United States fiscal cliff

PDS Biotech Receives $1.4 Million After Selling Its Net Operating Loss Tax Benefits Through The New Jersey Economic Development Program

Retrieved on: 
Monday, April 24, 2023

FLORHAM PARK, N.J., April 24, 2023 (GLOBE NEWSWIRE) -- PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of targeted immunotherapies for cancer and infectious disease announced the Company received $1.4 million from the net sale of tax benefits to an unrelated, profitable New Jersey corporation pursuant to the Company’s participation in the New Jersey Technology Business Tax Certificate Transfer Net Operating Loss (NOL) program for State Fiscal Year 2021.

Key Points: 
  • FLORHAM PARK, N.J., April 24, 2023 (GLOBE NEWSWIRE) -- PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of targeted immunotherapies for cancer and infectious disease announced the Company received $1.4 million from the net sale of tax benefits to an unrelated, profitable New Jersey corporation pursuant to the Company’s participation in the New Jersey Technology Business Tax Certificate Transfer Net Operating Loss (NOL) program for State Fiscal Year 2021.
  • “We are pleased to receive funds from the New Jersey NOL program,” said Matthew Hill, Chief Financial Officer of PDS Biotech.
  • “The funding will be beneficial to us as we transition our lead asset, PDS0101, into a registrational trial for the treatment of HPV16-positive metastatic or recurrent head and neck cancer.”
    The New Jersey Technology Business Tax Certificate Transfer program enables qualified, unprofitable NJ-based technology or biotechnology companies with fewer than 225 US employees (including parent company and all subsidiaries) to sell a percentage of their NOL and research and development tax credits to unrelated profitable corporations.
  • This allows qualifying technology and biotechnology companies with NOLs to turn tax losses and credits into cash proceeds to fund their growth and operations, including research and development or other allowable expenditures.

Aspen Economic Strategy Group Releases Economic Policy in a More Uncertain World to Mark its 5th Anniversary

Retrieved on: 
Wednesday, January 11, 2023

Washington, DC, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The Aspen Economic Strategy Group (AESG) today released its annual policy volume, Economic Policy in a More Uncertain World , to mark the group’s 5th anniversary.

Key Points: 
  • Washington, DC, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The Aspen Economic Strategy Group (AESG) today released its annual policy volume, Economic Policy in a More Uncertain World , to mark the group’s 5th anniversary.
  • Ufuk Akcigit and Sina Ates outline another policy response to the demographic changes in their chapter, New Insights for Innovation Policy.
  • Co-chairs Paulson and Geithner have assembled a bipartisan group of distinguished leaders and thinkers to foster the exchange of economic policy ideas.
  • Headquartered in Washington, DC, the Institute has a campus in Aspen, Colorado, and an international network of partners.

PDS Biotech Provides Business Update and Reports First Quarter 2022 Financial Results

Retrieved on: 
Wednesday, May 11, 2022

2022 is shaping up to be an incredibly productive year for PDS Biotech, commented Dr. Frank Bedu-Addo, President and Chief Executive Officer of the Company.

Key Points: 
  • 2022 is shaping up to be an incredibly productive year for PDS Biotech, commented Dr. Frank Bedu-Addo, President and Chief Executive Officer of the Company.
  • Lastly, due to our partnering model and our financial discipline, we finished the quarter with a strong cash balance which we project to fund our current operations into 2024.
  • PDS Biotechs cash balance as of March 31, 2022 was approximately $58.9 million.
  • KEYTRUDA is a registered trademark of Merck Sharp and Dohme Corp. a subsidiary of Meck & Co., Inc. Kenilworth, NJ USA.

PDS Biotech Receives $1.2 Million After Selling Its Net Operating Loss Tax Benefits Through The New Jersey Economic Development Program

Retrieved on: 
Tuesday, April 19, 2022

We are pleased to receive funds from the New Jersey NOL program, said Matthew Hill, Chief Financial Officer of PDS Biotech.

Key Points: 
  • We are pleased to receive funds from the New Jersey NOL program, said Matthew Hill, Chief Financial Officer of PDS Biotech.
  • NOLs may be sold for at least 80 percent of their value, up to a maximum lifetime benefit of $20 million per business.
  • PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of molecularly targeted cancer and infectious disease immunotherapies based on the Companys proprietary Versamune and Infectimune T-cell activating technology platforms.
  • Versamune is a registered trademark and Infectimune is a trademark of PDS Biotechnology.

World Acceptance Corporation Reports Fiscal 2022 First Quarter Results

Retrieved on: 
Wednesday, July 21, 2021

As a percentage of revenues, G&A expenses decreased from 57.8% during the first quarter of fiscal 2021 to 56.6% during the first quarter of fiscal 2022.

