monopoly slots game
NEW YORK — U.S. stock indexes drifted amid mixed trading Monday, ahead of this week’s upcoming meeting by the Federal Reserve that could set Wall Street’s direction into next year. The S&P 500 rose 0.4%, coming off its first losing week in the last four . The Nasdaq composite climbed 1.2% to a record, while the Dow Jones Industrial Average was a laggard and fell 110 points, or 0.3%. Broadcom leaped 11.2% to help lead the S&P 500 for a second straight day after delivering a profit report last week that beat analysts’ expectations. The technology company is riding a wave of enthusiasm about its artificial-intelligence offerings in particular. The market’s main event, though, will arrive on Wednesday when the Federal Reserve will announce its last move on interest rates for the year. The widespread expectation is that it will cut its main rate for a third straight time, as it tries to boost the slowing job market after getting inflation nearly all the way down to its target of 2%. The question is how much more it will cut rates next year, and Fed officials will release projections for where they see the federal funds rate ending 2025, along with other economic indicators, once their meeting concludes. Fed Chair Jerome Powell will also answer questions in a press conference following the meeting. For now, the general expectation among traders is that the Fed may cut a couple more times in 2025, according to data from CME Group. But such expectations have been shrinking following reports suggesting inflation may be tougher to get all the way down to 2% from here. Besides last month’s slight acceleration in inflation, another worry is that President-elect Donald Trump’s preferences for tariffs and other policies could lead to higher inflation down the line. Goldman Sachs economist David Mericle has dropped his earlier forecast of a cut by the Fed in January, for example. Beyond the possibility of tariffs, he said Fed officials may also want to slow their cuts because of uncertainty about exactly how low rates need to go so that they no longer press the brakes on the economy. Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times so far this year and is heading for one of its best years of the millennium . The economy has held up better than many feared, continuing to grow even after the Fed hiked the federal funds rate to a two-decade high in hopes of grinding down on inflation, which topped 9% two summers ago. On Wall Street, MicroStrategy jumped as much as 7% during the day as it continues to benefit from the surging price for bitcoin , which set another all-time high. But its stock ended the day down by les than 0.1% after bitcoin’s price pulled back below $106,000 after setting a record above $107,700, according to CoinDesk. The software company has been building its hoard of the cryptocurrency, and its stock price has more than sextupled this year. It will also soon join the Nasdaq 100 index. Bitcoin’s price has catapulted from roughly $44,000 at the start of the year, riding a recent wave of enthusiasm that Trump will create a system that’s more favorable to digital currencies . Honeywell rose 3.7% after saying it’s still considering a spin-off or sale of its aerospace business, as part of a review of its overall business. It said it plans to give an update with the release of its fourth-quarter results. They helped offset a drop for Nvidia, whose chips are powering much of the world’s move into AI. Its stock fell 1.7%. Because it’s grown so massive, with a total value topping $3 trillion, it was the single heaviest weight on the S&P 500. All told, the S&P 500 rose 22.99 points to 6,074.08. The Dow Jones Industrial Average fell 110.58 to 43,717.48, and the Nasdaq composite rose 247.17 to 20,173.89. In the bond market, Treasury yields held relatively steady. The yield on the 10-year Treasury edged down to 4.39% from 4.40% late Friday. The two-year yield, which more closely tracks expectations for the Fed, eased to 4.24% from 4.25%. In stock markets abroad, indexes fell modestly across much of Europe and Asia. They sank 0.9% in Hong Kong and 0.2% in Shanghai after China reported lackluster economic indicators for November despite attempts to strengthen the world’s second-largest economy. South Korea’s Kospi fell 0.2% as law enforcement authorities pushed to summon impeached President Yoon Suk Yeol for questioning over his short-lived martial law decree, and the Constitutional Court met to discuss whether to remove him from office or reinstate him. AP Business Writer Elaine Kurtenbach contributed.
BOCA RATON, Fla.--(BUSINESS WIRE)--Dec 16, 2024-- The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today a $70 million investment in capital expenditures to strengthen the Company’s capabilities to deliver expanded detention capacity, secure transportation, and electronic monitoring services to U.S. Immigration and Customs Enforcement (“ICE”). GEO is currently the largest service provider to ICE, currently providing approximately 21,000 detention beds (with a present census of 14,000) at 16 ICE Processing Centers with the ability to expand to a minimum of 32,000 beds at 23 facilities. GEO also presently provides electronic monitoring and case management services for approximately 185,000 participants under the Intensive Supervision Appearance Program, as well as secure ground transportation and air operations support services. With the objective of offsetting the $70 million investment in capital expenditures and further reducing debt, GEO intends to pursue the possible sale of several underperforming company-owned state correctional facilities. In addition, GEO also announced several senior management changes. GEO’s Chief Executive Officer, Brian Evans, has given GEO notice of his retirement to pursue other opportunities, effective December 31, 2024. J. David Donahue will begin serving as the new Chief Executive Officer, effective