Accounts – Farris Law Firm http://farrislawfirm.com/ Thu, 30 Sep 2021 09:20:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://farrislawfirm.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Accounts – Farris Law Firm http://farrislawfirm.com/ 32 32 Extend and pretend | Indian express https://farrislawfirm.com/extend-and-pretend-indian-express/ https://farrislawfirm.com/extend-and-pretend-indian-express/#respond Thu, 08 Apr 2021 02:38:36 +0000 https://farrislawfirm.com/extend-and-pretend-indian-express/ The problem of increasing non-performing bank assets has been simmering beneath the surface for many years. Until now, it was possible to sweep the bad news under the rug. But the pressure resulting from bad debts going through the bankruptcy mechanism made it difficult for the expansion and simulation game to continue. The recapitalization of banks is not, however, a reform. It uses taxpayers’ money to cover up failing institutions. To prevent such a failure from happening again, it is important to reform not only governance, but also regulatory oversight.

The problem of bad hidden assets is pervasive throughout the banking system. Public and private sector banks are history. If a bank had practiced fraudulent accounting practices and covered up problems, it could have been blamed and its management punished, as in the case of Satyam and the conviction of Ramalinga Raju. If the problem were limited to public sector banks, we would have found solutions in their governance. Private banks also hide bad assets. The current NPA crisis seems to be as much a failure of the banking regulator. For many years, despite its unchallenged powers to regulate, supervise and inspect banks, the regulator took no action against banks that hid their bad assets. Instead, he came up with one loan restructuring plan after another. None of the programs like CDR, SDR, S4A succeeded and stressed assets increased in number and value. It is only now, when credit growth has collapsed, that solving the problem can no longer be postponed and the regulator has become strict.

There has been a lot of talk about restructuring public sector banks. However, this ignores the fact that private sector banks are in a similar situation as well. The question to ask is: why did the banking regulator not take action against banks that were hiding bad loans? The RBI is a regulator that interferes with banking operations more than any other banking regulator in the world. Given its policy of granting virtually no new banking licenses, the RBI has only a small number of bank books to review. So why did he fail in this basic function?

A charitable explanation could be that its staff are of poor quality. He is ill-equipped to inspect bank books. Why didn’t the RBI see the issues, like late payment of interest and principal, loan renewals, the mechanisms that banks have created to prevent bad loans from being classified as such until in 2015 ? Many regulators, especially overseas and some in India like SEBI, hire industry practitioners to be part of oversight teams. Does the RBI lack adequate side entry and depend on people who have not been on the other side, and therefore continue to be foiled?

A second, less charitable, explanation could be that the bank inspection revealed the bad asset issues. But the inspectors were silent. Minister of Finances Arun jaitley said the problem was hidden under the rug until 2015. In other words, the regulator knew there were bad assets, but did not pressure banks to declare them non-performing. The regulator took no action when the banks continued to pretend. The loans were not declared NPA despite non-payment of interest or principal. Bank inspectors looked the other way when banks extended additional loans to defaulting customers to service those loans. If that was the problem, shouldn’t one wonder why the regulator behaved in this way? Bad credit is an asset that depreciates rapidly. The RBI was the sole authority to exercise control over the banks, and allowing expansion and simulation increased the cost to the taxpayer of bank recapitalization. Who was responsible, who is responsible?

Whatever the correct explanation – incompetence, complicity or an attempt to hide its own inadequacy – there is no doubt that the banking regulator, by not doing its job, has imposed higher costs on the taxpayer. The cost of fixing the NPA problem has increased every year since the RBI hid it, and the burden on the taxpayer has increased.

The RBI currently has an annual expenditure of Rs 13,000 crore. It is the only regulator that is not subject to a CAG audit. In the name of independence, the RBI has become irresponsible. All institutions that spend public money must be held to account, and one that fails in its work cannot be excused for any reason. A mistake as serious as one requiring 2.11 trillion rupees of taxpayer money should be followed by an analysis of the failure of the government agency explicitly charged with preventing this very situation.

Taking into account previous recapitalizations of the PSB and regulatory failures of banks in the past, the Financial Sector Legislative Reform Commission (FSLRC) had proposed changes to governance, regulation, supervision, inspection and to data collection in all regulators, including the RBI. The FSLRC also proposed a resolution firm with the power to inspect banks. While the bill on financial resolution and deposit insurance which aims to create a resolution company for banks has been tabled in Parliament, it does not give it the power to inspect banks and therefore to create checks and balances on the power of the RBI. Without additional supervision, and without checks and balances, the RBI will continue to be the sole supervisor of banks. The resolution firm will only step in after the RBI declares that a bank has gone bankrupt.

