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HESPERIA, CA / ACCESS Newswire / May 16, 2025 / 5E Advanced Materials, Inc. (NASDAQ:FEAM)(ASX:5EA) (“5E” or the “Company”), a boron and lithium company with U.S. government Critical Infrastructure designation for its 5E Boron Americas Complex, announced today that Chief Executive Officer Paul Weibel will present and host one-on-one meetings with investors at the Sidoti Micro-Cap Virtual Conference on May 21-22, 2025.

The presentation will begin at 1:00 p.m. ET on Thursday, May 22^nd. Investors interested in accessing the webcast presentation may register to view the live event here. All registrants will receive a link to the event upon registration. A link to the webcast and associated presentation materials can also be accessed through the investor section of the Company’s website at: https://investors.5eadvancedmaterials.com/events-presentations. To schedule a one-on-one meeting with management, register here.

About 5E Advanced Materials, Inc.

5E Advanced Materials, Inc. (NASDAQ:FEAM)(ASX:5EA) is focused on becoming a vertically integrated global leader and supplier of boron specialty and advanced materials, complemented by lithium co-product production. The Company’s mission is to become a supplier of these critical materials to industries addressing global decarbonization, food and domestic security. Boron and lithium products will target applications in the fields of electric transportation, clean energy infrastructure, such as solar and wind power, fertilizers, and domestic security. The business strategy and objectives are to develop capabilities ranging from upstream extraction and product sales of boric acid, lithium carbonate and potentially other co-products, to downstream boron advanced material processing and development. The business is based on our large domestic boron and lithium resource, which is located in Southern California and designated as Critical Infrastructure by the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical fact included in this press release regarding the Company’s business strategy, plans, goals, and objectives, including regarding the anticipated changes to the Company’s board of directors and management and anticipated benefits, are forward-looking statements. When used in this press release, the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “budget,” “target,” “aim,” “strategy,” “plan,” “guidance,” “outlook,” “intent,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Company’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the extraction of the critical materials we intend to produce and advanced materials production and development. These risks include, but are not limited to: our limited operating history in the borates and lithium industries and no revenue from our proposed extraction operations at our properties; our need for substantial additional financing to execute our business plan and our ability to access capital and the financial markets; our status as an exploration stage company dependent on a single project with no known Regulation S-K 1300 mineral reserves and the inherent uncertainty in estimates of mineral resources; our lack of history in mineral production and the significant risks associated with achieving our business strategies, including our downstream processing ambitions; our incurrence of significant net operating losses to date and plans to incur continued losses for the foreseeable future; risks and uncertainties relating to the development of the Fort Cady project, including our ability to timely and successfully complete our proposed Commercial Scale Boron Facility; our ability to obtain, maintain and renew required governmental permits for our development activities, including satisfying all mandated conditions to any such permits; the implementation of and expected benefits from certain reduced spending measures, and other risks and uncertainties set forth in our filings with the U.S. Securities and Exchange Commission from time to time. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. These risks are not exhaustive and the information in this press release may be subject to additional risks. No representation or warranty (express or implied) is made as to, and no reliance should be place on, any information, including projections, estimates, targets, and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions, or misstatements contained herein. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as to the date of this press release.

For additional information regarding these various factors, you should carefully review the risk factors and other disclosures in the Company’s Form 10-K filed on September 9, 2024 and subsequent filings with the U.S. Securities and Exchange Commission throughout the year, as well as in its filings under the Australian Securities Exchange. Any forward-looking statements are given only as of the date hereof. Except as required by law, 5E expressly disclaims any obligation to update or revise any such forward-looking statements. Additionally, 5E undertakes no obligation to comment on third party analyses or statements regarding 5E’s actual or expected financial or operating results or its securities.

For further information contact:

Joseph Caminiti or Nathan Skown
Alpha IR Group
FEAM@alpha-ir.com
Ph: +1(312) 445-2870

SOURCE: 5E Advanced Materials, Inc.

View the original press release on ACCESS Newswire

ORLANDO, FLORIDA / ACCESS Newswire / May 16, 2025 / RedChip Companies will air interviews with BioVie Inc. (NASDAQ:BIVI) and Liberty Star Minerals (OTCQB:LBSR) on the RedChip Small Stocks, Big Money™ show, a sponsored program on Bloomberg TV this Saturday, May 17, at 7 p.m. Eastern Time (ET). Bloomberg TV is available in an estimated 73 million homes across the U.S.

Access the interviews in their entirety at:

• BIVI: https://www.redchip.com/assets/access/bivi_access

• LBSR: https://www.redchip.com/assets/access/lbsr_access

In an exclusive interview, Cuong Do, President and CEO of BioVie, appears on the RedChip Small Stocks Big Money™ show on Bloomberg TV to share how BioVie is unlocking the science of longevity through novel therapeutics targeting neurodegenerative diseases and advanced liver conditions. Do highlights the Company’s lead drug candidate, bezisterim, a first-in-class small molecule designed to combat chronic inflammation and insulin resistance-key drivers in Alzheimer’s and Parkinson’s disease, as well as Long COVID. He also discusses BIV201, BioVie’s Orphan-designated liver therapy being developed to treat – and may become the first approved treatment – for ascites, an end-stage liver disease condition of 50%+ mortality rate in 12 months. With multiple clinical programs advancing across Phase 2 and Phase 3 trials and a clear path toward commercialization, BioVie is positioned at the forefront of transformative healthcare innovation.

Pete O’Heeron, Chairman of Liberty Star, and Liberty Star board member Gerardo King, appear on the RedChip Small Stocks Big Money™ show on Bloomberg TV to highlight the Company’s dual-track strategy targeting high-grade gold and large-scale copper-gold mineralization in Arizona. They discuss recent bonanza-grade assay results from the Red Rock Canyon Gold Project, where surface samples have returned values as high as 107.5 g/t gold, and the validation of a porphyry copper system at the Hay Mountain Project through Liberty Star’s 2024 drill campaign. With gold prices near all-time highs and copper demand surging amid global electrification, Liberty Star is actively pursuing a joint venture to accelerate project development while minimizing shareholder dilution. The company’s experienced leadership and strategic positioning in one of North America’s most prolific mining regions underscore its potential to unlock significant value through near- and long-term exploration success.

BIVI and LBSR are clients of RedChip Companies. Please read our full disclosure at https://www.redchip.com/legal/disclosures.

About BioVie Inc.

BioVie Inc. (NASDAQ:BIVI) is a clinical-stage company developing innovative drug therapies for the treatment of neurological and neurodegenerative disorders (Long COVID, Alzheimer’s disease and Parkinson’s disease) and advanced liver disease. In neurodegenerative disease, the Company’s drug candidate bezisterim inhibits inflammatory activation of extracellular signal-regulated kinase and the transcription factor nuclear factor-kB, and the associated neuroinflammation and insulin resistance but not ERK and NFkB homeostatic functions (e.g., insulin signaling and neuron growth and survival). Both neuroinflammation and insulin resistance are drivers of AD and PD. Persistent systematic inflammation and neuroinflammation are key features in patients with neurological symptoms of Long COVID. In liver disease, the Company’s Orphan drug candidate BIV201 (continuous infusion terlipressin), with FDA Fast Track status, is being evaluated and discussed with guidance received from the FDA regarding the design of Phase 3 clinical testing of BIV201 for the reduction of further decompensation in participants with liver cirrhosis and ascites. The active agent is approved in the U.S. and in about 40 countries for related complications of advanced liver cirrhosis. For more information, visit www.bioviepharma.com.

