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OSL Group Achieves Historic Milestone with Positive Profit for 2024

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HONG KONG, Jan. 24, 2025 /PRNewswire/ — OSL Group Limited (863.HK), a Hong Kong publicly listed company fully dedicated to digital assets (together with its subsidiaries, “the Group”), has announced a positive profit alert for the year ended December 31, 2024 (the “Year”). This marks a historic milestone for the Group, achieving profitability for the first time since its strategic transition to digital assets in 2018. The significant improvement in its financial performance highlights the successful execution of the Group’s business strategy and the effective leadership of its strengthened management team.

Financial Highlights for 2024

Based on a preliminary review of the Group’s unaudited consolidated management accounts for the Year and other information currently available to the board of directors, the Group expects:

Revenue for the Year is expected to be in the range of approximately HK$337 million to HK$375 million in 2024, an increase of approximately 60% to 79%, as compared to revenue of approximately HK$210 million for the corresponding period in 2023.Profit from continuing operations for the Year is expected to be in the range of approximately HK$47 million to HK$52 million, compared to a loss of approximately HK$250 million for the corresponding period in 2023, marking a turnaround from loss to profit.A total comprehensive income for the Year is expected to be in the range of approximately HK$148 million to HK$165 million, as compared to a total comprehensive loss of approximately HK$266 million for the corresponding period in 2023. 

Key Growth Drivers

The expected growth in revenue and turnaround from loss to profit for the Year are mainly attributable to a number of factors, including:

Market Growth: The surge in digital asset prices and launch of digital asset Exchange Traded Funds (ETFs) in 2024 have significantly increased institutional investor participation, resulting in increased demand for the Group’s digital asset trading and institutional services.Expanded Leadership Team: The continued expansion of the Group’s management team has driven strategic business development and accelerated business plan execution.Operational Efficiency: The implementation of initiatives to enhance and optimise operational efficiency.Appreciation of Digital Assets: The appreciation in value of digital assets held by the Group to facilitate its trading business.

Moreover, the expected turnaround of total comprehensive income is mainly attributed to the expected increase in the fair value of digital assets held by the Group as long-term investments.

Kevin Cui, Executive Director and CEO of OSL Group, said: “This is an important milestone for OSL Group. Achieving profitability positions us strongly to expand into new business lines. We are already working on exciting updates to our regulated digital asset trading platform, expanding into new markets, and launching new initiatives to better serve our clients. This is just the beginning, and we remain committed to working hard and pursuing continued success in the future.”

The Group is still in the process of finalising its annual results for the Year. The Shareholders and potential investors of the Group are advised to read the annual results announcement of the Group for the Year, which is expected to be published in March 2025.

About OSL Group

OSL Group (formerly BC Technology Group) is at the forefront of the digital asset industry, striving for excellence in providing innovative solutions for institutions, professional, and retail investors. As a leading player in the digital asset space, OSL Group is committed to a long-term strategy.

With a rich history and experience in the sector, OSL Group is backed by a track record of regulatory compliance and excellence. OSL offers a comprehensive suite of services, including brokerage, custody, exchange, and SaaS, setting the standard for the digital asset industry.

Proudly the world’s first insured and SFC-licensed digital asset platform, OSL Group places paramount importance on regulatory compliance and security, upholding the highest industry standards. Our platform is designed to cater to institutional client, professional & retail investors, providing a user-friendly interface that seamlessly integrates cutting-edge technology.

At OSL Group, we envision the future of finance in digital assets and are dedicated to guiding our clients through this dynamic landscape. Our team of experts brings together extensive experience in traditional finance, technology, and digital assets, ensuring that our clients receive top-tier support and guidance.

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SOURCE OSL Group

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Boreal Carbon completes acquisition of Finite Carbon

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TORONTO, Feb. 13, 2025 /PRNewswire/ – Boreal Carbon Corporation (“Boreal”) is pleased to announce the acquisition of Finite Carbon Corporation (“Finite”).

Founded in 2009, Finite is the leading provider of forest offset project development services in North America. To date, Finite’s developed projects have generated over 100 million offsets which have delivered more than $1 billion in carbon revenues to landowners. Boreal intends to leverage Finite’s unrivaled in-house expertise to capitalize on the growing role nature-based solutions play in helping companies meet their emissions targets.

Brendon Abrams, Boreal CEO, said “Boreal is excited to join forces with Finite. With a skilled team of forestry professionals, Finite is well-positioned to continue its role as an industry leader in carbon markets and sustainable forest management in North America.”

Carrie Gombos and Brandon Vickery, Finite’s Co-CEOs, stated “Finite is beginning a new chapter in its history, and with the support of Boreal, this marks a defining opportunity for our clients and employees. The need for sustainable forestry and high integrity, nature-based climate solutions is greater than ever before; Finite looks forward to advancing best practices in these areas and contributing to the much-needed repair, management, and growth of forests in North America.”

About Boreal Carbon Corporation

Boreal Carbon Corporation is a private company focused on investing in, and delivering, sustainable forestry solutions to governments and private landowners throughout North America. Boreal is led by an experienced team in the fields of forestry, carbon markets, and business, with support from investors including Senvest Capital Inc. and Osmington Inc.

Visit www.borealcarbon.com to learn more.

About Finite Carbon Corporation

Finite is North America’s leading provider of forest offset project development services. Finite combines unparalleled project development experience with extensive carbon market knowledge. Its project portfolio includes four million acres of working forestland, representing every region and major forest type in the United States.

