Monthly Archives: February 2020

CORRECTION: LMP Automotive Holdings, Inc. Announces Fourth Quarter and Audited Fiscal Year 2019 Financial Results

PLANTATION, FL / ACCESSWIRE / February 26, 2020 / LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles, would like to correct an error in the press release issued by the Company on February 25, 2019. In the Company's "Fourth Quarter 2019 Financial Discussion", net loss for the fourth quarter was $0.07 rather than $0.70 issued in the Company's previous release.

The corrected version of the Company's press release follows.

LMP Automotive Holdings, Inc. Announces Fourth Quarter and Audited Fiscal Year 2019 Financial Results

Company Results Are In Line With Its February 5th Pre-Announced
Expectations and 2020 Outlook

PLANTATION, FL / ACCESSWIRE /February 25, 2020/ LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles, today announced it will report its fourth quarter and fiscal year 2019 financial results for the period ended December 31, 2019. As previously announced, management will hold a conference call at 5:30 p.m. ET to review and discuss the company's business and results. For more information visit: https://investors.lmpah.com.

Revenues in the fourth quarter increased 157% to $3.0 million as compared to the third quarter of 2019.

Gross profit in the fourth quarter increased to $247,000, an improvement of $417,189 as compared to the third quarter of 2019.

EBITDA[1] loss in the fourth quarter was $224,246, an improvement of $473 as compared to the third quarter of 2019.

Sam Tawfik, Chairman and CEO of LMP Automotive commented, "LMP's fourth quarter revenues grew to $3.0 million with gross profits of $247,000 as we began receiving new 2020 model vehicle inventory in the fourth quarter of 2019 utilizing some of the proceeds from our IPO and as our allocated fleet utilization for Subscription Leasing and Rentals increased to 83%. The recent luxury fleet acquisition from Revolve announced last week added to our inventory and expanded our South Florida market presence. As we grow our inventory, we anticipate being able to match our growing demand, which is projected to grow substantially in the future. In addition, over the last three months we launched subscription leasing in six new markets: Maryland, Connecticut, Illinois, Texas, New Jersey and California. In the second quarter of 2020 we are anticipating launching subscription leasing in three new markets: New York, Washington and Tennessee."

Bryan Silverstein, the Company's Chief Financial Officer added "Our recent IPO in December 2019 increased our cash by approximately $12 million and equity by approximately $10.5 million to $15.8 million and our follow-on public offering in February 2020 further strengthened our balance sheet by approximately $17.5 million. Our vehicle inventory financed as of December 31. 2019 was approximately 22%. We will continue to evaluate additional vehicle financing options to further leverage our balance sheet for future acquisitions and vehicle inventory growth."

Fourth Quarter 2019 Financial Discussion

Total revenue in the fourth quarter of 2019 decreased 47%, to $3.0 million, compared to $5.8 million, in the fourth quarter of 2018. Revenue decreased in the fourth quarter of 2019 primarily driven by our intent to improve the quality of our revenues by maintaining the higher margin subscription leasing and rental fleet active for a longer period before those vehicles are available for sale on our online platform. In addition, we sold vehicles to meet cash needs at the end of 2018.

Gross profit in the fourth quarter of 2019 increased to $247,000, or 8% of revenues, compared to a loss of $1.0 million, or -18% of revenues, in the fourth quarter of 2018. Margin expansion was driven by a higher allocated fleet utilization in our Subscription Leasing and Rentals business in the fourth quarter.

Total operating expenses, consisting of selling, general, and administrative expenses, shared-based compensation, acquisition, consulting and legal expenses and property, equipment, leasehold improvements and intangibles depreciation and amortization were approximately $796,000 in the fourth quarter of 2019, compared to $1.9 million in the fourth quarter of 2018. The decrease in operating expenses was primarily due to decreases in expenses related to payroll advertising and rent. In addition, we discontinued our Miami Beach, FL rental operations and consolidated them with our Plantation, FL operation in the second quarter of 2019.

Net loss in the fourth quarter of 2019 totaled $572,195, or a loss of $0.70 per share, compared to a net loss of $2.9 million, or a loss of $0.12 per share, in the fourth quarter of 2018. Total shares outstanding as of December 31, 2019 were 8,691,323, versus 24,645,294 on December 31, 2018.

Cash totaled $6.5 million at December 31, 2019. This represented an increase of $4.4 million from $2.1 million at the third quarter of 2019. This increase was primarily the result of proceeds from the Company's Initial Public Offering in December of 2019.

Additional Fourth Quarter 2019 Highlights

Q4 2019 GAAP Results

Revenue of $3,032,480, an increase of $1,854,593 as compared to Q3 2019;
Subscription fees revenue of $459,010, as compared to $340,482 in Q3 2019 and $242,881 in Q4 2018;
Rental revenue of $23,049, as compared to $43,858 in Q3 2019 and $274,439 in Q4 2018;
Total gross profit of $247,874, an improvement of $417,189 as compared to Q3 2019;
Net loss of $572,195, an improvement of $203,198 as compared to Q3 2019;
Inventory total $10,035,903;
Net loss per share of $0.07, based on weighted average shares of common stock outstanding of 6.8 million shares;
Shares of common stock outstanding at the end of the year was 8,691,323 shares; and
Stockholder equity at the end of the year was $15.8 million, an increase of $10.1 million from Q3 2019.

Q4 2019 non-GAAP Results

Unless otherwise noted, all financial comparisons stated below are versus Q4 2018.

EBITDA[2] loss was $224,246, a decrease of $473 as compared to Q3 2019;
Subscription Leasing and Rental Margins1 in the aggregate increased from 28.2% to 39.5% as compared to Q4 2018 and from 21.3% to 39.5% as compared to Q3 2019, an improvement of 11.4 and 18.2 percentage points, respectively; and
Vehicle Sales Margins1 increased from -21% to 2% as compared to Q4 2018 and from -43% to 2% as compared to Q3 2019, an improvement of 23 and 45 percentage points, respectively.

