
AP News Summary at 2:20 p.m. ESTWOBURN, Mass., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. BLIN , a global leader in AI-powered marketing technology, today announced financial results for its fiscal fourth quarter ended September 30, 2024. "HawkSearch is the leader in AI-powered product discovery. This year we nearly doubled our sales contracts, launched a new HawkSearch site every week, had better than 103% net revenue retention for HawkSearch, and released 5 AI products under the HawkSearch brand," said Ari Kahn, Bridgeline's President and Chief Executive Officer. "We begin 2025 with the largest sales pipeline in the company's history, an AI product suite that both existing customer and new customers need, and an outstanding industry reputation from customers and analysts." Financial Highlights – Fourth Quarter of Fiscal Year 2024 Total revenue was $3.9 million, compared to $3.8 million in the prior year period. Subscription and licenses revenue was $3.0 million, compared to $3.1 million in the prior year period. Gross profit was $2.7 million, compared to $2.6 million in the prior year period. Gross margin was 69% compared to 68% in the prior year period. Financial Highlights – Fiscal Year 2024 Total revenue was $15.4 million, compared to $15.9 million in the prior year period. Subscription and licenses revenue was $12.1 million, compared to $12.7 million in the prior year period. Gross profit was $10.4 million, compared to $10.9 million in the prior year period. Gross margin was 68% compared to 68% in the prior year period. Sales Highlights In the fourth quarter of fiscal year 2024, Bridgeline signed 17 license sales, adding over $360 thousand in annual recurring revenue. For fiscal year 2024, Bridgeline signed 83 license sales, adding $2.1 million in annual recurring revenue, totaling $6.2 million in new customer contracts. Demand for AI-powered search is transforming sales, as companies align with customer expectations for smarter search experiences. This surge in demand for higher quality search is driving upgrades to Bridgeline's HawkSearch platform. Product Highlights The Hawk AI Product Suite now includes advanced features like Smart Search, Smart Response, and Smart Tools. A new Smart Agent lets users adjust prompts and foundation model settings through an intuitive interface to optimize interactions with Hawk AI. HawkSearch launched Conversational Search. Powered by GenAI, this feature uses NLP to interpret user intent and phrasing, transforming searches into conversational interactions with accurate, meaningful results. HawkSearch launched Smart Facets for Concept Search. Powered by GenAI, Smart Facets transforms the search experience by enabling users to ask detailed, context-rich questions that automatically select relevant search facets. HawkSearch announced a new Smart Response feature that analyzes PDF content and delivers specific answers to user queries. The innovation includes tools for extracting content from large PDF repositories and using GenAI to create helpful search features such as thumbnails of PDFs, summaries of pages within each PDF, and extraction of other important metadata such as file names and categorization. HawkSearch's Rapid UI Framework had a major update launched, which included a new GenAI capability component that accelerates the integration of Smart Response into search interfaces. Partner Highlights Optimizely is promoting HawkSearch as a top paid app in their app store and HawkSearch-AI was showcased at Opticon 2024 in San Antonio, Texas in November. HawkSearch announced a leading distributor of fasteners and industrial supplies has selected HawkSearch to enhance their on-site search capabilities. This distributor, the first lead from our partner Xngage, will use HawkSearch to power their product discovery on the Optimizely platform using the Xngage XConnect connector for HawkSearch. HawkSearch was named Moblico Partner of the Year. Moblico's integration of HawkSearch's AI capabilities enhances mobile engagement for distributors, optimizing real-time shopping experiences and increasing customer retention. This collaboration allows distributors to provide personalized customer experiences, leading to increased revenue and stronger market positioning. Product Genius Technology, a leading provider of innovative solutions with decades of experience in the fastener industry, partnered with HawkSearch to provide patented search technology to enhance customer engagement and drive sales by simplifying the search, sort and display of complex product categories. Human Element, Inc., a leading eCommerce services agency, will leverage HawkSearch AI-powered search technology to enhance customer engagement and drive sales for eCommerce platforms. Human Element will partner with HawkSearch to expand its offerings for B2B and B2C merchants to include AI-powered