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iClick(ICLK) - 2024 Q4 - Annual Report
2025-06-13 14:29
Disposals and Strategic Realignment - The company disposed of its mainland China enterprise solutions business for a consideration of US$80,000 in September 2024, aiming to optimize operations and enhance profitability in the SaaS sector [37]. - In November 2024, the company disposed of its demand side marketing solutions business in mainland China for RMB1 million, aligning with a strategic scale-down of lower-margin businesses due to macro-economic uncertainties [38]. - Following the disposals, the company continues to operate its supply side marketing solutions in mainland China and marketing solutions in Hong Kong and overseas [39]. - The company completed disposals in 2024 as part of its strategic realignment efforts [172]. Merger and Acquisition Activities - The company entered into a merger agreement with Amber DWM Holding Limited, with the merger closing on March 12, 2025, resulting in a name change to "Amber International Holding Limited" and a new ticker symbol "AMBR" on Nasdaq [45]. - The merger involves the acquisition of 100% equity interest in WhaleFin Markets Limited and restructuring of certain contracts, pending local regulatory approvals [43]. - The company has expanded its business through acquisitions and strategic investments, but these may divert management's attention and pose integration challenges [189]. Regulatory Environment and Compliance Risks - The company has filed a special report with the Chinese Securities Regulatory Commission (CSRC) post-disposals, indicating it is no longer subject to the filing requirements under the China Overseas Listing Filing Rules [47]. - The company does not expect to be affected by the Holding Foreign Companies Accountable Act (HFCA Act) but acknowledges uncertainties regarding future regulatory actions that could impact its U.S. listing status [54]. - The regulatory environment in Hong Kong and mainland China is complex and evolving, which could adversely affect the company's business operations [179]. - The company may face significant legal and operational risks due to the evolving regulatory landscape in Hong Kong and mainland China, which could adversely affect its business operations [182]. - The company is subject to review under domestic and foreign laws regarding foreign investments, which may impose additional costs and limit strategic transactions [186]. Financial Performance and Risks - The company incurred net losses from continuing operations of $43.7 million, $13.7 million, and $24.0 million in 2022, 2023, and 2024, respectively [171]. - As of December 31, 2023 and 2024, the company had accumulated deficits of $460.8 million and $489.4 million, respectively [171]. - Operating cash outflows from continuing operations were $11.3 million, $11.4 million, and $12.5 million in 2022, 2023, and 2024, respectively [171]. - Increased labor costs in Hong Kong, Singapore, and Dubai may adversely impact the company's financial condition and results of operations [204]. - The company relies on cash generated from financing activities, including IPOs and bank borrowings, to finance operations, and may face difficulties in obtaining additional capital [194]. Cybersecurity and Data Privacy Risks - The company may face increased competition from local providers in international markets, necessitating product and pricing adaptations [109]. - Cyberattacks and security breaches could harm the company’s reputation and lead to significant regulatory scrutiny and financial exposure [123]. - The company has experienced security breaches due to human error, insider threats, and system vulnerabilities, which may continue to increase operational costs over time [129]. - The company faces risks related to the handling of sensitive client data, which could lead to reputational harm and legal consequences if not adequately protected [142]. - Any failure to comply with data privacy regulations may result in governmental enforcement actions and could adversely affect the company's financial condition and prospects [147]. Market and Competitive Landscape - The company faces significant competition from both crypto-native firms and traditional financial services providers, which may require adjustments in fees and operational expenses to attract clients [91]. - The rapid evolution of the cryptoeconomy necessitates continuous innovation in products and services to avoid obsolescence and maintain revenue growth [104]. - The company emphasizes the importance of maintaining and enhancing its brand and reputation as key assets for business success, particularly in the competitive financial services and cryptoeconomy sectors [89]. - The company faces challenges in client retention and engagement, which are critical for its revenue growth [174]. Digital Asset Market Dynamics - The company's operating results are highly dependent on the prices of digital assets and transaction volumes; declines in these metrics could adversely affect financial condition [79]. - Digital asset prices have historically been volatile, with significant fluctuations observed in 2017 and 2022, impacting overall market confidence [80]. - The volatility of digital asset prices is significant, influenced by speculation and market adoption, which can adversely affect trading volumes and financial performance [213]. - The concentration of ownership in certain digital assets can lead to price volatility, as large sales by a small group of holders may adversely affect market prices [214]. - Political or economic crises could trigger large-scale sales of digital assets, adversely affecting their values and the company's financial condition [229]. Operational and Technological Challenges - The complexity of international operations presents challenges in compliance with diverse legal and regulatory systems, which could impact business expansion efforts [106]. - The reliance on third-party technology and service providers introduces risks that could disrupt operations and adversely affect financial results [137]. - The success of digital asset platforms relies on stable internet infrastructure, and any failures could adversely affect the company's investment and trading strategies [232]. - Technical issues during the integration of digital assets may lead to disruptions or security weaknesses, impacting the company's business operations [233].
