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SCOTTSDALE, Ariz., Nov. 22, 2024 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”) the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, today announced that the holders of record of the Company’s 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Stock”) as of the close of business on December 2, 2024 will receive a cash dividend equal to $0.55902778 per Series A Preferred Stock share. The cash dividend will be paid on December 16, 2024. About AMMO, Inc. With its corporate offices headquartered in Scottsdale, Arizona, AMMO designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense. The Company was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. AMMO promotes its own branded munitions, including its patented STREAK TM Visual Ammunition, /stelTH/ TM subsonic munitions, and armor piercing rounds for military use. For more information, please visit: www.ammo-inc.com . About GunBroker.com GunBroker.com is the largest online marketplace dedicated to firearms, hunting, shooting and related products. Aside from merchandise bearing its logo, GunBroker.com currently sells none of the items listed on its website. Third-party sellers list items on the site and Federal and state laws govern the sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer agents. Launched in 1999, GunBroker.com is an informative, secure and safe way to buy and sell firearms, ammunition, air guns, archery equipment, knives and swords, firearms accessories and hunting/shooting gear online. GunBroker.com promotes responsible ownership of guns and firearms. For more information, please visit: www.gunbroker.com . Forward Looking Statements This document contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies, goals and objectives of management for future operations; any statements concerning proposed new products and services or developments thereof; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing. Forward looking statements may include the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words, or the negative thereof. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures and risk factors we include in Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports filed on Form 8-K. Investor Contact: CoreIR Phone: (212) 655-0924 IR@ammo-inc.com Source: AMMO, Inc.NEW YORK (AP) — U.S. stocks closed at more records after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street. The S&P 500 rose 0.6% to reach another all-time high. The Dow Jones Industrial Average added 0.3% to its own record set the day before, while the Nasdaq composite rose 0.6% as Big Tech stocks helped lead the way. Stock markets abroad saw mostly modest losses, after President-elect Trump said he plans to impose sweeping tariffs on Mexico, Canada and China as soon as he takes office. U.S. automakers and other companies that could be hurt particularly by such tariffs fell. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are rising toward records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.5% and was on track to top its all-time high set a couple weeks ago. The Dow Jones Industrial Average added 81 points, or 0.2%, to its own record set the day before, while the Nasdaq composite was 0.5% higher, with less than an hour remaining in trading. Stock markets abroad were down, but mostly only modestly, after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada's main index edged down by just 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. General Motors sank 8.2%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.9%. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support to the job market . While lower interest rates can boost the overall economy and prices for investments, they can also offer more fuel for inflation. “Many” officials at the Fed's last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. Unlike tariffs in Trump's first term, his proposal from Monday night would affect products across the board. Trump’s tariff talk came almost immediately after U.S. stocks rose Monday amid excitement about his pick for Treasury secretary, Scott Bessent. The hope was the hedge-fund manager could steer Trump away from policies that balloon the U.S. government deficit, which is how much more it spends than it takes in through taxes and other revenue. The talk about tariffs overshadowed another set of mixed profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates instituted by the Fed to get inflation under control. Kohl’s tumbled 17.6% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.7% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. J.M. Smucker jumped 5.4% for one of the biggest gains in the S&P 500 after topping analysts' expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 2.8% for Amazon and 2% for Microsoft were the two strongest forces lifting the S&P 500. In the bond market, Treasury yields rose following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury climbed to 4.30% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It's since dipped back toward $91,600, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed.