Regulatory failure across the world has led to changes in regulatory regimes, laws and institutions. The creation of checks and balances is a necessary part of the reform process. Independence and responsibility are two sides of the same coin. Regulators must have both.

In conclusion, in the discussions on the reform that must accompany the recapitalization, it is important to remember that it is not enough to reform public sector banks. The problem of hiding APNs is also present in private sector banks. Failures in banking regulation must be corrected and checks and balances must be created.

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Single mom earning $ 22,000 as a waitress turned tax refund into million dollar real estate portfolio https://farrislawfirm.com/single-mom-earning-22000-as-a-waitress-turned-tax-refund-into-million-dollar-real-estate-portfolio/ https://farrislawfirm.com/single-mom-earning-22000-as-a-waitress-turned-tax-refund-into-million-dollar-real-estate-portfolio/#respond Thu, 08 Apr 2021 02:38:25 +0000 https://farrislawfirm.com/single-mom-earning-22000-as-a-waitress-turned-tax-refund-into-million-dollar-real-estate-portfolio/

You are reading Entrepreneur United States, an international Entrepreneur Media franchise. This story originally appeared on Black company

When Detroit waitress Ashley Hamilton received her tax refund in 2009, she began her immovable journey.

Unfortunately, the banks weren’t making loans, and she didn’t have credit cards to fund her dreams. So Hamilton used his savings and tax refund to get a three-bedroom house with a basement for $ 6,300.

Every year, she would buy single-family properties in Detroit, pay them in cash, do drug rehabs, and use the properties as rental purchase and retention.

Related: How a 30-year-old woman turned her $ 3,400 tax refund into a side business of $ 12,000 per month

Initially, Hamilton’s plan was to buy a property each year with his tax refund. But she was able to accelerate her portfolio building goals by saving the rents she received from tenants and later accessing loans.

Now, the young investor has a portfolio of 24 rentals and five vacant lots. According to his Instagram page, 14 of his properties are free and clear. All 14 properties are repaid and Hamilton owns full ownership of the real estate assets.

“Not having the money worked to my advantage,” Hamilton told the Bigger Pockets Podcast. “I received a tax return at the end of the year. By only earning about $ 20,000 and having two children, I was able to get a refund of $ 5,000 to $ 6,000.

Since Detroit’s real estate market had a weak entry point during this time, Hamilton’s tax refunds and savings were enough to get it started.

From tax refund to the real estate portfolio

Hamilton dreamed of becoming a millionaire at age 30 and knew that property investment was a practical way to achieve his goal.

Hamilton often recounts how she grew up in poverty without any entrepreneurs or real estate investors in her family. But her dedication to always finding a way has helped her think outside the box. As a single mother with two children, Hamilton understood how real estate investing could take her beyond her waitress salary of $ 22,000.

She realized that if she could buy 10 properties and sell them for $ 100,000 each, she could become a millionaire. Although Hamilton did not join the millionaire club at age 30, she had a portfolio of 10 fully paid-for properties for the use of her savings and tax refunds.

“I was ready to live like most people won’t because I wanted to be financially free,” says Hamilton, explaining the importance of having time available to watch his children grow up. “I knew I had to have passive income so I didn’t have to work so much. “

When Ashley bought her first property, she saved the money to paint the house, hire a local plumber, and make the place habitable. Because she bought her property for cash, she was able to eliminate her biggest expense: rent. She saved the money that would have been allocated to rent to buy her next property.

Its success in real estate investing comes down to one simple strategy: buy, fix, rent, refinance, and repeat.

Building a massive real estate portfolio from scratch

In February, Hamilton decided to quit his job as a part-time bank teller and go into full-time entrepreneurship. Even though she had a few six-figure businesses and a million dollar real estate portfolio under her belt, she still decided to work 20 hours a week to have a stable source of W-2 income.

“I finally did. It is long overdue. I know a lot of people ask me why I am still working there. But the truth is, I really enjoyed what I did. I was also recycling wealth and using a ton of leverage last year, ”Hamilton shared on Instagram.

She adds, “When you use one of those real estate strategies like Brrrr, hack a house, or buy and hold, most of the time you will need some sort of W-2 income to be approved for loans. That’s why a lot of people get stuck after just one or two transactions. I know everyone says they want to hurry up and quit their job. But unfortunately, it’s just not smart, especially at first.

Hamilton recommends that aspiring real estate investors have a well thought out plan and be prepared if things don’t go as planned. She started with her tax refund and eliminated her rent expenses. Then she focused on a frugal life and continued to use her funds to buy properties with cash. Today, Hamilton offers courses to provide others with the resources and information they need to get started.