January 1, 2025. Mr. Donahue has more than 40 years of experience in corrections and detention, having served in senior executive roles overseeing operational planning, facility activations, and managing operational teams. He joined GEO as the Eastern Region Vice President in 2009, after a distinguished career in corrections with the Federal Bureau of Prisons, Kentucky, and Indiana, where he served as Corrections Commissioner from 2005 to 2008. He also served as the Vice President of the American Correctional Association (“ACA”) and is an ACA-Certified Corrections Executive. During his tenure with GEO, Mr. Donahue was promoted to Senior Vice President and President of GEO Secure Services in 2016 and retired from GEO in July of 2020. GEO previously announced the appointment of Paul Laird as Senior Vice President of Secure Services, effective January 1, 2025, replacing James Black who will retire on December 31, 2024 as previously announced. Mr. Laird joined GEO in 2015 as Eastern Region Director of Operations and was subsequently promoted to Western Region Vice President and was most recently transferred to Eastern Region Vice President. Prior to joining GEO, he served as Regional Director of the Federal Bureau of Prisons, North Central Regional Office, overseeing 20 facilities. Prior to that assignment, he served five years as the Chief Operating Officer of Federal Prison Industries and as Assistant Director of the Industries, Educational and Vocational Training Division. He also served on the AbilityOne Commission as a Presidential Appointee representing the United States Department of Justice between 2005 and 2015. GEO also announced the appointment of Daniel Ragsdale as Senior Vice President, Contract Administration and Compliance, effective January 1, 2025. Mr. Ragsdale joined GEO in 2017 as Executive Vice President, Contract Compliance, after a successful career at ICE, where he served as Deputy Director from 2012 to 2017. In that capacity, he served as Chief Operating Officer for ICE, leading 20,000 employees, including 7,000 criminal investigators at Homeland Security Investigations and 6,000 officers in Enforcement and Removal Operations. He also previously served as a Special Assistant U.S. Attorney in the Criminal Division of the U.S. Attorney’s Office for the District of Arizona. George C. Zoley, Executive Chairman of GEO, said, “We are pleased to welcome back David Donahue to GEO in his new role as Chief Executive Officer. His more than 40 years of experience in corrections and detention, coupled with his experience in operational planning, facility activations, and managing and overseeing operational teams will serve as an asset to our Company as we face the new and expanding opportunities ahead. We are also pleased to welcome Paul Laird and Dan Ragsdale to our Senior Management team. Mr. Laird’s operational experience and Mr. Ragsdale’s background in federal contract administration will continue to be important assets for our Company. We are continuing to prepare for what we believe are potentially unprecedented future growth opportunities. We are making a $70 million investment in capital expenditures to strengthen our capabilities to deliver expanded detention capacity, secure transportation, and electronic monitoring and related services to ICE. We also intend to pursue the possible sale of several of our underperforming company-owned state correctional facilities with the objective of offsetting these capital investments and further reducing our overall debt.” About The GEO Group The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 99 facilities totaling approximately 80,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees. Use of forward-looking statements This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law. View source version on businesswire.com : https://www.businesswire.com/news/home/20241216329043/en/ CONTACT: Pablo E. Paez (866) 301 4436 Executive Vice President, Corporate Relations KEYWORD: FLORIDA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT DEFENSE OTHER DEFENSE IMMIGRATION LAW ENFORCEMENT/EMERGENCY SERVICES PUBLIC SAFETY HOMELAND SECURITY GOVERNMENT TECHNOLOGY SOURCE: The GEO Group, Inc. Copyright Business Wire 2024. PUB: 12/16/2024 04:15 PM/DISC: 12/16/2024 04:15 PM http://www.businesswire.com/news/home/20241216329043/enBrighton draws 0-0 with Brentford in lackluster Premier League encounter
India News | Countdown Begins for ISRO's Space Docking Experiment Onboard PSLV-C60 RocketGrande, 31, also said her co-star was a “brilliant gift of a human being” while being interviewed by Gladiator star Paul Mescal for US news outlet Variety. Mescal told the singer and actor: “I’m watching you guys in the press tour. You’re obviously in love with each other.” To which she replied: “Insufferable. Yes. We’re horrible. It’s bad.” The 7 Rings singer plays Glinda, while her 37-year-old co-star plays Elphaba, in the film which is an adaption of the musical stage show of the same name and is set in The Land Of Oz before the events of The Wizard Of Oz. Their interviews for the film, which have seen the two being emotional towards one another and holding hands, have gone viral on social media. Speaking about Erivo, Grande said: “Cynthia is just an absolute brilliant gift of a human being. I think we tried to keep the pressure out of the room, obviously, as much as possible.” She also said she had not had any read throughs with her co-star before joining the cast. Grande said: “We never chemistry read together, it was three rounds for me, and I read with two different actresses. “I stayed for three and a half hours the final day, and I had cried so much. “We did Popular, Defying Gravity, (and) For Good (songs from the film), and I left my lashes on the mirror, because I left everything else in the room.” The film follows Elphaba, who is misunderstood because of her green skin, as she forges an unlikely