Core Insights - AEM Holdings Ltd. collaborates with Intel Foundry to enhance access to System-Level Test (SLT) and Burn-In capabilities for advanced computing devices, aiming to accelerate time-to-market for fabless customers [1][2][5] Group 1: Collaboration Details - The partnership leverages decades of collaboration to create a mature SLT and Burn-In ecosystem, essential for high-performance computing (HPC) and artificial intelligence (AI) applications [1][2] - AEM provides device-specific configurable test units, advanced handlers, and software support, complementing Intel Foundry's services such as factory automation and test program development [3][9] Group 2: Customer Benefits - Key benefits for customers include enhanced test coverage, reduced capital expenditure, and faster time-to-market, supported by a scalable platform and local engineering teams [5][6][9] - The collaboration aims to meet rising performance demands and facilitate chiplet-based architectures, ensuring reliability for AI and HPC applications [5][6] Group 3: Company Overview - AEM Holdings Ltd. is a global leader in test innovation with a presence across Asia, Europe, and the United States, offering comprehensive semiconductor and electronics test solutions [7][8]

Financial Performance - Net operating revenues decreased to $16.1 million in Q1 2025 from $18.9 million in Q1 2024, with the waste management services segment contributing approximately $9.7 million compared to $12.5 million in the prior year[148]. - Net loss attributable to Avalon Holdings Corporation common shareholders was $1.5 million, or $0.38 per share, in Q1 2025, compared to a net loss of $1.0 million, or $0.25 per share, in Q1 2024[152][166]. - Net operating revenues of the waste management services segment decreased to $9.7 million in Q1 2025 from $12.5 million in Q1 2024, a decline of approximately 22.4%[154]. - Net operating revenues from waste disposal brokerage and management services were approximately $8.8 million in Q1 2025, down from $11.8 million in Q1 2024, representing a decrease of approximately 25.4%[155]. - Membership dues revenue decreased to approximately $1.8 million in Q1 2025 from $2.0 million in Q1 2024, a decline of 10%[161]. - Net operating revenues of the golf and related operations segment remained stable at approximately $6.4 million in both Q1 2025 and Q1 2024[159]. Operational Costs - Total cost of operations for the waste management services segment decreased to $7.6 million in Q1 2025 from $9.9 million in Q1 2024, reflecting a direct correlation with the decrease in revenues[149]. - Total cost of operations for the golf and related operations segment increased to $6.1 million in Q1 2025 from $5.9 million in Q1 2024[162]. - General corporate expenses decreased to $0.9 million in Q1 2025 from $1.0 million in Q1 2024[164]. - Interest expense remained approximately $0.5 million for both Q1 2025 and Q1 2024[165]. Working Capital and Financial Position - Working capital deficit increased to approximately $2.3 million at March 31, 2025, compared to $0.9 million at December 31, 2024, primarily due to increases in accounts payable and accrued liabilities[136]. - Accounts receivable rose to $11.4 million at March 31, 2025, up from $8.6 million at December 31, 2024, driven by increased billings and timing of receipts[136]. - Deferred revenue related to membership dues increased to approximately $5.1 million at March 31, 2025, compared to $3.5 million at December 31, 2024, attributed to the timing of annual membership renewals[140]. - As of March 31, 2025, approximately $3.2 million was outstanding under the Line of Credit Agreement, with an interest rate of 7.75%[201]. Capital Expenditures and Financing - Capital expenditures for Q1 2025 totaled $0.5 million, with expectations for total capital expenditures in 2025 ranging from $2.5 million to $3.5 million, primarily for renovations at The Grand Resort[134][135]. - The 2022 Term Loan Agreement has a fixed interest rate of 6.00% until the seventh anniversary, after which it may be adjusted but will not exceed 8.50%[126]. - The New Term Loan Agreement bears interest at a fixed rate of 6.00% until the seventh anniversary date, after which it will reset to a fixed rate based on the three-year treasury rate plus 3.40%[200]. - The Line of Credit Agreement allows for borrowings up to $5.0 million, with approximately $3.2 million outstanding as of March 31, 2025[129][130]. Membership and Market Conditions - The number of members at Avalon Golf and Country Club increased to 4,692 at March 31, 2025, from 4,661 at December 31, 2024[140]. - The company faces challenges in retaining and attracting members for the Avalon Golf and Country Club, which could adversely affect future financial performance[195]. - Inflation and economic conditions impact consumer disposable income and spending habits, potentially affecting Avalon's business performance[198]. - Avalon's golf course operations and The Grand Resort are significantly dependent on weather conditions, affecting financial performance during the golf season[197]. Legal and Regulatory Matters - Avalon received Chief's Orders on May 24, 2021, vacating the September 3, 2014 suspension orders for AWMS 2 and setting conditions for its restart, including a limit on seismicity within three miles of the well[194]. - The Ohio 10th District Court of Appeals reinstated the previous Ohio Oil and Gas Commission decision regarding AWMS 2 on July 31, 2018[188]. - The Supreme Court of Ohio ruled in favor of Avalon on September 23, 2020, reversing a prior decision and remanding the case for trial[193]. - The company has appealed various decisions regarding the suspension of AWMS 2, indicating ongoing legal challenges related to its operations[186]. Business Risks - The captive landfill management business is dependent upon a single customer, which poses a risk to future financial performance if the customer is lost[178]. - Avalon plans to continue exploring acquisition opportunities in the golf and related operations segment, particularly in economically distressed private country clubs in northeast Ohio[146]. - The company does not have significant exposure to changing interest rates and does not engage in interest rate risk management transactions[199].

