EQT Files Definitive Proxy and Mails Letter to Shareholders
PITTSBURGH--(BUSINESS WIRE)-- EQT Corporation (NYSE: EQT) today announced that it has filed its definitive proxy statement with the U.S. Securities and Exchange Commission in conne
Philippines Logistics and Warehousing Market is Expected to Reach PHP 1,100 Billion in Terms of Revenues by the Year 2024: Ken Research
GURUGRAM, India, May 23, 2019 /PRNewswire/ --
Refrigeration Oil Market Will Attain a Value of US$ 1.77 Billion by 2025 - TMR
ALBANY, New York, May 23, 2019 /PRNewswire/ -- The global refrigeration oil market seems to be consolidated, as prominent players are holding 95% of share in the market. These players are BASF, Royal Dutch Shell, Idemitsu Kosan Co., Ltd., Exxon Mobil Corp., and MEIWA. With continuous efforts made by these players, they will help them retain their position in the global refrigeration oil market. Concentrating on research and developmental activities and enhancing their product portfolios has made these players hold a dominant share in this market. Based on recent developments in 2018, Exxon Mobil Corp. expanded its new grease and synthetic production facility in Singapore. This development will help them achieve a stronghold in the lubricants segment.
Aluminum Is the New Steel: Scientists from NUST MISIS Made it Stronger Than Ever Before
MOSCOW, May 27, 2019 /PRNewswire/ -- Aluminum is one of the most promising materials for aeronautics and automobile industry. Scientists from the National University of Science and Technology "MISIS" found a simple and efficient way of strengthening aluminum-based composite materials. Doping aluminum melt with nickel and lanthanum, scientists managed to create a material combining benefits of both composite materials and standard alloys: flexibility, strength, lightness. The article on the research is published in Materials Letters. Lighter and faster aircraft and vehicles require lighter materials. One of the most promising materials is aluminum, or rather, aluminum-based composites. Scientists from NUST MISIS scientific school "Phase Transitions and Development of Non-Ferrous Alloys" created a new strong Al-Ni-La composite for aircraft and automobile industry. Doping elements were added to the aluminum melt, forming special chemical compounds that further formed strong reinforcing structure. "Our research group, led by Professor Nikolai Belov, has worked on the creation of aluminum-based composites for many years. Al-Ni-La composite is one of such projects, aimed at creation of "natural" aluminum-based composite material with more than 15% vol. of doping elements. A feature of the new development is the high reinforcing ability of the chemical compounds with ultrafine structure: the diameter of the reinforcing elements does not exceed several tens of nanometers. Previously, researchers were limited to the study of systems in which it is obviously impossible to obtain an effective reinforcing structure. Or they manufactured composite materials by labor-intensive powder metallurgy methods (sintering of powders), or liquid-phase technologies of kneading nanoparticles in the melt," Torgom Akopyan, one of the authors, researcher at NUST MISIS Department of Metal Forming, comments. Today, aluminum is reinforced mainly with the help of nanopowders, but this is an extremely expensive and time-consuming process, where the result does not always justify the means spent. For example, with an increase in strength by only 5-20%, such an indicator as plasticity, on the contrary, can decrease by tens of percent or even several times. In addition, the particles themselves are too large – from 100 nanometers to 1-2 micrometers, and their % vol. is low. Development of NUST MISIS scientist solves the problem of non-uniform reinforcement and low density of "powder" composites: if melting technique is used, after Al-Ni-La crystallization the diameter of doping particle does not exceed 30-70 nanometers. Thanks to "natural" crystallization, particles are distributed uniformly, forming a reinforcing structure. Hence, the composite becomes more strong and flexible than its "powder" analogues. "Our composite already demonstrates better characteristics than its analogues, including foreign ones. However, we are not going to stop here, and in the future we plan to continue working on the creation of more advanced, complex (3-, 4 - and more phase) and cheap composites, the production cycle of which will include the use of aluminum of technical purity and cheaper alloying components," Torgom adds. According to scientists, the proposed material can be used primarily in aeronautics and automobile industry, as well as for the design of modern robotics, including copters, where reducing the weight of the drone is critical. Due to the peculiarities of the structure formation, the proposed material can be used for the manufacture of complex parts via 3D printing. In addition, new developments may be of strategic importance from an economic point of view. At the moment, the main share of profit in the aluminum industry in Russia is the export of primary aluminum. The creation of new high-tech developments with increased added value will increase profits by expanding domestic and foreign markets for aluminum consumption.
Viasat Announces Fourth Quarter and Fiscal Year 2019 Results
CARLSBAD, Calif., May 23, 2019 /PRNewswire/ -- Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced financial results for the fiscal fourth quarter ended March 31, 2019.
Deckers Brands Reports Fourth Quarter And Fiscal 2019 Financial Results
GOLETA, Calif., May 23, 2019 /PRNewswire/ -- Deckers Brands (NYSE: DECK), a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, today announced financial results for the fourth fiscal quarter and fiscal year ended March 31, 2019. The Company also provided its financial outlook for the first fiscal quarter ending June 30, 2019 and full fiscal year 2020 ending March 31, 2020.
Autodesk, Inc. Announces Fiscal 2020 First Quarter Results
SAN RAFAEL, Calif., May 23, 2019 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the first quarter of fiscal 2020.
