News Hub | News Direct

Real Estate

Commercial Home Building Property Management REIT Real Estate Residential
Article thumbnail News Release

American Equipment Holdings Expands Presence in Eastern United States Through Acquisition of Patriot Crane & Hoist

Rotunda Capital Partners LLC

American Equipment Holdings (“American Equipment”), a Rotunda Capital Partners portfolio company, has acquired Patriot Crane & Hoist (“Patriot Crane”), a leading provider of overhead crane maintenance, repair and overhaul (MRO) field services headquartered in Suwanee, Georgia, with operations throughout the Southeastern U.S. The acquisition of Patriot Crane marks the 11 th acquisition completed by American Equipment since partnering with Rotunda in May 2021. For nearly 20 years, Patriot Crane has been a leader in providing comprehensive overhead crane and hoist field service solutions in the most demanding customer environments, including repairs, inspection, and replacement parts, to customers across a diverse range of end markets throughout the Southeastern U.S. During this time, the team at Patriot Crane has distinguished itself with highly skilled overhead crane technicians and a proven customer-first mentality. Combined with American Equipment’s industry leading engineering and fabrication capabilities, technical expertise and best-in-class resources, this partnership enhances the value proposition for both existing and new customers from coast to coast. Patriot Crane will continue to be managed by Gregg Salyer and operate as a division of American Equipment. “The addition of Patriot Crane and their extensive east coast operations is a great win for customers,” said American Equipment CEO Adam Zimmerman. “Our goal at American Equipment has always been to provide a high-quality, one-stop-shop solution from coast to coast, and our partnership with the exceptional team at Patriot Crane is an integral step in delivering that benefit.” “I am thrilled about what this partnership means for Patriot Crane, both for our customers and our employees,” said Gregg Salyer, owner of Patriot Crane. “I believe in the vision that American Equipment has for this industry. The talent and resources supporting this organization create a value proposition like no other in our industry, which will greatly enhance the customer experience and provide meaningful career opportunities for our employees.” About American Equipment Holdings American Equipment Holdings is an organization of leading overhead crane and hoist distributors and field service providers, including American Equipment, Allied Crane, Eastern Crane & Hoist, Facilities Engineering, Kistler Crane & Hoist, Pacific Crane & Hoist, and Washington Crane & Hoist. The consolidated entity is one of the largest independently owned overhead crane and hoist solutions providers in the country, serving over 4,000 customers nationwide. Together, American Equipment Holdings companies provide comprehensive solutions for everything related to customers’ overhead crane and hoist needs, including OSHA mandated inspections, preventative maintenance and repair field services, parts, engineering, ISO certified fabrication, new and replacement equipment, automated systems, system modernizations and training. American Equipment Holdings represents the industry’s leading manufacturers such as Detroit Hoist, Columbus McKinnon, ACCO, R&M, Demag, Gorbel, Spanco, IMS, Harrington, Conductix, Magnetek & PE, among others, and customers rely on its service, design, engineering, fabrication, and installation capabilities to meet their unique application needs. American Equipment Holdings serves local, regional and national customers across a variety of end markets, including light & heavy industrial, automotive, mining, public utilities, military, aerospace & defense and energy, among others. For more information, visit www.amquipinc.com. American Equipment is aggressively seeking to acquire other overhead crane and material handling equipment, parts and service solution providers and is interested in acquisition opportunities presented by business owners, management, or M&A intermediaries. Please contact Ryan Aprill, Principal at Rotunda Capital Partners, regarding acquisition opportunities. About Rotunda Capital Partners Rotunda Capital Partners is an operationally oriented private equity firm focused on transforming family-founder owned companies into dynamic, data-driven platforms able to achieve and manage significant growth. Since its founding in 2009, Rotunda has partnered with management teams to build great businesses within three primary sectors: value-added distribution, asset-light logistics and industrial & business services. Rotunda strives to achieve replicable results by implementing its Rotunda Performance System to create strategic alignment, develop lean processes and create robust, data-driven infrastructures. For more information, visit www.rotundacapital.com. Contact Details Rotunda Capital Partners Jill Lafferty +1 847-280-1295 jill@rotundacapital.com Company Website https://www.rotundacapital.com

August 16, 2022 07:47 AM Eastern Daylight Time

Article thumbnail News Release

CORRECTING and REPLACING Generation Income Properties Announces Second Quarter 2022 Financial and Operating Results

