VANCOUVER, BC / ACCESS Newswire / November 12, 2025 / American Critical Minerals Corp. (“American Critical Minerals” or the “Company“) (CSE:KCLI)(OTCQB:APCOF)(FRANKFURT:2P30) is pleased to announce that the USGS has recently updated the Secretary of the Interior, acting through the director of the U.S. Geological Survey (“USGS”) and has now finalized the 2025 list of critical minerals to include both Potash and Lithium. The updated list emphasizes “Critical minerals are essential for national security, economic stability, and supply chain resilience because they underpin key industries, drive technological innovation, and support critical infrastructure vital for a modern American economy“. Furthermore, the notice goes on to state “The Nation possesses vast mineral resources that can create jobs, fuel prosperity, and significantly reduce our reliance on foreign nations, and the United States is taking actions to facilitate domestic mineral production. The List of Critical Minerals guides strategies to secure the Nation’s mineral supply chains” (See the Federal Register as posted on 11/07/2025 and available online at https://federalregister.gov/d/2025-19813, and on https://govinfo.gov).
Simon Clarke, President and CEO stated, “This timely announcement further underpins the importance of unlocking the potential of both Potash and Lithium within our Green River Project. Now with our recent bought deal financing closed and our technical team expanded with the appointment of Dean Pekeski, we can focus on executing our carefully designed phased drilling program(s) to confirm historical data and work towards maiden resources for both potash and lithium”.
About American Critical Minerals’ Green River Potash and Lithium Project
The Green River Potash and Lithium Project is situated within Utah’s highly productive Paradox Basin, located 20 miles northwest of Moab, Utah. It has significant logistical advantages including close proximity to major rail hubs, airport, roads, water, towns and labour markets. It also benefits from close proximity to the agricultural and industrial heartland of America and numerous potential end-users for its products.
The history of oil and gas production across the Paradox Basin provides geologic data from historic wells across the Project, and the wider Basin, validating and de-risking the potential for high grade potash and large amounts of contained lithium. Wells in and around the project reported lithium up to 500 ppm, bromine up to 6,100 ppm and boron up to 1,260 ppm (Gilbride & Santos, 2012). This data is reinforced by nearby potash production and the advanced stage of neighbouring lithium projects. The Paradox Basin is believed to contain up to 56 billion tonnes of lithium brines, potentially the largest such resource in US (Source:AnsonFastmarketsPresentation- https://wcsecure.weblink.com.au/pdf/ASN/02823465.pdf ).
The Company’s National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) Potash Exploration Target consists of 500 million to 950 million tonnes of sylvinite (the most important source for the production of potash in North America) grading from 12% to 18% potassium oxide based on elog (eK2O=19% to 29% potassium chloride based on elog (eKCl)). Its Exploration Targets for Lithium and Bromine are 2.1 billion cubic meters (brine volume) grading from 71.6 to 216.3 parts per million lithium; and 2.1 billion cubic meters (brine volume) grading from 3,656 to 4,741 parts per million bromine.**
The Company holds a 100% interest in eleven State of Utah (“SITLA“) mineral and minerals salt leases covering approximately 7,050 acres, 1,094 federal lithium brine claims (BLM Placer Claims) covering 21,150 acres, and 11 federal (BLM) potash prospecting permits covering approximately 25,480 acres. Through these leases, permits and claims the Company has the ability to explore for potash, lithium and potential by-products across the entire Green River Project (approx. 32,530 acres). The Company is authorized to drill a total of 7 drill holes across the Project (pending bonding the recently approved 4 drill holes).
Intrepid Potash, Inc. is America’s largest potash company and only U.S. domestic potash producer and currently produces potash from its nearby Moab Solution Mine, which the Company believes provides strong evidence of stratigraphic continuity within this part of the Paradox Basin (www.intrepidpotash.com). Anson Resources Ltd. has advanced lithium development projects contiguous to the northern boundary of our Green River Project and neighbouring to the south. Anson has a large initial resource, robust definitive feasibility study and has recently completed successful piloting operations through its partnership with Koch Technology Solutions, as well as an offtake agreement with LG Energy Solution. The Anson exploration targets encompass the combined Mississippian Leadville Formation and the Pennsylvanian Paradox Formation brine-bearing clastic layers, which also underlie American Critical Minerals’ entire project area (www.ansonresources.com)*.
In 2022, the U.S. imported approx. 96.5% of its annual potash requirements with domestic producers receiving a higher sales price due to proximity to market (intrepidpotash.com/ August 15, 2024, Investor Presentation). In March 2024, the US Senate introduced a bill to include key fertilizers and potash on the US Department of Interior list of Critical Minerals which already includes lithium, and this process is well advanced with potash being added to the USGS Draft Critical Minerals List. In August 2025. Recent market estimates suggest that the global potash market is over US$50 billion annually and growing at a compound annual growth rate (“CAGR”) of close to 5%. Annual lithium demand is now estimated to be over 1 million tonnes globally and continuing to grow rapidly***.
****Exploration Targets are conceptual in nature and there has been insufficient exploration to define them as Mineral Resources, and, while reasonable potential may exist, it is uncertain whether further exploration will result in the determination of a Mineral Resource under NI 43-101.
Qualified Person
The technical content of this news release has been reviewed and approved by Dean Besserer, P.Geo., the Chief Operations Officer of the Company and a qualified person for the purposes of NI 43-101.
On behalf of the Board of Directors
Simon Clarke, President & CEO
Contact: (604)-551-9665
*American Critical Minerals’ management cautions that results or discoveries on properties in proximity to the American Critical Minerals’ properties may not necessarily be indicative of the presence of mineralization on the Company’s properties.
**A report titled “NI 43-101 Technical Report – Green River Potash and Lithium Project, Grand County, Utah, USA”, prepared by Agapito Associates Inc., and dated October 27, 2025, quantifies the Green River Potash Project’s potash, lithium and bromine exploration potential in the form of NI 43-101 Exploration Targets. The Exploration Target estimate was prepared in accordance with NI 43-101. It should be noted that Exploration Targets are conceptual in nature and there has been insufficient exploration to define them as Mineral Resources, and, while reasonable potential may exist, it is uncertain whether further exploration will result in the determination of a Mineral Resource under NI 43-101. Details of the basis on which the Exploration Targets have been determined is included in the Report. The Exploration Target stated in the Report is not being reported as part of any Mineral Resource or Mineral Reserve. A copy of the report can be accessed on both SEDAR+ (www.sedarplus.ca) and the corporate website for the Company: www.acmineralscorp.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking information or forward-looking statements within the meaning of 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 discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, 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: use of proceeds; statements about exploration targets; goals of the Company; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; and future exploration prospects.
Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking statements are based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Forward-looking statements also involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading “Risks and Uncertainties” in the Company’s most recently filed MD&A.
Forward-looking information contained herein are made as of the date of this news release and the Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. 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 forward-looking statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SHELTON, CONNECTICUT / ACCESS Newswire / November 12, 2025 / NanoViricides, Inc. (NYSE American:NNVC) (the “Company”), today announced the closing of its previously announced securities purchase agreement with a single healthcare institutional investor for the purchase and sale of 3,571,429 shares of common stock (or common stock equivalents in lieu thereof) at a purchase price of $1.68 per share in a registered direct offering (the “Offering”). The gross proceeds from the Offering are approximately $6 million, before deducting placement agent commissions and other offering expenses. In addition, in a concurrent private placement, the Company has issued and sold Series A warrants to purchase up to 3,571,429 shares of common stock (the “Series A Warrants”) and Series B warrants to purchase up to 3,571,429 shares of common stock (the “Series B Warrants” and, together with the Series A Warrants, the “Warrants”). The Series A Warrants have an exercise price of $1.75 per share, are exercisable after 6 months from date of issuance, and expire 2 years following the issuance date. The Series B Warrants have an exercise price of $2.00 per share, are exercisable after 6 months from date of issuance, and expire 5.5 years following the issuance date. The exercise price of the Series B Warrants represents approximately a 20% premium to the closing price for the Company’s common stock on November 10, 2025.
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.
A.G.P./Alliance Global Partners acted as the sole placement agent in connection with the offering.
The common stock (and common stock equivalents in lieu thereof) offered to the institutional investor described above were offered pursuant to a registration statement on Form S-3 (File No. 333-271706) which was declared effective by the Securities and Exchange Commission (the “SEC”) on May 22, 2023. The offering was made only by means of a prospectus supplement and accompanying prospectus which are a part of the effective registration statement. The Warrants were issued in a concurrent private placement. A prospectus supplement and the accompanying prospectus relating to the registered direct offering were filed with the SEC and is available on the SEC’s website at www.sec.gov. Additionally, electronic copies of the prospectus supplement and the accompanying prospectus may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
The private placement of the Warrants and the shares underlying the warrants offered to the institutional investor were made in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, (the “Securities Act”) and Regulation D promulgated thereunder. Accordingly, the securities issued in the concurrent private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
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.
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.
Forward Looking Statements
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 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 SEC 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.
“OpenAI’s reported move validates exactly what we’ve spent fifteen years building,” said Anthony Dohrmann, CEO of Electronic Caregiver. “The challenge isn’t AI alone – it’s understanding the living complexity of human care, clinical workflows, payer models, tax structures, compliance systems, and behavioral engagement that make virtual health scalable and sustainable. Addison Care already unites those worlds.”
The Validation of a Global Thesis
Electronic Caregiver’s mission – to democratize healthcare through intelligent, interactive AI – has now been validated by the largest names in technology. While OpenAI and its rivals conceptualize their first devices, Addison Care is already deployed across private-pay, Medicare, Medicaid, and commercial programs, integrated with OpenAI’s ChatGPT, and operating at scale with real-world patients and care teams.
Addison Care combines a lifelike 3D avatar interface with real-time vitals monitoring, medication management, cognitive engagement, emergency response, and TeleCare integration – all within a HIPAA-compliant, AWS-certified, enterprise-grade architecture.
Every activation orchestrates dozens of services and vendors – IoT devices, cloud services, billing engines, EHR connections and human telehealth support – within a single platform. This operational depth remains the true barrier to entry for the world’s largest AI firms.
“The ecosystem we’ve built is measured not in lines of code but in operational intelligence,” Dohrmann said. “Without that wisdom, even the most powerful AI models will struggle to engage patients and deliver sustained behavioral change in health.”
Strategic Position: OpenAI, Anthropic, and the Next AI Race
When OpenAI launched ChatGPT, the reaction inside other tech giants was immediate and existential. Microsoft jumped the shark with a $10 billion investment into OpenAI, cementing its stake in the most transformative software movement since the internet’s birth. Recognizing they could not catch up organically, Google and Amazon poured billions into Anthropic and its Claude model – their only option to remain in the game. That moment reshaped the AI industry overnight.
Today, history is repeating in digital health. While Addison Care is currently integrated with OpenAI’s ChatGPT, if OpenAI does not recognize the need to go all-in with Electronic Caregiver, its competitors will have no choice but to align with ECG to overcome a potential OpenAI advantage. The stakes are measured not in apps or chatbots but in who owns the AI infrastructure powering the next decade of global healthcare.
Beyond Screenless: Embodied AI for Home and Inpatient Automation
While some envision a “screenless” AI future, Electronic Caregiver’s research finds otherwise. Roughly one-third of the human brain is devoted to visual processing – more than any other sense, and true behavioral change requires visual and emotional immersion. Addison Care engages users through empathetic visual interaction – stimulating dopamine, serotonin and oxytocin pathways essential to health motivation and adherence.
Addison’s architecture extends beyond the home into hospital and inpatient automation, coordinating care with robotics, sensors and connected IoT devices to improve efficiency, safety and precision.
AWS Alignment: A Rare Full-Stack Achievement
ECG has completed multiple Foundational Technical Reviews (FTRs) and graduated from the AWS Partner Accelerate Program, placing Addison Care and Addison Aware on the AWS Marketplace. The company has also submitted case studies for the AWS Healthcare Competency designation, a multi-year process achieved by only a small number of global partners.
Through its co-sell agreement with Amazon, AWS sales teams are incentivized to introduce ECG into health and AI infrastructure deals, accelerating their own annual targets while amplifying Addison Care’s reach. ECG plans to go “all-in” through 2026 to expand joint sales and deployment opportunities with Amazon and other partners.
The 1% That Redefines AI in Healthcare
McKinsey & Company recently reported that 88% of companies apply AI to optimize legacy systems, only 6% show early disruption, and 1% demonstrate mature, industry-transformative application. Electronic Caregiver is that 1% – the rare organization whose AI architecture was conceived from day one for health engagement, not retrofitted onto obsolete systems.
“Fifteen years of groundwork cannot be compressed into a sprint,” Dohrmann said. “The leaders of the AI era will be those who align with platforms that already understand humanity, health and the systems that connect them.”
About Electronic Caregiver, Inc.
Founded in 2009 and headquartered in Las Cruces, New Mexico, Electronic Caregiver is a leading health-technology and services company developing AI-driven solutions for virtual care, chronic-disease management, and aging in place. Its flagship platform, Addison Care®, is an avatar-based virtual caregiver delivering daily engagement, vitals monitoring, medication management, emergency response and integrated TeleCare support. ECG’s enterprise infrastructure is HIPAA-compliant, AWS Well-Architected certified and integrated with global cloud, IoT and AI partners. For more information, visit www.electroniccaregiver.com.
