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Argo Corporation Reports Third Quarter 2024 Financial Results

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TORONTO, Nov. 29, 2024 /CNW/ – Argo Corporation (TSXV: ARGH), (OTCQX: ARGHF) (“Argo” or the “Company”), a new venture delivering the first-ever vertically and publicly integrated city transit system, announced today its financial results for the quarter ended September 30, 2024 (“Q3 2024”). During the third quarter of 2024, Argo deployed its smart transit system with its first paying customers and made significant progress in restructuring prior initiatives in its publicly traded entity. 

Argo Highlights

Argo School: The Company successfully deployed its smart transit solution to a series of private schools in the Greater Toronto Area, providing end-to-end student transportation operations. Argo’s innovative technology delivers access to more flexibility and real-time tracking of students and vehicles, with unprecedented safety, reliability, and transparency for families and schools alike. The Company plans to continue to expand this solution to other private and public schools throughout Canada and abroad.Argo City: Argo’s public transit solution is the first to integrate custom software with vehicular hardware to create a network of intelligently routed vehicles that augment public transit systems with on-demand, door-to-door service. Argo City aims to reduce private car usage and increase ridership of existing public transit systems through partnership with cities, transit agencies, and governments. The Company expects to announce its first city partners in the coming months.R&D Investment: The Company’s quarterly R&D investment spend for Q3 2024 increased by 401% year-over-year. This investment reflects a significant focus on developing the Company’s proprietary vertically and publicly integrated city transit system, with significant progress in software and hardware functionality to enable seamless and reliable school and city deployments, putting people in control of their mobility.

Restructuring Updates

Vehicle Subscription: $8.5M in liabilities have been reclassified in Q3 2024 as held for sale as a result of wholly owned subsidiaries Steer EV Canada Inc. filing an assignment into bankruptcy under the Bankruptcy and Insolvency Act in Canada and Steer Holdings LLC, making a General Assignment for the Benefit of Creditors, pursuant to California law. The Company anticipates these liabilities will be removed in the coming quarters upon completing these legal processes, aligning with its restructuring efforts announced in the May 23, 2024, press release.Disputed Office Lease: Argo filed a statement of claim regarding a disputed office lease with landlord 8174709 Canada Inc. and the Company’s former CEO. The disputed lease represents $3.6M in liabilities and payables on the Company’s balance sheet.Sale of Financial Assets: The Company continues to engage in active sales processes for intellectual property and financial assets associated with the last venture in its publicly traded entity. In Q3 2024, the Company completed the sale of 14,200 shares of preferred stock in the capital of Westbrook Global Inc., receiving a cash payment of $750K as consideration.

FoodsUp Updates

Argo maintains a 59.95% non-controlling ownership interest in FoodsUp Inc. (“FoodsUp”), one of Canada’s leading restaurant supply platforms. In Q3 2024, FoodsUp had revenues of $28.7M, representing a 10% increase over Q2 2024 and a 61% yearly increase in quarterly revenues from Q3 2023.

The Company remains committed to implementing a transaction structure, the effect of which would be to provide the shareholders of Argo with the net proceeds from any sale of its interest in FoodsUp to a third party or an indirect or tracking ownership interest in FoodsUp in each case, as of to-be-determined record date (the “FoodsUp Divestment”). The FoodsUp Divestment, if it occurs, will mark an important step in the formal separation between the business of FoodsUp and Argo.

Q3 2024 Results Compared to Q3 2023

For the three months ended September 30

2024

2023

REVENUE

$449,567

$101,851

Cost of revenue

29,519

59,676

General and administration

1,019,001

377,350

Operational support

520,911

274,024

Research and development

614,149

122,573

Sales and marketing

73,054

73,068

Amortization

37,108

196,865

Depreciation

10,941

84,831

Total operating expenses

2,304,683

1,188,387

OPERATING LOSS

($1,855,166)

($1,086,536)

OTHER INCOME (EXPENSES)

Foreign exchange gain/ (loss)

(28,460)

(93,854)

Interest expenses

(532,931)

(61,018)