Generation Income Properties

Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIPR" or the "Company") today announced its financial and operating results for the period ended June 30, 2022. Highlights (For the 3 months ended June 30, 2022) Generated net loss attributable to GIPR of $1.05 million, or ($0.46) per basic and diluted share. Generated Core FFO of ($206) thousand, or ($0.09) per basic and diluted share. Generated Core AFFO of $36 thousand, or $0.02 per basic and diluted share. Commenting on the quarter, CEO David Sobelman stated, “This quarter has demonstrated our ability to exercise patience and discipline in this changing market environment, while strengthening our balance sheet and stabilizing our capital structure to allow us the platform to focus on acquiring assets accretive to our growth through the latter half of the year. We are hyper-focused on identifying new opportunities consistent with our current portfolio of tenants that we believe continues to prove its resiliency during economic headwinds.” Core FFO and Core AFFO are supplemental non-GAAP financial measures used in the real estate industry to measure and compare the operating performance of real estate companies. A complete reconciliation containing adjustments from GAAP net income to Core FFO and Core AFFO are included at the end of this release. Portfolio (as of June 30, 2022, unless otherwise stated) Approximately 85% of our portfolio’s annualized base rent ("ABR") as of June 30, 2022 was derived from tenants that have (or whose parent company has) an investment grade credit rating from a recognized credit rating agency of “BBB-” or better. Our largest tenants are the General Service Administration (Navy & FBI), PRA Holdings, Inc., Pratt and Whitney, and Kohl’s, all who have an ‘BB+’ credit rating or better from S&P Global Ratings and contributed approximately 66% of our portfolio’s annualized base rent. The Company’s portfolio is 100% rent paying and has been since our inception. Approximately 92% of our portfolio’s annualized base rent in our current portfolio provide for increases in contractual base rent during future years of the current term or during the lease extension periods. The average annualized base rent (ABR) per square foot at the end of the quarter was $15.53. Liquidity and Capital Resources $3.6 million in total cash and cash equivalents as of June 30, 2022. Total debt, net was $35.5 million as of June 30, 2022. Financial Results Total revenue from operations was $1.4 million during the three-month period ended June 30, 2022, as compared to $988 thousand for the three-month period ended June 30, 2021. This represents a year-over-year increase of 40% driven primarily by the acquisition of properties. Operating expenses, including G&A, for the same periods were $2.0 million and $1.3 million, respectively, due to increases in G&A, recoverable expenses and depreciation/amortization from recent acquisitions, and compensation costs. Net operating income (“NOI”) for the same periods was $1.1 million and $824 thousand, a 28% increase from the same period last year, which is a direct result of the acquisition of properties. Net loss attributable to GIPR for the three months ended June 30, 2022 was $1 million as compared to $370 thousand for the same period last year. Distributions On June 27, 2022, the Company’s Board of Directors declared a monthly distribution of $0.054 per common share and operating partnership unit to be paid monthly to holders of record as of July 15, August 15, and September 15, 2022. 2022 Guidance The Company is not providing guidance on FFO, Core FFO, AFFO, Core AFFO, G&A, NOI, or acquisitions and dispositions at this time. However, the Company will provide timely updates on material events, which will be broadly disseminated in due course. The Company’s executives, along with its Board of Directors, continue to assess the advisability and timing of providing such guidance to better align GIPR with its industry peers. Conference Call and Webcast The Company will host its second quarter earnings conference call and audio webcast on Monday, August 15, 2022, at 9:00 a.m. Eastern Time. To access the live webcast, which will be available in listen-only mode, please follow this link. If you prefer to listen via phone, U.S. participants may dial: 877-407-3141 (toll free) or 201-689-7803 (local). A replay of the conference call will be available after the conclusion of the live broadcast and for 30 days after. U.S. participants may access the replay at 877-660-6853 (toll free) or 201-612-7415 (local), using access code 13732104. About Generation Income Properties Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate corporation formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial net lease properties in densely populated submarkets. The Company intends to elect to be taxed as a real estate investment trust. Additional information about Generation Income Properties, Inc. can be found at the Company's corporate website: www.gipreit.com. Forward-Looking Statements This press release, whether or not expressly stated, may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "intend," "expect," "plan," "should," "will," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These statements reflect the Company's expectations regarding future events and economic performance and are forward-looking in nature and, accordingly, are subject to risks and uncertainties. Such forward-looking statements include risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements which are, in some cases, beyond the Company’s control which could have a material adverse effect on the Company's business, financial condition, and results of operations. These risks and uncertainties include the risk that we may not be able to timely identify and close on acquisition opportunities, our limited operating history, potential changes in the economy in general and the real estate market in particular, the COVID-19 pandemic, and other risks and uncertainties that are identified from time to in our SEC filings, including those identified in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed on March 18, 2022, which are available at www.sec.gov. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company's business, financial condition, and results of operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statement made by us herein speaks only as of the date on which it is made. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof, except as may be required by law. Notice Regarding Non-GAAP Financial Measures In addition to our reported results and net earnings per diluted share, which are financial measures presented in accordance with GAAP, this press release contains and may refer to certain non-GAAP financial measures, including Funds from Operations ("FFO"), Core Funds From Operations ("Core FFO"), Adjusted Funds from Operations (“AFFO”), Core Adjusted Funds from Operations ("Core AFFO"), and Net Operating Income (“NOI”). We believe the use of Core FFO and Core AFFO are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of REITs. FFO and related measures including NOI should not be considered alternatives to net income as a performance measure or to cash flows from operations, as reported on our statement of cash flows, or as a liquidity measure, and should be considered in addition to, and not in lieu of, GAAP financial measures. You should not consider our Core FFO or Core AFFO as an alternative to net income or cash flows from operating activities determined in accordance with GAAP. Our reconciliation of non-GAAP measures to the most directly comparable GAAP financial measure and statements of why management believes these measures are useful to investors are included below. Note 1: Subsequent to the issuance of the Company’s 2021 Form 10-K and Q1 2022 Form 10-Q, management of the Company identified an immaterial error in application of Accounting Standards Codification (ASC) 480-10, Distinguishing Liabilities from Equity. Specifically, the Company incorrectly classified the partnership interest of GIP Fund 1, LLC as Redeemable non-controlling interest rather than Non-controlling interest within Equity. The Company has accordingly corrected certain numbers in the prior year presentation above. Our reported results are presented in accordance with GAAP. We also disclose funds from operations ("FFO"), adjusted funds from operations ("AFFO"), core funds from operations ("Core FFO") and core adjusted funds of operations ("Core AFFO") all of which are non-GAAP financial measures. We believe these non-GAAP financial measures are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of REITs. FFO and related measures do not represent cash generated from operating activities and are not necessarily indicative of cash available to fund cash requirements; accordingly, they should not be considered alternatives to net income or loss as a performance measure or cash flows from operations as reported on our statement of cash flows as a liquidity measure and should be considered in addition to, and not in lieu of, GAAP financial measures. We compute FFO in accordance with the definition adopted by the Board of Governors of the National Association of Real Estate Investment Trusts ("NAREIT"). NAREIT defines FFO as GAAP net income or loss adjusted to exclude extraordinary items (as defined by GAAP), net gains from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets, and real estate related depreciation and amortization, including the pro rata share of such adjustments of unconsolidated subsidiaries. We then adjust FFO for non-cash revenues and expenses such as amortization of deferred financing costs, above and below market lease intangible amortization, straight line rent adjustment where the Company is both the lessor and lessee, and non-cash stock compensation to calculate Core AFFO. FFO is used by management, investors, and analysts to facilitate meaningful comparisons of operating performance between periods and among our peers primarily because it excludes the effect of real estate depreciation and amortization and net gains on sales, which are based on historical costs and implicitly assume that the value of real estate diminishes predictably over time, rather than fluctuating based on existing market conditions. We believe that AFFO is an additional useful supplemental measure for investors to consider because it will help them to better assess our operating performance without the distortions created by other non-cash revenues or expenses. FFO and AFFO may not be comparable to similarly titled measures employed by other companies. We believe that Core FFO and Core AFFO are useful measures for management and investors because they further remove the effect of non-cash expenses and certain other expenses that are not directly related to real estate operations. We use each as measures of our performance when we formulate corporate goals. As FFO excludes depreciation and amortization, gains and losses from property dispositions that are available for distribution to stockholders and extraordinary items, it provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, general and administrative expenses and interest costs, providing a perspective not immediately apparent from net income or loss. However, FFO should not be viewed as an alternative measure of our operating performance since it does not reflect either depreciation and amortization costs or the level of capital expenditures and leasing costs necessary to maintain the operating performance of our properties which could be significant economic costs and could materially impact our results from operations. Additionally, FFO does not reflect distributions paid to redeemable non-controlling interests. Contact Details Investor Relations +1 813-448-1234 ir@gipreit.com Company Website https://www.gipreit.com

