Market Signal Briefing

Bitcoin is once again under intense pressure as one of the market’s most well-known long-term holders offloaded hundreds of millions of dollars’ worth of BTC within a few days. The aggressive reduction in long-held supply has reignited fears of a deeper correction, especially as institutional demand weakens and ETF flows turn negative. With the broader market already showing caution, traders are now preparing for the possibility of a drop toward the $96,000 region or even lower.

This week’s developments reflect the rapidly shifting sentiment that has characterized the second half of 2025. Despite Bitcoin reaching a record high of $126,000 in October, the market continues to struggle under the combined weight of weakening inflows, macro uncertainty, and heavy distribution from long-term holders.

A Major Bitcoin Whale Cuts Holdings Dramatically
Owen Gunden, a veteran Bitcoin holder often classified as an “OG whale,” has triggered fresh debate among analysts after unloading another 700 BTC through Kraken on 11 November. His total sell-off for the week climbed to 1,800 BTC, valued at approximately $200 million.

This activity forms part of a broader pattern that began in early October. Gunden, who previously held over 11,000 BTC worth roughly $1.4 billion, has steadily reduced his position to around 5,350 BTC. His remaining holdings now stand near $560 million, marking one of the largest individual reductions by a long-term holder in recent years.

While Gunden’s wallet is close to being significantly depleted, analysts warn that he is not the only large investor engaging in heavy distribution. Several other long-term holders have also been reducing exposure, contributing to weakening market structure at a time when support from institutional buyers is already strained.

Long-Term Holders Offload $43 Billion in Bitcoin
On-chain data shows that the recent activity is not an isolated event. Long-term holders (LTHs), defined as wallets holding BTC for more than five months, have sold approximately 414,000 BTC on a monthly average in November. That supply — valued at about $43 billion — represents one of the most intense periods of distribution in the asset’s history.

The sell-off trend began in July and accelerated sharply in October, creating significant headwinds for Bitcoin’s price. Since the beginning of the second half of the year, BTC has fallen from its peak of $126,000 to just above the $100,000 level.

Historical data shows that large-scale distribution from long-term holders does not always result in immediate price declines. In fact, Bitcoin reached its all-time high in October even as whale selling was underway. This led many analysts to argue that sufficient demand existed at the time to absorb the sell pressure without impacting price stability.

However, the market environment has changed rapidly. Demand that once came from ETFs and corporate treasury allocations has weakened significantly. Without these strong inflows, the market has become more sensitive to any major supply shock, giving the recent distribution a greater impact on price.

ETF Outflows Add to the Downward Pressure
One of the most concerning angles for analysts is the shift in ETF behavior. Throughout early and mid-2025, ETFs played a major role in supporting Bitcoin’s run toward $126K. Their steady buying created a strong cushion against selling activity from larger holders.

That trend has now reversed. Over recent weeks, ETF flows have turned increasingly negative, reaching outflows of 31,000 BTC in November alone. This shift mirrors the sour market sentiment that dominated early 2025 during the tariff war environment.

This reduction in institutional participation leaves the market exposed. With fewer buyers willing to absorb supply, each major sell-off from whales exerts greater downward pressure. As a result, analysts warn that Bitcoin’s momentum could remain fragile unless ETF inflows return and reignite demand.

Options Market Shows Rising Fear Among Traders
Alongside on-chain activity, the Options market is sending a clear signal: traders are preparing for more volatility. As of now, Bitcoin is trading near $105,000, but Options volumes suggest growing uncertainty among both short-term and long-term market participants.

Recent data shows a sharp increase in put buying — contracts that profit when prices fall. Many traders have targeted levels as low as $85,000 for late December, reflecting widespread concerns that BTC may face more turbulence through the end of the year.

For Options expiring at the end of November, a notable rise in hedging activity indicates that traders expect the price to potentially revisit the $96,000 region. That price has emerged as a major psychological and technical level, representing an area where many investors expect buyers to step in if a sharper correction occurs.

Interestingly, the only significant call buying over the past 24 hours has occurred around the $108,000 mark. This suggests that while some traders still anticipate short-term rebounds, the overall expectation leans toward continued weakness unless market conditions improve.

Can Bitcoin Recover From the Current Pressure?
The path forward largely depends on demand, particularly from ETFs and institutional buyers. If inflows return, Bitcoin could regain its footing and potentially stabilize above the $100,000 level. Historically, rising institutional activity has played a key role in shaping long-term market direction.

However, without renewed demand, the combination of whale selling, weakening sentiment, and increased hedging may continue to weigh on the price. Analysts note that the next major move will likely be determined by how quickly ETF flows recover — or whether they continue to drain liquidity from the market.

Conclusion
Bitcoin’s current downturn reflects a complex and rapidly changing environment. The large-scale selling by long-term holders, especially influential whales like Owen Gunden, has raised new concerns about market stability. Combined with ETF outflows and heightened caution in the Options market, the pressure on BTC remains significant.

Whether Bitcoin stabilizes or moves toward the $96K region depends heavily on demand returning from institutional channels. Until then, traders may continue to brace for volatility as the market navigates one of the most challenging phases of 2025.

If you’d like, I can generate accompanying social media captions, schema markup, or keywords for Google News optimization.

Post Views: 6

In a significant move for the cryptocurrency industry, the dYdX community has endorsed a strategy to allocate 75% of its protocol revenue for the repurchase of DYDX tokens. This decision empowers the protocol to reacquire up to 5% of the overall DYDX supply each year, marking a pivotal shift in how the platform manages its economic model.

dYdX, a prominent player in the decentralized finance (DeFi) sector, operates as a decentralized exchange (DEX) specializing in derivatives trading. By approving this new proposal, stakeholders aim to enhance the token’s value and potentially stabilize its market presence. The decision comes amidst a broader trend in the cryptocurrency market where platforms are increasingly focusing on token buybacks as a mechanism to drive value and reward stakeholders.

Historically, token buybacks are employed to reduce supply, thereby potentially boosting demand and price stability. This strategy mirrors practices seen in traditional finance where companies repurchase shares to increase shareholder value. For dYdX, this move is not just about economics but also about reinforcing community trust and engagement, as community members are directly involved in decision-making processes that shape the platform’s future.

The approved measure will see a substantial portion of the protocol’s income redirected to these buybacks. With the ability to purchase up to 5% of DYDX’s total supply annually, the initiative aims to strengthen the token’s market position and could lead to an appreciation in its value. For the community and investors, this buyback plan signals a commitment to long-term value creation and sustainability of the token’s ecosystem.

However, this strategy does not come without risks. Critics argue that while buybacks can lead to short-term gains in token price, they might not address underlying issues such as user growth or market expansion. Moreover, the reliance on buybacks can divert resources away from other critical areas such as technology upgrades or marketing efforts, which are essential for attracting new users and maintaining competitive advantage.

The decision also reflects a growing trend within the DeFi landscape, where governance and community involvement are becoming pivotal. In the case of dYdX, the community’s vote underscores its active role in steering the platform’s strategic directions. This participatory approach forms the backbone of many decentralized platforms, offering a stark contrast to traditional corporate structures where decision-making is often top-down.

To understand the impact of this decision, one must consider the broader context of the cryptocurrency market. DeFi platforms, like dYdX, have been at the forefront of financial innovation, providing users with alternatives to traditional financial services. These platforms offer a range of products such as lending, borrowing, and trading, without the need for intermediaries. As of late 2023, the DeFi market had grown to a multi-billion-dollar industry, with dYdX being one of the key players.

The buyback initiative can also be seen as a competitive maneuver. With numerous DeFi platforms vying for market share, strategic financial decisions such as these can differentiate one platform from another. By reinforcing token value through buybacks, dYdX can potentially attract more investors and traders looking for stable and rewarding investment opportunities.

Yet, the efficacy of this approach remains to be seen. Success is contingent on various factors including market conditions, competition, and the platform’s ability to innovate and adapt. While token buybacks can enhance perceived value, they are part of a broader strategic framework that requires balance and foresight. If not managed well, the focus on buybacks might overshadow other growth-oriented initiatives.

The dYdX community’s decision is also a reflection of the platform’s maturity. As the DeFi sector evolves, platforms like dYdX are striving to establish sustainable economic models that can withstand market volatility. The decision to utilize a significant portion of revenue for buybacks indicates a move towards fostering a stable ecosystem where user interests are aligned with platform growth.

Moreover, this strategy may set a precedent for other DeFi platforms. As the market matures, we could see a surge in similar initiatives, with protocols looking to increase token value and solidify user loyalty. The ripple effect of such strategies could lead to widespread shifts in how DeFi platforms operate, potentially encouraging more community-driven decision-making processes.

In conclusion, while the dYdX community’s decision to allocate 75% of its revenue for token buybacks is a bold and calculated move, it serves as a reminder of the delicate balance between immediate financial incentives and long-term strategic goals. As the cryptocurrency landscape continues to evolve, platforms must remain agile, ensuring that their strategies are adaptable to the ever-changing market dynamics. With its latest move, dYdX is positioning itself not just as a leader in derivative trading but as a pioneer in community-led financial governance.

Post Views: 6

On today's episode of CNBC Crypto World, bitcoin and ether fall while XRP rises as the first spot XRP ETF in the U.S. starts trading on the Nasdaq. Plus, Grayscale files to list on the New York Stock Exchange.

TLDR

The first U.S. spot XRP ETF, XRPC, launched today on Nasdaq, marking a key moment for XRP’s market expansion.
Zach Rector forecasts XRP price could reach $10.70 per token in a conservative scenario by 2027.
In a bullish scenario, XRP could see a $1 trillion market cap, pushing its price to $19 to $20 per token.
Initial ETF inflows of $5 to $10 billion could trigger substantial growth in XRP’s market cap.
XRP price has risen 3.77% in the past 24 hours, now trading at $2.51 with a market cap of $151.24 billion.

The launch of the first U.S. spot XRP ETF today signals a turning point for XRP price predictions. Canary Capital’s XRPC ETF is now live on Nasdaq, sparking discussions on XRP’s future market growth. Analysts are recalculating their forecasts for XRP’s valuation following this historic event.

Rector’s Conservative Forecast for XRP Price Growth
Zach Rector, a well-known finance commentator, shared a forecast based on the new ETF launch. He predicts that XRP could see a market cap increase of $500 billion by 2027. If this happens, XRP price may rise to $10.70 per token.

