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Catenae Innovation #CTEA – Completion of Cov-ID Project
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, is pleased to announce that further to its Cov-ID Project Update of 19 June 2020, the graphic design refinements to the Cov-ID app have now been completed, and the commercial product is now ready to be rolled out across the UK and globally.
Guy Meyer, Interim Chief Executive Officer of Catenae, said: “I am particularly pleased to announce that the Cov-ID app is now market ready, well ahead of schedule. We are receiving enquiries about the app and are in discussions about local and international sales opportunities. The Company looks forward to informing the market of further developments.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.
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For further information please contact:
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Catenae Innovation PLC |
+44 (0)191 580 8545 |
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Guy Meyer, Interim CEO |
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Cairn Financial Advisers LLP (Nominated Adviser) |
+44(0)20 7213 0880 |
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Liam Murray / Jo Turner |
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Brandon Hill Capital Limited, Broker |
+44 (0)20 3463 5000 |
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Andy Gutmann |
+44 (0)78796 8313 |
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Yellow Jersey PR (PR & IP) |
+44 (0)20 3004 9512 |
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Sarah Hollins / Annabel Atkins |
Catenae Innovation #CTEA – Half Year Report
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, is pleased to announce its half-yearly report for the six months ended 31 March 2020.
Financial overview
· The results for the half year are set out in full below and show a loss of £364,013 (2018: £503,233) with revenues of £19,892 (2018: £68,857).
· Shareholders approved a consolidation of share capital which enabled a fund raise of £153,000 and conversion of £404,250 liabilities to shares resulting in an improved balance sheet with net liability position of £533,840 (2018: £399,980) compared to the year-end position of £727,077.
Operational overview
· Renewal of contract with Southend United Community and Educational Trust for “OnSide”, Catenae’s centralised management tool specifically developed for sports organisations.
Post period end
· Development of the Cov-ID app, a joint initiative by a consortium of companies led by Z/Yen Group Limited to build a COVID-19 status verification passport.
· Partnership agreement with Newcastle Premier Health Limited, an occupational health and wellness business based in the North East of England, to pilot the Cov-ID app
· Kevin Everett stepped down as Interim Non-executive Chairman
· Appointment of Brian Thompson and John Farthing to the Board as Non-executive Chairman and Chief Financial Officer respectively
· Appointment of Brandon Hill Capital Limited as sole corporate broker
· As at 26 June 2020 the Company had cash balance of just over £1.0m
Guy Meyer, Interim Chief Executive Officer of Catenae, said: “Significant progress has been made during the period under review towards implementing the Group’s revised strategy following the corporate restructuring that took place in 2019, and we have seen this momentum continue to date.
“We are delighted that the Cov-ID app that Catenae has developed as its commercial contribution to the consortium led by Z/Yen Group Limited completed the recent pilot trail with our clinical partner, Newcastle Premier Health Limited, as part of their Access Control Programme. The app should shortly be ready to be marketed for the benefit of businesses and organisations as Covid-19 restrictions begin to ease.
“Our recent fundraises have provided us with the funds required to continue to explore further opportunities. We look forward to keeping the market updated with our progress.”
Chief Executive’s Statement
Business and performance review
Following the successful corporate restructuring and business stabilisation process carried out by the Board in 2019, Catenae was able to focus its efforts on delivering on its new strategy in the six months to 31 March 2020, by innovating its products and exploring new opportunities for growth. This positive momentum has continued post period end, with two new Board appointments and a number of projects underway.
Catenae’s principal trading activity is providing services to clients operating in the Facilities Management sector along with customers, partnered with football and rugby clubs, who offer local engagement services on behalf of local authorities. All the Company’s products use Distributed Ledger Technology which provides clients with immutable audit trails providing evidence that contracted services are fulfilled. The Company’s service mitigates risk as operative activities are geo-tagged and date and time stamped in an immutable form.
As announced on 19 December 2019, the Company renewed its contract with Southend United Community and Educational Trust for “OnSide”, Catenae’s centralised management tool specifically developed for sports organisations. The solution deals with all the key elements of community coaching from scheduling of staff and timesheet processing through to attendee management and reporting to internal and external stakeholders, all in a GDPR compliant platform.
COVID-19
Post period end, the Company has been exploring a number of opportunities across a range of sectors to leverage its technical solutions. Catenae joined a consortium led by Z/Yen Group Limited (“Z/Yen”) with the objective of building a GDPR-compliant identity documentation exchange system, “Cov-ID”, to record and share an individual’s Covid-19 test status. Considerable progress has been made in the development of the app, which was recently trialled by the Group’s occupational health and wellness partner in the North East of England, Newcastle Premier Health Limited, in its proof of concept pilot. Catenae expects the app to be ready to be rolled out commercially over the coming weeks as activity begins to return to a semblance of normality.
