Formula 1 Drivers React To Cannabis Smell At Las Vegas Grand Prix: 'Everyone Would Test Positive'
The Las Vegas Grand Prix kicked off with an unexpected twist this week at Formula 1. During the second free practice session, it wasn’t the usual track talk about lap times or track conditions being discussed by the drivers. Instead, they were commenting on the pervasive cannabis aroma filling the air around the circuit.
See Also: Cannabis Can Be A ‘Great Tool In Dealing With Adversity,’ Says Former NFL Star Ricky Williams
The first to bring it up was young Argentine driver Colapinto. After his media interview following practice, he made a candid observation that quickly went viral.
“Yes, there was a smell of weed. If they do a doping test on the drivers now, I think everyone would test positive, I swear,” Colapinto joked.
“When we all test positive, it’ll be a mess,” the 21-year-old William’s driver said in a playful tone.
Colapinto wasn’t alone in noticing the cannabis scent. Red Bull’s Sergio “Checo” Pérez also weighed in, concerned about the track conditions: “Practice 1 was a total disaster, the track was very dirty.”
According to Infobae, he quickly added: “What’s really noticeable around the whole circuit is the smell of marijuana all night long. I’m a little tired of it, the amount of odor is unbelievable. It’s something that all the drivers will surely talk about.”
Cannabis In Las Vegas: What You Need to Know
Since recreational cannabis became legal in Nevada in 2017, adults 21 and over can legally possess up to 2.5 ounces of cannabis flower or 0.25 ounces of THC concentrate, including edibles.
However, while cannabis use is widespread in the city, public consumption remains off-limits. Smoking or using cannabis in public places is prohibited, with consumption confined to private residences or licensed lounges.
Read Next:
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Massive Insider Trade At Genie Energy
It was reported on November 22, that AVI GOLDIN, CFO at Genie Energy GNE executed a significant insider sell, according to an SEC filing.
What Happened: After conducting a thorough analysis, GOLDIN sold 7,300 shares of Genie Energy. This information was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission on Friday. The total transaction value is $112,551.
Tracking the Friday’s morning session, Genie Energy shares are trading at $15.9, showing a down of 0.0%.
Discovering Genie Energy: A Closer Look
Genie Energy Ltd, through its subsidiaries, operates as a retail energy provider. It serves two reportable business segments: Genie retail energy, or GRE, and Genie renewables. The Genie retail energy segment resells energy to residential and commercial consumers in the Eastern and Midwestern United States through its portfolio of various retail energy providers. The Genie renewables segment holds controlling interests in various companies engaged in the manufacturing of solar panels, solar installation design, and solar energy project management. It generates the majority of its revenue from the Genie retail energy segment.
Genie Energy: Financial Performance Dissected
Revenue Challenges: Genie Energy’s revenue growth over 3 months faced difficulties. As of 30 September, 2024, the company experienced a decline of approximately -10.5%. This indicates a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Utilities sector.
Analyzing Profitability Metrics:
-
Gross Margin: The company faces challenges with a low gross margin of 33.87%, suggesting potential difficulties in cost control and profitability compared to its peers.
-
Earnings per Share (EPS): Genie Energy’s EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.38.
Debt Management: Genie Energy’s debt-to-equity ratio is below the industry average. With a ratio of 0.01, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Navigating Market Valuation:
-
Price to Earnings (P/E) Ratio: Genie Energy’s stock is currently priced at a premium level, as reflected in the higher-than-average P/E ratio of 198.75.
-
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 1.0, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
-
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): At 43.27, the company’s EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company’s future performance.
Market Capitalization Perspectives: The company’s market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
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Exploring the Significance of Insider Trading
Investors should view insider transactions as part of a multifaceted analysis and not rely solely on them for decision-making.
In the realm of legality, an “insider” is defined as any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities under Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are required to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Notably, when a company insider makes a new purchase, it is considered an indicator of their positive expectations for the stock.
Conversely, insider sells may not necessarily signal a bearish stance on the stock and can be motivated by various factors.
Essential Transaction Codes Unveiled
For investors, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Genie Energy’s Insider Trades.
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This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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High Wire Reports Record Q3 2024 Results, Driven by Growth in Overwatch Managed Cybersecurity Business
BATAVIA, Ill., Nov. 22, 2024 (GLOBE NEWSWIRE) — High Wire Networks, Inc. HWNI, a leading global provider of managed cybersecurity, reported results for continuing operations for the three months and nine months ended September 30, 2024. All comparisons are to the same year-ago period unless otherwise noted.
The following results are from continuing operations following the divesture of the company’s technology enablement services business on June 27, 2024. The company’s current business segments include Overwatch managed cybersecurity services and SVC telecom services.
Q3 2024 Operational Highlights
- Awarded an expanded annual contract renewal to deliver enhanced managed cybersecurity at more than a dozen luxury car dealerships across the West Coast and Midwest U.S. The renewal increases the anticipated annual revenue by fivefold over the previous year.
- Recognized as top cybersecurity leader in Frost & Sullivan’s managed security services report, Frost Radar™: Managed Security Services in Americas, 2024.