search technology, and the partnership gives Adobe Commerce (Magento), BigCommerce, and Shopify platform users easy access to HawkSearch's AI-powered search. Customer Highlights Duda has expanded its partnership with the WooRank SEO platform. The agency now offers WooRank's SEO insights and performance data as part of its top-tier SEO package, enhancing its clients' digital marketing strategies. An aftermarket automotive truck parts retailer has chosen HawkSearch to power product discovery for its eCommerce website. The retailer is set to boost sales using HawkSearch's AI-powered Smart Search which allows customers to enter a concept or question into the search bar and receive more accurate, relevant results tailored to the customer's query. A top 10 U.S. electrical distributor has expanded its license with HawkSearch to enhance its Salesforce B2B Commerce experience. HawkSearch will support over 740 profit centers, improving the distributor's product discovery with the Unit of Measure Conversion feature, while providing additional hosting services to address growing traffic demands. A leader in fastener distribution has selected HawkSearch to enhance its search experience across 15 countries and 12 languages, leveraging HawkSearch's Keyword & Concept Search to improve product discovery. Additionally, it will optimize part number searches, ensure accurate results for terms with varying spacing, support different format variations, and incorporate advanced machine learning and reporting capabilities. A leading manufacturer and distributor of life safety gear, equipment, and training for first responders selected HawkSearch to improve their on-site search and merchandising powered by Salesforce Commerce Cloud. The manufacturer will also leverage Instant Engage for surfacing trending items, categories, and content as soon as the user clicks on the search box. A prominent supplier in the construction materials testing equipment industry has selected HawkSearch and will leverage Instant Engage and Autocomplete to display popular products, category pages, and relevant content as soon as users interact with the search bar. A leading wholesale hardware distributor has selected HawkSearch to deliver an improved product discovery experience with highly relevant, accurate search results and personalized recommendations for their Optimizely Configured Commerce site. Financial Results – Fourth Quarter of Fiscal Year 2024 Total revenue, which is comprised of Licenses and Services revenue, was $3.9 million for the quarter ended September 30, 2024, as compared to $3.8 million for the same period in 2023. Subscription and licenses revenue, which is comprised of SaaS licenses, maintenance and hosting revenue and perpetual license revenue was $3.0 million for the quarter ended September 30, 2024, as compared to $3.1 million for the same period in 2023. As a percentage of total revenue, Subscription and licenses revenue was 78% of total revenue for the quarter ended September 30, 2024, compared to 81% for the same period in 2023. Services revenue was $0.8 million for the quarter ended September 30, 2024, as compared to $0.7 million for the same period in 2023. As a percentage of total revenue, Services revenue accounted for 22% of total revenue for the quarter ended September 30, 2024, compared to 19% for the same period in 2023. Cost of revenue was $1.2 million for the quarter ended September 30, 2024, as compared to $1.2 million for the same period in 2023. Gross profit was $2.7 million for the quarter ended September 30, 2024, as compared to $2.6 million for the same period in 2023. Gross margin was 69% for the quarter ended September 30, 2024, as compared to 68% for the same period in 2023. Subscription and licenses gross margin was 72% for three months ended September 30, 2024, as compared to 73% for the same period in 2023. Services gross margin was 58% for the three months ended September 30, 2024, as compared to 46% for the same period in 2023. Operating expenses were $3.1 million for the quarter ended September 30, 2024, as compared to $10.8 million for the same period in 2023 which included a goodwill impairment of $7.5 million. Operating loss for the quarter ended September 30, 2024 was $0.5 million, as compared to $8.2 million for the same period in 2023 which included the impact of a goodwill impairment. The warrant liability revaluation resulted in a nominal non-cash loss attributable to the change in the fair value of the warrant liabilities for the quarter ended September 30, 2024. This compares to a non-cash gain from revaluation of $0.2 million for the same period in 2023. Net loss for the quarter ended September 30, 2024, was $0.4 million, compared to a net loss of $8.1 million for the same period in 2023 which included the impact of goodwill impairment. Financial Results – Year-to-Date Twelve