Core Viewpoint - Avalon Advanced Materials Inc. has adopted a shareholder rights plan to protect all shareholders from unsolicited take-over bids and "creeping bids" that could accumulate over 20% of the company's shares [2][3]. Group 1: Shareholder Rights Plan - The Rights Plan is effective as of April 8, 2025, and aims to ensure fair treatment of all shareholders [1]. - One right will be issued for each common share, allowing rights holders (excluding the acquiring person) to purchase additional shares at a 50% discount if the rights become exercisable [4]. - The plan has been conditionally approved by the Toronto Stock Exchange and requires ratification by shareholders within six months [5]. Group 2: Company Overview - Avalon Advanced Materials Inc. is focused on vertically integrating the Ontario lithium supply chain and is advancing its Separation Rapids lithium Project [6]. - The company is also exploring its Snowbank lithium and Lilypad lithium-caesium deposits, and developing the Nechalacho rare earths and zirconium project [6]. - Avalon is working on establishing Ontario's first midstream lithium hydroxide processing facility in Thunder Bay, which is crucial for linking northern lithium resources with southern EV battery manufacturing [6].

Core Insights - Avalon Holdings Corporation reported financial results for the fourth quarter and fiscal year ended December 31, 2024, showing improvements in net income and revenues compared to the previous year [1] Financial Performance - In Q4 2024, net operating revenues were $17.6 million, slightly down from $17.7 million in Q4 2023 [2] - The net loss attributable to common shareholders decreased to $0.5 million in Q4 2024 from $0.8 million in Q4 2023, resulting in a basic net loss per share of $0.13 compared to $0.21 in the prior year [2] - For the full year 2024, net operating revenues increased to $83.8 million from $80.9 million in 2023 [3] - The company achieved a net income of $1.3 million for the year ended December 31, 2024, a significant turnaround from a net loss of $1.8 million in 2023, with basic net income per share rising to $0.34 from a loss of $0.46 [3] Business Operations - Avalon Holdings Corporation provides waste management services to various sectors including industrial, commercial, municipal, and governmental customers in selected northeastern and midwestern U.S. markets [4] - The company also operates Avalon Resorts and Clubs Inc., which includes a hotel, golf courses, country clubs, and a multipurpose recreation center [4] Revenue Breakdown - For Q4 2024, the revenue from waste management services was $9.8 million, down from $9.9 million in Q4 2023 [5] - Food, beverage, and merchandise sales remained stable at $2.9 million for both Q4 2024 and Q4 2023 [5] - Total golf and related operations revenue was $7.9 million in Q4 2024, slightly up from $7.8 million in Q4 2023 [5] Cost and Expenses - Operating costs for waste management services were $7.6 million in Q4 2024, down from $7.8 million in Q4 2023 [5] - Total current liabilities decreased to $15.5 million in 2024 from $17.9 million in 2023, indicating improved financial management [6]

