Mother-Son Duo Takes Rinseroo to Shark Tank - Will They Land a Deal?
MILLSTONE TOWNSHIP, N.J., Jan. 29, 2025 /PRNewswire/ -- What started as one mom's frustration with her son's reluctance to clean his shower or bathe his pet has turned into a multi-million-dollar business. Now, Lisa Lane, founder of Rinseroo, and her son Jake are stepping onto the biggest entrepreneurial stage—Shark Tank!
On Friday, January 31st, from 8-9 p.m. ET/PT on ABC, Lisa and Jake will pitch Rinseroo, their patented slip-on hose attachment, to the panel of Sharks. Will they impress the investors and strike a deal? Viewers will have to tune in to find out!
A Simple Idea Turned Household Essential
Lisa's inspiration for Rinseroo came from a common household struggle—her son dreaded cleaning the shower and bathing the family dog because using a bucket-and-splash method was too much of a hassle. Determined to find a better way, she invented Rinseroo, a quick-connect, no-installation hose that makes rinsing easy.
Since its launch, Rinseroo has become a household essential with millions in sales and thousands of five-star reviews. It's helping people across the country clean faster, bathe pets with ease, and tackle everyday messes effortlessly.
Will Rinseroo Make a Splash in the Tank?
Lisa and Jake's pitch is unlike any other, filled with surprises, laughs, and a personal story that every busy family can relate to. But will the Sharks bite? Find out on Shark Tank, airing January 31st!
For more information about Rinseroo, visit www.rinseroo.com or follow @rinseroo on social media.
How to Watch:
Time: 8-9 pm ET/PT 7pm CT
Where: ABC & Streaming on Hulu
For media inquiries, interviews, or more information about Rinseroo, please contact:
Lisa Lane
Rinseroo is a brand that started as an a-ha moment in the shower and has revolutionized how people clean showers, bathe pets, and rinse messes with ease. Invented by Lisa Lane, a female entrepreneur and innovator, Rinseroo is transforming homes across the country.
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Upon registering, each participant will receive access details for this conference including an event passcode, a unique access PIN, dial-in numbers, and an e-mail with detailed instructions to join the conference call. Conference Call Preregistration： A telephone replay of the call will be available after the conclusion of the conference call until June 19, 2025. The dial-in details for the replay are as follows: U.S.: +1 877 344 7529 International: +1 412 317 0088 Replay PIN: 3857318 A live webcast and archive of the conference call will be available on the Investor Relations section of Uxin's website at About Uxin Uxin is China's leading used car retailer, pioneering industry transformation with advanced production, new retail experiences, and digital empowerment. We offer high-quality and value-for-money vehicles as well as superior after-sales services through a reliable, one-stop, and hassle-free transaction experience. Under our omni-channel strategy, we are able to leverage our pioneering online platform to serve customers nationwide and establish market leadership in selected regions through offline inspection and reconditioning centers. Leveraging our extensive industry data and continuous technology innovation throughout more than ten years of operation, we have established strong used car management and operation capabilities. We are committed to upholding our customer-centric approach and driving the healthy development of the used car industry. Use of Non-GAAP Financial Measures In evaluating the business, the Company considers and uses certain non-GAAP measures, including Adjusted EBITDA and adjusted net loss from operations per share – basic and diluted, as supplemental measures to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines Adjusted EBITDA as EBITDA excluding share-based compensation, foreign exchange (losses)/gain, other income/(expenses), structure realignment cost which was mainly severance cost and equity in income of affiliates. The Company defines adjusted net loss attributable to ordinary shareholders per share – basic and diluted as net loss attributable to ordinary shareholders per share excluding impact of share-based compensation, deemed dividend to preferred shareholders due to triggering of a down round feature and accretion on redeemable non-controlling interests. The Company presents the non-GAAP financial measures because they are used by the management to evaluate the operating performance and formulate business plans. The Company also believes that the use of the non-GAAP measures facilitate investors' assessment of its operating performance as this measure excludes certain finance or non-cash items that the Company does not believe directly reflect its core operations. The Company believe that excluding these items enables us to evaluate our performance period-over-period more effectively and relative to our competitors. