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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

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/neonode/r/neonode-reports-quarter-ended-september-30–2024-financial-results,c4062016

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Edsol Communications Celebrates 14 Years of Service Excellence

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Company has thrived by placing “People First, Then Technology” at the heart of its operations

FREDERICK, Md., Nov. 6, 2024 /PRNewswire-PRWeb/ — Edsol Communications, a premier IT solutions provider, is proud to mark 14 years of delivering top-tier technical support and services to small businesses, non-profits, educational institutions and government agencies. The company has thrived by placing “People First, Then Technology” at the heart of its operations. Since its conception, Edsol Communications’ impeccable work ethics and customer-focused culture have earned them a loyal client base. Their clients know they can rely on Edsol to provide dependable support whenever needed. The company’s dedication to customer service is evident in its availability and quick response to client needs, and its flexibility and commitment go above and beyond industry norms, making it a trusted partner to their clients.

“We’re very thankful for our clients, partners, and team members for their support and trust”, said Oscar Herrera, President & CEO of Edsol. “We know how important technology is for small businesses and organizations, and how our clients trust us and rely on us for running their organizations…”

Founded in 2010 by Oscar Herrera, Edsol has grown to serve its clients in the DMV area each year, including embassies, non-profits, educational institutions, government agencies, and commercial clients from a wide range of industries. Operating from its office in downtown Frederick, Edsol specializes in IT Managed Services, Help Desk Support, Network Administration, Cabling Infrastructure, Network Assessments, VoIP and Cloud Solutions, and Cybersecurity, offering services to ensure optimal performance for their clients’ systems. Unlike companies that branch out into unrelated fields, Edsol stays true to its core mission—delivering the best in IT support. By specializing exclusively in IT services, they remain at the forefront of industry trends, ensuring their clients receive top-quality support. As a small business, Edsol avoids the overhead costs that burden larger IT companies, passing those savings onto their clients while still delivering superior service.

“We are very thankful for our clients, partners, and team members for all their support and trust”, said Oscar Herrera, President and CEO of Edsol. “We know how important technology is for small businesses and organizations, and how our clients trust us and rely on us for running their organizations. We don’t take that lightly”.

As an SBA-certified 8(a), HUBZone small business and Minority Business Enterprise (MBE), Edsol Communications is dedicated to excellence and inclusion, contributing to economic growth in underutilized business zones. Their GSA 8(a) STARS III and Multiple Award Schedule (MAS) contract vehicles demonstrate their capability to deliver IT solutions that meet the rigorous demands of government and commercial clients alike.

For more information on Edsol Communications’ services, visit edsolcom.com or contact them directly at 301-802-9295.

Media Contact

Patricia Mir, Edsol Communications, LLC, 240-560-5990, patricia.mir@edsolcom.com, edsolcom.com

View original content to download multimedia:https://www.prweb.com/releases/edsol-communications-celebrates-14-years-of-service-excellence-302297718.html

SOURCE Edsol Communications, LLC

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OHRC and LCO release new tool to help organizations assess AI technologies to ensure they uphold human rights

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TORONTO, Nov. 6, 2024 /CNW/ – Today, the Ontario Human Rights Commission (OHRC) and the Law Commission of Ontario (LCO) launched the Human Rights Impact Assessment for AI Technologies (“HRIA” or “the tool”), a tool to help assess and mitigate human rights impacts of AI systems in a broad range of applications.

“AI offers many benefits, but also has well-documented risks. The AI impact assessment released today is a practical, step-by-step tool that will help organizations identify and manage AI risks to human rights.  The LCO and OHRC have worked together to develop the first human rights impact assessment based on Canadian human rights law,” said Raj Anand, Chair of the Law Commission of Ontario Board of Governors.      

“While we are eager to harness the opportunities and benefits presented by the potential of AI, its use by public sector entities around the world has resulted in serious harms to individuals and communities. Thus, it is imperative that human rights protections be built into the foundation of any governing framework or regulation,” said Patricia DeGuire, Chief Commissioner, Ontario Human Rights Commission. “We are proud to have worked with the Law Commission of Ontario to create this tool that will help guide organizations in ensuring that their use of AI aligns with their human rights obligations.”

The HRIA is a step-by-step guide with examples and explanations, created for AI designers, developers, operators, and owners to identify, assess, minimize, or prevent discrimination and uphold human rights obligations throughout the lifecycle of an AI system.

The HRIA aims to:

Strengthen knowledge and understanding of human rights impacts;Provide practical guidance on human rights impacts, particularly in relation to non-discrimination and equality of treatment; andIdentify practical mitigation strategies and remedies to address bias and discrimination from AI systems.