Rector’s conservative outlook assumes steady ETF inflows, similar to trends seen with Bitcoin. His analysis suggests that $5 to $10 billion in initial inflows would result in this $500 billion growth. The multiplier effect of these inflows could help XRP achieve this forecasted value.

In his more optimistic projection, Rector expects XRP’s market capitalization to reach $1 trillion. This would push XRP price to an estimated range of $19 to $20 per token. The strength and speed of ETF inflows will be crucial in determining how quickly this potential is realized.

Rector’s bullish scenario draws parallels with Bitcoin’s market performance after its ETF launch earlier this year. With a 100x multiplier on ETF inflows, XRP could experience rapid price appreciation. The flow of institutional capital will play a pivotal role in this growth trajectory.

Rector’s outlook is consistent with predictions made by other analysts in the field. In August, crypto analyst Kenny Nguyen suggested XRP could trade between $22 and $50 once ETFs went live. Similarly, Steven McClurg, CEO of Canary Capital, estimated that $5 to $10 billion in inflows could push XRP price towards $26.

These earlier predictions align closely with Rector’s forecast, reinforcing the potential for large market shifts. Analysts agree that even modest institutional participation could revalue XRP by hundreds of billions. The growing institutional interest in XRP ETFs points to a major shift in the asset’s market outlook.

XRP ETF and Market Integration
The approval of the XRPC ETF represents a major step in integrating XRP into traditional finance. This marks the first pure XRP spot ETF to gain regulatory clearance in the U.S. As more ETFs from other issuers prepare for launch, XRP’s market cap could grow substantially.

While Bitcoin’s ETF launch saw a $1.76 trillion increase in market capitalization, Ethereum’s ETF inflows have not caused a significant price surge. This shows that ETF inflows alone may not always lead to rapid price appreciation across all assets, including XRP.

XRP’s price has already risen slightly, up 3.77% over the past 24 hours. Currently trading at $2.51, XRP’s market cap stands at $151.24 billion, signaling optimism for future price growth. The launch of the XRPC ETF sets the stage for XRP’s next valuation cycle, but the impact on price will depend on broader market conditions and institutional sentiment.

According to reports, a bipartisan draft bill in the US Senate has reignited arguments about whether XRP is a commodity or a security.

The Bipartisan Market Structure Draft would divide oversight: the Commodity Futures Trading Commission would police digital commodities like XRP and Bitcoin, while the Securities and Exchange Commission would keep authority over traditional securities.

Proponents say the move could remove years of legal uncertainty for many tokens.

Durham Study Frames XRP As Commodity
Based on reports, academic work from Durham University has entered the debate. Ludovico Rella published a paper in the Journal Of Cultural Economy five years ago that examined how money works as both a tool and a social system.

Rella used Ripple and XRP as main examples and described XRP as a “radical form of commodity money.” He also used the term “digital metallism” to show how XRP can be seen as a self-standing asset that holds value without relying on company liabilities or shares.

What stands out most is his vivid description of XRP as “like gold in your hands” — a digital asset designed to be “the most liquid of assets on the XRP Ledger.”

Source: Ludovico Rella (2020): Steps towards an ecology of money infrastructures: materiality and cultures of Ripple, Journal of Cultural Economy.
XRP’s Dual Role In Payments
Rella argued that XRP plays two clear roles. It behaves like a digital asset with commodity-like traits and it also serves as part of Ripple’s payment network, acting as a bridge asset for moving money across borders.

The study traces Ripple’s path from a trust-based mutual credit system to a blockchain-powered payments network focused on speed and liquidity. That historical arc helps explain why some users treat XRP as an independent store of value while others use it as a tool for cross-border transfers.

XRPUSD now trading at $2.49. Chart: TradingView
Lawmakers Push For Clarity
Reports have disclosed that senators behind the draft want to make legal lines cleaner so firms and markets know which rules apply. Many in the XRP community reacted quickly, pointing to the 2023 court ruling that found XRP was not a security as evidence that the token belongs under CFTC oversight.

Commentators in the space argue the combination of that court decision and new legislation could finally put the question to rest.

Market Moves Add Weight To The Debate
Data cited by community members has been used to underline the argument. According to reports, XRP now processes over $5 trillion a year, and Ripple executives have spoken about CBDC pilots and network growth that could place XRP at the center of large payment flows.

Ripple CEO Brad Garlinghouse has set a target of capturing 14% of SWIFT’s $150 trillion volume, a share that would represent about $40 trillion by 2030 if reached.

Price action has followed the chatter: XRP traded at $2.50, up from $2.40 and showing a 4% gain at the time of the latest report. Daily trade volume rose by 52%, with nearly $5.8 billion in XRP changing hands.

Featured image from Gemini, chart from TradingView

On Thursday, the Bitcoin price fell toward the $98,000 mark, with November shaping up to mirror October’s performance as the market’s leading cryptocurrency continues to hit lower lows over the past month, confirming a prevalent downtrend in the market.

Bitcoin Price Uncertainty Grows Post-Government Shutdown
This downturn is indicative of growing market uncertainty, particularly following President Donald Trump’s signing of a bill that ended the longest government shutdown in US history on Wednesday. 

More concerning, market analyst Ali Martinez has suggested that the Bitcoin price may be forming a head-and-shoulders pattern. According to his analysis, this could set the stage for a significant drop to as low as $83,000. This would represent an additional 15% decline if the pattern holds true.

Adding to the worries for bullish investors, Bitcoin has recently fallen below its 200-day simple moving average (SMA), an historical key technical support for the cryptocurrency’s price in bullish cycles. 

BTC losing its key 200-day SMA. Source: Ali Martinez on X
The expert now indicates that a break below this key level during bear markets often leads to significant declines, potentially leading the Bitcoin price under its realized price, currently pegged at $56,200. This would imply that BTC could see a further 42% drop from current trading prices.

Crypto Winter Looms
Despite the expectation of bullish catalysts such as increased liquidity and potential interest rate cuts by the Federal Reserve, along with positive macroeconomic data, the outlook for the Bitcoin price suggests the possibility of a new bear market. 

Ali Martinez’s analysis implies that bearish sentiment is gaining momentum, raising concerns about an impending “crypto winter” unfolding for investors once again this year. 

As of this writing, BTC is trading at $98,150, marking a loss of nearly 13% over the past thirty days and erasing most of the gains it had accumulated throughout the year. In this time frame, it has only posted a 9% gain. 

The daily chart shows BTC’s price drop below $100,000. Source: BTCUSDT on TradingView.com
Featured image from DALL-E, chart from TradingView.com 

TLDR

Table of Contents

TLDRPhilion’s Concerns Over Centralized PlatformsFlare Network’s Commitment to TransparencyXRP Community Reacts to Philion’s WarningGet 3 Free Stock Ebooks

Flare Network co-founder Hugo Philion warns XRP holders against using opaque platforms that offer yield or staking rewards.
Philion advises investors to avoid platforms that do not provide transparency on how user funds are managed.
The warning comes after Stream Finance disclosed a $93 million loss, highlighting the risks posed by unregulated crypto platforms.
Flare Network offers a more transparent DeFi alternative for XRP holders with its FXRP initiative.
The XRP community has expressed frustration with Philion’s vague warning, which did not name specific platforms.

Hugo Philion, co-founder of Flare Network, has warned XRP holders about depositing their tokens into platforms that offer yield or staking rewards. He cautioned against using opaque platforms that lack operational transparency, urging users to avoid “black boxes” like some existing vault services. Philion’s remarks came in a post on X, where he expressed concerns about the risks posed by platforms that promise high returns without disclosing how user funds are managed.

Philion’s Concerns Over Centralized Platforms
Philion did not name specific platforms in his warning, but his comments targeted centralized or semi-transparent vault services. These platforms claim to offer XRP yield opportunities but fail to provide clear information on their operations. According to Philion, the lack of transparency in these services puts investors at risk.

Philion’s warning follows a recent case involving Stream Finance, which disclosed a $93 million loss in assets managed by an external fund manager. The platform suspended withdrawals and deposits as a result, leading to widespread concerns about similar incidents in the crypto space. This situation highlights the risks associated with yield-bearing platforms, with many comparing it to the collapse of Celsius and other high-risk financial schemes.

Flare Network’s Commitment to Transparency
In contrast to these opaque platforms, Flare Network aims to offer a transparent alternative to XRP holders. Philion emphasized that Flare’s decentralized finance (DeFi) ecosystem is designed to provide a safer space for XRP-related financial activities. Flare’s FXRP initiative, which has seen over $150 million in XRP inflows, aims to lead the way in decentralized finance for the XRP community.

Philion reaffirmed that Flare’s focus is on transparency, allowing users to understand exactly how their funds are handled. This emphasis on openness is crucial in a market where high yields often mask potential risks. As DeFi activity around XRP continues to grow, Flare’s ecosystem remains committed to offering a more secure environment for users.

XRP Community Reacts to Philion’s Warning
Philion’s refusal to name specific platforms has sparked frustration among members of the XRP community. Some users, such as X user SKyGuy, questioned whether platforms such as SparkDEX and Kinetic fit the definition of “black boxes.” Others speculated that the warning was aimed at platforms offering XRP staking rewards without sufficient transparency regarding fund management.

The reactions highlight a growing concern within the XRP community about the risks of engaging with yield-promising platforms. While some users have already withdrawn their XRP from such platforms, others continue to seek alternatives that align with Philion’s call for transparency. As more developers explore tokenized staking for XRP, ensuring the safety and transparency of these platforms will remain a key concern for investors.

Philion’s comments underscore the need for due diligence when interacting with projects promising easy returns. He urges XRP holders to be cautious and prioritize security over high yields. Until platforms offer clearer operational transparency, many within the community, including XRP commentator Digital Asset Investor, prefer to sit out of yield offerings.

Journalist

Hassan Shittu

Journalist

Hassan Shittu

About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Last updated: 

November 13, 2025

The Czech National Bank (CNB) has purchased Bitcoin and other digital assets worth $1 million, calling it a “test portfolio,” its first direct exposure to cryptocurrencies.

The move, announced on Thursday, marks a cautious step toward understanding how blockchain-based assets could fit into future financial systems.

According to the CNB, the portfolio includes Bitcoin (BTC), a U.S. dollar–pegged stablecoin, and a tokenized bank deposit.

