Expense

CED Calls for Full Funding for COVID-19 Small Business Loans

Retrieved on: 
Friday, April 3, 2020
Business, Economy, Income statement, Entrepreneurship, Employment compensation, Expense, Payroll, Paycheck, Small business

"Aid to small businesses is needed urgently and deeply and must be delivered swiftly.

Key Points: 
  • "Aid to small businesses is needed urgently and deeply and must be delivered swiftly.
  • The CARES Act provides small businesses with a measure of critical relief by establishing a new Paycheck Protection Program loan, which is empowered to lend roughly two months of payroll costs to every eligible business.
  • This risks a spectacle of financially well-connected and well-advised businesses receiving loans, at the expense of smaller, more-vulnerable small businesses.
  • With that assurance, more of our small businesses will be able to retain their trained workers while they await relief.

Justworks Launches New Tool to Help Businesses Offer COVID-19-Related Paid Leave

Retrieved on: 
Friday, April 3, 2020
Income statement, Employment, Employee relations, Employment compensation, Expense, Payroll, Leave, Tax credit, Family law, Maternity leave in the United States, Payroll tax

The FFCRA requires businesses with fewer than 500 employees to provide their employees with paid leave for qualifying reasons related to COVID-19.

Key Points: 
  • The FFCRA requires businesses with fewer than 500 employees to provide their employees with paid leave for qualifying reasons related to COVID-19.
  • With Justworks, businesses can seamlessly schedule COVID-19-related paid leave, keep their employees on payroll, and claim the applicable tax credits offered by the government to pay for their leave in full.
  • The new tool ensures that employees on leave are being paid accurately and employers are paid back for eligible leave wages through FFCRA tax credits.
  • The new FFCRA paid leave tool in Justworks went live for all customers on April 1, 2020.

NanoVibronix Announces License Agreement for WoundShield Product

Retrieved on: 
Thursday, April 2, 2020
Expense, Intellectual property law, Patent law, Royalty payment

ELMSFORD, N.Y., April 2, 2020 /PRNewswire/ -- NanoVibronix, Inc .,(NASDAQ: NAOV), a medical device company that produces the UroShield, PainShield and WoundShield, and WoundShield Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that it signed a license agreement with Sanuwave Health, Inc. for the manufacture and delivery of its WoundShield technology.

Key Points: 
  • ELMSFORD, N.Y., April 2, 2020 /PRNewswire/ -- NanoVibronix, Inc .,(NASDAQ: NAOV), a medical device company that produces the UroShield, PainShield and WoundShield, and WoundShield Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices, today announced that it signed a license agreement with Sanuwave Health, Inc. for the manufacture and delivery of its WoundShield technology.
  • Under the terms of the agreement, NanoVibronix will receive 100,000 warrants of Sanuwave stock, a $250,000 milestone payment based on FDA approval, and 10% royalty on Sanuwave'sgross revenues from sales or rentals of WoundShield.
  • In return, Sanuwave has received the worldwide, exclusive rights to the company's WoundShield product and technology.
  • "This agreement is consistent with our strategy of partnering with category leaders with significant sales resources in our key technology markets with UroShield, PainShield and now WoundShield."

Kane Russell Coleman Logan CARES Task Force Will Provide Legal Guidance to Employers and Businesses to Navigate New Federal Aid for Businesses

Retrieved on: 
Wednesday, April 1, 2020
Payroll, Employment compensation, Expense, Russell Coleman

DALLAS, Texas, April 1, 2020 /PRNewswire-PRWeb/ -- Immediately after President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, Kane Russell Coleman Logan has announced its formation of the KRCL CARES Task Force.

Key Points: 
  • DALLAS, Texas, April 1, 2020 /PRNewswire-PRWeb/ -- Immediately after President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, Kane Russell Coleman Logan has announced its formation of the KRCL CARES Task Force.
  • The task force will work with businesses and employers on the best processes for obtaining federal government relief aid and managing employees and payroll.
  • "I am proud of the employment practice group for taking fast action," said Gordon Russell , a founding Director of the firm.
  • Kane Russell Coleman Logan is a full-service law firm with offices in Dallas and Houston.

FADEL Launches in Paris to Support Continued Growth in the Publishing & Gaming Sectors

Retrieved on: 
Wednesday, April 1, 2020
Expense, Intellectual property law, Patent law, Royalty payment

NEW YORK, April 1, 2020 /PRNewswire-PRWeb/ -- FADEL, the leading provider of rights & royalty software, today announced that it has set up a wholly-owned subsidiary in Paris, France to support its French customer base and continued expansion into the rest of Western Europe.

Key Points: 
  • NEW YORK, April 1, 2020 /PRNewswire-PRWeb/ -- FADEL, the leading provider of rights & royalty software, today announced that it has set up a wholly-owned subsidiary in Paris, France to support its French customer base and continued expansion into the rest of Western Europe.
  • FADEL's cloud-based solutions IPM Suite Licensing Edition and IPM Suite Publishing Edition help gaming and licensing companies and publishers to:
    Automate accurate and timely royalty payment calculations to content creators such as authors, trademark and IP owners, and game developers
    Seamlessly integrate with enterprise systems for financials, product information management, contract management, and business analytics
    The French subsidiary will be focused on customer success, by providing in-country senior-level rights & royalty management expertise and helping best support French clients with the implementation and delivery of their rights management and royalty accounting solutions.
  • "With this new business expansion, we are fully committed to delivering our solutions to the French market and the broader European market," says Tarek Fadel, Founder and CEO of FADEL, "As a major business hub, we feel Paris is a great base for this continued growth."
  • Supporting our customers during the global pandemic caused by coronavirus (COVID-19), FADEL is committed to delivering rights & royalty management education, as well as providing advisory and implementation services through remote sessions.

