
Redefining the future of regenerative medicine
Regulatory milestones, including obtaining the Orphan Drug Designation, facilitates the roadmap towards clinical trials in the U.S. and Europe. Commercially, the company is expected to offer solutions to companies interested in quality exosomes and minimally invasive targeted delivery systems for other indications. NurExone has established Exo-Top Inc., a U.S. subsidiary, to anchor its North American activity and growth strategy.
This is third-party provided content issued on behalf of NurExone Biologic Inc., please see full disclaimer here.
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Cision Canada
5 hours ago
- Cision Canada
Light AI reports Financial Results for Three and Six Months ended June 30, 2025
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During the three months ended June 30, 2025, the Company had total operating expenses, exclusive of interest, depreciation and share based payments, of $4.0 million compared to $4.2 million for the three months ended March 31, 2025 and $2.0 million for the three months ended June 30, 2025. The change is primarily attributable to the Company's incremental investment in its product development with total research and development expenses of $1.4 million in Q2 2025 compared to $1.2 million for the three months ended March 31, 2025 and $1.1 million in the prior year period in addition to marketing and investor relations activities of approximately $2.1 million in Q2 2025 compared to $2.4 million for the three months ended March 31, 2025 and $0.3 million in the prior year period. 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Management believes Adjusted Working Capital is a useful indicator for investors, and is used by management, for evaluating the operating liquidity to the Company. See "Adjusted Working Capital Reconciliation" for a quantitative reconciliation of Adjusted Working Capital to the most directly comparable financial measure. Such non-IFRS measures and non-IFRS ratio do not have a standardized meaning under IFRS and may not be comparable to a similar measure disclosed by other issuers. About Light AI Inc. (CBOE CA: ALGO / FSE: 0HC / OTCQB: OHCFF) Light AI Inc. is a technology company focused on developing artificial intelligence health screening and diagnostic solutions. Light AI is developing a technology platform which represents the next generation of patient management: it applies AI algorithms to smartphone images—starting with images of Strep A and anticipated expansion with COVID19 along with other medical conditions —to identify the disease in seconds. Its patented, app-based solution requires no swabs, lab tests or proprietary hardware of any kind—its hardware platform is the 4.5 billion smartphones that exist in the world today. Light AI is at the forefront of developing innovative screening and diagnostic solutions aimed at improving healthcare delivery worldwide. Their cutting-edge AI powered technology offers rapid, accurate, and cost-effective screening and diagnostic tools designed to address critical healthcare challenges. In pre-FDA validation studies, Light AI's algorithm demonstrated remarkable accuracy in differentiating between viral and bacterial pharyngitis, specifically targeting Group A Streptococcus (GAS). The algorithm achieved a 96.57% accuracy rate and attained a Negative Predictive Value of 100%, indicating its high reliability in confirming the absence of Streptococcus A infection. Viral and GAS pharyngitis affects over 600 million people annually worldwide. If left untreated, GAS pharyngitis can lead to serious complications such as Rheumatic Heart Disease (RHD), which imposes a global economic burden exceeding $1 trillion annually. Light AI's technology offers a significant advancement in the accurate and timely identification of GAS pharyngitis, potentially reducing the incidence of RHD and its associated costs. Light AI's approach to applying AI to smartphone images can be expanded to other throat conditions, as well as other areas of analysis, such as the human eye and skin. Light AI's vision is to combine the smartphone with AI in-the-Cloud to create a Digital Clinical Lab that provides quick and accessible diagnosis for countless conditions that today require expensive and time-consuming imaging or lab processes. Light AI's commercial launch of its consumer-facing Wellness App initial offering is anticipated to be available in North America in Q3 2025. ON BEHALF OF THE COMPANY "George Reznik" George Reznik Chief Financial Officer Telephone: 604-307-6800 Email: [email protected] For more information, please contact the Company at [email protected] or visit Forward-Looking Information: This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the Company's research and development and commercialization initiatives, the anticipated inflection of the business, the Company's financial and operational performance and outlook and other statements that contain words such as "believe," "expect," "project," "should," "seek," "anticipate," "will," "intend," "positioned," "risk," "plan," "may," "estimate" or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome of the plans and events described herein. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release. For a list of the factors that may affect any of the Company's forward-looking statements, please refer to the Company's annual information form dated April 14, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under its SEDAR+ profile at


