Company to offer the first clinically validated dietary management of sarcopenia, now available for GLP-1 muscle loss, positioning Wellgistics to help 6,500+ independent pharmacy network (‘Pharmacy Network’) and telehealth partners mitigate patient muscle loss in the GLP-1 drug market, estimated to grow to $150 billion by 2030
Company to offer first SARS-CoV-2 related natural antiviral combo for Long COVID with addition of 3CL protease inhibitor supplement Tollovid® to Galectovid 1 & 3 inhibitor Medical Food Galectovid® distribution agreement to Pharmacy Network & physicians
TAMPA, FLORIDA / ACCESS Newswire / November 14, 2025 / Wellgistics Health, Inc. (“Wellgistics”) (NASDAQ:WGRX), a leader in the integration of physical and technology healthcare infrastructure for prescription drugs, today announced that it has expanded its agreement with Tollo Health to offer the first GLP-1 companion muscle loss medical food to its 6,500+ independent pharmacy network (‘Pharmacy Network’) and physicians. The product is a branded version of a proprietary formulation that has been widely studied in metabolic dysfunction, with patients presenting diabetes type 2, heart failure, and COPD. Wellgistics will be selling the medical food as an adjunct to GLP-1 therapies to help mitigate muscle loss during weight loss while on therapy and to mitigate weight after discontinuation.
“With the GLP-1 muscle loss market sitting at $53 billion annually according to Grandview Research and expected to reach $156 billion by 2030, driven by increase in numbers of patients and availability of oral formulation, the key side effect described by patients is outsized muscle loss,” said Prashant Patel, RPh, President & Interim-CEO of Wellgistics Health. “By bringing to market a medical food alternative with significant clinical data in mitigating sarcopenia, even increasing muscle mass and strength, we are first to market with a data-driven, proprietary formulation that can potentially help patients more safely take this class of medication. We believe there is significant interest in a product to preserve muscle mass and increase strength as an pharmacy and/or physician recommend adjunct to prescription GLP-1 medications.”
Concurrent with this announcement, the Company announced that it has expanded its antiviral offering by adding 3CL protease inhibitor product Tollovid® to its already marketed galectin 1 & 3 inhibitor medical food Galectovid™ primarily targeting patients with Long COVID. Tollovid combined with Galectovid represent the first natural antiviral combination available in the market targeting SARS-CoV-2 specific replication and immune function mechanisms.
About Wellgistics Health, Inc.
Wellgistics Health (NASDAQ:WGRX) delivers medications from manufacturer to patient-faster, smarter, and more affordably. Its integrated platform connects 6,500+ pharmacies and 200+ manufacturers, offering wholesale distribution, digital prescription routing, direct-to-patient delivery, and AI-powered hub services such as eligibility, adherence, onboarding, prior authorization, and cash-pay fulfillment. As a PBM-agnostic alternative, Wellgistics provides end-to-end solutions designed to restore access, transparency, and trust in U.S. healthcare.
Tollo Health, LLC is a medical foods and precision neutraceutical company seeking to bring to market proprietary formulations for the dietary management of GLP-1 treatment-related side effects and chronic viral conditions, include Long COVID. Tollo intends to bring to market a full suite of products that provide patients with prescription medication-enabling benefits in areas with approved drugs and functional relief in conditions for which there are no approved drugs, but mechanistic understanding of the disease is improving. By using tailored natural product formulation that deliver the cGMP-manufactured ingredients with the right formulation at the right dose, Tollo aims to fill a key gap in the delivery of prescription drugs that have side effects and chronic conditions for which there are no approved treatments. For more information, please visit Tollo’s website at www.tollohealth.com.
Forward-Looking Statements
This press release may contain forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When Wellgistics Health uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, statements regarding Wellgistics Health’s strategy and descriptions of its future operations, prospects, and plans. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially. Additional factors are discussed in Wellgistics Health’s filings with the SEC, available at www.sec.gov.
Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, NY 10036 Office: (646) 893-5835 Email: info@skylineccg.com
NEW YORK, NY / ACCESS Newswire / November 14, 2025 / For decades, industries have treated physical goods and digital systems as separate worlds. Software evolved. Data evolved. Connectivity evolved. But the materials that power global trade remained static, unverifiable, and silent. SMX (NASDAQ:SMX) is changing that divide by creating something unprecedented: a global operating system for physical matter.
This operating system is not installed on servers or devices. It lives inside the materials themselves. Through molecular marking and data-linked identities, SMX enables plastics, metals, textiles, and recycled inputs to behave like governed, trackable assets rather than anonymous commodities.
Six major partnerships across three continents are now running on this new layer, turning raw materials into data-ready participants in the world economy. This is not an upgrade. It is a full redesign of how materials work. Or, better said, material efficiency.
Singapore Installs the Public Sector Layer
Singapore’s collaboration with SMX and A*STAR functions like the first national deployment of the operating system. The country is assigning persistent digital identities to plastics as they move through production, consumption, and reuse.
This is not a pilot or a proof of concept. It is equivalent to installing the OS at the governmental level, enabling recycling incentives, compliance schemes, and industrial reporting to operate on verified data rather than estimated inputs. Singapore becomes the first nation where materials can run natively on the SMX architecture.
Austria Turns Machines Into System Nodes
In Austria, SMX and REDWAVE are pulling industrial automation directly into the operating system. Sorting machines that once separated plastics by type can now read and validate identity on the fly, turning conveyor belts into verification nodes and transforming recycling lines into real-time data streams.
Instead of producing material that must later be questioned or audited, these facilities generate output that is certified at the moment of processing. When this verified material enters Tradepro’s distribution network in Miami, it flows seamlessly into U.S. supply chains that increasingly require documented recycled content as a condition of participation.
Spain Deploys the Industrial Layer
Through CARTIF, Spain is installing the operating system inside the industrial environments that shape Europe’s circular-economy ambitions. The collaboration embeds molecular identity into pilot facilities that support packaging, construction materials, renewable components, and recycling technologies.
These locations function as installation zones where SMX’s architecture is woven directly into European manufacturing workflows. In a region where proof is rapidly becoming mandatory, the operating system shifts from an optional enhancement to the foundation that enables companies to stay compliant and competitive.
Gold and Silver Receive System-Level Identity
The financial layer is established through trueGold and Goldstrom, bringing precious metals into the operating system for the first time. Gold and silver can now carry a molecular ID that persists through melting, casting, vaulting, and resale, allowing the metals to behave as authenticated digital objects rather than static commodities.
Refiners gain precision in tracking provenance, banks gain certainty when assessing collateral, and auditors gain clarity in verifying inventory and movement. After centuries of reliance on stamps, certificates, and trust, gold and silver become system-aware materials whose identities cannot be forged or lost.
France Installs the Consumer-Material Layer
CETI in France is integrating SMX identity into fibers and fabrics, giving the textile sector an operating system it has never had. For decades, fashion relied on labels, supplier declarations, and marketing narratives to explain where materials came from and how they were made. Now, identity is embedded at the fiber level itself, turning every thread into a carrier of verifiable truth. Sustainability claims become measurable rather than symbolic, fiber blends become certifiable rather than estimated, and recycled content becomes traceable with a level of precision the industry has never achieved.
This shift reaches far beyond compliance. It changes how brands design collections, how manufacturers qualify suppliers, and how retailers price goods tied to environmental performance. Investors gain access to datasets that withstand scrutiny, and regulators gain a mechanism to enforce standards without relying on voluntary disclosures. Consumers, meanwhile, gain something the fashion world has always promised but rarely delivered: transparency they can trust.
As identity becomes inseparable from the fabric, textiles stop living in the realm of slogans and start functioning as proof-bearing products. The result is a consumer-material layer in which every garment participates in the broader verification ecosystem, carrying its history, composition, and integrity throughout its lifecycle.
A Global Operating System Takes Shape
Each partnership adds a new layer to the operating system, and together they form a structure that behaves like a digital stack for the physical world. Singapore establishes the national layer, proving that a country can run its plastics economy on verified material identity rather than assumptions. In Austria and the United States, REDWAVE and Tradepro expand the system into the industrial and commercial layers, where machinery and distribution channels begin treating materials as certifiable data instead of anonymous inputs.
