Financial attributes – Purple Ribbon Project http://purpleribbonproject.com/ Sat, 27 Nov 2021 15:04:34 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://purpleribbonproject.com/wp-content/uploads/2021/10/icon-12.png Financial attributes – Purple Ribbon Project http://purpleribbonproject.com/ 32 32 Global Industry Growth, Share, Size, Trends and Segmentation Report https://purpleribbonproject.com/global-industry-growth-share-size-trends-and-segmentation-report/ Sat, 27 Nov 2021 15:04:34 +0000 https://purpleribbonproject.com/global-industry-growth-share-size-trends-and-segmentation-report/ The 2021 Global Irbesartan Tablets Market Research Report produces information on the market size, share, trends, growth, cost structure, capacity, revenue, and forecast 2026. This report also contains a general and comprehensive study of the Irbesartan Tablets market with all its aspects influencing the market growth. This report is a large-scale quantitative study of the […]]]>

The 2021 Global Irbesartan Tablets Market Research Report produces information on the market size, share, trends, growth, cost structure, capacity, revenue, and forecast 2026. This report also contains a general and comprehensive study of the Irbesartan Tablets market with all its aspects influencing the market growth. This report is a large-scale quantitative study of the Irbesartan Tablets industry and provides data to strategize to expand the market growth and effectiveness.

Abstract:

The research report on Irbesartan Tablets market includes an in-depth assessment of past and present business scenario to provide a conclusive overview of industry growth patterns over 2021-2026. It shines a light on sizes and shares markets and submarkets, with a focus on key growth drivers, barriers and lucrative opportunities impacting business dynamics.

Request a copy of this report @ https://www.nwdiamondnotes.com/request-sample/84659

According to expert analysts, the Irbesartan Tablets market is expected to register notable growth during the study period, strengthening at XX% CAGR throughout.

The research literature also includes actionable insights into the competitive landscape, with an emphasis on well-known strategies used by major competitors to enjoy strong profit margins in the years to come. In addition, the document answers all questions relating to the implications of the COVID-19 pandemic.

Market Snapshot:

Geographic perspective:

  • The major regional contributors of the Irbesartan Tablets market are Americas, APAC, Europe, Middle East and Africa.
  • The market share in relation to the volume of consumption and the value of each regional market is taken into account.
  • The role of key regions in the overall progress of the industry is calculated.

Product landscape overview:

  • The document segments the product terrain of the Irbesartan Tablets market into 75 mg tablets, 150 mg tablets and 300 mg tablets.
  • The industry share of each product segment is shown.
  • Data relating to the overall revenue generated and the total sales amassed by each type of product is provided.

Summary of application spectrum:

  • The application spectrum of Irbesartan Tablets market is split into Hospital pharmacies, retail pharmacies and online pharmacies.
  • The consumption volume and value estimates for each application scope are supported with statistics.
  • Approximations for the market share of each application segment during the analysis period are also listed.

Overview of the competition arena:

  • The major companies in the Irbesartan Tablets Market are Apotex, Sanofi, Teva, Jiangsu Hengrui Medicine, Taj Pharmaceuticals, Zhuhai Rundu Pharmaceutica and Verdant Life Sciences.
  • The document offers a business overview of all the players mentioned.
  • Records of net revenue, pricing models, operating profit, sales, and other financial attributes of each organization are systematically sorted.
  • The manufacturing facilities and operating areas of the listed actors are indicated.
  • Up-to-date data on partnerships, associations and new entrants in the field are also presented in the study.

The key questions answered by this report are:

  • What will be the scale and growth rate of the Irbesartan Tablets market in the estimated years from 2021 to 2026?
  • What are the major driving factors driving the Irbesartan tablets market?
  • What are the opportunities and challenges facing the market?
  • Who are the major vendors of the Irbesartan Tablets market?
  • What are the trend characteristics that manipulate market equity?
  • What are the key products of Porter’s five forces model?
  • What is the global outlook for the expansion of the Global Irbesartan Tablets Market?

Reasons why you should buy this report

  • Understand the current and future of the Irbesartan Tablets market in both developed and emerging markets.
  • The report helps to realign the business strategies by highlighting the Irbesartan Tablets business priorities.
  • The report throws light on the segment expected to dominate the Irbesartan Tablets industry and market.
  • Forecast regions that are expected to see rapid growth.
  • The latest Irbesartan Tablets industry developments and details of industry leaders along with their market share and strategies.
  • Save time on entry-level research as the report contains significant data regarding growth, size, major players and industry segments.
  • Save time and perform entry-level research distinguishing growth, size, major players and segments in the global market.

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COVID-19 Qualitative Analysis and Competitive Industry Scenario 2026 https://purpleribbonproject.com/covid-19-qualitative-analysis-and-competitive-industry-scenario-2026/ Thu, 25 Nov 2021 07:29:39 +0000 https://purpleribbonproject.com/covid-19-qualitative-analysis-and-competitive-industry-scenario-2026/ Abstract: The Energy Management Systems (EMS) market research report provides conclusive data on the growth patterns of the industry over the period 2021-2026. It details the key aspects influencing the business sphere, such as growth drivers and constraints, while highlighting the associated opportunities and risks. According to industry experts, the energy management systems (EMS) market […]]]>

Abstract:

The Energy Management Systems (EMS) market research report provides conclusive data on the growth patterns of the industry over the period 2021-2026. It details the key aspects influencing the business sphere, such as growth drivers and constraints, while highlighting the associated opportunities and risks.

According to industry experts, the energy management systems (EMS) market is expected to register a CAGR of XX% over the duration of the study.

Request a copy of this report @ https://www.nwdiamondnotes.com/request-sample/81989

The study also analyzes historical and current data for a more accurate description of future industry performance. Additionally, market segments and competitive landscape are examined at a granular level to provide a comprehensive view of the industry scenario. Continuing on, the report highlights the preliminary market response to the Covid-19 pandemic and provides advice on the best strategies for the future.

Market Snapshot:

Regional perspective:

  • Based on the regional terrain, the energy management systems (EMS) market spans North America, Europe, Asia-Pacific, South America, the Middle East, and Africa, Southeast Asia.
  • The economic conditions in the main regions and their impact on the overall compensation scope of the industry are discussed in detail.
  • The market share and consumption growth rates of each regional contributor over the duration of the study are also documented.

Presentation of the product range:

  • The product line of the energy management systems (EMS) market is fragmented into software, services and hardware.
  • An in-depth analysis of the consumption value and volume is presented along with the market share held by each type of product.
  • The total sales and turnover of all product segments are also mentioned in the report.

Summary of scope:

  • The scope of the energy management systems (EMS) market is divided into energy and energy, telecommunications and IT, building, business, healthcare and others.
  • The report incorporates an analysis of the consumption value and volume of each application segment during the forecast period.
  • The overall market share captured by the individual application segments is also included.

Competition overview:

  • The major players operating in the energy management systems (EMS) market are GE Honeywell Johnson Controls Schneider Electric Siemens ABB Group Cisco Systems IBM Eaton Corporation Emerson Electric Rockwell Automation Delta Electronics and Inc. DEXMA Yokogawa Electric Corporation GridPoint.
  • Basic information about the company, including details regarding the operational areas and distribution channels used by major industry players, is documented in the report.
  • Information relating to sales, gross margins, revenues, pricing models and other financial attributes of listed companies is also provided.
  • The latest strategic ventures such as collaborations and partnerships, mergers and acquisitions, as well as data on new entrants to the industry are meticulously compiled.

Main aspects included in the report:

  • Product sales information.
  • Current and forecast market share as well as the valuation of each company mentioned.
  • Scope of sales and distribution of market majors.

Influence of the Energy Management Systems (EMS) Market report:

  • Comprehensive assessment of all opportunities and risks in the Energy Management Systems (EMS) market.
  • The Energy Management Systems (EMS) Market Recent innovations and major events.
  • A detailed study of business strategies for the growth of major players in the Energy Management System (EMS) Market.
  • Insightful study on the growth area of ​​the energy management systems (EMS) market for the coming years.
  • In-depth understanding of Energy Management Systems (EMS) market drivers, restraints, and major and minor markets.
  • Favorable impression within the latest vital technology and market trends hitting the energy management systems (EMS) market.