Toronto Star
6 hours ago
- Toronto Star
VERSES Announces Filing of Quarterly Report on Form 10-Q
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Cision Canada
6 hours ago
- Cision Canada
Vertex Resource Group Ltd. Reports Second Quarter 2025 Results
SHERWOOD PARK, AB, Aug. 14, 2025 /CNW/ - (TSXV: VTX) - Vertex Resource Group Ltd. (" Vertex" or the "Company") reports its financial and operational results for the second quarter ended June 30, 2025. The following should be read in conjunction with the Management Discussion and Analysis ("MD&A") and the unaudited condensed consolidated interim financial statements of Vertex for the period ended June 30, 2025, which are available on SEDAR+ at Vertex operates within a dynamic North American landscape, marked by trade fluctuations and tariff uncertainties that have created challenges for several of the industries we operate in. Throughout the quarter, extensive forest fires and evacuations affected the execution of maintenance projects. Nevertheless, Vertex has demonstrated strategic resilience, as Environmental Consulting exceeded expectations and helped offset the impact on sectors within Environmental Services that are more susceptible to global volatility. Key financial results for the three and six months June 30, 2025, and 2024 are as follows: (1) See "Non-IFRS Financial Measures" HIGHLIGHTS FOR THE THREE MONTHS ENDED JUNE 30, 2025 Environmental Consulting net revenue increased by 13% compared to 2024. Environmental Consulting adjusted EBITDA (1) increased by 57% compared to 2024. G&A expenses were reduced by 10% compared to Q2 2024. Finance costs were reduced by 28% year-over-year due to reduced debt levels. Reduced loans and borrowings and lease liabilities by $2.9 million during the quarter. HIGHLIGHTS FOR THE SIX MONTHS ENDED JUNE 30, 2025 Environmental Consulting net revenue increased by 5% compared to H1 2024. Environmental Consulting adjusted EBITDA (1) increased by 37% compared to 2024. G&A expenses were reduced by 12% compared to H1 2024. Finance costs were reduced by 23% year-over-year due to reduced debt levels. Reduced loans and borrowings and lease liabilities by $5.9 million during H1 2025. OUTLOOK The first half of 2025 has presented macroeconomic challenges that continue to pressure commodity prices, capital investment, and broader market sentiment. These factors have contributed to increased customer uncertainty, resulting in deferred investment decisions, subdued activity levels across key regions, and a shift in focus toward cash flow preservation and operational efficiency. While these factors have impacted Vertex, we remain resilient with a focused view of the evolving landscape. We remain committed to core objectives and have proactively adjusted our execution strategy to navigate current conditions. Cost management remains a top priority, and we are actively pursuing strategic adjustments to enhance our efficiency and strengthen our corporate framework. By reducing capital expenditures for the remainder of 2025, we are preserving liquidity and maintaining the flexibility needed to respond to emerging opportunities while continuing to reduce debt levels. When market conditions stabilize, Vertex is well-positioned to capitalize on new opportunities and deliver long-term value. Our cautious optimism reflects both the realities of the current environment and our confidence in the company's ability to thrive through disciplined execution and strategic agility. ABOUT VERTEX Since 1962, Vertex has been a leading North American provider of environmental services. Headquartered in Sherwood Park, Alberta, Vertex employs a staff of approximately 1,000 employees and lease operators that provide services to help clients achieve their developmental and operational goals. From initial site selection, consultation and regulatory approval, through construction, operation and maintenance, to conclusion and environmental cleanup, Vertex provides a wide array of services to customers operating in industries such as energy, mining, utilities, private development, public infrastructure, construction, telecommunications, forestry, agriculture and government. Vertex principally operates in Canada with select locations in the United States. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. NON-IFRS FINANCIAL MEASURES This release includes certain terms or performance measures that are not defined under International Financial Reporting Standards ("IFRS"), including "Adjusted EBITDA". The data presented is intended to provide additional information that should not be considered in isolation or as a substitute measure of performance prepared in accordance with IFRS. The non-IFRS measures should be read in conjunction with the Company's financial statements and accompanying notes. A) "Adjusted EBITDA" is a non-IFRS financial measure which is calculated by adjusting net income (loss) for the sum of income taxes, finance costs including interest accretion on lease liabilities, depreciation of property and equipment and right of use assets, amortization of intangible assets, share-based compensation, restructuring costs and impairment. The Company uses Adjusted EBITDA as an indicator of its principal business activities operational performance prior to consideration of how its activities are financed and the impact of taxation, non-cash depreciation and amortization, restructuring costs and other non-cash expenses such as impairments required under IFRS. Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures provided by other companies. Adjusted EBITDA is used by many analysts as an important analytical tool and the management of Vertex believes it is useful for providing readers with additional clarity on Vertex's operational performance. This measure is also considered important by the Company's lenders in determining compliance by the Company with the financial covenants under its lending arrangements. B) "Free cash flow" is a non-IFRS financial measure. The most directly comparable GAAP measure for free cash flow is cash flow from operating activities. A summary of the reconciliation of cash flow from operating activities to free cash flow is set forth in the table below. Management uses the term "free cash flow" for its own performance measure and to provide shareholders and potential investors with a measurement of the Company's efficiency and its ability to generate the cash necessary to fund its future growth expenditures, to repay debt and provide shareholder returns. C) " Adjusted Working Capital" is a non-IFRS financial measure which is calculated by reducing current liablities by the current portion of loans and borrowings, lease liablities and other liabilities. Adjusted working capital is used by Vertex to monitor its capital structure, liquidity, and it's ability to fund current operations. D) " Adjusted EBITDA per share, basic and diluted" is a non-financial measure which is calculated by dividing adjusted EBITDA by the weighted average shares outstanding – basic and diluted. Reconciliations of adjusted EBITDA, free cash flow and adjusted working capital are provided in the following tables. FREE CASH FLOW Three months ended Six months ended June 30, June 30, 2025 2024 2025 2024 Cash flows from operating activities 6,131 10,805 10,905 20,081 Changes in non-cash operating working capital items 55 (860) 670 (3,216) Maintenance capex (3,227) (6,092) (5,213) (10,093) Cash interest (1,404) (2,125) (3,105) (4,133) Depreciation of right of use assets - real property (690) (1,001) (1,678) (1,903) Proceeds from disposal of property and equipment 393 1,015 1,208 1,443 Free cash flow 1,258 1,742 2,787 2,179 ADJUSTED WORKING CAPITAL June 30, December 31, 2025 2024 Current assets 54,925 64,767 Current liabilities, less 53,273 61,417 Current portion of loans and borrowings (11,240) (12,096) Current portion of lease liabilities (7,515) (8,778) Current portion of other liabilities (333) (1,000) Current liabilities (excluding current portion of loans and borrowings, lease liabilities, and other liabilities) 34,185 39,543 Adjusted working capital 20,740 25,224 Forward-Looking Information This Press Release contains forward-looking statements and information ("forward-looking statements") within the meaning of applicable Canadian securities laws. The forward-looking statements contained in this Press Release are based on the expectations, estimates and projections of management of Vertex as of the date of this Press Release unless otherwise stated. The use of any of the words "believe", "expect", "anticipate", "contemplate", "target", "plan", "outlook", "potential", "estimated", "intends", "continue", "may", "will", "should" and similar expressions are intended to identify forward-looking statements. More particularly and without limitation, this Press Release contains forward-looking statements concerning anticipated financial performance; the outlook for 2025; the Company's ability to grow profitably; sufficiency of working capital; and with respect to Vertex's ability to meet evolving customer demands. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the industries in which Vertex operates in general, such as: Ability to access sufficient capital from internal and external sources Ability to market to new customers Ability to obtain equipment in a timely and cost-efficient manner Ability to secure work Adjustments and cancellations of backlog Changes in legislation, including but not limited to tax laws and environmental regulations Collection of recognized revenue Commodity price, interest rate and exchange rate fluctuations Competition, ethics, and reputational risks Compliance with environmental laws risks Cyber-security risks Economy and cyclicality Geopolitical risks Global pandemics Health, safety and environmental risks Industry and inherent project delivery risks Insurance risk Joint venture risk Labour matters Litigation risk Loss of key management; ability to hire and retain qualified and capable personnel Maintaining safe worksites Operational risks Potential for non-payment and credit risk and ongoing financing availability Third party credit risk Unforeseen weather conditions Unanticipated shutdowns, work stoppages, and lockouts Volatility of market trading Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on other factors that could affect the operations or financial results of the parties, and the combined company are included in reports on file with applicable securities regulatory authorities, including but not limited to: Annual Information Form for the year ended December 31, 2024, which may be accessed on Vertex's SEDAR+ profile at The forward-looking statements contained in this Press Release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as, and to the extent required by applicable securities laws. SOURCE Vertex Resource Group Ltd.