August 12, 2022 09:15 PM Eastern Daylight Time

Image
Article thumbnail News Release

Generation Income Properties Announces Second Quarter 2022 Financial and Operating Results

Generation Income Properties

Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIPR" or the "Company") today announced its financial and operating results for the period ended June 30, 2022. Highlights (For the 3 months ended June 30, 2022) Generated net loss attributable to GIPR of $1.05 million, or ($0.46) per basic and diluted share. Generated Core FFO of ($206) thousand, or ($0.09) per basic and diluted share. Generated Core AFFO of $36 thousand, or $0.02 per basic and diluted share. Commenting on the quarter, CEO David Sobelman stated, “This quarter has demonstrated our ability to exercise patience and discipline in this changing market environment, while strengthening our balance sheet and stabilizing our capital structure to allow us the platform to focus on acquiring assets accretive to our growth through the latter half of the year. We are hyper-focused on identifying new opportunities consistent with our current portfolio of tenants that we believe continues to prove its resiliency during economic headwinds.” Core FFO and Core AFFO are supplemental non-GAAP financial measures used in the real estate industry to measure and compare the operating performance of real estate companies. A complete reconciliation containing adjustments from GAAP net income to Core FFO and Core AFFO are included at the end of this release. Portfolio (as of June 30, 2022, unless otherwise stated) Approximately 85% of our portfolio’s annualized base rent ("ABR") as of June 30, 2022 was derived from tenants that have (or whose parent company has) an investment grade credit rating from a recognized credit rating agency of “BBB-” or better. Our largest tenants are the General Service Administration (Navy & FBI), PRA Holdings, Inc., Pratt and Whitney, and Kohl’s, all who have an ‘BB+’ credit rating or better from S&P Global Ratings and contributed approximately 66% of our portfolio’s annualized base rent. The Company’s portfolio is 100% rent paying and has been since our inception. Approximately 92% of our portfolio’s annualized base rent in our current portfolio provide for increases in contractual base rent during future years of the current term or during the lease extension periods. The average annualized base rent (ABR) per square foot at the end of the quarter was $15.53. Liquidity and Capital Resources $3.6 million in total cash and cash equivalents as of June 30, 2022. Total debt, net was $35.5 million as of June 30, 2022. Financial Results Total revenue from operations was $1.4 million during the three-month period ended June 30, 2022, as compared to $988 thousand for the three-month period ended June 30, 2021. This represents a year-over-year increase of 40% driven primarily by the acquisition of properties. Operating expenses, including G&A, for the same periods were $2.0 million and $1.3 million, respectively, due to increases in G&A, recoverable expenses and depreciation/amortization from recent acquisitions, and compensation costs. Net operating income (“NOI”) for the same periods was $1.1 million and $824 thousand, a 28% increase from the same period last year, which is a direct result of the acquisition of properties. Net loss attributable to GIPR for the three months ended June 30, 2022 was $1 million as compared to $370 thousand for the same period last year. Distributions On June 27, 2022, the Company’s Board of Directors declared a monthly distribution of $0.054 per common share and operating partnership unit to be paid monthly to holders of record as of July 15, August 15, and September 15, 2022. 2022 Guidance The Company is not providing guidance on FFO, Core FFO, AFFO, Core AFFO, G&A, NOI, or acquisitions and dispositions at this time. However, the Company will provide timely updates on material events, which will be broadly disseminated in due course. The Company’s executives, along with its Board of Directors, continue to assess the advisability and timing of providing such guidance to better align GIPR with its industry peers. Conference Call and Webcast The Company will host its second quarter earnings conference call and audio webcast on Monday, August 15, 2022, at 9:00 a.m. Eastern Time. To access the live webcast, which will be available in listen-only mode, please follow this link. If you prefer to listen via phone, U.S. participants may dial: 877-407-3141 (toll free) or 201-689-7803 (local). A replay of the conference call will be available after the conclusion of the live broadcast and for 30 days after. U.S. participants may access the replay at 877-660-6853 (toll free) or 201-612-7415 (local), using access code 13732104. About Generation Income Properties Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate corporation formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial net lease properties in densely populated submarkets. The Company intends to elect to be taxed as a real estate investment trust. Additional information about Generation Income Properties, Inc. can be found at the Company's corporate website: www.gipreit.com. Forward-Looking Statements This press release, whether or not expressly stated, may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "intend," "expect," "plan," "should," "will," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These statements reflect the Company's expectations regarding future events and economic performance and are forward-looking in nature and, accordingly, are subject to risks and uncertainties. Such forward-looking statements include risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements which are, in some cases, beyond the Company’s control which could have a material adverse effect on the Company's business, financial condition, and results of operations. These risks and uncertainties include the risk that we may not be able to timely identify and close on acquisition opportunities, our limited operating history, potential changes in the economy in general and the real estate market in particular, the COVID-19 pandemic, and other risks and uncertainties that are identified from time to in our SEC filings, including those identified in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed on March 18, 2022, which are available at www.sec.gov. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company's business, financial condition, and results of operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statement made by us herein speaks only as of the date on which it is made. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof, except as may be required by law. Notice Regarding Non-GAAP Financial Measures In addition to our reported results and net earnings per diluted share, which are financial measures presented in accordance with GAAP, this press release contains and may refer to certain non-GAAP financial measures, including Funds from Operations ("FFO"), Core Funds From Operations ("Core FFO"), Adjusted Funds from Operations (“AFFO”), Core Adjusted Funds from Operations ("Core AFFO"), and Net Operating Income (“NOI”). We believe the use of Core FFO and Core AFFO are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of REITs. FFO and related measures including NOI should not be considered alternatives to net income as a performance measure or to cash flows from operations, as reported on our statement of cash flows, or as a liquidity measure, and should be considered in addition to, and not in lieu of, GAAP financial measures. You should not consider our Core FFO or Core AFFO as an alternative to net income or cash flows from operating activities determined in accordance with GAAP. Our reconciliation of non-GAAP measures to the most directly comparable GAAP financial measure and statements of why management believes these measures are useful to investors are included below. Note 1: Subsequent to the issuance of the Company’s 2021 Form 10-K and Q1 2022 Form 10-Q, management of the Company identified an immaterial error in application of Accounting Standards Codification (ASC) 480-10, Distinguishing Liabilities from Equity. Specifically, the Company incorrectly classified the partnership interest of GIP Fund 1, LLC as Redeemable non-controlling interest rather than Non-controlling interest within Equity. The Company has accordingly corrected certain numbers in the prior year presentation above. Our reported results are presented in accordance with GAAP. We also disclose funds from operations ("FFO"), adjusted funds from operations ("AFFO"), core funds from operations ("Core FFO") and core adjusted funds of operations ("Core AFFO") all of which are non-GAAP financial measures. We believe these non-GAAP financial measures are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of REITs. FFO and related measures do not represent cash generated from operating activities and are not necessarily indicative of cash available to fund cash requirements; accordingly, they should not be considered alternatives to net income or loss as a performance measure or cash flows from operations as reported on our statement of cash flows as a liquidity measure and should be considered in addition to, and not in lieu of, GAAP financial measures. We compute FFO in accordance with the definition adopted by the Board of Governors of the National Association of Real Estate Investment Trusts ("NAREIT"). NAREIT defines FFO as GAAP net income or loss adjusted to exclude extraordinary items (as defined by GAAP), net gains from sales of depreciable real estate assets, impairment write-downs associated with depreciable real estate assets, and real estate related depreciation and amortization, including the pro rata share of such adjustments of unconsolidated subsidiaries. We then adjust FFO for non-cash revenues and expenses such as amortization of deferred financing costs, above and below market lease intangible amortization, straight line rent adjustment where the Company is both the lessor and lessee, and non-cash stock compensation to calculate Core AFFO. FFO is used by management, investors, and analysts to facilitate meaningful comparisons of operating performance between periods and among our peers primarily because it excludes the effect of real estate depreciation and amortization and net gains on sales, which are based on historical costs and implicitly assume that the value of real estate diminishes predictably over time, rather than fluctuating based on existing market conditions. We believe that AFFO is an additional useful supplemental measure for investors to consider because it will help them to better assess our operating performance without the distortions created by other non-cash revenues or expenses. FFO and AFFO may not be comparable to similarly titled measures employed by other companies. We believe that Core FFO and Core AFFO are useful measures for management and investors because they further remove the effect of non-cash expenses and certain other expenses that are not directly related to real estate operations. We use each as measures of our performance when we formulate corporate goals. As FFO excludes depreciation and amortization, gains and losses from property dispositions that are available for distribution to stockholders and extraordinary items, it provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, general and administrative expenses and interest costs, providing a perspective not immediately apparent from net income or loss. However, FFO should not be viewed as an alternative measure of our operating performance since it does not reflect either depreciation and amortization costs or the level of capital expenditures and leasing costs necessary to maintain the operating performance of our properties which could be significant economic costs and could materially impact our results from operations. Additionally, FFO does not reflect distributions paid to redeemable non-controlling interests. Contact Details Investor Relations +1 813-448-1234 ir@gipreit.com Company Website https://www.gipreit.com