Months of Fiscal Year 2024 Total revenue, which is comprised of Licenses and Services revenue, was $15.4 million for the twelve months ended September 30, 2024, as compared to $15.9 million for the same period in 2023. Subscription and licenses revenue, which is comprised of SaaS licenses, maintenance and hosting revenue and perpetual license revenue was $12.1 million for the twelve months ended September 30, 2024, as compared to $12.7 million for the same period in 2023. As a percentage of total revenue, Subscription and licenses revenue was 79% of total revenue for the twelve months ended September 30, 2024, compared to 80% for the same period in 2023. Services revenue was $3.2 million for the twelve months ended September 30, 2024, as compared to $3.1 million for the same period in 2023. As a percentage of total revenue, Services revenue accounted for 21% of total revenue for the twelve months ended September 30, 2024, compared to 20% for the same period in 2023. Cost of revenue was $4.9 million for the twelve months ended September 30, 2024, as compared to $5.0 million for the same period in 2023. Gross profit was $10.4 million for the twelve months ended September 30, 2024, as compared to $10.9 million for the same period in 2023. Gross margin was 68% for the twelve months ended September 30, 2024, as compared to 68% for the same period in 2023. Subscription and licenses gross margin were 72% for the twelve months ended September 30, 2024, as compared to 74% for the same period in 2023. Services gross margin was 52% for the twelve months ended September 30, 2024, as compared to 48% for the same period in 2023. Operating expenses were $12.5 million for the twelve months ended September 30, 2024, as compared to $20.8 million for the same period in 2023 which included a goodwill impairment of $7.5 million. Operating loss for the twelve months ended September 30, 2024, was $2.0 million, as compared to an operating loss of $9.9 million for the same period in 2023 which included the impact of the goodwill impairment. The warrant liability revaluation resulted in a $0.1 million non-cash gain attributable to the change in the fair value of the warrant liabilities for the twelve months ended September 30, 2024. This compares to a non-cash gain the change in the fair value of $0.6 million for the same period in 2023. Net loss for the twelve months ended September 30, 2024, was $2.0 million, compared to a net loss of $9.4 million for the same period in 2023, which included the impact of the goodwill impairment. Conference Call Bridgeline Digital, Inc. will hold a conference call today, December 23, 2024, at 4:30 p.m. Eastern Time to discuss these results. The Company's President and Chief Executive Officer, Ari Kahn, and Chief Financial Officer, Thomas Windhausen, will host the call, followed by a question-and-answer period. The details of the conference call and replay are as follows: Bridgeline Digital Fourth Quarter 2024 Earnings Call Monday, December 23, 2024, at 4:30 p.m. ET Registration: https://register.vevent.com/register/BIa2b7e1f034b94ac0a2c6017e5f9e8d15 Listen Only: https://edge.media-server.com/mmc/p/7vs4y5pi Participants can register for the conference call using the above URL above. Once registered, participants will receive dial-in numbers and unique PIN number. Non-GAAP Financial Measures This press release contains the following Non-GAAP financial measures: Adjusted EBITDA, Non-GAAP adjusted net income (loss), and Non-GAAP adjusted net earnings (loss) per diluted share. Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization, stock-based compensation expense, impairment of goodwill and intangible assets, non-cash warrant related income/expense, changes in fair value of contingent consideration, restructuring and acquisition-related costs, amortization of debt discounts, preferred stock dividends and any related tax effects. Bridgeline uses Adjusted EBITDA and Non-GAAP adjusted net income (loss) as supplemental measures of our performance that are not required by, or presented in accordance with, accounting principles generally accepted in the United States ("GAAP"). Non-GAAP adjusted net income (loss) and Non-GAAP adjusted net income (loss) per diluted share are calculated as net income (loss) or net income (loss) per share on a diluted basis, excluding, where applicable, amortization of intangible assets, change in fair value of warrants, stock-based compensation, restructuring and acquisition-related costs, goodwill impairment charges, preferred stock dividends and any related tax effects. Bridgeline's management does not consider these Non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these Non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these Non-GAAP financial measures. To compensate for these limitations, Bridgeline management presents Non-GAAP financial measures