LIONSGATE REPORTS RESULTS FOR FOURTH QUARTER AND FULL YEAR FISCAL 2019
SANTA MONICA, Calif. and VANCOUVER, British Columbia, May 23, 2019 /PRNewswire/ -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) today reported revenue of $3.68 billion, operating income of $130 million, and net loss attributable to Lionsgate shareholders of $284 million, or $1.33 diluted net loss per share on 213.7 million diluted weighted average common shares outstanding for fiscal 2019 (year ended March 31, 2019). Adjusted net income attributable to Lionsgate shareholders was $191 million or adjusted diluted EPS of $0.87 and adjusted OIBDA was $520 million for fiscal 2019. The Company generated $638 million in adjusted free cash flow during fiscal 2019 driven by operating results and working capital improvements. "We've completed a very active and productive fiscal 2019 in which we set in place all the elements for strong growth and continued value creation in the year ahead," said Lionsgate CEO Jon Feltheimer. "We've refilled our film and television content pipelines, refocused on extracting maximum value from our franchise properties and are capitalizing on an extraordinary opportunity to continue Starz's global expansion and cement its stature as one of the leading international pure play subscription video-on-demand services." Fourth Quarter Results For the fourth quarter ended March 31, 2019, the Company reported revenue of $914 million, operating loss of $34 million and net loss attributable to Lionsgate shareholders of $155 million or $0.72 diluted net loss per share on 215.4 million diluted weighted average common shares outstanding. Adjusted net income attributable to Lionsgate shareholders in the quarter was $24 million or adjusted diluted EPS of $0.11, with adjusted OIBDA of $103 million. Fourth quarter adjusted free cash flow is $151 million. Full Year Segment Results Media Networks segment revenues increased by 4% to $1.46 billion in the year due to strong OTT subscriber growth to over 4 million. Segment profits increased by 2% to $436 million. Starz ended the quarter with 24.7 million total domestic subscribers which was down 400,000 sequentially and up 1.2 million from the prior year quarter. Motion Picture segment revenues decreased by 20% to $1.46 billion in the year due to a smaller film slate over the prior year. Segment profits decreased by 28% to $129 million. Television Production segment revenues decreased by 11% to $921 million in the year due to timing of certain titles. Segment profits decreased by 41% to $66 million. Lionsgate's already contracted future revenue based on fixed fee or minimum guarantee arrangements (not yet recorded due to remaining performance obligations) was $1.8 billion at March 31, 2019 and December 31, 2018. Lionsgate senior management will hold its analyst and investor conference call to discuss its fiscal 2019 fourth quarter and full year financial results at 5:00 PM ET/2:00 PM PT this afternoon, May 23. Interested parties may listen to the live webcast by visiting the events page on the Lionsgate corporate website or via https://services.choruscall.com/links/lgf190523NIhw4JrY.html. A full replay will become available later this afternoon by clicking the same link. ABOUT LIONSGATE The first major new studio in decades, Lionsgate is a global content platform whose films, television series, digital products and linear and over-the-top platforms reach next generation audiences around the world. In addition to its filmed entertainment leadership, Lionsgate content drives a growing presence in interactive and location-based entertainment, gaming, virtual reality and other new entertainment technologies. Lionsgate's content initiatives are backed by a nearly 17,000-title film and television library and delivered through a global licensing infrastructure. The Lionsgate brand is synonymous with original, daring and ground-breaking content created with special emphasis on the evolving patterns and diverse composition of the Company's worldwide consumer base. For further information, investors should contact:James Marsh310email@example.com For media inquiries, please contact:Peter Wilkes310firstname.lastname@example.org The matters discussed in this press release include forward-looking statements, including those regarding the performance of future fiscal years. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including the substantial investment of capital required to produce and market films and television series; budget overruns; limitations imposed by our credit facilities and notes; unpredictability of the commercial success of our motion pictures and television programming; risks related to acquisition and integration of acquired businesses; the effects of dispositions of businesses or assets, including individual films or libraries; the cost of defending our intellectual property; technological changes and other trends affecting the entertainment industry; other trends affecting the entertainment industry; and the other risk factors as set forth in Lionsgate's Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 23, 2019. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances. Additional Information Available on Website The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company's recent Annual Report on Form 10-K, which will be posted on the Company's website at http://investors.lionsgate.com/financial-reports/sec-filings, when filed with the Securities and Exchange Commission. Trending schedules containing certain financial information will also be available at http://investors.lionsgate.com/financial-reports/quarterly-results/2019. LIONS GATE ENTERTAINMENT CORP. CONSOLIDATED BALANCE SHEETS March 31, 2019 March 31, 2018 (Unaudited, amounts in millions) ASSETS Cash and cash equivalents $ 184.3 $ 378.1 Accounts receivable, net 647.2 946.0 Program rights 295.7 253.2 Other current assets 267.2 195.8 Total current assets 1,394.4 1,773.1 Investment in films and television programs and program rights, net 1,672.0 1,692.0 Property and equipment, net 155.3 161.7 Investments 26.2 164.9 Intangible assets 1,871.6 1,937.7 Goodwill 2,833.5 2,740.8 Other assets 436.1 458.6 Deferred tax assets 19.8 38.8 Total assets $ 8,408.9 $ 8,967.6 LIABILITIES Accounts payable and accrued liabilities $ 531.2 $ 447.7 Participations and residuals 408.5 504.5 Film obligations and production loans 512.6 327.9 Debt - short term portion 53.6 79.1 Dissenting shareholders' liability — 869.3 Deferred revenue 146.5 183.9 Total current liabilities 1,652.4 2,412.4 Debt 2,850.8 2,478.3 Participations and residuals 479.8 438.3 Film obligations and production loans 143.1 171.3 Other liabilities 114.0 46.4 Deferred revenue 62.8 70.3 Deferred tax liabilities 56.5 91.9 Redeemable noncontrolling interest 127.6 101.8 Commitments and contingencies EQUITY Class A voting common shares, no par value, 500.0 shares authorized, 82.5 shares issued (March 31, 2018 - 81.8 shares issued) 649.7 628.7 Class B non-voting common shares, no par value, 500.0 shares authorized, 133.5 shares issued (March 31, 2018 - 129.3 shares issued) 2,140.6 2,020.3 Retained earnings 208.7 516.6 Accumulated other comprehensive loss (80.3) (9.7) Total Lions Gate Entertainment Corp. shareholders' equity 2,918.7 3,155.9 Noncontrolling interests 3.2 1.0 Total equity 2,921.9 3,156.9 