Posted by AGORACOM-JC
at 1:22 PM on Friday, November 29th, 2019
SPONSOR: CardioComm Solutions (EKG: TSX-V)
– The heartbeat of cardiovascular medicine and telemedicine. Patented
systems enable medical professionals, patients, and other healthcare
professionals, clinics, hospitals and call centres to access and manage
patient information in a secure and reliable environment.
21st Century Cures Act’s Authors to Focus on mHealth in Cures 2.0
A second iteration of the landmark 21st Century Cures Act, which was
passed in 2016, will set its sights on support for mHealth technology,
like digital therapeutics, to improve care management.
Reps. Fred Upton and Diana DeGette, who helped usher the original bill to passage in 2016, have issued a “Call to Action†for what they’re calling Cures 2.0. And they’re focusing much of their efforts on connected health platforms that will “modernize coverage and access to life-saving cures in the United States and across the globe.â€
“We believe that digital health technologies hold the promise of
modernizing U.S. health care in ways that transform how Americans access
medical services,†Upton, a Republican from Michigan, and Degette, a
Democrat from Colorado, said in a recent bulletin.
“Digital technologies have helped to transform other sectors of the
U.S. economy in ways that improve access to products and services and
decrease their costs without harming quality. It is time for that same
transformation to occur in health care.â€
“Recognition of digital platforms as sources of medical services
combined with reforms to how digital products may be covered and
reimbursed for by payers such as Medicare will be critical to realizing
this potential,†they added.
Other aspects of Cures 2.0, the lawmakers said, would target improved
Medicare coding, coverage and payment for digital health, better
methods for collecting and using real world evidence, and improvements
in how families and caregivers can aid in care management.
Signed into law by President Barack Obama at the end of 2016, 21st Century Cures, targeted, for a large part, various healthcare industry initiatives
aimed at improving treatment for conditions like cancer and Alzheimer’s
disease. It also called for more effective use of electronic health
records and health information technology.
Specifically, the bill called for the Secretary of Health and Human
Services to “establish a goal with respect to the reduction of
regulatory or administrative burdens (such as documentation
requirements) relating to the use of electronic health records,†and
subsequently create a strategy to achieve such a goal.
Additionally, it asked the Office of the National Coordinator for
Health Information technology to work on progressing certified EHR
technology and health IT, specifically in the realm of information
blocking. By making clear distinctions about what constitutes
information blocking as well as consequences for the practice, ONC will
play its role to improve healthcare technology use.
The bill included funding to use health data to drive cures,
allocating $4.8 billion to the National Institutes of Health to be split
among different goals: $1.8 billion will go toward the Cancer Moonshot,
$1.4 billion will fund the Precision Medicine Initiative, and $1.6 billion will go toward the BRAIN Initiative which contributes Alzheimer’s research.
And it allocated $500 million to the US Food and Drug Administration
to streamline the regulation of certain drugs and $1 billion in grants
to help fight the opioid crisis.
With Cures 2.0, Upton and DeGette want o pay more attention to how
technology can be used to improve care management. They’ve set a
December 16 deadline for comments on those topics, as well as
suggestions for other reforms.
Posted by AGORACOM-JC
at 1:56 PM on Thursday, November 28th, 2019
SPONSOR: CardioComm Solutions (EKG: TSX-V)
– The heartbeat of cardiovascular medicine and telemedicine. Patented
systems enable medical professionals, patients, and other healthcare
professionals, clinics, hospitals and call centres to access and manage
patient information in a secure and reliable environment.
Mhealth Tools Help Providers Access Data When They Most Need It
Healthcare providers are using mHealth platforms to access and
transmit vital health data from the field – including accident sites,
homes and ambulances – back to the ED, and vice versa.
Moving forward (literally), telehealth advocates see ambulances and
other rescue vehicles as more than transportation, but rather,
extensions of the hospital. Armed with mHealth and telemedicine
technology, they can replicate the ED and begin treatment long before
the patient transfers into the hospital
With mobile devices like smartphone, tablets, laptops and even wearable devices
that can gather and transmit information at a moment’s notice, health
systems are finding new ways to improve care in the field, whether it be
an accident site, someone’s home or the ambulance.
November 27, 2019 – Healthcare providers are finding that mHealth can
help them better prepare for and treat critical care patients coming
into their Emergency Department
At King’s Daughters Medical Center in Brookhaven, MS, first responders are using an mHealth platform
from DrFirst called Backline, which enables them to scan the barcode on
a patient’s driver’s license to access six months’ worth of medication
history. The tool gives EMS providers a better understanding of the
healthcare needs of a patient, especially one who’s unconscious or
unable to remember his or her medication history.
“You can’t get a history from a patient who isn’t responsive,†says
Lee Robbins, director of emergency medical services at the 99-bed
community hospital. “In the past, we could only get information from
(patients) who are awake or are willing to give us that information.
Knowing this information gives us a much better chance at a good
outcome.â€
In addition, EMS providers can use the connected health platform to
send that data back to the hospital, giving ED and trauma staff a better
idea of what that patient will need. That’s valuable time they can use
to update the patient’s chart or order tests, such as CT scans or
electrocardiograms.
“Time is very important – minutes or even seconds can have an impactâ€
on a patient’s life, says Robbins, who would like to see tools like
this integrate with the hospital’s EMR platform and include real-time
communication between first responders and the hospital.
At Montefiore St. Luke’s Cornwall Hospital in Newburgh, NY, meanwhile, care providers are using an mHealth app called PreDX
to get alerts on opioid abuse outbreaks in their community. When a
number of overdoses or other data points is detected in a cluster by the
platform, they’ll know to alert and prepare first responders as well as
the ED.