December 2019 Other Results

Month ended December 31, 2019 as compared to month ended November 30, 2019

Subscription Leasing and Rentals in-service unit count increased from 205 to 279, an increase of 36.1%;
Subscription Leasing in-service average monthly unit revenue was $877;
Rentals in-service average monthly unit revenue was $391; and
Allocated fleet utilization for Subscription Leasing and Rentals increased to 83%.

2020 Outlook

We are reiterating our 2020 internal goals ex-acquisitions for Revenue and Net Income based on our results in the trailing months and our view of the many exciting opportunities ahead. Our internal goals are as follows:

– Revenue of $52 – $65 million; and

– Net income of $2.8 – $3.5 million

2020 Internal Goals

Continue and expand the success of our Subscription Leasing and Rental business model at potential franchise dealership group acquisitions.
Launch 3D photo technology in the second quarter to enhance our e-commerce sales platform.
Launch LMP's App Technology in the Apple and Google stores licensed from Revolve Technologies in March for a smoother and faster consumer experience.
Launch our test market wholesale Subscription Leasing offering in March with Auto Dealers, Brokers and Rental Company Partners

At LMP, we believe we can and intend to demonstrate rapid, efficient and profitable expansion and in a modern online-centric way. LMP is focused on acquiring dealer groups to create concentrated clusters of dealerships to derive maximum SG&A efficiency and redundancy, as well as expanded consumer product optionality. At the same time, we plan on maintaining each dealership's local brand recognition and online presence while simultaneously presenting all new, used, subscription, and rental inventory on the main LMP sites to create one of the largest and most diverse online stores, enabling consumers multiple options for access to vehicles. We believe this approach will grow both revenue and earnings of the potential acquisitions.

Other Financial Measures

Subscription Leasing and Rental In-service Average Monthly Unit Revenue

The Company calculates subscription leasing in-service average monthly unit revenue by dividing subscription fee revenues in the period by the subscription vehicle count that generated the revenue in the period.

The Company calculates rental in-service average monthly unit revenue by dividing rental revenues in the period by the subscription vehicle count that generated the revenue in the period.

Non-GAAP Financial Measures

The Company has provided in this release certain non-GAAP financial measures, including EBITDA, Subscription Leasing and Rental Margins and Vehicle Sales Margins, to supplement its financial results that are prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). Management uses these financial metrics internally in analyzing the Company's financial results to assess operational performance and to determine the Company's future capital requirements. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. The Company believes that both management and investors benefit from referring to these financial metrics in assessing our performance and when planning, forecasting and analyzing future periods. The Company believes these financial metrics are useful to investors and others to understand and evaluate the Company's operating results and it allows for a more meaningful comparison between the Company's performance and that of competitors. Our use of EBITDA, Subscription Leasing and Rental Margins and Vehicle Sales Margins have limitations as analytical tools, and you should not consider these performance measures in isolation from or as a substitute for analysis of our results as reported under GAAP. Because of these limitations, you should consider these financial metrics along with other financial performance measures, including total revenues, total gross profit and net loss presented in accordance with GAAP.

EBITDA

The company defines EBITDA as net loss before interest expense, income tax expense, depreciation (including vehicle inventory impairment) and amortization.

The following table provides a reconciliation of EBITDA to net income, the most directly comparable GAAP financial measure, on a historical basis and for each of the periods indicated.

Reconciliation of Net loss to EBITDA

 

Q4 2019

 
 

Q3 2019

 
 

Change

 

Net loss

 

$

(572,195)

 
 

$

(775,393)

 
 
 
 
 

Interest expense

 

$

23,233

 
 

$

4,161

 
 
 
 
 

Tax

 

$

 
 

$

 
 
 
 
 

Depreciation and amortization expense – Property, equipment, leasehold improvements, and intangibles

 

$

26,505

 
 

$

23,996

 
 
 
 
 

Depreciation expense – fleet vehicles

 

$

249,031

 
 

$

225,606

 
 
 
 
 

 
 

$

49,180

 
 

$

297,857

 
 
 
 
 

EBITDA

 

$

(224,246)

 
 

$

(223,773)

 
 

$

(473)

 

Subscription Leasing and Rental Margins

The Company calculates Subscription Leasing and Rental Margins by deducting subscription and rental cost of revenues from subscription fee and rental revenues adjusted for non-recurring, material adjustments.

The following table provides a reconciliation of Subscription Leasing and Rental Margins to subscription fee and rental revenues, the most directly comparable GAAP financial measure, on a historical basis and for each of the periods indicated.

Reconciliation of Subscription Fees and Rental Revenues to Subscription Leasing and Rental Margin

 

Q4 2019

 
 

Q3 2019

 
 

Change from Q4 2019

 
 
 

Q4 2018

 
 
 

Change from Q4 2019

 

Subscription fees revenue

 

$

459,010

 
 

$

340,482

 
 
 
 
 
 

$

242,881

 
 
 
 

Rental revenues

 

$

23,049

 
 

$

43,858

 
 
 
 
 
 

$

274,439

 
 
 
 

Total Subscription fees and rental revenues

 

$

482,059

 
 

$

384,340

 
 
 
 
 
 

$

517,320

 
 
 
 

Subscription and rental cost of revenues

 

$

(291,526)

 
 

$

(302,331)

 
 
 
 
 
 

$

(371,609)

 
 
 
 

Gross profit (loss)

 

$

190,533

 
 

$

82,009

 
 
 
 
 
 

$

145,711

 
 
 
 

Subscription Leasing and Rental Margin

 
 

39.5%

 
 
 

21.3%

 
 

18.2%

 
 
 
 

28.2%

 
 
 

11.4%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Vehicle Sales Margins

The Company calculates Vehicle Sales Margins by deducting vehicle sales cost of revenues and inventory impairment from vehicle sales revenue.

The following table provides a reconciliation of Vehicle Sales Margins to Vehicle Sales Revenue, the most directly comparable GAAP financial measure, on a historical basis and for each of the periods indicated.

