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Should More Pensions Adopt Tampa Police and Fire’s Pure Stock-Picking Approach? MPI Analysis Finds its Results Could Easily be Replicated through a More Diversified Approach Instead

Markov Processes Inc.

Markov Processes International, Inc. (“MPI”), a leading provider of investment technology, analytics, research and indices for the global investment management industry, today released significant institutional research analyzing the $3.2 billion City of Tampa Fire and Police Pension Fund that shows that the fund, long known for returns through a stock-picking approach uncommon in pensions and endowments, actually is a validation of the less risky principles of broader diversification and index investing. Tampa Fire and Police has been an outlier among pensions and endowments, using a single manager in Bowen, Hanes & Co., and employing an investment approach that relies heavily on selecting single stocks. Traditionally, pensions and endowments take a more diversified approach, and their investments follow Modern Portfolio Theory, which stresses the importance of diversification in managing risk. MPI’s study represents the first rigorous, data-driven examination of Bowen’s performance, offering quantitative clarity after decades of unchallenged praise and lingering doubts about its authenticity. MPI’s proprietary analysis, calculated using MPI’s Stylus Pro software, performed a returns-based analysis of performance of Tampa Fire and Police – which has notably outperformed or matched its benchmarks in nine of the last 10 years – and found that it could be replicated with a more diversified approach. Indeed, MPI’s Stylus Pro created a long-only portfolio of market indices which credibly (and predictively) mimics the fund’s return. “While the eye-popping stock-picking has made the managers at Bowen seem like modern-day Warren Buffetts, the truth is much more mundane and instructive for other institutional money managers,” said Michael Markov, Founder and Chief Executive Officer of MPI. “We know that once a portfolio reaches a certain size, individual stock picks blend into thematic exposures, like the "Magnificent Seven" tech stocks. Active managers spending their days on bottom-up research might rather want to concentrate on whether similar results could be obtained in less risky ways, such as through a basket of ETFs.” The analysis did show that Bowen’s approach did present moderately higher risk than other pensions and endowments, but it was only moderately higher than other equity-heavy public pensions. And, in terms of efficiency, the fund’s Sharpe ratio was better than its benchmark. Still, the findings of MPI’s analysis indicate that managers who base their diversified strategies on the Nobel-prize winning Modern Portfolio Theory have the potential to achieve similar returns, without having to hustle to pick the right stocks. “Diversification works,” Markov said. “Whether or not one believes in volatility or correlation matrices, our analysis validates what Modern Portfolio Theory suggested. There’s little true alpha left in managing a $3 billion liquid portfolio through stock-picking alone.” The full report can be found here. For additional information on MPI’s research or to get a demo of its Stylus Pro software, please contact MPI at +1 (908) 608-1558 or info@markovprocesses.com. About MPI Markov Processes International Inc. (MPI) is a leading provider of solutions for investment research, analysis and reporting to the global wealth and investment management industry. MPI works with more than 200 client organizations, including pensions and endowments, sovereign wealth funds, global wealth management firms, institutional consultants, regulators, investment advisors and asset managers. Rooted in the principles of transparency, objectivity, and efficiency, MPI takes an innovative approach to problem solving in the areas of fund analysis, risk management, asset allocation, and reporting to ensure that its clients have the tools to succeed in ever-more-crowded markets. Follow us on Twitter @MarkovMPI and connect with us on LinkedIn. Contact Details For MPI Ray Hennessey, Vocatus rh@vocatusllc.com Company Website https://www.markovprocesses.com/

July 01, 2025 09:00 AM Eastern Daylight Time

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More than 5,700 Hispanics Killed by Guns in the United States in 2023, VPC Study Reveals

