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Daily Archives: November 13, 2020

IIBA Honours 10-Year Corporate Partners with Award Ceremony

The IIBA Corporate Awards Program celebrates organizations around the world who have demonstrated a commitment to supporting training and career development of their teams and have had a significant impact on the business analysis community.

PICKERING, Ontario, Nov. 13, 2020 (GLOBE NEWSWIRE) — The International Institute of Business Analysis (IIBA), the global membership association dedicated to supporting the growth and value of business analysis, was honoured to recognize the contributions of outstanding corporate leaders who have demonstrated exemplary leadership in business analysis in a virtual awards ceremony held November 11, 2020. This year marked the 5th annual celebration of the Corporate Awards Program.

IIBA values its many strong partnerships with organizations around the world committed to fostering relationships that build opportunities for business analysis professionals and helping shape the direction of the practice.

“2020 is especially significant as it marks the 10th anniversary of IIBA’s Corporate Program. We wanted to share a virtual tribute to our corporate honourees in celebration of their outstanding commitment to the practice of business analysis over the past decade,” said Delvin Fletcher, President and CEO of IIBA.

This year, IIBA recognized nine exceptional organizations for demonstrating an unparalleled commitment to thought leadership, adaptability, strategy, and mentoring capturing the quintessence of the IIBA Corporate Awards. View the award presentation here.

Business Analysis in the New Decade

On November 11th, IIBA awarded Nedbank, a South African bank committed to creating value by using financial expertise to give back to their community, with IIBA’s Corporate Leadership Excellence in the Advancement of the Practice of Business Analysis Award recognizing Nedbank’s commitment to transforming business capabilities by adapting and optimizing their business analysis practice. Nedbank has demonstrated leadership excellence via volunteerism and providing sustainable training, certification, and career development opportunities for their business analysis professionals.

The Corporate Program presented the prestigious 10-Year Global Award to eight outstanding organizations for demonstrating a long-term commitment to advancing professional development and training in the business analysis profession.

2020 IIBA Corporate Award recipients:

  • ANZ, Australia
  • Canadian Pacific Railway, Canada
  • CNO Financial Group, USA
  • Computershare Technology Services, Australia
  • Deloitte, Canada
  • Inland Revenue, New Zealand
  • NTT Data, USA
  • The Westpac Group, Australia

“Congratulations to all our 2020 awardees. This year we celebrated an exceptional group of organizations in recognition of their contributions to advance business analysis,” said IIBA Board of Directors Chair, Keith Ellis. “We are inspired by the exemplary commitment and positive impact these organizations have made to the ongoing professional development of their teams and transformation of the profession over the past decade.”

Learn more about IIBA and how they are working with organizations around the world to deliver better business outcomes through business analysis at iiba.org/business-success.

About IIBA

International Institute of Business Analysis™ (IIBA®) is a professional association dedicated to supporting business analysis professionals to deliver better business outcomes. IIBA connects almost 30,000 Members, over 100 Chapters, and more than 500 training, academic, and corporate partners around the world. As the global voice of the business analysis community, IIBA supports recognition of the profession, networking and community engagement, standards and resource development, and comprehensive certification programs. For more information visit iiba.org.

Media Contact:

Ann Cain
Director, Communications
ann.cain@iiba.org
1-866-789-4422 ext. 146

Sumo Logic Announces Date of Third Quarter Fiscal 2021 Earnings Conference Call

REDWOOD CITY, Calif., Nov. 13, 2020 (GLOBE NEWSWIRE) — Sumo Logic, (Nasdaq: SUMO) the pioneer in continuous intelligence, today announced that it will report financial results for the third quarter of fiscal 2021 ended October 31 after market close on Monday, December 7th, 2020. The company will host a conference call on the same day beginning at 1:30 PM Pacific Time (4:30 PM Eastern Time) to discuss quarterly financial results and business highlights.