Reconciliation of Vehicle Sales Revenue to Vehicle Sales Margin

 

Q4 2019

 
 

Q3 2019

 
 

Change from Q4 2019

 
 

Q4 2018

 
 

Change from Q4 2019

 

Vehicle sales revenue

 

$

2,544,904

 
 

$

793,547

 
 
 
 
 

$

5,245,485

 
 
 

Vehicle sales cost of revenues

 

$

(2,443,900)

 
 

$

(833,168)

 
 
 
 
 

$

(5,830,626)

 
 
 

Inventory impairment

 

$

(49,180)

 
 

$

(297,857)

 
 
 
 
 

$

(529,983)

 
 
 

Gross profit (loss)

 

$

51,824

 
 

$

(337,478)

 
 
 
 
 

$

(1,115,124)

 
 
 

Vehicle sales margin

 
 

2%

 
 
 

(43%)

 
 

45%

 
 
 

(21%)

 
 

23%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Conference Call

Management will host an investor conference call at 5:30 p.m. ET on Tuesday, February 25, 2020 to discuss LMP Automotive Holdings Fourth Quarter and 2019 Financial Results and conclude with Q&A from participants. All interested parties can join the call by dialing (855) 327-6837 or (631) 891-4304. A webcast of the call may be accessed at: http://public.viavid.com/player/index.php?id=138004

An archived webcast of the conference call will be accessible from the Investor Relations section of the company's website, https://investors.lmpah.com/. A telephonic replay of the conference call will be available through Tuesday, March 10, 2020, by dialing (844) 512-2921 or (412) 317-6671 and entering passcode 10008626#.

About LMP Automotive Holdings, Inc. – "Buy, Rent or Subscribe, Sell and Repeat."

LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its business model as "Buy, Rent or Subscribe, Sell and Repeat." This means that we "Buy" pre-owned automobiles primarily through auctions or directly from other automobile dealers, and new automobiles from manufacturers and manufacturer distributors at fleet rates. We "Rent or Subscribe" by either renting automobiles to our customers or allowing them to enter into our subscription plan for automobiles in which customers have use of an automobile for a minimum of thirty (30) days. LMP's all-inclusive vehicle subscription membership includes monthly swaps and covers insurance, maintenance and upkeep. It offers the flexibility to upgrade your vehicle to a more premium model or downgrade for a lesser cost model when you like. We "Sell" our inventory, including automobiles previously included in our rental and subscription programs, to customers as well, and then we "Repeat" the whole process.

Media Contact:

John Mattio
President and Founder
Lamnia International
(203) 885-1058
jmattio@lamniacom.com

For more information visit: https://lmpmotors.com/.

FORWARD-LOOKING STATEMENTS:

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. These statements may be preceded by, followed by or include the words "aim," "anticipate," "believe," "estimate," "expect," "forecast," "intend," "likely," "outlook," "plan," "potential," "project," "projection," "seek," "can," "could," "may," "should," "would," will," the negatives thereof and other words and terms of similar meanings. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: our dependence upon external sources for the financing of our operations; our ability to effectively executive our business plan; our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our services and platform; our ability to manage the growth of our operations over time; our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others; our ability to maintain relationships with existing customers and automobile suppliers, and develop relationships; and our ability to compete and succeed in a highly competitive and evolving industry; as well as other risks described in our SEC filings. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

[1] EBITDA, Subscription Leasing and Rental Margin and Vehicle Sales Margin are non-GAAP financial measures which are reconciled to the most directly comparable measures calculated in accordance with GAAP under the caption "Non-GAAP Financial Measures."

[2] EBITDA, Subscription Leasing and Rental Margin and Vehicle Sales Margin are non-GAAP financial measures which are reconciled to the most directly comparable measures calculated in accordance with GAAP under the caption "Non-GAAP Financial Measures."

 SOURCE: LMP Automotive Holdings, Inc.

ReleaseID: 578005

CLASS ACTION UPDATE for OPRA, PTLA and WBK: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / February 26, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

OPRA Shareholders Click Here: https://www.zlk.com/pslra-1/opera-limited-loss-form?prid=5525&wire=1
PTLA Shareholders Click Here: https://www.zlk.com/pslra-1/portola-pharmaceuticals-inc-loss-form?prid=5525&wire=1
WBK Shareholders Click Here: https://www.zlk.com/pslra-1/westpac-banking-corporation-loss-form?prid=5525&wire=1

* ADDITIONAL INFORMATION BELOW *

Opera Limited (NASDAQ:OPRA)

OPRA Lawsuit on behalf of: investors who purchased (a) Opera American depositary shares pursuant and/or traceable to the Company's initial public offering commenced on or about July 27, 2018 and/or (b) Opera securities between July 27, 2018 and January 15, 2020,
Lead Plaintiff Deadline: March 24, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/opera-limited-loss-form?prid=5525&wire=1

According to the filed complaint, (i) Opera's sustainable growth and market opportunity for its browser applications was significantly overstated; (ii) Defendants' funded, owned, or otherwise controlled loan services applications and/or businesses relied on predatory lending practices; (iii) all the foregoing, once revealed, were reasonably likely to have a material negative impact on Opera's financial prospects, especially with respect to its lending applications' continued availability on the Google Play Store; and (iv) as a result, the Offering Documents and Defendants' statements were materially false and/or misleading and failed to state information required to be stated therein.