Total liabilities and equity $ 8,408.9 $ 8,967.6 LIONS GATE ENTERTAINMENT CORP. CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions, except per share amounts) Revenues $ 913.7 $ 1,040.2 $ 3,680.5 $ 4,129.1 Expenses Direct operating 533.0 583.1 2,028.2 2,309.6 Distribution and marketing 227.2 227.9 835.5 897.6 General and administration 110.2 116.9 445.4 454.4 Depreciation and amortization 41.4 39.9 163.4 159.0 Restructuring and other 35.9 24.0 78.0 59.8 Total expenses 947.7 991.8 3,550.5 3,880.4 Operating income (loss) (34.0) 48.4 130.0 248.7 Interest expense Interest expense (46.7) (31.5) (163.6) (137.2) Interest on dissenting shareholders' liability — (14.8) (35.3) (56.5) Total interest expense (46.7) (46.3) (198.9) (193.7) Shareholder litigation settlements — — (114.1) — Interest and other income 2.9 2.7 12.0 10.4 Other expense (2.9) — (4.7) — Loss on extinguishment of debt (1.9) (11.6) (1.9) (35.7) Gain (loss) on investments (44.4) — (87.6) 171.8 Equity interests income (loss) (14.0) (18.0) (42.9) (52.8) Income (loss) before income taxes (141.0) (24.8) (308.1) 148.7 Income tax benefit (provision) (18.1) 114.4 8.5 319.4 Net income (loss) (159.1) 89.6 (299.6) 468.1 Less: Net loss attributable to noncontrolling interests 3.9 1.7 15.4 5.5 Net income (loss) attributable to Lions Gate Entertainment Corp. shareholders $ (155.2) $ 91.3 $ (284.2) $ 473.6 Per share information attributable to Lions Gate Entertainment Corp. shareholders: Basic net income (loss) per common share $ (0.72) $ 0.43 $ (1.33) $ 2.27 Diluted net income (loss) per common share $ (0.72) $ 0.41 $ (1.33) $ 2.15 Weighted average number of common shares outstanding: Basic 215.4 210.3 213.7 208.4 Diluted 215.4 221.8 213.7 220.4 Dividends declared per common share $ — $ 0.09 $ 0.18 $ 0.09 LIONS GATE ENTERTAINMENT CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions) Operating Activities: Net income (loss) $ (159.1) $ 89.6 $ (299.6) $ 468.1 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 41.4 39.9 163.4 159.0 Amortization of films and television programs and program rights 411.2 408.9 1,516.5 1,641.7 Interest on dissenting shareholders' liability — 14.8 (72.0) 56.5 Amortization of debt discount and financing costs 2.7 3.3 11.6 14.3 Non-cash share-based compensation 24.3 13.9 68.1 88.4 Other non-cash items 8.4 14.4 29.0 20.1 Shareholder litigation settlements — — — — Distributions from equity method investee — — 1.8 — Loss on extinguishment of debt 1.9 11.6 1.9 35.7 Equity interests loss (income) 14.0 18.0 42.9 52.8 Loss (gain) on investments 44.4 — 87.6 (171.8) Deferred income taxes (benefit) 12.7 (110.2) (23.6) (299.5) Changes in operating assets and liabilities: Accounts receivable, net and other assets 162.4 (57.1) 470.8 (8.6) Investment in films and television programs and program rights, net (396.4) (438.3) (1,469.9) (1,526.4) Accounts payable and accrued liabilities 107.8 38.5 41.0 (181.7) Participations and residuals (68.7) 24.2 (85.8) 62.6 Film obligations (1.5) (0.3) (11.8) 5.1 Deferred revenue (33.7) (54.2) (44.4) (29.9) Net Cash Flows Provided By Operating Activities 171.8 17.0 427.5 386.4 Investing Activities: Proceeds from the sale of equity method investee, net of transaction costs 48.0 — 48.0 393.7 Investment in equity method investees (9.0) (5.8) (48.6) (53.4) Business acquisitions, net of cash acquired — — (77.3) (1.8) Capital expenditures (14.9) (17.5) (43.8) (45.9) Net Cash Flows Provided By (Used In) Investing Activities 24.1 (23.3) (121.7) 292.6 Financing Activities: Debt - borrowings 631.7 3,551.0 3,541.2 3,712.6 Debt - repayments (743.8) (3,343.5) (3,212.7) (4,335.7) Production loans - borrowings 91.2 20.2 338.1 319.7 Production loans - repayments (97.3) (65.6) (305.4) (332.8) Payment of dissenter liability accrued at acquisition — — (797.3) — Dividends paid — — (57.4) — Distributions to noncontrolling interest (1.3) (2.2) (3.7) (8.2) Exercise of stock options 3.8 13.2 8.0 44.9 Tax withholding required on equity awards (3.3) (5.9) (10.1) (22.9) Net Cash Flows Provided By (Used In) Financing Activities (119.0) 167.2 (499.3) (622.4) Net Change In Cash, Cash Equivalents and Restricted Cash 76.9 160.9 (193.5) 56.6 Foreign Exchange Effects on Cash, Cash Equivalents and Restricted Cash 1.2 0.5 (0.3) (3.2) Cash, Cash Equivalents and Restricted Cash - Beginning Of Period 106.2 216.7 378.1 324.7 Cash and Cash Equivalents - End Of Period $ 184.3 $ 378.1 $ 184.3 $ 378.1 LIONS GATE ENTERTAINMENT CORP. SEGMENT INFORMATION The Company's reportable segments have been determined based on the distinct nature of their operations, the Company's internal management structure, and the financial information that is evaluated regularly by the Company's chief operating decision maker. The Company has three reportable business segments: (1) Motion Picture, (2) Television Production and (3) Media Networks. Motion Picture. Motion Picture consists of the development and production of feature films, acquisition of North American and worldwide distribution rights, North American theatrical, home entertainment and television distribution of feature films produced and acquired, and worldwide licensing of distribution rights to feature films produced and acquired. Television Production. Television Production consists of the development, production and worldwide distribution of television productions including television series, television movies and mini-series, and non-fiction programming. Television Production includes the licensing of Starz original series productions to Starz Networks and STARZPLAY International, and the ancillary market distribution of Starz original productions and licensed product. Additionally, the results of operations of 3 Arts Entertainment is included in the Television Production segment from the acquisition date of May 29, 2018. Media Networks. Media Networks consists of the following product lines (i) Starz Networks, which includes the domestic licensing of premium subscription video programming to Distributors, and on a direct-to-consumer basis (ii) STARZPLAY International, which primarily represents revenues from the OTT distribution of the Company's STARZ branded premium subscription video services internationally and (iii) Streaming Services, which represents the Lionsgate legacy start-up direct to consumer streaming services on its SVOD platforms. In the ordinary course of business, the Company's reportable segments enter into transactions with one another. The most common types of intersegment transactions include licensing motion pictures or television programming (including Starz original productions) from the Motion Picture and Television Production segments to the Media Networks segment. While intersegment transactions are treated like third-party transactions to determine segment performance, the revenues (and corresponding expenses, assets, or liabilities recognized by the segment that is the counterparty to the transaction) are eliminated in consolidation and, therefore, do not affect consolidated results. LIONS GATE ENTERTAINMENT CORP. SEGMENT INFORMATION (Continued) Segment information is presented in the table below: Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions) Segment revenues Motion Picture $ 357.6 $ 424.9 $ 1,464.4 $ 1,822.1 Television Production 272.8 294.7 920.9 1,033.2 Media Networks 362.0 353.4 1,461.0 