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VANCOUVER, BC / ACCESS Newswire / March 19, 2026 / Future Fuels Inc. (TSXV:FTUR)(OTCQX:FTURF)(FWB:S0J) ("Future Fuels" or the "Company") announces, further to its February 3, 2026 news release, that it has filed an amended and restated offering document (the "Amended and Restated Offering Document") in connection with its offering (the "LIFE Offering") under the listed issuer financing exemption pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935.

The Amended and Restated Offering Document reflects recent corporate developments of the Company, including the Company's entry into an amalgamation agreement with Hatchet Uranium Corp., a 51-percent owned subsidiary of ValOre Metals Corp. (TSXV: VO)) and 1564470 B.C. Ltd. (a wholly owned subsidiary of the Company), pursuant to which the Company agreed to acquire all of the issued and outstanding securities of HUC by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia).

All other terms and conditions of the LIFE Offering remain unchanged. The Company expects to close the LIFE Offering on or about April 8, 2026, subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. For further information regarding the LIFE Offering, investors should refer to the Company's news release announcing the LIFE Offering dated February 3, 2026, and the Amended and Restated Offering document dated March 19, 2026, each of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at: www.futurefuelsinc.com. Prospective investors should read this offering document before making an investment decision.

About Future Fuels Inc.

Future Fuels' principal asset is the Hornby Uranium Project, covering the entire 3,407 km² Hornby Basin in north-western Nunavut, a geologically promising area with over 40 underexplored uranium showings, including the historic Mountain Lake Deposit. Additionally, Future Fuels holds the Corvette Property in Quebec's James Bay region, comprising 65 mineral claims over 3,370 hectares.

On Behalf of the Board of Directors

~Rob Leckie~

Rob Leckie
CEO, Director
Future Fuels Inc.
[email protected]

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company's exploration and development plans with respect to its projects, statements regarding the LIFE Offering including, without limitation, statements regarding the completion or the expected closing date of the LIFE Offering, the receipt of regulatory approvals, and the Company's anticipated business and operational activities. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, the inherently unpredictable nature of resource exploration, market conditions and the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward- looking statements as expressly required by applicable law.

SOURCE: Future Fuels Inc.

Relmada Therapeutics, Inc. (RLMD) Q4 2025 Earnings Call March 19, 2026 4:30 PM EDT

Company Participants

Sergio Traversa - CEO & Director
Raj Pruthi - Chief Medical Officer of Urology
Maged Shenouda - Chief Financial Officer

Conference Call Participants

Brian Ritchie - Lifesci Advisors, LLC
Uy Ear - Mizuho Securities USA LLC, Research Division
Farzin Haque - Jefferies LLC, Research Division
Christopher Liu - Lucid Capital Markets, LLC, Research Division
Kelsey Goodwin - Piper Sandler & Co., Research Division

Presentation

Operator

Good afternoon, and welcome to the Relmada Therapeutics Fourth Quarter and Full Year 2025 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded and will be available for replay on the Relmada website. I would now like to turn the call over to Brian Ritchie from LifeSci Advisors. Please go ahead, Mr. Ritchie.

Brian Ritchie
Lifesci Advisors, LLC

Good day, everyone, and thank you for joining us today. This afternoon, Relmada issued a press release providing a business update and outlining its financial results for the 3 months and year ended December 31, 2025. Please note that certain information discussed on the call today is covered under the safe harbor provision of the Private Securities Litigation Reform Act.

We caution listeners that during this call, Relmada's management team will be making forward-looking statements. Actual results could differ materially from those stated or implied by these forward-looking statements due to risks and uncertainties associated with the company's business. These forward-looking statements are qualified by the cautionary statements contained in Relmada's press release issued today and the company's SEC filings, including in the annual report on Form 10-K for the year ended December 31, 2025, filed after the close today.

This conference call also contains time-sensitive information that is accurate only as of the date of this live broadcast on

Artificial intelligence (AI) technology has taken the stock market by storm in recent years, driving solid growth for several companies involved in its development and distribution.

Not surprisingly, many AI stocks have created significant wealth for investors in recent years. From Nvidia (NVDA 0.87%) to Palantir Technologies, Broadcom, or Micron Technology, AI has minted multiple high-flying stocks. The good news is that AI adoption is poised to take off in the long run. A third-party estimate pegs the size of the AI market at a whopping $5.3 trillion in 2035, up from $274 billion in 2023.

As a result, it won't be surprising to see AI generate generational wealth for investors in the long run, helping them build enough capital to pass down to their descendants. That's why we are going to take a closer look at Nvidia, a tech giant with the potential to create generational wealth.

Image source: Nvidia.

AI could make Nvidia a much bigger company than it is right now Nvidia is one of the biggest names in AI right now. Its chips have played a critical role in training AI models and in inference applications. The outstanding demand for its chips has made Nvidia the world's largest company by market cap. But what's worth noting is that Nvidia still has room to grow despite reaching a $4.4 trillion market cap.

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The company finished its 2026 fiscal year (which ended on Jan. 25, 2026) with almost $216 billion in revenue, up 65% from the prior year. What's worth noting is that Nvidia's $78 billion revenue outlook for the current quarter calls for a 77% year-over-year increase, suggesting that it is poised for an acceleration despite its massive revenue base.

There are a few solid reasons why Nvidia is still capable of growing at an incredible rate. The first is that the global AI chip market could grow from an estimated $500 billion in 2026 to $1 trillion in 2030, a compound annual growth rate of almost 19%. Nvidia is the dominant player in this market, with an estimated 90% share, and its growth rate suggests it can sustain its dominance.

So, the incremental growth opportunity in the AI chip market should pave the way for further growth in the company's data center revenue, which stood at just under $194 billion in the latest fiscal year. On the other hand, Nvidia has started benefiting from the adoption of physical AI, which should expand its addressable market beyond just data center chips.

Physical AI is the integration of AI in robots, drones, autonomous vehicles, and robotic arms in factories, among other things. Nvidia reported that physical AI applications contributed an impressive $6 billion to its revenue in fiscal 2026. Don't be surprised to see this market moving the needle in a bigger way for the company as it expands its relationships with companies such as Dassault, Siemens, Caterpillar, LG Electronics, Boston Dynamics, and others to boost physical AI adoption.

Investment bank UBS expects the market for humanoid robots, which resemble the human body and are equipped with AI tech, to grow to a range between $30 billion and $50 billion by 2035. However, humanoid robots could generate sales of $1.4 trillion to $1.7 trillion annually by 2050, driven by lower costs that should ideally improve their adoption rates. So, Nvidia's early move into physical AI could open a massive growth opportunity for the company in the long run.

Another important point is that Nvidia aims to become a full-stack AI company by expanding into software. Technology magazine Wired reports that Nvidia is poised to spend $26 billion on open-weight AI models in the coming year. In simple terms, Nvidia will publicly release the numerical weights of the AI models it develops, so users can customize and run them as needed on a cloud infrastructure of their choice. However, developers are unlikely to have access to the code or the training data.

