National Air and Space Museum Curator John Anderson describes major flight innovations made possible by the Full Scale Tunnel, built in 1931 at the National […]

The post Giant wind tunnel sped aircraft innovation appeared first on Smithsonian Insider.

At the Smithsonian’s National Museum of Natural History, curator of arachnids and myriapods Hannah Wood has examined and analyzed hundreds of pelican spiders both in the field […]

The post Pelican spiders: Ancient assassins that eat their own kind appeared first on Smithsonian Insider.

The Windows Defender Browser Protection tech support scam is a fake web site alert that states that Windows Defender Browser Extension detected someone to hack your bank account.

This article was published first at Remove the Windows Defender Browser Protection Tech Support Scam

What they observed was unique among all bird species: successful male caribs maintained and defended territories with nectar supplies that were two to five times greater than their daily needs and also isolated part of their crop for the exclusive feeding rights of visiting females.

The post A well-defended territory is what some female hummingbirds find most attractive in a mate appeared first on Smithsonian Insider.

Two grass species that had been relatively rare in the plots, Spartina patens and Distichlis spicata, began to respond vigorously to the excess nitrogen. Eventually the grasses became much more abundant. Nitrogen ultimately changed the composition of the ecosystem as well as its capacity to store carbon.

The post Scientists find excess nitrogen favors plants that respond poorly to rising CO2 appeared first on Smithsonian Insider.

Recently a team of scientists working at the Smithsonian’s Tropical Research Institute in Panama, decided to try and learn for the first time just which body parts the gliding ant C. atratus uses to steer as they glide.

The post Gliding ants steer with hind legs as they fly backwards, scientists learn appeared first on Smithsonian Insider.

They’ve got no roots or veins and grow in hanging pendants or tightly packed mats attached to stones, soil and wood. Called by some “the […]

The post Mosses have strong potential to acclimate to global warming, study indicates appeared first on Smithsonian Insider.

A joint Harvard-Smithsonian study released today in the journal PLOS ONE reveals how much — and how little — Northeastern forests have changed after centuries of intensive […]

The post 400-year study finds Northeast forests resilient, changing  appeared first on Smithsonian Insider.

One way to avoid a cold or the flu, doctors say, is to stay away from crowded places. Viruses spread fast in places where people […]

The post Sugar is key ingredient to evolutionary success of ants, researchers find appeared first on Smithsonian Insider.

By charting the slopes and crags on animals’ teeth as if they were mountain ranges, scientists at the Smithsonian’s National Museum of Natural History have […]

The post 3D study of teeth in modern mammals opens window to extinct animal diets appeared first on Smithsonian Insider.

“One cannot think well, love well, sleep well if one has not dined well,” Virginia Woolf once said. Woolf’s sentiment is one that the staff […]

The post Behind the scenes in the restaurant kitchen that feeds the National Zoo’s residents appeared first on Smithsonian Insider.

Each year from summer into fall, ornamental crape myrtle trees in the southern and central U.S. lay out a visual feast of vibrant flowers in […]

The post Crape myrtle trees aren’t native to the US, but hungry native birds still find them tasty appeared first on Smithsonian Insider.

This work presents a technique for extracting the detailed shape of peaks with extended, overlapping tails in an X-ray powder diffraction pattern. The application discussed here concerns crystallite size broadening, though the technique can be applied to spectra of any origin and without regard to how the profiles are to be subsequently analyzed. Historically, the extraction of profile shapes has been difficult due to the complexity of determining the background under the peak, resulting in an offset of the low-frequency components of the Fourier transform of the peak known as the `hook' problem. The use of a carefully considered statistical weighting function in a non-linear least-squares fit, followed by summing the residuals from such a fit with the fit itself, allows one to extract the full shape of an isolated peak, without contributions from either the background or adjacent peaks. The extracted shape, consisting of the fit function recombined with the residuals, is not dependent on any specific shape model. The application of this to analysis of microstructure is performed independently of global parametric models, which would reduce the number of refined parameters; therefore the technique requires high-quality data to produce results of interest. The effectiveness of the technique is demonstrated by extraction of Fourier transforms of peaks from two sets of size-broadened materials with two differing pieces of equipment.