Source: CNBMade outside the bank’s international reserves, the purchase provides practical experience in handling digital assets rather than indicating a shift in policy or reserve.

CNB’s Bitcoin Pilot Seeks to Prepare for the Future of MoneyGovernor Aleš Michl said the initiative began in early 2025 to explore how decentralized assets might complement traditional holdings.

The project, approved by the Bank Board on October 30, followed an internal review concluding that digital assets are becoming a growing feature of institutional portfolios worldwide.

“The goal is to test every process involved in managing digital assets, from custody and key management to security and AML compliance,” Michl said. “We plan to share our findings over the next two to three years.”

Officials said the purchase will not affect the bank’s €140 billion in foreign reserves. The small allocation, they said, shields the bank from Bitcoin’s price volatility.

Source: Czech National BankThrough the program, the CNB will study how blockchain technology could influence payments, settlement, and accountability.

Technical teams will test wallet operations, multi-signature controls, and audit procedures for on-chain transactions.

Each asset in the portfolio serves a distinct purpose: Bitcoin represents decentralized money; the stablecoin, fiat-backed stability; and the tokenized deposit, a bridge to regulated finance.

Michl called it a part of a long-term modernization effort. “The koruna will always remain our legal tender, but new forms of money and investment are emerging, and we want to be ready,” he said.

Czech Central Bank Dips Into Bitcoin for Research, Not ReservesThe decision follows nearly a year of internal debate over Bitcoin’s role in the Czech Republic’s reserves. Michl first floated the idea in January 2025, suggesting a small Bitcoin purchase for diversification.

By February, he argued that central banks should study Bitcoin’s underlying technology rather than ignore it.

Not all board members agreed. Jan Kubicek, another member of the Bank Board, warned that Bitcoin’s volatility and legal uncertainties made it unsuitable for reserve holdings. His caution led to a compromise: a limited pilot program instead of a formal reserve allocation.

Michl had initially proposed investing up to 5% of the country’s reserves in Bitcoin, a move that would have made the Czech Republic the first Western central bank to publicly hold the asset.

That plan was rejected, but the $1 million test portfolio serves as a practical middle ground, allowing the CNB to gain operational experience without altering its balance sheet.

Alongside the test portfolio, the CNB launched the CNB Lab, a hub focused on emerging financial technologies. The Lab will research AI applications, instant payments, and tokenized instruments, expanding the bank’s technical capacity for future digital finance.

The Czech initiative comes as European regulators cautiously explore blockchain’s potential. No EU central bank currently holds Bitcoin in its reserves, but discussions around tokenized bonds, regulated stablecoins, and a digital euro have accelerated.

In October, nine European banks revealed plans for a G7-backed stablecoin, while the European Central Bank continues to test digital euro prototypes.

Against that backdrop, the CNB’s step, small but tangible, distinguishes it as one of the few Western monetary authorities directly engaging with crypto assets.

“Bitcoin’s past performance is impressive,” the CNB noted, “but its volatility remains incomparable to conventional assets. This project is about learning, not investing.”

Follow us on Google News

VeChain clarifies that the 2019 blocklist action was a one-time, community-approved response.

VeChain has issued a firm clarification denying recent allegations made in a report published by Bybit’s Lazarus Security Lab, which claimed that the blockchain includes a hidden feature allowing funds to be frozen.

In a statement released on Thursday, VeChain categorically rejected the claims as “factually incorrect and reputationally damaging.”

VeChain Slams Bybit’s Research Lab
Addressing the specific allegations in its recent post on X, the team explained that the only incident resembling such action occurred in December 2019, when a private key theft compromised a single VeChain wallet. Following the breach, the VeChain community voted to implement a one-time, community-approved blocklist to prevent the liquidation of the stolen assets.

Validators upgraded their node software to reject transactions originating from the thief’s wallets and ensured the stolen funds could not be moved or reallocated. The measure, VeChain clarified, was a transparent, governance-driven response to a major security event and not a unilateral fund freeze embedded in the protocol’s source code.

The company further explained that the technical distinction between “blocking” and “freezing” while criticizing the Bybit report for conflating validator-level inclusion policies with hardcoded freezing capabilities.

“We encourage the author of the report to conduct a deeper technical review to understand the implications of mixing up these two mechanisms in a public forum.”

VeChain also pointed out that independent audits, including those by NCC Group, Coinspect, and Hacken, have confirmed that VeChainThor’s software enables validators, through community-approved governance, to reject certain transactions, but not to seize or freeze assets. The blockchain’s consensus-level checks are designed to support decentralized decision-making rather than centralized control, VeChain added.

Bybit’s Research
Bybit’s Lazarus Security Lab report, titled “Blockchain Freezing Exposed: Examine the Impact of Fund Freezing Ability in Blockchain,” claimed that 16 major blockchain networks possess features that allow developers or validators to freeze or restrict user funds. According to the report, VeChain was among several networks, including Binance-backed BNB Chain, Sui, Aptos, and XinFin’s XDC Network, listed as having hardcoded freezing mechanisms directly embedded in their source code.

You may also like:

Best Crypto Exchanges in 2025: Complete Comparison

Binance Restores Hacked X Account After $13K Lost in BNB Chain Phishing Scam

BNB Chain Dethrones Solana in Daily Fees After Aster DEX-Fueled Surge

The study, which examined 166 blockchain networks using AI-assisted code analysis and manual verification, identified three primary categories of freezing mechanisms: hardcoded freezing, configuration-based freezing, and on-chain contract freezing.

The report cited multiple historical examples of fund-freezing events, including Sui freezing $162 million in stolen assets following the Cetus hack, and BNB Chain deploying hardcoded blacklists to contain a $570 million bridge exploit. Researchers concluded that while such interventions can help mitigate damage from security breaches, they also raise concerns about centralization and censorship. It said that the existence of fund-freezing functions, even when implemented for security purposes, challenges the notion of full decentralization.

Tags:

Upexi launches $50M share buyback to boost shareholder value amid a 50% month-long stock decline and market volatility.

Izabela Anna2 min read

13 November 2025, 10:35 PM

Upexi approved a major share repurchase plan as the company continues navigating a difficult month in the equity market. The Solana-focused digital asset treasury operator reported a steep decline in its share price over the past four weeks. 

The new authorization allows the company to deploy up to $50 million toward buying back common stock. The announcement arrives as the stock trades near its lowest point this quarter. 

The strategy signals management’s effort to increase flexibility, stabilize sentiment, and reinforce confidence in the company’s long-term roadmap. Moreover, it reflects a broader shift among digital-asset-aligned firms that now rely more on capital management tools to protect shareholder value.

Company Plans Opportunistic PurchasesAccording to the press release, the company explained that it intends to repurchase shares in the open market. Management aims to act when market conditions support attractive returns. Besides that, the plan gives Upexi additional control over timing and scale. The company intends to prioritize liquidity, price conditions, and its broader treasury plans. 

Chief Executive Officer Allan Marshall said the decision reflects internal conviction. He stated, “This share repurchase program underscores our confidence in Upexi’s strategy, balance sheet, and long-term growth trajectory.” He added that the program will support shareholder value without affecting expansion initiatives or the company’s digital asset treasury operations.

Additionally, the company stressed that the authorization does not require it to buy a fixed number of shares. Management may slow or halt purchases as conditions evolve.

Stock Extends Month-Long DowntrendSource: Google Finance

Upexi’s stock closed at $3.22 as of press time, marking a 4.73% decline for the session. After-hours trading pushed the price to $3.18, showing continued pressure. Intraday trading remained weak, with the price slipping from early highs near $3.50 and holding within the $3.10–$3.20 range by the close.

The broader trend shows heavier strain. Upexi has fallen more than 50% over the past month. The stock traded above $6.40 in mid-October before a series of lower highs and accelerated selling pushed it toward current levels. Consequently, the price now sits near its lowest point in several weeks.

ENRICH your inbox with our best storiesDon’t miss out and join our newsletter to get the latest,
well-curated news from the crypto world!

Izabela Anna

Izabela Anna is a knowledgeable freelance journalist, who boasts over five years of experience covering the cryptocurrency market. Her tenure has seen her navigate through the ebbs and flows of multiple market cycles, giving her a deep understanding within. Her journalistic focus lies in dissecting price action dynamics, scrutinizing the on-chain landscape, and providing insights from a technical perspective, making her a trusted voice in the realm of cryptocurrency reporting.

Read more about

Latest Solana (SOL) News Today

GARDNER, Mass., Nov. 13, 2025 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, announced operating results on an unaudited basis for its first quarter fiscal year 2026 for the period ended September 30, 2025.

Q1 2026 Financial Highlights (3 Months Ended September 30, 2025):

Revenue was $6.7 million, a quarterly record, compared to $4.2 million in the same quarter of the previous fiscal year, representing growth of approximately 59%.Production revenue was $6.0 million, a quarterly record, compared to $2.6 million in the same quarter of the previous fiscal year, representing growth of approximately 133%.Engineering revenue was $0.7 million compared to $1.6 million in the same quarter of the previous fiscal year, a decrease of 59%.Gross margins were 14.2% compared to 26.6% in the same quarter of the previous fiscal year.Net loss for the quarter was $(1.6) million, compared to $(1.3) million in the same quarter of the previous fiscal year.Adjusted EBITDA was $(1.2) million for the quarter compared to $(1.0) million in the same quarter of the previous fiscal year. Recent Additional Highlights:

Accepted a $700,000 product development order to design and build a sub-assembly for an advanced augmented reality (AR) system.Accepted a $678,000 product development agreement to develop a custom high-end borescope for jet engines. The system will include multiple configurations to measure critical components inside jet engines in the field with greater-than-1080p HD resolution in extreme environmental conditions.Increased production to meet the growing demand from a top-tier aerospace company for a highly complex and specific assembly provided by POC. First quarter fiscal 2026 revenue totaled $2.5 million from this customer, a quarterly record.Introduced a second production line to meet increasing demand for single-use endoscope assemblies used by a leading surgical company in their cystoscopy surgery system. First quarter fiscal 2026 revenue totaled $1.6 million from this customer, a quarterly record. FY 2026 Financial Guidance (Year Ended June 30, 2026):

The Company projects for the fiscal year 2026 revenue to exceed $25 million, which represents 31% growth over the Company’s fiscal year 2025 revenue.The Company projects fiscal year 2026 Adjusted EBITDA to be approximately $0.5 million compared to $(3.7) million in fiscal 2025. “The positive momentum continued during the first quarter as we once again reported record quarterly revenue of $6.7 million, an increase of 59% from the year ago period, driven by production deliveries against multi-year agreements with a top tier aerospace company and a surgical robotics company,” commented Dr. Joe Forkey, CEO of Precision Optics. “Gross margins were impacted by lower revenue and underutilization of resources in other parts of the business during the first quarter. However, we expect overall gross margin improvements during the second and subsequent quarters.”

