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Neonode Reports Quarter Ended September 30, 2024 Financial Results

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STOCKHOLM, Nov. 6, 2024 /PRNewswire/ — Neonode Inc. (NASDAQ: NEON) (“Neonode” or the “Company”) today reported financial results for the three and nine months ended September 30, 2024. The financial results relate to continuing operations, which means Neonode’s licensing business as the products business has been reclassified to discontinued operations, following the decision in Q4 2023 to focus solely on the Company’s licensing business.

FINANCIAL SUMMARY FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2024

Revenues from continuing operations of $0.8 million, a decrease of 0.2% compared to the same period in the prior year.        Operating expenses from continuing operations of $2.0 million, a decrease of 2.7% compared to the same period in the prior year.     Net loss from continuing operations of $1.0 million, or $0.07 per share, compared to $1.1 million, or $0.07 per share, for the same period in the prior year.    Cash used by operations of $1.3 million compared to $1.8 million for the same period in the prior year.       Cash and accounts receivable of $18.6 million as of September 30, 2024 compared to $17.1 million as of December 31, 2023.

FINANCIAL SUMMARY FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024

Revenue from continuing operations of $2.5 million, a decrease of 21.0% compared to the same period in the prior year.        Operating expenses from continuing operations of $7.2 million, an increase of 2.9% compared to the same period in the prior year.           Net loss from continuing operations of $4.4 million, or $0.28 per share, compared to $3.5 million, or $0.22 per share, for the same period in the prior year.          Cash used by operations of $4.4 million compared to $4.1 million for the same period in the prior year.

BUSINESS HIGHLIGHTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024

Several ongoing discussions with potential customers regarding Touch Sensor Module (“TSM”) technology and the MultiSensing® platform.TSM technology agreement with NEXTY Electronics, an electronics-trading company within the Toyota Tsusho Group, for sensor development and manufacturing of the next-generation amusement machines for a leading manufacturer in Japan’s amusement market.TSM technology agreement with YesAR to develop and build holographic infotainment solutions for its customers in the automotive and elevator segments, as well as other market segments.

“Our revenues from the continuing licensing business decreased in the third quarter of 2024 compared to the same quarter last year. However, non-recurring engineering revenues related to our new lines of business increased and were mainly attributable to the driver monitoring system (“DMS”) project with the original equipment manufacturer (“OEM”) of commercial vehicles customer that we announced at the end of last year. Licensing revenues from legacy customers within printer and passenger car touch applications decreased compared to the same quarter last year, mainly due to lower demand for their products. Cash used by operations decreased in the third quarter 2024 compared to the same quarter last year, as we discontinued component purchases after phasing out TSM manufacturing,” said Fredrik Nihlén, Neonode’s interim President and CEO and CFO.

“We remain positive toward the prospects of generating new projects and business with our driver and in-cabin monitoring solutions, which continue to generate positive attention from OEMs and suppliers to the automotive industry. Our flexible and scalable approach to driver and in-cabin monitoring presents manufacturers and their suppliers with a cost-effective and efficient platform for securing compliance and automotive innovation for years to come. We also see a growing market interest in licensing our cost-effective and proven touch interaction solutions,” concluded Mr. Nihlén.

FINANCIAL OVERVIEW FOR THE QUARTER ENDED SEPTEMBER 30, 2024

Revenues from continuing operations for the quarter ended September 30, 2024 were $0.8 million, a 0.2% decrease compared to the same period in 2023. License revenues were $0.7 million, a decrease of 12.6% compared to the same period in 2023. The decrease was mainly due to lower demand for our legacy customers products within printer and passenger car touch applications offset by revenues from our new licensing customers.

Revenues from non-recurring engineering for the third quarter of 2024 were $0.1 million, a 2,575.0% increase compared to the same period in 2023, mainly attributable to the DMS project with the commercial vehicle OEM customer that was announced at the end of 2023.

Our operating expenses from continuing operations decreased by 2.7% for the third quarter of 2024 compared to the same period in 2023, primarily due to lower payroll and related costs offset by higher professional fees and advertising costs.

Net loss from continuing operations for the third quarter of 2024 was $1.0 million, or $0.07 per share, compared to a net loss of $1.1 million, or $0.07 per share for the same period in 2023.

Cash used by operations was $1.3 million in the third quarter of 2024 compared to $1.8 million for the same period in 2023. The decrease was primarily due to the absence of component purchases following the phaseout of TSM manufacturing.