Interest income

1,023

272

Gain/ (Loss) on accounts payable settlements

301,483

Gain/ (Loss) on termination

279,606

Write down of intangible asset

(211,182)

Other income/(loss) from discontinued operations

(10,285,769)

(115,015)

Penalties and settlement

(68,500)

Share of loss of an associate

(593,014)

(2,860,412)

Net income/ (loss) from continuing operations

($12,992,860)

($4,216,563)

Discontinued Operations

Net income/ (loss) from discontinued operations

12,296,195

(1,037,987)

NET GAIN (LOSS)

($696,665)

($5,254,550)

Cumulative translation adjustment

(174,518)

(253,879)

NET PROFIT (LOSS)  AND COMPREHENSIVE PROFIT (LOSS)

($871,183)

($5,508,429)

(Loss) profit per share

– Basic and diluted

($0.01)

($0.04)

Weighted average shares outstanding – Basic and diluted

133,367,099

132,944,615

1 All figures are accurate to the hundreds.

In this press release, all references to ‘$’ are to Canadian dollars.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Argo

Argo delivers the first-ever vertically and publicly integrated city transit system. It is designed to augment public transportation and create a network of intelligently routed vehicles that work together to serve and scale to the needs of entire cities, putting people in control of their mobility. You can learn more at www.rideargo.com.

Praveen Arichandran, Co-CEO
Argo Corporation
(800) 575-7051

Forward-Looking Information

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate,” “estimate,” and “intend,” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, as described in more detail in the Company’s securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. See “Forward-Looking Information” and “Risk Factors” in the Company’s Annual Management Discussion & Analysis (MD&A) for the year ended December 31, 2023 (filed on SEDAR+ on May 8, 2024) and its interim MD&A for the periods ended September 30, 2023, March 31, 2024, June 30, 2024, and September 30, 2024 for a discussion of the uncertainties, risks and assumptions associated with these statements and other risks. Readers are urged to consider the uncertainties, risks, and assumptions carefully when evaluating forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation and regulatory requirements.

SOURCE ARGO CORPORATION

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TCL CSOT to Unveil Industry-Leading Display Innovations at SID Display Week 2025

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SAN JOSE, Calif., May 10, 2025 /PRNewswire/ — TCL CSOT, a global leader in display technologies, is set to participate in SID Display Week 2025 with a compelling showcase of innovations that will define the next generation of intelligent displays. From high-performance Inkjet Printing OLED (IJP OLED) and MLED products to advanced FMM OLED and LCD applications, TCL CSOT will present a full spectrum of future-ready display solutions under its APEX innovation platform.

“Introduced in 2024, the APEX brand represents TCL CSOT’s vision for the future of display technology—where exceptional visual performance aligns with human-centric innovation, energy efficiency, and sustainable development,” said Jun Zhao, Chief Executive Officer of TCL CSOT. “At SID 2025, the APEX platform will debut a new generation of groundbreaking technologies that reflect our continued commitment to shaping a more intelligent and environmentally conscious display era.”

Breakthroughs Across Sizes and Applications in IJP OLED

TCL CSOT has been a pioneer in IJP OLED for over a decade. With consistent investment and deep technical expertise, the company has introduced multiple world-first innovations—spanning ultra-large panels and high-resolution flexible displays. As one of the first manufacturers to achieve production-scale commercialization of IJP OLED, TCL CSOT is advancing both the performance and scalability of the technology through greater material efficiency and process flexibility.

At SID 2025, TCL CSOT will debut a complete IJP OLED family bucket—including smartphones, tablets, laptops, rollable displays, and TVs—highlighting the brand’s industry leadership in delivering eco-efficient, production-ready IJP OLED solutions across all mainstream device categories.

Advancing the Full-Spectrum MLED Ecosystem

TCL CSOT continues to push the boundaries of Micro LED technology, introducing high-contrast, high-uniformity display solutions across a wide range of form factors. As part of its MLED ecosystem strategy, the company will present next-generation innovations across scale, brightness, and integration—pushing the boundaries of Micro LED applications. These innovations signal the ongoing evolution of MLED technology into a true platform for immersive, sustainable, and intelligent visual systems.