About Liberty Star

Liberty Star Uranium & Metals Corp. (LBSR:OTCQB), d/b/a Liberty Star Minerals, is an Arizona-based mineral exploration company engaged in the acquisition, exploration, and development of mineral properties in Arizona and the southwest USA. Currently the company controls properties that are located over what management considers some of North America’s richest mineralized regions for copper, gold, silver, molybdenum (moly), and associated metals. The Company’s premiere property is the Hay Mountain property (exploration stage) for porphyry copper, gold, moly and other commercially important minerals. Specific targets have been selected to explore for near-surface and deep-seated ore bodies, of which there are numerous analogs nearby. Contiguous with the primary Hay Mountain porphyry exploration target, and part of the overall Hay Mountain property, is an increasingly attractive area of exploration stage gold mineralization denominated Red Rock Canyon. Red Rock Canyon exhibits what we believe are extensive, promising hydrothermal associated gold-bearing structures that are documented in historical public and Company records. View numerous geoscientific reports on our website. The Hay Mountain & Red Rock Canyon properties are in Cochise County (southeast) Arizona, USA.

Follow Liberty Star Minerals on Facebook, LinkedIn & [X]Twitter

About RedChip Companies

RedChip Companies, an Inc. 5000 company, is an international investor relations, media, and research firm focused on microcap and small-cap companies. For 33 years, RedChip has delivered concrete, measurable results for its clients. Our newsletter, Small Stocks, Big Money™, is delivered online weekly to 60,000 investors. RedChip has developed the most comprehensive service platform in the industry for microcap and small-cap companies. These services include the following: a worldwide distribution network for its stock research; retail and institutional roadshows in major U.S. cities; outbound marketing to stock brokers, RIAs, institutions, and family offices; a digital media investor relations platform that has generated millions of unique investor views; investor webinars and group calls; a television show, Small Stocks, Big Money™, which airs weekly on Bloomberg US; TV commercials in local and national markets; corporate and product videos; website design; and traditional investor relation services, which include press release writing, development of investor presentations, quarterly conference call script writing, strategic consulting, capital raising, and more.

To learn more about RedChip’s products and services, please visit:

https://www.redchip.com/corporate/investor_relations

“Discovering Tomorrow’s Blue Chips Today”™

Follow RedChip on LinkedIn: https://www.linkedin.com/company/redchip/

Follow RedChip on Facebook: https://www.facebook.com/RedChipCompanies

Follow RedChip on Instagram: https://www.instagram.com/redchipcompanies/

Follow RedChip on Twitter: https://twitter.com/RedChip

Follow RedChip on YouTube: https://www.youtube.com/@redchip

Follow RedChip on Rumble: https://rumble.com/c/c-3068340

Subscribe to our Mailing List: https://www.redchip.com/newsletter/latest

Contact:

Dave Gentry
RedChip Companies Inc.
1-407-644-4256
info@redchip.com

–END–

SOURCE: RedChip Companies, Inc.

View the original press release on ACCESS Newswire

NEWPORT BEACH, CA / ACCESS Newswire / May 16, 2025 / Amaze Holdings, Inc. (NYSE American:AMZE) (“Amaze” or the “Company”), a global leader in creator-powered commerce, today announced that it has filed a Form 12b-25, Notification of Late Filing, with the U.S. Securities and Exchange Commission (“SEC”) related to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 (the “Form 10-Q”). Form 12b-25 will allow the Company an automatic extension of five additional calendar days from the prescribed due date to file the Form 10-Q. The extension is necessary to allow for the completion of the audit of the financial statements of Amaze Software, Inc., which the Company acquired on March 7, 2025, and to provide additional time to review the consolidated financial statements for the quarter ended March 31, 2025. The Company intends to file the Form 10-Q as soon as practicable on or before the fifth calendar day following the prescribed due date.

About Amaze Holdings, Inc.
Amaze Holdings, Inc. is an end-to-end, creator-powered commerce platform offering tools for seamless product creation, advanced e-commerce solutions, and scalable managed services. By empowering anyone to “sell anything, anywhere,” Amaze enables creators to tell their stories, cultivate deeper audience connections, and generate sustainable income through shoppable, authentic experiences. Discover more at www.amaze.co.

For Amaze investor information, please contact IR@amaze.co

For Amaze press inquiries, please contact PR@amaze.co

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements relate to future events and developments or to our future operating or financial performance, are subject to risks and uncertainties and are based estimates and assumptions. Forward-looking statements include, but are not limited to, statements about the anticipated timing for the filing of our Form 10-Q. These statements can be identified by words such as such as “may,” “might,” “should,” “would,” “could,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential” or “continue,” and are based our current expectations and views concerning future events and developments and their potential effects on us.

These statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to differ materially from those projected or otherwise implied by the forward-looking statement. These risks include: our ability to execute our plans and strategies; our limited operating history and history of losses; our financial position and need for additional capital; our ability to attract and retain our creator base and expand the range of products available for sale; we may experience difficulties in managing our growth and expenses; we may not keep pace with technological advances; there may be undetected errors or defects in our software or issues related to data computing, processing or storage; our reliance on third parties to provide key services for our business, including cloud hosting, marketing platforms, payment providers and network providers; failure to maintain or enhance our brand; our ability to protect our intellectual property; significant interruptions, delays or outages in services from our platform; significant data breach or disruption of the information technology systems or networks and cyberattacks; risks associated with international operations; general economic and competitive factors affecting our business generally; changes in laws and regulations, including those related to privacy, online liability, consumer protection, and financial services; our dependence on senior management and other key personnel; and our ability to attract, retain and motivate qualified personnel and senior management.

Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other future filings and reports that we file with the Securities and Exchange Commission (SEC) from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Also, these forward-looking statements represent our estimates and assumptions only as of the date of the press release. Unless required by law, we undertake no obligation to update or revise any forward-looking statements to reflect new information or future events or developments.

SOURCE: Amaze Holdings, Inc.

View the original press release on ACCESS Newswire

Clear Start Tax Helps Taxpayers Protect Their Homes and Assets From IRS Collections

IRVINE, CA / ACCESS Newswire / May 16, 2025 / For Americans struggling with back taxes, one of the most terrifying questions they face is: Can the IRS take my house? According to Clear Start Tax, a nationally recognized tax resolution firm, the answer is yes – but it’s far from inevitable. With the right steps, taxpayers can often stop tax liens, prevent levies, and protect their most valuable assets.

Understanding the Difference Between a Tax Lien and a Levy

Clear Start Tax explains that while many people use the terms interchangeably, a tax lien and atax levy are two very different stages of IRS enforcement. Knowing the difference is essential for understanding the risk – and the options to respond.

• Tax lien: A legal claim against a taxpayer’s property (including real estate, vehicles, or financial assets) when taxes go unpaid. It doesn’t seize the property but makes it difficult to sell, refinance, or borrow against it.

• Tax levy: A direct seizure of property or funds, such as garnishing wages, draining bank accounts, or, in rare cases, seizing and selling real estate.