1,411.2 Intersegment eliminations (78.7) (32.8) (165.8) (137.4) $ 913.7 $ 1,040.2 $ 3,680.5 $ 4,129.1 Gross contribution Motion Picture $ 47.9 $ 61.3 $ 234.1 $ 292.6 Television Production 30.2 33.8 109.6 151.3 Media Networks 115.3 140.0 534.0 530.0 Intersegment eliminations (2.9) 2.4 (6.3) (5.5) $ 190.5 $ 237.5 $ 871.4 $ 968.4 Segment general and administration Motion Picture $ 27.0 $ 32.1 $ 105.6 $ 113.2 Television Production 10.7 12.0 43.5 40.3 Media Networks 24.4 25.3 97.7 100.9 $ 62.1 $ 69.4 $ 246.8 $ 254.4 Segment profit Motion Picture $ 20.9 $ 29.2 $ 128.5 $ 179.4 Television Production 19.5 21.8 66.1 111.0 Media Networks 90.9 114.7 436.3 429.1 Intersegment eliminations (2.9) 2.4 (6.3) (5.5) Total segment profit $ 128.4 $ 168.1 $ 624.6 $ 714.0 Corporate general and administrative expenses (25.1) (32.1) (104.2) (110.3) Adjusted OIBDA(1) $ 103.3 $ 136.0 $ 520.4 $ 603.7 (1) See "Use of Non-GAAP Financial Measures" for the definition of Adjusted OIBDA and reconciliation to the most directly comparable GAAP financial measure. The Company's primary measure of segment performance is segment profit. Segment profit is defined as gross contribution (revenues, less direct operating and distribution and marketing expense) less segment general and administration expenses. Segment profit excludes corporate general and administrative expense, restructuring and other costs, share-based compensation, other than annual bonuses granted in immediately vested stock awards when applicable, certain programming and content charges as a result of management changes and associated changes in strategy, and purchase accounting and related adjustments, when applicable. The Company believes the presentation of segment profit is relevant and useful for investors because it allows investors to view segment performance in a manner similar to the primary method used by the Company's management and enables them to understand the fundamental performance of the Company's businesses. LIONS GATE ENTERTAINMENT CORP. SEGMENT INFORMATION (Continued) The following table sets forth segment information by product line for the Media Networks segment for the three months and years ended March 31, 2019 and 2018: Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions) Media Networks revenue: Starz Networks $ 354.8 $ 350.5 $ 1,440.9 $ 1,404.1 STARZPLAY International 1.2 — 2.1 — Streaming Services 6.0 2.9 18.0 7.1 $ 362.0 $ 353.4 $ 1,461.0 $ 1,411.2 Media Networks gross contribution: Starz Networks $ 129.4 $ 146.3 $ 574.1 $ 561.3 STARZPLAY International (13.4) — (33.2) — Streaming Services (0.7) (6.3) (6.9) (31.3) $ 115.3 $ 140.0 $ 534.0 $ 530.0 Media Networks general and administration: Starz Networks $ 20.8 $ 23.9 $ 86.1 $ 93.3 STARZPLAY International 2.5 — 7.2 — Streaming Services 1.1 1.4 4.4 7.6 $ 24.4 $ 25.3 $ 97.7 $ 100.9 Media Networks segment profit: Starz Networks $ 108.6 $ 122.4 $ 488.0 $ 468.0 STARZPLAY International (15.9) — (40.4) — Streaming Services (1.8) (7.7) (11.3) (38.9) $ 90.9 $ 114.7 $ 436.3 $ 429.1 LIONS GATE ENTERTAINMENT CORP. USE OF NON-GAAP FINANCIAL MEASURES This earnings release presents the following important financial measures utilized by Lions Gate Entertainment Corp. (the "Company," "we," "us" or "our") that are not all financial measures defined by generally accepted accounting principles ("GAAP"). The Company uses non-GAAP financial measures, among other measures, to evaluate the operating performance of our business. These non-GAAP financial measures are in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with United States GAAP. Adjusted OIBDA: Adjusted OIBDA is defined as operating income (loss) before adjusted depreciation and amortization ("OIBDA"), adjusted for adjusted share-based compensation ("adjusted SBC"), purchase accounting and related adjustments, restructuring and other costs, and certain programming and content charges as a result of management changes and associated changes in strategy. Adjusted depreciation and amortization represents depreciation and amortization as presented on our consolidated statement of operations, less the depreciation and amortization related to the amortization of purchase accounting and related adjustments associated with recent acquisitions. Accordingly, the full impact of the purchase accounting is included in the adjustment for "purchase accounting and related adjustments", described below. Adjusted share-based compensation represents share-based compensation excluding the following items, when applicable: (i) immediately vested stock awards granted as part of the Company's annual bonus program issued in lieu of cash bonuses (which are, when granted, included in segment or corporate general and administrative expense), and (ii) the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements, which are included in restructuring and other expenses, when applicable. Restructuring and other includes restructuring and severance costs, certain transaction and related costs, and certain unusual items, when applicable. Programming and content charges include charges resulting from the implementation of changes to the Company's programming strategy in connection with recent management changes, which are included in direct operating expenses, when applicable. Purchase accounting and related adjustments primarily represent the amortization of non-cash fair value adjustments to certain assets acquired in recent acquisitions. These adjustments include the accretion of the noncontrolling interest discount related to Pilgrim Media Group and 3 Arts Entertainment, the amortization of the recoupable portion of the purchase price and the expense associated with the earned distributions related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense.Adjusted OIBDA is calculated similar to how the Company defines segment profit and manages and evaluates its segment operations. Segment profit also excludes corporate general and administrative expense. Adjusted Free Cash Flow: Free cash flow is typically defined as net cash flows provided by (used in) operating activities, less capital expenditures. The Company defines Adjusted Free Cash Flow as net cash flows provided by (used in) operating activities, less capital expenditures, plus or minus the net increase or decrease in production loans, plus shareholder litigation settlement charges and interest paid. The adjustment for the production loans is made because the GAAP based cash flows from operations reflects a non-cash reduction of cash flows for the cost of films and television programs associated with production loans prior to the time the Company actually pays for the film or television program. The Company believes that it is more meaningful to reflect the impact of the payment for these films and television programs in its Adjusted Free Cash Flow when the payments are actually made. The adjustment for shareholder litigation settlement and interest charges paid is to exclude the non-recurring, one-time payment included in cash flows from operating activities that is associated with litigation matters arising from the Starz merger. Adjusted Net Income (Loss) Attributable to Lions Gate Entertainment Corp. Shareholders: Adjusted net income (loss) attributable to Lions Gate Entertainment Corp. shareholders is defined as net income (loss) attributable to Lions Gate