Portola Pharmaceuticals, Inc. (NASDAQ:PTLA)

PTLA Lawsuit on behalf of: investors who purchased May 8, 2019 – January 9, 2020
Lead Plaintiff Deadline: March 16, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/portola-pharmaceuticals-inc-loss-form?prid=5525&wire=1

According to the filed complaint, during the class period, Portola Pharmaceuticals, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Portola's internal control over financial reporting regarding reserve for product returns was not effective; (2) Portola was shipping longer-dated product with 36-month shelf life; (3) Portola had not established adequate reserve for returns of prior shipments of short-dated product; (4) as a result, Portola was reasonably likely to need to "catch up" on accounting for return reserves; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Westpac Banking Corporation (NYSE:WBK)

WBK Lawsuit on behalf of: investors who purchased November 11, 2015 – November 19, 2019
Lead Plaintiff Deadline: March 30, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/westpac-banking-corporation-loss-form?prid=5525&wire=1

According to the filed complaint, during the class period, Westpac Banking Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) contrary to Australian law, the Company failed to report over 19.5 million international funds transfer instructions to the Australian Transaction Reports and Analysis Centre ("AUSTRAC"); (2) the Company did not appropriately monitor and assess the ongoing money laundering and terrorism financing risks associated with movement of money into and out of Australia; (3) the Westpac did not pass on requisite information about the source of funds to other banks in the transfer chain; (4) despite being aware of the heightened risks, the Company did not carry out appropriate due diligence on transactions in South East Asia and the Philippines that had known financial indicators relating to child exploitation risks; (5) the Company's Anti-Money Laundering and Counter-Terrorism Financing Policy Program was inadequate to identify, mitigate and manage money laundering and terrorism financing risks; and (6) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington, D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm

ReleaseID: 578006

Kroger Precision Marketing Achieves Tag Platinum Certification For Digital Advertising Trust And Transparency Practices

First Retail Media Platform Awarded Platinum Certification by the Trustworthy Accountability Group for Securing TAG Seals to Improve Transparency and Prevent Fraud, Malware, Piracy

CINCINNATI, OHIO / ACCESSWIRE / February 26, 2020 / The Kroger Co.'s (NYSE:KR) media advertising business, Kroger Precision Marketing (KPM), announces it has achieved TAG Platinum Certification from the Trustworthy Accountability Group (TAG). TAG Platinum status recognizes KPM as a digital marketing leader for achieving TAG's rigorous certifications in all four program areas, including: eliminating ad fraud, combatting malware, fighting Internet piracy, and promoting transparency. KPM is the first retail media platform to reach this milestone.

Kroger Precision Marketing launched just over two years ago. Powered by Kroger's popular loyalty program, it connects customers to brands through engaging moments that inspire purchase online or in-store. KPM closes the loop between media exposure and store sales to make brand advertising more addressable, actionable, and accountable.

"We launched KPM to push the entire media supply chain to become more effective for brands. Our TAG Platinum Certification is another sign of our commitment to transform digital media through transparency and accountability," said Cara Pratt, Vice President, Commercial and Product Strategy for Kroger Precision Marketing at 84.51°. "We work with the most valuable brand names in consumer packaged goods, and we have a responsibility to lead the industry by keeping the highest standards in our media ecosystem."

TAG was created through a collaboration of organizations representing advertisers and media suppliers to fight criminal activity and increase trust in the digital advertising industry. Companies earn certifications by setting best practices and achieving industry-recognized standards across each of TAG's four program areas: TAG Certified Against Fraud, TAG Certified Against Malware, TAG Certified Against Piracy, and TAG Inventory Quality Guidelines. Benchmark studies have shown that using TAG Certified distribution channels reduces invalid traffic rates by 88 percent over industry averages.

"We are excited to have Kroger Precision Marketing join an elite group of TAG Platinum Certified companies. By reaching this milestone, KPM is leading the retail media industry in transparency and the eradication of digital advertising fraud, malware, and ad-supported piracy," said Mike Zaneis, President and CEO of TAG. "KPM's dedicated efforts to set high standards will result in a better user experience for consumers and a safer digital investment for brands doing business with TAG Certified companies like KPM."

About Kroger Precision Marketing

Kroger Precision Marketing is a leading retail media advertising solution. Powered by Kroger's popular loyalty card program, we connect customers to brands through engaging moments that inspire purchasing online or in-store. Kroger Precision Marketing closes the loop between media exposure and store sales to make brand advertising more addressable, actionable, and accountable. Learn more at KrogerPrecisionMarketing.com.

CONTACT:

Lisa Dyson
O'Keeffe PR
Lisa@Okeeffepr.com
(513) 404.6302

SOURCE: The Kroger Co.’s (NYSE: KR) media advertising business, Kroger Precision Marketing

ReleaseID: 577989

Delta Resources Intersects Wide Zones of Low-Grade Gold from Its First Exploratory Drilling Program at the Eureka in Thunder Bay, Ontario

KINGSTON, ON / ACCESSWIRE / February 26, 2020 / Delta Resources Limited ("Delta" or "The Company") (TSXV:DLTA) is pleased to announce its final drill results from its first exploratory drilling program at the Delta-1 Property, 50 kilometres west of Thunder Bay, Ontario.

Delta completed a total of 1,009 metres of drilling in six drill holes in late November 2019, testing the Eureka Gold Occurrence. Preliminary results were press released on January 8th, 2020 (https://deltaresources.ca/delta-resources-announces-preliminary-results-from-its-first-drilling-program-at-the-eureka-gold-discovery-thunder-bay-mining-district-ontario/). Current results include additional sampling that followed.

Results to date show a very wide zone of low-grade gold mineralization intersected over a 200 metres strike length and extending vertically from surface to a depth of up to 110 metres. The mineralized zone is open to the North, West, East and at depth.

Andre Tessier, Chief Executive Officer of Delta Resources, commented as follows:

"We're very encouraged by these first results at Eureka. These wide intercepts of pervasive alteration and low-grade disseminated-style gold mineralization in weakly deformed rocks are telling us the mineralizing system is very strong. The objective of future exploration will be to identify the feeder structures that host the higher-grade gold mineralization."

Complete results are as follows:

DRILL HOLE
From
(metres)
To
(metres)
Grade
(g/t)
Core Length (metres)

DT1-19-01
17,0
31,0
0,18
14,0

 
73,2
74,3
4,10
1,1

DT1-19-02
3,9
110,6
0,11
106,7

incl
22,5
25,4
0,51
2,90

incl
94,7
110,6
0,33
15,9

DT1-19-03
10,0
151,0
0,17
141,0

incl
10,0
53,0
0,45
43,0

incl
14,0
41,5
0,64
27,5

incl
14,0
27,8
0,84
13,8

incl
18,0
25,5
1,10
7,50

DT1-19-04
2,8
30,0
0,21
27,2

incl
13,0
20,5
0,37
7,50

DT1-19-05
9,0
146,0
0,20
137,0

incl
35,0
57,0
0,73
22,0

incl
35,0
43,0
1,00
8,0

incl
50,6
56,0
0,94
5,4

DT1-19-06
9,0
32,5
0,12
23,5

*Delta's current interpretation suggests that true widths of the mineralized zones are approximately 70% of the drill intercepts.