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using Adjusted EBITDA is that it does not reflect all items of income and expenses that affect the Company's operations. Share-based compensation, other income/(expenses) and foreign exchange (losses)/gain have been and may continue to be incurred in the business. Further, the non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of Uxin's non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader, except for those transaction amounts that were actually settled in U.S. dollars. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2567 to US$1.00, representing the index rate as of March 31, 2025 set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Uxin's strategic and operational plans, contain forward-looking statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxin's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: impact of the COVID-19 pandemic, Uxin's goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxin's expectations regarding demand for, and market acceptance of, its services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in China's used car e-commerce industry; the laws and regulations relating to Uxin's industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxin's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media enquiries, please contact: Uxin Limited Investor RelationsUxin LimitedEmail: ir@ The Blueshirt GroupMr. Jack WangPhone: +86 166-0115-0429Email: Jack@ Uxin Limited Unaudited Consolidated Statements of Comprehensive Loss (In thousands except for number of shares and per share data)For the three months ended March 31, 20242025 RMBRMBUS$ Revenues Retail vehicle sales269,421465,51864,150 Wholesale vehicle sales39,72222,5473,107 Others10,00816,1642,227 Total revenues319,151504,22969,484Cost of revenues(298,109)(468,888)(64,614) Gross profit21,04235,3414,870Operating expenses Sales and marketing(50,815)(61,703)(8,503) General and administrative (75,336)(18,334)(2,526) Research and development(6,027)(2,899)(399) Reversal of credit losses, net35939554 Total operating expenses(131,819)(82,541)(11,374)Other operating income, net93511,9481,646Loss from operations(109,842)(35,252)(4,858)Interest income871 Interest expenses(23,970)(22,542)(3,106) Other income6226,285866 Other expenses(4,086)(655)(90) Foreign exchange gains511776107 Loss before income tax expense(136,757)(51,381)(7,080) Income tax expense(12)-- Equity in loss of affiliates, net of tax (5,951)-- Net loss, net of tax(142,720)(51,381)(7,080) Add: net profit attribute to redeemable non-controlling interests and non-controlling interests shareholders(1,629)(1,690)(233) Net loss attributable to UXIN LIMITED(144,349)(53,071)(7,313) Deemed dividend to preferred shareholders due to triggering of a down round feature(1,781,454)-- Net loss attributable to ordinary shareholders(1,925,803)(53,071)(7,313)Net loss(142,720)(51,381)(7,080) Foreign currency translation, net of tax nil667510 Total comprehensive loss(142,654)(51,306)(7,070) Add: net profit attribute to redeemable non-controlling interests and non-controlling interestsshareholders(1,629)(1,690)(233) Total comprehensive loss attributable to UXIN LIMITED(144,283)(52,996)(7,303)Net loss attributable to ordinary shareholders(1,925,803)(53,071)(7,313) Weighted average shares outstanding – basic4,465,415,46158,275,586,72258,275,586,722 Weighted average shares outstanding – diluted4,465,415,46158,275,586,72258,275,586,722Net loss per share for ordinary shareholders, basic(0.43)(0.00)(0.00) Net loss per share for ordinary shareholders, diluted(0.43)(0.00)(0.00) Uxin Limited Unaudited Consolidated Balance Sheets (In thousands except for number of shares and per share data)As of December 31,As of March 31, 20242025RMBRMBUS$ ASSETS Current assets Cash and cash equivalents25,112103,36614,244 Restricted cash76766892 Accounts receivable, net4,1502,750379 Loans recognized as a result of paymentsunder guarantees, net of provision for creditlosses of RMB7,710 and RMB7,707 as of December 31, 2024 and March 31, 2025, respectively--- Other receivables, net of provision for credit losses of RMB21,113 and RMB15,149 as of December 31, 2024 and March 31, 2025, respectively14,99812,4681,718 Inventory, net207,390189,90526,170 Prepaid expenses and other current assets86,97781,25911,198 Total current assets339,394390,41653,801Non-current assets Property, equipment and software, net71,42073,93110,188 Finance lease right-of-use assets, net1,346,7281,339,818184,632 Operating lease right-of-use assets, net 194,388193,23226,628 Total non-current assets1,612,5361,606,981221,448Total assets1,951,9301,997,397275,249LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' DEFICIT