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Minnesota attorney general on Trump: ‘If he violates the rights of people, we’re going to sue’

The second-term DFLer says he’ll challenge Trump if Republicans push politics that contradict Minnesota laws.




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A new copyright rule lets McDonald's fix its own broken ice cream machines

What would a McDonald’s be without its temperamental McFlurry machines? We may be closer to finding out.




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The Universal Declaration of Human Rights: 75th anniversary (part 1)

The UDHR articulates in its 30 articles every human being’s basic, fundamental rights and freedoms and affirms those rights as universal and unalienable. The UDHR directly led to the development of the concept of international human rights law.




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Ikea extends trademark rights in Russia until 2033

IKEA extended the right to its trademark in Russia until August 2033. The IKEA trademark package included: the yellow-blue logo, a full list of company services and the right to officially sell its products in Russia. The headquarters of the corporation in the Netherlands submitted an application to Rospatent on August 1, 2023. The application was approved on February 2.




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German Chancellor Olaf Scholz: The right time to talk to Putin will come soon

"The right time" for a telephone conversation with Russian President Vladimir Putin will come soon, German Chancellor Olaf Scholz said in an interview with ARD. Scholz and Purin last spoke on December 2, 2022. Subsequently, Scholz has repeatedly said that he will speak to the Russian leader only when the "right time" comes. During the interview, journalists asked the chancellor when this "right time" would come. "Soon," Scholz replied, Stern reports.




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Retailers must have the right POS defences to safeguard ESLs, says Harrison Retail

In 2024, the retail landscape has continued to evolve rapidly, with leading retailers adopting the best solutions to increase efficiency and improve customer experience. In recent years, ESLs (Electronic Shelf Labels) have been viewed as the next big thing for accurate price communication and inventory management for retailers.




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N. Korea Slams EU for Proposing Human Rights Resolution

[International] :
North Korea has slammed the European Union(EU) for moving to adopt a resolution to address human rights violations in the North.  In an announcement carried by the state-run Korean Central News Agency, the North’s permanent mission to the UN criticized the EU for following what it called the United ...

[more...]




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RM Releases 2nd Solo Album 'Right Place, Wrong Person'

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Director Edgar Wright On His New Documentary ‘The Sparks Brothers’ And Why The Musicians Deserve To Be LA Rock Royalty

Edgar Wright attends the 55th Annual International Cinematographers Guild Publicists Awards at The Beverly Hilton Hotel on March 2, 2018 in Beverly Hills, California.; Credit: Tommaso Boddi/Getty Images

FilmWeek

The joke about Sparks — if you’ve even heard of them — is that it’s the best British band to come out of America. That confusion is why Edgar Wright, the director of “Baby Driver” and “Shaun of the Dead,” wanted to make his first documentary about the group, headed by brothers Ron and Russell Mael. Quite simply, Wright was tired of explaining who the band was and why he loves them. His documentary, called “The Sparks Brothers,” premiered at this year’s Sundance Film Festival. John Horn talked with Wright after its January premiere about his personal connection to the band, how he connected with the brother, the editing process of the documentary and more. The film is in theaters now.

With guest host John Horn

Guest: 

Edgar Wright, director of the new documentary “The Sparks Brothers;” he tweets @edgarwright

This content is from Southern California Public Radio. View the original story at SCPR.org.




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H.C. Wainwright & Co. Shares Buy Rating on Biotech Co.

Source: Ed Arce 10/09/2024

H.C. Wainwright & Co. analysts gave Unicycive Therapeutics Inc. (UNCY:NASDAQ) a Buy rating after the company announced the successful completion of the Phase 1 study for UNI-494 in healthy volunteers.

H.C. Wainwright & Co. analysts Ed Arce and Thomas Yip, in a research report published on October 9, 2024, maintained a Buy rating on Unicycive Therapeutics Inc. (UNCY:NASDAQ) with a price target of US$2.50. The report follows Unicycive's announcement of the successful completion of the Phase 1 study for UNI-494 in healthy volunteers.

Arce and Yip highlighted the significance of the study results, stating, "UNI-494 showed rapid metabolism, enabling the expected release of nicorandil and its linker." They added, "Importantly, PK results collected in the study showed fast absorption of UNI-494, with rapid metabolism leading to the expected release of nicorandil and its linker."