APEX Across Categories – Comprehensive Display Innovation

In addition to OLED and MLED advancements, TCL CSOT’s APEX platform will feature a robust lineup of innovations across multiple display segments. Highlights include:

Advanced HVA and HFS technologies for improved image quality, low power consumption, and eye-care.Breakthrough FMM OLED displays for slim, high-performance consumer electronics.Next-gen automotive displays designed to elevate in-cabin interactivity, visibility, and aesthetics.

Together, these innovations reflect TCL CSOT’s comprehensive leadership across the intelligent display ecosystem—advancing user experience, technical versatility, and environmental responsibility across industries.

Exhibition Details

Event: SID Display Week 2025
Date: May 13–15, 2025
Location: San Jose McEnery Convention Center, California
Booth: #816

TCL CSOT warmly welcomes industry professionals, media representatives, and ecosystem partners to visit its booth and experience firsthand the technologies that are shaping the future of smart visual interaction. The company looks forward to engaging discussions, collaboration opportunities, and the sharing of insights that will define the next phase of display innovation.

About TCL CSOT

Established in 2009, TCL China Star Optoelectronics Technology Co., Ltd. (TCL CSOT) is a leading global innovator in display technologies. Its LCD, OLED, and MLED solutions power applications across TVs, smartphones, tablets, laptops, monitors, automotive systems, VR/XR, and commercial displays. With continuous investment in R&D and a strong global supply ecosystem, TCL CSOT is committed to shaping the future of display technology with intelligent, energy-efficient, and user-centric innovations. As part of TCL’s Worldwide Olympic Partnership through 2032, TCL CSOT is proud to deliver display solutions that elevate experiences on the global stage.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tcl-csot-to-unveil-industry-leading-display-innovations-at-sid-display-week-2025-302450980.html

SOURCE TCL China Star Optoelectronics Technology

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MyStonks Launches Industry-Leading On-Chain U.S. Stock-Token Marketplace with 100% Custody Backing

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NEW YORK, May 10, 2025 /PRNewswire/ — MyStonks.org, a decentralized trading platform, announced the official launch of a fully custody-backed, on-chain U.S. stock token marketplace in the crypto industry. Cryptocurrency users can purchase U.S. stocks on MyStonks. Global asset management giant Fidelity provides custodial services for platform users, with an initial custody asset total of $50 million.

MyStonks has successfully established a complete operational cycle that links U.S. stock assets under Fidelity Custody to the Base blockchain for token minting and burning. Users can initiate purchases of Stonks100 stock tokens on MyStonks by transferring USDC or USDT from their self-custodied crypto wallets. Upon confirmation, MyStonks converts these stablecoins into USD and purchases the corresponding stock shares. These are then tokenized 1:1 into ERC-20 tokens via Base smart contracts. For example, when buying Apple shares, users receive AAPL.M tokens minted by MyStonks.org, representing the exact number of shares held. Token pricing utilizes Chainlink oracles.

If users wish to redeem their stock tokens, they can initiate a sell request for AAPL.M or other supported assets directly from their wallets. MyStonks will then convert the tokens back into stablecoins and burn the equivalent tokens in a 1:1 ratio.

To ensure the security of user assets, MyStonks has partnered with Fidelity, which provides custody services (Fidelity Custody) for platform users’ U.S. stock holdings.

According to a custodial statement dated April 29, 2025, Fidelity Custody holds over $50 million in U.S. equities ($50,473,199.00) on behalf of MyStonks Holding Limited. The initial batch of 95 tokenized equities includes major names such as AAPL, AMZN, DIS, GOOGL, META, MSFT, NFLX, and NVDA, each of which is mirrored on-chain by its respective token.

A representative from MyStonks explained that when users purchase U.S. stock tokens on the platform, the corresponding stocks are managed by Fidelity Custody, ensuring the authenticity, compliance, and auditability of assets. Through integration with Fidelity Custody’s infrastructure, MyStonks has achieved a seamless connection between on-chain tokens and off-chain stock assets.

As a trusted institution in TradFi, Fidelity plays a key role in safeguarding asset security and compliance, making it an important partner for MyStonks in the tokenization of stock trading.

