Announces Participation in Investor Update Webinar on Tuesday, March 31, 2020 at 11:00 am EST

VANCOUVER, BC / ACCESSWIRE / March 30, 2020 / Organto Foods Inc. (TSXV:OGO)(OTCPINK:OGOFF) ("Organto" or "the Company"), an integrated provider of fresh organic vegetables and fruits today provided a further update to its previous news release dated March 18, 2020 related to ongoing operations during the COVID-19 pandemic. In addition, Organto provided an update on forecast record revenues and gross profits for the first quarter of 2020, and announced that Steve Bromley, Chair and Interim CEO and Rients van der Wal, COO & CEO of Organto Europe B.V. will be participating in Adelaide Capital Investor Relations webinar series on Tuesday, March 31, 2020 at 11:00 am EST, to provide an update on European operations during the COVID-19 pandemic.

Business Operations During COVID-19 Pandemic

Organto continues to manage operations remotely via the Company's information technology and communication systems which permit full operational and administrative capabilities from remote locations. Demand for food at retail remains strong throughout key European markets, and to this point the Company's supply chains have continued to operate in difficult circumstances, as governments prioritize food operations as essential during the crisis. Organto continues to believe its diverse sourcing and logistics expertise combined with flexible supply chain capabilities has positioned the Company for success, both in the short and long term. Organto continues to carefully monitor developments and will update stakeholders as new information becomes available.

First Quarter 2020 Revenue Guidance

For the first quarter ended March 31, 2020 Organto expects to realize record first quarter revenues of approximately CDN $1.6 to CDN $1.65[1] million, an increase of approximately 1,200% versus the same quarter in the prior year. First quarter revenues are being driven by sales of organic asparagus, avocado, mangos and other fruits and vegetables, which are sold to a diverse customer base of traditional retailers, specialty organic retailers and distributors, located in the Netherlands, U.K., Belgium, Germany, France, Spain, Russia, Sweden, Norway and Denmark. Gross profits are also expected to be a first quarter record and significantly improved versus the prior year. Forecast results for the first quarter will represent three consecutive quarters of record revenues and gross profits for the Company, confirming the benefits of the Company's repositioned business model and demonstrating Organto's ability to operate effectively during the COVID-19 crisis.

Investor Webinar – Tuesday, March 31, 2020 at 11:00 AM EST

Steve Bromley, Chair and Interim CEO and Rients van der Wal, COO & CEO of Organto Europe B.V. will be participating in Adelaide Capital Investor Relations webinar series on Tuesday, March 31, 2020 at 11:00 am

[1] Forecast is based on shipping a variety of organic and conventional products including avocados, asparagus, mangoes and other products with an average sales price ranging from CDN$4-$11/kilo of sold product. We anticipate sourcing products from numerous suppliers and countries including, but not limited to, Morocco, Peru, Argentina, Zimbabwe and others.

EST to provide an update on European operations during the COVID-19 pandemic. After opening remarks there will be a question and answer period. The presentation for the webinar may be accessed on Organto's website at www.organto.com/investors/presentations. To register for this webinar, please click the following URL in advance: https://zoom.us/webinar/register/WN_YAOaLs1jQBamDIA1ybUGsg

ON BEHALF OF THE BOARD,

Steve Bromley
Chair and Interim Chief Executive Officer

Neither the 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 news release.

For more information contact:

Investor Relations
604-634-0970
1-888-818-1364
info@organto.com

ABOUT ORGANTO

Organto's business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people and its shareholders. The Organto Foods Group is an integrated provider of year-round value-added branded organic vegetables and seasonal organic and non-GMO fruit and vegetable products using an asset-light business model to serve a growing socially responsible and health conscious consumer around the globe.

FORWARD LOOKING STATEMENTS

This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). In particular, and without limitation, this news release contains forward-looking statements respecting Organto's business model and markets; Organto's ability to continue to manage operations remotely; Organto's belief that demand at European retail remains strong; Organto's belief that certain governments are focused on keeping food retail businesses and supply chains operational during the COVID-19 pandemic; Organto's belief that supply chain partners are continuing to operate and the Company is well positioned for the short and long-term; Organto's expectation that revenues in the first quarter of 2020 will be in the range of CDN $1.6 to CDN $1.65 million: management's beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto's business model will be implemented and product supply will be increased; cost increases; dependence on suppliers, partners and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors and partners. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.

SOURCE: Organto Foods Inc.

