MIAMI, FL / ACCESSWIRE / July 29, 2020 / The KMTG First Buyers Program provides families who have been paying rent for years with the option of purchasing their own homes within the states of Florida, New York and New Jersey.

In the state of Florida, home shoppers only get a company with this business model: it gives advice on the selection, remodeling and closing of the property, and looks for various financing options. KMTG has an allied loan entity, which owns its services within its offices in the city of Doral, in order to facilitate the process and speed up the transaction.

"In order for you to be able to opt for a mortgage loan, you must have at least a 5% down payment, and it is no secret to anyone that there are many families who do not have that amount to be able to do so," assures the vice-president of KMTG, Al Santiago. Given this premise and understanding the needs of the communities, he puts himself in their shoes and awards $5,000 to those who meet the selection requirements. However, Santiago also commented that he guides his clients in how to apply in their respective counties for financial aid to fulfill the dream of obtaining their home.

According to the latest study by the Florida Housing Finance Corporation, 24% of people who rent a home are elderly and disabled. Likewise, the report informs that most of them are active in the workforce and receiving a low income for their services provided.

Under this scenario, Santiago joins the dozens of entrepreneurs who have decided to contribute in this quarantine season, helping Hispanic families secure their future and a roof for their dependents. Today, despite the crisis generated by COVID-19, the real estate market has been active, secure and constantly growing. For this reason, Santiago calls on community members in the state of Florida to work to buy their homes, instead of paying rent that, in the end, will not leave them an asset.

A total of 22 families have managed to obtain their homes through KMTG since the end of 2019. KMTG can guide renters to find their mortgage solution in the states of New York, New Jersey and Florida.

Media Contact:
Name: Alpha Entertainment Services – Priscilla Rojas
Email: priscillarojas@alphaentertainmentweb.com
Telephone: 407-790-5374

Related Images

Related Links

KMTG Invest Web Page

KMTG Invest IG

SOURCE: KMTG Invest

ReleaseID: 599499

VANCOUVER, BC / ACCESSWIRE / July 29, 2020 / Bitterroot Resources Ltd.'s (TSXV:BTT) US subsidiary ("Bitterroot") has entered into a mining lease, with an option to purchase, with Geological Services, Inc. ("GSI") on the 31-claim Coyote Sinter gold/silver project in Elko County, Nevada.

The Coyote Sinter property is located 9 kilometres east of the historic Tuscarora mining district, on the southern edge of the Jerritt Canyon (Independence) Mining District. The property hosts a fully-preserved low sulfidation epithermal (hot spring) system, with outcropping silica sinter, which defines the original paleosurface. Geochemical surveys of soil and rock chips across the sinter area host highly anomalous antimony, mercury, gold and arsenic. Four shallow angle holes drilled by Chevron Minerals in the 1980's confirmed the favourable epithermal geochemical signature. The Chevron holes were not drilled deep enough to test the high-grade precious metals-bearing zones at the optimal depth, which is estimated to be 200 to 400 meters below the current surface.

The Coyote Sinter claims are located on Federal (BLM-administered) lands. Initial low-cost field work will include an expanded soil survey, alteration mapping and ground geophysics to define further targets beneath the outcropping sinter. Core drilling to test below the historic Chevron drill holes is planned for the fall of 2020.

In order to maintain the lease and option to purchase, and subject to the approval of the TSX Venture Exchange (TSX-V), Bitterroot is required to make the following advance minimum royalty (AMR) payments and share issuances to GSI;

(i) $10,000 (paid) and the issuance of 100,000 common shares in the capital of Bitterroot within 10 days of the TSX-V Acceptance Date;

(ii) $10,000 on the 6-month anniversary of the Acceptance Date;

(iii) $30,000 and the issuance of 100,000 common shares in the capital of Bitterroot on or before the first annual anniversary of the Acceptance Date;

(iv) $40,000 and the issuance of 50,000 common shares in the capital of Bitterroot on or before the second annual anniversary of the Acceptance Date;

(v) $60,000 and the issuance of 50,000 common shares in the capital of Bitterroot on or before the third annual anniversary of the Acceptance Date;

(vi) $100,000 on or before the fourth annual anniversary of the Acceptance Date;

(vii) $125,000 on or before the fifth annual anniversary of the Acceptance Date;

(viii) $125,000 on or before each annual anniversary of the Acceptance Date after the fifth anniversary as long as the Agreement remains in effect, adjusted for inflation from that date.

At any time while the Agreement remains in effect, Bitterroot has the exclusive right and option to purchase the Coyote Sinter property from GSI by paying two million dollars ($2,000,000), less the sum of all AMR payments already paid to GSI, up to the date of exercise.

GSI will retain a two (2) percent net smelter returns (NSR) royalty, less previous AMR payments, on the Coyote sinter property and on any Bitterroot-located federal mining claims within a one (1)-mile area of interest (AOI). Bitterroot has the option to purchase half (1%) of the 2% NSR for $2,000,000. GSI will also retain a one (1) percent NSR royalty on any mineral rights acquired from 3rd parties within the AOI. Bitterroot has the option to purchase half (0.5%) of this 1% NSR for $500,000. The royalty purchase options are exercisable at any time prior to commercial production.

