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Windtree Therapeutics Reports Third Quarter 2024 Financial Results and Provides Key Business UpdatesJimmy Carter rose from a Georgia farm to become president of the United States and a Nobel Prize-winning peace and human rights activist. Carter became the nation's 39th president in 1977, defeating President Gerald Ford in the election more than two years after the Watergate scandal drove Richard Nixon from the Oval Office. He lived longer than any other U.S. president. Jimmy Carter, the Georgia peanut farmer who became a U.S. president and a Nobel Prize-winning activist for peace and human rights, has died. He was 100. Carter's post-presidency had been widely seen as more successful than his time in the White House, and he called it " more gratifying ." even into his 90s, crusading for human rights, writing books, building homes for the needy with his own hands, teaching Sunday school, and traveling the world in the pursuit of peace. Carter graduated from the United States Naval Academy, participated in the Navy's fledgling nuclear-powered submarine program, and served two terms as a Georgia state senator and one as governor before he was elected to the White House. He became the nation's 39th president in 1977, defeating President Gerald Ford in the election more than two years after the Watergate scandal drove Richard Nixon from the Oval Office. Carter had been on hospice care for more than a year. His family announced in February 2023 that he had entered end-of-life care in his home after a series of hospital visits. His wife, Rosalynn , who had been diagnosed with dementia in early 2023, briefly entered hospice herself at age 96 before dying on Nov. 19. Carter turned 100 in October, bringing a new flood of tributes and accolades. His grandson Jason Carter said it was gratifying for Jimmy Carter to see a reassessment of his presidency and legacy. After losing his reelection bid in 1980, he remained active in public issues, including speaking at age 95 in support of Joe Biden at the virtual Democratic National Convention in August 2020. Some commentators viewed him as the nation's "most successful ex-president." He wrote more than 40 books , including "Faith," which he released when he was in his mid-90s. Days after his 93rd birthday, he offered to go to North Korea amid a nuclear crisis in an attempt to establish a permanent peace between Pyongyang and Washington. And at age 96, he denounced Republican efforts to restrict voter access in his home state. Carter lived longer than any other U.S. president, surpassing the late George H.W. Bush, who died in November 2018 at age 94. When Carter reached that milestone in March 2019, Carter Center spokeswoman Deanna Congileo said he was still active. "Both President and Mrs. Carter are determined to use their influence for as long as they can to make the world a better place," Congileo said at the time. "Their tireless resolve and heart have helped to improve life for millions of the world's poorest people." U.S. stock markets have historically closed for a day of mourning to honor the death of a president. James Earl Carter Jr. was born Oct. 1, 1924, in Plains, Georgia — the first U.S. president born in a hospital. His father ran a general store and invested in farmland. His mother, known as "Miss Lillian," was a nurse. Carter attended the U.S. Naval Academy. During one of his visits home from Annapolis, his younger sister Ruth set up a date with their neighbor and lifelong friend. Upon graduation in 1946 from the academy, he married that young woman, Eleanor Rosalynn Smith, when she was 18. (On July 7, 2023, the Carters celebrated their 77th wedding anniversary , marking a record-long marriage for a first couple.) In the Navy, he served on submarines in the Atlantic and Pacific fleets and attained the rank of lieutenant. He joined then-Capt. Hyman Rickover's nuclear submarine development program. He did graduate work at Union College in reactor technology and nuclear physics and became senior officer of the pre-commissioning crew of the second nuclear submarine, the Seawolf. After his father died in 1953, Carter resigned from the Navy and returned to Georgia, taking over the family farms and becoming active in local politics. He served in the Navy Reserve until 1961. Elected governor in 1971, he was considered one of the leaders of the "New South" — a progressive who condemned racial segregation and inequality. During his presidential campaign, he ran as an outsider, hoping to capitalize on the anti-Washington sentiment in the post-Vietnam/Watergate era. "My name is Jimmy Carter, and I'm running for president," a beaming Carter said in the opening of his acceptance speech at the Democratic National Convention in July 1976. He offered to create jobs in a nasty economy with a 7.9% unemployment rate, and to set a squeaky-clean example as a born-again Christian from outside the Beltway, unblemished by Washington's scandals. On the eve of the election, however, he gave an interview to Playboy magazine in which he made this shocking confession: "I've looked on a lot of women with lust. I've committed adultery in my heart many times." Still, the man with the huge smile and genteel Georgia drawl handily won the Electoral College by 297-240 but received only 50.1% of the popular vote to Ford's 48%. Once in office, Carter empowered his running mate, Walter Mondale, to transform the vice presidency into a policy-driving office. On the domestic front, in addition to stagflation and recession, Carter had to deal with the Love Canal ecological disaster in Niagara Falls, New York, which led to the creation of the environmental Superfund. He also ended federal price regulations for airlines, trucking and railroads; signed the bailout of Chrysler in 1979; and elevated the Department of Education into a separate Cabinet-level agency. One of his biggest domestic problems was the festering energy crisis, which stemmed from the Arab oil embargo that began during the 1973 Middle East war. He termed the crisis "the moral equivalent of war." In symbolic gestures, he wore a Mister Rogers-styled cardigan, turned down the White House heat, installed solar heating panels in the executive mansion, created the Department of Energy and pressed for tax incentives for installation of home insulation. In international affairs, he campaigned for human rights, successfully concluded the Camp David peace accords between Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin, negotiated the return to Panama of the Canal Zone, established full diplomatic relations with communist China and reached an agreement on the SALT II nuclear arms limitation treaty with Moscow. Then came the fateful end of the year 1979: The disastrous 444-day Iranian hostage standoff began in November, and the Soviets invaded Afghanistan in December, resulting in Carter's call for a U.S. boycott of the 1980 Moscow Olympics. The seizure of the U.S. Embassy in Tehran by radical student followers of Ayatollah Ruhollah Khomeini on Nov. 4, 1979, and the subsequent siege made the Carter administration seem impotent. Even the first lady recalled during a CNBC interview in 2014 that she urged her husband to "do something, anything!" Five months into the crisis, Carter ordered a military mission, Operation Eagle Claw, to rescue the American hostages. The mission ended in humiliation: In the process of aborting the plan because of operational difficulties, a U.S. helicopter crashed into a transport plane at the desert staging area, killing eight servicemen. Secretary of State Cyrus Vance, who advocated diplomacy over force to resolve the hostage crisis, resigned. "I know this is a matter of principle with you, and I respect the reasons you have expressed to me," Carter said in a handwritten note to Vance. The crisis finally ended with the release of 52 Americans on Jan. 20, 1981, the day the man who ended Carter's single-term presidency took the oath of office — Ronald Reagan. Before the 1980 election between Carter, Reagan and independent John Anderson, Sen. Ted Kennedy waged an unsuccessful challenge to the president for the Democratic nomination. In a 2014 interview with CNBC, Carter said he probably would have been easily reelected had he rescued the hostages. "It would have shown that I was strong and resolute and manly," he said. "I could have wiped Iran off the map with the weapons that we had. But