Company Overview - Verde Agritech Ltd is an agricultural technology company focused on producing potash fertilizers, aiming to enhance the health of people and the planet [4] - The company operates fully integrated operations, mining and processing its feedstock from 100% owned mineral properties, and distributing its products internationally [4] - Verde is Brazil's largest potash producer by capacity, licensed to produce up to 2.8 million tonnes per year of multinutrient potassium fertilizers [4] Project Update - The company has issued a news release regarding the Man of War Project following a review by the Ontario Securities Commission, which includes an amended and restated National Instrument 43-101 Technical Report [1][2] - The updated Technical Report, effective December 18, 2024, has removed disclosures of geological resources and in-situ resources that do not have reasonable prospects for economic extraction [2] - The report is available on SEDAR+ under the company's profile [3] Mineral Resources - Verde has a combined measured and indicated mineral resource of 1.47 billion tonnes at 9.28% K2O and an inferred mineral resource of 1.85 billion tonnes at 8.60% K2O, totaling 295.70 million tonnes of potash in K2O [4] - In 2021, Brazil's total consumption of potash in K2O was 6.57 million tonnes, highlighting the significant demand for potash in the country [4] - Brazil ranks second in global potash demand and is the largest importer, relying on external sources for over 97% of its potash needs [4]

Core Viewpoint - Verde Agritech Ltd has successfully renegotiated its debt, securing extended payment terms and reduced interest rates, which enhances the company's liquidity and financial stability [1][16]. Group 1: Debt Renegotiation Details - The civil court has homologated Verde's Debt Renegotiation Agreement, which affects 92.2% of the total outstanding debt [1][2]. - Adherent creditors will benefit from a grace period of 18 months, during which all payments are suspended [5]. - The repayment term for the debt is set to 108 months, with a structured repayment plan that includes 10% repayment between months 19 and 54, 30% between months 55 and 90, and 60% between months 91 and 126 [5]. Group 2: Financial Terms - The principal amount will see a 75% reduction, equating to approximately R$7.0 million [5]. - Interest rates will be reduced to the Taxa Referencial (TR), currently around 0.81% per year, with interest accruing at CDI + 1.25% for the first three years, increasing to CDI + 2.5% thereafter [5]. - A symbolic monthly payment of R$100,000 will commence after six months [16]. Group 3: Company Overview - Verde Agritech is focused on sustainable agriculture through the innovation of specialty multi-nutrient potassium fertilizers, aiming to enhance agricultural productivity and soil health [3]. - The company utilizes proprietary technologies in Brazil to address global challenges such as food security and climate change [3].

Core Viewpoint - Verde Agritech Ltd and Nautica Holdings Limited have executed a Share Sale Agreement for the acquisition of high-grade magnetic rare earths exploration assets in Brazil, positioning Nautica as a significant player in the rare earths sector amid increasing global demand for critical minerals [1][2]. Transaction Overview - Nautica will acquire exploration assets from Verde's subsidiary, Oby Rare Earths Pty Ltd, which includes three primary targets with a maiden mineral resource estimate of 1.35 billion tons averaging 3,437 ppm Total Rare Earth Oxides (TREO) and 793 ppm Magnet Rare Earth Oxides (MREO) [6][7]. - The consideration for the assets involves the issuance of 2 billion shares in Nautica at $0.01 per share to Verde shareholders on the Record Date, resulting in a total of approximately 2.24 billion shares post-completion [6][7]. Strategic Rationale - The transaction aims to deliver long-term shareholder value for Verde's shareholders while aligning with Nautica's vision to secure rare earth minerals critical for technological advancements, including electric vehicles and renewable energy [8]. - Nautica's commitment of AUD $1 million for the project underscores confidence in the asset quality and potential economic value [10]. Strategic Next Steps - Following the acquisition, Nautica will prioritize preparations for an IPO on the Australian Securities Exchange (ASX) and evaluate alternative strategic options, including potential listings in New York or direct asset sales [9]. Leadership Structure and Corporate Governance - The leadership structure post-completion will include Cristiano Veloso as Managing Director of Nautica, with robust governance measures in place to address potential conflicts of interest [11][12].

