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Sowei 2025-01-13
California-based cannabis operator Gold Flora Corp. GRAM is on the brink of receivership (a legal process in which a court appoints an independent party to manage a company's assets and operations, often as a last-ditch effort to recover debts or restructure the business) as it struggles with significant financial challenges. As MJBiz Daily reported , the financial recovery firm Global Assets Liens & Foreclosure has filed an ex parte application for receivership in Santa Barbara Superior Court, citing more than $236,725 in unpaid invoices. The hearing is scheduled for November 27. Receivership Specialist Tapped Global Assets has requested Kevin Singer of Receivership Specialists, known for handling cannabis industry cases involving Herbl, High Times and StateHouse Holdings STHZF , to serve as receiver for Gold Flora. Currently operating under a limited receivership in Delaware, Gold Flora has reported losses exceeding $37 million. Liquidity Crisis And Cost-Cutting Measures Recent filings reveal that Gold Flora is grappling with severe liquidity issues. A proxy statement highlighted a 1-for-50 reverse stock split and plans for substantial share issuance as part of its survival strategy. The company is also implementing cost-cutting measures, including a 10% payroll reduction, according to chief financial officer Marshall Minor during a November 14 earnings call. Expansion Amid Financial Struggles Despite its financial instability, Gold Flora CEO Laurie Holcomb announced plans to expand the company's portfolio, emphasizing the launch of its new Gramlin cannabis products. This move comes as the company works to stabilize operations after its 2023 merger with TPCO Holdings , also known as The Parent Co. The merger, an all-stock deal, resulted in the formation of a new parent company, operating as Gold Flora Corp. It provided access to a $5 million line of credit from The Parent Co. at a 10% annual interest rate secured by Gold Flora's assets. The deal was projected to streamline operations and deliver annual savings of $20 million to $25 million, though the company's current financial state suggests those benefits have yet to materialize. The Road Ahead Gold Flora's financial troubles highlight ongoing challenges for cannabis operators navigating a competitive and highly regulated industry. The upcoming hearing could determine the company's future as it attempts to balance cost-cutting with expansion plans. Gold Flora shares traded up 4.91% at $0.043 per share at the time of this publication. Cover image made with AI © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.BOSTON , Dec. 13, 2024 /PRNewswire/ -- Below is the November 2024 Monthly Update for the Liberty All-Star Equity Fund USA . Liberty All-Star Equity Fund Ticker: USA Monthly Update, November 2024 Investment Approach: Fund Style: Large-Cap Core Fund Strategy: Combines three value-style and two growth-style investment managers. Those selected demonstrate a consistent investment philosophy, decision making process, continuity of key people and above-average long-term results compared to managers with similar styles. Investment Managers: Value Managers: Aristotle Capital Management, LLC Fiduciary Management, Inc. Pzena Investment Management, LLC Growth Managers: Sustainable Growth Advisers, LP TCW Investment Management Company Top 20 Holdings at Month-End: (34.5% of equity portfolio) 1 Microsoft Corp. 4.0 % 2 NVIDIA Corp. 3.7 % 3 Amazon.com, Inc. 2.7 % 4 Alphabet, Inc. 2.6 % 5 UnitedHealth Group, Inc. 2.3 % 6 Visa, Inc. 1.9 % 7 ServiceNow, Inc. 1.9 % 8 Meta Platforms, Inc. 1.7 % 9 Capital One Financial Corp. 1.5 % 10 S&P Global, Inc. 1.4 % 11 Charles Schwab Corp. 1.3 % 12 Fresenius Medical Care AG 1.2 % 13 Booking Holdings, Inc. 1.1 % 14 Sony Group Corp. 1.1 % 15 Ecolab, Inc. 1.1 % 16 Berkshire Hathaway, Inc. 1.0 % 17 Ferguson Enterprises, Inc. 1.0 % 18 Danaher Corp. 1.0 % 19 O'Reilly Automotive, Inc. 1.0 % 20 Wells Fargo & Co. 1.0 % Holdings are subject to change. Monthly Performance: Performance NAV Market Price Discount Beginning of month value $7.07 $7.03 -0.6 % Distributions (Ex-Date November 15 th ) $0.18 $0.18 End of month value $7.34 $7.30 -0.5 % Performance for month 6.38 % 6.40 % Performance year-to-date 20.39 % 26.68 % Net Assets at Month-End ($millions): Total $2,096.4 Equities $2,088.6 Percent Invested 99.6 % Sector Breakdown* (% of equity portfolio): Information Technology 22.5 % Financials 21.3 % Health Care 14.5 % Consumer Discretionary 12.5 % Industrials 9.2 % Communication Services 7.1 % Consumer Staples 4.6 % Materials 4.4 % Energy 1.8 % Utilities 1.5 % Real Estate 0.6 % Total Market Value 100.0 % *Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS). New Holdings None Holdings Liquidated: Arch Capital Group, Ltd. The net asset value (NAV) of a closed-end fund is the market value of the underlying investments (i.e., stocks and bonds) in the Fund's portfolio, minus liabilities, divided by the total number of Fund shares outstanding. However, the Fund also has a market price; the value at which it trades on an exchange. If the market price is above the NAV the Fund is trading at a premium. If the market price is below the NAV the Fund is trading at a discount. Performance returns for the Fund are total returns, which includes dividends, and are net of management fees and other Fund expenses. Returns are calculated assuming that a shareholder reinvested all distributions. Past performance cannot predict future investment results. Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information shown does not reflect the deduction of taxes that shareholders would pay on Fund distributions or the sale of Fund shares. Shareholders must be willing to tolerate significant fluctuations in the value of their investment. An investment in the Fund involves risk, including loss of principal. Sources of distributions to shareholders may include ordinary dividends, long-term capital gains and return of capital. The final determination of the source of all distributions in 2024 for tax reporting purposes will be made after year end. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during its fiscal year and may be subject to changes based on tax regulations. Based on current estimates a portion of the distributions consist of a return of capital. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholder 1099-DIV forms after the end of the year. All data is as of November 30, 2024 unless otherwise noted. Liberty All-Star® Equity Fund 1-800-241-1850 www.all-starfunds.com libinfo@alpsinc.com View original content to download multimedia: https://www.prnewswire.com/news-releases/liberty-all-star-equity-fund-november-2024-monthly-update-302331691.html SOURCE Liberty All-Star Equity Fund © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.1 000 fish

WASHINGTON—With widespread support from her Republican colleagues, Rep. Nancy Mace (R-SC) introduced a bill Friday that would ban transgender lawmakers from the congressional gymnastics team. “I don’t care how good their bar routine is—no trans lawmaker will ever step on this mat,” Mace said in support of the two-page resolution aimed at preventing incoming Delaware Democrat Sarah McBride from competing as a member of the elite congressional women’s gymnastics team, known as the House Stars Elite. “We’re going up against the Senate Stripes this year, and we’re going to win, fair and square. If any trans legislator wants to participate in gymnastics, they’ll just have to join the gym across the street.” Reached for comment, a baffled McBride responded by stating that she had never expressed interest in gymnastics.

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By Vanessa G. Sánchez, KFF Health News (TNS) LOS ANGELES — President-elect Donald Trump’s promise of mass deportations and tougher immigration restrictions is deepening mistrust of the health care system among California’s immigrants and clouding the future for providers serving the state’s most impoverished residents. At the same time, immigrants living illegally in Southern California told KFF Health News they thought the economy would improve and their incomes might increase under Trump, and for some that outweighed concerns about health care. Community health workers say fear of deportation is already affecting participation in Medi-Cal, the state’s Medicaid program for low-income residents, which was expanded in phases to all immigrants regardless of residency status over the past several years. That could undercut the state’s progress in reducing the uninsured rate, which reached a record low of 6.4% last year. Immigrants lacking legal residency have long worried that participation in government programs could make them targets, and Trump’s election has compounded those concerns, community advocates say. The incoming Trump administration is also expected to target Medicaid with funding cuts and enrollment restrictions , which activists worry could threaten the Medi-Cal expansion and kneecap efforts to extend health insurance subsidies under Covered California to all immigrants. “The fear alone has so many consequences to the health of our communities,” said Mar Velez , director of policy with the Latino Coalition for a Healthy California. “This is, as they say, not their first rodeo. They understand how the system works. I think this machine is going to be, unfortunately, a lot more harmful to our communities.” Alongside such worries, though, is a strain of optimism that Trump might be a boon to the economy, according to interviews with immigrants in Los Angeles whom health care workers were soliciting to sign up for Medi-Cal. Since Election Day, community health worker Yanet Martinez said, people are more reluctant to hear her pitch for subsidized health insurance or cancer prevention screenings. “They think I’m going to share their information to deport them,” Martinez said. (Vanessa G. Sánchez/KFF Health News/TNS) Clinics and community health workers encourage immigrants to enroll for health coverage through Medi-Cal and Covered California. But workers have noticed that fear of deportation has chilled participation. (Vanessa G. Sánchez/KFF Health News/TNS) Community health workers like Yanet Martinez encourage people to enroll for health benefits. But many California immigrants fear that using subsidized services could hurt their chances of obtaining legal residency. (Vanessa G. Sánchez/KFF Health News/TNS) Since Election Day, community health worker Yanet Martinez said, people are more reluctant to hear her pitch for subsidized health insurance or cancer prevention screenings. “They think I’m going to share their information to deport them,” Martinez said. (Vanessa G. Sánchez/KFF Health News/TNS) Selvin, 39, who, like