- Appointed veteran cybersecurity thought leader and executive, Edward Vasko, CISSP, as High Wire’s chief operations officer and chief executive officer of the Overwatch managed cybersecurity services division. Vasko brings to High Wire more than 33 years of experience and accomplishment in the cybersecurity industry, including business formation and product development, and leading strategic M&As and major exits.
- Appointed Mark Dallmeier to the new position of chief revenue officer of Overwatch. Dallmeier brings to Overwatch 27 years of accomplishment in taking technology and managed services companies into ‘hypergrowth.’
- Appointed Michael Lieder as senior director of Overwatch Service Delivery and Products.
Financial Highlights
- Revenue from continuing operations in the third quarter of 2024 increased 4% to a record $2.1 million, with revenue for the first nine months up 8% to a record $6.1 million. The increases were primarily due to growth in the company’s Overwatch managed cybersecurity business.
- Q3 2024 revenue from Overwatch increased 9% to $1.0 million.
- Operating income for SVC was $103,000, up 600% from the second quarter of 2024, with operating income for the first nine months up 34% to $252,000.
- Operating expenses decreased 21% to $3.6 million, as compared to $4.6 million in the same year-ago quarter, as the result of the company’s strategic realignment initiative.
- Net loss from continuing operations in the third quarter totaled $1.7 million or $(0.01) per diluted share, a 56% improvement from a net loss of $3.8 million or $(0.01) per diluted share in the same year-ago quarter.
- Total liabilities for the third quarter of 2024 decreased $5.9 million to $7.6 million at quarter end from $13.6 million at the end of the same year-ago quarter.
- Interest expense decreased $1.1 million or 96% to $50,000 in the third quarter of 2024.
Management Commentary
“In Q3, we saw continued revenue growth from our Overwatch managed cybersecurity and telecom businesses as we began to realize the benefits of the strategic realignment we initiated in the second quarter,” stated High Wire CEO, Mark Porter. “This realignment included the divestiture of our IT enablement services business so we could focus on the greater and more rewarding opportunities in managed cybersecurity.
“The strong momentum we’ve experienced with our current business in Q3, including higher average monthly recurring revenue from new and expanded engagements, validates this transition. It also reinforces our strategy of targeting larger channel partners and enterprise-level opportunities in the cybersecurity space.
“Our Overwatch growth in the quarter is perhaps even more impressive when considering the distraction of the IT divestiture and our transition to focus on Overwatch. Our sharper focus on Overwatch resulted in the full realignment of our Overwatch management team with certain departures and key news hires designed to better prepare us for the accelerating growth we see ahead.
“The new appointments included Ed Vasko as our new Overwatch CEO, Mark Dallmeier as chief revenue officer, and Michael Lieder as senior director of Overwatch’s service delivery and products. Together, they have refined our go-to-market strategy around larger partners, paving the way for strong growth ahead.
“During the quarter we also implemented efficiencies that decreased our operating expenses by 21% versus the same year-ago quarter. This substantial improvement demonstrates the effectiveness of our operating strategies and leverage in our model, which includes the application of advanced AI automation and engineering.
“Altogether, these efforts have resulted in the largest pipeline of large deals in our company’s history, with several in the final closing stages and supporting our path to profitability. Combined with now a much cleaner capital structure, we are well positioned for an uplisting to a major exchange — especially how the capital markets are looking the best they’ve been in many months. Capable players have expressed strong interest and confidence in helping us with such an endeavor.
“Last month, we were honored to be recognized for the fourth consecutive year by MSSP Alert as a Top 100 provider in the managed security service space. This achievement reflects our team’s dedication to delivering cutting-edge solutions through our Overwatch ecosystem, including managed XDR and advanced edge protection. We believe these solutions meet the evolving needs of our partners and customers like none other on the market today.
“Looking ahead, we remain confident in our ability to capitalize on the new foundation we’ve established. Our diversified service offerings in secure voice, combined with enhanced compliance and quality, are attracting new customers and unlocking additional revenue streams.
“As we progress through the final quarter of the year and into 2025, we expect accelerating growth with this supporting significant profitability by the second half of the new year. This positive outlook, coupled with the strengthening macroeconomic sentiment among our partners, positions us well for executing our managed cybersecurity strategy and delivering greater shareholder value.”
Q3 2024 Financial Summary
Revenue in the third quarter of 2024 totaled $2.1 million, an increase of 4% from $2.0 million in the same year-ago quarter. The increase in revenue reflects an increase in revenue from the company’s Overwatch managed cybersecurity business. At the end of the third quarter of 2024, Overwatch was generating monthly recuring revenue of approximately $0.4 million or $4.8 million on an annualized basis.
Gross profit totaled $0.7 million or 33.1% of revenue in the third quarter, improving from $0.6 million or 32.6% of revenue in the same year-ago quarter. The increase in gross profit in the third quarter of 2024 was primarily due to the business moving towards a more scalable, efficient cyber platform as well as the efficiencies gained by continued improvements in the company’s automation capabilities.