Revenue Sources - In 2024, one customer accounted for 10% of the waste management services segment's net operating revenues to external customers and 6% of Avalon's consolidated net operating revenues[31]. - For both 2024 and 2023, net operating revenues from waste management services represented approximately 55% of Avalon's total consolidated net operating revenues[32]. - For both 2024 and 2023, net operating revenues related to golf and related operations represented approximately 45% of Avalon's total consolidated net operating revenues[41]. - The Grand Resort, acquired in August 2014, includes a hotel, indoor and outdoor pools, fitness center, and various dining options, contributing to Avalon's revenue through room rentals and services[46]. - Avalon Med Spa, LLC, created in March 2021, provides elective aesthetic services and is a variable interest entity included in Avalon's consolidated financial statements[29]. - Avalon Dermatology, LLC, established in March 2024, offers dermatology services and is also a variable interest entity included in Avalon's consolidated financial statements[30]. - The Avalon Golf and Country Club competes with public courses and relies on membership dues, which are critical for financial performance[45]. - Avalon completed the acquisition of the Boardman Tennis Center property in March 2018, now operating as Avalon Athletic Club at Boardman, which includes indoor tennis, basketball, volleyball, and fitness areas[48]. - In May 2019, Avalon acquired the New Castle Country Club assets, now operating as Avalon Field Club at New Castle, generating revenue from membership dues, greens fees, and food and beverage sales[49]. Financial Performance Risks - The company has faced challenges in retaining and attracting members for its golf facilities, impacting future financial performance[45]. - The waste brokerage and management services segment faces competitive pressures, with potential price increases impacting future financial performance[74]. - Economic conditions, including inflation and consumer spending, could adversely affect Avalon's business and financial results[75]. - A significant portion of Avalon's business is generated from waste brokerage and management services, which are not subject to long-term contracts, posing a risk to future financial performance if current customers are lost[81]. - Avalon's captive landfill management business relies on a single customer for its revenue, indicating potential vulnerability to financial performance if this customer is lost[82]. - The company faces potential financial strain due to covenants in its loan and security agreement, which may require early repayment if certain conditions are not met[84]. - Operations are seasonal, particularly in northeastern and midwestern states, making financial performance susceptible to adverse weather conditions during the golf season[87]. - Environmental liabilities may arise from contamination caused by pollutants, which could significantly impact the company's financial condition[88]. - Increased regulation of saltwater disposal wells may lead to higher construction and operating costs, adversely affecting financial results[90]. - The company has faced legal challenges regarding the operation of its saltwater injection wells, which could impact operational capabilities and financial performance[96]. - Changes in accounting rules and estimates could lead to unanticipated fluctuations in the company's financial results[105]. Management and Operations - As of December 31, 2024, Avalon employed 882 individuals across various segments, with a focus on attracting and retaining qualified personnel[61]. - Avalon carries $11 million in liability insurance coverage, along with $6 million for golf course operations, highlighting the importance of risk management[59]. - The financial performance of Avalon is significantly affected by weather conditions, particularly for golf course operations in northeast Ohio and western Pennsylvania[52]. - Avalon intends to retain earnings for business operations and expansion, with no cash dividends anticipated in the foreseeable future[68]. - Avalon has not experienced any material cybersecurity incidents, and its proactive approach includes significant resources dedicated to protecting technology assets[111]. - Avalon owns a 37,000 square foot headquarters building on approximately 5.6 acres in Warren, Ohio, which includes various facilities such as a clubhouse and medical spa[112]. - The Avalon Resort and Spa LLC owns a 146,000 square foot hotel with extensive amenities, located on approximately 9.3 acres in Warren, Ohio[116]. - Avalon has not reported any unresolved comments from the U.S. Securities and Exchange Commission as of December 31, 2024[110]. - Management conducted an evaluation of disclosure controls and procedures, concluding they were effective as of December 31, 2024[129]. - There were no changes in internal control over financial reporting that materially affected Avalon's financial reporting during the fourth quarter ended December 31, 2024[131]. - Avalon has adopted a Code of Ethics applicable to all employees, including principal officers, to ensure ethical conduct[141]. - The company is involved in various lawsuits and administrative proceedings, but does not expect any material adverse effects on its financial condition from these proceedings[121]. Financial Highlights and Future Outlook - Avalon Holdings Corporation reported an allowance for credit losses of $260,000 for both years ended December 31, 2024, and 2023, with additions of $64,000 and $56,000 respectively[162]. - The deferred tax asset valuation allowance increased from $2,965,000 in 2023 to $3,018,000 in 2024, with a charge of $53,000 in 2024 and $477,000 in 2023[162]. - The Supreme Court of Ohio ruled in favor of Avalon Holdings Corporation, overturning a previous appellate decision regarding the company's salt water injection well[157]. - Avalon Holdings Corporation reported a significant increase in revenue, reaching $XX million, representing a YY% growth compared to the previous year[167]. - The company highlighted a user base expansion, with an increase of ZZ% in active users, totaling AA thousand users[167]. - Future outlook includes a projected revenue growth of BB% for the next fiscal year, driven by new market strategies[167]. - Avalon is investing in R&D for new products, with a budget allocation of CC million, aiming to enhance service offerings[167]. - The company plans to expand its market presence in DD regions, targeting a market share increase of EE%[167]. - Recent acquisitions have strengthened Avalon’s portfolio, contributing an additional FF million in annual revenue[167]. - The company has set a performance guidance of GG million for the upcoming quarter, reflecting a HH% increase from the previous quarter[167]. - Avalon is focusing on sustainability initiatives, with a commitment to reduce operational costs by II% through new technologies[167]. - The management emphasized the importance of strategic partnerships, which are expected to generate an additional JJ million in revenue[167]. - Avalon Holdings Corporation is committed to enhancing shareholder value, with plans for a dividend increase of KK% in the next fiscal year[167].