Bitterroot's technical advisor, Mr. Rick Streiff, CPG, stated "the Coyote Sinter property hosts a highly prospective, well-preserved epithermal system, which has never been tested at the appropriate levels for bonanza-grade gold/silver mineralization".

Rick Streiff, CPG, is the Qualified Person responsible for the technical content of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael S. Carr
Director

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

FORWARD LOOKING STATEMENTS: Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws. For such forward-looking statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.

CONTACT:

604-922-1351
www.bitterrootresources.com

SOURCE: Bitterroot Resources Ltd.

ReleaseID: 599493

ROCK HILL, SC / ACCESSWIRE / July 29, 2020 / The Form 2290 deadline is August 31, and trucking industry professionals are preparing to renew their Schedule 1 for the 2020-21 tax year.

Form 2290 is a requirement for owners of heavy vehicles weighing 55,000 pounds or more. Failure to file can result in financial damage and heavy IRS penalties.

The IRS uses Form 2290 to calculate the Heavy Vehicle Use Tax (HVUT). For commercial vehicles that travel 5,000 miles a year–or 75,000 miles for agricultural vehicles–this is a mandatory yearly tax payment.

ExpressE-file is a software solution from SPAN Enterprises that meets busy trucking professionals with straightforward e-filing technology. Truckers can e-file Form 2290, pay their HVUT online, and receive their IRS stamped Schedule 1 in minutes. At $6.90, ExpressE-file also offers the lowest price in the industry.

"We've been in the game for 10 years, perfecting tax filing and making it easy for truck owners," said Agie Sundaram, CEO of SPAN Enterprises. "This is the most high-quality product for the lowest price. It's built for truckers who take their business seriously and want to take care of it themselves."

ExpressE-file walks clients through Form 2290, prompting them to enter the correct information for each data-entry field. After the return is complete, the software runs an internal audit to check for errors.

The IRS recommends e-filing as the best way for truck owners to get their Schedule 1 instantly. Filers can download and print their Stamped Schedule 1, or request ExpressE-file to mail them a hard copy, as proof of their HVUT payment.

Truckers can meet their August 31 HVUT Form 2290 deadline at https://www.expressefile.com/.

About SPAN Enterprises:

Founded in 2009, by Naga Palanisamy & Agie Sundaram, SPAN Enterprises leads the market in producing software solutions and mobile applications for truck taxes and trucking business management. The company's mission is to create innovative software solutions for small businesses and the trucking industry. SPAN Enterprises serves thousands of clients all across the nation from their office in Rock Hill, SC. SPAN Enterprises has been named on the Inc 5000, Charlotte Fast 50, and SmartCEO Future 50. For more information about SPAN Enterprises, visit its website at https://www.spanenterprises.com/.

Contact:

Gabrielle Girard | Marketing
support@Expressefile.com

SOURCE: SPAN Enterprises

ReleaseID: 599478

NEW BEDFORD, MA / ACCESSWIRE / July 29, 2020 / The Atlantic menhaden fishery leaves 99.5 percent of a menhaden year class in the water to serve its ecological role as forage, according to a new review from Dr. Steve Cadrin of the University of Massachusetts Dartmouth. This finding is one of many indicators that menhaden is a healthy and sustainable resource, according to the review.

"Determining whether or not menhaden is fulfilling its role in the ecosystem has been at the heart of recent debates around menhaden management," said Dr. Cadrin. "A review of all the available data from the most recent peer-reviewed stock assessment clearly shows that menhaden are conservatively managed and already successful in meeting ecosystem needs."

The review comes at the request of the National Science Foundation's Science Center for Marine Fisheries (SCEMFIS). Dr. Cadrin, a professor of fisheries oceanography and former president of the American Institute of Fishery Research Biologists, previously conducted a review of the Atlantic States Marine Fisheries Commission's (ASMFC) most recent menhaden stock assessment in February.

The findings are available in time for the ASMFC's August 2020 meeting, where the Commission is set to decide whether to adopt ecological reference points and begin the process of setting catch limits for menhaden in 2021. Necessary for that discussion is determining how well menhaden management is currently meeting ecological objectives. According to Dr. Cadrin's review, current management meets these objectives, with most menhaden left in the water to serve their ecological role.

According to the review, only a small portion of the menhaden population is actually removed by the fishery, "leaving an abundance of menhaden for forage." Analyzing population and harvest numbers from 2008-2017, Dr. Cadrin found that "the menhaden fishery harvested an average of less than one percent of the total menhaden population, with the remaining percent of the menhaden stock left in the ocean to serve as food for predators and other species."

Looking deeper into menhaden age statistics, the review noted that the fishery primarily harvests age 2-3 menhaden. This means that younger menhaden, which are more frequently targeted as forage by predator species, and older menhaden, which are the part of the population that are the most fertile spawners, saw even less fishing pressure.

The review found other positive indicators for menhaden as well. Based on the latest, most up-to-date version of the menhaden stock assessment, menhaden biomass is near historic highs, as is fecundity, which measures the number of eggs produced and is a key metric of whether the stock is able to sustain itself. In addition, fishing mortality is significantly lower than it has been in the past. These indicators are all within ranges that signify a healthy and sustainably managed resource.