Spain’s CARTIF contributes to the regulatory layer, ensuring that verification becomes inseparable from European circular-economy standards and compliance frameworks. Goldstrom adds the financial layer by giving gold and silver a molecular identity that functions like a secure credential inside the metals market. And in France, CETI completes the consumer layer by weaving identity directly into the textiles people wear, buy, recycle, and return to the value chain.
Layer by layer, the operating system becomes fully dimensional, spanning nations, factories, regulators, investors, and consumers until the entire material world begins operating on the same foundation of verified truth.
As these layers link together, the world shifts from unverifiable supply chains to authenticated material ecosystems. The OS becomes self-propelling. Adoption accelerates because verified materials outperform unverifiable ones. Compliance becomes simpler. Fraud becomes harder. Waste becomes measurable. Value becomes traceable.
SMX is not simply scaling a technology. It is installing a global operating system for how physical materials participate in commerce. And for the first time, the world is ready to run on it.
About SMX
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements
This editorial contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are not historical facts and reflect current expectations, hopes, beliefs, intentions, or strategies regarding future events. Words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying terms.
Forward-looking statements in this editorial include, for example, statements regarding SMX’s partnership activities in Singapore, Europe, and the United States, the development and expansion of its molecular marking technology, the potential creation and growth of an Internet of Materials, expected benefits from collaborations with A*STAR, REDWAVE, Tradepro, CARTIF, Goldstrom, and CETI, the potential for national and industrial-scale implementation of SMX systems, the anticipated role of molecular traceability in global supply chains, and expectations relating to SMX’s future products, services, growth strategy, commercial adoption, and technology roadmap.
These forward-looking statements are based on information available as of the date of publication and reflect current expectations, forecasts, assumptions, and judgments. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and factors that could cause actual results to differ materially from those expressed or implied.
Factors that may cause actual results to differ include changes in applicable laws or regulations, the ability of SMX and its partners to successfully develop, deploy, and commercialize molecular verification technologies, the timing and success of integration into manufacturing and recycling systems, market acceptance of SMX’s solutions, industry adoption rates for traceability and digital passport systems, the ability to protect and enforce intellectual property rights, the availability of financing to support future growth, competitive pressures within the verification and materials technology sectors, and economic or supply chain disruptions that could impact the industries SMX serves.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. SMX undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this editorial except as required by applicable securities laws.
Net income from continuing operations of $5.9 million in Q3 2025
Gross margin increased 20.0% sequentially to 49.4%
Balance sheet at September 30, 2025, strongest in the Company’s history with $81.5 million in DAT assets and cash, no debt and shareholders’ equity of $78.7 million
Management expects continued positive momentum in Q4 2025
FRISCO, TEXAS / ACCESS Newswire / November 13, 2025 / GameSquare Holdings, Inc. (NASDAQ:GAME), (“GameSquare”, or the “Company”), today announced financial results for the three- and nine-months ended September 30, 2025.
“2025 is a defining year for GameSquare and our third quarter results confirm that our strategy is working,” stated Justin Kenna, CEO of GameSquare. “We are sharper, stronger, and more focused than ever as the actions we have taken over the past year have improved profitability, strengthened our balance sheet and positioned us with a differentiated, end-to-end platform built for scale.”
“During the third quarter, we wound down Frankly Media, consolidated our technology businesses under Stream Hatchet, and acquired Click Management (“Click”). These actions have expanded GameSquare’s profitability and strengthened our go forward operating platform. Click is already demonstrating its strategic and financial value by deepening our reach into creator-led brand partnerships, accelerating growth across our media and agency ecosystems, and unlocking new expansion opportunities. Combined with Zoned, Stream Hatchet, GameSquare Experiences, FaZe Clan Esports, and global media partnerships, we now operate one of the most comprehensive and integrated platforms in the industry.”
“This quarter also marked a milestone with the launch of our digital asset treasury strategy. With the support of established onchain advisors and partners, we have built an institutional-grade, yield-generating asset strategy that enhances our balance sheet, introduces a compounding return engine, and creates strategic optionality that complements our core operating business. Importantly, this also enabled us to fund our initial share repurchase program, reflecting our commitment to driving shareholder value.”
“GameSquare has never been in a stronger strategic, operational, or financial position. We have proactively streamlined our business, invested in high-growth areas, strengthened margins, and expanded our total addressable market. As we enter the next chapter of growth, we are doing so with momentum, a fortified balance sheet, and a scalable platform built to win in media, creators, gaming, and Web3. The progress we are making today sets the stage for durable growth, expanding profitability, and long-term value creation for our shareholders,” concluded Mr. Kenna.
GameSquare’s Treasury Management Assets at September 30, 2025:
Ethereum (“ETH”) Assets: The Company held 15,618 ETH, with an original cost basis of $55.5 million, almost all of which was in its onchain yield strategy with Dialectic, with an unrealized gain on ETH of $9.3 million in the third quarter.
NFT Holdings: The Company owned eight CryptoPunks for a total value of $6.9 million, which the Company expects will begin contributing to its yield strategy in the fourth quarter.
Altcoin Assets: The Company had $3.8 million of altcoins on its balance sheet at September 30, 2025, primarily in $Anime and $Rekt Coin.
Yield Strategy: GameSquare’s onchain yield strategy with Dialectic commenced August 1, 2025, and achieved a yield of $0.6 million for the last two months of the quarter.
Total DAT + Cash: The Company had $81.5 million in ETH, NFT, Altcoin investments, interests in the Dialectic onchain yield strategy and cash, or $0.83 per share and no debt outstanding as of September 30, 2025.
Stock Repurchase: On October 3, 2025, GameSquare announced its initial stock repurchase under its previously announced $5 million authorization. The Company repurchased 833,124 shares of its common stock for $599,148, representing an average price of approximately $0.72.
Reported results for the three months ended September 30, 2025, compared to September 30, 2024
Revenue of $11.3 million, compared to $9.3 million
Gross profit of $5.6 million, compared to $4.2 million
Gross margin of 49.4%, compared to 45.3%
Net income from continuing operations of $5.9 million, compared to a net loss from continuing operations of $3.9 million
Net loss attributable to GameSquare of $0.8 million, compared to a net loss of $5.5 million
Net loss attributable to GameSquare was 7.1% of revenue, versus 58.9% of revenue
Adjusted EBITDA loss of $0.6 million, compared to a loss of $0.9 million
Adjusted EBITDA loss was 5.3% of revenue, versus 9.5% of revenue
Proforma* results for the three months ended September 30, 2025
Revenue of $15.5 million
Gross profit of $6.7 million
Adjusted EBITDA loss of $0.2 million
* Proforma financial results includes the results of Click for the full 2025 third quarter
Reported results for the nine months ended September 30, 2025, compared to September 30, 2024
Revenue of $26.5 million, compared to $19.9 million
Gross profit of $11.0 million, compared to $7.5 million
Gross margin of 41.6%, compared to 37.6%
Net loss from continuing operations of $1.8 million, compared to a net loss from continuing operations of $15.3 million
Net loss attributable to GameSquare of $9.0 million, compared to a net loss of $22.4 million
Net loss attributable to GameSquare was 33.8% of revenue, versus 112.2% of revenue
Adjusted EBITDA loss of $6.3 million, compared to a loss of $8.8 million
Adjusted EBITDA loss was 23.9% of revenue, versus 44.3% of revenue
Use of Non-GAAP Financial Measures
This release includes measures that are not in accordance with U.S. generally accepted accounting principles (“Non-GAAP measures”). These Non-GAAP measures should be viewed in addition to, and not as a substitute for, the Company’s reported GAAP results, and may be different from Non-GAAP measures used by other companies. In addition, these Non-GAAP measures are not based on any comprehensive set of accounting rules or principles. GameSquare’s management uses these Non-GAAP measures for internal budgeting and forecasting purposes and to evaluate GameSquare’s financial performance. GameSquare’s management believes the presentation of these Non-GAAP measures is useful to investors for comparing prior periods and analyzing ongoing business trends and operating results. For further information regarding these Non-GAAP measures, please refer to the tables presenting reconciliations of our Non-GAAP results to our U.S. GAAP results and the “Management’s use of Non-GAAP Measures” that accompany this press release.
Updated 2025 Outlook
The Company believes its operating and financial trajectory in the second half of 2025 will be significantly stronger, supported by the Company’s digital asset treasury strategy, sales pipeline, the contribution of the September 11, 2025, Click Management acquisition, and the benefit of ongoing restructuring initiatives.