Total operating expenses decreased 21% to $3.6 million compared to $4.6 million from the same year-ago quarter. The decrease is due to decreases in salaries and wages expenses of $0.8 million, general and administrative expenses of $812,000, and depreciation and amortization of $12,000.
Net loss from continuing operations in the third quarter of 2024 totaled $1.7 million or $(0.01) per diluted share, compared to a net loss from continuing operations of $3.8 million or $(0.01) per diluted share in the same year-ago quarter.
Net loss attributable to High Wire Networks common shareholders in the third quarter of 2024 totaled $1.7 million or $(0.01) per diluted share, compared to a net loss of $3.6 million or $(0.01) per diluted share in the same year-ago quarter.
First Nine Months of 2024 Financial Summary
Revenue in the first nine months of 2024 totaled $6.1 million, an increase of 8% from $5.6 million in the same year-ago period. The increase in revenue reflects the same reasons described above. In the first nine months of 2024, the Overwatch managed cybersecurity business contributed revenue of $3.1 million, as compared to $2.9 million in the same year-ago period.
Gross profit totaled $2.4 million or 39.8% of revenue in the first nine months of 2024 as compared to $1.7 million or 29.6% of revenue in the same year-ago period. The increase in gross profit reflects the same reasons described above.
Total operating expenses decreased 7% to $12.2 million compared to $13.0 million from the same year-ago period. The decrease is primarily due to decreases in general and administrative expenses of $1.2 million and depreciation and amortization of $6,000.
Net loss from continuing operations in the first nine months of 2024 totaled $7.7 million or $(0.03) per diluted share, compared to a net loss from continuing operations of $6.4 million or $(0.02) per diluted share in the same year-ago period.
Net income attributable to High Wire Networks common shareholders in the first nine months of 2024 totaled $2.0 million or $0.01 per diluted share, compared to a net loss of $7.5 million or $(0.03) per diluted share in the same year-ago period. The first nine months of 2024 included a gain on the sale of the company’s technology enablement business for approximately $8 million.
About High Wire Networks
High Wire Networks, Inc. HWNI is a fast-growing, award-winning global provider of managed cybersecurity. Through over 200 channel partners, it delivers trusted managed services for more than 1,100 managed security customers worldwide. End-customers include Fortune 500 companies and many of the nation’s largest government agencies. Its U.S. based 24/7 Network Operations Center and Security Operations Center is located in Chicago, Illinois.
High Wire was ranked by Frost & Sullivan as a Top 15 Managed Security Service Provider in the Americas for 2024. It was also named to CRN’s MSP 500 and Elite 150 lists of the nation’s top IT managed service providers for 2023 and 2024.
Learn more at HighWireNetworks.com. Follow the company on X, view its extensive video series on YouTube or connect on LinkedIn.
Forward-Looking Statements
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
High Wire Contact
Mark Porter
Chief Executive Officer
High Wire Networks
Tel +1 (952) 974-4000
Email contact
Investor & Media Relations:
Ronald Both or Grant Stude
CMA Investor & Media Relations
Tel +1 (949) 432-7557
Email contact
| High Wire Networks, Inc. Condensed consolidated statements of operations (Unaudited) |
||||||||||||||||
| For the three months ended September 30, |
For the nine months ended September 30, |
|||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenue | $ | 2,051,672 | $ | 1,974,464 | $ | 6,050,793 | $ | 5,623,104 | ||||||||
| Operating expenses: | ||||||||||||||||
| Cost of revenue | 1,372,998 | 1,330,426 | 3,641,460 | 3,957,640 | ||||||||||||
| Depreciation and amortization | 186,422 | 198,208 | 608,283 | 614,098 | ||||||||||||
| Salaries and wages | 1,043,209 | 1,854,917 | 4,394,912 | 3,743,614 | ||||||||||||
| General and administrative | 1,019,153 | 1,204,488 | 3,507,287 | 4,700,827 | ||||||||||||
| Total operating expenses | 3,621,782 | 4,588,039 | 12,151,942 | 13,016,179 | ||||||||||||
| Loss from operations | (1,570,110 | ) | (2,613,575 | ) | (6,101,149 | ) | (7,393,075 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest expense | (50,195 | ) | (1,117,606 | ) | (1,037,268 | ) | (1,705,659 | ) | ||||||||
| Amortization of debt discounts | (66,907 | ) | (86,736 | ) | (923,717 | ) | (924,128 | ) | ||||||||
| Gain on change in fair value of warrant liabilities | 4,880 | – | 234,673 | – | ||||||||||||
| Gain (loss) on settlement of debt | 69,038 | – | (398,022 | ) | – | |||||||||||
| Exchange loss | (7,145 | ) | 1,852 | (35,007 | ) | (6,177 | ) | |||||||||
| Warrant expense | – | – | (233,877 | ) | – | |||||||||||
| Gain on extinguishment of warrant liabilities | – | – | 921,422 | – | ||||||||||||
| Penalty fee | – | – | (100,000 | ) | – | |||||||||||
| Liquidated damages related to escrow shares | – | – | – | (1,222,000 | ) | |||||||||||
| Gain on change in fair value of derivative liabilities | – | – | – | 3,140,404 | ||||||||||||
