Urabandai SS http://urabandai-ss.com/ Thu, 19 May 2022 15:10:32 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://urabandai-ss.com/wp-content/uploads/2021/09/cropped-icon-32x32.png Urabandai SS http://urabandai-ss.com/ 32 32 Fund managers hope for more big salaries https://urabandai-ss.com/fund-managers-hope-for-more-big-salaries/ Thu, 19 May 2022 15:10:32 +0000 https://urabandai-ss.com/fund-managers-hope-for-more-big-salaries/

How come John Ions, Liontrust Asset Management (LIO) seasoned managing director, received £6.6m in his accounting year to March 2021? Over the past five years it has received almost £20m – the kind of amount you normally only see at the biggest companies in the FTSE 100. Liontrust, however, is hiding in the foothills of the FTSE 250 index.

The short answer is, of course, performance-related pay, and there’s no doubt that Liontrust has grown by leaps and bounds. Ions’ earnings in 2021 were driven by impressive flows into its group’s funds, both domestic and overseas, which were boosted by three selective acquisitions. Profits soared, as did the share price – a transitional £2.6m of its £6.6m was due to share price gains.

His bonus, however, seemed to have been decided by what seemed right. The bonus pool just for him and the CFO was equivalent to half the increase in the group’s adjusted pre-tax profit, even though this had already been taken into account in determining the bonuses. Think of it as a form of profit sharing. Previously, non-executives had limited Ions’ bonuses to five times his salary (of £348,000), but the group had never adopted a formal cap, and for 2021 they have done so eight times. Of that £2.8 million bonus, £870,000 was in cash (2.5 times his salary) and the rest was in shares, which he will receive in three years as long as he does not resign (or does not behave badly), and there are no bad surprises in historical reporting or risk management.

Under the new policy proposed in February, the directors made sure to keep Ions’ full compensation: he could still receive £7million, but only for “outstanding overall performance” if the stock price of the stock increases by 50% over the next three years. . Their main aim was to rebalance executive pay packages, so they suggested raising Ions’ salary to ‘market standard’ for FTSE 250 companies by £550,000. It doesn’t matter that Liontrust is one of the smaller companies in the index – fund managers expect high compensation for themselves.

To compensate for this higher salary, they have set a bonus cap of 4.5 times salary (£2.475million). The bonus would continue to participate in additional profits, but the performance dashboards would “include a greater focus on ESG-type metrics” and be made more stringent. It would yield about 50% more in cash and proportionately less in stock. Since the two executive directors already own approximately one million shares of Liontrust each, they can instead choose to defer payment in Liontrust funds – a perk of working for a fund management company.

A dramatic change has also been proposed for long-term equity awards, which take the form of zero-cost options. Performance will be assessed over three years and executives will not be able to sell the shares for two years. But instead of tying that annual share award to salary, for Ions it’s set at 0.25% of the number of shares outstanding, which equates to 153,130 shares for each of the next three years. In February that would have been £2.3million, but the first reward isn’t due until June 2022, and since then the share price has fallen from £15 to around £10.

So what exactly was it about these proposals that shareholders didn’t like? The salary cap and increased clarity were to be welcome – the previous lack of transparency had fed suspicious minds. The severing of the link between equity awards and salaries was also positive – salary increases will no longer increase this performance-related pay. No, the main sticking point was the scale. So even if the administrators had modified the earlier proposals after comments from institutional investors who own more than half of Liontrust’s shares (and include CFP SDL UK Buffettology Fund (GB00BF0LDZ31) which owns 8%, BlackRock 7% and Abrdn 6, 5%), 45% of the votes at the general meeting opposed the new policy. This is despite the overwhelming majority approving his £6.6million pay report at the annual meeting a few months earlier. This protest was not enough to stop the policy from passing, but it was a setback. “The compensation committee is fully aware of the down votes,” the directors conceded, but remained adamant that “the best interest of all our stakeholders” is best served by keeping the “exceptional management team” alive. on board.

Fund managers rightly scrutinize executive compensation at the companies they invest in, so it’s reassuring that they can get a dose of their own medicine. Their own compensation is determined by the growth of the assets they manage, but it’s cyclical – when the markets go down, private investors run for the exits. In today’s market, if Liontrust’s best team can repeat last year’s performance, it will definitely be “outstanding”. But whether or not some deserve as much as that hypothetical £7m is another matter.

ZayZoon Recognized as a Rising Star at ADP Marketplace Partner Summit 2022 https://urabandai-ss.com/zayzoon-recognized-as-a-rising-star-at-adp-marketplace-partner-summit-2022/ Wed, 18 May 2022 11:15:00 +0000 https://urabandai-ss.com/zayzoon-recognized-as-a-rising-star-at-adp-marketplace-partner-summit-2022/


ZayZoon ADP Rising Star

ZayZoon ADP Rising Star

ZayZoon ADP Rising Star

PHOENIX, May 18, 2022 (GLOBE NEWSWIRE) — ZayZoon, a voluntary benefits provider that gives employees instant access to their earned pay on-demand, has been recognized as a rising star at the ADP Marketplace Partners Summit 2022. Committed to reducing financial stress related to cash shortfalls between paychecks, ZayZoon helps improve retention, increase productivity, and create a more engaged workforce.

After becoming an ADP Marketplace Partner last year, ZayZoon has implemented a seamless technical integration that allows any ADP Workforce Now® or RUN Powered by ADP® client to quickly activate pay-as-you-go for its employees. The channel team and customer success organization worked closely with ADP and its customers to help drive positive customer experiences and improve employee financial well-being.

“The growth we’ve seen through ADP Marketplace has been nothing short of amazing,” said ZayZoon Vice President of Growth Shubh Sidhu. “Since our first call with ADP, we have been able to physically and virtually attend several events and interact with hundreds of clients. We have been featured on the HRPreneur Podcast (The source) and named a Platinum Partner. If we did all of this in six months, imagine what we’re going to do in the next six years.”

Eighty-nine percent of employees who have access to ZayZoon report reduced financial stress. Decreased employee stress can translate to better engagement, less turnover, and easier recruiting. Customers Using ADP Workforce Now® and RUN can choose to activate the benefit to improve the lives of their employees and increase their bottom line without compromising their own cash flow or adding administrative costs.

Learn more and activate the ZayZoon Wages On-Demand integration for CLASSES or ADP Workforce Now® on ADP Marketplace.

About ZayZoon

ZayZoon is on a mission to improve employee health through the use of responsible financial products. We partner and onboard businesses of all sizes to provide their staff with access to our suite of products, including on-demand salaries, financial education, and personal finance tools. Workers around the world rely on predatory products like payday loans and overdraft fees to bridge the paycheck gap created by predetermined pay cycles – we aim to help break that cycle. ZayZoon’s on-demand access to salaries helps reduce financial stress and improve job satisfaction and productivity.

For more information about ZayZoon, visit zayzoon.com.

Chaz Somer

For ADP media inquiries:
Jason Leder
(973) 974-6851

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Toronto’s Fable raises US$10.5 million to make online accessibility a reality for users with disabilities https://urabandai-ss.com/torontos-fable-raises-us10-5-million-to-make-online-accessibility-a-reality-for-users-with-disabilities/ Tue, 17 May 2022 11:00:00 +0000 https://urabandai-ss.com/torontos-fable-raises-us10-5-million-to-make-online-accessibility-a-reality-for-users-with-disabilities/

Alwar Pallai, CEO and co-founder of Fable, an accessibility platform, says the Toronto startup “focuses on businesses that have large digital teams and billions of users.”Fred Lum/The Globe and Mail

Fable Tech Labs Inc., a fast-growing Toronto startup that helps companies make their digital products more usable by people with accessibility challenges, has raised US$10.5 million in venture capital.