This approach is expected to give Nvidia an edge over the likes of Anthropic and OpenAI, which offer closed-ended models. In all, Nvidia is positioning itself to control the AI ecosystem from hardware to software. That's precisely why it can sustain healthy long-term growth, which should allow it to deliver greater gains to investors.

Can the stock really jump higher after what it has done in the last decade? An investment of $10,000 in Nvidia stock a decade ago is now worth $2.2 million. Expecting the stock to replicate such performance over the next decade seems unlikely at present, given its market cap of $4.45 trillion. For some perspective, the global economy was reportedly worth $117.2 trillion last year.

But we never know what the future may hold. Nvidia is plying its trade across multiple trillion-dollar markets, from chips to robots to AI software. As a result, there is ample room for growth in the company's revenue in the long run, from the latest fiscal year's top line of $215.9 billion, which should ideally send this tech stock's market cap much higher.

That's why anyone who is looking to buy and hold a stock that could assist investors in creating generational wealth over the long run should take a look at Nvidia, especially considering that it has a forward earnings multiple of just 22.5. That's almost in line with the S&P 500 index's forward earnings multiple of 22.1. However, it is worth noting that Nvidia's earnings are anticipated to grow at a significantly faster pace than the broader market, paving the way for significant stock price upside.

Oil prices fell in Asia, after Brent surged overnight following Iranian attacks on Middle Eastern energy infrastructure.

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Samsonite Group S.A. (SMSEY) Q4 2025 Earnings Call March 19, 2026 8:01 PM EDT

Company Participants

Alvin Concepcion
Kyle Gendreau - CEO & Executive Director
Thomas Pizzuti - Chief Financial Officer

Conference Call Participants

Kin Shun Ling - Jefferies LLC, Research Division
Akshay Gupta - HSBC Global Investment Research
Perry Yeung - UBS Investment Bank, Research Division

Presentation

Operator

Good morning, good afternoon and good evening, ladies and gentlemen. Welcome to Samsonite Group 2025 Annual Results Conference Call. [Operator Instructions]. Please note that this conference is being recorded. I would now like to hand the conference over to Mr. Alvin Concepcion, Vice President of Investor Relations. Thank you. Please go ahead, sir.

Alvin Concepcion

Thank you. Welcome to the Samsonite Group Fourth Quarter Conference Call. On the call with us today are Kyle Gendreau, Chief Executive Officer; and Tom Pizzuti, Chief Financial Officer.

Before starting today's call, we would like to remind you that any forward-looking statements made on the call involve risks and uncertainties that are subject for the company's provisions as stated in disclaimers in the company's press release and earnings announcement and that actual results can differ materially from those described in the forward-looking statements.

With that, I'll now turn the call over to Kyle.

Kyle Gendreau
CEO & Executive Director

Okay. Thanks, Alvin. Thanks, everyone, for joining us. We're sitting here in New York in our TUMI offices, and we're happy to talk about Q4. I'm on Page 5 of the deck. In Q4, we returned to positive net sales growth for our business. Our net sales increase on a reported basis, 2.2% and approximately 1% on a constant currency basis.

The chart to the right of the page, you can see the sequential improvement that we were talking about as we exited Q2 into Q3 and then

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Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Firefly Aerospace Inc. (FLY) Q4 2025 Earnings Call March 19, 2026 5:00 PM EDT

Company Participants

Michael Sheetz - Director of IR
Jason Kim - CEO & Director
Darren Ma - Chief Financial Officer

Conference Call Participants

Sheila Kahyaoglu - Jefferies LLC, Research Division
Kristine Liwag - Morgan Stanley, Research Division
Sujeeva De Silva - ROTH Capital Partners, LLC, Research Division
Michael Leshock - KeyBanc Capital Markets Inc., Research Division
Colin Canfield - Cantor Fitzgerald & Co., Research Division

Presentation

Operator

Greetings, and welcome to the Firefly Aerospace Fourth Quarter 2025 Financial Results Conference Call. [Operator Instructions] Please note, this conference is being recorded.

I would now like to turn the conference over to Michael Sheetz, Firefly's Director of Investor Relations. Michael, you may begin.

Michael Sheetz
Director of IR

Thank you, operator. Hello there. I'm Michael Sheetz, and welcome to Firefly's Fourth Quarter Financial Results Call. I'm pleased to be joined on the call by CEO, Jason Kim; and CFO, Darren Ma, as we report for the period ending December 31, 2025.

Today's call will include forward-looking statements, including, but not limited to, statements the company will make about its future financial and operating performance, growth strategy and market outlook. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause the actual results and trends to differ materially are set forth in the annual and quarterly reports filed with the SEC. Firefly assumes no obligation to update any forward-looking statements, which speak only as of their respective dates.

Also, in this call, we will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in the fourth quarter 2025 earnings release. Unless otherwise stated, financial information referenced in this call will be non-GAAP. Our earnings press release, SEC filings and a replay of today's call can be found

Dogecoin continues to trade under significant bearish pressure, with its price structure offering little hope for a near-term reversal. The cryptocurrency remains locked in a sustained downtrend, consistently printing lower highs and lower lows — a textbook signal of bearish market dominance.

Recent price action has seen DOGE consolidate between $0.09 and $0.10, yet these levels have failed to attract enough buying interest to generate any meaningful upward momentum. Each recovery attempt has been quickly rejected, confirming that bulls lack the strength needed to shift market direction.

From a technical standpoint, Dogecoin is trading below its 50-day, 100-day, and 200-day exponential moving averages, all of which are sloping downward. These moving averages are acting as dynamic resistance zones, reinforcing the prevailing bearish trend. A credible recovery would require DOGE to reclaim these levels — something the current market structure makes increasingly unlikely in the short term.

Volume and technical momentum are also insufficient to support any sustained bullish breakout. Rather than signaling a reversal, the data points toward continued weakness or, at best, a consolidation phase embedded within the larger downtrend.

The critical level to watch is $0.08. This price zone previously acted as a local bottom where Dogecoin briefly stabilized before staging a weak recovery. Given the deteriorating structure, a retest of this support level appears increasingly probable. Market analysts view a return to $0.08 not necessarily as a breakdown, but as a potential reset — a necessary phase where the asset could build a more solid base before any recovery attempt gains traction.

For investors, managing expectations is essential. Until Dogecoin breaks its pattern of lower highs, reclaims key resistance levels, and shows improved volume, the path of least resistance remains to the downside, with $0.08 serving as the most likely near-term target.

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Bitcoin fell sharply below the $70,000 mark on Thursday, dragging crypto-related stocks lower after the Federal Reserve held interest rates steady between 3.50% and 3.75%. The decision rattled both cryptocurrency and equity markets, with rising geopolitical tensions and persistent inflation fears compounding investor anxiety.

