Revenue of $12.0M, the Highest Quarterly Revenue for Zoom Telephonics (OTCQB: ZMTP) to DateBoston, MA, Nov. 12, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Zoom Telephonics, Inc. (“Zoom”) (OTCQB: ZMTP), the creator of leading cable modems and other Internet access products under the exclusively licensed Motorola® brand, reported financial results for its 2020 third quarter ended September 30, 2020. * Net revenue of $12.0M, the highest quarterly revenue for ZMTP to date, representing an 11% increase compared to the same quarter in 2019, and a 17% increase sequentially from Q2 2020. * GAAP Operating Loss of ($332k), or -2.8% of net revenue, representing a ($94k) difference compared to the same quarter in 2019, but a $1.2M improvement sequentially from Q2 2020. * Earnings per share of $(0.01), flat in the third quarter of 2019, but represents a 86% improvement sequentially from Q2 2020.“We are very pleased with this quarter’s results and believe that we are now on a clear path to achieving scale and profitability,” said Jackie Barry Hamilton, CFO of Zoom. “Our balance sheet and cash position are strong; benefiting from a recent PIPE, and we have maintained our working capital levels despite challenges associated with the pandemic.”Business Outlook“Our research shows Zoom is holding its position as one of the top three leaders in modems, gateways, and MoCA devices by retail market share,” said Jeremy Hitchcock, Executive Chairman of Zoom’s Board of Directors. “We are seeing strong market tailwinds in home connectivity, underscored in a 45% increase in retailer inventory demand from this time last year. Our inventory position is actively being rebuilt as manufacturing capacity ramps in Vietnam to meet increased customer demand, without tariffs.”Separately, Zoom today announced that it had reached a definitive agreement to merge with Minim Inc., a private AI-driven WiFi management and security platform.Conference Call Details Date/Time:Join us on November 13th, 10:00 a.m. ET. Participant Dial-In Numbers: (United States): (877) 706-2128 (International): (706) 643-5255.Please dial-in five minutes prior to the start time of the call and provide the operator with the conference ID of 4558846A slide presentation will accompany management’s remarks and will be accessible five minutes prior to the start of the call via the following link: www.zoom.net/SQ320. A recording of the call will also be made available afterwards through the investor information section of the company’s website.About Zoom Telephonics Zoom Telephonics, Inc. (“Zoom”) (OTCQB: ZMTP) is the creator of innovative Internet access products that dependably connect people to the information they need and the people they love. Founded in 1977 in Boston, MA, the company now delivers cable modems, routers, and other communications products under the globally recognized Motorola brand. For more information about Zoom and its products, please visit www.zoom.net and www.motorolanetwork.com.MOTOROLA and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC and are used under license.Forward Looking Statements This release contains forward-looking information relating to Zoom’s plans, expectations, and intentions. Actual results may be materially different from expectations as a result of known and unknown risks, including: the potential increase in tariffs on the Company’s imports; potential difficulties and supply interruptions from moving the manufacturing of most of the Company’s products to Vietnam; potential changes in NAFTA; the potential need for additional funding which Zoom may be unable to obtain; declining demand for certain of Zoom’s products; delays, unanticipated costs, interruptions or other uncertainties associated with Zoom’s production and shipping; Zoom’s reliance on several key outsourcing partners; uncertainty of key customers’ plans and orders; risks relating to product certifications; Zoom’s dependence on key employees; uncertainty of new product development, including certification and overall project delays, budget overruns, and the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; costs and senior management distractions due to patent related matters; and other risks set forth in Zoom’s filings with the Securities and Exchange Commission. Zoom cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Zoom expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Zoom’s expectations or any change in events, conditions or circumstance on which any such statement is based.Investor Relations Contact: Jacquelyn Barry Hamilton, CFO Zoom Telephonics, Inc. Phone: 617-753-0040 Email: Investor@zoom.netZOOM TELEPHONICS, INC. Condensed Consolidated Balance SheetsASSETS September 30, 2020 (Unaudited) December 31, 2019 Current assets Cash and cash equivalents $4,013,690 $1,216,893 Restricted cash 800,000 150,000 Accounts receivable, net 6,577,447 4,070,576 Inventories, net 9,693,326 7,440,350 Prepaid expenses and other current assets 128,847 269,738 Total current assets 21,213,310 13,147,557 Other assets 914,884 349,335 Operating lease right-of-use assets, net 107,343 102,716 Equipment, net 460,534 303,099 Total assets $22,696,071 $13,902,707 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $10,513,620 $5,024,529 Current maturities of long-term debt 354,968 –– Current maturities of operating lease liabilities 72,739 102,716 Accrued expenses 4,015,666 2,666,471 Total current liabilities $ 14,956,993 $ 7,793,716 Long-term debt, less current maturities 228,332 –– Operating lease liabilities, less current maturities 34,738 –– Total liabilities $15,220,063 $7,793,716 Stockholders’ equity Common stock: Authorized: 40,000,000 shares at $0.01 par value Issued and outstanding: 23,921,142 shares at September 30, 2020 and 20,929,928 shares at December 31, 2019 Additional paid in capital 239,211 209,299 Accumulated deficit 50,454,720 46,496,330 Total stockholders’ equity (43,217,923) (40,596,638) Total liabilities and stockholders’ equity 7,476,008 6,108,991 $22,696,071 $13,902,707 ZOOM TELEPHONICS, INC. Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net sales $12,027,457 $10,874,149 $34,255,817 $27,042,961 Cost of goods sold 8,150,901 7,746,821 25,160,174 18,728,928 Gross profit 3,876,556 3,127,328 9,095,643 8,314,033 Operating expenses: Selling 2,012,314 2,067,728 6,650,047 7,068,841 General and administrative 1,468,187 733,486 3,012,292 1,858,043 Research and development 728,258 563,881 2,025,502 1,484,160 Total operating expenses 4,208,759 3,365,095 11,687,841 10,411,044 Operating loss (332,203) (237,767) (2,592,198) (2,097,011) Other income (expense): Interest income 272 5,626 1,064 9,627 Interest expense (5,420) –– (13,852) (48,405) Other, net (1,150) 36,156 (707) 34,251 Total other income (expense) (6,298) 41,782 (13,495) (4,527) Loss before income taxes (338,501) (195,985) (2,605,693) (2,101,538) Income taxes 2,920 3,641 15,592 24,319 Net loss $(341,421) $(199,626) $(2,621,285) $(2,125,857) Net loss per share: Basic and diluted $(0.01) $(0.01) $(0.12) $(0.11) Basic and diluted weighted average common and common equivalent shares 23,887,718 20,832,174 22,419,823 18,696,083
What is the Delta variant of coronavirus with K417N mutation?
India said on Wednesday it has found around 40 cases of the Delta coronavirus variant carrying a mutation that appears to make it more transmissible, and advised states to increase testing.
Below is what we know about the variant.
WHAT IS DELTA PLUS?
The variant, called “Delta Plus” in India, was first reported in a Public Health England bulletin on June 11.
It is a sub-lineage of the Delta variant first detected in India and has acquired the spike protein mutation called K417N which is also found in the Beta variant first identified in South Africa.
Some scientists worry that the mutation, coupled with other existing features of the Delta variant, could make it more transmissible.
“The mutation K417N has been of interest as it is present in the Beta variant (B.1.351 lineage), which was reported to have immune evasion property,” India’s health ministry said in a statement.
Shahid Jameel, a top Indian virologist, said the K417N was known to reduce the effectiveness of a cocktail of therapeutic monoclonal antibodies.
WHERE ALL IT HAS BEEN FOUND?
As of June 16 https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/994839/Variants_of_Concern_VOC_Technical_Briefing_16.pdf, at least 197 cases has been found from 11 countries – Britain (36), Canada (1), India (8), Japan (15), Nepal (3), Poland (9), Portugal (22), Russia (1), Switzerland (18), Turkey (1), the United States (83).
India said on Wednesday around 40 cases of the variant have been observed in the states of Maharashtra, Kerala and Madhya Pradesh, with “no significant increase in prevalence”. The earliest case in India is from a sample taken on April 5.
Britain said its first 5 cases were sequenced on April 26 and they were contacts of individuals who had travelled from, or transited through, Nepal and Turkey.
No deaths were reported among the UK and Indian cases.
WHAT ARE THE WORRIES?
Studies are ongoing in India and globally to test the effectiveness of vaccines against this mutation.
“WHO is tracking this variant as part of the Delta variant, as we are doing for other Variants of Concern with additional mutations,” the World Health Organization (WHO) said in a statement sent to Reuters.
“For the moment, this variant does not seem to be common, currently accounting for only a small fraction of the Delta sequences … Delta and other circulating Variants of Concern remain a higher public health risk as they have demonstrated increases in transmission,” it said.
But India’s health ministry warned that regions where it has been found “may need to enhance their public health response by focusing on surveillance, enhanced testing, quick contact-tracing and priority vaccination.”
There are worries Delta Plus would inflict another wave of infections on India after it emerged from the world’s worst surge in cases only recently.
“The mutation itself may not lead to a third wave in India – that also depends on COVID-appropriate behaviour, but it could be one of the reasons,” said Tarun Bhatnagar, a scientist with the state-run Indian Council for Medical Research.
(Reporting by Shilpa Jamkhandikar in Pune, Bhargav Acharya and Ankur Banerjee in Bengaluru and Alistair Smout in London; Editing by Miyoung Kim and Giles Elgood)
Colon Cancer Rates Have Increased: How Can You Improve Your Gut Health?
The majority of colon cancer cases are more common among older citizens. However, research has found that colorectal cancer rates have been rising in healthy people under 50. The rate has increased over the ten years. Medical professionals recommend screening from age 45. A colorectal screening test is done to ensure that the individual does not have any signs of cancer.
A study found that there has been a surge in colorectal cancer in younger generations and could become the dominant cause of cancer-related deaths by 2030. Since the risk is alarming, everyone needs to take their gut health seriously. Here are some things that people can do to improve their well-being.