To access the conference call, dial (877) 407-0784 from the United States or (201) 689-8560 internationally and reference the company name and conference title. Following the completion of the call, a replay will be available for approximately two weeks. The replay can be accessed by dialling (844) 512-2921 from the United States or (412) 317-6671 internationally and using the recording passcode 13713250. A live webcast and replay of the conference call can also be accessed from the Sumo Logic Investor Relations website at http://investor.sumologic.com.

About Sumo Logic
Sumo Logic Inc., (Nasdaq: SUMO), is the pioneer in continuous intelligence, a new category of software, which enables organizations of all sizes to address the data challenges and opportunities presented by digital transformation, modern applications, and cloud computing. The Sumo Logic Continuous Intelligence Platform™ automates the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights within seconds. More than 2,100 customers around the world rely on Sumo Logic to build, run, and secure their modern applications and cloud infrastructures. Only Sumo Logic delivers its platform as a true, multi-tenant SaaS architecture, across multiple use-cases, enabling businesses to thrive in the Intelligence Economy. For more information, visit www.sumologic.com.

Sumo Logic is a trademark or registered trademark of Sumo Logic in the United States and in foreign countries. All other company and product names may be trademarks or registered trademarks of their respective owners.

Any information regarding offerings, updates, functionality, or other modifications, including release dates, is subject to change without notice. The development, release, and timing of any offering, update, functionality, or modification described herein remains at the sole discretion of Sumo Logic, and should not be relied upon in making a purchase decision, nor as a representation, warranty, or commitment to deliver specific offerings, updates, functionalities, or modifications in the future.

Investor Relations Contact
Paul Thomas                        
Sumo Logic                         
pthomas@sumologic.com
(650) 214-3847

Media Contact
Melissa Liton                         
Sumo Logic                         
mliton@sumologic.com          
(650) 814-3882

AKWEL: CONFIRMED UPTURN IN ACTIVITY IN Q3 2020

FRANCE, Thursday, 12 November 2020

CONFIRMED UPTURN IN ACTIVITY IN Q3 2020

AKWEL (FR0000053027, AKW, PEA-eligible), an automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, is reporting consolidated turnover of €649.1 million for the first nine months of 2020, limiting the decline to -21.4% from the same period last year.

Consolidated turnover (1 January to 30 September 2020)

In € millions – unaudited 2020 2019 Change Like-for-like change (1)
1st quarter 273.5                                                                        293.0 -6.6% -5.9%
2nd quarter 113.6                                                                        273.5 -58.5% -57.8%
3rd quarter 262.0                                                                        259.8 +0.9% +6.7%
Total for 9 months 649.1                                                                        826.3 -21.4% -19.1%

      (1)   Comparing like-for-like figures.

The upturn in AKWEL’s activity was confirmed in September, generating turnover growth of 0.9% in the third quarter of 2020 (+6.7% comparing like-for-like figures), and continued to outperform global automotive production.

The main performance factors were:

  • the continued positive impact of the Opel/PSA merger, which expanded the customer scope;
  • a high level of aftermarket activity on SCR tanks;
  • the ramp-up of activities in China.

The geographical breakdown of turnover by production zone as of 30 September was as follows:

  • France: €191.1 M (-24.6%)
  • Europe (excluding France) and Africa: €189.3 M (-24.6%)
  • North America: €166.0 M (-17.8%)
  • Asia and the Middle East (including Turkey): €99.4 M (-11.9%)
  • South America: €3.3 M (-53.5%)

Net cash continued to increase in the third quarter, totalling €42.2 million (excluding IFRS 16 impact) at the end of September 2020.

The signs of recovery seen in the third quarter must be tempered in a context of new restrictions associated with the second wave of the COVID-19 pandemic, especially in Europe and the United States. AKWEL continues to operate in a low-visibility market by relying on the flexibility and effectiveness of its business model and prioritising its investments to support market trends, particularly in clean vehicles.

An independent, family-owned group listed on the Euronext Paris Stock Exchange, AKWEL is an automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, offering first-rate industrial and technological expertise in applying and processing materials (plastics, rubber, metal) and mechatronic integration.