During intraday trading, Bitcoin dropped more than 5%, touching a session low of $69,329 after failing to hold psychological support near $72,000. The breach of that level triggered a wave of selling across major exchanges, pushing the leading cryptocurrency further from its recent high of approximately $75,000.

The market turbulence hit leveraged traders especially hard. According to CoinGlass data, total liquidations across cryptocurrency derivatives markets surpassed $511 million within 24 hours, with long positions accounting for roughly $417 million of those losses. The forced selling intensified downward momentum during peak trading hours.

Several crypto-focused stocks bore the brunt of the selloff. Circle Internet Group fell nearly 10%, trading around $124, though the stock remains up approximately 160% from its yearly low. Analysts see key support near $120, with a potential rally toward $130–$140 if buying momentum returns. Coinbase declined about 3.40%, hovering near $195 and struggling to reclaim the critical $200 threshold. Immediate support is seen around $192.50.

MicroStrategy, which holds approximately 761,068 Bitcoin representing nearly 3.6% of circulating supply, dropped 6.5% as its average acquisition cost of around $75,696 per coin puts some holdings slightly underwater at current prices. Robinhood shares traded near $75, displaying a bearish technical pattern, though its fundamentals remain intact thanks to growing revenues.

Oil prices briefly surged over 2% following the Fed announcement before reversing to trade down around 1%, reflecting the broader shift in global risk appetite. Investors are now closely watching macroeconomic developments for the next major catalyst.

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Crypto traders are pushing back. Professional investors want clearer data on what they’re actually paying when they buy and sell Bitcoin and Ethereum, arguing that murky execution costs are scaring away institutional money and eating into returns across major exchanges.

The complaints center on three big problems that traders say cost them serious cash every day. Slippage hits when your final price doesn’t match what you saw quoted – sometimes costing thousands on large trades. Fees vary wildly between platforms, with some charging flat rates while others use maker-taker models where liquidity providers get rebates but takers pay more. Market fragmentation spreads liquidity thin across dozens of exchanges, making it tough to get the best prices.

Professional traders hate the guesswork.

Jane Smith from Crypto Insights said the lack of standardized cost analysis “basically leaves traders flying blind compared to traditional markets.” She thinks institutional investors won’t commit big money until they can properly measure execution quality. Traditional finance has tools for this stuff – transaction cost analysis breaks down exactly where fees hit and how much slippage you’re eating.

Exchange Response Heats Up Coinbase jumped in first back in February 2026. The exchange launched a proprietary transaction cost analysis tool that shows traders detailed breakdowns of slippage and fees on their trades. CEO Brian Armstrong said it’s part of building trust, though critics wonder if one exchange’s tool really solves industry-wide problems.

Binance followed with its own move in March 2026, rolling out a new liquidity pool designed to reduce fragmentation. CEO Changpeng Zhao said consolidating liquidity from multiple sources should give traders better pricing. But the results aren’t clear yet.

Kraken announced March 10th it’s working with Quantitative Insights to build execution quality reports for users. The partnership aims to give comprehensive views of transaction costs, including hidden fees that traders often miss until after the fact. Industry observers have noted parallels with Powells Oil Price Warning Rattles Bitcoin in recent weeks.

Regulators Start Paying Attention Representative Alex Johnson introduced a bill March 18th requiring U.S.-based exchanges to disclose execution quality metrics. The proposed legislation would mandate transparency that traders have been demanding for years, though it’s still early in the process and faces uncertain prospects in Congress.

The European Union is studying the issue too. ESMA announced March 19th it’s assessing how hidden trading costs impact crypto markets, with findings potentially shaping future EU regulations. That could mean standardized execution quality rules across member states if regulators decide current practices harm investors.

On March 15th, institutional investors sent an open letter to major exchanges pushing for industry-wide standards. The letter argued that only collective action can create the transparency needed for institutional confidence – individual exchange efforts aren’t enough to fix fragmentation problems.

Some exchanges are testing new approaches. Gemini launched a pilot program March 20th for real-time execution quality reporting, giving traders immediate feedback on their trades instead of making them wait for post-trade analysis.

But skepticism runs deep among traders who’ve seen promises before. Without regulatory enforcement, voluntary initiatives might not stick when market conditions get tough or competitive pressures mount. The crypto market’s evolution pretty much depends on whether these execution quality concerns get resolved or keep festering. Industry observers have noted parallels with Bitcoin Climbs But Bull Market Signal in recent weeks.

Trading costs remain a black box for most crypto investors, with no unified approach across the industry despite growing pressure from institutional players who want the same transparency they get in traditional markets.

The institutional pressure extends beyond just individual traders. BlackRock’s crypto division reported in internal memos that execution cost uncertainty has delayed several planned Bitcoin ETF expansions, according to sources familiar with the matter. Fidelity Digital Assets similarly cited “execution transparency gaps” when explaining why some institutional clients remain hesitant to increase crypto allocations beyond pilot programs. Goldman Sachs’ digital assets team has been quietly building internal tools to track crypto execution costs, suggesting major Wall Street players are taking the issue seriously enough to develop their own solutions.

Market makers are feeling the squeeze too. Jump Trading and Alameda Research successors have started offering execution quality guarantees to attract institutional flow, essentially promising to eat costs when slippage exceeds certain thresholds. DRW’s crypto arm launched a “best execution pledge” in late March, committing to route institutional orders through venues that demonstrate measurably better pricing. These moves signal that professional trading firms recognize execution quality as a competitive battleground, not just a regulatory compliance issue.

Frequently Asked QuestionsWhat are the main hidden costs in crypto trading?Slippage, variable exchange fees, and market fragmentation are the primary hidden costs affecting Bitcoin and Ethereum traders.

Are crypto exchanges required to disclose execution quality metrics?No regulatory body currently mandates execution quality disclosure in crypto markets, though U.S. and EU lawmakers are considering new rules.

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In brief Bitcoin has diverged sharply from global M2 growth, with one model suggesting a ~$136,000 fair value versus current levels near $70,000. Analysts say tight U.S. monetary policy is limiting how global liquidity flows into risk assets despite expanding money supply. Rising gasoline prices may offset larger tax refunds, reducing discretionary cash that typically supports equities and crypto. Bitcoin is trading at a steep discount to global liquidity trends, according to new analysis from CF Benchmarks, even as macro headwinds tied to energy prices and monetary policy complicate the outlook for risk assets and economic growth.

Global M2 money supply has risen about 12% since mid-2025, while Bitcoin has fallen roughly 35% over the same period, the Kraken-owned index provider said. 

One model cited in its report, published Thursday, implies a “fair value” of about $136,000, compared with Bitcoin’s current price near $70,000.

The divergence marks one of the largest gaps on record between Bitcoin and a metric long viewed by analysts as a proxy for global liquidity. Historically, expansions in money supply have filtered into risk assets, with Bitcoin often responding more sharply than equities.