Additionally, MyStonks has upgraded its on-chain trading security and user experience. When users initiate buy or sell orders, the platform executes the corresponding operations on the blockchain, including cross-chain asset management, real stock transactions, and the minting or burning of tokens. The entire process is transparent, traceable, and decentralized, enabling users to purchase U.S. stocks in a fully digital and tokenized manner.

All trading operations are governed by smart contracts to ensure immutability and auditability. A Decentralized Identity System (DID) safeguards account uniqueness and prevents fraudulent transactions. Core smart contracts have undergone security audits and are modularly designed to isolate risk. According to MyStonks.org, off-chain fund transfers require multisignature (multisig) wallet authorization to avoid single points of failure. Cross-chain asset movements are executed through audited protocols. Additional protections include a time-lock mechanism for transaction confirmation and HTTPS/HSTS enforcement for frontend encryption.

New user experience upgrades include support for on-chain limit orders, improved wallet connectivity, a refined user account dashboard, and optimized UI layouts.

“The launch of the Stonks100 tokenized U.S. stock marketplace marks an important milestone in our ongoing journey of innovation. As we continue to expand access to tokenized equities, our focus remains on offering secure, professional, and transparent trading infrastructure. We believe MyStonks users and our global community will grow alongside us as we push the boundaries of decentralized finance,” a MyStonks.org representative said.

About MyStonks.org
MyStonks.org is a decentralized crypto asset trading platform born out of a Community Takeover (CTO) effort by the Stonks community. It is an industry-leading platform to offer fully custody-backed, 1:1 tokenized U.S. equities on-chain. MyStonks aims to become the decentralized “NASDAQ” of the crypto world—supporting new token projects and reshaping the DeFi landscape for healthier market growth.

About the Stonks Community
The Stonks community draws inspiration from the GameStop ($GME) movement and the ethos of crypto resistance. The rallying cry: FIGHT! HODL!
Whitepaper: https://main.mystonks.org/pc/whitepaper.html

Fidelity Custody Report:
https://main.mystonks.org/static/pdfjs/web/viewer.html?file=/static/Proof.pdf

Media Contact:
Email: mystonksmedia@mystonks.org

View original content:https://www.prnewswire.com/news-releases/mystonks-launches-industry-leading-on-chain-us-stock-token-marketplace-with-100-custody-backing-302451682.html

SOURCE MyStonk.org

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Abu Dhabi and Japan sign agreements to strengthen partnerships, boost bilateral trade and investments

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ABU DHABI, UAE, May 10, 2025 /PRNewswire/ — An Abu Dhabi economic delegation, led by the Abu Dhabi Department of Economic Development (ADDED), concluded a successful visit to Japan, signing agreements with government entities and the private sector to further enhance partnerships in various industries and high-growth clusters.

The Abu Dhabi economic delegation, comprising representatives from more than 80 public sector entities, private enterprises, SMEs, and startups, engaged in high-level meetings with top government officials, key businesses and investors in Japan, exploring collaboration opportunities in across key sectors including life sciences, carbon-neutral technologies, AI, digital infrastructure, robotics, advanced manufacturing, and financial services.

The delegation visited Expo 2025 Osaka and SusHi Tech – Tokyo, and organised the 11th Abu Dhabi Japan Economic Council (ADJEC) meeting, the Abu Dhabi Investment Forum (ADIF) and Abu Dhabi-Japan Business Forum, highlighting cooperation opportunities and the role of Abu Dhabi’s ‘Falcon Economy’ initiatives in accelerating transition towards a smart, diversified, and sustainable development.

12 homegrown startups, supported by Hub71 and Khalifa Fund, participated in SusHi Tech- Tokyo, Asia’s premier startup and innovation conference, highlighting Abu Dhabi’s tech talent, solutions, and investment opportunities in innovation-driven industries.