An elementary method is described for finding the coordination sequences for a tiling, based on coloring the underlying graph. The first application is to the two kinds of vertices (tetravalent and trivalent) in the Cairo (or dual-32.4.3.4) tiling. The coordination sequence for a tetravalent vertex turns out, surprisingly, to be 1, 4, 8, 12, 16, …, the same as for a vertex in the familiar square (or 44) tiling. The authors thought that such a simple fact should have a simple proof, and this article is the result. The method is also used to obtain coordination sequences for the 32.4.3.4, 3.4.6.4, 4.82, 3.122 and 34.6 uniform tilings, and the snub-632 tiling. In several cases the results provide proofs for previously conjectured formulas.

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An operationally simple and time-efficient approach has been developed for the synthesis of racemic N-substituted 3-(2-aryl-2-oxoeth­yl)-3-hy­droxy­indolin-2-ones by a piperidine-catalysed aldol reaction between aryl methyl ketones and N-alkyl­isatins. These aldol products were used successfully as strategic inter­mediates for the preparation of N-substituted (E)-3-(2-hetaryl-2-oxo­ethyl­idene)indolin-2-ones by a stereoselective dehydration reaction under acidic conditions. The products have all been fully characterized by 1H and 13C NMR spectroscopy, by mass spectrometry and, for a representative selection, by crystal structure analysis. In each of (RS)-1-benzyl-3-hy­droxy-3-[2-(4-meth­oxy­phen­yl)-2-oxoeth­yl]indolin-2-one, C24H21NO4, (Ic), and (RS)-1-benzyl-3-{2-[4-(di­methyl­amino)­phen­yl]-2-oxoeth­yl}-3-hy­droxy­indolin-2-one, C25H24N2O3, (Id), inversion-related pairs of mol­ecules are linked by O—H⋯O hydrogen bonds to form R22(10) rings, which are further linked into chains of rings by a combination of C—H⋯O and C—H⋯π(arene) hydrogen bonds in (Ic) and by C—H⋯π(arene) hydrogen bonds in (Id). The mol­ecules of (RS)-1-benzyl-3-hy­droxy-3-[2-oxo-2-(pyridin-4-yl)eth­yl]indolin-2-one, C22H18N2O3, (Ie), are linked into a three-dimensional framework structure by a combination of O—H⋯N, C—H⋯O and C—H⋯π(arene) hydrogen bonds. (RS)-3-[2-(Benzo[d][1,3]dioxol-5-yl)-2-oxoeth­yl]-1-benzyl-3-hy­droxy­indolin-2-one, C24H19NO5, (If), crystallizes with Z' = 2 in the space group Poverline{1} and the mol­ecules are linked into com­plex sheets by a combination of O—H⋯O, C—H⋯O and C—H⋯π(arene) hydro­gen bonds. In each of (E)-1-benzyl-3-[2-(4-fluoro­phen­yl)-2-oxo­ethyl­idene]indolin-2-one, C23H16FNO2, (IIa), and (E)-1-benzyl-3-[2-oxo-2-(thiophen-2-yl)ethylidene]indolin-2-one, C21H15NO2S, (IIg), the mol­ecules are linked into simple chains by a single C—H⋯O hydrogen bond, while those of (E)-1-benzyl-3-[2-oxo-2-(pyridin-4-yl)ethyl­idene]indolin-2-one, C22H16N2O2, (IIe), are linked by three C—H⋯O hydrogen bonds to form sheets which are further linked into a three-dimensional structure by C—H⋯π(arene) hydrogen bonds. There are no hydrogen bonds in the structures of either (E)-1-benzyl-3-[2-(4-meth­oxy­phen­yl)-2-oxo­ethyl­idene]indolin-2-one, C24H19NO3, (IIc), or (E)-1-benzyl-5-chloro-3-[2-(4-chloro­phen­yl)-2-oxo­ethyl­idene]indolin-2-one, C23H15Cl2NO2, (IIh), but the mol­ecules of (IIh) are linked into chains of π-stacked dimers by a combination of C—Cl⋯π(arene) and aromatic π–π stacking inter­actions.

A method is described for indexing grazing-incidence X-ray diffraction data of epitaxially grown thin films comprising various crystal orientations and/or polymorphs by measuring reciprocal-lattice vectors.

