DECN GENVIRO! TRIAL USING HUMAN SALIVA DONORS FOR ITS SWIFT TEST KITS PROCEEDS DIRECTLY TO FDA LEVEL TESTING AS COVID-19 PRODUCT TESTING ENTERS “HOME STRETCH”
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With Favorable testing Results anticipated on november 13 from our FDA and CLIA certified laboratory, decn estimates completion and filing of 3rd fda eua application in the next 3 weeks
LOS ANGELES, CA / ACCESSWIRE / November 12, 2020 / Decision Diagnostics Corp. (OTC: DECN) www.decisiondiagnostics.co, a leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters through its subsidiary Pharma Tech Solutions, Inc., today announced its donor study has entered its final stages, and that having yielded better and quicker than anticipated results a separate feasibility study will not be required. The company is now actively testing known positive and negative Covid-19 patients in an effort to finish its FDA EUA submission estimated to be filed in the next 3-4 weeks or as soon as the complex EUA application is completed. The company is currently reviewing drafts of this application. The donor study will provide exact data requirements for FDA EUA, EU CE Mark and Russian Federation applications for the Genviro! Saliva Swift Kit for the detection of Covid-19.
“Testing for Genviro! has been so encouraging that on Tuesday, November 10, 2020 our certified testing lab partner informed us that we can avoid doing two studies and instead move to direct patient testing of positive and negative Covid-19 human samples required for FDA submission. That’s taking place right now” said CEO Keith Berman. “As such, we have been informed that testing is in the “home stretch,” and we estimate an FDA submission in a brief period after receiving results from our testing partner with the results to be incorporated in our FDA EUA application.
Berman continued “The testing of positive and negative human saliva samples is demonstrating a number of critical findings. One such finding concerns the identification of sample results where we anticipate positive results to be just that, positive, and the identification of negative results to also be just that, negative. In marked contrast to the expected GenViro! Swift Kit result reporting, there are popular testing methods currently on the market that have what we consider largely unacceptable false negative rates. Numerous news articles have confirmed this. We have also commented on this. The FDA is paying particular attention to the incidence of false negative reporting.”
Berman further stated, “The current testing will also allow us to do the final programming of algorithms for the Genviro! Swift Kit meters, fixing the version level at version 1.7. We will also be enhancing our meters with the ability to provide a qualitative measure of certain probabilities. This additional meter feature, version 2.1, is expected to be implemented early in 2021. We will expand on that capability in subsequent announcements as more results become available and are validated. With all of this data available in approximately 10 seconds, at the actual point of care or testing, we believe now more than ever that we have what will turn out to be the most desirable technology available for rapid and reliable Covid detection.”
DECN had previously targeted the fourth quarter, 2020 for FDA EUA, EU CE Mark and Russian Federation submissions. We do not anticipate any deviation from this schedule, at least as far as the application from the Russian Federation is concerned. As was highlighted in a prior announcement, the company is emboldened about the efficacy of its saliva technology because of recent media and academic reports showing that saliva may well be the best way to detect the presence of Covid-19 in a virtually non-invasive method.
ABOUT DECISION DIAGNOSTICS CORP
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN's products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With newly inspired technology, and diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a $15+ billion at-home testing market.
The company's new GenViro!™ products designed to test for Covid-19 are not yet available in the United States or Puerto Rico, but Emergency (EUA) Waivers are in process with the U.S. FDA with additional submissions to take place in the near future. The company has also signed an agreement with an FDA and CLIA certified US, Pennsylvania-based testing partner to complete testing per current FDA guidelines and continues to look forward to the FDA authorization of its EUAs.
The same data that will be produced by the company’s Pennsylvania testing partner will be used for submissions to the EU and Russian Federation. We will also use data provided by our Korean R&D and contract manufacturing partner as part of their extensive product development schedule and as part of the XPRIZE initiative which is progressing as yet a third validation of the testing methodology.
Beyond the testing, the company has received word from several of its large GenUltimate distributors who are seeking to have Genviro! added to their Amazon product offerings upon FDA approval. Currently, Amazon only offers special licenses for point of care and professional use medical products, which would preclude the individual use GenViro! Kit from being available on Amazon, even after FDA approval is secured. Two of the company’s GenUltimate product distributors have these “professional use” arrangements with Amazon, with a third distributor application in the works, although the company may determine that it is in its best interest to offer limited exclusivity to one distributor once FDA authorization is achieved.The company continues to recruit and accept applications from prospective domestic and international distributors. Inquiries can be directed to info@decisiondiagnostics.co.