Violence Policy Center

More than 5,700 Hispanics died by gunfire in the United States in 2023 according to the latest edition of Hispanic Victims of Lethal Firearms Violence in the United States, an annual study from the Violence Policy Center (VPC), a national educational organization working to stop gun death and injury. That year (the most recent for which national data is available) guns claimed 5,747 Hispanic lives. Of these, 3,284 (57 percent) were gun homicides. An additional 2,198 Hispanic lives were lost in gun suicides that year. Over the 22-year period from 2002 to 2023, more than 83,000 Hispanics were killed with guns in the United States: 51,780 in gun homicides; 27,160 in gun suicides; 1,220 from unintentional gun deaths; and 2,847 from other firearm deaths. The study also details how America’s firearms industry and gun lobby, as the result of the saturation of the traditional white male market for guns in the U.S., have targeted Hispanics as a new untapped market for gun sales and hoped-for political power. The VPC study is available in both English and Spanish and utilizes data from the federal Centers for Disease Control and Prevention (CDC) as well as the Federal Bureau of Investigation (FBI). VPC Executive Director Josh Sugarmann states, “Hispanic men, women, boys, and girls are increasingly the victims of lethal gun violence in the U.S. Recognizing the vast gaps in data-gathering regarding Hispanic ethnicity in our nation, the actual numbers are certainly higher. At the same time, the gun industry is openly targeting Hispanics as an untapped market, which can only increase gun death and injury in this community.” Key findings of the study include: In 2023, more than 5,700 Hispanics were killed by guns. That year, 3,284 Hispanics died in gun homicides, 2,198 died in gun suicides, 63 died in unintentional shootings, and 202 died in other circumstances (including legal intervention and undetermined intent) More than 83,000 Hispanics were killed by guns between 2002 and 2023. During this period, 51,780 Hispanics died in gun homicides, 27,160 died in gun suicides, and 1,220 died in unintentional shootings. Most Hispanic murder victims are killed with guns. In 2023, 77 percent of Hispanic homicide victims were killed with firearms. The percentage of Hispanic homicide victims killed with a firearm steadily increased during this period, from 69 percent in 2002 to 77 percent in 2023. The latest data show that for homicides where the victim was Hispanic and a gun was used, 53 percent of these shootings involved a handgun Of the 2,198 Hispanic firearm suicide victims in 2023, 1,949 (89 percent) were male and 249 (11 percent) were female From 2002 to 2023, the female Hispanic firearm suicide rate doubled (from 0.4 per 100,000 to 0.8 per 100,000) In 2015, the firearms industry and gun lobby launched a coordinated campaign targeting Hispanics and other communities of color in the U.S. to increase gun sales and hopefully increase the political power of the pro-gun movement. As a result of the limitations in current data collection, the total number of Hispanic victims is almost certainly higher than the reported numbers suggest. Government agencies often report data on race but not on ethnic origin. Recognizing the changing demographic landscape in the United States, it is clear that fully documenting such victimization is a crucial step in preventing it Recommendations of the study include: Governmental agencies that collect data on death and injury should obtain complete information on the ethnic origin of individuals in addition to their race. This will ensure complete and accurate data collection on Hispanic victims of lethal violence. Additional efforts should be undertaken to support current violence reduction programs and activities, as well as identify new violence reduction strategies, improve access to resources for victims and survivors of domestic violence, and identify anti-trafficking measures to help interrupt the flow of illegal firearms to impacted communities. At the same time, relevant organizations and advocates should be made aware of the firearms industry’s marketing efforts targeting the Hispanic community. The age-adjusted Hispanic homicide and suicide rates published in the report were calculated by the CDC. The rates are calculated by dividing the number of relevant deaths in an age group by the population of that age group and multiplying the result by 100,000. This result is then weighted according to the U.S. Hispanic population. This study does not include Puerto Rico or other U.S. territories. The complete report in English can be found at http://vpc.org/studies/hispanic25.pdf. The complete report in Spanish can be found at http://vpc.org/studies/hispanicesp25.pdf. Prior editions of the report in both English and Spanish, as well as VPC research focusing on lethal Hispanic victimization in California, can be found at www.vpc.org/hispanic.htm. For more information on how the firearms industry, looking to expand beyond its shrinking base of white male gun owners, has launched an organized marketing campaign focusing on Hispanic and Black Americans, please see the January 2021 Violence Policy Center study How the Firearms Industry and NRA Market Guns to Communities of Color. The Violence Policy Center is a national educational organization working to stop gun death and injury. Follow the VPC on X/Twitter, Facebook, Instagram, and BlueSky. Contact Details Georgia Seltzer Violence Policy Center +1 202-987-9077 gseltzer@vpc.org Company Website https://vpc.org/