“The key takeaway from more than a decade of data is that divergences between M2 and Bitcoin have historically been temporary,” Gabe Selby, Head of Research at CF Benchmarks, told Decrypt in an emailed statement.

Analysts say the missing link is U.S. monetary policy. The Federal Reserve has reduced its balance sheet to around $6.7 trillion from a peak near $9 trillion in 2022 and maintains elevated interest rates, keeping financial conditions tight even as liquidity grows elsewhere.

That backdrop has limited capital flows into markets, leaving Bitcoin more closely tied to real rates and broader risk sentiment than to headline money supply growth.

The elephant in the roomAt the same time, rising energy prices are adding pressure to household finances. 

Economists estimate that an 81-cent increase in U.S. gasoline prices since late February could cost households roughly $740 over the year, potentially offsetting much of the boost from larger tax refunds.

In January, the White House projected that tax refunds for Americans would increase by an average of $1,000 come winter, compared with previous cycles, citing President Donald Trump’s Working Families Tax Cuts Act.

Markets have also focused on potential disruptions to the Strait of Hormuz, a key artery for global oil supply, and the resulting inflationary risks.

Elevated rates and increased oil prices, driven by the U.S.’s ongoing conflict with Iran, have plagued markets in recent weeks, with oil topping $100 a barrel on Thursday before falling back to more modest levels near $92.

It comes as the Fed held interest rates steady on Wednesday, maintaining a cautious stance as rising energy costs complicate its effort to balance persistent inflation with a cooling labour market.

The federal funds rate was left unchanged at a target range of 3.50% to 3.75%, extending a pause that began in January after a series of cuts late last year.

The combination risks dampening discretionary spending and reducing the pool of capital available for investment in higher-risk assets, including cryptocurrencies and growth stocks, should prices remain high.

Still, most experts argue that global economic growth could accelerate again if financial conditions ease and the conflict in the Middle East is contained, providing a major tailwind for crypto.

Past cycles suggest Bitcoin tends to catch up with liquidity trends over a multi-quarter horizon, particularly when the Fed shifts toward rate cuts or slows balance-sheet reduction, according to CF Benchmarks.

The question is when?

Since the Biden administration's post-pandemic stimulus measures, inflation has continued to filter through and wreak havoc on prices for goods and services, while the central bank sought to slash its benchmark rate to boost growth.

Now, markets are contending with that sticky inflation, foreign wars, and monetary tightening, leading to uncertainty among participants about the direction of risk assets. And crypto, which has mostly followed in lockstep with the Nasdaq, remains tied.

“An uptick in demand through the TradFi vehicles that helped drive Bitcoin to all-time highs, namely the U.S.-listed spot Bitcoin ETFs and corporate treasuries, would provide more direct, mechanical support for a trend reversal,” Selby said.

“Ongoing buying from these cohorts represents a source of structural demand that did not exist in prior cycles,” he added.

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Chainlink is showing signs of weakness after a bearish shift in momentum, with sellers gaining the upper hand in the short term. However, the $9.55 level remains a critical pivot, and a successful flip above this resistance could quickly turn the tide back in favor of the bulls and open the door for a stronger recovery.

Bearish Daily Close Signals Rising Selling Pressure The most recent daily candle for both Chainlink and LINKBTC has closed with a bearish bias, signaling a period of short-term exhaustion. According to technical insights from CryptoWzrd, this downward pressure suggests that the asset remains in a vulnerable position. 

However, the path to recovery for Chainlink is heavily dependent on the trajectory of Bitcoin Dominance (BTC.D). A retracement in BTC.D would likely provide the necessary momentum for altcoins, specifically the LINKBTC pair, to pivot to a more bullish stance. This shift in capital flow is essential for LINK to challenge its immediate overhead resistance.

Source: Chart from CryptoWzrd on X From a structural perspective, the $9.50 level remains the critical hurdle for a sustained trend reversal. A successful breach above this resistance would likely ignite an impulsive rally, opening the door for a move toward the $12.00 psychological threshold, with potential for further extension if buy-side volume remains consistent.

Given the current volatility and the proximity to key pivot points, the immediate focus remains on lower-timeframe developments. Thus, the analyst will be closely monitoring the intraday chart by tracking the interaction between price action and micro-support levels to capitalize on early signs of momentum before the broader breakout occurs.

Chainlink Intraday Structure Shows Heightened Volatility CryptoWzrd highlighted that the intraday structure remains bearish and highly volatile, indicating that the price could extend its downside move from the current region before any meaningful recovery takes shape. The lack of clear bullish momentum in the short term suggests that sellers still have the upper hand, making the current environment more reactive than directional.

A continued decline could help price reach a more attractive demand zone, where a bullish reversal may develop, offering a potential long opportunity. However, confirmation will be key, as any upside attempt without strong support could quickly fade. If price pushes back up to retest the $9.55 resistance and shows signs of weakness or rejection, it would present a favorable setup for short positions.

Broader market conditions are also expected to drive price action, with both geopolitical developments and Bitcoin’s movement playing a significant role in shaping sentiment. Any sudden shifts in these factors could accelerate volatility, so traders remain cautious and flexible while closely monitoring key levels.

LINK trading at $9 on the 1D chart | Source: LINKUSDT on Tradingview.com Featured image from Freepik, chart from Tradingview.com

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Solana is now in the spotlight once again as the leading altcoin gains more regulatory standing following its latest classification in the United States legal framework. In a world hampered by strident regulation and strict rules, Solana is emerging as one of the most trustworthy assets in the broader financial sector.

Solana Gains Commodity Status In Latest Filing In a joint move, the US regulatory bodies have issued new regulations on how federal securities laws apply to cryptocurrencies and digital assets. According to the recent joint filing by the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), Solana has been acknowledged as a commodity, which could affect its regulatory status.

The law introduces a formal token taxonomy across five categories. These include digital commodities, digital collectibles, digital tools, stablecoins, and digital securities. As stated by the agencies in the filing, most crypto assets are not themselves securities. Furthermore, it clarifies that staking, mining, airdrops, and token wrapping are examples of operations that are not by definition securities transactions.

Meanwhile, under digital commodities, the US SEC listed multiple crypto assets such as Bitcoin, Ethereum, Solana, and 14 other assets. This ruling completely removes the security label on SOL, making it safe to trade. If the categorization is upheld, it would represent a substantial change in the perception of the asset under US law and may reduce the ambiguity that has long surrounded digital assets.

A New Leader In Stablecoin Volume Following this move, the already robust Solana ecosystem could see increased engagement from investors and developers, triggering more growth. In the blockchain sector, SOL is considered one of the most popular networks for on-chain finance.

CryptoRank, a leading crypto industry researcher and analytics platform, reported that the network has emerged as the new leader in stablecoin volume, signaling growing user adoption. Stablecoin market cap on Solana continues to grow, now exceeding a staggering $316 billion. This massive capital is driven by a rise in payments and cross-border transfers as they gradually replace traditional financial systems.

