Finance Contract – Glw Drk http://glwdrk.com/ Wed, 06 Jul 2022 05:02:32 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://glwdrk.com/wp-content/uploads/2021/07/icon-1-150x150.png Finance Contract – Glw Drk http://glwdrk.com/ 32 32 City formulates $98 million financing plan to address Colony Park shortfall https://glwdrk.com/city-formulates-98-million-financing-plan-to-address-colony-park-shortfall/ Wed, 06 Jul 2022 05:02:32 +0000 https://glwdrk.com/city-formulates-98-million-financing-plan-to-address-colony-park-shortfall/ Wednesday, July 6, 2022 by Chad Swiatecki City is asking Travis County to contribute $30 million toward development costs of planned Colony Park unit development in northeast Austin, as part of proposed $98.8 million financial package dollars needed to complete the project. A town note released Tuesday outlines several details related to the ongoing development […]]]>

Wednesday, July 6, 2022 by Chad Swiatecki

City is asking Travis County to contribute $30 million toward development costs of planned Colony Park unit development in northeast Austin, as part of proposed $98.8 million financial package dollars needed to complete the project.

A town note released Tuesday outlines several details related to the ongoing development led by Catellus Development Corporation, with more than 1,900 affordable and market-priced homes and apartments, mixed-use retail, office and institutional space, and 53 acres of open spaces expected for the long gestation effort.

A walk resolution asked city staff to create a financing plan to close the estimated $103 million gap for Colony Park, down from the original price of more than $127 million in 2018. The “financing plan possible” of the memo suggests a tax increase reinvestment zone agreement with Travis County for $30 million, a TIRZ city that would capture 50% of possible revenue to generate $40 million, a contribution $18 million from the city’s capital improvement program and $10.8 million from a public improvement district.

City and county staff have been meeting in recent months about the proposed structure of TIRZ, which would span 20 years and allow the county to retain $15 million in maintenance-related tax revenue and to operation.

The city also sent a letter to Travis County and the Austin Transit Partnership requesting participation in the TIRZ, with city staff tentatively scheduled to attend the July 26 meeting of the Travis County Commissioners’ Court to make a presentation. on the development of Colony Park.

Additionally, the Austin Department of Transportation, Austin Water, and the Department of Watershed Protection helped identify capital improvement projects related to or near the Colony Park site. The drainage improvements could receive $6 million in city funding with preliminary engineering and design costs of $500,000 that could come from 2016 transit bond funds.

Staff members are exploring financing options for construction of the Colony Loop Drive Connector, with general bonds, certificates of obligation, and federal and state funding as possible sources. The capital project financing plan is expected to be presented to City Council before the end of the calendar year.

The city is developing strategies to stabilize the areas surrounding the 208-acre site to prevent the displacement of long-time residents as property values ​​in the area increase with the arrival of new residents and businesses. The Department of Housing and Planning will lead programs involving the $300 million in anti-displacement funds approved in 2020 under the Project Connect ballot proposal.

The Austin Housing Finance Corporation has issued a solicitation for nonprofit entities involved in efforts to reduce residential displacement and create “economic mobility” opportunities for those most vulnerable to displacement forces, putting focus on those living within one mile of Project Connect stations and lines and in communities at chronic risk of displacement. The application window for this solicitation closed at the end of June.

The Department of Economic Development and other departments are considering creating a program that would make travel navigators available to those who need help accessing services and opportunities to help them stay in their homes. Workforce Solutions Capital Area is planning an outreach event for the Colony Park area to promote workforce training and placement programs, with Central Health, Austin Community College and Catellus looking for ways to expand opportunities to neighboring communities.

Finally, the memo states that the Colony Park Master Development Agreement is suspended by an amendment to existing PUD plans and the final rezoning of the property. This work is expected to cost $2.6 million, with a viable financing plan needed before the contract with Catellus can go ahead.

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How brands can help turn the tide of plastic pollution in the Caribbean https://glwdrk.com/how-brands-can-help-turn-the-tide-of-plastic-pollution-in-the-caribbean/ Mon, 04 Jul 2022 12:00:00 +0000 https://glwdrk.com/how-brands-can-help-turn-the-tide-of-plastic-pollution-in-the-caribbean/ Our vision is to mainstream effective recycling across islands in the region and enable value-added processing of materials where it makes business sense – but we have been held back by many challenges. For businesses and brands selling in the Caribbean, this is an opportunity to be part of our mission and speak out about […]]]>

Our vision is to mainstream effective recycling across islands in the region and enable value-added processing of materials where it makes business sense – but we have been held back by many challenges. For businesses and brands selling in the Caribbean, this is an opportunity to be part of our mission and speak out about reducing plastic pollution and circularity.

Hot sun; sand beaches; and warm, turquoise waters. It’s what locals, as well as 32 million tourists a year, love Caribbean. But this pristine vision is marred by waste. Tons of that.

The statistics make it hard to read. The Caribbean imports over US$1.8 billion
in products packaged each year, and 10 of the top 30 per capita polluters of single-use plastics in the world are from Caribbean islands. The The Caribbean Sea
is considered the second most plastic contaminated space after the
Mediterranean Seawith plastic waste estimates ranging from 600 to 1,414 plastic items per square kilometer.

Most islands in the region have limited or no sorting and recycling facilities, meaning recycling rates range from 4-10%. This leads to overflowing landfills, illegally dumped or burned waste and trash that ends up in rivers and seas. The consequences are widespread – while plastic pollution in our oceans grabs headlines, it is also damaging the health of islands and the people who live there.

