Inventus Mining Commences 80-Hole Drill Program at Pardo Receives OJEP Funding Support and ...
TORONTO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Quisitive Technology Solutions Inc. (“Quisitive” or the “Company”) (TSXV: QUIS, OTCQX: QUISF), a premier Microsoft Cloud and AI solutions provider, today reported financial results for the third quarter ended September 30, 2024. Management Commentary “Our Cloud business maintained stability as we experienced modest sequential growth and saw an expanding pipeline of AI-driven customer engagements,” said Quisitive CEO Mike Reinhart. “The hiring process of specialized staff from Microsoft’s investment in our Blackbelt Team has been completed and will enhance our ability to further establish a strong pipeline of customer opportunities. We have also developed new IP for our AI Innovation Center, designed for customers in the Azure environment to accelerate their AI use case testing and to facilitate successful custom AI deployments. Looking ahead to the new year, we remain committed to further investing in our sales engine in alignment with Microsoft, with early 2025 positioned as a key momentum-building phase to drive growth in the latter part of the year.” Third Quarter 2024 Financial Results The Company’s condensed consolidated interim financial statements for the three and nine months ended September 30, 2024 and related management’s discussion and analysis will be posted on the Company’s website and on the Company’s issuer profile on SEDAR+ at www.sedarplus.com on November 25, 2024 subject to completion of the interim review by the Company's external auditors. All figures are expressed in United States dollars unless otherwise stated. Financial highlights include: Revenue from continuing operations sequentially improved to $30.7 million compared to $29.6 million for the second quarter ended June 30, 2024. Results improved slightly when compared to $30.68 million for the third quarter ended September 30, 2023. Gross profit from continuing operations as a percentage of revenue sequentially improved to 42.9% compared to 42.1% for the second quarter ended June 30, 2024. Results remained steady and relatively unchanged when compared to 42.9% for the third quarter ended September 30, 2023. Gross profit from continuing operations sequentially improved to $13.2 million compared to $12.5 million for the second quarter ended June 30, 2024. Results remained steady when compared to $13.2 million for the third quarter ended September 30, 2023. Adjusted EBITDA from continuing operations sequentially improved to $4.2 million compared to $3.9 million for the second quarter ended June 30, 2024. Results decreased when compared to $4.9 million for the third quarter ended September 30, 2023. The Company’s total senior debt to Adjusted EBITDA ratio was approximately 1.9:1.0 on a pro forma basis at September 30, 2024. Third Quarter 2024 and Recent Operational Highlights Successfully completed the hiring process of specialized roles within Quisitive’s AI Blackbelt Team through Microsoft’s AI program investment. Development of AI Innovation Center, an IP platform for AI readiness designed for customers operating in the Azure environment. Sponsored Microsoft’s SMC Sales and Tech Summit event. Officially awarded 2024 Microsoft Analytics Partner of the Year at Microsoft Ignite. Fiscal Year 2024 Guidance Quisitive is providing the following guidance for fiscal year 2024: Conference Call Quisitive management will hold a conference call today (November 25, 2024) at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss these results. Company CEO Mike Reinhart and CFO Scott Meriwether will host the call, followed by a question-and-answer period. Toll Free dial-in: 1-877-704-4453 International dial-in: 1-201-389-0920 Webcast Link: Here Please call the conference telephone number 10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 949-574-3860. A telephonic replay of the conference call will be available after 8:00 p.m. Eastern time today and will expire after Monday, December 9, 2024. Toll-free replay number: 1-844-512-2921 International replay number: 1-412-317-6671 Replay ID: 13750196 For additional information, please visit the Investor Relations section of Quisitive’s website at: https://quisitive.com/investor-relations/ . The following tables summarize results for the three and nine months ended September 30, 2024 and 2023: About Quisitive: Quisitive (TSXV: QUIS, OTCQX: QUISF) is a premier, global Microsoft partner leveraging the power of the Microsoft cloud platform and artificial intelligence, alongside custom and proprietary technologies, to drive transformative outcomes for its customers. The Company focuses on helping enterprises across industries leverage the Microsoft platform to adopt, innovate, and thrive in the era of AI. For more information, visit www.Quisitive.com and follow @BeQuisitive. Quisitive Investor Contact Matt Glover and John Yi Gateway Group QUIS@gateway-grp.com 949-574-3860 Tami Anders Chief of Staff tami.anders@quisitive.com 972.573.0995 Reconciliation of Non-GAAP Financial Measures - Adjusted EBITDA Financial Measures and Adjusted EBITDA There are measures included in this news release that do not have a standardized meaning under generally accepted accounting principles (GAAP) and therefore may not be comparable to similarly titled measures and metrics presented by other publicly traded companies. The Company includes these measures because it believes certain investors use these measures and metrics