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Overall, the evolution of NPC companions in video games represents a significant advancement in game design and storytelling. By creating smarter, more engaging companions that are less likely to annoy players with incessant chatter, developers have succeeded in elevating the player experience to new heights. With their enhanced intelligence, dynamic personalities, and improved communication skills, NPC companions have become invaluable allies that enrich the virtual worlds they inhabit. As players continue to embark on epic adventures and form strong bonds with these virtual companions, one thing is certain – the era of annoying NPC companions is officially a thing of the past.One key outcome of the meeting was the confirmation of a policy turning point, signaling a shift towards more supportive measures to boost the economy. This shift is seen as a response to the current economic challenges facing China, including slowing growth, trade tensions, and structural changes in the economy.
Daily Post Nigeria Walk through Benin streets for N50m — APC challenges ex-Governor Obaseki Home News Politics Metro Entertainment Sport Politics Walk through Benin streets for N50m — APC challenges ex-Governor Obaseki Published on November 27, 2024 By Enahoro Iyemefokhai The Edo State chapter of the All Progressives Congress, APC, has promised to reward the immediate past governor of the state, Godwin Obaseki, with N50 million if he could walk freely on the streets of Benin City and receive a rousing welcome from residents. DAILY POST reports that Prince Kassim Afegbua, a chieftain of the party and member of the Edo State Assets Verification Committee, threw the challenge at a press briefing shortly after the inauguration of the committee by Governor Monday Okpebholo at Government House in Benin City. Afegbua, who responded to some allegations and criticism against the barely two-week-old administration of Governor Okpebholo in the state by the state chapter of the Peoples Democratic Party, PDP, opined that the people-oriented policies and steps so far taken by the new government had endeared him to the people. According to him: “The reason for the press briefing, just like the chairman said, is to respond to some insinuations out there. “First, they said that the government of APC, that is barely 14 days old, has shut down the e-governance platform. That is very laughable and very incorrect. What they called e-governance is actually e-corruption. “That is the basic truth because we tried as much as possible to access some of the information that was paraded before this new government, we couldn’t even access them. “Secondly, the opposition is saying that our thugs invaded their secretariat. I think they are just trying to call a dog a bad name in order to hang it. We are too preoccupied, too serious, and too busy trying to pick up Edo State from the ashes of underdevelopment that the previous government plunged it into. “To be looking at the secretariat of an opposition party that was humbled at the last election, beaten flat in their domains by the resounding victory that we got from the Edo people? “The decisions and policy focus of the present government is such that we will not be bogged down by claims [of those] trying to attack us, just to distract us. “Only today they issued another statement complaining about the facts that because we lack what to do, we are setting up an asset verification exercise. “Everyone knows that all over the world, it is good for you to have a status report of a government when you are taking off. The practice is not just for Edo State or Nigeria alone; it is everywhere. “And, because the previous government was short in terms of facts and figures that dominated its own governance process, we have a duty to, as APC, in line with the Renewed Hope Agenda of the Federal Government to begin to interrogate certain gaps as already captured by the chairman of this Assets Verification Committee. “So, we want to tell Edo people that as few days as the new government has taken off, the projects we have embarked on as a government and as a party, and the steps we have taken so far have endeared us to the hearts of Edo people. “If the opposition is truly serious, they should please invite ex-Governor Godwin Obaseki to come to Edo for a street walk. We are ready to pay him N50 million for that particular exercise and let us see who the Edo people will embrace,” he said. Afegbua alleged that the immediate past governor has hired some persons across the state to attack and cast aspersions on APC and its government in the state. He, however, said that would not distract the government and the party from keeping their eyes on the ball and providing credible projects that would help address the challenges that the state currently faces. Related Topics: APC Benin Obaseki Don't Miss Stop endorsing, passing vote of confidence on Ganduje – APC Chieftain warns legislators You may like Stop endorsing, passing vote of confidence on Ganduje – APC Chieftain warns legislators Gov Okpebholo inspects schools, mocks ex-Gov Obaseki’s EdoBest program Commissioning of Stella Obasanjo Hospital a scam – Okpebholo knocks Obaseki Gov Okpebholo squandered over N30bn left by Obaseki in 14 days – PDP alleges I accepted half of my salary