friendship with Glinda, a student with a desire for popularity. Bullying of the green-skinned witch saw the movie, which also stars Peter Dinklage, Jeff Goldblum and Jonathan Bailey, given a PG rating by the British Board Of Film Classification (BBFC) for “discrimination”.is having a great first season with his new team after spending his first 13 seasons with the where he won four championships and was one half of one of the most dynamic duos in 's recent history along superstar guard : the On Thompson passed legendary shooter for fifth place on the NBA's all time three-pointers list; he currently has 2,565. Curry is at the top of list, with 3,853. Next is (3,024); the iconic (2,973); and (2,686). "I couldn't ask for a better Christmas present," Thompson said. "It's obviously a dream come true and I'm going to celebrate because you just think of all the hours you spent shooting and all the shots you've gotten up in your lifetime and to pass an icon like Reggie is super-surreal, especially being a '90s baby. I watched him hit so many game-winners, battle against the best that ever played and leaving it all out on the floor." Thompson shuts down a hater while signing autographs Thompson was having a good time signing autographs to the fans outside of an hotel in Portland, Oregon, as the were getting ready to battle the Sunday night. Everything was going smooth until a man wanted some attention and started screaming that he didn't care who Klay Thompson was or why were people were asking for his signature. "But you are over there watching, you bum. What are you talking about?" said, which was applauded by fans who cheered after hearing the basketball player. Apparently the heckler was a delivery guy and the guard took notice of that and decided to make a statement. "Go deliver the package, go do your job, why are you standing there? Go do your job, you f****** weirdo." added. Mavericks' Jason Kidd praises Thompson shooting s latest achievement didn't go unnoticed by Dallas Mavericks coach , a former champion with the team himself. "It's incredible for Thompson's journey. He's going to go down as one of the best shooters in the game. To be able to pass in the all-time three-pointers list is history." said the former NBA guard. "I'm going to keep the (game) ball and send the (game) jersey to Reggie and inscribe it because he meant that much to me," Thompson said. "I remember his battles with Mike and Kobe, taking a small-market team like the Pacers all the way to the NBA Finals and being in the East finals routinely and just being the standard for a what a shooting guard should look that. "Ever since I was a teenager I studied the way he moved without the ball. It's had a huge impact on my game. I remember my workout with the Knicks in 2011, (then-Knicks GM) Donnie Walsh said I reminded him of Reggie. That meant a lot to me."
Q2 Fiscal 2025 Highlights Reports revenue of $11.5 Million Gross margin increased to 71% from 63% Net loss of $(4.2) million reflects $(4.9) million one-time non-cash lease related impairment charges for right-of-use assets and tenant leasehold improvements Adjusted EBITDA improved by 42% year-over-year due to continued cost controls PHOENIX, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (OTC Markets: ASPU) ("AGI" or the "Company"), an education technology holding company, today announced financial results for its second quarter fiscal year 2025 ended October 31, 2024. Second Quarter Fiscal Year 2025 Summary Results Three Months Ended October 31, Six Months Ended October 31, $ in millions, except per share data 2024 2023 2024 2023 Revenue $ 11.5 $ 13.8 $ 22.8 $ 28.5 Gross Profit 1 $ 8.1 $ 8.7 $ 15.6 $ 18.5 Gross Margin (%) 1 71 % 63 % 69 % 65 % Operating Income (Loss) $ (4.8 ) $ (0.5 ) $ (5.5 ) $ (0.2 ) Net Income (Loss) Available to Common Stockholders 2 $ (4.2 ) $ (1.6 ) $ (4.4 ) $ (2.3 ) Earnings (Loss) per Share Available to Common Stockholders $ (0.16 ) $ (0.06 ) $ (0.17 ) $ (0.09 ) EBITDA 3 $ (3.0 ) $ 0.4 $ (1.9 ) $ 1.8 Adjusted EBITDA 3 $ 1.5 $ 1.1 $ 2.0 $ 3.0 _______________________ 1 GAAP gross profit calculation includes marketing and promotional costs, instructional costs and services, and amortization expense of $0.5 million and $0.5 million, and $0.9 million and $1.0 million for the three and six months ended October 31, 2024 and 2023, respectively. 2 Net income (loss) in fiscal Q2 2025 and year-to-date fiscal 2025 includes a noncash impairment charge of $(4.9) million. Additionally, fiscal Q2 2025 and year-to-date fiscal 2025 contain a non-cash gain of $1.1 million and $1.9 million, respectively, related to the change in the fair value of put warrant liability. See further explanation on page 2. 3 Non-GAAP financial measures. See reconciliations of GAAP to non-GAAP financial measures under "Non-GAAP – Financial Measures" starting on page 5. "We made significant strides toward stabilizing our revenue in the second quarter of fiscal 2025 while achieving positive cash flow through disciplined cost management," said Michael Mathews, Chairman and CEO of AGI. "Despite maintaining a disciplined marketing spend, we achieved notable improvements in our financial performance, particularly gross margin. Our gross margin expanded primarily due to the lower instructional costs from completing the AU Pre-licensure BSN program teach-out and increased efficiencies in USU's instructional operations. Additionally, restructuring efforts reduced general and administrative expenses by 14% year-over-year. While our net loss was impacted by a one-time, noncash leasehold impairment charge, the lower instructional costs and expense reduction initiatives in the second quarter collectively drove a 42% year-over-year improvement in Adjusted EBITDA for the quarter and delivered modest year-to-date positive cash from operations." Mr. Mathews concluded, "As of the filing of our quarterly report for the first quarter fiscal year 2025 with