“If we get that information on the front line, then we can mobilize,â€
says Kathleen Sheehan, the hospital’s director of emergency and trauma
services. “It gives us a better chance to respond to an emergency and
treat these people more quickly.â€
With mobile devices like smartphone, tablets, laptops and even wearable devices
that can gather and transmit information at a moment’s notice, health
systems are finding new ways to improve care in the field, whether it be
an accident site, someone’s home or the ambulance.
But as with all other telehealth programs, the key lies in making
sure the right information is gathered and sent to the right recipient.
Information on opioid abuse or disease outbreaks will only help
providers if they know what outbreak to address, and medication data
sent from the ambulance to the ED will help providers if that medication
history has a chance of interfering with care.
For example, a male patient being transported to a hospital might not
readily admit that he’s taking Viagra or Cialis, yet those medications
contain sildenafil and tadalafil, which could cause one’s blood pressure
to drop excessively if a paramedic uses nitroglycerin to treat chest
pain. A quick scan of the patient’s medication history would prevent
that from happening.
Moving forward (literally), telehealth advocates see ambulances and
other rescue vehicles as more than transportation, but rather,
extensions of the hospital. Armed with mHealth and telemedicine
technology, they can replicate the ED and begin treatment long before
the patient transfers into the hospital.
“Any tool that we can use that improves patient safety, care quality and patient experience is a positive,†says Robbins.
Posted by AGORACOM-JC
at 11:45 AM on Thursday, November 28th, 2019
SPONSOR: BetterU Education Corp.
aims to provide access to quality education from around the world.
The company plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by developing
an integrated ecosystem. Click here for more information.
The Digital Learning Revolution: How Classes are Moving Out Of The Classroom
Indian classrooms are growing in numbers every day, and the overburdened teachers are unable to bridge the learning gap experienced by individual students
Edtech tools are the best solution to ensure accessibility of quality education in our country, and its growing demand across the student community validates this stance
In fact, India has become the third-largest market for online education, with trends such as P2P collaborative learning systems becoming the latest rage in the domain of education and learning
By: Michał Borkowski
Every learning process has two principal stakeholders—students and
teachers, or as we like to call them learners and helps—and two
fundamental engagement tools, questions and answers. Learning processes
essentially can be centered on either the teacher or the student, but
the outcomes they result in are drastically different. The didactic
learning process wherein the teacher occupied the central role and the
student was merely a blank slate (Tabula Rasa) was a monotonous and regimented affair, relying solely on the transfer of knowledge from a teacher to a student.
Opposed to it, the new-age online learning method which has its roots
in the revolutionary teaching methods of Socrates, the ancient Greek
logician and thinker, has turned the very nature of learning inside out.
It proposes a student centered mode of learning wherein the visible
demarcations of master and disciple are essentially blurred and both
exist as equal stakeholders.
Onlinelearning—A solution tailor-made for the Indian academia
Indian classrooms are growing in numbers every day, and the
overburdened teachers are unable to bridge the learning gap experienced
by individual students. Edtech tools are the best solution to ensure
accessibility of quality education in our country, and its growing
demand across the student community validates this stance. In fact,
India has become the third-largest market for online education, with
trends such as P2P collaborative learning systems becoming the latest
rage in the domain of education and learning.
Technology and new-age tools have practically reformed the existing
learning framework. Now, teachers, students and parents simultaneously
interact in a cohesive union, relentlessly pursuing knowledge through an
active collaboration of ideas and critical faculties. This empowers the
students to be their own masters by equipping them with a customized
and practical form of education and allows them to exercise control over
their learning which would help them better in terms of practical and
real-time application. When learners get to assert better control over
their learning experience, they are likely to take a more proactive
stance towards the same, ultimately resulting in better outcomes.
The education system in India has long suffered from inherent flaws
and inadequacies owing to its direct and continued formal dependency on
the colonial education system which stresses on ineffective rote
learning and representing facts on paper without practical realization.
But things are fast changing. Online education has really picked up pace
as over 370 million Internet users and countless more localized and
global entrepreneurs are readily investing in the online education
market. By 2018, India had 3,500 edtech start-ups running operations
across the country.
Replacing standardization with personalization
Going beyond the conventional one-way process, digital platforms
allow users to overcome the limits of time and space, as a learner could
now access evaluate and assess information from anywhere at any time,
as long as one has an Internet connection and an inclination to learn.
Since every individual possesses a unique mental aptitude and grasping
level and one can learn at a pace that best suits them through such
platforms. These platforms empower every individual to grasp knowledge
at a personal customized pace which makes learning easy and desirable
rather than a sordid task at hand which one dreads and undertakes
unwillingly.
Edtech platforms also serve as a single platform for every
stakeholder in education to come together. They celebrate the uniqueness
and individuality of every student by bringing all the elements of the
classroom—the teachers, the students and the parents in an organic
unison. The spirit of doubt, curiosity and creativity are now encouraged
which has brought about massive changes in the hitherto predefined
dimensions of knowledge. These platforms further allow the learning
process to continue at home through uninterrupted assistance and
guidance. The teacher no longer has to be physically present to tutor
the child whenever they get stuck on a particular problem or a tricky
lesson.
Today, the e-learning market in India is approximated to be worth
more than three billion dollars. The National Draft Education Policy,
2019 also lays significant emphasis on increasing the penetration of
technology in all aspects of education. Although formal education
structure still holds the same relevance, the very manner of its
proliferation has undergone a monumental change owing to the rise of
digital learning. Digital edtech tools have reduced the workload on
teachers, who now thrive in their new role as a catalyst of change that
proactively engages and enables the students to acquire knowledge from
multiple sources.
When students are allowed to become their own masters and be
responsible for the supervision of their learning experience, it
initiates the formation of an informed and empowered society that prizes
questioning over obedience and intelligence over authority. Online
learning platforms have indeed done away with the space-time
restrictions of classrooms and empowered the primary stakeholder in
learning, i.e. the learner itself, in a manner that would surely have
made Socrates proud.
