Gross Profit Percentage for the Quarter ended December 31, 2021 Increased 1% versus Prior Year and 8% versus Prior Quarter Net loss per Share of $(0.31) for the Third Quarter Compared to a Net Loss per Share of $(0.32) for the Prior Year $8.5 Million of Cash and Strengthened Balance Sheet WOODSTOCK, Ga.–(BUSINESS WIRE)–Sonoma Pharmaceuticals, […]

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Upon full deployment, Sphere 3D will be one of the largest carbon neutral bitcoin miners in the world. Sphere 3D enters into an agreement to acquire 60,000 next-generation NuMiner bitcoin miners operating at 440 TH/s for a total capacity of 26.4 EH/s. Sphere 3D previously contracted to purchase 60,000 ANTMINER S19j Pro miners totaling 6.0 […]

The post Sphere 3D to Grow Its Bitcoin Mining Capacity to 32 Exahash Through the Purchase of 60,000 Numiner NM440 BTC Miners appeared first on Fintech News.

SUNRISE, FL, Jan 27, 2022 - (ACN Newswire) - NextPlay Technologies, Inc. (NASDAQ: NXTP), a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, reported that its licensed Longroot digital token offering platform will serve as the financial advisor and underwriter for Ample Health's ('Ample') proposed security token offering (STO).

Ample Health is an emerging cannabis company operating from seed to sale in Southeast Asia. The company is looking to use the proceeds from its STO to fund its development and global expansion.

Longroot will be responsible for structuring the offering and raising the initial capital to fund the STO. This will involve developing the registration statements for all relevant jurisdictions, including preliminary and final prospectuses. It intends to lead Ample through the entire regulatory approval process, and then assist in the pricing and launching the STO through the Longroot portal.

"This Ample Health STO represents a tremendous opportunity for us to represent a major client in the fast-growing global cannabis space," commented Todd Bonner, director of Longroot (Thailand) Limited and chairman of NextPlay Technologies. "Once complete, we believe it will represent the first of many successful STOs for Longroot that we are currently advancing in our pipeline."

Ample Health looks to take advantage of the global cannabis market which is projected to grow at a 32% compounded annual growth rate from $28.3 billion in 2021 to $197.74 billion by 2028, according to Fortune Business Insights.

Akira Wongwan, CEO and co-founder of Ample Health, commented: "We selected Longroot to lead our STO due to its experienced management and well-established presence in the digital offering marketplace, as well as its Thai federal government licensing and oversight. Together, we believe this will ensure a highly-successful STO and the launch of our global cannabis platform."

The proposed offering targets to raise between USD $100-250 million. Longroot will receive a management and placement fee on the proceeds raised due immediately upon closing of the offering, which is expected to occur by the summer of 2022.

Disclaimer

The information included in the press release is for informational purposes only. It is not intended to be, nor should it be construed as, an offer or solicitation for the purchase or sale of any financial instrument, security or digital currency, or as an official confirmation of any transaction. All market information, data and other information included herein are not guaranteed as to completeness or accuracy and are subject to change without notice.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Ample Health and will contain detailed information about the company and management, as well as financial statements.

About Ample Health

Ample Health is an emerging cannabis company operating from seed to sale in Southeast Asia. It is focused on bringing synergy between growers, extractors, retailers and regulators, to help them compete in the domestic and international cannabis market and creating a fair and sustainable industry for all.

About Longroot

Authorized and regulated under global-leading Thai federal digital asset business law and licensed by the Securities & Exchange Commission of Thailand, Longroot (Thailand) Limited provides fully regulated and licensed digital asset financing and investment services for digital assets. Longroot is focused on creating regulated cryptocurrencies used in wholesale travel, real estate and hotels, gaming assets, insurance and digital advertising. As a Thailand-based corporation, Longroot is indirectly controlled by NextPlay Technologies. For more information, go to longroot.co.th.