SynchNeuro is a Portfolio Company of Boomerang Ventures
INDIANAPOLIS, IN / ACCESS Newswire / November 12, 2025 / Boomerang Ventures adds SynchNeuro, Inc. to its portfolio of seed-stage investments, backing the pioneering neurotechnology company’s development of the world’s first brain-based, non-invasive continuous glucose monitor. The investment supports SynchNeuro’s mission to revolutionize cardiometabolic health monitoring through EEG-based technology that interprets brain signals to track blood glucose levels and other vital health metrics in real time.
With Boomerang Ventures’ strategic partnership and funding, SynchNeuro is accelerating the development of its breakthrough Cardiometabolic Advisor system. The wearable sensor – discreetly placed behind the ear – decodes brainwave data using advanced machine learning algorithms, enabling users to monitor not only blood sugar but also sleep, stress, and activity levels, creating a holistic view of their cardiometabolic health.
“The brain is the richest data source imaginable, and until now, it’s been largely untapped as a window into our body’s health,” said Dr. Casey Halpern, Founder & Chairman of SynchNeuro. “At SynchNeuro, we’re leveraging the brain’s own electrical signals to provide a real-time, proactive understanding of cardiometabolic function, empowering people to make informed lifestyle decisions and take control of their health.”
Addressing a Growing Health Crisis
Prediabetes and Type 2 (non-insulin treated) diabetes affect more than 125 million Americans (prediabetes number + type 2 non-insulin number), costing the U.S. healthcare system nearly $200 billion annually (type 2 diabetes; assumptions made related to insulin needs + prediabetes). Yet millions lack access to affordable, proactive monitoring tools and guidance. SynchNeuro aims to fill this gap with a needle-free, rechargeable, and low-cost alternative to traditional continuous glucose monitors (CGMs), which are reactive, expensive, and often inaccessible for early-stage diabetes patients.
Dr. Halpern notes that SynchNeuro’s technology is not only pain-free but also predictive, “Because the brain has predictive capabilities, our system provides a morning blood sugar forecast and personalized lifestyle guidance for the day – something no existing solution offers.”
Innovation and Investment Aligned
Building on over a decade of academic research from Stanford University, SynchNeuro’s technology interprets EEG signals to assess glucose fluctuations, heart rate variability, sleep quality, and activity levels. In early proof-of-concept testing, the company achieved accuracy levels that already meet FDA thresholds for glucose monitors, demonstrating the potential for clinical-grade performance in a fully non-invasive device.
“SynchNeuro is a remarkable example of how neuroscience and artificial intelligence can converge to create life-changing health technologies,” said Oscar Moralez, Founder & Managing Partner of Boomerang Ventures. “Their focus on translating complex science into accessible, everyday solutions embodies the spirit of innovation we champion at Boomerang.”
Momentum Builds with Plug and Play Lifetech Selection
Adding to its recent milestones, SynchNeuro was selected to join the inaugural Lifetech Batch at Plug and Play in Indianapolis, a globally recognized innovation accelerator connecting startups with investors, mentors, and Fortune 500 corporations.
The Plug and Play Lifetech program provides tailored mentorship, business development opportunities, and access to industry leaders in healthcare, digital health, and biotechnology – all aimed at helping startups refine strategy and bring breakthrough technologies to market. SynchNeuro’s selection reflects the novelty, clinical relevance, and commercial potential of its brain-based health monitoring platform.
“Being part of Plug and Play’s first Lifetech program in Indianapolis is an incredible opportunity to collaborate with top minds in healthcare innovation and connect with potential strategic partners,” said Halpern. “It reinforces the growing excitement around non-invasive, brain-driven health technology.”
Building the Future of Proactive Health Monitoring
Over the next 12 to 18 months, SynchNeuro will continue developing its long-term vision to become the go-to platform for cardiometabolic health management – expanding over time into adjacent areas such as cardiac health, mental wellness, and sleep optimization.
“Our goal is to make health monitoring accessible, proactive, and empowering for everyone,” said Halpern. “We’re just beginning to unlock the brain’s potential to guide how we live healthier lives.”
About Boomerang Ventures
Founded in 2019, Boomerang Ventures is a venture capital firm focused on early growth-stage connected health technology companies. Leveraging a combination studio and venture fund, Boomerang provides the collaborative direction, deep industry expertise, and continuum of support founders need to take their innovations from ideation to market. Boomerang believes that better patient care begins with identifying and solving the biggest challenges in healthcare. Boomerang Ventures is proudly and strategically based in Indianapolis, where the healthcare and entrepreneurial business climate is a thriving community ripe with opportunities. With a secure niche at the intersection of health technology, studio-fund synchronization, and the Midwest, Boomerang differentiates itself from the competition. Boomerang Ventures is Healthcare Innovation, Reimagined. For more information, visit Boomerang.vc.
About SynchNeuro
SynchNeuro, Inc. is a health technology startup headquartered in Philadelphia, Pennsylvania, developing the world’s first brain signal-based, non-invasive platform for real-time cardiometabolic health monitoring. By decoding brainwave (EEG) activity into glucose and cardiometabolic insights, SynchNeuro offers a novel, consumer-friendly alternative to traditional glucose monitors. The company’s breakthrough technology provides proactive health insights and empowers individuals with prediabetes and early-stage Type 2 diabetes to take control of their wellness. For more information, visit synchneuro.com.
11/12/2025 – Article updated to correct “Jim Krieg” to “James Kreig”
MALVERN, PENNSYLVANIA / ACCESS Newswire / November 12, 2025 / Pace Surgical, a Runway Healthcare portfolio company pioneering advancements in lower extremity fixation, today announced that the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance for its Ultra Compression Screw System™, indicated for the internal fixation and stabilization of arthrodesis, osteotomies, fractures, and nonunion of the foot and ankle.
The Ultra Compression Screw System introduces a patent-pending approach to mechanical compression and fixation, addressing longstanding challenges in achieving consistent bone apposition and stable union across a variety of anatomic sites. Its design delivers predictable compression, high pull-out strength, and consistent torque upon insertion as a new standard for forefoot, midfoot, and hindfoot applications.
“Surgeons know that reliable compression and ease of use determine success in foot and ankle reconstruction,” said Bill Rhoda, Chief Technology Officer of Pace Surgical and General Partner of Runway Healthcare. “The Ultra Compression Screw System was engineered in direct collaboration with surgeons to provide reproducible results and tactile feedback, and to restore anatomical constructs with purpose-built solutions. This clearance accelerates our plans to bring a differentiated solution to a growing procedural market.”