“Taxpayers are often shocked to learn how much power the IRS has once a lien or levy is in place,” said the Head of Client Solutions at Clear Start Tax. “But with the right action plan, it’s possible to stop these actions before they start – or even reverse them once underway.”

Common Triggers That Put Homeowners at Risk With the IRS

Before the IRS places a lien or levy, there’s usually a pattern of missed payments, communication gaps, or ignored warnings. Clear Start Tax outlines some of the most common triggers that increase a homeowner’s risk:

• Years of unfiled returns or unpaid tax balances

• Ignoring multiple IRS notices and deadlines

• Defaulting on existing IRS payment plans

• Failing to communicate financial hardship to the IRS

The risk escalates when taxpayers overlook these early warning signs, allowing routine collection efforts to advance into serious enforcement actions.

How to Stop a Tax Lien or Levy

The good news: IRS collection action can often be stopped or reversed – but only when taxpayers act quickly. Clear Start Tax highlights several legal tools that can help protect assets and halt enforcement when used properly:

• Entering an Installment Agreement to pay off the balance over time

• Requesting Currently Not Collectible (CNC) status for those in financial hardship

• Filing an Offer in Compromise (OIC) to settle tax debt for less

• Requesting a lien withdrawal or levy release based on hardship or compliance

By acting early, taxpayers can preserve more options and significantly reduce the financial and emotional toll of IRS enforcement.

The Clear Start Tax Approach: Protecting What Matters Most

Clear Start Tax doesn’t just focus on numbers – it focuses on people. The firm takes a comprehensive, client-centered approach to every case, offering practical solutions that safeguard homes, income, and long-term stability.

• Complete financial review to identify risks and options

• Custom resolution strategy to address the lien or levy threat

• Direct IRS negotiation to secure payment plans, releases, or settlements

• Ongoing compliance support to prevent future enforcement

By combining deep expertise with personal advocacy, Clear Start Tax helps clients resolve today’s challenges and avoid tomorrow’s risks.

“Our mission is to help taxpayers protect what they’ve worked so hard for,” added the Head of Client Solutions. “We don’t just focus on the numbers – we help people safeguard their homes, their income, and their peace of mind.”

About Clear Start Tax

Clear Start Tax is a full-service tax liability resolution firm that serves taxpayers throughout the United States. The company specializes in assisting individuals and businesses with a wide range of IRS and state tax issues, including back taxes, wage garnishment relief, IRS appeals, and offers in compromise. Clear Start Tax helps taxpayers apply for the IRS Fresh Start Program, providing expert guidance in tax resolution. Fully accredited and A+ rated by the Better Business Bureau, the firm’s unique approach and commitment to long-term client success distinguish it as a leader in the tax resolution industry.

Need Help With Back Taxes?

Click the link below:
https://clearstarttax.com/qualifytoday/

Contact Information

Clear Start Tax
Corporate Communications Department
seo@clearstarttax.com
(949) 535-1627

SOURCE: Clear Start Tax

View the original press release on ACCESS Newswire

TORONTO, ON / ACCESS Newswire / May 16, 2025 / Consumer Choice Award (CCA) is proud to announce that Pestend Pest Control has been named the 2025 Consumer Choice Award Winner in the Pest Control category for Toronto Central. This award highlights the company’s outstanding reputation, professional expertise, and unwavering commitment to safe, effective pest and wildlife removal services throughout the region.

Serving the Greater Toronto Area, London, and Ottawa, Pestend Pest Control is a fully licensed pest and wildlife control company offering residential, commercial, and industrial services. Specializing in the treatment and removal of mice, rats, cockroaches, bed bugs, ants, wasps, crawling insects, and nuisance wildlife, the company has earned its place among Ontario’s most trusted names in pest control.

“We’re incredibly proud to be recognized with the Consumer Choice Award,” said the team at Pestend. “This recognition reflects the effort we put into every job, the pride we take in our service, and the trust we’ve earned from customers who rely on us every day.”

With over 2,000 5-star Google reviews, Pestend Pest Control is one of the top-rated pest control companies in Ontario. From state-of-the-art extermination methods to eco-conscious solutions and long-term prevention strategies, the company remains focused on delivering quality with integrity.

Pestend Pest Control provides:

• Certified extermination and wildlife removal

• Mice, rat, cockroach, and bed bug treatment

• Ants, wasps, spiders, and insect control

• Humane wildlife control and exclusion services

• Preventive inspections and tailored service plans

The company attributes its continued success to a simple formula: putting customers and employees first. This people-centred approach has allowed Pestend to grow through word-of-mouth, strong online reviews, and a loyal customer base.

The Consumer Choice Award is based on independent research and community feedback, ensuring that only the most outstanding service providers earn this prestigious recognition. Pestend’s selection reflects its consistent delivery of trusted, high-quality services across one of Canada’s most competitive markets.

To learn more about Pestend Pest Control or to request a quote, CLICK HERE or visit www.pestend.ca.

About Consumer Choice Award:
Consumer Choice Award has been recognizing and promoting business excellence in North America since 1987. Its rigorous selection process ensures that only the most outstanding service providers in each category earn this prestigious recognition. Visit www.ccaward.com to learn more.

Contact Information:
Sumi Saleh
Communications Manager
ssaleh@ccaward.com

SOURCE: Consumer Choice Award

View the original press release on ACCESS Newswire

TORONTO, ON / ACCESS Newswire / May 16, 2025 / Consumer Choice Award (CCA) is pleased to announce Abrams Towing as the 2025 winner in the Towing Services category for Toronto Central. This honour reflects the company’s unmatched expertise, innovative fleet capabilities, and unwavering commitment to safety and service in the towing and roadside assistance industry.

Founded in 1984 by Joey Gagne, Abrams Towing has grown into Ontario’s most trusted towing operation. With over 40 years of experience and a fleet of more than 160 specialized trucks, the company provides reliable service for everything from light-duty to heavy-duty recoveries. Whether it’s a motorcycle or an 18-wheel semi, Abrams has the equipment and the personnel to handle it-efficiently, safely, and with professionalism.

“Our team is proud to receive this recognition from the Consumer Choice Award,” said the Abrams Towing leadership team. “We’re constantly evolving to meet the demands of today’s motorists and commercial clients, and this award reflects our dedication to setting the industry standard.”

Abrams operates across 11 metropolitan locations in Ontario-including Toronto, Mississauga, Brampton, Oakville, Hamilton, Windsor, Ottawa, Newmarket, Barrie, Cambridge, and Burlington. The company’s 200+ employees work around the clock, providing more than 200,000 vehicle tows annually. Each tow is backed by a commitment to customer service, fast response times, and adherence to the highest safety protocols.

Abrams Towing offers:

• 24/7 roadside assistance

• Light-, medium-, and heavy-duty towing

• Vehicle transport and recovery services

• Commercial towing and fleet services

• Specialized equipment for complex jobs

What sets Abrams apart is not only the scale of its operations but also its continuous pursuit of excellence. As the industry changes, Abrams leads by investing in advanced equipment, up-to-date training, and process improvements that benefit both consumers and commercial partners.

The Consumer Choice Award is based on a rigorous research methodology, including unbiased consumer opinions and marketplace evaluations. Abrams’ win further cements its place as a leader in Canada’s towing and recovery industry.

To learn more about Abrams Towing or to request assistance, CLICK HERE or visit www.abrams.ca.