Visit www.finitecarbon.com to learn more.

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SOURCE Boreal Carbon Corporation

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JEDMED and Otologic Technologies Announce Partnership to Launch the World’s First AI-Enabled Digital Otoscope

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ST. LOUIS, Feb. 13, 2025 /PRNewswire/ — JEDMED Corporation, a global leader in advanced otoscopic solutions, and Otologic Technologies, developer of an artificial intelligence (AI)-driven diagnostic for ear diseases are proud to announce a groundbreaking partnership to deliver the world’s first AI-enabled digital otoscope.

Otologic Technologies was founded by Dr. Aaron Moberly of Vanderbilt University Medical Center and Professor Metin Nafi Gurcan of Wake Forest University School of Medicine. Dr. Moberly’s understanding that ears were being misdiagnosed — documented to be as high as 70% of the time — inspired him and Prof. Gurcan to develop the AI foundation that powers Otologic’s transformative platform.

“We are thrilled to partner with Otologic Technologies and to offer a digital otoscope that elevates care by leveraging artificial intelligence,” said Dan Wyatt, VP of Operations at JEDMED. “Our commitment to improving diagnostic precision and patient outcomes aligns perfectly with Otologic’s goal of bringing accessible and accurate ear care to the forefront of modern medicine.”

The new AI-enabled digital otoscope will seamlessly integrate with Otologic Technologies’ platform, providing medical professionals with automated diagnostic support and real-time image analysis for conditions of the middle ear. By generating a single enhanced image from the captured video feed and offering a probability of whether the ear is normal or diseased, healthcare providers will be able to make faster, more informed decisions.

“When we set out to develop this AI solution, our goal was always to empower healthcare providers with more accurate information and reduce avoidable misdiagnoses,” shared Dr. Aaron Moberly, Co-Founder of Otologic Technologies. “This partnership with JEDMED marks a huge step forward.”

“As a researcher focused on advancing medical imaging and diagnostic technologies, I see this collaboration as an important step in applying AI to clinical practice. Our goal is to develop tools that can support clinicians in making more informed decisions, and we believe this system has the potential to contribute to that effort,” added Professor Metin Gurcan, Co-Founder of Otologic Technologies. “Our aim in developing this AI solution has been to provide clinicians with additional diagnostic support by integrating advanced imaging and data analysis. We hope this collaboration will help improve accuracy where diagnostic challenges exist.”

The AI-enabled digital otoscope will be available in the U.S. market during the third quarter of 2025.

For more information or to schedule a demonstration, please contact:

Dan Wyatt (JEDMED): Danw@jedmed.comRoman Gelman (Otologic Technologies): roman@otologictechnologies.com

View original content:https://www.prnewswire.com/news-releases/jedmed-and-otologic-technologies-announce-partnership-to-launch-the-worlds-first-ai-enabled-digital-otoscope-302376571.html

SOURCE Otologic Technologies

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An independent third-party performance assessment confirms that the Aquarius AQ 150 engine demonstrates 25% higher efficiency than the world’s leading engines, operates on multiple fuel types, and is significantly lighter than existing alternatives

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As a reminder, Aquarius’ innovative systems generate and supply clean electricity, designed to enable ultra-fast charging for electric vehicles in the rapidly growing EV market. Aquarius’ systems are smaller and more efficient than existing market solutions and do not depend on the power grid.

According to Gal Fridman, CEO of Aquarius: “This report unequivocally proves that Aquarius has the right solution at the right time in terms of structure, efficiency, and quality. Aquarius continues to lead the revolution in innovative engines and solidify its position in the technology market. With groundbreaking performance, operational flexibility, and a significant competitive advantage, the company anticipates growing interest in AQ engines from various industries.”

TEL AVIV, Israel, Feb. 15, 2025 /PRNewswire/ — Aquarius Engines (TASE: AQUA) is pleased to announce that it has received a performance assessment report for the AQ 150 engine, conducted by BTD (Breuer Technical Development), an independent third-party expert. The report, based on technological validation testing at an external engineering service company, confirms that the Aquarius Engine offers substantial advantages in size, weight, efficiency, and multi-fuel capability.

 

 

Key Findings:

The company has begun producing the first units of the Aquarius engine, the AQ dr engine, the first of its kind in the world.The engine concept is modular. From the 6-cylinder engine, derivatives such as a single cylinder or 3 cylinders can be built.The engine has been tested running on LPG in a single-cylinder configuration, with measurements used for simulations across other models.With minimal modifications, the engine is expected to operate on hydrogen and CNG as well.In a six-cylinder configuration, at 3,000 RPM, the engine is projected to achieve an efficiency of 40%.The Aquarius Engine is remarkably lightweight and compact compared to similar engines from leading global manufacturers.When compared to the four leading engine manufacturers worldwide, the Aquarius Engine demonstrates 25% greater efficiency than the best-performing engine on the market.BTD confirms that Aquarius holds unique and essential innovations that fill significant gaps in the market.

It is important to note that the forecasts regarding engine performance and commercial implementation are based on current data but are subject to external factors beyond the company’s control and may change.

The company will continue to update on developments.

Photo: https://mma.prnewswire.com/media/2619761/Aquarius_Engines.jpg

Contact:
odedm@aquariusengines.com 

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