Notwithstanding the current market developments in relation to the COVID-19 pandemic, the Company has confidence in its business continuity arrangements. At the end of January 2020, the Company ceased to rent offices, with all employees working remotely. Currently, where needed, all business meetings are held using video conferencing platforms. The Company sees that for the foreseeable future, this will now be standard operational practice. Catenae’s technical solutions continue to be used effectively with customers and partners, an approach which contributes to the Company’s resilience in the current circumstances.
Board and management
Catenae welcomed Brian Thompson and John Farthing to the Board as Non-executive Chairman and Chief Financial Officer, respectively, on 24 April 2020. Their wealth of experience, expertise and business network will add considerable benefit to the Company as we execute our strategy going forward.
Kevin Everett, Interim Non-executive Chairman since 17 July 2019 and Non-executive Director since 16 May 2013, stepped down from his role on 24 April 2020 to pursue other business interests. On behalf of the Board, I would like to thank Kevin for his hard work and support during an important period.
Outlook
Catenae has entered H2 2020 in a stable position and with a streamlined and resilient business model to capitalise on the opportunities that are presenting themselves. The COVID-19 pandemic presents us all with an unprecedented challenge, however the Group is confident in its ability to continue to provide its customers and partners with its technical solutions in an efficient manner.
The Company has a pipeline of opportunities ahead to expand its network of clients and to provide its technical solutions to a wider audience, and the Board looks forward to updating the market on its progress in due course.
Guy Meyer
Interim Chief Executive Officer
Catenae Innovation #CTEA – Final Results
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, is pleased to announce its full year results for the twelve months ended 30 September 2019.
Financial overview
· The Company had a net loss for the year of £825,230 (2018: £1,106,788). Revenues for the year were £102,549 (2018: £157,218).
· The Company has a statement of financial position at the year-end showing net liabilities of £727,077 (2018: £891,929).
· On 26 March 2020, the Company announced it had agreed a loan facility of £150,000 from Brian Thompson.
Operational overview
· Appointment of Guy Meyer to the Board as Interim Chief Executive Officer
· Resignation of Tony Sanders as Chief Executive Officer and Chairman from the Board
· Appointment of Kevin Everett to Interim Non-Executive Chairman
· Reset of business strategy with operational costs significantly reduced
· Progression of Charlton Athletic Community Trust and FireDoor Guardian Ltd contracts to year two of agreed periods.
Guy Meyer, Interim Chief Executive Officer of Catenae, said: “The Board recognises that the Company’s 2019 final results are disappointing and reflect the challenging business conditions we faced during the course of last year. We were encouraged by the progression of the Charlton Athletic Community Trust and FireDoor Guardian contracts to year two of the agreed periods.
“With the corporate restructuring now complete, the Company is in a more stable position and is confident in its ability to seek new growth opportunities to enhance shareholder value. We look forward to keeping the market updated with our progress.”
Chairman’s Statement
Business and performance review
The trading year was challenging as the Company fought for greater market share against the backdrop of slowing market activity caused by the lack of political certainty produced by Brexit. With the under-achievement of significant sales, the Company managed its finances prudently by further streamlining its operations and significantly reduced its cash burn, leading to the stabilisation of the Company through further consolidation.
The past 12 months have seen Charlton Athletic Community Trust move into year two of its three- year contract with the Company and FireDoor Guardian Ltd. progress into its second contract year with the Company.
Board changes
In July 2019 Tony Sanders, the former Chief Executive Officer and Chairman, stepped down as a director of the Company and Guy Meyer, the Business Development Director at the time, assumed the role of Interim Chief Executive Officer. For corporate governance best practice, Kevin Everett was appointed Interim Non-Executive Chairman. Anthony Flynn also joined the Board in July 2019 and resigned in December 2019.
On 24 April 2020, Kevin Everett stepped down from the Board, and was replaced by Brian Thompson as Non-executive Chairman. John Farthing, the Company’s Chief Financial Officer, also joined the Board on 24 April 2020.
Financial Overview
The Company had a net loss for the year of £825,230 (2018: £1,106,788). Revenues for the year were £102,549 (2018: £157,218).
The Company has a statement of financial position at the year-end showing net liabilities of £727,077 (2018: £891,929).
On 26 March 2020, the Company announced it had agreed a loan facility of £150,000 from Brian Thompson.