On a proforma basis, GameSquare continues to expect second half revenue of $36.8 million and adjusted EBITDA of $2.9 million.
Conference Call Details
Justin Kenna, CEO, Lou Schwartz, President, and Mike Munoz CFO are scheduled to host a conference call with the investment community. Analysts and interested investors can join the call via the details below:
Corporate Contact Lou Schwartz, President Phone: (216) 464-6400 Email: ir@gamesquare.com
Investor Relations Andrew Berger Phone: (216) 464-6400 Email: ir@gamesquare.com
Media Relations Chelsey Northern / The Untold Phone: (254) 855-4028 Email: pr@gamesquare.com
About GameSquare Holdings, Inc.
GameSquare (NASDAQ:GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan Esports, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. As a digital-native business, GameSquare provides brands with unparalleled access to world-class creators and talent, delivering authentic connections across gaming, esports, and youth culture. Complementing our operating strategy, GameSquare has developed an innovative treasury management program designed to generate yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the Company’s future performance, revenue, growth and profitability; and the Company’s ability to execute on its current and future business plans. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company’s ability to grow its business and being able to execute on its business plans, the success of Company’s vendors and partners in their provision of services to the Company, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to support its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
GameSquare Holdings, Inc. Consolidated Balance Sheets (Unaudited)
September 30 2025
December 31, 2024
Assets
Cash
$
6,012,219
$
12,094,950
Restricted cash
1,475,593
1,054,030
Accounts receivable, net
13,268,734
21,330,847
Digital assets
4,020,415
–
Government remittances
286,973
119,721
Promissory note receivable, current
202,507
379,405
Prepaid expenses and other current assets
954,885
1,493,619
Total current assets
26,221,326
36,472,572
Investment
2,332,071
2,199,909
Investment in ETH
64,539,714
–
Promissory note receivable, non-current
8,581,770
9,212,785
Property and equipment, net
137,269
303,950
Goodwill
4,220,754
12,704,979
Intangible assets, definite lived, net
6,678,804
15,265,736
Intangible assets, indefinite lived
6,906,820
–
Right-of-use assets
1,500,731
2,570,516
Total assets
$
121,119,259
$
78,730,447
Liabilities and Shareholders’ Equity
Accounts payable
$
18,445,123
$
27,349,372
Accrued expenses and other current liabilities
12,089,146
13,694,179
Players liability account
47,535
47,535
Deferred revenue
5,239,322
2,726,121
Current portion of operating lease liability
433,390
748,916
Line of credit
(118,945
)
3,501,457
Convertible debt carried at fair value, current
–
6,481,704
Warrant liability
7,045
14,314
Deferred purchase consideration
3,996,548
–
Arbitration reserve
164,091
199,374
Total current liabilities
40,303,255
54,762,972
Convertible debt carried at fair value, non-current
–
9,908,784
Contingent purchase consideration, non-current
807,000
–
Operating lease liability
1,265,332
2,054,443
Total liabilities
42,375,587
66,726,199
Commitments and contingencies (Note 14)
Preferred stock ($0.0001 par value, 50,000,000 authorized, 3,433 and 0 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively)
–
–
Common stock ($0.0001 par value, 100,000,000 shares authorized, 98,380,767 and 32,635,995 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively)
9,838
3,264
Additional paid-in capital
210,411,286
119,438,370
Accumulated other comprehensive loss
(524,003
)
(208,617
)
Non-controlling interest
–
14,942,287
Accumulated deficit
(131,153,449
)
(122,171,056
)
Total shareholders’ equity
78,743,672
12,004,248
Total liabilities and shareholders’ equity
$
121,119,259
$
78,730,447
GameSquare Holdings, Inc. Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
Three months ended September 30,
Nine months ended September 30,
2025
2024
2025
2024
Revenue
$
11,315,003
$
9,306,777
$
26,542,646
$
19,930,359
Cost of revenue
5,722,273
5,091,393
15,500,495
12,439,479
Gross profit
5,592,730
4,215,384
11,042,151
7,490,880
Operating expenses:
General and administrative
6,170,930
3,744,312
13,766,667
11,806,277
Selling and marketing
1,464,040
1,196,593
4,188,399
4,116,694
Research and development
519,275
450,637
1,550,378
1,447,954
Depreciation and amortization
271,484
350,324
727,789
1,025,004
Restructuring charges
(1,535,097
)
330,167
(814,377
)
330,167
Other operating expenses
1,095,258
1,287,223
2,387,823
3,417,687
Total operating expenses
7,985,890
7,359,256
21,806,679
22,143,783
Loss from continuing operations
(2,393,160
)
(3,143,872
)
(10,764,528
)
(14,652,903
)
Other income (expense), net:
Interest income (expense)
166,831
178,008
309,733
(17,072
)
Loss on debt extinguishment
–
(1,032,070
)
–
(1,032,070
)
Change in fair value of convertible debt carried at fair value
(38,033
)
(98,937
)
289,883
357,822
Change in fair value of warrant liability
19,659
26,482
7,275
79,382
Arbitration settlement reserve
45,917
113,583
35,283
252,208
Other income (expense), net
8,145,567
21,267
8,276,426
(246,066
)
Total other income (expense), net
8,339,941
(791,667
)
8,918,600
(605,796
)
Loss from continuing operations before income taxes
5,946,781
(3,935,539
)
(1,845,928
)
(15,258,699
)
Income tax benefit
–
–
–
–
Net income (loss) from continuing operations
5,946,781
(3,935,539
)
(1,845,928
)
(15,258,699
)
Net income (loss) from discontinued operations
(6,755,224
)
(3,528,876
)
(9,154,597
)
(9,469,805
)
Net loss
(808,443
)
(7,464,415
)
(11,000,525
)
(24,728,504
)
Net loss attributable to non-controlling interest
–
1,979,943
2,018,132
2,369,533
Net loss attributable to attributable to GameSquare Holdings, Inc.
$
(808,443
)
$
(5,484,472
)
$
(8,982,393
)
$
(22,358,971
)
Comprehensive loss, net of tax:
Net loss
$
(808,443
)
$
(7,464,415
)
$
(11,000,525
)
$
(24,728,504
)
Change in foreign currency translation adjustment
70,071
360,004
(315,386
)
373,187
Comprehensive loss
(738,372
)
(7,104,411
)
(11,315,911
)
(24,355,317
)
Comprehensive loss attributable to non-controlling interest
–
1,979,943
2,018,132
2,369,533
Comprehensive loss
$
(738,372
)
$
(5,124,468
)
$
(9,297,779
)
$
(21,985,784
)
Income (loss) per common share attributable to GameSquare Holdings, Inc. – basic and assuming dilution:
From continuing operations
$
0.07
$
(0.13
)
$
(0.03
)
$
(0.58
)
From discontinued operations
(0.08
)
(0.05
)
(0.13
)
(0.27
)
Loss per common share attributable to GameSquare Holdings, Inc. – basic and assuming dilution
$
(0.01
)
$
(0.18
)
$
(0.16
)
$
(0.85
)
Weighted average common shares outstanding – basic and diluted
87,949,202
31,270,253
54,733,322
26,378,453
Management’s use of Non-GAAP Measures
This release contains certain financial performance measures, including “EBITDA” and “Adjusted EBITDA,” that are not recognized under accounting principles generally accepted in the United States of America (“GAAP”) and do not have a standardized meaning prescribed by GAAP. As a result, these measures may not be comparable to similar measures presented by other companies. For a reconciliation of these measures to the most directly comparable financial information presented in the Financial Statements in accordance with GAAP, see the section entitled “Reconciliation of Non-GAAP Measures” below.
We believe EBITDA is a useful measure to assess the performance of the Company as it provides more meaningful operating results by excluding the effects of expenses that are not reflective of our underlying business performance and other one-time or non-recurring expenses. We define “EBITDA” as net income (loss) before (i) depreciation and amortization; (ii) income taxes; and (iii) interest expense.
Adjusted EBITDA
We believe Adjusted EBITDA is a useful measure to assess the performance of the Company as it provides more meaningful operating results by excluding the effects of expenses that are not reflective of our underlying business performance and other one-time or non-recurring expenses. We define “Adjusted EBITDA” as EBITDA adjusted to exclude extraordinary items, non-recurring items and other non-cash items, including, but not limited to (i) share based compensation expense, (ii) transaction costs related to merger and acquisition activities, (iii) arbitration settlement reserves and other non-recurring legal settlement expenses, (iv) restructuring costs, primarily comprised of employee severance resulting from integration of acquired businesses, (v) impairment of goodwill and intangible assets, (vi) gains and losses on extinguishment of debt, (vii) change in fair value of assets and liabilities adjusted to fair value on a quarterly basis, (viii) gains and losses from discontinued operations, and (ix) net income (loss) attributable to non-controlling interest.