The vast assortment of tables, charts, diagrams, and graphs obtained in this market research report generate a strong niche for in-depth analysis of the ongoing trends in the Energy Management System (EMS) market. The report also examines the latest developments and advancements among the major market players such as mergers, partnerships and achievements.

Energy Management Systems (EMS) market research reports include PESTLE analysis:

  • PORTER’s Five Forces Analysis
  • Market Competition Scenario Analysis
  • Product lifecycle analysis
  • Analysis of production by region / company

Energy Management Systems (EMS) Market Drivers Affecting:

Briefly, the Global Energy Management Systems (EMS) Market report offers a unique solution to all key players covering various aspects of the industry such as growth statistics, development history, industry share, energy management systems (EMS) market presence, potential buyers, consumption forecasts, data sources and beneficial conclusion.

TABLE OF MAIN CONTENTS OF THE REPORT:

Chapter 1 Industry Overview

Chapter 2 Production Market Analysis

Chapter 3 Sales Market Analysis

Chapter 4 Consumer Market Analysis

Chapter 5 Production, Sales and Consumption Market Benchmarking

Chapter 6 Major Manufacturers Production and Sales Market Benchmarking

Chapter 7 Major Product Analysis

Chapter 8 Analysis of Major Applications

Chapter 9 Industry Chain Analysis

Chapter 10 Global and Regional Market Forecast

Chapter 11 Major Manufacturers Analysis

Chapter 12 Feasibility Analysis of a New Investment Project

Chapter 13 Conclusions

Chapter 14 Appendix

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With a $ 2 million deficit, impending layoffs at the Jefferson County Committee for Economic Opportunity https://purpleribbonproject.com/with-a-2-million-deficit-impending-layoffs-at-the-jefferson-county-committee-for-economic-opportunity/ Mon, 22 Nov 2021 15:48:00 +0000 https://purpleribbonproject.com/with-a-2-million-deficit-impending-layoffs-at-the-jefferson-county-committee-for-economic-opportunity/ Less than a month after the board of directors of the Jefferson County Committee for Economic Opportunities fired executive director Sharon Myles and terminated five personal service contracts, layoffs are imminent at the agency after the board of directors The administration recently learned of a $ 2 million financial shortfall, said Chairman Gary Richardson. . […]]]>

Less than a month after the board of directors of the Jefferson County Committee for Economic Opportunities fired executive director Sharon Myles and terminated five personal service contracts, layoffs are imminent at the agency after the board of directors The administration recently learned of a $ 2 million financial shortfall, said Chairman Gary Richardson. .

“We were made to believe that we had a certain amount of money,” Richardson said. “It is not true.”

Learn more about JCCEO:

JCCEO fires its managing director, 5 others

Richardson attributes the shortfall to “excessive and inappropriate spending,” including “money that was intended for one grant and used by another. It was just gross mismanagement of the agency.

In September, JCCEO signed a contract with Mississippi Early LLC, a nationwide provider of training and technical assistance, according to its website, to oversee the agency’s business operations after Myles fired CFO Richard Wells in March. 2020 and successor Jaqueline Hill, who was hired November 16, 2020 and then ended on February 17, 2021.

Mississippi Early was to be paid $ 1,000 per day for three days per week of service from September 1, 2021 to December 31, 2021, according to a report prepared for the board by attorney Thomas W. Scroggins of Constangy, Brooks, Smith and Prophete LLP on October 12, 2021 and obtained by AL.com.

This contract stipulates that Ann Massa is “the key personnel”, according to the report. Although a rate of pay for Massa was not reflected in JCCEO’s payroll system, according to Scroggins, she was paid $ 31,200 on August 19, 2021, $ 7,800 on August 27, 2021, $ 27,000 on September 7, 2021, $ 7,800 on September 10, 2021 and $ 6,000 on September 24, 2021 – totaling $ 79,800 in just over a month.

Massa’s contract was among those terminated by JCCEO’s board of directors on November 1.

The board learned of the deficit, Richardson said, last Thursday at a special meeting called – because until last week only Myles had access to JCCEO’s financial accounts. A day later, the agency missed pay.

“Payroll is downloaded by direct deposit at midnight [the night before]”Richardson said.” We woke up to find nothing was there. “

The employees were paid later the same day after interim executive director Brenda Singellos was informed by Mississippi Early of an account for $ 186,000, which could be transferred to cover payroll. (The total amount needed to cover bi-weekly payroll is around $ 400,000, said Richardson.)

“[Missing payroll] didn’t have to happen, ”said Richardson. “We had money … to make this payroll. [It] Could have been avoided if we had received the true financial information, which is indicative of the fact that we did not receive reliable financial information about the organization. “

AL.com’s efforts to reach Sharon Myles have been unsuccessful.

Richardson admits that the agency now does not have the funds to deal with the payroll until the end of its fiscal year, which is December 31, 2021.

The board is scheduled to meet at 9 a.m. on Monday to determine how to rectify the gap.

“We have a lot of problems,” says Richardson. “We have to adjust the transaction to what’s in the bank. We just need to make adjustments based on what we know we have on hand. This is where we are at.

Richardson says the board has been alerted to the possible financial problems of three “whistleblowers.”

“We have asked our attorney to investigate these allegations,” Richardson said. “He hired a CPA firm [Shepard-Harris & Associates] to investigate specific allegations. I’m just asking for these documents. And we were blocked, given all kinds of reasons and excuses, even going so far as to attack the board of directors saying that we did not vote properly to act in favor of these documents. That kind of stuff. I said, no, we are the governing body. We ask for this information. We are awaiting this information.

The board has not formally explained the reasons for Myles’ sacking and termination of personal service contracts on November 1. deficit which now puts jobs at risk.

“We’re way beyond that,” Richardson said.

The president is fully aware of the lingering and obvious question: why was the board unaware of the failures, and what is its guilt?

“None of this was overseen by the board of directors,” Ricardson said. “It was done outside of the board. The contracts were issued without the approval of the board of directors. To give us a rosy picture of the agency when we actually have a $ 2 million deficit, that was it.

Prior to a special board meeting on November 1, 2021, Myles prepared a five-page report after “[noticing] one of the items on the agenda is to discuss the job performance of the executive director.

“I have worked diligently and consistently to change the culture, identify non-conformities, put in place processes and procedures to correct non-conformities, develop a non-threatening work environment, apply for new grants, develop partnerships, increase the agency’s revenues, have a presence (sic) in the communities we serve ”, underlines its report. “I do my best to maintain the integrity of the agency and make the adjustments necessary to do business and serve the most needy citizens of Jefferson County.”

Richardson and the board argue otherwise.

“People who practice deception don’t do it so that you can catch them,” he said. “They often try to hide the deception, but they usually all end up getting caught.”

Myles was hired in November 2019 to replace DePriest Waddy, who had resigned months earlier to join Family First in Atlanta. She was from Georgia, where she had been director of operations at the Clayton County Services Authority in Forest Park.

His annual salary at JCCEO was $ 156,000.

JCCEO describes its mission as “to reduce poverty and help low-income citizens of Jefferson County, Alabama meet basic needs and become self-reliant.” Its programs include Head Start, utility and rental assistance, and home weatherization projects.

This story will be updated.


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Willpower and positivity are essential for a successful life https://purpleribbonproject.com/willpower-and-positivity-are-essential-for-a-successful-life/ Sat, 20 Nov 2021 10:23:59 +0000 https://purpleribbonproject.com/willpower-and-positivity-are-essential-for-a-successful-life/ As humans, we all have ups and downs in life. What keeps us going and fighting the battle of life is the determination to survive and run. The end of the game begins when we give up and helplessness sets in. Here is the importance of two of the crucial attitudes that are vital in […]]]>

As humans, we all have ups and downs in life. What keeps us going and fighting the battle of life is the determination to survive and run. The end of the game begins when we give up and helplessness sets in. Here is the importance of two of the crucial attitudes that are vital in this melee of life: willpower and positivity.