in the process a lot of innocent people would have been killed, probably including the hostages. And so I stood up against all that advice, and then eventually all my prayers were answered and all the hostages came home safe and free." Summing up the Carter presidency, former aide Stuart Eizenstat wrote in a 2015 op-ed in The New York Times that the nation's 39th president had numerous accomplishments. "It is enormously frustrating for those of us who worked closely with him in the White House to witness his presidency caricatured as a failure, and to see how he has been marginalized, even by his fellow Democrats," Eizenstat wrote. "His defining characteristic was confronting intractable problems regardless of their political cost." Carter remained active after he left Washington at age 56. He and Rosalynn volunteered for Habitat for Humanity , building affordable housing for the needy, and he established the Jimmy Carter Presidential Library and The Carter Center in Atlanta. Founded in 1982, the center has sent observers to monitor elections in more than three dozen countries. The center has also led health efforts, including the push to eradicate the tropical parasitic Guinea worm disease. The center's motto is "Waging peace. Fighting disease. Building hope." "I still hope to outlive the last Guinea worm ," Carter told CNN in May 2018. (He came close. The Carter Center reported there were only 13 human cases in 2023.) Carter, who also taught at Emory University, traveled extensively to promote peace, human rights and economic progress. In one mission, President Bill Clinton secretly dispatched him to North Korea in 1994 to help mediate a nuclear dispute with dictator Kim Il Sung, Kim Jong Un's grandfather. In 2002, Carter received the Nobel Peace Prize for what the awards committee called "his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development." However, his actions were not always well-received. His efforts in his long campaign for peace between Israel and its Arab neighbors included the 2006 book "Palestine: Peace, Not Apartheid," which was perceived as antisemitic and biased against Israel. In particular, one sentence provoked an outcry: "It is imperative that the general Arab community and all significant Palestinian groups make it clear that they will end the suicide bombings and other acts of terrorism when international laws and the ultimate goals of the Roadmap for Peace are accepted by Israel." In an interview with NPR , Carter was asked about the passage. "That was a terribly worded sentence which implied, obviously in a ridiculous way, that I approved terrorism and terrorist acts against Israeli citizens," he said. "The 'when' was obviously a crazy and stupid word. My publishers have been informed about that and have changed the sentence in all future editions of the book." (It became: "It is imperative that the general Arab community and all significant Palestinian groups make it clear that they renounce all acts of violence against innocent civilians and will accept international laws, the Arab peace proposal of 2002, and the ultimate goals of the Roadmap for Peace.") In the 2014 CNBC interview, Carter said the Camp David Accords and other peacemaking stood among his greatest achievements as president. "I kept our country at peace, which has happened very rarely since the Second World War, and I tried to work for peace between other people who were not directly related to the United States, like between Egypt and Israel. I normalized diplomatic relations with China, and I implemented a very strong human rights commitment that brought about a change throughout Latin America, for instance, from totalitarian military dictatorships to democracies," he said. "So I would say the promotion of peace and human rights were the two things that I'm most proud." Had he been elected to a second term, he told CNBC, "I could have implemented very firmly the peace agreement that I negotiated with Israel and its neighbors that was never fully implemented." "I'd like to be remembered as a champion of peace and human rights. Those are the two things I've found as a kind of guide for my life. I've done the best I could with those, not always successful, of course," he told CNBC. "I would hope the American people would see that I tried to do what was best for our country every day I was in office." Survivors include sons John "Jack," James "Chip," and Donnel "Jeff" and daughter Amy. Jack ran unsuccessfully for the U.S. Senate in Nevada in 2006. Jack's son Jason lost a bid for Georgia governor in 2014 to then-incumbent Republican Nathan Deal. Carter's brother Billy, whose antics stirred up unwanted attention during the Carter White House years, died in 1988. On Aug. 12, 2015, the former president revealed that he had melanoma and that surgery on his liver confirmed that it had metastasized there and to his brain. A week after his cancer diagnosis announcement, Carter held a remarkably frank news conference at the Carter Center to discuss his prognosis and the prospect of facing death. "I've had a wonderful life, I've had thousands of friends, and I've had an exciting and adventurous and gratifying existence," he told reporters. Illustrating that peace of mind, the former president took this picture when he returned home from the news conference: After four months of treatment, including targeted radiation and immunotherapy, Carter announced in early December 2015 that a subsequent brain scan showed no signs of the original cancer spots and no new ones. Then in March 2016, he announced he no longer needed regular cancer treatments. Months later, in July, he addressed the Democratic National Convention by video, urging people to vote for Hillary Clinton over Donald Trump . And at an Atlanta Braves game in September 2015, the former first couple was caught on the "kiss cam." In 2019, at age 94, Carter fell in his home and broke a hip when he was preparing to go turkey hunting. "President Carter said his main concern is that turkey season ends this week, and he has not reached his limit," the Carter Center said. He underwent hip replacement surgery but had to cancel plans to resume teaching Sunday school six days after the accident. Later that year, just before a planned week at an October 2019 Habitat for Humanity project in Tennessee, the 95-year-old Carter fell in his home while heading to church. Although he suffered a black eye and needed 14 stitches in his head, Carter appeared 400 miles away at a concert that night in Nashville to support the project. Wielding a power drill and other building tools, he soon joined the volunteer construction crews. Then, two weeks later, he fell in his house and suffered a pelvic fracture. But in another two weeks, he was back at church, giving a lesson on the Book of Job and talking about facing death during his 2015 cancer treatment. "I obviously prayed about it. I didn't ask God to let me live, but I just asked God to give me a proper attitude toward death. And I found that I was absolutely and completely at ease with death. It didn't really matter to me whether I died or lived," Carter told the congregation of 400 people at Maranatha Baptist Church on Nov. 3, 2019, according to the church's feed on Facebook. "I have since that time been absolutely confident that my Christian faith includes complete confidence in life after death." During the Covid pandemic, the Carters decided not to travel to Biden's inauguration, but weeks later, they were fully vaccinated and were back in their usual seats in the front pew of Maranatha Baptist for Sunday services. " It's hard to live until you're 95 years old," Carter told People magazine days after reaching that milestone. "I think the best explanation for that is to marry the best spouse: Someone who will take care of you and engage and do things to challenge you and keep you alive and interested in life." — Michele Luhn and Lynne Pate contributed to this report.A LEADING supermarket has dramatically reduced the price of 6.5ft Christmas trees by 88%. Tesco is selling 6.5ft luxury artificial alpine snow trees for just £7.50. 