From north to south, drilling intersected clastic sediments, ultramafic flows and feldspar-phyric mafic flows crosscut by dikes of intermediate composition. Pervasive, intense alteration, consisting of ankeritization and silicification affects all of the aforementioned rock types and is followed by at least two generations of hydrothermal breccias.

Gold mineralization occurs in all rock types except the feldspar-phyric flows where it has not yet been observed. Gold mineralization is typically disseminated, although at least three generations of quartz-carbonate-albite stockwork veins are observed. Exact timing of the gold mineralization has not been determined. To date, the rocks intersected in drill core are only weakly deformed. Delta has not intersected the Shebandowan Structure that could potentially concentrate and channel gold mineralization or remobilize and concentrate early gold. The Delta team is currently working to determine the relationship between these newly intersected, broad and open disseminated gold zones and the higher-grade gold occurrences in the area.

Delta applied for exploration permits in January (which includes 20,000 metres of drilling) to resume work at the property in the short term.

The property is located in the Shebandowan Greenstone Belt and covers a 17km strike extent of the Shebandowan Structural Zone which also hosts the low-grade – high-tonnage Moss Lake gold deposit (Wesdome; WDO:TSX), 50 km to the west.

Maps and sections are attached to this press release and available at www.deltaresources.ca under the "news" tab. A short video about the results can also be accessed by following this link: http://youtu.be/M-7uapc4s5g. The same video is also available in the "Investors/President's Message" tab at www.deltaresources.ca

Analytical Protocol and QA/QC

Chemical analyses reported in this press release were performed at SGS Canada Minerals Laboratories in Red Lake, Ontario (ISO/IEC 17025 certified), by atomic absorption method. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.

NQ-size drill core was sawed in half lengthwise and half of the core was sampled based on geological observations. The remaining half of the core was replaced in core boxes and is stored on site. Drill core samples were bagged and sealed before being transported to SGS Canada Minerals' laboratory in Red Lake.

Andre C. Tessier, P.Eng and P.Geo. President and CEO of Delta Resources Limited is a Qualified Persons as defined by NI-43-101 and is responsible for the technical information presented in this press release. Mr. Tessier has reviewed the drill core and the analytical results described herein.

About Delta Resources Limited

Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the acquisition of high-potential gold and base-metal projects in Canada, exploring these projects with state-of-the-art methods, and potentially developing these projects into mines.

Delta owns a 100% interest in the Bellechasse-Timmins gold deposit in southeastern Quebec, Canada which contains a 43-101 gold resource of 171,000 ounces at an average grade of 1.83 g/t gold in the indicated category and an additional 95,000 ounces at an average grade of 1.36 g/t gold in the inferred category (SGS Canada Inc., Bellechasse-Timmins Property Resource Estimate, Southeastern Quebec, August 1, 2012).

The company's focus is currently to build a strong portfolio of mineral exploration properties with a high potential for economic discoveries in Canada while evaluating the long-term potential of its 100% owned Bellechasse-Timmins gold deposit in southeastern Quebec.

In October 2019, Delta announced the acquisition of the Eureka Gold Discovery in the Thunder Bay area and the Delta-2 Property which hosts the R-14 Gold Prospect in the Chibougamau Mining District of Quebec.

ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.

Andre C. Tessier
President, CEO and Director
www.deltaresources.ca

We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.

For Further Information:

Delta Resources Limited

Frank Candido, Chairman, VP Corporate Communications
Tel : 514-969-5530
fcandido@deltaresources.ca

or

Andre Tessier, CEO and President
Tel: 613-328-1581
atessier@deltaresources.ca

Cautionary Note Regarding Forward Looking Information

Some statements contained in this news release are " "forward looking information" within the meaning of Canadian securities laws. Forward looking information include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment of the debt settlements. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.

Geological Map of the Delta-1 Property showing the location of the Eureka Gold Discovery.

Interpreted Geological Map of the drill Site at Eureka showing the location of the drill holes.

Vertical Section of the Eastern drill hole fence at Eureka showing the extent of the mineralization.

Vertical Section of the Western drill hole fence at Eureka showing the extent of the mineralization.

SOURCE: Delta Resources Limited

ReleaseID: 577995

Rise of the World’s First Convertible Crypto Bond THE NAME IS BOND, COMM’S BOND

SINGAPORE / ACCESSWIRE / February 26, 2020 / Crypto Commonwealth has designed a decentralized novel financial product to facilitate the sales of its natural token, COMM. "In essence it is a substitute for our main token COMM in lock with the same tokenomics," said Wayne Yee, the founder of Crypto Commonwealth and the leading designer of CBND. "We'd like to give our investors more freedom, offer the market more liquidity and make the locked token sale a trusted and transparent process. We pondered a lot on a derivative product that bears a name of options or futures, but now it's official – the name is Bond, COMM's Bond!"

Initial Coin Offering, or ICO, has emerged as a popular option for fundraising, especially among blockchain-based projects. During an ICO event, the project distributes tokens to the public worldwide, and raises initial funds to grow its digital ecosystem, promote the token use and consolidate its circulation. Typical IPOs and ICOs often come with lock periods, during which the shares or tokens distributed are not tradable. This secures the funds for project development, yet reduces the investment liquidity and strongly restricts the ways investors manage their risks.