Forward-Looking Statements:
This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of November 10, 2020, regarding the company's business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
COVID-19 Continues to Cause Grief, High Stress and Spending Woes in Young Adults
Atlanta, GA, November 12, 2020 — We have a new norm in the United States: the majority of young adults between the ages of 18 to 34 — about 26.6 million — now live at home with their parents, according to a recent survey by the Pew Research Center.
Supporting grown children can be stressful, especially if your income has been impacted by the pandemic, but there are ways to take control of your family’s finances and map a path toward financial independence for your young adult.
Nicola Smith Jackson, bestselling author, financial advisor and TV analyst confirms, “Undergraduates at unprecedented levels are forced to make drastic changes, moving back home and studying remotely. Many are also forced to take a gap year because of the times. College graduates are also facing the worst job market, and student debt is at an all-time high — also putting a severe strain on their finances. More than seven in 10 graduates are in the red, owing more than $30,000 in student loans, and those already in the workforce are more likely to lose their jobs or take a severe pay cut.”
Even before the pandemic, young adults were increasingly dependent on their parents. About six in 10 parents with children between the ages of 18 and 29 said they have given their kids at least some financial help in the past year — primarily for recurring expenses such as tuition, rent, groceries or bills, Pew reported.
“Supporting grown children adds additional stress to parents when their own financial security is at risk, from medical coverage to auto insurance, groceries and internet, there are hidden costs to having children come back home, and it doesn’t look like it will be getting better any time soon,” says Jackson.
One thing families can do: use this together-time as an opportunity to teach your millennials about finances, and when you do, Jackson advises covering the following topics to help your young earner become more stable:
Avoid bad debt
Save to invest
Borrow only what you need
Generate passive income
Budget, budget, budget
Dr. Nicola Jackson has over 25 years of entrepreneurial experience. She currently leads a multimillion-dollar team of agents consisting of tens of thousands in the financial service industry. She has also led over 450,000 sales representatives in more than 30 countries. As a wife and mother of four, including one child disabled, she turned her pains into passion after burying three children by the age of 23. She holds true to her Christian faith and uses Kingdom values and principles to deliver a sound message to thousands of people around the nation on how to manage a household, maintain a strong marriage and create a multimillion-dollar empire. Dr. Jackson was also an Executive Producer and star on the BET Centric hit reality series, Amateur Millionaires Club; has been featured in several national publications; and is a highly sought after speaker. She has shared the stage with the likes of Dr. Myles Munroe, Dr. Maya Angelou, Ambassador Andrew Young, Bishop Paul Morton, Steve Harvey, Tommy Dortch, Magic Johnson, Dr. Bernice King and many other world-renowned speakers. She is the host of the popular radio show and podcast, “Power Start Your Day.” She is also the author of Inside the Millionaire’s Vault and her upcoming books, Power Moves Journal for the Unstoppable Entrepreneur and Cash The Check, Time-tested Wealth Principles You Can Take to the Bank.
She founded the Pink Millionaire Club where she mentors women on how to “Connect the dots between the haves and the have nots” through Prayer, Impact, Nurturing and Knowledge. Currently, Dr. Jackson travels the world speaking to thousands on the topics, “Live and Die Rich” and “How to Become a Successful Entrepreneur While Being Spiritually Grounded.” She has dedicated her life to empowering others with opportunities and financial literacy to build wealth and legacies for families around the globe.
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Undo Overeating and Halt Weight Gain with this Breakthrough, Science-Backed Program
San Francisco, CA, November 12, 2020 — The premise of Whole Person Integrative Eating: A Breakthrough Dietary Lifestyleto Treat the Root Causes of Overeating, Overweight, and Obesity is simple yet powerful: Identify the reasons you overeat (your overeating styles) and gain weight—with the illuminating self-assessment quiz—then overcome overeating and lose weight by replacing your overeating styles with the antidotes: the elements of the Whole Person Integrative Eating program.
By shedding light on the root causes of overeating, holistic nutrition researcher Deborah Kesten, M.P.H., and behavioral scientist Larry Scherwitz, Ph.D., present a program that empowers readers with a personalized plan, and in turn new hope and new choices to help them reduce overeating, lose weight, and keep it off. “The combined effect of all seven ‘ingredients’ of Whole Person Integrative Eating makes the transformative difference,” says Kesten.
Plus, you’ll discover 65 delicious recipes based on the Whole Person Integrative Eating (WPIE) program to jumpstart your optimal-eating efforts.
WPIE is not a diet that a person goes on … then off. It is a scientifically sound, dietary lifestyle designed to be practiced for a lifetime.