ReleaseID: 583184

LOS ANGELES, CA / ACCESSWIRE / March 30, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Align Technology, Inc. ("Align" or "the Company") (NASDAQ:ALGN) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Align announced its financial results for the second quarter of 2019 on July 24, 2019. The Company's results showed significantly declining sales volumes for its Invisalign product line and sharply reduced sales growth projections for the third quarter and full year of 2019. Align CEO Joseph M. Hogan admitted that the Company's falling sales were "primarily due to softness in China related to a tougher consumer environment." Based on this news, shares of Align dropped almost 27% on the next day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 583183

LOS ANGELES, CA / ACCESSWIRE / March 30, 2020 The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of XP Inc. ("XP" or "the Company") (NASDAQ:XP) for violations of the securities laws."

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Less than three months after XP's IPO, The Winkler Group published a research report about the Company raising significant questions about the accuracy of XP's financial reports. According to the report released on March 6, 2020, there are material differences between XP's internal audits and the financial statements provided to investors as part of its IPO materials. The report also alleges that "XP fired its auditor after the auditor found material weaknesses in its financial reporting." Based on that news, shares of XP traded down more than 13% on the same day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 583182

LOS ANGELES, CA / ACCESSWIRE / March 30, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of World Wrestling Entertainment, Inc. ("WWE" or "the Company") (NYSE:WWE) for violations of securities laws.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
The Schall Law Firm
Brian Schall, Esq.
424-303-1964
info@schallfirm.com
www.schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 583181

BOSTON, MA / ACCESSWIRE / March 30, 2020 / Thornton Law Firm alerts investors of a pending deadline in a lawsuit recently filed against Inovio Pharmaceuticals on behalf of Inovio investors (NASDAQ:INO). Shareholders who purchased at least 1,000 shares of INO stock between February 14, 2020 and March 9, 2020 are encouraged to visit https://www.tenlaw.com/cases/INO to learn more about the case and the pending lead plaintiff process. Shareholders may also contact the Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3917. There is no minimum number of shares required to be a class member.

FOR MORE INFORMATION, PLEASE VISIT https://www.tenlaw.com/cases/INO.

Interested INO shareholders have until May 12, 2020 to apply to be lead plaintiff. The lawsuit alleges violations of the federal securities laws, and the class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Complaint alleges that during the Class Period, Defendants capitalized on widespread COVID-19 fears by falsely claiming that Inovio Pharmaceuticals, Inc. had developed a vaccine for COVID-19. The suit alleges that on February 14, 2020, Inovio CEO J. Joseph Kim appeared on Fox Business News and stated that Inovio had developed a COVID-19 vaccine. It is alleged that two weeks later, following a well-publicized March 2, 2020 meeting with President Trump to discuss the COVID-19 outbreak, Defendant Kim again claimed that Inovio had developed a COVID-19 vaccine. The market allegedly responded favorably to Kim's statement, and Inovio's stock price more than quadrupled from $4.28 per share on February 28, 2020, and continued to increase in the following weeks, reaching an intra-day high of $19.36 on March 9, 2020.

The lawsuit alleges that Inovio had not developed a COVID-19 vaccine. The lawsuit states that on March 9, 2020, before trading commenced, Citron Research exposed Defendants' misstatements, calling for an SEC investigation into the Company's claim. In response, Inovio's stock price plummeted from its March 9 opening price of $18.72 per share to close at $9.83. The following day, March 10, 2020, Inovio's stock price fell from its $9.30 per share opening price to close at $5.70 per share.

If you have purchased at least 1,000 shares of INO stock (NASDAQ:INO), please contact the Thornton Law Firm's shareholder rights team at shareholder@tenlaw.com, or call 617-531-3917 to discuss the lead plaintiff process.

FOR MORE INFORMATION: https://www.tenlaw.com/cases/INO

Thornton Law Firm's securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:
Thornton Law Firm
State Street Financial Center
1 Lincoln St.
Boston, MA 02111
https://www.tenlaw.com/cases/INO

SOURCE: Thornton Law Firm LLP

ReleaseID: 583174

A Conference call is scheduled for Tuesday March 31st, 11:00am Eastern time, 8:00am Pacific Time
See dial in number and explanation below

VICTORIA, BC / ACCESSWIRE / March 30, 2020 / FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE Amex:FSI)(FRANKFURT:FXT), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces financial results for full year ended December 31, 2019.

Mr. Daniel B. O'Brien, CEO, states, "2019 was a positive year for the Company. Our acquisition and investment performed well as did our core business." Mr. O'Brien continues, "The spread of COVID-19 through the world economy will cause unknown disruption to our operations in 2020."

Sales for the Full Year were $27,440,110, up approximately 54% when compared to sales of $17,829,518 in the corresponding period a year ago. The financials show a Full Year, 2019 net profit of $1,912,392, or $0.16 per share, compared to a net income of $2,490,268, or $0.21 per share, in Full Year, 2018. Note: the financials do not take into account potential tariff rebates that are currently being applied for. The tariffs were charged on product remanufactured and shipped in 2019. Also, 2018 net income includes a "Gain from involuntary disposition" of $1,714,261 from an insurance payout. The payout resulted from a fire at the Company's Taber, Alberta facility.