About Consumer Choice Award:
Consumer Choice Award has been recognizing and promoting business excellence in North America since 1987. Its rigorous selection process ensures that only the most outstanding service providers in each category earn this prestigious recognition. Visit www.ccaward.com to learn more.

Contact Information:
Sumi Saleh
Communications Manager
ssaleh@ccaward.com

SOURCE: Consumer Choice Award

View the original press release on ACCESS Newswire

SHELTON, CT / ACCESS Newswire / May 16, 2025 / NanoViricides, Inc. (NYSE Amer.:NNVC) (the “Company”), reports that it has filed its Quarterly Report on Form 10-Q for the quarter ending March 31, 2025 with the Securities and Exchange Commission (SEC) on Thursday, May 15, 2025. The report can be accessed at the SEC website (https://www.sec.gov/Archives/edgar/data/1379006/000141057825001336/nnvc-20250331x10q.htm) .

NV-387 – Phase II Clinical Trial to Treat MPox Infection – Unmet Medical Need

We reported that we submitted requisite due diligence information to the National Ethics Committee of the Democratic Republic of Congo (DRC) including a draft report from the Phase I clinical trial for the safety and tolerability of oral formulations of NV-387, the summary information from our studies for treatment of lethal MPox infections in animal models, as well as summary information on the manufacturing.

The National Ethics Committee found that the provided information was sufficient to justify a Phase II clinical trial, and has cleared us to file a Phase II Clinical Trial Application for the Use of Oral NV-387 for the Treatment of MPox Disease Caused by the hMPXV virus, subsequent to the reporting period.

We also reported that we have commissioned manufacture of clinical trial quantities of NV-387 drug substance and the corresponding NV-387 oral gummies formulations drug products at our own cGMP compliant facility in Shelton, CT.

We are now preparing the Phase II Clinical Trial Application for NV-387 to combat MPOX for submission to the DRC regulatory agency.

There is no drug available for the treatment of MPox disease. The MPox Clade 1a/1b viruses have a substantially greater fatality rate than COVID, at 3-4%, and Clade 1b has been disproportionately affecting pediatric populations.

The MPox Disease which is caused by hMPXV Clade 1a/1b virus infection was initially declared a Public Health Emergency of International Concern (PHEIC) by the WHO in August 2024, a designation that has been continued to stay in effect in April 2025, due to the severity of the pandemic in WHO African Region.

Spillover cases of MPox Clade 1a/1b have occurred in several Eastern and Western countries already, raising the probability that the epidemic may spread more widely, although the current MPox virus is not as communicable as Coronaviruses or Measles virus.

MPox Clade 2 spilled over from Africa into the Western World in a small pandemic during 2022, and has become endemic with several cases occurring every year in many countries, driven primarily by sexual contact. MPox Clade 2 causes much less severe disease than the Clade 1a and 1b viruses.

MPox/Smallpox drug represents a billion dollar market globally, should an effective drug be developed, because of potential biosecurity implications.

NV-387 as Treatment for Measles Virus Infection – Unmet Medical Need

Upon finding significant rationale that NV-387 would be potentially highly effective against the Measles virus, we have initiated a program to evaluate NV-387 in a humanized animal model of Measles lethal infection.

The Measles outbreaks in the USA have continued to grow since January, 2025, and have crossed 1,000 confirmed cases as well as 3 deaths. Measles cases have been increasing year over year in the USA, especially after the COVID pandemic substantially resolved with the SARS-CoV-2 becoming an endemic virus. In Europe, over 35,000 cases of Measles have been reported in 2024 according to the European CDC.

A 95% vaccination coverage is required to eliminate Measles virus. This has become a practically impossible goal because of several factors, among them: (i) Vaccine Hesitancy as a rebound public response because of compulsion of COVID vaccine shots multiple times; (ii) Religious Vaccine Prohibitions in certain communities, including certain Jewish religious communities, Mennonites, and other conservative religious communities; (iii) Increasing immune function disability in the general population due to chronic diseases such as Diabetes, Obesity, Cardiac Issues, Autoimmune Diseases, Allergies, etc. wherein the person upon vaccination would not develop strong enough immunity and would become a carrier if infected; (iv) Vaccine Failure caused primarily by a variety of immune function disabilities.

The Measles vaccination rates across the world, and particularly in European countries and the USA have dipped well below 95% on average, and much lower in specific areas, and vaccine breakout cases i.e. Measles disease in vaccinated persons, have also increased substantially, as seen from the ECDC statistics ^[1] , ^[2] .

It is therefore essential to develop a drug to treat Measles in order to combat these outbreaks and achieve full control over the public health situation. There is no drug available for treatment of Measles.

We strongly expect that NV-387 would be effective against Measles. This is because NV-387 cured lethal RSV infection in an animal model. RSV and Measles both are paramyxoviruses, and both use HSPG as the Attachment Receptor, and then transfer to their respective Cognate Receptor that is needed for cell fusion. NV-387 was designed to present to the virus like a cell that displays HSPG-mimetic small chemical ligands on its surface, thereby providing the attachment-receptor-mimetic landing sites for the virus, capturing, engulfing, and destroying it. (HSPG = Heparan Sulfated Proteoglycans).

NV-387 as Treatment for Bird Flu, H5N1, H7N9 – Unmet Medical Need

We have previously found that NV-387 was substantially more effective than the existing stockpiled influenza virus treatments including Tamiflu (oseltamivir) and Xofluza (baloxavir) in lethal animal models of Influenza virus lung infection.

Given the extremely broad antiviral activity spectrum of NV-387, and knowing that the Highly Pathogenic Avian Influenza (HPAI) viruses such as H5N1 and H7N9 have polybasic sequences in their H-protein that bind to HSPG, we believe NV-387 would be effective against Bird Flu viruses.

Influenza viruses mutate rapidly, and also exchange their full genomic RNA segments with other co-infecting viruses (“Re-assortment”), or copy portions of a different genomic sequence into their own RNA (“Re-combination”). Thereby an Influenza virus can acquire new traits such as (i) rapid communicability from person-to-person, and (ii) readily escaping vaccines, antibodies, and the small chemical drugs such as oseltamivir and baloxavir.

NV-387, we believe, fulfills the unmet medical need for a pan-Influenza drug that the Influenza virus would not be able to escape, because the virus does not lose its ability bind to HSPG as Attachment Receptor and then to Sialic Acid Receptors leading to cell fusion and infection.

A severe version of H5N1 is widely circulating in the wild birds, and has caused sporadic losses of entire poultry farm houses. This, and a mild version of H5N1 have infected thousands of dairy herds in the USA. The H5N1 virus is only a few mutations away from becoming highly communicable from person to person, and if that comes to bear, we would be facing a pandemic possibly worse than COVID-19.

It is well established now that vaccines, antibodies, and small chemical drugs do not provide the ability to stall an outbreak let alone a pandemic caused by a highly variable virus such as a Coronavirus or an Influenza virus.

We believe NV-387 will be ready to fight any human outbreaks of H5N1 under emergency use protocols for investigational drugs.

Company Financials

We reported that, as of March 31, 2025, we had cash and cash equivalent current assets balance of approximately $2.73 Million. In addition, we reported approximately $6.98 Million in Net Property and Equipment (P&E) assets (after depreciation). The strong P&E assets comprise our cGMP-capable manufacturing and R&D facility in Shelton, CT. The total current liabilities were approximately $1.20 Million.

