LLLP

Corning Reports Fourth-Quarter and Full-Year 2023 Financial Results

Retrieved on: 
Tuesday, January 30, 2024

On March 1, Corning will attend the Susquehanna Financial Group, LLLP 13th Annual Technology Conference.

Key Points: 
  • On March 1, Corning will attend the Susquehanna Financial Group, LLLP 13th Annual Technology Conference.
  • Corning will also host management visits to investor offices in select cities.
  • The company believes presenting non-GAAP financial measures assists in analyzing financial performance without the impact of items that may obscure trends in the company’s underlying performance.
  • Definitions of these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found on the company’s website by going to the Investor Relations page and clicking “Quarterly Results” under the “Financials and Filings” tab.

Loop Media Accesses Capital and Reduces Prior Existing Debt

Retrieved on: 
Monday, December 18, 2023

Loop also converted approximately $2.3 million in existing long-term debt into 2,910,771 Shares at $0.80 per share (at the market under NYSE rules).

Key Points: 
  • Loop also converted approximately $2.3 million in existing long-term debt into 2,910,771 Shares at $0.80 per share (at the market under NYSE rules).
  • "The additional funds provided by our Chairman is welcomed and evidences his support of the management team and the market opportunity for the company."
  • Existing Warrants exercisable for an aggregate of up to 443,332 Shares are held by Denise Penz, a member of our Board of Directors.
  • There is no assurance that other Existing Warrant holders (who are not officers or directors of the Company) will agree to the repricing and exercise of their Existing Warrants.

Neuberger Berman, Palos Capital and FinTech Ventures Complete Acquisition of IOU Financial

Retrieved on: 
Friday, September 29, 2023

MONTREAL, Sept. 29, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced the completion of the transaction under which 9494-3677 Québec Inc. (the "Purchaser"), a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"), (ii) funds managed by Palos Capital, including Palos IOU Inc. (together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company, and (iii) Fintech Ventures Fund, LLLP ("FinTech"), has acquired all of the issued and outstanding common shares of IOU (the "Shares"), other than certain Shares held by Neuberger Berman, Palos and FinTech, who received, in respect of such Shares, consideration consisting of common shares of the Purchaser, for a purchase price of $0.22 in cash per Share.

Key Points: 
  • MONTREAL, Sept. 29, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced the completion of the transaction under which 9494-3677 Québec Inc. (the "Purchaser"), a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"), (ii) funds managed by Palos Capital, including Palos IOU Inc. (together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company, and (iii) Fintech Ventures Fund, LLLP ("FinTech"), has acquired all of the issued and outstanding common shares of IOU (the "Shares"), other than certain Shares held by Neuberger Berman, Palos and FinTech, who received, in respect of such Shares, consideration consisting of common shares of the Purchaser, for a purchase price of $0.22 in cash per Share.
  • As a result of the completed transaction, the Shares are expected to be delisted from the TSX Venture Exchange (the "TSX-V") at the close of trading on October 6, 2023.
  • The Company will submit an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate the Company's public reporting requirements.

EQS-News: tokentus investment AG invests USD 300,000 into the US-based HOPR AI Inc., known as Jiritsu Network, who offers verifiable blockchain computing

Retrieved on: 
Monday, September 25, 2023

tokentus investment AG invests USD 300,000 into the US-based HOPR AI Inc., known as Jiritsu Network, who offers verifiable blockchain computing

Key Points: 
  • tokentus investment AG invests USD 300,000 into the US-based HOPR AI Inc., known as Jiritsu Network, who offers verifiable blockchain computing
    The issuer is solely responsible for the content of this announcement.
  • tokentus investment AG invests USD 300,000 into the US-based HOPR AI Inc., known as Jiritsu Network, who offers verifiable blockchain computing
    tokentus invests USD 300,000 via a SAFE (Simple Agreement for Future Equity) with the conversion option into equity of HOPR AI Inc., with a token warrant, providing the option to buy future tokens with an equity to token ratio of 1:1
    Frankfurt am Main, 21.
  • September 2023 - Frankfurt-based tokentus investment AG ("tokentus", ISIN: DE000A3CN9R8; WKN: A3CN9R; symbol: 14D) has invested USD 300,000 via a SAFE into HOPR AI Inc. ("Jiritsu Network") registered in Delaware, USA, with headquarters in New Jersey, USA.
  • According to its own positioning and description, Jiritsu Network thus specifically solves a recurring problem in the field of blockchain technology.