Perma-Pipe(PPIH) - 2026 Q1 - Quarterly Results
2025-06-13 13:13
Exhibit 99.1 COMPANY: Perma-Pipe International Holdings, Inc. CONTACT: Saleh Sagr, President and CEO Perma-Pipe Investor Relations (847) 929-1200 investor@permapipe.com Perma-Pipe International Holdings, Inc. Announces its First Quarter Financial Results Gross profit was $16.7 million, or 36% of net sales, and $10.5 million, or 31% of net sales, in the three months ended April 30, 2025 and 2024, respectively. The increase of $6.2 million, was driven primarily by increased volume of activity and better margi ...
Perma-Pipe(PPIH) - 2026 Q1 - Quarterly Report
2025-06-13 13:11
For the transition period from ________ to ________ Commission File No. 001-32530 Perma-Pipe International Holdings, Inc. (Exact name of registrant as specified in its charter) Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware ...
fee (JVA) - 2025 Q2 - Quarterly Report
2025-06-13 12:32
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED April 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______________ TO _______________ COMMISSION FILE NUMBER: 001-32491 COFFEE HOLDING CO., INC. (Exact Name of Registrant as Specified in Its Charter) Nevada 11-2238111 (S ...
Friedman Industries(FRD) - 2025 Q4 - Annual Results
2025-06-12 21:29
Financial Performance - For the quarter ended March 31, 2025, the company recorded net earnings of approximately $5.3 million ($0.76 diluted earnings per share) on sales of approximately $129.2 million, compared to net earnings of approximately $5.0 million ($0.71 diluted earnings per share) on net sales of approximately $132.2 million for the same quarter in 2024[3] - For fiscal year 2025, the company recorded net earnings of approximately $6.1 million ($0.87 diluted earnings per share) on sales of approximately $444.6 million, a decrease from net earnings of approximately $17.3 million ($2.39 diluted earnings per share) on sales of approximately $516.3 million in fiscal 2024[4] Sales Volume and Segments - The company achieved a 28% increase in sales volume over the preceding third quarter and a 5% increase over the prior year fourth quarter, with sales volume reaching approximately 166,500 tons for the 2025 quarter[2][5] - The flat-roll segment sales for the 2025 quarter totaled approximately $117.7 million, with a sales volume of approximately 139,000 tons from inventory and 16,500 tons of toll processing[8] - The tubular segment sales for the 2025 quarter totaled approximately $11.5 million, with tons sold increasing from approximately 9,500 tons in the 2024 quarter to approximately 11,000 tons in the 2025 quarter[9] Hedging and Financial Position - The company recognized a total hedging gain of approximately $7.6 million for fiscal 2025, with a gain on hedging activities of approximately $1.8 million for the 2025 quarter[10] - The working capital balance at year-end was $128.1 million, reflecting a strong financial position[5] - The company maintains a strong financial position and is poised to capitalize on both short-term and long-term opportunities in the industry[12] Future Outlook - The company expects sales volume for the first quarter of fiscal 2026 to be slightly lower than the fourth quarter of fiscal 2025 due to equipment downtime, but anticipates improved margins[11] - The newest facility in Sinton, Texas, reached full capacity levels during the year and contributed the highest profit margin among all facilities[2]
Riverview Bancorp(RVSB) - 2025 Q4 - Annual Report
2025-06-12 21:20
Credit Losses and Loan Portfolio - The Company recorded a provision for credit losses of $100,000 for the fiscal year ended March 31, 2025, compared to no provision for the fiscal year ended March 31, 2024[59]. - As of March 31, 2025, the Allowance for Credit Losses (ACL) was $15.4 million, or 1.45% of total loans, down from 1.50% at March 31, 2024[60]. - Net charge-offs totaled $90,000 for the fiscal year ended March 31, 2025, compared to net recoveries of $13,000 for the prior fiscal year[60]. - Criticized loans increased by $11.8 million to $48.5 million at March 31, 2025, representing approximately 4.56% of the total loan portfolio[61]. - Classified loans increased by $2.2 million to $2.9 million at March 31, 2025, primarily due to the downgrade of a $2.0 million commercial real estate loan[63]. - The Company's ACL coverage ratio for nonperforming loans exceeded 9,900% at March 31, 2025, compared to 8,600% at the end of the prior fiscal year[60]. - The general valuation allowance for pooled loans was 1.45% at March 31, 2025, compared to 1.50% at March 31, 2024[60]. - The total loans outstanding increased to $1,062,460,000 at March 31, 2025, from $1,024,013,000 at March 31, 2024[68]. Investment Portfolio - The investment portfolio consisted solely of debt securities as of March 31, 2025, with no equity securities held[69]. - The Company does not have any exposure to sub-prime lending in its investment securities portfolio[71]. - Total investment securities decreased from $372.7 million in 2024 to $322.5 million in 2025, representing a decline of approximately 13.5%[72]. - The weighted average yield on total available-for-sale securities was 2.09% as of March 31, 2025[72]. Deposits and Borrowings - Core branch deposits increased by $2.2 million from March 31, 2024, to March 31, 2025, reflecting a focus on organic growth in client relationships[78]. - The average balance of interest-bearing checking accounts rose to $261.5 million in 2025, with an average interest rate of 