July 01, 2025 08:00 AM Eastern Daylight Time

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Esteemed Public Relations Professional Cindy Schutt Announces Retirement After a Storied Career

Van Horn Law Group, P.A.

After a distinguished career spanning nearly four decades in public relations, Cindy Schutt is retiring, leaving behind a legacy of impactful storytelling, strategic communications, and dedicated community leadership. For nearly a decade, Schutt has been the driving force behind the public relations and media strategy for Van Horn Law Group, P.A., in addition to her nonprofit work for Big Brothers Big Sisters of Broward County and Lighthouse of Broward. During her tenure as public relations consultant for Van Horn Law Group, her expertise has been instrumental in elevating the profile of both Van Horn Law Group and its founder, Chad Van Horn. Her unwavering support and mentorship have been foundational to the firm’s growth, public visibility, and national recognition. “None of this happens without Cindy,” said Van Horn. “She has been more than a PR consultant – she’s been a trusted advisor, a mentor, and the architect of our firm’s public voice. Every story told about me, every award, even my appearance as Player 286 on Squid Game: The Challenge – Cindy played a role. She believed in me before the rest of the world noticed.” Cindy said it was easy to believe in Chad. "Chad is one of the most innovative people I’ve ever met,” she said. “Not only does his mind bubble with ideas, but he goes out on a limb to put them into action. Squid Game is a perfect example, as well as his run for Fort Lauderdale City Commission and his upcoming appointment as adjunct professor at University of Florida’s Levin College of Law. He does all this with heart, commitment and dedication, which is exactly how he serves his clients. It has been an honor to work with Chad and Van Horn Law Group.” Van Horn noted that Schutt’s strategic guidance helped secure him numerous professional honors and awards, while also shaping the Van Horn Law Group’s brand as a compassionate and effective legal resource. Her behind-the-scenes work not only built media relationships but also helped position Chad as a national legal thought leader and advocate for consumer debt relief. Throughout her career, Schutt has made an indelible mark in both the corporate and nonprofit sectors, generating hundreds of news stories in top-tier media outlets and establishing herself as a go-to resource for journalists. Cindy, who owned and operated her own firm for the last 20+ years, started in the public relations industry at Bitner Laurenti & Pierson, under the tutelage of Gary Bitner, Lynn Laurenti and Maria Pierson. Both Bitner and Pierson continue to run successful South Florida public relations firms. A proud University of Florida Gator with a bachelor’s degree in journalism, Cindy has long been a pillar of the South Florida civic community. Her extensive service with the Leadership Broward Foundation, including a term as Board Chair, exemplifies her passion for community development, mentorship, and public service. As she begins her well-deserved retirement, Cindy’s presence will be deeply missed by colleagues, clients, and journalists who have relied on her insight and professionalism. “Cindy’s legacy isn’t just written in headlines – it’s felt in the lives she’s touched,” said Van Horn. “She made us better communicators, better professionals, and better people. Working with her has been one of the great privileges of my career.” Van Horn Law Group provides compassionate and affordable legal services in personal and corporate bankruptcy, student loan litigation, foreclosure defense, and debt negotiations. Ranked among the top bankruptcy firms in the country by number of cases filed, Van Horn Law Group is led by founding partner Chad Van Horn, a recognized authority on bankruptcy and the author of Everything You Need to Know About Bankruptcy and The Debt Life. Attorney Van Horn is certified in both consumer and business bankruptcy. The firm has achieved significant recent success in securing student loan discharges for clients under evolving federal guidelines. Contact Details Van Horn Law Group, P.A. Chad Van Horn +1 954-495-9960 Chad@CVHLawGroup.com Company Website https://www.vanhornlawgroup.com/