in connection with GAAP results. Bridgeline urges investors to review the reconciliation of its Non-GAAP financial measures to the comparable GAAP financial measures, which is included in this press release, and not to rely on any single financial measure to evaluate Bridgeline's financial performance. Our definitions of Non-GAAP Adjusted EBITDA and adjusted net income (loss) may differ from and therefore may not be comparable with similarly titled measures used by other companies, thereby limiting their usefulness as comparative measures. As a result of the limitations that Adjusted EBITDA and Non-GAAP adjusted net income (loss) have as an analytical tool, investors should not consider them in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Safe Harbor for Forward-Looking Statements Statement under the Private Securities Litigation Reform Act of 1995 All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These statements appear in a number of places and include statements regarding the intent, belief or current expectations of Bridgeline Digital, Inc. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions, including, but not limited to, business operations and the business of our customers, suppliers and partners; our ability to retain and upgrade current customers, increasing our recurring revenue, our ability to attract new customers, our revenue growth rate; our history of net loss and our ability to achieve or maintain profitability, instability in the financial markets, including the banking sector; our liability for any unauthorized access to our data or our users' content, including through privacy and data security breaches; any decline in demand for our platform or products; changes in the interoperability of our platform across devices, operating systems, and third party applications that we do not control; competition in our markets; our ability to respond to rapid technological changes, extend our platform, develop new features or products, or gain market acceptance for such new features or products, particularly in light of potential disruptions to the productivity of our employees resulting from remote work; our ability to manage our growth or plan for future growth, and our acquisition of other businesses and the potential of such acquisitions to require significant management attention, disrupt our business, or dilute stockholder value; the volatility of the market price of our common stock, the ability to maintain our listing on the NASDAQ Capital Market; or our ability to maintain an effective system of internal controls as well as other risks described in our filings with the Securities and Exchange Commission. Any of such risks could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Bridgeline Digital, Inc. assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by applicable law. About Bridgeline Digital Bridgeline is a marketing technology company that offers a suite of products that help companies grow online revenue by driving more traffic to their websites, converting more visitors to purchasers, and increasing average order value. To learn more, please visit www.bridgeline.com or call (800) 603-9936. Contact: Bridgeline Digital, Inc. Thomas R. Windhausen Chief Financial Officer twindhausen@bridgeline.com BRIDGELINE DIGITAL, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) (Unaudited) ASSETS September 30, September 30, 2024 2023 Current assets: Cash and cash equivalents $ 1,390 $ 2,377 Accounts receivable, net 1,288 1,004 Prepaid expenses and other current assets 269 278 Total current assets 2,947 3,659 Property and equipment, net 74 151 Operating lease assets 163 390 Intangible assets, net 3,908 4,890 Goodwill, net 8,468 8,468 Other assets 42 73 Total assets $ 15,602 $ 17,631 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 282 $ 267 Current portion of operating lease liabilities 157 148 Accounts payable 1,112 1,255 Accrued liabilities 988 995 Deferred revenue 2,189 2,084 Total current liabilities 4,728 4,749 Long-term debt, net of current portion 244 435 Operating lease liabilities, net of current portion 6 241 Warrant liabilities 98 174 Other long-term liabilities 520 572 Total liabilities 5,596 6,171 Commitments and contingencies Stockholders' equity: Preferred stock - $0.001 par value; 1,000,000 shares authorized; Series C Convertible Preferred stock: 11,000 shares authorized; 350 shares issued and outstanding at September 30, 2024 and 2023 - - Series D Convertible Preferred stock: 4,200 shares authorized; no shares issued and outstanding at September 2024 and 2023 Common stock - $0.001 par value; 50,000,000 shares authorized;10,417,609 shares issued and outstanding at September 30, 2024 and 2023 10 10 Additional paid-in-capital 101,833 101,275 Accumulated deficit (91,538 ) (89,577 ) Accumulated other comprehensive loss (299 ) (248 ) Total