Joining forces will expand The Bank of Glen Burnie's mortgage business line both in products and footprint, and will grow VA Wholesale Mortgage's reach and strength under The Bank of Glen Burnie name. GLEN BURNIE, Md., Aug. 18, 2025 (GLOBE NEWSWIRE) -- The Bank of Glen Burnie, a wholly owned subsidiary of Glen Burnie Bancorp (NASDAQ: GLBZ), continued its plans for growth and expansion through today's completed acquisition of VA Wholesale Mortgage, Inc., announced Mark C. Hanna, President and CEO of Glen Bur ...

Core Viewpoint - Pineapple Financial Inc. has issued a statement addressing recent unusual trading activity, confirming no material developments beyond previously disclosed information [1][2]. Group 1: Company Response - The company conducted an internal review and found no new material developments in its business [1]. - Pineapple Financial emphasizes reliance on official filings and press releases for updates [1]. - The recent Form 8-K filing highlighted an improved cash position and ongoing execution of its strategic plan [2]. Group 2: Company Overview - Pineapple Financial is a leading Canadian mortgage brokerage network and fintech company, focusing on the success of agents and brokers as well as enhancing the homeowner experience [3]. - The company utilizes advanced cloud-based tools and AI-driven systems to assist brokers in helping Canadians achieve homeownership [3]. - Pineapple is actively involved in community support, sponsoring charities across Canada to improve lives [3].

Pineapple Financial Announces Relisting on the NYSE AmericanMilestone marks renewed growth strategy, increased accessibility for investors, and operational momentumJuly 17, 2025 8:00 AM EDT | Source: Pineapple Financial Inc.Toronto, Ontario--(Newsfile Corp. - July 17, 2025) - Pineapple Financial Inc. (NYSE American: PAPL), a leading Canadian mortgage technology and brokerage company, today announced that it has successfully completed a 1-for-20 reverse stock split and has been approved for rel ...

Core Viewpoint - Pineapple Financial Inc. will implement a 1-for-20 reverse stock split of its common shares effective July 16, 2025, to increase the per-share market price and regain compliance with NYSE American's Listing Qualifications [1][3]. Group 1: Reverse Stock Split Details - The reverse stock split will combine every 20 issued and outstanding common shares into one common share, reducing the number of outstanding shares from 20,092,025 to 1,004,675 [2]. - The number of authorized shares will remain unchanged, and no fractional shares will be issued; any resulting fractional shares will be rounded up to the nearest whole share [2][4]. - Following the reverse split, the common shares will trade under the new ticker symbol "PAPLD" and will revert to "PAPLF" after 20 business days [3]. Group 2: Company Overview - Pineapple Financial Inc. is a Canadian mortgage technology and brokerage company that focuses on enhancing the experience of homeowners and the success of agents and brokers [5]. - The company utilizes cloud-based tools and AI-driven systems to assist brokers in helping Canadians achieve homeownership [5]. - Pineapple is also engaged in community support, sponsoring charities across Canada to improve the lives of fellow Canadians [5].

Core Insights - Pineapple Financial reported reduced losses and improved cash flow for Q3 Fiscal 2025, indicating sustainable growth in a shifting market [1][2] - The company emphasized fiscal discipline, innovation, and responsible growth amidst market uncertainties [2] Financial Performance - Gross Billings reached $14.23 million, a 15.23% increase from $12.35 million in the same period last year [7] - Revenue rose 11.78% to $2.26 million, compared to $1.97 million in 2024 [7] - Operating Expenses declined 3.48% to $4.25 million, down from $4.42 million last year [7] - Operating Loss narrowed by 16.76% to $1.99 million, compared to $2.45 million in the prior year [7] - Net Cash Used in Operations improved significantly to $439,198, from $1.44 million in the same period last year [7] - Cash on Hand stood at $1.13 million as of May 31, 2025, compared to $580,356 at August 31, 2024 [7] Strategic Developments - On June 26, 2025, the Board approved a 1-for-20 reverse stock split to support NYSE American relisting requirements [8] - The company maintains access to a $15 million Equity Line of Credit, supporting future liquidity needs [8] - Pineapple enhanced its proprietary PineappleONE platform, now powering over 700 brokers across Canada [9] Market Context - The Canadian mortgage market remains resilient, with over $2 trillion in outstanding residential mortgage credit as of Q2 2025 [11] - Over $400 billion in Canadian mortgages are set to renew by 2026, creating significant opportunities for tech-enabled providers [10]

Core Insights - RE/MAX Holdings, Inc. announces the retirement of Motto Mortgage and wemlo President and CEO Ward Morrison, effective June 15, 2025, with Morrison remaining in a consultative role until the end of 2025 [1][4] Company Overview - RE/MAX Holdings, Inc. is a leading franchisor in the real estate industry, operating under the RE/MAX® brand globally and the Motto® Mortgage brand in the U.S. [6] - The company was founded in 1973 and has grown to over 145,000 agents in nearly 9,000 offices across more than 110 countries, making it the largest real estate sales organization in terms of total residential transaction sides [6] Leadership Transition - Morrison played a crucial role in the development and launch of Motto Mortgage in 2016, establishing a unique business model that supports entrepreneurs in building mortgage businesses [2][5] - Adam Sartin, Vice President of Franchise Growth & Development, will lead the Motto Mortgage and wemlo brands during the search for Morrison's successor [4] Morrison's Contributions - Morrison's leadership has significantly impacted the real estate and mortgage industries, and he expressed pride in the accomplishments of Motto Mortgage since its inception [5][6] - His decision to retire is influenced by personal reasons, including a focus on family and personal fulfillment [3][4]