The OHRC and the LCO call on the Ontario government, employers, and all other duty-holders to use the HRIA to ensure that the opportunities, benefits, and protections associated with the use of AI are available to all Ontarians without discrimination.

Quick Facts

The HRIA is based on internationally established guardrails on AI, which recognize the importance of human rights due diligence in use of these technologies.The Canadian Human Rights Commission (CHRC) also contributed to the development of the HRIA.The HRIA has two parts: Part A is an assessment of the AI system for human rights implications. In this section, organizations are asked questions about the purpose of the AI, the significance of the AI system, and the treatment of individual Canadians and communities. Part B is about mitigation. Once the AI system has been categorized, Part B provides a series of questions to assist organizations to minimize identified human rights issues in the given AI system. The HRIA does not constitute legal advice and does not provide a definitive legal answer regarding any adverse human rights impacts, including violations of federal or provincial human rights law or other relevant legislation.

SOURCE Ontario Human Rights Commission

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[Dynamax Pokémon] Best Pokémon GO Spoofer 2024 for iOS without Computer

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NEW YORK, Nov. 6, 2024 /PRNewswire/ — Tenorshare has released version 2.10.2 of its iAnyGo iOS App, offering one-click access to Dynamax and Gigantamax Pokémon, enhancing the Pokémon GO experience. Optimized for iOS 18, the update enables users to quickly find shiny Gigantamax Pokémon, and join Max Battles. With Pokémon GO Spoofer iAnyGo, users can easily navigate the game world, copy GPS coordinates, and team up with friends to challenge Dynamax Pokémon, offering an enriched experience for all trainers.

“With iAnyGo iOS App version 2.10.2, users can now easily locate Dynamax and Gigantamax Pokémon with a single click and quickly share their locations using longitude and latitude coordinates. Trainers can quickly join forces for Max Battles, making it easier to catch gargantuan Pokémon and earn Max Particles to boost their skills for future challenges. These updates enhance gameplay, helping users find shiny Gigantamax Pokémon they might not see locally,” said Tenorshare’s CEO when discussing the new features.

How to Install the iAnyGo iOS App

For new users, the iAnyGo installation process is simple. Here’s a quick overview of the steps:

Go to the official website to download and install the iAnyGo iOS Assistant on your computer.Sign in using Apple ID and click “Install iAnyGo iOS App” button. You can extend its validity every seven days by signing in with your Apple ID on iAnyGo App—no computer is needed after the initial setup.

How to Get Dynamax and Gigantamax Pokémon on new Max Battles

The iAnyGo iOS App enhances your Pokémon experience by allowing you to explore any location virtually. Follow these steps to find and battle Dynamax and Gigantamax Pokémon in the new Max Battles in Pokémon GO.

Open the iAnyGo iOS App and tap the fifth button “D-Max” on the right to view Dynamax and Gigantamax Pokémon. You can view these gargantuan Pokémon by zooming in or out on the screen.Tap the “Go” button, and you can go over to catch Dynamax and Gigantamax Pokémon. You can also click the “copy” button to copy longitude and latitude coordinates and share them with your friends.

Additionally, with its features like Change Location, PokeStop Mode, and Single-Spot Movement, users can spoof Pokémon GO on iPhone without physically moving. iAnyGo iOS App is a reliable Pokémon GO Spoofer for iOS 18.

Pricing for iAnyGo iOS App

The iAnyGo iOS App is available in multiple packages designed to fit users’ needs:
1 Month/1 Device: $14.99
1 Quarter/1 Device: $39.99
1 Year/1 Device: $79.99
Lifetime/1 Device: $99.99

For more details on purchasing, please visit iAnyGo iOS App Pricing.

About Tenorshare

Tenorshare specializes in iOS, Android, Windows, and Mac platforms, focusing on core technology research. It is a leading software provider with millions of users that use its tools related to data transfer, data recovery, system repair, unlocking phones, and many more.

More information: https://www.tenorshare.com/

Facebook: https://www.facebook.com/TenorshareOfficial/

Twitter: https://twitter.com/Tenorshare_Inc

YouTube: https://www.youtube.com/user/TenorshareOfficial/videos

TikTok: https://www.tiktok.com/@tenorshare_tech_tips

This release was issued through Send2Press® on behalf of the news source. For more information, visit Send2Press Newswire at https://www.send2press.com/.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dynamax-pokemon-best-pokemon-go-spoofer-2024-for-ios-without-computer-302297721.html

SOURCE Tenorshare Co. Ltd.

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