James C. Kreig, M.D., Chief of Orthopaedic Trauma and Fracture Care of Rothman Orthopeadics’ and Professor of Orthopaedic Surgery at Thomas Jefferson University in Philadelphia, and head of Pace Surgical Surgeon Design Team, stated, “As a surgeon, I know that much of how well a screw functions has to do with how accurately it has been inserted. In that regard, the handling characteristics are essential. How accurately can I place it, and can any surgeon do it as well? The ‘secret sauce’ of the Ultra Screw is a unique set of features that make it easier to start and provide for a more consistent torque required to insert. The predictable ‘just right’ insertional torque makes it easier to fully tighten the screw, without causing it to strip. I look forward to using the Ultra Screw in my practice.”
Pace’s Surgeon Design Team consists of some of the top minds in orthopedic reconstruction and foot and ankle surgery, globally from Trauma, Orthopedics, and Podiatry, with James Kreig, MD, Samir Mehta, MD, Lew Schon, MD, Greg Guyton, MD, Nicholas Romansky, DPM, and Steven Soondar, DPM.
With more than 1.5 million trauma and reconstruction foot and ankle procedures performed annually in the U.S., the market for stable, easy-to-use fixation systems continues to expand as patient demand and surgeon efficiency pressures increase. Pace Surgical’s Ultra Compression Screw System delivers a combination of performance, simplicity, and versatility that appeals to both high-volume reconstructive surgeons and strategically positioned acquirers seeking a next-generation foot and ankle platform.
The Ultra Compression Screw System features a self-starting tip geometry and thread form that or optimizes bone engagement, and reduced stripping, and allows for consistent torque through varying bone quality and densities.
The company plans a limited release of the Ultra Compression Screw System in select surgical centers, followed by a broader commercial rollout later in 2026 of Pace’s full reconstruction offering, to include anatomical locking plates and screws.
Pace Surgical operates within Runway Healthcare, a MedTech venture studio that develops and scales breakthrough technologies in Orthopedics, Trauma, and Spine through a focused, capital-efficient model.
This press release contains “forward-looking statements” concerning the development of Pace Surgical products, the potential benefits and attributes of those products, and the company’s expectations regarding its prospects. Forward-looking statements are subject to risks, assumptions, and uncertainties that could cause actual future events or results to differ materially from such statements. These statements are made as of the date of this press release. Actual results may vary. Pace Surgical undertakes no obligation to update any forward-looking statements for any reason.
About Pace Surgical:
Pace Surgical was founded to provide foot and ankle surgeons with anatomically appropriate surgical solutions to preserve anatomical constructs and quality of life for patients. Pace Surgical’s majority stockholder is Runway Healthcare, LP, a MedTech accelerator investment fund. Visit Pace-Surgical.com.
About Runway Healthcare:
Runway Healthcare is an early-stage medical device Venture Studio focused on early-stage technology in the Orthopedic, Cardiovascular, and Neurology sectors. Runway Healthcare finances and manages the product development process of its portfolio companies. Upon navigating a portfolio company through the regulatory process, Runway Healthcare will seek to transition the company’s ownership to larger multi-national healthcare companies for commercialization. Visit https://runwayhc.com.
Tech PR agency recognized for excellence in brand and reputation management; Songue CEO honored as Inspiring Leader and Entrepreneur of the Year
SAN FRANCISCO, CA / ACCESS Newswire / November 12, 2025 / Songue PR, a full-service communications agency supporting high-growth technology companies, has taken top honors at the 2025 Stevie® Awards for Women in Business, winning gold in two categories: Achievement in Brand and Reputation Management and Female Entrepreneur of the Year.
The Achievement in Brand and Reputation Management award is given to agencies for excellence across specific campaigns. Songue PR was recognized for its success in helping to reposition a global AI company as a trusted leader in ethical AI. The 12-month program achieved a 107% increase in positive media coverage and a 63% reduction in negative sentiment – transforming a period of reputational challenge into one of renewed credibility and strategic visibility. The campaign blended crisis management, narrative control and proactive thought leadership to restore confidence across investors, customers and the media.
The Female Entrepreneur of the Year award honored Songue PR’s CEO and co-founder, Natalee Gibson, for her leadership in redefining the agency model for technology communications – one built on editorial precision, measurable outcomes and senior-led strategy. Under her direction, Songue PR continues to deliver the speed, depth and quality typically associated with global agencies while maintaining the agility of a boutique firm.
Stevie Awards judges commended Natalee’s ability to “deliver Fortune 100-level outcomes through a lean, boutique model,” noting that “in a world where PR can turn from positive to negative in a heartbeat, her commitment to leading engagements with clarity and precision has turned Songue PR into a firm that delivers meaningful results.”
In addition to her Stevie honors, Natalee was also named a 2025 Inspiring Leader by the Inspiring Workplaces Group, recognized for her transparent leadership style and her focus on creating a culture defined by trust, accountability and professional growth.
“These awards reflect the collective effort behind Songue’s success,” said Gibson. “I’m lucky to lead a team that consistently brings clarity and creativity to complex challenges, and to partner with clients who see communications as an essential part of building their business. These recognitions belong as much to them as they do to us.”
Since its founding, Songue PR has a successful track record of supporting companies through M&A and IPO processes, maintaining full senior retention while achieving 80% growth through referrals and repeat business. The agency’s recent milestones include the launch of its PR Sprint program for early-stage technology companies and continued partnerships with global leaders in AI, cybersecurity and education.
– ENDS –
About Songue PR Songue PR is a boutique communications agency built for technology companies operating at moments of inflection, including launch, scale, investment or transformation. The agency delivers senior-level strategy, editorial discipline and measurable outcomes for clients around the world. Songue’s proven track record includes helping founders and executives shape reputation where it matters most, delivering multi-faceted, full service PR programs tailored to each client’s needs that assure meaningful results.
With DispatchOne, Dispatch evolves from a delivery service into a technology platform enabling intelligent last-mile logistics for enterprise businesses.
BLOOMINGTON, MN / ACCESS Newswire / November 12, 2025 / Dispatch, the leader in last-mile logistics innovation, today announced the launch of DispatchOne, its flagship AI-powered platform designed to unify delivery operations and empower enterprises with unparalleled control, intelligence, and reliability across the last mile.
The launch marks a bold repositioning of Dispatch, evolving from a delivery services provider to a technology platform and orchestration engine. With DispatchOne, businesses gain end-to-end visibility and efficiency, backed by a managed national network of verified professional drivers.
A Unified Platform for Delivery Intelligence
DispatchOne combines intelligent logistics, reliable fulfillment, transparent insights, and robust integration into a single ecosystem. By integrating owned fleets, carrier providers, and client systems, DispatchOne delivers what enterprises have long needed: one platform to manage every delivery, with national coverage and proven ROI.
