc CEO Daniel Vitt joined Steve Darling from Proactive to discuss the ongoing challenges and recent developments in treating multiple sclerosis (MS). This interview took place in conjunction with World MS Day, a day dedicated to raising global awareness about this debilitating disease. Vitt emphasized the significant unmet medical need for effective treatments, noting that MS affects approximately 2.8 million people worldwide. The disease often leads to progressive physical disability, with many patients eventually requiring wheelchairs for mobility.

Vitt explained that early diagnosis is crucial for MS, as it allows for more timely and effective intervention, which can significantly slow the progression of the disease. He highlighted Immunics innovative approach to MS treatment, which targets both inflammation and neuroprotection. This strategy is designed to address the complex nature of MS, which involves both inflammatory and neurodegenerative processes.

Immunics lead drug candidate, vidofludimus calcium, is currently in clinical development for both relapsing and progressive forms of MS. Vidofludimus calcium works by activating a protein called Nurr1, which provides direct neuroprotective effects in addition to its anti-inflammatory benefits via DHODH inhibition. This dual mechanism of action makes it a promising candidate for comprehensive MS treatment.

The drug is currently undergoing a phase 3 clinical trials for relapsing MS, with results expected in 2026. Additionally, a phase 2 clinical trial for progressive MS is underway, with results anticipated in April 2025. These trials aim to further validate the safety and efficacy of vidofludimus calcium in addressing the diverse and challenging aspects of MS.

Vitt expressed optimism about the potential of vidofludimus calcium to transform MS treatment. He cited the drugs safety profile and its demonstrated efficacy in clinical trials as key factors contributing to this potential. If successful, vidofludimus calcium could become a critical tool in the fight against MS, offering hope to millions of patients worldwide.

Contact Details

Proactive North America

+1 604-688-8158

NA-editorial@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/immunic-inc-ceo-daniel-vitt-highlights-advances-in-ms-treatment-on-world-ms-day-944295850

Immunic Inc

COMTEX_453107045/2655/2024-05-30T07:09:03

–News Direct–

Wishpond Technologies CEO Ali Tajskandar and CFO David Pais joined Steve Darling from Proactive to announce the company's consolidated financial statements for Q1 2024, representing the three months ended March 31, 2024.

Wishpond achieved quarterly revenue of $6,050,263 in Q1 2024, an 8% increase from $5,623,817 in the same period of 2023. This revenue growth was primarily driven by organic growth, increased sales and marketing activities, and new product introductions. The company reported a gross profit of $4,128,922 in Q1 2024, a 12% increase from Q1 2023. Wishpond's gross margin percentage for Q1 2024 was 68%. The company achieved positive Adjusted EBITDA of $290,304 in Q1 2024, a 39% increase from Q1 2023. Wishpond has over $2 million in cash on hand, with the reduction in net cash due to earnout payments for businesses acquired in 2022, investments in the business, and changes in working capital.

The company also announced the beta launch of its proprietary AI-powered sales platform, SalesCloser AI. The beta program has already seen several hundred businesses sign up. The platform can work 24/7 to engage leads, close deals, and service customers in ten different languages. SalesCloser can be adapted for use across various industries, including software/SaaS, professional services, financial services, education, travel and hospitality, insurance, and more.

Wishpond expects to achieve record revenue and Adjusted EBITDA in 2024, driven by the increasing traction of its new Propel IQ bundled product, an expanded sales team, and new sales from the recently launched SalesCloser AI virtual agent. The company continues to have an active pipeline of sales opportunities and robust demand for its products.

Contact Details

Proactive Canada

+1 604-688-8158

na-editorial@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/wishpond-q1-results-include-revenue-growth-and-39-increase-in-adjusted-ebitda-537892784

Wishpond Technologies Ltd.

COMTEX_453083291/2655/2024-05-29T19:07:16

–News Direct–

Austin, Texas, May 29, 2024 – (PlatoAI) — The $Bobby Politifi Meme Token, trading on Uniswap under the ticker $BOBBY, has announced its highly anticipated relaunch at Consensus 2024 (29-31 May, 2024, Texas, USA).