Operating in 20 countries across every continent, AKWEL employs more than 10,500 people worldwide.

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Sanofi selects Jeito Capital as its first investment into a private French-based fund

Rafaèle Tordjman Launches JEITO CAPITAL, a New Private Equity Company  Dedicated to Biotech-biopharmaceuticals, and Announces the Closing of JEITO  I at €200 Million

Sanofi selects Jeito Capital as its first investment into a private French-based fund

Paris, France, 13 November 2020 – Jeito Capital (“Jeito”), a rapidly emerging independent investor dedicated to biotech and biopharma, today announced that Sanofi has made a €50 million investment in Jeito Capital. The investment will be deployed by Jeito’s highly experienced team of pharmaceutical and biotech experts in line with its investment criteria to provide an additional gateway for Sanofi to support French and European healthcare innovation. The coming together of a leader in industry with a leading investor will strengthen the ever-important healthcare eco-system and accelerate access to therapeutic innovation.

Rafaèle Tordjman, Founder and CEO at Jeito, said: “We are delighted that Sanofi chose to become a major strategic investor in Jeito. Receiving such support from one of the global leaders in healthcare and France’s largest R&D investor underlines Jeito’s commitment to improving healthcare in France and Europe. By bringing together industry and science and providing access to significant capital, Jeito is ideally positioned to deliver on its mission to improve healthcare for patients in France and beyond.”

Paul Hudson, CEO of Sanofi, said: “We are pleased to collaborate with Jeito Capital and its international team of pharma and biotech experts who are renowned for creating value through innovation. This investment provides Sanofi with access to the very best in French and European healthcare innovation and reinforces our commitment to investing in our medium and long-term development pipeline. We strongly believe in the potential of France and Europe to become a world-class hub for innovation in life sciences, which just needs the appropriate conditions and a stimulating environment in order to thrive.”

Jeito’s unique investment strategy is to provide long-term strategic support to new and established entrepreneurs, primarily in France and Europe, who are aspiring to help patients in need by pioneering novel, groundbreaking medicines that rethink traditional approaches. Leveraging their synergistic experience, Jeito’s team provides continuity from clinical development to market access, especially in Europe and the Unites States, for breakthrough drugs with validated proofs of concept. This continuity is expressed both in the support provided to entrepreneurs by the Jeito team and by the investment of significant capital to ensure the growth of companies, the acceleration towards commercialization and faster access to these major innovations.

This investment is part of Sanofi’s leading contribution to the development of an innovative healthcare eco-system in France and Europe. The company previously collaborated with Bpifrance to launch two public-private investment funds dedicated to French and European life sciences. Sanofi also stands as France’s leading private R&D investor, with more than €2 billion spent locally each year researching new treatments for patients, totaling half of the private research effort in France. Nearly 5,000 researchers and scientists work in a variety of therapeutic areas, mainly focusing on oncology, immuno-oncology, vaccines and rare diseases.

About Jeito Capital
Jeito Capital is an international investment company with a patient benefit driven approach that focuses both on financing ground-breaking medical innovation and promoting positive societal impact. Jeito has a unique, long-term investment strategy, with the aim of providing continuity from clinical development to market access for breakthrough drugs with validated proofs of concept. This continuity is expressed both in the support provided to entrepreneurs by the Jeito Capital team and by the investment of significant capital to ensure the growth of companies, the acceleration towards commercialization and faster access to these major innovations.  Jeito Capital is based in Paris with a presence in Europe and the United States.

About Sanofi
Sanofi is dedicated to supporting people through their health challenges. We are a global biopharmaceutical company focused on human health. We prevent illness with vaccines, and provide innovative treatments to fight pain and ease suffering. We stand by the few who suffer from rare diseases and the millions with long-term chronic conditions. With more than 100,000 people in 100 countries, Sanofi is transforming scientific innovation into healthcare solutions around the globe.