Will in this context means the strength of spirit to fight. Will is the intention of the mind, and power signifies the strength of that resolve. The higher the willpower, the greater the internal strength of the mind to face any eventuality or exercise any self-control like quitting smoking, etc. Willpower is inevitable to wage any war in life: whether internal or external.

Positivity is the attitude of being optimistic or positive in any scenario. When the chips are low, only the attitude of positivity can keep us going. Being optimistic is a boon even in difficult times as it helps us design counterattack strategies to overcome difficulties / tragedies. It also allows you to succeed despite obstacles / handicaps.

Willpower and positivity is therefore the best overall attitude tool that a human being should have to face any challenge in life. There are a number of instances in the history of mankind where individuals have been able to achieve wonders only through this dual attitude. Who does not know the story of Hellen Keller, the legendary American author and political activist who went blind before the age of 2 but continued to pursue her career despite everything? Stephen Hawking, one of the greatest physicists of our time, lived with the dreaded disease known as motor neuron (which causes an individual to lose voluntary muscles) for over 50 years of his life. He was confined to a wheelchair and even had communication difficulties but that did not prevent him from continuing his scientific research which earned him worldwide recognition. Closer to home, we have the example of Sudha Chandran who became an accomplished dancer of Bharat Natyam despite the loss of one of her legs in an accident. Likewise, we must remember Ravindra Jain who overcame lifelong blindness to become one of the famous personalities as a music composer and lyricist in Bollywood.

All of the above examples show that good intention, willpower, and an optimistic outlook (positivity) can help an individual overcome the worst physical / mental issues and be successful.

Applicability for the elderly:

Both of the above attitudes are absolutely imperative for senior citizens. As we age, our physical and mental faculties also grow. We become weak, obsolete, helpless and tired: all this leads to a further weakening of physical and mental strength, which makes us more dependent and withdrawn. Lack of physical zeal and mental toughness add to the problem. If this continues for a long time, it becomes the beginning of the end of our physical will and mental strength to be a part of this world.

It is at this point in our lives that seniors need the dual attitude of will and positivity that can pull them out of impotence syndrome and re-energize their system. This intention can enable them to find purpose in life and to live happily.

It is against this background that seniors should try to develop these two attributes through various activities / actions so that they remain mentally strong and always feel optimistic about the future. Family members and geriatric counselors also have an important role to play in instilling these two attributes in the older people with whom they interact.

Some steps to build willpower and positivity:

1. Live a balanced life including good physical activity, mental exercise and good relationship maintenance.

2. Do not think about regrets but only remember the happy times of the past.

3. Trying to find life’s purpose for the future for the short term say, 1 to 3 years.

4. Read, if possible, or listen to people’s lives who succeeded despite everything.

5. Specific exercises to improve willpower like setting difficult self-imposed deadlines, using the opposite hand for activities, deliberately reducing financial expenses, changing the rhetoric, among others.

6. Always be in touching positive people / warm friends.

7. Spend a little time with young people.

8. Render physical services / give goods or financial means to the needy with the joy of giving.

9. Make one used to seeing happy / comic / series movies during the day.

Above is only provisional and suggested advice. However, the most important aspect is that older people must believe in two axioms:

a. Everything is achievable.

b. Sunlight always dispels darkness.

Belief in these two axioms will allow an elderly person to move forward with confidence, endowed with a dual attitude of will and positivity. Besides giving them a renewed confidence to do things that until now seemed difficult, it will also make them feel good about themselves; this greatly helps to improve their efficiency in zealous life.

May all old people be blessed with the double attitude of WILL and POSITIVITY!!

(To receive our electronic paper daily on WhatsApp, please click here. We allow sharing of the PDF document on WhatsApp and other social media platforms.)

Posted on: Saturday November 20, 2021 3:53 PM IST


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Be comfortable with technology, ANAN charges accounting students https://purpleribbonproject.com/be-comfortable-with-technology-anan-charges-accounting-students/ Thu, 18 Nov 2021 00:45:07 +0000 https://purpleribbonproject.com/be-comfortable-with-technology-anan-charges-accounting-students/ The President of the Association of National Accountants of Nigeria, Oyo State Branch, Professor Oyelakin Awobode, instructed the students of the Department of Financial and Management Studies at the Ibadan Polytechnic of the need to take advantage of digitization by being comfortable with technology in order to remain relevant even as professional accountants in the […]]]>

The President of the Association of National Accountants of Nigeria, Oyo State Branch, Professor Oyelakin Awobode, instructed the students of the Department of Financial and Management Studies at the Ibadan Polytechnic of the need to take advantage of digitization by being comfortable with technology in order to remain relevant even as professional accountants in the 21st century.

“Right now, you have to develop yourself beyond being a professional accountant, because very soon, computers will take over most of an accountant’s job,” he noted.

Professor Awobode gave the charge on Wednesday last week during the celebration of International Accountants Day 2021, organized by the association, which was held in the meeting room of the École Polytechnique.

Speaking further, he said that “the world is changing and we must change with it. If we are to face the challenges posed by the COVID-19 pandemic and adapt to the new normal, then we must increase our capacity for learning in blockchain technology, artificial intelligence, forensics and other technological innovations. “

Presenting an article on the topic “Your Career to Become a Professional Accountant” at the event, Prof Awobode said the education and training of future accountants in Nigeria should reflect the economic environment, structural and ideological of the country.

He noted that becoming a good accountant is not the result of being a member of the Institute of Chartered Accountants of Nigeria (ICAN), the Association of National Accountants of Nigeria (ANAN) or being associated with d ‘other foreign accounting bodies, but to strictly adhere to all the required qualifications. from a sound professional.

He highlighted the three attributes that distinguish true professionals: competence, discipline and integrity.

He urged students to hold onto the three attributes dear to their hearts as they climb the ladder of career success.

“Being a professional accountant is noble and rewarding if one wants to demonstrate integrity, diligence, competence and not compromise the ethics of the profession,” he said.

The representative of the Rector and Dean of the Faculty of Financial and Management Studies, Dr Mojeed Kolawole Lawal, said in his remarks that the institution was pleased to welcome the ANAN delegation in commemoration of the International Accountants Day. of this year.

He noted that the gesture had enabled the students to gain more knowledge about their study program and to understand that there was no difference between the two professional accountancy associations in Nigeria, ICAN and ANAN, but that the two different professional orders serve the same objectives. .

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Despite the huge investment by the government and international organizations in the water sector, water scarcity has become a permanent nightmare for the residents of Abeokuta, the capital of Ogun State. This report x-rays the lives and experiences of residents getting clean, safe, and affordable water amid the upsurge in COVID-19 cases in the state.


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Right-wing anti-vax forces spark fury over new pandemic powers bill in Australian state https://purpleribbonproject.com/right-wing-anti-vax-forces-spark-fury-over-new-pandemic-powers-bill-in-australian-state/ Fri, 12 Nov 2021 04:52:27 +0000 https://purpleribbonproject.com/right-wing-anti-vax-forces-spark-fury-over-new-pandemic-powers-bill-in-australian-state/ In the past two weeks, relatively small – but heavily media-promoted – anti-lockdown and anti-vaccination protests in Melbourne have stirred against a new pandemic powers bill introduced by the Party government. of the State of Victoria. Victorian Prime Minister Daniel Andrews gave a COVID briefing late last year [Screenshot from ABC News broadcast] The bill […]]]>

In the past two weeks, relatively small – but heavily media-promoted – anti-lockdown and anti-vaccination protests in Melbourne have stirred against a new pandemic powers bill introduced by the Party government. of the State of Victoria.