There are a number of reasons why the issue has not been addressed effectively. Established recyclers are undercapitalized; and many are trying to make ends meet in overly political, inefficient and sometimes corrupt waste sectors. They also struggle with low economies of scale, lack of investment in vital infrastructure and high shipping costs. At the government level, policy change is extremely slow and knowledge of recyclables management is limited.

But the larger truth is that many brands that tout their sustainability credentials continue to sidestep responsibility for thousands of tons of plastic going straight to Caribbean landfills. Solving the problem will take more than a few bottle return programs and the occasional ban on single-use plastics.

Establishing effective recycling systems is difficult

As a long-time investor in Caribbean commodity supply chains, we
Windward goods are eager to contribute to the solution. That’s why we founded Caribbean TREATMENTS in partnership with All the Caribbean
— a trader in recycled materials and a consulting firm. Our vision is to integrate efficient recycling in the islands of the region and enable value-added processing of materials where it makes business sense.

In practice, this means providing island-specific sorting and baling equipment and training people to use it, setting up education programs in businesses and schools, and deploying a waste technology solution to track and trace materials to end use. .

But we were held back by a number of challenges.

Investors are risk averse

We created a detailed regional plan, including feedback from recyclers, cruise liners, hotels, supermarkets and shipping companies on material volumes and challenges. We specified and sourced equipment, modeled (ever-increasing) shipping costs, and engaged solid waste management authorities. We were excited. But, despite interest from major development banks, there simply wasn’t enough hard data for them to move investments forward.

And even if that data existed, we were stuck. Everyone recognizes that something has to be done; but no one is willing to take risks in the sector without a major private sector investor to back the minimum loan ticket of over US$20 million demanded by the banks.

Local solutions are not always cost effective

We looked to obtain financing from companies that import and sell huge quantities of products in the region. They were interested in the potential for a profitable operation once it was proven in a pilot. But this interest did not extend to small islands.

Addressing regional challenges effectively requires local solutions, even when they are not commercially attractive. The only way to make this work is through regional investments, and that is not planned at the moment.

Subsidies are a chore

As a high-risk, high-impact opportunity with real potential, applying for funding was our next option. From experience, we know that this is an arduous and opaque process. It takes time and often involves considering complex academic information to satisfy key criteria that have limited practical or commercial value. In one case, we waited over five months to receive a one-line email. We’ve had some success here, but it’s a long process that doesn’t lend itself to agile action.

Urgency is often lacking

We managed to get support for equipment for a pilot project on a small island where there is no recycling. We drafted a contract with the local solid waste management authority and involved a great NGO to carry out sorting and recycling operations on the ground. But after seven months of trying to get the equipment working with the authority, the project stalled. We hope to get it back on track soon, but there is little urgency on the ground from the local government.

Brands can play their part

In the midst of difficulties, there is reason to be optimistic. The main lesson we have learned is that building strong relationships with the private sector is essential. We have started doing this locally, regionally and internationally.

For example, we work with an international hotel chain, whose management team is committed to action. It is a small step on the way to the huge changes needed in education, infrastructure and politics across the region; but one change is often the trigger for many others.

We have found that access to private sector support and independent funding accelerates change, in part because it bypasses local politics and bureaucracy. And once established, recycling facilities are visible and positive additions to communities. They build momentum by attracting business interest and sponsorship and can become centers of engagement and learning.

Where good recyclers exist, we can develop them. Where they don’t, businesses and partnerships can be formed. Solid waste management authorities in the region are keen to work with companies that bring money and experience, as they have little to spare. In return, they keep the flow of material coming, which is vital in an industry where margins are tight and volume is critical.

Despite the challenges, we don’t give up. CARE Caraïbes continues to work to set up simple recycling and sorting operations. But in a region where we often start from scratch, we need investment to make this happen quickly. For businesses and brands selling in the Caribbean, this is an opportunity to be part of our vital mission and speak out about reducing plastic pollution and circularity.

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Coinbase Says It’s Not Selling Customer Data After ICE ‘Geo Tracking’ Contract Surfaces https://glwdrk.com/coinbase-says-its-not-selling-customer-data-after-ice-geo-tracking-contract-surfaces/ Fri, 01 Jul 2022 22:01:49 +0000 https://glwdrk.com/coinbase-says-its-not-selling-customer-data-after-ice-geo-tracking-contract-surfaces/ What is happening Details of a contract between Coinbase and US Immigration and Customs Enforcement have surfaced for the first time. why is it important The agreement includes “historical geolocation data” not available through public sources. Leading cryptocurrency exchange Coinbase has a contract to provide U.S. Immigration and Customs Enforcement, or ICE, data analysis tools […]]]>

What is happening

Details of a contract between Coinbase and US Immigration and Customs Enforcement have surfaced for the first time.

why is it important

The agreement includes “historical geolocation data” not available through public sources.

Leading cryptocurrency exchange Coinbase has a contract to provide U.S. Immigration and Customs Enforcement, or ICE, data analysis tools to help investigate financial crimes, and one of the features offered raises eyebrows.

The deal with ICE was reported last year, but the complete documents surfaced this week via a Freedom of Information Act request from watchdog organization Tech Inquiry, which was initially reported by The Intercept on Wednesday.

The services offered by Coinbase Analytics in the contract include a “blockchain explorer”, “multi-hop link analysis for incoming and outgoing funds” and “transaction unmixing and analysis of protected transactions”. (The company now sells this set of tools to public and private customers like Coinbase Tracker.)

Coinbase also includes a public disclaimer for these services, which states that it “obtains information from public sources and does not use Coinbase user data.”

A number of companies, like Chainalysis and Nansen, provide similar analytics tools that use software to sift through the overwhelming amount of public transaction data on crypto blockchains for everything from execution of due diligence or from researching investment information to tracing money launderers and investigating terrorist financing. .