The results are presented under European Union Adopted International Financial Reporting Standards (“EU Adopted IFRS”).
Working capital and fund raisings
During the year, the Company issued 1,145,000,000 new ordinary shares for a total gross consideration of £1,245,000, of which £1,122,810 was received in cash and £122,190 to settle existing liabilities.
Post period end, the Company announced various issuance of shares, including:
On 31 January 2020 the Company significantly improved its balance sheet through agreeing the settlement of £404,250 of liabilities by converting them into 36,750,000 new ordinary shares in the Company, also on that date the Company also raised £153,000 through the issue of 38,250,000 new ordinary shares.
On 14 May 2020, the Company raised £320,000 through the subscription of 320,000,000 new ordinary shares.
On the 21 May 2020 the Company raised £25,000 through the subscription of 6,250,000 new ordinary shares and a further £65,485 of liabilities were converted into 3,341,057 new ordinary shares.
On 10 June 2020, the Company raised £187,500 through the exercise of a warrant over 15,000,000 new ordinary shares and on the same date £35,000 of liabilities were converted into 2,083,333 new ordinary shares.
On 12 June 2020, £47,000 of liabilities were converted in 2,350,000 new of new ordinary shares concurrent with the raising of £703,000 through the subscription of 37,500,000 new ordinary shares.
All of the above actions, along with a significant reduction in operating costs, have given the Company the strongest balance sheet in recent history with approximately £1,046,000 in cash at the bank on 26 June 2020.
COVID-19
Notwithstanding the current market developments in relation to the spread of COVID-19 and its impact on the global economy, the Company has confidence in its business continuity arrangements. At the end of January 2020, the Company had reduced its premises rental contract to zero cost by having all employees working remotely. Currently, where needed, all business meetings are held using video conferencing platforms. The Company sees that for the foreseeable future, this will now be standard operational practice.
Summary
The new Board saw that the stabilisation of the business was critical in getting the Company to a position where it could reset its business strategy. The Company is focused on seeking new opportunities that give shareholders the best chance of a return on their investments.
The Board is pleased that the business has finally reached a point where the legacy challenges that it inherited are now well and truly behind it, giving the Company the bandwidth to focus on the future.
Brian Thompson
Chairman
Catenae Innovation #CTEA – Agreement with Newcastle Premier Health Ltd
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that it has signed an agreement with Newcastle Premier Health Limited (“NPH”), an occupational health and wellness business based in the North East of England.
Under the terms of the agreement, NPH will provide its knowhow to the Cov-ID project, a GDPR compliant identity documentation exchange system to record an individual’s Covid-19 test status through a mobile app that is intended to be marketed to businesses and organisations.
As previously announced, the Cov-ID project is a joint initiative by a consortium of companies led by the Z/Yen Group.
NPH has agreed to pilot the Cov-ID app which is expected to commence on 29 May 2020.
Guy Meyer, Interim Chief Executive Officer of Catenae, commented: “We are delighted that occupational health and wellness business, Newcastle Premier Health, will pilot the Company’s Cov-ID mobile app technology on a selection of its employees in its efforts to return to work safely. Upon publication of a proof of concept, which is expected to take place within the next few weeks, the app will be available to be rolled out to benefit businesses and organisations as current restrictions begin to ease. We look forward to updating the market in due course.”
Mark Philpott, Managing Director of NPH, said: “As a responsible and ethical occupational health provider, we understand the importance of enabling our clients and other local businesses to return to work safely and at an appropriate time in line with the best scientific and government advice available. We are looking forward to combining our clinical and occupational health expertise within the Cov-ID project, with the expertise of the other consortium members.“
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.
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For further information please contact:
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Catenae Innovation PLC |
+44 (0) 191 580 8545 |
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Guy Meyer, Interim Chief Executive Officer |
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Cairn Financial Advisers LLP (Nominated Adviser) |
+44 (0)20 7213 0880 |
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Liam Murray Jo Turner |
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Brandon Hill Capital Limited Broker Andy Gutmann |
+44 (0) 20 3463 5000 +44 (0)78796 8313
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Yellow Jersey PR (PR & IR) |
+44 (0)20 3004 9512 |
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Sarah Hollins Annabel Atkins |
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media and technology services. The Company specialises in Distributed Ledger Technology solutions that solve commercial challenges and create opportunities for its clients. The Company has an experienced IT team of project managers and integrators who have deployed systems across corporate, government and educational sectors.
About NPH Group
The NPH Group are a leading healthcare provider based in the North East of England. NPH offer Covid-19 strategic consultancy to global clients and UK testing services nationally. In addition to a full range of professional Occupational Health and Wellbeing services, they help businesses and organisations achieve their strategic personnel goals, ensuring business remain compliant and productive.