| Gain on extinguishment of derivatives | – | – | – | 1,692,232 | ||||||||||||
| Other (expense) income | (50,000 | ) | – | (50,000 | ) | 37,500 | ||||||||||
| Total other (expense) income | (100,329 | ) | (1,202,490 | ) | (1,621,796 | ) | 1,012,172 | |||||||||
| Net loss from continuing operations before income taxes |
(1,670,439 | ) | (3,816,065 | ) | (7,722,945 | ) | (6,380,903 | ) | ||||||||
| Provision for income taxes | – | – | – | – | ||||||||||||
| Net loss from continuing operations | (1,670,439 | ) | (3,816,065 | ) | (7,722,945 | ) | (6,380,903 | ) | ||||||||
| Net income (loss) from discontinued operations, net of tax |
– | 265,416 | 9,737,003 | (1,143,432 | ) | |||||||||||
| Net (loss) income attributable to High Wire Networks, Inc. common shareholders |
$ | (1,670,439 | ) | $ | (3,550,649 | ) | $ | 2,014,058 | $ | (7,524,335 | ) | |||||
| Income (loss) per share attributable to High Wire Networks, Inc. common shareholders, basic: |
||||||||||||||||
| Net loss from continuing operations | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.03 | ) | $ | (0.02 | ) | ||||
| Net income (loss) from discontinued operations, net of taxes |
$ | – | $ | – | $ | 0.04 | $ | (0.01 | ) | |||||||
| Net income (loss) per share | $ | (0.01 | ) | $ | (0.01 | ) | $ | 0.01 | $ | (0.03 | ) | |||||
| Income (loss) per share attributable to High Wire Networks, Inc. common shareholders, diluted: |
||||||||||||||||
| Net loss from continuing operations | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.03 | ) | $ | (0.02 | ) | ||||
| Net income (loss) from discontinued operations, net of taxes |
$ | – | $ | – | $ | 0.04 | $ | (0.01 | ) | |||||||
| Net income (loss) per share | $ | (0.01 | ) | $ | (0.01 | ) | $ | 0.01 | $ | (0.03 | ) | |||||
| Weighted average common shares outstanding | ||||||||||||||||
| Basic | 240,912,395 | 237,860,605 | 240,691,342 | 222,693,501 | ||||||||||||
| Diluted | 240,912,395 | 237,860,605 | 268,062,471 | 222,693,501 | ||||||||||||
| High Wire Networks, Inc. Condensed consolidated balance sheets |
||||||||
| September 30, 2024 |
December 31, 2023 |
|||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash | $ | 140,682 | $ | 328,282 | ||||
| Accounts receivable, net of allowances of $74,142 and $81,359, respectively, and unbilled revenue of $60,351 and $99,916, respectively |
1,372,921 | 670,388 | ||||||
| Prepaid expenses and other current assets | 387,433 | 117,030 | ||||||
| Current assets of discontinued operations | – | 1,629,011 | ||||||
| Total current assets | 1,901,036 | 2,744,711 | ||||||
| Property and equipment, net of accumulated depreciation of $667,966 and $477,763, respectively |
849,282 | 1,026,293 | ||||||
| Goodwill | 1,812,818 | 3,162,499 | ||||||
| Intangible assets, net of accumulated amortization of $1,359,396 and $2,350,059, respectively |
3,080,350 | 3,620,256 | ||||||
| Operating lease right-of-use assets | 200,716 | 277,995 | ||||||
| Total assets | $ | 7,844,202 | $ | 10,831,754 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and accrued liabilities | 4,106,312 | 5,189,996 | ||||||
| Contract liabilities | 230,020 | 80,819 | ||||||
| Current portion of loans payable to related parties, net of debt discount of $0 and $10,968, respectively |
116,556 | 254,032 | ||||||
| Current portion of loans payable, net of debt discount of $0 and $96,552, respectively |
1,272,734 | 2,995,803 | ||||||
| Current portion of convertible debentures, net of debt discount of $98,016 and $614,556, respectively |
644,844 | 326,005 | ||||||
| Factor financing | – | 1,361,656 | ||||||
| Warrant liabilities | 117,120 | 833,615 | ||||||
| Operating lease liabilities, current portion | 108,145 | 89,318 | ||||||
| Current liabilities of discontinued operations | 505,782 | 1,529,286 | ||||||
| Total current liabilities | 7,101,513 | 12,660,530 | ||||||
| Long-term liabilities: | ||||||||
| Loans payable to related parties, net of current portion, net of debt discount of $0 and $25,297, respectively |
241,718 | 44,703 | ||||||
| Loans payable, net of current portion | 48,833 | – | ||||||
| Convertible debentures, net of current portion, net of debt discount of $0 and $464,839, respectively |
– | 685,161 | ||||||
| Operating lease liabilities, net of current portion | 98,133 | 190,989 | ||||||
| Total long-term liabilities | 388,684 | 920,853 | ||||||
| Total liabilities | 7,490,197 | 13,581,383 | ||||||
| Commitments and contingencies | ||||||||
| Series B preferred stock; $3,500 stated value; 1,000 shares authorized; 1,000 issued and outstanding as of September 30, 2024 and December 31, 2023 |
– | – | ||||||
| Total mezzanine equity | – | – | ||||||
| Stockholders’ equity (deficit): | ||||||||
| Common stock; $0.00001 par value; 1,000,000,000 shares authorized; 241,579,688 and 239,876,900 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively |
2,416 | 2,399 | ||||||
| Series D preferred stock; $10,000 stated value; 1,590 shares authorized; 943 issued and outstanding as of September 30, 2024 and December 31, 2023 |
7,745,643 | 7,745,643 | ||||||
| Series E preferred stock; $10,000 stated value; 650 shares authorized; 311 issued and outstanding as of September 30, 2024 and December 31, 2023 |