Basic weighted average shares used in computing earnings per share amounts were 11,945,636 and 11,630,136 for full year, 2019 and full year, 2018 respectively..

Non-GAAP operating cash flow: For the 12 months ending December 31, 2019, net income reflects $866,708 of non-cash charges (depreciation, stock option expenses), as well as gain (loss) on disposition (and involuntary disposition) of equipment, gain on investment, interest expense, interest income, write down of inventory, income tax, and Net income attributable to non-controlling interests. These are items not related to operating or current operating activities. When these items are removed, the financials show operating cash flow of $2,818,040, or $0.24 per share. This compares with operating cash flow of $1,922,473, or $0.17 per share in the corresponding 12 months of 2018 (see the table that follows for details of these calculations).

The NanoChem division continues to be the dominant source of revenue and cash flow for the Company. New opportunities continue to unfold in detergent, water treatment, oil field extraction and agricultural use to further increase sales in this division.

Conference call

A conference call has been scheduled for 11:00 am Eastern Time, 8:00 am Pacific Time, on Tuesday March 31st . CEO, Dan O'Brien will be presenting and answering questions on the conference call. To participate in this call please dial 1 888-207-0293 (or 1 334-323-9869) just prior to the scheduled call time. To join the call participants will be requested to give their name then enter the participant code 798944. The conference call title is "Full Year 2019 Financials"

The above information and following table contain supplemental information regarding income and cash flow from operations for the period ended December 31, 2019. Adjustments to exclude depreciation, stock option expenses and one time charges are given. This financial information is a Non-GAAP financial measure as defined by SEC regulation G. The GAAP financial measure most directly comparable is net income. The reconciliation of each of the Non-GAAP financial measures is as follows:

FLEXIBLE SOLUTIONS INTERNATIONAL, INC.
Consolidated Statement of Operations
For 12 Months Ended December 31 (12 Months Operating Cash Flow)
(Unaudited)

 
12 months ended December 31
 

 
2019
 
 
2018
 

Revenue

 
$ 
27,440,110
 
 
$ 
17,829,518
 

Income (loss) before income tax – GAAP

 
$ 
2,314,621
 
 
$ 
3,054,847 a
 

Provision for Income tax – net – GAAP

 
$ 
(17,436
)
 
$ 
(633,130)
 

Net income (loss) – GAAP

 
$ 
1,912,392
 
 
$ 
2,490,268 a
 

Net income (loss) per common share – basic. – GAAP

 
$ 
0.16
 
 
$ 
0.21 a
 

12 month weighted average shares used in computing per share amounts – basic. – GAAP

 
 
11,945,636
 
 
 
11,630,136
 

 
 

12 month Operating Cash Flow
Ended December 31
 

Operating Cash Flow (12 months). NON-GAAP

 
$ 
2,818,040 b,c,d
 
 
$ 
1,922,981 b,c
 

Operating Cash Flow per share excluding non-operating items and items not related to current operations (12 months) – basic. NON-GAAP

 
$ 
0.24 b,c,d
 
 
$ 
0.17 b,c
 

Non-cash Adjustments (12 month) GAAP

 
$ 
866,708 e
 
 
$ 
453,753 e
 

Shares (12 month basic weighted average) used in computing per share amounts – basic GAAP

 
 
11,945,636
 
 
 
11,630,136
 

Notes: certain items not related to "operations" of the Company net income are listed below.

a) Non-GAAP – A "Gain on involuntary disposition" of $1,714,261 was the result of a fire that destroyed one of FSI's buildings located in Alberta, Canada. This is not income from operations.
b) Non-GAAP – Flexible Solutions International purchased 65% of ENP in 4th quarter, 2018 (October 2018). Therefore Operating Cash Flow is adjusted by the Net income or loss of the non-controlling interest in ENP.
c) Non-GAAP – amounts exclude certain cash and non-cash items: depreciation and stock compensation expense (2019 = $866,708, 2018 = $453,753), interest expense (2019 = $428,371, 2018 = $93,653), interest income (2019 = $80,731, 2018 = $36,843), gain on investment (2019 = $323,824, 2018 = $(3,281), gain on sale of equipment (2019 = $2,312, 2018 = $N/A), net gain/(loss) on involuntary disposition of equipment (2019 = N/A, 2018 = $1,714,261), write down of inventory (2019 = N/A, 2018 = N/A), deferred income tax recovery (expense) (2019 = $602,421, 2018 = ($100,000), Income tax (2019 = 619,857, 2018 = $533,130), and Net income attributable to non-controlling interests (2019 = $384,793, 2018 = ($68,551)). See the financial statements for all adjustments.
d) The revenue and gain from the 50% investment in the private Florida LLC announced in January 2019 is not treated as revenue or profit from operations by Flexible Solutions given the Company only purchased 50% of the LLC. The profit is treated as investment income and therefore occurs below Operating income in the Statement of Operations. As a result the 2019 $323,824 in gains from all investments, including that of the Florida LLC, are removed from the calculation to arrive at Operating Cash Flow. The $3,281 of investment loss for 2018 is also removed to arrive at operating cash flow for that year.
e) Non-GAAP – amounts represent depreciation and stock compensation expense.