1 Unfortunately, the offer isn't available online, so you'll need to head to your local store to check if there's still stock Credit: Facebook The artificial fir, which usually retails at £60 a piece, can be bought for the knockoff price in-store while stocks last. Shoppers have taken to social media to brag about the offer. One person posted on the Extreme Couponing and Bargains UK Facebook page and said: This bad boy was originally £60... "It's now reduced to £7.50!" Read more in money FINAL CURTAIN Cineworld to close first site TOMORROW ahead of six closing for good TIME SAVER Little-known key limits set by major banks to help you skip branch visits Another shopper, responding to the find, said: "I bought this tree last year and put it up this year. It's lovely. "They are deffo a bargain at that kind of price." A third shopper said: "I have this tree! "I got it last year, but not this cheap!" Most read in Money OPEN UP New Year's opening hours 2025 - Tesco, Asda and Aldi reveal closing times RUNNING DRY Fears supermarket Guinness shortage could mean NO supplies for New Year’s Eve WELL ISLE BE We've moved onto an island in London with no bridge - pals say we're 'bonkers' 'SAD NEWS' 'Genuinely gutted' cry locals as popular Scots eatery announces sudden closure Unfortunately, the offer isn't available online, so you'll need to head to your local store to check if there's still stock. You can find yours by visiting tesco.com/store-locator/. SAVE HUNDREDS AT TESCO Always remember to compare prices to ensure you get the best deal. However, the in-store Tesco offer is the best we've seen on 6ft trees. A similar alpine snow-covered artificial tree from Homebase currently costs £90 - and that's with a 50% markdown. Online-only retailer Studio has slashed the price of its own 6ft frosted artificial trees from £35.99 to £6.50. However, they're five inches shorter than the one on offer at Tesco. How to compare prices to get the best deal JUST because something is on offer, or is part of a sale, it doesn't mean it's always a good deal. There are plenty of comparison websites out there that'll check prices for you - so don't be left paying more than you have to. Most of them work by comparing the prices across hundreds of retailers. Here are some that we recommend: Google Shopping is a tool that lets users search for and compare prices for products across the web. Simply type in keywords, or a product number, to bring up search results. Price Spy logs the history of how much something costs from over 3,000 different retailers, including Argos, Amazon, eBay and the supermarkets. Once you select an individual product you can quickly compare which stores have the best price and which have it in stock. Idealo is another website that lets you compare prices between retailers. All shoppers need to do is search for the item they need and the website will rank them from the cheapest to the most expensive one. CamelCamelCamel only works on goods being sold on Amazon. To use it, type in the URL of the product you want to check the price of. SAVE AT TESCO With a few simple tricks you can cut down the total on your Tesco shop. Here are some tips to help you: Get a Tesco Clubcard : If you're a frequent Tesco shopper, signing up for a Tesco Clubcard is highly recommended. With every £1 you spend, you earn one point, which can be redeemed for vouchers. Accumulate 150 points to receive a £1.50 voucher in-store. For added value, exchange your points online via the Clubcard website for days out or restaurant meals, where they can be worth up to three times their value. Don’t forget to check for any unused points, as they remain valid for up to two years. Save on Tesco deliveries : Consider signing up for Tesco’s Delivery Saver subscription service to save on home delivery costs. For a monthly fee starting at £3.49, you can get all online deliveries over £40 delivered free of charge, with one order per day. This service is ideal if you place two or more orders over £40 a month. The delivery charge typically ranges from £1 to £7, so if you regularly shop online, the subscription could offer substantial savings. Make the most of yellow stickers : Yellow stickers indicate items that have been reduced in price due to approaching sell-by dates or minor damage. If you have a large freezer, these discounts are a great way to stock up on quality products for less. The timing for yellow sticker discounts varies by store, so check our guide for the best times to find these bargains. Look for "Exclusively at Tesco" products : Tesco offers an “Exclusively at Tesco” range featuring around 400 key items such as bread, tea bags, and family meals. This range is priced competitively against discount retailers like Aldi and Lidl. Always compare prices to ensure you’re getting the best deal and consider using price comparison tools like MoneySupermarket or Idealo to track supermarket prices. Try downshifting your products : Switching from premium to standard products can lead to significant savings. For example, a Tesco Finest chicken kiev costs £6, whereas a standard Tesco kiev is only £2—a £4 saving. According to MoneySavingExpert Martin Lewis , this simple change can save an average family up to £1,500 annually. Bring your own bags : Tesco charges 10p for its bags for life, which may seem small, but can add up over time. Using four bags per week equates to £1.60 a month or £20.80 a year. Save money by bringing your own bags—keeping them in your car can help you remember them on your next trip. Read more on the Scottish Sun GHOST TOWN Former Scots shopping hotspot 'decaying' as multimillion pound revamp ‘failing’ VAX HORROR Striken Scots 'gaslit' by health bosses after complications from Covid vaccine With these tricks you can maximise your savings the next time you shop at Tesco. Meanwhile, Tesco Clubcard customers can boost their points by spending money with partners like Ovo Energy, Vauxhall, and Inkjet Recycling. How to bag a bargain SUN Savers Editor Lana Clements explains how to find a cut-price item and bag a bargain... Sign up to loyalty schemes of the brands that you regularly shop with. Big names regularly offer discounts or special lower prices for members, among other perks. Sales are when you can pick up a real steal. Retailers usually have periodic promotions that tie into payday at the end of the month or Bank Holiday weekends, so keep a lookout and shop when these deals are on. Sign up to mailing lists and you’ll also be first to know of special offers. It can be worth following retailers on social media too. When buying online, always do a search for money off codes or vouchers that you can use vouchercodes.co.uk and myvouchercodes.co.uk are just two sites that round up promotions by retailer. Scanner apps are useful to have on your phone. Trolley.co.uk app has a scanner that you can use to compare prices on branded items when out shopping. Bargain hunters can also use B&M’s scanner in the app to find discounts in-store before staff have marked them out. And always check if you can get cashback before paying which in effect means you’ll get some of your money back or a discount on the item.super ace jackpot winner 。

It turns out the is pretty underused by Canadians despite its many advantages. I blame the name. Calling it a “savings account” causes some people to treat it like a regular bank account, leaving it to hold cash instead of tapping into its full potential. That’s a missed opportunity because the TFSA is incredibly versatile. Shockingly, according to Advisor.ca, the average fair market value of a TFSA for Canadians aged 30 to 34 is just $15,347. While that might sound decent, it’s far below what you could be building in this account. Consider this: if you were born in 1991, have been a resident of Canada since before 2010, and have never contributed to your TFSA, the maximum contribution room for 2024 is a whopping $95,000, according to Moneysense. By 2025, you’ll get another $7,000 in contribution room. If you’ve been slacking on using your TFSA or aren’t sure how to maximize its growth potential, keep reading. I’ll show you how to make the most of this powerful tool for building your wealth. Why invest in a TFSA? The TFSA offers advantages that neither non-registered accounts nor the Registered Retirement Savings Plan (RRSP) can match. Unlike a non-registered account, where you need to report and pay tax on interest, dividends, and capital gains, the TFSA lets these grow completely tax-free. You don’t even have to include them on your tax return. Plus, you can withdraw funds whenever you need, with no penalties — though your contributions are capped annually. While RRSPs also allow tax-free growth of interest, dividends, and capital gains, withdrawals are where