others interviewed for this article, asked to be identified by only his first name because he’s living here without legal permission, said that even though he believes Trump dislikes people like him, he thinks the new administration could help boost his hours at the food processing facility where he works packing noodles. “I do see how he could improve the economy. From that perspective, I think it’s good that he won.” He became eligible for Medi-Cal this year but decided not to enroll, worrying it could jeopardize his chances of changing his immigration status. “I’ve thought about it,” Selvin said, but “I feel like it could end up hurting me. I won’t deny that, obviously, I’d like to benefit — get my teeth fixed, a physical checkup.” But fear holds him back, he said, and he hasn’t seen a doctor in nine years. It’s not Trump’s mass deportation plan in particular that’s scaring him off, though. “If I’m not committing any crimes or getting a DUI, I think I won’t get deported,” Selvin said. Petrona, 55, came from El Salvador seeking asylum and enrolled in Medi-Cal last year. She said that if her health insurance benefits were cut, she wouldn’t be able to afford her visits to the dentist. A street food vendor, she hears often about Trump’s deportation plan, but she said it will be the criminals the new president pushes out. “I’ve heard people say he’s going to get rid of everyone who’s stealing.” Although she’s afraid she could be deported, she’s also hopeful about Trump. “He says he’s going to give a lot of work to Hispanics because Latinos are the ones who work the hardest,” she said. “That’s good, more work for us, the ones who came here to work.” Newly elected Republican Assembly member Jeff Gonzalez, who flipped a seat long held by Democrats in the Latino-heavy desert region in the southeastern part of the state, said his constituents were anxious to see a new economic direction. “They’re just really kind of fed up with the status quo in California,” Gonzalez said. “People on the ground are saying, ‘I’m hopeful,’ because now we have a different perspective. We have a businessperson who is looking at the very things that we are looking at, which is the price of eggs, the price of gas, the safety.” Related Articles National Politics | Mexico tests cellphone app allowing migrants to send alert if they are about to be detained in US National Politics | Healey vs. ICE: Massachusetts’ sanctuary status under fire National Politics | Trump wants mass deportations. For the agents removing immigrants, it’s a painstaking process National Politics | Maura Healey says Massachusetts is ‘not a sanctuary state,’ shelter costs will decrease National Politics | Immigration agency deports highest numbers since 2014, aided by more flights Gonzalez said he’s not going to comment about potential Medicaid cuts, because Trump has not made any official announcement. Unlike most in his party, Gonzalez said he supports the extension of health care services to all residents regardless of immigration status . Health care providers said they are facing a twin challenge of hesitancy among those they are supposed to serve and the threat of major cuts to Medicaid, the federal program that provides over 60% of the funding for Medi-Cal. Health providers and policy researchers say a loss in federal contributions could lead the state to roll back or downsize some programs, including the expansion to cover those without legal authorization. California and Oregon are the only states that offer comprehensive health insurance to all income-eligible immigrants regardless of status. About 1.5 million people without authorization have enrolled in California, at a cost of over $6 billion a year to state taxpayers. “Everyone wants to put these types of services on the chopping block, which is really unfair,” said state Sen. Lena Gonzalez, a Democrat and chair of the California Latino Legislative Caucus. “We will do everything we can to ensure that we prioritize this.” Sen. Gonzalez said it will be challenging to expand programs such as Covered California, the state’s health insurance marketplace, for which immigrants lacking permanent legal status are not eligible. A big concern for immigrants and their advocates is that Trump could reinstate changes to the public charge policy, which can deny green cards or visas based on the use of government benefits. “President Trump’s mass deportation plan will end the financial drain posed by illegal immigrants on our healthcare system, and ensure that our country can care for American citizens who rely on Medicaid, Medicare, and Social Security,” Trump spokesperson Karoline Leavitt said in a statement to KFF Health News. During his first term, in 2019, Trump broadened the policy to include the use of Medicaid, as well as housing and nutrition subsidies. The Biden administration rescinded the change in 2021. KFF, a health information nonprofit that includes KFF Health News, found immigrants use less health care than people born in the United States. And about 1 in 4 likely undocumented immigrant adults said they have avoided applying for assistance with health care, food, and housing because of immigration-related fears, according to a 2023 survey . Another uncertainty is the fate of the Affordable Care Act, which was opened in November to immigrants who were brought to the U.S. as children and are protected by the Deferred Action