Reconciliation of Non-GAAP Measures
A reconciliation of Adjusted EBITDA to the most directly comparable measure determined under US GAAP is set out below. (Unaudited)
Three months ended September 30,
Nine months ended September 30,
2025
2024
2025
2024
Net loss
$
(808,443
)
$
(7,464,415
)
$
(11,000,525
)
$
(24,728,504
)
Interest expense
(166,831
)
(178,008
)
(309,733
)
17,072
Income tax benefit
–
–
–
–
Amortization and depreciation
271,484
350,324
727,789
1,025,004
Share-based payments
1,871,720
267,117
1,906,334
1,288,484
(Gain) loss on digital assets
(8,060,149
)
–
(8,060,149
)
–
Transaction costs
1,095,258
1,287,223
2,387,823
3,417,687
Arbitration settlement reserve
(45,917
)
(113,583
)
(35,283
)
(252,208
)
Restructuring costs
(1,535,097
)
330,167
(814,377
)
330,167
Loss on extinguishment of debt
–
1,032,070
–
1,032,070
Change in fair value of warrant liability
(19,659
)
(26,482
)
(7,275
)
(79,382
)
Change in fair value of convertible debt carried at fair value
NEW YORK, NY / ACCESS Newswire / November 14, 2025 / Every region that grows eventually confronts a question it cannot ignore: who can prove what actually happened. Europe hit that point the moment regulators began tying economic incentives to measurable sustainability. Suddenly, recycling claims were not enough. Companies needed evidence. Industries needed confidence. Governments needed traceable performance.
Spain answered that call first. In Valladolid, a new model for industrial growth is taking shape through a collaboration between SMX (NASDAQ:SMX) and CARTIF,one of Europe’s most influential applied research hubs. Their work is turning the idea of a circular economy into something concrete and accountable, functioning as both a scientific system and an economic engine.
The Castilla y León region has long been an industrial heavyweight, with an annual output of billions. Now it is positioning itself as something deeper. Growth will not hinge on volume. It will hinge on verifiable value. That shift begins with the way materials are traced, authenticated, and reintegrated into production cycles.
Where Spain’s Industrial Base Meets Molecular Truth
SMX provides the foundation. Its molecular tracing system allows materials to carry their own identity, a physical signature that stays embedded throughout manufacturing, reuse, and recycling. It functions like a memory. Once applied, the marker bonds at the molecular level, creating a digital passport that travels with the material at every stage.
This gives companies something that never existed at scale in Europe. A way to confirm the origin. A way to audit real-world movement. A way to verify return into the value chain with scientific certainty.
CARTIF then turns that capability into performance. With SMX embedded across its pilot plants and applied research programs, Spain gains a real-time measurement loop that links innovation to documented results. Data that once took years to gather through surveys and audits now appears instantly through verified material activity. Companies can qualify for grants faster. They can meet compliance targets faster. They can validate R&D faster. Evidence becomes a growth strategy.
Innovation That Speeds Up the Economy Instead of Slowing It
The pace of verification is the real breakthrough here. For decades, businesses treated sustainability as something that consumed time and margin. Now the opposite is true. Once a material carries a verifiable passport, its journey becomes a bankable metric. Lenders can underwrite it. Regulators can trust it. Markets can reward it.
SMX and CARTIF effectively connect environmental behavior to financial upside, turning transparency into a competitive lever instead of an operational burden. A circular economy with credible measurement does not drain resources. It compounds them.
Spain stands on the shoulders of global proof. SMX demonstrated this model at the national scale in Singapore through its work with A*STAR. That initiative tracked waste streams, verified recycled content, and established a tradable digital framework for circular materials. The success of that effort created a blueprint that now connects Asia and Europe through a shared layer of traceable, measurable sustainability.
Proof That Scales Beyond Borders
The system demonstrated in Singapore and Valladolid is not local. It is universal. A molecular signature embedded in Spanish packaging can function the same way inside an Italian food processor, a German automotive plant, or a French construction project. Verification travels without friction.
Every new material added to the network strengthens its resonance. The result is a distributed web of authenticated activity that gradually reshapes how Europe measures industrial performance.
CARTIF plays a central role in this expansion. Its sustainability programs span packaging, renewables, mobility systems, construction materials, and critical resources. With SMX feeding verified data into those programs, Spain becomes a proving environment that links research, industry, and public policy into one loop of measurable progress.
Deputy General Manager Sergio Sanz has been clear. The technology delivers exactly what companies need to prove their claims, refine their processes, and demonstrate circular performance with scientific precision. That alignment is what transforms proof into actionable value.
Europe’s New Industrial Playbook Begins in Spain
Spain is not just deploying technology. It is defining a new framework for European industry. One where innovation is tied to measurement, and measurement is tied to growth. Academics, startups, manufacturers, and local governments now operate with a shared layer of data they can all trust.
This creates a coordinated marketplace of evidence. It removes uncertainty. It creates incentives for verification instead of incentives for vague declarations.
Circularity only becomes meaningful when it is measurable. It is not enough to say a product was recycled or reused. The world needs confirmation that the cycle occurred. SMX supplies the identity. CARTIF supplies the scale. Together, they convert the circular economy from promise to proof and from proof to economic performance.
This moment marks the beginning of Europe’s next industrial chapter. A shift toward regenerative growth powered by verifiable action. Each traced material adds measurable worth. Each verified transaction acts as an economic weight. Each validated process tightens the loop of material efficiency across the continent.
Circularity in Europe is no longer just a concept. Thanks to the partnership between SMX and CARTIF, it is becoming functional, profitable, and real.
About SMX
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements
This editorial contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward looking statements reflect expectations and assumptions regarding future events involving SMX (NASDAQ: SMX), its collaborative initiatives with CARTIF, its molecular tracing technologies, and the development and expansion of verified circularity programs in Spain, the European Union, and other global regions. Forward looking statements are not historical facts. They are based on current beliefs, estimates, and assumptions that are subject to risks, uncertainties, and variables that are difficult to predict.
Forward looking statements in this editorial include, without limitation, expectations concerning the continued integration and performance of SMX’s molecular physical-to-digital technology; anticipated commercial deployment across industrial sectors in Castilla y León and Europe; the potential scalability of SMX’s material-level verification systems into research programs, supply chains, and pilot plants operated by CARTIF; and the projected ability of these systems to enhance grant qualification, regulatory compliance, material recovery, and sustainability-linked financing. These statements also include expectations regarding advancements in Spain’s circular economy infrastructure; the potential for SMX and CARTIF to create new economic efficiencies through verified material flows; anticipated alignment with European Union regulatory frameworks, including the Digital Product Passport, sustainability reporting standards, and ESG-linked financing mechanisms; and the potential for global replication of systems demonstrated in Singapore and Europe.
Additional forward looking statements relate to broader market and industry conditions, including the belief that verifiable traceability may increase brand value, reduce compliance costs, accelerate adoption of circular supply chains, and unlock new revenue opportunities tied to authenticated material movements. Assumptions concerning future demand for verifiable recycled content, the maturation of circular economies across global markets, and the potential for SMX technologies to enable transparent material ecosystems also fall within the scope of these statements.
These forward looking statements are subject to numerous risks and uncertainties that could cause actual outcomes to differ materially from those expressed or implied. Factors that may impact results include, but are not limited to: changes in European Union regulatory requirements; shifts in consumer, corporate, or governmental sustainability priorities; macroeconomic conditions; geopolitical developments; supply chain disruptions; competitive technological advancements; scientific or technical challenges in large-scale deployment of molecular markers; operational risks in pilot or commercial settings; and other factors described in SMX’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
Readers are cautioned not to place undue reliance on forward looking statements. These statements speak only as of the date of publication. SMX undertakes no obligation to update or revise forward looking statements to reflect subsequent events, changes in circumstances, or new information, except as required by applicable law.