July 01, 2025 07:00 AM Eastern Daylight Time

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Rising Concerns Over Systemic Risks in the US Leveraged Loan Market

AM Europe

A new study from the University of Bath has issued a stark warning: systemic risks in the US leveraged loan market are growing, potentially setting the stage for another financial crisis. This concern is amplified by several factors, including an increase in underpriced loans, the prominent role of less-regulated non-bank lenders, and deteriorating loan standards. Leveraged loans are typically extended to companies with significant existing debt or less robust credit histories, making them inherently riskier. While lenders are compensated with higher interest rates for this elevated risk, recent trends suggest a dangerous imbalance. The University of Bath study, published on June 25, 2025, highlights that highly leveraged loans are increasingly being underpriced, particularly by non-bank lenders who operate with less regulatory oversight than traditional banks. Default rates on US leveraged loans have already surged, reaching a four-year high of 7.2% in December 2024, according to the Financial Times. Many borrowers are resorting to "distressed exchanges" to avoid outright bankruptcy, a move that reduces investor recoveries and underscores the fragility of the market. Key contributing factors to the escalating risks include: Weakening Pricing of Leverage Risk: The study points out a dramatic weakening in how leverage risk is priced since 2014, with the risk premium declining most for the riskiest borrowers. This distortion reflects fundamental structural weaknesses in the post-2014 leveraged lending landscape. Rise of Non-Bank Lenders: The shift towards non-bank originators for credit has been a significant development. These "shadow lenders" are not subject to the same stringent regulations as traditional banks, leading to concerns about unchecked risk-taking and a lack of transparency. While some states have commercial lending licensing requirements for non-bank lenders, a comprehensive federal framework is absent. Surge in Securitization (CLOs): The rapid growth in Collateralized Loan Obligation (CLO) issuance plays a crucial role. CLOs package these leveraged loans into securities, which are then sold to investors. While this transfers risk away from the original lenders, it also creates complex, opaque structures where the ultimate investors may lack clear information about the underlying assets. Approximately 70% of the US leveraged loan market is now accounted for by CLOs. Declining Loan Standards ("Covenant-Lite" Loans): A widespread adoption of "covenant-lite" loans further exacerbates the risk. These loans come with fewer protective clauses for lenders, giving borrowers more flexibility even when their financial health deteriorates. This erosion of loan standards can make it harder for lenders to intervene and mitigate losses in the event of distress. Regulators have begun to express heightened concern over the rapid growth and increasing interconnections within the private credit market, which largely comprises non-bank lenders and their leveraged loan activities. The sheer size of this market means that any significant disruption could pose a systemic threat to financial stability. While some past assessments, such as a 2020 GAO report, suggested that leveraged lending did not significantly threaten stability during the COVID-19 pandemic, the current environment with increased underpricing and diminished oversight presents a renewed challenge. The confluence of underpriced risk, unregulated shadow banking, and relaxed lending standards paints a concerning picture for the US leveraged loan market. The Parallel World of Personal Loans for Bad Credit While the leveraged loan market deals with corporate debt, a distinct but equally dynamic segment exists for individual consumers with less-than-perfect credit scores: personal loans for bad credit. This market has seen consistent growth, often driven by demand for debt consolidation. As of Q1 2025, nearly half of all personal loan borrowers utilize these funds to consolidate or refinance existing debt, particularly high-interest credit card balances. However, access to these loans comes at a significant cost; while average personal loan rates in June 2025 hover around 12.65%, borrowers with low credit scores face considerably higher Annual Percentage Rates (APRs), often reaching into the triple digits for very low scores. This segment is heavily serviced by online lenders and fintech companies, many of whom employ alternative data and underwriting models to assess risk beyond traditional credit scores, sometimes even offering "no credit check" loans. While these options provide crucial access to credit for those otherwise excluded, they often carry short repayment terms and exceptionally high fees, raising concerns about potential debt traps. Contact Details Josh J. Bradley +1 515-323-4161

July 01, 2025 04:21 AM Eastern Daylight Time

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Peru: The Rhythm of the Heart — Cultural Event Featuring Inti Raymi and Fiesta de San Juan Held at Peru Pavilion