But there was another feature highlighted in the services Coinbase offered to the federal government that stood out.

Among the list of included services that ICE agents can now apparently access through a Coinbase Analytics web-based platform is “historical geolocation data.”

Most public blockchains do not access geolocation data or store it in transactions. It is therefore unclear how Coinbase would provide this data from public sources.

ICE asserts that the contract complies with all laws, policies and regulations that govern data collection and tracking.

“The contract provides a tool that complements … the ability to investigate deadly opioid traffickers on the dark web and cybercriminals seeking to attack critical infrastructure,” a spokesperson for the company told me. ICE by e-mail. “This tool does not reveal any sensitive personally identifiable information, is referenced only in criminal investigations, and is not used in civil immigration enforcement.”

Coinbase did not immediately respond to a request for comment.

On Thursday, the company posted a response on Twitter, writing:

“We want to make this incredibly clear: Coinbase does not sell proprietary customer data,” adding, “Coinbase Tracer derives its information from public sources and does not use Coinbase user data. Ever.”

The contract with ICE only covers data from 12 blockchains, including Ethereum and all ERC-20 tokens, bitcoin, litecoin, tether, EOS, stellar and ripple. The one-year contract came into effect last August and ends on August 9.

Correspondence included in documentation acquired by TechInquiry.org reveals that the company also billed the US Drug Enforcement Administration and the French National Police for similar tools prior to August 2021.

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NFL joins contract with Black America to bolster economic equality https://glwdrk.com/nfl-joins-contract-with-black-america-to-bolster-economic-equality/ Thu, 30 Jun 2022 13:30:00 +0000 https://glwdrk.com/nfl-joins-contract-with-black-america-to-bolster-economic-equality/ The NFL spent and allocated more $125 million targeting black-owned businesses during the last year, reinforcing its commitment to economic fairness NEW YORK, June 30, 2022 /PRNewswire/ — The National Football League (NFL) today announced its partnership with Contract with Black America Institute (CWBA), an economic inclusion initiative led by an artist and entrepreneur O’Shea […]]]>

The NFL spent and allocated more $125 million targeting black-owned businesses during the
last year, reinforcing its commitment to economic fairness

NEW YORK, June 30, 2022 /PRNewswire/ — The National Football League (NFL) today announced its partnership with Contract with Black America Institute (CWBA), an economic inclusion initiative led by an artist and entrepreneur O’Shea Jackson, also known as Ice Cube. The CWBA and NFL partnership reinforces the NFL’s commitment to increasing economic equity and partnerships with Black-owned businesses.

(PRNewsfoto/Ice Cube)

The collaboration focuses on identifying League-wide opportunities in finance, technology and manufacturing, with a focus on increasing direct and indirect spending to Black national businesses to help to closing America’s racial and economic wealth gap.

“For more than a year, the CWBA Institute has worked closely with the NFL to identify the resources needed to build stronger, more substantive economic partnerships with the Black community,” Ice Cube said. “Our team at CWBA, including my longtime business partner and entertainment attorney Jeff Kwatinetzand Councilors Ja’Ron Smith and Chris Pikerton, are focused on building partnerships with businesses with measurable economic growth results for Black communities across the country. We think it’s a giant step in the right direction.”

Driven by a strong internal commitment to diversifying NFL business partnerships with organizations like the CWBA, the League has spent and allocated $125 million with Black owned and operated businesses such as Ariel Investments, CityFirst/Broadway Bank, Cover Communications and Fearless Technology over the past year.

“City First Bank is delighted to have formed a strategic partnership with the National Football League and Contract With Black America,” said City First Bank President and CEO. Brian Argrett. “This partnership supports and accelerates each organization’s commitment to ensuring minority businesses have access to capital and opportunities to fuel their growth. Partnerships like this are critical to driving equitable economic change within the Black community. as well as to support the growth of City First Bank and other Black-led and owned financial institutions that deploy capital for economic growth and empowerment.”

“Our partnership with CWBA is another reminder that partnering with intentional organizations is critical to everything we do in the League,” the NFL commissioner said. Roger Goodel. “Black businesses play a major role in the economic prosperity of our country. We understand that these businesses haven’t always had the opportunity for exponential growth, so we’re thrilled to have partners like Ice Cube and its organization, CWBA, in an ongoing and collective push toward greater economic inclusion.

Building on its long-standing Business Connect program, which aims to provide minority, women, LGBTQ+ and veteran-owned businesses with Super Bowl & Draft opportunities, the NFL is looking to continue to grow and diversify its suppliers through strategic national partnerships.

Contact:

Jeremy Watkins
JWatkins@hstrategies.com

Quote

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Amarillo Area Public Meetings for the week of June 26, 2022 https://glwdrk.com/amarillo-area-public-meetings-for-the-week-of-june-26-2022/ Sat, 25 Jun 2022 16:52:52 +0000 https://glwdrk.com/amarillo-area-public-meetings-for-the-week-of-june-26-2022/ Monday Potter County Commissioners Court 9:00 a.m.: Commissioners’ Hearing Room, 500 S. Fillmore, Room 106 Consider vouchers; treasurer’s report; review and act in determining and approving Sheriff’s and Constable’s fees for Civil Process Service; review and act with the consent of Potter County for the Tarrant County Cultural Education Facilities Finance Corporation to issue funding […]]]>