Company plans to file its Earnings Report on November 14, 2025 on Form 10-Q for the quarter ended September 30, 2025
SAN FRANCISCO, CA / ACCESS Newswire / November 14, 2025 / Jaguar Health, Inc. (NASDAQ:JAGX) today announced that the company will conduct an investor webcast on Monday, November 17, 2025, at 8:30 a.m. Eastern to review third-quarter 2025 financials and provide corporate updates.
Participation Instructions for Jaguar Investor Webcast
When: Monday, November 17, 2025 at 8:30 AM Eastern Time
Participant Registration & Access Link: Click Here
About the Jaguar Health Family of Companies Jaguar Health, Inc. (Jaguar) is a commercial stage pharmaceuticals company focused on developing novel proprietary prescription medicines sustainably derived from plants from rainforest areas for people and animals with gastrointestinal distress, specifically associated with overactive bowel, which includes symptoms such as chronic debilitating diarrhea, urgency, bowel incontinence, and cramping pain. Jaguar family company Napo Pharmaceuticals (Napo) focuses on developing and commercializing human prescription pharmaceuticals for essential supportive care and management of neglected gastrointestinal symptoms across multiple complicated disease states. Napo’s crofelemer is FDA-approved under the brand name Mytesi® for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy. Jaguar family company Napo Therapeutics is an Italian corporation Jaguar established in Milan, Italy in 2021 focused on expanding crofelemer access in Europe and specifically for orphan diseases. Jaguar Animal Health is a Jaguar tradename. Magdalena Biosciences, a joint venture formed by Jaguar and Filament Health Corp. that emerged from Jaguar’s Entheogen Therapeutics Initiative (ETI), is focused on developing novel prescription medicines derived from plants for mental health indications.
Forward-Looking Statements Certain statements in this press release constitute “forward-looking statements.” These include statements regarding the expectation that Jaguar will file its 10-Q on November 14, 2025 for the quarter ended September 30, 2025, and the expectation that Jaguar will hold an investor webcast on November 17, 2025. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “aim,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this release are only predictions. Jaguar has based these forward-looking statements largely on its current expectations and projections about future events. These forward-looking statements speak only as of the date of this release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond Jaguar’s control. Except as required by applicable law, Jaguar does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
ATTIKI, GREECE / ACCESS Newswire / November 14, 2025 / Elvictor Group Inc. (OTCID:ELVG) (“Elvictor” or the “Company”), a leader in maritime recruitment and crew management, today reported its financial and operational results for the third quarter ended September 30, 2025.
Total revenue for Q3 2025 was $645,905, slightly increased from $645,223 in Q3 2024, with profit from operations of $4,752 compared to $143,037 in Q2 2024. For the nine-month periods ended September 30, 2025, and September 30, 2024, total revenue reached $1,863,987 and $1,792,066, respectively-an increase of 4.0% year-over-year, largely reflecting higher agency fees.
Elvictor currently manages a crew of approximately 2,300 seafarers representing 10 nationalities across seven distinct vessel classes. With approximately 45 clients, the Company continues to execute its expansion strategy within the global shipping industry and remains in active discussions with potential partners. Management reaffirms its outlook to onboard additional vessels by year-end 2025, supporting the deployment of new seafarers with a positive contribution to EBITDA.
Konstantinos S. Galanakis, CEO of Elvictor Group Inc. commented: “We remain focused on operational discipline and sustainable expansion. Our near-term priority is to strengthen margins through efficiency measures, while continuing to grow our managed fleet and enhance our service offerings for clients worldwide.”
About Elvictor Group, Inc. Elvictor Group, Inc. (OTCID:ELVG) is transforming the fragmented maritime industry through its fully digitalized crew and ship management platform designed to enhance operational efficiency and reduce costs. With a strategic focus on AI-driven workforce solutions, M&A-driven expansion, and cost-efficient vessel ownership, Elvictor is ushering in a new era of transparency in the shipping industry. For more information, visit: https://www.elvictorgroup.com, and follow us on LinkedIn.
Cautionary Note Regarding Forward-Looking Statements Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated status of such statements. Therefore, in no case whatsoever will the Company and its affiliates be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
SHELTON, CONNECTICUT / ACCESS Newswire / November 14, 2025 / NanoViricides, Inc. (NYSE American:NNVC) (the “Company”), a clinical stage leader developing revolutionary broad-spectrum antiviral drugs that the virus cannot escape, announced that it will be presenting today, Friday, November 14th, at 11:25am ET at the Pharma Partnering Summit 2025 held at the Hilton Boston Logan Airport in Boston, MA.
Event Information:
Event
NanoViricides Presentation at the Pharma Partnering Summit 2025 in Boston, MA
Time & Date
11:25 am to 11:45 am ET on Friday, November 14, 2025
Location
Hilton Boston Logan Airport, Boston, MA
Anil R. Diwan, PhD, President and Executive Chairman of the Company will provide an update on the Company, its Drug Pipeline and Platform Technologies available for licensing.
NanoViricides’ Current Antiviral Drugs Pipeline: NV-387, A Revolutionary Broad-Spectrum Antiviral with Multiple Indications
The Phase II clinical stage revolutionary broad antiviral spectrum of NV-387 is reminiscent of the dawn of antibiotics to combat bacterial infections. Over 90% of human pathogenic viruses use heparan sulfate features, which NV-387 copies and presents to fool the virus.
NV-387 is designed to attack the virus particle and destroy it by fooling the virus to enter the NV-387 nanomicelle using the same features that the virus uses to infect cells.
Viruses cannot escape NV-387 despite all the changes in the field because the virus still needs to bind to heparan-sulfate like features in order to cause productive pathogenic infection. NV-387 presents copious amounts of these binding sites to the virus, thereby engulfing the virus particle. Viruses are unlikely to escape NV-387 because no matter how much a virus evolves, it continues to utilize and require binding to sulfated proteoglycans – the very characteristic that NV-387 emulates.
This solves the long-standing problem of antiviral medicines, that viruses escape them. Vaccines, antibodies and small chemical drugs are readily escaped by viruses as the viruses evolve in the field. This has been repeatedly observed during the recent COVID-19 pandemic, as well as in the course of most of the other viral epidemics including Influenza and HIV/AIDS.
NV-387 stands to combat viral infections where there is no current medical treatment available, including RSV for pediatrics, Measles, MPox, and others.
NanoViricides lead clinical stage drug candidate NV-387 is rapidly moving into Phase II clinical trial for the treatment of MPox in the Democratic Republic of Congo.
NV-387 for Influenza and Bird Flu
Additionally, NV-387 was found to be substantially superior to Tamiflu as well as Xofluza against Influenza virus in animal model studies of Influenza A/H3N2 lethal lung infection 1.
The H3N2 Influenza A virus, subclade K, currently circulating in the Northern Hemisphere already has several mutations that distinguish it from the subclade J strain included in this year’s Influenza vaccine. The mismatched vaccine is therefore expected to be less effective than if the circulating strain was the same as the vaccine strain. The circulating H3N2 strain is also thought to cause a more severe pathology 2. Efficacy of seasonal influenza vaccines against H3N2 strain, even when well matched, has been about half that for H1N1 subtype, in terms of protection against severe disease leading to hospitalization. Influenza seasonal vaccine efficacy in unmatched years has been reported to be as low as 11-17% 3.
Further, should Bird Flu H5N1 turn into a human outbreak, variants resistance to Tamiflu and Xofluza can be expected to generate rapidly 4. NV-387 would be the ideal drug to combat the resulting outbreak, epidemic or pandemic. The causative influenza virus would not be able to escape NV-387 5.
NV-387 for All Respiratory Viral Infections
A separate Phase II clinical trial for the evaluation of NV-387 as a first line therapy of any respiratory viral infection (NV-387 for the treatment of Viral Acute or Severe Acute respiratory Infections, Viral ARI/SARI) is being planned. Success in this clinical trial would enable NV-387 to become the first ever antiviral drug that can be prescribed by a physician based on symptoms, as an emperic therapy for respiratory viral infections, without having to test for which virus is causing the disease.
NV-387 would play in a market size of well over $20 Billion as a dominant player, if approved for such emperic therapy of viral ARI/SARI.
NV-387 was found to be highly effective against the “tripledemic” respiratory viruses, namely RSV, Influenza A, and Coronaviruses, in respective lethal animal models of lung infection. NV-387 was found to be substantially superior to existing drugs, and even resulted in complete cure in the RSV animal study. These studies prompted evaluation of NV-387 as a first line therapy of respiratory viral infections.