Source: Chart from CryptoRank on X Taking a look at the chart, SOL in February became the leading network by stablecoin transaction volume, securing over 37% of total volume. The figure surpasses that of Ethereum and Tron combined over the month. Given its high throughput and low fees, this spike points to a larger trend of capital movement toward faster and more effective networks.

In recent months, the analytics platform highlighted that stablecoin utilization alongside volume on the network has been shifting from Tether’s USDT to USDC. As a result, USDC accounts for over 72% of total volume in February. With the significance of stablecoins increasing in the crypto landscape, the growth of SOL in this market indicates a shift in the way value flows across blockchain networks.

SOL trading at $88 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from Unsplash, chart from Tradingview.com

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Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

TL;DR Solana is currently testing the critical support level at $87.00. A breakdown below $87 could trigger a drop toward $75. Holding this support might spark a recovery toward $95 resistance.

TL;DR:

Large-scale investors accumulated 200 million XRP over the last two weeks, raising their total holdings to approximately 11.10 billion tokens. The asset faces a critical demand zone between $1.65 and $1.70, while daily trading volume saw a 41.46% drop to $3.1 billion. Analysts estimate a 65% probability of a bullish breakout if the price manages to consolidate and achieve a weekly close above $1.85. Over the last 14 days, Ripple whales have intensified their buying activity, acquiring millions of units of the token. This market action occurs while the XRP price seeks to stabilize after retreating to a trading point of $1.42.

#XRP – Ascending Triangle vs Zone 1 🔼 (Decision Time) The Clarity Act Measured Move:

🟣The Chart us Saying the following:
▫️ Ascending Triangle forming under Zone 1 ($1.65–$1.70)
▫️ Higher lows = buyers stepping in
▫️ Resistance flat = liquidity sitting above
▫️This is classic… pic.twitter.com/vCVJYmVYXn

— EGRAG CRYPTO (@egragcrypto) March 18, 2026

Currently, the market capitalization stands at $89.93 billion, with a chart structure forming an increasingly narrow consolidation triangle. Despite a 2% drop in the last 24 hours, the constant accumulation suggests that institutional participants are preparing for a potential bullish breakout of current resistances.

Consequently, this buying behavior often precedes volatile movements. Analysts are closely watching “Zone 1” ($1.65), as a sustained weekly close above this level is vital to clearing the path toward more ambitious targets.

Strategic Accumulation and Breakout Signals in XRP As Ripple whales increase their exposure, Santiment on-chain data confirms that the holdings of these wallets rose from 10.81 billion to 11.10 billion coins. This bullish accumulation trend contrasts with the selling pressure observed in exchange flows during previous months.

However, for XRP to reach the $2.5 mark or even “Zone 2” above $2.60, an additional catalyst is required. Factors such as Bitcoin’s stability and potential inflows into ETF-type investment vehicles are fundamental pieces that the market is still waiting to integrate.

In summary, XRP is in a technical compression phase where whale accumulation acts as a fundamental support. If the asset breaks the psychological barrier of $1.85, the scenario for a rally toward $2.5 will gain significantly higher probability.

Bitcoin (BTC 1.18%) has publicly been called dead by well-known commentators at least 471 times since 2010, according to the BitcoinDeaths data aggregator service, and each one of those obituaries was written with conviction. Yet each one was wrong. Now, with the coin still smarting from its painful collapse that started with the Oct. 10, 2025, flash crash, online searches for "Bitcoin going to zero" have once again hit record levels.

But there's a reason the doomsayers keep getting proven incorrect, and the structural floor beneath Bitcoin's price is far sturdier than is generally known -- including in a cheeky technical way that the bears are unlikely to appreciate. Let's explore why Bitcoin is unlikely to ever go to zero.

Image source: Getty Images.

The case against ever going to zero For Bitcoin's price to reach a stone-cold $0.00, all of the largest holders on the planet would need to try to sell it, and then, in the same period, it would be necessary for no buyer to show up at any price.

The existence of price-insensitive buyers with massive amounts of capital on hand mostly rules that out. For instance, the digital asset treasury (DAT) company Strategy, formerly MicroStrategy, holds more than 761,000 coins, roughly 3.6% of all Bitcoin that will ever exist, and it's constantly purchasing more and more regardless of whether the price is up or down.

Today's Change

(

-1.18

%) $

-838.18

Current Price

$

70255.00

Other classes of holders, like governments, Bitcoin exchange-traded fund (ETF) issuers, and corporate treasuries, are also unlikely to completely dump their holdings all at the same time. Plus, an estimated 20% of Bitcoin's supply is permanently lost, so it simply can't be sold.

Furthermore, the coin has already suffered multiple 80% declines, after which it formed a price floor, attracted new buyers, and eventually recovered to set new all-time highs. In March 2020, Bitcoin lost roughly half its value in a week as pandemic panic triggered global liquidation, and it recovered within months.

Buyers of last resort are already in position The final reason that Bitcoin will never go to zero is that some of Bitcoin's most ardent and longtime evangelists, like Blockstream CEO Adam Back, have taken it upon themselves to guarantee that it's simply impossible as long as the crypto market's basic infrastructure is still functioning.

They've publicly placed standing buy orders at rock-bottom prices, such as $0.01 and $0.02 per coin, on major crypto exchanges. Those orders have been known about for a handful of years already, and they're mostly intended as jokes. Joke or not, the point is that people with plenty of capital are on standby to scoop up vast quantities of cheap coins, and the cheaper the coins get, the more they'll be willing to buy.

So don't get fixated on the risk of Bitcoin going to zero; it's not going to happen. Of course, it could still go down by quite a lot, so be sure to keep your portfolio diversified regardless.

Evernorth is advancing a billion-dollar XRP treasury strategy toward a Nasdaq listing, backed by Ripple and structured to deliver regulated, large-scale institutional exposure to XRP through a public market vehicle.

Coinbase Asset Management (CBAM) is taking a significant step in institutional crypto finance by launching a tokenized share class of its Bitcoin Yield Fund on the Base network — Coinbase's Ethereum-based blockchain. The move is being executed in partnership with Apex Group, a leading fund administrator overseeing $3.5 trillion in assets, which will continue serving as transfer agent to keep records aligned with the fund's net asset value.

This development reflects a broader trend reshaping global capital markets. Major asset managers like BlackRock, Fidelity, and Franklin Templeton have already introduced tokenized funds, driven by the promise of faster settlement, lower operational costs, and expanded distribution. Tokenization is widely regarded as the next evolution in how traditional financial instruments — including bonds, equities, and funds — are traded and managed on blockchain infrastructure.