"If people follow the revolutionary program outlined in this game-changing, insightful book, it may be the most helpful step they can take toward losing weight and keeping it off," says bestselling author Kenneth Pelletier, M.D., clinical professor of medicine at University of California School of Medicine, San Francisco.
An excerpt from the Foreword of Whole Person Integrative Eating by New York Times best-selling author Dean Ornish, M.D., Clinical Professor of Medicine, University of California:
“The takeaway message in this well-researched and illuminating book is this: the antidote to overeating, overweight, and obesity and perhaps other diet-related chronic conditions may be to follow the ancient-food-wisdom-based guidelines that Kesten and Scherwitz describe in this book.”
The authors’ paradigm-shifting message is that food influences not only the physical dimensions of health, but also our emotional, spiritual and social well-being. Their dietary lifestyle can build bridges between the millions who struggle with overeating and weight issues and the medical community. And it can inspire us all to re-envision our relationships with food, eating and weight, so that each time we eat, we are nourished … for life.
Deborah Kesten, M.P.H.,is an international nutrition researcher, award-winning author and medical/health writer, with a specialty in preventing and reversing obesity and heart disease. She served as Nutritionist on Dean Ornish, M.D.’s first clinical trial for reversing heart disease through lifestyle changes, the results of which were published in the Journal of the American Medical Association. She has served as Director of Nutrition at cardiovascular clinics in Europe and on the Board of Directors of the American Heart Association, San Francisco.
Kesten has published more than 400 nutrition and health articles. Her first book, Feeding the Body, Nourishing the Soul, received the first-place gold award in the Spirituality category from the Independent Publisher Book Awards. Whole Person Integrative Eating has been honored with the No.1 gold, best-book award in the Health category by Book Excellence Awards. She is a VIP Contributor at Arianna Huffington’s Thrive Global, and is married to behavioral scientist and co-author of Whole Person Integrative Eating, Larry Scherwitz, Ph.D.
Health Food Innovator Edward & Sons Trading Company, Inc. – First To Introduce Miso-Cup® Instant Soup & Gluten-Free Baked Brown Rice Snaps® To American Consumers –Marks 40th Anniversary Milestone
CARPINTERIA, CA., MARCH 8, 2018 - The first Whole Foods Market wouldn’t open in Austin, Texas, for another two years. The first Sprouts wouldn’t make its debut in Arizona for another 24 years. Vegetarians were relegated to the shadows in most supermarket settings, and for much of the population, the term Vegan sounded like something out of “Star Trek.”
The year was 1978 and the health food revolution was in its infancy. But a young man named Joel Dee with a vision of what the industry could one day become saw the future. And it was delicious.
As a young man, Joel worked alongside his two brothers and their father, Edward, in the family’s iconic New Jersey-based business, Smarties Candy Company. But, as fate would have it, Joel’s interests extended well beyond the confection industry.
“I was responsible for export sales at the candy company and found it difficult to maintain a healthy, satisfying diet while on-the-road,” Joel recalls today. “Health food stores sold wholesome foods that required a kitchen and a long cooking time, both in short supply to a `road warrior’ such as myself. Conventional supermarkets sold convenience foods that were laced with preservatives and artificial ingredients, which I was determined to avoid. To make things even tougher, I had recently become vegetarian, so my restaurant menu options were often limited to salad and potatoes... not exactly a balanced diet.”
Adds Joel, “I was a traveling salesman who needed portable, nourishing, easy to prepare vegetarian food without artificial ingredients, but I couldn’t find it anywhere in 1976 America. I wondered: Could I be the only person who wants this? I hadn’t planned to start a new business, but I felt somewhat obliged to. If I wouldn’t take on the job of creating wholesome, vegetarian convenience foods, it occurred to me that no one else would either.”
With that motivation in mind, Joel began a two year effort to develop Miso-Cup® instant soup mix and, with its launch in 1978, Edward & Sons Trading Company, Inc. was born.
A History of “Firsts”
As it turned out, introducing instant Miso-Cup soup would be only the first of numerous company innovations that would continue for the next forty years. In 1979, for example, Edward & Sons introduced Baked Brown Rice Snaps® whole grain, gluten free crackers, decades before American shoppers would demand gluten free groceries on a massive scale. Numerous “first-to-market” vegan organic products followed, including canned coconut milk, hearts of palm, pineapple chunks and mandarin oranges, Worcestershire sauce, croutons, panko, ice cream cones and many more.
According to Joel, “We tend to do `firsts’ because that’s what we’re passionate about. We are driven to provide new options to our health-aware consumers, while creating markets for our ethical organic farmers and packers around the globe. We’re proud of our activities that protect native forests and support conversion from conventional to organic farming, which nourishes the environment while enhancing the well-being of everyone along the supply chain from farm to table.”