A new Gold Rush is taking shape on a quiet stretch of Kansas prairie. There, a clutch of startups backed by the likes of Bill Gates are searching below the surface for naturally occurring hydrogen, a fuel that can generate power without adding to climate change. Finding it in vast quantities would revolutionize the energy transition. But the hunt is clean energy wildcatting, with a real possibility of failure — and the added risk of diverting limited climate venture capital at a time when the world needs proven emissions-cutting technologies. Kansas sits atop a geological quirk: The Midcontinent Rift is a subterranean scar a billion years old created when North America started to split down the middle and then stopped. Iron-rich rocks within the rift can produce hydrogen when exposed to water, pressure and heat. And records left over from several old oil exploration wells in the area decades ago show the gas is — or at least was — present. Other sites around the world also offer tantalizing hints of housing the lightest element in the universe, and the search is starting to attract money. One company, Koloma, has raised more than $300 million, including from Bill Gates’ Breakthrough Energy Ventures. Mining giant Fortescue Ltd. recently spent $22 million to buy a 40% stake in Australia-based HyTerra, one of the startups looking in Kansas. All told, approximately 50 geologic hydrogen companies are in operation, including explorers, equipment makers, and oil and gas conglomerates funding research, according to BNEF. Naturally occurring hydrogen holds the potential for what Wood Mackenzie analyst Richard Hood calls a “Spindletop moment,” referring to the 1901 Texas oil gusher that helped create the modern world. If it exists in commercial quantities, pumping hydrogen from the ground would be cheaper than stripping it from water using electricity and cleaner than making it from natural gas, the most common method. “No question, there’s risk,” said Bruce Nurse, co-founder of PureWave Hydrogen, which has leased sites in three Kansas counties for exploration. “But it’s an energy source we need to go after here in the U.S., because manufactured hydrogen is not going to cut it.” Recently, scientists have begun earnestly attempting to answer how much hydrogen is under the Earth’s surface. Geoffrey Ellis is at the forefront of that work. A research geologist for the United States Geological Survey (USGS), Ellis spent two decades researching petroleum geochemistry. About five years ago, Ellis pivoted to hydrogen when he heard about Mali. Mali is the great origin story of the quest for geologic hydrogen, which industry refers to as “white” and sometimes “gold.” In the late 1980s, residents of a village drilling for water in the West African country stumbled upon a pocket of gas. Not knowing what it was, they plugged it back up. Decades later, workers heard of this discovery and drilled a new well to uncover what they had hoped was natural gas, only to find nearly pure hydrogen. Ellis’s group has been modeling the subsurface globally, drawing on oil and gas industry tools and methods. His estimate is wide-ranging: anywhere from billions of tons on the conservative end to trillions of tons. Tapping even a fraction of the estimated hydrogen would meet hundreds of years of demand, Ellis said. He ascribes the several orders of magnitude of uncertainty to the nature of the model he and his team built, based on what is known about hydrogen and better-understood resources like petroleum. The question for him — and investors and companies — isn’t whether it exists, but how much of it is accessible and accumulated in large, pure quantities. The only way to know for sure is to start drilling. “You have to operate in uncertainty,” said Koloma’s Chief Business Officer Paul Harraka. To maximize their chances of success, prospectors are leaning on paper records in dusty archives and oil and gas documents that have mentioned accidental hydrogen discoveries. But they’re also using tech like sophisticated machine learning to identify what are known as “fairy circles” in satellite images. These circular depressions on the Earth’s surface sometimes emit hydrogen and could point to subsurface reservoirs. Viacheslav Zgonnik is the co-founder and former chief executive officer of Denver-based Natural Hydrogen Energy, which went prospecting in 2023 near Geneva, Nebraska. Drilling more than 11,000 feet into the ground, they found hydrogen, though Zgonnik declined to say how much. But he left the company this year to create a startup to provide software to companies looking for hydrogen deposits. “When there is a gold rush, you sell picks and shovels,” Zgonnik said. Most of the exploration happening today is in the U.S. and Australia, not just because there’s evidence hydrogen could exist underground but because of the two countries’ supportive regulatory environments. In the U.S., landowners have the rights to exploration permits rather than the state, a stark contrast to other countries where government-controlled licenses can result in long delays. As a result of