4,869,434 | 4,869,434 | ||||||
| Additional paid-in capital | 32,267,924 | 31,178,365 | ||||||
| Accumulated deficit | (44,531,412 | ) | (46,545,470 | ) | ||||
| Total stockholders’ equity (deficit) | 354,005 | (2,749,629 | ) | |||||
| Total liabilities and stockholders’ equity (deficit) | $ | 7,844,202 | $ | 10,831,754 | ||||
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Stran & Company Receives Additional Notification of Deficiency From Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q
Quincy, MA, Nov. 22, 2024 (GLOBE NEWSWIRE) — Stran & Company, Inc. (“Stran” or the “Company”) SWAG SWAGW, a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today announced that it has received a written notification (the “Notification Letter”) from the Listing Qualifications staff of The Nasdaq Stock Market LLC (“Nasdaq”) as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the “Form 10-Q”) in a timely fashion. The Notification Letter advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1).
Previously, Nasdaq granted the Company an exception until December 16, 2024 to file its delinquent Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (the “Initial Delinquent Filing”) and Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. As a result, any additional Nasdaq exception will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or until December 16, 2024. In accordance with the Nasdaq Listing Rules, the Company has until December 6, 2024 to submit to Nasdaq an update to its original plan to regain compliance with Nasdaq Listing Rules.
The Company intends to submit the required update to its plan and take the necessary steps to regain compliance with Nasdaq Listing Rules as soon as practicable. No assurance can be given that the Company will be able to regain compliance with the aforementioned listing requirement or maintain compliance with the other continued listing requirements set forth in the Nasdaq Listing Rules.
The Notification Letter has no immediate effect on the listing of the Company’s common stock or warrants on The Nasdaq Capital Market.
About Stran
For over 29 years, Stran has grown to become a leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional products, branded merchandise, and loyalty incentive programs as a tool to drive awareness, build brands and impact sales. Stran is the chosen promotional programs manager of many Fortune 500 companies, across a variety of industries, to execute their promotional marketing, loyalty and incentive, sponsorship activation, recruitment, retention, and wellness campaigns. Stran provides world-class customer service and utilizes cutting-edge technology, including efficient ordering and logistics technology to provide order processing, warehousing, and fulfillment functions. The Company’s mission is to develop long-term relationships with its clients, enabling them to connect with both their customers and employees in order to build lasting brand loyalty. Additional information about the Company is available at: www.stran.com.
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Contacts:
Investor Relations Contact:
Crescendo Communications, LLC
Tel: (212) 671-1021
SWAG@crescendo-ir.com
Press Contact:
Howie Turkenkopf
press@stran.com
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Wall Street Rebounds Without Its AI Darling's Boost, King Dollar Maintains Dominance While Bitcoin Defies Gravity: This Week In The Markets
Despite widespread anticipation that NVIDIA Corp. NVDA‘s quarterly results would dictate Wall Street’s year-end trajectory, the stock market delivered a robust weekly rebound — even in the absence of its AI darling.
While the semiconductor titan beat analyst expectations on both earnings and revenue for the third quarter, Nvidia’s stock remained flat for the week.
Alphabet Inc. GOOGLGOOG, the parent company of Google, faced sharp turbulence. Shares tumbled after the U.S. Department of Justice called for the divestiture of Chrome in a bid to curb Google’s dominance in search and digital advertising.
The sell-off wiped out over $120 billion in market capitalization on Thursday alone.
A recent Benzinga poll indicates 64% of respondents oppose breaking up Alphabet, with YouTube viewed as the company’s most valuable asset.
On the economic front, U.S. private sector activity expanded significantly in November, as reflected in S&P Global’s Purchasing Managers’ Index surveys. The services sector, in particular, surged at its fastest pace since March 2022, while price pressures continued to recede, creating less headwinds for the Federal Reserve.
Bitcoin’s BTC/USD rally shows no signs of cooling, with the cryptocurrency notching its fourth consecutive week of gains and hovering around the historic $100,000 threshold.
The U.S. dollar also maintained its upward momentum, rising for the eighth straight week to reach two-year highs. This latest rally, however, stemmed largely from external turmoil, as escalating geopolitical tensions between Russia and Ukraine, coupled with worsening economic momentum in Europe, triggered sharp weekly sell-offs in the euro and the British pound.