“Two new large development agreements coming in over the past weeks are a positive sign. The programs, one for the development of sub-assemblies for an augmented reality system and the other for a high-resolution borescope for jet engine inspection, broadens our exposure to the aerospace and defense industry as our solutions are well positioned to align with the industry's need for smaller sized optical systems”

“We believe fiscal 2026 is set to be a very good year for POC. We look forward to the continued execution against a strong backlog, delivery of systems at improved margins, and expansion of our pipeline. We continue to remain on track with the financial guidance we previously set for the year, highlighted by fiscal year 2026 revenue growth and positive Adjusted EBITDA,” Forkey concluded.

The following table summarizes the first quarter results for the periods ended September 30, 2025, and 2024:

 Three Months Ended September 30 2025
 2024
Revenues$6,680,823  $4,197,053         Gross Profit 946,358   1,117,330         Stock Compensation Expenses 301,639   149,364 Other 2,239,974   2,214,907 Total Operating Expenses 2,541,613   2,364,271         Operating Income (Loss) (1,595,255)  (1,246,941)    Net Income (Loss) (1,637,030)  (1,311,247)        Income (Loss) per Share       Basic & Fully Diluted$(0.21) $(0.21)                Weighted Average Common Shares Outstanding      Basic & Fully Diluted 7,714,701   6,216,630          Conference Call Details
Date and Time: Thursday, November 13, 2025, at 5:00 p.m. ET.

Call-in Information: Interested parties can access the conference call by dialing (844) 735-3662 or
(412) 317-5705.

Live Webcast Information: Interested parties can access the conference call via a live webcast, which is available at https://app.webinar.net/3PyMqXG06ZY.

Replay: A teleconference replay of the call will be available for seven days, at (877) 344-7529 or (412) 317-0088, replay access code 7772062. A webcast replay will be available at https://app.webinar.net/3PyMqXG06ZY.

About Precision Optics Corporation
Founded in 1982, Precision Optics is a vertically integrated optics company primarily focused on leveraging its proprietary micro-optics, 3D imaging and digital imaging technologies to the healthcare and defense/aerospace industries by providing services ranging from new product concept through mass manufacture. Utilizing its leading-edge in-house design, prototype, regulatory and fabrication capabilities as well as its Ross Optical division's high volume world-wide sourcing, inspecting and production resources, the Company is able to design and manufacture next-generation product solutions to the most challenging customer requirements. Within healthcare, Precision Optics enables next generation medical device companies around the world to meet the increasing demands of the surgical community who require more enhanced and smaller imaging systems for minimally invasive surgery as well as 3D endoscopy systems to support the rapid proliferation of surgical robotic systems. In addition to these next generation applications, Precision Optics has supplied top tier medical device companies a wide variety of optical products for decades, including complex endocouplers and specialized endoscopes. The Company is also leveraging its technical proficiency in micro-optics to enable leading edge defense/aerospace applications which require the highest quality standards and the optimization of size, weight and power. For more information, please visit www.poci.com.

Non-GAAP Financial Measures

Precision Optics has provided in this press release financial information that has not been prepared in accordance with accounting principles generally accepted in the Unites States of America (“non-GAAP”). The non-GAAP financial measure is Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization). In addition to the aforementioned items, Adjusted EBITDA also excludes from Net Income (Loss) the effect of stock-based compensation.

This non-GAAP financial measure assists Precision Optics management in comparing its operating performance over time because certain items may obscure the underlying business trends and make comparisons of long-term performance difficult, as they are of a nature and/or size that occur with inconsistent frequency or relate to discrete acquisition or restructuring plans that are fundamentally different from the ongoing productivity of the Company. Precision Optics management also believes that presenting this measure allows investors to view its performance using the same measures that the Company uses in evaluating its financial and business performance and trends.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information calculated in accordance with GAAP. Investors are encouraged to review the reconciliation of non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measure presented above to GAAP results has been provided in the financial tables included with this press release.

About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, without limitation, the Company’s projections for future revenue, gross margins and Adjusted EBITDA. The forward-looking statements contained in this press release are based on certain assumptions and analyses made by the management of the Company in light of their respective experience and perception of historical trends, current conditions, and expected future developments and their potential effects on the Company as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting the Company will be those anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including the demand for the Company's products, global supply chains and economic activity in general and other risks and uncertainties identified in the Company's filings with the SEC. Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

Company Contact:
PRECISION OPTICS CORPORATION
22 East Broadway
Gardner, Massachusetts 01440-3338
Telephone: 978-630-1800

Investor Contact:
LYTHAM PARTNERS, LLC
Robert Blum
Telephone: 602-889-9700
[email protected]

      PRECISION OPTICS CORPORATION, INC.
BALANCE SHEETS
(UNAUDITED)       September 30,  June 30,  2025  2025 ASSETS       Current Assets:       Cash and cash equivalents$1,392,105  $1,773,735 Accounts receivable, net of allowance for credit losses of $63,804 at September 30, 2025 and $80,192 at June 30, 2025 4,187,933   4,336,730 Inventories, net 3,880,308   3,562,112 Prepaid expenses 399,630   385,390 Total current assets 9,859,976   10,057,967         Fixed Assets:       Machinery and equipment 3,406,046   3,385,958 Leasehold improvements 1,240,705   871,356 Furniture and fixtures 564,944   538,428   5,211,695   4,795,742 Less—accumulated depreciation and amortization 4,250,817   4,261,950 Net fixed assets 960,878   533,792         Operating lease right-to-use asset 2,513,607   141,825 Patents, net 226,259   232,493 Goodwill 8,824,210   8,824,210 Total other assets 11,564,076   9,198,528 TOTAL ASSETS$22,384,930  $19,790,287         LIABILITIES AND STOCKHOLDERS’ EQUITY       Current Liabilities:       Current portion of capital lease obligation$18,383  $27,368 Current maturities of long-term debt 577,898   577,898 Accounts payable 4,008,335   2,909,100 Contract liabilities 2,030,772   1,821,929 Accrued compensation and other 899,566   764,004 Current portion of operating lease liability 82,341   50,995 Total current liabilities 7,617,295   6,151,294         Long-term debt, net of current maturities 1,144,730   1,289,205 Operating lease liability, net of current portion 2,699,462   90,954 Total liabilities 11,461,487   7,531,453         Stockholders’ Equity:       Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding – 7,714,701 shares at September 30, 2025 and June 30, 2025 77,147   77,147 Additional paid-in capital 69,453,956   69,152,317 Accumulated deficit (58,607,660)  (56,970,630)Total stockholders’ equity 10,923,443   12,258,834         TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$22,384,930  $19,790,287          PRECISION OPTICS CORPORATION, INC.
STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED
SEPTEMBER 30, 2025 AND 2024
(UNAUDITED)       Three Months
Ended September 30,  2025  2024 Revenues$6,680,823  $4,197,053         Cost of Goods Sold 5,734,465   3,079,723 Gross Profit 946,358   1,117,330         Research and Development Expenses 311,840   400,659 Selling, General and Administrative Expenses 2,229,773   1,963,612 Total Operating Expenses 2,541,613   2,364,271         Operating Loss (1,595,255)  (1,246,941)        Interest Expense (41,775)  (64,306)        Net Loss$(1,637,030) $(1,311,247)        Loss Per Share:       Basic & Fully Diluted$(0.21) $(0.21)        Weighted Average Common Shares Outstanding:       Basic & Fully Diluted 7,714,701   6,216,630          PRECISION OPTICS CORPORATION, INC.
STATEMENTS OF STOCKHOLDERS’ EQUITY
FOR THE THREE MONTHS ENDED
SEPTEMBER 30, 2025 AND 2024
(UNAUDITED)                Three Month Period Ended September 30, 2025  Number of
Shares  Common
Stock  Additional
Paid-in
Capital  Accumulated
Deficit  Total
Stockholders’
Equity                Balance, July 1, 2025 7,714,701  $77,147  $69,152,317  $(56,970,630) $12,258,834 Stock-based compensation –   –   301,639   –   301,639 Net loss –   –   –   (1,637,030)  (1,637,030)Balance, September 30, 2025 7,714,701  $77,147  $69,453,956  $(58,607,660) $10,923,443   Three Month Period Ended September 30, 2024  Number of
Shares  Common
Stock  Additional
Paid-in
Capital  Accumulated
Deficit  Total
Stockholders’
Equity                Balance, July 1, 2024 6,073,939  $60,739  $61,197,433  $(51,190,384) $10,067,788 Issuance of common stock in registered direct offering 265,868   2,659   1,201,883   –   1,204,542 Proceeds from exercise of stock option 10,363   104   26,896   –   27,000 Stock-based compensation –   –   149,364   –   149,364 Net loss –   –   –   (1,311,247)  (1,311,247)Balance, September 30, 2024 6,350,170  $63,502  $62,575,576  $(52,501,631) $10,137,447                      PRECISION OPTICS CORPORATION, INC.
STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED
SEPTEMBER 30, 2025 AND 2024
(UNAUDITED)       Three Months
Ended September 30,  2025  2024 Cash Flows from Operating Activities:       Net Loss$(1,637,030) $(1,311,247)Adjustments to reconcile net loss to net cash used in operating activities -       Depreciation and amortization 65,181   48,290 Stock-based compensation expense 301,639   149,364 Non-cash interest expense 4,608   4,376 Non-cash operating lease expense 49,322   – Loss on disposal of fixed assets 34,506   – Changes in operating assets and liabilities -       Accounts receivable, net 148,797   421,896 Inventories, net (318,196)  (592,521)Prepaid expenses (14,240)  10,889 Accounts payable 1,099,235   746,038 Contract liabilities 208,843   (65,804)Accrued compensation and other 135,562   270,097 Net cash provided by (used in) operating activities 78,227   (318,622)        Cash Flows from Investing Activities:       Purchases of fixed assets (304,731)  (24,349)Proceeds from sale of fixed assets 3,000   – Additional patent costs (58)  (3,750)Net cash used in investing activities (301,789)  (28,099)        Cash Flows from Financing Activities:       Payments of capital lease obligations (8,985)  (11,212)Payments of long-term debt (149,083)  (128,315)Payment of debt modification costs –   (15,000)Payment on revolving line of credit –   (500,000)Proceeds from registered direct sale of common stock, net –   1,204,542 Gross proceeds from the exercise of stock options –   27,000 Net cash provided by (used in) financing activities (158,068)  577,015         Net increase(decrease) in cash and cash equivalents (381,630)  230,294 Cash and cash equivalents, beginning of period 1,773,735   405,278         Cash and cash equivalents, end of period$1,392,105  $635,572         Supplemental disclosure of cash flow information:       Operating right-of-use assets obtained in exchange for operating lease liabilities$2,632,584  $– Lease improvements financed by landlord$218,750  $–          PRECISION OPTICS CORPORATION, INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURESADJUSTED EBITDA  Three Months Ended September 30 2025
 2024
Net Income (loss) (GAAP)$(1,637,030) $(1,311,247)      Stock based compensation 301,639   149,364       Depreciation and amortization 65,181   48,290       Interest expense 41,775   64,306       Adjusted EBITDA (non-GAAP)$(1,228,435) $(1,049,287)      