stockholders' equity 10,006 11,460 Total liabilities and stockholders' equity $ 15,602 $ 17,631 BRIDGELINE DIGITAL, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share data) (Unaudited) Three Months Ended Twelve Months Ended September 30, September 30, 2024 2023 2024 2023 Revenue: Subscription and perpetual licenses $ 3,025 $ 3,072 $ 12,134 $ 12,742 Digital engagement services 838 726 3,224 3,143 Total net revenue 3,863 3,798 15,358 15,885 Cost of revenue: Subscription and perpetual licenses 859 815 3,392 3,364 Digital engagement services 352 391 1,532 1,650 Total cost of revenue 1,211 1,206 4,924 5,014 Gross profit 2,652 2,592 10,434 10,871 Operating expenses: Sales and marketing 912 965 3,715 4,757 General and administrative 857 806 3,282 3,173 Research and development 1,022 1,070 4,160 3,679 Depreciation and amortization 201 385 1,086 1,528 Goodwill impairment - 7,517 - 7,517 Restructuring and acquisition related expenses 142 75 210 132 Total operating expenses 3,134 10,818 12,453 20,786 Loss from operations (482 ) (8,226 ) (2,019 ) (9,915 ) Interest expense and other, net (3 ) (170 ) (61 ) (189 ) Change in fair value of warrant liabilities (5 ) 214 76 575 Income (loss) before income taxes (490 ) (8,182 ) (2,004 ) (9,529 ) Provision for (benefit from) income taxes (58 ) (119 ) (43 ) (94 ) Net (loss) income $ (432 ) $ (8,063 ) $ (1,961 ) $ (9,435 ) Net (loss) income per share attributable to common shareholders: Basic net (loss) income per share $ (0.04 ) $ (0.77 ) $ (0.19 ) $ (0.91 ) Diluted net (loss) income per share $ (0.04 ) $ (0.77 ) $ (0.19 ) $ (0.91 ) Number of weighted average shares outstanding: Basic 10,417,609 10,417,609 10,417,609 10,417,609 Diluted 10,417,609 10,417,609 10,417,609 10,424,187 BRIDGELINE DIGITAL, INC. RECONCILIATION OF GAAP TO NON-GAAP RESULTS (in thousands, except per share data) (Unaudited) Three Months Ended Twelve Months Ended September 30, September 30, 2024 2023 2024 2023 Reconciliation of GAAP net income (loss) to Adjusted EBITDA: GAAP net loss $ (432 ) $ (8,063 ) $ (1,961 ) $ (9,435 ) Provision for income taxes (58 ) (119 ) (43 ) (94 ) Interest expense and other, net 3 170 61 189 Change in fair value of warrants 5 (214 ) (76 ) (575 ) Amortization of intangible assets 186 346 982 1,378 Depreciation and other amortization 22 45 130 177 Goodwill impairment - 7,517 - 7,517 Restructuring and acquisition related charges 142 75 210 132 Stock-based compensation 137 126 505 402 Adjusted EBITDA $ 5 $ (117 ) $ (192 ) $ (309 ) Reconciliation of GAAP net income (loss) to non-GAAP adjusted net income (loss): GAAP net loss $ (432 ) $ (8,063 ) $ (1,961 ) $ (9,435 ) Change in fair value of warrants 5 (214 ) (76 ) (575 ) Amortization of intangible assets 186 346 982 1,378 Goodwill impairment - 7,517 - 7,517 Restructuring and acquisition related charges 142 75 210 132 Stock-based compensation 137 126 505 402 Non-GAAP adjusted net loss $ 38 $ (213 ) $ (340 ) $ (581 ) Reconciliation of GAAP net earnings (loss) per diluted share to non-GAAP adjusted net earnings (loss) per diluted share: GAAP net loss per diluted share $ (0.04 ) $ (0.77 ) $ (0.19 ) $ (0.91 ) Change in fair value of warrants 0.00 (0.02 ) (0.01 ) (0.06 ) Amortization of intangible assets 0.02 0.03 0.09 0.13 Goodwill impairment - 0.72 - 0.72 Restructuring and acquisition related charges 0.01 0.01 0.02 0.01 Stock-based compensation 0.01 0.01 0.05 0.04 Non-GAAP adjusted net loss per diluted share $ 0.00 $ (0.02 ) $ (0.03 ) $ (0.06 ) © 2024 Benzinga.com. 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Boston, MA, Dec. 18, 2024 (GLOBE NEWSWIRE) — MiniLuxe Holding Corp. (the “Company”) (TSXV: MNLX) today announces that as part of its standard disclosures, the Company has granted 1,103,269 options (against ~145M fully diluted shares) to certain leadership team members of the Company as part of its ongoing incentive program to award equity of options in lieu of cash compensation. The average strike price for these options is .36 CDN reflecting the price of MNLX at the time cash compensation was forgone by employees. In certain cases of senior leadership, equity-based options make up to 30 to 100 percent of an executive’s base salary compensation. Any new option awards continue to draw from the existing employee incentive pool with no net new incremental dilution to shareholders. There was delay in the formal announcement and grant of the options given that the Company was waiting for options to be returned to the pool to avoid any shareholder dilution that might come from an expansion of the pool. The options are subject to a 1-year cliff vesting schedule and are exercisable for subordinate voting shares of the Company for a period of 10 years following the date of grant. , a Delaware corporation based in Boston, Massachusetts. MiniLuxe is a lifestyle brand and talent empowerment platform servicing the beauty and self-care