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FingerMotion Inc. (NASDAQ: FNGR) Posts a 37% YOY Revenue Growth for the 2022 Financial Year; Seeks to Keep Pushing Gross Margins Higher in the Current Fiscal Year

  • FingerMotion just announced a 37% annual revenue growth from $6.24 million in 2021 to $22.93 million for the 2022 financial year
  • Big Data posted the most significant growth at 297%, followed by Telecommunications Products & Services at 170% and SMS & MMS at 5%
  • The company looks to keep pushing gross margins higher by leveraging the optimization of its product offerings
FingerMotion (NASDAQ: FNGR) just released its financial results for the year ended February 28, 2022, which was an incredible year for the company. Annual revenue rose from $6.24 million in 2021 to $22.93 million in 2022, representing a 37% growth. This maintains the company’s upward trajectory, having posted an 82% revenue growth from FY 2020 (https://ibn.fm/J3Suj). During the release of the FY 2021 financial results, Martin Shen, FingerMotion’s Chief Executive Officer (“CEO”), noted that the company’s biggest challenge at the time was access to non-dilutive capital. However, he maintained his optimism that the company would reach profitability soon. “We have been able to steadily increase our margins by optimizing our product mix between Top-up and SMS,” he noted. “While our biggest challenge continues to be access to non-dilutive capital, we remain steadfast in our belief that we will reach profitability in the near future,” he added (https://ibn.fm/aCNhp). For the FY 2022, FingerMotion inched closer to achieving this goal, having posted gross profits of $2.81 million, representing a 71% increase from the previous year. This was mainly achieved through the growth of the SMS & MMS business, which posted a 5% year-over-year (“YOY”) growth, as well as Telecommunications Products and Services, which posted a 170% revenue growth from 2021. However, the sector that posted the highest growth was Big Data. Revenue for this sector grew by 297% from the previous year, carrying on the momentum initiated in 2021. When releasing the FY 2021 results, Mr. Shen was keen to note that Big Data showed incredible potential for growth. As such, he projected that by the end of the 2021 calendar year, the company will have closed multiple contracts relating to its Insurtech products, ultimately allowing for the growth of this sector. “The company is rapidly evolving, and we saw the first indication of revenue, albeit small, from the Big Data Insights division and from our new venture selling subscriptions and mobile phones,” noted Mr. Shen. “We are a technology company and believe our future lies in the Big Data Insights division,” he added. The annual cost of revenue for the 2022 financial year stood at $20.11 million, up from $5.08 million in 2021. The annual net loss was $4.94 million, up from $0.56 million in 2021. As of the close of the financial year, FingerMotion had $461,993 in cash and cash equivalents, a working capital surplus of $4.93 million, and a positive shareholders’ equity of $5.09 million. Total assets for the company were $10.37 million, with total current liabilities at $5.28 million. Lastly, 42,627,260 common shares were issued and outstanding as of the close of the 2022 financial year. In addition to growth in financial performance, Mr. Shen also acknowledged the company’s NASDAQ uplisting as a critical milestone. He also noted that the company achieved over $5.0 million in shareholders’ equity, another significant milestone. Going forward, Mr. Shen noted that the company will keep pushing gross margins higher, which will be influenced by the optimization of the company’s product offerings. In addition, FingerMotion plans to follow through with its mobile protection program, whose rollout is on schedule, which, it is confident, will play an integral role in the company’s growth for the current financial year. For more information, visit the company’s website at www.FingerMotion.com. NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR

Flora Growth Corp. (NASDAQ: FLGC) Closes the First Half of 2022 with UK Product Launch, Successful Brand Acquisition, and a Collaboration with Ricky Williams’ Cannabis Brand, Highsman