President-elect Donald Trump advocates for increased fossil fuel production with his “drill, baby, drill” policy. In contrast, Elon Musk, co-leader of the proposed Department of Government Efficiency (DOGE), envisions a future dominated by solar energy. UBS analysts recommend investors consider renewable energy stocks following their election-induced market dip.
Cathie Wood of Ark Invest anticipates the Trump administration will provide regulatory clarity for Bitcoin and other digital assets, potentially incorporating them into the Treasury’s strategic reserve.
General Motors GM is reportedly preparing to enter Formula One in 2026, potentially partnering with Andretti Autosport. This move would mark GM’s first foray into F1, aligning with its global motorsport expansion strategy.
Read Now:
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Silexion Therapeutics Announces 1-for-9 Reverse Share Split
GRAND CAYMAN, Cayman Islands, November 22, 2024 – Silexion Therapeutics Corp. SLXN (“Silexion” or the “Company”), a clinical-stage biotech developing RNA interference (RNAi) therapies for KRAS-driven cancers, today announced a 1-for-9 reverse share split of its ordinary shares. The reverse share split will become effective after market close on November 27, 2024, and the Company’s ordinary shares will begin trading on a split-adjusted basis on the Nasdaq Global Market at market open on November 29, 2024, under the existing ticker symbol “SLXN.” A new CUSIP number will be assigned to the post-reverse split shares.
As a result of the reverse share split, every nine ordinary shares of Silexion issued and outstanding will be automatically combined into one share. The par value of the ordinary shares will be proportionately increased, from $0.0001 per share to $0.0009 per share, and no fractional shares will be issued. Shareholders entitled to fractional shares will each receive a rounded-up whole share.
“Our decision to initiate a reverse share split aligns with Silexion’s commitment to maintaining our Nasdaq listing and ensuring a robust foundation for future growth,” said Ilan Hadar, Chairman and CEO of Silexion. “Given our recently reported milestones and strong pipeline, I am confident that we are well-positioned to advance our clinical programs and deliver value to our shareholders and to patients in the future. We believe this reverse split will help address the common short-term volatility in our share price that we experienced following our business combination and position us for long-term growth.”
Shareholders holding shares in book-entry form do not need to take any action in respect of the reverse share split, as their shares will be adjusted automatically. Those holding shares through a broker or nominee will also not need to take any action, as the number of shares held by them will be adjusted automatically, as reflected in their brokerage account. For further details, those shareholders should contact their broker.
The reverse share split is intended, among other things, to enable the Company to regain and maintain compliance with Nasdaq’s minimum bid price requirement, as outlined in Nasdaq Listing Rule 5450(a)(1). This adjustment is expected to help Silexion align with Nasdaq standards, enhance its market position, and support its strategic growth initiatives (including by enabling the Company to conduct equity financings).
About Silexion Therapeutics:
Silexion Therapeutics SLXN is a pioneering clinical-stage, oncology-focused biotechnology company developing innovative RNA interference (RNAi) therapies to treat solid tumors driven by KRAS mutations, the most common oncogenic driver in human cancers. The company’s first-generation product, LODER™, has shown promising results in a Phase 2 trial for non-resectable pancreatic cancer. Silexion is also advancing its next-generation siRNA candidate, SIL-204, designed to target a broader range of KRAS mutations and showing significant potential in preclinical studies. The company remains committed to pushing the boundaries of therapeutic innovation in oncology, with a focus on improving outcomes for patients with difficult-to-treat cancers. For more information please visit: https://silexion.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact contained in this communication, including statements regarding Silexion’s share price, business strategy, research and development plans, anticipated milestones, expected clinical and preclinical advancements, the potential benefits of the reverse share split, and management’s objectives for future operations, are forward-looking statements. These forward-looking statements are generally identified by terminology such as “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential,” or “continue,” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements include, without limitation, Silexion’s expectations regarding the progression of its clinical and preclinical programs, anticipated benefits of the reverse share split, financing prospects, future market conditions, expected regulatory filings, and other potential developments related to its research pipeline and business strategy. Forward-looking statements involve a number of risks, uncertainties, and assumptions, and actual results or events may differ materially from those projected or implied in such statements. Important factors that could cause such differences include, but are not limited to: (i) Silexion’s ability to realize the anticipated benefits of being a public company, which may be impacted by competition, operational challenges, the retention of key personnel, and the costs associated with public listing; (ii) risks related to Silexion’s ability to advance its lead programs, including LODER™ and SIL-204, through clinical development successfully and in a timely manner; (iii) the potential impact of the reverse share split on the Company’s share price and its ability to maintain compliance with Nasdaq listing requirements; (iv) the potential impact of the reverse share split on Silexion’s ability to successfully raise capital in the near future; (v) changes in regulatory requirements or the potential for regulatory delays; (vi) Silexion’s ability to maintain and expand its intellectual property portfolio; (vii) the availability and terms of additional capital needed to fund ongoing research and development activities and operational expenses; (viii) the evolving market for RNA interference (RNAi) therapies and the competitive landscape in oncology; (ix) the possibility that Silexion may not achieve anticipated milestones within expected timelines, including initiation of Phase 2/3 clinical trials for SIL-204; (x) risks associated with reliance on third-party manufacturers and collaborators for development and commercialization efforts; and (xi) other risks and uncertainties as detailed in the documents filed or to be filed with the SEC by Silexion, including the definitive proxy statement on Schedule 14A filed on October 22, 2024, the proxy supplement filed under cover of Schedule 14A on November 13, 2024, and the Form S-1 registration statement filed on October 31, 2024. Silexion cautions you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information available as of the date a forward-looking statement is made. Forward-looking statements set forth herein speak only as of the date they are made. Silexion undertakes no obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, except as otherwise required by law.