Read the full report here

About SCEMFIS
SCEMFIS utilizes academic and fisheries resources to address urgent scientific problems limiting sustainable fisheries. SCEMFIS develops methods, analytical and survey tools, datasets, and analytical approaches to improve sustainability of fisheries and reduce uncertainty in biomass estimates. SCEMFIS university partners, University of Southern Mississippi (lead institution), and Virginia Institute of Marine Science, College of William and Mary, are the academic sites. Collaborating scientists who provide specific expertise in finfish, shellfish, and marine mammal research, come from a wide range of academic institutions including Old Dominion University, Rutgers University, University of Massachusetts-Dartmouth, University of Maryland, and University of Rhode Island.

The need for the diverse services that SCEMFIS can provide to industry continues to grow, which has prompted a steady increase in the number of fishing industry partners. These services include immediate access to science expertise for stock assessment issues, rapid response to research priorities, and representation on stock assessment working groups. Targeted research leads to improvements in data collection, survey design, analytical tools, assessment models, and other needs to reduce uncertainty in stock status and improve reference point goals.

PRESS CONTACT
Stove Boat Communications
202-844-2502
john@stoveboat.com

SOURCE: Omega Protein

ReleaseID: 599468

NEW YORK, NY / ACCESSWIRE / July 29, 2020 / Ms. Tiffaney Williams runs Exclusive Solutions, a financial and credit services firm that focuses on repairing, restoring, and rebuilding credit. When she was younger, she had to overcome many obstacles, such as depression, anxiety, and lack of financial education. Today, she is helping others learn how they can change their lives.

Tiffaney provides services to people who do not know how to manage their credit and finances, who want to build their credit and businesses and increase their knowledge and income.

No one teaches you how to balance your checkbook, compound your money, build your business credit, or build the life you really desire. Exclusive Solutions is here to change that. Their mission is to repair, restore, rebuild, and educate.

"We repair personal credit, incorporate businesses, build business credit, accounting services, and financial counseling for small business owners. I teach individuals and business owners how to create wealth through the accumulation of assets and wealth-building strategies." Tiffaney explained.

Tiffaney is from Detroit's Eastside. She grew up with big dreams and goals. She always wanted to be so much more than her circumstances and environment. Since she was a child, Tiffaney has survived every hardship in her way.

"I fought depression and anxiety…I survived that. I was raped…I survived that. I attempted suicide…I survived that! I was addicted to prescription drugs… I survived that. I was abused and the abuser…I survived that. What makes me unique? I don't fit into this bubble that was created of how the world expects me to be. I am a natural leader, I set my own bar, I don't allow anyone to set it for me. I'm not the look, style, or personality that people think my industry leaders are supposed to be. But yet I made it to the 5 %er's %er's club." Tiffaney shares.

Besides this, Tiffaney also struggled with dyslexia and was an average student. But this did not stop her from growing her career and businesses and publishing over a dozen e-books and changing her circumstances. Many people get trapped in the cycle of poverty, but she was fortunate to break that cycle.

"I was a young girl from the Eastside of Detroit with big dreams, goals, and drive to be more, see more and do more than where I came from. I am the voice of the voiceless. What I do goes beyond the services I offer. I am a mentor, coach, confidant, educator, friend, and financial strategist." Tiffaney recounts.

The motivation through it all was Tiffaney's family and the fact that in 2008, she had to declare bankruptcy because she did not know better–she was not financially literate and had no credit education.

"My motivation was my family and I. I knew I needed to produce better and be better to help those around me and to build a legacy for my family. I didn't come from a rich family, but I knew I wanted more than the average life had to offer me. In 2008 I had terrible credit, I filed for bankruptcy, and my life came to a standstill. Everyone around me was just like me. They lacked financial knowledge and credit education, no one knew about assets other than work a job, obtain 401k, and retire when you can. That didn't sound good to me, I knew I couldn't continue my life in those footsteps." Tiffaney comments.

In order to move on, Tiffaney started to educate herself on credit and financials. She took asset protection classes, credit education classes, and credit law, to name a few. This allowed her to become more valuable to the market and her target audience.

"I took training courses to obtain certifications in many financial areas. I found mentors and coaches who were exactly where I wanted to be. I learned economics, and the credit education systems of implementation to be not only successful but an expert in my area of expertise. I paid my way so I could pave the way, greatness costs. I received the tools I needed and executed with them so I could become the woman I am today." Tiffaney says.

It was after dominating the world of financials and credit that Tiffaney learned how to help others with their own financials and credit. Through Exclusive Solutions, she began to give back to communities by providing financial and credit education services.

Today, Tiffaney is focused on helping those who are in prisons and are in need of rehabilitation before getting back to the real world again.