  • Flora’s collaboration with Highsman seeks to elevate both Highsman and Vessel, Flora’s accessories brand, thereby inspiring greatness and creating an experience worth sharing
  • The company’s acquisition of Masaya allows it to deliver on its promise to invest in safe, thorough, and cutting-edge cannabis researchws
  • Flora’s product launch on Amazon.co.uk marks a big step in operations expansion in Europe
The first half of 2022 has been successful for Flora Growth (NASDAQ: FLGC). At the beginning of the year, the company’s management noted how the cannabis sector was ripe for the picking. They noted how great brands and cost advantages are optimal traits for the company’s long-term market leadership and return on investment (“ROI”), emphasizing the opportunities ahead (https://ibn.fm/YlHId). Flora Growth has since partnered with Highsman, a cannabis lifestyle brand built on an appreciation for greatness, founded by former NFL running back Ricky Williams. The collaboration seeks to elevate Highsman and Flora’s cannabis accessories brand, Vessel, (https://ibn.fm/FmwMg). While announcing the collaboration, James Choe, Flora Growth Chief Strategy Officer (“CSO”) and President of Vessel noted that “Ricky’s story personifies the authenticity and individuality that exists at the core of Vessel, and this collaboration is a true representation of the freedom to be original.” Following the announcement of the Ricky Williams collaboration, flora announced the acquisition of CBD Brand Masaya. Flora entered into an agreement with Dr. Annabelle Manalo-Morgan, a leading cell biologist, to acquire her brand, along with its patent-pending CBD formulations, which are made up of potent CBD oil and are 100% THC-free (https://ibn.fm/cO4uF). Upon acquisition, Masaya became an owned Flora brand sold in the United States and the first offering from Flora Life Sciences. It is also projected that the patent-pending formulation, Masaya Pure, will be used in Flora’s current clinical trials with the University of Manchester in the UK. The doctor now serves on Flora’s Board of Directors as the company’s Scientific Advisor. She is also responsible for leading Flora’s global research initiatives, including the ongoing clinical trial on the use of cannabinoids with patients with fibromyalgia. “We are excited to announce the acquisition of Masaya. The brand’s formulation was developed by Dr. Annabelle for her son and has since been used by thousands of consumers,” noted Luis Merchan, Flora’s Chairman and Chief Executive Officer (“CEO”). “This acquisition allows us to deliver on our promise to invest in safe, thorough, cutting-edge scientific research that can bring meaningful change via an efficacious and accessible product offering for the people worldwide,” he added. At the close of May, Flora announced that its wholly-owned subsidiary, JustCBD, would be launching its line of Novel Foods registered CBD products on Amazon.co.uk. Set to launch on the e-commerce store in June 2022, this move would see customers in the UK access JustCBD’s best-selling gummies and tinctures (https://ibn.fm/goRlL). This launch marked a significant step in Flora’s operations expansion in Europe. In addition, it showed the company’s commitment to delivering quality cannabis-related products to customers aiming to improve their health and wellness. “With health and wellness playing an increasingly important role in customers’ lives, we are excited to increase the selection of quality CBD products offered to Amazon customers in the UK,” noted Hussein Rakine, JustCBD’s CEO. “The JustCBD team looks forward to working closely with Amazon to expand our product offering to other countries as our partnership and brand presence in the United Kingdom grows,” he added. Going into the second half of the 2022 calendar year, Flora Growth seeks to aggressively pursue the goals set at the beginning of the year, further expanding its market reach and growing its product line and customer numbers. For more information, visit the company’s website at www.FloraGrowth.com. NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC

DGE Transparency and Aggregate Spend Summit to Offer a Dynamic Learning Forum on Reporting HCP Spend Data Compliantly and Efficiently

Professionals and executives from the pharma, biotech and medical device companies are invited to attend the virtual online streaming Transparency and Aggregate Spend Summit organized by DGE. The virtual summit is hosted by DGE (Dynamic Global Events), a life science leader in organizing B2B events for the pharmaceutical, biotechnology, healthcare, medical devices, and allied industries.  The virtual summit offers a wonderful opportunity for professionals in the life sciences industry to understand the requirements and caveats of Open Payments reporting, as well as know the state-to-state regulations for HCP spend reporting. Attendees can get the latest information on the guidelines and timelines for global transparency, as well. Thought leaders will share insights and knowledge about the tools you need in order to ensure complete and accurate data and identify compliance risks. They will further share tips for managing high-risk HCP interactions, data integrity, and sharing compliance intelligence. This virtual platform offers a phenomenal learning opportunity on the aspects of compliant HCP spend reporting. Agenda of the summit:
  • Learn the needs and regulations of Open Payments reporting
  • Understand the state-to-state regulations for HCP spend reporting
  • Get acquainted with the guidelines and timelines for global transparency
  • Understand the intricacies of auditing previous years’ reporting to identify gaps and improve efficiency for the future
  • Improve your transparency program for cost-savings
The team of life science event professionals at DGE specializes in providing a conducive networking environment where attendees can be a part of the summit from within the comfort of their homes or workspaces. To learn more, please visit https://ibn.fm/FeHbk.

