Financial attributes – Purple Ribbon Project http://purpleribbonproject.com/ Tue, 17 May 2022 14:33:46 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://purpleribbonproject.com/wp-content/uploads/2021/10/icon-12.png Financial attributes – Purple Ribbon Project http://purpleribbonproject.com/ 32 32 AM Best revises outlook to stable for New York schools insurance reciprocity https://purpleribbonproject.com/am-best-revises-outlook-to-stable-for-new-york-schools-insurance-reciprocity/ Tue, 17 May 2022 14:24:00 +0000 https://purpleribbonproject.com/am-best-revises-outlook-to-stable-for-new-york-schools-insurance-reciprocity/ OLDWICK, NJ–(BUSINESS WIRE)–AM Best revised the outlook from negative to stable and affirmed New York Schools’ financial strength rating of A (Excellent) and issuer long-term credit rating (long-term ICR) of “a” (Excellent) Insurance Reciprocal (NYSIR) (Uniondale, NY). Credit ratings (ratings) reflect NYSIR’s balance sheet strength, which AM Best rates as the strongest, as well as […]]]>

OLDWICK, NJ–(BUSINESS WIRE)–AM Best revised the outlook from negative to stable and affirmed New York Schools’ financial strength rating of A (Excellent) and issuer long-term credit rating (long-term ICR) of “a” (Excellent) Insurance Reciprocal (NYSIR) (Uniondale, NY).

Credit ratings (ratings) reflect NYSIR’s balance sheet strength, which AM Best rates as the strongest, as well as adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM) .

NYSIR’s outlook has been revised to stable to negative due to the intangible financial impact of the expected reciprocal of the New York Child Victims Act of 2019 and the stabilization of operational performance following of management actions, including coverage changes, rate increases, and non-renewal of underperforming districts. In addition, NYSIR entered into an adverse development hedge treaty, signed a new management contract with Wright Risk Management (WRM), among other initiatives that AM Best expects to maintain NYSIR’s operating performance within the range. adequate.

The affirmation of the long-term ICR reflects the change in the assessment of NYSIR’s trading profile from neutral to limited. NYSIR faced potential challenges from the Child Victims Act, which expired in August 2021, and had minimal impact on the reciprocal’s financial results. NYSIR continues to be the premier insurer of New York’s public schools, benefiting from its market-leading position, strong subscriber loyalty, exclusive partnerships with statewide educational associations and the strong support from its school communities. NYSIR benefits from its product diversification and 33-year partnership with WRM, which performs many reciprocal processes. Although the inverse offers multiple lines of coverage, the positive attributes of the inverse are partially offset by the inverse’s single state concentration in New York and concentration in the school segment, which can create other headwinds for the reverse.

NYSIR’s operational performance rating was changed to adequate from strong. Despite stabilizing over the past few years, the reverse has seen some deterioration and volatility in earnings over the past five-year period, which has led to the change in NYSIR’s operational performance assessment. Overall results were impacted by several losses related to property catastrophes and significant liability losses, as well as a cautious reserve for uncertainties surrounding pending claims under the Children’s Act casualties, social inflation and rising costs of losses in New York. NYSIR’s overall earnings were supported by investment gains on its conservative investment portfolio, which should continue to support adequate reciprocal operating performance and long-term member-focused goals.

AM Best evaluates NYSIR’s ERM program, if applicable. NYSIR’s ERM program is designed specifically for schools and the challenges its members may face. Management continues to proactively respond to changes in regulatory, judicial and legislative challenges in New York. AM Best expects the reciprocal’s risk management program to continue to support the reciprocal’s business profile and operational performance.

This press release relates to credit ratings that have been published on AM Best’s website. For all rating information relating to the release and relevant disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For more information on the use and limitations of credit rating opinions, please see Best’s Guide to Credit Ratings. For more information on the proper use of Best’s Credit Scores, Best’s Performance Ratings, Best’s Preliminary Credit Ratings, and AM Best’s press releases, please see the Guide to Proper Use of Best’s Best ratings and reviews.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2022 by AM Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Intelligence outsourcing for financial institutions https://purpleribbonproject.com/intelligence-outsourcing-for-financial-institutions/ Sun, 15 May 2022 18:44:27 +0000 https://purpleribbonproject.com/intelligence-outsourcing-for-financial-institutions/ A new report from this publication and research partner FIS Platform Securities presents the results of a global outsourcing survey and insights from “both sides of the table” that are essential for any institution considering operational innovation. Operational innovation has become a top priority for financial institutions, faced with a difficult combination of margin pressures, […]]]>

A new report from this publication and research partner FIS Platform Securities presents the results of a global outsourcing survey and insights from “both sides of the table” that are essential for any institution considering operational innovation.

Operational innovation has become a top priority for financial institutions, faced with a difficult combination of margin pressures, growing competition from new players and ever more demanding customers. And, as minds open to new ways of working, one path is being taken with growing enthusiasm: outsourcing.

Even companies that previously preferred to keep their operations entirely in-house are now exploring their options to outsource some (if not most, often most) of their back and middle office processes. We are even seeing outsourcing apply to customer-facing activities as the trust – and even the prestige – of outsourcing providers grows. It is undeniable, however, that the choice of outsourcing is an important strategic decision where things can go wrong; that not all suppliers are equal; and that outsourcing arrangements must be carefully calibrated if they are to deliver the intended benefits to the business, as well as its staff and customers.

These themes form the backdrop to WealthBriefing’slatest thought leadership collaboration with FIS Platform Securities, which includes an on-demand webinar, a global survey and an expert commentary document discussing its findings, all under the banner “Outsourcing Intelligence for Financial Institutions”, which are available for free access now.


Accelerating Best Practices

As the title suggests, this webinar and article are intended to help institutions accelerate outsourcing best practices and they do so by distilling the wisdom of a panel of experts who represent the perspective of financial institutions. , consultants and outsourcing providers themselves. Our global survey results also provide an invaluable benchmarking tool for companies wanting to know how they stack up against their peers on this important topic.

As you might expect, “Outsourcing Intelligence for Financial Institutions” covers the attitudes and drivers of outsourcing and business process outsourcing (BPO), which activities are good candidates for these, and which can be the hurdles businesses face. More unusually perhaps, we also delve into pragmatic questions such as how long outsourcing contracts last, when ROI really needs to kick in, and which vendor attributes institutions should focus on when navigating this increasingly crowded market.