as a means of assessing financial performance. EBITDA (earnings before interest, taxes, depreciation and amortization is calculated as net earnings before finance costs (net of finance income), income tax expense, and depreciation and amortization of intangibles) is a non-GAAP financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with IFRS. We also disclose and discuss certain non-GAAP financial information, used to evaluate our performance, in this and other earnings releases and investor conference calls as a complement to results provided in accordance with IFRS. We believe that current shareholders and potential investors in the Company use non-GAAP financial measures, such as Adjusted EBITDA, in making investment decisions about the Company and measuring our operational results. The term "Adjusted EBITDA" refers to a financial measure that we define as earnings before certain charges that management considers to be non-operating expenses and which consist of interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes), changes in fair value of derivatives, transaction and acquisition-related expenses, US payroll protection plan loan forgiveness, and earn-out settlement losses. Management considers these non-operating expenses to be outside the scope of Quisitive' ongoing operations and the related expenses are not used by management to measure operations. Accordingly, these expenses are excluded from Adjusted EBITDA, which we reference to both measure our operations and as a basis of comparison of our operations from period-to-period. Management believes that investors and financial analysts measure our business on the same basis, and we are providing the Adjusted EBITDA financial metric to assist in this evaluation and to provide a higher level of transparency into how we measure our own business. However, Adjusted EBITDA is a non-GAAP financial measure and may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA should not be construed as a substitute for net income determined in accordance with IFRS or other non-GAAP measures that may be used by other companies, such as EBITDA. The use of Adjusted EBITDA does have limitations as, some investors may consider these charges and expenses as a recurring part of operations rather than expenses that are not part of operations. Cautionary Note Regarding Forward Looking Information This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation regarding Quisitive and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to: the future growth potential of the Company and its cloud solutions business and AI offerings; the financial outlook of the Company, including growth projections, capital allocation and cost savings; potential for growth and expectations regarding the Company’s ability to capitalize on the expanding opportunities emerging from AI advancements. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; the ability to realize on cost saving measures; the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the technology industry; unproven markets for the Company’s product offerings; lack of regulation and customer protection; the need for the Company to manage its future strategic plans; the effects of product development and need for continued technology change; protection of proprietary rights; network security risks; the ability of the Company to maintain properly working systems; foreign currency trading risks; use and storage of personal information and compliance with privacy laws; use of the Company’s services for improper or illegal purposes; global economic and financial market conditions; uninsurable risks; changes in project parameters as plans continue to be evaluated; and those factors described under the heading "Risks Factors" in the Company's annual information form dated May 23, 2023 available on SEDAR+ at www.sedarplus.ca. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law. Neither the TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Michigan aims to cap lost season by beating Ohio StateBlack plastic kitchen utensil risks were overstated. But you should still toss them, group says
November 27 - Washington Spirit forward Ouleye Sarr will was placed on the season-ending injury list on Wednesday with a back injury. Sarr suffered the injury in a game against Portland on Sept. 7 and has been rehabbing with the team since. She finishes the season with eight goals and two assists in 19 matches. The France native joined the Spirit during the 2023 season and has 10 goals and four assists with the team. Sarr turned professional in with PSG in 2013 and has nine goals in 28 matches for France. That includes a four-goal performance against Estonia during qualification for last year's Women's World Cup. --Field Level Media Our Standards: The Thomson Reuters Trust Principles. , opens new tab
