MARKHAM, ON / ACCESSWIRE / December 23, 2019 / iFabric Corp. ("iFabric" or the "Company") (TSX:IFA), today announced its results for its 4th quarter and fiscal year ended September 30, 2019.

Q4 ENDED SEPTEMBER 30, 2019 HIGHLIGHTS:

Revenues of $3,175,167 compared to $2,491,691 in Q4 2018, representing an increase of $683,476 or 27%.

Revenues for the Intelligent Fabrics Division were $1,249,117 compared to $1,019,193 in Q4 2018, representing an increase of $229,924 or 23%.

Revenues for the Apparel Division were $1,870,417 compared to $1,446,897 in Q4 2018, representing an increase of $423,520 or 29%.

Gross profit increased by 60% or $526,931 to $1,409,559 from $882,628 in Q4 2018, attributable to higher revenues and higher gross margins.

Gross profit margins increased from 35% in Q4 2018 to 44% in Q4 2019. This increase was mainly as a result of increased chemical margins as well as the Intimate Apparel Division accounting for a higher proportion of revenues at higher margins in 2019 compared to 2018.

Adjusted EBITDA amounted to $383,096 compared to negative Adjusted EBITDA of $467,219 for 2018 representing an improvement of $850,315.

The net earnings after tax attributable to shareholders was $285,866 (or $0.011 per share basic and diluted) compared to net loss after tax of $221,106 (or $0.009 per share basic and diluted), in the same quarter of 2018 representing an increase of $506,972.

"I am very pleased with Q4's positive turnaround, with both divisions contributing to the bottom line," stated Hylton Karon, President and CEO of iFabric.

YEAR ENDED SEPTEMBER 30, 2019 HIGHLIGHTS:

Total revenues of $10,435,348 compared to $15,121,370 in 2018 representing a decrease of $4,686,022 or 31%.

Apparel Division revenue decreased from $10,909,112 in 2018 to $5,926,805 in 2019, representing a decrease of $4,982,307 or 46%. In comparison, for the 2019 financial year, Intelligent Fabric Division revenue increased to $4,393,723 from $4,109,857 in 2018, representing an increase of $283,866 or 7%. In the Intimate Apparel Division, most of the decreased revenue in 2019 versus 2018, was as a result of the discontinuance of sleepwear. In the Company's Intelligent Fabrics Division most of the increase in revenue was as a result of increased chemical sales.

Gross profit of $3,747,696 (or 36%) for the year ended September 30, 2019 compared to $7,103,456 (or 47%) in 2018, representing a decrease of $3,355,760 or 47%. The decrease in gross margins in primarily due to a major packaging refresh during the year and the clearance of residual sleepwear in the Intimate Apparel Division.

Adjusted negative EBITDA of $1,339,227 in 2019 compared to Adjusted EBITDA of $1,783,260 for 2018.

Net loss attributable to shareholders was $1,299,863 (or $0.050 per share basic and diluted) compared to net earnings attributable to shareholders of $924,743 (or $0.035 per share basic and $0.034 per share diluted) for the year ended September 30, 2018. The decrease in net earnings is mainly attributable to the decrease in gross profit contribution resultant from lower revenues as well as lower margins as discussed above.

Working capital (excluding the demand term loan referred to below, now classified as current) amounted to $7,033,084 in 2019 compared to $8,922,041 at September 30, 2018, representing a decrease of $1,888,957. The decrease in working capital is mainly attributable the loss for the year, as well as the acquisition of an additional 15% interest in its Markham property from the minority shareholders in December 2018, for cash consideration of $400,000. After the acquisition, the Company's interest in this property increased to 75% and the non-controlling interest decreased to 25%. This property was appraised by an independent appraiser in an amount of $6,800,000 on September 30, 2019, representing an increase of approximately $4,000,000 over the carrying value of this asset in the financial statements.

Shareholders' equity decreased by $1,772,728 from $11,029,367 in 2018 to $9,256,639 at September 30, 2019. This decrease is mainly attributable to the factors discussed above as well as a transition adjustment of $154,857 following from the adoption of a new IFRS Revenue standard.

Long term debt relating to the building owned by the Company decreased by $1,341,910 as a result of a demand term loan of $1,258,352 being reclassified as current due to its short-term maturity. Management anticipates renegotiating this loan prior to the maturity date.

Cash decreased to $2,287,548 compared to $3,542,899 in 2018, mainly as a result of the increased investment in a subsidiary and the loss for the year as discussed above.

The Company's bank operating line was unutilized at both September 30, 2019 and 2018, leaving the full line of $3,750,000 available to finance future business.

Complete Financial Statements are available on www.sedar.com and the company's website at www.ifabriccorp.com.

BUSINESS OUTLOOK:

Hylton Karon, President and CEO of iFabric provided the following brief summary of major developments during the year and prospects for the ensuing year:

Intelligent Fabrics

"The Intelligent Fabrics Division is maturing into a multi-faceted business. Responses to our stand-alone class leading technologies as well as our finished product design and manufacturing capabilities has caught the attention of major retailers and brands.