For more information please contact:

Jeito Capital

Rafaèle Tordjman, Founder and CEO

contact@jeito.life

Consilium Strategic Communications

Mary-Jane Elliott / Melissa Gardiner / Kris Lam

Jeito@consilium-comms.com

Steele & Holt (France)

Servane Taslé : servane@steeleandholt.com

Anaïs Miegeville : anais@steeleandholt.com

Sanofi

Chrystel Baude : mr@sanofi.com

Tel: +33 6 35 36 35 00

Tel: +44 (0) 20 3709 5700

Tel: +33 6 66 58 84 28

Tel: +33 6 33 73 85 16

Tel: +33 1 53 77 46 46

Guardion Health Sciences Announces Financial Results for the Three Months and Nine Months Ended September 30, 2020

Guardion Also Provides Corporate Update

SAN DIEGO, Nov. 12, 2020 (GLOBE NEWSWIRE) — Guardion Health Sciences, Inc. (Nasdaq: GHSI) (“Guardion” or the “Company”), a specialty health sciences company that develops clinically supported nutrition, medical foods and medical devices, with a focus in the ocular health marketplace, announced financial results for the three months and nine months ended September 30, 2020, and is also providing a corporate update.

Financial and corporate highlights for the three months and nine months ended September 30, 2020 include the following:

  • Total revenue was approximately $253,000 for the three months ended September 30, 2020, as compared to approximately $161,000 for the three months ended September 30, 2019, an increase of 57%.
  • Medical foods sales are up 26% for the three months ended September 30, 2020, as compared to the three months ended September 30, 2019.
  • Medical devices sales are up 147% for the three months ended September 30, 2020, as compared to the three months ended September 30, 2019.
  • Net loss for the three months ended September 30, 2020 was approximately ($2,143,000) or ($0.02) per share, as compared to a net loss of approximately ($2,385,000) or ($0.07) per share for the three months ended September 30, 2019.
  • Cash balance at September 30, 2020 was approximately $9,800,000.
  • Ho Wah Genting Berhad (“HWGB”), the Company’s distributor in Malaysia, has received product registration approval from the Malaysian National Pharmaceutical Regulatory Agency (“NPRA”) for Astramern Nutra V, an immune support dietary supplement designed and produced by Guardion; approval for Astramern Nutra H, an herb formulation that HWGB intends to market together with Astramern Nutra V, continues to be pending with the Malaysian NPRA.
  • Publication of promising new data in the journal Nutrients (published   October 26, 2020), which compared the efficacy of the Company’s Lumega-Z® to the current standard of care, the AREDS-2 soft gel supplement (marketed under the PreserVision® brand by Bausch + Lomb) in patients with vision problems associated with eye disease. Lumega-Z® demonstrated statistically significant vision improvements in both eyes at six months (p < 0.001), and a positive linear trend with treatment time (p < 0.001), with benefits visible after just three months; whereas the AREDS-2 supplement gel cap formulation provided no significant change (p > 0.05).
  • Initiation of investigator-initiated clinical trials designed to evaluate the impact of Lumega-Z® on the restoration of the macular pigment and its relationship to the stabilization or recovery of vision in patients with eye disease. It is believed that depletion of the macular pigment at the back of the eye is a risk factor for vision problems related to age-related macular degeneration (“AMD”), glaucoma and other serious eye diseases.
  • Guardion retained the investment banking firm Corporate Finance Associates (“CFA”) to act as its exclusive financial advisor to assist management and the Board of Directors in the identification and evaluation of strategic transactions to enhance shareholder value.
  • At the Company’s Annual Meeting of Shareholders held on October 29, 2020, shareholders approved all four matters presented for approval.
  • Trademark for “NutriGuard” issued on October 27, 2020 by the U.S. Patent and Trademark Office under Class 5 – nutritional dietary supplements.