Victorian Prime Minister Daniel Andrews gave a COVID briefing late last year [Screenshot from ABC News broadcast]

The bill was submitted to the lower house of the state parliament in two days late last month, but has yet to pass the upper house, where the government lacks a majority and depends on support from the Greens and other parties.

Wider legitimate concerns about aspects of the bill have been exploited to help the business-led offensive to lift any remaining COVID-19 security restrictions. The aim of this campaign is to force people to “live with” the deadly virus, despite the continued high number of infections, especially in schools which have just reopened.

A protest outside the state parliament last weekend featured anti-vaccination slogans such as “Vaxtoria”, alongside “kill the bill”. Participants clearly defied the wearing of masks and other social distancing requirements. One speaker was applauded when he said: “Thank you my super broadcaster colleagues”. He added: “We are the counter-revolution and we will continue to march. “

In another such protest last Tuesday, extreme right-wing elements were joined by Liberal Party shadow state treasurer David Davis, who was introduced as the keynote speaker. He echoed his party’s head of state, Matthew Guy, who accused Prime Minister Daniel Andrews’ government of drafting legislation on the “most extreme” pandemic in Australia.

In fact, the legislation is similar to the laws of other states. Guy exposed the “economic reopening” agenda behind this demagogic campaign when he insisted that the powers to impose restrictions were no longer needed. This was because Andrews, as part of the bipartisan ‘National Cabinet’, had decreed that no further lockdowns would occur once adult double vaccination rates hit 80% (which is about 68% of the population. population).


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As jobs are on the verge of disappearing, here are the 5 key skills you need to pivot your career https://purpleribbonproject.com/as-jobs-are-on-the-verge-of-disappearing-here-are-the-5-key-skills-you-need-to-pivot-your-career/ Tue, 09 Nov 2021 15:10:16 +0000 https://purpleribbonproject.com/as-jobs-are-on-the-verge-of-disappearing-here-are-the-5-key-skills-you-need-to-pivot-your-career/ Due to social distancing, lockdowns, isolation and the increase in virtual communication during COVID, our jobs have already changed and future jobs will never be the same again. Over the next few years, some jobs will “disappear”, but most are subject to redesign thanks to advances in artificial intelligence and rapid changes in technology. So, […]]]>

Due to social distancing, lockdowns, isolation and the increase in virtual communication during COVID, our jobs have already changed and future jobs will never be the same again. Over the next few years, some jobs will “disappear”, but most are subject to redesign thanks to advances in artificial intelligence and rapid changes in technology.

So, which jobs will be impacted? After the pandemic, all jobs will be redesigned. This is the evolution of our now very rapid technology-driven era. Medical staff, teachers, accountants, brokers and even judges. Those to disappear, however? Assuming that “remote work” is to remain dominant, any work closely related to an office must transform. Receptionists, office managers, administrators will all be affected. As we continue to work remotely, people will become more self-sufficient and the dependence on the administrator for rudimentary tasks will decrease dramatically.

Other sectors such as retail, travel and hospitality will adapt to survive. We’ve already seen the change during check-in at the airport, with automation and a traveling human to help us. Before you get too anxious, consider our postal service. Not so long ago, “post” work was practically extinct! Who posts more letters? Technology through online shopping has created an opportunity, and our bottlenecks have intensified it, putting our postal service in overdrive. We now have a traditional department that works alongside the biggest disruptor in retail.

If your job is destined to disappear or be redefined, the good news is that every job uses YOUR skills. These transferable skills do not belong to the job; they belong to you! Let’s take a look at the 5 key skills you need to pivot your career:

  1. Adaptable. Adapt and react quickly to your new situation and environment. Be the person who embraces and leads the charge. To capture value quickly, companies rely on forward-looking employees who are flexible to adapt to change. Have your mindset tuned in to the “benefits” and not get caught up in the past. Move where the trends go, not where they were.
  2. Learning attribute. Feed your curiosity, dig deeper, and reassess previous opinions. Demonstrate in-depth knowledge and understanding. Learning at surface level with a quick click of a button will not suffice. Learning will ensure you have a mindset of constant growth and give you confidence in your abilities. Curiosity and learning enrich your mind to embrace change and embrace the future.
  3. Initiative. Your initiative is closely related to the attribute of learning, enhancing and stretching your abilities and potential. It creates value for organizations and will help you be more problem-solving oriented. A hybrid work environment has fewer directions; thus, the initiative will be crucial to remain employable. It also builds confidence and helps your independence.
  4. Self-awareness. The gold bar of skills. Self-awareness integrates your emotional intelligence, your ability to take feedback into account, and helps you gain self-confidence. A strong self-awareness has always been an essential skill in life and in the future will be worth its weight in gold. This will be valuable not only for the leaders, but for all employees. It is your ability to see yourself as others perceive you and it is essential for your empowerment. For leadership roles, it will unleash your potential and that of others.
  5. communication skills. It’s more than talking and listening. A skilled communicator can quickly defuse a situation by the tone, pace, tone and timing of the conversation. An effective communicator can lead, influence, negotiate, sell, manage, and do more.

Many jobs will be redesigned and redefined and some will even disappear. As you further develop your transferable skills and attributes, you will be in a privileged position to take charge and easily transit to the next natural place.


Written by Roxanne Calder.

Follow the latest news live on CEOWORLD magazine and get updates from the US and around the world. The opinions expressed are those of the author and are not necessarily those of CEOWORLD magazine. Follow CEOWORLD magazine on Twitter and Facebook. For media inquiries, please contact: info@ceoworld.biz



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Addressing the poverty premium: a data-driven approach https://purpleribbonproject.com/addressing-the-poverty-premium-a-data-driven-approach/ Fri, 05 Nov 2021 15:26:08 +0000 https://purpleribbonproject.com/addressing-the-poverty-premium-a-data-driven-approach/ Poverty premium is a term that means more than being charged more for certain products and lack of credit history.; it can also amount to a digital exclusion. By placing more and more emphasis on the environmental, social and governance (ESG) agenda, banks do not wish to be seen as socially irresponsible. Regulators and authorities […]]]>

Poverty premium is a term that means more than being charged more for certain products and lack of credit history.; it can also amount to a digital exclusion.

By placing more and more emphasis on the environmental, social and governance (ESG) agenda, banks do not wish to be seen as socially irresponsible. Regulators and authorities are also increasingly focusing their attention on these issues, understanding that the poverty premium is an obstacle to regional and national economic progress.

Banks must therefore find ways to offer more nuanced services, so that fair banking is open and accessible to all. And it ultimately works to their advantage too. Not all demographics that are abandoned by digital services are poor – think millennials with no credit history or older baby boomers who are not digitally savvy – but by being unbanked or excluded from the system, they can easily follow a downward spiral and finish badly.

Banks also have the ability to provide digital education and coaching services, engage people, educate them better, and of course, avoid certain pitfalls. Through astute capture, processing and analysis of data and technology, banks can take the lead in addressing the worn-out biases that exist in traditional credit decision models over certain credentials or attributes, which are often the result of programming by human biases.

Thanks to open banking and shared data, especially since this theme is found in other sectors such as energy, insurance and health, fintech startups and neobanks are already at the origin of the change in this regard.

Download your copy of this Finextra white paper, produced in collaboration with Competent, to learn more.


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QUANTUM CORP / DE / MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND OPERATING RESULTS (Form 10-Q) https://purpleribbonproject.com/quantum-corp-de-management-discussion-and-analysis-of-financial-position-and-operating-results-form-10-q/ Wed, 03 Nov 2021 20:16:30 +0000 https://purpleribbonproject.com/quantum-corp-de-management-discussion-and-analysis-of-financial-position-and-operating-results-form-10-q/ The following discussion and analysis of our financial condition and results of operations should be read together with our consolidated financial statements, the accompanying notes, and other information included in this Quarterly Report and our annual report for the year ended March 31, 2021. In particular, the disclosure contained in Item 1A in our annual […]]]>
The following discussion and analysis of our financial condition and results of
operations should be read together with our consolidated financial statements,
the accompanying notes, and other information included in this Quarterly Report
and our annual report for the year ended March 31, 2021. In particular, the
disclosure contained in Item 1A in our annual report, as updated by Part II,
Item 1A in this Quarterly Report, may reflect trends, demands, commitments,
events, or uncertainties that could materially impact our results of operations
and liquidity and capital resources.
The following discussion contains forward-looking statements, such as statements
regarding COVID-19's anticipated impacts on our business, our future operating
results and financial position, our business strategy and
                                       17

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Table of contents plans and our goals for future operations. Please see the “Note Regarding Forward-Looking Statements” for more information on how to rely on these forward-looking statements.