"My goal is to return to women's prisons and juvenile facilities to educate, impact, and build them back up to love themselves and see their value and purpose in this world. I want to expand my non-profit organization, ''The Lions Ladies of Triumph.' I am also building my credit business to give people an opportunity to own, operate, and create multiple income streams by being a subsidiary of Exclusive Solutions. I am launching my own Gold, Platinum, and Diamond Vault' business development training program, where I will expand my training to assist more business owners to produce multiple six-figure incomes all over the US. I will be re-launching my personal memoir of my entire life." Tiffaney shares.

Find out more about Ms. Tiffaney Williams here.

CONTACT:
Paula Henderson
646-736-2071
phendersonnews@gmail.com

About VIP Media Group:
VIP Media Group is a hybrid PR agency. Their diverse client base includes top-class entrepreneurs, public figures, influencers, and celebrities.

SOURCE: VIP Media Group

ReleaseID: 599455

SACRAMENTO, CA / ACCESSWIRE / July 29, 2020 / Trifecta, the nation's largest organic meal delivery service, is excited to announce their new partnership with EXOS, a leader in the field of human performance.

With meal delivery services more popular and necessary than ever, consumers are looking for healthy options to meet their nutrition needs. EXOS and Trifecta share the goal of helping individuals perform at their best, and this partnership will ensure that all EXOS clients have access to great food that fits their needs.

"Trifecta is best-in-class in creating, producing, and delivering meals to help individuals meet their performance goals," says Amanda Carlson-Phillips, Vice President of Strategic Partnerships and Insights at EXOS. "This is just the beginning of a collaboration that in time will deepen as we aim to help as many people as possible fuel and nourish their body in a way that not only helps them to achieve their goals but plays a key role in helping them feel great physically and mentally day in and day out."

EXOS has a long history of helping everyone from elite athletes to Fortune 100 corporate employees and youth athletes understand the science of nutrition and how to improve their fueling strategy to accelerate their physical and mental goals.

Now with Trifecta, EXOS clients will be able to get food that's more than just healthy; it's customized to provide the most efficient and effective way to get the most out of each meal. Plus, Trifecta eliminates shopping, cooking, and cleaning, so it's more convenient than ever.

"EXOS has worked with leading global companies and the military to create a cohesive, strategic, and most importantly, evidence-based approach to using food as a cornerstone to support health and performance," says Trifecta CEO and Co-Founder, Greg Connolly. "We look forward to helping everyone fuel their bodies in the best way possible using our shared nutrition philosophy."

Providing Americans with healthy, safe, and affordable food options while they face empty grocery stores and closed restaurants during COVID-19, Trifecta offers meals in six categories to meet everyone's needs including keto, paleo, vegan, vegetarian, clean eating, and classic. In addition, Trifecta offers an a la carte section that operates as an online grocery store deli.

Trifecta ships tens of millions of meals per year and uses the highest quality food in the industry that is USDA organic, gluten, dairy-free, and soy-free ingredients, are never frozen, and wild-caught and grass-fed. All of their food arrives fresh in a refrigerated case, vacuum-sealed, and ready to eat.

###

About EXOS
EXOS is a leader in the field of human performance, a category it created more than 20 years ago. Today, EXOS employs more than 4,500 people in over 600 locations worldwide. With award-winning facilities, technology, and services, EXOS connects people to the solutions they need and provides individualized plans based on time-tested fundamentals and research in order to help people take control of their health and performance. EXOS is trusted by hundreds of clients including leaders in business, health care and community organizations, and world champions in sports. To learn more, visit www.teamexos.com.

About Trifecta
Trifecta is the nation's largest organic meal delivery service founded with a bold mission – to get America back into shape. Eliminating shopping, cooking, and cleaning by delivering fully cooked meals directly to customers' doors in all 50 states, Trifecta's food is the highest quality in the industry and uses USDA Organic, Gluten, Dairy and Soy-Free ingredients that are never frozen, and Wild-Caught/Grass Fed. All their food arrives in a refrigerated case, vacuum-sealed, and ready to eat. Trifecta offers meals in six categories to meet everyone's needs including Keto, Paleo, Vegan, Vegetarian, Clean Eating and Classic Meal, and an A La Carte section that operates as an online grocery store deli. Trifecta is the Official Meal Delivery Partner of the UFC and the PGA TOUR, PGA TOUR Champions, and Web.com Tour is a Title Sponsor of Joe Weider's Olympia Fitness & Expo Weekend, Team USA Weightlifting and the CrossFit Games. Their app "Trifecta – Fitness, Nutrition and Tracking" is the first all-in-one solution for people to track their food and performance right from their smartphones utilizing Trifecta's food database of 6+ million food items. For more information on Trifecta, visit trifectanutrition.com, download their nutrition app at www.trifectanutrition.com/app, and follow them at facebook.com/trifecta meals, @trifectasystem on Instagram and Twitter, or subscribe to them on YouTube at Trifecta.

Press Contacts:
Trifecta
Natalie Mikolich
561-451-5015
natalie@elementmagency.com

SOURCE: Trifecta

ReleaseID: 599361

JACKSONVILLE, FL / ACCESSWIRE / July 29, 2020 / Patriot Transportation Holding, Inc. (NASDAQ:PATI):

Third Quarter Operating Results

The Company reported net income of $573,000, or $.17 per share, compared to $396,000, or $.12 per share, in the same quarter last year.