all these factors, many wildcatters are concentrated in Kansas and other states along the Midcontinent Rift. “It's expensive, and you can't just go digging random holes in the ground,” said Mark Gudiksen, a managing partner at venture firm Piva Capital, which invested in Koloma. “So you have to be thoughtful about using all of the tricks of the trade.” Even if prospectors hit hydrogen, its commercial prospects are highly uncertain. The reason green hydrogen produced by renewable energy hasn’t taken off yet is because of its high cost. The Department of Energy has set a goal for hydrogen producers and prospectors to get costs down to $1 per kilogram. That would unlock a wave of demand critical to growing the hydrogen industry, which is currently lacking. The world currently uses about 94 million metric tons of hydrogen per year, according to BloombergNEF. The research firm forecasts that for the global economy to reach net-zero emissions by mid-century, hydrogen use will rise slowly, hitting 118 million metric tons in 2030, before entering a period of rapid growth. Worldwide use could reach 234 million metric tons in 2040 and 390 million metric tons in 2050, according to BNEF's New Energy Outlook 2024. “The market is really, really, really big if the unit economics work,” said Mark Daly, head of technology and innovation at BloombergNEF. But that’s a big “if.” One critical cost factor: purity. The well in Mali is nearly 100% pure hydrogen. But hydrogen is often co-located with other gasses, including helium. Australian company Gold Hydrogen, for example, said it found hydrogen as well as high levels of helium in initial drill tests conducted in 2023 on South Australia’s Yorke Peninsula and is now working to drill its first new wells. While helium is a valuable product, separating the two gasses adds expense. One of the biggest complications to bringing down costs is transport, which involves compressing the gas into a liquid and trucking it or moving it through underground pipelines. Both are expensive and in the case of pipelines, closer to fantasy than reality. At high pressure, hydrogen can react with steel pipes, causing them to become brittle and crack. There’s also the potential for hydrogen leakage, an issue that scientists and startups haven’t yet properly confronted. Hydrogen “is a very promiscuous gas. It diffuses all over the place,” said Douglas Wicks, a program director at the Energy Department’s Advanced Research Projects Agency-Energy (ARPA‐E) who’s in charge of two geologic hydrogen research programs. Transporting hydrogen makes sense economically within a 100-kilometer radius, said Daly. He pointed out that raising enough money to build a pipeline requires evidence that the resource it’s transporting will exist for 20 to 40 years. Many startups exploring in Kansas and Nebraska could overcome transportation issues by selling it locally. The states are two top agricultural producers, and companies see farmers as their biggest potential customers. Hydrogen discovered in the region could be converted to ammonia, which is widely used to make fertilizer. “There’s absolutely a chance we may lose all our money.” The myriad unknowns are not stopping wildcatters. They’re also not stopping venture capitalists and large corporate investors alike from placing big bets. One of the industry’s biggest boosters is also one of the most influential climate tech investors in Breakthrough Energy Ventures. “The discovery of geologic hydrogen could be one of the single most important events in our lifetimes, and perhaps the lifetimes of our children,” said the firm’s technical lead Eric Toone in a speech at the Breakthrough Energy Summit in London in June. “It offers the possibility of limitless zero-carbon reactive chemical energy.” That’s part of the reason the firm participated in Koloma’s $245 million Series B round, making it one of the biggest startups on the hydrogen frontier. Still, investors acknowledge that the territory still comes with many unanswered questions, enough to give many others pause. If Koloma succeeds, “that changes the cost structure of hydrogen,” said Gudiksen. But he also sounded a cautionary note: “There's absolutely a chance we may lose all our money.”European parliament members criticize EU's 'double standards' on ICC arrest warrants for Israeli premierHOULTON – Katahdin Bankshares Corp. (OTCQX: KTHN), parent company of Katahdin Trust Company, announced that it has declared a cash dividend of $0.175 per share for the fourth quarter of 2024. The dividend will be payable on December 20, to shareholders of record as of December 13. This dividend represents a 15.1 percent increase over last year’s fourth-quarter dividend. Katahdin Bankshares Corp. is the bank holding company of Katahdin Trust Company. Founded in 1918, Katahdin Trust is a community bank based in Houlton, Maine with 16 locations and more than $1.05 billion in assets. Katahdin Bankshares Corp. common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN. Learn more about the Company and its subsidiary bank at www.katahdintrust.com and follow Katahdin Trust on social media.