Hydrotherapy is a type of colon cleanse that treats digestive issues such as constipation and bloating. Chronic constipation can lead to colon cancer, so it is vital to deal with the issue before it worsens. Colon hydrotherapy is offered at a few places, including a wellness colonic clinic in Toronto where the staff is committed to providing solutions for their clients’ digestive health.
Cleansing your colon can help improve digestion, relieve constipation, reduce gas, rejuvenate skin, and increase energy. The process involves flushing the colon with a large volume of water. It can be beneficial to speak to the professionals at the clinic and discuss your concerns with them. They will educate you about the process and answer any concerns you may have. The treatment can seem overwhelming but can also be helpful for your gut health.
Your food intake plays a significant role in your gut health. If you have gut problems, it may be worthwhile to speak to a doctor and change your diet. You should also consider finding out if you have any food intolerance. There may be trigger foods such as oil or dairy that could be causing discomfort.
Even if you do not have any problems with your food consumption, it is never wrong to watch what you eat. Foods with probiotics or high fibre content can be good for you. Eating the right foods can improve your overall health too.
Water almost seems like a magical drink sometimes. From skin problems to digestive issues, it can improve many situations. Consuming a good amount of water every day can balance good bacteria in the gut and promote your health. Hydration can also help your organs function properly and improve cognitive function.
Say Goodbye to Extreme Stress
It can be challenging to bid farewell to stress forever. However, chronic high levels of stress can impact your abdomen and your overall health. There is a connection between the brain and gut, and stress can cause your stomach to become anxious.
Long-term stress can trigger several gut problems such as indigestion, constipation, or diarrhea. Look for ways to reduce stress levels so that your gut can remain healthy.
Some health problems are inevitable with age, but you can do your best to stay healthy and deal with any issues you face. Prepare yourself to fight any disease beforehand, and your body will thank you.
Biden’s vaccine pledge ups pressure on rich countries to give more
The United States on Thursday raised the pressure on other Group of Seven leaders to share their vaccine hoards to bring an end to the pandemic by pledging to donate 500 million doses of the Pfizer coronavirus vaccine to the world’s poorest countries.
The largest ever vaccine donation by a single country will cost the United States $3.5 billion but Washington expects no quid pro quo or favours for the gift, a senior Biden administration official told reporters.
U.S. President Joe Biden‘s move, on the eve of a summit of the world’s richest democracies, is likely to prompt other leaders to stump up more vaccines, though even vast numbers of vaccines would still not be enough to inoculate all of the world’s poor.
G7 leaders want to vaccinate the world by the end of 2022 to try to halt the COVID-19 pandemic that has killed more than 3.9 million people and devastated the global economy.
A senior Biden administration official described the gesture as a “major step forward that will supercharge the global effort” with the aim of “bringing hope to every corner of the world.” “We really want to underscore that this is fundamentally about a singular objective of saving lives,” the official said, adding that Washington was not seeking favours in exchange for the doses.
Vaccination efforts so far are heavily correlated with wealth: the United States, Europe, Israel and Bahrain are far ahead of other countries. A total of 2.2 billion people have been vaccinated so far out of a world population of nearly 8 billion, based on Johns Hopkins University data.
U.S. drugmaker Pfizer and its German partner BioNTech have agreed to supply the U.S. with the vaccines, delivering 200 million doses in 2021 and 300 million doses in the first half of 2022.
The shots, which will be produced at Pfizer’s U.S. sites, will be supplied at a not-for-profit price.
“Our partnership with the U.S. government will help bring hundreds of millions of doses of our vaccine to the poorest countries around the world as quickly as possible,” said Pfizer Chief Executive Albert Bourla.
‘DROP IN THE BUCKET’
Anti-poverty campaign group Oxfam called for more to be done to increase global production of vaccines.
“Surely, these 500 million vaccine doses are welcome as they will help more than 250 million people, but that’s still a drop in the bucket compared to the need across the world,” said Niko Lusiani, Oxfam America’s vaccine lead.
“We need a transformation toward more distributed vaccine manufacturing so that qualified producers worldwide can produce billions more low-cost doses on their own terms, without intellectual property constraints,” he said in a statement.
Another issue, especially in some poor countries, is the infrastructure for transporting the vaccines which often have to be stored at very cold temperatures.
Biden has also backed calls for a waiver of some vaccine intellectual property rights but there is no international consensus yet on how to proceed.
The new vaccine donations come on top of 80 million doses Washington has already pledged to donate by the end of June. There is also $2 billion in funding earmarked for the COVAX programme led by the World Health Organization (WHO) and the Global Alliance for Vaccines and Immunization (GAVI), the White House said.
GAVI and the WHO welcomed the initiative.
Washington is also taking steps to support local production of COVID-19 vaccines in other countries, including through its Quad initiative with Japan, India and Australia.
(Reporting by Steve Holland in St. Ives, England, Andrea Shalal in Washington and Caroline Copley in Berlin; Writing by Guy Faulconbridge and Keith Weir;Editing by Leslie Adler, David Evans, Emelia Sithole-Matarise, Giles Elgood and Jane Merriman)
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