with Super Eagles to coach Benin – Rohr Gov Okpebholo’s Asset verification committee will not witch hunt Obaseki — Umakhihe Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media LtdKai Trump shows Elon Musk awkwardly tutoring Trump in rocket scienceOportun Financial Co. ( NASDAQ:OPRT – Get Free Report ) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 108,700 shares, an increase of 28.9% from the November 30th total of 84,300 shares. Based on an average daily volume of 153,200 shares, the days-to-cover ratio is presently 0.7 days. Wall Street Analysts Forecast Growth Separately, Singular Research upgraded Oportun Financial to a “strong-buy” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.50. Read Our Latest Analysis on OPRT Oportun Financial Stock Down 4.2 % Insider Transactions at Oportun Financial In other news, insider Patrick Kirscht sold 8,403 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $3.80, for a total value of $31,931.40. Following the transaction, the insider now owns 333,360 shares in the company, valued at approximately $1,266,768. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link . Also, Director Mohit Daswani purchased 7,420 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $3.90 per share, for a total transaction of $28,938.00. Following the acquisition, the director now owns 41,924 shares of the company’s stock, valued at approximately $163,503.60. The trade was a 21.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here . Insiders have purchased a total of 41,264 shares of company stock valued at $159,826 in the last ninety days. 9.30% of the stock is currently owned by corporate insiders. Institutional Investors Weigh In On Oportun Financial A number of large investors have recently added to or reduced their stakes in OPRT. Empowered Funds LLC boosted its stake in shares of Oportun Financial by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 110,620 shares of the company’s stock worth $311,000 after buying an additional 5,628 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Oportun Financial by 4.9% in the third quarter. Geode Capital Management LLC now owns 311,450 shares of the company’s stock valued at $875,000 after acquiring an additional 14,683 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of Oportun Financial by 28.6% during the 2nd quarter. SkyView Investment Advisors LLC now owns 67,500 shares of the company’s stock valued at $196,000 after purchasing an additional 15,000 shares during the period. Flaharty Asset Management LLC increased its position in shares of Oportun Financial by 75.0% during the 2nd quarter. Flaharty Asset Management LLC now owns 35,000 shares of the company’s stock valued at $102,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Oportun Financial in the 3rd quarter worth approximately $52,000. Institutional investors own 82.70% of the company’s stock. About Oportun Financial ( Get Free Report ) Oportun Financial Corporation provides financial services. The company offers personal loans and credit cards. It serves customers through online and over the phone, as well as through retail and Lending as a Service partner locations. The company was founded in 2005 and is headquartered in San Carlos, California. See Also Receive News & Ratings for Oportun Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oportun Financial and related companies with MarketBeat.com's FREE daily email newsletter .
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SEC THIS WEEKEnzo Maresca ‘thankful’ for connection at Leicester ahead of return with ChelseaIn a press statement released shortly after the incident, Alibaba expressed deep regret over the fire and extended their gratitude to the emergency responders and staff members who helped manage the crisis. The company reassured customers and stakeholders that all necessary measures were being taken to minimize the impact of the fire on their services and to restore operations as quickly as possible. Alibaba also pledged to conduct a thorough investigation into the cause of the fire and to implement any necessary safety improvements to prevent such incidents in the future.
The battle for control of Bamburi Cement has reached fever pitch, with shareholders racing against time to cast their votes by December 5. At stake is the future of Kenya's leading cement maker, as two formidable bidders vie for supremacy. In one corner is Savanna Clinker, a Kenyan powerhouse led by Benson Sande Ndeta, upping their offer from Sh70 per share in August to Sh76.55 —totaling Sh27.8 billion. In the other is Tanzania’s Amsons Group, headed by CEO Edha Nahdi, equally determined to clinch the deal. Bamburi Cement is expected to reveal the most popular offer by December 20, paving the way for share transfers. Payments to shareholders are slated for February 28, 2025, barring any changes from the Capital Markets Authority (CMA). Under market regulations, bidders retain the right to adjust their offers up to 10 days before the deadline, keeping tensions high as the clock ticks down. According to Ndeta, the offer comes from a patriotic Kenyan who has the best interests of Kenyan companies at heart. He is relying on the backing of Faida Investment Bank which in a statement said that they have sufficient resources to satisfy the maximum amount of cash payable under