Jiritsu Raises $10.2 Million in Funding to Revolutionize Verifiable Compute

Retrieved on: 
Wednesday, September 20, 2023

NEW YORK, Sept. 20, 2023 /PRNewswire/ -- Jiritsu, a pioneer in verifiable computing, is thrilled to announce it has secured $10.2 million in funding, this round has been led by gumi Cryptos Capital, with participation from Susquehanna Private Equity Investments, LLLP, Republic Capital, and other investors.This significant financial backing will accelerate Jiritsu's mission of revolutionizing blockchain solutions. The company's groundbreaking Unlimited Verifiable Compute (UVC) technology offers an easily programmable approach that can be applied virtually to any workflow and generates Proof of Workflow (PoWF), setting a new paradigm in verifiable computing."Securing this funding is a significant milestone for Jiritsu," said Jacob Guedalia, CEO of Jiritsu. "It validates our vision and the groundbreaking work we've been doing in the field of verifiable computing. The strong strategic value of our investors, who are leaders in Real-World Assets, further solidifies our position. We've delivered over 4 million PoWF and counting, our UVC technology is setting new industry standards."Introducing Tomei RWA, Jiritsu's Flagship ProductAlongside this funding news, Jiritsu is proud to unveil Tomei RWA, a revolutionary asset tokenization platform. Built on Jiritsu's UVC and ZK-MPC technologies, Tomei offers unparalleled assurance in asset management through its proprietary attestation system. The platform employs Zero-Knowledge (ZK) attestations for secure and compliant asset onboarding, while also providing granular, permissioned access to data. Tomei's automation further streamlines compliance by minting tokens tied to initial ZK attestations, and its dynamic consensus mechanism ensures accurate, on-chain asset valuations."In summary, Tomei is a game-changer in the asset management industry," added Jacob Guedalia. "We're excited to leverage the funding to accelerate the development and adoption of both the UVC platform and Tomei RWA."The Team Behind JiritsuThe team is led by Jacob Guedalia, a successful serial entrepreneur with 4 exits and 50+ US Patents. He holds a BA in Physics and Philosophy from YU and a graduate degree in Applied Physics from the Weizmann Institute in Israel. David Guedalia, the Founder & Chief Architect, is a CTO with multiple exits and 50+ US patents. He holds a Ph.D. in Neural Computation at the Hebrew University in Jerusalem. Asher Gottesman co-Founder, has more than 20 years of experience in private equity. The team also includes Ph.D.s in Computer Science, Cryptography, Mathematics, and Physics.Quotes from Investorsgumi Cryptos Capital: "Jiritsu has developed a technology platform for compute verification, an increasingly important Internet infrastructure," said Miko Matsumura, Managing Partner at gumi Cryptos Capital. "With the launch of Tomei, we feel that the team has identified a killer application for this platform."Republic Capital: "We are thrilled to invest in this amazing team. We believe Jiritsu will be an important catalyst for the tokenized real-world asset space with its Verifiable Compute technology," said Brian Johnson, Senior Director at Republic Capital."RWAs may become one of the best use cases for blockchain," said Yida Gao, Shima Capital's Founder and Managing General Partner. "We are extremely bullish on Jiritsu's ability to accelerate the path towards mass adoption by scaling the asset tokenization sector with their unlimited verified compute technology powered by MPC."Additional InvestorsIn addition to gumiCC, Susquehanna Private Equity Investments, LLLP and Republic Capital the funding round also includes participation from Comma3, Kestrel, Eterna, Kestrel, Sera Fund, Evernew, Polymorphic, Shima, Tokentus, and other native blockchain funds, further solidifying the strong investor confidence in Jiritsu Network and its innovative solutions.www.jiritsu.network www.tomei.networkPress ContactFiona Dorothea [email protected] JiritsuJiritsu is a leading technology company specializing in decentralized and verifiable computing. Founded in 2020, the company has been at the forefront of computational innovation, developing technologies like Unlimited Verifiable Compute (UVC) and decentralized Zero-Knowledge Multi-Party Compute (ZK-MPC).About gumi Cryptos Capitalgumi Cryptos Capital (gCC) is a boutique early-stage blockchain-focused venture capital firm based in Silicon Valley. We believe the Internet will become the single largest market in human history, and it will be rebuilt on a foundation of new protocols that protect and coordinate the transfer of digital assets, resources, and intellectual property, generate consensus, incentivize network participants, and decentralize ownership. Since 2018, we have been among the earliest supporters of the founders of successful projects like OpenSea, Yield Guild Games, 1inch, Hashflow, Qredo, Agoric, and Lit Protocol. We add value by leveraging our entrepreneurial experience and global networks.Media Contact:[email protected](s):https://www.prlog.org/12984993Press release distributed by PRLog