The funding was led by Kansas City-based Five Elms Capital and backed by former investors Difference Partners and Disruption Ventures as well as Toronto financier John Ruffolo, who uses a wheelchair after a near-fatal traffic accident in 2020.

Fable quickly established itself as a go-to startup for major clients, including Microsoft Corp. MSFT-Q, the parent company of Facebook Meta Platform Inc. FB-Q, Shopify Inc. SHOP-T, Slack Technologies LLC, Walmart Inc. WMT-N and Telus Corp. TT to ensure that their digital offerings do not overlook visually or hearing impaired users or those with mobility issues.

“We are focused on companies that have large digital teams and billions of users,” Chief Executive Alwar Pillai said. “We believe that by helping them, we unlock access to many more users on the net.”

Ms. Pillai and COO Abid Virani co-founded Fable in 2018, a year after earning a master’s degree in inclusive design from the Ontario College of Art and Design University. Ms Pillai said she had written her masters thesis on how to design technology for older people and how digital tools could play a role in ensuring they do not feel socially isolated.

Her early work experiences, including stints as an accessibility expert for the Ontario Ministry of Education and as a user experience designer for Rogers Communications Inc., led her to realize that companies rarely practice the “ideal experience” for customers with accessibility issues they learned about in school.

“I just saw the deficit in how we build products,” she said.

“What I noticed was that everyone was talking about accessibility and trying to make products accessible, but no person with disabilities was in the room to give their perspective. … For me, it was essential to make sure we bring diverse perspectives to the product and work in progress so that people are more aware and can make more informed decisions.Ultimately, if you have a more inclusive process, you will have an accessible product . »

Fable offers a subscription service, engaging hundreds of people with disabilities to research and test products as they are developed by its customers. Users share feedback on Fable’s Engage platform, which the startup’s customers then review to determine how to improve their products’ accessibility features. Fable typically charges tens of thousands of dollars per year to its customers.

Mr Ruffolo said that when he looked into space he realized that the market for products and services to help users with reduced mobility was “bigger than I thought”, covering not only hearing and visually impaired, but also stroke survivors, people with Parkinson’s disease and aging users. He made the investment personally. “It’s a huge market and it will be bigger due to the aging of the population.”

Microsoft started working with Fable last year. “The partnership began with Fable working with us to research user accessibility to Microsoft sites and services, and has grown to include learning modules on how developers with disabilities can use Microsoft products. to do their best,” said Dona Sarkar, Chief Technology Officer. at Microsoft Accessibility.

“Working with an organization that shares the same passion for developer accessibility as Microsoft has been invigorating, which is why we’re so excited for the latest fundraising news from Fable,” she added.

Microsoft is one of a handful of tech giants, including Apple Inc. and Amazon.com Inc., that have added accessibility features to their products. For example, they introduced automated captioning and voice-over screen readers to describe images in videos and photos. Microsoft also offered vision-enabled tablet software as well as hardware alternatives to the keyboard, mouse, and game controller to help people with reduced mobility who struggle with standard navigation tools.

Yet online technology journal Engadget said in its annual industry accessibility report last December that “large organizations have continued to make decisions that exclude people with disabilities.”

Five Elms partner Austin Gideon said in an interview that he thinks accessibility considerations in technology development “may be where [data protection] and privacy was a decade before European mandates changed the whole landscape. I think historically, accessibility may have been seen as reactionary,” where companies only reacted to lawsuits or complaints.

But given that around 15% of users need some form of assistance using the technology, companies are “really seeing [engaging Fable] as a revenue opportunity” to develop their potential market, Gideon added.

He predicted that Fable, which has also started offering video courses for companies to design more accessible products, could quickly increase its revenue. They currently cost between US$50 million and US$100 million over the next five years.

“We are incredibly impressed with the financial performance” of the 60-person business and its potential for growth, he said.

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BOON INDUSTRIES, INC. Management report and analysis of the financial situation and operating results. (Form 10-Q) https://urabandai-ss.com/boon-industries-inc-management-report-and-analysis-of-the-financial-situation-and-operating-results-form-10-q/ Mon, 16 May 2022 19:21:04 +0000 https://urabandai-ss.com/boon-industries-inc-management-report-and-analysis-of-the-financial-situation-and-operating-results-form-10-q/


We are an innovative bio-scientific company that has developed an effective germ fighter, DiOx+, a disinfectant sterilizer that kills 99.99% of harmful pathogens without harmful toxic exposure to the user or the environment. Our DiOx+ is a broad-spectrum, activated chlorine dioxide (Cl02) sanitizer that kills dangerous pathogens with no residual toxicity. It protects the environment and human health from harmful viruses, bacteria and by-products left behind by other cleaning disinfectants, without unpleasant odor or skin irritation. Our proprietary chemical formulas and processes make DiOx+ ideal for sterilizing mission-critical and high-value medical equipment and for disinfecting air and surfaces in laboratory and hospital environments. DiOx+ helps protect agricultural crops against diseases and other pathogens such as molds and fungi. It is used in water treatment plants and helps reduce operating costs in warehouses, distribution centers and e-commerce support facilities.

Results of operations for the three months ended March 31, 2022and 2021

                            For the Three Months
                               ended March 31,
                             2022            2021         Change ($)       Change (%)

Revenue                  $     25,451     $   20,236            5,215             25.8 %
Cost of revenue                 8,285         12,115           (3,830 )          (31.6 )%
Gross profit                   17,166          8,121            9,045            111.4 %

Operating expenses            606,533        372,649          233,884             62.8 %

Loss from operations         (589,367 )     (364,528 )       (224,839 )          (61.6 )%

Other income (expense)     (3,978,168 )      968,474       (4,946,642 )         (510.8 )%

Net loss                 $ (4,567,535 )   $  603,946     $ (5,171,481 )           (856 )%



Revenue increased by $5,215 i.e. 25.8% compared to the previous year $25,451 in the three months ended March 31, 2022compared to $20,236 during the previous period. This increase is due to the recovery from the negative impact of the COVID-19 outbreak in March 2020.

Cost of Revenue

The Company’s cost of sales was $8,285 for the three months ended March 31, 2022a decrease of $3,830 i.e. approximately 31.6%, against $12,115 for the three months ended March 31, 2021. The decrease in revenue cost is due to improved productivity and reduced costs.

Operating Expenses

Operating expenses for the three months ended March 31, 2022and 2021, were
$606,533 and $372,649, respectively. The increase is mainly due to an increase in stock-based compensation expense of approximately $175,000
resulting from the fair value of common shares issued under advisory agreements and general and administrative expenses of approximately
$28,000 associated with the preparation of reports relating to being a public company and accounting fees.

Other Expense

Other expenses for the three months ended March 31, 2022been $3,978,168compared to other income $968,474 for the three months ended March 31, 2022.

Other expenses for the three months ended March 31, 2022consisted of $2,479,279
the expense resulting from the change in fair value of derivatives, $368,294 interest charges, and $1,130,595 the loss on the conversion of the Series A preferred shares into common shares.