Indeed, Joel and his team have successfully developed so many different products over these past 40 years that they’ve chosen to create subsidiary brands to market and distinguish them all, including the flagship Edward & Sons® brand as well as Native Forest®, Let’s Do Organic®, Let’s Do Gluten-Free®, More Than Fair®, Nature Factor®, Road’s End Organics®, Premier Japan® and The Wizard's®.
Regardless of the brand name on the package, however, all products under the Edward & Sons umbrella are defined by the company’s longstanding commitment to excellent vegetarian food and to its enduring motto: Convenience Without Compromise.®
As Joel sums up, “We remain a vegetarian company that’s mission-driven to offer consumers delicious and nourishing convenience foods free of artificial ingredients. That’s how we’ve run the business for the past 40 years and it’s how I envision Edward & Sons to be run for the next 40 years - and beyond.”
Success Stories Show that Low Dose Naltrexone Helps Many People with Autoimmune Diseases
Chicago, IL, November 11, 2020 — Lupus, rheumatoid arthritis, Crohn’s, psoriasis,fibromyalgia and other autoimmune conditions affect nearly 23.5 million Americans, according to the National Institutes of Health.
In her thought-provoking book, The Power of Honest Medicine, patient advocate JuliaSchopick (with Don Schwartz) outlines a safe, inexpensive, often dramatically effective alternative to the costly, often-toxic treatments that doctors routinely prescribe for autoimmune and other diseases. It’s called Low Dose Naltrexone (LDN), and The Power of Honest Medicine is filled with compelling success stories from people all over the globe who have experienced relief from their symptoms thanks to LDN.
“There is lots of evidence that LDN is a groundbreaking treatment for autoimmune diseases, helping many patients with these conditions to achieve remission,” Julia writes. “In some cases, it can slow or stop the progression of their diseases. In many cases, patients experience a life-changing relief of symptoms.”
In spite of its documented benefits, the use of LDN to treat autoimmune conditions remains largely unknown among the medical community and the public. Julia is committed to changing that.
The Power of Honest Medicine contains contributions from 18 people from around the world (the U.S., the U.K. and Europe), all of whom are eager to spread the word about how LDN helped alleviate their symptoms of serious conditions—such as chronic fatigue syndrome, Crohn’s, multiple sclerosis, Parkinson’s disease, rheumatoid arthritis, lupus and fibromyalgia—when the higher priced, often-toxic medications they had been taking didn’t work. Also, with many of these conditions, the drugs doctors prescribe can cost thousands of dollars a month, compared with LDN, which costs around a dollar a day.
Additionally, The Power of Honest Medicine contains a section dedicated to helping readers understand LDN and why it has the potential to positively impact those suffering from autoimmune disorders. Plus, the book includes a chapter with strategies for helping readers convince their doctors to prescribe LDN—information Julia has been asked for again and again by her readers and by those who have heard her speak.
Ever since her husband’s death from a brain tumor in 2005, Julia has dedicated her life to patient advocacy and to sharing information about potentially lifesaving alternative and off-label medical treatments. Her first book, Honest Medicine, offered valuable insights supported by patient testimonials regarding the use of four underutilized lifesaving treatments: Silverlon, for non-healing wounds; intravenous alpha lipoic acid, for liver disease; the Ketogenic Diet, for epilepsy; and Low Dose Naltrexone,for autoimmune diseases.
Julia’s husband survived 12 years beyond any doctor’s prognosis, and she attributes this to the innovative treatments she uncovered for him. It’s been her passion since then to prevent others from suffering unnecessarily and having to juggle the side effects of toxic medications with the debilitating symptoms of their health conditions.
“I believe that LDN would be the standard of care for autoimmune diseasesif Big Pharma didn’t rule doctors’ prescribing decisions,” she adds.
Julia Schopick is the bestselling author of Honest Medicine and her follow-up book, The Power of Honest Medicine. She is a seasoned radio talk show guest who has appearedon over 200 shows and is often invited back. Julia’s goal is to empower patients to make the best health choicesfor themselves and their loved ones by teaching them about little-known but promisingtreatments their doctors may not know about. Julia’s articles have been featured in numerous publications, including American Medical News (AMA), Alternative & Complementary Therapies, the British Medical Journal and the Chicago Sun-Times.
Success Stories Show that Low Dose Naltrexone Helps Many People with Autoimmune Diseases
Chicago, Ill, November 11, 2020— Lupus, rheumatoid arthritis, Crohn’s, psoriasis,fibromyalgia and other autoimmune conditions affect nearly 23.5 million Americans, according to the National Institutes of Health.