Entertainment Corp. shareholders, adjusted for share-based compensation, purchase accounting and related adjustments, restructuring and other items, loss on extinguishment of debt, and unusual gains or losses, net of the tax effect of the adjustments at the applicable blended statutory rate and net of the impact of the adjustments on non-controlling interest. Adjusted Basic and Diluted EPS: Adjusted basic earnings (loss) per share is defined as adjusted net income (loss) attributable to Lions Gate Entertainment Corp. shareholders divided by the weighted average shares outstanding. Diluted EPS is similar to basic EPS but is adjusted for the effects of securities that are diluted based on the level of adjusted net income (loss), similar to GAAP. LIONS GATE ENTERTAINMENT CORP. USE OF NON-GAAP FINANCIAL MEASURES (Continued) These measures are non-GAAP financial measures as defined in Regulation G promulgated by the SEC and are in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with United States GAAP. We use these non-GAAP measures, among other measures, to evaluate the operating performance of our business. We believe these measures provide useful information to investors regarding our results of operations and cash flows before non-operating items. Adjusted OIBDA is considered an important measure of the Company's performance because this measure eliminates amounts that, in management's opinion, do not necessarily reflect the fundamental performance of the Company's businesses, are infrequent in occurrence, and in some cases are non-cash expenses. Adjusted Free Cash Flow is considered an important measure of the Company's liquidity because it provides information about the ability of the Company to reduce net corporate debt, make strategic investments, dividends and share repurchases. Adjusted Net Income (Loss) Attributable to Lions Gate Entertainment Corp. Shareholders and Adjusted EPS are considered important measures of the Company's business operations as, similar to Adjusted OIBDA, these measures eliminate amounts that, in management's opinion, do not necessarily reflect the fundamental performance of the Company's businesses. These non-GAAP measures are commonly used in the entertainment industry and by financial analysts and others who follow the industry to measure operating performance. However, not all companies calculate these measures in the same manner and the measures as presented may not be comparable to similarly titled measures presented by other companies due to differences in the methods of calculation and excluded items. A general limitation of these non-GAAP financial measures is that they are not prepared in accordance with U.S. generally accepted accounting principles. These measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of operating income, cash flow, net income (loss), or earnings (loss) per share as determined in accordance with GAAP. Reconciliations of the adjusted metrics utilized to their corresponding GAAP metrics are provided below. LIONS GATE ENTERTAINMENT CORP. RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED OIBDA The following table reconciles the GAAP measure, operating income (loss) to the non-GAAP measure, Adjusted OIBDA: Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions) Operating income (loss) $ (34.0) $ 48.4 $ 130.0 $ 248.7 Adjusted depreciation and amortization(1) 10.7 10.0 41.1 39.3 Restructuring and other(2) 35.9 24.0 78.0 59.8 Programming and content charges(3) 35.1 — 35.1 — Adjusted share-based compensation expense(4) 10.8 14.0 52.1 85.6 Purchase accounting and related adjustments(5) 44.8 39.6 184.1 170.3 Adjusted OIBDA $ 103.3 $ 136.0 $ 520.4 $ 603.7 (1) Adjusted depreciation and amortization represents depreciation and amortization as presented on our consolidated statements of operations less the depreciation and amortization related to the non-cash fair value adjustments to property and equipment and intangible assets acquired in recent acquisitions which are included in the purchase accounting and related adjustments line item above, as shown in the table below: Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions) Depreciation and amortization $ 41.4 $ 39.9 $ 163.4 $ 159.0 Less: Amount included in purchase accounting and related adjustments (30.7) (29.9) (122.3) (119.7) Adjusted depreciation and amortization $ 10.7 $ 10.0 $ 41.1 $ 39.3 (2) Restructuring and other includes restructuring and severance costs, certain transaction and related costs, and certain unusual items, when applicable, as shown in the table below: Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions) Restructuring and other: Severance(a) Cash $ 14.5 $ 11.4 $ 31.5 $ 21.5 Accelerated vesting on equity awards 13.5 — 16.0 2.9 Total severance costs 28.0 11.4 47.5 24.4 Transaction and related costs(b) 7.9 7.8 30.5 22.2 Development expense(c) — 4.8 — 13.2 $ 35.9 $ 24.0 $ 78.0 $ 59.8 (a) Severance costs in the three months and fiscal years ended March 31, 2019 and 2018 were primarily related to restructuring activities in connection with recent acquisitions, and other cost-saving initiatives. (b) Transaction and related costs in the three months and fiscal years ended March 31, 2019 and 2018 reflect transaction, integration and legal costs incurred associated with certain strategic transactions and legal matters. In the fiscal year ended March 31, 2019, these costs were primarily related to the legal fees associated with the Starz class action lawsuits and other matters and, to a lesser extent, costs related to the acquisition of 3 Arts Entertainment and other strategic transactions. In the fiscal year ended March 31, 2018, these costs were primarily related to the sale of EPIX, the legal fees associated with the Starz class action lawsuits and other matters, and the integration of Starz. (c) Development expense in the three months and fiscal year ended March 31, 2018 represents write-downs resulting from the restructuring of the Motion Picture business in connection with the acquisition of Good Universe and new management's decisions around the creative direction on certain development projects which were abandoned in the fiscal year ended March 31, 2018. (3) During the fourth quarter of the fiscal year ended March 31, 2019, in connection with recent management changes, the Company implemented changes to its programming strategy including programming that will no longer be broadcast on Starz networks. As a result, the Company recorded certain programming and content charges of $35.1 million in fiscal 2019, which are included in direct operating expense in the consolidated statement of operations. (4) The following table reconciles total share-based compensation expense to adjusted share-based compensation expense: Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions) Total share-based compensation expense $ 24.3 $ 14.0 $ 68.1 $ 88.5 Less: Amount included in restructuring and other(a) (13.5) — (16.0) (2.9) Adjusted share-based compensation $ 10.8 $ 14.0 $ 52.1 $ 85.6 (a) Represents share-based compensation expense included in restructuring and other expenses reflecting the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements. (5) Purchase accounting and related adjustments primarily represent the amortization of non-cash fair value adjustments to certain assets acquired in recent