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How a teacher, ‘born to inspire others’, juggled the needs of students and her own children as the coronavirus raged https://farrislawfirm.com/how-a-teacher-born-to-inspire-others-juggled-the-needs-of-students-and-her-own-children-as-the-coronavirus-raged/ https://farrislawfirm.com/how-a-teacher-born-to-inspire-others-juggled-the-needs-of-students-and-her-own-children-as-the-coronavirus-raged/#respond Thu, 08 Apr 2021 02:38:13 +0000 https://farrislawfirm.com/how-a-teacher-born-to-inspire-others-juggled-the-needs-of-students-and-her-own-children-as-the-coronavirus-raged/

Editor’s Note: Staten Island Advance / SILive.com is proud to dedicate its annual Women of Achievement program, established in 1964 and celebrated annually since, to local heroes; we call it Staten Island Women of Achievement 2020 – The Front Line. When we called for nominations, we received many heartfelt words about these brave women, who have made such a difference in our community throughout the coronavirus pandemic. We are releasing parts of some of these nominations because they are the real voices of the impact of these real heroes. Congratulations to this Woman of Success 2020: Suzanne Fortuna-Paccione.

This nomination was submitted by Patricia Fortuna, the candidate’s sister

STATEN ISLAND, NY – I would like to name my sister, Suzanne Fortuna-Paccione. She is a fifth grade teacher at Our Lady Queen of Peace Elementary School in New Dorp.

I look at her, and I don’t know how she does it.

Documents to note, plans to complete, homework checked, dinner prepared (she is an excellent cook), time spent with family and reflection on her students and their families.

Then March arrives, and school breaks and distance learning begins with a 10-year-old girl, an 8-year-old girl with autism and students in her class.

“My own children have become my students. In no time, I became their teacher, speech therapist, occupational therapist and physiotherapist all at the same time, ”Suzanne told Advance / SILive.com.

“Throughout this horrible pandemic, I have said to myself, ‘I was not born to teach. I was born to inspire others, to change people and never to give up ”, even in the face of challenges that seemed impossible. My children and my students have given me the strength every day to go through these most difficult and difficult times. ‘

Suzanne is pictured here with her sons.

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Christian rapper Flame to get $ 2.8 million from Katy Perry and her team after judge overturns copyright verdict https://farrislawfirm.com/christian-rapper-flame-to-get-2-8-million-from-katy-perry-and-her-team-after-judge-overturns-copyright-verdict/ https://farrislawfirm.com/christian-rapper-flame-to-get-2-8-million-from-katy-perry-and-her-team-after-judge-overturns-copyright-verdict/#respond Thu, 08 Apr 2021 02:38:00 +0000 https://farrislawfirm.com/christian-rapper-flame-to-get-2-8-million-from-katy-perry-and-her-team-after-judge-overturns-copyright-verdict/

In July, a jury ruled that Katy Perry and her team had ripped off Christian rapper Flame in his song “Dark Horse.” Flame claimed that part of the signature to his hit single infringed the copyright of a song he had previously released called “Joyful Noise”.

Here is a comparison of the two tracks.

At the time, the court ruled that Perry owed $ 2.8 million. However, following an appeal, a judge overturned that ruling, writing: “Because the only musical phrase on which the plaintiffs claim that the infringement is not a protectable expression, the extrinsic test is not satisfied. and the plaintiffs ‘infringement claim – even with the plaintiffs’ interpreted evidence “favor -” fails in law. “

In essence, United States District Court Judge Christina Snyde believes that the portion of the song in dispute is not original enough to be copyrighted.

Snyde wrote: “It is undisputed in this case, even considering the evidence in the most favorable light to the complainants, that the signature elements of the 8-note ostinato in ‘Joyful Noise’ … is not a combination. particularly unique or rare, even in its deployment as an ostinato: the earlier compositions, including the earlier works composed by the parties, as well as what all agree of a distinct non-infringing ostinato in “Dark Horse”, all contain similar items. “

See also


Following the ruling, Perry’s attorney says Billboard, “In a well-reasoned and methodical decision, the court rightly overturned the jury’s verdict, ruling that Dark Horse is not in violation of Joyful Noise, in law. This is an important victory for music creators and the music industry, recognizing that the building blocks of music cannot be monopolized. The creators of Dark Horse are justified.

It’s a big win for Team Perry, but RELEVANT has been covering this legal battle since 2014 – it seems unlikely that he is gone for good.