the offer. “We further confirm that the competing offer will not fail due to insufficient financial capacity of the competing offeror and that every Bamburi shareholder that opts to accept the competing offer shall be paid in full,” said its Managing Director Lucas Otieno in an October 18, 2024, letter to CMA. In the statement, the bank said that they had received a letter from the Global Infrastructure Finance and Development Authority (GIFDA) attesting its commitment to finance the competing offeror’s acquisition of Bamburi cement. “GIFDA, the financier, had made sufficient funding arrangements and has confirmed that the funds are free and unencumbered and are available to Savannah Clinker Limited,” read the statement. “Additionally, Faida has received a statement showing the assets held by GIFDA in Fidelity Investments.” Amsons bid is backed by the Kenya Commercial Bank (KCB) and they have offered to pay Sh65 per share or Sh23.59 billion for a 100 per cent stake in Bamburi through its Kenyan subsidiary and investment vehicle, Amsons Industries (K) Ltd. “According to the offeror’s statement, KCB Investment Bank Ltd, being the transaction advisor and sponsoring stockbroker of Amsons has confirmed that Amsons has sufficient financial resources at its disposal to satisfy the consideration for all shares in Bamburi pursuant to a full acceptance of the offer,” said Bamburi after the Amsons offer. Stay informed. Subscribe to our newsletter Amsons bid recently got regulatory approval from Common Market for Eastern and Southern Africa’s (Comesa) Competition Commission. “The approval is a significant boost to our offer as we continue to engage investors of Bamburi Cement and remain confident that our acquisition bid will be successful as it presents a win-win scenario for the investors and our two countries,” said CEO Nahdi. CMA has already given the green light to shareholders to consider and pick the deal that serves their interests between the two. Asked why they never upped their offer, Ahmed Abdallah from Amsons said that the Sh65 was made after consideration of Bamburi’s market value. “We continue to be very confident that our legitimate offer, which represents a 42 per cent premium on the closing market price of Bamburi Shares at 45.65 KSHs per share, is the best and most competitive offer for Bamburi shareholders.” They promised to pump in Sh51.8 billion to modernise the company’s grinding and clinker plants to ensure its continued growth. Amsons remains confident that shareholders will choose them despite their offer per share being more than Sh11 lower than Savanna’s. On their website, Amsons Group says that since 2000 they have established themselves as a leader in Tanzania, with diversified investments across key sectors including construction, transportation, cement, flour and inland container depots. “We proudly employ over 10,000 Tanzanians, reflecting our dedication to fostering local talent and economic growth.” They also have interests in the oil and gas sector with an over 215 million litres capacity depot. “Our ongoing commitment is to create sustainable employment opportunities and contribute significantly to the nation’s progress.” The company has an annual turnover of Sh130 billion. In the cement world, they run a 6,000-tonne-per-day facility and they recently acquired one of their competitors Mbeya Cement. They also have companies in Malawi, Mozambique, DRC, Zambia and Burundi. In June, Bamburi’s major shareholder Holcim agreed to sell their shares to Amsons but revoked it on October 2 after Savanna’s offer. This came as good news to Savanna as this agreement had locked them out of the race since one needs the backing of at least 60 per cent of total shares to complete the sale. Holcim owns 58.6 per cent of Bamburi through Fincem Holding Ltd (29.3 per cent) and Kencem Holding Ltd (29.3 per cent), which opens the door for them to sell to Savanna. The two are registered in Jersey Island and also share the same address. The remaining is owned by Standard Chartered nominees (15.68 per cent, 0.72 per cent and 2.80 per cent), Aksaya Investment Holdings (11.12 per cent) and SIB (1.11 per cent). Kestrel Capital nominees (0.85 per cent and 0.34 per cent) and APA Insurance Limited (0.29 per cent) while other 4,599 shareholders own 8.48 per cent. Bamburi Cement Ltd Trucks collects cement from a Silo, a storage facility in Industrial area, Nairobi. [Stafford Ondego, Standard] Before the Bamburi offer, Ndeta last year secured Sh65 billion for the construction of a clinker factory in Kitui County Betting on the construction boom that is in the country, Ndeta said that he raised the money through a privately placed debt arrangement and the bond to be regulated at the international exchange. He told the media at the time that he was proud of getting funding from people he said shared his vision and beliefs to deliver growth and development in the construction sector. Ndeta joined billionaire Narendra Raval as a major player seeking to pocket some Sh6.3 billion that factories without grinders pay to import clinker, which is crucial in the manufacturing of cement. Interestingly, Savanna Cement which went under in more than Sh18 billion debt does not have a clinker factory and Ndeta once served as its chairperson. For a man who loves golf which is considered a slow