Transportation revenues (excluding fuel surcharges) were $18,032,000, down $6,875,000 due to lower miles versus the same quarter last year. Revenue miles were down 2,775,000 miles, or 31.0%, over the same quarter last year primarily due to the COVID-19 pandemic, the downsizing of certain customer business due to inadequate freight rates earlier this fiscal year, and the closure of our Wilmington terminal on April 25, 2020. Transportation revenue per mile was up $.14, or 5.0%, which has helped to offset the negative impact of fewer miles. Fuel surcharge revenue was down $1,640,000, or $.13 per mile, from the same quarter last year.

Compensation and benefits decreased $3,410,000, mainly due to lower company miles and reduced driver training expense. Gross fuel expense decreased $2,250,000, or $.17 per mile, due to lower company miles and lower cost per gallon. Repair and tire expense decreased $719,000, or $.02 per mile, due to lower miles this quarter and several high dollar repairs in the 3rd quarter last year. Insurance and losses decreased $768,000, or $.02 per mile, primarily due to favorable closure of prior year worker's compensation claims, lower health care claims, favorable results on prior and current year auto liability claims and lower wreck repair costs. Depreciation expense was down $161,000 in the quarter as we continue to adjust our fleet size to meet our business levels. Gain on disposition of assets was $224,000 this quarter versus a loss of $115,000 in the same quarter last year due primarily to a loss from a single vehicle rollover accident during the same quarter last year.

As a result, operating profit this quarter was $794,000, compared to $423,000 in the same quarter last year. Operating ratio was 95.8 this quarter versus 98.5 in the same quarter last year.

First Nine Months Operating Results for Fiscal year 2020

The Company reported a net loss of ($292,000), or ($.09) per share, compared to net income of $1,569,000, or $.47 per share, in the same period last year. Net income in the first nine months of 2019 included $634,000, or $.19 per share, from gains on real estate sales.

Transportation revenues (excluding fuel surcharges) were $62,191,000, down $12,233,000 on 5,657,000 fewer miles primarily due to the COVID-19 pandemic, the downsizing of certain customer business due to freight rates earlier this fiscal year, and the closure of our Charlotte terminal in May, 2019 and our Wilmington terminal on April 25, 2020. Transportation revenue per mile was up $.15 per mile, or 5.5%, due to increased freight rates which has helped to offset the negative impact of fewer miles. Fuel surcharge revenue was $5,156,000, down $3,008,000, or $.06 per mile, from the same period last year.

Compensation and benefits decreased $5,921,000 mainly due to lower company miles and lower driver training expense. Gross fuel expenses decreased $4,121,000, or $.07 per mile, due to lower company miles and lower cost per gallon. Repair and tire expense decreased $1,068,000 due to reduced miles in the first nine months of this year. Insurance and losses decreased $388,000, but were up $.05 per mile, primarily due to higher health claims in the first six months of this fiscal year. Gain on disposition of assets was $674,000 this period versus $1,441,000 in the same period last year which included a gain of $866,000 on the sale of a prior terminal site in Ocoee, Florida and a gain of $231,000 on the insurance settlement for hurricane damages sustained at our Panama City, Florida location.

As a result, operating loss was ($518,000) compared to operating profit of $1,823,000 in the same period last year. Operating ratio was 100.8 in the first nine months versus 97.8 in the same period last year.

Impact of the COVID-19 Pandemic

The COVID-19 pandemic continues to have an impact on demand for oil and petroleum products. Volume declines due to COVID-19 vary by market but management estimates the range to be ~10-25% down across our network. As an essential business, we have continued to operate throughout the pandemic in accordance with CDC guidance and orders issued by state and local authorities. We anticipate the impacts from social distancing, work/school from home programs and any continued mandatory business closures or reduced patron occupancy levels will adversely affect petroleum sales and therefore the demand for our services as long as they remain in place.

Summary and Outlook

Prior to the outbreak of the COVID-19 pandemic, Management was encouraged about the rate environment. Our intent was to continue to push rates higher to offset the rising costs associated with the on-going driver shortage and rising risk insurance premiums while exiting customer relationships that did not allow us to earn an acceptable profit on our services. During the 1st quarter, the Company renegotiated one of our largest customer contracts resulting in the Company turning back ~$3.5M of annualized revenue on marginally rated business while receiving a ~4.5% rate increase on a substantially larger volume of business we retained. Those rate increases were fully in effect as of February 1, 2020. We also walked away from some smaller accounts due to freight rates. As a result, we had capacity in our system as we headed into the typically busier spring and summer months and were heavily focusing our sales efforts to gain meaningful volume with customers with whom we felt we could partner. We were starting to see success on new revenue gains and operating results in early March until the outbreak of COVID-19.

Beginning in late March, due to impacts from COVID-19, our focus shifted to managing the business through the crisis, dealing with reduced volumes and controlling costs. We experienced a very difficult April due to significantly reduced volumes. Volumes improved incrementally during May and June but still remained below our pre-COVID-19 expectations throughout the quarter. The many steps we took to reduce costs early on in the quarter, coupled with strong insurance results and some gains from equipment sales, allowed us to make a profit during the quarter. Some of the expense reductions related to reduced hours for certain employees, the inability for many of our employees to travel overnight and lower costs associated with hiring and training drivers will increase as the impacts from COVID-19 subside. However, we are intent on minimizing those cost increases as we move forward.