~ Pivotal Financial Turnaround Completed, Fortifying the Foundation for Renewed Operational Momentum ~

~ Strongest Balance Sheet in Several Years, Powered by $20 Million Private Placement and Zero Debt ~

~ Continued Revenue Diversification and Lean Cost Structure Driving Clear Path to Profitability and Growth ~

SANTA MONICA, Calif., Nov. 13, 2025 (GLOBE NEWSWIRE) -- Super League (Nasdaq: SLE) (the “Company”), a leader in playable media trusted by global brands to reach and activate gaming audiences through playable ads and gamified content, today released third quarter 2025 financial results.

Super League Chief Executive Officer, Matt Edelman Commented:

“Our third quarter and the initial weeks of October represented a pivotal moment for Super League, a new beginning punctuated by decisive financial, operational, and strategic achievements. We executed a series of capital and balance-sheet transactions that strengthened our financial foundation and eliminated legacy overhangs, culminating in the restoration of full Nasdaq compliance across all listing requirements. These steps, combined with partnerships set to open access to new revenue channels, supported by rigorous cost controls within our simplified capital structure, have positioned Super League to pursue disciplined, sustainable growth into 2026 and beyond.

At the same time, we continue to do what we do best, activate playable media campaigns with leading global brands such as Google, Panda Express, Lionsgate, Bazooka Brands and more, highlighting the value of interactive brand storytelling within mobile games and massive immersive platforms such as Roblox and Fortnite. We create opportunities for deep engagement with 190 million US consumers across these channels by harnessing the cultural influence and proven psychology of play.

We view play as one of the most powerful forms of human expression – a state of discovery, imagination, connection, and accomplishment. With 85% of the total online population playing video games, appealing to a consumer’s love of play is the future of advertising engagement. Our custom and scalable solutions reside in the heart of this cultural shift, empowering brands to achieve key marketing objectives through interactive content that transforms passive audiences into active customers.

Financially, we maintained strict cost discipline, decreasing non-cash operating expenses by 29% year over year. Our Q3 gross margins remained strong at 45%, up from 39% a year ago. While Q3 revenues declined to $2.4 million, we narrowed our operating losses by 23% on a cash basis compared to Q3 2024. Mobile ad revenue held steady at 15% of total revenue, while Roblox campaigns represented 42% of revenue, down from 57% of our revenue in 2024 - a result of purposeful diversification efforts. We also made tangible progress toward our goal of achieving Adjusted EBITDA profitability, now supported by an efficient cost structure, stronger balance sheet, and a reinvigorated partner pipeline.

Achieving profitability and increasing shareholder value remains our highest priority. We recognize that profitability is the foundation for growth and innovation. With the disciplined execution we’ve demonstrated recently and the new beginning now in place, we are confident in our ability to deliver that result.

Looking forward, with opportunity for expansion through multiple revenue engines, our path to outsized growth extends beyond gaming media. Through the backing from Evo Fund, the lead investor who committed $10 million in our private placement, we are exploring strategies within the digital asset economy. This convergence of gaming, media, and digital assets represents a massive frontier, and Super League is uniquely positioned to lead it.

With the capital round and corporate restructuring now behind us, we can channel the same intensity and focus into scaling operations by recapturing our revenue and partnership momentum, pursuing new avenues for business acceleration such as accretive M&A, including the possibility of building an owned and operated asset base of significance. These opportunities are only possible now because of our strong cash position.

We enter the final quarter of 2025 poised for resurgence with unwavering conviction, a fundamentally transformed balance sheet, and a team inspired by the long-term opportunity to make Super League a consequential company. We believe that our disciplined execution and expanding ecosystem will translate into meaningful, sustainable value creation for our shareholders.”

The Company will host a webinar at 5:00 p.m. Eastern Time today, November 13, 2025, to discuss financial results, provide a corporate update and end with a question-and-answer session. To participate, please use the following information.

Super League Third Quarter 2025 Earnings Webinar

Date:November 13, 2025Time:5:00 pm Eastern TimeDial-in:1-877-407-0779International Dial-in:1-201-389-0914Webinar:Register Here
A replay will be available within 24 hours after the webinar and can be accessed here or on the Company’s investor relations website at https://ir.superleague.com/.

For any questions related to the Company’s third quarter 2025 financial results, please contact [email protected].

About Super League

Super League (Nasdaq: SLE) is redefining how brands connect with consumers through the power of playable media. The company creates moments that matter by placing brands directly in the path of play through playable ads and gamified content across mobile, web, CTV, social, and the world’s largest immersive gaming platforms. Powered by proprietary technologies, an award-winning development studio, and a vast network of native creators, Super League enables brands to stand out culturally, inspire loyalty, and drive measurable impact in today’s attention-driven economy. For more information, visit superleague.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.

Forward Looking Statements can be identified by words such as “anticipate,” “intend,” "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements include all statements other than statements of historical fact, including, without limitation, all statements regarding the private placement, including expected proceeds, Super League’s ability to maintain compliance with the Listing Rules of the Nasdaq Capital Market, statements regarding expected operating results and financial performance (including the Company’s commitment to and ability to achieve Adjusted EBITDA-positive results in Q4), strategic transactions and partnerships, and capital structure, liquidity, and financing activities. These statements are based on current expectations, estimates, forecasts, and projections about the industry and markets in which the Company operates, management’s current beliefs, and certain assumptions made by the Company, all of which are subject to change.

Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that are difficult to predict and that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Important factors include, but are not limited to: the Company’s ability to adequately utilize the funds received recent financings; the Company’s ability to execute on cost reduction initiatives and strategic transactions; customer demand and adoption trends; the timing, outcome, and enforceability of any patent applications; the ability to successfully integrate new technologies and partnerships; platform, regulatory, macroeconomic and market conditions; the Company’s ability to maintain compliance with Nasdaq Capital Market continued listing standards; access to, and the cost of, capital; and the other risks and uncertainties described in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, the Company’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, and other filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

Investor Relations Contact:
Shannon Devine/ Mark Schwalenberg
MZ North America
Main: 203-741-8811
[email protected]

SUPER LEAGUE ENTERPRISE, INC.
CONSOLIDATED BALANCE SHEETS
JUNE 30, 2025 AND DECEMBER 31, 2024
(In U.S. dollars, rounded to the nearest thousands, except share and per share data)

  September 30, 2025 December 31, 2024 Assets     Cash and cash equivalents $1,061,000  $1,310,000  Accounts receivable  1,918,000   3,766,000  Prepaid expenses and other current assets  1,487,000   677,000  Total current assets  4,466,000   5,753,000        Property and Equipment, net  11,000   24,000  Intangible and Other Assets, net  2,361,000   4,070,000  Goodwill  1,864,000   1,864,000  Total assets $ 8,702,000  $ 11,711,000        Liabilities     Accounts payable and accrued expense $5,454,000  $5,282,000  Accrued contingent consideration  39,000   138,000  Promissory note - contingent consideration  -   1,735,000  Contract liabilities  813,000   50,000  Notes payable and accrued interest  2,753,000   3,240,000  Total current liabilities  9,059,000   10,445,000  Deferred taxes  161,000   161,000  Warrant liability  936,000   935,000  Total liabilities   10,156,000   11,541,000        Stockholders’ Equity     Preferred Stock  4,000   -  Common Stock  78,000   94,000  Additional paid-in capital  271,518,000   270,111,000  Accumulated deficit  (273,054,000)  (270,035,000) Total stockholders’ equity (deficit)  (1,454,000)  170,000  Total liabilities and stockholders’ equity $ 8,702,000  $ 11,711,000         SUPER LEAGUE ENTERPRISE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED JUNE 30, 2025 AND 2024
(In U.S. dollars, rounded to the nearest thousands, except share and per share data)

  Three Months Ended Nine Months Ended     September 30, September 30,      2025   2024   2025   2024                REVENUE $2,423,000  $4,431,000  $8,142,000  $12,756,000    COST OF REVENUE  (1,343,000)  (2,706,000)  (4,557,000)  (7,653,000)               GROSS PROFIT  1,080,000   1,725,000   3,585,000   5,103,000                OPERATING EXPENSE           Selling, marketing and advertising  1,699,000   2,397,000   6,198,000   7,306,000    Engineering, technology and development  667,000   914,000   2,290,000   3,405,000    General and administrative  1,765,000   1,935,000   4,938,000   6,558,000    Contingent consideration  -   (68,000)  (14,000)  (15,000)   TOTAL OPERATING EXPENSE  4,131,000   5,178,000   13,412,000   17,254,000                NET OPERATING LOSS  (3,051,000)  (3,453,000)  (9,827,000)  (12,151,000)               OTHER INCOME (EXPENSE)           Gain on sale of intangible assets  -   -   343,000   144,000    Interest expense, including change in fair value of promissory notes carried at fair value  19,000   (45,000)  (1,202,000)  (82,000)   Loss on extinguishment of liability - contingent consideration  (161,000)  (336,000)  (161,000)  (336,000)   Change in fair value of warrant liability  1,073,000   198,000   1,934,000   1,104,000    Other  (891,000)  4,000   (1,111,000)  (26,000)   TOTAL OTHER INCOME (EXPENSE), NET  40,000   (179,000)  (197,000)  804,000                LOSS BEFORE INCOME TAXES  (3,011,000)  (3,632,000)  (10,024,000)  (11,347,000)               PROVISION FOR INCOME TAXES  -   -   -   -                NET LOSS $(3,011,000) $(3,632,000) $(10,024,000) $(11,347,000)               Net loss attributable to common stockholders - basic and diluted          Basic net loss per common share $3.76  $(21.47) $(4.20) $(80.10)   Diluted net loss per common share $(2.30) $(21.47) $(4.20) $(80.10)   Weighted-average number of shares outstanding, basic  1,090,129   248,007   719,639   182,738    Weighted-average number of shares outstanding, diluted  1,561,806   248,007   719,639   182,738                 SUPER LEAGUE ENTERPRISE, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION (UNAUDITED)
FOR THE THREE MONTHS ENDED JUNE 30, 2025 AND 2024
(In U.S. dollars, rounded to the nearest thousands, except share and per share data)