RepelTX has been adopted by several leading brands and now stands to join ProTX2 as a flagship technology.

New patents have been filed for innovative new apparel designs in both the USA and Canada.

The clinical trial for Protx2 has passed all required development phases, which has allowed the health care facilities to confirm a starting slot for official commencement towards the end of March 2020.

With new major apparel programs commencing around the middle of 2020, this division is expected to become the main revenue generator of the Company by the end of the next financial year. This will be a milestone for the Division."

Intimate Apparel and Accessories

"A major packaging refresh and the launch of new products earlier in the year have shown immediate benefits, as is evidenced by the improved Q4 results. With a number of new customers recently added, a steady increase in online sales, new patent registrations, and new products launching in 2020, I feel confident that this division is on its way back to returning to be a positive contributor to iFabric' s bottom line."

FINANCIAL HIGHLIGHTS

 
Year Ended September 30 
 
Quarter ended September 30 

 
  
2019
 
 
  
2018
 
 
  
2019
 
 
  
2018
 

Revenue

 
 $
10,435,348
 
 
 $
15,121,370
 
 
 $
3,175,167
 
 
 $
2,491,691
 

Income (loss) from operations

 
 
(1,650,029
)
 
 
1,266,425
 
 
 
174,747
 
 
 
(606,393
)

Share based compensation

 
 
120,928
 
 
 
151,839
 
 
 
11,739
 
 
 
22,987
 

Adjusted EBITDA *(Note)

 
 
(1,339,227
)
 
 
1,783,260
 
 
 
383,096
 
 
 
(467,219
)

Net income (loss) after tax

 
 
(1,296,680
)
 
 
927,257
 
 
 
293,946
 
 
 
(222,058
)

Net income (loss) after tax

attributable to shareholders

 
 
(1,299,863
)
 
 
924,743
 
 
 
285,866
 
 
 
(221,106
)

Other comprehensive earnings (loss)

 
 
(44,204
)
 
 
182,403
 
 
 
(149,418
)
 
 
(122,906
)

Total comprehensive earnings (loss)

 
 
(1,340,884
)
 
 
1,109,660
 
 
 
144,528
 
 
 
(344,964
)

Net earnings (loss) per share

Basic

 
 
0.050
 
 
 
0.035
 
 
 
(0.009
)
 
 
(0.009
)

Diluted

 
 
0.050
 
 
 
0.034
 
 
 
(0.009
)
 
 
(0.009
)

*Note: Adjusted EBITDA represents earnings before interest, taxes, depreciation, amortization and share based compensation.

ABOUT iFABRIC CORP:

Headquartered in Markham, Ontario, iFabric Corp www.ifabriccorp.com currently has 26.2 million shares issued and outstanding. Through its wholly-owned subsidiaries, Intelligent Fabric Technologies (North America) Inc. ("IFTNA") and Coconut Grove Pads Inc. ("Coconut Grove"), the Company offers a variety of products and services in both of its strategic divisions:

IFTNA is focused on performance apparel as well as proprietary chemical formulations that render fabrics, foams, plastics and numerous other surfaces intelligent, thereby improving the safety and well-being of the consumer.

Coconut Grove, operating as Coconut Grove Intimates, is a designer, manufacturer, distributor, licensor and licensee of ladies intimate apparel products and accessories.

FORWARD LOOKING STATEMENTS

Forward-looking statements provide an opinion as to the effect of certain events and trends on the business. Certain statements contained in this news release constitute forward looking statements. The use of any words such as "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the company's products.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason except as required by applicable securities laws.

Any financial outlook or future oriented financial information in this news release, as defined by applicable securities legislation, has been approved by management of iFabric. Such financial outlook or future oriented financial information is provided for the purpose of providing information about management's reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

FOR FURTHER INFORMATION, please contact:

Hilton Price, CFO
Tel: 647.465.6161
Email: hilton.price@rogers.com

Gary Perkins – Investor Relations
Tel: 416.882.0020
Email: garyperkins@rogers.com

Jean-François Dubé (Québec) – Investor Relations
Tel: 514.233.9551
Email: jfdube@mac.com

Website: http://www.ifabriccorp.com/

Neither the TSX Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: iFabric Corp.

ReleaseID: 571232

MXC Contract Upgrade

NEW YORK, NY / ACCESSWIRE / December 24, 2019 / On December 15, 2019, the MXC upgraded their platform App, and the contract section was tested and officially launched. BTC, ETH, and EOS, are currently available. MXC has officially joined the competition in the contract market. It can be found that MXC has very clear ambitions for its ecological blueprint. In addition, the MXC perpetual contract supports both margin positions and margin positions. Official announcement: Compared with the previous test version, the official version will greatly optimize the product experience and transaction depth.

As for the level of this contract segment that competes, the comparison between the test version and the official version should be observed first:

In the official version of the contract, only the forward contract currencies of the three mainstream currencies, BTC, ETH, and EOS, were left. The XRP, BCH, and TRX in the test version were all put into leveraged trading. In terms of UI, the hue is more blue-green, and the space above is left and placed on the left in terms to save space.