Key Points: 
  • "Securing this funding is a significant milestone for Jiritsu," said Jacob Guedalia, CEO of Jiritsu.
  • "It validates our vision and the groundbreaking work we've been doing in the field of verifiable computing.
  • Alongside this funding news, Jiritsu is proud to unveil Tomei RWA, a revolutionary asset tokenization platform.
  • We believe Jiritsu will be an important catalyst for the tokenized real-world asset space with its Verifiable Compute technology," said Brian Johnson, Senior Director at Republic Capital.

IOU Financial Inc. Obtains Final Order Approving Plan of Arrangement

Retrieved on: 
Friday, September 15, 2023

MONTREAL, Sept. 15, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced that it has obtained a final order from the Superior Court of Québec approving the previously-announced statutory plan of arrangement under the Business Corporations Act (Québec) (the "Arrangement") pursuant to which 9494-3677 Québec Inc., a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"); (ii) funds managed by Palos Capital, including Palos IOU Inc. ("Palos IOU" and, together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company; and (iii) Fintech Ventures Fund, LLLP ("FinTech"), will acquire all of the issued and outstanding common shares of IOU (the "Shares") other than certain Shares to be re-invested by Neuberger Berman, Palos, FinTech and certain members of management of the Company, for a purchase price of $0.22 in cash per Share.

Key Points: 
  • MONTREAL, Sept. 15, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced that it has obtained a final order from the Superior Court of Québec approving the previously-announced statutory plan of arrangement under the Business Corporations Act (Québec) (the "Arrangement") pursuant to which 9494-3677 Québec Inc., a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"); (ii) funds managed by Palos Capital, including Palos IOU Inc. ("Palos IOU" and, together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company; and (iii) Fintech Ventures Fund, LLLP ("FinTech"), will acquire all of the issued and outstanding common shares of IOU (the "Shares") other than certain Shares to be re-invested by Neuberger Berman, Palos, FinTech and certain members of management of the Company, for a purchase price of $0.22 in cash per Share.
  • Closing of the Arrangement is expected to occur on or about September 22, 2023.

Loop Media Strengthens Balance Sheet

Retrieved on: 
Wednesday, September 13, 2023

Loop Media, Inc. (NYSE American: LPTV) (“Loop Media”), the free streaming television media company for businesses which provides over 2 billion video views every month via restaurants, retail businesses, office buildings, doctors’ offices, airports, bars and college campuses, has converted approximately $4.4 million of short-term debt and accrued interest into 6,005,487 shares of Loop Media common stock, at a conversion price of $0.74 per share – a premium to the closing price of Loop Media’s common stock on NYSE American on September 11, 2023 of $0.535 per share.

Key Points: 
  • Loop Media, Inc. (NYSE American: LPTV) (“Loop Media”), the free streaming television media company for businesses which provides over 2 billion video views every month via restaurants, retail businesses, office buildings, doctors’ offices, airports, bars and college campuses, has converted approximately $4.4 million of short-term debt and accrued interest into 6,005,487 shares of Loop Media common stock, at a conversion price of $0.74 per share – a premium to the closing price of Loop Media’s common stock on NYSE American on September 11, 2023 of $0.535 per share.
  • In addition, Loop Media has also rolled over approximately $2.3 million of short-term indebtedness due in September 2023 into Loop Media’s $4.0 million line of credit due in May 2025.
  • These steps are intended to help shore up Loop Media’s balance sheet as it moves forward into its new fiscal year starting October 1, 2023, by eliminating $4.4 million of indebtedness on the balance sheet and moving $2.3 million of short-term debt into long-term debt.
  • These transactions eliminate 6.7 million of short-term debt from Loop Media’s balance sheet, which constitutes a majority of Loop’s short-term debt.