United States women’s head coach Emma Hayes admitted she initially grappled with how best to behave during ‘God Save The King’ ahead of her side’s goalless draw with England in their Wembley friendly. The billing of London-born former Chelsea boss Hayes against England’s Dutch manager Sarina Wiegman – arguably the best two bosses in the women’s game – had generated more buzz in the build-up than the players on the pitch, despite it being a rare encounter between the two top-ranked sides in the world. Hayes enjoyed her return to familiar shores but felt the US lacked the “killer piece” after they looked the likelier side to make the breakthrough. Elite meeting of the minds 🌟 pic.twitter.com/R4d8EArqTp — U.S. Women's National Soccer Team (@USWNT) November 30, 2024 Asked what was going through her mind during the national anthem, Hayes said: “I was definitely mouthing (it), and Naomi (Girma) and Lynn (Williams) could see that I was struggling with where to be and all that. “I got to the end of the anthems and I thought, ‘that’s so ridiculous. I’m proud to be English and I’m proud of our national anthem, and I’m also really proud to coach America’. “Two things are possible all at once. I don’t want to fuel a nationalist debate around it. The realities are both countries are really dear to me for lots of reasons, and I’m really proud to represent both of them.” The Lionesses did not register a shot on target in the first half but grew into the game in the second. US captain Lindsey Horan had the ball in the net after the break but the flag was up, while Hayes’ side had a penalty award for a handball reversed after a VAR check determined substitute Yazmeen Ryan’s shot hit Alex Greenwood’s chest. Hayes, who left Chelsea after 12 trophy-packed years this summer, said: “I’ve been privileged to coach a lot of top-level games, including here, so there’s a familiarity to being here for me. “It’s not new to me, and because of that there was a whole sense of I’m coming back to a place I know. I have a really healthy perspective, and I want to have a really healthy perspective on my profession. “I give everything I possibly can for a team that I really, really enjoy coaching, and I thrive, not just under pressure, but I like these opportunities, I like being in these situations. They bring out the best in me. “You’ve got two top teams now, Sarina is an amazing coach, I thought it was a good tactical match-up, and I just enjoy coaching a high-level football match, to be honest with you. I don’t think too much about it.” Hayes had travelled to London without her entire Olympic gold medal-winning ‘Triple Espresso’ forward line of Trinity Rodman, Mallory Swanson and Sophia Smith, all nursing niggling injuries. Before the match, the 48-year-old was spotted chatting with Wiegman and her US men’s counterpart, fellow ex-Chelsea boss Mauricio Pochettino, who was also in attendance. England were also missing a number of key attackers for the friendly including Lauren Hemp, Lauren James and Ella Toone, all ruled out with injury. "This shows where we are at and we need to keep improving. It is November now. This is good but we want to be better again. We have to be better again." 👊 Reaction from the boss ⬇️ — Lionesses (@Lionesses) November 30, 2024 Wiegman brushed aside suggestions from some pundits that her side were content to settle for a draw. She said: “I think we were really defending as a team, very strong. We got momentum in the second half, we did better, and of course both teams went for the win. “So many things happened in this game, also in front of the goal, so I don’t think it was boring. “We wanted to go for the win, but it was such a high-intensity game, you have to deal with a very good opponent, so you can’t just say, ‘Now we’re going to go and score that goal’. “We tried, of course, to do that. We didn’t slow down to keep it 0-0. I think that was just how the game went.”
Gaetz withdraws as Trump's pick for attorney general, averting confirmation battle in the Senate WASHINGTON (AP) — Matt Gaetz has withdrawn as Donald Trump’s pick for attorney general following scrutiny over a federal sex trafficking investigation. The Florida Republican made the announcement Thursday. Gaetz’s withdrawal is a blow to Trump’s push to install steadfast loyalists in his incoming administration and the first sign that Trump could face resistance from members of his own party. Trump said in a social media post that Gaetz “did not want to be a distraction for the Administration.” Gaetz said “it is clear that my confirmation was unfairly becoming a distraction to the critical work" of the transition team. He added, “There is no time to waste on a needlessly protracted Washington scuffle.”After a sprawling hacking campaign exposed the communications of an unknown number of Americans, U.S. cybersecurity officials are advising people to use encryption in their communications. To safeguard against the risks highlighted by the campaign, which originated in China, federal cybersecurity authorities released an extensive list of security recommendations for U.S. telecom companies — such as Verizon and AT&T — that were targeted. The advice includes one tip we can all put into practice with our phones: “Ensure that traffic is end-to-end encrypted to the maximum extent possible.” End-to-end encryption, also known as E2EE, means that messages are scrambled so that only the sender and recipient can see them. If anyone else intercepts the message, all they will see is garble that can't be unscrambled without the key. Law enforcement officials had until now resisted this type of encryption because it means the technology companies themselves won't be able to look at the messages, nor respond to law enforcement requests to turn the data over. Here's a look at various ways ordinary consumers can use end-to-end encryption: Officials said the hackers targeted the metadata of a large number of customers, including information on the dates, times and recipients of calls and texts. They also managed to see the content from texts from a much smaller number of victims. If you're an iPhone user, information in text messages that you send to someone else who also has an iPhone will be encrypted