It is worth noting that in the new version of the app, MXC has also been added to the contract section, which is more valuable than the previous operation only on the web.

Several highlights can be mentioned:

1. The order is divided into: limit order, plan order and advanced order. Among them, the plan can guarantee that the target price is triggered and can be used to close or open a position; and the "only Maker" in the advanced commission can prevent the loss of the price by mistake

2. The total position is 1036985, equivalent to 103BTC, and the insurance is 4865.USDT

3. As well as the fund rate for settlement and settlement every 8 hours, one party can collect interest from the other party during settlement. Assume that at 3:00 on the afternoon of December 17, 2019, 10,000 short orders will be opened with 10 times leverage, the price is 6887 USDT / unit, and the total value of the position is 1 BTC. Then the rate shown in the transaction interface is 0.0535%. After calculation, the short will receive 3.685USDT, about 26 yuan. Of course, if there is a long position, this funding rate will be paid.

Please feel free to submit data reports&feedbacks for any different opinions.

Contract Market In Full Swing

The question for the retail investors before was "I'm new in the market, which one do I buy?"

Now the question has changed to" I'm new in the market, spot leverage or futures contracts? how many positions? how much profit and loss?

In the crypto market right now, the atmosphere is very different from the past. Users who do not play futures leverage is unbelievable.

But in the eyes of veteran Bitcoin players, this is not much different from the situation of 14 years and 15 years. In the beginning of 2014, in the two-year bear market triggered by the bankruptcy of MT.Gox by hackers, the initial price drop left everyone at a loss. After the initial panic, the market began to fall slowly.

As prices fell, trading volume also became really dull and inactive, and liquidity entered a deadlock. On the other hand, the situation is totally different with futures contracts . The emergence of the Bitcoin futures market provides users with corresponding leverage and futures contract services.

Most players have entered the futures contract market after seeing no money-making effect on the spot. While short selling and hedging have become the main theme of the market atmosphere, they have once again injected liquidity into the market.

The prevailing view is that Bitcoin is digital gold. However, there is another voice. The blockchain market cycle is four years. Within four years, the yield can only be greatly improved. In the long process of falling and boring fluctuations, futures contracts are required to provide trading opportunities for traders.

User Posting Their Returns

With the official launch of the MXC App contract, coupled with the slight fluctuations in bitcoin from the past week. Bitcoin has fallen again in the past two days, resulting in the contract market being relatively unpopular, only slightly better than the spot market. Gradually, some investors have revealed their contract yield on mxc on Weibo,wechat moments and other social media.

It can be observed that during the decline of BTC in the past 5 days, the mainstream tokens have also fallen. This drop has given some investors some good returns

On the whole, the market has not entered the cold winter, there is still a money-making effect, the direction is right, and the return rate is still amazing.

Admission Of Old Money, Intensified Competition In The Contract Market

Today, regardless of whether it is a top-tier exchange or the new exchanges, futures contracts have become a must-open sector. But a mature futures trading market is not a slot machine that guesses the size. It requires many prerequisites. At the same time, it also has insurance, depth, and smooth UI … Only then has a mature futures trading market.

According to New York Digital Investment Group (NYDIG) this week has obtained the US SEC's approval to create a new Bitcoin futures fund. Bitcoin strategy fund will invest in cash-settled Bitcoin futures contracts on the CFTC registered exchange. Currently, only Bakkt and CME are qualified

The entry of traditional finance has intensified the channels for traditional funds to indirectly invest in Bitcoin, which is beneficial to the development of the blockchain industry for a long time. But at the same time, it may bring great squeeze to exchanges such as MXC. The trading platforms in the circle may need to be forced to make continuous changes in order to gain incremental users in the upcoming battle.

Organization: MXC PRO FOUNDATION LTD
Email: business@mxc.com

Lily
800-2365-8932
Website: www.mxc.com

SOURCE: MXC PRO FOUNDATION LTD

ReleaseID: 571273

ENGLEWOOD, CO and SAN DIEGO, CA / ACCESSWIRE / December 24, 2019 / Aytu BioScience, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company focused on commercializing novel products that address significant patient needs and Innovus Pharmaceuticals, Inc. (OTCQB:INNV), a specialty pharmaceutical company commercializing, licensing and developing safe and effective consumer health products, today announced that the companies have filed with the U.S. Securities and Exchange Commission a registration statement on Form S-4 containing a joint preliminary proxy statement/prospectus in connection with Aytu BioScience's proposed acquisition of Innovus Pharmaceuticals on December 23, 2019 after markets closed.

The registration statement containing the joint preliminary proxy statement/prospectus is available through the SEC's website at www.sec.gov and on each company's website on the respective company's Investor section.