Our free on-demand webinar and research paper are essential resources for executives looking for the latest information on outsourcing approaches and vendor selection. Access it now for cutting-edge information on:

Jean BeestonCEO, FIS Platform Securities Holdings Ltd – UK Wealth Management;
Sarah SourCEO, Hawksmoor Investment Management;
Iain Willis, Director, Wharf Administrative Services; and
Ian WoodhouseHead of Wealth Management Transformation and Thought Leader for Europe, Accenture Wealth and Asset Management

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Lloyds Steels Industries Limited (NSE:LSIL) fundamentals look pretty solid: Could the market be wrong about the stock? https://purpleribbonproject.com/lloyds-steels-industries-limited-nselsil-fundamentals-look-pretty-solid-could-the-market-be-wrong-about-the-stock/ Sat, 14 May 2022 03:00:56 +0000 https://purpleribbonproject.com/lloyds-steels-industries-limited-nselsil-fundamentals-look-pretty-solid-could-the-market-be-wrong-about-the-stock/ It’s hard to get excited after looking at the recent performance of Lloyds Steels Industries (NSE:LSIL), as its stock is down 31% in the past three months. But if you pay close attention, you might find that its leading financial indicators look pretty decent, which could mean the stock could potentially rise in the long […]]]>

It’s hard to get excited after looking at the recent performance of Lloyds Steels Industries (NSE:LSIL), as its stock is down 31% in the past three months. But if you pay close attention, you might find that its leading financial indicators look pretty decent, which could mean the stock could potentially rise in the long run as markets generally reward more resilient long-term fundamentals. In particular, we will pay attention to the ROE of Lloyds Steels Industries today.

ROE or return on equity is a useful tool for evaluating how effectively a company can generate returns on the investment it has received from its shareholders. In simpler terms, it measures a company’s profitability relative to equity.

Check out our latest analysis for Lloyds Steels Industries

How to calculate return on equity?

the return on equity formula is:

Return on equity = Net income (from continuing operations) ÷ Equity

So, based on the above formula, the ROE for Lloyds Steels Industries is:

4.4% = ₹59 million ÷ ₹1.4 billion (based on the last twelve months to March 2022).

The “yield” is the profit of the last twelve months. This means that for every ₹ of equity, the company generated ₹0.04 of profit.

What is the relationship between ROE and earnings growth?

So far we have learned that ROE is a measure of a company’s profitability. Depending on how much of those earnings the company reinvests or “keeps”, and how efficiently it does so, we are then able to gauge a company’s earnings growth potential. Generally speaking, all things being equal, companies with high return on equity and earnings retention have a higher growth rate than companies that do not share these attributes.

Lloyds Steels Industries earnings growth and ROE of 4.4%

It is clear that the ROE of Lloyds Steels Industries is rather weak. Even compared to the industry average of 13%, the ROE figure is quite disappointing. However, the moderate net income growth of 8.9% seen by Lloyds Steels Industries over the past five years is definitely positive. We believe there could be other aspects that positively influence the company’s earnings growth. For example, it is possible that the management of the company has made good strategic decisions or that the company has a low payout ratio.

As a next step, we benchmarked Lloyds Steels Industries’ net income growth against the industry and were disappointed to see that the company’s growth is below the industry average growth of 13% over the course of the same period.

NSEI:LSIL Past Earnings Growth May 14, 2022

The basis for attaching value to a company is, to a large extent, linked to the growth of its profits. The investor should try to establish whether the expected growth or decline in earnings, as the case may be, is taken into account. This will help him determine if the future of the stock looks bright or ominous. Is Lloyds Steels Industries correctly valued compared to other companies? These 3 assessment metrics might help you decide.

Is Lloyds Steels Industries using its retained earnings efficiently?

Lloyds Steels Industries currently pays no dividends, which essentially means that it has reinvested all of its profits back into the business. This certainly contributes to the decent number of earnings growth we discussed above.

Conclusion

All in all, it seems that Lloyds Steels Industries has some positive aspects to its business. Namely, its respectable earnings growth, which it achieved while retaining most of its earnings. However, given the low ROE, investors may not be benefiting from all that reinvestment after all. While we wouldn’t completely dismiss the business, what we would do is try to figure out how risky the business is to make a more informed decision about the business. Our risk dashboard would have the 2 risks we identified for Lloyds Steels Industries.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

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CUE HEALTH INC. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q) https://purpleribbonproject.com/cue-health-inc-managements-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/ Wed, 11 May 2022 21:03:10 +0000 https://purpleribbonproject.com/cue-health-inc-managements-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/ The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited condensed financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q and our audited financial statements and the related notes and the discussion under the heading "Management's Discussion and Analysis […]]]>
The following discussion and analysis of our financial condition and results of
operations should be read in conjunction with our unaudited condensed financial
statements and related notes included elsewhere in this Quarterly Report on Form
10-Q and our audited financial statements and the related notes and the
discussion under the heading "Management's Discussion and Analysis of Financial
Condition and Results of Operations" for the fiscal year ended December 31, 2021
included in our Annual Report on Form 10-K. This discussion, particularly
information with respect to our future results of operations or financial
condition, business strategy and plans and objectives of management for future
operations, includes forward-looking statements that involve risks and
uncertainties as described under the heading "Forward-Looking Statements" in
this Quarterly Report on Form 10-Q for a discussion of important factors that
could cause our actual results to differ materially from those anticipated in
these forward-looking statements.
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Contents

Insight


We are a health technology company, and our mission is to enable personalized,
proactive and informed healthcare that empowers people to live their healthiest
lives. Our proprietary platform, the Cue Integrated Care Platform, which is
comprised of our Cue Health Monitoring System, Cue Data and Innovation Layer,
Cue Virtual Care Delivery Apps, and Cue Ecosystem Integrations and Apps, enables
lab-quality diagnostics-led care at home, at work or at the point of care. Our
platform is designed to empower stakeholders across the healthcare ecosystem,
including consumers, providers, enterprises and payors with paradigm-shifting
access to diagnostic and health data to inform care decisions. We are helping
pioneer a new continuous care model that we believe has the potential to
significantly improve the user experience, provide measurable and actionable
clinical insights, and increase efficiency within the healthcare ecosystem. We
believe this model, powered by our platform, will allow users to actively manage
their health, which we believe will lead to improved health outcomes and a more
resilient, connected, and efficient healthcare ecosystem for all stakeholders.

The Cue Integrated Care Platform consists of the following hardware and software
components: (1) our revolutionary Cue Health Monitoring System, made up of a
portable, durable and reusable reader, or Cue Reader, a single-use test
cartridge, or Cue Cartridge, and a sample collection wand, or Cue Wand, (2) our
Cue Data and Innovation Layer, with cloud-based data and analytics capability,
(3) our Cue Virtual Care Delivery Apps, including our consumer-friendly App and
our Cue Enterprise Dashboard, and (4) our Cue Ecosystem Integrations and Apps,
which allow for integrations with third party applications and sensors.

Our Cue Health Monitoring System is designed to deliver a broad menu of tests
through one system, enabling two major testing modalities, nucleic acid
amplification, or NAAT, and immunoassays, in one device. Our system is designed
to handle different sample types, including saliva, blood, urine and swabs, and
can detect nucleic acids, small molecules, proteins and cells. We believe this
will enable us to address many of the diagnostic tests conducted in clinical
laboratories, such as tests addressing indications in respiratory health, sexual
health, cardiac and metabolic health, women's health, men's health, and chronic
disease management.