Other income for the three months ended March 31, 2021consisted of $1,904,288
the result resulting from the change in fair value of derivative instruments, $225,881 interest charges, and $709,933 the loss on the conversion of the Series A preferred shares into common shares.

Net Loss

Net loss for the three months ended March 31, 2022been $4,567,535compared to a net result of $603,946 for the three months ended March 31, 2021. The increase in our net loss results from the changes described above.

Cash and capital resources

Our working capital deficiency as of March 31, 2022, and December 31, 2021, was
as follows:

                            March 31,       December 31,
                              2022              2021
Current Assets            $      73,921     $     127,104
Current Liabilities       $  73,080,066     $  71,626,880
Working Capital Deficit   $ (73,006,145 )   $ (71,499,776 )


The overall working capital deficit went from $71,499,776 to December 31, 2021for $73,006,145 to March 31, 2022. Current liabilities consist mainly of loans payable, convertible notes payable, liabilities derived from the bifurcated conversion feature embedded in hybrid debt instruments, related party liabilities and Series A preferred shares classified as liabilities. The increase in the working capital deficit is mainly due to an increase in the fair value of the derivative liability and the conversion of the Series A preferred shares into common shares during the three months ended March 31, 2022.

Here is a selection of information from the cash flow statements for the three months ended March 31, 2022and 2021:

                                                March 31,      March 31,
                                                   2022           2021
Cash used in Operating Activities               $ (151,165 )   $ (214,820 )
Cash used in Investing Activities               $  (14,914 )   $        -
Cash provided by Financing Activities           $  145,394     $  239,378

(Decrease) Net increase in cash during the period ($20,685) $24,558

Going Concern

Since January 1, 2022and through March 31, 2022the Company raised approximately $0.1 million in debt transactions. These funds were used to finance the day-to-day operations of the business. Our accompanying financial statements have been prepared on the assumption that the Company will continue as a going concern, which contemplates the realization of assets and the settlement of liabilities in the normal course of business for the twelve month period following the date of these financial statements. Our cash at March 31, 2022 was approximately
$2,700. The Company has suffered significant losses since its inception. Its current liabilities exceed its current assets and there is insufficient cash available to fund planned future operations. The Company plans to raise additional capital through debt and equity in order to continue financing its activities, which could have the effect of diluting the holdings of existing shareholders. However, there can be no assurance that the Company will be able to raise sufficient funds or generate sufficient revenue to pay its obligations as they come due, which raises substantial doubt as to our ability to continue our operations.

The Company’s ability to continue as a going concern depends on its ability to raise additional capital and implement its business plan.

The Company requires additional capital to fully execute its commercialization program and fund its current operations and development. Currently, we rely on additional fundraising to fill operational gaps. There can be no assurance that continued financing will be available on satisfactory terms. We intend to raise additional capital through the sale of shares, loans or other short-term financing options.

Off-balance sheet arrangements

We do not have any material off-balance sheet arrangements that have or are reasonably likely to have a present or future effect on our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or our capital resources which are important to our shareholders.


Management does not believe that our current industry is seasonal to any significant degree.

Critical Accounting Polices

There have been no material changes in our critical accounting policies, from the critical accounting policies and material judgments and estimates disclosed in our Annual Report on Form 10-K for the year ended
December 31, 2021filed with the SECOND on April 14, 2022.



For an analysis of contingencies, see note 10, Commitments and contingencies, of the notes to the consolidated financial statements in “Part I, point 1. Consolidated financial statements (unaudited)” of the quarterly report.

Off-balance sheet arrangements

During the period ended March 31, 2022we have not entered into any off-balance sheet arrangements.

Recent accounting pronouncements

For a list of our new and recently adopted accounting standards, see Note 2, Summary of Significant Accounting Policies, in the Note to the Consolidated Financial Statements in “Part I, Item 1. Consolidated Financial Statements (Unaudited)” of this report. quarterly.

© Edgar Online, source Previews

What if you can’t pay the medical bills? https://urabandai-ss.com/what-if-you-cant-pay-the-medical-bills/ Mon, 16 May 2022 08:39:55 +0000 https://urabandai-ss.com/what-if-you-cant-pay-the-medical-bills/

Are your medical bills and overdue notices piling up on your table? You might be tempted to throw them all away, but that won’t be the best solution. You can’t pretend your debt doesn’t exist even if you think you can’t afford to pay it back.
About 61% of consumers with medical debt reported feeling stressed, while 49% lost sleep over medical bills and 23% were unwilling to repay existing medical debt. Do not give up repaying this debt. Here’s what happens if you don’t pay your medical bills.

What happens if you don’t pay your medical bills?

You will feel stressed

Sure get a $200 payday loan no credit check may be an appropriate solution to cover your medical expenses without a credit check. But if you already have a mountain of medical debt that you can’t handle, you might be afraid of phone calls and collection offices.

Some collection agencies have aggressive tactics to return the money unless you write letters begging them to stop these behaviors or find a lawyer to protect you. You may want to offer a reasonable monthly payment and negotiate this arrangement with the doctor’s office or hospital.

Having to apply for payday loans for this purpose also brings added stress. According to research on payday loans in americamost borrowers use payday loans to fund their day-to-day expenses over the months, while the average borrower is in debt about five months a year.

Research shows that the first time consumers took out a payday loan, 69% used it to cover utilities, rent or credit card bills, while 16% used it as help with medical bills or auto repair.

Invoices can go to collections

You should take immediate action if the hospital billing department threatens to send your bills to collections. Medical bills on your credit report will seriously hurt your credit rating. You may need to work with the doctor’s office or hospital billing department if you want to avoid having your account sent to the collection agency.

Your credit rating may suffer

The health care provider may not send your account to collections. However, this does not mean that the result will be positive. The hospital may report missed or late payments to credit reporting agencies such as Equifax, Experian, or TransUnion.

Are Medical Bills Affecting Your Credit? Yes, once this information appears on your credit report, it goes into the Payment History category. This category accounts for 35% of your credit rating, so it can significantly lower your rating.

You can find a suitable solution

You should do your best to think about a settlement, payment plan, or some type of arrangement between you and the doctor’s office. The sooner you find a suitable solution, the more likely you are to avoid going to collections or lowering your credit score.

You can get a credit card with a 0% introductory APR for a long time. This option also depends on your credit rating, your ability to repay debt on time, and other factors.

It is possible to buy additional time

Did you know that credit reporting agencies must wait 180 days before posting outstanding debt on your credit report? They count 180 days after receiving information about your unpaid medical debt. In other words, you still have a six-month grace period to try to negotiate that debt and settle it. Otherwise, it will show up on your credit report and damage your rating.

Is a medical loan right for you?

Many people decide to take out a personal loan or a medical loan to finance their bills. It is important that you define whether applying for a medical loan can be a beneficial decision in your situation. It is useful if:

You can afford monthly payments

Many loans can be repaid in monthly installments or installments. If you calculate the total loan amount and it can easily fit into your budget, you can withdraw that money. Make sure you fully understand the loan terms and APR, and get a decent interest rate.

You consolidate your medical debt

Some consumers have high-interest medical bills that want to be consolidated. This decision will help you get a lower interest rate, manage your monthly loan payments, and pay off debt faster.