PREVIEW

We are a technology company whose mission is to deliver innovative solutions to
organizations across the world. We design, manufacture and sell technology and
services that help customers capture, create and share digital content, and
protect it for decades. We emphasize innovative technology in the design and
manufacture of our products to help our customers unlock the value in their
video and unstructured data in new ways to solve their most pressing business
challenges.

We generate revenue by designing, manufacturing, and selling technology and
services. Our most significant expenses are related to compensating employees;
designing, manufacturing, marketing, and selling our products and services; data
center costs in support of our cloud-based services; interest associated with
our long term debt and income taxes.

Highlights from second quarter of fiscal year 2022 included:
•Revenue increased 5% from the prior quarter and 9% year-over-year to $93
million.
•We completed the Pivot3 assets acquisition, which adds a portfolio of industry
leading hyperconverged infrastructure (HCI) and intelligent software solutions
for the security and surveillance markets.
•We completed the EnClouden assets acquisition which will enable us to expand
the addressable market for our video surveillance portfolio, offering customers
a solution using their server hardware of choice with a flexible
subscription-based software model.
•We completed the refinancing of our term loan, significantly reducing our
annual debt service and greatly increasing our financial flexibility related to
covenants and restrictions.
•We brought on industry veteran John Hurley as Chief Revenue Officer. John
brings extensive experience working with the largest global enterprise,
commercial, and service provider customers.


COVID-19 IMPACT AND RELATED ACTIONS


Since the beginning of March 2020, COVID-19 has led governments and other
authorities around the world, including federal, state and local authorities in
the United States, to impose measures intended to reduce its spread, including
restrictions on freedom of movement and business operations such as travel bans,
border closings, business limitations and closures (subject to exceptions for
essential operations and businesses), quarantines and shelter-in-place orders.
These measures may remain in place for a significant period of time.

In light of these events, we have taken actions to protect the health and safety
of our employees while continuing to serve our global customers as an essential
business. We have implemented more thorough sanitation practices as outlined by
health organizations and instituted social distancing policies at our locations
around the world, including working from home, limiting the number of employees
attending meetings, reducing the number of people in our sites at any one time,
and suspending employee travel.

We have seen a gradual stabilization in our business during the second half of
fiscal 2021 and into fiscal 2022 as customers increasingly adapted to the
COVID-19 environment. The pervasive disruption in the global supply chain
continues to have an impact on our business. Before the current disruptions in
the global supply chain our historical backlog was very limited and typically
represented less than 5% of quarterly revenues. During our second fiscal quarter
our backlog grew to $50 million from $30 million at the end of the prior
quarter. This unprecedented backlog is a result of the strong demand we have
been seeing across our business but limited by the ongoing supply constraints.
Of the $50 million ending backlog, just over 70% of the backlog was from
hyperscaler customers and just over 85% of the backlog was related to tape
products. Approximately two-thirds of the backlog is expected to be shipped in
the second half of fiscal 2022 and the remaining one-third of the backlog has
ship dates early in fiscal 2023.

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We will continue to actively monitor the impact of COVID-19 and may take further
actions altering our business operations that we determine are in the best
interests of our employees, customers, partners, suppliers, and stakeholders, or
as required by federal, state, or local authorities. See "The recent COVID-19
pandemic could adversely affect our business, results of operations and
financial condition" in Part II, Item 1A, Risk Factors, of our most recent
Annual Report on Form 10-K for more information regarding the risks we face as a
result of the COVID-19 pandemic.



                             RESULTS OF OPERATIONS
                                           Three Months Ended September 30,                 Six Months Ended September 30,
(in thousands)                                2021                    2020                    2021                    2020
Total revenue                          $         93,180          $    

85 821 $ 182,278 $ 159,126
Total cost of sales (1)

                        54,793                47,087                   106,612                89,540
Gross profit                                     38,387                38,734                    75,666                69,586
Operating expenses
Research and development (1)                     12,389                10,233                    23,680                20,395
Sales and marketing (1)                          15,462                13,153                    29,414                24,723
General and administrative (1)                   11,466                10,263                    23,293                21,825
Restructuring charges                                 8                 1,585                       274                 2,637
Total operating expenses                         39,325                35,234                    76,661                69,580
Income (loss) from operations                      (938)                3,500                      (995)                    6
Other income (expense), net                         126                  (312)                      (71)                 (697)
Interest expense                                 (3,070)               (7,578)                   (6,956)              (14,015)
Loss on debt extinguishment, net                 (4,960)                    -                    (4,960)                    -
Net loss before income taxes                     (8,842)               (4,390)                  (12,982)              (14,706)
Income tax provision                                411                   202                       424                   622
Net loss                               $         (9,253)         $     (4,592)         $        (13,406)         $    (15,328)

(1) Includes stock-based compensation as follows:

                                              Three Months Ended September 30,                 Six Months Ended September 30,
(in thousands)                                   2021                    2020                    2021                    2020
Cost of revenue                          $             298          $        227          $            591          $        396
Research and development                             1,331                   591                     2,863                 1,062
Sales and marketing                                    613                   495                     1,113                   832
General and administrative                             830                 1,279                     1,706                 2,260
  Total                                  $           3,072          $      2,592          $          6,273          $      4,550



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Comparison of the Three Months Ended September 30, 2021 and 2020

Revenue
                                                    Three Months Ended September 30,
(dollars in thousands)                                 % of                                    % of
                                   2021               revenue              2020               revenue            $ Change            % Change
Product revenue
  Primary storage systems      $  16,683                  18            $ 20,610                  24            $ (3,927)                (19)
  Secondary storage systems       26,259                  28              18,903                  22               7,356                  39
  Devices and media               11,713                  13              11,337                  13                 376                   3
   Total product revenue          54,655                  59              50,850                  59               3,805                   7
Service revenue                   34,359                  37              31,494                  37               2,865                   9
Royalty revenue                    4,166                   4               3,477                   4                 689                  20
Total revenue                  $  93,180                 100            $ 85,821                 100            $  7,359                   9




Product revenue
In the three months ended September 30, 2021, product revenue increased $3.8
million, or 7%, as compared to the same period in 2020. Secondary storage
systems represented $7.4 million, or a 39% increase, driven by higher demand in
our hyperscale, backup and archive use cases. Primary storage systems decreased
$3.9 million, or 19%, partially driven by our transition to a recurring software
subscription licensing model which results in a shift from product to services
revenue.
Service revenue
We offer a broad range of services including product maintenance,
implementation, and training as well as software subscriptions. Service revenue
is primarily comprised of customer field support contracts which provide
standard support services for our hardware. Standard service contracts may be
extended or include enhanced service, such as faster service response times.
Service revenue increased 9% in the three months ended September 30, 2021
compared to the same period in 2020 driven partially by growing sales of our
recurring software subscription offerings as well as service revenue associated
with newly acquired businesses.
Royalty revenue
We receive royalties from third parties that license our LTO media patents
through our membership in the LTO consortium. Royalty revenue increased $0.7
million, or 20%, in the three months ended September 30, 2021 compared to the
same period in 2020 due to increased market volume of LTO media.