Initial Public Offering

The Company's registration statement related to its initial public offering
("IPO") was declared effective on September 23, 2021, and the Company's common
stock began trading on the Nasdaq Global Stock Market ("Nasdaq") on September
24, 2021. On September 28, 2021, the Company completed its IPO of 14,375,000
shares of the Company common stock at an offering price of $16.00 per share,
including 1,875,000 shares purchased pursuant to the exercise in full of the
underwriters' option to purchase additional shares. The Company received
aggregate net proceeds of approximately $206.0 million after deducting
underwriting commissions and legal, accounting, and consulting fees related to
the IPO.

Upon completion of the IPO, Convertible Notes outstanding in the principal
amount of $235.5 million and accrued interest of $2.8 million were automatically
converted into 18,611,914 shares of common stock. All outstanding shares of the
Company's redeemable convertible preferred stock were converted into 83,605,947
shares of common stock. Immediately prior to the IPO, all of the Company's
outstanding warrants to purchase redeemable convertible preferred stock were
converted into the redeemable convertible preferred stock and the related
warrant liabilities were reclassified to additional paid-in capital.

Impact of COVID-19


While the ongoing global COVID-19 pandemic has adversely impacted global
commercial activity, it served as a catalyst to accelerate our product pipeline
and commercialization of our platform. We began selling and recording product
revenue for our COVID-19 test in August 2020 after obtaining our first FDA EUA
in June 2020. Currently, all of our product revenue is related to sales of our
Cue COVID-19 test.

In December 2020, the FDA issued EUA for two COVID-19 vaccines and in February
2021, the FDA issued a third EUA for a COVID-19 vaccine. The widely-administered
use of an efficacious vaccine or the availability of therapeutic treatments for
COVID-19 may reduce the demand for our COVID-19 test and could cause the
COVID-19 diagnostic testing market to fail to grow or to decline. However, we
believe the need for ongoing detection and monitoring will continue even after
effective vaccines have been widely distributed and administered. We also
believe COVID-19 will remain endemic for the foreseeable future and demand for a
fast and accurate test to confirm a diagnosis and seek timely and appropriate
treatment may fluctuate based on COVID-19 infection rates and variants. Even
while vaccine efforts are underway, public health measures, like testing, will
likely need to stay in effect to protect against COVID-19. However, given the
unpredictable nature of the COVID-19 pandemic, the development and potential
size of the COVID-19 diagnostic testing market is highly uncertain.
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Contents

Certain key factors affecting our performance

manufacturing capacity


We manufacture all of our Cue Cartridges in our vertically integrated facilities
in San Diego, California. We also produce all of our biochemistry in-house,
including critical enzymes, antibodies and primers for our Cue Cartridges.
Production of our Cue Readers is performed for us by third-party contract
manufacturers and production of our Cue Wands is performed by both us and by
third-party contract manufacturers. We continue to optimize our manufacturing
capabilities, including our fully automated production pods. A production pod is
a free standing, modular environmentally controlled structure containing an
automated cartridge production line.

Investments in our growth


We expect to make continued significant investments in our business to drive
growth, and therefore we expect our expenses to increase going forward. We
expect to invest significant resources in sales and marketing to drive demand
for our products and services as well as research and development to enhance our
platform and bring additional tests to market. We also intend to continue
investing in our supply chain and logistics operations. As we continue to scale
our business, we expect to hire additional personnel and incur additional
expenses, including those expenses in connection with our becoming a public
company.

Expand our customer base


Following the completion of our obligations under the U.S. DoD Agreement in
December 2021, the future commercial success of our diagnostic products is
dependent on our ability to broaden our customer base beyond the U.S. government
and public sector to include enterprise employers, healthcare providers and
direct-to-consumer. As a result, our long term growth depends on our ability to
renew and acquire new customers. Current key strategic relationships include
BARDA, Google LLC, or Google, the Mayo Clinic, the National Basketball
Association, and Henry Schein, Inc. We intend to leverage our success with our
COVID-19 test and the expansion of our manufacturing capabilities to enable
broad distribution of our Cue Readers and awareness of our platform across
different groups of customers and to enhance pull-through of our future tests.

Improve and expand our menu of testing and software capabilities


Currently, our only commercially available test is our molecular COVID-19 test.
A key part of our growth strategy is to expand our menu of tests to include
other diseases, ailments and general health markers, which we expect will
support our growth and continue to contribute to the utility of our platform,
including the Cue Health Monitoring System. We are currently developing tests in
the fields of respiratory health, sexual health, cardiac and metabolic health,
women's health, men's health, and chronic disease management. As we continue to
develop and expand our menu of tests, we have made, and will continue to make,
significant investments in our business, particularly in research and
development, sales and marketing and the hiring of additional personnel.
Investing in research and development will allow us to develop new tests as well
as enhance our current product offerings and our Cue Integrated Care Platform.
To build out our menu of tests and bring additional products to market, we will
need to hire additional personnel, such as engineers and researchers, as well as
develop robust sales and marketing and customer support teams to be able to sell
our products.

Regulatory clearance of our diagnostic products


Our commercial success will depend upon a number of factors, some of which are
beyond our control, including the receipt of regulatory clearances, approvals or
authorizations for existing or new product offerings by us, product
enhancements, or additions to our proprietary intellectual property portfolio.
While we have received two EUAs for our COVID-19 test, a CE mark in the European
Union, an Interim Order authorization from Health Canada, and regulatory
approval from CDSCO, our COVID-19 test has not been FDA cleared or approved and
is only authorized for emergency use during the declaration that circumstances
exist justifying the authorization of emergency use, and this declaration could
be terminated, or our authorization could be revoked in the future. We will need
to seek additional regulatory approval for our COVID-19 test if the EUA
declaration or Interim Order is terminated or otherwise revised or revoked, and
we will need to seek regulatory authorization, clearance or approval for our
other diagnostic products in development. In addition, we will not be able to
commercialize any other tests for our platform unless we obtain required
regulatory clearances or other necessary approvals or authorizations. As such,
our ability to navigate, obtain and maintain the required regulatory clearances,
approvals or authorizations, as well as comply with other regulatory
requirements, for our products will in part drive our results of operations and
impact our business.

Reimbursement and insurance coverage

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Contents


We have been granted two EUAs by the FDA for our COVID-19 test for point-of-care
and at-home and over-the-counter indications. The commercial success of our
COVID-19 test, and any of our subsequently developed tests, is dependent on a
customer's ability to be able to pay for or otherwise be reimbursed for the
purchase of a test, whether out-of-pocket, by insurance or from a governmental
or other third-party payor. We believe payment for our products, including our
Cue COVID-19 Test Kits, will be billable by a physician, reimbursable by
government payors or insurance companies, paid for by a self-insured employer,
or eligible under FSA and HSA guidelines. For example, most of our contemplated
future tests that are currently offered by others through central labs are
reimbursable by health plans and governmental payors if properly ordered by a
physician. These third-party payors decide which products will be covered and
establish reimbursement levels for those products. Coverage criteria and
reimbursement rates for clinical laboratory tests are subject to adjustment by
payors, and current reimbursement rates could be reduced, or coverage criteria
restricted in the future. If the Cue Health Monitoring System, including any of
our current or future tests, are not reimbursable or covered by insurance, our
business may be materially and adversely impacted.