What’s In The Platform:
Orchestrate any fleet: Route and assign across owned assets and third-party carriers from a single source.
Reliability at scale: National coverage with a vetted driver network and performance safeguards.
Built to connect: RobustAPIs and seamless integrations with TMS, ERP, and eCommerce systems deliver instant value across tech stacks.
Proven Impact for Enterprises
Enterprises using DispatchOne are already seeing measurable results, achieving a 93.8% customer satisfaction score (CSAT) and saving over 77 million customer miles through optimized delivery efficiency and intelligent routing.
“DispatchOne represents more than just a platform launch; it’s the moment we redefine what last-mile logistics can be,” said Alexia Smith, VP of Marketing at Dispatch. “Enterprises no longer have to choose between visibility, reliability, or scale. This positions Dispatch as the partner of choice for businesses ready to turn last-mile logistics into a strategic advantage.”
About Dispatch: Dispatch redefines the future of last-mile logistics. Its flagship platform, DispatchOne, is the AI-powered operating system that unifies owned fleets, carrier providers, and systems into one intelligent ecosystem. With the people-power of verified and vetted professional driver network, Dispatch turns delivery into a strategic advantage for businesses.
NORTH BILLERICA, MA / ACCESS Newswire / November 12, 2025 / Tecogen Inc. (NYSE American:TGEN), a leading manufacturer of clean energy products, reported revenues of $7.18 million and net loss of $2.13 million for the quarter ended September 30, 2025 compared to revenues of $5.63 million, and a net loss of $0.93 million in 2024. Our cash and cash equivalents balance was $15.25 million at September 30, 2025.
Abinand Rangesh, CEO of Tecogen, commented that “since our last earnings call we have made tremendous progress. First, the potential data center customer we have an LOI from is now considering us for three sites and for a much larger portion of the AI load. This may result in significantly more chiller sales than the original LOI.
We have also now attracted the interest of bigger, more established data center developers. Many have multiple data centers in construction. The feedback from some of the larger developers is not only validating everything we’ve said to date, but that the power allocated to cooling is larger than we originally anticipated. We have also become aware of other benefits of our solution as a result of our discussions with larger developers. The Vertiv relationship has also taken a positive turn and is building momentum.
Last, we were able to present our solution to both of the big AI chip manufacturers and have received positive feedback.
We have also increased our R&D spend to push our technical edge in natural gas cooling and increase service intervals on our engines. This will be critical in data center applications where we might have a hundred engines in one location but will also be instrumental in increasing service margins fleet wide. To test our product improvements on a larger scale and to improve service margins, especially in NYC, we invested $700k in new engines this quarter. Although this impacts service margin substantially in the short term, it will more than pay for itself in longer term benefits.
During the call I will shed more light on next steps to convert our LOI with a data center developer to a PO, next steps with some of the larger developers, and recent developments in the Vertiv relationship.”
Key Takeaways
Net Loss and Earnings Per Share
Net loss for the quarter ended September 30, 2025 was $2.13 million compared to a net loss of $0.93 million for the same period of 2024, an increase of $1.20 million, due to decreased gross profit from our Services segment and an increase in operating expenses. EPS for the quarter ended September 30, 2025 and 2024 was a loss of $0.07/share and $0.04/share, respectively. The weighted average shares outstanding for the quarter ended September 30, 2025 and 2024 were 28,817,040 shares and 24,850,261 shares, respectively, reflecting shares issued in the July 2025 follow on offering.
Net loss for the nine months ended September 30, 2025 was $4.25 million compared to a net loss of $3.57 million for the same period of 2024, an increase of $0.68 million, due to decreased gross profit from our Services segment and an increase in operating expenses. EPS for the nine months ended September 30, 2025 and 2024 was a loss of $0.16/share and $0.14/share, respectively. The weighted average shares outstanding for the nine months ended September 30, 2025 and 2024 were 26,354,875 shares and 24,850,261 shares, respectively, reflecting shares issued in the July 2025 follow on offering.
Loss from Operations
Loss from operations for the quarter ended September 30, 2025 was $2.10 million compared to a loss from operations of $0.87 million for the same period in 2024, an increase of $1.23 million, due to decreased gross profit from our Services segment and an increase in operating expenses.
Loss from operations for the nine months ended September 30, 2025 was $4.11 million compared to a loss from operations of $3.40 million for the same period in 2024, an increase of $0.71 million, due to decreased gross profit from our Services segment and an increase in operating expenses.
Revenues
Revenues for the quarter ended September 30, 2025 were $7.18 million compared to $5.63 million for the same period in 2024, a 27.6% increase.
Products revenues in the quarter ended September 30, 2025 were $2.98 million compared to $1.39 million for the same period in 2024, an increase of 114.5%. The increase in revenue during the quarter ended September 30, 2025 is due to increased sales of chillers, cogeneration products, and engineered accessories, which included deliveries of our hybrid-drive air-cooled chiller.
Services revenues in the quarter ended September 30, 2025 were $3.94 million, compared to $3.85 million for the same period in 2024, an increase of 2.4% due to increased revenues from existing service contracts.
Energy Production revenues in the quarter ended September 30, 2025 were $0.26 million compared to $0.39 million for the same period in 2024, a decrease of 34.2%. The decrease in Energy Production revenue is due to contract expirations at certain energy production sites in late 2024 and the temporary shutdown of a few energy production sites for repairs.
Revenues for the nine months ended September 30, 2025 were $21.76 million compared to $16.54 million for the same period in 2024, a 31.5% increase.
Products revenues in the nine months ended September 30, 2025 were $8.67 million compared to $3.00 million for the same period in 2024, an increase of 188.9%. The increase in revenue during the nine months ended September 30, 2025 is due to increased sales of chillers, cogeneration products, and engineered accessories, which included the initial deliveries of our hybrid-drive air-cooled chiller.
Services revenues in the nine months ended September 30, 2025 were $12.15 million, compared to $11.99 million for the same period in 2024, an increase of 1.4% due to increased revenues from existing contracts, offset by decreased revenues from the acquired Aegis maintenance contracts.
Energy Production revenues in the nine months ended September 30, 2025 were $0.93 million compared to $1.55 million for the same period in 2024, a decrease of 40.1%. The decrease in Energy Production revenues is due to contract expirations at certain energy production sites in late 2024 and the temporary shutdown of a few energy production sites for repairs.
Gross Profit
Gross profit for the quarter ended September 30, 2025 was $2.18 million compared to $2.48 million in the same period in 2024. Gross margin decreased to 30.4% in the quarter ended September 30, 2025 compared to 44.1% for the same period in 2024. The decrease in gross margin was due to higher material and labor costs in our Services segment in the quarter ended September 30, 2025.