There is no treatment approved for RSV, an important disease for infants and children in early life, as well as for geriatric subjects.
NV-387 has shown excellent effectiveness in lethal lung infection animal models relevant for Smallpox and MPox viruses.
There is no treatment approved for MPox; tecovirimat (TPOXX) has failed clinical trials, and no results are available from the brincidofovir (TEMBEXA) clinical trial “MOSA”.
“For Smallpox bio-threat readiness, the USA remains without an effective drug because of deficiencies in the two drugs approved under animal rule 6,” asserted Anil Diwan, PhD, President of the Company, adding, “NV-387 is ready to fill this gap.”
US government acquisitions for smallpox drugs have been in the range of hundreds of millions of dollars.
Additionally, NV-387 has shown excellent effectiveness against Measles virus lethal lung infection in a humanized (hCD150+ knock-in) mouse model.
There is no treatment approved for Measles. Cases of Measles have been rapidly rising in the developing world including USA, Canada, UK and European countries. Measles is an important health threat because the disease can lead to “immune amnesia”, wiping out pre-developed immunity against other diseases, because it attacks the immune system itself.
NanoViricides’ Robust Technology Platform Has Enabled a Broad Drugs Pipeline: HerpesViruses, HIV, Others
The nanoviricides™ platform technology is yielding novel antiviral drug candidates against a number of challenging viral targets at a rapid pace.
In addition to NV-387, the Company has developed a clinical-ready pan-herpesvirus drug candidate, NV-HHV-1 that has shown activity against HSV-1, HSV-2 and VZV, and is expected to have activity against CMV, HHV-6, and HHV-8 as well.
The Company has also developed an anti-HIV drug candidate, NV-HIV-1, that has shown strong efficacy in SCID-hu-Thy-Liv animal model of HIV infection. NV-HHV-1 mimics the landing site on cellular CD4 that is required for all HIV viruses to cause cellular infection. Thus, HIV, despite constant changes, will be unable to escape NV-HHV-1.
NanoViricide Platform Enables Drug Rescue, Oral Drug Delivery, and Zip-Code Specific Delivery
Oral drug delivery of small chemicals, peptides (such as the GLP-a obesity drugs), and proteins is feasible by encapsulation of the guest drug into the nanoviricide polymeric micelle. The encapsulation protects the guest from metabolism thereby enabling effective drug delivery.
Encapsulation of a difficult or failed drug within the nanoviricide polymeric micelle can enable rescue of the drug candidate turning it into a clinically viable drug candidate, saving hundreds of millions of dollars of development work.
Going another step further, the nanoviricide platform technology can be customized to enable zip-code-like specific delivery of encapsulated drugs to specific tissues (e.g. non-liver targeted delivery),, cells (e.g. cancer-cell specific delivery sparing normal cells), bacteria, or viruses (e.g. NV-HHV-1, NV-HIV-1) in a fully synthetic chemistry based, scalable technology stack.
NanoViricides, Inc. (the “Company”) ( www.nanoviricides.com ) is a clinical stage company that is creating special purpose nanomaterials for antiviral therapy. The Company’s novel nanoviricide™ class of drug candidates and the nanoviricide™ technology are based on intellectual property, technology and proprietary know-how of TheraCour Pharma, Inc. The Company has a Memorandum of Understanding with TheraCour for the development of drugs based on these technologies for all antiviral infections. The MoU does not include cancer and similar diseases that may have viral origin but require different kinds of treatments.
The Company has obtained broad, exclusive, sub-licensable, field licenses to drugs developed in several licensed fields from TheraCour Pharma, Inc. The Company’s business model is based on licensing technology from TheraCour Pharma Inc. for specific application verticals of specific viruses, as established at its foundation in 2005.
Our lead drug candidate is NV-387, a broad-spectrum antiviral drug that we plan to develop as a treatment of RSV, COVID, Long COVID, Influenza, and other respiratory viral infections, as well as MPOX/Smallpox infections. Our other advanced drug candidate is NV-HHV-1 for the treatment of Shingles. The Company cannot project an exact date for filing an IND for any of its drugs because of dependence on a number of external collaborators and consultants. The Company is currently focused on advancing NV-387 into Phase II human clinical trials.
NV-CoV-2 (API NV-387) is our nanoviricide drug candidate for COVID-19 that does not encapsulate remdesivir. NV-CoV-2-R is our other drug candidate for COVID-19 that is made up of NV-387 with remdesivir encapsulated within its polymeric micelles. The Company believes that since remdesivir is already US FDA approved, our drug candidate encapsulating remdesivir is likely to be an approvable drug, if safety is comparable. Remdesivir is developed by Gilead. The Company has developed both of its own drug candidates NV-CoV-2 and NV-CoV-2-R independently.
The Company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. NanoViricides’ platform technology and programs are based on the TheraCour® nanomedicine technology of TheraCour, which TheraCour licenses from AllExcel. NanoViricides holds a worldwide exclusive perpetual license to this technology for several drugs with specific targeting mechanisms in perpetuity for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Rabies, Herpes Simplex Virus (HSV-1 and HSV-2), Varicella-Zoster Virus (VZV), Influenza and Asian Bird Flu Virus, Dengue viruses, Japanese Encephalitis virus, West Nile Virus, Ebola/Marburg viruses, and certain Coronaviruses. The Company intends to obtain a license for RSV, Poxviruses, and/or Enteroviruses if the initial research is successful. As is customary, the Company must state the risk factor that the path to typical drug development of any pharmaceutical product is extremely lengthy and requires substantial capital. As with any drug development efforts by any company, there can be no assurance at this time that any of the Company’s pharmaceutical candidates would show sufficient effectiveness and safety for human clinical development. Further, there can be no assurance at this time that successful results against coronavirus in our lab will lead to successful clinical trials or a successful pharmaceutical product.
This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by NanoViricides, Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company’s expectations include, but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Although it is not possible to predict or identify all such factors, they may include the following: demonstration and proof of principle in preclinical trials that a nanoviricide is safe and effective; successful development of our product candidates; our ability to seek and obtain regulatory approvals, including with respect to the indications we are seeking; the successful commercialization of our product candidates; and market acceptance of our products.
The phrases “safety”, “effectiveness” and equivalent phrases as used in this press release refer to research findings including clinical trials as the customary research usage and do not indicate evaluation of safety or effectiveness by the US FDA.
FDA refers to US Food and Drug Administration. IND application refers to “Investigational New Drug” application. cGMP refers to current Good Manufacturing Practices. CMC refers to “Chemistry, Manufacture, and Controls”. CHMP refers to the Committee for Medicinal Products for Human Use, which is the European Medicines Agency’s (EMA) committee responsible for human medicines. API stands for “Active Pharmaceutical Ingredient”. WHO is the World Health Organization. R&D refers to Research and Development.
1 Tamiflu (Oseltamivir) – Roche. Xofluza (Baloxavir) – Shionogi, Roche. H5N1 bird flu viruses resistant to Oseltamivir have already occurred. Resistance to Xofluza occurred at a high frequency in its clinical trial.
3 Yegorov S et al., Effectiveness of influenza vaccination to prevent severe disease: a systematic review and meta- analysis of test-negative design studies, Clinical Microbiology and Infection, https://doi.org/10.1016/j.cmi.2025.09.023
4 Influenza viruses generate variants by more mechanisms than most viruses: (a) by mutations, typically few and small changes in viral proteins; (b) by recombinations, wherein portions of its genomic strands are swapped between the strands derived from two different Influenza A viruses infecting the same cell; (c) by re-assortments, wherein entire genomic segment from one Influenza A virus is packaged into a different Influenza A virus in the same cell. Each complete Influenza A virus contains eight separate genomic RNA strands, giving it tremendous flexibility for “swapping” these segments and generating new variants. It is thought that all influenza A viruses causing outbreaks or pandemics among humans since the 1900s originated from strains circulating in wild aquatic birds through reassortment with other influenza strains (wikipedia, https://en.wikipedia.org/wiki/Influenza_A_virus ).