Monday

Potter County Commissioners Court

9:00 a.m.: Commissioners’ Hearing Room, 500 S. Fillmore, Room 106

Consider vouchers; treasurer’s report; review and act in determining and approving Sheriff’s and Constable’s fees for Civil Process Service; review and act with the consent of Potter County for the Tarrant County Cultural Education Facilities Finance Corporation to issue funding bonds to fund projects of the Craig Senior Living Facility, a not-for-profit organization, for its lawful purposes; consider and act on a budget amendment to allow the purchase of oil in sufficient quantities for supply through the end of the year; consider and act on the addition of a School Resource Officer for River Road ISD; consider and pursue approval from Marathon Engineering Corp to repair and replace flooring and walls in Violent Cell #1; Purchases of fire rescue equipment; consider and act when adopting a capital asset policy; Salary Grievances Committee for 2022; purchase of equipment for the 47th District Attorney’s Office; review and act on permission to designate the second floor of the Santa Fe building to the Office of the Potter & Armstrong County Public Defender and MAC Office; hear a report on community efforts to secure a publicly funded mental health facility in Amarillo; proposal to increase the remuneration of jurors and to change the method; employment articles; hear reports on the Potter County Projects and the Potter County Detention Center and take any necessary action; executive session, if necessary.

Amarillo City Council

9 a.m. to 4 p.m.: Regency Room, Amarillo Civic Center Complex, 401 S. Buchanan

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Russia heads for default as payment deadline approaches https://glwdrk.com/russia-heads-for-default-as-payment-deadline-approaches/ Fri, 24 Jun 2022 04:00:15 +0000 https://glwdrk.com/russia-heads-for-default-as-payment-deadline-approaches/ Russia could default on its foreign debt for the first time this century as time runs out for a pair of late interest payments blocked by Western sanctions. About $100 million in interest on Russian public debt is due to bondholders by Sunday evening, the end of a 30-day grace period in which the country […]]]>

Russia could default on its foreign debt for the first time this century as time runs out for a pair of late interest payments blocked by Western sanctions.

About $100 million in interest on Russian public debt is due to bondholders by Sunday evening, the end of a 30-day grace period in which the country must make the payments to avoid a default of payment.

Russia said it sent the funds to investors, but financial sanctions imposed on the country following its invasion of Ukraine have hampered Moscow’s ability to access crucial market infrastructure and pay foreign creditors .

The impending default would be Russia’s first since 1998 and comes after the US Treasury closed a sanctions loophole last month that allowed US investors to receive payments from Moscow. Forgoing its debt would be a blow to Russia’s prestige and could trigger legal action by some creditors.

“Russia is heading for sanctions default because it invaded Ukraine and is committing war crimes. . . it’s entirely in his ability to determine what’s going on here,” said Timothy Ash, emerging markets strategist at BlueBay Asset Management.

Russia has plenty of foreign currency due to its huge oil and gas revenues, but international sanctions have cut the country off from the global financial system and complicated its ability to pay foreign bondholders.

Payments originally due on May 27 were sent to Russia’s National Settlement Depository (NSD). It would then typically pass them on to international securities depositories such as Euroclear in Belgium or Clearstream in Luxembourg, which settle transactions for clients. However, the EU sanctioned NSD in early June, preventing Western institutions from receiving payments.

Russian officials, including Finance Minister Anton Siluanov, have repeatedly said Western governments are trying to force the country into an “artificial” default and have constantly sought ways around sanctions, saying Moscow would pay in rubles if dollars could not reach bondholders.

“They can say whatever they want, but a contract is a contract and it clearly states how and when it’s honored,” Ash said. “As a creditor you just want your money back, apologies don’t make sense.”

Russian President Vladimir Putin signed a decree this week establishing a new mechanism to make upcoming ruble payments, including an additional $400 million due Thursday and Friday, and then allowing investors to convert them into foreign currency. Unlike some of Russia’s debts, the terms of these bonds do not contain any provision for making payments in rubles.

Although the sanctions have already left little chance of Moscow returning to international bond markets in the foreseeable future, a formal default could still complicate any attempts to issue debt and increase borrowing costs once the restrictions are lifted. said experts.

For foreign holders of Russian debt, much of the harm has already been caused by the collapse in bond prices that followed the invasion of Ukraine. Tatiana Orlova, chief emerging markets economist at Oxford Economics, said the fact that critical sanctions loopholes have been closed makes it extremely difficult for foreign bondholders to recoup their investments.

Since Russia is likely to default due to sanctions rather than a lack of liquidity, the impact on its population should be minimal. But “it’s going to be seen as a blow to credibility,” Orlova said.

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BioRestorative Therapies Announces Clinical Trial Agreement with Second Site for Company’s Phase 2 Clinical Trial to Treat Chronic Lumbar Disc Disease (cLDD) https://glwdrk.com/biorestorative-therapies-announces-clinical-trial-agreement-with-second-site-for-companys-phase-2-clinical-trial-to-treat-chronic-lumbar-disc-disease-cldd/ Wed, 22 Jun 2022 11:30:00 +0000 https://glwdrk.com/biorestorative-therapies-announces-clinical-trial-agreement-with-second-site-for-companys-phase-2-clinical-trial-to-treat-chronic-lumbar-disc-disease-cldd/ Biorestorative Therapies, Inc MELVILLE, New York, June 22, 2022 (GLOBE NEWSWIRE) — BioRestorative Therapies, Inc. (the “Company” or “BioRestorative”) (NASDAQ: BRTX), a clinical-stage company specializing in stem cell therapies, today announced that it has reached an agreement with its second clinical site for its Phase 2 clinical trial targeting chronic lumbar disc disease (cLDD). The […]]]>

Biorestorative Therapies, Inc

MELVILLE, New York, June 22, 2022 (GLOBE NEWSWIRE) — BioRestorative Therapies, Inc. (the “Company” or “BioRestorative”) (NASDAQ: BRTX), a clinical-stage company specializing in stem cell therapies, today announced that it has reached an agreement with its second clinical site for its Phase 2 clinical trial targeting chronic lumbar disc disease (cLDD). The Center for Clinical Research, located in North Carolina, is the second clinical trial contract executed by BioRestorative.