A bridge between initial funding and listing, CBND or ‘C Bond' is the world's first Convertible Crypto Bond aiming for a solution to this dilemma. It shares certain features in common with convertible bond in the traditional financial market, but with significant simplifications. It is expected to improve COMM's liquidity and locking transparency for its ICO. The token sale is essentially on the crypto underlying, COMM. Unlike typical ICOs, investors would receive tradable CBNDs while having the same amount of COMMs locked. When the lock period is over, 1:1 and one-way redemption would be offered to convert each CBND to COMM, the main token. All redeemed CBNDs would be burnt immediately, leaving the token in scarcity. The remaining and circulating CBNDs in the market, if any, would share the same tokenomics with COMM and continue to persist.

The sales of CBND is conducted at COMM's dedicated ICO website, cryptocommonwealth.co, starting on March 1st, 2020 and to last a month. The CBNDs will be listed immediately after all stages. Meanwhile, sales will run in sync on crypto exchanges of note. COMM has a fixed total supply, 50% of which is reserved for investors in tiered sales, and 30% for ecosystem development and content mining. The remaining 20% is reserved for the team, locked irrevocably by an audited smart contract and to be released linearly over the next 5 years.

A pioneer in scientific publishing and asset management on blockchain, CBND and COMM's issuer – Crypto Commonwealth is committed to building an ecosystem that endows value upon exploration of new knowledge, and promotes it into productivity. It harnesses the power of knowledge produced by leading scholars, and compensates them with fair token payments. This enables crowd based publisher operations and the offering of transparent, research-based investment strategies. Some strategies have already been brought online with capital allocated. Both scientific publishing and asset management industries are highly centralized, globalized and homogeneous among different regions, where decentralized tokenomics and blockchain technology can play an important role, with the assistance of a just currency policy and well-designed economic model. Crypto Commonwealth believes that a strong crypto project should be open-minded and willing to benefit the welfare of society. That spirit is the best nourishment for the ecosystem under a healthy token distribution structure, where the team and the community's interests fully align. They are hereby forging a crypto ecosystem for the common good, hence the name "Commonwealth".

The CBND and COMM team has a strong background in traditional and digital assets, derivative pricing, and portfolio management. Most of the core team members are quantitative Ph.D.s from renowned tech companies, hedge funds and academic institutions including Google, Cadence, Worldquant, Harvard, MIT, and Fermilab. Moreover, several top advisors are dedicated to assisting their publishing and financing endeavors. Among them are doctoral supervisor in top university, senior derivative quant in investment banking, and #1 ranked experts on reputed ICO rating sites including ICO Bench and ICO Holder.

"The design of CBND was challenging and exciting," said Wayne. "It desired a new pricing mechanism that no one ever thought of before. We started totally from scratch, and were super careful on each feature design. When we eventually came up with this new type of token derivative, we kept going and polished it further to a simple and elegant product, one that adds significant value to its holders. That is, our investors can enjoy much higher liquidity throughout the investment period, and more flexibility in their risk management. The rise of CBND embodies great efforts and expertise of our dedicated team, and we are all very proud of it!"

Whitepaper: https://cryptosmartbeta.com/wp-content/uploads/docs/whitepaper_en.pdf
Twitter: https://twitter.com/CryptoSmartBeta
Facebook: https://www.facebook.com/Crypto-Commonwealth-102262581218579/
Telegram: https://t.me/Crypto_Commonwealth_Europe
Telegram channel: https://t.me/CryptoCommonwealth_ANN
LinkedIn: https://www.linkedin.com/company/cryptocommonwealth
Youtube: https://bit.ly/2wHQAU5

Media Contact

Company Name:Crypto Commonwealth
Person:Katula Lamperouge
info@cryptocommonwealth.io
ICO site: cryptocommonwealth.co
Main site: cryptocommonwealth.io

SOURCE: Crypto Commonwealth

ReleaseID: 577991

Tobra Medical Reports 113% Sales Revenue Growth For 2019 Driven By The Wildly Popular Tobra Bone Basket

WAKE FOREST, NC / ACCESSWIRE / February 26, 2020 / Tobra Medical Inc., a specialty medical device company focused on autograft bone and specimen collection in surgical procedures, released their 2019 annual revenue and volume growth today. The company reported a massive 113% revenue growth and 112% volume unit growth in 2019 compared to 2018. The tremendous growth was spearheaded by the wildly successful Tobra Bone Basket. The cutting-edge and patented Tobra Bone Basket witnessed an explosive sales revenue growth of 113% and a volume unit growth of 104% in 2019. "The widespread use of the Tobra Bone Basket is being adopted by spine surgeons much faster than we forecasted due to the unique mesh basket filtration system that allows for continuous filtration making the Tobra Bone Basket efficient and easy to use," said Tobra Medical Founder and President Brad Collins. "Healthcare facilities have welcomed the affordable price and value that Tobra offers and have quickly recognized the opportunity for Tobra Bone Basket's substantial financial savings by reducing or eliminating costly allograft bone substitutes." Tobra Medical reported quick adoption primarily in teaching facilities, IDNs, community hospitals and surgery centers. Due to faster than expected growth, Tobra Medical plans to increase its support of many surgeon societies and facility administration meetings in 2020 to spread the brand awareness of "Bone Collection Made Easy" at an affordable price.

For more information, please visit

www.tobrabonebasket.com
https://www.linkedin.com/company/tobra-medical-inc/

About Tobra Medical

Tobra Medical is headquartered in Wake Forest, NC and is a specialty medical device company focused on autograft bone and specimen collection devices for use in the operating room. Founded in 2015 with a vision to innovate effective and economical autograft bone and specimen collection systems, Tobra Medical launched their first products nationally in January 2018. Located in the Research Triangle Region of North Carolina, Tobra Medical leverages a collaboration of high performing medical engineers, surgeons, and operating room personnel to innovate solutions to improve better clinical patient outcomes. For more information, visit www.tobramedical.com or email info@tobramedical.com

CONTACT:

info@tobramedical.com
(866) 777-1505

SOURCE: Tobra Medical Inc.

ReleaseID: 577866

YINGHERA Breaks Through the Worldwide Problem of Chloasma Working Out the Frustrations for Global Women

NEW YORK, NY / ACCESSWIRE / February 26, 2020 / The core ingredients of YINGHERA comes from the UK, which match a variety of effective ingredients to whiten and brighten the skin, making it an effective way to solve chloasma. YINGHERA is also a good product trusted by women all over the world, and it has been recognized by experts at home and abroad in chloasma treatment.