sport and law tennis which is quite a fast-paced game, Ndeta has been in the cement sector for more than 20 years. He started as the Chairman of the now struggling East African Portland Cement Limited in June 2003 when he was appointed by the then Trade Minister Mukhisa Kituyi, serving until June 2008. Ndeta was the majority shareholder of Savanna Cement Limited until November 18, 2022, when his shares were taken over by the banks. The company went into administration on July 21, 2023, under PKF Consulting Kenya partner Peter Kahi after making a net loss of Sh2.5 billion in 2022 and Sh1.07 billion in 2020. By the time it went under, Savanna Cement had made a cumulative loss of Sh7.86 billion. In August 2024, the sale of its assets which were valued at Sh10.9 billion in October 2022, commenced to help compensate some of its creditors. KCB Bank is owed Sh8.89 billion, while Absa Bank is owed Sh5.23 billion. Ndeta said that he has no intentions of delisting Bamburi from the Nairobi Stock Exchange (NSE). On the other hand, Amsons say that if they acquire at least 75 per cent but fewer than 90 per cent of Bamburi shares they may take steps to delist its shares from NSE, subject to corporate and regulatory approvals.
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The dwindling advantage of Barcelona serves as a stark reminder of the unpredictable nature of football and the importance of consistency in a grueling campaign. Every match, every point earned or dropped, has the potential to reshape the outcome of the season. As the pressure mounts and the stakes grow higher, Barcelona must dig deep and rediscover their winning ways if they are to fend off the challenges from their rivals and emerge victorious come the end of the season.
Enzo Maresca ‘thankful’ for connection at Leicester ahead of return with Chelsea
49% Year-to-Date Revenue Growth and 71% Adjusted Gross Margin Drive OAM's Path to Profitability TORONTO , Nov. 27, 2024 /CNW/ - OverActive Media Corp. ("OverActive" or the "Company") OAM OAMCF , a global esports, and entertainment company for today's generation of fans , released its third-quarter results for the three and nine-month periods ended September 30, 2024 . Note to reader: A significant portion of the Company's revenue is derived from "League Revenues," which have historically varied in the quarter they were received, making period-over-period comparisons less meaningful. To address this, the Company has adopted a straight-line revenue recognition model, distributing revenue evenly over 12 months. This approach ensures more consistent quarter-to-quarter comparisons. The normalized financials in this press release reflect this change, providing clearer insights into the Company's performance. All amounts are presented in Canadian dollars ($). Below is a summary of the financial results for the three and nine months ended September 30, 2024 , compared to the three and nine months ended September 30, 2023 : $CAD (000's) Three months ended September 30, 2024 Three months ended September 31, 2023 Variance (%) Three months ended September 30, 2023 (Normalized) Variance (%) Normalized Nine months ended September 30, 2024 Nine months ended September 30, 2023 Variance (%) Nine months ended September 30, 2023 (Normalized) Variance (%) Normalized Revenue $6,881 $6,015 14 % $3,998 72 % $17,156 $11,492 49 % $10,819 59 % Adjusted Gross Profit i $5,071 $4,837 5 % $2,820 80 % $12,194 $7,717 58 % $7,044 73 % Adjusted Gross Margin i 74 % 80 % -8 % 71 % 4 % 71 % 67 % 6 % 65 % 9 % Operating Expenses $7,609 $5,374 42 % $5,374 42 % $22,416 $17,259 30 % $17,259 30 % Adjusted EBITDA i $4 $777 -99 % ($1,240) 100 % ($3,048) ($5,508) 45 % ($6,181) 51 % Net Income (Loss) ($1,790) ($1,993) 10 % ($4,010) 55 % $239 ($11,170) 102 % ($11,843) 102 % Net Working Capital $9,423 ($4,260) 321 % ($4,260) 321 % $9,423 ($4,260) 321 % ($4,260) 321 % Cash & Equivalents $8,861 $9,695 -9 % $9,695 -9 % $8,861 $9,695 -9 % $9,695 -9 % i Adjusted EBITDA and Adjusted Gross Margin/Profit are non-IFRS measures. Refer to "Non-IFRS Measures" at the end of this press release. "Our third-quarter results demonstrate OverActive Media's disciplined execution and growth. With year-to-date revenue up 49% to $17.1 million and positive net income of $239,000 , we are making significant progress," said Adam Adamou , CEO of OverActive Media. "This growth is driven by strategic changes, including renegotiated league agreements, increased digital revenue, and contributions from our KOI and Riders acquisitions, as well as our entry into the VALORANT EMEA ecosystem. We delivered positive Adjusted EBITDA this quarter and significantly reduced year-to-date Adjusted EBITDA losses by 45%, illustrating our strong path forward." Mr. Adamou continued, "Restructuring agreements with Activision earlier this year eliminated over $35 million in liabilities, strengthening our net working capital to $9.4 million . Additionally, post-quarter, we finalized a new Riot Games agreement that eliminated the remaining $2 million franchise fee for our LEC team, securing full ownership of our franchises without future obligations. These restructured agreements have enabled us to generate high-margin revenue streams, especially in digital merchandise and microtransactions. Mr. Adamou concluded, "Today, we are operating from a position of