Gross profit for the nine months ended September 30, 2025 was $7.87 million compared to $7.14 million in the same period in 2024. Gross margin decreased to 36.2% in the nine months ended September 30, 2025 compared to 43.1% for the same period in 2024. The decrease in gross margin was due to higher material and labor costs in our Services segment in the nine months ended September 30, 2025.
Operating Expenses
Operating expenses increased $0.93 million, or 27.7%, to $4.28 million in the quarter ended September 30, 2025 compared to $3.35 million in the same period in 2024, due to increased payroll, benefits, recruitment costs, and sales commissions.
Operating expenses increased $1.44 million, or 13.7%, to $11.97 million in the nine months ended September 30, 2025 compared to $10.53 million in the same period in 2024, due to increased payroll, benefits, recruitment costs and sales commissions.
Adjusted EBITDA
Adjusted EBITDA was negative $1.77 million for the quarter ended September 30, 2025 compared to negative $0.75 million for the quarter ended September 30, 2024. For the nine months ended September 30, 2025, adjusted EBITDA was a negative $3.31 million compared to negative $2.94 million for the nine months ended September 30, 2024. (Adjusted EBITDA is defined as net income or loss attributable to Tecogen, adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges or gains including abandonment of intangible assets and asset impairment. See the table following the Condensed Consolidated Statements of Operations for a reconciliation from net income (loss) to Adjusted EBITDA, as well as important disclosures about the Company’s use of Adjusted EBITDA).
Conference Call Scheduled for November 13, 2025, at 9:30 am ET
Tecogen will host a conference call on November 13, 2025 to discuss the third quarter results beginning at 9:30 am eastern time. To listen to the call please dial (877) 407-7186 within the U.S. and Canada, or +1 (201) 689-8052 from other international locations. Participants should ask to be joined to the Tecogen Third Quarter conference call. Please begin dialing 10 minutes before the scheduled starting time. The earnings press release will be available on the Company website at www.Tecogen.com in the “News and Events” section under “About Us.” The earnings conference call will be webcast live. To view the associated slides, register for and listen to the webcast, go to https://ir.tecogen.com/ir-calendar. Following the call, the recording will be archived for 14 days.
The earnings conference call will be recorded and available for playback one hour after the end of the call. To listen to the playback, dial (877) 660-6853 within the U.S. and Canada, or (201) 612-7415 from other international locations and use Conference Call ID#: 13752231.
About Tecogen
Tecogen Inc. designs, manufactures, sells, installs, and maintains high efficiency, ultra-clean, cogeneration products including engine-driven combined heat and power, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational and industrial use. The company provides cost effective, environmentally friendly and reliable products for energy production that nearly eliminate criteria pollutants and significantly reduce a customer’s carbon footprint. In business for over 35 years, Tecogen has shipped more than 3,200 units, supported by an established network of engineering, sales, and service personnel in key markets in North America. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.
Forward Looking Statements
This press release contains “forward-looking statements” which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures, that may include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “target,” “potential,” “will,” “should,” “could,” “likely,” or “may” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements except as required under the securities laws.
In addition to those factors described in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in our Current reports on Form 8-K, under “Risk Factors,” and elsewhere therein, among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates, and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations, the impact of tariffs, and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth.
In addition to GAAP financial measures, this press release includes certain non-GAAP financial measures, including adjusted EBITDA which excludes certain expenses as described in the presentation. We use Adjusted EBITDA as an internal measure of business operating performance and believe that the presentation of non-GAAP financial measures provides a meaningful perspective of the underlying operating performance of our current business and enables investors to better understand and evaluate our historical and prospective operating performance by eliminating items that vary from period to period without correlation to our core operating performance and highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures.
Tecogen Media & Investor Relations Contact Information:
TECOGEN INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
September 30, 2025
December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents
$
15,253,975
$
5,405,233
Accounts receivable, net
6,220,441
6,026,545
Unbilled revenue
126,738
398,898
Inventories, net
9,558,084
9,634,005
Prepaid and other current assets
918,835
680,565
Total current assets
32,078,073
22,145,246
Long-term assets:
Property, plant and equipment, net
1,788,248
1,738,036
Right-of-use assets – operating leases
1,610,839
1,730,358
Right-of-use assets – finance leases
1,305,353
452,390
Intangible assets, net
2,236,151
2,513,189
Goodwill
2,346,566
2,346,566
Other assets
99,058
166,474
TOTAL ASSETS
$
41,464,288
$
31,092,259
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Related party notes, current portion
$
–
$
1,548,872
Accounts payable
3,417,293
4,142,678
Accrued expenses
2,987,784
2,890,886
Deferred revenue, current portion
3,693,732
6,701,131
Operating lease liabilities, current portion
534,397
430,382
Finance lease liabilities, current portion
252,406
85,646
Acquisition liabilities, current portion
861,479
902,552
Unfavorable contract liability, current portion
73,368
113,449
Total current liabilities
11,820,459
16,815,596
Long-term liabilities:
Deferred revenue, net of current portion
1,189,074
1,165,951
Operating lease liabilities, net of current portion
1,126,695
1,341,789
Finance lease liabilities, net of current portion
934,109
325,235
Acquisition liabilities, net of current portion
816,951
1,008,760
Unfavorable contract liability, net of current portion
259,619
309,390
Total liabilities
16,146,907
20,966,721
Commitments and contingencies
Stockholders’ equity:
Tecogen Inc. stockholders’ equity:
Common stock, $0.001 par value; 100,000,000 shares authorized; 29,818,979 issued and outstanding at September 30, 2025 and 24,950,261 shares issued and outstanding at December 31, 2024
29,819
24,950
Additional paid-in capital
78,090,221
57,845,289
Unearned compensation
(762,292
)
–
Accumulated deficit
(51,894,868
)
(47,639,894
)
Total Tecogen Inc. stockholders’ equity
25,462,880
10,230,345
Non-controlling interest
(145,499
)
(104,807
)
Total stockholders’ equity
25,317,381
10,125,538
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$
41,464,288
$
31,092,259
TECOGEN INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
Three Months Ended
September 30, 2025
September 30, 2024
Revenues
Products
$
2,983,795
$
1,391,016
Services
3,943,510
3,850,551
Energy production
255,816
388,563
Total revenues
7,183,121
5,630,130
Cost of sales
Products
1,885,377
797,209
Services
2,946,438
2,139,042
Energy production
167,740
212,965
Total cost of sales
4,999,555
3,149,216
Gross profit
2,183,566
2,480,914
Operating expenses:
General and administrative
3,411,762
2,681,558
Selling
572,869
442,812
Research and development
297,926
233,809
(Gain) loss on disposition of assets
1,713
(4,042
)
Total operating expenses
4,284,270
3,354,137
Loss from operations
(2,100,704
)
(873,223
)
Other income (expense)
Other income (expense), net
81,925
(18,453
)
Interest expense
(41,113
)
(23,003
)
Unrealized gain (loss) on investment securities
(56,246
)
18,749
Total other income (expense), net
(15,434
)
(22,707
)
Loss before provision for state income taxes
(2,116,138
)
(895,930
)
Provision for state income taxes
2,928
–
Consolidated net loss
(2,119,066
)
(895,930
)
(Income) loss attributable to the non-controlling interest
(11,881
)
(34,478
)
Loss attributable to Tecogen Inc.