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Government Housing Package Injects $ 3.8 Billion Into Supply, Doubles Light Line Test, Expands Eligibility For First-Time Homebuyers | 1 NEWS https://farrislawfirm.com/government-housing-package-injects-3-8-billion-into-supply-doubles-light-line-test-expands-eligibility-for-first-time-homebuyers-1-news/ https://farrislawfirm.com/government-housing-package-injects-3-8-billion-into-supply-doubles-light-line-test-expands-eligibility-for-first-time-homebuyers-1-news/#respond Thu, 08 Apr 2021 02:37:14 +0000 https://farrislawfirm.com/government-housing-package-injects-3-8-billion-into-supply-doubles-light-line-test-expands-eligibility-for-first-time-homebuyers-1-news/

The government is injecting nearly $ 4 billion into the housing supply to boost development as part of a plan to tackle the housing crisis in the country announced today.

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Many New Zealanders find it difficult to enter the housing market. Source: 1 NEWS


This makes more first-time buyers eligible for grants and loans and doubles the light line test in today’s housing package.

The government has come under pressure to deal with the housing crisis, which has resulted in soaring prices, coupled with huge demand and a growing waiting list for public housing.

Prime Minister Jacinda Ardern described it as “a package of both urgent and long-term measures that will increase the supply of housing, relieve market pressure and make it easier for first-time buyers.”

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1 NEWS ‘Simon Dallow reviews some of the big moves in the package.


“The housing crisis is a problem that has been brewing for decades and will take time to recover, but these measures will make a difference.”

National leader Judith Collins described the package as “another cheap blow to homeowners.”

“By removing interest deductions and doubling the light line test, fewer houses will be built, fewer houses will be available for rental, rents will rise, and more children will grow up in motels.”

$ 3.8 billion housing acceleration fund to encourage supply

The multibillion-dollar fund is intended for a combination of private and government housing development, with additional funds intended to increase the use of vacant or underutilized state-owned land for housing.

It will be used to fund infrastructure projects across New Zealand, while accelerating the delivery of large-scale public, affordable and mixed housing projects.

Government invests $ 3.8 billion to accelerate the pace and scale of home construction

The government wants the local councils to open up the land and allow the densification of housing.

Housing Minister Megan Woods expected her to “help give the green light to tens of thousands of home construction in the short and medium term.”

“This fund will revive housing developments by financing necessary services, such as roads and pipes to homes, which are currently delaying development,” said Woods.

The government changes regional real estate ceilings for the first home loan grant and allows people to earn more to qualify for grants and access five percent loans.

First-time home buyers can access grants of $ 5,000 for an existing home or $ 10,000 for new construction – however, the property must be below a certain price, which is different in each region.

Auckland, which has a median house price of $ 1.1 million according to REINZ, sees its ceiling drop from $ 625,000 to $ 700,000. Wellington, whose median house price is $ 890,000, has fallen from $ 550,000 to $ 650,000.

Government Expands First-Time Home Buyer Assistance Criteria – Are You Eligible?

Christchurch has increased its cap from $ 500,000 to $ 550,000.

The eligibility of five percent home loans for first-time buyers has been expanded.

The home price cap for loans has been increased from $ 650,000 to $ 700,000, a person can earn up to $ 95,000 or have up to $ 150,000 with more than one buyer.

The income limits were originally $ 85,000 for one person and $ 130,000 for more than one.

The light line test is doubled from five years to 10.

Clear property rules tax money earned on an additional home as income, if it is sold within a certain amount of time. It does not apply to the family home.

The Bright-line test for double houses from five to 10 years old

The current test of only five years will remain the same for new investment properties.

Finance Minister Grant Robertson said the extension “would dampen speculative demand and tip the scales in favor of first-time homebuyers.”

Closure of the interest deductibility loophole

The possibility for real estate investors to offset interest charges with rental income is removed.

The government is also considering closing interest-only loans to speculators.

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Angry but determined: Portuguese workers protest for better wages amid pandemic https://farrislawfirm.com/angry-but-determined-portuguese-workers-protest-for-better-wages-amid-pandemic/ https://farrislawfirm.com/angry-but-determined-portuguese-workers-protest-for-better-wages-amid-pandemic/#respond Thu, 08 Apr 2021 02:36:44 +0000 https://farrislawfirm.com/angry-but-determined-portuguese-workers-protest-for-better-wages-amid-pandemic/

LISBON (Reuters) – Thousands of workers gathered in towns and cities across Portugal on Saturday to demand higher wages and more government action to protect jobs threatened by the coronavirus pandemic.

During peaceful protests, organized by Portugal’s largest umbrella union, CGTP, workers wearing masks and keeping a safe distance urged the country’s socialist government to increase the national minimum wage to 850 euros from the current 635 euros, the lowest in Western Europe.