The analytical solution of the problem of X-ray spherical-wave Laue diffraction in a single crystal with a linear change of thickness on the exit surface is derived. General equations are applied to a specific case of plane-wave Laue diffraction in a thick crystal under the conditions of the Borrmann effect.

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Los Angeles Unified school board candidates, from left, Andrew Thomas, Ref Rodriguez and Bennett Kayser take a group photo after a debate at Eagle Rock High School on Feb. 5, 2015. ; Credit: Cheryl A. Guerrero for KPCC

Los Angeles Unified school board candidate Ref Rodriguez collected $21,000 in campaign donations from employees of his charter school network, Partnerships to Uplift Communities, in his bid to unseat incumbent Bennett Kayser in East Los Angeles’ District 5.

Most striking, a handful of his workers – a janitor, maintenance worker, tutor — are donating at or near the contribution limit, $1,100.

The contributions are a measure of supporters' high hopes to unseat Kayser in favor of Rodriguez, a candidate friendly to charter schools.

Rodriguez, an charter school administrator at Partnerships to Uplift Communities, received most of his financial support from the California Charter School Association Advocates, which received donations from such wealthy donors as former New York Mayor Michael Bloomberg and philanthropist Eli Broad.

Kayser, a former teacher elected as a board member in 2011, collected his largest donations from labor unions, particularly the United Teachers Los Angeles. 

Most of the money working toward Kayser and Rodriguez's reelection are not funneled into their individual campaigns, but to independent expenditure committees which are not subject to the $1,100 contribution limit.

In her first foray into political giving, Luz Maria Lopez, an office worker, donated $1,000 donation to the Rodriguez campaign, twice the amount of Partnerships to Uplift Communities' CEO, Jacqueline Elliot.

“I really believe in Ref. My kids go to PUC schools,” said Lopez, who has been employed by PUC since it opened 15 years ago.  

The employee contributions weren't coerced and will not be reimbursed, Rodriguez said. Many of them can be traced back to a holiday break fundraiser at Rodriguez’s sister’s home in La Puente.

“I know for many of them this is a tremendous sacrifice,” he said. “It’s just been sort of an outpouring of folks belief in me and what we are trying to do for the city.”

Charter school groups major funders

Direct campaign donations from individual contributors, such as Rodriguez’ employees, make up 18 percent of the money spent in the LAUSD’s District 5 school board race. 

The biggest donor is charter school advocacy groups, such as the California Charter School Association Advocates.

Donations have also come from self-described education reform groups that support charter school expansion and firing teachers deemed ineffective, among other issues.

All told, the advocacy groups contributed more than $700,000 to activities in support of Rodriguez and working against Kayser.

On the other side, UTLA funneled $330,000 of members’ contributions to activities supporting Kayser and working against Rodriguez.

While UTLA has turned up its political spending in the board race to stay competitive, it is routinely outspent, said Oraiu Amoni, the union’s political director.

“We never are going to be able to match [reformers] dollar for dollar,” Amoni said. “So our biggest thing is making sure our members are educated, are engaged, are aware — and vote.”

So far, campaigns and committees have spent more than $2 million on the 13 Los Angeles Unified school board candidates, according to filings with the L.A. City Ethics Commission. The contributions have paid for mailing of glossy ads, phone banks, billboards, robocalls and commercials on Spanish-language radio. 

Total contributions are expected to increase in the few days remaining before the primary and swell again in any May runoff. 

Even in major races, aggressive campaigns fueled by growing contributions from special interest groups make it difficult for candidates not affiliated with interest groups to stay competitive.

Limitless independent expenditures are "playing a major role in smaller and local elections,” said Ryan Brinkerhoff, campaign manager for Andrew Thomas, the unaffiliated candidate in the District 5 race.

Thomas, a professor at Walden University, donated $51,000 to his campaign, making him his own biggest contributor. He’s also attracted sizable local support: about 70 percent of his campaign donations come from residents who live in District 5.

Thomas has received no contributions from political action committees or advocacy groups.

Can he win?

“I think so, but it’s getting harder and harder,” Brinkerhoff said. “The results of this election are going to be very telling.”

Outside contributors, local concerns

When public schools were created in the United States, local communities were given control over their governance. Outside money “undermines the relationship between community members and their local public institutions,” according to John Rogers, an education professor at UCLA. 