August 12, 2022 06:15 PM Eastern Daylight Time

Image
Article thumbnail News Release

Volatus Aerospace Obtains Industry First Special Flight Operations Certificate for Beyond Visual Line of Sight Operations without a Visual Observer

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") is pleased to announce that it is the first company in Canada to receive a Beyond Visual Line Of Sight ("BVLOS") Special Flight Operations Certificate (SFOC) from Transport Canada to operate a remotely piloted aircraft (RPAS, drone) without a visual observer, using a ground-based optical detect and avoid system. This is a key milestone in the commercialization of the AERIEPORT nesting station and a necessary and important step toward commercializing drone technologies at scale in Canada. Volatus is experienced in BVLOS operations and currently holds authorization to conduct BVLOS training at several locations across Canada. This new SFOC will enable Volatus Aerospace to remotely pilot a Volatus M300 drone integrated with FlightOps’ remote operations software and a CASIA G Optical Detect and Avoid system from IRIS Automation at the Lake Simcoe Regional Airport. “An SFOC is an authorization, usually on a one-time, single location, or risk level basis given by Transport Canada to operate above and beyond current regulations,” explained Richard Podolski, VP of Flight Operations for Volatus Aerospace. “It’s a very well regulated and safety-oriented method for developing new functionality in an industry or accomplishing what nobody thought to write rules for.” “For drone technology to be successful long-term, it needs to improve upon current methods and applications, be affordable, and scalable,” stated Glen Lynch, CEO of Volatus Aerospace. “Today’s achievement has broken through a major barrier and opened the door to commercial opportunities that have only been dreamed about but until today have been just out of reach. Remote operations beyond visual line of sight are now a reality for Volatus. Commercialization begins now.” About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, Latin America and most recently in Europe. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statement This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Rob Walker +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