In her thought-provoking book, The Power of Honest Medicine, patient advocate JuliaSchopick (with Don Schwartz) outlines a safe, inexpensive, often dramatically effective alternative to the costly, often-toxic treatments that doctors routinely prescribe for autoimmune and other diseases. It’s called Low Dose Naltrexone (LDN), and The Power of Honest Medicine is filled with compelling success stories from people all over the globe who have experienced relief from their symptoms thanks to LDN.
“There is lots of evidence that LDN is a groundbreaking treatment for autoimmune diseases, helping many patients with these conditions to achieve remission,” Julia writes. “In some cases, it can slow or stop the progression of their diseases. In many cases, patients experience a life-changing relief of symptoms.”
In spite of its documented benefits, the use of LDN to treat autoimmune conditions remains largely unknown among the medical community and the public. Julia is committed to changing that.
The Power of Honest Medicine contains contributions from 18 people from around the world (the U.S., the U.K. and Europe), all of whom are eager to spread the word about how LDN helped alleviate their symptoms of serious conditions—such as chronic fatigue syndrome, Crohn’s, multiple sclerosis, Parkinson’s disease, rheumatoid arthritis, lupus and fibromyalgia—when the higher priced, often-toxic medications they had been taking didn’t work. Also, with many of these conditions, the drugs doctors prescribe can cost thousands of dollars a month, compared with LDN, which costs around a dollar a day.
Additionally, The Power of Honest Medicine contains a section dedicated to helping readers understand LDN and why it has the potential to positively impact those suffering from autoimmune disorders. Plus, the book includes a chapter with strategies for helping readers convince their doctors to prescribe LDN—information Julia has been asked for again and again by her readers and by those who have heard her speak.
Ever since her husband’s death from a brain tumor in 2005, Julia has dedicated her life to patient advocacy and to sharing information about potentially lifesaving alternative and off-label medical treatments. Her first book, Honest Medicine, offered valuable insights supported by patient testimonials regarding the use of four underutilized lifesaving treatments: Silverlon, for non-healing wounds; intravenous alpha lipoic acid, for liver disease; the Ketogenic Diet, for epilepsy; and Low Dose Naltrexone,for autoimmune diseases.
Julia’s husband survived 12 years beyond any doctor’s prognosis, and she attributes this to the innovative treatments she uncovered for him. It’s been her passion since then to prevent others from suffering unnecessarily and having to juggle the side effects of toxic medications with the debilitating symptoms of their health conditions.
“I believe that LDN would be the standard of care for autoimmune diseasesif Big Pharma didn’t rule doctors’ prescribing decisions,” she adds.
Julia Schopick is the bestselling author of Honest Medicine and her follow-up book, The Power of Honest Medicine. She is a seasoned radio talk show guest who has appearedon over 200 shows and is often invited back. Julia’s goal is to empower patients to make the best health choicesfor themselves and their loved ones by teaching them about little-known but promisingtreatments their doctors may not know about. Julia’s articles have been featured in numerous publications, including American Medical News (AMA), Alternative & Complementary Therapies, the British Medical Journal and the Chicago Sun-Times.
Morneau Shepell reports 2020 third quarter financial results
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./
Highlights:
Revenue increased by 7.3 per cent to $240.3 million
Solid organic growth of 4.3 per cent
Adjusted EBITDA increased by 13.3 per cent to $49.6 million
Margins improved to 20.7 per cent from 19.6 per cent over the same period last year
TORONTO, Nov. 10, 2020 /CNW/ - Morneau Shepell Inc. (the "Company" or "Morneau Shepell") (TSX: MSI) today reported its financial results for the three-month period ended September 30, 2020 (all amounts are in Canadian dollars, unless noted otherwise).
In the third quarter over the comparable period last year the Company delivered growth of 7.3 per cent in revenue to $240.3 million with margins improving to 20.7 per cent from 19.6 per cent. Organic growth of 4.3 per cent in the quarter was a significant increase compared to the previous two quarters in 2020.
"We are pleased with our third quarter results and our strengthening position as the global leader in total wellbeing," said Stephen Liptrap, President and Chief Executive Officer. "Solid organic growth, along with improved margins, indicates that our strategy is working in line with our expectations. We delivered solid performance in all our geographic markets that included high single-digit revenue growth outside Canada."
Year-to-date, the Company reported $729.5 million in revenue, an increase of 13.7 per cent over the same period last year, along with adjusted EBITDA of $149.0 million, up 10.9 per cent.