M-Vest Events – Digital Assets: Exploring the Metaverse and Crypto Assets

Virtual Event – June 23, 2022 Maxim Group LLC is presenting M-Vest Events, Digital Assets Conference on Crypto Assets and Metaverse. Moderated by the Maxim Group Research Analysts, the event will witness top-ranking executives from private and public companies, with panel discussions on important topics in this spectrum. A division of Maxim Group LLC (“Maxim Group”), M-Vest offers a platform that offers investment opportunities online to investors and also provides a digital community for issuers, investors, and thought leaders to exchange ideas. The forum provides insights on current market trends through presentations from innovative emerging growth companies, redefining the traditional concepts of investment banking. Important topics of panel discussions at the M-Vest Events include:
  • How the rising rates influence the value of bitcoin, NFTs, and other digital assets
  • Future market opportunities and development around collectables and gaming
  • Emerging regulation around crypto-assets and trading
  • The application of NFTs and the metaverse to personal identity
Distinguished industry veterans will be making their presence felt at the virtual event. They will offer their valuable insights on current market trends and emerging companies will hold presentations for better visibility of their products. Attendees can interact with the thought leaders via live events and Q&A. Capital raisings provide an opportunity for our investor community to participate in Regulation A and Regulation D offerings. Emerging companies and budding entrepreneurs from the metaverse, gaming, mining, NFTs, and similar platforms will exhibit their products, ideas, and innovations. Those attending this Digital Assets Conference will have exposure to the latest launches and the future trends of the industry, much ahead of their competitors. Investors and capitalists in search of lucrative investments can explore their options on this floor. The dedicated team of professionals at M-Vest is led by Cliff Teller, Executive Managing Director, Head, M-Vest. They have created M-Vest with a vision to offer valuable information and foster communication and networking between companies, industry leaders, executive managers, and investors globally. Maxim Group LLC is a leading full-service investment bank, securities and wealth management firm headquartered in mid-town Manhattan. The M-Vest Digital Assets Event will host virtual sessions where thought leaders and executives will share insights on the future trends of crypto and Metaverse. Eminent industry heads and global brands will be attending the event to participate in discussions and fireside chats. Budding companies, enthusiasts and gamers can leverage this phenomenal platform to showcase their skills and get discovered by investors. To learn more, please visit https://ibn.fm/tN8WV.

Eat Well Investment Group Inc. (CSE: EWG) (OTC: EWGFF) Posts a 1,082% YOY Asset Growth for FY 2021; Looks to Capture Global Pulse Demand with its Portfolio Companies