Brett Tejpaul, head of Coinbase Institutional, explained that institutional investors are no longer just betting on bitcoin price appreciation. Increasingly, they want compounding returns while holding their positions. The Bitcoin Yield Fund addresses this demand through strategies like selling call options and participating in lending arrangements, allowing investors to earn yield while their underlying bitcoin holdings appreciate over time.

The tokenized share class uses the ERC-3643 token standard, which embeds compliance checks directly into the token itself. Only wallets that have passed an identity verification process can hold or transfer the asset, replacing manual compliance reviews with automated, on-chain rules. Failed transactions are blocked at the protocol level, reducing friction for institutional participants.

Apex's involvement adds further credibility to the initiative. The firm acquired Tokeny — a tokenization specialist responsible for over $32 billion in tokenized assets — and has announced plans to tokenize $100 billion in funds using the T-REX Ledger by June 2027.

Currently available to non-U.S. investors, CBAM has confirmed plans to launch a tokenized version for U.S. investors as well.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

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The recent Bitcoin price rebound has reignited optimism, but not everyone is convinced the market has turned around. While price has shown signs of a breakout, a crypto analyst notes that BTC’s macro setup still resembles a typical bear market structure. The key question remains whether the recent upside move signals a true price bottom or simply another temporary rally before further downside. 

Why The Bitcoin Price Breakout Is Not A Bullish Reversal In an X post on Tuesday, March 17, crypto analyst Ardi argued that traders are misinterpreting Bitcoin’s recent rally above $75,000 by assuming that any breakout automatically signals the end of a bear market. He explained that these types of price spikes are part of how bear markets typically function. 

The analyst noted that breakouts usually form macro lower highs during a downtrend. He emphasized that these price rallies can appear strong at first, but they usually don’t last and tend to set the stage for the next downward move. 

Backing this up, Ardi pointed to Bitcoin’s price action in 2018 and 2022 as a clear example. After reaching all-time highs in both years, the market entered a steady decline, creating a series of lower highs. He noted that in both bear market cycles, there were approximately five relief rallies. 

Source: Chart from Ardi on X Sharing a chart showing Bitcoin’s rebounds during the 2022 bear market, the analyst showed that the cryptocurrency experienced sharp spikes in January, April, June, August, and November. Each of these rebounds had temporarily pushed the price up, but none reversed the overall downtrend. He added that at every bounce, selling pressure returned, driving the market even lower. 

Ardi noted that this recent spike is the first bounce Bitcoin has experienced in five months, so its timing is not unexpected. He also highlighted that many traders have already adjusted their outlook, closing bearish positions after just one green run. In his view, this reaction shows a lack of a well-grounded trading thesis. 

Analyst Reveals What Actually Confirms A Bottom When asked about the basis for his bearish outlook, Ardi rejected the idea that Bitcoin’s behavior is only tied to the four-year cycle theory. The analyst said that bear markets are not dependent on this cyclical concept and would exist regardless of the narrative. He emphasized that market structure and time-based patterns carry more weight.  

Ardi explained that a typical market includes roughly three years of upward movement, followed by a shorter phase of decline or consolidation. This period generally lasts 9 to 12 months and is characterized by lower volatility and sideways price action. During this period, the market develops the conditions necessary for a longer-term reversal.  

The crypto analyst also outlined specific levels that Bitcoin would need to reclaim before he would consider a bottom and a subsequent bullish shift.  He noted that the cryptocurrency would have to move above $85,000 and then surpass $96,000 by more than 3% to indicate a genuine change in momentum. 

Without meeting at least one of these conditions, he believes the market has not provided enough evidence to support a sustained upward move. Until that happens, Ardi maintains that Bitcoin’s price bounce does not confirm a market bottom. The 2022 bear market chart demonstrates that multiple rallies can occur within a broader downtrend, and that short-term strength alone isn’t enough to signal a lasting price reversal.

BTC trading at $70,128 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com

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Nyxoah SA (NYXH) Q4 2025 Earnings Call March 19, 2026 4:30 PM EDT

Company Participants

Pearson Dennis
Olivier Taelman - CEO & Executive Director
John Landry - Chief Financial Officer

Conference Call Participants

Adam Maeder - Piper Sandler & Co., Research Division
Jonathan Block - Stifel, Nicolaus & Company, Incorporated, Research Division
Suraj Kalia - Oppenheimer & Co. Inc., Research Division
Tommy Han - Robert W. Baird & Co. Incorporated, Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to the Nyxoah Fourth Quarter Full Year 2025 Earnings Conference Call. [Operator Instructions] Please be advised that today's call is being recorded.

I'd now like to hand over to our first speaker today, Pearson Dennis, Investor Relations Associate. Please go ahead.

Pearson Dennis

Thank you. Good afternoon, everyone, and I welcome you to our fourth quarter and full year 2025 earnings call. Participating from the company today will be Olivier Taelman, Chief Executive Officer; and John Landry, Chief Financial Officer.

During the call, we will discuss our operating activities and review our fourth quarter 2025 financial results released after U.S. market closing today. After which we will host a question-and-answer session. The press release can be found on the Investor Relations section of our website. This call is being recorded and will be archived in the Events section on the Investor Relations tab of our website.

Before we begin, I'd like to remind you that any statements that relate to expectations or predictions of future events, market trends, results or performance are forward-looking statements. All forward-looking statements are based upon our current estimates and various assumptions. These forward-looking statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements. All forward-looking statements are based upon current available information, and the company assumes

SAN FRANCISCO, March 19, 2026 (GLOBE NEWSWIRE) -- A securities class action lawsuit has been filed against Soleno Therapeutics, Inc. (NASDAQ: SLNO) seeking to represent investors who purchased Soleno common stock between March 26, 2025 and November 4, 2025.

The lawsuit follows Soleno’s November 5, 2025 report of disappointing information about DCCR (trademarked as VYKAT™ XR), a once-daily oral tablet intended to treat hyperphagia. Soleno has described this condition as “the most life-limiting aspect” of Prader-Willi Syndrome (“PWS”), a rare genetic disorder that causes physical, mental, and behavioral problems.

The report triggered a massive 26% selloff in the price of the company shares that day.

The development and severe market reaction have prompted national shareholders rights firm Hagens Berman to continue its investigation into whether Soleno violated the federal securities laws.

The firm urges investors in Soleno who suffered significant losses to submit your losses now.

Class Period: Mar. 26, 2025 – Nov. 4, 2025
Lead Plaintiff Deadline: May 5, 2026
Visit: www.hbsslaw.com/investor-fraud/slno
Contact the Firm Now: [email protected]
                                        844-916-0895

Soleno Therapeutics, Inc. (SLNO) Securities Class Action:

The litigation focuses on the propriety of Soleno’s repeated statements concerning the safety, efficacy, and commercial prospects of DCCR. These included assurances that the launch of DCCR has been going “really well[]” and “definitely exceeded our expectations.”