end-to-end. Just look for the blue text bubbles, which indicate that they are encrypted iMessages. The same goes for Android users sending texts through Google Messages. There will be a lock next to the timestamp on each message to indicate the encryption is on. But there's a weakness. When iPhone and Android users text each other, the messages are encrypted only using Rich Communication Services, an industry standard for instant messaging that replaces the older SMS and MMS standards. Apple has noted that RCS messages “aren’t end-to-end encrypted, which means they’re not protected from a third party reading them while they’re sent between devices.” Samsung, which sells Android smartphones, has also hinted at the issue in a footnote at the bottom of a press release last month on RCS, saying, “Encryption only available for Android to Android communication.” To avoid getting caught out when trading texts, experts recommend using encrypted messaging apps. Privacy advocates are big fans of Signal, which applies end-to-end encryption to all messages and voice calls. The independent nonprofit group behind the app promises never to sell, rent or lease customer data and has made its source code publicly available so that it can be audited by anyone to examine it “for security and correctness.” Signal's encryption protocol is so reputable that it has been integrated into rival WhatsApp, so users will enjoy the same level of security protection as Signal, which has a much smaller user base. End-to-end encryption is also the default mode for Facebook Messenger, which like WhatsApp is owned by Meta Platforms. Telegram is an app that can be used for one-on-one conversations, group chats and broadcast “channels" but contrary to popular perception, it doesn't turn on end-to-end encryption by default. Users have to switch on the option. And it doesn’t work with group chats. Cybersecurity experts have warned people against using Telegram for private communications and pointed out that only its opt-in ‘secret chat’ feature is encrypted from end-to-end. The app also has a reputation for being a haven for scammers and criminal activity, highlighted by founder and CEO Pavel Durov's arrest in France. Instead of using your phone to make calls through a wireless cellular network, you can make voice calls with Signal and WhatsApp. Both apps encrypt calls with the same technology that they use to encrypt messages. There are other options. If you have an iPhone you can use Facetime for calls, while Android owners can use the Google Fi service, which are both end-to-end encrypted. The only catch with all these options is that, as with using the chat services to send messages, the person on the other end will also have to have the app installed. WhatsApp and Signal users can customize their privacy preferences in the settings, including hiding an IP address during calls to prevent your general location from being guessed.
On Monday, U.S. Senators Dick Durbin and Tammy Duckworth announced that the U.S. Department of Energy's Bioenergy Technologies Office is awarding the University of Illinois $10 million in federal funding. That money, says crop sciences Professor DoKyoung Lee, will help take studies on "purpose-grown energy crops" to the next level to prove that the science works on a large scale. Lee said that official term, "purpose-grown energy crop," means pretty much exactly what it sounds like when you break it down: crops that have the necessary components to be good for creating fuel and are grown specifically for that purpose, not for food or anything else. Most people are already familiar with the concept of corn being used to create ethanol to power cars, but UI researchers are looking at crops that can create fuel to power airplanes. Lee said this is important in creating sustainability across the transportation industry. "By 2035-40, we are expecting pretty much all passenger and small fleet vehicles to use electricity or hydrogen or something like that," Lee said. "But an airplane cannot run by a battery. Maybe in the future we'll have a completely different form of a battery and it won't be a problem, but especially going continent-to-continent, long-distance flights, it's obviously not going to be batteries." Using plants to make fuel would be more environmentally friendly than using fossil fuels, and would make the United States more energy-independent. Different plants can be used to make different kinds of fuel, but Lee said that many of those used in jet fuel are already native to Illinois and the Midwest, which means they would also be healthy for the local ecosystem. Miscanthus and switchgrass sequester carbon from the atmosphere and can be produced on land that isn't suitable for annual production of crops like corn and soybeans, Lee said. Lee and other UI researchers have been working with these plants for some time to understand how they can be used to make fuel, but this $10 million grant will allow them to begin expanding tests. He said the plan is to plant energy crops across many acres and harvest them with large-scale machinery to begin understanding large-scale production. "It's basically exactly the same as what farmers are going to do," Lee said. "We are trying to see how this crop can help farmers' revenue generation while farmers can provide the biggest step for sustainable aviation fuel production and at the same time, they can provide another benefit to society and our environment."Oppenheimer Has Lowered Expectations for Pinstripes (NYSE:PNST) Stock Price