acquisitions. These adjustments include the accretion of the noncontrolling interest discount related to Pilgrim Media Group and 3 Arts Entertainment, the amortization of the recoupable portion of the purchase price and the expense associated with the earned distributions related to 3 Arts Entertainment, all of which are accounted for as compensation and are included in general and administrative expense. The following sets forth the amounts included in each line item in the financial statements: Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions) Purchase accounting and related adjustments: Direct operating $ 1.5 $ 8.1 $ 18.0 $ 44.5 General and administrative expense 12.6 1.6 43.8 6.1 Depreciation and amortization 30.7 29.9 122.3 119.7 $ 44.8 $ 39.6 $ 184.1 $ 170.3 LIONS GATE ENTERTAINMENT CORP. RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO LIONS GATE ENTERTAINMENT CORP. SHAREHOLDERS TO ADJUSTED NET INCOME ATTRIBUTABLE TO LIONS GATE ENTERTAINMENT CORP. SHAREHOLDERS, AND BASIC AND DILUTED EPS TO ADJUSTED BASIC AND DILUTED EPS Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions, except per share amounts) Reported Net Income (Loss) Attributable to Lions Gate Entertainment Corp. Shareholders $ (155.2) $ 91.3 $ (284.2) $ 473.6 Adjusted share-based compensation expense(1) 10.8 14.0 52.1 85.6 Restructuring and other 35.9 24.0 78.0 59.8 Programming and content charges 35.1 — 35.1 — Purchase accounting and related adjustments(2) 44.0 39.2 182.2 168.5 Shareholder litigation settlements(3) — — 114.1 — Loss on extinguishment of debt 1.9 11.6 1.9 35.7 Loss (gain) on investments(4) 44.4 — 87.6 (171.8) Tax impact of above items(5) (39.5) (29.4) (102.6) (52.3) Deferred tax valuation allowance, impact of corporate tax rate change on net deferred tax liabilities and other discrete items(6) 53.7 (94.1) 53.7 (259.1) Noncontrolling interest impact of above items (6.8) (1.7) (26.6) (8.2) Adjusted Net Income Attributable to Lions Gate Entertainment Corp. Shareholders $ 24.3 $ 54.9 $ 191.3 $ 331.8 Reported Basic EPS $ (0.72) $ 0.43 $ (1.33) $ 2.27 Impact of adjustments on basic earnings per share 0.83 (0.17) 2.22 (0.68) Adjusted Basic EPS $ 0.11 $ 0.26 $ 0.89 $ 1.59 Reported Diluted EPS $ (0.72) $ 0.41 $ (1.33) $ 2.15 Impact of adjustments on diluted earnings per share 0.83 (0.16) 2.20 (0.64) Adjusted Diluted EPS(7) $ 0.11 $ 0.25 $ 0.87 $ 1.51 Adjusted weighted average number of common shares outstanding: Basic 215.4 210.3 213.7 208.4 Diluted 220.1 221.8 220.9 220.4 (1) Represents share-based compensation expense excluding amounts related to severance awards included in restructuring and other. See the table under footnote (4) to the reconciliation of operating income to Adjusted OIBDA for a reconciliation of share-based compensation expense to adjusted share-based compensation expense. (2) Represents the amounts included in Adjusted OIBDA net of interest income on the amortization of non-cash fair value adjustments to capital lease obligations acquired in the acquisition of Starz. (3) Shareholder litigation settlements of $114.1 million in the year ended March 31, 2019 includes the following: (i) $54.8 million for the net expense recorded for the settlement of the Fiduciary Litigation (representing the settlement amount of $92.5 million, net of aggregate insurance reimbursement of $37.8 million) and (ii) $59.3 million related to the Appraisal Litigation, representing the amount by which the settlement amount of approximately $964 million exceeded the previously accrued dissenting shareholders' liability including interest through the date agreed in the settlement. The Fiduciary Litigation means the seven putative class action complaints that were filed between July 19, 2016 and August 30, 2016 by purported Starz stockholders in the Court of Chancery of the State of Delaware consolidated into In re Starz Stockholder Litigation, Consolidated C.A. No. 12584-VCG. On August 22, 2018, the parties to the Fiduciary Litigation reached an agreement in principle providing for the settlement of the Fiduciary Litigation on the terms and conditions set forth in an executed term sheet. The Appraisal Litigation means the five verified petitions for appraisal (representing approximately 22.5 million shares of Starz Series A common stock) filed between December 8, 2016 and March 16, 2017 by purported Starz stockholders in the Court of Chancery of the State of Delaware, which were consolidated into In re Starz Appraisal, Consolidated C.A. No. 12968-VCG. (4) In the three months and fiscal year ended March 31, 2019, amounts represent the loss on sale of our 50% equity interest in Pop and unrealized gains or losses recorded for the change in fair value of our available-for-sale equity securities measured at fair value, and the fiscal year ended March 31, 2019 also includes other-than-temporary impairments on our investments. In the fiscal year ended March 31, 2018, amounts represent the gain on sale of our 31.15% equity interest in EPIX, and other-than-temporary impairments on our investments. (5) Represents the tax impact of the adjustments to net income attributable to Lions Gate Entertainment Corp. shareholders, calculated using the blended statutory tax rate applicable to each adjustment. (6) In the three months and fiscal year ended March 31, 2019, represents a charge from an increase in the valuation allowance for certain of the Company's deferred tax assets. In the three months ended March 31, 2018, represents a discrete tax benefit primarily from an internal capital restructuring in connection with our third party debt refinancing, offset by charges from increases in our valuation allowance associated with certain U.S. and foreign deferred tax assets. The year ended March 31, 2018 also includes a net deferred tax benefit resulting from the impact of the change in the U.S. federal corporate income tax rate from 35% to 21% under the Tax Cuts and Jobs Act on our net deferred tax liabilities. (7) For the three months and year ended March 31, 2018, adjusted diluted net income attributable to Lions Gate Entertainment Corp. shareholders for diluted EPS includes the add-back of interest expense on the convertible notes, net of tax assuming conversion of the notes at the beginning of the period presented. LIONS GATE ENTERTAINMENT CORP. RECONCILIATION OF NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES TO ADJUSTED FREE CASH FLOW Three Months Ended Year Ended March 31, March 31, 2019 2018 2019 2018 (Unaudited, amounts in millions) Net Cash Flows Provided By Operating Activities(1) $ 171.8 $ 17.0 $ 427.5 $ 386.4 Capital expenditures (14.9) (17.5) (43.8) (45.9) Net borrowings under and (repayment) of production loans (6.1) (45.5) 32.7 (13.1) Shareholder litigation settlement charges and interest — — 221.3 — Adjusted Free Cash Flow(2) $ 150.8 $ (46.0) $ 637.7 $ 327.4 (1) Cash flows provided by operating activities for the three months and year ended March 31, 2019 includes the net proceeds of approximately $218.6 million and $347.0 million, respectively, from the monetization of trade accounts receivable. (2) Adjusted Free Cash Flow amounts for the fiscal year ended March 31, 2018 have been adjusted to reflect the adoption of a new accounting standard in the first quarter of fiscal 2019, which requires restricted cash to be reported as part of cash and cash equivalents in the statement of cash flows, and therefore the change in restricted cash is no longer reported as an activity in the statement of cash flows. As a result of adopting this standard, cash provided by operating activities and therefore Adjusted Free Cash Flow was reduced by $2.8 million for the fiscal year ended March 31, 2018. View original content to download multimedia:http://www.prnewswire.com/news-releases/lionsgate-reports-results-for-fourth-quarter-and-full-year-fiscal-2019-300856241.html SOURCE Lionsgate