BioRestorative’s Phase 2 trial is a randomized, double-blind, controlled study to assess the safety and preliminary efficacy of a single-dose intradiscal injection of the company’s investigational autologous stem cell therapeutic treatment, BRTX -100. A total of up to 99 eligible patients will be randomized at up to 15 sites in the United States to receive either the investigational drug (BRTX-100) or the control in a 2:1 ratio.

“With the signing of our second clinical trial agreement, we are delighted to welcome Dr. Richard Rauck as the Principal Investigator of the Clinical Research Center,” said Lance Alstodt, CEO of BioRestorative Therapies. “Dr. Rauck has extensive clinical experience and brings expertise in the field of cell-based regenerative medicine, which is invaluable to a successful clinical trial.”

About BioRestorative Therapies, Inc.

BioRestorative Therapies, Inc. (www.biorestorative.com) develops therapeutic products using cell and tissue protocols, primarily involving adult stem cells. Our two main programs, described below, relate to the treatment of spinal/disc diseases and metabolic disorders:

• Disc/Spine program (brtxDISC™): Our lead cell therapy candidate, BRTX-100, is a product formulated from autologous (or a person’s own) mesenchymal stem cells taken from the patient’s bone marrow. We intend the product to be used for the non-surgical treatment of painful lumbosacral disc disorders or as an adjunct therapy to surgery. The BRTX-100 The production process uses patented technology and involves harvesting a patient’s bone marrow, isolating and culturing bone marrow stem cells, and cryopreserving the cells. On an outpatient basis, BRTX-100 must be injected by a physician into the patient’s damaged disc. The treatment is for patients whose pain has not been alleviated by non-invasive procedures and who are potentially facing the prospect of surgery. In accordance with the authorization received from the Food and Drug Administration, we have started a phase 2 clinical trial using BRTX-100 to treat chronic lower back pain due to degenerative disc disease.

• Metabolic program (ThermoStem®): We are developing a cell therapy candidate to target obesity and metabolic disorders using stem cells derived from brown adiposity (fat) to generate brown adipose tissue (“BAT”). BAT is intended to mimic natural brown adipose deposits that regulate metabolic homeostasis in humans. Initial preclinical research indicates that increased amounts of brown fat in animals may be responsible for additional calorie burning as well as reduced glucose and lipid levels. Researchers have found that people with higher levels of brown fat may have a reduced risk of obesity and diabetes.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements due to various factors and other risks, including, without limitation, those set forth in the Company’s most recent Form 10-K filed with the Securities and Exchange Commission and other public filings. You should consider these factors when evaluating the prospective conditionstatements included herein, and not place undue reliance on such statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update such statements.

CONTACT:
E-mail: ir@biorestorative.com

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Trustees Approve Funding and Award Contract for New Buena Vista Police Station – by Landon James https://glwdrk.com/trustees-approve-funding-and-award-contract-for-new-buena-vista-police-station-by-landon-james/ Sat, 18 Jun 2022 22:40:42 +0000 https://glwdrk.com/trustees-approve-funding-and-award-contract-for-new-buena-vista-police-station-by-landon-james/ On June 14, 2022, the Buena Vista City Board of Directors (BOT) met to discuss the future of several ongoing projects the city oversees. Top of the agenda was an update on the approval of funding for the construction of the new police station and the awarding of the construction contract. The BOT was asked […]]]>

On June 14, 2022, the Buena Vista City Board of Directors (BOT) met to discuss the future of several ongoing projects the city oversees. Top of the agenda was an update on the approval of funding for the construction of the new police station and the awarding of the construction contract.

The BOT was asked if it should approve the passage of Ordinance No. 21, Series 2022, entitled “An ordinance of the city of Buena Vista, Colorado authorizing the execution and delivery of a site lease and a lease-purchase agreement

Buena Vista City Hall. Photo by Henry DeKam

In line with the BOT’s recommendation to continue to seek funding for the new police station, BV City staff partnered with Collegiate Peaks Bank, Stifel Finance, Hoffman, Parker, Wilson and Carberry, and Butler Snow Bond Attorneys to reach a lease-purchase agreement. Alan Matlosz, managing director of Stifel’s Colorado Public Finance Group, spoke to the BOT via Zoom with details of the site lease agreement and funding for the new police station.

Matlosz explained that Order No. 21 is for the approval of $3,100,000 lease financing with Collegiate Peaks Bank in Buena Vista. After a thorough and competitive search for the best financing options, Collegiate Peaks Bank won the bid and provided a 15-year lease at a fixed interest rate of 3.25%. The funding presented to the BOT was for a lease-to-own agreement “whereby the city agrees to lease the building to Collegiate Peaks Bank, receive $3.1 million in proceeds to renovate the building, and then lease the building to the bank for 15 years,” according to a note from Stifel Public Finance.

Law firm Butler Snow has prepared several financing documents for the BOT to review, including the order, site lease, and rental agreement. These three documents contain all the parameters and financial guidelines for the lease of the new police station. Of particular note is that in the lease for the site it is stated that Collegiate Peaks Bank will hold the lease on the property for 25 years, a decade longer than the lease agreement, in order to give the bank more time to recover the loan amount in the “slight chance that the city decides not to appropriate the rent. Once the site lease is paid, the site lease disappears,” according to the Stifel memo.

Trustees said they were pleased with the opportunity to use a local BV bank to support the community in another way through this project and the ordinance was unanimously approved.