OTC Market, AGI is now fully compliant with the QB listing requirements. We have recently begun the process to resume trading on the OTCQB." Fiscal Q2 2025 Financial and Operational Results (compared to Fiscal Q2 2024) Revenue decreased by 17% to $11.5 million compared to $13.8 million. The following table presents the Company's revenue, both per-subsidiary and total: Three Months Ended October 31, 2024 $ Change % Change 2023 AU $ 4,773,693 $ (2,519,431 ) (35)% $ 7,293,124 USU 6,686,086 150,363 2% 6,535,723 Revenue $ 11,459,779 $ (2,369,068 ) (17)% $ 13,828,847 Aspen University's ("AU") revenue decline of $2.5 million, or 35%, reflects the completion of the teach-out of the pre-licensure program and lower post-licensure enrollments in prior quarters as a result of the decrease in marketing spend initiated in late Fiscal Q1 2023. The active student body at AU decreased by 33% year-over-year to 3,827 at October 31, 2024 from 5,679 at October 31, 2023. United States University ("USU") revenue was up 2% compared to the prior period. MSN-FNP program enrollments decreased in the quarter due to lower marketing spend initiated in late Fiscal Q1 2023. Lower enrollments were offset by higher revenue per student driven by more students entering their second year of the MSN-FNP program, which includes clinical rotations, and by tuition increases. The active student body at USU decreased by 6% to 2,560 at October 31, 2024 from 2,733 at October 31, 2023. GAAP gross profit decreased 7% to $8.1 million compared to $8.7 million primarily due to the overall student body decrease of 24%. Gross margin was 71% compared to 63%. AU's gross margin was 67% versus 61%, and USU's gross margin was 74% versus 67%. The increase in gross margin is the result of lower instructional costs from completing the AU Pre-licensure BSN program teach-out, increased efficiencies in USU's instructional operations and lower marketing spend. AU instructional costs and services represented 26% of AU revenue, and USU instructional costs and services represented 23% of USU revenue. AU marketing and promotional costs represented 1% of AU revenue, and USU marketing and promotional costs represented 1% of USU revenue. In Fiscal Q2 2025 and year-to-date Fiscal 2025, our bottom line was materially impacted by a $4.9 million non-cash right-of-use assets and tenant leasehold improvements impairment charge. The charge is the result of the fact that AU is no longer able to utilize space for BSN Pre-licensure operations due to the completion of the teach-out. The charge represents the entirety of the remaining impairment exposure due to the teach-out. The impact of the charge to our operating expenses, net loss and EBITDA is presented in the following table: Three Months Ended October 31, Six Months Ended October 31, 2024 $ Change % Change 2023 2024 $ Change % Change 2023 Impairments of right-of-use assets and tenant leasehold improvements $ 4,937,154 $ 4,937,154 NM $ — $ 4,937,154 $ 4,937,154 NM $ — _____________________ NM – Not meaningful The following tables present the Company's net income (loss), both per subsidiary and total: Three Months Ended October 31, 2024 Consolidated AGI Corporate AU USU Net income (loss) available to common stockholders $ (4,153,422 ) $ (935,442 ) $ (5,350,264 ) $ 2,132,284 Net loss per share available to common stockholders $ (0.16 ) Three Months Ended October 31, 2023 Consolidated AGI Corporate AU USU Net income (loss) available to common stockholders $ (1,611,813 ) $ (3,807,821 ) $ 581,707 $ 1,614,301 Net loss per share available to common stockholders $ (0.06 ) The following tables present the Company's Non-GAAP Financial Measures, both per subsidiary and total. See reconciliations of GAAP to non-GAAP financial measures under "Non-GAAP – Financial Measures" starting on page 5. Three Months Ended October 31, 2024 Consolidated AGI Corporate AU USU EBITDA $(2,962,755) $(496,585) $(4,747,931) $2,281,761 EBITDA Margin (26)% NM (99)% 34% Adjusted EBITDA $1,549,020 $(1,478,554) $515,798 $2,511,776 Adjusted EBITDA Margin 14% NM 11% 38% Three Months Ended October 31, 2023 Consolidated AGI Corporate AU USU EBITDA $419,073 $(2,680,982) $1,339,102 $1,760,953 EBITDA Margin 3% NM 18% 27% Adjusted EBITDA $1,087,205 $(2,487,843) $1,585,674 $1,989,374 Adjusted EBITDA Margin 8% NM 22% 30% Adjusted EBITDA improved by $0.5 million due to the reduction in instructional costs and services related to the teach-out of the pre-licensure program, increased instructional efficiencies at USU and a decrease in general and administrative costs attributed to our restructurings. Operating Metrics New Student Enrollments Total enrollments for AGI decreased 30% from Fiscal Q2 2024 but increased 15% sequentially, despite the reduction in internet advertising spend across all programs to maintenance levels. The sequential increase in enrollments reflected an unusually strong month of August as prospective students enrolled prior to an annual tuition increase which took effect in September 2024. New student enrollments at AU decreased 37% year-over-year and at USU decreased 19% year-over-year. The new student enrollment decrease year-over-year was primarily impacted by our reduction in marketing spend. We anticipate the resumption of marketing spend in late Fiscal 2025 at a level necessary to provide enrollments needed to grow the student body and allow for the generation of positive operating cash flow. New student enrollments for the past five quarters are shown below: Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Aspen University 808 473 427 413 508 USU 548 325 370 410 442 Total 1,356 798 797 823 950 Total Active Student Body AGI's active degree-seeking student body, including AU and USU, declined 24% year-over-year to 6,387 at October 31, 2024 from 8,412 at October 31, 2023. AU's total active student body decreased by 33% year-over-year to 3,827 at October 31, 2024 from 5,679 at October 31, 2023. On a year-over-year basis, USU's total active student body decreased by 6% to 2,560 at October 31, 2024 from 2,733 at October 31, 2023. Total active student body for the past five quarters is shown below: Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Aspen University 5,679 5,146 4,559 4,145 3,827 USU 2,733 2,503 2,489 2,477 2,560 Total 8,412 7,649 7,048 6,622 6,387 Nursing Students Nursing student body for the past five quarters is shown below . Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Aspen University 4,470 4,032 3,526 3,198 2,948 USU 2,432 2,270 2,262 2,254 2,300 Total 6,902 6,302 5,788 5,452 5,248 Liquidity The Fiscal Q2 2025 ending unrestricted cash balance was $0.8 million. The following three factors will help us continue to stabilize operating cash flow in the second half of Fiscal 2025. First, effective August 16, 2024, AU transitioned from the Heightened Cash Monitoring 2 (HCM2) to the Heightened Cash Monitoring 1 (HCM1) method of receiving student financial aid payments from the U.S Department of Education. This transition allows AU to disburse student financial aid using institutional funds and immediately draw down reimbursement by submitting disbursement records, eliminating payment delays and resulting in more consistent unrestricted cash balances. Second, we renegotiated the 15% Senior Secured Debentures in November 2024, reducing ongoing principal payments and changing the timing of principal payments from monthly to quarterly. Finally, the Company initiated a fourth restructuring late in the fourth quarter of calendar 2024, projected to reduce annual operating expenses by over $1.5 million. Cost reductions associated with the four restructuring plans and other corporate cost reductions were implemented to ensure that the company will have sufficient cash to meet its working capital needs for the next 12 months. Non-GAAP – Financial Measures This press release includes both financial measures in accordance with Generally Accepted Accounting Principles, or GAAP, as well as non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures should be viewed as supplemental to, and should not be considered as alternatives to net income (loss), operating income (loss), and cash flow from operating activities, liquidity or any other financial measures. They may not be indicative of the historical operating results of AGI nor are they intended to be predictive of potential future results. Investors should not consider non-GAAP financial measures in isolation or as substitutes for performance measures calculated in accordance with GAAP. Our management uses and relies on EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin, which are non-GAAP financial measures. We believe that management, analysts, and shareholders benefit from referring to the following non-GAAP financial measures to evaluate and assess our core operating results from period-to-period after removing the impact of items that affect comparability. Our management recognizes that the non-GAAP financial measures have inherent limitations because of the excluded items described below. We have included a reconciliation of our non-GAAP financial measures to the most comparable financial measures calculated in accordance with GAAP. We believe that providing the non-GAAP financial measures, together with the reconciliation to GAAP, helps investors make comparisons between AGI and other companies. In making any comparisons to other companies, investors need to be aware that companies use different non-GAAP measures to evaluate their financial performance. Investors should pay close attention to the specific definition being used and to the reconciliation between such measure and the corresponding GAAP measure provided by each. AGI defines Adjusted EBITDA as EBITDA excluding: (1) bad debt expense; (2) stock-based compensation; (3) severance; (4) impairments of right-of-use assets and tenant leasehold improvements and (5) non-recurring (income) charges. The following table presents a reconciliation of net income (loss) to EBITDA and Adjusted EBITDA and of net income (loss) margin to the Adjusted EBITDA margin: Three Months Ended October 31, 2024 2023 Net loss $ (4,146,365 ) $ (1,611,813 ) Interest expense, net 342,490 1,040,720 Taxes 46,225 40,076 Depreciation and amortization 794,895 950,090 EBITDA (2,962,755 ) 419,073 Bad debt expense 450,000 450,000 Stock-based compensation 98,245 218,132 Severance 35,522 — Impairments of right-of-use assets and tenant leasehold improvements 4,937,154 — Non-recurring income - Other (1,009,146 ) — Adjusted EBITDA $ 1,549,020 $ 1,087,205 Net income / loss Margin (36 )% (12 )% Adjusted EBITDA Margin 14 % 8 % The following tables present a reconciliation of Net income (loss) to EBITDA and Adjusted EBITDA and of Net income (loss) margin to the Adjusted EBITDA margin by business unit: Three Months Ended October 31, 2024 Consolidated AGI Corporate AU USU Net income (loss) $ (4,146,365 ) $ (928,386 ) $ (5,350,264 ) $ 2,132,285 Interest expense, net 342,490 342,490 — — Taxes 46,225 15,479 25,900 4,846 Depreciation and amortization 794,895 73,832 576,433 144,630 EBITDA (2,962,755 ) (496,585 ) (4,747,931 ) 2,281,761 Bad debt expense 450,000 — 225,000 225,000 Stock-based compensation 98,245 94,819 1,954 1,472 Severance 35,522 8,357 23,622 3,543 Impairments of right-of-use assets and tenant leasehold improvements 4,937,154 — 4,937,154 — Non-recurring (income) charges - Other (1,009,146 ) (1,085,145 ) 75,999 — Adjusted EBITDA $ 1,549,020 $ (1,478,554 ) $ 515,798 $ 2,511,776 Net income (loss) Margin (36)% NM (112)% 32 % Adjusted EBITDA Margin 14 % NM 11 % 38 % ___________________ NM – Not meaningful Three Months Ended October 31, 2023 Consolidated AGI Corporate AU USU Net income (loss) $ (1,611,813 ) $ (3,807,821 ) $ 581,707 $ 1,614,301 Interest expense, net 1,040,720 1,040,720 — — Taxes 40,076 7,997 18,601 13,478 Depreciation and amortization 950,090 78,122 738,794 133,174 EBITDA 419,073 (2,680,982 ) 1,339,102 1,760,953 Bad debt expense 450,000 — 225,000 225,000 Stock-based compensation 218,132 193,139 21,572 3,421 Adjusted EBITDA $ 1,087,205 $ (2,487,843 ) $ 1,585,674 $ 1,989,374 Net income (loss) Margin (12)% NM 8 % 25 % Adjusted EBITDA Margin 8 % NM 22 % 30 % Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including the impact of our operating and debt restructurings, results of our resumption of marketing spend, and our liquidity. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. The results anticipated by any or all of these forward-looking statements might not occur. Important factors, uncertainties and risks that may cause actual results to differ materially from these forward-looking statements include, without limitation, the impact from our fourth restructuring plan, the effectiveness of our future marketing, our ability to sublease our remaining leases other than our executive offices and necessary space used by AU and USU, the continued high demand for nurses for our new programs and in general, student attrition, national and local economic factors including the labor market shortages, and competition from other online universities including the competitive impact from the trend of major non-profit universities using online education. . We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise. About Aspen Group, Inc. Aspen Group, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, Aspen University and United States University, to deliver on the vision of making college affordable again. Investor Relations Contact Kim Rogers Managing Director Hayden IR 385-831-7337 Kim@HaydenIR.com GAAP Financial Statements ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS October 31, 2024 April 30, 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 827,780 $ 1,531,425 Restricted cash 338,002 1,088,002 Accounts receivable, net of allowance of $5,436,207 and $4,560,378, respectively 18,463,099 19,686,527 Prepaid expenses 674,081 502,751 Other current assets 986,357 1,785,621 Total current assets 21,289,319 24,594,326 Property and equipment: Computer equipment and hardware 888,566 886,152 Furniture and fixtures 1,974,271 1,974,271 Leasehold improvements 4,594,239 6,553,314 Instructional equipment 529,299 529,299 Software 9,347,651 8,784,996 17,334,026 18,728,032 Less: accumulated depreciation and amortization (10,348,986 ) (9,542,520 ) Total property and equipment, net 6,985,040 9,185,512 Goodwill 5,011,432 5,011,432 Intangible assets, net 7,900,000 7,900,000 Courseware and accreditation, net 333,120 363,975 Long-term contractual accounts receivable 18,619,202 17,533,030 Operating lease right-of-use assets, net 5,512,553 10,639,838 Deposits and other assets 693,193 718,888 Total assets $ 66,343,859 $ 75,947,001 ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (CONTINUED) October 31, 2024 April 30, 2024 (Unaudited) Liabilities and Stockholders' Equity Liabilities: Current liabilities: Accounts payable $ 1,238,506 $ 2,311,360 Accrued expenses 3,311,273 2,880,478 Advances on tuition 2,166,683 2,030,501 Deferred tuition 3,780,213 4,881,546 Due to students 2,293,614 2,558,492 Current portion of long-term debt 2,000,000 2,284,264 Operating lease obligations, current portion 2,498,289 2,608,534 Other current liabilities 511,449 86,495 Total current liabilities 17,800,027 19,641,670 Long-term debt, net 6,184,328 6,776,506 Operating lease obligations, less current portion 13,760,114 14,999,687 Put warrants liabilities 58,461 1,964,593 Other long-term liabilities 287,930 287,930 Total liabilities 38,090,860 43,670,386 Commitments and contingencies Stockholders' equity: Preferred stock, $0.001 par value; 1,000,000 shares authorized, 10,000 issued and 10,000 outstanding at October 31, 2024 and April 30, 2024 10 10 Common stock, $0.001 par value; 85,000 shares authorized, 26,959,681 issued and 26,959,681 outstanding at October 31, 2024 25,701,603 issued and 25,701,603 outstanding at April 30, 2024 26,960 25,702 Additional paid-in capital 122,170,403 121,921,048 Accumulated deficit (93,944,374 ) (89,670,145 ) Total stockholders' equity 28,252,999 32,276,615 Total liabilities and stockholders' equity $ 66,343,859 $ 75,947,001 ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended October 31, Six Months Ended October 31, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue $ 11,459,779 $ 13,828,847 $ 22,788,616 $ 28,468,719 Operating expenses: Cost of revenue (exclusive of depreciation and amortization shown separately below) 2,885,895 4,584,193 6,233,120 8,977,048 General and administrative 7,237,555 8,371,546 14,564,889 16,842,424 Impairments of right-of-use assets and tenant leasehold improvements 4,937,154 — 4,937,154 — Bad debt expense 450,000 450,000 900,000 900,000 Depreciation and amortization 794,895 950,090 1,614,899 1,913,302 Total operating expenses 16,305,499 14,355,829 28,250,062 28,632,774 Operating loss (4,845,720 ) (526,982 ) (5,461,446 ) (164,055 ) Other income (expense): Interest expense (342,490 ) (1,040,720 ) (689,660 ) (1,977,201 ) Change in fair value of put warrant liability 1,085,145 — 1,906,132 — Other income (expense), net 2,925 (4,035 ) 16,762 14,252 Total other income (expense), net 745,580 (1,044,755 ) 1,233,234 (1,962,949 ) Loss before income taxes (4,100,140 ) (1,571,737 ) (4,228,212 ) (2,127,004 ) Income tax expense 46,225 40,076 46,017 124,247 Net loss (4,146,365 ) (1,611,813 ) (4,274,229 ) (2,251,251 ) Dividends attributable to preferred stock (7,057 ) — (148,209 ) — Net loss available to common stockholders $ (4,153,422 ) $ (1,611,813 ) $ (4,422,438 ) $ (2,251,251 ) Net loss per share - basic and diluted available to common stockholders $ (0.16 ) $ (0.06 ) $ (0.17 ) $ (0.09 ) Weighted average number of common stock outstanding - basic and diluted 26,692,457 25,548,046 26,308,766 25,557,646 ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Six