David Evans, Ph.D., Guardion’s interim President and Chief Executive Officer, and Chief Science Officer, commented, “As we continue to develop our investment into clinical research to build strong differentiated brand claims, we are entering the commercial phase of our business development process. Despite a challenging environment with the COVID-19 pandemic, which has slowed our progress both in terms of connecting directly with doctors and consumers, as well as conducting day-to-day business, sales continue to be up year-over-year. Over the course of this pandemic, it has become increasingly clear that there are multiple business opportunities for Guardion to explore, including enhancing our digital distribution channels and e-commerce platform and expanding our international distribution opportunities. In addition, we are working closely with CFA to identify and evaluate strategic transactions and opportunities to enhance shareholder value.”

Dr. Evans concluded, “We continue to receive third party validation of our products, including recently published studies, in the journal Nutrients, showing superior efficacy of our proprietary formulation, Lumega-Z®, in terms of both absorption level and improvement in visual function, versus PreserVision®, the industry leading AREDS-2 gel cap product formulation. These results clearly support our brand messaging and offer an evidenced-based foundation to support our evolving product development strategies. We will continue our commitment to scientific and clinical validation of our proprietary products and to report on our results to our shareholders as this information occurs.”

Results of Annual Meeting of Shareholders and Nasdaq Delisting Issue

On October 29, 2020, the Company held its annual meeting of shareholders (the “Meeting”). At the Meeting, the Company’s shareholders approved all four proposals, including extending the discretionary authority previously granted to the Board of Directors to effect a “reverse stock split,” at a specific ratio within a range of no split and one-for-thirty (1-for-30), with the exact ratio to be determined by the Board of Directors in its sole discretion on or before October 29, 2021.

Since the Company does not intend to execute a reverse stock split prior to November 30, 2020, Guardion expects to receive a notice of delisting from The Nasdaq Capital Market (“Nasdaq”) shortly after November 30, 2020 because the trading price of the Company’s common stock does not meet the $1.00 per share minimum bid price requirement.

The Company intends to appeal any notice of delisting that Nasdaq issues after November 30, 2020 to request a further extension of time (not to exceed 180 days from the date of the notice of delisting) to regain compliance with the $1.00 minimum bid price requirement. Such temporary relief would allow the Company additional time to execute on its business initiatives to generate greater shareholder value, which the Company hopes would then be reflected by an increase in the price of the Company’s common stock. During the appeal process, the Company’s common stock will continue to be listed on Nasdaq.

A permanent delisting from Nasdaq could adversely impact the liquidity of the Company’s common stock and limit the ability of the Company to raise additional capital in the future.

Financial Results

Three Months Ended September 30, 2020

Total revenue for the three months ended September 30, 2020 increased by approximately 57% to approximately $253,000, as compared total revenue for the three months ended September 30, 2019 of approximately $161,000, primarily due to increased sales of medical foods and nutraceuticals and medical devices in the current period.

Operating expenses for the three months ended September 30, 2020 decreased by approximately 8% to approximately $2,291,000 as compared to operating expenses for the three months ended September 30, 2019 of approximately $2,503,000, primarily due to a decrease in selling and marketing expenses in the current period.

Operating loss for the three months ended September 30, 2020 decreased by approximately $260,000 to approximately ($2,152,000), as compared to the operating loss for the three months ended September 30, 2019 of approximately ($2,412,000). Net loss for the three months ended September 30, 2020 was approximately ($2,143,000), or ($0.02) per share, as compared to a net loss of approximately ($2,385,000), or ($0.07) per share, for the three months ended September 30, 2019.

Nine Months Ended September 30, 2020

Total revenue for the nine months ended September 30, 2020 increased by approximately 154% to approximately $1,690,000, as compared to total revenue for the nine months ended September 30, 2019 of approximately $665,000. This increase was primarily due to a large initial test order of a nutraceutical product placed by the Company’s Malaysian distributor of $890,000 that was recorded during the three months ended June 30, 2020 and increased sales of medical food product lines, partially offset by a decrease in medical device sales which were affected by the impact of COVID-19 closures during the nine months ended September 30, 2020.

Operating expenses for the nine months ended September 30, 2020 decreased by approximately 12% to approximately $6,018,000, as compared to operating expenses for the nine months ended September 30, 2019 of approximately $6,813,000, primarily due to a reduction of approximately $965,000 in stock-based compensation cost related to a reversal of stock-based compensation as a result of the resignation of the Company’s former President and Chief Executive Officer in June 2020.