August 10, 2022 12:29 PM Eastern Daylight Time

Image
Article thumbnail News Release

ToT Partners’ William Tillman named to board of The Flossy Organization

ToT Partners

ToT Partners, a recently launched holding company that owns and operates businesses in the consumer and banking sectors, today announced that its founder and chairman, William Tillman, has been appointed to the advisory board of The Flossy Organization, an advocacy group for Canarsie, a neighborhood in Brooklyn. Canarsie is a majority-Black residential neighborhood in southeast Brooklyn, and The Flossy Organization’s mission is to fight for economic development, resources, and policy action that improve the neighborhood while maintaining its character, history, and dignity. As reported in the local news outlet Brownstoner, The Flossy Organization was recently central to efforts to successfully oppose a proposed pesticide storage facility near the neighborhood’s southern border. The city eventually opted to use the facility for another project. This work is indicative of what The Flossy Organization does and will continue to do on a regular basis: Being an advocate for and ally to the people and businesses that call Canarsie home. Tillman brings to the Organization’s advisory board extensive experience on Wall Street and relationships with influential figures in politics, finance, and business. His firm, ToT Partners, is a parent company with a plethora of business and philanthropic interests. It currently operates a merchant banking and private equity arm, DB Capital, and a luxurious private dining business, Taste of Tillman. It is also aligned with The ToT Foundation, a 501c3 nonprofit that connects Black individuals to business opportunities, resources, and mentorship. The Foundation’s financial support comes from Wall Street firms, hedge funds, private equity funds, and well-known hospitality businesses, and it is hosting its inaugural gala Sept. 11 at Rainbow Room in New York City. Said Tillman: “Economic justice isn’t pulling Black kids out of a neighborhood like Canarsie and getting them into Harvard and then on staff at Goldman Sachs. Economic justice is convincing, sometimes compelling, those with power and generational wealth to use it to build up communities that have historically been excluded, exploited, and disinvested. In communities that are rich with history and dignity but tragically don’t get their piece of the economic pie. In communities like Canarsie, East Flatbush, and Bed Stuy. That’s what I’m excited to be a part of as a board member of Flossy.” About ToT Partners ToT Partners was founded by William Nicholas Tillman in 2022. The name of the conglomerate embodies what the founder takes pride in: Being a polymath and illuminating ambiguity through business and philanthropy ventures. Contact Details William Tillman William.tillman@totpartners.com

August 10, 2022 11:53 AM Eastern Daylight Time

Article thumbnail News Release

The Association of Professional Builders Identifies Key Warning Signs for Residential Home Builders

Association of Professional Builders

The Association of Professional Builders (APB), a leading business coaching service for custom home builders, with members in the United States, Canada, Australia and New Zealand, today identified five key warning signs that indicate a residential building company may be headed for trouble. In light of the issues being faced by Australian home builders – and a possible recession that US economists are warning – now is the optimal time for residential home builders to take stock of their businesses and cash flow to avoid facing a risky financial future. “The last 12 months have been tough on builders,” said Russ Stephens, co-founder of APB. “Around 80% of them are using their own funds in order to complete a client's home. Some of the building companies we’re seeing in the US are struggling to implement cost escalation clauses which is causing a myriad of issues. If their losses continue unchecked, they will eventually be unable to pay their bills and will be forced to call the liquidators in.” This trend may be migrating to the US market soon, if builders miss these key warning signs. Consumers are already being hit hard by inflation and interest rate rises and are not in the position to cover the increase in the cost of construction materials. APB has identified five stages of decline that residential home builders need to be aware as they are managing their day-to-day operations: Potential loss on a contract: APB warns that this is stage 0, the first sign of trouble. This happens when a building company has an unprofitable contract that has not yet started. An unprofitable contract is one where the gross profit on the contract does not cover the proportional company overheads. If a building company, for example, completes 12 projects a year and has annual overheads of $1 million, they will need to generate $83,333 in gross profit from each job to break even. If the company does not reach that gross profit target, which can be seriously eroded by the rising construction costs, then they lose money. APB is encouraging builders to reprice their projects before construction commences to make sure they are still profitable; if not, it’s important to renegotiate with the client. If the client won’t renegotiate, then APB encourages the home builder professional to seek expert legal advice from a construction lawyer that will act in their best interests. Actual loss on a contract: This stage is one where the building company for whatever reason has lost money on a project once their proportional fixed expenses were factored in. APB notes that this is possible even when the price of construction materials are not increasing. Often, it can be a result of estimating errors or prolonged delays which increase the proportional fixed expenses or errors and omissions in the plans and specifications. Also as a result of the rise in the cost of construction during 2021, many building companies ended up losing money on a project even before their proportional fixed expenses were factored in. Company lost money: If proportional fixed expenses were not factored in, the next stage of decline for a building company is an overall loss from all of their activity during a financial or calendar year. When a business loses money, they begin eroding their reserves which also reduces their working capital, thus making the business even more vulnerable to future black swan events. This is where additional funding in the form of a loan or an injection of shareholder capital in order for it to continue trading. Speed is the most important tool here. How badly affected the company is by a trading loss depends on the size of its loss versus the size of the reserves. APB warns that this stage can be deceiving for builders as the company may still be cash-flow positive. Most building companies can absorb a trading loss while still paying their suppliers and subcontractors, however, they are dipping into their reserves at this point. If a company loses enough money to wipe out its entire reserves in a single year, or it accumulates losses over multiple years that exceed its reserves, then it will begin the journey into negative equity. Negative equity: At this stage, building companies are extremely high risk and vulnerable because their liabilities exceed their assets. They are able to still trade legally as they have a positive cash flow which allows them to pay their suppliers and subcontractors on time classifying them as trading solvent. In reality, they are operating as Ponzi schemes, using cash inflows from project A to pay creditors on project B. When a building company reaches this stage, all too often the company executives bury their heads in the sand and work flat out in the hope they can turn things around. Lacking the financial knowledge that is needed here to understand the gravity of the situation they find themselves in is a fast deteriorating situation which can quickly spiral out of control. Insolvency: Once a company reaches this stage and is no longer able to pay their invoices on time, they are classified as insolvent. Often, companies will enter into payment plans with the tax office deferring their due dates while pouring in every cent available to them in a desperate attempt to keep their company open. Unfortunately, this is the most dire stage of decline for a building company, which could have also been avoided had they sought help and changed direction earlier. Some of the best run businesses can be caught in this as a result of fast changing market conditions and environments - ultimately resulting in a financial situation where they did not have the tools to see what’s coming. APB offers a range of builder resources to help guide companies in growing and building their companies safely and securely. Currently the company offers a range of free training including “Pricing for Profit” which includes a three-step process to help residential home builders price new home construction projects and renovations. Other free trainings include, “Systemizing A Residential Building Company,” “Growing Margins,” “Crisis Management For Custom Home Builders,” “Cash Flow Management For Custom Home Builders,” and “90 Day Planning for Builders,” among other key topics. APB encourages residential home builders to check out the free resources, and contact the company should they be in need of additional custom support and coaching. For more information and to access APB’s resources, visit: https://associationofprofessionalbuilders.com/resources. # # # ABOUT THE ASSOCIATION OF PROFESSIONAL BUILDERS The Association of Professional Builders is a leading business coaching service for custom home builders in the United States of America, Australia, New Zealand, and Canada. It provides tested and proven systems for builders to scale and succeed, based on data, experience, and results. For more information, visit: https://associationofprofessionalbuilders.com. Contact Details The Hoyt Organization Alyson Campbell +1 310-373-0103 acampbell@hoytorg.com The Hoyt Organization Cinnamon Thompson +1 310-373-0103 cthompson@hoytorg.com Company Website https://associationofprofessionalbuilders.com/