Seasonality


We anticipate that fluctuations in customer and user demand for our COVID-19
test may be similar to those related to influenza, which typically increases
during the fall and winter seasons. Although our products will be available
throughout the year, we anticipate that we may experience higher sales during
the fall and winter seasons, relative to the spring and summer seasons. However,
as our portfolio of diagnostic offerings increases beyond our COVID-19 test, we
expect the impact of this seasonality on our results to decrease.

Summary of the first quarter of 2022 (on a comparative basis)

Key GAAP financial results for the three months ended March 31, 2022 were as follows compared to the three months ended March 31, 2021:

• Turnover was $179.4 million compared to $64.5 million; •Product gross margin was 51% vs. 53%; • Net income was $2.8 million compared to $13.0 million and; • Diluted earnings per share were $0.02 compared to $0.08

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Contents

Operating results


The following table sets forth a summary of our results of operations for the
periods indicated:

                                                                     Three Months Ended March 31,
                                                                      2022                    2021
(dollars in thousands)                                                       (unaudited)
Revenue:
Product revenue                                                $        177,454          $    64,499
Grant and other revenue                                                   1,956                    -
Total revenue                                                           179,410               64,499
Operating costs and expenses:
Cost of product revenue(1)                                               86,697               30,035
Sales and marketing                                                      34,168                  430
Research and development                                                 28,787                7,409
General and administrative                                               26,910               11,870
Total operating costs and expenses                                      176,562               49,744
Income from operations                                                    2,848               14,755
Interest expense                                                            (51)                (535)

Other income, net                                                             6                   37
Net income before income taxes                                            2,803               14,257
Income tax expense                                                            -                1,226
Net income                                                     $             2,803       $       13,031
Net income per share attributable to common stockholders -
diluted                                                        $              0.02       $         0.08


__________________

(1)Includes $9.6 million and $4.1 million amortization expense for the three months ended March 31, 2022 and 2021, respectively. __________________

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Contents

Comparison of three months ended March 31, 2022 and 2021

The following table provides a summary of our operating results for the three months ended March 31, 2022 and 2021 and variations between periods:

Three months completed March, 31st,

                                                  2022                    2021                     $ Change                   % Change
(dollars in thousands)                                                               (unaudited)
Revenue:
Product revenue                            $          177,454       $          64,499       $              112,955                     175%
Grant and other revenue                                 1,956                       -                        1,956                      n.m
Total revenue                                         179,410                  64,499                      114,911                     178%
Operating costs and expenses:
Cost of product revenue                                86,697                  30,035                       56,662                     189%
Sales and marketing                                    34,168                     430                       33,738                   7,846%
Research and development                               28,787                   7,409                       21,378                     289%
General and administrative                             26,910                  11,870                       15,040                     127%
Total operating costs and expenses                    176,562                  49,744                      126,818                     255%
Income from operations                                  2,848                  14,755                     (11,907)                    (81%)
Interest expense                                         (51)                   (535)                          484                    (90%)

Other income, net                                           6                      37                         (31)                    (84%)
Net income before income taxes                       2,803                14,257                     (11,454)                        (80) %
Income tax expense                                       -                 1,226                      (1,226)                          n.m.
Net income                                 $            2,803       $          13,031       $             (10,228)                   (78) %
Net income per share attributable to
common stockholders - diluted              $             0.02       $            0.08       $                    -                   (78) %


n.m. = not meaningful

Revenue increased to $179.4 million in the three months ended March 31, 2022,
from $64.5 million in the three months ended March 31, 2021. The increase was
primarily due to the continued expansion of our customer base and increases in
production capacity. Revenue during the three months ended March 31, 2022 was
primarily driven by product sales to private sector customers of $175.8 million
along with product sales to public sector clients of $1.6 million.

Cost of Product Revenue increased to $86.7 million in the three months ended
March 31, 2022, from $30.0 million in the three months ended March 31, 2021.
This increase was primarily due to a substantial increase in the sales of our
products. Our product gross profit margin, or product gross profit as a
percentage of product revenue was approximately 51% in the three months ended
March 31, 2022 compared to approximately 53%, in the three months ended
March 31, 2021. This decrease was primarily related to supply chain constraints
and associated higher component, transport costs as well as customer mix.

Sales and Marketing Expense increased to $34.2 million in the three months ended
March 31, 2022, from $0.4 million in the three months ended March 31, 2021. This
increase related to increased sales and marketing personnel costs to support a
broadening of our customer base, planned additions to our product offering and
higher expenses related to our overall marketing and brand expansion efforts.

Research and Development Expense increased to $28.8 million in the three months
ended March 31, 2022, from $7.4 million in the three months ended March 31,
2021. This increase was primarily driven by additional headcount, materials and
other resource utilization associated with the expansion of our platform,
including new test development and overall enhancement of our software platform
for products under development, as well as costs related to clinical studies for
510(k) approval of our COVID-19 and influenza tests.

General and administrative expenses increased to $26.9 million within three months March 31, 2022 from $11.9 million within three months
March 31, 2021. This increase is mainly related to an increase in shares

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compensation expenses, headcount growth to support our overall expansion as well
as accounting and other consulting-related costs to support our operations as a
public company.

Interest Expense decreased to $0.1 million in the three months ended March 31,
2022 from $0.5 million in the three months ended March 31, 2021. This decrease
was primarily driven by debt repayment activity in the prior year. Our interest
expense prior to February 2021 primarily consisted of expense related to our
prior loan and security agreement with Comerica Bank. In February 2021, we
entered into the Revolving Credit Agreement. In connection with the Revolving
Credit Agreement, we repaid outstanding amounts of $5.4 million and terminated
the 2015 Credit Agreement we initially entered into in May 2015. In May 2021, we
repaid the outstanding balance under the Revolving Credit Agreement. In June
2021, we terminated the Revolving Credit Agreement.

Income Tax Expense was $0 in the three months ended March 31, 2022 compared to
$1.2 million in the three months ended March 31, 2021, and our effective tax
rate was 0% in the three months ended March 31, 2022, compared to 8.6% in the
three months ended March 31, 2021. The fluctuation in our provision and
effective tax rate was primarily due to the Company maintaining a full valuation
allowance against its net deferred tax assets. The tax expense recorded for the
three months ended March 31, 2021 was related to deferred tax liabilities
arising from accelerated depreciation deductions for federal tax purposes and
current state income taxes in jurisdictions for which the Company did not have
available tax attributes.