Gross profit and margin

                                                         Three Months Ended September 30,
(dollars in thousands)                                     Gross                                    Gross
                                       2021               margin %              2020               margin %            $ Change          Basis point change
Product gross profit               $  13,531                 24.8            $ 15,852                 31.2            $ (2,321)                  (640)
Service gross profit                  20,690                 60.2              19,405                 61.6               1,285                   (140)
Royalty gross profit                   4,166                100.0               3,477                100.0                 689                      -
Gross profit                       $  38,387                 41.2            $ 38,734                 45.1            $   (347)                  (390)



Product Gross Margin
Product gross margin decreased 640 basis points for the three months ended
September 30, 2021, as compared with the same period in 2020. This decrease was
due primarily to a product mix weighted towards lower margin offerings and cost
pressures as a result of constraints in the global supply chain.
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Service Gross Margin
Service gross margins decreased 140 basis points for the three months ended
September 30, 2021, as compared with the same period in 2020. This was partially
driven by cost pressures as a result of certain constraints in the global supply
chain.
Royalty Gross Margin
Royalties do not have significant related cost of sales.

Operating expenses
                                                          Three Months Ended September 30,
(dollars in thousands)                                       % of                                    % of
                                         2021               revenue              2020               revenue            $ Change            % Change
Research and development             $  12,389                13.3            $ 10,233                11.9            $  2,156                 21
Sales and marketing                     15,462                16.6              13,153                15.3               2,309                 18
General and administrative              11,466                12.3              10,263                12.0               1,203                 12
Restructuring charges                        8                   -               1,585                 1.8              (1,577)               (99)
  Total operating expenses           $  39,325                42.2            $ 35,234                41.1            $  4,091                 12



In the three months ended September 30, 2021, research and development expense
increased $2.2 million, or 21%, as compared with the same period in 2020. This
increase was primarily driven by an increase in personnel costs due to increased
headcount focused on new product development. This increase in headcount
includes those employees added through acquisitions over the year.
In the three months ended September 30, 2021, sales and marketing expenses
increased $2.3 million, or 18%, as compared with the same period in 2020. This
increase was driven by increased headcount as we invest in strategic areas to
accelerate growth. This increase in headcount includes those employees added
through acquisitions over the year. Both marketing expense and travel expense
have also increased over the prior year as COVID-19 restrictions ease.
In the three months ended September 30, 2021, general and administrative
expenses increased $1.2 million, or 12%, as compared with the same period in
2020. This increase was due primarily to increased legal and other expenses
related to our long-term debt amendments and business acquisition related
activities.
In the three months ended September 30, 2021, restructuring expenses decreased
$1.6 million, or 99%, as compared with the same period in 2020. The decrease was
the result of one-time workforce reductions in the prior year.

Other Income (Expense)
                                                             Three Months Ended September 30,
(dollars in thousands)                                             % of                                     % of
                                            2021                  revenue               2020               revenue             $ Change             % Change
Other income (expense)               $           126                   0            $    (312)                  -            $      438                 140
Interest expense                              (3,070)                  3               (7,578)                  9                 4,508                  59
Loss on debt extinguishment                   (4,960)                  5                    -                   -                (4,960)                     n/a



The increase in other income (expense), net during the three months ended
September 30, 2021 compared with the same period in 2020 was related primarily
to fluctuations in foreign currency exchange rates.
In the three months ended September 30, 2021, interest expense decreased $4.5
million, or 59%, as compared with the same period in 2020 due to a lower
principal balance and a lower effective interest rate.
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Loss on debt extinguishment, net during the three months ended September 30,
2021 was related to prepayment of our Senior Secured Term Loan that occurred
during the period offset by the $10.0 million gain on the forgiveness of the
Paycheck Protection Program Loan.

Income Taxes
                                                         Three Months Ended September 30,
(dollars in thousands)                                       % of                                    % of
                                        2021                revenue              2020               revenue             $ Change            % Change
Income tax provision               $       411                   -            $    202                   -            $     209                 103



The income tax provision for the three months ended September 30, 2021 and 2020
is primarily influenced by foreign and state income taxes. Due to our history of
net losses in the United States, the protracted period for utilizing tax
attributes in certain foreign jurisdictions, and the difficulty in predicting
future results, we believe that we cannot rely on projections of future taxable
income to realize most of our deferred tax assets. Accordingly, we have
established a full valuation allowance against our U.S. and certain foreign net
deferred tax assets. Significant management judgement is required in assessing
our ability to realize any future benefit from our net deferred tax assets. We
intend to maintain this valuation allowance until sufficient positive evidence
exists to support its reversal. Our income tax expense recorded in the future
will be reduced to the extent that sufficient positive evidence materializes to
support a reversal of, or decrease in, our valuation allowance.

Comparison of the Six Months Ended September 30, 2021 and 2020
Revenue
                                                         Six Months Ended September 30,
(dollars in thousands)                                       % of                                      % of
                                     2021                  revenue                2020               revenue             $ Change             % Change
Product revenue
  Primary storage systems              27,994                     15  %       $  30,824                     19  %       $ (2,830)                     (9) %
  Secondary storage systems            54,463                     30             37,395                     24            17,068                      46
  Devices and media                    24,329                     13             22,318                     14             2,011                       9
   Total product revenue       $      106,786                     58  %       $  90,537                     57  %       $ 16,249                      18
Service revenue                        67,189                     37             61,880                     39             5,309                       9
Royalty revenue                         8,303                      5              6,709                      4             1,594                      24
Total revenue                  $      182,278                    100  %       $ 159,126                    100  %       $ 23,152                      15




Product revenue
In the six months ended September 30, 2021, product revenue increased $16.2
million, or 18%, as compared to the same period in 2020. Secondary storage
systems represented $17.1 million of the increase, driven primarily by a growing
customer base in the hyperscale segment. Devices and media represented $2.0
million of the increase, driven by higher volume of LTO media sold through our
high-volume channel partners. Primary storage systems decreased $2.8 million
driven partially by driven by our transition to a recurring software
subscription licensing model which results in a shift from product to services
revenue.
Service revenue
We offer a broad range of services including product maintenance,
implementation, and training as well as software subscriptions. Service revenue
is primarily comprised of customer field support contracts which provide
standard support services for our hardware. Standard service contracts may be
extended or include enhanced service, such as faster service response times.
Service revenue increased $5.3 million, or 9% in the six months ended
September 30, 2021 compared to the same period in 2020, driven partially by the
increase in recurring software subscription revenue. Growth is also driven by a
higher level of installation and professional services attached to our product
sales.
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Royalty revenue
We receive royalties from third parties that license our LTO media patents
through our membership in the LTO consortium. Royalty revenue increased $1.6
million, or 24%, in the six months ended September 30, 2021 compared to the same
period in 2020 due to higher overall market volume.

Gross Profit and Margin
                                                             Six Months Ended September 30,
(dollars in thousands)                                           Gross                                     Gross
                                         2021                  margin %               2020               margin %              $ Change          Basis point change
Product gross profit               $       26,922                    25.2  %       $ 25,157                    27.8  %       $   1,765                   (260)
Service gross profit                       40,441                    60.2            37,720                    61.0              2,721                    (80)
Royalty gross profit                        8,303                   100.0             6,709                   100.0              1,594                      -
Gross profit                       $       75,666                    41.5  %       $ 69,586                    43.7  %       $   6,080                   (220)



Product Gross Margin
Product gross margin decreased 260 basis points for the six months ended
September 30, 2021, as compared with the same period in 2020. This decrease was
primarily the result of a less favorable product mix to our enterprise
customers, as well as cost pressures as a result of constraints in the global
supply chain.
Service Gross Margin
Service gross margin decreased 80 basis points for the six months ended
September 30, 2021, as compared with the same period in 2020. This decrease was
partially due to cost pressures as a result of constraints in the global supply
chain.
Royalty Gross Margin
Royalties do not have significant related cost of sales.