August 10, 2022 08:30 AM Central Daylight Time

Article thumbnail News Release

Copper Property CTL Pass Through Trust Files 2022 Quarterly Report and Schedules Live Call to Discuss Recent Financial and Operating Results

Copper Property CTL Pass Through Trust

Copper Property CTL Pass Through Trust (“the Trust”) filed its Quarterly Report with the SEC on Form 10Q for the quarter ended June 31, 2022. The Trust will host a live conference call to discuss its recently filed 10Q and most recent Monthly Reports. The conference call will be held on Thursday, August 11, 2022 at 12 noon Eastern Time and will include a Question and Answer (Q&A) session. Conference Call Details: DATE: Thursday, August 11, 2022 TIME: 11:00 am CDT | 12:00 noon EDT DIAL-IN: U.S. & Canada Toll Free: (877) 841-2983 or International (215) 268-9893 WEBCAST: www.ctltrust.net via the Investor Relations Section or click here to access REPLAY (Available for 30 days): U.S. & Canada Toll Free: (877) 660-6853 / International: (201) 612-7415 Conference ID#: 13732240 Additional information, including the Trust’s Monthly Report and Quarterly Report, as well as other filings with the Securities and Exchange Commission (“SEC”) can be accessed via the Trust’s website at www.ctltrust.net. About Copper Property CTL Pass Through Trust Copper Property CTL Pass Through Trust (the “Trust”) was established to acquire 160 retail properties and 6 warehouse distribution centers (the “Properties”) from J.C. Penney as part of its Chapter 11 plan of reorganization. The Trust’s operations consist solely of owning, leasing and selling the Properties. The Trust’s objective is to sell the Properties to third-party purchasers as promptly as practicable. The Trustee of the trust is GLAS Trust Company LLC. The Trust is externally managed by an affiliate of Hilco Real Estate LLC. The Trust is intended to be treated, for tax purposes, as a liquidating trust within the meaning of United States Treasury Regulation Section 301.7701-4(d). For more information, please visit https://www.ctltrust.net/. Forward Looking Statement This news release contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, the Trust’s expectations or beliefs concerning future events and stock price performance. The Trust has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Trust believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Trust’s Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”), may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Trust’s filings with the SEC that are available at www.sec.gov. The Trust cautions you that the list of important factors included in the Trust’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this news release may not in fact occur. The Trust undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Contact Details Mary Jensen - Investor Relations +1 310-526-1707 mary@irrealized.com Copper Property CTL Pass Through Trust Larry Finger - Principal Financial Officer +1 310-526-1707 lfinger@ctltrust.net Company Website https://www.ctltrust.net/

August 09, 2022 06:35 PM Eastern Daylight Time

Article thumbnail News Release

Copper Property CTL Pass Through Trust Issues Monthly Reporting Package for July 2022