$
(2,130,947
)
$
(930,408
)
Net loss per share – basic
$
(0.07
)
$
(0.04
)
Weighted average shares outstanding – basic
28,817,040
24,850,261
Net loss per share – diluted
$
(0.07
)
$
(0.04
)
Weighted average shares outstanding – diluted
28,817,040
24,850,261
Three Months Ended
September 30, 2025
September 30, 2024
Non-GAAP financial disclosure (1)
Net loss attributable to Tecogen Inc.
$
(2,130,947
)
$
(930,408
)
Interest expense, net
(51,479
)
23,003
Income taxes
2,928
–
Depreciation & amortization, net
230,149
138,246
EBITDA
(1,949,349
)
(769,159
)
Stock based compensation
126,419
41,908
Unrealized loss (gain) on investment securities
56,246
(18,749
)
Adjusted EBITDA
$
(1,766,684
)
$
(746,000
)
(1) Non-GAAP Financial Measures
In addition to reporting net income, a U.S. generally accepted accounting principle (“GAAP”) measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies.
TECOGEN INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
Nine Months Ended
September 30, 2025
September 30, 2024
Revenues
Products
$
8,672,927
$
3,002,087
Services
12,153,700
11,991,378
Energy production
929,085
1,550,549
Total revenues
21,755,712
16,544,014
Cost of sales
Products
5,605,282
2,018,734
Services
7,675,073
6,423,114
Energy production
608,258
966,440
Total cost of sales
13,888,613
9,408,288
Gross profit
7,867,099
7,135,726
Operating expenses:
General and administrative
9,431,073
8,428,119
Selling
1,682,085
1,377,758
Research and development
859,318
734,994
(Gain) loss on disposition of assets
1,433
(8,070
)
Total operating expenses
11,973,909
10,532,801
Loss from operations
(4,106,810
)
(3,397,075
)
Other income (expense)
Other income (expense), net
61,302
(15,305
)
Interest expense
(111,592
)
(59,542
)
Unrealized loss on investment securities
(74,995
)
–
Total other income (expense), net
(125,285
)
(74,847
)
Loss before provision for state income taxes
(4,232,095
)
(3,471,922
)
Provision for state income taxes
20,615
22,100
Consolidated net loss
(4,252,710
)
(3,494,022
)
(Income) loss attributable to non-controlling interest
(2,264
)
(80,149
)
Net loss attributable to Tecogen Inc.
$
(4,254,974
)
$
(3,574,171
)
Net loss per share – basic
$
(0.16
)
$
(0.14
)
Weighted average shares outstanding – basic
26,354,875
24,850,261
Net loss per share – diluted
$
(0.16
)
$
(0.14
)
Weighted average shares outstanding – diluted
26,354,875
24,850,261
Nine Months Ended
September 30, 2025
September 30, 2024
Non-GAAP financial disclosure (1)
Net loss attributable to Tecogen Inc.
$
(4,254,974
)
$
(3,574,171
)
Interest expense, net
19,000
59,542
Income taxes
20,615
22,100
Depreciation & amortization, net
621,530
419,744
EBITDA
(3,593,829
)
(3,072,785
)
Stock based compensation
209,858
131,906
Unrealized loss on marketable securities
74,995
–
Adjusted EBITDA
$
(3,308,976
)
$
(2,940,879
)
(1) Non-GAAP Financial Measures
In addition to reporting net income, a U.S. generally accepted accounting principle (“GAAP”) measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies.
TECOGEN INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
Nine Months Ended
September 30, 2025
September 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net loss
$
(4,252,710
)
$
(3,494,022
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
621,530
419,744
Provision for (recovery of) credit losses
(50,883
)
29,817
Stock-based compensation
209,858
131,906
Unrealized loss on investment securities
74,995
–
(Gain) loss on disposition of assets
1,433
(8,070
)
Non-cash interest expense
43,476
25,966
Changes in operating assets and liabilities
(Increase) decrease in:
Accounts receivable
(143,013
)
1,303,300
Inventory
75,921
658,194
Unbilled revenue
272,160
119,000
Prepaid assets and other current assets
(238,270
)
(42,578
)
Other assets
330,804
704,565
Increase (decrease) in:
Accounts payable
(725,386
)
323,980
Accrued expenses and other current liabilities
96,898
133,599
Deferred revenue
(2,984,276
)
581,485
Other liabilities
(668,956
)
(1,003,881
)
Net cash used in operating activities
(7,336,419
)
(116,995
)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment
(353,296
)
(838,932
)
Proceeds from disposition of assets
1,280
40,255
Distributions to non-controlling interest
(42,956
)
(96,975
)
Net cash used in investing activities
(394,972
)
(895,652
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from follow on offering, net of transaction costs
18,105,100
–
Proceeds from related party notes payable
–
1,000,000
Related-party note repayment
(1,076,956
)
–
Finance lease principal payments
(106,414
)
(56,385
)
Proceeds from the exercise of stock options
658,403
–
Net cash provided by financing activities
17,580,133
943,615
Net increase (decrease) in cash and cash equivalents
9,848,742
(69,032
)
Cash and cash equivalents, beginning of the period
5,405,233
1,351,270
Cash and cash equivalents, end of the period
$
15,253,975
$
1,282,238
Supplemental disclosure of cash flow information:
Cash paid for interest
$
145,072
$
22,909
Cash paid for taxes
$
20,615
$
22,100
Non-cash investing activities
Right-of-use assets acquired under operating leases
San Diego, CA November 12, 2025 –(PR.com)– Food pantries on local community college campuses are about to get a big boost just on time for the upcoming holidays, and to help make up for expected federal food aid cutbacks. The 7th annual Pack the Pantry virtual food drive raised $16,819 in the month of October, which will provide more than 33,000 meals to local community college students facing food insecurity.