Months Ended October 31, 2024 2023 (Unaudited) (Unaudited) Cash flows from operating activities: Net loss $ (4,274,229 ) $ (2,251,251 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Bad debt expense 900,000 900,000 Depreciation and amortization 1,614,899 1,913,302 Stock-based compensation 190,836 305,581 Change in fair value of put warrant liability (1,906,132 ) — Amortization of warrant-based cost 7,000 14,000 Amortization of debt issuance costs — 156,020 Amortization of debt discounts — 193,020 Non-cash lease benefit 107,696 (399,201 ) Impairments of right-of-use assets and tenant leasehold improvements 4,937,154 — Changes in operating assets and liabilities: Accounts receivable (762,744 ) (5,763,185 ) Prepaid expenses (171,330 ) (19,140 ) Other current assets 799,264 (1,852,817 ) Deposits and other assets 25,695 (384,030 ) Accounts payable (1,072,854 ) 665,283 Accrued expenses 430,795 565,915 Due to students (264,878 ) (89,095 ) Advances on tuition and deferred tuition (965,151 ) 1,272,532 Other current liabilities 424,954 578,940 Net cash provided by (used in) operating activities 20,975 (4,194,126 ) Cash flows from investing activities: Purchases of courseware and accreditation (33,110 ) (120,863 ) Purchases of property and equipment (565,068 ) (558,565 ) Net cash used in investing activities (598,178 ) (679,428 ) Cash flows from financing activities: Repayment of portion of 15% Senior Secured Debentures (721,066 ) (100,000 ) Proceeds from 15% Senior Secured Debentures, net of original issuance discount and fees — 10,451,080 Repayment of 2018 Credit Facility — (5,000,000 ) Payments of debt issuance costs (155,376 ) (195,661 ) Net cash (used in) provided by financing activities (876,442 ) 5,155,419 ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) (Unaudited) Six Months Ended October 31, 2024 2023 (Unaudited) (Unaudited) Net (decrease) increase in cash, cash equivalents and restricted cash $ (1,453,645 ) $ 281,865 Cash, cash equivalents and restricted cash at beginning of period 2,619,427 5,724,467 Cash, cash equivalents and restricted cash at end of period $ 1,165,782 $ 6,006,332 Supplemental disclosure of cash flow information: Cash paid for interest $ 689,660 $ 1,639,701 Cash paid for income taxes $ 46,017 $ 24,525 Supplemental disclosure of non-cash investing and financing activities: Accrued dividends $ 148,209 $ — Relative fair value of warrants issued as part of the 15% Senior Secured Debentures $ — 154,000 The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying consolidated balance sheet to the total amounts shown in the accompanying unaudited consolidated statements of cash flows: October 31, 2024 2023 (Unaudited) (Unaudited) Cash and cash equivalents $ 827,780 $ 1,906,332 Restricted cash 338,002 4,100,000 Total cash, cash equivalents and restricted cash $ 1,165,782 $ 6,006,332 © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Trudeau says fall of Assad 'ends decades of brutal oppression' for SyriaColts QB Anthony Richardson questionable vs. Giants
Cincinnati Bengals quarterback Joe Burrow's home was broken into during Monday Night Football in the latest home invasion of a professional athlete in the US. No one was injured in the break-in, but the home was ransacked, according to a report provided by the Hamilton County Sheriff's Office. Burrow was away playing in a 27-20 win over the Dallas Cowboys in Texas. A person employed by Burrow arrived at the Anderson Township home on Monday night to find a shattered bedroom window and the home in disarray. Deputies weren't immediately able to determine what items were stolen and have reached out to neighbours in an attempt to piece together surveillance footage. The homes of Kansas Chiefs stars Patrick Mahomes and Travis Kelce were broken into in October. In the NBA, Milwaukee Bucks forward Bobby Portis had his home broken into November 2 and Minnesota Timberwolves guard Mike Conley Jr.'s home was burgled on September 15 while he was at a Minnesota Vikings game. Portis had offered a $40,000 reward for information. Both the NFL and NBA issued security alerts to players after those break-ins, urging them to take additional precautions to secure their homes. In league memos previously obtained by The Associated Press, the NFL said homes of professional athletes across multiple sports have become "increasingly targeted for burglaries by organized and skilled groups." And the NBA revealed that the FBI has connected some burglaries to "transnational South American Theft Groups" that are "reportedly well-organised, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices." Some of the burglary groups have conducted extensive surveillance on targets, including attempted home deliveries and posing as grounds maintenance or joggers in the neighborhood, according to officials.AP Sports SummaryBrief at 6:10 p.m. ESTEagles QB Tanner McKee gets 1st career TD football back with a little help from fans in the stands
Kaskade is set to open Decca Live, a new 1,000-capacity venue located at 323 E Bay Street in downtown Jacksonville, Fla., that organizers say will create a cutting-edge, immersive experience for fans of both underground and mainstream music acts. Launched by longtime Jacksonville promoter Eric Fuller of BLNK CNVS, the new venue features a steel megastructure as the main stage, a 360-degree mezzanine wrapping around the dance floor and a rooftop bar with stunning views of the St. Johns River and Jacksonville skyline. The architectural design was led by JAA Architecture, with interior design by Moyano Productions and production and stage design by Collyns Design Inc. Decca Live is spread over three floors, including a second-floor mezzanine level and a rooftop level with its own bar, entrances and exits. “We can open the rooftop bar through the venue or we can separate the space where the ground floor and the mezzanine are focused on concerts and the rooftop