Safe Harbor Provision

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Flexible Solutions International
6001 54th Ave, Taber, Alberta, CANADA T1G 1X4

Company Contacts

Jason Bloom
Toll Free: 800 661 3560
Fax: 403 223 2905
E-mail: info@flexiblesolutions.com

If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@flexiblesolutions.com

To find out more information about Flexible Solutions and our products, please visit www.flexiblesolutions.com.

SOURCE: Flexible Solutions International

ReleaseID: 583132

RICHMOND, VA / ACCESSWIRE / March 30, 2020 / Enterprise Diversified, Inc. (OTCQB:SYTE) ("ENDI" or the "Company") announced its financial results for the year ending December 31, 2019, in connection with filing its annual report on Form 10-K with the Securities and Exchange Commission.

A summary of our annual results for the Company's reportable segments can be found below. Our full report on the Form 10-K filing can be found at enterprisediversified.com.

Year Ended
December 31,
2019

Asset Management

Real Estate

Internet

Other

Discontinued Operations – Home Services

Consolidated

Revenues

$

1,773,276

$

537,763

$

1,066,229

$

212,631

$

–

$

3,589,899

Cost of revenue

–

485,459

330,654

–

–

816,113

Operating expenses

410,226

338,025

223,118

1,101,098

–

2,072,467

Other income (expense)

36,565

(4,712,766

)

10,169

96,551

–

(4,569,481

)

Income (loss) from continuing operations

1,399,615

(4,998,487

)

522,626

(791,916

)

–

(3,868,162

)

Income (loss) from discontinued operations

–

–

–

–

(1,510,475

)

(1,510,475

)

Identifiable assets

$

10,186,353

$

556,994

$

414,935

$

740,934

$

428

$

11,899,644

Asset Management Operations

Willow Oak Asset Management is the Company's primary focus. In 2019, Willow Oak successfully expanded its affiliations by entering into a new joint venture with Focused Compounding Capital Management, LLC. Willow Oak provides Fund Management Services (FMS) to the firm. Willow Oak holds a 10% ownership stake in Focused Compounding Capital Management and receives a 10% revenue share. Additionally, Willow Oak successfully supported and funded the launch of the firm's new private partnership, Focused Compounding Fund, LP, which began investing on January 1, 2020. This fund joins Alluvial Fund, Bonhoeffer Fund, and Arquitos Capital as the newest private investment offering on the Willow Oak platform.

Willow Oak's direct investment in Alluvial Fund is the primary driver of gains and losses in a given year. Additional revenue attributable to the subsidiary is generated by fee share arrangements with affiliated funds on the Willow Oak platform and fees earned from Willow Oak's FMS. A summary of revenue earned through asset management operations for the years ended December 31, 2019, and December 31, 2018, is included below:

Asset Management Operations Revenue

Year Ended
December 31, 2019

Year Ended
December 31, 2018

Realized and unrealized gains (losses) on investment activity

$

1,607,644

$

(834,014

)

Management and performance fee revenue

65,171

41,151

Fund management services revenue

100,461

17,614

Total revenue

$

1,773,276

$

(775,249

)

Real Estate Operations

The Company operates its real estate operations through EDI Real Estate, LLC, a wholly owned subsidiary, and, indirectly, through Mt Melrose, LLC, a formerly consolidated subsidiary. On June 27, 2019, the Company sold 65% of its membership interest in Mt Melrose to an unaffiliated third-party purchaser, Woodmont Lexington, LLC ("Woodmont"). As consideration for the transaction, Woodmont paid the Company $100,000 and agreed to assume full responsibility for the management and operation of Mt Melrose and its real estate portfolio. Upon completing the majority equity sale to Woodmont, the Company was able to deconsolidate approximately $6,427,000 of debt associated with the Mt Melrose portfolio. A significant portion of this debt was short-term, high-interest financing. In total, during the year ended December 31, 2019, total company notes payable decreased from $7,521,819 to $511,025.

On December 24, 2019, the Company completed the sale of a commercial warehouse space located in Lexington, Kentucky. The property was sold at its carrying value of $850,000.