More specifically, according to the lawsuit, the Soleno Phase 3 clinical program for DCCR had systematically downplayed, misrepresented, and/or concealed significant evidence of safety concerns potentially related to the administration of DCCR, including issues related to excess fluid retention in clinical trial participants. As a result, the administration of DCCR to treat hyperphagia in individuals with PWS posed significantly greater safety risks than disclosed by Soleno and its executives. The complaint further alleges that, due to the foregoing, DCCR had materially lower commercial viability and undisclosed risks about the likelihood of significant and widespread adverse events after its commercial launch.

Investors began to learn the truth back on August 15, 2025, when activist short seller Scorpion Capital raised questions about Soleno's disclosures and made several observations regarding VYKAT™ XR.

The firm noted a "rapid pile-up of reports of children hospitalized for potential heart failure" shortly after using the drug, leading Scorpion to conclude that VYKAT™ XR could be at risk of being withdrawn from the market or that new prescriptions might "plunge."

Furthermore, Scorpion alleged that Soleno's "launch metrics are hocus-pocus," claiming that the company was highly dependent on a "controversial physician" in Gainesville, Florida, who was the lead investigator on key trials. The report suggested this physician might be an "invisible hand fueling initial start forms."

Finally, Scorpion raised concerns about the physician's co-authored papers, alleging that they "exhibit irregularities consistent with red flags for data integrity and adherence to scientific standards, casting doubt onto the validity of SLNO’s trials, publications, and FDA submissions."

Most recently, during Soleno’s November 4, 2025 Q3 2025 earnings call, the company’s management revealed that “we did see a disruption in our launch trajectory in the wake of a short seller report that was released in August, mostly in the form of a lower number of start forms and increased discontinuations for non-serious adverse events.”

Since August 14, 2025 (the day before Scorpion published its report), by November 5, 2025 the price of Soleno shares has fallen nearly 40%.

“We’re investigating whether Soleno may have misled investors about the support it has said it has about the commercial prospects of VYKAT™ XR,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Soleno and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Soleno case and the firm’s investigation, read more »

Whistleblowers: Persons with non-public information regarding Soleno should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895

SUNNYVALE, Calif., March 19, 2026 (GLOBE NEWSWIRE) -- BioCardia®, Inc. [NASDAQ:BCDA], a developer of cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases, today announced it will provide a corporate update and report its financial results for the year ended December 31, 2025 by conference call on Tuesday, March 24, 2026 at 4:30 PM EDT. Following management's formal remarks, there will be a question-and-answer session.

, /PRNewswire/ -- 

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Kyndryl Holdings, Inc. (NYSE: KD) between August 7, 2024 and February 9, 2026, both dates inclusive (the "Class Period"), of the important April 13, 2026 lead plaintiff deadline in the securities class action first filed by the Firm.

So what: If you purchased Kyndryl securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Kyndryl class action, go to https://rosenlegal.com/submit-form/?case_id=38139 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Kyndryl's financial statements issued during the Class Period were materially misstated; (2) Kyndryl lacked adequate internal controls and at times materially understated issues with its internal controls; (3) as a result, Kyndryl would be unable to timely file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2025; and (4) as a result, defendants' statements about Kyndryl's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages. 

To join the Kyndryl class action, go to https://rosenlegal.com/submit-form/?case_id=38139 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

March 19, 2026 19:53 ET  | Source: Maxim Power Corp

CALGARY, Alberta, March 19, 2026 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX: MXG) announced today the release of financial and operating results for the fourth quarter ended December 31, 2025. The audited consolidated financial statements, accompanying notes and Management’s Discussion and Analysis (“MD&A”) will be available on SEDAR+ and on MAXIM's website on March 19, 2026. All figures reported herein are Canadian dollars unless otherwise stated.

FINANCIAL HIGHLIGHTS

 Three Months Ended
December 31,Twelve Months Ended
December 31,($ in thousands except per share amounts)2025 2024 2025 2024 Revenue17,966 24,048 86,873 101,482 Net income (loss)2,422 (341)16,694 21,946 Earnings (loss) per share – basic0.04 (0.01)0.26 0.42 Earnings (loss) per share – diluted0.04 (0.01)0.26 0.38 Adjusted EBITDA(1)6,007 5,647 28,813 38,531 Total generation – (MWh)312,769 425,486 1,596,541 1,733,267 Total fuel consumption – (GJ)2,731,215 3,514,660 13,262,203 14,221,985 Average Alberta market power price ($ per MWh)43.27 51.52 43.74 62.78 Average realized power price ($ per MWh)57.44 56.52 54.41 58.55 Loans and borrowings- - - - Total net debt (net cash)(1)(56,917)(30,068)(56,917)(30,068)Total assets383,424 359,098 383,424 359,908 Free cash flow(1)2,454 (1,016)17,521 28,763 (1) Select financial information was derived from the consolidated financial statements and is prepared in accordance with GAAP, except certain non-GAAP measures including: free cash flow (“FCF”), adjusted Earnings before Interest, Income Taxes, Depreciation and Amortization (“Adjusted EBITDA”) and total net debt, (see Non-GAAP Financial Measures below). Total net debt is included in the notes to the annual consolidated financial statements. Net debt is calculated to include: loans and borrowings less unrestricted cash.
OPERATING RESULTS

During 2025, MAXIM recorded net income and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”(1)) of $16.7 million and $28.8 million, respectively, as compared to net income and Adjusted EBITDA(1) of $21.9 million and $38.5 million, respectively, in the same period of 2024. Net income and Adjusted EBITDA(1) decreased in 2025 primarily due to lower generation volumes, as a result of a planned maintenance outage in the fourth quarter of 2025, and a lower realized average power price. Net income further decreased due to unrealized losses on commodity swaps, partially offset by other income and lower financing expenses.

PRAIRIE LIGHTS POWER PROJECT

On February 9, 2026, MAXIM entered into a gas turbine and generator reservation agreement (the “Reservation Agreement”) with GE Vernova. The Reservation Agreement allows MAXIM to hold a manufacturing slot for a 7HA.02 gas turbine and generator package (the “Gas Turbine”) with a target delivery by 2030. To hold this manufacturing slot, MAXIM is required to provide a non-refundable deposit which is payable in 2026. Under the Reservation Agreement, the parties agree to negotiate in good faith to reach a definitive sales agreement for the purchase of the Gas Turbine. The purchase price for the Gas Turbine will be agreed to in the definitive agreement, and the deposit will be credited towards the final purchase price.

MAXIM is securing this unit manufacturing slot for its permitted 400 MW Prairie Lights Power project (“Prairie Lights”) located near Grande Prairie, Alberta. An amendment to the Prairie Lights regulatory permits will be required based on the Gas Turbine selected and its corresponding delivery schedule. The 7HA.02 gas turbine is an updated model of the currently approved gas turbine within the Prairie Lights regulatory permits and as such the amendment is anticipated to be routine in nature. The Corporation continues to advance all aspects of project development for Prairie Lights and anticipates total project spending during 2026 of up to $60 million.