As previously announced the companies signed a definitive merger agreement whereby Aytu will retire all outstanding common stock of Innovus for an aggregate of up to $8 million in shares of Aytu common stock, less certain deductions, at the time of closing, including amounts owed from Innovus to Aytu under a promissory note (currently $1.35 million principal amount), payments to be made to warrant holders, changes in Innovus liabilities and working capital, and other adjustments. This initial consideration to Innovus common shareholders is currently estimated to consist of approximately 3.9 million shares of Aytu stock. Each Innovus common shareholder will also receive contingent value rights ("CVRs"), representing the right to receive additional consideration of up to an aggregate of $16 million, paid for in cash or stock at Aytu's option, over the next five years if certain revenue and profitability milestones are achieved.

Innovus generated nearly $23 million in revenue during the twelve-month period ended September 30, 2019.

Through this combined entity, Aytu will expand into the $40 billion consumer healthcare market with a portfolio of over thirty-five consumer products competing in large therapeutic categories including diabetes, men's health, sexual wellness and respiratory health. This expanded product line broadens Aytu's portfolio beyond prescription therapeutics to enable wider revenue distribution, reduced seasonality associated with Aytu's seasonal antitussive product line, and higher revenue from an expanded base of proprietary products.

Combined, Aytu and Innovus generated approximately $43 million in revenue over the twelve-month period ended September 30, 2019. The companies believe this business combination will provide increased revenue scale and enable operational synergies that can be leveraged to accelerate the combined company's growth and path to profitability. Aytu will also take over the outstanding notes payable of Innovus which, at the time of signing, was approximately $2.8 million.

Upon closing, Aytu expects to operate the commercial aspects of the Innovus consumer business separately from Aytu's prescription business, while rationalizing general and administrative expenses through the removal of Innovus' public company costs and redundant administrative and operational processes, along with the reduction in overhead, administrative and facilities costs.

Aytu's prescription product portfolio will continue to be primarily commercialized through the existing Aytu sales force, while the consumer health products will continue to be primarily commercialized via Innovus' proprietary Beyond Human® marketing platform. However, both lines of business are expected to benefit from opportunistic cross-selling such that some consumer products may be marketed in the physician office setting by Aytu's sales force, while the marketing of the prescription products may be bolstered through various online and direct-to-consumer marketing initiatives.

The boards of directors of both companies have approved the terms of the merger transaction, which is subject to the approval of both companies' shareholders. At the time of signing the definitive agreement, Aytu had collected voting agreements supporting the merger transaction that represent approximately 35% of current shares outstanding. Innovus has thus far collected voting agreements supporting the transaction that represent approximately 24% of shares outstanding.

The transaction, which is expected to close on or around March 31, 2020, pending timing of review by the Securities and Exchange Commission and a shareholder vote, which would follow the effectiveness of the S-4/proxy statement. The merger is subject to customary closing conditions and regulatory approvals.

About Aytu BioScience, Inc.

Aytu BioScience is a commercial-stage specialty pharmaceutical company focused on commercializing novel products that address significant patient needs. The company currently markets a portfolio of prescription products addressing large primary care and pediatric markets. The primary care portfolio includes (i) Natesto®, the only FDA-approved nasal formulation of testosterone for men with hypogonadism (low testosterone, or "Low T"), (ii) ZolpiMist™, the only FDA-approved oral spray prescription sleep aid, and (iii) Tuzistra® XR, the only FDA-approved 12-hour codeine-based antitussive syrup. The pediatric portfolio includes (i) AcipHex® Sprinkle™, a granule formulation of rabeprazole sodium, a commonly prescribed proton pump inhibitor; (ii) Cefaclor, a second-generation cephalosporin antibiotic suspension; (iii) Karbinal® ER, an extended-release carbinoxamine (antihistamine) suspension indicated to treat numerous allergic conditions; and (iv) Poly-Vi-Flor® and Tri-Vi-Flor®, two complementary prescription fluoride-based supplement product lines containing combinations of fluoride and vitamins in various for infants and children with fluoride deficiency. Aytu's strategy is to continue building its portfolio of revenue-generating products, leveraging its focused commercial team and expertise to build leading brands within large therapeutic markets. For more information visit aytubio.com.

About Innovus Pharmaceuticals, Inc.

Headquartered in San Diego, Innovus Pharmaceuticals is an emerging over the counter ("OTC") consumer goods and specialty pharmaceutical company commercializing, licensing and developing safe and effective non-prescription medicine and consumer care products to improve men's and women's health and vitality. The Company is dedicated to being a leader in developing and marketing new OTC medicines and branded Abbreviated New Drug Application ("ANDA") products. The Company is actively pursuing opportunities where existing prescription drugs have recently, or are expected to, change from prescription to OTC.

No Offer or Solicitation

Communications in this news release do not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the proposed transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Communications in this news release do not constitute a notice of redemption with respect to or an offer to purchase or sell (or the solicitation of an offer to purchase or sell) any security of Innovus.