1.00%, compared to $243.9 million and 0.32% in 2024[77]. - FHLB advances totaled $76.4 million as of March 31, 2025, down from $88.3 million in 2024, indicating a reduction in reliance on external borrowings[82]. - The weighted average rate on FHLB advances was 5.17% in 2025, slightly down from 5.40% in 2024[84]. - The Company had $288.0 million of uninsured deposits as of March 31, 2025, compared to $297.2 million in 2024, reflecting a decrease in risk exposure[81]. - The Company had $36.0 million in CDARS and ICS deposits, representing 2.92% of total deposits, which provide clients with access to FDIC insurance beyond the standard limit[78]. - The average balance of money market accounts was $224.1 million in 2025, with an average interest rate of 1.86%, up from $233.7 million and 1.22% in 2024[77]. Employee and Workforce Information - As of March 31, 2025, the Company had 238 full-time equivalent employees, with an average tenure of 6.8 years[88]. - The workforce composition is approximately 65% women and 35% men, with 54% of management roles held by women[89]. - The Company believes its relationship with employees is good, with no employees represented by a collective bargaining unit[88]. - The Company promotes training and continuing education as an ongoing function for its employees[90]. Financial Performance and Capitalization - The Bank met the requirements to be "well capitalized" as of March 31, 2025, with a CET1 risk-based ratio of 6.5% and a Tier 1 risk-based ratio of 8%[113]. - The Company maintains a capital conservation buffer greater than 2.5% of risk-weighted assets to avoid limitations on paying dividends and engaging in share repurchases[112]. - Riverview Services reported a net income of $10,000 and total assets of $1.4 million for the fiscal year ended March 31, 2025[93]. - The Trust Company had a net income of $2.2 million and total assets of $12.9 million at March 31, 2025, with total assets under management of $877.9 million[94]. Regulatory and Compliance Issues - The Company has not elected to use the Community Bank Leverage Ratio (CBLR) framework as of March 31, 2025[110]. - The Bank is not required to maintain any reserve balances as of March 31, 2025[131]. - Riverview is subject to comprehensive regulation by the Federal Reserve under the Bank Holding Company Act, requiring semi-annual reports and compliance with extensive regulations[143]. - Non-compliance with the USA PATRIOT Act and Bank Secrecy Act could result in fines or sanctions, impacting the company's ability to obtain regulatory approval for acquisitions[193]. - The Federal Reserve's policy on cash dividends requires that net income for the past year must be sufficient to fully fund dividends, and companies experiencing financial problems should not borrow to pay dividends[149]. Risk Management and Strategic Considerations - The company has established an enterprise risk management framework to balance risk and return, critical for optimizing shareholder value[194]. - Climate change and related regulatory initiatives may materially affect the company's business and results of operations, with potential adverse impacts from severe weather events[195][196]. - Cybersecurity risks remain a significant concern, with potential breaches leading to financial losses, reputational damage, and increased costs[197][198][199]. - The company faces risks related to fraud and financial crimes, which have been increasing nationally, potentially resulting in financial losses and reputational harm[204]. - The adoption of Artificial Intelligence (AI) introduces model risk and regulatory compliance challenges, necessitating robust governance and oversight[205][207]. - Acquisitions are part of the company's growth strategy but involve risks such as asset quality issues, client loss, and integration challenges[211][212]. - The company relies on external vendors for key operational components, exposing it to risks if vendors fail to meet contractual obligations[214]. - Goodwill impairment could reduce earnings, as the company must evaluate goodwill annually and make subjective judgments regarding fair value[210]. - The company’s financial results depend on management's accounting methods and assumptions, which could lead to unexpected losses if incorrect[208][209]. - The board of directors oversees the risk management process, including cybersecurity risks, engaging with management on these issues[203]. - Ineffective liquidity management could adversely affect the company's financial results and condition, with potential negative impacts from decreased business activity or adverse regulatory actions[215]. - Future growth or losses may require the company to raise additional capital, which may not be available or could be costly, impacting expansion and financial condition[218]. - Regulatory changes regarding Diversity, Equity and Inclusion (DEI) and Environmental, Social and Governance (ESG) practices may adversely impact the company's reputation and compliance costs[219]. - The company faces intense competition in loan making and deposit attraction, which could reduce net interest income and profitability[224]. - Retaining and recruiting key management personnel is critical for the company's success, with intense competition for qualified employees in the banking industry[225]. - The company relies on dividends from the Bank for substantially all of its revenue at the holding company level, and any inability to receive dividends could adversely affect its financial condition[226].