Posted by AGORACOM-JC
at 10:12 AM on Thursday, November 28th, 2019
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
Consumers research CBD more than many other wellness trends, study finds
American consumers are researching CBD more than many other alternative health trends and products, according to a new study looking at Google searches.
Health scientists from the University of California, San Diego, Johns
Hopkins University in Baltimore and the University of York in the
United Kingdom measured U.S. Google searches that mentioned CBD and
cannabidiol from 2004 through April of this year.
The study found that while search volumes were consistent from 2004
to 2014, they began to grow significantly in 2016. Search volumes
increased year-over-year by 125.9% in 2017 and 160.4% in 2018, and they
are expected to be 117.7% higher in 2019.
In April 2019, there were 6.4 million Google searches for CBD, the
researchers wrote in an American Medical Association journal detailing
their findings.
The April 2019 searches for CBD were on par with yoga and
e-cigarettes but seven times more prevalent than acupuncture, five times
higher than apple cider vinegar and three times more than meditation.
CBD searches also outnumbered searches for:
Vaccination
Exercise
Marijuana
Veganism
Researchers broke down the results by state. Searches for CBD this
year were highest in Vermont, Wisconsin, Tennessee, Colorado, New
Hampshire and Oregon.
Posted by AGORACOM-JC
at 7:19 AM on Thursday, November 28th, 2019
Company reported revenues of $1,683,985 compared to $589,648, up by 186%.
For the nine months operations, the Company reported revenues of $2,559,068 compared to $1,872,944, up by 37%.
Company’s cash position improved significantly, $812,853 compared to $66,296 in the previous quarter.
TORONTO, Nov. 28, 2019 — Datametrex AI Limited (the “Company†or “Datametrexâ€) (TSXV: DM) (FSE: D4G) (OTC: DTMXF) today released its financial results for the third quarter ended September 30, 2019. The Company’s cash position improved significantly, $812,853 compared to $66,296 in the previous quarter. In this quarter, the Company reported revenues of $1,683,985 compared to $589,648, up by 186%. For the nine months operations, the Company reported revenues of $2,559,068 compared to $1,872,944, up by 37%. Operating costs were significantly reduced, $1,034,071 compared to $2,192,822 in the third quarter, down by 53%.
“In Q3 2019, the Company achieved key milestones and made significant
strides in strengthening its AI platform and offering. Increased sales
and significant reduction in operating costs attributed substantial
improvement in the bottom line,†said Marshall Gunter, the Chief
Executive Officer of the Company.
Further commenting on the Q3 2019 results, Jeff Stevens, President of
the Company stated “Datametrex was recently featured on CTV for its
latest findings. The company’s proven technology sees tremendous
opportunity across the North American and Asian markets where it is
gaining wide acclaim. These markets have the potential to drive strong
revenue across a variety of multinationals.â€
“We are pleased with the improvements year over year and remain
committed to increasing sales. Reducing costs and streamlining
operations will position the Company for continued growth. The article published by Nicole Bogart of CTV further validates and substantiates our technology in the cyber security sector,†says Marshall Gunter, CEO of the Company.
Highlights for Q3 2019:
The Company was successful in securing
the second contract of a multi phase R&D program through the
Department of National Defence’s Innovation for Defence Excellence and
Security (IDEaS) program with a value of approximately $945,094.
The Company was successful in software
licencing contract with GreenInsightz Limited for the use of its
proprietary Nexalogy’s Artificial Intelligence software platform for a
value of approximately $1 million in cash and shares.
The Company was successful in securing another contract with a division of Lotte for approximately $1,000,000.
The Company participated in NATO Research Task Group in Paris, France.
Promoted Marshall Gunter to Chief Executive Officer.
Financial Highlights
The following table reconciles income from operations to EBITDA and
Adjusted EBITDA for the three and nine months ended September 30, 2019
and September 30, 2018:
Three months ended Sep. 30,
Nine months ended Sep. 30,
2019
2018
2019
2018
$
$
$
$
Revenue
1,683,985
589,648
2,559,068
1,872,944
Net loss
(695,803
)
(15,236,076
)
(2,612,556
)
(18,165,683
)
EBITDA*
(539,115
)
(14,350,712
)
(2,092,871
)
(15,709,824
)
Adjusted EBITDA*
(539,115
)
(1,422,731
)
(2,092,871
)
(1,565,323
)
EBITDA per share*
(0.002
)
(0.072
)
(0.009
)
(0.079
)
* Note: EBITDA and Adjusted EBITDA are non-GAAP/IFRS figures.
“EBITDA†represents net income plus income tax, finance expense and
depreciation. “Adjusted EBITDA†represents EBITDA plus share-based
compensation and one-time costs. “Adjusted Net Income†represents net
income plus one-time finance expenses.
The Company believes that Adjusted EBITDA is useful additional
information to management, the board and investors as it provides an
indication of the operational results generated by its business
activities prior to taking into consideration how those activities are
financed and taxed and also prior to taking into consideration asset
depreciation and amortization and it excludes items that could affect
the comparability of our operational results and could potentially alter
the trends analysis in business performance. Excluding these items does
not necessarily imply they are non-recurring, infrequent or unusual.
Adjusted EBITDA is also used by some investors and analysts for valuing a
company. Investors are cautioned that Adjusted EBITDA should not be
construed as an alternative to operating earnings or net earnings
determined in accordance with IFRS as an indicator of the Company’s
financial performance or as a measure of the Company’s liquidity and
cash flows. Adjusted EBITDA does not take into account the impact of
working capital changes, capital expenditures, debt principal reductions
and other sources and uses of cash, which are disclosed in the
consolidated statements of cash flows.