Popcornopolis Unicorn Popcorn® to Debut at Select Target Stores Nationwide
LOS ANGELES--(BUSINESS WIRE)-- The gourmet popcorn company, Popcornopolis is pleased to announce the launch of the popular Unicorn Popcorn® in over 1,300 Target retail stores acros
Pacific Visions at the Aquarium of the Pacific Redefines the Role of Aquariums
LONG BEACH, Calif.--(BUSINESS WIRE)-- The Aquarium of the Pacific officially opened its first major expansion, Pacific Visions. The 29,000-square-foot wing houses the immersive Hon
Enter the Pittsburgh 60 Strong Calendar Contest: Celebrate Life After 60
PITTSBURGH, Pa., May 24, 2019 /PRNewswire/ -- You, or someone you know, could be featured as a "pin up" in the 2020 Pittsburgh 60 Strong calendar, an exclusive calendar featuring inspirational 60 somethings and highlighting area events and activities. A panel of celebrity judges will select 12 winners who exemplify how life after sixty can be a vibrant and active time. In addition to appearing in the calendar, winners receive "celebrity treatment" during a professional photo shoot and compensation for their time.
Overcoming Hair Loss and Wildfires, An Inspiring Theradome Story
May 25, 2019 15:14 UTC SAN FRANCISCO--(BUSINESS WIRE)-- When Emily Scher noticed that her hair was thinning and falling out, she did what so many women do when faced with a problem - she took action and found a solution. And when the deadly California wildfires brought destruction to her Malibu community, she did not let that stop her. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190525005007/en/ Emily Scher and family along with the remains of her home after the Woolsey Fire. (Photo: Business Wire) We are so excited to share Emily’s story with you to not only show that hair restoration is possible, but also the power of her resilience. Emily’s Hair Loss Treatment: PRP Injections and Theradome Laser Hair Therapy While exploring options to stop and reverse her hair loss, Emily heard about a treatment called platelet-rich plasma (PRP) injections. She found a local medi-spa that offered the therapy and they explained how the treatment worked, and why it is most effective when paired with low-level laser therapy (LLLT). PRP treatments involve injecting the scalp with platelet-rich plasma drawn from your own blood, in order to increase the nutrient-rich blood supply to hair follicles and spur hair growth. Laser hair growth therapy also works to stimulate hair follicles but by delivering a concentrated dose of energy with a precise wavelength of light. In order to maximize her success and get the best results possible, the medi-spa where Emily received her PRP treatments recommended that she purchase a Theradome laser hair growth helmet and use it the day after each of her sessions. For six months Emily received PRP injections and used her Theradome helmet, until the fire came. Rebuilding After the Woolsey Wildfire, a New Start with New Hair On November 8, 2018, a wildfire broke out in Malibu, California outside of Los Angeles. Over the course of several days nearly 300,000 people evacuated the area for safety, including Emily and her two children, as firefighters worked to contain the blaze. All told, nearly 97,000 acres of land burned, and 1,634 structures were destroyed. Fortunately, Emily and her children were safe. However, their home was not, and they lost virtually everything they owned. Stepping up in the face of adversity, Emily and her children relocated and began planning to completely rebuild their home. They have worked to embrace their temporary location the last few months until they can one day return to the community they love. However, she no longer had her Theradome helmet and was unable to get another one with everything else she needed to replace. When Theradome learned of Emily’s story, inspired by her tenacity, Theradome was thrilled to be able to help in this one small way by sending her a new helmet. She has not only started wearing her helmet again, she’d also told a close friend who is undergoing cancer treatment about the therapy and he’s seen improvement with his hair loss as well! Of her experience with Theradome and laser hair growth therapy, she said, “I wish that more people dealing with hair loss knew about it, it really does work and I believe in it!” If you would like to support Emily and her family, please donate here: https://www.gofundme.com/SCHERGOODMAN-FAMILY-FIRE-FUND. About Theradome® Theradome®, a medical device company based in Silicon Valley, California, makes its products in the United States and specializes in bringing laser-based hair growth therapies, previously only available in clinical settings, into the home. The laser helmets developed by Tamim Hamid can minimize shedding, thicken existing hair and promote new hair growth. View source version on businesswire.com: https://www.businesswire.com/news/home/20190525005007/en/ Contacts Kim PankeyTheradome Inc.email@example.com Source: Theradome Inc. Smart Multimedia Gallery Photo Emily Scher and family along with the remains of her home after the Woolsey Fire. (Photo: Business Wire) View this news release and multimedia online at: http://www.businesswire.com/news/home/20190525005007/en
5 Ideal Reasons for Investing in Utility Stocks
Utility stocks are stocks of companies that deliver essential services such as water, gas, and electricity among others. Utility stock is an ideal conservative option for investors looking for steady higher dividends. You can invest in utility stocks companies through a brokerage firm by buying individual utility stocks, mutual funds that are specialized in the utilities sector or as ETFs that include the select sector SPDR-utilities.
8 Best Stock Investment Apps for Beginners
Investing is a daunting task and sometimes could be confusing especially for a beginner. In the past, an investment process began by making a call to a brokerage firm to obtain an advisor who would advise the investor throughout the process. However, the technological advancement has made it easier for beginners who want to start trading. Now, they can just download an app on their PC or Smartphone and use it to trade securities. Different apps offer automation, low cost and high-security measures to make investing easy and exciting for all.
5 Common Types of Financial Swaps
A swap is an act of exchanging one thing for another. In finance, swaps are derivatives wherein two counterparties exchange financial instruments. The swaps can involve an exchange of a series of cash flows of one party’s financial instrument for those of the other party’s financial instrument over a specific period of time. Swaps are mutual agreements that are easy to design and customize over the counter. They offer great flexibility that leads to many swap variations with each serving a given purpose.