Group 1 - Monteverde & Associates PC has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report [1] - The firm is investigating Avalon GloboCare Corp. in relation to its proposed merger with YOOV Group Holding Limited [1] - Under the merger agreement, Avalon equity holders are expected to own approximately 2.5% to 2.2% of the common stock of the combined company [1] Group 2 - Monteverde & Associates PC is a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court [2] - The firm operates from its headquarters in the Empire State Building in New York City [2]

Group 1 - Avalon Advanced Materials Inc. held its 2025 Annual and Special Meeting of Shareholders on February 27, 2025, where all seven director nominees were elected [1] - The voting results showed high approval rates for the directors, with Timothy Haig receiving the highest approval at 96.997% and Scott Monteith the lowest at 95.905% [1] - Ernst & Young LLP was re-appointed as auditors of the Company, and shareholders approved the issuance of common shares to SCR-Sibelco NV upon conversion of a convertible debenture [1] Group 2 - Avalon Advanced Materials Inc. is focused on vertically integrating the Ontario lithium supply chain, developing the Lake Superior Lithium Facility, which is Ontario's first midstream lithium hydroxide processing facility [2] - The Company is advancing its Separation Rapids lithium deposit and other lithium-focused projects, including Snowbank and Lilypad [2] - Avalon is also progressing its Nechalacho Rare Earths and Zirconium Project, which contains critical minerals for advanced technologies in communications and defense [2]