About NextPlay Technologies

NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company offering games, in-game advertising, crypto-banking, connected TV and travel booking services to consumers and corporations within a growing worldwide digital ecosystem. NextPlay's engaging products and services utilize innovative AdTech, Artificial Intelligence and Fintech solutions to leverage the strengths and channels of its existing and acquired technologies. For more information about NextPlay Technologies, visit www.nextplaytechnologies.com and follow us on Twitter @NextPlayTech and LinkedIn.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "intends," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties including, and not limited to, our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant material adverse impact on the travel industry and our business, operating results and liquidity; current regulation governing digital currency activity is often unclear and is evolving; the future development and growth of digital currencies are subject to a variety of factors that are difficult to predict and evaluate, many of which are out of our control; the value of digital currency is volatile; amounts owed to us by third parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets and penalties we may incur in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; our revenues and results of operations being subject to the ability of our distributors and partners to integrate our alternative lodging rental (ALR) properties with their websites, and the timing of such integrations; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of the Company have the ability to exercise significant influence over the Company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could be harmed; our travel business depends substantially on property owners and managers renewing their listings; if we do not adequately protect our intellectual property, our ability to compete could be impaired; our long-term success depends, in part, on our ability to expand our property owner, manager and traveler bases outside of the United States and, as a result, our business is susceptible to risks associated with international operations; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving ALR, Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of, Longroot and NextBank International (formerly IFEB); the market in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; the fact that we may be subject to liability for the activities of our property owners and managers, which could harm our reputation and increase our operating costs; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by NextPlay are detailed from time to time in NextPlay's periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risk Factors". These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

SOURCE: NextPlay Technologies, Inc.

Company Contacts:
NextPlay Technologies, Inc.
Richard Marshall
Director of Corporate Development
Tel: (954) 888-9779
Email: [email protected]

Ample Health
Akira Wongwan
Founder
Tel: 0869778788
Email: [email protected]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comNextPlay Technologies, Inc. (NASDAQ: NXTP), a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, reported that its licensed Longroot digital token offering platform will serve as the financial advisor and underwriter for Ample Health's ('Ample') proposed security token offering (STO).

We’ve now entered the 46^th straight quarter of biotech IPO activity. New equity issuance for biotech in 2021 has broken records for the amount of capital raised, topping even the strong years of 2020 and 2014.

Although the open and constructive IPO environment continues,  the complexion of these newly-minted public companies is changing relative to earlier in the cycle:

• Younger and earlier. The median time from founding to IPO has gone from 10 years in 2013 to only 4 years in 2021. In the past seven quarters, more than 80% of IPOs were preclinical or Phase 1, nearly the inverse of a decade ago. These are young startups with mostly preclinical or biomarker (vs clinical endpoint) datasets.
• Richer but burning more. Balance sheets for new IPOs are larger than ever, and the median proceeds are up two-fold in the past few years (now $150-200M). Further, they are burning money faster than ever: at least 120 biotechs will burn over $100M this year, up from only 20 or so in 2016.
• More robustly valued. The median IPO valuation is up more than three-fold since the start of this secular bull market for going public: it was ~$150M a decade ago, and is now in the neighborhood of $500M.    

So “getting public” has never been as easy as it is today. 

It used to be the coveted prize, the “brass ring” to go for, which meant you’d made it in biotech. IPOs were considered “exits” and celebrated as rare once-in-a-career events. Today, in a world awash in capital, IPOs are just a step along the journey to bringing drugs to patients, and much more matter of fact steps, as well. They certainly aren’t exits, and, for many, their stage means that even the initial investment thesis has yet to play out (like showing value in a human PoC study, for instance).

For an R&D-heavy, loss-making part of the sector, getting access to the significant pool of public market capital greatly benefits emerging biotech. The dramatically lower cost of capital in the public markets (vs the private market with greedy VCs and their preferred stock) helps biotech startups scale more quickly.

But getting to an IPO is the easy part – being public is hard. 