Organised in partnership with the UAE Embassy in Tokyo, the visit included meetings with H.E. Hirofumi Yoshimura, Governor of Osaka, H.E. Yuriko Koike, Governor of Tokyo, H.E. Nobuhiko Yamaguchi, Vice Governor of Osaka, H.E. Ogushi Masaki, State Minister of Economy, Trade and Industry, H.E. Takeuchi Shinji, Parliamentary Vice-Minister of Economy, Trade and Industry (METI), and H.E. H.E. Kodaira Nobuyori, President of the Japan Cooperation Center for the Middle East (JCCME). The delegation also met senior officials and executives of the Osaka Chamber of Commerce and Industry, Japan Business Federation (Keidanren), Sumitomo Corporation, Cosmo Energy, ITOCHU, and Toshiba.

His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED, said: “Guided by our leadership’s ambitious vision, we are doubling down on our efforts to future-proof the economy and cement Abu Dhabi’s stature as a rising economic powerhouse and a global hub for talent, business, investment, and trade”.

“Our visit to Japan presented a valuable opportunity to further strengthen our longstanding partnership by exploring new avenues of collaboration in various sectors. The agreements signed during this visit reinforce our commitment to deepening partnerships across priority industries and clusters to address giga shifts in the global economy. We remain committed to enhancing cooperation with key economies and trading partners, making human development and sustainability our top priorities to shape a brighter tomorrow”.

The agreements signed during the visit included a strategic partnership for smart mobility solutions between Emirates Driving Company and Zenmov, a leading company in smart mobility solutions, and Abu Dhabi Chamber and the Japan External Trade Organization (JETRO) agreement to deepen business relations and create new opportunities for collaboration.

In addition, the Emirates Foundation’s Nema initiative and Japan International Cooperation Center (JICE) inked an agreement to bolster cooperation to support achieving Nema’s goal of reducing food loss and waste by 50 percent by 2030, in line with the UAE’s National Food Security Strategy 2051 and U.N. Sustainable Development Goals.

His Excellency Shihab Ahmed Alfaheem, Ambassador of the UAE to Japan, said: “The visit of the Abu Dhabi economic delegation to Japan underscores the strength and strategic depth of the UAE–Japan relationship — one that is rooted in decades of trust and collaboration, and now firmly focused on the future. Japan’s global leadership in digital innovation, smart infrastructure, sustainable mobility, and advanced manufacturing aligns closely with Abu Dhabi’s economic diversification goals and its ambition to build a resilient, knowledge-based, and climate-conscious economy.”

H.E. Alfaheem added: “This mission represents a pivotal moment in our bilateral ties, as we prepare to activate transformative frameworks such as the Comprehensive Economic Partnership Agreement (CEPA). CEPA will provide unprecedented access to markets, streamline cross-border investment, and facilitate greater technological exchange between our nations. It is through such frameworks that we will unlock the full potential of UAE–Japan collaboration across sectors — from clean energy and AI to startups and industrial R&D. The UAE Embassy in Tokyo is proud to support this high-level engagement. We remain committed to fostering meaningful partnerships between Emirati and Japanese institutions, and to advancing shared priorities that will shape the next era of sustainable, innovation-led growth.”

Bilateral trade between the UAE and Japan rose 4.8 percent to AED 182.4 billion (USD 49.7 billion) in 2024, compared to AED 174 billion (USD 47.4 billion) in 2023, while non-oil trade grew 2.2 percent over the same period, reflecting growing ties between the two economies. UAE investment in Japan has increased 100% over the past five years, while the country accounts for 80 percent of Japanese investments in the Middle East.

The Abu Dhabi economic delegation included senior officials and executives from government entities, private sector’s companies, and startups, including the Department of Culture and Tourism – Abu Dhabi, Abu Dhabi Securities Exchange (ADX), ADGM, Abu Dhabi Investment Office (ADIO), Abu Dhabi Customs, Khalifa Fund for Enterprise Development, Abu Dhabi Chamber of Commerce and Industry (ADCCI), ADNOC, KEZAD, Hub71, Abu Dhabi Airports, and major companies from different sectors.

Photo: https://mma.prnewswire.com/media/2684338/Ahmed_Jasim_Al_Zaabi.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/abu-dhabi-and-japan-sign-agreements-to-strengthen-partnerships-boost-bilateral-trade-and-investments-302451662.html

SOURCE Abu Dhabi Department of Economic Development

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