the differences start. Withdrawing early from an RRSP triggers a penalty, and once it’s converted into a Registered Retirement Income Fund (RRIF) in retirement, withdrawals are taxed as income. Every dollar you hand over to the Canada Revenue Agency (CRA) is one less for your pocket. If you want to maximize the power of compounding and keep more of your returns, prioritizing contributions to your TFSA is a smart move. How to maximize growth in a TFSA If you’re a fan of Canada’s big bank stocks and looking to amplify your returns within a TFSA, here’s an intriguing strategy: consider investing in them with 1.25 times leverage. This means for every $100 you invest, an additional $25 is borrowed to increase your market exposure. Typically, borrowing to invest (using margin) isn’t allowed within a TFSA; that’s reserved for non-registered accounts. While you could take out a line of credit to fund your TFSA, this approach carries risks and often comes with high interest rates. The solution: ( ), which offers a way to gain leveraged exposure to Canada’s major banks without the complexities of personal borrowing. Here’s how it works: for every $100 in assets, HCAL borrows an additional $25, resulting in $125 of exposure evenly distributed among Canada’s “Big Six” banks. This strategy can lead to higher potential gains and increased yields. As of October 31, 2024, HCAL boasts a yield of 6.37%, with distributions paid monthly. However, it’s important to note that leveraging also amplifies volatility. On days when bank stocks decline, HCAL may experience more significant drops. As with any investment, higher potential rewards come with increased risks.An Ontario court has sided with media commentators who suggested the Canadian Union of Postal Workers was a terrorist sympathizer for participating in a protest a decade ago in Ottawa that featured a Hamas flag. “Their belief that CUPW supports Hamas, a terrorist organisation, is, in my view, honestly held based on proven facts. It does not have to be a reasonable belief. But it must be an honest one,” concluded Justice Graeme Mew of the Superior Court of Ontario. The case, which has as much to do with journalistic ethics as it does with the fraught politics of the Middle East, dates back to a July 2014 march organized by the Association of Palestinian Canadians, which was joined by some postal workers who had been invited by their union. But, it only resolved on Thursday. The defendants in the case were Jerry Agar, then a host on the now-defunct Sun News Network and a freelance columnist for the Toronto Sun, then owned by Quebecor but now owned by Postmedia, the same company that owns National Post, and Avi Benlolo, at the time the president and CEO of the Friends of Simon Wiesenthal Center for Holocaust Studies and now CEO of the Abraham Global Peace Initiative and a columnist for National Post. “This is an important vindication of the right to engage in debate and express honestly held views,” said Benlolo in a statement. “This is an important victory for me and one that will be meaningful for the Jewish community.” The Ottawa Citizen, another Postmedia newspaper, covered the protest at the time and interviewed Adam John, the man who was carrying a Hamas flag, who said that while a connection could be made between the flag and the terror group, it was meant to be supportive of Islam in general not Hamas in particular. The presence of the flag, and the long history of CUPW activism on Gaza, formed the backdrop of the commentary that followed, and the lawsuit. Agar, wrote in the Sun: “Would you want a terrorist sympathizer coming to your door every day?” On the Sun News broadcast, where Agar was filling in for the regular host on The Source, a current affairs program, Benlolo, who had been booked as a guest, said the CUPW leadership “has a history of partnering up with hate groups, anti-Israel groups” and said it was “shocking” that the union “should be so political and siding and partnering up with a hate group like Hamas.” CUPW sued, arguing that Agar and Benlolo argued, essentially, that the union and its members were terrorist sympathizers, that CUPW supports Hamas and was not at the rally to support “ordinary Palestinians” and that this was defamatory. It also argued that Agar’s Toronto Sun opinion piece was libellous. The postal union has long taken a strong stance on the conflict between Israel and Palestinians, with its official policy on peace and disarmament stating that “the occupation of the West Bank and siege on Gaza are major obstacles to justice and a lasting peace,” and expressing support for the boycott, divestment and sanctions (BDS) movement. Its policies have been heavily criticized in newspaper columns and were once criticized, the court ruling says, by Bob Rae, then a Liberal member of Parliament. “I continue to be astonished by the extent to which ideas which should be on the ‘loony tunes’ margins of politics have now been adopted by a union which represents thousands of members,” Rae previously said, according to the ruling. The court ended up siding with Agar and Benlolo. “We are disappointed with the outcome,” said an email from CUPW media relations. “We will reach out when we have more to say.” At issue was not just CUPW’s history and expressed political views surrounding Gaza and Israel. The ruling also dealt with an emailed statement, sent by a CUPW spokesperson, to journalists who had asked whether the union supported Hamas. The spokesperson did not explicitly disavow that, and that served as a key bit of evidence in the judge’s decision. Benlolo, however, attempted to use a truth defence in court — typically the hardest-to-use defence against accusations of libel or defamation. Although the court noted that when Sun Media contacted the postal union for comment, it “did not take the opportunity to distance itself” from any association with the Hamas flag, and that it supported the Canadian Boat to Gaza initiative, a 2011 push for a flotilla to take humanitarian aid past an Israeli blockade to Palestinians in Gaza, this was not evidence enough that CUPW knowingly marched with Hamas supporters or supports Hamas, or that mail carriers are terrorist sympathizers. That defence failed. The two men also defended their statements as “fair comment,” a popular legal defence against allegations of defamation or libel. It requires, however, that the defendant make his or her statements without malice and that they have some grounding in fact. Again, the judge took up the issue of CUPW’s failure to disavow Hamas when reached for comment. “A plausible interpretation of CUPW’s unwillingness to address the question ... is that CUPW wanted to avoid directly answering the question,” Mew wrote. “While I am not suggesting that CUPW’s failure to take the opportunity to deny its support for Hamas could reasonably be construed as an acknowledgment that it did, in fact, support Hamas, it nevertheless left the door open for Mr. Agar and Mr. Benlolo to make the comments that are the subject of this action.”‘ The judge concluded that a banner that ran during the conversation — “Supporting Hamas?” — was a question, not a statement of fact. CUPW, in attempting to counter the defence of fair comment, noted that it “repeatedly denounced violence, terrorism, racism, and all that Hamas stands for (albeit without specifically mentioning Hamas),” the judge wrote, which was ignored by the defendants, and that the support for BDS or the presence of a Hamas flag of which organizers were unaware were “incapable of forming a factual basis for the assertion” that CUPW was a Hamas sympathizer. The judge disagreed, finding that CUPW’s long history of activism provided enough factual basis for the opinions expressed. “Comment does not have to be reasonable. It can even be farfetched or extreme,” the judge wrote. “The necessary factual substratum for the opinions expressed by the defendants has been adequately demonstrated.” He also found that Agar and Benlolo acted without malice and honestly believe what they said. National Post was unable to reach Agar for comment. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com and sign up for our daily newsletter, Posted, here .