Promperu

On Tuesday, June 24, 2025, the Peru Pavilion at Expo 2025 Osaka-Kansai held a special cultural event celebrating two of Peru’s most iconic traditional festivals —Inti Raymi (Festival of the Sun) and the Fiesta de San Juan. The event featured live performances and screenings both outside and inside the Pavilion, allowing many guests and members of the press to experience the cultural diversity and richness of Peru. Opening the event, Fernando Albareda, Deputy Commissioner General of Peru, delivered a welcome address, “Inti Raymi is an Andean festival that celebrates the sun god and the harvest season, while Fiesta de San Juan is a joyful celebration of life held across the Amazon region. Both festivals take place on June 24 and are important cultural expressions of Peru. We are honored to share these vibrant traditions with visitors in Japan today.” The program began with a lively drum and zampoña performance, followed by the grand appearance of the Inca and La Coya (Queen). Traditional dances were performed, including the Valicha from the Andes and the Shipibo Dance from the Amazon. Each dance expressed the unique heritage, identity, and pride of its respective region, receiving enthusiastic applause from the audience. Inside the Pavilion, accredited media and invited guests were treated to a guided tour and cocktail reception featuring a screening of videos introducing the festivals, a retablo-inspired photo booth, and a performance of the Lamas Carnival Dance. A tasting menu highlighted iconic dishes such as Juane, a signature dish of the Amazon, as well as Peruvian cocktails and finger foods inspired by the Andes and Amazon regions. In addition, in Peru's Virtual Pavilion (Metaverse), a recreation of the Inti Raymi has been made where the Inca and La Coya (Queen) can be seen in the Peru-Japan link zone. Anyone from around the world can connect and view it, as well as access audiovisual content about the Inti Raymi and the Fiesta de San Juan, with descriptions about their history and influence. To download the application, they can enter here. Cusco, the place where Inti Raymi is held, also boasts many natural and architectural wonders such as Sacsayhuaman, Ollantaytambo, the Sacred Valley, Machu Picchu, the Qhapaq Ñan, Maras Salt Mines, Moray, and the Rainbow Mountains of Palccoyo, among others. Against this backdrop, the Pavilion’s performance served not only as a celebration of Peru’s cultural diversity but also as a strategic moment of cultural diplomacy to promote its heritage and tourism potential. The Peru Pavilion will continue to offer events that highlight the country’s cultural, culinary, and regional diversity throughout the duration of the Expo. Peru Export and Tourism Promotion Board (PROMPERÚ). We are the government agency in charge of the development and implementation of global strategies to position Peru via the promotion of its image, touristic destinations, added value exports and investments. Contact Details José Carlos Collazos jcollazos@promperu.gob.pe Company Website http://www.promperu.gob.pe

June 30, 2025 01:00 PM Eastern Daylight Time

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Avenue Z Wins AI Breakthrough Award for AI Search Optimization Solution for Brands

Avenue Z

Avenue Z, a tech-driven marketing and communications agency leading AI Optimization, today announced it has been named “Cognitive Communications Solution of the Year” by the AI Breakthrough Awards, honoring its first-to-market AI Optimization (AIO) Solution. The prestigious award - selected from more than 5,000 global nominations - recognizes Avenue Z’s AIO Solution, and its ability to place brands at the top of AI Search. With this award, Avenue Z joins a powerhouse cohort of 2025 winners including NVIDIA, Microsoft, Meta, HPE, EY, Databricks, Honeywell, Arcade, Juniper Networks, and other global innovators. “We launched AIO to solve one of the most important shifts in the history of digital communications: the move from keywords to questions, from links to answers,” said Jeffrey Herzog, Founder and CEO of Avenue Z. “Influence today is more powerful when it’s invisible—architected with strategy, technology, and precision to ensure brands speak the language of generative AI and show up as trusted authorities in the conversations that drive modern decision-making. It’s simple - consumers have shifted to AI search, and we’re helping brands get there.” AIO is the first solution purpose-built for generative search - not a bolt-on to legacy SEO. As platforms like ChatGPT, Gemini, and Perplexity shift from listing links to delivering synthesized answers, AI-powered search is surging. By 2027, over 90 million American adults are expected to use generative AI as their primary search tool, with Gen Z and Millennials leading in AI trust. While AI is reportedly set to complement - not fully replace - traditional search, it’s already driving a sharp decline in organic traffic, forcing publishers and marketers to rethink how visibility is earned. Avenue Z’s AI Optimization (AIO) solution solves this challenge for brands with a three-pronged approach: High-authority media placement to establish brand trust in sources large language models (LLMs) cite; Conversational content creation aligned with AI-first query formats and voice; Technical LLM optimization using semantic schema, metadata, and structure designed for machine interpretation. What makes this AI Optimization Solution unique is its cognitive model - a communications framework that ensures clients are not just searchable, but selected, when AI platforms synthesize responses for consumers. “This is not SEO retrofitted for AI,” added Johnny Hughes, Chief Marketing Officer and AI Council Chair at Avenue Z. “This is a new language for influence, blending technical precision with strategic storytelling so our clients own the questions that matter most.” Led by Herzog, who previously revolutionized SEO through iCrossing, Avenue Z is building the new blueprint for how brands succeed in the AI era. “We’re proud to be doing for AI what we once did for Google search: building the map before the rest of the industry knows they need it,” said Herzog. “With AIO, we’re not gaming algorithms, we’re guiding conversations and content at the intersection of influence and machine logic.” The AI Breakthrough Awards, produced by Tech Breakthrough, recognize the world’s most innovative companies, products, and technologies in artificial intelligence. This year’s program included standout entries from startups and tech titans alike, across categories such as machine learning, NLP, computer vision, and cognitive computing. “This award is more than recognition - it’s validation that our commitment to strategic communication in the AI era is working,” said Whitney Hart, Chief Strategy Officer at Avenue Z. “AIO empowers brands to shape narrative and trust in a world where machines mediate influence. We’re proud to lead that transformation.” As part of its broader commitment to market leadership, Avenue Z also recently launched its AI Visibility Index Reports, which help brands assess and improve their presence in generative AI platforms. The reports are publicly available at: https://avenuez.com/ai-visibility-index/ With this award, Avenue Z continues to lead the evolution of strategic communications, helping companies not only keep up with change, but shape it. For more information, visit AvenueZ.com or their media outlet, DrivingInfluence.com. About Avenue Z Avenue Z is a tech-driven marketing and communications agency leading AI optimization, driving influence across all channels - from ChatGPT to The Wall Street Journal to TikTok. With 30 years of leadership in search and digital marketing, we apply strategic communications, high-impact PR, performance media, and AI optimization to help companies build reputation and grow revenue through our proprietary, technology-driven approach. We are the agency for influence. AvenueZ.com About AI Breakthrough Part of Tech Breakthrough, a leading market intelligence and recognition platform, the AI Breakthrough Awards honor the industry’s most innovative companies, technologies, and products in the field of artificial intelligence. The program draws entries from companies and research labs across the globe, showcasing AI's most impactful breakthroughs each year. Contact Details Avenue Z +1 407-637-2833 press@avenuez.com Company Website https://avenuez.com/