The net cash utilized during the nine months ended March 31, 2025 was approximately $6.78 million. This included certain non-recurring expenditures including R&D expenditures in preparation for a Phase II clinical trial application. We raised approximately $4.57 million net of commission and certain expenses in an At-the-Market offering (“ATM”) during the nine months ended March 31, 2025.

We have approximately $5.7 million (approximately $4.5 million net of current liabilities) available for cash operational expenses going forward including an available line of credit of $3 million provided by our founder and President Dr. Anil Diwan. As such, we reported that we do not have sufficient funding in hand to continue operations through February 14, 2026, for our planned objectives that include (i) a Phase II clinical trial of NV-387 for MPOX in Central Africa, (ii) a Phase II clinical trial of NV-387 for Viral Acute and Severe Acute Respiratory Infections (V-ARI and V-SARI), and (iii) Preparation and pre-IND filing for a Phase II clinical trial of NV-387 for RSV indication in the USA. We have access to the aforementioned ATM Equity Offering, and we believe we will have access to the equity markets to raise the funds necessary for our current objectives. We continue to re-prioritize our programs in line with available resources.

NV-387 – Phase I Clinical Trial Completed Successfully with No Reported Adverse Events

NV-387 has successfully completed a Phase Ia/Ib clinical trial in healthy subjects with all subjects discharged as of end of December, 2023. There were no adverse events reported. We are now awaiting a final report of this Phase I clinical trial.

NV-387 A Potentially Revolutionary Antiviral Drug that the Viruses are Unlikely to Escape

Our host-mimetic, direct-acting, broad-spectrum, antiviral agent. NV-387 was found to have activity that surpassed the activity of known agents in lethal virus infection animal model trials for COVID, RSV, Influenza, and Mpox/Smallpox.

In fact, we found that NV-387 treatment possibly completely cured the lethal RSV infection in mice, based on indefinite survival of the animals with no lung pathology. There is currently no treatment for RSV infection. In particular, pediatric RSV infection treatment is an unmet medical need that we believe is of critical importance. Pediatric RSV treatment itself is expected to be a multi-billion-dollar market in the USA alone.

NV-387 treatment was found to be substantially superior to three approved anti-influenza drugs, namely, oseltamivir (Tamiflu®, Roche), peramivir (Rapivab®, Biocryst), and baloxavir (Xofluza®, Shionogi/Roche).

Additionally, NV-387 also demonstrated activity against lethal poxvirus infection animal models that was on par with or superior to the approved drug tecovirimat (TPOXX®, SIGA).

NV-387 acts by a mechanism that is significantly different compared to the tested existing antiviral agents for COVID, Influenza and Poxviruses.

This demonstrated broad-spectrum activity of NV-387 against widely varying viruses is because NV-387 is designed to attack the virus particle by mimicking sulfated proteoglycan (S-PG) feature, and all of these viruses are known to utilize heparan sulfate proteoglycans for gaining cell entry.

Further, for all of these tested viruses, even as the virus genome changes in the field, NV-387 is expected to continue to be effective, and the virus would be highly unlikely to escape NV-387. This is because despite all of the genomic changes, the virus continues to use HSPG, as is well known. Thus NV-387 solves the greatest problem in antiviral countermeasures; the problem of virus escape. Viruses are known to escape all of the current antiviral tools that include vaccines, antibodies, and small chemical drugs.

Thus we anticipate that NV-387 would revolutionize the treatment of viral infections reminiscent of how penicillin revolutionized the treatment of bacterial infections.

NV-387 Regulatory Strategy

In the ensuing year, we plan on advancing NV-387 into Phase II clinical trials. In addition to the Phase II clinical trial to assess effectiveness of NV-387 in treating MPox infections, we are also planning to advance NV-387 into a Phase II clinical trial for treatment of Viral Acute Respiratory Infections (V-ARI), and Viral Severe Acute Respiratory Infections (V-SARI). This clinical trial is expected to provide information on NV-387 effectiveness in treating Influenza viruses, Coronaviruses (including SARS-CoV-2/COVID) as well as RSV.

Thereafter we are planning a regulatory program for advancing NV-387 as the treatment of pediatric RSV infection.

We plan on advancing the regulatory processes for NV-387 registration for other indications including Influenza and COVID via partnerships and non-dilutive funding.

As we meet the milestones, we believe we will be able to raise financing for further regulatory activities for NV-387 registration via non-dilutive grant funding, partnership revenues, as well as equity-based funding.

About NanoViricides

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.

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.

Contact:
NanoViricides, Inc.
info@nanoviricides.com

Public Relations Contact:
ir@nanoviricides.com

View the original press release on ACCESS Newswire

Company Reports Revenues of $45.3 million, an 11.6% Increase Year-Over-Year, In First Earnings Report as a Public Company

Newsmax Remains the 4th Highest-Rated Cable News Channel With Over 33 Million Quarterly Viewers

BOCA RATON, FL / ACCESS Newswire / May 15, 2025 / Newsmax Inc. (NYSE:NMAX) (“Newsmax” or the “Company”) today announced its financial results for the first quarter ended March 31, 2025.

Management Commentary

“We are thrilled to share our first earnings results as a publicly traded company since we listed on the New York Stock Exchange in March,” commented Christopher Ruddy, CEO of Newsmax Inc. “This milestone marks the beginning of an exciting new chapter for us as a public company. I want to sincerely thank everyone who participated in both our private raise and IPO – your support made this achievement possible.”

Ruddy continued, “Newsmax has grown into the fourth highest-rated cable news channel reaching 60 million homes through our main Newsmax channel, our free streaming channel Newsmax2, the Newsmax App and its streaming service Newsmax+, our website Newsmax.com and our publications such as Newsmax Magazine. Newsmax now reaches 20 million combined social media followers through our various accounts, with the best per-follower engagement rate in TV news. Our growth is due in part to our continued mission of providing those Americans with balanced coverage, diverse viewpoints and open debates on the issues they care about.”

“So far in 2025, we are proud to report impressive financial performance, driven by the strength of our brand, audience engagement and our ongoing commitment to independent, values-driven journalism. Our strong relationships with distributors and advertisers, such as our recently announced multi-year agreement with Hulu + Live TV, our broadcasting agreement with the Dominican Republic’s Supercanal and our distribution agreements with Cellcom Israel and Telecom Armenia, not only reinforce our position in key international markets but also ensure that our content reaches broader audiences across platforms.”

“Looking ahead to the rest of 2025, we are well-positioned to continue growing our viewership, securing transformative distribution agreements, expanding our extensive content offerings and bringing onboard quality talent to deliver trusted news to the American people.”

First Quarter 2025 Business and Operational Highlights

• The first quarter 2025 Nielsen report ranked Newsmax highly across a number of metrics:

  • Newsmax hit a recent record 33.6 million viewers watching the network in the first quarter of 2025, up 50% from the same period last year.

  • Newsmax was the fifth highest-rated network in all of cable TV for total day.

  • Newsmax remained the fourth highest-rated cable news channel in the U.S., ranking second in engagement (length-of-tune) for all dayparts ages 35-64.

• Newsmax also broke records in Q1 2025, and for all of 2024, becoming No. 1 for all U.S. news networks (broadcast and cable) for per-follower social interaction rate on Facebook, X and Instagram.