Cash and capital resources

Insight


As of March 31, 2022, we held $426.5 million of cash and cash equivalents as a
result of our IPO proceeds and other financing activities. Our primary cash
needs are for the funding of day-to-day operations, financing capital
investments and to address our working capital needs. Our largest source of
operating cash generation is from sales to our customers. Our primary uses of
cash from operating activities are for personnel-related expenses, material and
supply costs for manufacturing, direct costs to deliver our products, and sales
and marketing expenses and research and development initiatives.

Based on our current business plan, we believe our anticipated operating cash
flows, together with our existing cash and cash equivalents, will be sufficient
to meet our working capital and capital expenditure requirements for at least
the next 12 months.

We expect that our near and longer-term liquidity requirements will consist of
working capital and general corporate expenses associated with the growth of our
business, including, without limitation, expenses associated with scaling up our
operations and continuing to increase our manufacturing capacity, sales and
marketing expense associated with rollout of our over-the-counter, at home
COVID-19 test to commercial customers, including directly to consumers,
increasing market awareness of our platform and brand generally to individual
consumers, enterprises and other target customers, additional research and
development expenses associated with expanding our care offerings, expenses
associated with continuing to build out our corporate infrastructure and
expenses associated with being a public company. Our short-term capital
expenditure needs relate primarily to the expansion of our research and
development capabilities, expanding production capacity and optimization of
existing business processes.

Cash flow

The following table summarizes our cash flows for the periods indicated:

                                                                         Three Months Ended
                                                                             March 31,
                                                                      2022                2021
(dollars in thousands)                                                      (unaudited)

Net cash, cash equivalents and restricted from (used in) operating activities

                                             $    

31,521 ($35,113)
Net cash, cash equivalents and restricted cash used in investing activities

                                                           (14,055)            (31,841)

Net cash, cash equivalents and restricted (used) cash from financing activities

                                        (873)             56,641

Net change in cash, cash equivalents and restricted cash $16,593 ($10,313)

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Contents

Cash flow from operating activities


Net cash, cash equivalents and restricted cash provided by operating activities
was $31.5 million in the three months ended March 31, 2022, primarily reflecting
our net income of $2.8 million, net of non-cash cost items and changes in
operating working capital. Non-cash cost adjustments were primarily driven by
depreciation and amortization expenses of $10.6 million and stock-based
compensation expense of 16.0 million. The timing of our revenue and collections
decreased our accounts receivable. Inventory increase was driven by our effort
to limit the effects of a potential future supply chain disruption combined with
a tempering of COVID-19 testing demand in the latter part of the first quarter.

Net cash, cash equivalents and restricted cash used in operating activities was
$35.1 million in the three months ended March 31, 2021, primarily reflecting our
net income of $13.0 million offset by increases in inventory and accounts
receivable of $14.8 million and $9.4 million, respectively. In addition, there
were decreases in accounts payable and deferred revenue of $14.8 million and
$16.0 million, respectively. These fluctuations were due to the expansion of
production facilities and increases in product revenue.

Cash flow from investing activities


Net cash, cash equivalents and restricted cash used in investing activities was
$14.1 million for the three months ended March 31, 2022, reflecting purchases of
property and equipment of $12.8 million to expand our R&D and production
capabilities. We also invested $1.3 million in the development of internal-use
software related to COVID-19 Testing apps for commercial customers.

Net cash, cash equivalents and restricted cash used in investing activities was
$31.8 million in the three months ended March 31, 2021, primary reflecting
purchases of property and equipment of $30.5 million to expand our production
capabilities of our COVID-19 Test Kits in relation to the U.S. DoD Agreement.

Cash flow from financing activities


Net cash used in financing activities for the three months ended March 31, 2022
of $0.9 million was primarily driven by $0.7 million in tax withholding on stock
option exercises and RSU vesting and $0.7 million in payments for finance
leases. These cash outflows were offset by proceeds of $0.3 million from stock
options exercised.

Net cash, cash equivalents and restricted cash provided by financing activities
was $56.6 million for the three months ended March 31, 2021, primarily
reflecting proceeds received from the Revolving Credit Agreement in February
2021 partially offset by repayment of the borrowings under the 2015 Credit
Agreement.

Commitments and contingencies


See Note 15, Commitments and Contingencies, to our unaudited interim condensed
financial statements included elsewhere in this quarterly report for a summary
of our commitments as of March 31, 2022. Our material cash commitments at
March 31, 2022 related to finance leases of manufacturing equipment totaling
$6.5 million, real estate leases under non-cancelable operating lease agreements
in the amount of $69.9 million, that expire at various dates through 2031 and a
legal settlement of a contract dispute totaling $9.0 million, of which $4.5
million has not been paid. We expect to fund these commitments using our
existing cash on hand.

From March 31, 2022we had outstanding letters of credit totaling $12.5 million with Eastern West Bank. We also had outstanding letters of credit with
Comerica Bank related to our real estate leases totaling $0.5 million. All letters of credit are collateralized in cash and recorded on the balance sheet as restricted cash. In November 2021, $0.8 million cash was restricted as part of a customs bond on international imports

Off-balance sheet arrangements


We did not have during the periods presented, and we do not currently have, any
off-balance sheet arrangements, as defined in the rules and regulations of the
SEC.

Significant Accounting Policies and Estimates


For a description of our critical accounting policies and estimates, refer to
Part II, Item 7, Critical Accounting Policies and Estimates in our Annual Report
on Form 10-K for the year ended December 31, 2021. There have been no
                                       29

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Contents

material changes to the company’s significant accounting policies and estimates from its annual report on Form 10-K for the year ended December 31, 2021.

Recently Adopted and Issued Accounting Pronouncements

Recently issued and adopted accounting pronouncements are described in Note 2 to our financial statements included elsewhere in this document.

Emerging Growth Company Status


We are an "emerging growth company" (as defined in the JOBS Act). Section
102(b)(1) of the JOBS Act exempts emerging growth companies from being required
to comply with new or revised financial accounting standards until private
companies (that is, those that have not had a Securities Act registration
statement declared effective or do not have a class of securities registered
under the Exchange Act) are required to comply with the new or revised financial
accounting standards. The JOBS Act provides that an emerging growth company can
elect to opt out of the extended transition period and comply with the
requirements that apply to non-emerging growth companies but any such election
to opt out is irrevocable. We have elected to use this extended transition
period under the JOBS Act until the earlier of the date we (i) are no longer an
emerging growth company or (ii) affirmatively and irrevocably opt out of the
extended transition period provided in the JOBS Act. As a result, our financial
statements may not be comparable to companies who have adopted new or revised
accounting pronouncements.