Cash and accounts receivable totaled $18.6 million and working capital for continuing operations was $17.7 million as of September 30, 2024, compared to $16.1 million and $16.8 million as of December 31, 2023, respectively. Our financial position and liquidity provide stability and enable us to execute our strategy to secure more licensing opportunities for our innovative technologies.

CONTACT:

Interim President and Chief Executive Officer and Chief Financial Officer
Fredrik Nihlén
E-mail: fredrik.nihlen@neonode.com
Phone: +46 703 97 21 09

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TESSAN Teams Up with One Tree Planted to Launch Global Tree Planting Initiative

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SHELBURNE, Vt., Dec. 24, 2024 /PRNewswire/ — The leading charging solution provider TESSAN has announced a new initiative to plant 10,000 trees across the United States and beyond. Through its collaboration with One Tree Planted, a non-profit organization dedicated to global reforestation, TESSAN showcases its long-term commitment to environmental sustainability and climate action as a climate-friendly brand.

Alex, the CEO of TESSAN, emphasized the brand’s dedication to fostering meaningful connections, not only between people and places but also between humanity and the planet. “We are excited to join One Tree Planted to make contribution to global reforestation,” said Alex. “Our journey at TESSAN is not just about creating innovative charging solutions. It is about establishing meaningful connections, and planting trees is one of the most direct actions to forge this bond. Through our collaboration with One Tree Planted, we aim to strengthen our connection with the Earth and encourage travelers using our products to seize every opportunity to engage in climate action, truly exploring the world and building a green connection with the planet.”

One Tree Planted is committed to global tree planting and forest restoration efforts. The organization operates with a mission to engage transparently and effectively in worldwide forest conservation by planting one tree for every dollar donated. Their initiatives span the globe, striving to enhance ecosystem sustainability.

The shared vision between TESSAN and One Tree Planted has brought their collaboration to reality. TESSAN consistently prioritizes its responsibility to protect and maintain resources for future generations. In August, TESSAN received ClimatePartner certification, elevating its dedication to sustainability by assessing the carbon footprint of its products, setting targets for emission reduction, and persistently striving to meet these objectives.

Even before this certification, TESSAN has been dedicated to reducing carbon emissions by integrating sustainability principles throughout its product lifecycle. The company promotes a low-carbon lifestyle, encouraging eco-friendly practices in product development and employee habits.

Moreover, in partnership with ClimatePartner, TESSAN has backed a biogas initiative in Nepal, effectively neutralizing 386 tons of CO2 equivalent. This project transforms cow manure combined with water into biogas via anaerobic digestion, substituting firewood for cooking and aiding in the reduction of deforestation.

TESSAN has long championed climate action within the travel charging industry. Its sustainability efforts encompass eco-friendly product designs crafted from recycled and biodegradable materials, green manufacturing processes that prioritize energy efficiency and waste reduction, and sustainable packaging made from environmentally friendly materials. The company also emphasizes transparency in its supply chain to encourage responsible sourcing practices.

TESSAN’s brand philosophy, “The Journey Begins at Home,” underscores the importance of protecting and preserving the planet as it is everyone’s home. Through compact product designs, minimalist packaging, and the use of renewable materials, TESSAN is dedicated to promoting the belief in “Charging for a Greener Future” to travelers around the globe. With a global user base exceeding 20 million, the brand’s vision of a climate-friendly journey continues to gain widespread acceptance.

About TESSAN

TESSAN, a trusted partner in charging solutions, is committed to enriching experiences both at home and during travel. The brand offers a wide array of products, including multifunctional power strips, travel adapters, wall extenders, and smart home devices. Supported by a robust R&D and production team, TESSAN develops innovative socket products for users across the globe. With the trust of over 20 million users, TESSAN empowers their journeys from home to every destination, promoting environmentally conscious electricity usage.

For more information, visit www.tessan.com or the TESSAN Amazon store, and follow TESSAN on Facebook, Instagram, and YouTube.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tessan-teams-up-with-one-tree-planted-to-launch-global-tree-planting-initiative-302338830.html

SOURCE TESSAN

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Passive Bitcoin Income: The Best Cloud Mining Platforms for Reliable Earnings

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A guide to short-term Bitcoin mining, featuring BitFuFu, ZT Mining, and Hashing24 for flexible contracts and quick profits.

READING, England, Dec. 24, 2024 /PRNewswire-PRWeb/ — Engaging in bitcoin mining presents an accessible and potentially lucrative venture for those intrigued by digital currencies but reluctant to endure the complexities and long timelines associated with traditional investment routes.

Short-term mining contracts are popular among beginners as they look to improve their understanding of the market. These contracts range from as brief as a day to several months, offering immediate entry into the mining scene without the long-term entanglements.