The analysts noted the safety profile of UNI-494, commenting, "UNI-494 was generally safe and well-tolerated; headache was the most common adverse event (AE), and all AEs were mild with no serious adverse events (SAEs) or AEs leading to withdrawal in Part 1."

Regarding Unicycive's strategic plans, the analysts stated, "Management plans to request a meeting with the FDA by year-end 2024 to review these Phase 1 results and discuss the design of a potential Phase 2 study in patients with acute kidney injury (AKI)."

The report also highlighted the pending milestone for Unicycive's other product candidate, Oxylanthanum Carbonate (OLC), noting, "We await the FDA's formal acceptance of the NDA for Oxylanthanum Carbonate (OLC) for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis (we expect by November 2) with a PDUFA date assignment to further narrow OLC's potential approval timing."

H.C. Wainwright & Co.'s valuation methodology for Unicycive is based on a risk-adjusted Net Present Value (rNPV) model. The analysts explained, "We employ a rNPV valuation model to estimate the value of UNCY shares and arrive at our US$2.50 PT based on: (1) about US$2.30 per share for royalties on net sales of OLC in the U.S. and EU (85% PoS, US$149.1M global peak revenue in 2034); and (2) about US$0.25 per share for royalties on net sales of UNI-494 in the U.S. and EU for AKI (20% PoS; US$195M global peak revenue in 2036)."

They added, "In our valuation model, we employ a 14.5% discount rate, which we believe adequately reflects the overall risks of the Unicycive development pipeline. We conservatively assume zero terminal value after the end of the market exclusivity period that runs through 2037."

The analysts also outlined several risk factors, including regulatory, commercialization, market, intellectual property, and funding risks.

In conclusion, H.C. Wainwright & Co.'s maintenance of a Buy rating and US$2.50 price target reflects a positive outlook on Unicycive Therapeutics' potential in developing UNI-494 for AKI and OLC for hyperphosphatemia. The share price at the time of the report of US$0.36 represents a potential return of approximately 594% to the analysts' target price, highlighting the upside potential if the company's clinical development and regulatory plans prove successful.

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Important Disclosures:

  1. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
  2. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co., Unicycive Therapeutics Inc., October 9, 2024

Important Disclaimers This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet.

H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility.

H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Ed Arce and Thomas Yip , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Unicycive Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of September 30, 2024 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Unicycive Therapeutics, Inc..

Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The Firm or its affiliates did not receive compensation from Unicycive Therapeutics, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Unicycive Therapeutics, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: UNCY:NASDAQ, )




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H.C. Wainwright & Co. Raises Price Target on Biotech Following Positive Regulatory Updates

Source: Andrew Fein 10/23/2024

DBV Technologies SA (DBVT:NASDAQ) received a raised target price after it released long-awaited regulatory clarity regarding the path forward for its Viaskin Peanut patch.

H.C. Wainwright & Co. analysts Andrew S. Fein, Matthew Caufield, Dr. Andres Y. Maldonado, and Dr. Ananda Ghosh, in a research report published on October 23, 2024, maintained a Buy rating on DBV Technologies SA (DBVT:NASDAQ) while raising their price target to US$7.00 from US$5.00. The report follows DBV's announcement of regulatory clarity regarding the path forward for its Viaskin Peanut patch.

The analysts highlighted the significance of the FDA agreement, stating, "DBV Technologies has reached an agreement with the FDA regarding the regulatory pathway for the Viaskin Peanut patch in toddlers aged one to three, under the Accelerated Approval pathway."

Regarding the company's development timeline, the analysts noted, "The Biologics License Application (BLA) submission for Viaskin Peanut in this age group is expected to be supported by positive efficacy and safety data from DBV's completed EPITOPE Phase 3 study, as well as additional safety data from the upcoming six-month COMFORT Toddlers supplemental safety study, which is expected to begin in 2Q25."

The report emphasized the strength of DBV's regulatory position, stating, "The FDA has stated that DBV has already satisfied two of the three criteria: the product treats a serious condition, and the product candidate provides a meaningful advantage over available therapies."

The analysts also highlighted progress in Europe, noting, "The EMA confirmed that the successfully completed EPITOPE Phase 3 efficacy and safety trial in the one to three-year-old population, along with positive results from the VITESSE study in the four to seven-year-old population, and a new safety study using the modified circular patch in one to three-year-olds, could support an MAA for the one to seven-year-old indication with the modified patch."