“Workers’ rights are increasingly being stolen,” said Anabela Vogado, of the CESP union, as she walked towards Lisbon’s main square. “The fear of the pandemic cannot deprive us of our rights. “

Unemployment in Portugal topped 400,000 in August, according to the latest data, and is up by more than a third compared to the same period last year.

In the southern Algarve region, which depends heavily on tourism, the number of people registered as unemployed climbed 177% in August compared to a year ago.

“Why is there so much money to support (companies) with investments and moratoriums and then there is no political courage to prevent workers from being made redundant?” Said Luis Batista , a visibly angry worker.

The government, led by Prime Minister Antonio Costa, has introduced several measures to help businesses weather the coronavirus pandemic, including state-guaranteed loans and the deferral of some tax payments.

It also introduced a leave scheme, allowing companies to temporarily suspend jobs or reduce working hours instead of laying off workers. But those who demonstrated on Saturday believe the measures were not enough.

“Our government mainly supports businesses and forgets workers,” said glassmaker Pedro Milheiro, who joined the protest in Lisbon to express his frustration. “More support is needed. “

Reporting by Catarina Demony and Miguel Pereira; Editing by Christina Fincher

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Lions’ Darrell Bevell explains why he prefers more mobile backup quarterbacks https://farrislawfirm.com/lions-darrell-bevell-explains-why-he-prefers-more-mobile-backup-quarterbacks/ https://farrislawfirm.com/lions-darrell-bevell-explains-why-he-prefers-more-mobile-backup-quarterbacks/#respond Wed, 07 Apr 2021 23:17:43 +0000 https://farrislawfirm.com/lions-darrell-bevell-explains-why-he-prefers-more-mobile-backup-quarterbacks/

ALLEN PARK – Matthew Stafford is known for his superior ball placement and tight throws with the best the NFL has to offer, skills hard to find in reserve quarterbacks.

Stafford is also known for not missing a lot of time despite a long list of injuries during his 12 years at Detroit. The Lions quarterback missed eight games last year and is likely to miss this weekend’s game in Tennessee with a rib cartilage injury. Chase Daniel has replaced Stafford twice this season.

Darrell Bevell, the Lions offensive coordinator and interim head coach, turned out to prefer a more mobile quarterback than a tight pitcher closer to Stafford’s style. Josh Johnson started last year as a main replacement, and it was Jeff Driskel who got the first chance to replace Stafford in 2019. Driskel enjoyed a few moments in his three starts last year, with a 151 yard run and one touchdown. He converted 10 first tries by scrambling or extending plays out of the pocket with his legs.

David Blough isn’t known for his wheels, and Daniel certainly isn’t freewheeling like he was during his days in Missouri. Still, the team’s addition of a quarterback is fueling that thought process. Jordan Ta’amu on the training squad following Stafford’s injury. Bevell was asked if he would prefer to have a mobile backup, saying it opens up different areas of the game plan while making things easier in some places.

“Some things can be a bit, I guess, simplified when you have a bit more of a mobile quarterback,” Bevell said. “You can do different things and you can simplify the game in certain ways for him, because obviously you can always save the game with your feet. It doesn’t take anything away from Matthew (Stafford), he does a phenomenal job and he does everything we would like him to do. But just in this position you’re going to get minimal reps, so you won’t be able to be as focused on some of the progressions and readings, and being mobile kind of allows you to give yourself that second chance opportunity on a play.

It should be noted that it looks like Stafford will do whatever he can to play this weekend, with the team giving him the whole weekend to see how he progresses.

Related: Matthew Stafford trying to remove cartilage damage: “I just need to be able to function, you know?”

For what it’s worth, Daniel managed to pull out of his pocket and score on a scramble in relief last weekend. A call on hold wiped the points off the board, but the game certainly gave the veteran a boost of confidence.

“Yeah, I didn’t know I still had that kind of speed on the edge so it gave me a bit of confidence knowing that at 34 I could still trot a bit,” said Daniel. “But it was for nothing. But, it was, yeah, it would’ve been nice to score that drive, you know, seven, I know we scored a basket. My mindset was just like, “hey, like, I’m probably going to have two records here, we have to score on both. The third and 14 were pretty safe with the Hock throw in the middle because I knew we needed a kick out no matter what we did. For the most part, I felt quite happy. The coach was pretty happy with what I was able to do, on the way down, and then we had the big comeback from Ag (new). It certainly helps. I was hoping for another chance, that’s for sure.

One thing to remember is that Daniel has taken on an increased role in training in recent weeks due to Stafford’s thumb injury to his throwing hand. Those first-team reps might come in handy this weekend, but Stafford isn’t counting it yet.