Core Insights - Verde AgriTech Ltd reported significant financial challenges in FY 2024, with a 43% decrease in revenue to CAD 21.6 million and a net loss of CAD 12.6 million, compared to a net loss of CAD 6.0 million in FY 2023 [13][21][22] - The Brazilian agricultural sector faced severe liquidity issues, leading to increased insolvencies among farmers and suppliers, which impacted Verde's sales and operational strategies [2][9][12] - The company successfully renegotiated its debts, covering over 99.8% of its outstanding obligations, which is expected to strengthen its financial position moving forward [4][5][6] Financial Performance - In FY 2024, Verde's sales volume decreased by 25% to 319,000 tons, with average revenue per ton falling by 23% [13][20] - EBITDA before non-cash events was -CAD 2.5 million in FY 2024, compared to CAD 2.0 million in FY 2023, indicating a significant decline in operational profitability [13][21] - The average cost of debt for the company was 16.2% per annum, reflecting the high-interest environment in Brazil [11] Market Conditions - The Brazilian agricultural market is experiencing a "perfect storm" of economic and climatic challenges, leading to a historic number of insolvencies [2] - High interest rates, projected to rise to 15.00% by the end of 2025, have restricted farmers' access to credit, further complicating their financial situations [10] - Despite these challenges, there is optimism for H2 2025 due to improved commodity prices and better climatic conditions [3] Debt Restructuring - Verde renegotiated loans with its two largest creditors, resulting in a repayment term extension to 120 months and a suspension of principal payments for 18 months, generating projected cash savings of R$115 million [4] - An agreement with creditors representing over 92% of total debt is expected to lead to a 75% reduction in outstanding balances for non-adherent creditors [5] - The restructuring plan is pending court approval, but the company is confident in its imminent recognition [7] Environmental Impact - Verde's products have the potential to capture up to 231,376 tons of CO2 and prevent 66,405 tons of CO2 emissions since production began in 2018 [56] - The company emphasizes its commitment to sustainable agriculture and carbon capture through its innovative fertilizer solutions [45]

Financial Performance - Consolidated sales increased by $47.316 million (14%) in 2024 compared to 2023, with net earnings rising by $6.901 million (20%) to $41.460 million[120]. - Net sales for 2024 reached $388,228 thousand, a 13.9% increase from $340,912 thousand in 2023[206]. - Gross profit improved to $78,566 thousand in 2024, up 16.6% from $67,452 thousand in 2023[206]. - Operating profit increased to $45,213 thousand, representing a 29.1% rise compared to $35,033 thousand in 2023[206]. - Net earnings for 2024 were $41,460 thousand, a 20% increase from $34,559 thousand in 2023[206]. - Earnings per share (EPS) rose to $5.82 in 2024, up from $4.86 in 2023, reflecting a 20% growth[206]. - Dividends paid in 2024 amounted to $32,029 thousand, up from $28,385 thousand in 2023, indicating a 12.4% increase[208]. Segment Performance - Net sales in the Housewares/Small Appliance segment rose by $5.180 million (5%) to $102.799 million, while the Defense segment saw an increase of $42.322 million (18%) to $284.025 million[121]. - Gross profit for the Housewares/Small Appliance segment increased by $5.611 million (28.3%) to $25.478 million, while the Defense segment's gross profit rose by $6.170 million (11.9%) to $58.173 million[122]. Contracts and Backlog - The Defense segment was awarded a fourth five-year 40mm system contract valued at approximately $564.4 million for FY22 through FY24, with deliveries commencing in 2024 and scheduled to complete in 2028[29]. - The maximum ceiling value of the new five-year IDIQ contract for the 40mm M918E2 cartridge is $818.9 million, with deliveries scheduled to commence in 2025[30]. - The Defense segment's contract backlog was approximately $1,085,612,000 as of December 31, 2024, compared to $564,005,000 in 2023 and $505,069,000 in 2022, indicating significant growth in future revenue potential[54]. Research and Development - Research and development costs related to new product development were not a material element in the aggregate costs incurred by the Company for the years 2024, 2023, and 2022[16]. - Research and development costs for new product development were expensed in operations for the years 2024, 2023, and 2022, highlighting ongoing investment in innovation[38]. Workforce and Employment - The company had 1,126 employees as of December 31, 2024, an increase from 1,007 employees at the end of December 2023, reflecting workforce expansion[47]. Cash Flow and Liquidity - Cash used in operating activities was $53.426 million in 2024, compared to $45.389 million provided in 2023[138]. - Net cash provided by investing activities was $14.965 million in 2024, a significant increase from $447,000 used in 2023[139]. - Cash and cash equivalents decreased by $69.994 million to $17.663 million in 2024[142]. - The company has sufficient liquidity to meet anticipated capital requirements and fund future growth through acquisitions[146]. Inventory and Assets - The company’s inventory levels increase in advance of seasonal selling periods, necessitating large finished goods inventories to meet customer demand[50]. - Finished goods inventory rose to $38,351,000 in 2024 compared to $31,815,000 in 2023, indicating an increase of approximately 21%[202]. - Work in process inventory increased significantly to $219,154,000 in 2024 from $144,684,000 in 2023, marking a growth of around 52%[202]. - Total current assets amounted to $366,661,000 in 2024, a slight increase from $360,110,000 in 2023[202]. Regulatory and Compliance Risks - The company is subject to various federal, state, and local regulations, which could impose additional costs or liabilities in the future[44]. - The Company’s U.S. Government contracts are primarily fixed-price, exposing it to risks from cost increases that could adversely affect profits[75]. - Compliance with extensive defense industry regulations increases performance and compliance costs, potentially reducing profitability[78]. Supply Chain Risks - The company relies heavily on U.S. Government contracts, with potential risks associated with changes in the defense budget affecting sales and earnings[72]. - The company’s reliance on third-party suppliers in Asia poses risks related to supply interruptions and pricing changes, which could adversely affect operations[60]. - The Company relies on third-party subcontractors for key components, and their failure to perform could materially impact contract performance[77]. Cybersecurity and Acquisitions - The Company experienced a cybersecurity incident on March 1, 2025, which could materially impact its financial condition and results of operations[92]. - The Company is pursuing acquisitions but faces risks such as integration challenges and potential failure to achieve anticipated benefits[90].