Operating expenses
                                                              Six Months Ended September 30,
(dollars in thousands)                                             % of                                     % of
                                           2021                  revenue               2020               revenue             $ Change             % Change
Research and development             $       23,680                   12.9  %       $ 20,395                   12.8  %       $  3,285                     16  %
Sales and marketing                          29,414                   16.1            24,723                   15.5             4,691                     19
General and administrative                   23,293                   12.8            21,825                   13.7             1,468                      7
Restructuring charges                           274                    0.2             2,637                    1.7            (2,363)                   (90)
  Total operating expenses           $       76,661                   42.1  %       $ 69,580                   43.7  %       $  7,081                     10



In the six months ended September 30, 2021, research and development expense
increased $3.3 million, or 16%, as compared with the same period in 2020. This
increase was primarily driven by an increase in personnel costs due to increased
headcount focused on new product development. This increase in headcount
includes those employees added through acquisitions over the year.
In the six months ended September 30, 2021, sales and marketing expenses
increased $4.7 million, or 19%, as compared with the same period in 2020. This
increase was driven by increased headcount as we invest in strategic areas to
accelerate growth. This increase in headcount includes those employees added
through acquisitions over the year. Both marketing expense and travel expense
have also increased over the prior year as COVID-19 restrictions ease.
In the six months ended September 30, 2021, general and administrative expenses
increased $1.5 million, or 7% as compared with the same period in 2020. This
increase was due primarily to increased legal and other expenses related to our
long-term debt amendments and business acquisition related activities.

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In the six months ended September 30, 2021, restructuring expenses decreased
$2.4 million, or 90% as compared with the same period in 2020. The decrease was
the result of a reduction in workforce to improve operational efficiency and
rationalize our cost structure in the prior year.

Other Income (Expense)
                                                              Six Months Ended September 30,
(dollars in thousands)                                           % of                                      % of
                                           2021                 revenue               2020               revenue              $ Change              % Change
Other income (expense)               $         (71)                  0            $    (697)                     -  %       $      626                      90  %
Interest expense                            (6,956)                 (4)             (14,015)                    (9)              7,059                     (50)
Loss on debt extinguishment                 (4,960)                 (3)                   -                      -              (4,960)                       n/a


The change in other income (expenses), net during the half-year ended
September 30, 2021 and 2020 was mainly related to exchange rate fluctuations.

In the past six months September 30, 2021, interest expense has decreased $ 7.1 million, or 50%, compared to the same period in 2020 mainly due to a lower principal balance and a lower effective interest rate on term debt.


Loss on debt extinguishment, net during the six months ended September 30, 2021
was related to prepayment of our Senior Secured Term Loan that occurred during
the period offset by the $10.0 million gain on the forgiveness of the Paycheck
Protection Program loan.

Income Taxes
                                                            Six Months Ended September 30,
(dollars in thousands)                                          % of                                     % of
                                         2021                 revenue               2020               revenue              $ Change             % Change
Income tax provision               $         424                      -  %       $    622                      -  %       $    (198)                    (32) %



The income tax provision for the six months ended September 30, 2021 and 2020 is
primarily influenced by foreign and state income taxes. Due to our history of
net losses in the United States, the protracted period for utilizing tax
attributes in certain foreign jurisdictions, and the difficulty in predicting
future results, we believe that we cannot rely on projections of future taxable
income to realize most of our deferred tax assets. Accordingly, we have
established a full valuation allowance against our U.S. and certain foreign net
deferred tax assets. Significant management judgement is required in assessing
our ability to realize any future benefit from our net deferred tax assets. We
intend to maintain this valuation allowance until sufficient positive evidence
exists to support its reversal. Our income tax expense recorded in the future
will be reduced to the extent that sufficient positive evidence materializes to
support a reversal of, or decrease in, our valuation allowance.



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LIQUIDITY AND CAPITAL RESOURCES
We had cash and cash equivalents of $22.8 million as of September 30, 2021,
which consisted primarily of bank deposits and money market accounts.
We consider liquidity in terms of the sufficiency of internal and external cash
resources to fund our operating, investing and financing activities. Our
principal sources of liquidity include cash from operating activities, cash and
cash equivalents on our balance sheet and amounts available under our PNC Credit
Facility. We require significant cash resources to meet obligations to pay
principal and interest on our outstanding debt, provide for our research and
development activities, fund our working capital needs, and make capital
expenditures. Our future liquidity requirements will depend on multiple factors,
including our research and development plans and capital asset needs. We are
subject to the risks arising from COVID-19 which have caused substantial
financial market volatility and have adversely affected both the U.S. and the
global economy. We believe that these social and economic impacts have had a
negative effect on sales due to disruptions in our supply chain and a decline in
our customers' ability or willingness to purchase our products and services. The
extent of the impact will depend, in part, on how long the negative trends in
customer demand and supply chain levels will continue. We expect the impact of
COVID-19 to continue to have a significant impact on our liquidity and capital
resources.
We are subject to various debt covenants under our Credit Agreements. Our
failure to comply with our debt covenants could materially and adversely affect
our financial condition and ability to service our obligations. For additional
information about our debt, see the sections entitled "Risk Factors-Risks
Related to Our Business Operations" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations-Liquidity and Capital Resources"
in our Annual Report on Form 10-K for the fiscal year ended March 31, 2021.

Term Loan
On August 5, 2021 (the "Closing Date"), we entered into a senior secured term
loan to borrow an aggregate of $100.0 million, (the "Term Loan"). A portion of
the proceeds were used to repay in full all outstanding borrowings under the
Senior Secured Term Loan. Borrowings under the Term Loan mature on August 5,
2026. Principal is payable at a rate per annum equal to (a) 2.5% of the original
principal balance thereof during the first year following the Closing Date and
(b) 5% of the original principal balance thereof thereafter. Principal and
interest payments are payable on a quarterly basis.

Revolving Credit Facility
On September 30, 2021, we amended the PNC Credit Facility. The amendment, among
other things (a) extended the maturity date to August 5, 2026; (b) reduced the
principal amount of the revolving commitments to a maximum amount equal to the
lesser of: (i) $30.0 million or (ii) the amount of the borrowing base, as
defined in the PNC Credit Facility agreement;(c) replaced existing debt
covenants with net leverage ratio, minimum liquidity and fixed charges coverage
ratio covenants; and, (d) removed the requirement to maintain a $5.0 million
restricted cash reserve with PNC.

Paycheck Protection Program Loan
In July 2021, we received notice from PNC that the Paycheck Protection Program
Loan and related accrued interest was approved for forgiveness in full by the
U.S. Small Business Administration. We recorded the amount forgiven as gain on
debt extinguishment of $10.0 million in the three and six months ended September
30, 2021.

Cash Flows

The following table summarizes our consolidated cash flows for the periods indicated.

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                                                                 Six Months Ended September 30,
(in thousands)                                                   2021                      2020
Cash provided by (used in):
  Operating activities                                    $        (15,262)         $       (19,297)
  Investing activities                                              (7,396)                  (1,434)
  Financing activities                                              12,716                   26,866
  Effect of exchange rate changes                                       12                      (96)
Net increase (decrease) in cash and cash equivalents and
restricted cash                                           $         (9,930)         $         6,039


Cash used in operating activities


Net cash used in operating activities was $15.3 million for the six months ended
September 30, 2021. This use of cash was primarily attributable to changes in
working capital of $14.6 million driven by increases in manufacturing and
service part inventories of $7.0 million, a decrease in deferred revenue of $9.0
million and a net changes in other assets and liabilities of $5.8 million. These
were partially offset by cash generated by a $10.0 million decrease in accounts
receivables. The decrease in deferred revenue reflects the seasonal nature of
service contract renewals.

Net cash used in operating activities was $19.3 million for the six months ended
September 30, 2020. This use of cash was primarily attributable to changes in
working capital of $19.1 million driven by the increases in manufacturing and
service inventory of $13.2 million and a decrease in deferred revenue of $12.6
million. These were partially offset by a decrease in accounts receivable of
$7.6 million. The decrease in deferred revenue reflects the seasonal nature of
service contract renewals which peak in the fourth fiscal quarter.

Cash used in investing activities


Net cash used in investing activities for the six months ended September 30,
2021 was attributable to cash paid for our acquisition of Pivot3 of $5.0 million
and capital expenditures of $2.4 million.