Key Points: 
  • As a percentage of revenues, G&A expenses decreased from 57.8% during the first quarter of fiscal 2021 to 56.6% during the first quarter of fiscal 2022.
  • Personnel expense increased $1.6 million, or 3.6%, during the first quarter of fiscal 2022 as compared to the first quarter of fiscal 2021.
  • Advertising expense increased $1.1 million in the first quarter of fiscal 2022 compared to the first quarter of fiscal 2021.
  • Other expense decreased $1.3 million in the first quarter of fiscal 2022 compared to the first quarter of fiscal 2021.

Concord Coalition: Budget Woes Don't End With Covid

Retrieved on: 
Thursday, July 1, 2021

WASHINGTON, July 1, 2021 /PRNewswire/ --Today, the Congressional Budget Office released a topline summary of its much-anticipated update to the 2021 budget baseline.

Key Points: 
  • WASHINGTON, July 1, 2021 /PRNewswire/ --Today, the Congressional Budget Office released a topline summary of its much-anticipated update to the 2021 budget baseline.
  • The previous installment from CBO was published in February, prior to enactment of the $1.8 trillion American Rescue Plan Act.
  • Concord Coalition Executive Director Robert L. Bixby said the following:
    "Today's updated CBO baseline reflects an important pivotal point for the budget between emergency responses to the COVID-19 pandemic and the post-pandemic economy.
  • An agenda premised on ever-low interest rates and ever-rising debt is not a solid foundation for a sustainable budget or a growing economy.

Urban One, Inc. Reports First Quarter Results

Retrieved on: 
Wednesday, May 12, 2021

b'Net revenue decreased to approximately $91.4 million for the quarter ended March 31, 2021, from approximately $94.9 million for the same period in 2020.

Key Points: 
  • b'Net revenue decreased to approximately $91.4 million for the quarter ended March 31, 2021, from approximately $94.9 million for the same period in 2020.
  • Net revenue excluding political, from our radio broadcasting segment decreased 17.7% compared to the same period in 2020.
  • Net revenue from our Reach Media segment increased 16.9% for the quarter ended March 31, 2021, compared to the same period in 2020.
  • The Company made cash interest payments of approximately $13.9 million on its outstanding debt for the quarter ended March 31, 2021, compared to cash interest payments of approximately $13.9 million on its outstanding debt for the quarter ended March 31, 2020.

Evolus Reports Fourth Quarter and Full Year 2020 Results and Provides Business Update

Retrieved on: 
Wednesday, March 24, 2021

Continued strong underlying market demand for Jeuveau in the fourth quarter of 2020 evidenced by:

Key Points: 
  • Continued strong underlying market demand for Jeuveau in the fourth quarter of 2020 evidenced by:
    Adding 600 new purchasing accounts resulting in over 5,600 accounts2 at December 31, 2020.
  • Greater than 2,800 purchasing accounts opting into the Evolus Rewards program with over 110,0003 patients enrolled since launch in May 2020.
  • Completed several transactions in the first quarter of 2021 to strengthen the companys balance sheet:
    Eliminated $127.4 million of Evolus debt and potential future milestone payments.
  • Fourth quarter net revenue was partially impacted by the company selling under a bond required by the ITC beginning mid-December 2020 resulting in recording minimal net revenue in the last two weeks of the fourth quarter.

Majority of U.S. Cities Ill-Prepared For COVID-19 Pandemic

Retrieved on: 
Tuesday, January 26, 2021

The fiscal year 2019 audited Comprehensive Annual Financial Reports show cities financial data prior to the coronavirus pandemic.

Key Points: 
  • The fiscal year 2019 audited Comprehensive Annual Financial Reports show cities financial data prior to the coronavirus pandemic.
  • The remaining 62 cities carried varying levels of debt, many of them in the billions of dollars range prior to the coronavirus pandemic.
  • These 62 cities went into the coronavirus pandemic in poor fiscal health, and they will probably come out of the crisis worse.
  • Even the fiscally healthiest cities are projected to lose millions of dollars in revenue as a result of the coronavirus pandemic.

MEDIA ALERT — New issues for year-end and post-election tax planning

Retrieved on: 
Wednesday, November 18, 2020

In addition, other tax legislation at the end of 2019 affected regularly expiring tax provisions, retirement provisions, and disaster relief.

Key Points: 
  • In addition, other tax legislation at the end of 2019 affected regularly expiring tax provisions, retirement provisions, and disaster relief.
  • Besides all of this, President-elect Joe Biden has proposed significant tax increases for wealthier taxpayers and corporations.
  • All these changes must be considered this year along with the usual year-end tax planning topics.
  • PLEASE NOTE: The content of this alert has been prepared by Wolters Kluwer Tax & Accounting for general informational purposes only.