Copper Property CTL Pass Through Trust

Copper Property CTL Pass Through Trust (“the Trust”), has filed a Form 8-K containing its monthly report for the period ended July 31, 2022. An aggregate total distribution of $29.3 million or $0.390906 per trust certificate will be paid on August 10, 2022 to certificateholders of record as of August 9, 2022. The total distribution includes a $21.3 million aggregate net sales proceeds distribution, as well as a $8 million net operations distribution. Additional information, including the Trust’s Monthly Report and Quarterly Report, as well as other filings with the Securities and Exchange Commission (“SEC”) can be accessed via the Trust’s website at www.ctltrust.net. About Copper Property CTL Pass Through Trust Copper Property CTL Pass Through Trust (the “Trust”) was established to acquire 160 retail properties and 6 warehouse distribution centers (the “Properties”) from J.C. Penney as part of its Chapter 11 plan of reorganization. The Trust’s operations consist solely of owning, leasing and selling the Properties. The Trust’s objective is to sell the Properties to third-party purchasers as promptly as practicable. The Trustee of the trust is GLAS Trust Company LLC. The Trust is externally managed by an affiliate of Hilco Real Estate LLC. The Trust is intended to be treated, for tax purposes, as a liquidating trust within the meaning of United States Treasury Regulation Section 301.7701-4(d). For more information, please visit https://www.ctltrust.net/. Forward Looking Statement This news release contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, the Trust’s expectations or beliefs concerning future events and stock price performance. The Trust has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Trust believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Trust’s Registration Statement on Form 10 filed with the Securities and Exchange Commission (the “SEC”), may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Trust’s filings with the SEC that are available at www.sec.gov. The Trust cautions you that the list of important factors included in the Trust’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this news release may not in fact occur. The Trust undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Contact Details IRRealized, LLC Mary Jensen - Investor Relations +1 310-526-1707 mary@irrealized.com Copper Property CTL Pass Through Trust Larry Finger - Principal Financial Officer +1 310-526-1707 lfinger@ctltrust.net Company Website https://www.ctltrust.net/

August 09, 2022 06:35 PM Eastern Daylight Time

Article thumbnail News Release

QuantmRE partners with Texture Capital and Launches Its Blockchain-Based Real Estate Marketplace

Texture Capital

QuantmRE today announces its partnership with Texture Capital and the launch of its blockchain-based Home Equity Marketplace that allows investors -- including individuals, family offices and institutions -- to buy, sell and trade tokenized interests in the equity in residential homes, thereby enabling digital access to this asset class estimated to be over $25 trillion in size according to Freddie Mac. By partnering with Texture Capital, QuantmRE broadens its compliance capabilities via Texture’s broker-dealer and Alternative Trading System (ATS). This gives QuantmRE the regulatory readiness to launch its tokenized Home Equity Marketplace, reimagining real estate investing by making the equity in owner-occupied residential homes investible and tradable, powered by blockchain technology. Leveraging the Algorand blockchain protocol, QuantmRE’s Home Equity Marketplace allows homeowners to partner with investors via a ‘Home Equity Agreement’ – a financial structure, protected by a lien on title, that fractionalizes the current and future value of a residence. This innovative financial tool enables the homeowner to unlock equity liquidity and allows the investor to gain exposure to the future value of the property. For the homeowner, there is no loan and therefore no monthly payments, no interest rate charges and no added debt. QuantmRE’s Home Equity Marketplace enables investors to invest in fractionalized and tokenized Home Equity Agreements, where they can build, model, manage and trade personalized portfolios of the equity in hand-picked owner-occupied residential properties, taking advantage of the downside protection and leveraged upside returns offered by the Home Equity Agreement structure. Matthew Sullivan, QuantmRE’s Founder and CEO, said “We are delighted to be partnering with Texture and the important regulatory milestone that this brings, and we look forward to working closely with Texture to lead the way in making home equity more liquid, more accessible and easily tradable for everyone seeking a smarter way to invest in US residential real estate”. “QuantmRE is unique in the digital asset space”, said Richard Johnson, CEO of Texture Capital. “In a rising interest rate environment where home values have been appreciating, I believe QuantmRE is ideally positioned to take advantage of increasing demand from homeowners to find alternative, debt-free solutions to access their home equity, as well as enabling a wider range of investors to actively participate in the previously untapped real estate asset class of residential home equity”. About QuantmRE At a time when homeowners need to access cash more than ever, QuantmRE’s “Equity Freedom” program offers an alternative debt-free solution – the Home Equity Agreement. The agreement enables homeowners to receive a cash lump sum in exchange for a portion of the current and potential future value of their home without taking on any additional debt (no loans, no interest and no monthly payments). In addition to originating Home Equity Agreements, QuantmRE has developed an advanced blockchain-based Home Equity Marketplace where individuals, family offices and institutional investors can gain broad access to the multi-trillion-dollar residential real estate asset class by buying, selling and trading tokenized Home Equity Agreements. For more information, visit www.QuantmRE.com About Texture Capital Texture Capital, the blockchain powered marketplace for private capital, is a FINRA member and SEC registered broker dealer focused on digital securities. We help clients compliantly issue tokens representing equity, debt, revenue share, royalties or other investment contracts. Leveraging blockchain technology and smart contracts, we aim to improve the market structure of traditional capital markets. Texture provides tools for issuance, tokenization and secondary market trading via our Alternative Trading System. Please visit https://texture.capital for more information and to stay informed of future updates. Contact Details QuantmRE Matthew Sullivan +1 888-612-3101 msullivan@quantmre.com Texture Capital Richard Johnson +1 646-979-8558 richard@texture.capital

August 09, 2022 12:30 PM Eastern Daylight Time

1 ... 5152535455 ... 89