Group 1 - National Presto Industries (NYSE: NPK) has shifted its focus from branded small appliances to grenade manufacturing over the past few decades [1] - In FY24, NPK generated $388 million in revenue, with $284 million (73%) coming from sales [1]

Shares of National Presto Industries, Inc. (NPK) have declined 1.7% since the company reported its earnings for the year ended Dec. 31, 2024. This compares to the S&P 500 index’s -1.8% change over the same time frame. Over the past month, the stock has moved 0.1% versus the S&P 500’s -0.3% change.See the Zacks Earnings Calendar to stay ahead of market-making news.National Presto reported net earnings of $5.82 per share for 2024, up from $4.86 per share in the prior year. The company posted a 13.9% increase ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 21, 2025 _______________ National Presto Industries, Inc. (Exact name of registrant as specified in this chapter) Wisconsin 1-2451 39-0494170 (Commission File Number) (IRS Employer Identification No.) (State or other jurisdiction of incorporation) 3925 North Hastings Way Eau ...

Core Viewpoint - Verde AgriTech Ltd. has announced the termination of its automatic securities disposition plan (ASDP) by its CEO Cristiano Veloso, which reflects his confidence in the company's future prospects [1][7]. Company Overview - Verde AgriTech is focused on advancing sustainable agriculture through the innovation of specialty multinutrient potassium fertilizers, aiming to enhance agricultural productivity and soil health while contributing to environmental sustainability [8]. Management Decision - The termination of the ASDP will take effect on January 24, 2025, which is 30 days after the notice was provided, and it is related to personal financial planning by the CEO [1][7]. - Mr. Veloso confirmed that he was not in possession of material non-public information at the time of the termination [7].

SINGAPORE, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Verde AgriTech Ltd. (TSX: “NPK”) ("Verde” or the “Company”) held its Extraordinary General Meeting of Shareholders (the “Meeting”) on Friday, December 20, 2024, at 300 Prof. Antônio Aleixo, Lourdes, Belo Horizonte, Minas Gerais, Brazil. The Company is pleased to announce that all resolutions presented to shareholders have been approved. Additionally, Verde has set the Record Date for the distribution of interests in Oby Rare Earths Pty Ltd (“Oby”) to shareholders ...