Do not take out a medical loan if:

You qualify for special programs and grants

Consumers, who are eligible for assistance from government programs, grants, and charities, may not need to apply for a medical loan. Look for alternative solutions or ask your hospital for a hardship plan before you decide to take out a loan.

High APR

Borrowers with poor and fair credit (FICO score below 689) may get a high creditor APR. As a result, you will have to pay higher interest rates and the total loan sum might not be affordable for you. If you calculate the total amount and find it too expensive with APRs above 36%, it is better to look for other options.

to summarize

You cannot neglect your medical debt. If you have a pile of medical bills, you need to find a proper way to get rid of them. Negotiating a pension plan with your doctor’s office or taking out a medical loan can save you the stress of the unpleasant consequences of non-payment.

If you don’t pay your medical bills on time, your debt can be collected while your credit score can take a big hit. If you want to maintain good credit and protect your credit history, follow our advice and think about the best solution for your current financial situation.

Is the loan between individuals suitable for you? https://urabandai-ss.com/is-the-loan-between-individuals-suitable-for-you/ Sun, 15 May 2022 19:00:14 +0000 https://urabandai-ss.com/is-the-loan-between-individuals-suitable-for-you/

Earlier this month, Fi, a neobank announced that it would offer P2P loans to its customers with yields of up to 9%. Fi is just the latest fintech player to enter this space. In August-September 2021, two other companies – Bharatpe and Cred – made similar announcements regarding the launch of P2P lending.

P2P, or peer-to-peer, lending involves a digital platform bringing together borrowers and lenders, essentially playing the role of a bank. Since the process excludes the middleman role, P2P allows lenders to earn a slightly higher return than bank FDs. Interestingly, a message on Bharatpe’s 12% club app states that it will “reopen soon” for new investments while existing investors will continue to receive refunds. Typically, fintechs allow investors to access their money within hours or 1-2 business days. This is made possible by holding a certain amount as a buffer and betting that not all investors will redeem their money all at once.

“CRED Mint has no fixed lock-up periods, providing liquidity to members through our marketplace by allowing them to instantly request withdrawals after 7 days and earn interest for the duration saved,” a spokesperson for CRED Mint said. CRED.

P2P lending is regulated by the Reserve Bank of India. Only non-bank financial companies (NBFCs) that have a P2P license can provide such loans. Fintechs usually partner with NBFCs such as LenDenClub or Liquiloans. The maximum duration of this type of loan is 36 months. We can lend to the maximum 50 lakh on all P2P platforms. People who lend more than 10 lakh in P2P must produce net worth certificate of more than 50 lakh from a chartered accountant. However, an investor’s exposure to a single borrower may not exceed 50,000.

Show full picture


How it works

P2P loans are personal loans and they usually pay an interest rate of 20-24%. These types of loans are taken out by individuals for purposes such as investing in their business, renovating their home, or family expenses like weddings. Borrowers are usually the self-employed or employees of the unorganized sector since employees of large companies can usually obtain personal loans from banks at lower rates. From the interest earned on the loans, a certain percentage is retained by the P2P platform (NBFC) and by the fintech platform, leaving the residual amount to the investor. In the case of Bharatpe, this amount is 12%, while in the case of Cred and Fi, it is 9%. Platforms like Fi and CRED say they filter out lower quality borrowers from the borrower base of P2P platforms. Therefore, the investor’s return is also lower. “Money invested in CRED Mint is lent to the community of trusted CRED members through CRED Cash, a CRED loan product. All CRED members have a credit score above 750. Members benefit from the elimination of commissions, inefficiencies and other overhead costs that eat away at typical returns and thus earn higher returns in the process,” said said the CRED spokesperson.

As a P2P investor, your returns depend on this simple math that goes awry due to rising defaults. P2P loan portfolios have NPA or non-performing asset rates. As long as the NPAs can be absorbed by the NBFC or fintech in the spread (the difference between the lending rate and the borrowing rate), the investor’s return is not affected. According to the Liquiloans website, gross non-performing assets as of March 31, 2021 represented 0.4% of the portfolio. This peaked at 0.6% in September 2020. For Lendenclub, the website shows a default rate of 3.48%. This figure peaked at 5.86% in the first quarter of fiscal 2021. The very different displays of risk suggest the absence of a standard calculation methodology. The Liquiloans website goes on to suggest that the NPA rate should be read cumulatively, over a loan cycle. For example, if the NPA rate is 5% for one quarter and the loan cycle is 2 quarters, you must deduct 10% of your return. “The credit default rate granted through CRED Cash has always been below 1%, the lowest among all existing credit providers. The money is also distributed among more than 200 borrowers to diversify and reduce risk,” the CRED spokesperson added.

P2P platforms argue that the risk levels are manageable despite the high interest rate. According to Bhavin Patel, CEO of LenDenClub, P2P platforms source borrowers from a variety of locations, including their own websites and apps, as well as other digital apps. The 20-24% interest rate is only marginally higher than what NBFCs charge, he added. “It does not follow that these borrowers are subject to default. P2P borrowers are generally low ticket size borrowers. The average size of our banknotes is approx. 20,000. These borrowers are not interest rate sensitive. Instead, they focus on the absolute amount they must repay. For example, 24% on a loan of 20,000 is 400, an amount that borrowers do not consider onerous,” he said. As an investor, however, this remains a high-risk product. If you’re interested in dipping your toes into it nonetheless, limit it to a small portion of your wallet.

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Virginia Court Approved $489 Million in Aid for Victims of Illegal Internet Payday Loans https://urabandai-ss.com/virginia-court-approved-489-million-in-aid-for-victims-of-illegal-internet-payday-loans/ Sat, 14 May 2022 13:20:37 +0000 https://urabandai-ss.com/virginia-court-approved-489-million-in-aid-for-victims-of-illegal-internet-payday-loans/

RICHMOND, Va. (WRIC) – The federal court in Richmond has given preliminary approval to a class action settlement that would provide $489 million in relief to victims of illegal internet lending.

The ruling was released Thursday, May 12, and will affect approximately 555,000 consumers who have been charged more than 600% interest on loans by predatory internet payday lenders.

Litigation against predatory lenders began more than three years ago when a coalition of law firms, including the Virginia Poverty Law Center, Kelly Guzzo and Consumer Litigation Associates, came together to address the ongoing challenge of lending illegal wages.

“These law firms have taken the illegal lenders to court,” said Jay Speer, executive director of the Virginia Poverty Law Center. “We are very grateful for their tenacity and passion in engaging in this three-year fight for today’s settlement.”

Today’s settlement is one of many these law firms have secured with illegal internet lenders in recent years, including a $433 million settlement in 2019.

The proposed settlement provides $450 million in consumer debt forgiveness that will be paid in cash for most consumers.

The settlement will also set aside $39 million for the creation of a common fund for those who have repaid illegal amounts.

Settlement Class Members will not need to submit a Claim Form and will receive notice by email or US Mail.

In addition to litigation, VPLC helps borrowers through the organization’s predatory lending hotline to 866-830-4501 and advocating for better laws to protect borrowers.