Catenae Innovation #CTEA – Cov-ID Project Update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, is pleased to report that, further to the announcement on 1 May 2020, the Company has commenced trialling and finalisation of the Cov-ID app.
The Cov-ID website is at www.cov-id.io
Guy Meyer, Interim Chief Executive Officer, commented: “We are pleased with the progress made, especially by our technical teams. There is interest in our solution and we look forward to updating the market with progress in the near future.”
Although the prototype Cov-ID app has been developed, there is no guarantee that it will be finalised nor enter the commercialisation stage, nor that in the event that it is commercialised, that any sales will be generated.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.
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For further information please contact:
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Catenae Innovation PLC |
+44 (0) 191 580 8545 |
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Guy Meyer, Interim Chief Executive Officer |
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Cairn Financial Advisers LLP (Nominated Adviser) |
+44 (0)20 7213 0880 |
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Liam Murray Jo Turner |
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Brandon Hill Capital Limited (Broker) Andy Gutmann |
+44 (0) 20 3463 5000 +44 (0)78796 8313
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Yellow Jersey PR (PR & IR) |
+44 (0)20 3004 9512 |
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Sarah Hollins Annabel Atkins |
Catenae Innovation #CTEA – Conditional Placing to raise £320,000 and Update
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, today announces that it has conditionally raised gross proceeds of £320,000 by placing 32,000,000 new ordinary shares (“Placing Shares”) at a price of 1p per share (the “Placing”).
The holders of the Placing Shares will receive warrants to subscribe for a further ordinary share in the Company for every 2 Placing Shares held, which may be exercised at a price of 1.25p per share. The warrants may be exercised at anytime up to 2 years following the date the Placing Shares are admitted to trading on AIM.
The Placing has been conducted through Brandon Hill Capital Limited, the Company’s broker, at the mid-price as of the close of Friday 17 April 2020.
The net proceeds of the Placing will provide the Company with additional working capital headroom to progress its activities.
As the Company does not currently have authority to issue shares for cash on a non-pre-emptive basis the Placing is conditional on shareholders approving resolutions granting such authorities at a General Meeting of the Company which will shortly be convened.
A further announcement providing details of the timing of the proposed General Meeting and the admission of the Placing Shares to trading on AIM will be made in due course.
Update
On the 26 March 2020 the Company announced a loan facility agreement with B.T.I.C. Limited for an amount of £150,000 to be used for general working capital purposes which would provide the Company with sufficient working capital until at least 30 June 2020. Prior to this date the Company had notified the market that its working capital position was weak and it was required to raise further funding.
As a result of the impact of Covid-19 situation, on 31 March 2020 the Company was granted an extension by AIM Regulation to delay the deadline for posting its annual report and accounts until 30 June 2020.
The Company announced on 17 April 2020 that it had joined a consortium led Z/Yen Group with the objective of building a GDPR compliant identity documentation exchange system, “Cov-ID”, to record an individual’s Covid-19 test status.
The announcement noted that the Cov-ID Project Technical mobilisation should occur over the next 2 week period, with a prototype, testing and finalisation stage occurring in the following 2 week period. Further updates will be made by the Company
As noted in that announcement, there is no guarantee that the Cov-ID product will be finalised nor that the project will enter into the commercialisation stage, nor that in the event that it is commercialised, that the commercial terms will be favourable to the Company.
Total Voting Rights
At the time of this announcement, the Company’s total issued share capital is 107,236,017 ordinary shares of 0.2p each.
The above figures may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency rules.
Guy Meyer, Interim Chief Executive Officer, Catenae, said: “We are pleased to have raised this funding. This additional working capital will enable us to progress the recently announced involvement in the Cov-ID Project and also further develop our propriety technology, which is currently deployed across the Sporting, Man-Guarding and Facilities Management sectors.”
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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.
For further information please contact:
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Catenae Innovation PLC |
+44 (0)191 580 8545 |
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Guy Meyer, Interim Chief Executive Officer
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Cairn Financial Advisers LLP (Nominated Adviser) |
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Liam Murray
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+44 (0)20 7213 0880 |
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Brandon Hill Capital Limited, Broker |
+44 (0)20 3463 5000 |
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Andy Gutmann |
+44 (0)78796 8313
|
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Yellow Jersey PR (PR & IR) |
+44 (0)20 3004 9512
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Sarah Hollins Annabel Atkins |
Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as ‘anticipates,’ ‘expects,’ ‘intends,’ ‘plans,’ ‘believes,’ ‘seeks,’ ‘estimates,’ and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.