Introduction to China·Hainan Keyimei Company and Its Product YINGHERA

China·Hainan Keyimei Biotechnology Co., Ltd. is based on Hainan Free Trade Zone, with the high-tech industry as its leading role. The company is dedicated to the research and development of skin care products, especially for the research of chloasma pigmented skin problems. Moreover, it attaches importance to the research and development of products and product standardization, integrates product research, design, production and sales, and it is committed to building an international leading product.

Chloasma is a worldwide problem. At present, there is no good way to solve Chloasma in the world. Whether it is laser or external whitening products or oral drugs, the effect is not ideal.

YINGHERA is one of the hundreds of R & D personnel and clinicians of Keyimei company. After years of research and a large number of clinical trials, it has made a breakthrough in the treatment of chloasma, and it is at the leading level in China. Its core technology comes from the UK. At the same time, it is the only one in the world that can effectively improve the production of chloasma with a variety of effective ingredients, safety and no side effects product. Meanwhile, it has obvious effect of anti-dullness, skin rejuvenation and skin moist.

CONTACT:
Company Name: YINGHERA
Vicky Liu
1035821602@qq.com
+86 18976789001

SOURCE: YINGHERA

ReleaseID: 577965

Orchid Ventures Announces The Launch Of A New Subsidiary, PurTec Delivery Systems, A Delivery System Technology Company

IRVINE, CA / ACCESSWIRE / February 26, 2020 / Multi-State cannabis company Orchid Ventures, Inc. (CSE:ORCD)(OTC:PINK:ORVRF) ("Orchid Ventures" or the "Company") announces the launch of a new subsidiary, PurTec Delivery Systems, LLC ("PurTec").

PurTec designs and sells proprietary, patent pending hardware delivery systems to the Cannabis and CBD industries both in North America and globally. With the development of Orchid Essentials in 2017, the company realized it's Vape hardware has yet to be beat in the cannabis industry, and since inception, has been considered one of the best delivery systems on the market. The Company has spent the past 3 years developing manufacturing standards and protocols that have created unique hardware options that the Company believes to be safer, more effective, and providing a better user-experience than any other vaporizer hardware line available today. Consistent with the company's position "to build consistent, high quality brands and products that consumers can relate to and trust", PurTec products are built with the highest quality materials, are emissions and leach tested to ensure consumer safety and are uniquely designed to create an optimal consumer experience.

"Since launching the Orchid Essentials vape line in 2017, we have always focused on engineering hardware that would outperform others, as well as being clean and safe for consumers. Though government agencies in the US do not require emissions testing at this time, we believe they will soon integrate this level of testing into their standard protocols and regulatory standards to ensure consumer safety. Creating effective and clean products is challenging due to the difficulty of sourcing quality materials that don't contain trace chemicals and heavy metals that leach into the oil, and more importantly, can be vaporized and inhaled by consumers", said Corey Mangold, Founder & CEO. "The PurTec line of hardware is a common sense purchase for companies selling vape products, as our products perform better than the competition, are value priced and are tested clean and safe from harmful emissions. We know that vape isn't going anywhere, it's a preferred consumption method by a large percentage of cannabis users over the age of 25 and we feel that PurTec will be the perfect shift in our business that is non-cannabis touching."

"The launch of PurTec was something that we had been considering for some time and as we strategically pivoted the company toward a more diversified position our focus turned to unlocking revenue potential by expanding more rapidly into non-vape cannabis products, including entry into the CBD marketplace, plus building new businesses around our core IP equities and development opportunities. The launch of PurTec is just the initial step in a multi-year program to expand the Orchid enterprise into additional lines of business that will create value for our shareholders.", said Richard Brown, President of Orchid Ventures.

Initially Purtec will be launching two ceramic coil cartridges at a price point considerably less than comparable products in the market due to improved design and engineering. Also, PurTec is launching a revolutionary disposable product that hits better, delivers more flavor, and is a fraction of the cost of other disposables. The Company has also created PurTec Concierge as a complimentary service for PurTec clients. This service will help customers launch new products, setup and streamline production facilities, including setting up automation production lines, filling machines, and overall improving efficiencies.

In addition, PurTec will also be launching the ‘Orchid Platform' where we will be direct-selling PurTec products and Orchid services to various brands, processors and retailers that want a white-label product to extend their business. We will assist clients with developing their co-branded product where they will use our PurTec hardware and packaging, or help them source oil, fill product, manage compliance, and distribute the product into the market. The Company has already launched the Orchid Platform and is in production for select retailers to provide them with their own product line, without the headache of managing a supply chain.

"As PurTec expands, the company is focused on bringing more proprietary technology and delivery systems to the market. We do not intend to focus purely on vaporizers, and are working with companies to develop cannabinoid delivery systems for other product applications. Overall, we are excited about this new division as it continues to diversify our revenue streams, and most importantly continues our path of ‘Creating the Highest Standards in the Cannabis Industry'." said Corey Mangold, Founder & CEO of Orchid Ventures.

 

PurTec Orchid, PurCore Summit, PurSilo disposable. All available in .5g or 1g.

The PurTec products can be seen at www.PurTecDesigns.com and are now available for sale to companies in the US and internationally. The PurTec design team works with clients to customize their products to create strong brand synergy with the hardware and give companies unique differentiators. All products are emissions tested at European Union emissions testing standards.

ABOUT ORCHID ESSENTIALS

Orchid Essentials is an Irvine, CA-based multi-state operator that launched in Oregon and California in August 2017 and has since developed a mass-market brand and loyal consumer following with its premium cannabis products. Orchid's product lines are currently sold in 350+ dispensaries across California and Oregon and are handcrafted and designed for optimal user-experience and overall enjoyment. The company's proven processes and passion for what it does carry through into its products. The end result is an unparalleled experience for new and practiced cannabis users alike. Orchid plans to expand its operations into new national markets, as well as global markets such as Latin America and Europe. With a continued focus on brand and intellectual property development, Orchid will continue to execute strategic acquisitions to further solidify it's vertically integrated infrastructure with the goal of becoming a dominant premium cannabis company in the United States. Orchid's management brings significant branding, product development and distribution experience with a proven track record of scaling revenues, building value-generating partnerships and creating enterprise value. Learn more at https://orchidessentials.com/

ON BEHALF OF THE BOARD OF DIRECTORS – ORCHID VENTURES, INC.