  • Eat Well completed the acquisition of Belle Pulses, Sapientia, and Amara Organic Foods within the 2021 financial year, producing a 1,082% asset growth over that period
  • In addition to raising over $33 million of debt, the company also bolstered its Board of Directors and advisory board
  • Eat Well is confident that with the foundation laid down so far, it’s portfolio companies will achieve revenues of between $90 million and $110 million in 2022, with bottom-line profitability and combined investments growing throughout the year
Eat Well Investment Group (CSE: EWG) (OTC: EWGFF) just released its financial reports for the fourth quarter and the entire year of 2021. When making the announcement, Marc Aneed, the company’s Director, President, and Chief Executive Officer (“CEO”), noted that over the course of the 2021 financial year, the company laid a strong foundation, positioning its portfolio companies to capture global pulse demand, and satisfy consumer needs (https://ibn.fm/t1KAY). “We have laid a strong foundation within the Eat Well Group investment platform, and we are very enthusiastic about the trajectory of our portfolio,” noted Mr. Aneed. “The global plant-based foods market continues to rapidly expand as consumers make healthier decisions for themselves and their families. Our portfolio companies are well-positioned to capture global pulse demand and accelerate the scale of their better-for-you consumer products for years to come,” he added. Over the 2021 financial year, Eat Well made significant acquisitions to strengthen its platform. It acquired all outstanding Belle Pulses Ltd. and Sapientia Technologies, LLC shares. The company also acquired a 51% majority equity interest in Amara Organic Foods, ultimately growing its assets from $5,043,430 in 2020 to $59,627,414 in 2021, representing a 1,082% growth. Under Eat Well’s ownership, Sapientia launched its first white-labeled protein twist with Federated CO-OP stores in western Canada. The products were stocked on shelves across 350 stores as of December 2021. In addition, these protein twists were recognized as a Finalist in the Canadian Grand Prix New Product Awards. Together, Eat Well’s three acquisitions generated positive net earnings of $1,478,420 despite the challenges posed by Covid-19 restrictions and a global supply chain crisis. Amara Organic Foods, owned by Pata Foods, achieved a 320% growth in revenue for the 2021 financial year, mainly influenced by the launch of its “toddler melts” product across North American retail. Over the 2021 financial year, Eat Well also raised $33.5 million of debt from a leading Canadian institution and went ahead to complete two subsequent event equity financings of $5.1 million and $5.018 million each. It also made key appointments to its Board of Directors while expanding its senior management team with additional expertise in plant-based foods investing, consumer packaged goods investing, strong governance, and over 150 years of collective experience. For the 2022 financial year, Belle Pulses projects an improved margin performance due to normalizing supply chains and improvement with Covid-19-related restrictions. In addition, strong global demand, driven by the Russia/Ukraine conflict disrupting pulse supply overseas, will also be another contributing factor. On the other hand, Amara will continue expanding its reach to new consumers. It ended the 2021 financial year with approximately 6,000 total distribution points across North American retail, having closed distribution deals with Walmart Canada, Sobeys, HEB, Loblaws, and more. With the foundation Eat Well Investment Group has laid down so far, the company is well-positioned to take its fundamental propositions to the next level. It is also well equipped to continue fueling the world’s plant-based consumption needs while raising its portfolio investments’ drive capacity, scale, innovation, distribution, and fiscal discipline. To that effect, Eat Well maintains that its revenue guidance for its investee companies stands at $90 million to $110 million for the 2022 financial year, with bottom-line profitability of combined investments projected to improve throughout the calendar year. For more information, visit the company’s website at www.EatWellGroup.com. NOTE TO INVESTORS: The latest news and updates relating to EWGFF are available in the company’s newsroom at https://ibn.fm/EWGFF

Expanding Array of API Enhancements Through Lexaria Bioscience Corp.’s (NASDAQ: LEXX) Patented Drug Technology Bodes Well for New Patient Solutions

  • Drug bioavailability enhancement technology developer Lexaria Bioscience is working to increase the number of potential new solutions to unmet medical needs and improving existing treatments for other chronic conditions
  • Lexaria’s patented DehydraTECH solution transforms a wide variety of orally and topically administered products into enhanced solutions that make the active pharmaceutical ingredients (“APIs”) more rapidly available and effective at lower doses
  • DehydraTECH-enhanced products have also demonstrated the ability to cross the blood-brain barrier through fatty acid transport proteins
  • The company’s ongoing series of tests of different DehydraTECH-enhanced products has led to a pre-IND filing with the FDA for a prospective registered treatment for hypertension, while other anticipated potential therapies target seizures, nicotine addiction and erectile dysfunction

The COVID pandemic that roiled the world’s healthcare systems during the past two years (and appears to be hospitalizing an increasing number of patients again (https://ibn.fm/6cYVm) revealed a marked demand for repurposing existing drugs for unanticipated treatments, particularly prior to the provisional development of various targeted vaccines to combat the novel coronavirus (https://ibn.fm/A4nIU).

New data analysis has revealed the potential for several existing biopharma products to be repositioned to treat patients with unmet medical needs, potentially opening the way for dozens of new solutions to chronic medical conditions (https://ibn.fm/4gSz3).

At the same time, drug technology innovator Lexaria Bioscience (NASDAQ: LEXX) is finding ways to make available pharmaceuticals and wellness products more effective at doing what they do to treat patient needs, helping to expand the range of potential solutions to chronic health concerns and unmet medical needs.