Current liabilities Accounts payable81,58483,89211,561 Other payables and other current liabilities306,391275,27837,934 Current portion of operating lease liabilities14,56313,3451,839 Current portion of finance lease liabilities183,852184,75225,460 Short-term borrowing from third parties174,616167,28523,052 Short-term borrowings from related parties (i)1,00039,3835,427 Total current liabilities762,006763,935105,273Non-current liabilities Long-term borrowings from related party (i)53,913-- Long-term borrowings from third party-14,3561,978 Consideration payable to WeBank27,23719,8382,734 Finance lease liabilities1,141,1181,159,433159,774 Operating lease liabilities180,920180,20724,833 Total non-current liabilities1,403,1881,373,834189,319Total liabilities2,165,1942,137,769294,592Mezzanine equity Redeemable non-controlling interests (ii)154,977170,66623,518 Total Mezzanine equity154,977170,66623,518Shareholders' deficit Ordinary shares (iii)39,81642,6215,873 Additional paid-in capital (iii)19,007,94819,151,2162,639,108 Subscription receivable from shareholders (iii)(60,467)(96,343)(13,276) Accumulated other comprehensive income227,718227,79331,391 Accumulated deficit(19,583,017)(19,636,088)(2,705,924) Total Uxin's shareholders' deficit(368,002)(310,801)(42,828) Non-controlling interests(239)(237)(33) Total shareholders' deficit(368,241)(311,038)(42,861)Total liabilities, mezzanine equity and shareholders' deficit1,951,9301,997,397275,249(i) Long-term borrowing from related party outstanding as of December 31, 2024 amounted to RMB53.9 million. 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Pursuant to which, Uxin Anhui fully repaid the total amount of principal and interests, amounting to RMB55.0 million, to Pintu Beijing by 2 installments, RMB15.0 million in March 2025 and RMB40.0 million in April 2025. Concurrently, Lightwind made an equivalent investment in the Company as the specified conditions for the investment had been fulfilled. As of March 31, 2025, the Company classified all remaining borrowings of RMB38.4 million as "Short-term borrowings from related parties" in current liabilities based on the revised repayment schedule.(ii) On October 16, 2024, the Company, through Uxin Anhui, entered into an agreement with Wuhan Junshan Urban Asset Operation Co.,Ltd. ("Wuhan Junshan"), a company indirectly controlled by Wuhan City Economic & Technological Development Zone, to establish a subsidiary, Wuhan Youxin Intelligent Remanufacturing Co., Ltd. ("Uxin Wuhan"). Uxin Anhui will contribute RMB66.7 million and Wuhan Junshan will contribute RMB33.3 million, representing approximately 66.7% and 33.3% of Uxin Wuhan's total registered capital, respectively. As of March 31, 2025, the Company and Wuhan Junshan each made contributions of RMB14.0 million to Uxin Wuhan, respectively, and the investment from Wuhan Junshan was recognized as redeemable non-controlling interests.(iii) On March 4, 2025, the Company entered into a share subscription agreement with Fame Dragon Global Limited (the "Investor"), an investment vehicle of NIO Capital, pursuant to which the Investor agreed to purchase 5,738,268,233 Class A Ordinary Shares of the Company for a total consideration of US$27.8 million. As of March 31, 2025, the Company has issued 3,911,092,516 Class A Ordinary Shares of the Company to the Investor and entities designated by the Investor with the receipts of US$14.0 million in March 2025 and US$5.0 million in April 2025, respectively. For the consideration of US$5.0 million that had not been received as of March 31, 2025 while the corresponding shares had been issued in advance in March 2025, the Group classified it as "Subscription Receivable from Shareholders" under the shareholders' substance, the Company issued a forward contract to the Investor, as the Investor is obligated to purchase the shares, and the Company is required to issue them upon the satisfaction of the closing conditions at the pre-agreed price and amount which shall be a deemed dividend to the forward contract holder recorded in the additional paid-in capital. In addition, given that this forward contract is considered indexed to the Company's own stock and meet the requirement for equity classification, it was also classified under the Company's equity and was initially measured at fair value amounting to RMB180.8 million with no subsequent remeasurement. * Share-based compensation charges included are as follows:For the three months ended March 31, 20242025 RMBRMBUS$ Sales and marketing—1,166161 General and administrative40,3888,0251,106 Research and development—61785 Uxin Limited Unaudited Reconciliations of GAAP And Non-GAAP Results (In thousands except for number of shares and per share data) For the three months ended March 31, 20242025 RMBRMBUS$ Net loss, net