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The National Green Tribunal has sought a response from the Centre on the "feasibility and mechanism" for implementation of the CPCB's recommendations for controlling ozone levels, which were found beyond the permissible limits in some areas of the national capital. The green body earlier directed the Central Pollution Control Board (CPCB) and other agencies to submit relevant material explaining why ozone levels in these areas exceeded permissible limits. It had also sought "targeted approaches" that could be adopted for these areas. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for In an order dated December 23, a bench of NGT Chairperson Justice Prakash Shrivastava and expert member A Senthil Vel noted that the CPCB had submitted a report dated December 20 about the measures for control of ozone levels along with some suggestions or recommendations. The CPCB report said, "It has been recognised globally that control of ozone is only possible through control of its precursors. It is also evident that control of local sources of its precursors may not yield significant benefits in terms of ozone reduction, as both ozone and its precursors can be transported over hundreds of kilometres." "Considering the same, the government has undertaken several initiatives at the national level, to control the precursors of ozone, i.e, nitrous acid (NOx), volatile organic compound (VOC), methane and carbon monoxide (CO) to some extent," it said. The tribunal noted the report about the government's National Clean Air Programme (NCAP) of 2019, aimed at reducing air pollution levels across the country, where city-specific clean air action plans had been prepared and rolled out for implementation in 130 non-attainment million-plus cities to improve the air quality. 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View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI and Analytics based Business Strategy By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI View Program Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 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 Artificial Intelligence(AI) AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert 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 Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy i.e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Data Science SQL Server Bootcamp 2024: Transform from Beginner to Pro By - Metla Sudha Sekhar, IT Specialist and Developer View Program It also noted the report about various action plans by the Urban Local Bodies (ULBs) to control NOx emissions as part of the NCAP and that various waste management rules were being implemented to prevent VOC, CO and methane emissions. The tribunal noted that the report also mentioned specific interventions for the sectors of transport, power plants and industries, besides the measures for preventing biomass burning, especially paddy straw burning in northern India. It said along with the Union government controlling ozone concentrations through control of their precursors at national or regional levels, the pollution board's report mentions various suggestions. The tribunal noted the CPCB's suggestion that "considering the elevated levels of ozone observed during COVID-19 lockdown and that the ozone concentration is also influenced by transboundary movement, soil and biogenic emissions, a detailed study may be required with help of air quality experts to evaluate the reasons for higher ozone levels at various locations in Delhi." It also noted that the CPCB had discussed the issue with air quality experts, who said that a study was required. "The feasibility and mechanism for implementation of recommendations made by CPCB needs consideration. Hence, we deem it proper to implead the following as respondent, the Union Ministry of Environment Forest and Climate Change through the secretary," the tribunal said. "Let notice be issued for filing the response by way of affidavit, especially commenting upon the recommendations that have been made by CPCB," it added. The tribunal also sought a fresh report from the CPCB, which had to mention how effectively the measures of the Centre were being implemented. The matter has been posted on April 21 for further proceedings. The NGT had taken suo motu cognisance of a news report regarding the elevated ozone levels. During the hearing in September, the NGT noted that as per a Delhi Pollution Control Committee (DPCC) report, ozone concentrations surpassed national standards at seven monitoring stations in Delhi last year while nine stations recorded similar breaches during this summer. The DPCC's report highlighted that dangerous levels of ground-level ozone were recorded in several traffic-heavy areas during April and May 2023. Nehru Nagar witnessed 56 days of high ozone levels, Patparganj 45 days and Aurobindo Marg 38 days. Nehru Nagar, located near Lajpat Nagar, recorded the highest concentration of ozone at 224.9 micrograms per cubic metre, far above the national standard of 100 micrograms per cubic metre during an eight-hour period. Other peaks included 188.3 micrograms per cubic metre in Patparganj and 175.4 micrograms per cubic metre in RK Puram, according to the DPCC's findings. (You can now subscribe to our Economic Times WhatsApp channel )The confidential briefing note is part of the tranche of documents made public in the annual release of State papers from the Irish National Archives. An Irish Department of Foreign Affairs official focusing on justice and security created the list in October 2002. The document starts by referencing a 1999 interview given by George Mitchell, the chairman of the Good Friday Agreement negotiations, in which he claimed the British and Irish governments, as well as Northern Ireland’s political parties, had leaked information to manipulate public opinion. However, he further accused the NIO of attempting to sabotage the process by leaking information on British Government policy to the media. Mr Mitchell, a former US senator, is said to have expressed alarm and anger over the frequency of leaks from the NIO – saying they were uniquely “designed to undermine the policy of the British Government of which they were a part”. The Irish civil servant notes Mr Mitchell himself was subjected to an attempted “smear” when he first arrived in Northern Ireland, as newspaper articles falsely claimed his chief of staff Martha Pope had had a liaison with Sinn Fein representative Gerry Kelly with ulterior motives. The Irish civil servant goes on to list several “leaks”, starting with the publication of a proposed deal in a newspaper while “intense negotiations” for the Downing Street Declaration were under way. Next, the Department lists two “high-profile and damaging leaks issued from the NIO”. A so-called “gameplan” document was leaked in February 1998, showing papers had been prepared weeks before the Drumcree march on July 6, 1997. In the preceding years, there had been standoffs and clashes as nationalists opposed the procession of an Orange parade down Garvaghy Road in Portadown. The gameplan document showed then secretary of state for Northern Ireland Mo Mowlam, who was publicly expressing a desire for a negotiated solution to the 1997 parade, advocated “finding the lowest common denominator for getting some Orange feet on the Garvaghy Road”. In 1997, a large number of security forces were deployed to the area to allow the march to proceed. The incident sparked heightened tension and a wave of rioting. The document further describes the release of a document submitted by the NIO’s director of communications to the secretary of state as a “second major leak”. It claims a publicity strategy was released to the DUP in the aftermath of the Good Friday Agreement and showed how the UK Government would support a yes vote in a referendum following any talks agreement. In addition, it is claimed unionists used leaked sections of the Patten report on policing to invalidate its findings ahead of its publication in 1999. The report recommended the replacement of the Royal Ulster Constabulary with the Police Service of Northern Ireland, the changing of symbols, and a 50-50 recruitment policy for Catholics and Protestants. At the time, UUP leader David Trimble said the recommendations would lead to a corruption of policing in Northern Ireland. Chris Patten, chairman of the independent commission on policing, said some of the assertions were a “total fabrication” and designed to “muddy the waters” to create a difficult political atmosphere. Elsewhere, the author notes it was leaked to the media there was