Related: With Matthew Stafford ill, Detroit Lions add fourth QB Jordan Ta’amu to practice squad

Daniel, one of the highest paid alternate quarterbacks in league history, has started five games in 11 seasons. He completed 11 of 19 attempts for 123 yards with one touchdown and one interception in two appearances this year. He won’t let the ball tear the pitch like Stafford, especially with star wide receiver Kenny Golladay looking unlikely to return this weekend. Daniel has said he will use his legs when needed, but he doesn’t like running and seeks to “pass the ball like a quarterback does.”

“Not really, because I’m tired and not as fit as I used to be,” Daniel said when asked if he likes to run. “(I’m in) pretty good form, but I prefer to pass football like a quarterback does. But, definitely, when things go down, I can use my legs a bit.

“Look, I’m just going to do my reading. If a game fails, like any other quarterback, I’ll try to get out of this mess and find the guy open.

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Lendified announces private placement financing of up to $ 5,000,000 https://farrislawfirm.com/lendified-announces-private-placement-financing-of-up-to-5000000/ https://farrislawfirm.com/lendified-announces-private-placement-financing-of-up-to-5000000/#respond Wed, 07 Apr 2021 23:17:41 +0000 https://farrislawfirm.com/lendified-announces-private-placement-financing-of-up-to-5000000/

Toronto, Ontario – (Newsfile Corp. – April 7, 2021) – Lendified Holdings Inc. (TSXV: LHI) (formerly Hampton Bay Capital Inc.) (the “Society” Where “Lendified“) is pleased to announce that it has entered into an engagement letter with Canaccord Genuity Corp. (“Canaccord“), as lead manager and sole bookrunner, on his own behalf and on behalf of a syndicate of agents which may be formed (the”Agents“), pursuant to which the Agents have agreed to sell, on a commercially reasonable effort basis, on a private placement basis, up to 100,000,000 Lendified Subscription Receipts (the”Subscription receipts“) at a price of $ 0.05 per subscription receipt (the”Issue price“) for total gross proceeds accruing to Lendified up to $ 5,000,000 (the”Offer“). Each Subscription Receipt will allow its holder to receive, without payment of any additional consideration and without any other action from its holder, a share of the Company (a”Unity“) composed of one ordinary share of the Company (a”Ordinary share“) and a common share purchase warrant (a”To guarantee“) upon satisfaction of certain conditions of discharge from the receiver (“Escrow Release Conditions“). Each warrant may be exercised to acquire one common share at an exercise price of $ 0.07 per common share for a period of 24 months from the date on which the escrow release conditions are met.

In connection with the Offering, Lendified has, subject to regulatory approval, agreed to: (i) pay to the Agents a commission of 7% of the gross proceeds of the Offering, payable in cash or subscription receipts, or any combination of the two at the option of the Agents; (ii) issue to the Agents warrants exercisable at any time before the date falling 24 months from the date on which the escrow release conditions are met to acquire that number of units equal 7% of the total number of subscription receipts issued under the Offer, at an exercise price equal to the Issue Price; and (iii) issue to Canaccord a number of Subscription Receipts equal to 3.0% of the total number of Subscription Receipts issued in connection with the Offering.

The net proceeds of the Offering, once the escrow release conditions are satisfied, will be used for additions of key professional personnel, regulatory and compliance costs and for general working capital purposes.

There can be no assurance that the Offering will be completed on the terms set forth herein, or at all, or that the proceeds of the Offering will be sufficient for the purposes of the Company set forth herein.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or on behalf of or for the benefit of, persons of the United States. – United in the absence of registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell securities in the United States.

Subject to approval by the TSX Venture Exchange (the “TSXV“), it is expected that the closing of the Offering will occur on a date agreed to by the Company and Canaccord.

ABOUT LENDIFIED HOLDINGS INC.

Lendified, a company located in Ontario, Canada, is a Canadian company that operates a lending platform that provides working capital loans to small and medium-sized businesses across Canada.

Further information

For more information on Lendified, please contact:

John Gillberry, CEO and Director
1-844-451-3594
john.gillberry@lendified.com

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

This press release may contain forward-looking statements that reflect the Company’s current expectations regarding future events. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan,” estimate “,” expect “,” intend “and statements according to. which an event or result “may”, “will”, “should”, “could” or “could” occur or be achieved and other similar expressions. These forward-looking statements involve risks and uncertainties, including, but without limitation, if the Offer will be approved by the TSX Venture Exchange or if the proceeds of the Offering will be sufficient for the needs of the Company, the expected timing of the closing of the Offering and the satisfaction of the release conditions of escrow, if the effects of the COVID-19 pandemic will be even more severe than they have been to date, each of which could cause the results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the company. The Company’s current quarterly documents should be consulted for additional information on the risks and uncertainties associated with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. Management assumes no obligation to update or modify any forward-looking statements, whether as a result of new information, other events or otherwise..