“It undermines their sense that they own those institutions, and those institutions are theirs to be shaped,” he said.

Without the funds from Broad, Bloomberg and other large donors, Rodriguez’s employees’ contributions would have made up more than 30 percent of his campaign support. Instead, it’s 4 percent.

Kayser has also received support from outside the district, including donations from the American Federation of Teachers and the California Teachers Association.

"The voters have an interest in open and transparent elections in which outside dollars don't have too large an influence," Rogers said. 

To read more about the school board election and City Council races, visit the KPCC 2015 voter guide.

Clarification: This article has been updated to make clear that the California Charter Schools Association does not support or advocate for teacher firing policies. Support for incumbent Kayser from outside the district has also been noted.

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

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A National Science Foundation-funded research has discovered the root cause of why lithium metal batteries fail -- bits of lithium metal deposits break off from the surface of the anode during discharging and are trapped as "dead" or inactive lithium that the battery can no longer access. The discovery challenges the conventional belief that lithium metal batteries fail because of the growth of a layer, called the solid electrolyte interphase (SEI), between the lithium anode and the electrolyte. The researchers made their discovery by developing a technique to measure the amounts of inactive lithium species on the anode -- a first in the field of battery research -- and studying their micro- and nanostructures. The findings could pave the way for bringing rechargeable lithium metal batteries from the lab to the market.

Image credit: University of California - San Diego

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A new study shows that the West Antarctic Peninsula is experiencing some of the most rapid climate change on Earth, featuring dramatic increases in temperatures, retreats in glaciers and declines in sea ice. The Southern Ocean absorbs nearly half of the carbon dioxide -- the key greenhouse gas linked to climate change -- that is absorbed by all the world's oceans. The study tapped an unprecedented 25 years of oceanographic measurements in the Southern Ocean and highlights the need for more monitoring in the region. The research revealed that carbon dioxide absorption by surface waters off the West Antarctic Peninsula is linked to the stability of the upper ocean, along with the amount and type of algae present. A stable upper ocean provides algae with ideal growing conditions. During photosynthesis, algae remove carbon dioxide from the surface ocean, which in turn draws carbon dioxide out of the atmosphere. From 1993 to 2017, changes in sea ice dynamics off the West Antarctic Peninsula stabilized the upper ocean, resulting in greater algal concentrations and a shift in the mix of algal species. That's led to a nearly five-fold increase in carbon dioxide absorption during the summertime. The research also found a strong north-south difference in the trend of carbon dioxide absorption. The southern portion of the peninsula, which to date has been less impacted by climate change, experienced the most dramatic increase in carbon dioxide absorption, demonstrating the poleward progression of climate change in the region.

Image credit: Drew Spacht/The Ohio State University

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Many people turn to the Internet to find a Mr. or Ms. Right. But lemurs just give their potential partners a sniff. A study of lemur scents has found that an individual’s distinctive body odor reflects genetic differences in their immune system, and that other lemurs can detect these differences by smell. From just one whiff, these primates can tell which prospective partners have immune genes different from their own. The ability to sniff out mates with different immune genes could make their offspring’s immune systems more diverse and able to fight more pathogens. Shown here: Fritz the ring-tailed lemur sniffs a tree for traces of other lemurs’ scents.

Image credit: David Haring/Duke Lemur Center

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On August 17, 2017, scientists made history with the first direct observation of a merger between two neutron stars. It was the first cosmic event detected in both gravitational waves and the entire spectrum of light, from gamma rays to radio emissions. The impact also created a kilonova -- a turbocharged explosion that instantly forged several hundred planets’ worth of gold and platinum. The observations provided the first compelling evidence that kilonovae produce large quantities of heavy metals, a finding long predicted by theory. Astronomers suspect that all of the gold and platinum on Earth formed as a result of ancient kilonovae created during neutron star collisions. Based on data from the 2017 event, first spotted by the Laser Interferometer Gravitational-wave Observatory (LIGO), astronomers began to adjust their assumptions of how a kilonova should appear to Earth-bound observers. A team of scientists reexamined data from a gamma-ray burst spotted in August 2016 and found new evidence for a kilonova that went unnoticed during the initial observations.