The analysts' valuation methodology for DBV Technologies is based on a composite approach. They explained, "Our US$7 price target is based on an equally weighted composite of: (a) US$5.10/share, as a 20x multiple of taxed and diluted FY34 GAAP EPS of US$5.13 discounted back to FY24 at 35%; and (b) an NPV of US$8.52/share with a 13% discount rate and 1% growth rate."

The report included commercial projections, with the analysts stating, "We continue to model initial approval in 2027, with projected initial sales of US$17.5M, growing to US$1,182.8M by 2034."

The analysts also outlined several risk factors, including potential clinical study failures, regulatory approval challenges, and market size uncertainties.

In conclusion, H.C. Wainwright & Co.'s increased price target to US$7 reflects growing confidence in DBV Technologies' regulatory pathway for the Viaskin Peanut patch. The share price at the time of the report of US$0.70 represents a potential return of approximately 900% to the analysts' target price, highlighting the significant upside potential if the company successfully navigates the regulatory process and commercializes its product.

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Important Disclosures:

  1. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
  2. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co. DBV Technologies S.A., October 23, 2024

Important Disclaimers This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet.

H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility.

H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Andrew S. Fein, Matthew Caufield, Andres Y. Maldonado, PhD and Ananda Ghosh, PhD , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of DBV Technologies S.A. (including, without limitation, any option, right, warrant, future, long or short position). As of September 30, 2024 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of DBV Technologies S.A.

Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The firm or its affiliates received compensation from DBV Technologies S.A. for non-investment banking services in the previous 12 months. The Firm or its affiliates did not receive compensation from DBV Technologies S.A. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in DBV Technologies S.A. as of the date of this research report.

The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: DBVT:NASDAQ, )




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AI Healthcare Co. With 'Bright' Outlook Closes Placement

Source: Streetwise Reports 10/31/2024

Healthcare artificial intelligence (AI) company Treatment.com AI Inc. (TRUE:CSE; TREIF:OTCMKTS; 939:FRA) has closed a non-brokered private placement for aggregate gross proceeds of CA$1.95 million. Find out why one analyst says the stock is a Strong Buy and worth going overweight on.

Healthcare artificial intelligence (AI) company Treatment.com AI Inc. (TRUE:CSE; TREIF:OTCMKTS; 939:FRA) announced that it has closed a non-brokered private placement for aggregate gross proceeds of CA$1.95 million.

A total of 2,138,766 special warrants of the company were offered at CA$0.75 per special warrant with proceeds of CA$1.6 million. The company also said 466,666 units of the company were offered at CA$0.75 per unit for proceeds of CA$349,999.50.

The company said it intends to use the proceeds for working capital purposes.

"We are very encouraged by the support from our investors with their overwhelming response to the financing and the subsequent over-subscription," Chief Executive Officer Dr. Essam Hamza said. "This money will help expedite our aggressive growth plans over the next year."

Technical Analyst Clive Maund noted on October 9* that the outlook for the company is "outstandingly bright" because it has "positioned itself to revolutionize the healthcare industry using AI and advanced machine learning technologies."

The company "is set to transform the current archaic system so that no longer do patients have to sit for hours in waiting rooms to see a doctor or doctors, and doctors and other healthcare professionals have to suffer a crushing burden of often unnecessary patient visits and tedious repetitive bureaucracy," he wrote. "Treatment AI's platform will take care of most of it."

Healthcare Professionals Worldwide Contribute to AI Engine

Treatment.com AI said it is a company utilizing AI and best clinical practices with a goal to positively improve the healthcare sector and impact current inefficiencies and challenges.

With the input of hundreds of healthcare professionals globally, Treatment.com AI said it has built a comprehensive, personalized healthcare AI engine called the Global Library of Medicine (GLM). With more than 10,000 expert medical reviews, the GLM is designed to provide tested clinical information and support to all healthcare professionals, as well as providing recommended tests (physical and lab), X-rays, and billing codes.

According to the company, the GLM will help healthcare professionals (doctors, nurses, and pharmacists) reduce administrative burdens, creating more time for face-to-face patient appointments.

"AI is set to expedite and streamline the healthcare industry, making it vastly more efficient for the benefit of both healthcare professionals and patients," Maund noted.