Additional Information and Where to Find It

In connection with the proposed transaction between Aytu and Innovus, Aytu and Innovus will file relevant materials with the Securities and Exchange Commission (the "SEC"), including an Aytu registration statement on Form S-4 that will include a joint proxy statement of Aytu and Innovus that also constitutes a prospectus of Aytu, and a definitive joint proxy statement/prospectus will be mailed to shareholders of Aytu and Innovus. INVESTORS AND SECURITY HOLDERS OF AYTU AND INNOVUS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the registration statement and the joint proxy statement/prospectus (when available) and other documents filed with the SEC by Aytu or Innovus through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Aytu will be available free of charge on Aytu's internet website at https://irdirect.net/AYTU under the heading "SEC Filings" or by contacting Aytu's investor relations contacts at (646) 755-7412 or james@haydenir.com. Copies of the documents filed with the SEC by Innovus will be available free of charge on Innovus' internet website at https://innovuspharma.com/Investors/ under the heading "SEC Filings" or by contacting Innovus' investor relations at ir@innovuspharma.com.

Certain Information Regarding Participants

Aytu, Innovus, and their respective directors and executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of Aytu is set forth in its Annual Report on Form 10-K for the year ended June 30, 2019, which was filed with the SEC on September 26, 2019. Information about the directors and executive officers of Innovus is set forth in its Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on April 1, 2019 and its proxy statement for its 2019 annual meeting of shareholders, which was filed with the SEC on April 30, 2019. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when they become available. You may obtain these documents (when they become available) free of charge through the website maintained by the SEC at http://www.sec.gov and from Investor Relations at Aytu or Innovus as described below.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. Forward-looking statements are generally written in the future tense and/or are preceded by words such as ''may,'' ''will,'' ''should,'' ''forecast,'' ''could,'' ''expect,'' ''suggest,'' ''believe,'' ''estimate,'' ''continue,'' ''anticipate,'' ''intend,'' ''plan,'' or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. All statements other than statements of historical facts contained in this presentation, are forward-looking statements, including but not limited to any statements regarding the expected timetable for completing the proposed transaction, the results, effects, benefits and synergies of the proposed transaction, future opportunities for the combined company, future financial performance and condition, guidance and any other statements regarding Aytu's or Innovus' future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance. These statements are just predictions and are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include, among others: failure to obtain the required votes of Innovus' shareholders or Aytu's shareholders to approve the transaction and related matters, the risk that a condition to closing of the proposed transaction may not be satisfied, that either party may terminate the merger agreement or that the closing of the proposed transaction might be delayed or not occur at all, the price per share utilized in the formula for the initial $8 million merger consideration may not be reflective of the current market price of Aytu's common stock on the closing date, the failure to meet the revenue and profitability milestones that trigger the CVRs such that Innovus shareholders never realize value from the CVRs, potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction, the diversion of management time on transaction-related issues, the ultimate timing, outcome and results of integrating the operations of Aytu and Innovus, the effects of the business combination of Aytu and Innovus, including the combined company's future financial condition, results of operations, strategy and plans, the ability of the combined company to realize anticipated synergies in the timeframe expected or at all, changes in capital markets and the ability of the combined company to finance operations in the manner expected, regulatory approval of the transaction, risks relating to gaining market acceptance of our products, obtaining reimbursement by third-party payors, the potential future commercialization of our product candidates, the anticipated start dates, durations and completion dates, as well as the potential future results, of our ongoing and future clinical trials, the anticipated designs of our future clinical trials, anticipated future regulatory submissions and events, our anticipated future cash position and future events under our current and potential future collaboration. We also refer you to the risks described in ''Risk Factors'' in Part I, Item 1A of the company's Annual Report on Form 10-K and in the other reports and documents we file with the Securities and Exchange Commission from time to time.

Contact for AYTU Investors:

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

Contact for INNV Investors:

Randy Berholtz
Innovus Investor Relations
(858) 249-7865
ir@innovuspharma.com

SOURCE: Aytu BioScience, Inc.

ReleaseID: 571135

LOS ANGELES, CA / ACCESSWIRE / December 24, 2019 / Shares of Q BioMed (OTCQB:QBIO) have been rising steadily during the last few sessions after former Wall Street Journal All Star Analyst Theodore R. O'Neill, IRC initiated sponsored coverage on the emerging commercial stage biotech developer.

O'Niell has told investors that he expects revenue from its non-opiate based cancer bone pain management product (Metastron™ and its generic, Strontium 89) to begin next year and believes demand will exceed expectations. The company has indicated that it will ultimately generate $25 million to $50 million annually, however we believe it will exceed those expectations.

The firm's plans for the metastatic skeletal cancer palliation drug Strontium 89 Chloride USP Injection (Strontium-89) and the braded version Metastron™- which the firm acquired from GE Healthcare in late 2018- may end up adding exponential value to the company's shares but it has not been a steady run for investors.

Shares of the company had been trading lower after an anticipated FDA Approval of the firm's Strontium-89 contract manufacturer took much longer than anticipated. However, a late November spike in share price and volume marked the day in which the approval announcement finally came, thus clearing the last hurdle to sales of the product. These events have prompted a "buy" recommendation and 12-month price target of $5.00 per share is based on a discounted earnings model from O'Neill.