Internet Operations

Sitestar.net provides consumer and business-grade internet access, services, and support to customers in the United States and Canada. The focus of our internet segment is to generate cash flow, continue to ensure our costs are variable, and reinvest in our operations when an acceptable return is available.

Other Operations

Other operations include nonrecurring or one-time strategic funding or similar activity and other corporate operations that are not considered to be one of the Company's primary lines of business. Corporate expenses reflected under other operations include expenses derived from corporate office operations, as well as expenses related to public company reporting, the oversight of subsidiaries, and other items that affect the overall Company.

Discontinued Operations

On May 24, 2019, the Company completed its divestiture of the home services operations to a third party. In the transaction, the Company sold and conveyed all of the subsidiary's personal property and customer lists and records, excluding stock inventory and other current assets. As part of the transaction, the buyer assumed the subsidiary's outstanding obligations, including both liabilities and service contracts. ENDI receives monthly royalties for the 60 months following the closing, calculated on the basis of any revenue received from the customer accounts transferred. The royalties earned as of December 31, 2019 total $21,629.

Enterprise Diversified's executive chairman, Steven Kiel, made the following statement:

"2019 was a year of transition for Enterprise Diversified. We have directed our attention to growing our Willow Oak Asset Management subsidiary. We have shed non-core assets. And we have eliminated nearly all of the debt on our balance sheet.

"Our board, management, and advisors deserve credit for supporting and carrying out this strategic shift to support the growth of our asset management operations. We are excited about our latest partnership with Focused Compounding and look forward to continuing to grow our affiliate network.

"The world is currently experiencing unprecedented issues due to COVID-19. Our daily operations remain unchanged. We have, however, had to cancel our annual investor event in Omaha scheduled for May 2nd but look forward to offering insights on our Willow Oak YouTube channel. Please subscribe at www.youtube.com/WillowOakAssetManagement for updates. The strength of both our company and the managers of our affiliated funds is our long-term focus, and we believe this will allow our partners to benefit from the current volatility.

"Each quarter over the past year, I have been writing an investor letter providing details on Willow Oak Asset Management. I encourage you to read these letters to gain more information on Willow Oak and how we think about the subsidiary. You may subscribe to the mailing list to receive these letters and other Willow Oak news by providing your email address at the following link: https://willowoakfunds.com/news-and-views."

About Enterprise Diversified, Inc.

Enterprise Diversified, Inc. is primarily focused on partnering with alternative asset managers, in addition to holding interests in companies associated with internet access, real estate, and home services. Copies of Enterprise Diversified's press releases and additional information about the company are available at https://www.enterprisediversified.com.

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. These statements are not guaranties of future performance, and actual results may differ materially from those forecasted.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending," and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections.

Contact:

Jessica Greer
(434) 336-7737
investorrelations@endi-inc.com

SOURCE: Enterprise Diversified, Inc.

ReleaseID: 583159

DENVER, CO / ACCESSWIRE / March 30, 2020 / Social Life Network, Inc. (OTCPINK:WDLF), announces today that it will reschedule their shareholder update call originally scheduled to take place on March 31st, to now be held on April 7th.

The shareholder update call was to include an update on their 2020 growth plans of MjLink.com, Inc., Social Life Network's wholly owned subsidiary, that filed a Form 1-A on February 12th, 2020. The ongoing delays with filings and review times related to the COVID-19 health crisis have pushed back important updates that were previously expected to be available by the company before the March 31st call.

The updated live shareholder call is scheduled for after the close of trading on Tuesday, April 7th, 2020, at 1:30 pm PT/4:30 pm ET and will be held by Ken Tapp, CEO of Social Life Network and MjLink.

Individuals interested in watching the live shareholder video presentation may do so by visiting www.SocialNetwork.ai on Tuesday, April 7th, 2020, at 1:30 pm PT/4:30 pm ET.

A recording of the video stream will be available on the Social Life Network website for those unable to watch the live stream, beginning April 7th at approximately 2:30 pm PT/5:30 pm ET.

About Social Life Network, Inc.

Social Life Network, Inc. is an artificial intelligence and blockchain-powered social network and e-commerce technology company based in Denver Colorado. Since the launch of the company in January of 2013, we have launched niche industry social networks to service the millions of business professionals and consumers in the residential real estate industry, the legal global cannabis and hemp industry, and many sports verticals including racket sports, soccer, hunting and fishing, worldwide. In January 2020, the combined user-ship of our niche social network exceeded 4 million monthly users.

For more information, visit: www.SocialNetwork.ai

About MjLink.com, Inc.