Twitter CEO Parag Agrawal’s lengthy message on the changes https://urabandai-ss.com/twitter-ceo-parag-agrawals-lengthy-message-on-the-changes/ Sat, 14 May 2022 02:47:07 +0000 https://urabandai-ss.com/twitter-ceo-parag-agrawals-lengthy-message-on-the-changes/

Twitter CEO Parag Agrawal posted a lengthy thread about recent changes to the team

New Delhi:

Twitter CEO Parag Agrawal posted a detailed thread about recent changes to his team and why he made them at a time when the microblogging site is set to be acquired by the CEO of Twitter. Tesla, Elon Musk.

The lengthy post came a day after Twitter fired two senior executives and Mr. Musk announced that the $44 billion deal to acquire the site is currently on hold pending data on fake accounts.

Mr Agrawal said that “some have asked why a ‘lame duck’ CEO would make changes if we got bought out anyway”.

“The short answer is very simple: While I expect the deal to go through, we need to be prepared for all scenarios and always do what’s right for Twitter. operating Twitter, and our job is to build a Twitter every day.” he tweeted.

“No one at Twitter works just to keep the lights on. We take pride in our work. Regardless of future company ownership, here we are improving Twitter as a product and a business for customers, partners, shareholders and y’all,” he added.

The Twitter CEO added that he “will not use the agreement as an excuse to avoid making important decisions”.

“People have also asked: why manage costs now rather than after the close? Our industry is in a very difficult macroeconomic environment – right now. I will not use the deal as an excuse to avoid taking decisions important to the health of the company, nor any Twitter executive,” he wrote.

Mr Agrawal then added that he was ‘focused on the job’ and ‘you can expect more change for the better’.

“So what can you expect from me in the future? I am always focused on my job, and that includes making tough decisions when needed. I will continue to embrace the deep complexities of our service and our business. And you can expect more change for the better,” he wrote.

He added that he “will try to bring more transparency to the work we do.” “You won’t see any tweets from me about the ‘topic of the day’ or loudest soundbite, but rather about the ongoing, continuous and inspiring work our teams are doing to improve the public conversation on Twitter,” he said. he wrote.

He also thanked his team for their concentration and agility.

“Finally – so much gratitude to our entire Twitter team. They stayed strong and focused, sharp and nimble. They got the job done, like they always have. Forward,” he wrote.

VIRIDIAN THERAPEUTICS, INC. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND RESULTS OF OPERATIONS (Form 10-Q) https://urabandai-ss.com/viridian-therapeutics-inc-managements-discussion-and-analysis-of-financial-position-and-results-of-operations-form-10-q/ Fri, 13 May 2022 11:25:06 +0000 https://urabandai-ss.com/viridian-therapeutics-inc-managements-discussion-and-analysis-of-financial-position-and-results-of-operations-form-10-q/
The following discussion and analysis should be read together with our condensed
consolidated financial statements and the related notes thereto included in Part
I, Item 1 of this Quarterly Report and our consolidated financial statements and
related notes thereto for the year ended December 31, 2021 included in our
Annual Report on Form 10-K filed with the SEC on March 11, 2022 ("2021 Annual
Report on Form 10-K"). This discussion and other parts of this report contain
forward-looking statements reflecting our current expectations that involve
risks and uncertainties, such as our plans, objectives, expectations,
intentions, and beliefs. See "Forward-Looking Statements" for a discussion of
the uncertainties, risks, and assumptions associated with these statements.
Actual results and the timing of events could differ materially from those
discussed in these forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to, those identified
below and those discussed in the section entitled "Risk Factors" included
elsewhere in this Quarterly Report.

Overview and recent developments

We are a biotechnology company advancing new treatments for patients with
serious diseases that are underserved by today's therapies. Marketed therapies
often leave room for improvements in efficacy, safety, and/or dosing
convenience. We believe that first-generation drugs rarely represent optimal
solutions, and that the potential exists to develop alternatives that improve
patient outcomes, moderate side effects, enhance quality of life, ease access
and augment market competition. Our business model is to identify product
opportunities in indications for which clinical trial data demonstrating
compelling proof of concept for a targeted mechanism of action already exists,
but the competitive evolution of product profiles and number of entrants appears
incomplete. We intend to prioritize indications that fast-follower and bio
superior competition could create significant medical benefit for patients.

We are developing two product candidates, VRDN-001 and VRDN-002, to treat
patients who suffer from thyroid eye disease ("TED"). Our most advanced product
candidate, VRDN-001, is a differentiated humanized monoclonal antibody that
binds and blocks the insulin-like growth factor-1 receptor ("IGF-1R") with
subnanomolar affinity. This mechanism of action is clinically and commercially
validated for the treatment of TED. Our ongoing first clinical trial for
VRDN-001 is a Phase 1/2 proof of concept study that includes multiple
randomized, placebo-controlled cohorts of TED patients. This clinical trial is
designed to assess the potential for VRDN-001 to provide rapid improvements of
signs and symptoms of TED at six weeks, after two intravenous ("IV") infusions
of VRDN-001. We expect to announce top line proof of concept clinical data from
two patient cohorts in the third quarter of 2022.

Dose escalation and healthy volunteer enrollment is complete, and we continue to
enroll TED patients at sites in the U.S. and Canada. Each TED cohort includes
eight patients randomized in a 3:1 ratio to receive VRDN-001 or placebo. The
first cohort is evaluating two infusions of 10 mg/kg VRDN-001; the second cohort
is evaluating two infusions of 20 mg/kg VRDN-001.

The healthy volunteer portion of the trial includes doses of 3 mg/kg, 10 mg/kg
and 20 mg/kg in 13 subjects. No drug related adverse events associated with
hyperglycemia, hearing loss or muscle spasms have been reported to date. Other
adverse events have been generally comparable to placebo; to date, there have
been no infusion reactions or serious adverse events. Interim data for plasma
levels of IGF-1, a biomarker for target engagement, show a rapid increase that
saturated after the first infusion at levels that were similar for all doses
tested, including 3 mg/kg. Based on these results we now plan to enroll a cohort
of TED patients at a dose of 3 mg/kg following the completion of the 10 mg/kg
and 20 mg/kg cohorts in this trial. We expect to report top-line data from the 3
mg/kg cohort in the fourth quarter of 2022.

VRDN-002 is a distinct, next-generation IGF-1R antibody incorporating half-life
extension technology and is designed to support administration as a convenient,
low-volume, subcutaneous injection for the treatment of TED. In March 2022, we
announced dosing of the first subject in a first-in-human Phase 1 clinical trial
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evaluating VRDN-002. This is a single ascending dose clinical trial to explore
safety, tolerability, pharmacokinetics and pharmacodynamics of intravenously
administered VRDN-002 at doses of 3 mg/kg, 10 mg/kg, and 20 mg/kg in up to 16
healthy volunteers. We have completed dose escalation and expect to announce top
line data from this Phase 1 trial in the third quarter of 2022. Results from
this Phase 1 trial will confirm the feasibility of a low-volume subcutaneous
dosing paradigm for TED patients; we are planning a subcutaneous proof of
concept trial in TED patients as the next step in VRDN-002 development. We
believe a low- volume subcutaneous injection would improve convenience for
patients and physicians, mitigate treatment burdens, and expand the settings of
care for TED therapies.

In addition to developing therapies for TED, we are executing a similar
strategic approach to identify opportunities to develop fast-follower therapies
in other serious and/or rare disease indications. Our pipeline expansion is
focused on additional opportunities that leverage validated mechanisms and
technologies in therapeutic areas underserved by today's available medicines.
The most advanced of these programs is VRDN-004, a therapeutic monoclonal
antibody program currently in discovery stage for an undisclosed rare disease.
VRDN-005 is a second discovery-stage program for another undisclosed indication
in which we believe patient care can be advanced with a novel therapeutic
monoclonal antibody.