The annual food drive is organized by California Coast Credit Union in partnership with the Jacobs & Cushman San Diego Food Bank and local community colleges in San Diego and Imperial counties. According to recent research, nearly 50 percent of local community college students face food insecurity, meaning they don’t have consistent access to food.
Demand at the food pantries typically increases as the holidays approach. Local community colleges have also been bracing for planned cuts to federal food assistance programs.
“The Pack the Pantry food drive demonstrates what happens when our community truly comes together to uplift students,” said Dr. Mark Sanchez, Superintendent/President of Southwestern Community College and Chair of SDICCCA. “This support strengthens the vital resources our colleges provide and reinforces to our students that they are not alone. We are grateful for partners like California Coast Credit Union and the San Diego Food Bank whose commitment helps ensure our students feel seen, valued, and supported—especially during this time of year.”
“The success of this year’s Pack the Pantry drive is a testament to the compassion and generosity of our community;” said Kyra Seay, Cal Coast Vice President of Community Relations. “With rising education costs, reductions in federal food aid looming, and the holidays approaching, it’s more important than ever to support our students. We’re proud to stand with our local community colleges and the San Diego Food Bank to ensure students have the nourishment they need to thrive in the classroom and beyond.”
The San Diego Food Bank will coordinate the distribution of food to the local campus pantries.
“Food insecurity is one of the biggest barriers to student success, and no one should have to choose between buying textbooks and buying groceries,” said Casey Castillo, CEO, Jacobs & Cushman San Diego Food Bank. “Thanks to the incredible generosity of our community and partners like California Coast Credit Union, thousands of local college students will have access to nutritious meals during the holidays and beyond. Together, we’re ensuring that students can focus on their education without worrying about where their next meal will come from.”
You can continue helping stock food pantries throughout the community by donating to the San Diego Food Bank at: www.sdfoodbank.org.
About California Coast Credit Union
Established by San Diego teachers in 1929, California Coast Credit Union is the longest-serving financial institution based in San Diego County. With more than $3 billion in assets, the credit union serves nearly 200,000 members through its local network of 26 branches, and 30,000 fee-free ATMs nationwide. California Coast is not-for-profit, provides no-cost financial education for adults and youth, and is committed to improving the lives of its members and others in the community. Anyone who lives or works in San Diego or Riverside county can be a member. For more information, visit https://www.calcoastcu.org or call (877) 495-1600.
About the Jacobs & Cushman San Diego Food Bank
Founded in 1977, the Jacobs & Cushman San Diego Food Bank is the largest hunger-relief organization in San Diego County. Serving as the region’s food safety net, the organization provides food to people in need, advocates for the hungry and educates the public about hunger-related issues. Through a network of direct service programs and more than 450 nonprofit partners, the Food Bank serves an average of 400,000 people every month. In fiscal year 2025, the organization distributed over 52 million pounds of food – equivalent to more than 43.3 million meals. Learn more at sandiegofoodbank.org and follow us @sdfoodbank.
About SDICCCA
The San Diego & Imperial Counties Community College Association (SDICCCA) represents six community college districts: Southwestern, San Diego, Grossmont-Cuyamaca, Palomar, MiraCosta, and Imperial Valley. Together, these colleges serve more than 206,000 students and provide the workforce backbone of the region’s $250 billion economy.
Contact Information:
California Coast Credit Union
Robert Scheid
858-636-5132 Contact via Email
www.calcoastcu.org
Los Angeles, CA November 11, 2025 –(PR.com)– This Veterans Day, the nation honors more than 16 million men and women who have served in the U.S. Armed Forces. While many return with visible scars, countless others carry invisible wounds—mental, emotional and moral. One such example reports that veterans are at 57% higher risk of suicide than those who haven’t served, according to a Cohen Veterans Bioscience report.
The transition to civilian life can be as challenging as combat. A U.S. Department of Veterans Affairs study shows 29% of veterans who served during the War in Afghanistan and the Iraq War experience severe post-war stress. Moral injury—the distress from actions taken or witnessed during combat—can leave veterans feeling isolated and uncertain how to cope.
Los Angeles resident and U.S. Navy veteran Alan Klein, experienced these pressures firsthand. While deployed on the USS Chancellorsville during Operation Desert Storm in 1990, Klein suffered a back injury in a collision at sea. In years following his service, he was haunted by severe anxiety and panic attacks. “It held me back,” Klein recalls, “I avoided activities I enjoyed because I was afraid of re-injury. For 35 years, I didn’t get a good night’s sleep.”
That changed after Klein read the book, Dianetics: The Modern Science of Mental Health by L. Ron Hubbard and received Dianetics therapy. “Through Dianetics, I realized my anxiety was holding me back—making me believe that I couldn’t do physical activities, such as skiing or golfing, because of my injury,” Klein recalls. “But Dianetics eliminated that fear. The anxiety is gone and I no longer have any mental restraint.” He credits the book with helping him overcome the lingering effects of both combat stress and post-service anxiety, restoring his confidence and quality of life.
The challenges veterans face extend far beyond combat. Adjusting to civilian life can involve chronic pain, addiction and loss of purpose as (Ret.) U.S. Army helicopter pilot Ron DuBois recalls.
After 24 years of service during the Persian Gulf War and Iraq War, DuBois faced the challenge of reintegrating into civilian life. “I was physically and mentally broken; I was highly medicated and drinking to deal with the physical pain,” DuBois recalls. “But when I found and read Dianetics, it had an immediate impact on me. I became more self-aware and changed how I reacted to and dealt with people. I got off the medication and quit the alcohol.” Discovering Dianetics was pivotal for DuBois, who now leads a successful life as a licensed financial representative, “I was not on a good trajectory and Dianetics not only improved the quality of my life but extended it as well.”
For some, unresolved grief and trauma from lost comrades or harrowing experiences linger after deployment.
Following five years of service in the Air Force during the Vietnam War, Sergeant Richard Graf carried a heavy mental burden from the loss of several close friends. “I had a cloud hanging over me and I didn’t know how much it affected me,” Graf recalls, “I had no confidence; I was just a leaf blown in the wind.” Graf tried yoga, Buddhism and spiritualism before discovering Dianetics, “I read the book in a week and then started Dianetics therapy. Everything I wanted to resolve was handled for me—I became confident and certain—and the cloud of loss went away.”
This Veterans Day, we pay tribute to all who served our country and recognize that veterans across all eras and service branches face intense post-service stress. As these stories show, Dianetics is a practical tool that can help overcome the invisible wounds of war and build meaningful, fulfilling lives.
Bridge Publications, based in Los Angeles, publishes the nonfiction works of L. Ron Hubbard. Dianetics: The Modern Science of Mental Health is the all-time bestselling book on the human mind. For more information, visit www.dianetics.org.