Image credit: NASA/ESA/E. Troja

Source: Streetwise Reports   05/05/2020

For the last several summer drill seasons, most of Aben Resources Ltd.'s (ABN:TSX.V; ABNAF:OTCQB) attention has centered on its 23,000-hectare Forrest Kerr Gold Project, located in northern British Columbia, in the heart of the Golden Triangle.

Some of Canada's greatest mines, such as Premier, Snip and Eskay Creek, have been found on the Golden Triangle, located just inland from the Alaska Panhandle. Other significant and well-known deposits located within the Triangle include Brucejack, Galore Creek, Copper Canyon, Schaft Creek, KSM, Granduc and Red Chris.

In recent years, the Golden Triangle area has attracted lots of new exploration as infrastructure improvements, such as roads and power lines, have made access easier.

Aben's drills at Forrest Kerr at the end of the 2017 season discovered the North Boundary Zone, where values as high as 21.5 g/t gold, 28.5 g/t silver and 3.1% copper over 6 meters were unearthed. The following year drilling uncovered multiple high-grade gold zones at shallow depths in the zone, including an interval of 62.4 g/t Au over 6.0m starting at 114 meters downhole, establishing the continuity of the North Boundary Zone. Drilling also found the South Boundary Zone, located 1.5 kilometers from the North Boundary Zone, where assays showed "broad horizons of low-grade gold mineralization punctuated by intermittent intercepts of moderate to high-grade gold-silver-copper-zinc values."

For the 2019 exploration season, in nearly 10,000 meters of drilling that wrapped up on October-November 2019, Aben focused on the area south of the North Boundary Zone. "We were trying to find, not just continuity, but a structural source to it. We were drilling and testing a lot of these anomalies that showed up in the mag survey that we did at the beginning of last year before the season started. That was giving us good targets to work with," Aben CEO Jim Pettit told Streetwise Reports.

"As we headed south, much like the South Boundary Zone that we drilled back in 2018, we came up with these good intersections of gold and silver, but there were also lead-zinc and broader intersections of lower grade. So we had obviously come out of that zone that was high grade into a different type of mineralization," Pettit explained.

Pettit is hopeful that Aben will be able to explore Forrest Kerr this year. "Mining is deemed an essential activity in British Columbia, but, because of the coronavirus, we are concerned about the safety of our workers. We will be discussing this with the Tahltan Central Government to develop the proper protocols and make sure that the safeguards are in place for safely operating a camp."

The company has spent the winter analyzing its data in preparation for exploration this year. "We've gone through and detailed meter by meter all the drilling we've done. We've got some pretty good looking concepts to work with where we could be looking for possibly the feeder zone for the high-grade system and continuity," Pettit stated.

"Because of what we did last year on the west side of the Creek Fault, we've encountered another fault system that seems to be controlling a lot of the lower-grade mineralization as we headed south.," Pettit said. "If we follow that back up north toward the high-grade North Boundary Zone, there is a very large blind anomaly there that was not tested because it was covered in scree. This could give us some tremendous targets to work with.” "

In November, Aben reported that its drilling satisfied the expenditure requirements set out in the 2016 option agreement on the Forrest claim block, resulting in the company's 100% ownership of the Forrest Kerr property.

In addition to exploring Forrest Kerr, "Aben is always on the lookout for new projects to extend its exploration potential throughout the year," Pettit said.

Disclosure:
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Aben Resources, a company mentioned in this article.

( Companies Mentioned: ABN:TSX.V; ABNAF:OTCQB, )

Source: Knox Henderson for Streetwise Reports   05/05/2020

News Update: A quick update since FansUnite Entertainment Inc. went live on Tuesday, May 5, because big things are happening in the industry, thus showing there is an enormous appetite for this kind of technology especially now, as we (very slowly) emerge out of this COVID pandemic. . .FansUnite is at a small-cap entry point with tremendous upside. After a financing at $0.35, the now-trading company rests slightly above that as a relatively new and unknown entity—so far—which is why now is great opportunity participate in a smaller scale, yet leveraged, consolidation play. "We have a great opportunity to use our stock as currency, and then grow and scale companies through our team and resources," says CEO Darius Eghdami. Read the entire update here.

Lets face it: gamers love games. While currently there's a dearth of real sports activity, that doesn't mean people aren't starving something to speculate on. No sports? No problem. Consider that there is $50 billion dollars placed online every year, according to ESPN. That's a lot of hungry money looking for a place to play.