MjLink.com Inc. a wholly-owned subsidiary of Social Life Network, Inc. and is a cloud-based cannabis social network and digital media company based in Denver, Colorado. MjLink operates as a multinational cannabis technology and digital media organization with four industry-specific social networks: WeedLife.com, a consumer-to-consumer social network, MjLink.com, a business-to-business social network, HempTalk.com, a business-to-consumer social network, and MjInvest.com, a cannabis industry investor network that produces the MjMicro Capital Conference.

For more information about MjLink.com, Inc. and the recent 1-A filing with the SEC, go to: https://www.sec.gov/Archives/edgar/data/1794790/000149315220002146/partiiandiii.htm

Disclaimer

This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. No information in this press release should be construed as any indication whatsoever of the Company's or MjLink's future financial results, revenues or stock price. There are no assurances that the SEC will issue a Notice of Qualification with respect to MjLink's Form 1-A. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.

CONTACT:

Investor Relations
IR@Social-Life-Network.com
855-933-3277

SOURCE: Social Life Network, Inc. 

ReleaseID: 583175

HALIFAX, NS / ACCESSWIRE / March 30, 2020 / Namibia Critical Metals Inc. ("Namibia Critical Metals" or the "Company") (TSXV:NMI) today announced it intends to complete a non-brokered private placement in the amount of up to $350,000 consisting of units offered at a price of $0.12 per unit ("Private Placement") representing a 20% discount to the closing price of the common shares of the Company on March 27, 2020. Each unit will consist of one common share and one warrant. Each whole warrant will be exercisable for one common share at a price of $0.18 for a period of 18 months. A maximum of 5,833,333 common shares of Namibia Critical Metals will be issued pursuant to the Private Placement (assuming full exercise of all warrants). The Private Placement is subject to the approval of the TSX Venture Exchange ("TSXV").

The proceeds of the Private Placement will be used primarily to fund working capital and general corporate purposes. The common shares and warrants of the Company issued pursuant to the Private Placement will be subject to a four-month hold period.

About Namibia Critical Metals Inc.

Namibia Critical Metals holds a diversified portfolio of exploration and advanced stage projects in the country of Namibia focused on the development of sustainable and ethical sources of metals for the battery, electric vehicle and associated industries. The Company also has significant land positions in areas favourable for gold mineralization.

The Lofdal Heavy Rare Earth Project is the Company's most advanced project having completed a Preliminary Economic Assessment in 2014 and full Environmental Impact Assessment in 2017. An application has been made for a mining licence at Lofdal. The project is now in joint venture with JOGMEC who are funding the current $3,000,000 drilling and metallurgical program with the objective of doubling the resource size and optimization of the process flow sheet.

At the Erongo Gold Project, stratigraphic equivalents to the sediments hosting the recent Osino gold discovery at Twin Hills have been identified but not yet sampled. Detailed soil surveys are planned over this highly prospective area.

The Epembe Tantalum-Niobium Project is also at an advanced stage with a well-defined, 10 km long carbonatite dyke that has been delineated by detailed mapping with over 11,000 meters of drilling. Preliminary mineralogical and metallurgical studies including sorting tests (XRT), indicate the potential for significant physical upgrading. Further work will be undertaken to advance the project to a preliminary economic assessment stage.

The Kunene Cobalt-Copper Project comprises a very large area of favorable stratigraphy ("the DOF") along strike to the west of the Opuwo Co-Cu-Zn deposit. Secondary copper mineralization over a wide area points to preliminary evidence of a regional-scale hydrothermal system. Exploration targets on EPLs held in the Kunene project comprise direct extensions of the DOF style mineralization to the west, sediment-hosted cobalt and copper, orogenic copper, and stratabound Mn and Zn-Pb mineralization.

Earlier stage projects include the Grootfontein Project which has potential for magmatic Cu-Ni mineralization, Mississippi Valley-type Zn-Pb-V mineralization and Otjikoto-style gold mineralization.

The common shares of Namibia Critical Metals Inc. trade on the TSX Venture Exchange under the symbol "NMI".

Neither the 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.

For more information please contact –

Namibia Critical Metals Inc.

Don Burton, President
Tel: +01 (902) 835-8760
Fax: +01 (902) 835-8761
Email: Info@NamibiaCMI.com
Web site: www.NamibiaCriticalMetals.com

The foregoing information may contain forward-looking information relating to the future performance of Namibia Rare Earths Inc. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.

-30-

SOURCE: Namibia Critical Metals Inc.

ReleaseID: 583171

LIVINGSTON, NJ / ACCESSWIRE / March 30, 2020 / Milestone Scientific Inc. (NYSE American:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today provided a business update and announced financial results for the year ended December 31, 2019.