© Edgar Online, source Previews

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Republic Services and Archaea Energy launch RNG joint venture https://purpleribbonproject.com/republic-services-and-archaea-energy-launch-rng-joint-venture/ Mon, 09 May 2022 22:28:35 +0000 https://purpleribbonproject.com/republic-services-and-archaea-energy-launch-rng-joint-venture/ By Republic Services Inc. | May 09, 2022 Republic Services Inc., an environmental services industry leader, and Archaea Energy Inc., the leading producer of renewable natural gas (RNG) in the United States, announced on May 5 a joint venture to develop 39 RNG projects in across the country. The partnership, the nation’s largest […]]]>

By Republic Services Inc. | May 09, 2022


Republic Services Inc., an environmental services industry leader, and Archaea Energy Inc., the leading producer of renewable natural gas (RNG) in the United States, announced on May 5 a joint venture to develop 39 RNG projects in across the country. The partnership, the nation’s largest RNG portfolio build to date, will convert landfill gas into pipeline-grade RNG that can be used for a variety of applications to replace gas from fossil fuels. The initiative is expected to drive substantial progress toward Republic’s long-term sustainability goal of beneficially reusing 50% more biogas by 2030.

“Sustainability is a growth platform for Republic, and our continued investment in landfill gas-to-energy projects delivers significant environmental and economic benefits to our stakeholders,” said Jon Vander Ark, President and CEO of Republic Services. “Market demand for renewable natural gas to reduce greenhouse gas emissions is growing significantly, and providing additional sources of RNG contributes to Republic’s ambitious sustainability goals, while helping customers and communities achieve their own climate action goals.

Archaea Energy will develop, design, construct and operate the RNG facilities, which will be located at Republic Services landfills in 19 states. Construction is expected to begin on the projects in late 2022, with project completion and commissioning expected through 2027. When fully operational, the 39 projects are expected to generate over 12.5 million MMBtu of RNG per year. The joint venture has signed a gas sales agreement with Republic to secure the long-term ability to process landfill gas and sell RNG and related environmental attributes.

Archaea Energy will contribute approximately $800 million, and Republic will contribute approximately $300 million for a total investment of approximately $1.1 billion in the joint venture over a five-year period.

Archaea is one of the largest producers of RNG in the United States, with a state-of-the-art RNG platform primarily focused on capturing and converting waste emissions from landfills into RNG and low-carbon electricity. Archaea develops, designs, builds and operates RNG facilities using an innovative and cost-effective manufacturing approach to project development, supported by a commercial strategy focused on long-term fixed-price contracts.

“We are honored to have been selected as Republic’s partner for this monumental joint venture, which is the beginning of a renewable energy platform that will become a critical part of Archaea’s mission to achieve the best environmental management and reducing greenhouse gas emissions,” said Nick Stork, co-founder and CEO of Archaea. “We are focused on long-term, value-driven capital investments that have a meaningful sustainability impact for future generations. We couldn’t be more aligned with this vision with our partners at Republic, and we’re We look forward to seeing the collective benefits this partnership will deliver to our respective shareholders, partners and communities.”

As a low-carbon fuel, RNG displaces a significant amount of greenhouse gas emissions and is increasingly recognized as a short-term climate strategy to reduce the carbon footprint of existing energy assets. Decarbonization efforts are expected to propel demand for RNG, with landfill gas offering greater scale and predictability than other sources for reliable renewable power generation.

The strategic partnership with Archaea Energy is expected to expand Republic Services’ renewable energy portfolio to more than 100 projects. It builds on a growing list of Republic environmental commitments, including fleet electrification and investments in the circularity of plastics, to create a more sustainable world.

Moelis & Company LLC is exclusive financial advisor to Republic Services, and Davis Polk & Wardwell LLP and Katz Barron are legal advisors to Republic Services.

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Restart Energy implements a photovoltaic system project worth more than 500,000 euros for Cottontex https://purpleribbonproject.com/restart-energy-implements-a-photovoltaic-system-project-worth-more-than-500000-euros-for-cottontex/ Thu, 05 May 2022 14:04:29 +0000 https://purpleribbonproject.com/restart-energy-implements-a-photovoltaic-system-project-worth-more-than-500000-euros-for-cottontex/ Restart Energy, one of the largest independent electricity suppliers on the local market, announces the signing of a contract worth more than 500,000 euros with Cottontex, for the installation of photovoltaic photogenerators with a power combined 700 kWp. The project includes the installation of 1,556 photovoltaic panels, over an area of ​​5,000 square meters, on […]]]>

Restart Energy, one of the largest independent electricity suppliers on the local market, announces the signing of a contract worth more than 500,000 euros with Cottontex, for the installation of photovoltaic photogenerators with a power combined 700 kWp.

The project includes the installation of 1,556 photovoltaic panels, over an area of ​​5,000 square meters, on the roofs of the Cottontex factories in Timisoara and Lugoj. The photovoltaic generator will produce 20,250 MWh in the next 25 years, representing a reduction in electricity costs of 4,050,000 euros. Thus, the company’s investment of more than 500,000 euros will be amortized in less than 3 years.

The investment aims to cover 32% of Cottontex’s energy needs and involves a reduction in the company’s carbon footprint of 6,375 tonnes and a reduction in radioactive waste of 60 kg.

“Solar projects are becoming interesting for more and more Romanian companies and we expect this trend to continue growing. Basically, with a quick payback investment, energy costs drop dramatically and we all benefit from a cleaner environment. The photovoltaic systems are modular and the sizing is done according to the needs of each customer, the location, the orientation of the roof or the degree of shading”, explains Armand Domuța, General Manager of Restart Energy.

“We are a family business with a sustainable business approach, constantly investing in new technologies. We made the transition to green energy with a vision for the future. In addition to the financial arguments, we also considered the beneficial effects of green energy on the environment,” said Erol Baeram, CEO of Cottontex.

In January 2021, Restart Energy signed a partnership with the American fund Interlink Capital Strategies in Washington DC to finance the development of 500 MW of renewable projects in Romania by 2025, in order to provide 100% locally produced green energy to all end customers.

In February 2021, Restart Energy successfully launched the first issue of convertible green bonds in Romania which were listed on the Bucharest Stock Exchange, with the code REO26.

In September 2021, after 4 years of development, Restart Energy launched another unique project in the world, a platform based on its technology to certify on the blockchain both the carbon footprint and the carbon dioxide avoided from being eliminated in atmosphere, as well as direct trade between environmental attributes and renewable energy players, www.redplatform.com.

Every time someone plants a tree, cleans a beach, consumes green energy, or takes action to protect the environment, they can log that action on the RED platform. Once the data is validated on the platform, the equivalent CO2 footprint is calculated and tokenized carbon credits are released which can be used to purchase green energy or obtain the cash equivalent. At the same time, a company can obtain carbon credits in the form of green tokens for its customers through unique QR codes printed on products or purchase receipts.