• Newsmax signed a multi-year extension with veteran news anchor and broadcaster Greta Van Susteren to host “The Record with Greta Van Susteren.”

First Quarter 2025 Financial Highlights

• Newsmax reported total quarterly revenues of $45.3 million for the three-month period ended March 31, 2025, representing an 11.6% year-over-year increase.

  • Advertising Revenues increased 13.5% year-over-year to $28.9 million driven by higher linear cable and satellite advertising due to higher Nielsen ratings which translated to higher rates.

  • Affiliate Revenues increased 12.5% year-over-year to $7.4 million driven by new contractual relationships as well as rate increases that went into effect in 2025.

  • Subscription Revenues increased 10.2% year-over-year to $7.0 million driven by an increase in Newsmax + subscribers.

  • Product Sales Revenues increased 9.1% year-over-year to $1.6 million driven by the new book releases of its Humanix subsidiary, including titles “Pay Zero Taxes”, “Turnaround” and “Plan Red”, offset slightly by lower nutraceutical sales.

• Newsmax reported a quarterly Net Loss of $(17.2) million as compared to a Net Loss of $(50.7) million reported in the prior year quarter. While operating expenses increased this quarter, including regulatory, compliance and reporting costs associated with public company requirements, there were significant legal and settlement expenses in the prior year quarter related to the Smartmatic legal settlement.

• Quarterly Adjusted EBITDA was $(1.2) million, a decrease of $4.4 million, or 136.5%, from the amount reported in the prior year quarter, primarily due to an increase in cost of revenues and general and administrative costs associated with the continued expansion of the business, costs associated with becoming a public company and costs associated with coverage of the inauguration of President Donald J. Trump on January 20, 2025.

• The Company ended the quarter with $126.7 million in Cash and Cash Equivalents, an increase of 426.8% from $24.1 million in December 31, 2024.

“We are pleased to report strong quarterly results, highlighted by increased viewer engagement across both linear and digital platforms, growth in advertising partnerships and the successful launch of new programming,” commented Darryle Burnham, Chief Financial Officer. “With enhanced access to capital from our pre-IPO and IPO raises, we are well-positioned to sustain our momentum. As we execute on our financial and strategic priorities, we remain focused on delivering long-term value to our shareholders.”

¹ The Company compensates for limitations of the adjusted EBITDA measure by prominently disclosing GAAP net income (loss), which the Company believes is the most directly comparable GAAP measure, and providing investors with a reconciliation from GAAP net income (loss) to adjusted EBITDA on page 12.

About Newsmax

Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation’s leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major cable and satellite systems. Newsmax’s media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax “a news powerhouse.”

For more information, please visit Investor Relations | Newsmax Media, Inc.

Investor Contacts

Newsmax Investor Relations
ir@newsmax.com

FORWARD-LOOKING STATEMENTS:

This communication contains forward-looking statements. From time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements can be identified by those that are not historical in nature. The forward-looking statements discussed in this communication and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. The Company does not guarantee future results, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. Forward-looking statements should not be relied upon as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this communication to conform our prior statements to actual results or revised expectations, and we do not intend to do so. Factors that may cause actual results to differ materially from current expectations include various factors beyond management’s control, including but not limited to changes in domestic and global general economic and macro-economic conditions and the volatility of the price of Common Stock that may result from, among other things, comments by securities analysts or other third parties, including blogs, articles, message boards and social and other media, large shareholders exiting their position in our Common Stock, any negative public perception of us, sales of shares by Yorkville or other shares we previously registered for resale and/or uncertainties and factors set forth in the sections entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the twelve months ended December 31, 2024, the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2025, and other filings the Company makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Undue reliance should not be placed on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein.

USE AND DEFINITION OF NON-GAAP FINANCIAL MEASURES

This press release contains a financial measure that has not been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). This financial measure is Adjusted EBITDA.

Non-GAAP financial measures are used to supplement the financial information presented on a U.S. GAAP basis and should not be considered in isolation or as a substitute for the relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis. Because not all companies use identical calculations, our presentation of Non-GAAP measures may not be comparable to other similarly titled measures of other companies.

Adjusted EBITDA¹ is defined as revenues less cost of revenues and general and administrative expenses and does not include depreciation and amortization, interest expense, net, impairment charges, unrealized gains (losses) on marketable securities, other corporate matters (consisting primarily of certain litigation expenses, and related fees, for specific legal proceedings that the Company has determined are infrequent and unusual in terms of their magnitude), other, net, and income tax expense.

NEWSMAX INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

⁽¹⁾ On March 28, 2025, the Company announced a 6,765.396 for 1 stock split, effective March 31, 2025. This stock split is reflected retroactively in all periods presented for the common shares issued and outstanding.

NEWSMAX INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME (LOSS)
(Unaudited)

⁽¹⁾ On March 28, 2025, the Company announced a 6,765.396 for 1 stock split, effective March 31, 2025. This stock split is reflected retroactively in all periods presented for the common shares issued and outstanding.

NEWSMAX INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

NEWSMAX INC. AND SUBSIDIARIES
ADJUSTED EBITDA RECONCILIATION
(Unaudited)

SOURCE: Newsmax Inc.

View the original press release on ACCESS Newswire

– Therapeutic DNA Production Services Segment (LineaRx) Revenues Up 44% Y/Y, Contributing to a 6% Increase in Total Revenues –

– Intra-Quarter Investor Conference Call and Webcast Scheduled for 
June 3, 2025, at 4:30 PM ET –

STONY BROOK, NY / ACCESS Newswire / May 15, 2025 / Applied DNA Sciences, Inc. (NASDAQ:APDN) (“Applied DNA” or the “Company”), a leader in PCR-based DNA technologies, today reported financial results for its second quarter of fiscal 2025 ended March 31, 2025.

The Company’s Form 10-Q for its fiscal second quarter can be viewed on the SEC Filings page of its Investor Relations website. To align with the Company’s Annual Meeting of Stockholders on May 22 and ensure a comprehensive post-meeting update, the quarterly investor call will be held on June 3, on which management will update investors on the Company’s strategic priorities.

Management Commentary

“Amidst a challenging macro environment with regulatory headwinds and volatile equity markets, we concluded a strategic reset and have emerged more focused, leaner, and positioned to meet biopharma’s emergent demand for enzymatic DNA with our LineaRx subsidiary positioned as what we believe to be North America’s largest, PCR-based producer of cell-free DNA,” stated Dr. James A. Hayward, chairman and CEO of Applied DNA. “Our strategic priority going forward is to elevate the execution of LineaRx and Applied DNA Clinical Labs in a way that drives consistent and recurring revenues to support higher gross margins and build shareholder value.

“Looking ahead, we believe industry tailwinds are accelerating,” Dr. Hayward concluded. “The biopharma industry is announcing substantial, planned investments in U.S. manufacturing; AI drug design is shortening genetic medicine development timelines, but persistent manufacturing bottlenecks tied to plasmid DNA’s technical constraints remain; and limitations regarding the scalability, efficiency, and cost constraints of competing enzymatic DNA technologies we believe offer market opportunities. With initial capital investments for our now operational Site 1 GMP facility complete, we believe our rapid DNA production and domestic sourcing capabilities are key differentiators to drive new customer acquisition.”