Our balance sheet remains solid with $13.6 million of cash and cash equivalents as of June 30, 2020, versus $11.3 million on March 31, 2020, and no outstanding debt. We did not order any new equipment during the quarter and will not order additional equipment during the remainder of this fiscal year which reduces our planned capital outlay by ~$3.5 million for the fiscal year. Today, we are continuing to manage through the day to day impacts of the virus but are also refocusing our efforts back to growing our business with both new and existing customers with whom we feel can partner long term.

Conference Call

The Company will host a conference call on July 29, 2020 at 3:00 PM (EDT). Analysts, shareholders and other interested parties may access the teleconference live by calling 1-877-407-0778 domestic or international at 1-201-689-8565. Computer audio live streaming is available via the Internet through the Company's website at www.patriottrans.com at the Investor Relations tab or https://www.webcaster4.com/Webcast/Page/2058/35687. An audio replay will be available for sixty (60) days following the conference call by dialing toll free 1-877-481-4010 domestic or international 1-919-882-2331 then enter pass code 35687. An audio archive can be accessed through the Company's website at www.patriottrans.com on the Investor Relations tab or at https://www.webcaster4.com/Webcast/Page/2058/35687.

Investors are cautioned that any statements in this press release which relate to the future are, by their nature, subject to risks and uncertainties that could cause actual results and events to differ materially from those indicated in such forward-looking statements. These include the impact of the COVID-19 pandemic on our revenues, operations and financial condition; general economic conditions; competitive factors; political, economic, regulatory and climatic conditions; driver availability and cost; the impact of future regulations regarding the transportation industry; freight demand for petroleum product and levels of construction activity in the Company's markets; fuel costs; risk insurance markets; pricing; energy costs and technological changes. Additional information regarding these and other risk factors and uncertainties may be found in the Company's filings with the Securities and Exchange Commission.

Patriot Transportation Holding, Inc. is engaged in the transportation business. The Company's transportation business is conducted through Florida Rock & Tank Lines, Inc. which is a Southeastern transportation company engaged in the hauling of liquid and dry bulk commodities.

PATRIOT TRANSPORTATION HOLDING, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In thousands)
(Unaudited)

 
THREE MONTHS ENDED
 
 
NINE MONTHS ENDED
 

 
JUNE 30,
 
 
JUNE 30,
 

 
2020
 
 
2019
 
 
2020
 
 
2019
 

Revenues:

Transportation revenues

 
$
18,032
 
 
 
24,907
 
 
$
62,191
 
 
 
74,424
 

Fuel surcharges

 
 
979
 
 
 
2,619
 
 
 
5,156
 
 
 
8,164
 

Total revenues

 
 
19,011
 
 
 
27,526
 
 
 
67,347
 
 
 
82,588
 

Cost of operations:

Compensation and benefits

 
 
8,575
 
 
 
11,985
 
 
 
29,954
 
 
 
35,875
 

Fuel expenses

 
 
1,738
 
 
 
3,988
 
 
 
8,147
 
 
 
12,268
 

Repairs & tires

 
 
1,182
 
 
 
1,901
 
 
 
4,504
 
 
 
5,572
 

Other operating

 
 
768
 
 
 
1,189
 
 
 
2,699
 
 
 
3,510
 

Insurance and losses

 
 
1,443
 
 
 
2,211
 
 
 
6,767
 
 
 
7,155
 

Depreciation expense

 
 
1,815
 
 
 
1,976
 
 
 
5,604
 
 
 
5,922
 

Rents, tags & utilities

 
 
719
 
 
 
833
 
 
 
2,222
 
 
 
2,571
 

Sales, general & administrative

 
 
1,839
 
 
 
2,479
 
 
 
6,929
 
 
 
7,508
 

Corporate expenses

 
 
362
 
 
 
426
 
 
 
1,713
 
 
 
1,825
 

Loss (gain) on disposition of PP&E

 
 
(224
)
 
 
115
 
 
 
(674
)
 
 
(1,441
)

Total cost of operations

 
 
18,217
 
 
 
27,103
 
 
 
67,865
 
 
 
80,765
 

Total operating profit (loss)

 
 
794
 
 
 
423
 
 
 
(518
)
 
 
1,823
 

Interest income and other

 
 
4
 
 
 
116
 
 
 
131
 
 
 
330
 

Interest expense

 
 
(8
)
 
 
(8
)
 
 
(23
)
 
 
(25
)

Income (loss) before income taxes

 
 
790
 
 
 
531
 
 
 
(410
)
 
 
2,128
 

Provision for (benefit from) income taxes

 
 
217
 
 
 
135
 
 
 
(118
)
 
 
559
 

Net income (Loss)

 
$
573
 
 
 
396
 
 
$
(292
)
 
 
1,569
 

Unrealized investment gains, net

 
 
–
 
 
 
7
 
 
 
–
 
 
 