Next on the agenda was Resolution No. 45, Series 2022, which approved an agreement with MW Golden Constructors for construction work on the new police station.

Buena Vista City Planning Director Joseph Teipel took the stage to explain the details of the resolution. Teipel explained that the city is awaiting a response from the Department of Local Affairs (DOLA) regarding the acceptance of a $600,000 grant to help fund construction. As of Tuesday evening, the City had not received confirmation or refusal of receipt of the grant.

Meanwhile, Teipel explained, building material prices continue to rise at an exponential rate. In Resolution #45, 2022 Series, Teipel outlines two distinct options for the BOT to consider and implement. The first: a “term contract” with MW Golden Constructors to ensure the acquisition of “long-term materials” so that construction can start as planned on the new police station pending a decision from DOLA.

The second scenario proposes a full contract with MW Golden Constructors in case the DOLA grant is not awarded to the city. Teipel explained that if the $600,000 DOLA grant is awarded to the city, the money would be allowed to “pay expenses that were incurred, or under contract, prior to the date a full grant contract is executed at the times by the city and the state”. In order to operate most efficiently, the new police station must be at least 8,400 square feet in size to operate safely and in compliance; however, Teipel and the city hope build a 10,000 square foot expansion eventually Teipel said the goals of this building plan are to provide a “forever home” for the Buena Vista Police Department.

If administrators approve either construction option, the proposed start date would be July 11, 2022, with a nine-month “construction window” and expected completion in April 2023. However, Teipel notes , the construction window could be significantly reduced if critical materials can be acquired faster than expected.

Moving forward, Teipel presented two scenarios for the BOT to consider. Scenario 1 (Exhibits A2 and B of the futures contract) would require approval of $961,673, allowing essential workers, subcontractors and construction to start on schedule and continue until that DOLA received word, in which case the contract with MW Golden Constructors would still be within parameters to satisfy DOLA grant requirements. If no word was heard from DOLA, Scenario 2 (exhibits A1 and B of the full contract) would authorize a full construction contract with MW Golden Constructors for the sum of $4,070,238. A proposal was also made to amend the current budget from $4,460.00 to $5,787,158.

A motion was made to pass Resolution #45 with Scenario 1 Forward Contract Exhibit A2 & B which the directors unanimously passed in an effort to meet the construction schedule and avoid, as much as possible, pay higher costs for building materials in the future while awaiting word on the DOLA price.

Shining Mountains Montessori School Update

Lisa Lamb, homeroom teacher and principal of The Shining Mountains Montessori School, took to the podium to update the BOT on the progress of her newly opened school located in the historic chapel at 343 US 24 South. After extensive renovations and upgrades to the 140-year-old building, including a new water heater and welcome sign, Lamb thanked the support of the City of BV for helping turn a decaying chapel into a center of brilliant learning.

“It’s become a beautiful little Montessori school,” beamed Lamb.

Phillip Puckett called the collaboration with The Shining Mountains Montessori and the City of BV a “tremendous partnership” and was proud to see Lamb take to heart the historical significance of one of BV’s oldest surviving buildings. The Shining Mountains Montessori School currently provides employment for over 30 families and plans to have its official ribbon cutting at the school next Wednesday, June 22. Lamb said the event is open to the public and encouraged everyone to join in the celebration.

Liquor license fees apply

Next on the agenda was a public hearing for the acquisition of a hotel and liquor license for Miana BV, an LLC doing business as Bread + Salt BV. A stop work order had been issued by the city because Michael Ulelha, owner of Bread + Salt, had failed to pay the proper fees to the city and county of Chaffee when his application for a hotel and restaurant license was submitted.

Ulelha appeared before the BOT and pleaded for forgiveness and pardon, claiming the failure to comply was his ignorance of the process, and fell solely on his shoulders. The BOT explained that once the appropriate fees and applications are submitted, it can take two to five weeks to receive approval.

Upon further inspection, it was found that Ulelha owned several other restaurants in Frisco and Breckenridge. But when asked if he was unaware of the proper procedures for applying for a hotel and liquor license, and if he had encountered these issues before with his other restaurants, Ulelha said he t was the first time he had struggled to acquire these licenses. As of June 14, the day of the trustees’ meeting, Ulelha had paid the required municipal fee, but still had not paid the Chaffee County liquor license fee. Until the fees are paid and the proper procedures are followed, the city will not and cannot issue the hotel and liquor license.

Other items of note at the BOT meeting included the proposed renaming of several roads leading to the Buena Vista airport to reflect a more aeronautical theme and updates on fundraising efforts for the new facility for boys and girls. During personnel updates, City Administrator Phillip Puckett informed the BOT of the ongoing job search for his replacement as he transitions to City Treasurer. At the time of the meeting, nine candidates had thrown their hats into the ring with the June 15 application deadline fast approaching. Puckett explained that the list of nominees would remain secret until the finalists were approved.

The next board meeting is scheduled for Tuesday, June 28.

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Wellbeing Digital Sciences Announces Third Quarter Financial Results https://glwdrk.com/wellbeing-digital-sciences-announces-third-quarter-financial-results/ Thu, 16 Jun 2022 22:44:17 +0000 https://glwdrk.com/wellbeing-digital-sciences-announces-third-quarter-financial-results/ VANCOUVER, British Columbia, June 16, 2022 (GLOBE NEWSWIRE) — Wellness Digital Sciences Inc. (“Welfare“or the”Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental health care company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapies supported by clinical research, that it filed its unaudited financial results for […]]]>

VANCOUVER, British Columbia, June 16, 2022 (GLOBE NEWSWIRE) — Wellness Digital Sciences Inc. (“Welfare“or the”Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental health care company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapies supported by clinical research, that it filed its unaudited financial results for the third quarter ending April 30, 2022 and provided an update on its activities.