June 30, 2025 08:04 AM Eastern Daylight Time

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Four Rising Stars Driving the Next Wave of Stem Cell and Gene Therapy Innovation

ADIA LCTX MESO CRSP

The global stem cell market is estimated at $15.10 billion in 2024 and is projected to nearly double to $28.89 billion by 2030, growing at a compound annual growth rate of 11.4 percent. This growth is driven by advances in regenerative medicine, increasing investments, and new therapies targeting serious diseases such as cancer, autoimmune disorders, and genetic conditions. Stem cells offer a unique ability to repair and regenerate damaged tissue, providing potential treatments that address the root causes of illnesses rather than just managing symptoms. Major factors fueling this expansion include greater government funding, breakthroughs in cell therapy technology, and growing acceptance of stem cell treatments within the medical community. Both large pharmaceutical companies and smaller biotech firms are contributing to the rapidly evolving landscape, pushing the boundaries of what’s possible with regenerative medicine. Now let’s take a look at some promising players in this segment. Adia Nutrition Inc. (OTCQB: ADIA) is quickly establishing itself as a rising player in the regenerative medicine space, operating at the intersection of cutting-edge stem cell science and accessible patient care. Through its two core divisions, Adia Labs and Adia Med, the company offers both premium nutritional supplements and advanced clinical therapies, including umbilical cord blood stem cells and autologous hematopoietic stem cell transplantation, also known as aHSCT. A major milestone came in June when Adia Nutrition launched its first nationwide television commercial for Adia Vita, marking a watershed moment in the company’s growth. The ad, created by its subsidiary Adia Labs and powered by the MNTN connected TV platform, introduces Adia Vita’s groundbreaking formula to a national audience. With 100 million viable stem cells and 3 trillion exosomes per dose, Adia Vita sets a new standard in the $15.1 billion global stem cell market. In an industry where inconsistent quality is common, this product is designed to deliver reliable potency and open new possibilities for patients and physicians. The commercial encourages viewers to speak with their doctors about Adia Vita, underscoring the legal ability of licensed physicians to use FDA-registered biologic products off-label when they believe it is in the best interest of the patient. The company’s progress throughout 2025 reflects strong execution on multiple fronts. In just six weeks, Adia completed its uplisting from the OTC Pink Sheets to the OTCQB Venture Market, far ahead of the usual 12- to 16-week timeline. This achievement followed an independent audit, full compliance with SEC Rule 15c2-11, and the cancellation of 25 million undocumented shares. These steps, along with the removal of Adia’s shell risk designation and the formation of Adia Labs LLC, have significantly boosted investor confidence and expanded opportunities for market participation. At the heart of Adia’s therapeutic offering is Adia Vita, which received FDA registration in March, allowing for national distribution. This regulatory milestone affirms Adia Labs' role as a serious biomanufacturing partner. Licensed clinics in the United States, Colombia, and Mexico have already begun adopting the Adia Med brand under exclusive sourcing agreements. These partner clinics receive access to FDA-registered, cGMP-compliant products and in-depth training designed to uphold the highest quality standards. In addition to stem cell products, Adia is expanding its clinical pipeline to include advanced procedures like therapeutic plasma exchange. Already offered at the flagship Winter Park clinic, this treatment filters harmful substances from the bloodstream and has shown promise in conditions like Alzheimer’s disease, autoimmune disorders, and post-COVID complications. These therapies utilize the same advanced apheresis machines used in aHSCT, increasing both clinical efficiency and technical scalability. Accessibility remains a cornerstone of Adia’s model. While traditional regenerative therapies often cost between fifteen thousand and thirty-five thousand dollars, Adia is working to lower the barrier to entry through vertical integration and payment programs like the Cherry Payment Plans. These financing options help extend care to a wider population, aligning with Adia’s mission to democratize access to advanced treatments. Regulatory progress is also accelerating. The Winter Park location, which opened in January, has received full approval from Florida’s Agency for Health Care Administration. This approval allows the clinic to accept insurance, creating a pathway to tap into the four point nine trillion dollar US health insurance market. The development is especially important in Florida, where more than 4.5 million residents are over the age of sixty-five and increasingly in need of treatments for neurodegenerative and autoimmune conditions. Legislative support is adding momentum. Florida Senate Bill 1768, which takes effect July first, will expand legal access to regenerative therapies for orthopedic injuries, wound healing, and pain management. Adia is already working with partner clinics to bring these services online and plans to host open house events at the Winter Park location to engage the community and raise awareness about this policy shift. Between its national television debut, rapid uplisting, FDA product registration, expanding clinical network, and patient-friendly pricing strategies, Adia Nutrition is executing a bold multi-front strategy. For investors seeking early exposure to a small-cap innovator with strong regulatory tailwinds, real clinical adoption, and a clear roadmap for national expansion, ADIA presents a compelling opportunity. Mesoblast (Nasdaq: MESO) (ASX: MSB) is an emerging innovator in regenerative medicine, focused on developing off-the-shelf cellular therapies for serious inflammatory diseases. Its core platform is based on mesenchymal stromal cells, or MSCs, which respond to immune system overactivation by releasing anti-inflammatory factors. This approach is designed to reduce the underlying inflammation that drives many hard-to-treat conditions. The company’s lead product, Ryoncil, recently became the first and only FDA-approved MSC therapy in the United States. It is now available for children as young as two months who are suffering from steroid-refractory acute graft-versus-host disease, a severe and often deadly condition. Since its commercial launch in March, Mesoblast has quickly onboarded more than 20 transplant centers, exceeding expectations. Access to Ryoncil is expanding rapidly. The therapy is now covered for over 220 million insured lives across the United States. This includes fee-for-service Medicaid coverage in 37 states, with full national Medicaid coverage expected on July 1. Commercial payers have also added Ryoncil to formularies or made it available through prior authorization or medical exception. The result is broad access for nearly every eligible patient in the country. Ryoncil also benefits from strong regulatory protections. The FDA granted it seven years of orphan-drug exclusivity, which blocks approval of competing MSC therapies for the same indication through 2032. Biologic exclusivity runs through 2036, and key patents extend well into the 2040s. These layers of protection help lock in a strong competitive position as the company continues expanding. Mesoblast is not stopping with the pediatric market. A pivotal trial to support label expansion into adult graft-versus-host disease is being planned in partnership with the NIH-funded Bone Marrow Transplant Clinical Trials Network. This would significantly increase Ryoncil’s commercial potential. Meanwhile, the company is advancing Revascor, an investigational MSC therapy for ischemic heart failure with reduced