19
 

Reclassification adjust for net investment gains realized in net income

 
 
–
 
 
 
–
 
 
 
(5
)
 
 
–
 

Comprehensive income (loss)

 
$
573
 
 
 
403
 
 
$
(297
)
 
 
1,588
 

Earnings per common share:

Net Income (loss) –

Basic

 
$
0.17
 
 
 
0.12
 
 
 
(0.09
)
 
 
0.47
 

Diluted

 
$
0.17
 
 
 
0.12
 
 
 
(0.09
)
 
 
0.47
 

Number of shares (in thousands) used in computing:
 
 
 
 
 
 

-basic earnings per common share

 
 
3,377
 
 
 
3,347
 
 
 
3,366
 
 
 
3,339
 

-diluted earnings per common share

 
 
3,377
 
 
 
3,348
 
 
 
3,366
 
 
 
3,340
 

PATRIOT TRANSPORTATION HOLDING, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

 
June 30,
 
 
September 30,
 

Assets

 
2020
 
 
2019
 

Current assets:

Cash and cash equivalents

 
$
13,646
 
 
 
21,216
 

Accounts receivable (net of allowance for

doubtful accounts of $93 and $133, respectively)

 
 
5,188
 
 
 
6,588
 

Federal and state taxes receivable

 
 
–
 
 
 
290
 

Inventory of parts and supplies

 
 
801
 
 
 
949
 

Prepaid tires on equipment

 
 
1,431
 
 
 
1,616
 

Prepaid taxes and licenses

 
 
156
 
 
 
536
 

Prepaid insurance

 
 
1,578
 
 
 
2,895
 

Prepaid expenses, other

 
 
315
 
 
 
334
 

Total current assets

 
 
23,115
 
 
 
34,424
 

Property and equipment, at cost

 
 
84,842
 
 
 
91,332
 

Less accumulated depreciation

 
 
52,948
 
 
 
57,765
 

Net property and equipment

 
 
31,894
 
 
 
33,567
 

Operating lease right-of-use assets

 
 
3,227
 
 
 
–
 

Goodwill

 
 
3,637
 
 
 
3,431
 

Intangible assets, net

 
 
1,007
 
 
 
701
 

Other assets, net

 
 
176
 
 
 
170
 

Total assets

 
$
63,056
 
 
 
72,293
 

Liabilities and Shareholders' Equity

Current liabilities:

Accounts payable

 
$
1,755
 
 
 
3,184
 

Federal and state taxes payable

 
 
413
 
 
 
–
 

Accrued payroll and benefits

 
 
2,962
 
 
 
3,906
 

Accrued insurance

 
 
1,685
 
 
 
1,339
 

Accrued liabilities, other

 
 
860
 
 
 
398
 

Operating lease liabilities, current portion

 
 
1,166
 
 
 
–
 

Total current liabilities

 
 
8,841
 
 
 
8,827
 

Operating lease liabilities less current portion

 
 
2,249
 
 
 
–
 

Deferred income taxes

 
 
5,280
 
 
 
6,237
 

Accrued insurance

 
 
1,339
 
 
 
1,339
 

Other liabilities

 
 
890
 
 
 
1,093
 

Total liabilities

 
 
18,599
 
 
 
17,496
 

Commitments and contingencies

Shareholders' Equity:

Preferred stock, 5,000,000 shares authorized,

of which 250,000 shares are designated Series A

Junior Participating Preferred Stock; $0.01 par

value; none issued and outstanding

 
 
–
 
 
 
–
 

Common stock, $.10 par value; (25,000,000 shares

authorized; 3,377,279 and 3,351,329 shares issued

and outstanding, respectively)

 
 
338
 
 
 
335
 

Capital in excess of par value

 
 
38,610
 
 
 
38,099
 

Retained earnings

 
 
5,386
 
 
 
16,235
 

Accumulated other comprehensive income, net

 
 
123
 
 
 
128
 

Total shareholders' equity

 
 
44,457
 
 
 
54,797
 

Total liabilities and shareholders' equity

 
$
63,056
 
 
 
72,293
 

CONTACT:

Matt McNulty
Chief Financial Officer
904/858-9100

SOURCE: Patriot Transportation Holding, Inc.

ReleaseID: 599453

TORONTO, ON / ACCESSWIRE / July 29, 2020 / Aquarius Surgical Technologies Inc. (CSE:ASTI) ("the Company"), announces that there will be a delay in the filing of its annual financial statements and accompanying management's discussion and analysis, and related CEO and CFO certifications for the financial year ended March 31, 2020 (collectively "Annual Filings") due to COVID-19 related delays.

On May 20, 2020, the Canadian Securities Administrators (CSA) announced that they will provide issuers with a 45-day filing extension for filings required during the period from June 2, 2020 to August 31, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. The Company will rely on this exemption with respect to the Annual Filings in accordance with Ontario Instrument 51-505, Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 and corresponding Instruments in the other jurisdictions in which the Company is a reporting issuer.

The Company is continuing to work diligently and expeditiously with its auditors to file the Annual Filings by no later than August 14, 2020. In the interim, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

About Aquarius Surgical Technologies Inc.