of tax(142,720)(51,381)(7,080)Add: Income tax expense12-- Interest income(8)(7)(1) Interest expenses23,97022,5423,106 Depreciation15,76016,5932,287 EBITDA(102,986)(12,253)(1,688)Add: Share-based compensation expenses40,3889,8081,352 - Sales and marketing-1,166161 - General and administrative40,3888,0251,106 - Research and development-61785 Other income(622)(6,285)(866) Other expenses4,08665590 Foreign exchange gains(511)(776)(107) Structure realignment cost13,948-- Equity in loss of affiliates, net of tax 5,951--Non-GAAP adjusted EBITDA(39,746)(8,851)(1,219)For the three months ended March 31, 20242025 RMBRMBUS$ Net loss attributable to ordinary shareholders(1,925,803)(53,071)(7,313) Add: Share-based compensation expenses40,3889,8081,352 - Sales and marketing-1,166161 - General and administrative40,3888,0251,106 - Research and development-61785 Add: accretion on redeemable non-controlling interests1,6501,688233 Deemed dividend to preferred shareholders due to triggering of a down round feature1,781,454--Non-GAAP adjusted net loss attributable to ordinary shareholders(102,311)(41,575)(5,728)Net loss per share for ordinary shareholders - basic(0.43)(0.00)(0.00) Net loss per share for ordinary shareholders – diluted(0.43)(0.00)(0.00) Non-GAAP adjusted net loss to ordinary shareholders per share – basic and diluted(0.02)-- Weighted average shares outstanding – basic4,465,415,46158,275,586,72258,275,586,722 Weighted average shares outstanding – diluted4,465,415,46158,275,586,72258,275,586,722Note: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00 = RMB7.2567 as of March 31, 2025 set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System. 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DIGI Leads Sustainable Retail Revolution at NRF APAC with COMBO, a Game-Changing Bulk Shopping Innovation
SINGAPORE, June 12, 2025 /PRNewswire/ -- DIGI, a global leader in retail solutions, showcased COMBO, a pioneering zero waste bulk system newly introduced to Asia, alongside a comprehensive range of sustainable retail technologies at the second edition of NRF APAC, held at Marina Bay Sands. Revolutionizing Bulk Shopping for Sustainability and Convenience Building on its successful debut at EuroCIS 2025 in Düsseldorf, Germany, COMBO captivated attendees at the three-day NRF APAC event with its innovative integration of REVO, a bulk bag dispenser, and the DRS-1000 reverse weighing scale. The DRS-1000 is the world's first OIML-approved reverse weighing system for trade, which removes the need for shoppers to tare their containers and streamlines weighing through automatic product call-up, reducing errors. Each REVO bulk bag replaces the equivalent of 40 standard packages, enabling retailers to significantly reduce packaging waste while protecting products from cross-contamination, humidity, and oxidation. Equipping Retailers for a Sustainable Future "Retailers often lack the right tools to advance their green missions. As a leader in retail innovation, we are continuously refining our solutions to empower them in achieving their sustainability goals." said Masayasu Takashima, Managing Director of DIGI Singapore. DIGI's commitment to sustainability was further demonstrated through its diverse portfolio showcased at NRF APAC, designed to boost operational efficiency while promoting environmental responsibility. Other sustainable innovations featured included: LX-5600: The world's first tray sealer that extends food freshness, reducing in-store food waste. DRV-100: A PET bottle reverse vending machine that preserves plastic quality for recycling. SM-6000 AI: An AI-powered self-service scale equipped with fraud prevention features. InfoTag: Durable electronic shelf labels with a lifespan of up to 10 years. Enchant Digital Poster: 28.5'' energy-efficient, full-color digital signage solution. DIGI's participation at NRF APAC 2025 reinforces its leadership in driving retail innovation and sustainability across the Asia-Pacific region, aligning with the event's focus on green technologies and future-ready retail solutions. DIGI will continue its commitment to sustainable innovation by participating in the inaugural NRF Retail's Big Show Europe in September. About DIGI At DIGI Group, we are committed to developing innovative products and services that prioritize environmental sustainability and contribute to a greener future. Our efforts focus on three core themes: circular economy, zero waste, and water safety — ensuring access to safe and reliable water for all. We believe that responsible product and service creation lies at the heart of our mission and will shape a better tomorrow for generations to come. Learn more: Press contact: Kai Lim – View original content to download multimedia: SOURCE DIGI SINGAPORE PTE LTD Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