So, despite the absence of the NFL, NHL, NBA and MLB, new online platforms are offering fun times for taking your chances on everything from reality TV shows, award shows, online gaming and virtual sports along with real in-the-flesh nail-biters like horse racing, table tennis and snooker. Who cares? It's all about the thrill of playing and winning. According to The The Guardian, just last week, "as coronavirus and the subsequent shelter-in-place orders have shut businesses around the globe and forced people to stay inside, some jobs have proven more stable than others," it said referring to online players. "The four U.S. states with legal sites—New Jersey, Nevada, Delaware, and Pennsylvania—reported record revenues in March." Meanwhile despite our current "modified behaviors" and "slowing of the economy," investors are also very keen on speculation in the gaming industry itself.

"FansUnite is at a small-cap entry point with tremendous upside."

Take, for example, DraftKings (NASDAQ:DKNG), which launched as recently as April 23, in the thick of this stay-at-home pandemic. After completing a merger with Diamond Eagle, a special purpose acquisition company, and back-end technology provider SBTech, its stock soared. Not only did DraftKings' stock jump 14% in its first day of trading before closing up 10.38% at $19.35, but the company was also able to add another half a billion dollars on the balance sheet at a time when it's not easy to raise money. The company is currently nearing a $1 billion market capitalization.

In this game, consolidation is key. Another highly successful big gaming conglomerate over-the-pond is UK-based GVC Gaming Group, which has been consolidating gaming assets over the last 15 years and is now worth $7.5 billion.

This week on the Canadian Securities Exchange (CSE) an emerging player is launching its platform onto the public market. FansUnite Entertainment Inc. (FANS:CSE), a company active in the gaming industry since 2014, is led by industry veterans who are looking to unleash their own high-growth consolidation strategy. The company is focusing on technology related to regulated and lawful internet activity and other related products.

Its business is to consolidate business-to-business (B2B) partnerships worldwide, operate its FansUnite business-to-consumer (B2C) coined Sportsbook launching later this year, and operate its recently acquired (March 26) Scottish subsidiary, McBookie, an online white-label sportsbook licensed and regulated by the U.K. Commission. Even considering the "COVID" delays in traditional sports, the company expects to generate at least $1 million in 2020. Considering FansUnite's experience in the space and its established technologies in an industry that is truly trending, FansUnite has a long runway from its current $25 million market cap to the billions-dollar peers it's chasing, and that is why this looks be a great stock to hold right out of the gate.

When you consider "B2B" in this scenario, consider an entity that wants to create a sportsbook, to become "the house," if you will. That company would turn to FansUnite to set up a turnkey "white-label" (as in use FansUnite technology but with its own brand) online platform, complete with user onboarding, fan integration and access to fulfillment in fiat currency (hard dollars) or cryptocurrency. For this service FansUnite takes a percentage of the "house earnings" and also charges for its Software as a Service (SaaS) platform. In the B2C scenario, FansUnite itself is the "house," using its own sportsbook and technology platform, and executes the marketing efforts to on-board new users.

McBookie, the company's first acquisition, is a white-label sportsbook in the UK, focusing on the Scottish market. It offers 200,000 members active in sports, and virtual games and boasts over $100 million turnover cumulatively the last three years. "It's a great brand with an experienced team operating for over a decade," says FansUnite CEO Darius Eghdami. "We completed this acquisition late March, and our focus currently is going to continue building our presence in the Scottish market."

Moving forward, Eghdami says the team will be putting an emphasis on M&A activity. "We'll continue to look for strong assets with either great technology or a strong database of users where we can come in with our team and resources and really grow and scale the business," he says.

With strong financial backing, Eghdami is also looking at potential opportunities in the colossal U.S. market. "The big heavyweights are coming into the U.S.. We don't intend to be an operator in the U.S., so we're looking at other ways to get in the market and that includes social peer activity, fan engagement, as well as licensed affiliate opportunities."

Eghdami points to another big success story in Canada, Amaya (TSE:TSGI), which is now The Stars Group and has a market capitalization of $11.5 billion. "It's a tremendous story of how they built the company and started to acquire assets. It's a model that we would love to follow."