Non-GAAP financial measures do not have standardized meaning
prescribed by GAAP and are therefore unlikely to be comparable to
similar measures presented by other companies. Specific items may only
be relevant in certain periods. For reconciliation of non-GAAP financial
measures please refer to the Company’s Management Discussion and
Analysis for the period ended June 30, 2019.
The financial statements, notes to the financial statements and
Management’s Discussion and Analysis for the nine-month period ended
September 30, 2019 are available on SEDAR at www.sedar.com.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with exposure
to Artificial Intelligence and Machine Learning through its wholly owned
subsidiary, Nexalogy (www.nexalogy.com).
Additional information on Datametrex is available at: www.datametrex.com
For further information, please contact:
Jeffrey Stevens – President Phone: (647) 777-7974 Email: [email protected]
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
This news release contains “forward-looking statements†within
the meaning of the United States Private Securities Litigation Reform
Act of 1995 and applicable Canadian securities legislation. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as “plansâ€, “anticipatedâ€, “expects†or
“does not expectâ€, “is expectedâ€, “budgetâ€, “scheduledâ€, “estimatesâ€,
“forecastsâ€, “intendsâ€, “anticipates†or “does not anticipateâ€, or
“believesâ€, or variations of such words and phrases or state that
certain actions, events or results “mayâ€, “couldâ€, “wouldâ€, “might†or
“will be takenâ€, “occur†or “be achievedâ€. The Company is subject to
significant risks and uncertainties which may cause the actual results,
performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by the forward
looking statements contained in this release. Datametrex cannot assure
investors that actual results will be consistent with these forward
looking statements and Datametrex assumes no obligation to update or
revise the forward looking statements contained in this release to
reflect actual events or new circumstances.
Posted by AGORACOM-JC
at 5:06 PM on Wednesday, November 27th, 2019
SPONSOR: Iconic Minerals Ltd. ICM:TSX-V Bonnie Claire Lithium Property hosts Inferred resource of 11.8 billion pounds of lithium carbonate equivalent and has the potential to be the largest lithium resource globally. Learn More.
Better battery tech could boost EV range, speed up charging
At least if battery manufacturers can keep up with demand as electric power expands.
Battery demand is surging as conventional automakers catch EV religion
Along with US automakers, German giant Volkswagen now has a massive EV push
Ford’s first electric SUV, the Mustang Mach-E, arrives next year, and it shows just how far we’ve come with EVs. Mainstream carmakers like Nissan, General Motors, BMW, Hyundai, Jaguar and Porsche are filling a field that once belonged to counterculture icon Tesla. And better batteries should keep the new models coming.
At the IDTechEx conference
this week, startups showed off new battery technology that improves on
today’s lithium-ion designs. The developments increase driving range,
cut costs, extend useful lifespan, speed up charging and reduce fire
risks. That’ll continue the kind of steady progress that’s more common
in the computer industry than the car industry.
For now, the improvements are mostly in labs, and many of them won’t
arrive until well into the next decade. But they’re an important
foundation for the dreams of EV proponents, who want to see conventional
cars that belch greenhouse gases replaced by cleaner, quieter
electrics. Once passenger cars are plug-in, expect to see electric trucks, tractors, excavators, buses and even airplanes.
Burgeoning battery startups
The most important battery improvement is in energy density, the
amount of kilowatt-hours of juice that can be stored in a given mass.
That can extend range, cut battery costs and reduce vehicle weight,
which in turn improves range. Startups are racing to achieve that and
other improvements through changes to anodes, cathodes and other
components.
Enevate, an Irvine,
California-based startup whose investors include battery giant LG Chem,
expects more storage capacity and dramatically faster charging. The
company sees charging times dropping to just five minutes for a
three-quarter charge. Conventional gas stations could be converted into
“drive-through charging stations,” Executive Vice President Jarvis Tou
said.
Another, Solid Battery,
plans solid-state cells that do away with liquid elements and increase
energy density by 50%, according to Chief Executive Douglas Campbell.
His company’s approach has “the best blend of performance and
manufacturability” and boosts safety, and BMW and Ford have development
agreements with the company, he said.
Global Graphene Group
also plans to improve batteries by encasing silicon in the anode with
graphene, an exotic form of carbon sheets only one atom thick. The
result, according to CEO Bor Jang, a longtime graphene researcher, will
be batteries costing 30% less and powering EVs with a 700-mile range.
Jang expects those batteries can be fully charged in five to 15 minutes.
“The demand is going to be enormous,” IDTechEx analyst Peter Harrop said of vehicle batteries. “We keep revising our forecasts upwards.”
Battery demand is surging as conventional automakers catch EV
religion. Along with US automakers, German giant Volkswagen now has a
massive EV push. And Japan’s Toyota, taken by surprise when EV demand
grew faster than it expected, is pushing battery-powered car development and working on battery supply deals.
Electric vehicle sales should increase
from 2 million in 2018 to 10 million in 2025, BloombergNEF forecasts.
No wonder Tesla, which just announced its Cybertruck pickup on Thursday,
is working on building its own batteries.
Analyst firm IDTechEx expects electric vehicles used for
construction, agriculture and mining to outsell electric passenger cars.
IDTechEx; photo by Stephen Shankland/CNET
Rising costs could slow the spread of electric power to all sorts of
other industries, too, like construction, agriculture, mining, mass
transit and aircraft.
Battery progress will help all these new industries become greener
and quieter only if all that extra energy can be squeezed more tightly
into cells without increasing risks of fires and explosions. Lithium-ion
battery fires grounded Boeing’s early 787 Dreamliner aircraft, and there have been problems in large batteries for grid-scale energy storage because of insufficient testing, Harrop said.
“The industry is cutting corners in the race to get energy density,
faster charging and longer cycle life,” Harrop said. “The fires will
continue.”