industry. The Company focuses on delivering high-quality nail care and esthetic services and offers a suite of trusted proprietary products that are used in the Company’s owned-and-operated studio services. For over a decade, MiniLuxe has been elevating industry standards through healthier, ultra-hygienic services, a modern design esthetic, socially responsible labor practices, and better-for-you, cleaner products. MiniLuxe aims to radically transform a highly fragmented and under-regulated self-care and nail care industry through its brand, standards, and technology platform that collectively enable better talent and client experiences. In addition to creating long-term durable economic returns for stakeholders, MiniLuxe is expanding its reach through franchising, offering entrepreneurs the opportunity to partner with a brand recognized as the . MiniLuxe seeks to empower one of the most diverse and largest hourly worker segments through professional development, economic mobility, and ownership opportunities. For its clients, MiniLuxe offers best-in-class self-care services and better-for-you products, and for nail care and beauty professionals, MiniLuxe seeks to become the employer of choice. Since its inception, MiniLuxe has performed over 4 million services. Christine Mastrangelo Investor Relations, MiniLuxe Holding Corp. MiniLuxe.com
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Galaxy Asset Management: November 2024 Month End AUMAttorneys for President-elect Donald Trump are scrambling to get his felony hush money conviction tossed before his inauguration — and they are doing whatever it takes to make their case. In a New York court filing made public on Tuesday, Trump’s attorneys argue that the case against their client should be dismissed in part because of President Joe Biden ’s decision to pardon his son Hunter Biden , which Trump’s legal team says amounts to an “extraordinary condemnation” of his own Justice Department. “In issuing a 10-year pardon to Hunter Biden that covers any and all crimes whether charged or uncharged, President Biden asserted that his son was ‘selectively, and unfairly, prosecuted,’ and ‘treated differently,’” Trump’s attorneys — including Todd Blanche , his pick for deputy attorney general — wrote, adding that “President Biden argued that ‘raw politics has infected this process and it led to a miscarriage of justice.’” “These comments amounted to an extraordinary condemnation of President Biden’s own DOJ,” the filing continued. “This is the same DOJ that coordinated and oversaw the politically-motivated, election-interference witch hunts targeting President Trump by disgraced Special Counsel Jack Smith, the other biased prosecutors in Smith’s Special Counsel’s Office (‘SCO’), and others. This is the same DOJ that sent Matthew Colangelo to DA Bragg to help unfairly target President Trump in this empty and lawless case.” To be clear, the Department of Justice did not oversee the case being challenged in court. The charges were brought by Manhattan District Attorney Alvin Bragg, and in May a jury convicted on 34 felony counts of falsifying business records related to a hush money scheme involving porn star Stormy Daniels ahead of the 2016 election. After winning a series of successful delays — and a victory in November’s presidential election — Trump’s attorneys managed to indefinitely postpone the sentencing phase of his conviction. While the president-elect’s attorneys highlighted Hunter Biden’s pardon in the thorny introduction to their motion, the core of their argument for why the case should be dismissed lies elsewhere. Trump’s lawyers highlight two major factors influencing the future of the case: a Supreme Court decision granting Trump widespread immunity from prosecution over crimes related to his official conduct as president, and the fact that in a few short weeks he will actually, once again, be the president. Trump and his team have been doing what they can to make hay out of Biden pardoning his son. Trump responded to the news by wondering if Biden also pardoned the Jan. 6 rioters, whom Trump is widely expected to let off the hook once he takes off. Trump has also been fundraising off Biden’s decision. “Do you remember when Biden said he would never pardon Hunter?” one fundraising email read. “That was a lie!”