After a crushing dip into the pandemic, TSGI.T is big-board player that has catapulted to new highs once the reality set in that social isolation might not necessarily be a bad thing for online gaming providers. According to Bloomberg, "The Stars Group Inc. says it saw record revenue in its first quarter as COVID-19 led to an increase in online activity starting in March. And, it says, it has continued to see increased activity in its online playing into the second quarter. In an update to its expectations for the three-month period ended March 31, the company says it expects revenue of approximately US$735 million, up from US$580 million in the first quarter of 2019."

"The stay-at-home lifestyle we now face in 2020 could result in a massive shift in the habits of players," says Eghdami. "Players that are used to going to the physical house, or the horse track, may now shift their habits to online. The older generation now may be signing up on online platforms and realize they can do this a lot easier. We're getting new users on the platform every day, and players starting to turn to virtual sports as well."

FansUnite is the brainchild of three entrepreneurs who have each already carved out more than a decade of in-the-trenches experience in the industry. Two of them including founder Eghdami and his former associate at KMPG, Graeme Moore, are chartered accountants, while co-founder Duncan McIntyre is a practicing lawyer schooled in mergers, acquisitions and corporate development. The teams' first success was the development of the FansUnite B2C social platform, which they eventually sold to a public company in 2016. FansUnite Social uses a free virtual currency for members to simulate the real thing while following and learning from their online heroes. The endgame, of course, is toward transferring the activity to the real-dollar platforms.

FansUnite Technology—B2C Social Platform

After the sale of the social peer platform, Eghdami and company decided to maintain the "FansUnite" brand equity in their new venture, launched in 2017. "We had the idea of getting into real-money sports gaming, spun it out of the pubic company, raised money in 2018 and started down this path. For the last year and a half we've been building our own technology to launch our sportsbook from a B2C perspective as well as prepare it for a full turn-key B2B solution. An option on the B2B platform will be a "smart contract sports book" whereby the funds are held "in-trust" and not accessible to FansUnite or end users until the event is completed and funds are directly sent to the winning party. The FansUnite platform is expected to accept cryptocurrency and regular fiat currency on its sportsbooks.

As part of FansUnite's roll-up strategy of entering into other world markets, acquiring yet maintaining well-established brands is the key to building its global B2B customers and B2C end users. The company is well funded with access to capital. Much of its support comes from industry leaders on the board like Shafin Diamond, CEO of Victory Square since 2015, a venture builder that builds start-ups in web, mobile, gaming, AI and AR/VR. Diamond has launched 40 start-ups in 24 countries, employed more than 350 people, and has generated over $100 million in annual revenues. He has received numerous awards, including the BC Tech Person of the Year Award, BC Angel Investor of the Year in 2014, and Business in Vancouver's Top 40 under 40.

FansUnite recently completed a financing of $3.1 million at $0.35 (free trading upon listing) and used $500,000 cash for the McBookie transaction before launching its IPO on the CSE. Total consideration for the McBookie deal was for approximately CAD$2.2 million, composed of the $500,000 cash up front, and $500,000 cash to be paid within 12 months, the rest in stock, at $0.35 a share, vesting and unrestricting over a course of 36 months.

Currently, management and insiders hold about 20% of the 70 million shares outstanding, and there are 3.5 million options and 1.4 million warrants with a weighted average price of $0.48 and $0.17 respectively, so no scary skeletons in the closet. Eghdami says the company is now sitting on about a $2 million war chest and burning about $175,000 per month. Should investor speculation lift its share price (as predicted here), it should be able to execute is M&A activity with a much stronger currency.

With $1 trillion waged annually, according to UK-based Football Report, the global market for this kind of technology is insane. Apparently, due to "COVID self-containment," it's "trending" even more as digital consumers are quarantined in their homes with nothing better to do but play on their computers.

As we hopefully ease out of this economic situation, FansUnite will have to execute fast and furiously. Now launching on the CSE at C$0.35 with a current market capitalization of $25 million, it has a long way to go, and much to prove, toward reaching the billion-dollar heights of its gaming peers, but the pie is big and the appetite is certainly there.

This is one race worth watching.

Knox Henderson is a journalist and capital markets communications consultant. He has advised for a broad range of small cap companies in the resource, life sciences and technology sectors for more than 25 years.

Disclosure:
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( Companies Mentioned: FANS:CSE, )