Electric aircraft, too
Still, many companies, like French aerospace giant Airbus and US rival Boeing, believe batteries are coming.
Startup Ampaire is banking on a
hybrid aircraft that marries conventional fuel-powered engines with
battery-powered motors for propeller-powered aircraft common on
short-haul routes. They’ll be much quieter at takeoff and will cut fuel
use, a major constraint for short flights that are canceled when fuel
costs increase, said Pete Savagian, the company’s senior vice president
of engineering.
A larger scale hybrid due in 2021, the Airbus E-Fan X
prototype jet will swap out one of its four conventional jet engines
with a 2-megawatt electric motor, said Bruno Samaniego López, a power
and electrical engineering leader at the company. A new single-aisle jet
with 20MW of electrical power is planned after that, he adds.
“We are very committed to this ambitious path of electrification,”
Samaniego López said. “It is happening, and it will be the future.”
Posted by AGORACOM-JC
at 1:28 PM on Wednesday, November 27th, 2019
91% increase in revenues to $2.1MM for the quarter over the same period in 2018
gross margin of 45% representing an increase of 22% over the same period in Q3 2018
492% increase in backlog to $29.5MM over Q2 2019 ($6MM)
MONTREAL, Nov. 27, 2019 — PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company (the “Company”, the “Corporation†or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce today its financial and operational results for the third quarter ended September 30, 2019.
“The 492% increase in backlog to $29.5MM at the end of Q3, from $6MM
at the end of Q2, signals the beginning of the long-awaited breakout
that we have been anticipating,†said Mr. P. Peter Pascali, President
and CEO of PyroGenesis. “Separately, the $13.5MM US Navy Contract has
also gained momentum in the second half of 2019, which we expect will
also be added to the backlog soon. Notwithstanding some minor delays,
2019 is turning out to be all that we had expected it to be.â€
Q3, 2019 results reflected the following highlights:
91% increase in revenues to $2.1MM for the quarter over the same period in 2018,
gross margin of 45% representing an increase of 22% over the same period in Q3 2018,
492% increase in backlog to $29.5MM over Q2 2019 ($6MM),
a modified EBITDA loss of $614K compared to a Modified EBITDA loss of $1.6MM over the same period in Q3 2018,
fair value of investments increased to $70,717, versus a decrease of
$756,750 over the same period in Q3 2018 an increase of $827,467.
The following is an overview of PyroGenesis’ quarterly results.
Outlook
The second half of 2019 has seen the beginning of the long awaited
breakout that we have been anticipating ever since the Company embarked
on a strategy, in 2017 and 2018, to (i) develop two new business lines
and partner with multi-billion-dollar corporations to effectively
accelerate commercialization in these new segments, and (ii) focus on
recurring revenue streams in all business lines.
In the second half of 2019, the Company successfully increased
backlog of signed contracts by approximately 500% to $29.5MM from $6MM
at the end of Q2 2019. The cash flow from this increased backlog is
expected within Q4 2019.
Separately, the long-anticipated US Navy contract for two PAWDS
systems, with approx. $13.5MM in anticipated revenues over 18 months,
has also gained momentum in the second half of 2019. After a period in
which only the longest lead items were contracted for by the US Navy,
PyroGenesis’ PAWDS system’s turn in the queue arrived. We are happy to
report that, as of this writing, the Company recently completed the last
formal steps before final procurement.
With this additional contract in hand, and the resultant backlog in
excess of $40MM, the Company will be well positioned to then embark on
previously announced projects specifically aimed at increasing
shareholder value (up-listing, spin-offs, and stock buy-back
initiatives), which could not have started in earnest until the stock
reacted to the news of these contracts. Once the above-mentioned
contracts have been successfully signed, with deposits received, the
resultant effect on the Company’s valuation can be determined, as this
will play a significant role in dictating the optimum strategy to
execute.
Separately, the Company will now also focus on accelerating paying
projects which had been delayed as a result of the Company’s decision to
divert assets from such projects to those non-paying efforts which
resulted in winning these breakout contracts.
In addition to the above developments, there are several smaller
projects the Company is pursuing (for instance the Swedish torch
transaction geared towards iron ore pelletization) which are very
promising in their own right and should get traction over the next 12
months.
In short, 2019 is turning out to be all that it had been billed to
be, and events are developing in such a way as to make 2019 the first of
many years which will bear the fruit of strategic decisions made in the
recent past.
Financial Summary
Revenue
PyroGenesis recorded revenue of $2,097,437 in the third quarter of
2019 (“Q3 2019â€), representing an increase of 91% compared with
$1,097,726 recorded in the third quarter of 2018 (“Q3 2018â€). Revenues
recorded in Q3 2019 were generated primarily from:
(i)
PUREVAP™ related sales of $328,733 (2018 – $2,249,859),
(ii)
torch related sales of $1,932,353 (2018 – $Nil),
(iii)
the development and support related to systems supplied to the U.S. Military for $500,946 (2018 – $825,151).
Cost of Sales and Services and Gross Margins
Cost of sales and services before amortization of intangible assets
was $1,145,080 in Q3 2019, representing an increase of 35% compared with
$845,575 in Q3 2018.
In Q3 2019, employee compensation and subcontracting decreased to
$514,203 compared to 746,054 in Q3 2018, while the cost of direct
materials and manufacturing overhead & other increased to $731,319
(Q3, 2018 – $187,796).
The gross margin for Q3 2019, was $947,090, or 45% of revenue. This
compares with a gross margin of $252,151 (23% of revenue) for Q3 2018.
As a result of the type of contracts being executed, the nature of
the project activity had a significant impact on the gross margin and
the overall level of cost of sales and services reported in a period, as
well as the composition of the cost of sales and services, as the mix
between labour, materials and subcontracts may be significantly
different.