IOU Financial Inc. Announces Voting Results of Special Meeting of Shareholders

Retrieved on: 
Tuesday, September 12, 2023

MONTREAL, Sept. 12, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced the positive outcome of the vote of the IOU shareholders (the "Shareholders") at this morning's special meeting of the Shareholders (the "Meeting") held virtually, approving the previously-announced statutory plan of arrangement under the Business Corporations Act (Québec) (the "Arrangement") pursuant to which 9494-3677 Québec Inc., a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"); (ii) funds managed by Palos Capital, including Palos IOU Inc. ("Palos IOU" and, together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company; and (iii) Fintech Ventures Fund, LLLP ("FinTech"), will acquire all of the issued and outstanding common shares of IOU (the "Shares") other than certain Shares to be re-invested by Neuberger Berman, Palos, FinTech and certain members of management of the Company, for a purchase price of $0.22 in cash per Share

Key Points: 
  • MONTREAL, Sept. 12, 2023 /PRNewswire/ - IOU Financial Inc. (TSXV: IOU) ("IOU" or the "Company") today announced the positive outcome of the vote of the IOU shareholders (the "Shareholders") at this morning's special meeting of the Shareholders (the "Meeting") held virtually, approving the previously-announced statutory plan of arrangement under the Business Corporations Act (Québec) (the "Arrangement") pursuant to which 9494-3677 Québec Inc., a corporation created by a group composed of (i) funds managed by Neuberger Berman ("Neuberger Berman"); (ii) funds managed by Palos Capital, including Palos IOU Inc. ("Palos IOU" and, together with Palos Capital, "Palos"), a newly-formed company consisting of certain affiliates of Palos Capital, certain former shareholders of the Company and directors and officers of the Company; and (iii) Fintech Ventures Fund, LLLP ("FinTech"), will acquire all of the issued and outstanding common shares of IOU (the "Shares") other than certain Shares to be re-invested by Neuberger Berman, Palos, FinTech and certain members of management of the Company, for a purchase price of $0.22 in cash per Share
    68,576,505 votes, or 86.19% of the votes cast by Shareholders present or represented by proxy at the Meeting were cast in favour of the special resolution approving the Arrangement (the "Arrangement Resolution") (17,330,557 votes, or 61.19% of the votes cast in favour of the Arrangement Resolution, excluding Shares required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions) ("MI 61-101")).
  • The Arrangement Resolution was required to be passed by (i) at least two-thirds of the votes cast by the Shareholders present or represented by proxy and entitled to vote at the Meeting; and (ii) a simple majority of the votes cast by the Shareholders present or represented by proxy and entitled to vote at the Meeting, excluding Shares required to be excluded pursuant to MI 61-101.
  • IOU will present its application for a final order to the Superior Court of Québec (the "Court") on September 15, 2023.
  • Subject to the Court's approval and certain customary closing conditions, closing is currently expected to occur in the following weeks.

IOU REPORTS Q2 2023 FINANCIAL RESULTS

Retrieved on: 
Monday, August 28, 2023

Entered into Arrangement Agreement to be acquired by a group of investors; transaction expected to close late Q3 2023

Key Points: 
  • Entered into Arrangement Agreement to be acquired by a group of investors; transaction expected to close late Q3 2023
    MONTREAL, Aug. 28, 2023 /PRNewswire/ - IOU FINANCIAL INC. ("IOU" or "the Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today its results for the quarter ended June 30, 2023.
  • IOU Financial originated US$53.9 million of loans in Q2 2023, an increase of 11% over Q1 2023 reflecting continued strong customer demand and the Company's focused product sales efforts.
  • Revenue for Q2 2023 was $5.0 million, a 10.1% increase over Q1 2023.
  • As a result of the increased originations, 2023 loan performance to date and operating expense reductions in Q2 2023, adjusted Q2 2023 net loss was ($0.4) million, representing an improvement of $1.3 million compared to Q1 2023 adjusted net loss.

IOU Financial Inc. Files Management Information Circular for Special Shareholders' Meeting

Retrieved on: 
Wednesday, August 16, 2023

In that event, the Company is nevertheless required to hold the Meeting and cause the Arrangement to be voted on at the Meeting.

Key Points: 
  • In that event, the Company is nevertheless required to hold the Meeting and cause the Arrangement to be voted on at the Meeting.
  • Additional information related to the benefits and related risks of the Arrangement are contained in the Circular.
  • The Circular is being mailed to Shareholders in compliance with applicable Canadian securities laws and the interim order issued by the Court.
  • The Circular is available on IOU's profile on SEDAR+ at www.sedarplus.ca and on IOU's website at www.ioufinancial.com .