The official launch event will take place on May 29, 2024, marking a new chapter for the token that has rapidly evolved from a meme coin into a powerful movement supporting Kennedys beliefs and his fight for cryptos future.

$Bobby is more than just a token; it is a movement that resonates with the ideals of independence in the face of a captured, secretive, and centralized government a cause championed by independent presidential candidate Robert F. Kennedy Jr.

AT CONSENSUS

The $Bobby token has sponsored Kyle Kempers Kennedy24 bus, which will be parked in front of the Consensus event venue. The team, with Kyle at the fore, will be handing out Kennedy24 and $Bobby merchandise to the events crypto-enthusiast attendees, and are planning a few other surprises.

THE JOURNEY SO FAR

The $Bobby Token originally launched at ETH Denver under the name RFKJ, and hit an ATH earlier this year with a $35m market cap. Based on community feedback, it has been rebranded and is relaunching using the name Bobby by which Kennedy is affectionately called by his friends, family and supporters. This strategic move underscores the project's commitment to listening to its community and evolving to better meet its needs and aspirations.

In a market crowded with political meme coins, the $Bobby Token stands out by having real substance behind it. They have already donated almost $100,000 to Kennedy-aligned causes, they churn out some of the most viral Kennedy content online, and are becoming a leading figure in pro-Kennedy social media circles – with over 1M views on their socials last month alone.

Kennedy has frequently articulated his support for cryptocurrencies, highlighting their potential to combat inflation and provide independence from government and monopolistic banking systems.

"Cryptocurrency takes control away from the government and from the monopolistic banking system, which uses money printing to shift wealth upward to the oligarchy of billionaires while impoverishing regular Americans," Kennedy recently remarked.

And he asserted in a recent tweet that "Cryptocurrency is the off-ramp for our addiction to the Federal Reserve. Its the best hedge against inflation.

KYLE KEMPER JOINS AS ADVISOR

Kyle Kemper, a renowned figure in the cryptocurrency space, has joined the $Bobby Token team as an advisor. With over a decade of experience in cryptocurrency, Kemper is poised to bring his extensive knowledge, creativity, and passionate advocacy to the $Bobby Token.

His involvement is expected to drive community development and global awareness through innovative crypto solutions. Kemper was recently interviewed on The Tucker Carlson network, where he speaks, among other things, about fighting for freedom and how a more involved population by integrating society in decision making can be enabled through blockchain.

"I am excited to join the $Bobby team as an advisor," said Kyle Kemper. "I believe that this token has the potential to drive community development, raise global awareness, create engaging memetic content, and make a significant impact through donations to causes in need. The vision behind $Bobby aligns perfectly with my own beliefs about the power of decentralization to effect positive changeand its fun!

About $Bobby Politifi Meme Token

$Bobby Politifi Meme Token is a cryptocurrency designed to harness the power of community, memes, and blockchain technology to drive independence. Trading on Uniswap under the ticker symbol BOBBY, the token focuses on community development, global awareness, and impactful donations. Originally launched at ETH Denver as RFKJ, the token has been rebranded and relaunched at Consensus Texas 2024 to better align with its community and be more fun.

The $Bobby Token is more than just a cryptocurrency; it is a movement. By leveraging the power of memes and the blockchain, $Bobby aims to foster a vibrant community, amplify important causes, and provide substantial support through impactful donations. The token's relaunch marks a new chapter in its journey, with Kyle Kemper's advisory role set to enhance its strategic direction and outreach.

For press inquiries and to book a 1-2-1 interview with Kyle Kemper either in person during Consensus or not, please contact:

Contact Details

Claire

+44 7943 774236

claire@weareblueparrot.com

View source version on newsdirect.com: https://newsdirect.com/news/the-bobby-token-launches-at-consensus-2024-and-announces-kennedy-campaign-community-activator-kyle-kemper-as-advisor-998606554

Plato AI

COMTEX_453078720/2655/2024-05-29T17:23:02

–News Direct–

A video accompanying this announcement is available at: https://youtu.be/dJPZJMemFCA

David J. Glawe, CEO of the National Insurance Crime Bureau, discusses how fraudulent contractors scam homeowners and insurers after disasters, leading to higher premiums.