serious disagreement between the governments of the UK and Ireland on the composition of that commission – with not a single name submitted by the Irish side being accepted by the other. The author notes this incident, still under the heading “NIO leaks”, was believed by British officials to have emanated from the Irish side. The report turns to leaks of other origin, claiming “disgruntled Special Branch officers in Northern Ireland” were blamed by the British Government for a series of releases about the IRA which were designed to damage Sinn Fein in the 2001 general election in Northern Ireland. One senior Whitehall source was quoted in the Guardian as complaining that Special Branch was “leaking like a sieve” after details of an IRA intelligence database containing the names of leading Tories – described at the time as a “hit list” – was passed to the BBC in April 2002. The briefing note adds: “This was followed days later by a leak to The Sunday Telegraph which alleged that senior IRA commanders bought Russian special forces rifles in Moscow last year. “The newspaper said it was passed details by military intelligence in London.” The briefing note adds that other Special Branch leaks were associated with the Castlereagh break-in. The final incident in the document notes the Police Ombudsman’s Report on the Omagh bombing was also leaked to the press in December 2001. Then Northern Ireland secretary John Reid said at the time: “Leaks are never helpful and usually malicious – I will not be commenting on this report until I have seen the final version.” The reason for creating the list of leaks, which the Irish National Archives holds in a folder alongside briefing notes for ministers ahead of meetings with officials from the UK Government and NIO, is not outlined in the document itself. – This document is based on material in 2024/130/6.

BOSTON--(BUSINESS WIRE)--Dec 10, 2024-- Skillsoft Corp. (NYSE: SKIL) (“Skillsoft” or the “Company”), a leading platform for transformative learning experiences, today announced its financial results for the third quarter of fiscal 2025 ended October 31, 2024. Fiscal 2025 Third Quarter Select Metrics and Financials from Continuing Operations (1)(2) “Our fiscal third quarter financial results demonstrate our first step in executing our transformation strategy,” said Ron Hovsepian, Skillsoft’s Executive Chair and Chief Executive Officer. “The operationalization of our strategy is showing the first signs of business and financial improvement for our shareholders and customers.” Fiscal 2025 Third Quarter Business Highlights “I am pleased with our financial results for the quarter, which are highlighted by strong revenue execution, improved profitability, and positive free cash flow,” said Rich Walker, Skillsoft’s Chief Financial Officer. “Our third quarter performance, coupled with momentum from our transformation execution, gives us confidence to raise and tighten our FY25 revenue guidance range, while reaffirming our adjusted EBITDA outlook.” Full-Year Fiscal 2025 Financial Outlook (2) The following table reflects Skillsoft’s updated financial outlook for the fiscal year ending January 31, 2025, based on current market conditions, expectations, and assumptions: GAAP Revenue $520 million – $530 million Adjusted EBITDA $105 million – $110 million (1) Growth calculated relative to the comparable prior year period unless otherwise noted. (2) See “Non-GAAP Financial Measures and Key Performance Metrics” below for the definitions of our key operational and non-GAAP metrics and how they are calculated and more information regarding the fact that the Company is unable to reconcile forward-looking non-GAAP measures without unreasonable efforts. We have provided at the back of this release reconciliations of our historical non-GAAP financial measures to the comparable GAAP measures. Webcast and Conference Call Information Skillsoft will host a conference call and webcast today at 5:00 p.m. Eastern Time to discuss its financial results. To access the call, dial (877) 413‐9278 from the United States and Canada or (215) 268‐9914 from international locations. The live event can be accessed from the Investor Relations section of Skillsoft’s website at investor.skillsoft.com . A replay will be available for six months. About Skillsoft Skillsoft delivers transformative learning experiences that propel organizations and people to grow together. The Company partners with enterprise organizations and serves a global community of learners to prepare today’s employees for tomorrow’s economy. With Skillsoft, customers gain access to blended, multimodal learning experiences that do more than build skills, they grow a more capable, adaptive, and engaged workforce. Through a portfolio of high-quality content, an AI-enabled platform that is personalized and connected to customer needs, and a broad ecosystem of partners, Skillsoft drives continuous growth and performance for employees and their organizations by overcoming critical skills gaps, unlocking human potential, and transforming the workforce. Learn more at www.skillsoft.com . Non-GAAP Financial Measures and Key Performance Metrics The Company has organized its business into two segments (or Business Units): Talent Development Solutions (formerly referred to as Content & Platform) and Global Knowledge (formerly referred to as Instructor-Led Training). We track the non-GAAP financial measures and key performance metrics that we believe are key financial measures of our success. Non-GAAP measures and key performance metrics are frequently used by securities analysts, investors, and other interested parties in their evaluation of companies comparable to us, many of which present non-GAAP measures and key performance metrics when reporting their results. These measures can be useful in evaluating our performance against our peer companies because we believe the measures provide users with valuable insight into key components of U.S. GAAP financial disclosures. For example, a company with higher U.S. GAAP net income may not be as appealing to investors if its net income is more heavily comprised of gains on asset sales. Likewise, excluding the effects of interest income and expense moderates the impact of a company’s capital structure on its performance. However, non-GAAP measures and key performance metrics have limitations as analytical tools. Because not all companies use identical calculations, our presentation of non-GAAP financial measures and key performance metrics may not be comparable to other similarly titled measures of other companies. They are not presentations made in accordance with U.S. GAAP, are not measures of financial condition or liquidity, and should not be considered as an alternative to profit or loss for the period determined in accordance with U.S. GAAP or operating cash flows determined in accordance with U.S. GAAP. As a result, these performance measures should not be considered in isolation from, or as a substitute analysis for, results of operations as determined in accordance with U.S. GAAP. We have provided at the back of this press release reconciliations of our historical non-GAAP financial measures to the comparable GAAP measures. We do not reconcile our forward-looking non-GAAP financial measures to the corresponding U.S. GAAP measures, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible; and because not all of the information necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure is available to us without unreasonable efforts. For the same reasons, we are unable to address the probable significance of the unavailable information. We provide non-GAAP financial measures that we believe will be achieved, however we cannot accurately predict all of the components of the non-GAAP calculations and the U.S. GAAP measures may be materially different than the non-GAAP measures. We disclose the below non-GAAP financial measures and key performance metrics in this press release because we believe these non-GAAP financial measures and key performance metrics provide meaningful supplemental information. Dollar retention rate ( “ DRR ” ) - For existing customers at the beginning of a given period, DRR represents subscription renewals, upgrades, churn, and downgrades in such period divided by the beginning total renewable base for such customers for such period. Renewals reflect customers who renew their subscription, inclusive of