Recent Corporate and Operational Updates

Corporate:

• With the completion of its strategic restructuring, the Company expects quarterly cash burn to begin to decline beginning in the quarter ending June 30, 2025.

LineaRx (Therapeutic DNA Production and Services subsidiary):

• Validated GMP Site 1 manufacturing operations in January with production capabilities sufficient to support anticipated near-term manufacturing needs. Site 1 can support an annual revenue capacity between $10 million and $30 million, contingent on product mix and pricing.

• New customers added:

  • A quantity of Research Use Only (RUO)-grade LineaDNA™ IVT templates and associated LineaRNAP™ for a U.S.-based mRNA contract development and manufacturing organization (CDMO).

  • RUO-grade quantities of LineaDNA for in vitro studies to support four animal health vaccine candidates, with one LineaDNA construct proceeding to an in vivo study.

• Received follow-on orders from existing customers, notably:

  • A quantity of RUO-grade LineaDNA IVT templates to an APAC-based CDMO of mRNA vaccines and therapeutics.

  • A quantity of LineaDNA to a U.S.-based CRISPR and mRNA therapeutics developer.

  • Continued large-scale manufacturing and delivery of LineaDNA under supply agreements with global manufacturers of in vitro diagnostics (IVDs).

• Engagement with a U.S.-based therapeutics developer on a challenging self-amplifying mRNA therapy did not result in a first GMP order, though our dialogue remains active for subsequent projects.

• Nearing completion of a proprietary enzyme and buffer system designed to enhance LinearDNA’s performance by boosting yields, lowering costs, and enabling production of longer, more complex DNA sequences, such as sa-mRNA. Large-scale manufacturing of the enzyme and buffer by a U.S.-based CDMO is expected to begin in June 2025.

• Expected to launch in Q4’25, LineaPCR™ is an offering to enable customers to self-manufacture LineaDNA with an easy, end-to-end process to simplify existing multi-week, multi-vendor, PCR-based drug discovery workflows.

• Launching LineaDNA IVT Evaluation Kits – three 25μg templates and associated LineaRNAP aimed at driving adoption of the LineaIVT platform by showcasing its advantages over plasmid-based systems and accelerating customer engagement in mRNA manufacturing. Kits will be offered at industry conferences and on LineaRxDNA.com.

Applied DNA Clinical Labs (MDx Testing Services subsidiary):

• Submitted a validation package to the New York State Department of Health (NYSDOH) for a PCR-based H5N1 diagnostic as a laboratory-developed test for the detection and subtyping of H5 bird flu, which is currently under review by NYSDOH.

• Introduced TR8™ PGx pharmacogenomic sub-panels for indication-specific use, complementing full-panel testing. The sub-panels are designed to lower adoption barriers for institutions, clinicians, and patients. The first sub-panel launched is TR8 PGx for Pre-emptive Oncology Care relating to fluoropyrimidine-based cancer therapeutics.

Second Quarter Fiscal 2025 Financial Highlights

• Total revenues: $983 thousand, compared to $930 thousand for the second quarter of fiscal 2024. Segment information is detailed in the ‘Note H – Segment Information’ section of the Form 10-Q for the period reported:

  • Therapeutic DNA Production (LineaRx) segment revenues increased 44% compared to the same period of fiscal 2024. The increase in segment revenues was driven by a large shipment to a large-scale DNA manufacturing customer, as well as the timing of shipments for a second large-scale DNA manufacturing customer.

  • MDx Testing Services (Applied DNA Clinical Labs) segment revenues decreased 33% compared to the same period of fiscal 2024 due to a decrease from COVID-19 surveillance testing.

• Operating loss: $3.5 million, compared to an operating loss of $3.6 million for the second quarter of fiscal 2024.

• Net loss: $3.3 million, compared to a net loss of $4.5 million for the second quarter of fiscal 2024. The improvement in net loss primarily reflects a loss on the issuance of warrants in the prior period that was not repeated in the reported quarter.

• Adjusted EBITDA: Negative $3.3 million, compared to negative $3.3 million for the second quarter of fiscal 2024.

• Cash and cash equivalents as of March 31, 2025: $6.8 million, which includes $1.0 million of proceeds from the exercise of Series A warrants.

June 3 Intra-Quarter Investor Conference Call Information

Management will hold a conference call to review the Company’s strategic priorities on June 3, 2025, at 4:30 p.m. Eastern Time. To participate in the conference call, please follow the instructions below. While every attempt will be made to answer investors’ questions on the Q&A portion of the call, not all questions may be answered.

An accompanying slide presentation will be embedded in the webcast (live and replay) that can also be accessed via the ‘Company Presentations‘ page of the Applied DNA investor relations website.

To participate, please ask to be joined to the ‘Applied DNA Sciences’ call:

• Domestic callers (toll free): 844-887-9402

• International callers: 412-317-6798

• Canadian callers (toll free): 866-605-3852

• Live and replay of webcast: link

Telephonic replay (available 1 hour following the conclusion of the live call through June 10, 2025):

• Domestic callers (toll free): 1-877-344-7529

• Canadian callers (toll free): 1-855-669-9658

• Replay access code: 3446494

Information about Non-GAAP Financial Measures

As used herein, “GAAP” refers to accounting principles generally accepted in the United States of America. To supplement our condensed consolidated financial statements prepared and presented in accordance with GAAP, this earnings release includes Adjusted EBITDA, which is a non-GAAP financial measure as defined in Rule 101 of Regulation G promulgated by the Securities and Exchange Commission. Generally, a non-GAAP financial measure is a numerical measure of a company’s historical or future performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information presented in accordance with GAAP. We use this non-GAAP financial measure for internal financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons of the performance and results of operations of our core businesses. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the performance of our businesses by excluding non-cash expenses that may not be indicative of our recurring operating results. We believe this non-GAAP financial measure is useful to investors as they allow for greater transparency with respect to key metrics used by management in its financial and operational decision making.

“EBITDA”- is defined as earnings (loss) before interest expense, income tax expense and depreciation and amortization expense.

“Adjusted EBITDA”- is defined as EBITDA adjusted to exclude (i) stock-based compensation and (ii) other non-cash expenses and non-cash gains/income.

About the LineaDNA™ and Linea IVT™ Platforms

The Linea DNA platform is an entirely cell-free DNA production platform founded on Applied DNA’s long-standing expertise in the large-scale enzymatic production of DNA. Capable of producing DNA in quantities ranging from milligrams to grams, the Linea DNA platform can produce high-fidelity DNA constructs ranging from 100bp to 20kb in size. The DNA produced via the Linea DNA platform is free of the adventitious DNA sequences found in other sources of DNA, is rapidly scalable, and provides for simple chemical modification of DNA constructs. The Linea IVT platform combines DNA IVT templates manufacturing via the Linea DNA platform with a proprietary Linea™ RNAP to enable mRNA and sa-mRNA manufacturers to produce what Applied DNA believes to be better mRNA faster, with advantages over conventional mRNA production, including: 1) the elimination of plasmid DNA as a starting material; 2) the prevention or reduction of double-stranded DNA (dsRNA) contamination; and 3) simplified mRNA production workflows.