Company Contact
Silexion Therapeutics Corp
Ms. Mirit Horenshtein Hadar, CFO
mirit@silexion.com
Investor Contact
ARX | Capital Markets Advisors
North American Equities Desk
silexion@arxadvisory.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Zeta Global Holdings Corp. Investors: Company Investigated by the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Nov. 22, 2024 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Zeta Global Holdings Corp. (“Zeta” or “the Company”) ZETA investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Zeta investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: info@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On November 13, 2024, Culper Research released a report alleging that Zeta has been engaging in deceptive data collection practices. The publication claims that Zeta created a network of misleading websites, referred to as “consent farms,” designed to trick a large number of consumers each month. The report suggests that these websites mislead users into providing their personal information to Zeta through false promises, offering non-existent rewards such as job offers and financial incentives as enticements.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bars
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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New York City's Maman coming to The Commodore in Transformation of Courthouse Neighborhood
ARLINGTON, Va., Nov. 22, 2024 /PRNewswire/ — Greystar, a global leader in the investment, development, and management of real estate, including rental housing, logistics and life sciences, announced today that The Commodore in Courthouse will welcome New York City based café & bakery Maman to its community.
“We are proud to welcome Maman to The Commodore,” John Clarkson, Managing Director of Development, said. “We have been a big believer in Courthouse and the promise it always held. The success of The Commodore—which is already stabilized—has surpassed our own expectations, and the addition of Maman further validates that the promise has become reality.”
“We are thrilled to bring Maman to the heart of the Courthouse neighborhood,” said Elisa Marshall, co-founder of Maman. “With The Commodore’s vision for a vibrant community, we look forward to offering Arlington our signature blend of French-inspired, comforting cuisine and carefully crafted ambiance that so many have come to love.”
Maman opened its doors in Soho, NYC in October 2014. Quickly embraced by New York locals and international visitors, the café, restaurant and event space flourished with now over 30+ locations across multiple cities; Manhattan, Washington DC, Jersey City, Toronto and South Florida. Maman (“mother” in French) is a melding of the founding partners’—Benjamin Sormonte and Elisa Marshall—fondest childhood memories in the kitchen—especially recipes from their mothers—combined with their mutual passion for delivering quality food and a flawless experience within an artful and warm setting.
Maman will join an excellent group of retailers at the community including YogaSix, Playabowls, Rumble Boxing, and SAKI. The Commodore’s collective ground floor retail mix has brought a new sense of place to the Courthouse neighborhood, bolstering the existing retail base.
The Commodore offers apartments in studio, one-, two- and three-bedroom floorplans. Residences features chef-inspired kitchens, soft close cabinets, keyless entry, GE appliances and Samsung washers and dryers. Select micro apartments feature Ori Cloud Beds and/or Ori Closets. Selected residences feature upgraded finishes and a choice between the standard navy and gray design or a white design. Community amenities include a pool with sundeck and waterfall, fire pits and grills, an art studio, fitness center, demonstration kitchen and dining room, clubroom, co-working space, a coffee station, pet spa, outdoor lounge and concierge service.
Located adjacent to the Court House Metro station, living and dining at The Commodore allows for ease of access to D.C., Ballston, Tysons Corner and both Reagan National and Dulles International airports. There are plenty of shopping options within minutes including Apple, Lululemon, Pottery Barn and Whole Foods, as well as numerous dining and nightlife options along Clarendon and Wilson Boulevards.
Residents can relax at the pool with a waterfall and sundeck or enjoy games on the recreational lawn, entertain guests in a courtyard with a fire pit and grills or create masterpieces in the art studio. Building amenities include an expansive fitness center, a demonstration kitchen and dining room, a clubroom, an outdoor lounge, co-working spaces, a coffee station, pet spa and concierge service.
Maman’s national real estate advisor, Brand Urban, in partnership with Jennifer Price and Kim Stein at KNLB, guided the café’s co-founders, Elisa Marshall and Benjamin Sormonte, in selecting The Commodore in Arlington as their newest location. With their expertise, the Brand Urban and KLNB team helped Maman find a prime spot near the Courthouse Metro, ensuring it will be a vibrant addition to the community.
CBRE’s Jared Meier and Taylor Hayes acted as exclusive retail advisor for the Commodore, brokering the Maman lease and successfully guiding the project through its retail marketing campaign.
The Commodore delivered first units in October 2023 and is fully stabilized.