Since the FDA announcement, shares of the low float innovator have been seeing some quiet accumulation steadily rising from $0.40 per share prior to the approval to approximately $2.00 yesterday when shares traded at seven times the daily average. Technical analysts also note that QBIO shares have also been trading in bullish rounding bottom chart pattern throughout the month of December. Such patterns usually signify a reversal in long-term price movement and are deemed by many traders as a rare occurrence.

QBIO CEO Denis Corin, who cut his teeth working for the sales and marketing divisions at big pharma firms like Novartis and Beckman Coulter, had recognized that Metastron™ was basically being ignored by GE Healthcare as an effective and underutilized non-opioid therapy for the treatment of debilitating pain associated with skeletal cancer metastases. The drug had been on the market for several years, but analysts agree that the global brand which has market authorization in 22 countries has been mostly under marketed and perhaps even under-utilized.

Q BioMed owns both the generic and the brand. Metastron™ and Strontium-89 is a very effective palliation drug franchise, and as opposed to getting multiple doses of opiates- which lead to all sorts of side effects like brain fog and constipation and literally leaving some of these patients in zombie-like states, a single injection of Metastron™ or Strontium Chloride can ameliorate pain for up to six months, effectively reducing or even eliminating the need for opioid analgesics, which practitioners are being asked to re-evaluate the use of, in the shadow of the global opioid crisis.

It is important for QBIO shareholders to understand, that the relatively young biotechnology firm also has a very deep pipeline of significant products and value opportunities with catalysts and milestones within each of those assets as the company prepares to progress into 2020. Currently the firm's market capitalization stands at approximately $30M with 16.7M shares out current and 12.5M shares in the float.

The full sponsored research report from analyst Theodore R. O'Neill, IRC is available at:

http://www.hillsresearch.com/wp-content/uploads/2019/12/QBIO-Initiation-A.pdf

This article including investment thesis images is available at:

https://www.biomedreports.com/articles/featured-content/377051-investors-accumulating-shares-of-q-biomed-after-analyst-note-points-to-anticipated-revenue-expectations.html

####

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SOURCE: BioMedReports.com

ReleaseID: 571270

TORONTO, ON / ACCESSWIRE / December 24, 2019 / AurCrest Gold Inc. (the "Company" or "AurCrest") (TSXV:AGO) is pleased to announce that the Company has signed an Option Agreement (the "Agreement") with Newrange Gold Inc. ("Newrange") to option a 100% interest in the Company's Western Fold property in the Birch-Uchi greenstone belt northeast of Red Lake, Ontario.

Under the terms of the Agreement, Newrange has the option to acquire a 100% interest in the AurCrest Western Fold property by paying AurCrest an aggregate of $200,000 and issuing an aggregate of 1 million common shares over two years with an initial payment of $30,000 and the issuance of 150,000 common shares on or before closing, the payment of a further $70,000 and the issuance of an additional 350,000 common shares on the first anniversary following closing, and the payment of a further $100,000 and the issuance of an additional 500,000 common shares on the second anniversary following closing. AurCrest retains a 2% Net Smelter Return royalty in the Western Fold property, half of which can be purchased for $1,000,000. The transaction is subject to TSX Venture Exchange approval by Newrange. The transaction is anticipated to close within the next week.

About AurCrest Gold Inc.

AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.

FOR FURTHER INFORMATION PLEASE CONTACT:

AurCrest Gold Inc.

Christopher Angeconeb
President and C.E.O
(807) 737-5353
christopherangeconeb@gmail.com

Ian Brodie-Brown
Director of Business Development
(416) 844-9969
ianbrodiebrown@gmail.com

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: AurCrest Gold Inc.

ReleaseID: 571260

VANCOUVER, BC and BOSTON, MA / ACCESSWIRE / December 24, 2019 / Imagin Medical (CSE:IME) (OTCQB:IMEXF) (Frankfurt & Stuttgart Symbol:DPD2) ("Imagin" or the "Company") today reported financial results for its fiscal year ended September 30, 2019. All amounts, unless otherwise specified, are expressed in Canadian dollars and are presented in accordance with International Financial Reporting Standards (IFRS).

Select Corporate Developments Since Beginning of Fiscal 2019

In October 2018, Imagin welcomed Chris Bleck as a director of the Company.
In February 2019, Imagin completed, via its opto-electronic design firm, Optel, Inc., the proof of concept phase of the redesigned i/BlueTM Imaging System's control unit and validated the performance of the light source and imaging modules.
In April 2019, Imagin completed the i/Blue system's initial functional unit, which successfully met the Company's pre-established performance expectations.
In April 2019, Imagin welcomed world-renowned bladder cancer expert Dr. Ashish M. Kamat to its Scientific Board of Advisors.
In May 2019, Imagin held private focus groups at the American Urology Association's Annual Meeting, where leading urologists assessed the first i/Blue functional prototype product and provided feedback that was used to finalize the i/Blue product's user needs.
In July 2019, Imagin reported that it had successfully advanced to the design verification stage of its iBlue System product development program.
In both the third and fourth fiscal quarters of 2019, Imagin met with the U.S. Food and Drug Administration ("FDA") to discuss the i/Blue System's premarket approval regulatory pathway for marketing authorization.
In November 2019, Imagin reported that its i/Blue functional units are on schedule for design verification, which is currently in progress.