The appeal of short-term bitcoin mining is magnified by the ease of access to these services. Legit cloud mining platforms give individuals the opportunity to lease mining power remotely and eliminate traditional obstacles such as acquiring and maintaining hardware. Investors simply select a mining plan that aligns with their financial objectives and risk tolerance, and the platform handles the operational complexities

BitFuFu Cloud Mining

BitFuFu offers a diverse range of contracts, from short to medium-term, tailored to different risk appetites and investment levels. For those looking for quick, low-risk ventures, the Easy Mining plans range from 3 to 50 days, with a starting investment as low as . These plans are ideal for newcomers wanting to dip their toes in mining without significant upfront costs. For example, the Easy Mining 3 Days plan, with an estimated acquisition cost of 5,602.2, starts investments at , promising a low-risk and low-return profile.

On the other hand, BitFuFu’s Pro Mining contracts target more seasoned miners looking for higher returns, albeit with higher risks. The Pro Mining S19 XP 30 Days plan, for instance, boasts a 107.48% return, indicative of the lucrative possibilities for those willing to invest more heavily in their mining endeavors.

ZT Mining

ZT Mining lets you mine over ten different cryptocurrencies like Bitcoin, Dogecoin, Monero, and Zcash. This means you can pick and choose and not just stick to one kind, making it fun to try out different ones. They also make sure everything is super safe. They use special security to protect your information and have strong defenses against online attacks, so everything runs smoothly without any interruptions.

ZT Mining is really cool because it has lots of different mining contracts that can last just a day or even longer, so you can see how much money you can make in a short time or a bit longer. They have a special starter package for only $35, and it’s just for one day. If you try this, you’ll get $36 back the next day, which means you make a $1 profit.

That’s pretty awesome for just a day’s work, right? Plus, if you feel like going bigger, they have longer plans where you can earn a lot more money, like the 15-day plan for mining Dogecoin that can make you thousands in profit!

Hashing24

Hashing24 makes it easy to get into bitcoin mining with its straightforward contracts that last anywhere from 3 to 24 months. Every contract has a steady hash rate of 60 MH/s, perfect for those who want a predictable and simple mining experience.

For those just starting out or looking for a short-term investment, Hashing24’s 3-Month Plan is a great entry point. It’s priced at $22.20 and offers an estimated mining return of $22.21, essentially allowing you to make back your initial investment quickly. It is ideal for testing the waters of cloud mining without committing to a long-term plan.

Investors aiming for substantial long-term gains will find the 24-Month Plan an excellent option. Priced at $111.60, it offers a projected return of 159%, appealing to those prepared to commit to a longer investment period for significant earnings.

Conclusion

Picking the right cloud mining platform is super important if you want to make money with Bitcoin without doing much work. Platforms like BitFuFu, ZT Mining, and Hashing24 have different plans that last for various times and cost different amounts of money. This means you can find one that fits what you’re comfortable with, whether you’re just getting started with cryptocurrency or you want to make a lot of money. By choosing the best plan for you, you can make your money work for you and watch as it grows over time.

Media Contact

Nancy.Delia, ZT CLOUD SERVICES LIMITED, 44 7301463290, support@ztmining.com, https://ztmining.vip

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SOURCE ZT Mining

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CATL Launches the Bedrock Chassis That Withstands 120 km/h Impact Without Catching Fire or Exploding

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NINGDE, China, Dec. 24, 2024 /CNW/ — On December 24th, CATL officially launched the CATL Bedrock Chassis, the world’s first ultra-safe skateboard chassis. With its outstanding performance of withstanding 120 km/h frontal impact without catching fire or exploding, CATL’s Bedrock Chassis sets a new standard for intelligent chassis safety, providing comprehensive protection across all scenarios and speed ranges.

Lead the industry with the most stringent safety tests

With the battery-centered design, CATL’s Bedrock Chassis utilizes Cell-to-Chassis integration technology, which directly integrates the battery cells into the chassis, allowing for a shared structural design between them. And based on the decoupling of the chassis from the upper body, the Bedrock Chassis is capable of absorbing 85% of the vehicle’s collision energy (compared to around 60% absorbed by traditional chassis).

Through various technological breakthroughs, the Bedrock Chassis successfully passed the world’s first “highest speed + strongest impact” dual extreme safety test. This achievement enables the chassis to pass the 120 km/h frontal central pole impact test without catching fire, exploding or thermal runway, redefining the benchmark for safety in the industry.