financial strength — debt-free, globally diversified, and supported by partnerships with iconic brands like Pepsi, AMD, Telefónica, and Bell. With a clear strategy, strong margins, and transformative agreements in place, we are focused on expanding our opportunities and driving sustainable, profitable growth in the near future." Q3 2024 Financial Highlights Revenue for the three months ended September 30, 2024 totaled $6.8 million , reflecting a 14% increase compared to $6.0 million in the same period of 2023. On a normalized basis—accounting for changes in revenue recognition—revenue increased by $2.8 million , or 72%. This growth was driven by several strategic initiatives, including the acquisition of Riders and KOI assets in the first quarter and our entry into the VALORANT EMEA ecosystem in February. Additionally, stronger performance across both our Team Operations and Business Operations segments, particularly from digital merchandise (MTX) sales, contributed significantly to this revenue expansion. Operating Costs for the three months ended September 30, 2024 totaled $7.6 million , compared to $5.4 million for the same period in 2023, reflecting a 42% increase. This rise in costs is primarily attributed to higher payroll expenses across both corporate and team operations, driven by the integration of the recently acquired Riders and the KOI assets. Additionally, one-time restructuring costs incurred as part of our strategic efforts to streamline operations and improve efficiency have also contributed to this increase. Adjusted Gross Profit i for the quarter (defined as revenue less direct costs) remained strong at $5.1 million , resulting in an Adjusted Gross Margin i of 74%, compared to $4.8 million and 80% for the same period in 2023. On a normalized basis, Adjusted Gross Profit improved from $2.8 million to $5.1 million for the quarter and Adjusted Gross Margin improved from 71% to 74%. The stability in Adjusted Gross Profit, despite the increase in operating costs, highlights the effectiveness of our revenue growth initiatives, particularly from digital merchandise sales and contributions from our expanded portfolio. These results underscore the scalability of our business model as we continue to execute on strategic opportunities to drive long-term profitability. Adjusted EBITDA i for the three months ended September 30, 2024 was essentially break-even, compared to an Adjusted EBITDA gain of $777,000 in the same period in 2023. This year-over-year decline is primarily due to changes in the timing of revenue recognition for certain league earnings and in-game microtransactions (MTX). On a normalized basis, Adjusted EBITDA showed a significant improvement, moving from a loss of $1.2 million in Q3 2023 to a gain of $4,000 in Q3 2024. This improvement was driven by increased revenues from strategic acquisitions, and successful team performances in key tournaments. Net Loss for the three months ended September 30, 2024 was $1.8 million , representing a 10% improvement compared to a Net Loss of $2.0 million in the same period in 2023. This improvement was driven by strong revenue growth and disciplined cost management, even as the Company absorbed additional expenses related to acquisitions and integration. Net Working Capital (current assets less current liabilities) as of September 30, 2024 improved dramatically to $9.4 million , compared to negative working capital of $4.3 million in the same period in 2023 — a positive shift of $13.7 million . This significant change is primarily the result of the acquired businesses and the restructuring of our league partnerships, which resulted in the elimination of substantial league payables. Cash and Cash Equivalents as of September 30, 2024 totaled $8.9 million , compared to $9.7 million at the same time in 2023. This modest decrease reflects careful asset management, with planned investments directed toward operating activities and acquisition integration costs. The Company's approach underscores a commitment to balancing strategic growth with operational efficiency while maintaining a strong liquidity position. Nine Months 2024 Financial Highlights For the nine months ended September 30, 2024 Revenue totaled $17.2 million , a 49% increase compared to $11.5 million during the same period in 2023. After normalizing for changes in revenue recognition, Revenue grew by $6.3 million or 59%. This growth was driven by strategic acquisitions of Riders and KOI, stronger performance across Team Operations and Business Operations segments, and contributions from our marketing and influencer activities. Operating Costs for the nine months ended September 30, 2024 were $22.4 million , a 30% increase compared to $17.3 million in the same period in 2023. This increase reflects higher payroll expenses, costs associated with integrating acquired businesses, and one-time restructuring expenses. These costs align with the Company's strategic focus on streamlining operations and positioning for sustainable growth. Adjusted Gross Profit for the period stood at $12.2 million , with an Adjusted Gross Margin of 71%, compared to $7.7 million and 67% for the same period in 2023. On a normalized basis, year-to-date Adjusted Gross Profit significantly improved from $7.0 million to $12.2 million and Adjusted Gross Margin improved from 65% to 