ejection fraction. The program has received RMAT designation from the FDA and has completed two randomized controlled trials. A recent Type B meeting with the agency resulted in alignment on manufacturing and product release standards as well as the proposed design for a confirmatory trial. These steps move Mesoblast closer to filing for accelerated approval. Mesoblast is still early in its commercial journey, but the progress is meaningful. With one FDA-approved product, growing insurance coverage, late-stage pipeline assets, and a strong intellectual property moat, the company is positioning itself as a serious contender in the future of cell-based therapies. Lineage Cell Therapeutics (NYSE: LCTX) is carving out a differentiated lane in regenerative medicine with off-the-shelf, allogeneic cell therapies targeting major unmet needs in ophthalmology and neurology. The company uses pluripotent stem cells to manufacture specialized cells that can replace damaged tissue, and its strategy is beginning to show long-term durability. The lead program, OpRegen, is focused on geographic atrophy in dry age-related macular degeneration. Lineage is co-developing the therapy with Genentech through a global partnership that included a fifty million dollar upfront payment and the potential for over six hundred million in milestones. The ongoing GAlette Phase 2a trial is now enrolling patients, with Lineage providing clinical and manufacturing support. Recent three-year follow-up data from a prior Phase 1/2a trial showed that patients who received broad coverage from OpRegen experienced an average improvement of nine letters on the standard visual acuity test. These gains held steady across the full three years. In a disease that normally leads to irreversible decline, this type of durability is rare. Retinal imaging also showed structural improvements, adding further evidence of biological activity. OpRegen is designed to be a one-time treatment. That matters in a market where current options require frequent injections and have shown limited long-term benefit. If larger trials confirm the early results, Lineage and Genentech could be in a position to disrupt the standard of care. The company is also advancing OPC1, a therapy for spinal cord injuries using oligodendrocyte progenitor cells. The program already has RMAT and Orphan Drug designations. A new trial called DOSED is now underway to evaluate a next-generation delivery system in both subacute and chronic patients. Early coverage in the media has highlighted some promising signs of motor function recovery. Lineage reported $47.9 million in cash at the end of March 2025, giving the company a projected runway into the first quarter of 2027. First-quarter revenue came in at $1.5 million, driven by its Genentech collaboration. Net loss dropped to $4.1 million, down from $6.5 million in the same quarter last year. Pipeline development is expanding as well. Lineage is moving into auditory neuron regeneration, photoreceptor replacement, and a next-generation hypoimmune cell platform. The goal is to unlock more high-impact indications using the same core manufacturing expertise. For small-cap biotech investors looking for staying power, real data, and credible partners, Lineage is starting to look like a serious name. The company has cash in the bank, clinical traction, and a scalable model that could support meaningful growth in the years ahead. CRISPR Therapeutics (NASDAQ: CRSP) continues to solidify its role as a leader in gene editing, transitioning from a research-stage innovator to a commercial-stage biotech with global reach. CRSP made history with the approval of CASGEVY, the first CRISPR-based therapy for sickle cell disease and transfusion-dependent beta thalassemia, now launched across multiple countries, including the US, EU, UK, and UAE. More than 65 treatment centers have been activated worldwide, and over 90 patients have already had cells collected. Patient initiations are expected to accelerate in 2025, and Vertex, CRSP’s commercial partner, has secured national reimbursement agreements in key markets, including England, Austria, and the Middle East. While CASGEVY generates increasing momentum, CRSP is aggressively expanding into cardiovascular disease through its in vivo editing platform. CTX310, targeting ANGPTL3, has shown peak reductions of up to 82 percent in triglycerides and 86 percent in LDL in a Phase 1 trial, with a favorable safety profile across all cohorts. These results represent early validation of CRSP’s lipid nanoparticle delivery platform and highlight the potential for once-and-done gene editing to address atherosclerotic cardiovascular disease. Full Phase 1 data for CTX310 will be presented at a medical meeting later this year. CRSP is also advancing CTX320, targeting the LPA gene in patients with elevated lipoprotein(a), a genetically driven and currently untreatable risk factor for major adverse cardiovascular events. An updated data readout is expected in the first half of 2026. Preclinical progress continues on CTX340, aimed at treating refractory hypertension by editing angiotensinogen (AGT), and CTX450 for acute hepatic porphyria. In immuno-oncology and autoimmune disease, CRSP is developing next-generation allogeneic CAR T-cell therapies. CTX112, targeting CD19, and CTX131, targeting CD70, are both in clinical trials. CTX112 has already earned RMAT designation from the FDA for relapsed or refractory lymphoma and is being evaluated across both oncology and autoimmune indications, including lupus and systemic sclerosis. Updates on both programs are expected later this year. CRSP also holds a manufacturing facility in Massachusetts to support its cell therapy pipeline from clinical to commercial scale. Beyond gene editing, CRISPR is expanding its therapeutic toolkit through a new collaboration with Sirius Therapeutics. The partnership centers on SRSD107, a long-acting small interfering RNA therapy targeting coagulation Factor XI. Phase 1 data showed FXI activity reductions of more than 93 percent and sustained effects for up to six months after a single dose. A Phase 2 trial is launching in patients undergoing knee surgery to evaluate SRSD107’s anticoagulant potential with reduced bleeding risk. CRSP will lead commercialization in the US, while Sirius retains China rights. The agreement also includes two additional siRNA programs CRSP may license in the future. Financially, CRSP remains well-capitalized with $1.86 billion in cash and marketable securities as of March 31. Net loss for the quarter widened slightly to $136 million as the company scaled operations and collaboration expenses related to CASGEVY. However, its pipeline breadth, global partnerships, and differentiated platforms provide strong positioning for long-term upside as gene editing moves further into real-world medicine. Disclaimers: RazorPitch Inc. "RazorPitch" is not operated by a licensed broker, a dealer, or a registered investment adviser. This content is for informational purposes only and is not intended to be investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performances are not statements of historical fact and may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or impaired due to the speculative nature of the companies profiled. RazorPitch has been retained and compensated by ADIA Nutrition Inc. to assist in the production and distribution of this content related to ADIA. RazorPitch is responsible for the production and distribution of this content. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. This content is for informational purposes only; you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by RazorPitch or any third-party service provider to buy or sell any securities or other financial instruments. All content in this article is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. RazorPitch is not a fiduciary by virtue of any persons use of or access to this content. Contact Details RazorPitch Mark McKelvie +1 585-301-7700 mark@razorpitch.com