Strategically, the Company entered the fast-growing digital telemedicine solutions market in North America and introduced its iCBT solution in the United States. The quarter also saw the publication of the Company's second annual Corporate Social Responsibility report that highlighted the Company's performance as a positive force in the community through the pandemic and its goals in this area for the future.
"We continue to prove our business is resilient and growing profitably," Liptrap added. "Going forward our sales pipeline remains strong, a reflection of the confidence our clients have in our solutions to meet the wellbeing needs of their people and, in the process, support their organizational resilience in navigating the challenging realities of the pandemic."
Q3 2020 Financial Review
In thousands of Canadian dollars, except per share amounts
Three months ended September 30, 2020
Three months ended September 30, 2019
Nine months ended September 30, 2020
Three months ended September 30, 2019
Revenue
$240,300
$223,980
$729,517
$641,341
Adjusted EBITDA
$49,634
$43,811
$149,027
$134,411
Adjusted EBITDA margin
20.7%
19.6%
20.4%
21.0%
Adjusted EBITDA per share (basic)
$0.71
$0.66
$2.14
$2.03
Normalized Free Cash Flow
$21,919
$24,212
$73,627
$75,846
Profit (loss)
($2,069)
$1,332
$45,095
$16,320
Earnings (loss) per share (basic)
(0.03)
$0.02
$0.65
$0.25
For the three months ended September 30, 2020, the Company reported $240.3 million in revenue, an increase of 7.3 per cent or $16.3 million over the same period last year. The increase is primarily due to organic revenue growth of 4.3 per cent, including 8.4 per cent organic growth in our U.S. and international regions, and the mid-year 2019 acquisition of Mercer's standalone, large market, health and defined benefit pension plan administration business, offset by the divestiture of our benefits consulting business earlier this year.
Adjusted EBITDA increased by 13.3 per cent to $49.6 million from $43.8 million compared to the same period last year. Adjusted EBITDA margin was 20.7 per cent in Q3, 2020, which improved compared to 19.6 per cent in Q3, 2019. Adjusted EBITDA per share (basic) for the quarter was $0.71, up 7.6 per cent from the same period last year.
Loss for the period was $2.1 million compared to a profit of $1.3 million in the same period in prior year. The loss is mainly due to a sublease loss provision of $10.3 million, before taxes. The sublease loss provision relates to the Company's planned relocation of its current head office and two other offices to a new head office location in downtown Toronto at the end of 2021. The move downtown will allow the Company to benefit from cost savings and reduce the overall square feet in a more collaborative and modern workspace with better access to clients and labour markets.
Loss per share (basic) for the period was $(0.03) compared to earnings per share (basic) of $0.02 in the comparative period.
During Q3, 2020, the Company generated Normalized Free Cash Flow of $21.9 million compared to $24.2 million in Q3, 2019. The decrease is mainly due to higher capital expenditures in the quarter.
The Company is maintaining its policy of paying a monthly dividend of 6.5 cents per share.
Third-Quarter Results Review – Notice of Conference Call Management of Morneau Shepell will host a conference call on Wednesday, November 11 at 10:00 a.m. Eastern Time to review the Company's Q3 2020 results. The call is open to all those wishing to attend, with a Question and Answer period to follow the presentation. In order to participate in the live conference call, please call 416-340-2217 (participant code 2187389#) in the Toronto area, or 1-800-806-5484 (participant code 2187389#) throughout the rest of Canada and in the United States. A replay of the call will be available via the Morneau Shepell website at morneaushepell.com.
About Morneau Shepell Inc. Morneau Shepell is a leading provider of technology-enabled HR services that deliver an integrated approach to employee wellbeing through our cloud-based platform. Our focus is providing world-class solutions to our clients to support the mental, physical, social and financial wellbeing of their people. By improving lives, we improve business. Our approach spans services in employee and family assistance, health and wellness, recognition, pension and benefits administration, retirement consulting, actuarial and investment services. Morneau Shepell employs approximately 6,000 employees who work with some 24,000 client organizations that use our services in 162 countries. Morneau Shepell is a publicly traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
Financial Measures To assist investors in assessing the Company's financial performance, this news release also makes reference to certain financial measures such as Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA per share and Normalized Free Cash Flow. The Company believes that these are useful supplemental measures to assist our investors in assessing our financial performance. See the Company's MD&A for more details. These financial measures do not have any standard meaning prescribed by International Financial Reporting Standards and therefore may not be comparable to similar measures presented by other issuers.
(1)
"Adjusted EBITDA" is defined as profit before finance costs, income tax expenses, depreciation, amortization, impairment losses, and certain unusual expenditures.
(2)
"Adjusted EBITDA Margin" is defined as Adjusted EBITDA as a percentage of revenue.