Lexaria’s patented DehydraTECH product is a technology used to increase the bioavailability of drugs administered orally or transdermally while adding zero chemical byproducts.

The company’s ongoing testing is delivering data that demonstrates the DehydraTECH-enhanced products’ ability to take effect faster and more potently in placebo-controlled and double-blinded human clinical trials.

As an example of some of Lexaria’s testing, a series of studies have advanced its investigation of DehydraTECH-CBD from lab animal to human subject stage as a potential treatment for hypertension (heart disease-related high blood pressure) and the company is pursuing a pre-Investigational New Drug (“IND”) meeting with the U.S. Food and Drug Administration (“FDA”) to file its product as a prospective registered treatment this year (https://ibn.fm/QGuqS).

Another series of tests involve the DehydraTECH-nicotine oral pouch. Smoked nicotine is the world’s leading avoidable cause of death, but non-combusted oral nicotine is dramatically less harmful. is being advanced as a non-inhaled but rapidly available Lexaria’s DehydraTECH-nicotine oral pouch is being tested this summer in a human clinical study against existing leading product brands including Zyn (Swedish Match) and ON! (Altria). Lexaria expects its DehyraTECH processed and purified nicotine to work faster than leading brands, delivering higher levels of consumer satisfaction.

Another R&D program is pitting DehydraTECH-CBD against generic CBD and Epidiolex to evaluate DehydraTECH’s ability to improve treatments for epileptic seizures – that testing will be ongoing throughout much of 2022. And if all that isn’t enough, antiviral research shows DehydraTECH enhanced versions of Remdesivir and Ebastine were effective at inhibiting COVID’s SARS- CoV-2 virus and improving their delivery into bloodstream, as well as that of Darunavir and Efavirenz, which are used in treating HIV / AIDS and regarded as potential COVID therapies (https://ibn.fm/tEGBs).

With the expanding reach of the company’s research, Lexaria is optimistic its patented technology for delivering APIs into the bloodstream and across the blood-brain barrier with reduced liver metabolization — adaptable to multiple ingestible product formats such as tablets, capsules, oral suspensions and mouth-melts — will prove disruptive to the pharmaceutical industry.

All planned Lexaria operations are fully funded through Q3 2023 at this time.

For more information, visit the company’s website at www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://ibn.fm/LEXX

Odyssey Health, Inc. (ODYY) Interview Addresses Company’s Focus on Development of Drug and Device Technologies to Treat Unmet Medical Needs