Operating loss for the nine months ended September 30, 2020 decreased by approximately $1,214,000 to approximately ($5,196,000), as compared to the operating loss for the nine months ended September 30, 2019 of approximately ($6,410,000). Net loss for the nine months ended September 30, 2020 was approximately ($5,198,000), or ($0.06) per share, as compared to a net loss of approximately ($6,823,000), or ($0.26) per share, for the nine months ended September 30, 2019.

About Guardion Health Sciences

Guardion is a specialty health sciences company that develops clinically supported nutrition, medical foods and medical devices, with a focus in the ocular health marketplace. Located in San Diego, California, the Company combines targeted nutrition with innovative, evidence-based diagnostic technology. Guardion boasts impressive Scientific and Medical Advisory Boards. Information and risk factors with respect to Guardion and its business, including its ability to successfully develop and commercialize its proprietary products and technologies, may be obtained in the Company’s filings with the U. S. Securities and Exchange Commission (the “SEC”) at www.sec.gov.

Forward-Looking Statement Disclaimer

With the exception of the historical information contained in this news release, the matters described herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward- looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the Company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:
CORE IR
Scott Arnold
516-222-2560
scotta@coreir.com

Media Relations Contact:
Jules Abraham
Director of Public Relations
CORE IR
917-885-7378
julesa@coreir.com

Guardion Health Sciences, Inc.
Condensed Consolidated Balance Sheets
September 30, 2020     December 31, 2019  
(Unaudited)  
Assets
Current assets
Cash $ 9,795,441 $ 11,115,502
Accounts receivable 22,849 78,337
Inventories, net 1,284,173 310,941
Prepaid expenses 231,621 362,938
Total current assets   11,334,084       11,867,718  
Deposits 11,751 11,751
Property and equipment, net 305,600 374,638
Right-of-use asset, net 457,677 572,714
Intangible assets 50,000 50,000
Total assets $ 12,159,112     $ 12,876,821  
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable $ 576,890 $ 70,291
Accrued expenses 182,597 175,052
Due to former officer 230,208
Derivative warrant liability 7,519 13,323
Lease liability – current 159,962 151,568
Total current liabilities 1,157,176 410,234
Lease liability – long-term 313,909 434,747
Total liabilities 1,471,085 844,981
Commitments and contingencies
Stockholders’ Equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued
and outstanding
Common stock, $0.001 par value; 250,000,000 shares authorized;
88,327,312 and 74,982,562 shares issued and outstanding at
September 30, 2020 and December 31, 2019, respectively
88,327 74,983
Additional paid-in capital 61,308,938 57,468,528
Accumulated deficit (50,709,238 ) (45,511,671 )
Total stockholders’ equity   10,688,027       12,031,840  
Total liabilities and stockholders’ equity $ 12,159,112     $ 12,876,821  
Guardion Health Sciences, Inc.
Condensed Consolidated Statements of Operations
  Three Months Ended
September 30,
Nine Months Ended
September 30,
  2020     2019     2020     2019  
  (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)  
Revenue
Medical foods and nutraceuticals $ 142,556 $ 112,957 $ 1,446,584 $ 317,338
Medical devices 110,632 44,705 237,136 337,531
Other 3,500 6,100 9,800
Total revenue 253,188 161,162 1,689,820 664,669
Cost of goods sold
Medical foods and nutraceuticals 68,956 41,655 764,245 120,608
Medical devices 45,157 27,922 101,077 136,958
Other 1,422 2,478 3,981
Total cost of goods sold 114,113 70,999 867,800 261,547
Gross profit 139,075 90,163 822,020 403,122
Operating expenses
Research and development 34,034 31,897 109,803 138,613
Sales and marketing 167,213 448,387 1,175,126 1,246,846
General and administrative 2,070,998 2,022,367 5,299,696 5,427,573
Costs related to resignation of former officer
(including the reversal of previously recognized stock
compensation expense of $965,295 during the nine months ended
September 30, 2020)
(615,936 )
Loss on sale of equipment 18,500 18,500
Impairment loss on equipment 30,948
Total operating expenses 2,290,745 2,502,651 6,018,137 6,813,032
Loss from operations (2,151,670 ) (2,412,488 ) (5,196,117 ) (6,409,910 )
Other (income) expense:
Interest expense 3,716 4,205 7,254 255,842
Finance cost upon issuance of warrants 415,955
Change in fair value of derivative warrants (11,892 ) (31,322 ) (5,804 ) (259,154 )
Total other (income) expense 8,176 (27,117) 1,450 412,643
Net loss $ (2,143,494 )   $ (2,385,371 )   $ (5,197,567 )   $ (6,822,553 )
Net loss per common share – basic and diluted $ (0.02 ) $ (0.07 ) $ (0.06 ) $ (0.26 )
Weighted average common shares outstanding – basic and diluted 88,320,523 36,035,309 84,530,367 26,483,713
Guardion Health Sciences, Inc.
Operations by Segment (Unaudited)
For the Three Months Ended September 30, 2020  
Corporate     Medical
Foods and
Nutraceuticals
    Medical
Devices
  Total  
Revenue $ $ 142,556 $ 110,632 $ 253,188
Cost of goods sold 68,956 45,157 114,113
Gross profit 73,600 65,475 139,075
Operating expenses 1,202,402 1,081,897 6,446 2,290,745
(Loss) income from operations $ (1,202,402 )   $ (1,008,296 )   $ 59,028 $ (2,151,670 )
For the Nine Months Ended September 30, 2020  
Corporate     Medical
Foods and
Nutraceuticals
    Medical
Devices
    Total  
Revenue $ 6,100 $ 1,446,584 $ 237,136 $ 1,689,820
Cost of goods sold 2,477 764,246 101,077 867,800
Gross profit 3,623 682,338 136,059 822,020
Operating expenses 2,655,107 3,146,514 216,516 6,018,137
Loss from operations $ (2,651,484 )   $ (2,464,176 )   $ (80,457 )   $ (5,196,117 )