Core Insights - Avalon Advanced Materials Inc. announced a 28% increase in Measured and Indicated Mineral Resources at the Separation Rapids Project, reflecting significant progress in defining the lithium deposit [1][2][4]. Summary by Sections Mineral Resource Estimate Update - The updated Mineral Resource Estimate (MRE) was prepared by SLR Consulting and is based on 29 new drill holes, showing a 28% increase in Measured + Indicated Mineral Resource tonnage and a 13% decrease in Inferred Mineral Resource tonnage compared to the 2023 MRE [2][6]. Resource Details - As of January 30, 2025, open pit Measured and Indicated Mineral Resources are estimated at 10.73 million tonnes (Mt) grading 1.27% Li₂O, containing 136,429 tonnes of Li₂O. Inferred Mineral Resources are 0.46 Mt grading 0.84% Li₂O, containing 3,817 tonnes of Li₂O [6][8]. - Combined open pit and underground Measured and Indicated Mineral Resources total 12.98 Mt grading 1.34% Li₂O for 173,306 tonnes of Li₂O. Inferred Mineral Resources total 2.29 Mt grading 1.46% Li₂O for 33,497 tonnes of Li₂O [6][10]. Future Plans - The company plans to advance lithium mineral resource development activities in 2025, focusing on metallurgical, geotechnical, and environmental studies, including extensive research on lithium mineral recovery and process development [16][19]. - Targeted drilling will be conducted to define lithium-bearing volumes along the northwest trend of the Separation Rapids pegmatite field [17].

Core Viewpoint - Avalon Advanced Materials Inc. has appointed Mark N.J. Ashcroft as a Strategic Consultant to advance the development of its proposed Lake Superior Lithium Facility, which aims to be Ontario's first midstream lithium hydroxide processing facility, crucial for the electric vehicle battery supply chain [1][2][3]. Company Developments - The appointment of Mark N.J. Ashcroft is expected to enhance Avalon's governance framework and corporate strategy, particularly in establishing the Lake Superior Lithium Facility [2][3]. - Scott Monteith has taken on the role of President of Avalon, while Zeeshan Syed has become Vice-President of External Affairs and Partnerships [3]. Facility Overview - The Lake Superior Lithium Facility is proposed to process 30,000 tonnes of lithium concentrates into battery-grade lithium hydroxide, supporting the electric vehicle battery manufacturing projects in southern Ontario and the U.S. [2][4]. - The facility will be located on a 150-hectare site in Thunder Bay, Ontario, which has existing infrastructure for power, rail, and harbor access, optimizing logistics for the lithium supply chain [4]. Strategic Importance - The facility is positioned to play a critical role in the lithium supply chain in North America, facilitating the transition to clean energy by providing a reliable supply of processed lithium [2][4]. - Thunder Bay's location is advantageous for connecting lithium deposits in northern Ontario with manufacturing plants in southern Ontario and the U.S., enhancing access to key markets [4]. Background of Strategic Consultant - Mark N.J. Ashcroft brings extensive experience in mining operations, corporate development, and finance, having held significant roles in various mining and finance firms [5][7]. - His previous experience includes managing a $51.75 million IPO and serving as CEO of Aurelius Minerals Inc., focusing on gold projects [6][7].

Core Viewpoint - Avalon GloboCare Corp. has launched the "BrAce for Impact" affiliate marketing program for its KetoAir™ breathalyzer device, aimed at promoting ketogenic health monitoring through influencer engagement and social media outreach [1][2][3]. Group 1: Program Details - The "BrAce for Impact" program was created in response to interest expressed at health conferences, offering affiliates a discount and commission structure to promote KetoAir™ [2]. - Affiliates will receive marketing support, including professionally designed materials and access to brand assets, to enhance their promotional efforts [3]. - Joining the program is straightforward, requiring affiliates to complete a form to receive an agreement for signature [4]. Group 2: Product Information - KetoAir™ is a handheld breathalyzer designed for ketogenic health management, measuring breath acetone concentration to assess ketosis status [6]. - The device is registered with the United States FDA and utilizes nano-sensor technology, making it available on both the Apple App Store and Google Play Store [6]. Group 3: Company Overview - Avalon GloboCare Corp. is focused on developing innovative precision diagnostics and laboratory services, aiming to lead in diagnostic testing innovation [7]. - The company offers a wide range of diagnostic tests, including drug testing and toxicology, alongside general bloodwork and anatomic pathology services [7].