CLAIMS AND INSURANCE MATTERS

On November 24, 2025, MAXIM successfully settled a portion of its claim for compensation against third-parties in relation to the non-injury fire at M2 on September 30, 2022, which caused damage to M2’s air inlet filter house (the “Claim”). The Claim was filed in 2024 against multiple third parties and this settlement is with one of those parties. MAXIM’s portion of the settlement, net of fees, is $6.5 million. The amount represents the maximum net amount available from the insurance policy of the third party who has agreed to settle.

In addition, MAXIM continues to pursue its Claim against the remaining third parties. The Corporation understands that the collective amount of the insurance policies, for the remaining third parties involved in the Claim, is equivalent to the amount paid out as part of the settlement announced on November 24, 2025. As of the date hereof, the precise amount and timing of any further compensation related to the Claim, if any, cannot be determined.

As previously reported, MAXIM submitted an additional insurance claim for a delay in start up related to the non-injury fire under its course of construction insurance policy, which includes a provision for delay in start up coverage relating to the combined cycle gas turbine expansion of M2. The insurer denied coverage under this policy, which the Corporation is disputing by way of arbitration. The amount of the dispute was previously $25.0 million and has increased to $32.0 million. The outcome of any arbitration, including the timing thereof and any reward therefrom is uncertain and has not been recognized by the Corporation in the financial statements.

NON-GAAP FINANCIAL MEASURES

Management evaluates MAXIM’s performance using a variety of measures. Adjusted EBITDA and FCF, as discussed below are non-GAAP measures and should not be considered as an alternative to or to be more meaningful than net income of the Corporation, as determined in accordance with GAAP, when assessing MAXIM’s financial performance or liquidity. These measures do not have any standardized meaning prescribed by GAAP and may not be comparable to similar measures presented by other companies.

Adjusted EBITDA

Adjusted EBITDA is provided to assist management and investors in determining the Corporation’s approximate operating cash flows attributable to shareholders before finance expense, income taxes, depreciation and amortization, and certain other non-recurring or non-cash income and expenses. Financing expense, income taxes, depreciation and amortization are excluded from the Adjusted EBITDA calculation, as they do not represent cash expenditures that are directly affected by operations. Management believes that presentation of this non-GAAP measure provides useful information to investors and shareholders as it assists in the evaluation of performance trends. Management uses Adjusted EBITDA to compare financial results among reporting periods and to evaluate MAXIM’s operating performance and ability to generate funds from operating activities.

  Three months endedTwelve months ended  December 31December 31($000's) 2025 2024 2025 2024 GAAP Measures from Consolidated Statement of Operations        Net income (loss)2,422 (341)16,694 21,946 Income tax expense609 205 1,548 6,175 Finance expense (income), net (790)737 (1,446)3,892 Depreciation and amortization 3,916 3,660 15,605 14,563  6,157 4,261 32,401 46,576 Adjustments:           Other expense (income) (7,176)76 (11,641)(2,961)Settlement proceeds 6,454 - 6,454 - Unrealized loss (gain) on commodity swaps262 309 462 (6,887)Share-based compensation 310 1,001 1,137 1,803 Adjusted EBITDA6,007 5,647 28,813 38,531           Adjusted EBITDA is calculated as described above from its most directly comparable GAAP measure, net income, and adjusts for specific items that are not reflective of the Corporation’s underlying operations and excludes other non-cash items.

In calculating Adjusted EBITDA for the three and twelve months ended December 31, 2025 and December 31, 2024 management excluded certain non-cash and non-recurring transactions. In both 2025 and 2024, Adjusted EBITDA excluded unrealized gains or losses on commodity swaps, share-based compensation and all items of other income except for settlement proceeds as it reflects a portion of earnings that would have been earned if M2 was operational.

Free Cash Flow

  Three months endedTwelve months ended  December 31December 31($000's) 2025 2024 2025 2024      Funds generated from operating activities before change in non-cash working capital6,480 4,265 30,096 41,791 Property, plant and equipment additions(4,376)(3,726)(13,799)(7,192)Repayment of loans and borrowings- (1,500)- (3,638)Interest expense and bank charges(41)(746)(227)(6,634)Interest income391 691 1,451 4,436 Free cash flow2,454 (1,016)17,521 28,763           FCF is calculated as described above from its most directly comparable GAAP measure from the Statement of Cash Flows, the funds generated from operating activities before change in non-cash working capital, and adjusts for specific items that are reflective of the Corporation’s underlying FCF. FCF is an important metric as it represents the amount of cash that is available to potentially invest in growth initiatives, pay dividends and repurchase shares. In calculating FCF for the three and twelve months ended December 31, 2025 and December 31, 2024, management uses the funds generated from operating activities before change in non-cash working capital for the period and deducts property, plant and equipment additions, repayment of loans and borrowings, interest expense and bank charges and adds interest income.

About MAXIM

Based in Calgary, Alberta, MAXIM is one of Canada’s largest truly independent power producers. MAXIM is now focused entirely on power projects in Alberta. Its core asset – the 300 MW H.R. Milner Plant, M2, in Grande Cache, AB – is a state-of-the-art combined cycle gas-fired power plant that commissioned in Q4, 2023. MAXIM continues to explore additional development options in Alberta including its currently permitted gas-fired generation project and the permitting of its wind power generation project. MAXIM trades on the TSX under the symbol “MXG”. For more information about MAXIM, visit our website at www.maximpowercorp.com. For further information please contact:

Bob Emmott, President and CEO, (403) 263-3021

Kyle Mitton, CFO and Vice President, Corporate Development, (403) 263-3021

Forward-looking statements

This press release contains forward-looking statements and forward-looking information (collectively "forward looking information") within the meaning of applicable securities laws relating to MAXIM's plans and other aspects of MAXIM's anticipated future operations, management focus, objectives, strategies, financial, operating and production results. Forward-looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend", "may", "would", "could" or "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. Specifically, this press release contains forward-looking statements concerning, among other things, statements relating to the timing of delivery of the gas turbine package, location of installation, amendments to permits, intent to execute a gas turbine and generator sales agreement, capital spending on the Prairie Lights project and the precise amount and timing of any further compensation related to the Claim.

MAXIM's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that MAXIM will derive there from. Risk factors include that MAXIM will retain sufficient liquidity to maintain operations and continue to invest in its development portfolio, including the Prairie Lights project and that it will be able to successfully fund or finance the reservation agreement deposit and capital spending for the Prairie Lights project, or the final purchase price for the turbine. Additional information on these and other factors that could affect MAXIM’s business, operations or financial results are included in the reports on file with applicable securities regulatory authorities, including but not limited to MAXIM’s Annual Information Form for the year ended December 31, 2025, which may be accessed on MAXIM’s SEDAR+ profile at www.sedarplus.ca. These forward-looking statements are made as of the date of this press release and MAXIM disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.