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Should the United States Donate COVID Vaccine Doses to Less Rich Countries? Some want to wait until all consenting Americans can be vaccinated https://farrislawfirm.com/should-the-united-states-donate-covid-vaccine-doses-to-less-rich-countries-some-want-to-wait-until-all-consenting-americans-can-be-vaccinated/ https://farrislawfirm.com/should-the-united-states-donate-covid-vaccine-doses-to-less-rich-countries-some-want-to-wait-until-all-consenting-americans-can-be-vaccinated/#respond Wed, 07 Apr 2021 23:17:40 +0000 https://farrislawfirm.com/should-the-united-states-donate-covid-vaccine-doses-to-less-rich-countries-some-want-to-wait-until-all-consenting-americans-can-be-vaccinated/ Like the United States faces calls To share excess COVID-19 vaccine doses with less wealthy countries, a new study suggests Americans have divergent views on the appropriate levels and timing of so-called vaccine diplomacy.

Seniors in a survey of 788 U.S. adults were less likely to support higher levels of U.S. COVID-19 vaccine donation to low- and middle-income countries, and more likely to say they wanted to wait that all the United States that wanted their vaccines had been vaccinated, according to the study by researchers at Virginia Commonwealth University in the peer-reviewed journal Vaccine.

“This may be because older people are themselves a higher risk group and, therefore, might be more concerned about their own health or that of their peers,” the authors suggested.

Likewise, uninsured respondents were more likely to say they wanted to wait to donate until all consenting U.S. recipients had been vaccinated, and more likely to support while all high-risk Americans had been vaccinated. been vaccinated. This could indicate the concerns of economically vulnerable Americans over vaccine access, the authors wrote, “and speaks to the importance of developing and communicating a strong plan for equitable access to vaccines. in United States”

Meanwhile, Democrats self-identified in the study were more likely than Republicans to support higher levels of giving – consistent, according to the study, with Democrats’ support for universal health care and policies in the field. immigration more lenient.

Respondents who scored higher on the orientation of social dominance (a tendency to believe that “one’s own group should dominate and be superior to other groups,” as the study puts it) were also more likely to support until all Americans who wanted coronavirus vaccines were vaccinated and are less likely to want higher levels of donation. This characteristic, according to the authors, was “by far the greatest predictor.”

About eight in ten respondents said they supported donating at least 10% of future doses of the U.S. COVID-19 vaccine to the poorest countries, although nearly six in 10 said the doses should not. not be given until “at least a certain threshold of national vaccination has taken place.” . “

“Despite some hesitation among a minority of the sample, many respondents recognized the importance of closing the gap,” study co-author Bernard Fuemmeler, professor at VCU’s medical school, said in a press release. “Decision makers should be encouraged to have vaccine donation proposals accepted. “

That said, the authors cautioned that their sample’s quotas for race and ethnicity – which allowed them to compare demographic subgroups – might also have skewed a greater willingness to give doses. They cautioned that the percentages given were not representative of the US population.

But the findings still have implications for how U.S. policymakers and health professionals can build public support among different groups for donating vaccine doses overseas, the authors said – and how. how the messages should vary.

“More precisely, those who have a high [Social Dominance Orientation] beliefs are likely to be more effectively persuaded by messages exploiting American exceptionalism and the need to provide aid to the least developed, while those affiliated with the Democratic Party might be more persuaded by collectivist messages stressing that we are all in the same boat, ”they wrote. .

What the United States has done so far

President Biden scheduled for early March that the United States would have enough doses by the end of May to immunize every adult. “We want to be over-provisioned and over-prepared,” Jen Psaki, White House press secretary said before Biden’s announcement a few days later that the United States would buy an additional 100 million doses of Johnson & Johnson JNJ,
-0.30%
vaccine by the end of the year to allow “maximum flexibility”.

In the meantime, Biden faces the pressure from several corners to give extra doses to other countries, such as countries such as China and India have done as a form of diplomacy.

“We’re going to have an oversupply,” Zeke Emanuel, a University of Pennsylvania oncologist and bioethicist who helped develop the Affordable Care Act and advised Biden’s transition team, Axios said in March. “It would be unethical, and it would be a diplomatic and strategic error, to say that we have to buffer 100 million doses while China and Russia sell to people and say, you know, ‘You them. guy, count. “”

the administration of Biden, which re-engages the United States with the World Health Organization once the president has taken office, has so far said he would lend 4 million AstraZeneca AZN in total,
+1.46%
doses in Mexico and Canada, where regulators have licensed this vaccine, and contribute $ 4 billion in Covax, the global vaccine-sharing effort to ensure a more equitable distribution between low- and high-income countries.

