Schmitt

SEC Charges App Annie and its Founder with Securities Fraud

Tuesday, September 14, 2021 - 7:57pm

App Annie and Schmitt have agreed to pay more than $10 million to settle the matter, which is the SEC's first enforcement action charging an alternative data provider with securities fraud.

Key Points: 
  • App Annie and Schmitt have agreed to pay more than $10 million to settle the matter, which is the SEC's first enforcement action charging an alternative data provider with securities fraud.
  • According to the SEC's order, App Annie is one of the largest sellers of market data on mobile app performance, including estimates on the number of times a particular company's app is downloaded, how often it's used, and the amount of revenue the app generates for the company.
  • The order finds that App Annie and Schmitt understood that companies would only share their confidential app performance data with App Annie if it promised not to disclose their data to third parties, and as a result App Annie and Schmitt assured companies that their data would be aggregated and anonymized before being used by a statistical model to generate estimates of app performance.
  • According to the SEC's order, App Annie and Schmitt were aware that trading firm customers were making investment decisions based on App Annie's estimates, and App Annie also shared ideas for how the trading firms could use the estimates to trade ahead of upcoming earnings announcements.

Schmitt Slams The Door On Bassmaster Elite Series Event At Lake Champlain

Monday, July 12, 2021 - 12:48am

But the win seemed meant to be for the second-year Elite Series pro from Deale, Md.

Key Points: 
  • But the win seemed meant to be for the second-year Elite Series pro from Deale, Md.
  • "I pulled up to a buoy cable this afternoon right before time to come in and saw two fish on my (Garmin) LiveScope," Schmitt said.
  • "I threw that drop shot in there, felt the bite and didn't really think it was a bass.
  • Schmitt talked each day about a waning bite, but he still managed to catch 21-11, 21-5 and 19-4 the first three rounds.

Wall Street Rides FAR Names T. Rowe Price and NEO Exchange Executives to Board of Directors

Monday, June 28, 2021 - 1:00pm

With their passion for the cause and extensive industry relationships, both Wyatt and Schmitt will help to drive awareness, increase participation and expand the geographic reach of Wall Street Rides FAR.

Key Points: 
  • With their passion for the cause and extensive industry relationships, both Wyatt and Schmitt will help to drive awareness, increase participation and expand the geographic reach of Wall Street Rides FAR.
  • Schmitt is Co-Founder, Director, President & CEO of the Canada-based NEO Group, which includes the NEO Exchange and NEO Connect, a multi-asset distribution platform.
  • I am honored to have been invited to join the Wall Street Rides FAR Board of Directors, said Wyatt.
  • ASF is delighted to welcome Marc and Jos to the Wall Street Rides FAR board, said ASF Co-Founder and President Alison Singer.

Benevity Announces Executive Transitions

Tuesday, January 19, 2021 - 5:10pm

The following transitions are effective February 1, 2021, and position Benevity strongly to deepen and expand its pioneering leadership in corporate purpose software:

Key Points: 
  • The following transitions are effective February 1, 2021, and position Benevity strongly to deepen and expand its pioneering leadership in corporate purpose software:
    Founder Bryan de Lottinville takes on new role as Executive Chairperson.
  • Kelly Schmitt promoted to the role of CEO, accepting the reigns after another record-breaking year of growth to lead Benevity into its next phase of growth.
  • Candice joined Benevity as Executive VP, Finance and will continue to ensure the financial health of the fast growing company, while overseeing the Operations teams who have securely distributed over $6 billion in donations to 300,000 causes worldwide with industry-leading accuracy and reliability.
  • This is an exciting time for me, both personally and professionally, said Bryan de Lottinville, Executive Chairperson.

iGov Announces Retirement SVP of HR

Wednesday, December 30, 2020 - 5:19pm

Schmitt led the development of HR policies and practices as the company transitioned from product sales to a successful IT Services company supporting our federal customers' mission.

Key Points: 
  • Schmitt led the development of HR policies and practices as the company transitioned from product sales to a successful IT Services company supporting our federal customers' mission.
  • During her tenure at iGov, Schmitt achieved her Senior HR Certification and was committed to learning new skills to help employees and the company succeed, Tyrrell said.
  • The transfer of HR leadership has been completed and iGov recently welcomed Deborah Sutton as Vice President of HR, replacing Schmitt.
  • iGov is a C5ISR Systems Integrator and Value-Added Reseller specializing in delivering mission-centric solutions to its government customers.

Schmitt Industries Annual Meeting and Update Video Conference to be Held December 10, 2020

Monday, November 23, 2020 - 1:15pm

PORTLAND,Ore., Nov. 23, 2020 /PRNewswire/ --Schmitt Industries, Inc. (NASDAQ: SMIT) (the "Company" or "Schmitt") reminds its shareholders that Schmitt's 2020 annual meeting (the "Annual Meeting") will be held on December 10, 2020, at 8:30 a.m. Pacific Time, at Schmitt's offices at 2765 N.W.