  Three Months Ended Nine Months Ended     September 30, September 30,      2025   2024   2025   2024                GAAP net loss $(3,011,000) $(3,632,000) $(10,024,000) $(11,347,000)   Add back:           Non-cash stock compensation  613,000   356,000   1,372,207   986,000    Non-cash amortization of intangibles  513,000   610,000   1,593,344   1,896,000    Other  (867,000)  140,000   (1,433,000)  (132,000)   Proforma net loss $(2,752,000) $(2,526,000) $(8,491,449) $(8,597,000)               Pro forma non-GAAP net earnings (loss) per common share — basic and diluted $(2.52) $(10.19) $(11.80) $(47.05)   Non-GAAP weighted-average shares — basic and diluted  1,090,129   248,007   719,639   182,738                 SUPER LEAGUE ENTERPRISE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024
(In U.S. dollars, rounded to the nearest thousands)

 Nine Months Ended  September 30,   2025   2024       Operating Activities    Net loss$(10,024,000) $(11,347,000) Adjustments to reconcile net loss to net cash used in operations:    Depreciation and amortization 1,607,000   1,953,000  Stock-based compensation 1,372,000   986,000  Loss on extinguishment of liability – contingent consideration 161,000   336,000  Change in fair value of warrant liability (1,934,000)  (1,104,000) Change in fair value of contingent consideration -   (158,000) Change in fair value of debt at fair value 373,000   -  Gain on sale of intangible assets -   (144,000) Debt Issuance costs 554,000    Fair value of noncash legal settlement and other noncash charges -   794,000  Changes in assets and liabilities    Accounts Receivable 1,040,000   3,772,000  Prepaid Expense and Other Assets (319,000)  263,000  Accounts payable and accrued expense (398,000)  (3,309,000) Accrued contingent consideration -   (17,000) Contract liabilities 763,000   (185,000) Net Cash Used in Operating Activities (6,805,000)  (8,160,000)      Investing Activities    Proceeds from sale of Minehut and Mineville Assets 1,158,000   -  Purchase of property and equipment -   (23,000) Capitalization of software development costs (200,000)  (434,000) Acquisition of other intangibles (35,000)  -  Net Cash Provided by Investing Activities 923,000   (457,000)      Financing Activities    Proceeds from issuance of preferred stock, net -   2,129,000  Proceeds from issuance of common stock, net of issuance costs 1,945,000   -  Proceeds from the issuance of promissory notes, net of issuance costs 7,607,000   -  Payments on promissory notes (3,768,000)  -  Accounts receivable facility advances 429,000   1,033,000  Payments on accounts receivable facility (453,000)  (1,833,000) Other (127,000)  (32,000) Net Cash Provided by Financing Activities 5,633,000   1,297,000       Net Increase (Decrease) in Cash and Cash Equivalents (249,000)  (7,320,000) Cash and Cash Equivalents at Beginning of the Period 1,310,000   7,609,000  Cash and Cash Equivalents at End of the Period$ 1,061,000  $ 289,000       

November 13, 2025 16:30 ET

 | Source:

Ultralife Corporation

NEWARK, N.Y., Nov. 13, 2025 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) will report its third quarter results for the period ended September 30, 2025 before the market opens on Tuesday, November 18, 2025.

Ultralife’s Management will also host an investor conference call and simultaneous webcast at 8:30 AM ET on November 18, 2025.   Please see the call-in procedures which follow below.

NOTE TO THOSE PLANNING TO PARTICIPATE BY PHONE:

To ensure a fast and reliable connection to our investor conference call, we require participants dialing in by phone to pre-register using this link prior to the call:   https://register-conf.media-server.com/register/BI0301fd92021249ef830e0c9c7be9f917. This will eliminate the need to speak with an operator. Once registered, dial-in information will be provided along with a personal identification number. Should you register early and misplace your details, you can simply click back on this same link at any time to register and view this information again.

A live webcast of the conference call will be available to investors in the Events & Presentations Section of the Company’s website at http://investor.ultralifecorporation.com. For those who cannot listen to the live broadcast, a replay of the webcast will be available shortly after the call at the same location.

About Ultralife Corporation

Ultralife Corporation serves its markets with products and services ranging from power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe.

Headquartered in Newark, New York, the Company's business segments include: Battery & Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit http://www.ultralifecorporation.com.

Company Contact:Investor Relations Contact:Ultralife CorporationAlliance Advisors IRPhilip A. FainJody Burfening/Alex Villalta(315) 210-6110(212) [email protected]@allianceadvisors.com [email protected]

(All dollar amounts are in thousands of United States dollars unless otherwise indicated, except for shares, per ounce, and per share amounts) TSXV: MTA NYSE American: MTA VANCOUVER, BC , Nov. 13, 2025 /PRNewswire/ - Metalla Royalty & Streaming Ltd. ("Metalla" or the "Company") (TSXV: MTA) (NYSE American: MTA) announces its operating and financial results for the three and nine months ended September 30, 2025.

, /PRNewswire/ -- Wyndham Hotels & Resorts, Inc. (NYSE: WH) announced today its Board of Directors declared a quarterly cash dividend of $0.41 per share on its common stock, payable December 30, 2025 to shareholders of record as of December 15, 2025. 

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of franchised properties, with approximately 8,300 hotels across approximately 100 countries on six continents.  Through its network of over 855,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry.  The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®.  The Company's award-winning Wyndham Rewards loyalty program offers approximately 121 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally.  For more information, visit https://investor.wyndhamhotels.com.  The Company may use its website and social media channels as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company's website in the Investors section, which can currently be accessed at https://investor.wyndhamhotels.com or on the Company's social media channels, including the Company's LinkedIn account which can currently be accessed at https://www.linkedin.com/company/wyndhamhotels. Accordingly, investors should monitor this section of the Company's website and the Company's social media channels in addition to following the Company's press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements related to Wyndham's quarterly dividend. Forward-looking statements are any statements other than statements of historical fact, including those that convey management's expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as "will," "expect," "believe," "plan," "anticipate," "predict," "intend," "goal," "future," "forward," "remain," "confident," "outlook," "guidance," "target," "objective," "estimate," "projection" and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures, which may impact decisions by consumers and businesses to use travel accommodations; global trade disputes, including with China; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham's relationships with franchisees; the ability of franchisees to pay back loans owed to Wyndham; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; global or regional health crises or pandemics including the resulting impact on Wyndham's business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; Wyndham's ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham's ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham's ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.

SOURCE Wyndham Hotels & Resorts

-

HOUSTON--(BUSINESS WIRE)--WM (NYSE: WM) today announced the declaration of a quarterly cash dividend of $0.825 per share payable December 19, 2025, to stockholders of record on December 5, 2025.

ABOUT WM

WM (WM.com) is North America's leading provider of comprehensive environmental solutions. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial, medical and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them pursue their sustainability goals. In North America, WM has the largest disposal network and collection fleet, is the largest recycler and is a leader in beneficial use of landfill gas, with a growing network of renewable natural gas plants and the most landfill gas-to-electricity plants, as well as the largest heavy-duty natural gas truck fleet in the industry. WM Healthcare Solutions provides collection and disposal services of regulated medical waste and secure information destruction services in the U.S., Canada and Western Europe. To learn more about WM and the company's sustainability progress and solutions, visit Sustainability.WM.com.

More News From WM

Back to Newsroom

November 13, 2025 4:31 PM EST | Source: Nio Strategic Metals Inc.
Montreal, Quebec--(Newsfile Corp. - November 13, 2025) - Nio Strategic Metals Inc. (TSXV: NIO) (OTC Pink: NIOCF) ("Nio" or the "Corporation"), a critical mineral exploration company, is pleased to announce the grant of incentive stock options under its stock option plan, to an officer, and directors of the Corporation, to purchase up to an aggregate of 1,800,000 common shares. The stock options are exercisable at a price of CA$0.15 per share expiring October 13, 2030. The options, granted in accordance with the provisions of the Corporation's stock option plan, are subject to the TSX Venture Exchange policies and the applicable securities laws.

About Nio Strategic Metals

Nio Strategic Metals is an exploration and development company, with a focus on becoming a ferroniobium producer. The Corporation holds niobium properties located in Oka and near Mont-Laurier and another exploration property in the Province of Québec.

For more information on the Corporation, please refer to the Corporation's public documents available on SEDAR (www.sedarplus.ca) or on the Corporation's website (https://niostratmet.com/) or contact:

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 press release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America.

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (together, "forward looking statements") within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved", the negative of these terms and similar terminology although not all forward-looking statement contains these terms and phrases. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors set out in Nio Strategic Metals' annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR at www.sedarplus.ca, as well as all assumptions regarding the foregoing. Although Nio Strategic Metals believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frame or at all. Except where required by applicable law, Nio Strategic Metals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274413

BioHarvest Sciences Inc. (NASDAQ:BHST), a biotechnology company known for its patented Botanical Synthesis technology, reported a 39% increase in third-quarter revenue, driven by growth in its core VINIA capsule business and expanding contract development and manufacturing (CDMO) operations.

Total revenues for the quarter ended September 30 rose to $9.1 million, in line with management guidance. The company said its US active VINIA users now exceed 75,000.

Gross profit margin improved to 61%, up from 57% in the same period a year ago.