The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
Catenae Innovation #CTEA joins Consortium on Cov-ID Project
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, today announces that it has joined a consortium led by Z/Yen Group (“Z/Yen”) with the objective of building a GDPR compliant identity documentation exchange system, “Cov-ID”, to record an individual’s Covid-19 test status. Details of the project can be found at https://www.chainzy.com/case-studies/cov-id-project/
The Cov-ID ‘digital passport’ would record both swab tests (active virus) and serological tests (antibody) and enable people to easily share their status – unexposed, active and recovered – in any fast, secure digital medium. The benefit is an authoritative way for specific groups to know that they can responsibly allow people to congregate at work or in social settings. The vast testing information being compiled can be shared with controls that ensure individuals remain in charge of their data. The Cov-ID system will use an ‘internet of record’ Smart Ledger (aka blockchain) identity documentation platform called ChainZy and a digital identity product IDChainZ. Both systems were developed by Z/Yen, the City of London’s leading commercial think-tank, which has significant expertise in health and software development, running the software and timestamping for clinical assessment trials worldwide.
The Cov-ID Project Technical mobilisation should occur over the next 2 week period, with a prototype, testing and finalisation stage occurring in the following 2 week period.
Catenae is an intellectual property client of Z/Yen using ChainZy for its OnSite products and will provide expertise and Catenae’s own propriety technology which is currently deployed across the Sporting, Man-Guarding and Facilities Management sectors.
About Z/Yen Group
Z/Yen was founded in 1994 to promote societal advance through better finance and technology. Z/Yen has built its practice around a core of high-powered project managers, supported by experienced technical specialists so that clients get expertise they need, rather than just resources available. The firm is headquartered in London, but Z/Yen is committed to the ‘virtual office’ concept and is an intense user of technology in order to improve flexibility and benefit staff. Z/Yen has 25 full-time-equivalent staff and over 300 associate experts. Z/Yen people share significantly in the benefits of success and Z/Yen seeks to develop a supportive environment in which professionals from a variety of disciplines can flourish.
Consortium members
Other members of the consortium are:-
- fm2x, a specialist software provider working with Z/Yen for over 25 years providing secure systems to the Cabinet Office and running youthinmind’s systems, handling over 15 million clinical assessments per year.
- SI Units, a data science company of young researchers specialising in bespoke projects connecting interdisciplinary expertise providing novel forecasts, using machine learning, artificial intelligence, data science and physics.
There is no guarantee that the Cov-ID product will be finalised nor enter the commercialisation stage, nor that in the event that it is commercialised, that the commercial terms will be favourable to the Company.
Guy Meyer, Interim Chief Executive Officer, Catenae, said: “We are very pleased to be part of this fast-moving dynamic consortium developing such an exciting, innovative and relevant product utilising our combined technology expertise. The Cov-ID digital passport will allow this testing data to be available simply on a fast, reliable and secure controlled exchange in real-time. User participation needs to be from the ground up and not imposed top down. To that end, the social and economic benefits to users needs to be compelling as society emerges from current restrictions. Clearly these benefits of enabling people to re-enter the workplace or social settings are enormous. We look forward to updating the market as the project progresses. “
Professor Michael Mainelli, Executive Chairman, Z/Yen Group, said: “We are delighted to welcome Catenae to this consortium. There are many suggestions for handling the return to normality safely, and our proposal for an open source architecture to help provide solid evidence of exposure, simply, reliably, and in line with privacy concerns could help not just with covid-19 but also other identity & documentation exchange. Catenae’s experience in on-site validation is invaluable to our consortium .”
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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.
For further information please contact:
|
Catenae Innovation PLC |
+44 (0)191 580 8545 |
|
Guy Meyer, Interim Chief Executive Officer
|
|
|
Cairn Financial Advisers LLP (Nominated Adviser) |
+44 (0)20 7213 0880
|
|
Liam Murray
|
|
|
Brandon Hill Capital Limited (Broker) |
+44 (0)20 3463 5000 |
|
Andrew Gutmann
|
+44 (0)7879 681313
|
|
Yellow Jersey PR (PR & IR) |
+44 (0)20 3004 9512
|
|
Sarah Hollins |
Notes to editors:
For further information on the Cov-ID Project and consortium please see link below:
https://www.chainzy.com/case-studies/cov-id-project/
Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as ‘anticipates,’ ‘expects,’ ‘intends,’ ‘plans,’ ‘believes,’ ‘seeks,’ ‘estimates,’ and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.
The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.