With the incredibly expanding universe of public biotech names, fighting the crowd to get noticed by the best blue-chip investors is a never-ending struggle.

This is the essence of the “Relevancy Challenge” that many young companies face in their first few years as a public company: become a core position of one or more of the large “brand name” public investors, or get lost in the noise. Be compelling enough for marque investors to want to buy your stock.

Sadly, with this many newly minted public companies, many will find themselves asymptotically approaching, but never achieving, interesting “enough” to become such a core position.

This is what Josh Schimmer at Evercore ISI calls the “Like it, don’t love it” problem facing small and mid-cap biotechs today.  Lots of biotech names have cool technology or interesting drugs, just not cool or interesting enough. Telling a story that breaks through this problem – and becomes compelling enough – is critical for success as a newly-minted IPO.

A few other key lessons about being public from Schimmer, pulled from prior perspectives he wrote over the summer, are worth calling out, including some verbatim quotes:

1. Don’t rest on your laurels as a “successful” IPO. IPOs aren’t the end of the game, or the brass ring noted above, that they once were. You have to keep the fire lit – your first few years running as a public company should almost certainly be more intense than your last two as a private company. “Be aggressive. Hungry teams win”. Don’t cut corners, and do focus on high integrity R&D, but don’t let the team just dream away their mandate to deliver. And don’t let the stock price distract from being hungry; lots of in-the-money options can make teams complacent. “Especially in competitive fields, companies which don’t bring a hunger to move quickly and methodically are at risk of losing investor support”
2. Be disciplined on spending. Or “Don’t be frivolous” in Schimmer’s words.  Burn rates are way up in these markets, which is great for advancing programs but can turn against you with delays and challenges; fixed costs like FTEs and expenses leases can eat into runway quickly. Be adaptable, flexible – and where you can, keep costs variable so you can dial down quickly if need be.
3. Raising money under duress is very hard. Even in “hot” markets, hiccups in R&D can quickly make the cost of capital skyrocket.  Hiccups could be as bad as failed trials, but can also just be delays, noisy data, or even good/bad competitor news. During challenges, stock volatility can make raising even modest amounts of capital incredibly dilutive, transferring future returns from the existing shareholders who helped get you here to new ones taking advantage of the opportunity. As an earlier stage investor, I obviously hate it when this happens.
4. “Easy to fall, hard to recover”.  Gravity in biotech is a constant force, and as my blog tagline says, I consider myself “a biotech optimist fighting gravity.” It’s the constant force that tries to bring valuations lower, and companies have to tirelessly fight against it. Lofty valuations can drop quickly back to earth with bad news, or it can just be the steady gravitational pull of no news at all. Further, once you fall, it’s often hard to recover the mojo in the face of this gravity. Reputation, credibility, and sentiment are all inter-related. Very few “get out of jail free” cards exist in the biotech stock market. High-fliers that blew up because of perceived “bad” management choices can take eons to recover, even with strong data performance, because of team questions. The best answer is never to fall… but that’s a near impossibility over the life of a biotech, so learning how to bounce with a recovery is key.

When I’ve had portfolio companies go public, I often like to remind them – even if the stock popped on the first day – that we’ll very likely go below $10 before we go above $100. Volatility in the journey as a public company is just a ubiquitous feature of the sector.  We also like to say “it’s not a price if you don’t sell” – so if you don’t have to issue stock (or trade) than don’t focus on the day-to-day stock movements. The vast majority of biotechs break their IPO issue price at some point. But the hope is that you can raise capital at steadily higher prices (and valuations) over time to advance the pipeline and accrete value to the business.

To the 150 companies that are less than two years old in the public markets, look to your left and right… who will be the #456’s in the “squid game” of the public markets? Sadly, if history is any indication, many of these companies aren’t likely to have won the public market “relevancy challenge” when we look back 5-10 years from now.  It’s really hard being a public company – so good luck out there!

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