(3)
"Adjusted EBITDA per share" is defined as Adjusted EBITDA divided by the weighted average number of common shares.
(4)
"Normalized Free Cash Flow" is defined as cash provided by operating activities, adjusted for changes in non-cash operating working capital, capital expenditures, current income taxes (net of income taxes paid), and certain unusual expenditures.
Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of applicable securities laws, such as statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Use of words such as "may," "will," "expect," "believe," or other words of similar effect may indicate a "forward-looking" statement. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in the Company's publicly filed documents (available on SEDAR at sedar.com) and in the Company's MD&A under the heading "Risks and Uncertainties." Those risks and uncertainties include ability to maintain profitability and manage growth, reliance on information systems and technology, reputational risk, dependence on key clients, reliance on key professionals and economic conditions. Many of these risks and uncertainties can affect the firm's actual results and could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statement made by the Company or on the firm's behalf. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements in this news release are qualified by these cautionary statements. These statements are made as of the date of this news release and, except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities.
SOURCE Morneau Shepell Inc.
Need an affordable gift for someone who travels? Think seat protector!
Assuage makes the perfect gift for those of all ages who like to travel
LEWISBURG, Pennsylvania/TORONTO, Canada – (November 11, 2020) – Need to find the perfect gift for someone who likes to travel? This holiday season, Assuage is making it easy for people to give travelers the gift of helping them to stay healthier. These seat protectors are convenient, fit most seats, and create a necessary barrier between the seat and the person. This plays a crucial role in helping to avoid harmful germs and viruses that contribute to making travelers sick.
“People seem to get sick once they travel, which is in part due to all the germs and viruses they have been exposed to along the way,” explains Amelia Gundersen-Herman, co-founder of Assuage. “We have made it easy to help reduce the exposure, so people can travel and stay healthy. An Assuage seat protector will go a long way toward keeping people shielded from germs and viruses that may be on seats.”
Travelers come in contact with many public seats that they will need to use. They use them at the airport, on the airplane, in rental cars, and beyond. All of those seats may have harmful viruses and bacteria that can make the person sick. In fact, according to the National Institutes of Health, the COVID-19 virus can be detected on some surfaces for up to three days. Plus, the Centers for Disease Control and Prevention reports that the flu virus can live on some surfaces for up to 48 hours.
Considering that these harmful things can stay on surfaces for days, it’s important to try to avoid them. Assuage makes two types of seat protectors, including a reusable one and a single-use one. Both offer numerous benefits for travelers of all ages, including that they are:
Lightweight and convenient to carry.
Versatile so that they fit most seats. Plus, it takes mere seconds to put them on the seat. Simply stretch the elastic top over the top of the seat.
Designed to provide an extra layer of protection between people and any germs and viruses that may be on the public seat.
“Not only will an Assuage seat protector give you peace of mind when sitting on public seats, but it can help keep you healthy,” added TJ Wronski, co-founder of Assuage. “Travelers of all ages can benefit from a seat protector, making it an ideal gift, especially this holiday season. That crucial barrier is needed now more than ever before.”
Their Recyclable, single-use seat protector is ideal for those that may not travel frequently or won’t be able to launder their seat protector before their return flight. Once someone is done using it, they can simply drop it and the packaging it came in into a recycling bin. The Recyclable seat protector is $12.95, and comes with two in the resealable package.
The Ultra Cozy, their reusable seat protector, is easy to take care of and can be machine-washed. It’s made from soft, breathable fleece, and is very comfortable. It rolls up nice and neat to be conveniently toted around in the reusable carry bag that comes with it. The reusable bag also keeps it clean when not being used. The Ultra Cozy is $24.95 and comes in three colors, including blue skies, jet black, and sakura blossom pink.
The seat protectors have been designed to fit most seats and takes just seconds to put over it. The elastic around the edges helps hold the seat protector in place, so that it won’t slide around or fall down like a blanket or towel would. They are ideal for anyone who may be in a situation where they will be using public seating, including airplanes, public transportation, waiting rooms, salons, theaters, classrooms, stadiums, rental cars, and more.
Assuage was created by Amelia Gundersen-Herman and TJ Wronski, who reside in Dubai. She is a Pennsylvania native who has a master’s degree in international business. He is a native of the Toronto area and has a master’s degree in business administration. Their U.S. business is centered out of Lewisburg, Pennsylvania, while their Canadian business is centered out of the Toronto area. The company was started out of the necessity for making sure that their family was protected during their heavy commuting and traveling.