For the fourth quarter, management expects revenue between $9 million and $9.5 million, with adjusted EBITDA forecasted loss between $600,000 to breakeven.

CEO Ilan Sobel highlighted continued momentum across BioHarvest’s product portfolio. “The third quarter of 2025 was underscored by continued strong operational performance, as we exceeded our revenue targets and moved closer to our near-term goal of achieving adjusted EBITDA breakeven,” Sobel said. “Our results were fueled by sustained growth in our core VINIA capsule business as well as the expanding success of our ‘VINIA Inside’ product portfolio and an increasingly significant CDMO customer base.”

BioHarvest announced a breakthrough in producing plant-based exosomes at scale in a bioreactor, opening potential new revenue streams. The company also initiated an early adopter rollout of its VINIA Blood Flow Hydration Solution, with a market-wide launch planned for early December. The six-flavor product targets the US electrolyte hydration market, valued at more than $17 billion.

On the CDMO side, BioHarvest secured a new customer, Saffron Tech, to develop saffron-derived compounds using its Botanical Synthesis platform. BioHarvest will retain 25% ownership of the compound.

Sobel noted progress in the company’s professional affiliate program, onboarding 75 “Health Pros” to sell VINIA products, with a year-end target of 300 participants.

The brokerage has partnered with courier service Gopuff to roll out its same-day cash delivery service

SAN DIEGO, Nov. 13, 2025 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Firefly Aerospace Inc. (NASDAQ: FLY): (i) securities between August 7, 2025 and September 29, 2025, inclusive (the “Class Period”); and/or (ii) common stock pursuant and/or traceable to Firefly Aerospace’s offering documents issued in connection with Firefly Aerospace’s August 7, 2025 initial public offering (the “IPO”), have until January 12, 2026 to seek appointment as lead plaintiff of the Firefly Aerospace class action lawsuit. Captioned Diamond v. Firefly Aerospace Inc., No. 25-cv-01812 (W.D. Tex.), the Firefly Aerospace class action lawsuit charges Firefly Aerospace and certain of Firefly Aerospace’s top executives and directors with violations of the Securities Act of 1933 and/or the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Firefly Aerospace class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-firefly-aerospace-inc-class-action-lawsuit-fly.html

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: Firefly Aerospace operates as a space and defense technology company and provides mission solutions for national security, government, and commercial customers. According to the Firefly Aerospace class action lawsuit, on or about August 7, 2025, Firefly Aerospace conducted its IPO, issuing approximately 19.3 million shares of common stock to the public at the offering price of $45.00 per share.

The Firefly Aerospace class action lawsuit alleges that defendants throughout the Class Period and in the IPO’s offering documents made false and/or misleading statements and/or failed to disclose that: (i) Firefly Aerospace had overstated the demand and growth prospects for its Spacecraft Solutions offerings; (ii) Firefly Aerospace had overstated the operational readiness and commercial viability of its Alpha rocket program; and (iii) the foregoing, once revealed, would likely have a material negative impact on Firefly Aerospace.

The Firefly Aerospace investor class action alleges that on September 22, 2025 Firefly Aerospace reported its first earnings report as a public company and, among other items, revealed a loss of $80.3 million for the second quarter of 2025 compared to $58.7 million for the same quarter in 2024. Firefly Aerospace also reported revenue of $15.55 million, below analyst estimates of $17.25 million and down 26.2% from the same quarter in 2024, the complaint alleges. Significantly, Firefly Aerospace reported revenue of only $9.2 million in its Spacecraft Solutions business segment, representing a 49% year-over-year decrease, the Firefly Aerospace shareholder class action alleges. On this news, the price of Firefly Aerospace’s shares fell more than 15%, the lawsuit alleges.

Then, the Firefly Aerospace class action alleges that on September 29, 2025, Firefly Aerospace disclosed that “the first stage of Firefly’s Alpha Flight 7 rocket experienced an event that resulted in a loss of the stage.” On this news, the price of Firefly Aerospace’s shares fell more than 20%, the complaint alleges.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Firefly Aerospace securities during the Class Period and/or common stock pursuant and/or traceable to the IPO to seek appointment as lead plaintiff in the Firefly Aerospace class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Firefly Aerospace investor class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Firefly Aerospace shareholder class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Firefly Aerospace class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes. 
Services may be performed by attorneys in any of our offices. 

Contact:
        Robbins Geller Rudman & Dowd LLP
        J.C. Sanchez, Jennifer N. Caringal
        655 W. Broadway, Suite 1900, San Diego, CA 92101
        800-449-4900
        [email protected]

INSIDE INFORMATION
REGULATED INFORMATION

Nyxoah Secures Financing Commitments of up to U.S. $77 Million to Drive U.S. Commercialization of Genio

Financings are comprised of equity investments, including from Cochlear, Resmed and Nyxoah’s Chairman and Management, and a convertible bond.

Mont-Saint-Guibert, Belgium – November 13, 2025, 2025, 10:11pm CET / 4:11 pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA) through neuromodulation, today announced a €22 million private placement of equity, a U.S. $5.6 million registered direct offering, and a €17 million registered direct offering combined with a convertible bond financing of up to €45 million.

The private placement consists of the issuance of 5,481,678 new ordinary shares at a subscription price per share of €4.00 (approximately U.S. $4.6304 at current exchange rates) with gross proceeds totaling €22 million (approximately U.S. $25 million at current exchange rates). The closing of the private placement is expected to occur on or about November 17, 2025, subject to customary closing conditions. Degroof Petercam acted as the sole book runner for this private placement.

The ordinary shares are being sold in a private placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Additionally, the registered direct offering consists of the issuance of 1,215,964 new ordinary shares at a price per share of U.S. $4.6304 with gross proceeds totaling approximately U.S. $5,6 million. The closing of the registered direct offering is expected to occur on or about November 18, 2025, subject to customary closing conditions.

The registered direct offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333- 268955) which was declared effective by the Securities and Exchange Commission (the "SEC") on January 6, 2023. The offering is being made only by means of a prospectus which is part of the effective registration statement. A prospectus supplement and the accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.

Additionally, the Company entered into a subscription agreement with an international financial services firm for the issuance of convertible bonds for an aggregate maximum principal amount of up to €45 million (approximately U.S. $52 million at current exchange rate). The financing consists of a first tranche of up to €22.5 million with an option to issue a second tranche of €22.5 million at Nyxoah’s discretion, during the 30 days beginning seven months from the closing date subject to certain conditions. The closing for the first tranche of bonds is expected to occur in December 2025, subject to customary closing conditions. The first tranche of bonds will be issued at 92 per cent of their principal amount and carry an interest rate of 6.5 per cent per annum, payable every quarter in arrears. The bonds have a three-year maturity from issuance with quarterly amortization payments of principal and interest. The default conversion price for the first tranche of bonds, which can be modified on a downward basis, shall be equal to EUR 5.00, which represents 125 per cent of the placement price of the Shares being issued pursuant to the private placement.

The net proceeds from the convertible bonds together with the net proceeds of the private placement, will be used (i) to support commercialization activities in the United States and advance the commercialization of the Genio system in the Company’s initial target markets outside the United States; (ii) to continue gathering clinical data and to support physician-initiated clinical research projects related to OSA patient treatments; (iii) to further finance research and development activities related to Genio system upgrades, re-designing the Company’s products for manufacturability and cost reduction initiatives; (iv) to continue to build a pipeline of new technologies and explore potential collaboration opportunities in the field of monitoring and diagnostics for OSA; and (v) for other general corporate purposes, including, but not limited to, working capital, capital expenditures, investments, acquisitions, should the Company choose to pursue any, and collaborations.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat OSA. Nyxoah’s lead solution is the Genio system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company announced positive outcomes from the DREAM IDE pivotal study and receipt of approval from the FDA for a subset of adult patients with moderate to severe OSA with an AHI of greater than or equal to 15 and less than or equal to 65.

Caution – CE marked since 2019. FDA approved in August 2025 as prescription-only device.

ADDITIONAL INFORMATION

The following information is provided pursuant to article 7:97 of the Belgian Code on companies and associations. The investors that have participated in the private placement include, among others, (either directly or through entities controlled by them) Robert Taub, who is the chairman of the board of directors, Jürgen Hambrecht and Daniel Wildman (permanent representative of Wildman Ventures LLC), who are independent directors, Olivier Taelman, CEO and director of the Company, John Landry, CFO of the Company and Scott Holstine, Chief Commercial Officer of the Company. Together, these investors have subscribed to 356,250 new shares for EUR 1.425 million in gross proceeds at an issue price equal to EUR 4.00.

As Robert Taub, Jürgen Hambrecht, Daniel Wildman, Olivier Taelman, John Landry and Scott Holstine qualify as related parties of the Company, the board of directors applied the related parties procedure of article 7:97 of the Belgian Code on companies and associations in connection with the participation of the aforementioned related parties in the private placement. Within the context of the aforementioned procedure, prior to resolving on the private placement, a committee of three independent directors of the Company consisting of Rita Johnson-Mills, Virginia Kirby and Kevin Rakin (the "Committee") issued an advice to the board of directors in which the Committee assessed the participation of the six aforementioned investors in the private placement. In its advice to the board of directors, the Committee concluded the following: "Based on the information provided, the Committee considers that the proposed Transaction is in line with the strategy pursued by the Company, will be done on market terms, and is unlikely to lead to disadvantages for the Company and its shareholders (in terms of dilution) that are not sufficiently compensated by the advantages that the Transaction offers the Company”.

The Company’s board of directors approved the principle of the private placement and did not deviate from the Committee's advice.

IMPORTANT INFORMATION

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE TO DO SO WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS FOR GENERAL INFORMATION ONLY AND DOES NOT FORM PART OF ANY OFFER TO SELL OR PURCHASE, OR THE SOLICITATION OF ANY OFFER TO SELL OR PURCHASE, ANY SECURITIES. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFER, SUBSCRIPTION, SALE AND PURCHASE OF SECURITIES DESCRIBED IN THIS ANNOUNCEMENT IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. ANY PERSONS READING THIS ANNOUNCEMENT SHOULD INFORM THEMSELVES OF AND OBSERVE ANY SUCH RESTRICTIONS.