The Catalyst: A 'Profound Transformation' in the Industry

AI has an important role to play in the healthcare offerings of the future, a 2019 report from the National Center of Biomechanical Medicine listed in the National Library of Medicine said. "In the form of machine learning, it is the primary capability behind the development of precision medicine, widely agreed to be a sorely needed advance in care."

Healthcare organizations are increasingly turning to the technology to address both clinical and administrative challenges. The combination of generative AI, as noted by Appinventiv in September, and operational tools like those developed by Treatment.com AI are driving this transformation.

Generative AI is "catalyzing a profound transformation within the healthcare industry" by generating synthetic data, predicting patient outcomes, and optimizing treatment plans, all of which revolutionize clinical decision-making processes, Appinventiv reported. This aligns with Treatment.com AI's announced collaboration with SPRYT on September 17 whereby integrating SPRYT’s AI receptionist "Asa" with its GLM has the goal of enhancing patient access to healthcare while reducing administrative burdens.

A CBC report from September 16 said real-world applications of AI in healthcare are already showing promising results. Dr. Muhammad Mamdani, co-author of a study on the topic, expressed optimism about AI's ability to "complement clinicians' own judgment and lead to better outcomes for fragile patients."

According to a report by Markets and Markets, the global AI in healthcare market in total was valued at US$20.9 billion this year and will reach an estimated US$148.4 billion by 2029, a compound annual growth rate (CAGR) of 48.1%.

"The growth of AI in the healthcare market is driven by the generation of large and complex healthcare datasets, the pressing need to reduce healthcare costs, improving computing power and declining hardware costs, and the rising number of partnerships and collaborations among different domains in the healthcare sector, and growing need for improvised healthcare services due to imbalance between healthcare workforce and patients," the report said.

Analyst: A 'Genuine Breakout Soon' for Stock

Maund said its stock charts are also looking "very positive indeed" for the company.

Of particular note is the big upleg late in June and early in July on persistent heavy volume, which broke the price clear above the May high and drove volume indicators steeply higher," the analyst noted. [OWNERSHIP_CHART-10594]

"This is very bullish price/volume action, especially as the volume indicators have not just held up but have actually advanced as the price has reacted back in a normal manner from the early July high to arrive at a support level where it has stabilized above the 200-day moving average in readiness for renewed advance, so the correction looks like a large bull Pennant that, as it is now closing up, promises renewed advance soon," continued Maund, who said holders should stay long and rated the stock a Strong Buy that "is thought worth going overweight on."

"The June-July rally must be classed as a 'preliminary' breakout," he noted. "But that said, the exceptionally bullish price/volume action of recent months does promise a genuine breakout soon that looks set to lead to a sustained and substantial uptrend."

Ownership and Share Structure

According to Sedi.ca, insiders own approximately 8% of Treatment.com AI. Retail investors own the remaining 92%.

The company has 48.84 million outstanding common shares and has 41.3 million free float traded shares.

As of October 31, the market cap is approximately CA$31.75 million. Over the past 52 weeks, the company traded between CA$0.355 and CA$1.11 per share.

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Important Disclosures:

  1. Treatment.com AI has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Treatment.com AI.
  3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
  4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
  5. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

* Disclosure for quotes from the Clive Maund source October 9, 2024

  1. For the quote (sourced on October 9, 2024), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$1,500.
  2. Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts’ Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed.

Clivemaund.com Disclosures

The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.

( Companies Mentioned: TRUE:CSE; TREIF:OTCMKTS;939:FRA, )




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Burning Man Canceled: 'Relief' As Burners, Locals See Bright Side Of Informal Events

The pandemic has once again felled Burning Man. Some burners still plan to gather for informal events on the dusty Black Rock Desert Playa this summer.; Credit: Bernard Friel/Education Images/Universal Images Group via Getty Images

Emma Bowman | NPR

And so it goes: Burning Man 2021 is canceled. It's the second year in a row, the popular arts festival won't be held in Nevada's Black Rock Desert due to the pandemic.

"We have decided to set our sights on Black Rock City 2022," event officials announced in a blog post on Tuesday. In a frequently-asked-questions section, organizers added: "We've heard from many who don't feel ready to come to Black Rock City. While we're confident in our ability to get a permit and to safeguard public health, we know that co-creating Black Rock City in 2021 would put tremendous strain on our community while we are still ironing out uncertainty."

Many would-be attendees praised the decision in comments on the Burning Man website and on social media as a safe one; others are anxiously anticipating a bigger and better 2022 Burn.