  • Odyssey Group International Inc. is a Nevada based medical company developing a variety of drug and technology assets to treat unmet clinical needs
  • Odyssey CEO Michael Redmond recently appeared on Bloomberg TV’s The RedChip Money Report(R) to discuss the development pipeline for three of the company’s four products and pending clinical testing
  • Odyssey’s assets include treatments for patients who may have undiagnosed heart disease, patients choking on some type of obstruction lodged in their throats, patients dealing with a rare neurodegenerative disorder and patients needing treatment for brain concussion injuries
  • The drug-device combination for treating concussions is advancing in a Phase 1 clinical human trial that is currently enrolling 48 patients
Sixty-five years after retired business and senior finance executive Bob Valentine received life-saving care in Children’s Hospital of Buffalo’s neonatal intensive care unit (“NICU”) to treat respiratory distress syndrome he experienced as a newborn, Valentine made a Valentine’s Day donation of $500,000 this year to the hospital’s foundation, which established a fund to help families experiencing a similar journey (https://ibn.fm/VbhyF). Valentine’s expression of gratitude for what was then revolutionary medical care is by no means unique in the annals of emergency treatments that have helped patients overcome traumatic developments and go on to pursue their lives. A Long John Silver’s business executive recently gifted $1 million to a university’s research fellowship after cardiothoracic surgery there resolved heart problems that endangered his life (https://ibn.fm/Sq4HR). And sometimes the expressions of gratitude have a more intangible value, such as when a family publicly praised a police officer’s CPR efforts that saved a choking child, who wrote the officer a thank you card (https://ibn.fm/Js38d). Odyssey Health (OTC: ODYY) is dedicated to advancing lifesaving medical products that offer similar levels of hope to a new generation of people through technological and clinical developments that demonstrate advantages over current standards of care. At the moment, Odyssey’s market profile includes two medical device candidates and two pharmaceutical products in development. The portfolio is responding to varied needs, including patients who may have undiagnosed heart disease, patients choking on some type of obstruction lodged in their throats, patients dealing with a rare neurodegenerative disorder and patients needing treatment for brain concussion injuries. CEO Michael Redmond spoke with The RedChip Money Report(R) on Bloomberg TV this month to explain the company’s business model and acknowledge the involvement of professional football athletes in the development of the concussion treatment and plans for human trials (https://ibn.fm/Liyny). There currently is no FDA-approved drug to treat concussions, according to the company, making its efforts a potentially leading-edge solution. “We will provide a clinical advantage in the marketplace,” Redmond said during the interview. “We have a very unique new chemical entity intended to treat mild traumatic brain injury — the acute phase of a concussion. It’s a small device. It essentially delivers a powderized drug through the upper chambers of the nasal cavity. The drug crosses the blood-brain barrier within five minutes. It spreads out throughout the brain within 30 minutes and reverses the effects of a concussion” (https://ibn.fm/Gpjs7). Redmond said the company’s preclinical lab animal tests indicate the drug is safe and efficacious. Lab reports have been produced and the drug had been approved to advance to a Phase 1 clinical human trial for the drug-device combination. Results from the first cohort of the trial indicate the drug was well tolerated and no adverse events were observed. The cardiological prototype device is also unique, with nothing else in the marketplace able to match its rapid ability to map the heart, Redmond said. The anti-choking device seeks to stand out above existing competitors with its portability and efficacy. The interview did not address the drug being developed to treat the rare neurodegenerative disorder Niemann-Pick disease. “They have strong IP positions — on all three of them,” Redmond said. “We believe that we have the management, the Board of Directors, and the experience level … that will allow us to successfully commercialize all three of these products and create significant value for the company.” For more information, visit the company’s website at https://odysseygi.com/. NOTE TO INVESTORS: The latest news and updates relating to ODYY are available in the company’s newsroom at https://ibn.fm/ODYY

LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Sees Growth from Lightning Network Nodes; Company Executive Publishes Guest Post About Using Bitcoin to Increase Trust on the Internet

  • Since the summer of 2021, the number of users with access to the Lightning Network has increased from approximately 100,000 to over 80 million
  • LQwD’s current channel count on the Lightning Network is 17 and connects countries worldwide
  • LQwD currently has active nodes spanning the US, Japan, England, Canada, France, Italy, Indonesia, Bahrain, South Africa, South Korea, Sweden, Singapore, Hong Kong, Brazil, Germany, India, and Ireland
  • Company executive Stephen Thompson wrote an article for Bitcoin Magazine expressing that Bitcoin (as a network) could be the additional layer of trust needed with the internet infrastructure today
Over the last 30 days, the Bitcoin Lightning Network (“LN”) has experienced an increase in channel capacity, despite the current decline and bear market being experienced by much of the cryptocurrency world. The current capacity is teetering at the 4,000 BTC mark, translating into a growth of over 5% across the last 30 days (https://ibn.fm/0EKro). Arcane Research’s The State of Lightning Volume 2 was released in April 2022 and used transactional data from the platform to support its findings. With the adoption of the Lightning Network platform quickly rising, the research indicated that the number of payments over the past year has doubled, and the value of the transactions has increased by about 400%. Comparing last summer (2021) to March 2022, it was determined that the number of users with access to the Lightning Network has increased from approximately 100,000 to 80 million, respectively (https://ibn.fm/VRenr). LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a fintech company focused on creating enterprise-grade infrastructure to drive bitcoin adoption, has been scaling its capacity on the network to drive awareness and growth. The company’s flagship platform as a service (“PaaS”) offering, https://lqwd.tech/, was released in November 2021 in addition to the first company node on the Lightning Network – US-West. As the company’s longest operating node, the US-West node’s capacity is the highest – 5.73377252 BTC, which translates to 573,377,252 satoshi/ US $121,051.86. Currently, 104 channels and 103 connected nodes are active on the network to the company’s Lightning Network node. Over the last 30 days, the US-West node has experienced growth overall, an increase of .250353 BTC (+4.57%) with an average channel capacity on the node of .055 BTC (US $1,162.01). Including US-West, the current node count operated by LQwD on the Lightning Network is 17. These nodes facilitate transactions in destinations worldwide, including Japan, England, Canada, France, Italy, Indonesia, Bahrain, South Africa, South Korea, Sweden, Singapore, Hong Kong, Brazil, Germany, India, and Ireland. Using the Lightning Network instead of the blockchain for transactions brings multiple benefits to users, such as faster settlement times and lower fees. The company has invested its own bitcoin reserves in creating its pathways across the Lightning Network. To follow LQwD’s progress on the Network, visit www.1ml.com. Bitcoin Magazine recently published an opinion piece by Stephen Thompson, the senior technical editor at LQwD (https://ibn.fm/fxCdx). In the article, Stephen discusses how Bitcoin’s trustless nature adds trust to the internet. He explains the current seven-layer structure of the internet (physical, data link, network, transport, session, presentation, and application) and how Bitcoin could essentially be a new layer of added trust. The layer refers to Bitcoin the network (not bitcoin the asset) as a trust protocol that defines the rules governing the network and protecting it from attacks. In his guest post, Thompson underlines that a combination of better technology with people allowing it to play a prominent daily role will help to improve trust overall. For more information, visit the company’s website at www.LQwDFinTech.com. NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ibn.fm/LQWDF