Key Points: 
  • PORTLAND,Ore., Nov. 23, 2020 /PRNewswire/ --Schmitt Industries, Inc. (NASDAQ: SMIT) (the "Company" or "Schmitt") reminds its shareholders that Schmitt's 2020 annual meeting (the "Annual Meeting") will be held on December 10, 2020, at 8:30 a.m. Pacific Time, at Schmitt's offices at 2765 N.W.
  • Following the Annual Meeting, the Company will host a virtual video conference for all shareholders at 9:30 a.m. Pacific Time, during which Schmitt management will provide an update regarding Schmitt's business.
  • To attend the virtual video conference, attendees should virtually join the zoom meeting at: https://us02web.zoom.us/j/89298749486?pwd=bm5odjdLVXdVZS91UW1la3g5WEVtdz09
    The Company will post a transcript of the videoconference on Schmitt's website after the conclusion of the call.
  • Whether or not a shareholder plans to attend the Annual Meeting, Schmitt urges all shareholders to vote and submit their proxy in advance of the Annual Meeting by one of the methods described in the proxy materials for the Annual Meeting that were previously provided.

Schmitt Industries Receives Compliance Notice From Nasdaq

Monday, November 2, 2020 - 9:48pm

PORTLAND, Ore., Nov. 02, 2020 (GLOBE NEWSWIRE) -- On November 2, 2020, Schmitt Industries, Inc. (NASDAQ: SMIT) (the Company or Schmitt) received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, based on the October 30, 2020 filing of the Companys Form 10-Q for the period ended August 31, 2020, the Company is now in compliance with NASDAQs listing requirements.

Key Points: 
  • PORTLAND, Ore., Nov. 02, 2020 (GLOBE NEWSWIRE) -- On November 2, 2020, Schmitt Industries, Inc. (NASDAQ: SMIT) (the Company or Schmitt) received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, based on the October 30, 2020 filing of the Companys Form 10-Q for the period ended August 31, 2020, the Company is now in compliance with NASDAQs listing requirements.
  • Schmitt Industries, Inc., founded in 1987, designs, manufactures and sells high precision test and measurement products, solutions and services through its Acuity and Xact product lines.
  • The Company also owns and operates Ample Hills Creamery, a beloved ice cream manufacturer and retailer based in Brooklyn, NY.
  • Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors.

SCHMITT PROVIDES COVID-19 UPDATE AND SUPPORT PLANS

Thursday, March 26, 2020 - 2:39pm

First, Schmitt has implemented COVID-19 response and business continuity plans to protect its employees and their families, to safeguard continuity of Schmitt operations, and to ensure full support to its customers and partners.

Key Points: 
  • First, Schmitt has implemented COVID-19 response and business continuity plans to protect its employees and their families, to safeguard continuity of Schmitt operations, and to ensure full support to its customers and partners.
  • Second, Schmitt intends to fully retain its employees during these extraordinary times.
  • Although Schmitt anticipates revenue pressure on their business lines, Schmitt believes that its strong backlog and steady revenue from Xacts internet of things (IoT) monitoring will support revenue and operations over the coming months.
  • However, if revenues decline significantly, Schmitt expects that its CEO and CFO will decrease their compensation levels to help reduce costs and support employee retention.

Distinguished Programs Adds Erick Schmitt to Executive Sales Team

Wednesday, February 19, 2020 - 1:50pm

NEW YORK, Feb. 19, 2020 /PRNewswire-PRWeb/ --Distinguished Programs, a national insurance program manager, today officially announces the hiring of Erick Schmitt as the new regional sales executive for Texas and Oklahoma.

Key Points: 
  • NEW YORK, Feb. 19, 2020 /PRNewswire-PRWeb/ --Distinguished Programs, a national insurance program manager, today officially announces the hiring of Erick Schmitt as the new regional sales executive for Texas and Oklahoma.
  • Schmitt brings nearly 16 years of industry experience to his new executive role at Distinguished Programs.
  • "Adding an experienced insurance pro with such a strong track record and a history of positive results is sure to bolster the Distinguished executive sales staff," said Kurt Meister, senior vice president of business development at Distinguished Programs.
  • Prior to joining Distinguished Programs, Schmitt spent more than two years at Markel Specialty as senior sales manager.

Schmitt Announces Second Quarter 2020 Operating Results and CFO Appointment

Wednesday, January 15, 2020 - 1:17pm

PORTLAND, Ore., Jan. 15, 2020 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the Company or Schmitt) today announced its operating results for the second quarter of Fiscal 2020.

Key Points: 
  • PORTLAND, Ore., Jan. 15, 2020 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the Company or Schmitt) today announced its operating results for the second quarter of Fiscal 2020.
  • All continuing operation results are a reflection of these two business lines and the Tosei lease, which was entered into on November 22, 2019.
  • Operating expenses increased 21.0% and 6.3% for the three and six months ended November 30, 2019, respectively, as compared to the three and six months ended November 30, 2018.
  • We are pleased to announce the appointment of Jamie Schmidt as Chief Financial Officer (CFO) of the Company, effective immediately.