But the cancellation has put many people in the event's host community at ease.

Wary of a trend of rising coronavirus cases in some parts of the region, Washoe County's district health officer Kevin Dick said "the right call was made," in order to lower the risk of spreading infection.

"The event draws thousands of people from all over the world," Dick said in an email. "We are seeing large outbreaks of COVID-19 occurring in a number of countries, areas where very contagious COVID-19 variants of concern are prevalent and where low rates of vaccination are occurring."

The head of a local Paiute tribe is also feeling less burdened knowing there won't be the annual pilgrimage. The main highway to get to the Black Rock Desert playa, which normally draws tens of thousands of people to the summer event, cuts through tribal lands.

"For us it is a sigh of relief," said Janet Davis, chairwoman of the Pyramid Lake Paiute Tribe.

Although the event — which brings in about $63 million to the state annually — gives the tribal community a welcome financial boost, Davis said.

"We don't know who's vaccinated and who's not," she said. "We've been trying to keep our reservation safe and that happening was too soon for us to open."

As with last year, the organization will offer virtual programming during Burn Week, from Aug. 29 through Sept. 7, an experience they say drew 165,000 participants in 2020.

In response to a request for more details on the reasons for the cancellation, Burning Man organizers declined to comment further. Earlier this month, though, CEO Marian Goodell said the organization was "weighing the gravity" of implementing a vaccination requirement that she said challenged "radical inclusion," one of the group's 10 principles.

Still, for many burners, the news won't extinguish their plans to trek to the desert in droves. Just like last year, revelers are preparing to hold unofficial gatherings on public land in place of the annual event.

Last summer, those events — the so-called "rogue" and "free" burns or, unmistakably, "Not Burning Man" — drew an estimated 3,000 people to Black Rock Desert during the time Burning Man is normally held, according to the Bureau of Land Management, the federal agency that approves the organization's permits each year.

Kevin Jervis, one such attendee who now lives in Gerlach — a tiny desert town near the event site — welcomed this year's cancellation.

He called it "more of a relief than anything. ... A lot of us liked it better the way it happened last year."

During the informal festivities, Jervis spent a few days between the playa and its outskirts. He said he and his fellow burners felt like it represented the festival's freewheeling roots.

"I've had friends that have been going since '94 and they said it was a lot more like it used to be. We didn't have to go by regulations," he said. "We could have guns, dogs ... it was a lot freer."

Even before the pandemic, burners increasingly saw an annual gathering under siege.

Event-goers who adhere to Burning Man's counterculture beginnings say the festival's explosion in popularity in the past decade has welcomed a host of bad actors who trash the desert and surrounding communities and disregard the event's founding principles, including "decommodification" and the eco-friendly philosophy of "leave no trace."

Some of those perceived threats come from festival officials themselves, he said. A ticket to the main event alone cost over $400 in 2019 — a financial hurdle critics say goes against another tenet long espoused, that "everyone is invited."

"People that have never been before came out last year because they either couldn't get a ticket other years or they were just kind of curious. Or they didn't have the money to go to the actual Burn," said Jervis.

As for the Pyramid Lake Paiute community, with the reservation largely closed during that period last year, Davis said, "we really didn't see the impact" from a public health standpoint.

"You're not talking about 65 — 75,000 people." While there was more traffic, she said, "they moseyed on through and moseyed on out."

In the years leading up to the pandemic, BLM had been cracking down on the event's growth. Were the festival to return this year, Burning Man organizers said they would have had to meet a population cap of 69,000, down from its 80,000 limit for previous events.

Jervis says he won't miss what he describes as organizers' leniency toward "elites" who set up VIP areas at their camps and hire out to construct their art creations instead of making their own.

"A lot of people have gotten sick of what Burning Man's kind of become," he said.

Even if this year was a go, he said, burners would still be setting up their own Burning Man-adjacent happenings.

Following the announcement of the event's cancellation, people are taking to Facebook groups to reminisce about last year's unsanctioned burns and discuss preparations for their own this summer.

"So it seems that as of today there isn't going to be an official [Burning Man Ceremony] this year," James Zapata wrote. "So who's joining me in the dust?"

Copyright 2021 NPR. To see more, visit https://www.npr.org.

This content is from Southern California Public Radio. View the original story at SCPR.org.




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