Aquarius Surgical Technologies (ASTI:CSE) is a provider of innovative, minimally invasive medical laser systems and consumables for multiple medical disciplines, principally in the field of urology. Solutions also include clinical education, service, support and maintenance. ASTI is focused on increasing the availability of services for patients, enhancing the quality of patient care, improving operationally efficiencies and reducing total operational costs. Learn more by visiting ASTI's website https://aquariussurgical.com.

For more information, please contact:

Gordon Willox, President
Phone: 905-853-9090
gordonwillox@live.ca

Cathy Hume, Investor Relations, CHF Capital Markets
Phone: 416-868-1079 x 231
Email: cathy@chfir.com

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

SOURCE: Aquarius Surgical Technologies Inc.

ReleaseID: 599447

NEW YORK, NY/ ACCESSWIRE / July 29, 2020 / According to estimates from UNESCO, 1.2 billion children worldwide had their normal classroom experience disrupted due to the COVID-19 pandemic this spring. In the United States, debate continues to rage over how students will resume the school year.

Unsurprisingly, concerns over the potential to spread COVID-19 in a classroom setting has resulted in many advocating for the continued use of virtual classrooms. This side argues that e-learning is the safest option during the pandemic, even if it isn't always ideal.

On the opposite side of the spectrum are those who argue that e-learning has proven far inferior to the in-person classroom experience, harming the quality of education that children are receiving.

While there remain many issues to be addressed as schools adapt to e-learning and hybrid models, companies like Gooroo are poised to put a positive light on this unique situation. The company's unique matching algorithm aims to ensure better outcomes for all types of learners.

What Is Gooroo's Matching Algorithm?

"The goal of our matching algorithm is to ensure that students are matched to the tutor who will best meet their needs for a particular subject," says Scott Lee, Gooroo's founder and CEO.

"We vet all of our tutors to ensure that they can teach the subject well, but this isn't the only thing that matters in creating a positive learning experience. Successful tutoring requires good relationships, and that means there needs to be a meaningful connection between students and tutors."

To achieve this, Gooroo's algorithm asks for more than just the subject students need help with. The algorithm also asks for information such as a student's hobbies and interests, as well as any special needs or learning disabilities they may have.

Based on the information that parents submit to Gooroo's system, students can be given either an instant match with a tutor or a set of recommended candidates that they can choose from.

"We find that if we can match students with tutors who have similar interests and personality types, they are more likely to form a meaningful bond," Lee explains. "This helps the students become more engaged with their learning experience so they can achieve lasting improvement to their academic performance."

Calibrating for Different Learning Styles

A key part of Gooroo's matching algorithm is accounting for students' different learning styles – something that Lee feels is particularly important for the program's success.

"We focus on five main learning styles of instruction, discovery, storytelling, analogy, and theory," he explains. "Some of us learn best with one of these styles, while others learn through a combination of styles. Unfortunately, classroom learning – and traditional tutoring – often devolve into lectures that ignore the learning styles of most students. The children become less engaged and don't perform as well as expected."

Ensuring that students are matched to tutors who can accommodate their learning style has proven vital for Gooroo. After all, a student who prefers to experiment and perform hands-on work will require a different learning environment than one who wants a full explanation of the theory before applying the concept.

Some studies have previously shown that most students perform best when exposed to multiple teaching methods, something that is often easier to accommodate in individual e-learning than a classroom.

"E-learning allows for the introduction of augmented reality for discovery learners or easier access to case studies for storytelling learners," Lee notes. "Tech can be a distraction, but it can also be a tutor's greatest asset in helping topics come to life."

A Flexible Solution for Challenging Times

Like so many other educational programs, Gooroo has experienced significant changes as a result of the COVID-19 pandemic. However, because the company already handled matching through an algorithm and had online functionality in place, it was better equipped to adapt to the change.

"We've always given parents the option to hold tutoring sessions online, as well as in their home or a public place like a library," Lee says. "With stay at home orders and other mandates, we've seen the demand for online learning skyrocket. Flexibility has always been part of what we do, like letting unused tutoring hours roll over from month to month or letting kids work with multiple tutors. This helped us be better prepared to adapt to increased digital demand."

This flexibility may prove vital as the shift to e-learning is likely to continue and possibly even accelerate in the near future. A recent USA Today poll found that six in 10 parents were now more likely to look at home learning options for their children. Many teachers do not want to go back to their classrooms because of COVID-19 risks.

For parents, supplementing a digital classroom with e-tutoring could be key to ensuring that their children don't fall behind. Flexibility and adaptability are key to life in the pandemic, and e-learning can serve as a vital solution to this unique challenge.

Preparing for the Future

Given the current environment, it is hard to have much certainty regarding what education will look like in the months and years to come. Children could have vastly different experiences simply based on the school district they live in.

With the help of tools like Gooroo's matching algorithm, however, parents can have greater confidence that e-learning can become a viable educational method.

Media Details
Name: Scott Lee
Company: Gooroo
Email: scott@gooroo.com
Website: https://www.gooroo.com/
Telephone: (646) 791-3081

SOURCE: Gooroo

ReleaseID: 599449