The COVID-19 pandemic

The on-going COVID-19 pandemic continues to cause disruption throughout the
United States and worldwide. We could be materially and adversely affected by
the risks, or the public perception of the risks, related to the COVID-19
pandemic or any other epidemic, pandemic or public health crisis. Such risks
include, but are not limited to, potential disruptions to our supply chain that
may limit our ability to manufacture drug product for our clinical trials, and
delays to our planned or future clinical trials. The ultimate extent of the
impact of any epidemic, pandemic or other public health crisis on our business,
financial condition and results of operations will depend on future
developments, which are highly uncertain and cannot be predicted, including new
information that may emerge concerning the severity of such epidemic, pandemic
or other public health crisis and actions taken to contain or prevent the
further spread, among others. While our business has not been materially
impacted by the COVID-19 pandemic to date, we cannot predict whether our
business, financial condition and results of operations will be affected by the
COVID-19 pandemic in the future.

Overview of financial operations


Historically, our revenues consisted primarily of upfront payments for licenses, milestone payments and payments for other research and development services earned under licensing and collaboration agreements as well as amounts earned in the some of the grants we’ve received.

In October 2020, we became party to a license agreement with Zenas BioPharma.
Since February 2021, we have entered into several letter agreements with Zenas
BioPharma in which we agreed to provide assistance to Zenas BioPharma with
certain development activities, including manufacturing. Under the terms of the
Zenas Agreements, we granted Zenas BioPharma an exclusive license to develop,
manufacture, and commercialize certain IGF-1R directed antibody products for
non-oncology indications in the greater area of China in exchange for upfront
non-cash consideration and non-refundable milestone payments upon achieving
specific milestone events during the contract term. Additionally, we may receive
royalty payments based on a percentage of the annual net sales of any licensed
products sold on a country-by-country basis in the greater area of China. The
royalty percentage may vary based on different tiers of annual net sales of the
licensed products made. Zenas BioPharma is obligated to make royalty payments to
us for the royalty term in the Zenas Agreements.

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In the future, we expect to continue to generate revenue from a combination of
license fees and other up-front payments, payments for research and development
services, milestone payments, product sales, and royalties in connection with
strategic alliances. We expect that any revenue we generate could fluctuate from
quarter to quarter as a result of the timing of our achievement of development
and commercial milestones, the timing and amount of payments relating to such
milestones, and the extent to which any of our product candidates are approved
and successfully commercialized by us or our strategic alliance collaborators,
if any. If we or our strategic alliance collaborators, if any, fail to develop
product candidates in a timely manner or to obtain regulatory approval for them,
then our ability to generate future revenue, and our results of operations and
financial position would be adversely affected.

Research and development costs

Research and development expenses include costs incurred for the research and development of our therapeutic programs and product candidates, which include:

• employee-related expenses, including salaries, severance, retention, benefits, insurance and stock-based compensation expenses;

•expenses incurred under agreements with clinical research organizations (“CROs”), investigational sites that conduct our clinical trials, and other clinical trial-related suppliers and consultants;

•the costs of acquiring, developing, and manufacturing and testing clinical and
preclinical materials, including costs incurred under agreements with contract
manufacturing organizations ("CMOs");

•costs associated with non-clinical activities and regulatory operations;

•licensing fees and milestone payments related to the acquisition and retention of certain licensed technologies and intellectual property rights; and

•installations, depreciation, market studies and other expenses, which include charges for rent and maintenance of installations, depreciation of leasehold improvements and equipment, and laboratory supplies.

We make non-refundable advance payments for goods and services that will be used
in future research and development activities. These payments are recorded as
expense in the period in which we receive or take ownership of the goods or when
the services are performed.

We record up-front and milestone payments to acquire and retain contractual
rights to in-licensed technology and intellectual property rights as research
and development expenses when incurred if there is uncertainty in our receiving
future economic benefit from the acquired contractual rights. We consider future
economic benefits from acquired contractual rights to licensed technology to be
uncertain until such a drug candidate is approved by the U.S. Food and Drug
Administration ("FDA,") or when other significant risk factors are abated.

Our research and development expenses may increase if we initiate new clinical
trials. The process of conducting clinical trials and preclinical studies
necessary to obtain regulatory approval is costly and time consuming. We, or our
strategic alliance collaborators, if any, may never succeed in achieving
marketing approval for any of our product candidates. The probability of success
for each product candidate may be affected by numerous factors, including
clinical data, preclinical data, competition, manufacturability, and commercial
viability of our product candidates.

Successful development of future product candidates is highly uncertain and may
not result in approved products. Completion dates and completion costs can vary
significantly for each future product candidate and

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are difficult to predict. We anticipate we will make determinations as to which
programs to pursue and how much funding to direct to each program on an ongoing
basis in response to our ability to maintain or enter into new strategic
alliances with respect to each program or potential product candidate, the
scientific and clinical success of each future product candidate, and ongoing
assessments as to each future product candidate's commercial potential. We will
need to raise additional capital and may seek additional strategic alliances in
the future in order to advance our various programs.

General and administrative expenses

General and administrative expenses consist primarily of salaries and related
benefits, including share-based compensation, and severance and retention
benefits related to our finance, accounting, human resources, legal, business
development, and other support functions, professional fees for auditing, tax,
and legal services, as well as insurance, board of director compensation,
consulting, and other administrative expenses.

Other income, net

Other income consists mainly of interest income, net of fees, and various non-recurring income items. We earn interest income on interest-bearing accounts, money market funds and short-term investments.

Significant Accounting Policies and Estimates

There were no changes to our critical accounting policies as disclosed in our
2021 Annual Report on Form 10-K during the three months ended March 31, 2022.
Our significant accounting policies are disclosed in Note 2. Summary of
Significant Accounting Policies to our condensed consolidated financial
statements included in Part I, Item 1 of this Quarterly Report.

Operating results

Comparison of the three months ended March 31, 2022 and 2021.

                                                               Three Months Ended
                                                                    March 31,                         Increase
                                                            2022                   2021              (Decrease)
                                                                 (in thousands)
Collaboration revenue - related party                $       216               $    1,451          $     (1,235)
Research and development expenses                         17,746                   13,806                 3,940
General and administrative expenses                        8,359                    6,160                 2,199

Other income, net                                            196                       55                   141


Revenue was $0.2 million for the three months ended March 31, 2022, as compared
to $1.5 million for the three months ended March 31, 2021. Revenue for both the
three months ended March 31, 2022 and 2021 was attributable to our collaboration
agreement with Zenas BioPharma. The $1.2 million decrease in revenue is due to
the timing of activities performed under the collaboration agreement.

Research and development costs

Research and development expenses were $17.7 million during the three months
ended March 31, 2022, compared to $13.8 million during the three months ended
March 31, 2021. The $3.9 million increase in research and development expenses
is primarily attributable to an increase of $1.3 million in personnel related

————————————————– ——————————


including share-based compensation, due to an increase in headcount; an increase
of $2.3 million in license fees due to the $2.5 million fee paid to Paragon
Therapeutics, Inc. during the three months ended March 31, 2022; an increase of
$1.9 million in clinical trial expenses related to our lead product candidates,
VRDN-001 and VRDN-002; and an increase of $0.3 million in consulting expenses.
Offsetting this increases was a decrease of $2.0 million related to
manufacturing activities and IND-enabling studies for both VRDN-001 and VRDN-002
that were incurred during the three months ended March 31, 2021.