"We're very pleased with the progress we have made in 2019, having completed the i/Blue system's proof of concept phase and progressed the system well into the functional development phase," said Jim Hutchens, Imagin's President and CEO. "With the design verification stage nearing completion, we are preparing for pilot production runs in the first quarter of 2020. We are excited to build on our momentum in the new year, and continue moving the i/Blue system toward commercialization."

Summary Fiscal Year End 2019 Financial Results

Total operating expenses for the fiscal year 2019 were $4,499,927, compared with $4,998,339 in 2018, and consisted primarily of research and development ("R&D") and general and administrative ("G&A") expenses. R&D expenses for the fiscal year 2019 were $3,188,202 compared to $806,849 in 2018. The increase in R&D expenses was primarily attributable to development, design, engineering, FDA and regulatory expenses. G&A expenses for the fiscal year 2019 were $1,311,725 compared to $3,823,486 in 2018. The reduction in G&A expenses was primarily attributable to the decrease in consulting fees as there were no expenses related to raising capital during the fiscal year 2019.

Net loss for the fiscal year 2019 was $4,457,322, or $0.03 loss per common share, compared to a net loss of $7,958,086, or $0.07 loss per common share in 2018.

Liquidity and Outstanding Share Capital

As at September 30, 2019, the Company had cash of $2,272,770.

As at December 24, 2019, Imagin had an unlimited number of authorized common shares with 139,060,278 common shares issued and outstanding.

The Company's financial statements and management's discussion and analysis are available on www.sedar.com.

Conference Call Details

Due to the holiday season, Imagin has scheduled a conference call for Tuesday, January 7, 2020, at 5:00 p.m. ET during which the results will be discussed.

Live Call: 844-602-0380 (Canada and the United States)
862-298-0970 (International)

Replay: 877-481-4010 (Canada and the United States)
Replay ID: 57013

The call will also be broadcast live and archived on the Company's website at www.imaginmedical.com under "Events & Presentations."

About Imagin Medical

Imagin Medical is a surgical imaging company focused on advancing new methods of visualizing cancer during minimally invasive procedures. The Company believes its first product, the i/Blue™ Imaging System, with its proprietary optics and light sensors, will greatly increase the efficiency and accuracy of detecting cancer for removal, helping to reduce recurrence rates. The Company's initial focus is bladder cancer. Learn more at www.imaginmedical.com.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Specifically, there is no assurance the Company's imaging system will work in the manner expected. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.

Contacts:

Stephen Kilmer, Investor Relations
Telephone: 647-872-4849
Email: stephen@kilmerlucas.com

Jim Hutchens, President & CEO
Telephone: 833-246-2446

SOURCE: Imagin Medical

ReleaseID: 571250

BALA CYNWYD, PA / ACCESSWIRE / December 24, 2019 / Law office of Brodsky & Smith, LLC reminds investors of the deadline to file regarding claims against Merit Medical Systems, Inc. ("Merit Medical" or the "Company") (NASDAQ:MMSI) for possible breaches of Federal Securities law.

The Class Period commences on February 26, 2019, when Merit Medical reported fourth quarter 2018 and fiscal year 2018 results and established financial guidance for 2019, including core revenue growth of 8%-10%.

According to the filed complaint, Merit Medical is a leading manufacturer and marketer of proprietary disposable medical devices used in interventional, diagnostic, and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care, and endoscopy. During 2018, Merit Medical acquired three companies. Specifically, in February 2018, the Company completed the acquisition of Becton, Dickinson and Company and on November 13, 2018, the Company completed the acquisition of Cianna Medical, Inc. ("Cianna"), which makes products for the treatment of breast cancer, for up to $200 million, making it Merit Medical's largest-ever acquisition. Thereafter, in December 2018, the Company completed its acquisition of Vascular Insights, LLC ("Vascular Insights"), and acquired its ClariVein product, for up to $60 million.

On October 30, 2019, after the market closed, Merit Medical issued a press release announcing its third quarter 2019 financial results, reporting non-GAAP EPS of $0.28, well below consensus estimates of $0.45, reducing fiscal year 2019 guidance, and completely withdrawing fiscal year 2020 guidance. Following this news, the Company's stock price declined more than 29%, from a close of $29.11 per share on October 30, 2019 to a close of $20.66 per share on October 31, 2019.

The filed complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (a) the integrations of Cianna and Vascular Insights, including their products, salespeople, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (b) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights' products which, as late as July 2019, had zero orders during fiscal year 2019; and (c) in light of the foregoing, the Company's reported financial guidance for fiscal 2019 and 2020 was made without a reasonable basis.