With hurricane, tornado, and wildfire seasons in full swing in many parts of the country, property damage and loss will be unavoidable in affected areas.

The National Insurance Crime Bureau is warning those living in areas that could suffer from a natural disaster to not only be prepared for the disaster but to be aware of the potential for fraudulent contractors and vendors taking advantage of victims in its aftermath.

Last year was a historic year for billion-dollar weather and climate disasters in the U.S., with 28 separate events costing at least $1 billion. In the 1980s, the average time between billion-dollar disasters was 82 days. In 2023, it was just 12 days, with these disasters totaling more than $93 billion in catastrophe losses. Upwards of 10 percent or $9.3 billion is lost to post-disaster fraud, which not only impacts individuals, but also impacts insurance premiums throughout the industry.

Oftentimes, these deceitful actors target neighborhoods affected by disasters and make an unsolicited stop at your home. They will take your money – often overcharging – and do shoddy or no work at all, promising that your insurance company will pay for it all.

On Tuesday, May 21, a nationwide media tour was conducted featuring NICB President & CEO David J. Glawe discussing how to avoid home repair fraud after a natural disaster and many other consumer friendly topics.

Questions and Topics Mr. Glawe discussed Included:

Why is contractor fraud becoming more prevalent, and who is committing these acts?

What is NICB doing to help stop contractor fraud from occurring?

What steps can and should homeowners take prior to a natural disaster and how can preparation help reduce chances of becoming a victim of fraud?

What signs should disaster victims be on the lookout for that may indicate a dishonest contractor and what steps can people take to avoid being scammed?

What resources are available to help homeowners and other disaster victims avoid potential fraudulent actors or report fraud when they encounter it?

NICB recommends following these tips before hiring a contractor:

Be Proactive

Assess Damages: If you think you have catastrophe-related damage, reach out to your insurance company, and ask for clarification on your coverage.

Recruit a Professional: Seek out a licensed, insured, and well-reviewed contractor before any potential fraudulent contractors come knocking on your door.

Research and Verify Before Signing Anything

Research and Verify: Before hiring a contractor, research their credentials, reputation, and track record. Check for licenses, certifications, and reviews from previous clients. Verify their insurance coverage and inquire about any past complaints or legal issues.

Get Multiple Quotes: Obtain bids from multiple contractors for comparison. Be wary of significantly low bids, as they may indicate substandard work or hidden costs. Aim for a balance between affordability and quality.

Beware of Red Flags: Be alert to red flags such as high-pressure sales tactics, vague or evasive answers, or reluctance to provide written estimates or contracts. Trust your instincts and proceed with caution if something seems off.

Stay Involved and Take Account

Written Contracts: Always insist on a written contract detailing the scope of work, materials, timeline, and a payment schedule that does not include large upfront payments. Review the contract carefully, ensuring that all terms and conditions are clearly outlined and agreed upon by both parties.

Stay Involved: Stay actively involved in the project by regularly communicating with the contractor and monitoring progress, while keeping records of all work communications.

Seek Legal Advice if Necessary: If you suspect contractor fraud or encounter significant problems during the project, seek legal advice promptly. A legal professional can help you understand your rights, explore options for resolution, and take appropriate action to protect your interests.

Report Fraud

Anyone with information concerning insurance fraud or vehicle theft can report it by calling toll-free 800.TEL.NICB (800.835.6422).

To learn more, visit NICB.org

About the National Insurance Crime Bureau: Headquartered in Oak Brook, Ill., the National Insurance Crime Bureau (NICB) is the nation's leading not-for-profit organization exclusively dedicated to combatting and preventing insurance crime through Intelligence, Analytics, and Operations; Education and Crime Prevention; and Strategy, Policy, and Advocacy. NICB is supported by more than 1,200 property and casualty insurance companies and self-insured organizations.

Contact Details

YourUpdateTV

+1 212-736-2727

yourupdatetv@gmail.com

View source version on newsdirect.com: https://newsdirect.com/news/dont-get-scammed-nicb-insights-on-how-to-avoid-fraud-after-a-natural-disaster-341745413

YourUpdateTV

COMTEX_453075005/2655/2024-05-29T16:02:52