General and administrative expenses

General and administrative expenses were $8.4 million during the three months
ended March 31, 2022, compared to $6.2 million during the three months ended
March 31, 2021. The $2.2 million increase in general and administrative expenses
is due primarily to an increase of $0.5 million of personnel related expenses,
including share-based compensation, due to an increase in headcount; an increase
of $0.3 million in board of directors expenses, including share-based
compensation; and increases of $1.0 million in professional expenses, including
external consulting fees, legal and auditing costs.

Other income, net

Other income, net was $0.2 million during the three months ended March 31, 2022
compared to $55 thousand during the three months ended March 31, 2021. Other
income (expense), net for both periods is comprised of interest income earned on
short-term investments as well as sub-lease income. The increase of $0.1 million
was due primarily to higher interest income earned due to a higher balance of
short-term investments, as well as an increase in sub-lease income.

Cash and capital resources

Summarized cash flows for the three months ended March 31, 2022 and 2021 are as

                                        Three Months Ended
                                            March 31,
                                       2022           2021         Increase (Decrease)
                                                       (in thousands)
Net cash provided by (used in):
Operating activities                $ (21,042)     $ (11,539)     $             (9,503)
Investing activities                    8,863         10,872                    (2,009)
Financing activities                      738          1,259                      (521)
Total                               $ (11,441)     $     592      $            (12,033)

Operating Activities

Net cash used in operating activities was $21.0 million for the three months
ended March 31, 2022, and primarily consisted of a net loss of $25.7 million,
adjusted for non-cash items of $5.0 million (primarily share-based compensation
of $4.7 million), and changes in working capital of $0.4 million.

Net cash used in operating activities was $11.5 million for the three months
ended March 31, 2021, and primarily consisted of a net loss of $18.5 million,
adjusted for non-cash items of $3.4 million (primarily share-based compensation
of $3.2 million), and changes in working capital of $3.5 million.

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Investing Activities

Net cash from investing activities was $8.9 million in the three months ended March 31, 2022and consisted mainly of $9.0 million the net proceeds from the maturities of short-term investments, and slightly offset by $0.2 million in the purchase of goods and equipment.

Net cash provided by investing activities was $10.9 million during the three
months ended March 31, 2021, and consisted of $10.9 million in net proceeds from
maturities of short term investments.

Fundraising activities

Net cash provided by financing activities was $0.7 million in the three months ended March 31, 2022and consisted mainly of $0.7 million proceeds from the exercise of stock options, and $0.1 million proceeds from the issuance of common shares under our employee stock purchase plan.

Net cash provided by financing activities was $1.3 million for the three months
ended March 31, 2021, and consisted primarily of $0.9 million of proceeds from
the exercise of common stock warrants and $0.3 million in proceeds from the
exercise of stock options.

Cash and capital resources

We have funded our operations to date principally through proceeds received from
the sale of our common stock, our Series A Preferred Stock, our Series B
Preferred Stock and other equity securities, debt financings, license fees, and
reimbursements received under collaboration agreements. As of March 31, 2022, we
had $175.4 million in cash, cash equivalents, and short-term investments. We
expect that our current resources will enable us to fund our planned operations
into 2024.

We have no products approved for commercial sale and have not generated any
revenue from product sales. Since our inception and through March 31, 2022, we
have generated an accumulated deficit of $384.0 million. Substantially all of
our operating losses resulted from expenses incurred in connection with our
research and development programs and from general and administrative costs
associated with our operations.

We will continue to require substantial additional capital to continue the
development of our product candidates, and potential commercialization
activities, and to fund our ongoing operations. The amount and timing of future
funding requirements will depend on many factors, including the pace and results
of our clinical development efforts, equity financings, securing additional
license and collaboration agreements, and issuing debt or other financing
vehicles. Our ability to secure capital is dependent upon a number of factors,
including success in developing our technology and product candidates. Failure
to raise capital as and when needed, on favorable terms or at all, would have a
negative impact on our financial condition and our ability to develop our
product candidates. Changing circumstances may cause us to consume capital
significantly faster or slower than we currently anticipate. If we are unable to
acquire additional capital or resources, we will be required to modify our
operational plans to complete future milestones. We have based these estimates
on assumptions that may prove to be wrong, and we could exhaust our available
financial resources sooner than we currently anticipate. We may be forced to
reduce our operating expenses and raise additional funds to meet our working
capital needs, principally through the additional sales of our securities or
debt financings or entering into strategic collaborations.

Our material cash requirements include obligations as of March 31, 2022, as well
as resources required to fulfill our research and development activities and the
effects that such obligations and activities are expected to have on our
liquidity and cash flows in future periods. We expect that our operating losses
will fluctuate significantly from quarter to quarter and year to year due to
timing of our development activities and efforts to achieve regulatory approval.

————————————————– ——————————


If we raise additional funds through the issuance of debt, the obligations
related to such debt could be senior to rights of holders of our capital stock
and could contain covenants that may restrict our operations. Should additional
capital not be available to us in the near term, or not be available on
acceptable terms, we may be unable to realize value from our assets and
discharge our liabilities in the normal course of business, which may, among
other alternatives, cause us to further delay, substantially reduce, or
discontinue operational activities to conserve our cash resources.

Loan and guarantee agreement with Hercules Capital, Inc.

On April 1, 2022, we entered into a loan and security agreement (the "Hercules
Loan and Security Agreement") among the Company, certain of our subsidiaries
from time to time party thereto (together with the Company, collectively, the
"Borrower"), Hercules Capital, Inc. ("Hercules") and certain other lenders (the
"Lenders"). Under the Hercules Loan and Security Agreement, the Lenders provided
us with access to a term loan with an aggregate principal amount of up to $75.0
million, in four tranches (collectively the "Term Loan"), consisting of: (1) an
initial tranche of $25.0 million, available through June 15, 2023; (2) a second
tranche of $10.0 million, subject to the achievement of certain regulatory
milestones, available through June 15, 2023; (3) a third tranche of $15.0
million, subject to the achievement of certain regulatory milestones, available
through March 15, 2024; and (4) a fourth tranche of $25.0 million, subject to
approval by the Lenders' investment committee(s), available through December 15,
2024. The first tranche of $25.0 million will be available to us through June
15, 2023. Upon signing we drew an initial principal amount of $5.0 million.

The Term Loan bears interest at a floating per annum rate equal to the greater
of (i) 7.45% and (ii) 4.2% above the Prime Rate, provided that the Term Loan
interest rate shall not exceed a per annum rate of 8.95%. Interest is payable
monthly in arrears on the first day of each month. We are obligated to make
interest-only payments through April 1, 2024. If certain development milestones
are met, then the interest-only period will be extended to October 1, 2024, or
under a second extension if additional development milestones are met, to April
1, 2025. The obligations of the Borrower under the Loan Agreement are secured by
certain assets of the Borrower, including substantially all of the assets of the
Borrower, but excluding the Borrower's intellectual property.