Childhood Arrivals program. If DACA eligibility for the act’s plans, or even the act itself, were to be reversed under Trump, that would leave roughly 40,000 California DACA recipients, and about 100,000 nationwide , without access to subsidized health insurance. On Dec. 9, a federal court in North Dakota issued an order blocking DACA recipients from accessing Affordable Care Act health plans in 19 states that had challenged the Biden administration’s rule. Clinics and community health workers are encouraging people to continue enrolling in health benefits. But amid the push to spread the message, the chilling effects are already apparent up and down the state. “¿Ya tiene Medi-Cal?” community health worker Yanet Martinez said, asking residents whether they had Medi-Cal as she walked down Pico Boulevard recently in a Los Angeles neighborhood with many Salvadorans. “¡Nosotros podemos ayudarle a solicitar Medi-Cal! ¡Todo gratuito!” she shouted, offering help to sign up, free of charge. “Gracias, pero no,” said one young woman, responding with a no thanks. She shrugged her shoulders and averted her eyes under a cap that covered her from the late-morning sun. Since Election Day, Martinez said, people have been more reluctant to hear her pitch for subsidized health insurance or cancer prevention screenings. “They think I’m going to share their information to deport them,” she said. “They don’t want anything to do with it.” This article was produced by KFF Health News , which publishes California Healthline , an editorially independent service of the California Health Care Foundation . ©2024 KFF Health News. Distributed by Tribune Content Agency, LLC.LAS VEGAS -- The Milwaukee Bucks are making a return trip to the NBA Cup semifinals after falling short in Sin City last season. This time around, they'll have the responsibility of stopping one of the game's great entertainers in Trae Young and the Atlanta Hawks. Young rolled a pair of imaginary dice over the New York Knicks' midcourt logo in the closing moments of the Hawks' 108-100 win in the quarterfinals on Tuesday, a nod to the Hawks' trip to Vegas. It was yet another example of Young's showmanship, something the Knicks have seen firsthand over the years. The Bucks also got to experience a bit of Young's big-game prowess in the 2021 Eastern Conference finals, but Young suffered an ankle injury in Game 3 of that series and wasn't the same the rest of the way. If "Ice Trae" has it his way, the Bucks will be the latest victim of his prime-time heroics on Saturday night. Even if he doesn't like to linger on the memories of that series. "I don't let past things make me mad (and I don't) hold a grudge on those things," the 26-year-old Young said. "Yeah, I'm young. I'm not super young anymore, where I like, let those things really affect me. "I remember it like it was yesterday. It definitely hurts, but I mean, this is a new team. I'm part of a new team. They're a different team. So I can't let my past affect my mental and my focus on right now, because it's a totally different team and totally different place." Young is averaging 21 points per game to go along with 12.2 assists, numbers that have only been equaled by Magic Johnson and Isiah Thomas over the course of an entire NBA season. He's gotten a fair bit of help too, most notably in the form of 19.8 points and a team-high 10.1 rebounds per game from fourth-year forward Jalen Johnson. The Hawks earned the No. 3 seed in NBA Cup knockout play after going 3-1 in the East Group C stage. Atlanta's among the hottest teams in the league at the moment, having won seven of its last eight games overall. The Bucks, on the other hand, are the only team of the four remaining that made it to the NBA Cup semifinals in Las Vegas last season. They had a short trip, falling 128-119 to the Pacers, but the hope is that last year's experience better prepared them for all of the outside hoopla that comes with this stage. At the very least, they have a much better understanding of what winning the NBA Cup would entail. "I think last year, most people didn't even understand what was going on until they got to the final stages," Bucks star Damian Lillard said. "When we got to the game against New York last year, where the winner got to go to Vegas, we started to have a better understanding of what was on the line. "Coming into this season, I think everybody understood better. Everybody cared more, not just because it's an opportunity to win money. Even though it's not the ultimate goal, I think it gives you an edge. We want to be the last team standing in it. We want to win the money. We want to continue going in the right direction as a team." The Bucks entered Tuesday's quarterfinal as the East's top seed in NBA Cup play, going 4-0 in East Group B play despite a turbulent 2-8 start to the season. They've won nine of their last 11 games and eclipsed .500 for the season by beating the Brooklyn Nets on Sunday and the Orlando Magic on Tuesday. Giannis Antetokounmpo sits atop the NBA scoring leaders as of Friday afternoon, averaging 32.7 points and a team-high 11.4 rebounds per game. Lillard has also played at an All-Star level, averaging 25.8 points per game in addition to 7.6 assists. Bobby Portis (13.2 ppg) and Brook Lopez (11 ppg) are the only other Bucks averaging double figures. --Will Despart, Field Level Media

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