The amortization of intangible assets of $5,267 in Q3 2019 and $Nil
for Q3 2018 relates to patents and deferred development costs. Of note,
these expenses are non-cash items and will be amortized over the
duration of the patent lives.
Selling, General and Administrative Expenses
Included within Selling, General and Administrative expenses
(“SG&Aâ€) are costs associated with corporate administration,
business development, project proposals, operations administration,
investor relations and employee training.
SG&A expenses for Q3 2019 excluding the costs associated with
share-based payments (a non-cash item in which options vest over a
four-year period), were $1,485,803, representing a decrease of 12%
compared with $1,696,158 reported for Q3 2018.
The decrease in SG&A expenses in Q3 2019 over the same period in 2018 is mainly attributable to the net effect of:
a decrease of 14% in employee compensation,
a decrease of 21% for professional fees, primarily due to a decrease in consulting fees,
a decrease of 63% in office and general expenses, is primarily due
to the reclassification of rent expense to depreciation right of use
assets,
travel costs increased by 107%, due to an increase in travel abroad,
depreciation on property and equipment increased by 4% due to higher amounts of property and equipment being depreciated,
depreciation on right of use assets increased by 100% due to
reclassification of rent expense to depreciation right of use assets,
investment tax credits increased by 100% due to the investment tax
credits being recorded against the respective expenses in cost of goods
sold, selling and general expenses and research and development expenses
versus all of the investment tax credits of Q3 2018 being recorded
against cost of goods sold only,
government grants decreased by 16% due to lower level of activities supported by such grants and,
other expenses decreased by 38%, primarily due to a decrease in costs of freight and shipping.
Separately, share based payments decreased by 93% in Q3 2019 over the
same period in 2018 as a result of the vesting structure of the stock
option plan including the stock options granted in 2018.
Research and Development (“R&Dâ€) Costs
The Company incurred $236,535 of R&D costs in Q3 2019, compared
with $177,405 in Q3 2018, representing an increase of 33%. The increase
in Q3 2019 is related to torch development and plasma atomization
related expenses.
In addition to internally funded R&D projects, the Company also
incurred R&D expenditures during the execution of client funded
projects. These expenses are eligible for Scientific Research and
Experimental Development (“SR&EDâ€) tax credits. SR&ED tax
credits on client funded projects are applied against cost of sales and
services (see “Cost of Sales†above).
Net Comprehensive Loss
The net comprehensive loss for Q3 2019 of 965,032 compared to a loss
of $2,758,835 in Q3 2018, represents a decrease of 65% year-over-year.
The increase of $1,793,803 in the comprehensive loss in Q3 2019 is
primarily attributable to the factors described above, which have been
summarized as follows:
(i)
an increase in product and service-related revenue of $999,711 arising in Q3 2019,
(ii)
an increase in cost
of sales and services totaling $304,772, primarily due to an increase
in direct materials and manufacturing overhead and other,
(iii)
a decrease of
SG&A expenses of $399,590 arising in Q3 2019 is primarily due to a
decrease in office and general, other expenses, professional fees and
employee compensation,
(iv)
an increase in R&D expenses of $59,130 primarily due to an increase in materials and equipment and subcontracting,
(v)
a decrease in net finance costs of $758,404 in Q3 2019, primarily due to the fair value adjustment of investments.
EBITDA
The EBITDA loss in Q3 2019 was $556,963 compared with an EBITDA loss
of $2,538,215 for Q3 2018, representing a decrease of 78%
year-over-year. The $1,981,252 decrease in the EBITDA loss in Q3 2019,
compared with Q3 2018, is due to the decrease in comprehensive loss of
$1,793,803, an increase in depreciation on property and equipment of
$1,627, an increase in depreciation of right of use assets of $111,492,
an increase in amortization of intangible assets of $5,267 and an
increase in finance charges of $69,063.
Adjusted EBITDA loss in Q3 2019 was $542,814 compared with an
Adjusted EBITDA loss of $2,334,831 for Q3 2018. The decrease of
$1,792,017 in the Adjusted EBITDA loss in Q3 2019 is attributable to a
decrease in EBITDA loss of $1,981,252 and a decrease of $189,235 in
share-based payments.
Modified EBITDA loss in Q3 2019 was $613,531 compared with a Modified
EBITDA loss of $1,578,081 for Q3 2018, representing a decrease of 61%.
The decrease in the Modified EBITDA loss in Q3 2019 is attributable to
the decrease as mentioned above in the Adjusted EBITDA loss of
$1,792,017 and a decrease in the change of fair value of investments of
$827,467.
Liquidity
The Company has incurred, in the last several years, operating losses
and negative cash flows from operations, resulting in an accumulated
deficit of $55,163,886 and a negative working capital of $8,509,212 as
at September 30, 2019 (December 31, 2018 – $51,066,540 and $4,101,428
respectively). Furthermore, as at September 30, 2019, the Company’s
current liabilities and expected level of expenses for the next twelve
months exceed cash on hand of $276,067 (December 31, 2018 – $644,981).
The Company has relied upon external financings to fund its operations
in the past, primarily through the issuance of equity, debt, and
convertible debentures, as well as from investment tax credits.
Revenue generated from active projects does not yet produce
sufficient positive cash flow to fund operations. However, based on
current backlog of $29.5MM at November 27, 2019, together with the
pipeline of prospective new projects, cash flow from operations are
expected to become positive in the very near future.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is the world leader in
the design, development, manufacture and commercialization of advanced
plasma processes and products. We provide engineering and manufacturing
expertise, cutting-edge contract research, as well as turnkey process
equipment packages to the defense, metallurgical, mining, advanced
materials (including 3D printing), oil & gas, and environmental
industries. With a team of experienced engineers, scientists and
technicians working out of our Montreal office and our 3,800 m2
manufacturing facility, PyroGenesis maintains its competitive advantage
by remaining at the forefront of technology development and
commercialization. Our core competencies allow PyroGenesis to lead the
way in providing innovative plasma torches, plasma waste processes,
high-temperature metallurgical processes, and engineering services to
the global marketplace. Our operations are ISO 9001:2015 and AS9100D
certified, and have been since 1997. PyroGenesis is a publicly traded
Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR)
and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com.