 

Peru Set to Host Phase 3 of COVID-19 Vaccine Clinical Trials

Peru is set to host Phase 3 clinical trials of the Janssen Pharmaceutical Cos. COVID-19 vaccine by U.S.-based pharmaceutical company Johnson & Johnson.

Dr. Jorge Gallardo, principal director of the Ensemble trial, told America Noticias TV show that Peru was chosen because of the makeup of its population and the impact of the coronavirus in the country.

Peru is seeking 3,500 participants in the multinational study that will include participants from eight countries, including the United States.

The trials will include participants with preexisting conditions, such as diabetes, and those over 60 years of age to ensure the overall efficacy of the vaccine.

Peru has one of the highest coronavirus totals in Latin America, with more than 925,000 coronavirus cases and 34,992 deaths, according to Johns Hopkins University Coronavirus Resource Center.

Source: Voice of America

Cruise Ship Forced to Dock After 5 Passengers Test Positive for Coronavirus in Caribbean

The first cruise ship to resume sailing in the Caribbean since the coronavirus outbreak expanded in March, is idled again after five passengers tested positive for the coronavirus.

SeaDream, a Norway-based luxury cruise liner, issued a statement Thursday that all crew members had tested negative for the coronavirus and that the ship’s medical staff was in the process of re-testing passengers.

SeaDream says it began strict safety protocols following a Norwegian cruise this summer, although passengers were not immediately required to wear masks when boarding the SeaDream.

The 53 passengers and 66 crew members are reportedly self-quarantining aboard the ship docked at the Port of Bridgetown in Barbados.

The cruise ship industry has been hard hit by the pandemic, with the U.S. Centers for Disease Control and Prevention issuing an order banning sailing in March, citing cruise ship travel would worsen the global spread of COVID-19.

Source: Voice of America