71%. The growth in Adjusted Gross Profit underscores the scalability of our revenue model, particularly from digital merchandise and expanded team contributions. Adjusted EBITDA loss for the nine months ended September 30, 2024 was $3.0 million , a 45% improvement from the $5.5 million loss reported for the same period in 2023. This improvement reflects robust revenue growth from acquisitions and changes in revenue recognition, offset by integration and restructuring costs. Net Income for the nine months ended September 30, 2024 was a gain of $239,000 , compared to a Net Loss of $11.2 million in the same period in 2023. The shift to profitability was driven by strong revenue performance, disciplined cost management, and a gain from the termination of the Call of Duty League franchise obligation. Selected Q3 2024 Achievements OverActive Media's teams, competing as Toronto Ultra at the 2024 Esports World Cup (EWC) in Saudi Arabia , delivered a strong international performance, earning valuable Club Championship Points in Overwatch 2, Teamfight Tactics, and Call of Duty to secure an 11th place global finish. This achievement underscores OverActive Media's growing influence in the global esports ecosystem and highlights its role as an Official Esports World Cup Partner. OverActive Media secured new high-profile partnerships with global brands, including Pepsi, and renewed previous announced partnerships with AMD, SCUF and Bell. These partnerships continue to enhance the Company's market presence and brand portfolio, particularly in the esports and gaming sectors. Toronto Ultra finished in third place at the CDL World Championships in Texas , capping off a successful year that included winning Major 1 in the first quarter and leading all CDL teams in team branded digital merchandise sales globally. Significant Announcements Subsequent to Quarter End OverActive Media's esports team, Movistar KOI, partnered with Ecoembes, a leader in circular economy and packaging recycling, to drive sustainability within the esports community. This strategic sponsorship positions Movistar KOI as an advocate for environmental responsibility in European esports, focusing on recycling awareness, packaging recovery, and carbon neutrality. The partnership also includes Movistar KOI's commitment to the United Nations Sports for Climate Action Framework, reinforcing OverActive Media's dedication to sustainable growth. OverActive Media's League of Legends team MAD Lions KOI qualified for the World Championship tournament for the sixth consecutive time, drawing peak viewership of almost 2.5M concurrent viewers. OverActive Media has secured a new long-term partnership with Riot Games for the League of Legends EMEA Championship (LEC), reinforcing its presence in one of the world's premier esports leagues. The agreement eliminates all future franchise obligations from OAM's balance sheet, significantly improving future cash flows and ensuring full ownership of its franchises with no remaining liabilities. This milestone positions the company for enhanced revenue opportunities and long-term growth in the global esports ecosystem. The Company's consolidated unaudited financial statements, notes to financial statements, and Management's Discussion and Analysis for the three and nine-month periods ended September 31, 2024 , are available on the Company's website at www.overactivemedia.com and under the Company's profile on SEDAR at www.sedarplus.ca . Conference Call The Company will conduct a conference call on Thursday, November 28, 2024 , at 9:00 a.m. (Eastern Time) to review the third-quarter results, as well as provide an overview of the Company's recent milestones and growth strategy. To access the conference call without operator assistance, please register and enter your phone number at https://emportal.ink/3O6qT40 to receive an instant automated callback. To dial directly to be entered into the call by an operator, please dial 1-888-699-1199 or, for international callers, 416-945-7677 . A replay will be available shortly after the call and can be accessed by dialing 1-888-660-6345 or, for international callers, 289-819-1450 . The entry code for the replay is 27822# . The replay will expire on Thursday, December 5, 2024 . A live conference call webcast can be accessed on OverActive's website at https://app.webinar.net/ZXxR8X7pPLM . An online webcast archive will be available via the same link for three months following the call. ABOUT OVERACTIVE MEDIA OverActive Media Corp. OAM OAMCF is headquartered in Toronto, Ontario , with operations in Madrid, Spain and Berlin, Germany , is a premier global esports and entertainment company for today's generation of fan. OverActive owns team franchises in professional esports leagues, including the Call of Duty League, operating as the Toronto Ultra, the League of Legends EMEA Championship (LEC), operating as MAD Lions KOI, the VALORANT Champions League (VCT) EMEA, operating as Movistar KOI and other professional esports leagues and competitions. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of OverActive with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding the anticipated financial and operating results of OverActive in the future. Investors are cautioned that forward-looking statements are not based on historical facts but instead OverActive management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although OverActive believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the OverActive. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: the potential impact of OverActive's qualifying transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; the ability of the Company to continue to execute on its existing partnerships and business strategy; the ability of the MAD Lions and Call of Duty Leagues to maintain viewership; the successful completion of the Company's new venue; and other risk factors set out in OverActive's most recent annual information form and its other filings with Canadian securities regulators, copies of which may be found under OverActive's profile at www.sedarplus.ca . These forward-looking statements may be affected by risks and uncertainties in the business of OverActive and general market conditions, 9. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although OverActive has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. OverActive does not intend and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law. NON-IFRS MEASURES This press release includes references to Adjusted EBITDA, Adjusted Gross Profit and Adjusted Gross Margin. These non-IFRS financial measures are not earnings or cash flow measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Our method of calculating these financial measures may differ from the methods used by other issuers and, accordingly, our definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers. Investors are cautioned that non-IFRS financial measures should not be construed as an alternative to net income determined in accordance with IFRS as indicators of our performance or to cash flows from operating activities as measures of liquidity and cash flows. Adjusted EBITDA is defined by the Company net income or loss before income taxes, finance costs, finance income, depreciation and amortization, decrease in net present value of franchise obligations, foreign exchange gains / loss, assistance payments from Franchise League and government assistance, restructuring and business development costs, impairment charges, and share-based compensation. We believe that Adjusted EBITDA is a useful measure of financial performance because it provides an indication of the Company's ability to capitalize on growth opportunities in a cost-effective manner, finance its ongoing operations and service its financial obligations. A reconciliation of Adjusted EBITDA to net income/loss may be found in the Company's Management's Discussion and Analysis for the three and nine-month periods ended September 30, 2024 . Adjusted Gross Profit is defined by the Company as revenue less the direct operating costs incurred by the Company in generating revenue. Direct operating costs include merchandise, sponsorship and agency expenses, live event expenses and the portion of team prize money revenue paid to team members but do not include other team operation expenses or other indirect operating costs. Adjusted Gross Profit Margin is the percentage that Adjusted Gross Profit represents of total revenue. We believe that Adjusted Gross Profit and Adjusted Gross Profit Margin are important measures of financial performance because they focus on the profitability of our core revenue-generating activities by excluding indirect operating costs. These metrics provide investors with a clearer view of the Company's ability to deliver value to fans, sponsors, advertisers, and league partners, while maintaining sustainable margins in our primary operations. This distinction helps investors evaluate the underlying performance and efficiency of our revenue streams before considering broader expenses. A reconciliation of revenue to Adjusted Gross Profit and Adjusted Gross Profit Margin for the periods indicated is as follows: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ Revenue for the period 6,881 6,015 17,156 11,492 Normalized revenue for the period 6,881 3,998 17,156 10,819 Less: Merchandise, sponsorship and agency expenses (1) 625 126 1,542 595 Live event expenses 510 888 2,157 1,999 Team prize money expense (2) 674 163 1,263 1,181 Total Direct Costs 1,810 1.178 4,962 3,775 Adjusted Gross Profit 5,071 4,837 12,194 7,717 Normalized Adjusted Gross Profit 5,071 2,820 12,194 7,044 Adjusted Gross Profit Margin 74 % 80 % 71 % 67 % Normalized Adjusted Gross Profit Margin 74 % 71 % 71 % 65 % Notes: (1) These are selling, general and administrative operating costs that the Company treats as direct costs. (2) Represents the portion of team operations constituting prize money the portion of team prize money revenue paid to team members. The following tables presents a reconciliation of net loss to adjusted EBITDA for the three and nine months ended September 30, 2024 and 2023: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 $ $ $ $ Net income (loss) for the period (1,790) (1,993) 239 (11,170) Income tax expense (recovery) 176 152 (334) 148 Depreciation 546 435 1,688 1,313 Amortization 318 51 744 159 Decrease in net present value of franchise obligations - - (9,838) - Finance income (64) (44) (222) (182) Finance costs 150 1,332 1,603 3,843 Foreign exchange (gain) loss (70) 610 903 119 Share-based compensation 254 122 368 (55) Restructuring and development costs 484 