About Assuage
Assuage develops products to keep you clean and calm while you travel, commute and live your life in public places. Their seat protectors were designed by frequent travelers which is why they are convenient to pack, quick to set-up, and won’t disrupt anyone around you. All the packaging is recyclable and their products are either recyclable or reusable to have minimal impact on the environment. To learn more about Assuage, visit the site at: https://www.assuagetravel.com/.
Recent Research Shows Peanuts Help Control Glucose Levels Numerous Studies Identify Diabetic Health Benefits of Peanuts and Peanut ButterAlbany, Ga. (November 11, 2020) – In the past three years, new research has found that peanuts and peanut butter can be a powerful tool to help diabetics live a healthier life and prevent the onset of type 2 diabetes in others, according to The Peanut Institute.A recent study conducted by Penn State and published this June in Current Developments in Nutrition found that those with elevated fasting blood sugar who ate a single serving of peanuts (about 1 oz.) as an evening snack had improved blood sugar levels in the morning.1 “Peanuts have a low glycemic index of 14, which helps to prevent spikes in blood sugar, which in turn reduces insulin needs,” says Dr. Samara Sterling, a nutrition scientist and research director for The Peanut Institute. “This new research shows that peanuts can help keep blood sugar stabilized overnight, which is something many diabetics struggle with.” In 2019, the Journal of American Nutrition published research that showed when peanut butter was added to a high glycemic index meal the spike in blood glucose was significantly lower than without the peanut butter. The study authors explained that this effect may be due, in part, to the high protein and healthy fat content of peanut butter.2In fact, peanuts pack more protein than any other nut.3 A single serving of approximately 35 peanuts delivers seven grams of plant-based protein along with fiber and healthy fats. A single serving of peanut butter is two tablespoons. There’s also encouraging news for women who like peanut butter. A landmark study published in 2018 in JAMA (Journal of the American Medical Association) found that women who consumed peanut butter five times a week had a 21% reduced risk of developing type 2 diabetes.4“Peanuts are a superfood and illustrate the concept of food as medicine,” says Sterling. “When you eat peanuts and peanut butter, you’re ingesting three macronutrients -- protein, fiber and healthy monounsaturated and polyunsaturated fats. You’re also getting 19 micronutrients, including niacin, vitamin E and manganese. Regularly choosing foods that contribute to your overall health is a positive action that can deliver life-long benefits.”A 2014 study published in the Journal of Nutrition showed that peanuts contribute to overall health. Itfound that daily consumption of peanuts enriched the American Diabetes Association meal plan and improved blood lipids as well as the levels of vitamin E, niacin and magnesium in participants.5 For additional research findings, visit peanutinstitute.com. For breakfast, lunch, dinner and snack recipes, visit peanutinstitute.com/recipes.# # #Based in Albany, Ga.,The Peanut Institute is a non-profit organization supporting nutrition research and developing educational programs to encourage healthful lifestyles that include peanuts and peanut products. The Peanut Institute pursues its mission through research programs, educational initiatives and the promotion of healthful lifestyles to consumers of all ages. As an independent forum, The Peanut Institute is uniquely positioned to work with all segments of the food industry, the research community, academia, consumer organizations and governmental institutions.Sources:1. Philip Sapp, Kristina Petersen, Penny Kris-Etherton, Fasting Glucose Response to Evening Snacks That Differ by Carbohydrate and Fat Composition: A 6-Week, Randomized, Crossover Trial in Subjects with Impaired Fasting Glucose, Current Developments in Nutrition, Volume 4, Issue Supplement_2, June 2020, Page 1143, https://doi.org/10.1093/cdn/nzaa055_0282. Lilly, L.N., et al., The Effect of Added Peanut Butter on the Glycemic Response to a High–Glycemic Index Meal: A Pilot Study. Journal of the American College of Nutrition, 2019. 38(4): p. 351-357.3. U.S. Department of Agriculture, Agricultural Research Service. 2013, USDA National Nutrient Database for Standard Reference, Release 26. Nutrient Data Laboratory Home Page, http://www.ars.usda.gov/ba/bhnrc/ndl.4. Jiang R, Manson JE, Stampfer MJ, Liu S, Willett WC, Hu FB. Nut and Peanut Butter Consumption and Risk of Type 2 Diabetes in Women. JAMA. 2002;288(20):2554–2560. doi:10.1001/jama.288.20.25545. Wien, M., K. Oda, and J. Sabaté, A randomized controlled trial to evaluate the effect of incorporating peanuts into an American Diabetes Association meal plan on the nutrient profile of the total diet and cardiometabolic parameters of adults with type 2 diabetes. Nutrition journal, 2014. 13: p. 10-10.
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