RH(RH) - 2026 Q1 - Quarterly Report
2025-06-12 21:20
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 3, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-35720 (Exact name of registrant as specified in its charter) Delaware 45-3052669 (State or other jurisdiction of ...
Friedman Industries(FRD) - 2025 Q4 - Annual Report
2025-06-12 21:18
Sales and Product Segmentation - Flat-roll products accounted for 91% of total sales in fiscal 2025, while tubular products contributed 9%[17] - Sales to O'Neal Steel represented approximately 16% of total sales for both fiscal years 2025 and 2024[17] - The company operates five flat-roll processing facilities and two tubular pipe mills, with a combined capacity to produce various steel products[12][15] - The company’s flat-roll segment primarily generates revenue from sales of company-owned inventory, with additional income from processing or storage services[12] - The company’s tubular segment generates all revenue from sales of company-owned inventory[15] - The company’s sales force for flat-roll products consisted of 29 personnel as of March 31, 2025[18] - The company’s flat-roll products are sold on a wholesale, rapid-delivery basis, competing with other processors of hot-rolled steel coils[13] Employee and Operational Information - The company had 271 full-time employees as of March 31, 2025[21] - The company’s Texas Tubular Products division operates two electric resistance welded pipe mills with an outside diameter size range of 2 3/8" to 8 5/8"[15] Governance and Compliance - The company’s cybersecurity program is aligned with the NIST Cybersecurity Framework 2.0 to ensure comprehensive controls and oversight[28] - The Company has adopted a Code of Conduct and Ethics applicable to all employees, directors, and officers[54] - The Company has a Clawback Policy in place as part of its governance practices[65] Financial Reporting and Statements - The Company's Annual Report to Shareholders for the fiscal year ended March 31, 2025, includes consolidated financial statements and notes[63] - The financial statements include Consolidated Balance Sheets, Statements of Operations, and Statements of Cash Flows for the years ended March 31, 2025, and 2024[63] - The Company is required to disclose security ownership information of certain beneficial owners and management in its proxy statement[58] - Definitive copies of the proxy statement for the 2025 Annual Meeting of Shareholders are expected to be filed with the SEC within 120 days after the end of the fiscal year[55] - The Company is expected to file definitive copies of its equity compensation plan information with the SEC within 120 days after the end of the fiscal year[57] Accounting and Financial Amendments - The independent public accounting firm for the Company is Moss Adams LLP, Houston, Texas[61] - The Company has undergone amendments to its Amended and Restated Credit Agreement, with the latest amendment referenced in a Form 8-K filed on May 9, 2025[64] - The Company has a 2016 Restricted Stock Plan in place for employee compensation[64]
Onconetix(ONCO) - 2025 Q1 - Quarterly Report
2025-06-12 21:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41294 Onconetix, Inc. (Exact name of registrant as specified in its charter) Delaware 83-2262816 (State or other jurisdiction o ...