Corey Mangold
CEO and Director
investors@orchidessentials.com

Investor Relations

Corey Mangold
949-357-5818
corey@orchidessentials.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Safe Harbor Statement

Except for historical information contained herein, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Orchid Ventures, Inc. and Orchid Essentials any of its affiliates or subsidiaries (collectively, the "Company") or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company's Canadian securities regulatory filings with sedar.com, Factors which could cause actual results to differ materially from these forward-looking statements include such factors as (i) the development and protection of our brands and other intellectual property, (ii) the need to raise capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of our products and services, (v) the Company's ability to conduct the business if there are changes in laws, regulations, or government policies related to cannabis, (vi) management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and (vii) other information that may be detailed from time to time in the Company's Canadian securities regulatory filings with sedar.com. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Orchid Ventures, Inc.

ReleaseID: 577933

CLASS ACTION UPDATE for SSL, QD and LK: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / February 26, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

SSL Shareholders Click Here: https://www.zlk.com/pslra-1/sasol-limited-loss-form?prid=5524&wire=1
QD Shareholders Click Here: https://www.zlk.com/pslra-1/qudian-inc-loss-form?prid=5524&wire=1
LK Shareholders Click Here: https://www.zlk.com/pslra-1/luckin-coffee-inc-loss-form?prid=5524&wire=1

* ADDITIONAL INFORMATION BELOW *

Sasol Limited (NYSE:SSL)

SSL Lawsuit on behalf of: investors who purchased March 10, 2015 – January 13, 2020
Lead Plaintiff Deadline : April 6, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/sasol-limited-loss-form?prid=5524&wire=1

According to the filed complaint, during the class period, Sasol Limited made materially false and/or misleading statements and/or failed to disclose that: (i) Sasol had conducted insufficient due diligence into, and failed to account for multiple issues with, the Lake Charles Chemicals Project ("LCCP"), as well as the true cost of the project; (ii) construction and operation of the LCCP was consequently plagued by control weaknesses, delays, rising costs, and technical issues; (iii) these issues were exacerbated by Sasol's top-level management, who engaged in improper and unethical behavior with respect to financial reporting for the LCCP and the project's oversight; (iv) all the foregoing was reasonably likely to render the LCCP significantly more expensive than disclosed and negatively impact the Company's financial results; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

Qudian Inc. (NYSE:QD)

QD Lawsuit on behalf of: investors who purchased December 13, 2018 – January 15, 2020
Lead Plaintiff Deadline : March 23, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/qudian-inc-loss-form?prid=5524&wire=1

According to the filed complaint, during the class period, Qudian Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) regulatory developments in China threatened to negatively impact Qudian's fiscal full year 2019 ("FY19") financial results; (ii) Qudian's business was unprepared to mitigate the risks associated with these regulatory changes; (iii) as a result, Qudian's loan portfolio was plagued by growing delinquency rates; (iv) all of the foregoing made Qudian's repeated assertions concerning its FY19 financial guidance unrealistic; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

Luckin Coffee Inc. (NASDAQ:LK)

LK Lawsuit on behalf of: investors who purchased November 13, 2019 – January 31, 2020
Lead Plaintiff Deadline : April 13, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/luckin-coffee-inc-loss-form?prid=5524&wire=1

According to the filed complaint, during the class period, Luckin Coffee Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) certain of Luckin's financial performance metrics, including per-store per-day sales, net selling price per item, advertising expenses, and revenue contribution from "other products" were inflated; (ii) Luckin's financial results thus overstated the Company's financial health and were consequently unreliable; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

ReleaseID: 577999

Gold Stocks Move Higher After CDC Comments; 5 To Watch

CORAL GABLES, FL / ACCESSWIRE / February 26, 2020 / The top website for all things gold stocks, GoldStocks.com just released a new & exclusive article titled: Gold Stocks Gain As Virus Fears Grow. The team at GoldStocks.com talks about top gold stocks to watch after the latest round of commentary from the CDC.

Within this article, GoldStocks.com discusses how: "U.S. stock futures flip-flopped on Wednesday triggering bullish sentiment in gold stocks. Both the European and Asian markets dropped as investors grew more concerned over new information on the expanding coronavirus cases. This week the S&P has dropped nearly 2,000 points causing panic in the stock market. While the gold sector took a back seat on Tuesday, Gold Futures have rebounded during early trading on February 26. Meanwhile, cases continue to spread across the world. The CDC has warned that it's not a matter of if but when the spread will hit the greater United States. As investors continue to brace for an unknown impact, gold stocks remain in the spotlight. With that in mind, here's a list of gold stocks to watch right now including Harmony Gold Mining Company Limited (NYSE:HMY) (click here for the full article)

Read the article from GoldStocks.com titled: Gold Stocks Gain As Virus Fears Grow <<< Click Here

Gold Stocks (GoldStocks.com)

GoldStocks.com is the best place to find the top gold stocks to buy, a full list of gold stocks and mining stock news, articles & information. Mining stocks and Gold Stocks are off to a very strong start in 2020 and are expected to continue their bullish run. Subscribe, to our Free Gold Stocks Newsletter and stay updated on the top gold stocks picks, exclusive articles, gold stock alerts and mining company news.

CONTACT:

Name: Adam Lawrence
Email: news@goldstocks.com
Phone: (305) 390-2368

Legal Disclaimer

Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MIDAM VENTURES LLC, which owns www.GoldStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. Please Read Our Full Disclosure Located Here: https://goldstocks.com/disclaimer/

SOURCE: GoldStocks.com

ReleaseID: 577996