Top 5 Forex Risks Traders Should Consider Before they Invest
Forex exchange market is a global decentralized or over the counter market that facilitates the trading of currencies. Just like in a stock exchange, the traders’ goal is to make a profit by buying low and selling high. Forex markets are highly liquid assets due to the high trading volumes. Some of the most common forex exchange trades include spot transactions, currency swaps, and options, forwards, and foreign exchange swaps. Forex trades face plenty of risks that can result in substantial losses. Here are the top 5 forex risks that every trader should consider before they dive into forex trading: 1. Leverage Risks In forex trading, traders require a small initial investment called a margin which is used as leverage in forex trading to gain access to substantial trades. Price volatility can result in margin calls where the investor is required to commit an additional margin. In highly volatile market conditions, aggressive use of leverage by traders can result in massive losses over initial investments made. 2. Interest Rate Risks Interest rate affects countries exchange rates. If a country’s interest rates rise, the currency strengthens. Investors flood the country as they invest in the country’s assets. In essence, a stronger currency means better returns. On the other hand, if a country interest rates fall, the currency weakens as investors begin to withdraw their investments. Interest rate changes can thus have a dramatic effect on forex prices. 3. Transaction Risks The difference or gap between when a contract is initiated and when it settles poses a transaction risk which is an exchange rate risk. Forex trading usually takes 24 hours, and exchange rates can drastically change any time before a trade settle. Currencies also trade at different prices at different times during the trading process. The greater the gap, the higher the transaction risk. The exchange risk that traders face during the trading hours increase the transaction costs. 4. Counterparty Risk The company that provides the asset to an investor in a financial transaction is called the counterparty. There is a risk of default from the dealer or broker in any particular transaction which refers to the counterparty risk. Spot and forward contracts on currencies do not get a guarantee by an exchange or a clearing house and thus pose a counterparty risk to an investor. The counterparty risk can occur in spot currency trading in the event the market maker end up insolvency. The counterparty can refuse or can be unable to oblige to contracts in highly volatile market conditions. 5. Country Risk An investor must assess the structure and the stability of the issuing country before they invest in currencies. In a majority of developing countries, the exchange rates are pegged to a particular world leader currency such as the US dollar. Central Banks in those countries must sustain sufficient reserves to help maintain good exchange rates. A balance of payments deficit can lead to devaluation of the currency and result in a currency crisis. It can consequently have massive effects on forex prices and trading. Investors can also begin to withdraw their assets if they suspect the currency is likely to decrease in value. It results in further devaluing of the currency. Currency crisis aggravates liquidity and credit risks as the currency devalues the assets become illiquid. The Bottom Line An investor should consider the various risks and losses associated with foreign exchange trading before they invest. While forex assets have the highest trading volume, the risks can lead to massive losses.
Crypto.com Lists Ontology's ONT Token
HONG KONG, May 27, 2019 /PRNewswire/ -- Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed Ontology's ONT Token to its Wallet & Card App.
Users Rule Under Huobi's New FastTrack Listing Model
SINGAPORE, May 24, 2019 /PRNewswire/ -- Starting next month, users will get a direct say in what projects are listed and when on Huobi Global.
Blockchain to Simplify Travel Inconvenience Insurance Claim Settlements Over Airline Strikes - Valuates Reports
BANGALORE, India, May 24, 2019 /PRNewswire/ -- In February 2019, the strike organized by China Airlines pilots resulted in more than 60 canceled flights. A total of 30,000 passengers were affected in this seven-day strike action over working conditions and benefits as more than 60 flights were canceled. In mid-February of 2019, striking pilots of China Airlines agreed to return to work immediately after reaching a consensus deal with the Taoyuan Union of Pilots. China Airlines has offered a compensation scheme to passengers affected by flight delays and cancelations. For flights delayed 6 hours or more including connecting flights due to canceled flights, China Airlines has promised to cover accommodation, food, and transportation expenses incurred by the change of the itinerary. However, passengers must submit their boarding passes or related invoices/ receipts for China Airlines to review these documents and handle each claim with discretion.
Crypto.com Lists Ontology's ONT Token
Best place to purchase ONT at true cost with zero fees and markups HONG KONG, May 27, 2019 /PRNewswire/ -- Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed Ontology's ONT Token to its Wallet & Card App. The listing of ONT marks the 20th token to be added to the Crypto.com platform, joining cryptocurrencies and stablecoins such as bitcoin (BTC), ether (ETH), Litecoin (LTC), XRP, TrueUSD (TUSD), PAXOS (PAX), and its own MCO and CRO tokens. Ontology is a high-performance public multi-chain project and a distributed trust collaboration platform. Ontology applies blockchain technology to all business types, providing blockchains, smart contracts, distributed verification management, data exchange, and other protocols and APIs. With ONT added to the Crypto.com Wallet & Card App, users can now buy ONT at true cost with no fees - credit card and bank transfer both supported. As Crypto.com also offers the MCO Visa Card, this adds additional utility to ONT as users can easily convert cryptocurrencies into fiat currencies and spend at over 40m merchants globally. Kris Marszalek, Co-Founder and CEO of Crypto.com, said: "We're excited to welcome Ontology and the ONT community to the Crypto.com platform. We look forward to working together in driving global adoption of cryptocurrency." Jun Li, Founder of Ontology, said: "The partnership is a win-win for both sides. Crypto.com is a pioneering payments and cryptocurrency platform, and the listing of ONT on its platform will definitely help us achieve wider business adoption. We very much look forward to working closely with Crypto.com." About Ontology Ontology's Trust Network is a protocol network built with multiple blockchains and systems to support use with all business types. The Ontology blockchain framework supports public blockchain systems and is able to customize public blockchains for applications. Ontology also supports collaboration among chain networks with protocol groups, and users can easily develop distributed services through Ontology without having previous knowledge of distributed networks. To date, Ontology is led by a core team of over 90 members, with more than 200,000 community contributors and 300 technical contributors. For more information, please visit: ont.io. About Crypto.com Crypto.com was founded in 2016 to accelerate the world's transition to cryptocurrency. Key products include: the Crypto.com Wallet & Card App, the best place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 120+ strong team. For more information, please visit: www.crypto.com. SOURCE Crypto.com
New Study Highlights Corporate Canada Support For Supply Chain Legislation as Government Launches Public Consultations