“2022 will be a foundational year that will set the stage for Wellbeing to execute its strategy going forward,” said Najla Guthrie, Managing Director of Wellbeing. “We are focused on developing and expanding our management team, completing additional clinical and digital acquisitions, and evaluating strategic capital markets opportunities to create shareholder value. As we build on the three fundamental pillars of our success, drug development, digital therapy and our North American clinical network, we are focused on developing and implementing effective mental health therapies for a grassroots growing number of patients.

Company updates during and after Q4 2021:
Appointment of Terry Zimaro as Chief Financial Officer – Mr. Zimaro is a Chartered Professional Accountant who brings over 20 years of experience in public and private companies across a wide range of finance functions, particularly specializing in high growth environments, across various industries including psychedelics. It has enabled companies to maximize profitability, operational efficiency and enterprise value. Terry joins our team at an exciting time for the Society. His extensive financial experience, combined with his strong leadership skills will allow him to have an immediate impact on our business. As Chief Financial Officer, Terry is another key strategic addition to our team and we look forward to seeing his impact on the company’s business strategy and growth opportunities.

Founding member of the Women in Psychedelics Network – The formation of WIP aims to have a long-term impact on the psychedelic space, bringing together a diverse group of women in this space and to be a voice for all women in the future regarding their developments, their achievements and their challenges. Sharing information, expertise, and collaboration are some of the many things that the founders of WIP believe will help advocate for and represent women who are part of the psychedelic medicine industry. WIP will seek to recruit health representatives, scientists and business leaders, as well as sponsorships from companies that may not be run by women but support WIP.

Welcome Dr. Ho as the new Medical Director of MindScape – Since Wellbeing purchased MindScape on April 21, 2021, the clinic has administered more than 600 low-dose ketamine infusions to patients, which the company considers a milestone. Wellness is evaluating the addition of complementary mental health services offered to the clinic’s patients. The company has also recently implemented a new marketing strategy and intends to expand the local patient base by connecting with area mental health practitioners who have recognized the potential for offsite use. MA of ketamine in the treatment of mood disorders. Ketamine appears to have antidepressant and antisuicidal effects, and according to recent studies, the potential for ketamine to treat mood disorders like bipolar is considered quite promising.

Financial Highlights (all amounts are in Canadian dollars unless otherwise indicated)

  • Revenues for the nine-month quarter ended April 30, 2022 reached $5,280,640, compared to $nil for the same prior year period, primarily due to the transition from an investment issuer to a corporate single-purpose business focused on consolidating clinics and becoming a North American leader in mental health treatment;
  • Gross loss for the quarter ended April 30, 2022 was $150,648 compared to $nil for the same prior year period due to cost of goods sold slightly higher than sales for the period of nine month ended;
  • Net loss for the quarter ended April 30, 2022 was $21,149,109, compared to net loss of $4,905,255 reported for the same prior year period, primarily due to share-based payments from $13,945,132 (2021 – $2,087,678), general and administrative expenses of $1,575,930 (2021 – $41,521), marketing expenses of $1,522,853 (2021 – $nil) and professional fees of 2 $225,604 (2021 – $328,806).
  • Total assets for the quarter ended April 30, 2022 decreased by 19% to $17,714,820 from $21,921,195 for the year ended July 31, 2021 primarily due to a decrease in cash and cash equivalents and the amortization of certain non-current assets.

The full set of consolidated financial statements and MD&A can be viewed by visiting its profile page on SEDAR at www.sedar.com.

About the digital science of wellbeing
Wellbeing Digital Sciences Inc. is an evidence-based mental health care company focused on the development and implementation of innovative clinical treatment solutions, including psychedelic medicine and digital therapy, supported by clinical research. Its mission is supported by a network of North American clinics that provide cutting-edge therapies and other types of treatment to patients, as well as a contract research organization that offers clinical trial services to clients pursuing drug development. For more information, please visit digitalwellness.co.

Behalf:

Najla Guthrie
Chief executive officer
DIGITAL SCIENCES OF WELL-BEING

For more information, please contact:
Nathalie Dauphin
Vice President of Marketing and Investment Relations
Email: ir@wellbeingdigital.co
Twitter: @Wellbeing_IR

Notice regarding forward-looking information:

This press release contains forward-looking statements, including, but not limited to, statements regarding the Company’s business, assets or investments, and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous known and unknown assumptions, risks and uncertainties, both general and specific, which contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not be achieved, which may cause performance and results in future periods to differ materially from any estimate or projection of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and of the financial markets in particular, the interest of investors in the activities and the prospects of the Company.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless the applicable securities law requires it. Further, the Company assumes no obligation to comment on expectations or statements made by third parties regarding the matters discussed above.

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Estimated taxes are due tomorrow. How to calculate them and where to pay https://glwdrk.com/estimated-taxes-are-due-tomorrow-how-to-calculate-them-and-where-to-pay/ Tue, 14 Jun 2022 17:00:14 +0000 https://glwdrk.com/estimated-taxes-are-due-tomorrow-how-to-calculate-them-and-where-to-pay/ This story is part Taxes 2022CNET’s coverage of the best tax software and everything you need to file your return quickly, accurately and on time. What is happening Since contract workers do not have taxes withheld from their wages, the IRS requires estimated tax payments four times a year. why is it important It is […]]]>

This story is part Taxes 2022CNET’s coverage of the best tax software and everything you need to file your return quickly, accurately and on time.