Golden Matrix Group Inc. (NASDAQ: GMGI) Focused on Growing Out Their B2B and B2C Verticals

  • Golden Matrix Group, Inc has been a major beneficiary of the growth in online gaming as well as the ongoing regulation and legalization of online casinos and online sports betting Globally
  • The Company has expanded its white-label B2B offering through the launch of the GM-X and GM-Ag turnkey solution, a complete software package designed to allow land-based operators to transition into providing online operations
  • GMGI have separately sought to bolster their B2C offering, most recently through the acquisition of a controlling stake in UK-based RKingsCompetitions, a leading online competition company in the UK and Northern Ireland
  • In addition to contributing over $5.1 million to GMGI’s top-line revenues in the most recent quarter, RKings’ has also been responsible for providing GMGI with upwards of 45,000 new customers per quarter
In 2006, the United States passed the Unlawful Internet Gaming Enforcement Act, infamously banning all remote gambling in the US overnight. At the time, the law acted seemed like a death knell for the sector. The sector has recently experienced a rebirth following the Supreme Court’s decision in 2018 to repeal the Professional and Amateur Sports Protection Act (“PASPA”) – clearing the way for legalized sports bettering across the nation. In just four years, the industry has worked itself into the daily lives of millions of Americans and today most major countries in the world have rules regulating online gambling rather than banning the activity. The global online gambling market size is expected to reach USD 153.6 billion by 2030, registering a CAGR of 11.7% from 2022 to 2030, according to a new report by Grand View Research, Inc.** Amongst the beneficiaries was Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms and systems and a portfolio of over 10,000 third party games. Golden Matrix Group pioneered the creation of their GM-X turnkey solution, a complete software package designed to support online gaming businesses. Designed to provide platform operators with a broad array of tools – ranging from player registration and management through to payment solutions and content management, GMGI’s solution has proved to be a boon for companies wishing to focus on the marketing aspect of their businesses whilst operating a proven set-up. Benefitting from their partnership with upwards of 25 gaming content providers, GMGI have established a portfolio of over 10,000 games ranging from online slots, casino table games, live operator games, and more. Moreover, the company have been actively seeking to bolster their portfolio, recently entering a partnership with online video-slot game provider, Endorphina (https://ibn.fm/JkrVP) which saw the company amalgamate Endorphina’s portfolio of 100 games to Golden Matrix’s selection. Golden Matrix’s efforts have had a marked impact on their financial results. The company reported record revenues of $8.5 million for the three months ending April 30, 2022, an increase of 221% relative to the equivalent period a year ago. Meanwhile, net income over the course of the quarter rose by upwards of 359%, a remarkable increase representing the company’s 15th consecutive quarter of profitability. In addition to their burgeoning B2B offering, Golden Matrix Group have also been actively working towards growing their B2C offering, an initiative which saw the company acquire an 80 percent controlling interest in UK-based RKingsCompetitions Ltd., a leading independent online competition company (https://ibn.fm/qx8wz) in November 2021. In addition to contributing approximately $5.1 million of the group’s total revenues for the quarter, RKings’s unique competitions have also resulted in GMGI acquiring forty-five thousand new players a quarter at relatively low cost – a crucial factor towards growing out their addressable consumer universe. Golden Matrix CEO, Brian Goodman, commented on the company’s growth outlook as well as the outlook for their B2B and B2C segments following their recent earnings release, “We are excited to report our second quarter as a company with both B2B and B2C verticals”. He continued, “We enter the remainder of 2022 with two robust operating divisions and a strong balance sheet. As stated previously, we continue to evaluate new opportunities in both the B2B and B2C spaces that we believe will further accelerate GMGI’s overall revenue growth and – in accordance with our acquisition strategy – are always accretive to earnings.” For more information, visit the company’s website at www.GoldenMatrix.com. NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI

Flora Growth Corp. (NASDAQ: FLGC) Achieves Key Milestone in Global Expansion Plan with JustCBD Launch on Amazon UK

  • Flora Growth completed the acquisition of Just Brands LLC and High Roller Private Label LLC, owners of the JustCBD brand, on February 28, 2022
  • The company then expanded its operational footprint in Europe and the UK in May 2022 to further its international growth strategy
  • JustCBD products, including gummies and tinctures, will be available on www.Amazon.co.uk starting this month in a pilot-only program
  • Flora Growth is optimistic that this launch will allow the company to reach a larger consumer base as it works towards further expanding its operations across Europe
On February 28, 2022, Flora Growth (NASDAQ: FLGC) completed the acquisition of 100% equity interests of Just Brands LLC and High Roller Private Label LLC, owners of the JustCBD brand. The transaction, which involved a consideration of $16 million in cash and 9.5 million in privately issued Flora common shares, was a move by Flora Growth to explore global expansion opportunities and increase the company’s customer database (https://ibn.fm/UmDpP). By mid-May 2022, Flora Growth had already announced the expansion of its operational footprint in Europe and the United Kingdom to further its international growth strategy. But, more importantly, the move signaled the company’s assertive push to broaden the reach for its JustCBD’s 79 products registered with the UK Novel Foods, paving the way for meaningful distribution of its growing house of brands. “Establishing our roots in the UK and EU will not only afford us opportunities to increase our distribution and grow market share, but it will generate actionable market insights for our team to continue to innovate and deliver the most compelling experiences we can,” noted Luis Merchan, Flora Growth’s President and Chief Executive Officer (“CEO”) (https://ibn.fm/shGj3). In what marks a noteworthy milestone for Flora Growth and its expansion plan, the company announced that JustCBD would launch its Novel Foods registered CBD products on Amazon.co.uk. JustCBD’s product line will be available on the site starting this month, making available a portfolio of the company’s best-selling gummies and tinctures. “With health and wellness playing an increasingly important role in customers’ lives, we are excited to increase the selection of quality CBD products offered to Amazon customers in the UK,” noted Hussein Rakine, the CEO of JustCBD. “The JustCBD team looks forward to working closely with Amazon to expand our product offering to other countries as our partnership and brand presence in the United Kingdom Grows,” he added (https://ibn.fm/xSTBx). The CBD market in the UK is currently valued at £700 million and is projected to hit £1 billion by 2025. This growth is attributed mainly to the UK’s regulatory framework, which is regarded as the most evolved in the world. Such structures have seen key corporations such as Amazon venturing into this market, introducing a pilot-only program that includes vendors who have already demonstrated compliance with the UK CBD Novel Food regulations. JustCBD has already undergone the Novel Food regulations approval process and has been awarded the necessary authorization proving that its products are safe for consumption and labeled correctly. With the launch of its product line on Amazon UK, Flora Growth is optimistic that it will reach a larger consumer base even as it works towards further expanding its operations across Europe. “International growth is a key objective of our company’s strategy,” noted Mr. Merchan. “The launch of Amazon UK allows Flora to reach a larger consumer base in search of quality CBD products. We are excited to continue expanding our operations in Europe and to deliver top-quality cannabis-related products to customers aiming to improve their health and wellness,” he added. For more information, visit the company’s website at www.FloraGrowth.com. NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC
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