5 All Influenza viruses bind to HSPG (heparan sulfate proteoglycan) as the first “attachment receptor”, and thus are targeted by the drug NV-387. The viruses then gain proximity to cells, and latch onto the Sialylated glycoproteins on the cell surface which is called the “cognate receptor” that enables the virus to be taken inside the cell. The cognate receptor for Influenza viruses that remain infectious to birds is slightly different from the one that the virus would need to use for efficiently infecting human cells. However, just one or a few mutations would be required in the currently circulating H5N1 bird flu viruses to become efficient in human-to-human transmission. Two different clades of H5N1 are circulating, one in wild birds, infecting into poultry, and another in dairy cattle, infecting pets and animals that drink raw milk, bringing the threat closer to a potential pandemic than it has ever been since the late 1990s.
6 Tecovirimat (TPOXX) was approved under the US FDA Animal Rule, and is stockpiled by the US Government Strategic National Stockpile (SNS). However, Tecovirimat-resistant viruses develop with a single point mutation in the viral VP37 protein. It is illogical to believe that any terrorist attack would be from a non-resistant smallpox strain. Brincidofovir (Tembexa) was approved under the US FDA Animal Rule, and is stockpiled in SNS. Brincidofovir carries a black box warning due to increased mortality rates in another indication, causes elevation of liver damage-related markers, is a carcinogen, may cause embryonic or fetal harm, and may irreversibly impair fertility, according to its prescribing information, limiting its applicability as a drug to be used across all population in the case of a smallpox bio-terrorism event ( https://www.accessdata.fda.gov/drugsatfda_docs/label/2021/214460s000,214461s000lbl.pdf .).
NEW YORK, NY / ACCESS Newswire / November 14, 2025 / For decades, global supply chains have operated like disconnected islands. Each country, each industry, each regulatory body ran its own version of oversight. Data lived in silos. Transparency came from paperwork. And risk was absorbed as a cost of doing business.
A new architecture is emerging, and SMX (NASDAQ:SMX) is wiring the world into what can only be described as a verification supergrid. Its molecular marking system, already deployed across plastics, textiles, metals, and trade goods, is bridging continents and industries with one unifying feature: proof at the material level. The world is starting to notice.
When Rolling Stone highlighted that the era of slogans is collapsing under its own weight, the message was not about culture. It was about supply chains. Proof, not positioning, is becoming the benchmark. Weeks later, USA Today outlined how traceability technologies are reshaping border inspections and tariff policy by turning raw materials into self-identifying assets. Morning Honey added a lifestyle lens to the same trend, noting how brands can finally confirm what they have been claiming for years.
And in an extensive conversation with OPIS, SMX revealed how this system is already operating across Asia-Pacific, tagging recycled plastics at the molecular level and preparing for a future where every kilo of resin has a secure, auditable identity.
The media is not echoing hype. They are documenting a shift.
A System Designed to Replace Guesswork With Autonomous Truth
Carbon markets taught the world a hard lesson. Good intentions are not the same as measurable outcomes. Credits depended on extrapolation, modeling, and unverifiable reporting. As loopholes expanded, confidence shrank.
SMX is not fixing carbon markets. It is solving the underlying problem: the absence of objective material-level truth.
In the OPIS recap of Singapore’s strategy, SMX’s pilot with A*STAR clearly lays out the stakes. Nation-scale recycling programs can only scale when proof is native to the material. Singapore is pursuing measurable increases in recycling rates and sharp reductions in incineration because it is building its system on certified material identity rather than on administrative trust.
That is the quiet brilliance of SMX’s model. Instead of certifying the process, it certifies the material. Instead of hoping compliance occurs, it verifies that it did. And, instead of rewarding claims, it rewards confirmation.
This is how supply chains evolve from narratives to networks.
Where Verification Becomes Leverage
What makes the supergrid concept powerful is how it intersects with economics. In a global marketplace, identity creates advantage. Verified plastics clear customs faster. Verified textiles qualify for sustainability-linked financing. Verified metals bypass origin disputes that often trigger tariffs.
Morning Honey underscored how SMX’s markers enable customs authorities to scan goods in seconds, reducing mislabeling, fraud, and accelerating clearance for companies that operate cleanly. It is transparency as propulsion, not punishment.
And SMX’s reach is widening.
In the United States, its collaboration with Tradepro will turn verified rPET into a premium-grade commodity. In Spain, CARTIF is testing SMX technology in real industrial environments to help Europe meet its circular-economy benchmarks. In France, CETI is embedding molecular identity into textiles, enabling fashion and luxury houses to authenticate fibers and blends immediately.
In Singapore, Goldstrom is adopting SMX’s technology for precious metals, giving gold and silver a permanent origin signature that persists from mine to mint to retail. And in Austria, REDWAVE is integrating SMX into automated sorting systems so factories can verify materials as they move along the belt.
Each node strengthens the larger network. Each adoption raises the global standard. And, each integration expands the surface area of truth.
Proof as the New Global Language
At a certain point, momentum becomes infrastructure. The acceleration of coverage from sources as varied as Rolling Stone, USA Today, consumer outlets, and commodity analysts is no coincidence. It is convergence. Different sectors are discovering the same solution from different angles.
SMX’s platform gives plastics, textiles, metals, and electronics a persistent identity that does not wash off, wear out, or disappear under pressure. Paired with the Plastic Cycle Token, recycled content can be defined, valued, and traded across borders with the precision of a financial instrument.
Audits without accuracy and pledges without proof have tested the world’s patience. SMX answers with something solid: a foundation supply chains can trust. The difference between intent and impact has always been the weak point. SMX is strengthening it.
About SMX
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements
This information contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward looking statements reflect current expectations, projections, and assumptions regarding future events that involve risks and uncertainties. These statements relate to SMX (NASDAQ: SMX), its molecular marker systems, its partnerships, its expansion into new sectors and geographies, and its technology’s potential role in transforming global supply chains, recycling markets, and material authentication frameworks.
Forward looking statements in this editorial include, but are not limited to, expectations concerning the adoption, scalability, and commercial deployment of SMX technologies across plastics, textiles, metals, electronics, and other materials; the potential impact of SMX’s systems on regulatory compliance, tariff enforcement, sustainability reporting, and cross-border trade; anticipated performance of SMX initiatives in the United States, Europe, and the Asia-Pacific region; expectations regarding the effectiveness and continued development of SMX-integrated identity layers, automated sorting systems, textile authentication, and precious-metals traceability; and the potential economic or market benefits associated with digital verification instruments such as the Plastic Cycle Token.
These statements also reflect assumptions about regulatory developments, market demand for authenticated recycled content, corporate adoption of traceability technologies, global sustainability mandates, geopolitical influences on trade, technological performance under commercial conditions, and the ability of SMX to integrate its systems into diverse industrial workflows. Forward looking statements are subject to significant risks and uncertainties that could cause actual outcomes to differ materially. These risks include, but are not limited to, changes in environmental or trade regulations; shifts in consumer or corporate behavior; competitive pressures from alternative traceability systems; scientific or technical challenges in molecular-level deployment; operational disruptions within SMX or its partners; macroeconomic volatility; supply chain changes; and conditions described in SMX’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.
Readers are cautioned not to place undue reliance on forward looking statements. These statements speak only as of the date of publication. SMX undertakes no obligation to update or revise forward looking statements to reflect future events, changes in circumstances, or newly available information, except as required by applicable law.
A nostalgic, neon-lit series of holiday parties featuring chef-driven collabs with Cracker Barrel, Sonic Drive-In, Red Robin, Pepsi, Dutch Bros, Kraft Heinz, Kahlua, and more.
LOS ANGELES, CA / ACCESS Newswire / November 13, 2025 / This December, Chain invites Los Angeles inside Holiday House, an immersive celebration of pop-cuisine, nostalgia, and holiday cheer. Transforming its Virgil Village headquarters into a festive fever dream, Chain and Medium Rare have created a holiday experience where every room reveals a new dish, drink, and delight, inspired by America’s most iconic brands. Running from December 3rd thru 7th, with additional weekends to be announced, guests are invited on a two-hour tasting tour of chef-driven holiday dishes and custom mixology.
“It’s cozy, it’s kitschy, it’s chaotic in the best possible way.” said Nicholas Kraft, Chain’s Chief Creative Officer, “Chain has always been about celebrating shared nostalgia and a little healthy indulgence, which is what the holidays are all about.”