About Applied DNA Sciences

Applied DNA Sciences is a biotechnology company developing technologies to produce and detect deoxyribonucleic acid (“DNA”). Using the polymerase chain reaction (“PCR”) to enable both the production and detection of DNA, we operate in two business markets: (i) the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics and the development and sale of a proprietary RNA polymerase (“RNAP”) for use in the production of mRNA therapeutics; and (ii) the detection of DNA and RNA in molecular diagnostics and genetic testing services.

Visit adnas.com for more information. Follow us on X and LinkedIn. Join our mailing list.

Forward-Looking Statements

The statements made by Applied DNA in this press release may be “forward-looking” in nature within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe Applied DNA’s future plans, projections, strategies, and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA. These forward-looking statements are based largely on the Company’s expectations and projections about future events and future trends affecting our business and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including statements regarding its goal to position the Company for long-term growth and value creation and the potential to achieve that goal, including the future success of its Linea DNA and Linea IVT platforms. Actual results could differ materially from those projected due to its history of net losses, limited financial resources, unknown future ability to remain compliant with all Nasdaq listing standards, unknown future demand for its biotherapeutics products and services, the unknown amount of revenues and profits that will result from its Linea IVT and/or Linea DNA platforms, the fact that there has never been clinical trial material and/or a commercial drug product produced utilizing the LineaDNA and/or Linea IVT platforms, the unknown amount of revenues and profits that will result from its current and planned future ADCL testing services, whether its restructuring will position the Company for future growth potential, as well as various other factors detailed from time to time in Applied DNA’s SEC reports and filings, including its Annual Report on Form 10-K filed on December 17, 2024, Forms 10-Q filed on February 13, 2025 and May 15, 2025, and other reports it files with the SEC, which are available at www.sec.gov. Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date hereof or to reflect the occurrence of unanticipated events, unless otherwise required by law.

Investor Relations contact: Sanjay M. Hurry, 917-733-5573, sanjay.hurry@adnas.com

Web: www.adnas.com

X: APDN

– Financial Tables Follow –

APPLIED DNA SCIENCES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS

APPLIED DNA SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)

APPLIED DNA SCIENCES, INC.
CALCULATION AND RECONCILIATION OF ADJUSTED EBITDA
(unaudited)

SOURCE: Applied DNA Sciences, Inc.

View the original press release on ACCESS Newswire

First quarter 2025 gross margin, excluding FaZe Media of 22.8%

Significant year-over-year improvement in first quarter 2025 adjusted EBITDA

Completed remaining divestiture of FaZe Media on April 1, 2025, which is expected to expand gross margin and eliminate approximately $2.5 million in quarterly cash burn going forward

Improved first quarter profitability in line with expectations and supports GameSquare’s strategic focus on achieving positive cash flow and adjusted EBITDA in 2025

FRISCO, TEXAS / ACCESS Newswire / May 15, 2025 / GameSquare Holdings, Inc. (NASDAQ:GAME), (“GameSquare”, or the “Company”), today announced financial results for the three-months ended March 31, 2025.

Justin Kenna, CEO of GameSquare, stated, “Our first quarter financial results were in line with expectations and reflect both the final quarter of FaZe Media’s impact on profitability and typical seasonal trends within our agency and programmatic advertising businesses. With the April 1, 2025 divestiture of our remaining 25.5% stake in FaZe Media, we eliminated $10 million in convertible debt from our balance sheet and anticipate an improvement in gross margin and reduction of over $2 million in quarterly operating expenses beginning in the second quarter of 2025. We continue to own 100% of FaZe Clan Esports, which contributed to revenue and was accretive to gross margin in the first quarter of 2025. As one of the top global esports teams, we are excited to capitalize on FaZe Clan Esports success and leverage the brand to drive profitable revenue opportunities.”

“Our SaaS business segment is well positioned for strong growth in 2025, driven by an expanded managed services offering and the integrated capabilities of the broader GameSquare platform. We are also seeing strong momentum in our creative agency business, particularly from successful world-building campaigns and in-person activations,” Mr. Kenna continued.

“As we continue to optimize our operating structure, achieving profitability remains a core objective of our 2025 strategy. In the first quarter, we significantly improved proforma, adjusted EBITDA from the same period a year ago reflecting a significant reduction in operating expenses. We expect to benefit from higher gross margin and additional cost-saving measures throughout the year. Based on the progress made in the first quarter, we believe we are on track to organically grow sales, and improve profitability in 2025 and beyond,” concluded Mr. Kenna.

Three months ended March 31, 2025, compared to March 31, 2024

• Revenue of $21.1 million, compared to $17.7 million

• Gross profit of $3.3 million, compared to $3.4 million

• Net loss attributable to GameSquare of $5.2 million, compared to a net loss of $5.3 million

• Adjusted EBITDA loss of $3.4 million, compared to a loss of $4.1 million

• Adjusted EBITDA loss was 16.1% of revenue, versus 23.3% of revenue last year

Reported results for the three months ended March 31, 2025, compared to proforma* results for the three months ended March 31, 2024

• Revenue of $21.1 million, compared to $23.5 million

• Gross profit of $3.3 million, compared to $3.7 million

• Operating expenses of $8.6 million, or 40.7% of revenue, compared to $11.6 million or 49.3% of revenue last year

• Adjusted EBITDA loss of $3.4 million, compared to a loss of $7.9 million last year

• Adjusted EBITDA loss was 16.1% of revenue, versus 33.7% of revenue last year

* Proforma financial results for the three months ended March 31, 2024, removes Complexity from GameSquare’s financial statements and includes a full quarter contribution of FaZe Clan

2025 Annual Guidance

• Annual proforma revenue in 2025 between $100 million to $105 million

• Annual gross margin of approximately 20% to 25% benefiting from a more profitable mix of revenue and the April 1, 2025, FaZe Media divestiture

• GameSquare expects annual cash operating expenses in 2025 to improve by approximately $15 million from cash operating expenses in 2024 of $35 million, as a result the FaZe Media divestiture and a continual focus on reducing operating expenses and driving efficiencies

• EBITDA and cash flow to improve throughout 2025 with positive EBITDA and cash flow in the second half of 2025

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:

Date: May 15, 2025
Time: 5:00 pm ET
Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=BU7rSscH

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’s (NASDAQ:GAME) mission is to revolutionize the way brands and game publishers connect with hard-to-reach Gen Z, Gen Alpha, and Millennial audiences. Our next generation media, entertainment, and technology capabilities drive compelling outcomes for creators and maximize our brand partners’ return on investment. Through our purpose-built platform, we provide award winning marketing and creative services, offer leading data and analytics solutions, and amplify awareness through FaZe Clan Esports, one of the most prominent and influential gaming organizations in the world. With one of the largest gaming media networks in North America, as verified by Comscore, we are reshaping the landscape of digital media and immersive entertainment. GameSquare’s largest investors are Dallas Cowboys owner Jerry Jones and the Goff family.

To learn more, visit www.gamesquare.com.

Forward-Looking Information

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 and FaZe Media’s future performance, revenue, growth and profitability; and the Company’s and FaZe Media’s ability to execute their 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 and FaZe Media’s ability to grow their business and being able to execute on their business plans, the Company being able to complete and successfully integrate acquisitions, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to supports 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)

GameSquare Holdings, Inc.
Consolidated Statements of Operations and Comprehensive Loss
(Unaudited)

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)

SOURCE: GameSquare Holdings, Inc.

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