auto-renewals for multi-year contracts, while churn reflects customers who choose to not renew their subscription. Upgrades include orders from customers that purchase additional licenses or content (e.g., a new Leadership and Business module), while downgrades reflect customers electing to decrease the number of licenses or reduce the size of their content package. Upgrades and downgrades also reflect changes in pricing. We use our DRR to measure the long-term value of customer contracts as well as our ability to retain and expand the revenue generated from our existing customers. Adjusted net income (loss) - Adjusted net income (loss) is defined as GAAP net income (loss) excluding non-cash items, discrete and event-specific costs that do not represent normal, recurring, cash operating expenses necessary for our business operations, and certain accounting income and/or expenses that management believes are necessary to enhance the comparability and are useful in assessing our operating performance, include the following (including the related tax effects): Adjusted EBITDA - Adjusted EBITDA is defined as adjusted net income (loss) excluding interest expense or income, benefit from or provision for income taxes, depreciation and amortization expense. Adjusted operating expenses – Adjusted operating expenses are defined as GAAP costs of revenues, content and software development, selling and marketing, and general and administrative expenses, excluding depreciation expense, long-term incentive compensation expense, system migration costs, transformation costs, and other non-cash charges, as applicable. Adjusted gross margin – Adjusted gross margin is defined as GAAP revenue less GAAP cost of revenues, excluding long-term incentive compensation expense and depreciation expense, divided by GAAP revenue for the same period. Adjusted contribution margin – Adjusted contribution margin is defined as GAAP revenue less adjusted operating expenses, divided by GAAP revenue for the same period. Free cash flow – Free cash flow is defined as GAAP net cash provided by (used in) operating activities less purchases of property and equipment and internally developed software. Adjusted free cash flow (levered) – Adjusted free cash flow (levered) is defined as free cash flow plus the cash impact for adjusted EBITDA excluded charges. Free cash flow conversion – Free cash flow conversion is defined as free cash flow divided by adjusted EBITDA for the same period. Net leverage – Net leverage is defined as current maturities of long-term debt, plus borrowings under accounts receivable facility, plus long-term debt, less cash and equivalents and restricted cash, divided by adjusted EBITDA for the preceding twelve-month period. Reclassifications Certain amounts reported in prior years have been reclassified to conform to the presentation in the current year. These reclassifications had no effect on total assets, total liabilities, total stockholders' equity, or net income (loss) for the prior year. Cautionary Notes Regarding Forward Looking Statements This document includes statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws. All statements, other than statements of historical facts, that address activities, events or developments that we expect or anticipate may occur in the future, including such things as our outlook (including revenue, non-GAAP EBITDA, and free cash flow), our product development and planning, our sales pipeline, future capital expenditures, share repurchases, financial results, the impact of regulatory changes, existing and evolving business strategies and acquisitions and dispositions, demand for our services, competitive strengths, the benefits of new initiatives, growth of our business and operations, and our ability to successfully implement our plans, strategies, objectives, expectations and intentions are forward-looking statements. Also, when we use words such as “may”, “will”, “would”, “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “project”, “forecast”, “seek”, “outlook”, “target”, “goal”, “probably”, or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of Skillsoft’s management and are subject to significant risks and uncertainties. All forward-looking disclosure is speculative by its nature, and we caution you against unduly relying on these forward-looking statements. Factors that could cause or contribute to such differences include those described under “Part I - Item 1A. Risk Factors” in our Form 10‐K for the fiscal year ended January 31, 2024. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements included in our other periodic filings with the Securities and Exchange Commission. The forward-looking statements contained in this document represent our estimates only as of the date of this filing and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update these forward-looking statements in the future, we specifically disclaim any obligation to do so, whether to reflect actual results, changes in assumptions, changes in other factors affecting such forward-looking statements, or otherwise. Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this document, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved. Annualized, pro forma, projected and estimated numbers are used for illustrative purposes only, are not forecasts and may not reflect actual results. Additionally, statements as to market share, industry data and our market position are based on the most current data available to us and our estimates regarding market position or other industry data included in this document or otherwise discussed by us involve risks and uncertainties and are subject to change based on various factors, including as set forth above. SKILLSOFT CORP. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except number of shares and per share amounts) October 31, 2024 January 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 97,921 $ 136,308 Restricted cash 3,881 10,215 Accounts receivable, net of allowance for credit losses of approximately $558 and $562 as of October 31, 2024 and January 31, 2024, respectively 102,498 185,638 Prepaid expenses and other current assets 55,834 53,170 Total current assets 260,134 385,331 Property and equipment, net 3,543 6,639 Goodwill 317,071 317,071 Intangible assets, net 456,692 539,293 Right of use assets 5,054 8,044 Other assets 11,037 17,256 Total assets $ 1,053,531 $ 1,273,634 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current maturities of long-term debt $ 6,404 $ 6,404 Borrowings under accounts receivable facility 10,009 44,980 Accounts payable 21,159 14,512 Accrued compensation 28,325 31,774 Accrued expenses and other current liabilities 22,370 29,939 Lease liabilities 2,088 3,049 Deferred revenue 203,646 282,570 Total current liabilities 294,001 413,228 Long-term debt 574,312 577,487 Deferred tax liabilities 44,099 52,148 Long-term lease liabilities 6,839 9,251 Deferred revenue - non-current 1,823 2,402 Other long-term liabilities 11,977 13,531 Total long-term liabilities 639,050 654,819 Commitments and contingencies Shareholders’ equity: Shareholders’ common stock - Class A common shares, $0.0001 par value: 18,750,000 shares authorized and 8,576,683 shares issued and 8,276,906 shares outstanding at October 31, 2024, and 8,380,436 shares issued and 8,080,659 shares outstanding at January 31, 2024 1 1 Additional paid-in capital 1,559,547 1,551,005 Accumulated equity (deficit) (1,412,279 ) (1,321,478 ) Treasury stock, at cost - 299,777 shares as of October 31, 2024 and January 31, 2024 (10,891 ) (10,891 ) Accumulated other comprehensive income (loss) (15,898 ) (13,050 ) Total shareholders’ equity 120,480 205,587 Total liabilities and shareholders’ equity $ 1,053,531 $ 1,273,634 SKILLSOFT CORP. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenues: Total revenues $ 137,225 $ 138,956 $ 397,241 $ 415,697 Operating expenses: Costs of revenues 34,312 36,407 101,254 114,698 Content and software development 14,937 16,126 45,436 51,024 Selling and marketing 39,615 43,983 122,591 130,321 General and administrative 21,686 22,308 66,390 72,689 Amortization of intangible assets 31,826 38,620 95,197 116,086 Acquisition and integration related costs 931 510 3,349 2,838 Restructuring 3,095 873 15,361 8,592 Total operating expenses 146,402 158,827 449,578 496,248 Operating income (loss) (9,177 ) (19,871 ) (52,337 ) (80,551 ) Other income (expense), net (538 ) 19 1,261 (1,290 ) Fair value adjustment of warrants — 1,105 — 4,750 Fair value adjustment of interest rate swaps (822 ) 3,981 418 11,186 Interest income 924 1,060 2,897 2,576 Interest expense (15,845 ) (16,492 ) (48,538 ) (48,683 ) Income (loss) before provision for (benefit from) income taxes (25,458 ) (30,198 ) (96,299 ) (112,012 ) Provision for (benefit from) income taxes (1,859 ) (2,462 ) (5,498 ) (8,735 ) Income (loss) from continuing operations (23,599 ) (27,736 ) (90,801 ) (103,277 ) Gain (loss) on sale of business — — — (682 ) Net income (loss) $ (23,599 ) $ (27,736 ) $ (90,801 ) $ (103,959 ) Net income (loss) per share: Basic and diluted - continuing operations $ (2.86 ) $ (3.45 ) $ (11.11 ) $ (12.84 ) Basic and diluted - discontinued operations — — — (0.08 ) Basic and diluted $ (2.86 ) $ (3.45 ) $ (11.11 ) $ (12.92 ) Weighted average common shares outstanding: Basic and diluted 8,239,564 8,047,497 8,170,344 8,043,712 SKILLSOFT CORP. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended October 31, 2024 October 31, 2023 Cash flows from operating activities: Net income (loss) $ (90,801 ) $ (103,959 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of intangible assets 95,197 116,086 Stock-based compensation 9,985 22,917 Depreciation 2,404 2,629 Non-cash interest expense 1,628 1,546 Non-cash property, equipment, software and lease impairment charges 2,495 4,265 Provision for credit loss expense (recovery) (4 ) 205 (Gain) loss on sale of business — 682 Provision for (benefit from) deferred income taxes – non-cash (8,080 ) (10,270 ) Fair value adjustment of warrants — (4,750 ) Fair value adjustment of interest rate swaps (418 ) (11,186 ) Change in assets and liabilities: Accounts receivable 82,877 70,645 Prepaid expenses and other assets, including long-term 4,258 2,726 Right-of-use assets 1,632 2,184 Accounts payable 6,693 (3,283 ) Accrued expenses and other liabilities, including long-term (12,819 ) (20,820 ) Lease liabilities (3,387 ) (3,048 ) Deferred revenues (79,446 ) (75,250 ) Net cash provided by (used in) operating activities 12,214 (8,681 ) Cash flows from investing activities: Purchase of property and equipment (820 ) (3,753 ) Proceeds from sale of property and equipment 10 — Internally developed software - capitalized costs (13,018 ) (8,055 ) Sale of SumTotal, net of cash transferred — (5,137 ) Net cash provided by (used in) investing activities (13,828 ) (16,945 ) Cash flows from financing activities: Shares repurchased for tax withholding upon vesting of restricted stock-based awards (1,052 ) (1,441 ) Payments to acquire treasury stock — (8,046 ) Proceeds from (payments on) accounts receivable facility (34,971 ) 793 Principal payments on term loans (4,803 ) (4,803 ) Net cash provided by (used in) financing activities (40,826 ) (13,497 ) Effect of exchange rate changes on cash and cash equivalents (2,281 ) (1,674 ) Net increase (decrease) in cash, cash equivalents and restricted cash (44,721 ) (40,797 ) Cash, cash equivalents and restricted cash, beginning of period 146,523 177,556 Cash, cash equivalents and restricted cash, end of period $ 101,802 $ 136,759 Supplemental disclosure of cash flow information: Cash and cash equivalents $ 97,921 $ 129,806 Restricted cash 3,881 6,953 Cash, cash equivalents and restricted cash, end of period $ 101,802 $ 136,759 SKILLSOFT CORP. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (in thousands, unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenues Talent Development Solutions $ 102,998 $ 101,132 $ 302,725 $ 302,893 Global Knowledge 34,227 37,824 94,516 112,804 Total revenues, as reported $ 137,225 $ 138,956 $ 397,241 $ 415,697 Net income (loss), as reported $ (23,599 ) $ (27,736 ) $ (90,801 ) $ (103,959 ) Acquisition and integration related costs 931 510 3,349 2,838 Restructuring 3,095 873 15,361 8,592 Transformation costs 164 1,053 1,351 2,503 System migration costs — 510 118 1,580 Long-term incentive compensation expenses 4,099 7,962 10,438 22,917 Executive exit costs — — 3,326 — Fair value adjustment of warrants — (1,105 ) — (4,750 ) Fair value adjustment of interest rate swaps 822 (3,981 ) (418 ) (11,186 ) Foreign currency impact 524 (181 ) (1,297 ) 1,513 Gain (loss) on sale of business — — — 682 Tax impact of adjustments (1,057 ) (602 ) (3,349 ) (2,921 ) Adjusted net income (loss) from continuing operations (15,021 ) (22,697 ) (61,922 ) (82,191 ) Interest expense, net 14,921 15,432 45,641 46,107 Expense (benefit from) income taxes, excluding tax impacts above (802 ) (1,860 ) (2,149 ) (5,814 ) Depreciation 1,000 266 2,404 2,629 Amortization of intangible assets 31,826 38,620 95,197 116,086 Adjusted EBITDA from continuing operations $ 31,924 $ 29,761 $ 79,171 $ 76,817 Weighted average common shares outstanding: Basic and diluted 8,239,564 8,047,497 8,170,344 8,043,712 Basic and diluted per share information: Net income (loss), as reported $ (2.86 ) $ (3.45 ) $ (11.11 ) (12.92 ) Adjusted net income (loss) from continuing operations $ (1.82 ) $ (2.82 ) $ (7.58 ) $ (10.22 ) Adjusted net income (loss) margin % (10.9 )% (16.4 )% (15.6 )% (19.7 )% Interest expense, net 10.9 % 11.1 % 11.5 % 11.1 % Expense (benefit from) income taxes, excluding tax impacts above (0.6 )% (1.3 )% (0.5 )% (1.4 )% Depreciation 0.7 % 0.2 % 0.6 % 0.6 % Amortization of intangible assets 23.2 % 27.8 % 23.9 % 27.9 % Adjusted EBITDA margin % 23.3 % 21.4 % 19.9 % 18.5 % Adjusted gross margin 75.2 % 73.9 % 74.7 % 72.6 % Adjusted contribution margin 23.3 % 21.4 % 20.0 % 18.5 % SKILLSOFT CORP. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES - continued (in thousands, unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Operating expenses: GAAP costs of revenues $ 34,312 $ 36,407 $ 101,254 $ 114,698 Depreciation (91 ) (80 ) (315 ) (413 ) Long-term incentive compensation expenses (201 ) (128 ) (499 ) (463 ) Adjusted costs of revenues 34,020 36,199 100,440 113,822 GAAP content and software development 14,937 16,126 45,436 51,024 Depreciation (74 ) 22 (218 ) (169 ) Long-term incentive compensation expenses (857 ) (1,575 ) (3,061 ) (5,350 ) System migration — (510 ) (118 ) (1,580 ) Adjusted content and software development 14,006 14,063 42,039 43,925 GAAP selling and marketing 39,615 43,983 122,591 130,321 Depreciation (161 ) (160 ) (531 ) (839 ) Long-term incentive compensation expenses (1,595 ) (1,421 ) (3,648 ) (2,435 ) Transformation — (9 ) (213 ) (251 ) Adjusted selling and marketing 37,859 42,393 118,199 126,796 GAAP general and administrative 21,686 22,308 66,390 72,689 Depreciation (674 ) (48 ) (1,340 ) (1,208 ) Long-term incentive compensation expenses (1,446 ) (4,838 ) (3,230 ) (14,669 ) Transformation (179 ) (882 ) (1,192 ) (2,475 ) Executive exit costs — — (3,326 ) — Adjusted general and administrative 19,387 16,540 57,302 54,337 Total GAAP operating expenses 110,550 118,824 335,671 368,732 Depreciation (1,000 ) (266 ) (2,404 ) (2,629 ) Long-term incentive compensation expenses (4,099 ) (7,962 ) (10,438 ) (22,917 ) System migration — (510 ) (118 ) (1,580 ) Transformation (1) (179 ) (891 ) (1,405 ) (2,726 ) Executive exit costs — — (3,326 ) — Adjusted total operating expenses $ 105,272 $ 109,195 $ 317,980 $ 338,880 (1) This line item does not agree to the amounts reflected on preceding table due to certain transformation expenses not being reflected in GAAP operating expenses. SKILLSOFT CORP. FREE CASH FLOW RECONCILIATION (in thousands) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Free cash flow reconciliation Net cash provided by (used in) operating activities $ 8,717 $ (10,666 ) $ 12,214 $ (8,681 ) Purchase of property and equipment, net (411 ) (347 ) (810 ) (3,753 ) Internally developed software - capitalized costs (4,222 ) (2,104 ) (13,018 ) (8,055 ) Total free cash flow 4,084 (13,117 ) (1,614 ) (20,489 ) Cash impact for adjusted EBITDA excluded charges 10,089 2,306 17,187 10,098 Adjusted free cash flow (levered) $ 14,173 $ (10,811 ) $ 15,573 $ (10,391 ) View source version on businesswire.com : https://www.businesswire.com/news/home/20241210536898/en/ CONTACT: Investors: Ross Collins or Stephen Poe SKIL@alpha-ir.comMedia : Cameron Martin cameron.martin@skillsoft.com KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: TECHNOLOGY SECURITY OTHER TECHNOLOGY SOFTWARE INTERNET CONTINUING TRAINING DATA MANAGEMENT EDUCATION SOURCE: Skillsoft Corp. Copyright Business Wire 2024. PUB: 12/10/2024 04:05 PM/DISC: 12/10/2024 04:04 PM http://www.businesswire.com/news/home/20241210536898/en