maintains a cocktail, loungy vibe where fans can go upstairs get some peace and quiet if they want to,” says Fuller. Kaskade will perform the first public concert at Decca Live on Jan. 31, 2025. Fuller built the venue from the ground up and sees it as a major cultural hub and economic milestone for the Northern Florida city, filling a long-standing void in the city’s music scene. “We’re going to book a little bit of everything — EDM, rock and even country music. We want it to be a room for everyone,” Fuller said. “The idea is to be an open room and serve as a beacon in the state where the room is always available to talented promoters.” Through BLNK CNVS, Fuller already serves as the largest independent promoter of Miami Music Week, hosting more than 35 events with more than 40,000 tickets sold last year. His partners in Decca Live include Jacksonville native Shawn Rouf and Evan Rajta. While BLNK CNVS will handle much of the in-house buying, Decca Live is an open building available to all promoters. Ticketing will be handled by Eventbrite. “Jacksonville as a city is at a tipping point,” says Rajta in a statement to Billboard . “The city is starving for new ideas and entertainment and that is exactly what we are creating with Decca Live. Our goal is simple: build a world class venue that will be here for decades to come.” Fuller is a graduate of Jacksonville’s University of North Florida and formerly served as COO at companies including Life In Color, Advanced Concert Productions, Club Space Miami and Celine Orlando. “Florida is a great state for touring and this room sounds incredible,” says Fuller. “We’ve put everything we have into this project and we’re excited to now share it with the rest of the world.” Check out concept art for Decca Live below.It's not a desirable position the Miami Dolphins find themselves in heading into their Sunday trip to face the Cleveland Browns. For the game to have playoff implications, Miami will need the Los Angeles Chargers and Denver Broncos to lose their Saturday games at New England and at Cincinnati, respectively. The Dolphins could also use an Indianapolis road defeat in the early-afternoon slot Sunday against the New York Giants so they could leapfrog the Colts in the playoff order. However, if the Dolphins (7-8) are eliminated before they take the field for their late-afternoon kickoff, coach Mike McDaniel is driving home a different message this week. "Our locker room and our coaching staff really wants to play the type of football that we felt we fell short of at portions of the season," he said. The most notable portion came after a Week 1 win over the Jacksonville Jaguars. Miami lost six of its next seven games, hampered on offense by a concussion that knocked out star quarterback Tua Tagovailoa and left its offense without much hope. Tagovailoa's return before a Week 8 loss to the Arizona Cardinals activated the attack, even though Miami lost that game and the next one. The Dolphins are 5-2 in their past seven contests, including a 29-17 home win over the San Francisco 49ers last week, when Tagovailoa threw for 215 yards and a touchdown while De'Von Achane accounted for 190 scrimmage yards. Like his coach, Tagovailoa wants to close the season strong, regardless of whether a playoff berth is at stake. "It's an opportunity and I don't think any of us on our team should take this for granted," said Tagovailoa, who was limited in practice on Thursday due to a hip injury. "How do you even know that there is going to be a next year for your career or there's going to be a next game for you? You just never know." While Miami hopes to have a chance at the playoffs, the only thing Cleveland (3-12) can do is find a rare winning feeling in a disappointing season. Expected to contend for a second straight playoff berth, the Browns instead have an outside chance to earn the No. 1 overall pick in April's NFL Draft. Cleveland is also on its third starting quarterback of the year. Second-year pro Dorian Thompson-Robinson gets the call with Jameis Winston (shoulder) ailing and Deshaun Watson (Achilles) out for the season. In a 24-6 road loss to the Cincinnati Bengals last week, Thompson-Robinson finished 20 of 34 for 166 yards while tossing two interceptions and absorbing five sacks. Thompson-Robinson, who was limited in practice on Thursday because of a quad issue, wants to do a better job avoiding those outcomes. The Dolphins' defense could help in that matter as they entered the weekend 26th in sacks (31) and tied for 22nd in interceptions (eight). "The quarterback rule that lives for a hundred years of don't throw late over the middle," Thompson-Robinson said when asked how he can avoid critical errors. "And really just trusting my legs, like I had been bragging about and talking about all last week. To be able to use it in that situation instead of trying to throw up a play." The game could be the last in Cleveland for Browns six-time Pro Bowl selection Joel Bitonio. The 33-year-old left guard, a two-time first-team All-Pro, said this week he is considering retirement, citing the toll the game takes on his body and that losing inflicts on his psyche. Miami holds a 10-9 lead in the teams' regular-season series. Four Dolphins -- tackle Terron Armstead (knee), cornerback Kendall Fuller (), safety Jordan Poyer (knee/finger) and linebacker Anthony Walker (knee) -- did not practice Thursday. Star wide receivers Tyreek Hill (wrist) and Jaylen Waddle (knee) were limited, as were receiver Dee Eskridge (knee), linebacker Jordyn Brooks (quad/knee) and fullback Alex Ingold (ankle). Tight end David Njoku (knee) and defensive end Ogbo Okoronkwo (knee) were absent from the Thursday practice for the Browns, while Winston (right shoulder), wideouts Cedric Tillman (concussion) and Jerry Jeudy (knee/shin), cornerback Martin Emerson Jr. (back) and offensive tackle Germain Ifedi (Achilles) were among those limited. --Field Level Media