June 30, 2025 07:00 AM Eastern Daylight Time

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Direxion Closing Two ETFs

Direxion

June 27, 2025— Due to their inability to attract sufficient investment assets, the Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close two ETFs (each, a “Fund” and collectively, the “Funds”), based on the recommendation of the Funds’ adviser, Rafferty Asset Management, LLC. The Board concluded that liquidating and closing the Funds would be in the best interest of the Funds and their shareholders. The Funds closing are as follows: The Funds will cease trading on the NYSE Arca, Inc. (“NYSE”) and will be closed to purchase by investors as of the close of regular trading on the NYSE on July 24, 2025 (the “Closing Date”). The Funds will not accept purchase orders after the Closing Date. Shareholders may sell their holdings in a Fund prior to the Closing Date and customary brokerage charges may apply to these transactions. However, from July 24, 2025 through July 30, 2025 (the “Liquidation Date”) shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for a Fund’s shares during this time period. Between the Closing Date and the Liquidation Date, each Fund will be in the process of closing down and liquidating its portfolio. This process will result in a Fund increasing its cash holdings and, as a consequence, not tracking its underlying index, which is inconsistent with each Fund’s investment objective and strategy. On or about the Liquidation Date, each Fund will liquidate its assets and distribute cash pro rata to all shareholders who have not previously redeemed or sold their shares. These distributions are taxable events. In addition, these payments to shareholders may include accrued capital gains and dividends. As calculated on the Liquidation Date, each Fund’s net asset value will reflect the costs of closing the Fund. Once the distributions are complete, the Funds will terminate. About Direxion: Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion’s reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $40.7 billion in assets under management as of March 31, 2025. For more information, please visit www.direxion.com. There is no guarantee that the Funds will achieve their investment objectives. For more information on all Direxion Shares ETFs, go to www.direxion.com, or call us at 866.301.9214. An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a prospectus and summary prospectus call 866.476.7523 or visit our website at direxion.com. A Fund’s prospectus and summary prospectus should be read carefully before investing. Direxion Shares Risks - An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration that results from an ETF’s investments in a particular industry, sector or company, which can increase volatility. The leveraged and inverse ETF utilize derivatives, such as futures contracts and swaps which are subject to market risks that may cause their price to fluctuate over time. The leveraged and inverse ETFs do not attempt to, and should not be expected to, provide returns which are a multiple of the return of their respective index or underlying security for periods other than a single day. The leveraged and inverse ETFs may also subject to leverage, correlation, daily compounding, market volatility and risks specific to an industry, sector or company. The non-leveraged ETFs are subject to certain risks, including imperfect index correlation and market price variance, which may decrease performance. The non-leveraged ETFs may invest in a relatively small number of issuers and, as a result, be subject to greater risk of loss with respect to its portfolio securities. The non-leveraged ETFs may experience greater fluctuation in its net asset value as compared to other investments. The non-leveraged ETFs may be appropriate for investors with a long-term investment time horizon, who primarily seek capital growth, and who are able to tolerate periods of prolonged price declines. Please read each ETF’s prospectus for a more complete description of the investment risks. There is no guarantee that an ETF will achieve its investment objective. Distributor: ALPS Distributors, Inc. Contact Details Ditto Public Relations Danielle Black, AD direxion@dittopr.co Company Website https://www.direxion.com/

June 27, 2025 04:41 PM Eastern Daylight Time

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COMCAST’S XFINITY MAKES IT EASY TO GET THE NATION’S BEST WIFI WITH NEW NATIONAL INTERNET PLANS WITH EVERYTHING INCLUDED

Comcast California

New everyday price plans launch nationwide – now all Xfinity Internet packages have simple, predictable pricing 1-year and 5-year price guarantee available with no contracts All plans include Unlimited Data and the Xfinity WiFi Gateway with the ultimate WiFi controls and cybersecurity protection Free Xfinity Mobile line with unlimited included for one year – no fees or taxes Following the successful launch and positive consumer reaction to Xfinity’s new 5-year guarantee, the nation’s largest Internet Service Provider (ISP) has launched its everyday pricing (EDP) structure with four simple national Internet tiers that include unlimited data and the advanced Xfinity WiFi Gateway for one low monthly price. This move is part of the company’s broader strategy to give consumers simple, predictable, all-in Xfinity plans for the best WiFi in the market. In addition, all plans include a line of Xfinity Mobile at no additional cost for a year. “We said we were going to go ‘all-in’ on a new pricing strategy and we are delivering with our 5-year price lock and our new everyday price plans. Now all our Xfinity Internet packages are built on simplicity and transparency – no hidden fees, no confusion – just the best, most reliable and secure WiFi that sets a new standard for the ultimate connected experience,” said Steve Croney, Chief Operating Officer, Connectivity & Platforms, Comcast. “We’re coming out swinging with a superior WiFi product that easily beats the competition at an even better price point for customers.” Xfinity delivers the fastest, most reliable* WiFi experience with multi-gig speeds, a low-lag connection for gaming and streaming, the capacity to connect hundreds of devices in the home, and unbeatable wall-to-wall WiFi coverage. The Xfinity WiFi Gateway blankets the home with cybersecurity protection and provides other advanced WiFi features and parental controls all easily accessible in the newly redesigned Xfinity app, allowing customers to optimize and manage their WiFi experience in the home. An unlimited line of Xfinity Mobile is also included at no cost for a year with these plans. Only Xfinity Mobile customers have access to WiFi PowerBoost, a game-changing feature which increases Xfinity Mobile speeds up to 1 gig – no matter the plan they choose – when they are connected over WiFi in the home or anywhere else on the Xfinity WiFi network, the largest and fastest in the nation. With 90 percent of mobile traffic traveling over WiFi, Xfinity Mobile is created for how customers use their mobile devices, combining the nation’s best WiFi with the most reliable 5G network. Consumers can sign up for Xfinity Internet and Xfinity Mobile online at www.xfinity.com or at their local Xfinity store. * OpenSignal: https://www.opensignal.com/2025/05/20/usa-fixed-broadband-experience-may-2025/dt#:~:text=Xfinity%20has%20increased%20its%20tally,Mobile%20outright%20this%20time%20around. About Comcast Corporation Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information. Contact Details Comcast California Adriana Arvizo +1 925-200-1919 Adriana_Arvizo@comcast.com Company Website https://california.comcast.com/

June 27, 2025 10:43 AM Pacific Daylight Time

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