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward- looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Corporation’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Corporation with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time in
the Corporation’s ongoing filings with the securities regulatory
authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com.
Actual results, events, and performance may differ materially. Readers
are cautioned not to place undue reliance on these forward-looking
statements. The Corporation undertakes no obligation to publicly update
or revise any forward- looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Neither the TSX Venture Exchange, its
Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) nor the OTCQB accepts responsibility for the
adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact: Rodayna Kafal, Vice President Investors Relations and Strategic Business Development Phone: (514) 937-0002, E-mail: [email protected] RELATED LINK: http://www.pyrogenesis.com/
Posted by AGORACOM-JC
at 12:56 PM on Wednesday, November 27th, 2019
SPONSOR: Tartisan Nickel (TN:CSE)
Kenbridge Property has a measured and indicated resource of 7.14
million tonnes at 0.62% nickel, 0.33% copper. Tartisan also has
interests in Peru, including a 20 percent equity stake in Eloro
Resources and 2 percent NSR in their La Victoria property. Click her for more information
China to dominate battery metal demand
Demand trends for EV battery metals over the coming years have revealed that China will remain the key driver of direct metals demand
Direct demand for nickel, cobalt and lithium will remain the strongest in China across both the core and bearish case scenarios over the coming years.
By: Molly Hancock
Fitch Solutions’ demand trends for EV battery metals over the coming
years have revealed that China will remain the key driver of direct
metals demand.
The analysis estimates that the indirect growth for cobalt, nickel
and lithium will be the strongest across the EU under the bullish
scenario, which is underpinned by favourable policy assumptions.
However, indirect growth for these three metals will lag behind
across all scenarios in the United States, due to more restrictive EV
policy assumptions based on poor support at the federal level.
Fitch Solutions has divided the geographic demands for battery metals
into direct demand, which refers to demand from any country/region
where battery manufacturing takes place domestically and indirect
demand, which refers to demand from country/regions where EV sales make
stoke demand for batteries containing key metals that are produced.
The direct demand for nickel, cobalt and lithium will remain the
strongest in China across both the core and bearish case scenarios over
the coming years.
The Chinese Government has set ambitious EV targets and we retain a
positive outlook for China’s EV market as intensifying competition from
major vehicle brands will drive down costs and improve choice.
Despite recent subsidy cuts announced in July 2019, price reductions
among automakers and the rolling out of EV sales targets for vehicle
manufacturers will continue to position the Chinese EV market as the
most dynamic in the world.
While the demand growth for nickel, cobalt and lithium will spike in
2023-2025, Chinese carmakers’ strategies relating to EV production
targets generally end in 2025, and EV sales growth and subsequent metals
demand growth will begin to slow from 2025 onwards.
Fitch Solutions also revealed that due to the still-prevalent use of
iron-heavy LFP batteries in China, a bullish case for EV sales and
metals demand would lead to cumulative demand of 415,000 tonnes of iron
from the country over 2019-2028 compared to just 145,000 tonnes in its
bear case scenario.
Under Fitch Solutions’ bullish scenario, the EU will witness the
fastest average growth in indirect demand for cobalt (25.8 per cent
y-o-y), nickel (31 per cent y-o-y) and lithium (27.9 per cent y-o-y) up
to 2028, ahead of China and the US.
According to Fitch Solutions, the reason for this is that EU EV sales
team from a lower base in comparison to the US and China and as such
the potential for growth is higher.
For example, according to Fitch Solutions’ Autos team estimates, EV
sales will amount to over 370,000 units in 2019, compared to 458,000 in
the US and 1.252 million in China.
Within its bullish, base and bearish case scenarios, Fitch Solutions
forecast that the US indirect demand for cobalt, nickel and lithium to
average slower annual growth than in China and the EU over 2019-2028, as
a lack of supportive federal policy will pose obstacles to mass EV
adoption in the country.
In February 2019, the Trump administration announced new standards
that freeze emissions and fuel-efficiency requirements at the 2021
level, loosening previous higher targets and in contrasts to much
stricter regulations implemented by California and adopted by 12 other
states.
Its bullish case for the country assumes that future US government
policy will take a favourable turn towards the EV market, in order to
keep pace with rapidly developing EV segments in China and Europe.
The ongoing use of NCA batteries (containing nickel, cobalt and
aluminium) by Tesla in the US market means that indirect aluminium
demand will remain sustained in this market.
Cumulative indirect aluminium demand from the US EV market in our
bullish scenario will amount to 9800 tonnes over 2019-2028, compared
with to 3300 tonnes in China and 1300 tonnes in the EU.
Posted by AGORACOM-JC
at 10:38 AM on Wednesday, November 27th, 2019
SPONSOR: PRIMO NUTRACEUTICALS INC.
(CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV)
provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
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equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
WHO Report Finds No Public Health Risks Or Abuse Potential For CBD
According to a preliminary WHO report published last month, naturally occurring CBD is safe and well tolerated in humans (and animals), and is not associated with any negative public health effects [PDF].
Experts further stated that CBD, a non-psychoactive chemical found in cannabis, does not induce physical dependence and is “not associated with abuse potential.” The WHO also wrote that, unlike THC, people aren’t getting high off of CBD, either.
By: Janet Burns
A World Health Organization (WHO) report has found no adverse health
outcomes but rather several medical applications for cannabidiol, a.k.a.
CBD, despite U.S. federal policy on this cannabinoid chemical.