112 1,801 317 Adjusted EBITDA 4 777 (3,048) (5,508) Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. SOURCE Overactive Media Corp. View original content: http://www.newswire.ca/en/releases/archive/November2024/27/c7616.html © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.As ski resorts across the Pacific Northwest begin to open, anticipation is growing for what experts predict could be an unforgettable season. The National Oceanic and Atmospheric Administration (NOAA) predicts a 60% chance of La Niña conditions, leading skiers and snowboarders to gear up for a winter filled with fresh powder, stunning views, and epic runs. In the 2023-2024 season, the National Ski Areas Association reported that 60.4 million people hit the slopes nationwide, but only 16.5 million chose the Pacific Northwest. However, that number may rise this season as renowned resorts like Mount Baker, Crystal Mountain, and Stevens Pass prepare for what could be one of their snowiest winters. Here’s what you need to know to take full advantage of this potentially record-breaking ski season in the PNW. Why the Pacific Northwest Is Unique I’ve skied at more than 20 resorts across the United States, from the East Coast to the West Coast. I can attest that skiing in the Pacific Northwest offers an entirely different experience, primarily due to heavy snowfall and the Pacific Northwest’s distinct type of snow. According to AccuWeather’s Senior Meteorologist Brian Wimer , “Ski resorts on the West Coast, such as in Washington, Oregon, and California, have much more moisture available in comparison to interior Western states like Utah and Colorado.” Coastal states experience more frequent snowstorms than ski areas in other parts of the United States. For example, Mount Baker in Washington is famous for being the world’s snowiest ski resort , largely due to its prime location close to the coast. Another result of the Pacific Northwest’s location is the snow’s water content, which influences its texture. Areas closer to the ocean tend to have snow with higher water content, while this decreases as you move inland. As water content lowers, snow becomes drier and more powdery, much like the conditions found in the Rockies. While you’ll enjoy plenty of powder days in the Pacific Northwest, the snow won’t feel quite the same as Colorado’s. You can still carve through fresh snow, but it tends to be heavier and wetter, making many PNW skiers opt for thicker skis. The Best Time To Ski in the PNW One of the great things about the Pacific Northwest is how long the winter season lasts. From November to May, there’s plenty of time to enjoy the slopes. As someone who loves skiing here, I can confidently say there’s no wrong time to visit. However, I recommend coming between January and April, as the mountains receive the most snowfall during this period. The base layers have time to build up, ensuring most runs are open and ready for action. My favorite time to ski in the Pacific Northwest is early spring. While many skiers and snowboarders race to get the first tracks after a fresh snowstorm or overnight grooming, spring skiing in the PNW offers a special experience. The best time to enjoy spring skiing is in the afternoon, so most people don’t hit the slopes until lunchtime. You still get the occasional snowstorm, but the warmer temperatures make it unique. There’s something about skiing in lighter layers, with many opting for just a t-shirt, that makes it feel like a whole new adventure. La Niña Set to Benefit Top Destinations Experts at the NOAA expect above-average precipitation across Washington, Oregon, and Idaho in early winter, leading to favorable snow conditions at their ski resorts. The Pacific Northwest offers various ski resorts , from charming local mountains to world-famous destinations. With La Niña’s predicted snowfall this winter, several spots are worth considering for your trip. My personal favorite in Oregon is Mount Bachelor. Over in Washington, you can’t go wrong with Summit at Snoqualmie, Mission Ridge, or Crystal Mountain. And while Idaho might not always be the first place you think of for skiing, the state has some incredible resorts, including Schweitzer and Sun Valley. Unlock Your Ski Season’s Full Potential To fully enjoy this ski season, I highly recommend planning ahead and booking your trip to one of the top resorts in Washington, Oregon, or Idaho. In addition, keeping up with weather apps and following resort social media accounts is essential for tracking snowstorms and staying informed. While chasing storms may not be feasible for everyone, it remains one of the best ways to guarantee optimal conditions. If you’re anticipating a significant storm and can take time off, seizing that opportunity to hit the slopes could make for an unforgettable ski experience. The Pacific Northwest offers something extraordinary with its heavy snowfall, breathtaking views, and diverse range of resorts. While many skiers and snowboarders anxiously monitor weather forecasts and resort updates, planning early is always smart. By booking your lift tickets, flights, and accommodations at the start of the season, you’ll avoid price hikes and set yourself up for an incredible winter adventure in the Pacific Northwest. This article was produced by Media Decision and syndicated by Wealth of Geeks .