Leonard Osser, Interim Chief Executive Officer of Milestone Scientific, commented, "We have made significant strides in 2019 in order to commercialize our CompuFlo® Epidural System in 2020. During the year, we successfully trialed our CompuFlo® Epidural System in multiple hospitals and medical schools-placing the system with key opinion leaders, continuing important clinical studies and working with anesthesiologists in the U.S. and Europe. We also completed and published nine clinical studies, which further validated the CompuFlo® Epidural System's ability to safely and effectively identify the epidural space. Our unique, computer-controlled, real-time pressure-sensing technology provides anesthesiologists an objective and quantifiable technique to build confidence and success."

"We have begun speaking with Group Purchasing Organizations (GPO) in order to obtain approval of the CompuFlo® Epidural System within their facilities. The GPOs represent a sizable opportunity since some of these groups have hundreds of hospitals within their network. Once we get an approval, it should shorten the sales cycle and open us up to larger markets. Our studies thus far have shown significant reductions in epidural punctures and complication rates by using the CompuFlo® Epidural System. Studies have shown that our technology not only benefits patients but also should lower the cost associated with treating complications such as dural punctures."

"Turning to our dental business, we saw a decrease in sales, which was largely related to a decrease in sales to China. However, in the U.S., our exclusive distribution agreement with Henry Schein continues to pay off as the sales have been consistent throughout the year. Due to the current Covid-19 pandemic and the reduced hours and closings of dental offices throughout the country and the rest of the world, we anticipate that our revenue for the second quarter, and possibly the third quarter, may be affected. However, at this point in time it is too early to determine an estimate of what the second or third quarter impact will be, or the effect Covid-19 may have on our fourth quarter revenue."

"We continue to evolve and innovate our technology. In the beginning of 2020, we announced that we received a Notice of Allowance from the U.S. Patent and Trademark Office for a key patent on the CompuWave technology, which is being integrated into the CompuFlo® Epidural System. This advanced and breakthrough technology provides further verification of epidural placement and real-time notification of obstruction or displacement of a catheter. This patent provides IP protection around the CompuFlo instrument for another 20 years, which further enhances our position at the forefront of the computerized injection market. We remain encouraged by the outlook for our company and look forward to providing further updates as they unfold."

For the years ended December 31, 2019 and 2018, revenues were approximately $8.4 million and $9.6 million, respectively. Gross profit for the year ended December 31, 2019 was $5.7 million or 68% of revenue versus $4.4 million or 46% of revenue for the year ended December 31, 2018. During 2018, the Company recorded a reserve of approximately $1.2 million for the underlying inventory associated with deferred cost due to Milestone China's market under performance and liquidity constraints. Operating loss for the year ended December 31, 2019 was approximately $(3.9) million versus approximately $(7.9) million for the year ended December 31, 2018. Operating loss for 2018 included a $1.5 million impairment of long-lived assets related to non-core patents. In 2019, the Company incurred a non-cash expense of approximately $3.65 million due to the shares and warrants issued in the public and private offerings as well as other issuance of common stock during 2019 for which the Company did not have a sufficient number of authorized shares of common stock to cover the exercise and issuance of approximately 5,850,000 outstanding equity instruments. After the impact of the derivative liability, the net loss was approximately $(7.5) million, or $(0.16) per share for the year ended December 31, 2019, versus net loss of $(7.4) million, or $(0.21) per share, for the comparable period in 2018.

Conference Call

Milestone Scientific's executive management team will host a conference call at 8:30 AM Eastern Time on Tuesday, March 31, 2020 to discuss the Company's financial results for the full year ending December 31, 2019, as well as the Company's corporate progress and other developments.

The conference call will be available on the Company's website at www.milestonescientific.com, or via telephone by dialing toll free 877-407-0778 for U.S. callers, or +1 201-689-8565 for international callers. A webcast will also be archived on the Company's website and a telephone replay of the call will be available approximately one hour following the call, through Tuesday, April 14, 2020, and can be accessed by dialing 877-481-4010 for U.S. callers, or +1 919-882-2331 for international callers and entering the pass code 33928.

About Milestone Scientific Inc.

Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs and develops innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone's proprietary DPS Dynamic Pressure Sensing technology® is our technology platform that advances the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra-articular joint injections. For more information please visit our website: www.milestonescientific.com.