Building off of the success of ChainFEST, the pop-cuisine festival that attracted a who’s who of talent from Kim Kardashian to Addison Rae, Chain and Medium Rare have brought the wild brand collabs and all-inclusive ticketing to this new format. Every Holiday House ticket grants guests access to an intimate two-hour tasting tour through America’s most iconic brands and includes:
A chef-driven collaborative meal with Cracker Barrel, Sonic Drive-In & TABASCO® Salsa Picante, or Red Robin, paired with a collection of seasonally spiced Arby’s curly fries
A Heinz Flavor Workshop potato pancake bar featuring never-before-released Heinz sauces
A Holidays Deserve Pepsi experience with holiday cocktails, mocktails, and complimentary cans of iconic Pepsi® flavors
A Friendly’s x Chain “Sundae Claus” – a nostalgic twist on the Conehead Sundae
A Kahlúa x Dunkin’®Frozen Espresso Martini paired with a Kahlua-infused MUNCHKINS® Donut Hole Treat garnish (21+ only)
A delicious, soon-to-be-announced Panda Express sweet treat collab
A flight pairing of mini holiday pies and Skrewball Peanut Butter Whiskey shots at the Black Sheep Speakeasy (21+ only)
Dutch Bros Holiday House exclusive beverages
Two craft cocktails (21+ only) or mocktails developed by Chain and Thunderbolt, featuring Absolut, JamesonBlack Barrel, Malibu, and Altos
Tickets to this all-inclusive tasting tour are $75 with each two-hour session designed to feel intimate and electric with games, music, and entertainment throughout. Happy Hour sessions are scheduled from 5-7pm and Night Sessions are scheduled from 8-10pm. It’s the ultimate holiday party for pop-cuisine lovers.
“Flavor. Nostalgia. Community – Holiday House brings it all. Chains are more than just a place to eat – they’re a part of culture. We’re here to up our flavor game and introduce this community to our unreleased Heinz sauces.” – Melanie Hellenga CMO AFH Kraft Heinz
Beyond the tasting tour, the Holiday House Gift Shop will feature exclusive collaborative merch with Dave & Buster’s, Arby’s, Panda Express, Pizza Hut and more, alongside a curated selection of vintage memorabilia and artifacts from chain-restaurant history: a collector’s dream for pop-culture dining fans.
“The holiday season evokes so many of our most emotional memories. And for many of us, that nostalgia is tied to the chains of our childhoods.” said B.J. Novak, Founder of Chain, “This is our way of celebrating that, with a modern, in-the-moment spin on those great feelings.”
Chain sits at the intersection of Pop-Culture and Pop-Cuisine, collaborating with beloved brands to create immersive events, new pop-cuisine dishes, and bold collectibles that transform nostalgia into unforgettable experiences.
Every Chain project is designed to spark connection through nostalgia, storytelling, and culinary creativity, celebrating the cultural touchstones that bring people together and redefining how the world experiences pop cuisine.
ABOUT MEDIUM RARE
Medium Rare is an award-winning live event production company behind culture-defining experiences such as Shaq’s Fun House, Guy Fieri’s Flavortown Tailgate, and Dave Portnoy’s One Bite Pizza Festival. The team specializes in creating large-scale, immersive moments that fuse entertainment, food, and culture.
PRESS
A limited number of press tickets will be issued. Please contact press@eatatchain.com
NEW YORK, NY / ACCESS Newswire / November 14, 2025 / For decades, plastics have moved through the world without an identity. They were manufactured, used, discarded, shredded, melted, and remade, but the material never carried a history. Once waste entered the recycling stream, its past vanished. And without origin, plastics could not carry value.
SMX (NASDAQ:SMX) is changing that paradigm by bringing identity to the material itself. In a new U.S. partnership with a respected Miami-based plastics distributor, Tradepro, the company is embedding its FDA-compliant molecular markers directly into recycled PET resin. The marker adheres to 21 CFR standards for Food Contact Substances, making it viable for one of the most highly regulated categories in the entire materials landscape.
In simple terms, SMX is giving rPET something it has never had before: a persistent, verifiable identity that survives every melt and remanufacturing cycle. Food-grade packaging made from recycled content can now prove that it is legitimate, compliant, and authentic, not because a supplier claims so, but because the material itself carries the proof.
This shifts recycled plastic from a commodity defined by risk to a material defined by credibility.
The U.S. Becomes a Launchpad for Identity-Driven Recycling The partnership marks SMX’s first major foothold in the American plastics ecosystem, but it is part of a larger global plan. Across Southeast Asia, SMX has already embedded markers during extrusion, ensuring traceability at the moment plastic takes shape. In Europe, the company demonstrated that even the most challenging polymers, including flame-retardant and carbon-black plastics, can be identified through molecular reading.
Together, these programs map out a universal identity layer for recycled plastics. Geography no longer dictates credibility. Application no longer dictates limitations. If a material carries an SMX identity, its origin and lifecycle can be confirmed anywhere, at any time, by anyone with the appropriate reader.
This is the first step toward a world where recycled plastics are treated as certified commodities rather than discounted substitutes.
Identity Converts Waste Into a Financial Product For recycled plastics, the missing piece has never been supply. It has been trust. Governments are imposing quotas. Global brands are pledging recycled content. But without a mechanism to verify the material itself, these targets have been impossible to meet at scale.
SMX closes that trust gap. Once a molecular marker is added, every batch of recycled resin becomes a traceable asset. Its movements can be logged. Its integrity can be affirmed. Its recycled content can be priced accurately.
And when tied to digital instruments such as SMX’s Plastic Cycle Token, rPET transforms from a downstream cost into an upstream financial product. Recycled content becomes measurable. Measurable content becomes tradeable. And, tradeable content becomes investable.
This redefines the economics of recycling. Proof no longer lives in paperwork. Proof becomes intrinsic to the material itself, creating a pathway for rPET to compete directly with virgin resin in the highest-value markets.
Food-Grade rPET Becomes the Turning Point The ability to operate in compliance with FDA regulations is a watershed moment for the entire industry. Food-grade packaging has historically been the most difficult category for recycled content to enter. It requires consistent quality, stable chemistry, and absolute confidence that the material is safe.
By passing FDA-related compliance thresholds through molecular marking, SMX shows that recycled plastics do not need to live in low-margin, low-performance tiers. They can move into premium applications where oversight is strict, margins are higher, and credibility is everything.
In this context, rPET is no longer a second-class material. It becomes a certified input with a documented history and a verifiable identity.
The opportunity is enormous. The global plastics market sits above $800 billion. The recycling segment alone is valued at around $50 billion, yet it is underdeveloped due to verification bottlenecks. SMX’s technology helps clear that bottleneck by turning recyclate into a fully traceable asset that can be monetized, certified, and standardized.
So, no, this isn’t a recycling story. It is an identity story. And it signals the beginning of a materials economy where every product can carry its own truth.
About SMX As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements This information contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements are based on current expectations, estimates, forecasts, and assumptions regarding future events involving SMX (NASDAQ:SMX), its technologies, its partnership activities, and its development of molecular marking systems for recycled PET and other materials. Forward looking statements are not historical facts. They involve risks, uncertainties, and factors that may cause actual results to differ materially from those expressed or implied.
Forward looking statements in this editorial include, but are not limited to, expectations regarding the integration of SMX’s molecular markers into U.S. recycling markets; the potential for FDA-compliant markers to enable recycled PET to enter food-grade and other regulated applications; the scalability of SMX solutions across diverse global supply chains; anticipated adoption of identity-based verification systems by manufacturers, recyclers, regulators, or brand owners; the potential economic impact of turning recycled plastics into tradeable or monetizable assets; the expected performance of SMX’s Plastic Cycle Token or other digital verification instruments; and the belief that molecular-level authentication may influence pricing, compliance, sustainability reporting, or financial strategies used within the plastics sector.
These forward looking statements are also subject to assumptions regarding regulatory developments; market demand for authenticated recycled content; the pace of corporate adoption of traceability technology; global economic conditions; supply chain constraints; evolving environmental policies; and general industry behavior relating to sustainability commitments and recycling mandates. Risks include, but are not limited to, changes in FDA or international regulatory standards; technological challenges in large-scale deployment of molecular markers; competitive innovations from other companies; operational disruptions in recycling or plastics manufacturing; fluctuations in pricing for virgin or recycled plastics; and the broader economic conditions that influence capital investment and industrial activity.
Detailed risk factors are described in SMX’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on forward looking statements. These statements speak only as of the date of publication. SMX undertakes no obligation to update or revise forward looking statements to reflect subsequent events, changes in circumstances, or new information, except as required by applicable law.