Currently, the speed for frontal impact safety test in the commonly used C-NCAP (China New Car Assessment Program) is 56km/h, which, when experiencing a frontal impact at this speed, generates collision energy equivalent to falling from 12-meter-high building. In comparison, a frontal impact at 120km/h is equivalent to falling from a 56-meter-high building, generating a collision energy 4.6 times that of collision at 56km/h.

In more stringent frontal pole crash tests, which simulate crashes with non-standard objects such as power poles, large trees, or animals, the impact area is only 1/6 of that in a full-width frontal impact, exponentially increasing impact pressure. At a speed of 120km/h, the impact pressure on the chassis per unit area in a frontal central pole impact is 21 times that of the 56 km/h full-width frontal impact in C-NCAP testing.

Due to the extremely high crash speed and intensity, there has been no previous instance of any new energy vehicle daring to challenge a 120km/h frontal pole impact test. With this extreme challenge, CATL’s Bedrock Chassis has blazed a fresh trail for the industry.

Open the era of ultra-safe transportation through three technological breakthroughs

CATL’s Bedrock Chassis has delved deep into the realm of structure and material innovation, leveraging three technological breakthroughs to provide unparalleled protection in all scenarios and speed ranges, ensuring rock-solid safety for the entire vehicle.

The CATL Bedrock Chassis introduces a revolutionary three-dimensional biomimetic tortoise shell structure, where the body and energy unit framework are integrated, deeply coupled to provide the energy unit with indestructible protection. And its aircraft carrier-grade arresting structure disperses impact forces across multiple pathways during a crash, gradually decelerating the vehicle and significantly reducing the depth and speed at which obstacles intrude the cabin. The utilization of submarine-grade hot-formed steel with a strength of 2000MPa, aerospace-grade aluminum alloy with a strength of 600MPa, and multiple barrier structures further enhance the chassis’ rigidity, making it virtually impervious.

Moreover, the CATL Bedrock Chassis incorporates an ultra-safe battery cell design, NP technology, and a high-ductility energy-absorbing insulation film, leading the industry in a groundbreaking manner. In terms of high-voltage disconnection, it achieves instantaneous disconnection of high voltage circuit within 0.01 seconds of impact and completes the discharge of residual high-voltage energy in the vehicle within 0.2 seconds, setting a new industry record.

Notably, the battery cells have undergone highly demanding tests, including high-speed sled impact tests at 60 km/h, 90-degree bending tests, and breakthrough sawing tests, the battery did not catch fire or explode across all three tests. These tests, all industry-firsts by CATL, have elevated the safety standards of battery cells to new heights.

Unlocking the era of customization, and activating a trillion-yuan market

The launch of the Bedrock Chassis not only redefines the standard for intelligent chassis safety but also activates a trillion-yuan market. It greatly accelerates the shift towards modular, personalized, and intelligent automotive design.

Addressing the common pain points of high investment, long development cycles, and accelerated product iteration in the industry, the Bedrock Chassis incorporates three core characteristics: internal integration, decoupling of the chassis from the upper body, and external openness. With a rich array of toolkits and solution packages, it offers a scalable software and hardware architecture and standardized interfaces, enabling flexible configurations for different vehicle models and scenarios. This allows the realization of a “one chassis architecture, multiple vehicle models” concept and significantly improves development efficiency and shortens the R&D cycle. The time required for mass production of a vehicle is reduced from the traditional 36 months or longer to 12 to 18 months.

Furthermore, the Bedrock Chassis breaks the limits of safety and modeling, and expands design flexibility through the design of decoupling of the chassis from the upper body. The fourth-generation Cell-to-Chassis (CTC) technology and inverted battery cell technology enhance the utilization of chassis space while reducing the risk of chassis scraping. Additionally, in terms of intelligence, the chassis supports mechanical decoupling, software decoupling and EE decoupling, enabling L3 to L4 intelligent driving capabilities. It provides high adaptability interfaces and promotes collaborative intelligent applications.

At the launch ceremony, AVATR, the first automaker to use Bedrock Chassis, and CAIT-SH, CATL’s skateboard chassis arm, signed an agreement to deepen cooperation on CATL’s Bedrock Chassis to create a safer, higher-quality travel experience for users.

Safety is a never-ending journey. In the future, CATL will continue to break technological barriers through continuous innovation, and work with partners to build a safe ecosystem for EV batteries and vehicles, safeguarding the safety of users.

View original content to download multimedia:https://www.prnewswire.com/news-releases/catl-launches-the-bedrock-chassis-that-withstands-120-kmh-impact-without-catching-fire-or-exploding-302338927.html

SOURCE Contemporary Amperex Technology Co., Limited (CATL)

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