Blue Water Biotech(BWV) - 2025 Q1 - Quarterly Report
2025-06-12 21:16
Financial Performance - Total revenue for Q1 2025 was $101,630, a decrease of 85.5% compared to $700,433 in Q1 2024[17] - Gross profit for Q1 2025 was $45,832, down 75.7% from $189,000 in Q1 2024[17] - Net loss for Q1 2025 was $8,545,885, compared to a net loss of $11,118,572 in Q1 2024, representing a 23.1% improvement[17] - Operating expenses for Q1 2025 totaled $12,616,661, an increase from $11,270,990 in Q1 2024[17] - The company reported a basic and diluted net loss per share of $0.53 for Q1 2025, compared to $20.08 for Q1 2024[17] - Revenue for the three months ended March 31, 2025, was approximately $0.1 million, a decrease from $0.7 million for the same period in 2024[54] - Product sales accounted for 93% of total revenue in the three months ended March 31, 2025, while development services accounted for 100% of revenue[54] Assets and Liabilities - Total current assets increased to $2,420,589 as of March 31, 2025, from $950,267 as of December 31, 2024, a growth of 154.5%[15] - Total liabilities decreased to $14,258,469 as of March 31, 2025, down 23.5% from $18,571,008 as of December 31, 2024[15] - Goodwill decreased significantly to $16,209,509 as of March 31, 2025, from $27,048,973 as of December 31, 2024, a reduction of 40.2%[15] - Cash and cash equivalents increased to $1,577,193 as of March 31, 2025, from $646,500 as of December 31, 2024, a rise of 144.5%[15] - Total stockholders' equity decreased to $3,992,793 as of March 31, 2025, from $8,542,627 as of December 31, 2024, a decline of 53.3%[15] - As of March 31, 2025, Onconetix had cash of approximately $1.6 million and a working capital deficit of approximately $11.6 million, with an accumulated deficit of approximately $125.4 million[35] Impairment and Expenses - The company incurred a loss on impairment of goodwill amounting to $10,918,000 for the three months ended March 31, 2025, compared to $5,192,000 in the prior year, indicating a 110% increase in impairment losses[23] - The company recognized goodwill impairment losses of approximately $10.9 million for the three months ended March 31, 2025, compared to $5.2 million for the same period in 2024[65] - The company recorded full impairments of intangible assets acquired from the acquisitions of Proteomedix and ENTADFI, resulting in a zero balance as of March 31, 2025[60] - The company incurred net periodic benefit costs of $16,134 for the three months ended March 31, 2025, compared to a net periodic benefit cost of $(6,733) for the same period in 2024[169] Capital Structure and Financing - The company redeemed Series C preferred stock amounting to approximately $1.71 million in 2025, indicating ongoing efforts to manage its capital structure[35] - The company has two non-interest-bearing notes payable of $5.0 million each, with maturity dates of April 19, 2024, and September 30, 2024[75] - A non-convertible debenture of $5.0 million was issued to a related party with an interest rate of 4.0% per annum, originally payable by June 30, 2024[91] - The maturity date of the related party debenture was extended to October 31, 2024, with no other terms modified[92] - The Company issued a promissory note to Keystone Capital Partners, LLC with an aggregate principal amount of $117,647.06, due by November 12, 2025[100] - The Company raised $2,000,000 from the sale of 3,499 Series C Preferred Stock and warrants to purchase 591,856 shares of common stock on October 2, 2024[121] - The Company received approximately $4.8 million under the Equity Line of Credit (ELOC) during the three months ended March 31, 2025[125] Business Operations and Strategy - Onconetix acquired Proteomedix AG on December 15, 2023, enhancing its capabilities in prostate cancer diagnosis with the Proclarix diagnostic product[26] - The company has abandoned the commercialization of ENTADFI due to insufficient resources and is exploring options for the sale of ENTADFI assets[28] - Management plans to generate product revenue from Proclarix and seeks additional funding through equity or debt financing to support ongoing operations[36] - The company is focusing on the commercialization of Proclarix, an in vitro diagnostic test for prostate cancer, which is expected to generate revenue by 2027[185][192] - The company has no products approved for sale aside from Proclarix and has not generated any revenue from product sales to date[193] Corporate Governance and Management - The company is currently searching for a permanent Chief Executive Officer and Chief Financial Officer[187] - The Company has entered into a potential business combination with Ocuvex Therapeutics, Inc., which would result in Ocuvex equity holders owning approximately 90% of the Company post-transaction[177] Tax and Regulatory Matters - The Company recorded an income tax benefit of approximately $127,000 for the three months ended March 31, 2024, yielding an effective tax rate of 21.3% for Proteomedix[161] - The Company has recorded a full valuation allowance against its U.S. deferred tax assets due to uncertainty around utilizing these tax attributes[162]