ClassWallet Provides Free Access to its Platform for School Districts Nationwide to Help Teachers Get Needed Supplies and Materials While Working Remotely from Home

Retrieved on: 
Tuesday, March 31, 2020
Articles, Economy, Technology, Expense, Insurance, Reimbursement, Tax, Point of sale, Educational technology, Bookkeeping

There's no cash or credit card outlay required by teachers, and bookkeeping and reporting is handled automatically by the platform for oversight by the districts.

Key Points: 
  • There's no cash or credit card outlay required by teachers, and bookkeeping and reporting is handled automatically by the platform for oversight by the districts.
  • ClassWallet also offers an automated reimbursement tool that enables teachers to purchase from off platform vendors and submit receipts for review.
  • When approved, ClassWallet automates an ACH direct deposit and getting teachers the reimbursed funds in days rather than weeks.
  • The company's two products for teachers and parents focus on ease and flexibility for the end-user, and unparalleled control and fraud mitigation for administrators.

Devon Energy Provides Revised 2020 Capital Expenditure Outlook and Hedge Update

Retrieved on: 
Monday, March 30, 2020
Economy, Capital budgeting, Capital expenditure, Financial capital, Fixed asset, DVN, Devon, Expense, Business

OKLAHOMA CITY, March 30, 2020 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today provided updates to its 2020 capital expenditure outlook and hedge position.

Key Points: 
  • OKLAHOMA CITY, March 30, 2020 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today provided updates to its 2020 capital expenditure outlook and hedge position.
  • Based on current market conditions, Devon has elected to further reduce its capital expenditures by an additional $300 million for the full-year 2020.
  • The revised capital outlook of approximately $1 billion represents a reduction of nearly 45 percent compared to the companys original 2020 capital budget.
  • With the revised capital plan, Devon now expects to fund its 2020 capital program within operating cash flow at current strip pricing.

Imperial Reports 2019 Financial Results

Retrieved on: 
Wednesday, March 25, 2020
Economy, Capital budgeting, Capital expenditure, Financial capital, Fixed asset, Expense, Mount Polley, Business

Through Summer 2019, the mine completed installation of 5 kilometres of rainbow trout habitat in Hazeltine Creek.

Key Points: 
  • Through Summer 2019, the mine completed installation of 5 kilometres of rainbow trout habitat in Hazeltine Creek.
  • During late Fall 2019, a Mobile Metal Ion soil sampling program and a 3D Induced Polarization geophysical survey were conducted to explore new regions at Mount Polley.
  • For the year ended December 31, 2019, the Mount Polley mine incurred idle mine costs comprised of $7.8 million in operating costs and $3.1 million in depreciation expense.
  • Exploration, development, and capital expenditures were $5.4 million in 2019 compared to $13.3 million in 2018.

AICPA-Led Coalition Expands Support for Small Business Funding

Retrieved on: 
Tuesday, March 24, 2020
Public policy, Government, White House, Federal Government, Human resources, Finance, Public policy, Small business, Accounting, Professional services, Employment, Employment compensation, Business, Economy, Payroll, Labour law, Expense, Small business, Layoff, the American Institute of CPAs, the Association of International Certified Professional Accountants

An efficient and effective process would be to leverage established small business payroll processing that is already in place and can be marshalled immediately to protect jobs and preserve resiliency within the small business sector.

Key Points: 
  • An efficient and effective process would be to leverage established small business payroll processing that is already in place and can be marshalled immediately to protect jobs and preserve resiliency within the small business sector.
  • This direct funding of payroll accounts will not solve all the funding problems currently facing small businesses, but its a step in the right direction and has numerous benefits.
  • In addition, small businesses that use this federal funding facility would be required to maintain their workforce, which would dramatically reduce layoffs.
  • The program would not cover all small business employees, such as gig-economy workers, who would need to be supported through other measures.

TEN Ltd. Reports Profits for Fourth Quarter and Year End 2019 and Declares Dividend of $0.05 per Common Share

Retrieved on: 
Tuesday, March 24, 2020
Asset, Expense, Impairment, Cash flow

In the fourth quarter of 2019, TEN Ltd. generated profits of $40.7 million, before non-cash impairment charges, compared to $2.8 million before non-cash impairment charges for the equivalent quarter in 2018.

Key Points: 
  • In the fourth quarter of 2019, TEN Ltd. generated profits of $40.7 million, before non-cash impairment charges, compared to $2.8 million before non-cash impairment charges for the equivalent quarter in 2018.
  • Net income for the fourth quarter of 2019 was at $13.1 million compared to a net loss of $63.1 million in the same quarter of 2018.
  • Operating income in the fourth quarter, before non-cash impairment charges, amounted to $55.0 million, more than double the operating income generated in the 2018 fourth quarter, before non-cash impairment charges.
  • Expenses incurred by the Company in the fourth quarter were relatively stable in all categories compared to the 2018 fourth quarter.