Adani Group 's ambitious plan to invest more than $100 billion (~₹85,000 crore) in the energy transition business and scale up its renewable energy operations over the next decade could face delays following the indictment of the conglomerate and its founder-chairman Gautam Adani by the US Department of Justice and the Securities and Exchange Commission, according to analysts. The majority of the investment is geared towards building facilities to manufacture electrolysers for producing green hydrogen , wind power turbines, and solar panels, besides establishing solar parks. Adani Group's renewable energy arm Adani Green Energy (AGEL), also India's largest renewable energy company, follows a debt-fuelled growth model with a 70:30 debt-equity structure like most peers. "Funding channels will inevitably squeeze across the Adani Group, with creditors likely to reduce or limit their group-wide exposure," said research firm CreditSights, adding Adani Green has the weakest liquidity and credit fundamentals in the conglomerate, and given the US indictment is centred on AGEL, its fundraising plans may hit a roadblock. AGEL has a short-term debt of about $2 billion, largely in the form of project loans, with refinancing emerging as the biggest concern in the near term. 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View Program Web Development JavaScript Essentials: Unlock AI-Driven Insights with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Strategy ESG and Business Sustainability Strategy By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader View Program Office Productivity Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View Program Web Development Advanced C++ Mastery: OOPs and Template Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Leadership Validating Your Startup Idea: Steps to Ensure Market Fit By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience View Program Finance A2Z Of Finance: Finance Beginner Course By - elearnmarkets, Financial Education by StockEdge View Program Leadership Building Your Winning Startup Team: Key Strategies for Success By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience View Program CreditSights expects some contagion towards other Adani sister entities, though the impact should be more manageable for Adani Ports and SEZ given the larger more established nature of its port assets, as well as its materially stronger credit metrics, stable earnings, and free cash flows. 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The Gunners took two points out of Liverpool’s lead at the summit of the Premier League after Jurrien Timber and William Saliba struck in the second half – both from corners – to condemn Amorim to his first defeat as United boss. The hosts’ second-half strikes took their goals-from-corners tally to 22 since the start of last season – a statistic that is unmatched by any other team in the division. Asked if Arsenal are one of the best teams he has come up against on corners, Amorim replied: “If you follow the Premier League for a long time you can see that. “They are also big players and you see every occasion when (Gabriel) Martinelli and (Bukayo) Saka have one-on-ones, a lot of times they go outside and they cross, and they know that if the cross goes well, they can score, and if it is a corner they can score, too, so we have to be better on that. “You have seen in all Arsenal games that every team have had problems with that (corners). And the difference today was the set-pieces. “You see a goal and then the momentum changed, and it is really hard for us to take the full control of the game after that.” Timber leaned into Rasmus Hojlund at the front post before diverting Declan Rice’s set-piece into the back of Andre Onana’s net after 54 minutes to send Arsenal into the lead. Thomas Partey’s header from Saka’s corner then deflected in off Saliba’s shoulder with 17 minutes left. Arteta and the club’s set-piece guru Nicolas Jover embraced on the touchline as Amorim was left with his head in his hands. The Arsenal supporters cheered raucously every time they won a corner – landing 13 in all without reply. However, Arteta moved to play down the significance of Arsenal’s set-piece threat. “We need that, but we want to be very dangerous and very effective from every angle and every phase of play,” said Arteta. “Today we could have scored from open play like we did against West Ham and Sporting. Last year we scored the most goals in the history of this football club. Arsenal have won four consecutive Premier League matches against Man Utd for the first time ever! 💫 — Premier League (@premierleague) “Not because of only set-pieces, but because of a lot of things that we have. We want to create individual and magic moments, too.” Arsenal’s win against United – the first time they have recorded four victories in a row against the Red Devils in the league – was their fourth in succession since the international break. They will head to Fulham on Sunday bidding to keep the momentum going. Arteta continued: “The will to win is there. We try our best to do that. We won four in a row, but it doesn’t matter. We have to go to Fulham now, try to be better than them and try win the game. “It’s every three days that we play. It’s a crazy schedule. We’re going to need everybody and to mentally be very strong.”
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