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“Early Adopters” States Approve LexisNexis® Rooftop Analytics Home Insurance Rating https://purpleribbonproject.com/early-adopters-states-approve-lexisnexis-rooftop-analytics-home-insurance-rating/ Tue, 03 May 2022 17:09:00 +0000 https://purpleribbonproject.com/early-adopters-states-approve-lexisnexis-rooftop-analytics-home-insurance-rating/ The LexisNexis Rooftop solution helps home insurance companies more accurately assess roof risk by help improve the relativity of loss cost and loss ratio ATLANTE, May 32022 /PRNewswire/ — LexisNexis® Risk Solutions, a leading provider of data and analytics for the insurance industry, today announced that LexisNexis® Rooftop, a risk assessment tool for insurance companies […]]]>

The LexisNexis Rooftop solution helps home insurance companies more accurately assess roof risk by help improve the relativity of loss cost and loss ratio

ATLANTE, May 32022 /PRNewswire/ — LexisNexis® Risk Solutions, a leading provider of data and analytics for the insurance industry, today announced that LexisNexis® Rooftop, a risk assessment tool for insurance companies home insurance, has been approved for rating in a number of states where the costs of losses from wind and hail have traditionally been high. Alabama, Georgia, Louisiana and South Dakota have recently been added to the growing list of states that have endorsed the model. LexisNexis Rooftop has been approved in each state where the design is registered.

LexisNexis Rooftop provides a predictive model to help home insurance companies segment properties based on roof risk. The score is created by combining aerial imagery information with weather-related total loss experience from auto and home insurance claims information, which assesses pre-existing damage and the likelihood of a future claim due to wind or hail. LexisNexis Rooftop aerial imagery information comes from Arturo, a provider of artificial intelligence analytics of property information and predictive analytics.

Home insurance loss ratios have increased, with the average loss ratio now above 89%, according to the latest report from S&P Global Market Intelligence, and the six states that have approved LexisNexis Rooftop account for nearly one-fifth (19, 2%) of all hail losses nationwide. According to the LexisNexis Home Trends 2021 report, Alabama, Georgia and Louisiana are three of the states with the highest wind-related losses between 2015 and 2020, and South Dakota has some of the highest loss costs for hail over that same six-year period.

“Roofs in poor condition are more prone to loss in catastrophic and non-catastrophic situations,” said Erin Oswalt, director of home insurance at LexisNexis Risk Solutions. As the market continues to see increasing levels of severity, frequency and types of catastrophic loss, home insurers are asking themselves how to anticipate major weather events.”

To help combat this, many home insurers are evaluating their pricing plans to determine how they can best manage their expense ratios. The LexisNexis Rooftop model shows up to 20 times the relativity of loss costs and an 18 times increase in loss rate relativity between the highest risk properties and the lowest risk properties. With accompanying data attributes, LexisNexis Rooftop can serve as a tool for home insurers for faster and more cost-effective decision making.

“As roof loss ratios continue to rise, home insurance companies are constantly looking for ways to better segment properties for roof risk,” Oswalt said. “With LexisNexis Rooftop now approved in six states, several of which have some of the highest wind and hail claims in the nation, and additional regulatory filings underway, home insurers serving these states can better manage their expense ratios and their pricing policies more accurately.”

To help insurers better assess risk, LexisNexis Rooftop:

  • Provides a predictive risk score from 1 to 100 that indicates the likelihood of a significant climate claim over the next 12 months.
  • Returns a score even if a recent aerial image is not available.
  • Provides up to 80 actionable attributes, including recent weather events and related claims information, as well as dozens of Arturo’s image details.
  • Is available system-to-system in an automated process through a single point of access where LexisNexis Risk Solutions provides state-of-the-art data analysis solutions such as CLUE® Property, LexisNexis® Current Carrier Property, LexisNexis® Property Data Prefill and others .

LexisNexis Rooftop will continue to be filed in other states, and LexisNexis Risk Solutions has a filing support team available to support direct carrier filings.

For more information on LexisNexis Rooftop, click here.

About LexisNexis Risk Solutions

LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to deliver insights that help businesses and government entities reduce risk and improve decisions for the benefit of people everywhere. We provide data and technology solutions for a wide range of industries, including insurance, financial services, healthcare and government. Headquarters in the metro Atlanta, Georgia, we have offices around the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision-making tools for professionals and enterprises. For more information, please visit www.risk.lexisnexis.com and www.relx.com.

contacts:
strong cha
Director, Communications
LexisNexis Risk Solutions
706.714.7083
[email protected]

Donna Armstrong
Brodeur Partners for LexisNexis Risk Solutions
[email protected]

SOURCE LexisNexis Risk Solutions

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Local focus: the power of tautoko means they’re here for the long haul https://purpleribbonproject.com/local-focus-the-power-of-tautoko-means-theyre-here-for-the-long-haul/ Mon, 02 May 2022 01:45:16 +0000 https://purpleribbonproject.com/local-focus-the-power-of-tautoko-means-theyre-here-for-the-long-haul/ Gisborne trucking companies band together to survive Covid-19 and flooding. Traction. When it rains, it rains for J&R Savage Log Haulage. Road closures and restrictions on road use due to flooding around the east coast mean the business cannot operate in Gisborne for around a month. Owner-operators Rau and Jack Savage said they had secured […]]]>

Gisborne trucking companies band together to survive Covid-19 and flooding. Traction.

When it rains, it rains for J&R Savage Log Haulage.

Road closures and restrictions on road use due to flooding around the east coast mean the business cannot operate in Gisborne for around a month.

Owner-operators Rau and Jack Savage said they had secured temporary short-term contracts in Rotorua through their main Rewi Haulage Ltd to maintain their business.

This is on top of the financial struggles of running a business during Covid-19, but they are optimistic about the future.

“We received news from our manager on February 3, 2020 announcing Covid-19,” Rau said.

“As we look back on that date and everything that happened in between, it seems like a huge surprise that we are still negotiating.”

When the effects of Covid hit and the business was struggling, Rau and Jack credit the tautoko of other Gisborne businesses as the main reason they are still operating after the Covid-19 restrictions.

“Our ability to stay in the game has been helped by the great team we have around us,” she said.

“When cash flow started to seem non-existent, we communicated verbally and via email our financial situation and dropped payment plans going forward.

“While every creditor has given us their support, we have been able to move slowly to try to recover our business.”

Rau and Jack are grateful to all the businesses that have supported them through Covid.

The couple returned to Tairāwhiti in 2009 to be closer to whānau.
Rau credits his unwavering work ethic to his late father John Manuel.

While Jack was involved in logging on the East Coast for 11 years, Rau quit his job at Countdown five years ago to help the family business.

She began to deal only with administration, but Jack had other plans.

“I wanted Rau to know all aspects of this case,” he said.

“If all of a sudden I die, I want to know it should be safe and she could go on.”

Rau worked hard to learn all about his logging business: spending weekends with mechanics to learn about maintenance, learning to drive trucks, and building working relationships with creditors.

She has become the main point of contact for the company and said her role as a former administrator is now much more practical.

“I received a phone call from one of our drivers passing through Tolaga Bay, to let me know that he will be out of driving hours, I told him to meet me in Okitu.