If you purchased shares of Merit Medical between February 26, 2019 and October 30, 2019 and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. The deadline for filing is February 3, 2020. You may contact Marc Ackerman, Esquire or Jordan Schatz, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/?post_type=cases&p=13407&preview=true, or by calling toll free 877-534-2590.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE: Brodsky & Smith, LLC 

ReleaseID: 571243

DALLAS, TX / ACCESSWIRE / December 24, 2019 / Envela Corporation (NYSE American:ELA) ("Envela" or the "Company") announced today that it is launching a new, comprehensive website intended to enhance investors' interactive experience in several ways. The new site, Envela.com, is expected to debut January 3rd.

The new website will offer quick, intuitive access to essential Company information, including news, financial and stock information, presentations, SEC filings, corporate-governance information, and the ability to enroll for email alerts. Created with the user experience in mind, the new website will be optimized across all digital devices, desktop and mobile.

"This new website is part of our continued effort to enhance communications with the investment community and maximize corporate transparency for the benefit of our investors," said Allison DeStefano, Envela's Director of Communications. "Our goal is to provide current and prospective investors with desired information in an easy-to-access format," added Ms. DeStefano.

"Our new IR platform is intended to support a growing shareholder base, enhance our ability to attract new institutional and individual investors, and better inform analysts and financial reporters," said John Loftus, Envela's CEO.

About Envela

Envela and its subsidiaries engage in diverse business activities within the recommerce sector. These include one of the nation's premier authenticated recommerce retailers of luxury hard assets; end-of-life asset recycling; data destruction and IT asset management; and providers of products, services and solutions to industrial and commercial companies.

Envela operates primarily via two business segments. Through DGSE, LLC, the Company will operate its Dallas Gold and Silver Exchange, Charleston Gold & Diamond Exchange, and Bullion Express brands. Under ECHG, LLC, it will operate Echo Environmental, ITAD USA and Teladvance. Envela is a Nevada corporation, headquartered in Dallas, Texas.

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements, including statements regarding the potential future success of business strategies. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.

Investor Relations Contact:
David Vadala
Head of Investor Relations
Envela Corporation
13022 Preston Rd Dallas, TX 75240
972.587.4030

SOURCE: Envela Corporation

ReleaseID: 571154

Tabcorp will undertake in a ten-day marketing campaign advertising one of its biggest lotto draws in conjunction with the new Star Wars films, The Rise of Skywalker. Additionally, Tabcorp has a lot of success with its lotteries division.

AUSTRALIA / ACCESSWIRE / December 24, 2019 / Australia's ASX-listed gaming company Tabcorp Holdings has a marketing campaign commencing today that is tied-in with the new blockbuster Star Wars film, The Rise of Skywalker. Over the next ten days, an advertisement for the $30 million post-Christmas Saturday lotto draw (December 28) will appear at every session of the film. The mammoth draw is traditionally the primary planned event on the Tabcorp's lotteries division annual calendar.

Representing a popular Christmas gift in recent years, approximately one in three Australians adults receive lottery tickets which equates to 5 million tickets sold for the mega draw. During peak times pre-draw 1200 tickets a minute will be sold. Managing Director – Lotteries and Keno, Sue van der Merwe is optimistic that a strong result from the December 28 draw will mark a significant year for van der Merwe. In September, Powerball hit a record prize pool of $150 million resulting in the biggest jackpots ever witnessed in the country. Furthermore, Powerball has assisted the FY 2019 financials for the lotteries division with earnings before interest and tax (EBIT) by $425 million or 37 per cent. Since the merge of Tabcorp and Tatts Group in 2017 creating a world-class, diversified entertaining group under the Tabcorp brand, the lotteries division has been the stellar performer.

Even though Saturday's Powerball has had great success, Ms van der Merwe has said that it's the performance of all the games in Tabcorp's portfolio. This including base games on Monday and Wednesday which gives players the chance to win $20,000 a year for 20 years and Saturday as well as Instant Scratchies. "The sign of a strong lottery business is to have the whole portfolio performing well. It's no good if Powerball is driving big jackpots and doing incredibly well and the rest of the portfolio is being cannibalised and not performing.

Adjusting jackpot levels combined with tweaking marketing activity is crucial to the success of the lottery's division. Tabcorp can adjust the jackpot level up or down. Ms van der Merwe added, "it's very much like a consumer goods business, and we absolutely approach it like that in the way we run it."

Michael Kodari, the CEO of KOSEC – Kodari Securities states "what a better way not to be a statistic and loose when gambling, but actually invest in a stock that can help you profit from the sector. Regardless of a financial crisis or another GFC scenario, businesses like this tend to be defensive and still do well."

Tabcorp Holdings Limited (TAH) is into the provision of gambling and entertainment services. Tabcorp's portfolio of brands includes TAB, Keno, The Lott, George, Max, TGS, eBET and Sky Racing. The Group has four operating segments, namely Wagering and Media, Lotteries and Keno, Gaming Services and Sun Bets. Tabcorp has a market capitalisation of $9.6 billion.

Media Contact Information

Company: KOSEC – Kodari Securities

Email: Info@kosec.com.au

Telephone: 1300 854 151
Website: https://www.kosec.com.au

SOURCE: Tabcorp Holdings

ReleaseID: 571271