Biden and the leaders of Japan, India and Australia (collectively known as the “Quad” alliance) also pledged to help the Indo-Pacific countries with vaccination, in particular thanks to the American financial support of the Indian manufacturer Biological E for the production of at least 1 billion doses of vaccine by the end of 2022.

Asked what additional steps the Biden administration plans to take – particularly in how to give vaccine doses – and when the administration would estimate they have enough vaccine to start giving doses overseas, a carrier White House word directed MarketWatch to Psaki’s comments during a separate briefing on March 22.

In response to a question about sharing vaccine doses, Psaki noted that the United States had been one of the countries hardest hit by the virus and said there were “still a number of factors unpredictable events that we need to plan to the best of our ability ”, such as the impact of variants and the best course of action for children, who are not yet eligible to receive the currently authorized Pfizer EFP,
-0.57%,
Moderna mRNA,
-5.38%
and the Johnson & Johnson vaccines.

As the administration becomes convinced that its vaccine supply is sufficient, she added, it will explore options to share doses more widely.

“We fully recognize that in order to beat the pandemic on a global scale… the global community must be vaccinated. But there is a shortage of supply, at this stage, in the world, but also in the whole country, ”she said. “We’re not sitting on a secret dose of supplies. We’re trying to get them out as quickly as possible at this point. “

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EBRD supports KESH’s first floating photovoltaic solar power plant in Albania https://farrislawfirm.com/ebrd-supports-keshs-first-floating-photovoltaic-solar-power-plant-in-albania/ https://farrislawfirm.com/ebrd-supports-keshs-first-floating-photovoltaic-solar-power-plant-in-albania/#respond Wed, 07 Apr 2021 23:17:38 +0000 https://farrislawfirm.com/ebrd-supports-keshs-first-floating-photovoltaic-solar-power-plant-in-albania/

Albania is making rapid progress on its plans to meet its renewable energy targets, with the construction of a 12.9 MW floating solar photovoltaic (PV) farm thanks to a € 9.1 million loan granted by the European Bank for Reconstruction and Development (EBRD). The farm will be the first floating solar power plant of this size in Albania and the Western Balkans.

The power station will be built on the reservoir of the Vau i Dejës hydroelectric power station, which is managed by Korporata Elektroenergjitike Shqiptare (KESH). It represents a breakthrough in innovative green technology, using Albania’s rich solar resources while avoiding the use of rare earths.

The EBRD loan will be provided for a special purpose vehicle owned by KESH and placed for the construction of the project. Structured as a project finance loan and granted on a commercial basis, the EBRD loan is the first such financing by an international financial institution and will help commercialize KESH, one of the largest utilities in the world. Albania.

KESH owns and operates three large hydropower plants with a total capacity of 1,350 MW which represent around 70% of Albanian national production. The new solar photovoltaic power plant will help make KESH more resilient to climate-induced risks with respect to hydrology and seasonality.

The project also aligns with Albania’s broader ambition to develop its solar capacity, which has resulted in two successful auctions supported by the EBRD and offering very competitive tariffs: the 140 MW Karavasta project and the Spitalle project. of 100 MW.

The EBRD has also mobilized € 315,830 to support project preparation, in particular the framework for the preparation and implementation of green economy projects financed by the Austrian government (the DRIVE Fund) and the Technical Cooperation Fund. TaiwanBusiness-BERD.

Francesco Corbo, EBRD Regional Energy Manager for the Western Balkans, said: “We are delighted to support this groundbreaking project, which is another important step in Albania’s successful campaign to increase solar capacity and improve its energy mix. The project is remarkable for its innovative technology, its positive environmental impact and its commercial logic. It also has the potential to be replicated in the wider Western Balkans region, which has numerous hydroelectric reservoirs. This is our first opportunity to fund floating solar PV technology and we look forward to many similar projects in the future. “

Besjan Kadiu, CEO of KESH, added: “The project is of particular importance to KESH. It positions the company as a contributor to Albanian and global initiatives to invest in renewable energy production using innovative photovoltaic technology compatible with hydropower production. Although small in size, the project not only provides opportunities for the further development of public generation assets on a solid commercial, technical and environmental basis, but also showcases the know-how needed to operate a hybrid hydro-photovoltaic system. . This is another great example of the ongoing partnership between the EBRD and KESH. “

The EBRD is a leading institutional investor in Albania. To date, the Bank has invested over € 1.5 billion in loans in 110 projects across the country.

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