“I swap with him and pick up the truck, unload at the port, then mount the trailer, refuel and then drive it back to the yard,” Rau said.

“One of our truck and trailer units requires a new COF, I am taking on this responsibility so Jack can overtake our second truck.

“I take the unit to our mechanic and work with him on the tools to get our unit ready for compliance.”

Rau and Jack say J&R Log Haulage still hasn’t recovered financially from Covid.

“We haven’t recovered from 2020, we are still vulnerable to the turbulence that comes with running a business,” Rau said.

The couple say there’s a silver lining to the twin challenges of Covid restrictions and moving operations to Rotorua – it’s given businesses resilience that will take them far into the future.

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Web 3 video game ArchLoot introduces new NFT protocol to improve interactive gameplay https://purpleribbonproject.com/web-3-video-game-archloot-introduces-new-nft-protocol-to-improve-interactive-gameplay/ Sat, 30 Apr 2022 07:28:00 +0000 https://purpleribbonproject.com/web-3-video-game-archloot-introduces-new-nft-protocol-to-improve-interactive-gameplay/ That’s why it’s more urgent than ever to bring new gameplay to space. Introducing ArchLoot, an adventurous titular loot-style digital world. New game UGC-P2E ArchLoot is the evolution of P2E games. With its innovative system, captivating world line and thrilling challenges, ArchLoot retains the charm of crypto excitement while adding improved graphics and a number […]]]>

That’s why it’s more urgent than ever to bring new gameplay to space. Introducing ArchLoot, an adventurous titular loot-style digital world.

New game UGC-P2E

ArchLoot is the evolution of P2E games. With its innovative system, captivating world line and thrilling challenges, ArchLoot retains the charm of crypto excitement while adding improved graphics and a number of new elements for an even greater gaming experience.

The possibilities are endless to customize a battle avatar in ArchLoot, i.e. a monster. Players can customize their entire setup, including different torsos, limbs, accessories from hundreds of choices and their color combinations, with each move unlocking or resetting in-game attributes in unexpected ways.

Immerse yourself in an adventurous planet with levels that feature exotic environmental elements including volcanoes, wilderness, rivers, mountains, ice fields and more that make up a rich and fantastical landscape. Fight bizarre creatures, push yourself through unruly wilderness, reap the best rewards and advance in the game. Various game modes including PVE, PVP, Clan Wars and other wild obstacle courses provide players every opportunity to create their own adventures with gear they’ve designed themselves.

Introducing Interactive NFTs

The game introduces interactive NFT gameplay, the first of its kind, to allow chain implementation of NFT upgradable characters/props.

The monsters in the game are composable avatars that come in loot-style NFT games. Players can freely assemble their monsters from a comprehensive NFT repertoire, where each compartmentalized part can be respectively upgraded, strengthened or redesigned to create new attributes. Protected by a treasure contract, all user modification metadata will be recorded on-chain when an NFT enters the market and therefore protect the merits of players.

This new breed of NFT gameplay is made possible by EIP-4985 and BEP-129, protocols born for GameFi. Enhancing the functionality of Loot, the technology enables the creation of all digital properties as numbers, greatly reducing the barrier to collaboration across ecosystems.

For both crypto and non-crypto gamers, ArchLoot intends to provide not only a better way to play – but also an increasingly viable monetization method, form of identity and social connector, which will finally be a practice ideal of blending traditional gaming spirits with crypto boosting to spearhead GameFi 2.0.

About ArchLoot

Launched in 2022, ArchLoot is a UGC-P2E game. It provides the industry’s first interactive gameplay, which fully enables the NFT chain implementation of upgradable characters/props and unleashes its potential for playability and user-generated content robustness. The game aims to build an ecosystem, including a great game and a creative community, that truly strikes a balance between playability, accessibility, and profitability.

Bringing together the talents of the world’s leading game publisher, blockchain projects and financial elites, the team currently operates on all continents and is instrumental in driving long-term success.

Official website: archloot.com

News contact details: contact@archloot.com

Picture – https://mma.prnewswire.com/media/1806905/image.jpg

SOURCE ArchLoot

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Stock Commentary: Meralco’s first-quarter net profit rose 28% to 5.6 billion pesos https://purpleribbonproject.com/stock-commentary-meralcos-first-quarter-net-profit-rose-28-to-5-6-billion-pesos/ Wed, 27 Apr 2022 01:02:00 +0000 https://purpleribbonproject.com/stock-commentary-meralcos-first-quarter-net-profit-rose-28-to-5-6-billion-pesos/ Meralco [MER 347.00 1.34%] https://www.philstar.com/business/stock-commentary/2022/04/27/2177134/meralco-q1-net-income-28-p56-billiona giant electricity distribution company, reported a net profit of 5.6 billion pesos in Q1/22, up 29% from the 4.3 billion pesos it reported in the first quarter of the year. ‘last year. Consolidated core net income increased 10%, which MER attributes to “higher contributions” from its power generation business and […]]]>

Meralco [MER 347.00 1.34%] https://www.philstar.com/business/stock-commentary/2022/04/27/2177134/meralco-q1-net-income-28-p56-billiona giant electricity distribution company, reported a net profit of 5.6 billion pesos in Q1/22, up 29% from the 4.3 billion pesos it reported in the first quarter of the year. ‘last year.

Consolidated core net income increased 10%, which MER attributes to “higher contributions” from its power generation business and higher volume of power sold.

The company attributes the pro-profit impact of the CREATE law to the difference between its “net result” and its “core consolidated net result”.

MER said the continued easing of movement restrictions had led to higher energy consumption in “all segments”, and its number of customers had increased by 4% to 7.46 million while New regions of the country are “energized” and as economic activity continues to come back online. in a hybrid on-side/WFH environment.

MER warned that Russia’s ongoing invasion of Ukraine and the resulting (and will result) uncertainty in global energy markets could have “a significant impact on electricity consumption customers in the future”.

MB RESULTS

Electricity consumption is (usually) a good signal of economic activity and growth.

Does this mean that we can consider brownouts as a positive sign for the economy?

No, no, not really; the electricity industry is a truly fascinating mix of public policy, long-term planning, financial incentives and demographics, and all of this before even getting to the basics of supply and demand.

Still, the increase in sales is a good sign for our country and its economy.

The warning that the price of electricity in the world could reduce electricity consumption “in the future” is a little worrying, because it is essentially a warning from the MER that the Russia / Ukraine still has the potential to trigger a wider economic crisis. It does.

But that doesn’t mean it’s certain or that it will happen. Just something to put in the brain for future use if we saw data suggesting a decrease in customer growth and consumption, or a slight increase in the market conflict or uncertainty it might cause.

Merkado Barkada is a free daily newsletter on PES, investment and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive full daily updates.
Merkado Barkada’s opinions are provided for informational purposes only and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor should do their own due diligence before trading, as the facts and figures in each particular article may have changed.

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