ATM Agreements

In November 2021, we entered into an Open Market Sale AgreementSM (the "November
2021 ATM Agreement") with Jefferies LLC ("Jefferies") under which we can offer
and sell, from time to time at our sole discretion, shares of our common stock
having an aggregate offering price of up to $75.0 million through Jefferies as
our sales agent in an "at the market" offering. Jefferies will receive a
commission equal to 3.0% of the gross sales proceeds of any common stock sold
through Jefferies under the November 2021 ATM Agreement. As of March 31, 2022,
we have not sold any shares under the November 2021 ATM Agreement. As described
below, we were previously a party to the April 2021 ATM Agreement (defined
below) with Jeffries and the Cowen ATM Agreement (defined below) with Cowen and
Company, LLC ("Cowen") during the years ended December 2021 and 2020, and those
agreements are no longer in effect.

In April 2021, we entered into an Open Market Sale AgreementSM (the "April 2021
ATM Agreement") with Jefferies under which we could offer and sell, from time to
time at our sole discretion, shares of our common stock having an aggregate
offering price of up to $50.0 million through Jefferies as our sales agent in an
"at the market" offering. Jefferies received a commission equal to 3.0% of the
gross sales proceeds of any common stock sold through Jefferies under the April
2021 ATM Agreement. During the year ended December 31, 2021, we sold an
aggregate of 2,551,269 shares of common stock pursuant to the terms of the April
2021 ATM Agreement, at a volume weighted-average price of $13.13 per share, for
aggregate net proceeds of approximately $32.4 million, including initial
expenses for executing the "at the market offering" and commissions to Jefferies
as sales agent.

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Underwritten Public Offerings

In September 2021, we entered into an underwriting agreement (the "2021
Underwriting Agreement") with Jeffries, SVB Leerink LLC and Evercore Group, LLC
(collectively, the "Underwriters") for the sale and issuance of 7,344,543 shares
of common stock, which includes 1,159,089 shares of common stock issued in
connection with the exercise in full by the underwriters of their option to
purchase additional shares, at a public offering price of $11.00 per share and
23,126 shares of Series B Non-Voting Convertible Preferred Stock at a public
offering price of $733.37 per share (the "2021 Public Offering"). Our aggregate
gross proceeds from the 2021 Public Offering were approximately $97.7 million,
before deducting underwriting discounts and commissions and estimated offering
expenses payable by us.

In February 2020, we entered into an underwriting agreement with Oppenheimer &
Co., Inc. for the sale and issuance of 1,000,000 shares of our common stock and
warrants to purchase 500,000 shares of our common stock (the "2020 Public
Offering"). Each warrant has an exercise price of $16.50 per share, was
exercisable immediately and expires on the fifth anniversary of the date of
issuance. The 2020 Public Offering resulted in approximately $13.9 million of
net proceeds to us after deducting underwriting commissions and discounts and
other estimated offering expenses payable by us and excluding the proceeds from
the exercise of the warrants.

Purchase Agreements

In October 2020, we entered into a securities purchase agreement (the "Purchase
Agreement") with the purchasers named therein (the "Investors"). Pursuant to the
Purchase Agreement, we agreed to sell an aggregate of approximately 195,290
shares of Series A Preferred Stock for an aggregate purchase price of
approximately $91.0 million. Each share of Series A Preferred Stock is
convertible into 66.67 shares of our common stock, subject to specified
conditions. The powers, preferences, rights, qualifications, limitations, and
restrictions applicable to the Series A Preferred Stock are set forth in the
applicable certificate of designations. During the three months ended March 31,
2022, 47,871 shares of Series A Preferred Stock were converted into 3,191,555
shares of common stock.

In December 2019, we entered into a common stock purchase agreement with Aspire
Capital (the "Aspire Purchase Agreement"), which provides that, subject to the
terms, conditions, and limitations set forth therein, Aspire Capital is
committed to purchase up to an aggregate of $20.0 million of shares of our
common stock over the 30-month term of the Aspire Purchase Agreement. Upon
execution of the Aspire Purchase Agreement, we sold to Aspire Capital 106,564
shares of common stock at $9.38 per share for proceeds of $1.0 million as the
Initial Purchase Shares (as defined in the Purchase Agreement). During the year
ended December 31, 2020, we sold to Aspire Capital 412,187 shares of our common
stock at a weighted-average price of $21.35 per share for aggregate net proceeds
of $8.8 million. As of March 31, 2022, we have the ability to sell an additional
$10.2 million of shares of our common stock to Aspire Capital.

Contractual obligations and commitments

We are a smaller reporting company, as defined by Rule 12b-2 under the Exchange
Act and in Item 10(f)(1) of Regulation S-K, and are not required to provide the
information under this item.

© Edgar Online, source Previews

3 reasons why you should invest in travel https://urabandai-ss.com/3-reasons-why-you-should-invest-in-travel/ Fri, 13 May 2022 01:44:27 +0000 https://urabandai-ss.com/3-reasons-why-you-should-invest-in-travel/

You may have heard people say that buying travel is the only way to get rich. It seems totally wrong at first, but you probably understand the wisdom behind the words on deeper thought.

Traveling is a financial liability, an expense that reduces your money and your assets. However, small bonuses like friendship, knowledge and experience are invaluable.

When you travel, you connect with other people and experience their food, culture, music, and how they have fun.

3 reasons why you should invest in travel

1. Expand your horizons

When you travel a lot, you understand that our world is big and not the small corner you are used to. An authentic travel experience will help you show how people do things differently, have different cultures, or solve problems differently. You learn to appreciate your culture, their culture, and everyone’s unique and special way of doing things.

Traveling can help you find your place in the world. You begin to see life differently after all prejudice and ignorance have eroded away. You will be able to form more empathetic bonds with people and trust strangers. The knowledge you gain can open your eyes to new business ventures you never thought of before and help you make more money.

2. Make new friends

Whether you are a social person or not, traveling the world and creating friendships, bonds and memories with people from other parts of the world has many benefits. Your perspective broadens and becomes unconventional after you make friends and learn how various groups of people behave.

The reason most people travel is simply to meet new people and make new friends. When you make friends in a different country, you have a different experience from other tourists. Your new friends can show you around and help you find better, more exciting, and more affordable alternatives while giving you an accurate and personalized country experience.

Share stories and create memories with them to learn more about them. The mutual trust you develop on your journey can help you form long-term bonds with the people you meet.

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3. Boost your confidence

Another added benefit of travel is that you can adapt and adapt more quickly to a change in environment after occasionally placing yourself in new surroundings that you are unfamiliar with. Every time you travel, you cut yourself off from the comfort of your home and go somewhere with people who have a completely different way of doing things.

The people you meet each day will be exciting and new. Train and bus routes will be unfamiliar and confusing. The food looks strange and tastes different, and the languages ​​are incomprehensible. Embarking on a chaotic experience will help you discover who you are, build your confidence and sharpen your ability to make real-time decisions. The experience will change the way you see the world and discover your passion.


I hope this article has encouraged you to travel more to make new friends and have more experiences. Traveling helps you interact with many diverse cultures and understand people better, broadening your way of thinking.

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With the help of a loan finder service like Viva Payday Loans, you can travel to your dream vacation and escape your daily routines and busy schedules. You will also experience life differently, remedy your stress, cure your anxiety and release depression. Traveling is the best way to improve your physical and mental health.