What is happening

Since contract workers do not have taxes withheld from their wages, the IRS requires estimated tax payments four times a year.

why is it important

It is important to pay estimated taxes to avoid tax penalties when filing your tax return.

And after

The next estimated due date is June 15, 2022.

If you have a traditional hourly or salaried job, your employer likely withholds taxes from every paycheck. But if you’re one of the millions of small business owners, freelancers, side hustlers and other self-employed taxpayers, there is no automatic withholding tax mechanism. But that doesn’t mean you won’t owe them spring tax season.

Anyone whose income is not taxed must pay estimated taxes throughout the year. This will minimize your financial burden on tax day and also help you avoid penalties from the IRS.

The estimated tax reporting process can be a bit complicated, but we can make it simple. Here’s everything you need to know to calculate your taxes and file your return on time.

What are the estimated taxes?

If you earn or receive income that isn’t subject to federal tax withholdings throughout the year — secondary income or income from rental property, for example — you’ll pay as you go. with estimated taxes. Estimated tax is a quarterly payment based on your earnings for the period. Essentially, Estimated Tax allows you to prepay a portion of your income tax every few months to avoid paying a lump sum on tax day.

Who has to pay the estimated taxes?

If you have completed the IRS Form W-4, which provides instructions to your employer on how much to deduct from each paycheck, you may not have to pay estimated taxes. If you’re not a salaried W-4 employee, however, you should probably keep estimated tax payments on your radar. According to the IRS, you must pay estimated taxes if you expect to earn at least $1,000 in 2021 and your type of employment falls into one of these categories:

  • Independent contractor or freelancer
  • sole proprietor
  • Partner
  • Shareholder of company S

There are other sources of income that fall under the estimated tax umbrella, including:

  • Dividends and interest earned on sales of investments
  • Royalties for previous work
  • Owner’s rental income
  • Pension
  • Unemployment benefits
  • Retirement benefits
  • Social security benefits, if you have other sources of income
  • Prizes and Awards

You may also have to pay estimated taxes as a full-time employee if your employer does not deduct enough from your salary. To update your W-4 with the correct withholding amount, use the IRS Withholding Tax Estimator Toolfill in a new one W-4, Employee Withholding Certificate form and give it to your employer.

Estimated taxes are due whether you are paid by direct deposit, check or digital payment services like PayPal, CashApp, Zelle or Venmo. Note: While you should already pays tax on that income, a new rule under the US rescue plan requires third-party payment networks to report payments of $600 or more to the IRS.

When are estimated taxes due?

Estimated taxes are paid quarterly, usually on April 15, June, September and January of the following year. A notable exception is when the 15th falls on a holiday or weekend. In these cases, you must file your return no later than the next business day.

The deadlines for the 2022 provisional taxes are shown in the table below.

Estimated tax deadlines

Earning period

Taxes due

Sept. 1 to Dec. 31 2021

January 18, 2022

Jan. 1 to Mar. 31, 2022

April 18, 2022

April 1 to May 31, 2022

June 15, 2022

June 1 to August 31, 2022

September 15, 2022

Sept. 1 to Dec. 31 2022

January 16, 2023

How to calculate estimated tax payments?

There are several ways to calculate your quarterly tax payments depending on your business model and your annual income.

  • If you earn a stable income, estimate the tax you will have to pay for the year and send a quarter to the IRS each quarter. For example, let’s say you will earn $80,000, which puts you in the 22% marginal tax bracket. You will owe $17,600 in federal taxes or $4,400 each quarter in 2022.
  • If your income varies throughout the year, you can estimate your tax burden based on your income and deductions from the previous quarter. Theirs Estimated Tax Worksheet can help you do the math.

If you have overestimated your earnings at the end of the year, you can complete a 1040-ES form to receive a refund or apply your overpayment to future quarterly taxes. If you underpaid, the form can help you calculate what you still owe.

How do I pay my estimated taxes?

When you file your estimated taxes, use the 1040-ES IRS tax form or the 1120-W form if you are filing as a company. You can complete the form manually using the included worksheets, or you can rely on your favorite tax software or a tax advisor to guide you through the process and get the job done. From there, you can pay your federal taxes by mail or online through the IRS website. You’ll also find a full list of accepted payment methods and options, including installment plans.

Do I also have to pay estimated state taxes?

It depends. If you live in one of the few US states with no income tax, your liability ends with the estimated federal taxes we discussed. However, if your state levies income taxes, you will make estimated tax payments using the same timelines as for federal taxes. Visit your state’s Department of Revenue website or consult your tax advisor or tax software service for more personalized information.

What are the penalties if I don’t pay my estimated taxes?

It’s a good idea to post a calendar reminder as the quarterly deadline approaches to avoid paying a late penalty. You may be charged a penalty if:

  • You forgot to pay the estimated taxes or your payment was less than 90% of the amount of taxes due.
  • In some cases you too much paid.

If you want to learn more about the estimated tax penalties and the conditions for an exemption, see the instructions in IRS Form 2210.

Can I avoid paying estimated taxes?

Probably not without incurring these penalties. Certain categories of workers – in particular those whose Income is exceptionally modest, inconsistent or seasonal – are exempt from having to make quarterly payments to Uncle Sam, however:

  • If your net income was $400 or less for the quarter, you don’t have to pay any estimated taxes, but you still have to file a tax return even if no taxes are due.
  • If you were a U.S. citizen or resident alien for all of 2020, your total tax was zero and you did not have to file a tax return
  • If your income fluctuates significantly throughout the year (if you run a seasonal business, for example), you may be able to reduce or eliminate your estimated tax payments through an annualized tax installment method. Refer to the IRS Worksheet 2-7 to see if you qualify.
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