The net cash used in investing activities was $ 1.4 million in the past six months
September 30, 2020 related to capital expenditure.

Cash provided by fundraising activities


Net cash provided by financing activities for the six months ended September 30,
2021 was related primarily to borrowings under our credit facility, and proceeds
from the new Term Loan offset by the repayment in full of the Senior Secured
Term Loan.

Net cash provided by financing activities was $26.9 million in the six months
ended September 30, 2020 which included Senior Secured Term Loan borrowings of
$19.4 million, $10.0 million in borrowings under the Paycheck Protection Program
and the net pay-down of our Amended PNC Credit Facility.

Commitments and contingencies


Our contingent liabilities consist primarily of certain financial guarantees,
both express and implied, related to product liability and potential
infringement of intellectual property. We have little history of costs
associated with such indemnification requirements and contingent liabilities
associated with product liability may be mitigated by our insurance coverage. In
the normal course of business to facilitate transactions of our services and
products, we indemnify certain parties with respect to certain matters, such as
intellectual property infringement or other claims. We also have indemnification
agreements with our current and former officers and directors. It is not
possible to determine the maximum potential amount under these indemnification
agreements due to the limited history of our indemnification claims, and the
unique facts and circumstances involved in each particular agreement.
Historically, payments made by us under these agreements have not had a material
impact on our operating results, financial position or cash flows.

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We are also subject to ordinary course litigation and potential costs related to
our financial statement restatement activities and related legal costs.

Off-balance sheet provisions

With the exception of the indemnification commitments described under “- Commitments and contingencies” above, we currently have no other off-balance sheet arrangements and do not hold any interests in variable interest entities.

Contractual obligations


We have contractual obligations and commercial commitments, some of which, such
as purchase obligations, are not recognized as liabilities in our financial
statements. There have not been any other material changes to the contractual
obligations disclosed in our Annual Report on Form 10-K for the fiscal year
ended March 31, 2021.

Critical Accounting Estimates and Policies
The preparation of our consolidated financial statements in accordance with
generally accepted accounting principles requires management to make judgments,
estimates and assumptions that affect the amounts reported in the consolidated
financial statements and accompanying notes included elsewhere in this Quarterly
Report on Form 10-Q. On an ongoing basis, we evaluate estimates, which are based
on historical experience and on various other assumptions that we believe to be
reasonable under the circumstances. We consider certain accounting policies to
be critical to understanding our financial statements because the application of
these policies requires significant judgment on the part of management, which
could have a material impact on our financial statements if actual performance
should differ from historical experience or if our assumptions were to change.
Our accounting policies that include estimates that require management's
subjective or complex judgments about the effects of matters that are inherently
uncertain are summarized in our most recently filed Annual Report on
Form 10-K for the fiscal year ended March 31, 2021 under the section entitled
"Management's Discussion and Analysis of Financial Condition and Results of
Operations-Liquidity and Capital Resources-Critical Accounting Policies." For
additional information on our significant accounting policies, see Note 1 to our
unaudited condensed consolidated financial statements included elsewhere in this
Quarterly Report on Form 10-Q.

Recently published and adopted accounting position papers

See Note 1 of the Notes to the Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q and in our latest Annual Report on Form 10-K.

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PenFed Foundation Raises Over $ 1.7 Million For Military Community, Announces Rescue And Resettlement Program In Afghanistan At 2021 Gala https://purpleribbonproject.com/penfed-foundation-raises-over-1-7-million-for-military-community-announces-rescue-and-resettlement-program-in-afghanistan-at-2021-gala/ Mon, 01 Nov 2021 10:23:00 +0000 https://purpleribbonproject.com/penfed-foundation-raises-over-1-7-million-for-military-community-announces-rescue-and-resettlement-program-in-afghanistan-at-2021-gala/ “The PenFed Foundation is proud to celebrate 20 years of service to the courageous men and women who serve our nation and the generosity and patriotism of our donors to support our military community,” said the President and CEO of PenFed Credit Union and CEO of the PenFed Foundation. Jacques Schenck. “Thanks to our generous […]]]>

“The PenFed Foundation is proud to celebrate 20 years of service to the courageous men and women who serve our nation and the generosity and patriotism of our donors to support our military community,” said the President and CEO of PenFed Credit Union and CEO of the PenFed Foundation. Jacques Schenck. “Thanks to our generous donors, the PenFed Foundation gives military service members, veterans and their communities the skills and resources to achieve financial stability and opportunity. We are proud to announce our new support program to the rescue and resettlement of Afghan women soldiers who, despite enormous cultural challenges, have played a critical role in supporting United States and our military. “

The highlight of the evening was the presentation of an Afghan heroine whose work in Afghanistan focused on saving lives. The PenFed Foundation worked directly with the State Department to help her and her family obtain humanitarian visas, ensure safe passage for the family out of Afghanistan, and board one of the last remaining commercial flights departing from Kabul. She and her family have now successfully relocated to the United States, and the Foundation has helped find housing, furniture, essentials, and helped enroll the children in school.

The PenFed Foundation is currently working with an engaged fraternity of female soldiers and U.S. veterans of the U.S. Army Cultural Support Team (CST), who served alongside Special Operations Forces in Afghanistan – and worked tirelessly to evacuate the Afghan women who fought alongside them. Thanks to the tireless efforts of the CST, they were able to evacuate 30 Afghan women soldiers and their families to United States, with several others on the way. The PenFed Foundation Rescue and Resettlement in Afghanistan program provides these intrepid Afghan women and their families with the essential support they need to resettle in our communities.

“The PenFed Foundation is proud to support the Afghan women who have supported us when we needed it,” said the President of the PenFed Foundation and the retired US Army General. John nicholson. “The PenFed Foundation Rescue and Resettlement in Afghanistan program will also support a small but powerful network of American ESCs to continue their service and mission, helping their Afghan sisters rebuild their lives in a country full of hope and of opportunities.

Catherine herridge, an award-winning CBS senior investigative correspondent and wife and mother of military personnel, hosted the Washington area’s premier fundraising event for our nation’s defenders. This is the sixth consecutive year that the event has raised more than $ 1 million.

This year’s winners:

  • Veteran Entrepreneur Champion AwardRoland smith was honored for his drive, tenacity and passion, qualities unique to all who have served our country in uniform. Smith is an Army veteran known as the King of CEO Turnaround, and he’s breathed new life into businesses, including Wendy’s and Office Depot, while maintaining a commitment to character and hard work.
  • Military hero award – The Department of Veterans Affairs (VA) was honored for meeting the needs of our country’s military families and providing them with the help, hope and honor they deserve. Former Secretary of the Department of Veterans Affairs, Secretary Jim nicholson accepted the award on behalf of the VA.
  • Corporate Hero Award John and Michelle Flynn were honored for their continued support and extraordinary dedication to the military community. John is the founder of the successful automated lending company, Open Lending, and Michelle is an accomplished businesswoman and passionate horsewoman.

The PenFed Foundation, a national 501 (c) 3 organization founded by the PenFed Credit Union, was established in 2001 and since then has provided more than $ 40 million in financial support to veterans, serving members, families and caregivers. Those interested in supporting the PenFed Foundation’s mission to help the military community and their support network are encouraged to visit penfedfoundation.org.

About the PenFed Foundation
Founded in 2001, the PenFed Foundation is a national, non-profit organization committed to empowering military service members, veterans, and their communities with the skills and resources to achieve financial stability and opportunity. It equips military personnel, veterans, their families and support networks with the skills and resources they need to improve their lives through financial education, home ownership, entrepreneurship, and other programs. veterans and short-term aid. Affiliated with PenFed Credit Union, the Foundation has the resources to effectively reach military communities across the country, build strong partnerships, and engage a dedicated corps of volunteers in its mission. The credit union funds Foundation staff and most operational costs, demonstrating its strong commitment to the programs offered by the Foundation. To learn more, visit www.penfedfoundation.org.

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