For more information, or to schedule a tour, please visit livethecommodore.com or call 571-444-2062.
About Greystar
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates nearly $315 billion of real estate in approximately 250 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages over 1,000,000 units/beds globally, and has a robust institutional investment management platform comprised of over $78 billion of assets under management, including approximately $36 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more visit our website.
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SOURCE Greystar
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Massive Insider Trade At Vertex
Revealing a significant insider sell on November 21, ITEM SECOND IRR TRUST FBO KYLE R WESTPHAL ua of JEFFREY R WESTPHAL dated October , 10% Owner at Vertex VERX, as per the latest SEC filing.
What Happened: According to a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday, sold 72,000 shares of Vertex. The total transaction value is $3,785,736.
Monitoring the market, Vertex‘s shares down by 0.69% at $53.07 during Friday’s morning.
Delving into Vertex’s Background
Vertex Inc is a provider of tax technology and services. Its software, content, and services help customers stay in compliance with indirect taxes that occur in taxing jurisdictions all over the world. Vertex provides cloud-based and on-premise solutions to specific industries for every line of tax, including income, sales, consumer use, value-added, and payroll. The company offers solutions such as tax determination, Tax Data Management, document management, and compliance and reporting among others. The company derives revenue from software subscriptions.
Vertex’s Economic Impact: An Analysis
Revenue Growth: Vertex displayed positive results in 3 months. As of 30 September, 2024, the company achieved a solid revenue growth rate of approximately 17.52%. This indicates a notable increase in the company’s top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Evaluating Earnings Performance:
-
Gross Margin: The company maintains a high gross margin of 64.85%, indicating strong cost management and profitability compared to its peers.
-
Earnings per Share (EPS): Vertex’s EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of 0.05.
Debt Management: Vertex’s debt-to-equity ratio stands notably higher than the industry average, reaching 1.36. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
Assessing Valuation Metrics:
-
Price to Earnings (P/E) Ratio: Vertex’s stock is currently priced at a premium level, as reflected in the higher-than-average P/E ratio of 281.26.
-
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 13.24 suggests overvaluation in the eyes of investors, considering sales performance.
-
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): At 90.19, the company’s EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company’s future performance.
Market Capitalization Perspectives: The company’s market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.
The Importance of Insider Transactions
Insider transactions are not the sole determinant of investment choices, but they are a factor worth considering.
Exploring the legal landscape, an “insider” is defined as any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities, as stipulated by Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and major hedge funds. These insiders are required to report their transactions through a Form 4 filing, which must be submitted within two business days of the transaction.
Highlighted by a company insider’s new purchase, there’s a positive anticipation for the stock to rise.
But, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
Unlocking the Meaning of Transaction Codes
In the domain of transactions, investors frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Vertex’s Insider Trades.
Insider Buying Alert: Profit from C-Suite Moves
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This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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What the Options Market Tells Us About Occidental Petroleum
Whales with a lot of money to spend have taken a noticeably bearish stance on Occidental Petroleum.
Looking at options history for Occidental Petroleum OXY we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $146,300 and 6, calls, for a total amount of $255,160.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $55.0 for Occidental Petroleum over the last 3 months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Occidental Petroleum’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Occidental Petroleum’s substantial trades, within a strike price spectrum from $50.0 to $55.0 over the preceding 30 days.
Occidental Petroleum 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | CALL | TRADE | BULLISH | 01/17/25 | $3.45 | $3.35 | $3.45 | $50.00 | $69.0K | 9.7K | 255 |
| OXY | PUT | SWEEP | BEARISH | 09/19/25 | $6.4 | $6.25 | $6.35 | $55.00 | $63.5K | 1.0K | 106 |
| OXY | CALL | TRADE | BEARISH | 12/27/24 | $2.75 | $2.68 | $2.69 | $50.00 | $53.8K | 452 | 411 |
| OXY | CALL | TRADE | BEARISH | 12/20/24 | $0.49 | $0.46 | $0.47 | $55.00 | $47.0K | 18.5K | 2.3K |
| OXY | PUT | SWEEP | BEARISH | 02/21/25 | $4.5 | $4.45 | $4.5 | $55.00 | $31.0K | 2.9K | 73 |
About Occidental Petroleum
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.
In light of the recent options history for Occidental Petroleum, it’s now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Occidental Petroleum
- With a trading volume of 4,452,147, the price of OXY is up by 0.61%, reaching $51.85.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 82 days from now.
What Analysts Are Saying About Occidental Petroleum
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $65.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* An analyst from Susquehanna has decided to maintain their Positive rating on Occidental Petroleum, which currently sits at a price target of $65.
* Maintaining their stance, an analyst from Raymond James continues to hold a Strong Buy rating for Occidental Petroleum, targeting a price of $78.
* An analyst from Stephens & Co. has decided to maintain their Overweight rating on Occidental Petroleum, which currently sits at a price target of $71.
* An analyst from JP Morgan downgraded its action to Neutral with a price target of $56.
* An analyst from UBS has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $58.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Occidental Petroleum options trades with real-time alerts from Benzinga Pro.
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