According to a preliminary WHO report published last month, naturally
occurring CBD is safe and well tolerated in humans (and animals), and
is not associated with any negative public health effects [PDF].
Experts further stated that CBD, a non-psychoactive chemical
found in cannabis, does not induce physical dependence and is “not
associated with abuse potential.” The WHO also wrote that, unlike THC,
people aren’t getting high off of CBD, either.
“To date, there is no evidence of recreational use of CBD or any
public health related problems associated with the use of pure CBD,”
they wrote. In fact, evidence suggests that CBD mitigates the effects of
THC (whether joyous or panicky), according to this and other reports.
The authors pointed out that research has officially confirmed some positive effects of the chemical, however.
The WHO team determined that CBD has “been demonstrated as an
effective treatment for epilepsy” in adults, children, and even animals,
and that there’s “preliminary evidence” that CBD could be useful in
treating Alzheimer’s disease, cancer, psychosis, Parkinson’s disease, and other serious conditions.
The Herbal Chef CEO and Head Chef Chris Sayegh measures the dose of CBD cannabis extract as he… [+]
In acknowledgement of these kinds of discoveries in recent years, the
report continued, “Several countries have modified their national
controls to accommodate CBD as a medicinal product.”
But the U.S., the report noted, isn’t one of them.
As a cannabis component, CBD remains classified as a Schedule I
controlled substance, meaning it has a “high potential for abuse” in the
federal government’s view. Nevertheless, the “unsanctioned medical use”
of CBD is fairly common, experts found.
For many CBD users in the U.S., the substance’s mostly unsanctioned
and illegal state creates problems, especially as a wave of online
(mostly hemp) and store-bought CBD oils and extracts have allowed
patients to take the treatment process–and the risks involved in buying
unregulated medicine–into their own hands and homes.
While CBD itself is safe and found to be helpful for many users,
industry experts have warned that not all cannabis extracts are created
equally, purely, or with the same methods of extraction.
And while reports of negative reactions to pure CBD are very few and
far between, researchers are able to say that the cannabinoid wouldn’t
be to blame alone. “Reported adverse effects may be as a result of
drug-drug interactions between CBD and patients’ existing medications,”
they noted.
As the cannabis reform nonprofit NORML
reported, the WHO is currently considering changing CBD’s place in its
own drug scheduling code. In September, NORML submitted written
testimony to the U.S. Food and Drug Administration (FDA) opposing the enactment of international restrictions on access to CBD.
The FDA, which has repeatedly declined
to update its position on cannabis products despite a large and
ever-growing body of evidence on the subject, is one of a number of
agencies that will be advising the WHO in its final review of CBD.
Perhaps this time around the FDA will listen, and learn something.
The report was presented by the WHO’s Expert Committee on Drug
Dependence, and drafted under the responsibility of the WHO Secretariat,
Department of Essential Medicines and Health Products, Teams of
Innovation, Access and Use and Policy, Governance and Knowledge.
Posted by AGORACOM-JC
at 7:24 AM on Wednesday, November 27th, 2019
Marshall Gunter, CEO and Jeffrey Stevens, President were interviewed by Nicole Bogart of CTV News on the work Nexalogy completed during the Canadian Federal Elections.
“Getting mainstream media attention on the work we are doing is a huge validation and win for the team. We look forward to collaborating with Nicole on future opportunities where our technology can add value to her stories,†says Marshall Gunter, CEO of the Company.
TORONTO, Nov. 27, 2019 — Datametrex AI Limited (the “Company†or “Datametrexâ€) (TSXV: DM, FSE: D4G) is proud to share a link to a CTV News article featuring Nexalogy’s work in the Canadian Federal Elections in coordination with our client, Defence Research and Development Canada (DRDC).
Marshall Gunter, CEO and Jeffrey Stevens, President were interviewed
by Nicole Bogart of CTV News on the work Nexalogy completed during the
Canadian Federal Elections. Nicole has extensive experience in covering
issues surrounding cybersecurity, artificial intelligence, and social
media. Please click the link below to read the full article.
“Getting mainstream media attention on the work we are doing is a
huge validation and win for the team. We look forward to collaborating
with Nicole on future opportunities where our technology can add value
to her stories,†says Marshall Gunter, CEO of the Company.
For more information on this project or to learn how Datametrex can
assist your organization in social media discovery, Fake News Filters
and BOT detection please go to:
Datametrex AI Limited is a technology focused company with exposure
to Artificial Intelligence and Machine Learning through its wholly owned
subsidiary, Nexalogy (www.nexalogy.com).
For further information, please contact:
Jeff Stevens – President Phone: (647) 777-7974 Email: [email protected]
Forward-Looking Statements
This news release contains “forward-looking information†within
the meaning of applicable securities laws. All statements contained
herein that are not clearly historical in nature may constitute
forward-looking information. In some cases, forward-looking information
can be identified by words or phrases such as “mayâ€, “willâ€, “expectâ€,
“likelyâ€, “shouldâ€, “wouldâ€, “planâ€, “anticipateâ€, “intendâ€,
“potentialâ€, “proposedâ€, “estimateâ€, “believe†or the negative of these
terms, or other similar words, expressions and grammatical variations
thereof, or statements that certain events or conditions “may†or “willâ€
happen, or by discussions of strategy.
Readers are cautioned to consider these and other factors,
uncertainties and potential events carefully and not to put undue
reliance on forward-looking information. The forward-looking information
contained herein is made as of the date of this press release and is
based on the beliefs, estimates, expectations and opinions of management
on the date such forward-looking information is made. The Company
undertakes no obligation to update or revise any forward-looking
information, whether as a result of new information, estimates or
opinions, future events or results or otherwise or to explain any
material difference between subsequent actual events and such
forward-looking information, except as required by applicable law.