Forward-looking statements

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the closings of the private placement, the registered direct offering and the convertible bond financing; the Genio system; the potential advantages of the Genio system; Nyxoah’s goals with respect to the potential use of the Genio system; the Company's commercialization strategy and entrance to the U.S. market; and the Company's results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. These risks and uncertainties include, but are not limited to, the satisfaction of the closing conditions required for the closing of each of the private placement, the registered direct offering and the convertible bond financing and the consummation of the respective closings, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on March 20, 2025 and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward- looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:

Nyxoah
John Landry, CFO
[email protected]

Financing PR

Walt Disney Today

$107.57 -9.08 (-7.78%)

As of 03:59 PM Eastern

This is a fair market value price provided by Polygon.io. Learn more.

52-Week Range$80.10▼

$124.69Dividend Yield0.93%

P/E Ratio16.86

Price Target$132.90

It’s taken time, but Bob Iger’s magic is working on The Walt Disney Company NYSE: DIS, setting its investors up for robust share price gains in 2026. While the Q4 results were mixed, providing excuses for selling in pre-market action, the takeaways are bullish. Headwinds for this entertainment stock include several one-off factors, such as a decline in political ads and the slate of 2025 movie releases. 

Political ads are out of the company’s control, but movie releases aren’t; the company is expected to release at least 14 major movie titles in 2026, including a big-screen version of The Mandalorian, Toy Story, and Avengers: Doomsday. Evidence of Mr. Iger’s magic lies in the company’s operational quality, margin, and earnings, which are outperforming expectations and expected to grow at a double-digit pace next year. 

Get Walt Disney alerts:

Disney: Earnings Quality and Capital Returns Will Drive Action in 2026
Disney had a decent Q4 and fiscal year 2025 despite the macroeconomic headwinds plaguing global economic activity. The Company’s revenue contracted slightly, falling short of the consensus, but remained relatively flat compared to the prior year, with strengths in Experiences offsetting weaknesses in Entertainment. Within Entertainment, weakness in the movie slate is offset by strength in DTC and streaming.

The company produced a modest single-digit increase in subscription volume, led by Hulu and International markets. Experiences, the slightly smaller segment, grew by 6%, producing a record-setting quarter.

The margin news is central to the 2026 stock price outlook. The company experienced margin pressures, as expected, but successfully mitigated them, resulting in better-than-expected systemwide results. The bottom line is that adjusted earnings of $1.11 fell only 3% year over year, outpacing the consensus estimate by nearly 1,000 basis points. The better news is that margin improvement is expected to stick in 2026 and be compounded by revenue growth for a double-digit earnings gain. 

Disney’s Capital Return Is Fairy Dust for Share Prices
Fairy dust helps Peter Pan fly, and so, too, will share buybacks aid an updraft in Disney share prices. The buyback activity in 2025 reduced the count by an average of nearly 1% for Q4 and 1.5% for the year. The forecast for next year is for buybacks to double.

This is in addition to bullish institutional trends, which reveal this market is in an accumulation phase. The likely outcome is that the post-release price pullback will trigger a buying signal, confirming support at or near the 150-week EMA. 

Analysts also recommend that investors consider accumulating this stock. The trends as of mid-November include increasing coverage, solid analyst coverage at 28, a steady Moderate Buy rating, and an uptrend in price targets that is not expected to end.

The critical detail is that consensus has been rising steadily over the last 12 months and forecasts a 15% upside from the support target. Assuming the analysts' trends continue as they are, this stock will likely move into the high end of the target range by the end of next year, adding another double-digit increase to the forecasted gains. 

Disney: A Critical Inflection Point
Disney’s market has been gearing up to complete a reversal for several quarters and is at a critical juncture in mid-November. The post-release pullback presents a buying opportunity; the question is whether the market will bite. If not, this stock could retreat into its trading range until a more potent catalyst emerges.

If so, it will confirm support at the critical level and a shift in market sentiment that could drive much higher share prices. The key resistance target is near $125 and could be tested or exceeded by the end of 2025 in this scenario.

Should You Invest $1,000 in Walt Disney Right Now?Before you consider Walt Disney, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Walt Disney wasn't on the list.

While Walt Disney currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.

Get This Free Report

Q3: 2025-11-10 Earnings SummaryEPS of -$0.02 beats by $0.01

 |

Revenue of

$43.05M

(47.63% Y/Y)

misses by $4.29M

Americas Gold and Silver Corporation (USA:CA) M&A Call November 13, 2025 10:00 AM EST

Company Participants

Paul Huet - CEO & Chairman of the Board
Oliver Turner

Conference Call Participants

Heiko Ihle - H.C. Wainwright & Co, LLC, Research Division
Justin Chan - SCP Resource Finance LP, Research Division

Presentation

Operator

Ladies and gentlemen, thank you for standing by. My name is Abby, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Americas Gold and Silver Crescent Silver Acquisition Conference Call. [Operator Instructions] Today's call is being recorded and will be available for replay from the Americas Gold and Silver website later today. Our speakers for today will be America's CEO and Chairman, Paul Huet; and EVP of Corporate Development, Oliver Turner.

Without further ado, I will hand the call over to Paul.

Paul Huet
CEO & Chairman of the Board

Thank you. Good morning, everyone. Obviously, what an exciting day. We've been working on this for several months now, a number of months. We've been here already in Idaho or with Americas Gold and Silver for 11 months already. It's been a whirlwind exciting opportunity. But today, the company changes forever, and we're extremely excited for this opportunity. We won't find more accretive opportunities to fill our mill in stuff that's the exact same ore. So for us, we can't be more excited to get this deal across the finish line. If I'm a little tired, I apologize, we've been up all night trying to get this to our shareholders, and we finally got across the line. So very excited to talk about it.

We've got a deck here in front of us. We're going to walk through those slides and explain to you exactly what we saw. I do want to

Recommended For You

KBC Group NV (OTCPK:KBCSY) Q3 2025 Earnings Call November 13, 2025 3:30 AM EST

Company Participants

Kurt De Baenst - General Manager of Investor Relations Office
Johan Thijs - Group CEO, MD & Executive Director
Bartel Puelinckx - CFO & Director

Conference Call Participants

Tarik El Mejjad - BofA Securities, Research Division
Giulia Miotto - Morgan Stanley, Research Division
Namita Samtani - Barclays Bank PLC, Research Division
Benoit Petrarque - Kepler Cheuvreux, Research Division
Sharath Ramanathan - Deutsche Bank AG, Research Division
Chris Hallam - Goldman Sachs Group, Inc., Research Division
Shrey Srivastava - Citigroup Inc., Research Division

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to the KBC Group's Earnings Release Third Quarter 2025. [Operator Instructions]

I would now like to turn the floor over to Kurt De Baenst, Head of Investor Relations. Please go ahead.

Kurt De Baenst
General Manager of Investor Relations Office

Thank you, operator. A very good morning to all of you from the headquarters of KBC in Brussels, and welcome to the third quarter conference call. Today is Thursday, November 13, 2025, and we are hosting the conference call on the third quarter results of KBC. As usual, we have the group CEO, Johan Thijs as well as group CFO, Bartel Puelinckx with us, and they will both elaborate on the results and add some additional insight.

As such, it's my pleasure to give the floor to our CEO, Johan Thijs, who will quickly run you through the presentation.

Johan Thijs
Group CEO, MD & Executive Director

Thank you very much, Kurt. And also from my side, a warm welcome to the announcement of the third quarter results 2025. And as always, we start with the net results, which stands at a very excellent EUR 1.02 billion. So once again, the KBC bancassurance machine has been firing on all its cylinders, which also means that all entities in

Recommended For You

-

GROVE CITY, Ohio--(BUSINESS WIRE)--Horton Emergency Vehicles, a brand of REV Group Inc., and a leader in ambulance safety, is expanding its manufacturing footprint in Grove City, OH, with the $2.6M purchase of an adjacent building.

“We were delighted when a property adjacent to Horton’s assembly plant became available and REV Group was able to move quickly and allocate the capital expenditure,” said Mike Albers, vice president and general manager, Horton Emergency Vehicles.

Share
This new 20,000 square foot building will focus on final assembly and the delivery processes and is expected to reduce delivery times and enhance customer experience. In addition, the property will help open extra space in the current assembly operations and offers additional parking for employees and in-process ambulances. Located at 3873 Gantz Road, the Horton team expects to be operating in the facility in early 2026.

“We were delighted when a property adjacent to Horton’s assembly plant became available and REV Group was able to move quickly and allocate the capital expenditure,” said Mike Albers, vice president and general manager, Horton Emergency Vehicles. “This expansion allows us to provide additional space for our employees to manufacture and deliver our high-quality Horton ambulances to our dealers and customers quicker, which helps to protect their people and communities.”

Horton settled in Grove City, OH in 1994, and its current facility and offices are located at 3800 McDowell Road. With over 100,000 square feet, the facility has been designed specifically for manufacturing high quality, custom-designed emergency medical vehicles and is equipped with advanced engineering and computer-technology support for manufacturing as well as customer service.

Since 1968, Horton has manufactured emergency vehicles and currently designs and builds Type 1, Type 3 and Critical Care Transport units for fire departments and hospitals, serving a nationwide market. Horton is known for employing rigorous testing and an emphasis on safety, quality, and customization.

Find out more information, visit www.hortonambulance.com.

About Horton Emergency Vehicles

Founded in 1968, Horton Emergency Vehicles, a division of Halcore Group, Inc., is a REV Group company. Horton® ambulances are among the industry’s most technically innovative and customized ambulances and are synonymous with high quality. The exclusive Horton Occupant Protection System (HOPS) keeps the ambulance crew safe while working in the patient compartment. With a manufacturing facility in Grove City, Ohio, Horton ambulances have Strength & Safety in Every Detail™.

About REV Group, Inc.

REV Group companies are leading designers and manufacturers of specialty vehicles and related aftermarket parts and services, which serve a diversified customer base, primarily in the United States, through two segments: Specialty Vehicles and Recreational Vehicles. The Specialty Vehicles Segment provides customized vehicle solutions for applications, including essential needs for public services (ambulances and fire apparatus) and commercial infrastructure (terminal trucks and industrial sweepers). REV Group’s Recreational Vehicles Segment manufactures a variety of RVs from Class B vans to Class A motorhomes. REV Group's portfolio is made up of well-established principal vehicle brands, including many of the most recognizable names within their industry. Several of REV Group's brands pioneered their specialty vehicle product categories and date back more than 50 years. REV Group trades on the NYSE under the symbol REVG. Investors-REVG

More News From REV Group, Inc.

Back to Newsroom