Safe Harbor Statement

This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2018. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
 

MILESTONE SCIENTIFIC AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

 
December 31, 2019
 
 
December 31, 2018
 

ASSETS

Current assets:

Cash and cash equivalents

 
$
1,516,272
 
 
$
743,429
 

Accounts receivable, net

 
 
1,710,665
 
 
 
1,978,456
 

Accounts receivable, related party, net

 
 
–
 
 
 
100,000
 

Prepaid expenses and other current assets

 
 
519,063
 
 
 
414,541
 

Deferred cost, related party

 
 
–
 
 
 
50,000
 

Inventories, net

 
 
1,620,509
 
 
 
1,921,051
 

Advances on contracts

 
 
710,662
 
 
 
648,783
 

Operating lease-right of use assets

 
 
15,977
 
 
 
–
 

Total current assets

 
 
6,093,148
 
 
 
5,856,260
 

Furniture, fixtures and equipment, net

 
 
44,976
 
 
 
82,557
 

Patents, net

 
 
382,260
 
 
 
435,273
 

Other assets

 
 
35,905
 
 
 
26,878
 

Total assets

 
$
6,556,289
 
 
$
6,400,968
 

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

 
$
1,379,425
 
 
$
1,059,186
 

Accounts payable, related party

 
 
1,358,752
 
 
 
1,810,058
 

Accrued expenses and other payables

 
 
775,055
 
 
 
794,918
 

Accrued expenses, related party

 
 
1,057,957
 
 
 
686,798
 

Operating lease liabilities

 
 
15,977
 
 
 
–
 

Deferred profit, related party

 
 
340,476
 
 
 
421,800
 

Deferred revenue, related party

 
 
–
 
 
 
100,000
 

Total current liabilities

 
 
4,927,642
 
 
 
4,872,760
 

Total liabilities

 
$
4,927,642
 
 
$
4,872,760
 

Commitments and contingencies

Stockholders' equity

Series A convertible preferred stock, par value $.001, authorized 5,000,000 shares, 0 and 7,000 shares issued and outstanding as of December 31, 2019 and 2018.

 
$
–
 
 
$
7
 

Common stock, par value $.001; authorized 75,000,000 shares; 49,410,176 shares issued and 49,376,843 shares outstanding as of December 31,2019; 33,859,034 shares issued, 2,470,565 shares to be issued, and 33,825,701 shares outstanding as of December 31, 2018;

 
 
49,410
 
 
 
36,330
 

Additional paid in capital

 
 
96,082,324
 
 
 
88,414,718
 

Accumulated deficit

 
 
(93,524,297
)
 
 
(85,999,929
)

Treasury stock, at cost, 33,333 shares

 
 
(911,516
)
 
 
(911,516
)

Total Milestone Scientific Inc. stockholders' equity

 
 
1,695,921
 
 
 
1,539,610
 

Noncontrolling interest

 
 
(67,274
)
 
 
(11,402
)

Total stockholders' equity

 
$
1,628,647
 
 
$
1,528,208
 

Total liabilities and stockholders' equity

 
$
6,556,289
 
 
$
6,400,968
 

MILESTONE SCIENTIFIC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
YEARS ENDED DECEMBER 31, 2019 AND 2018

 
2019
 
 
2018
 

Product sales, net

 
$
8,374,501
 
 
$
9,622,076
 

Cost of products sold

 
 
2,656,142
 
 
 
5,190,775
 

Gross profit

 
 
5,718,359
 
 
 
4,431,301
 

Selling, general and administrative expenses

 
 
9,527,429
 
 
 
10,645,206
 

Research and development expenses

 
 
189,923
 
 
 
245,636
 

Impairment of long -lived assets

 
 
–
 
 
 
1,539,794
 

Total operating expenses

 
 
9,717,352
 
 
 
12,430,636
 

Loss from operations

 
 
(3,998,993
)
 
 
(7,999,335
)

Other expenses

 
 
(10,408
)
 
 
(7,232
)

Interest income

 
 
1,543
 
 
 
7,447
 

Change in fair value of derivative liabilities

 
 
(3,635,580
)
 
 
–
 

Loss before provision for income taxes and net of equity investments

 
 
(7,643,438
)
 
 
(7,999,120
)

Provision for income taxes

 
 
(18,126
)
 
 
(23,986
)

Loss before equity in net earnings of equity investments

 
 
(7,661,564
)
 
 
(8,023,106
)

Earnings from Milestone Education

 
 
–
 
 
 
(1,635
)

Earnings from Milestone China

 
 
(81,324
)
 
 
(329,700
)

Net loss

 
 
(7,580,240
)
 
 
(7,691,771
)

Net loss attributable to noncontrolling interests

 
 
55,872
 
 
 
260,126
 

Net loss attributable to Milestone Scientific Inc.

 
 
(7,524,368
)
 
 
(7,431,645
)

Net loss per share applicable to common stockholders-

Basic

 
$
(0.16
)
 
$
(0.21
)

Diluted

 
$
(0.16
)
 
$
(0.21
)

Weighted average shares outstanding and to be issued-

Basic

 
 
45,740,050
 
 
 
35,299,034
 

Diluted

 
 
45,740,050
 
 
 
35,299,034
 

CONTACT:

David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020

SOURCE: Milestone Scientific Inc.

ReleaseID: 583162