Limitless Earth Plc Final Results

 
TIDMLME 
 
26 July 2022 
 
                              LIMITLESS EARTH PLC 
 
                        ("Limitless" or the "Company") 
 
                 Final Results for the year to 31 January 2022 
 
The Company announces its final results for the year to 31 January 2022. 
 
The Annual Report and Accounts for the year ended 31 January 2022 will shortly 
be posted to shareholders and uploaded to the Company's website, 
www.limitlessearthplc.com. 
 
This announcement contains inside information for the purposes of UK Market 
Abuse Regulation. The Directors of the Company take responsibility for this 
announcement. 
 
For further information, please contact: 
 
Limitless Earth plc                                                     +44 (0) 
7780 700 091 
 
Guido Contesso                        www.limitlessearthplc.com 
 
Cairn Financial Advisers LLP                                   [phone] 
0880 
 
Nominated Adviser 
www.cairnfin.com 
 
Jo Turner/Sandy Jamieson 
 
Peterhouse Capital Limited                                        +44 (0) 20 
7469 0930 
 
Broker 
www.pcorpfin.com 
 
Peter Greensmith/Charles Goodfellow 
 
Chairman's Statement 
 
The Company continues to focus on investing in opportunities highlighted by 
demographic trends. This investing strategy has governed the selection of our 
existing investments including cleantech (Saxa Gres), life sciences (Chronix) 
and technology (V-Nova and Exogenesis). 
 
The board is aware of the importance of making the right investment in the 
right sector at the right time and has and will only consider investing in 
opportunities that fit into its investing policy.  In recent years, the board 
has elected to make follow-on investments into its investee companies rather 
than source new investment opportunities, but it continues to review and 
consider investment opportunities and will only invest in the best of those 
reviewed.  The board further recognises the importance of seeing an exit from 
these investments at the right time and it keeps the investment portfolio under 
continuous review. 
 
The Company has cash and cash equivalents at the reporting date of £95,737, 
which the board considers is sufficient for its operations for the financial 
year ahead and the board will look to exit investments when the conditions are 
supportive. 
 
The Company's investing policy is to principally invest in sectors where 
changing demographic factors are important drivers of growth, and these 
investments may be in either quoted or unquoted securities made directly or 
indirectly in partnerships or joint ventures or into individual assets and can 
be at any stage of development.  To date, the board has made direct investments 
in opportunities where other investors may or may not participate.  Given the 
unprecedented changes in recent years and market volatility brought about by 
significant factors such as Brexit and the COVID pandemic, the board considers 
it likely that it will focus on co-investment opportunities from management's 
extensive, high-level contacts in the areas of family wealth and asset wealth 
management.  It is expected this will assist in providing greater liquidity to 
exit and access to follow-on funding for the investee company in the event it 
is required, helping the board better manage its exposure to risk and 
divestment. 
 
The investments made to date are in the form of equity to convertible loans and 
all investments are valued £1,524,560 at fair value.  To determine the fair 
value of each investment, the directors have reviewed all the information 
received from each investee company and also from publicly available 
information on the internet and whilst all of the information available is all 
positive there is insufficient information to demonstrate that the fair value 
is anything other than cost as a result of a lack of other inputs or evidence 
to suggest an uplift or impairment of the value. 
 
The investments are: 
 
Saxa Gres S.p.A, a turn-around circular economy company which specialises in an 
innovative tile production process, has been successful in expanding its 
operations by competitor acquisitions and this has enabled it to satisfy the 
increasing demands for its products while attracting valuable funding from 
relevant institutional investors. 
 
The Board considers Saxa's founders, management and professionals have 
demonstrated outstanding achievements in terms of the development of its 
operations, sales, product expansion and integration of its acquisitions. 
Further, during the reporting period, A2A S.p.A, a ?4 billion listed company, 
took a holding in this investment of 27.7% and as a relevant industrial 
partner, the Board is optimistic that they could help to expand and solidify 
Saxa Gres' successful business model. 
 
The global gas price spike started from last year and is still exacerbated by 
the current relevant market disruptions.  Saxa Gres' operations are dependent 
on gas for production and, post period, Saxa has sought to, and had approved, 
restructure the terms of its bonds.  As a result, the spread in the market 
value of the bonds has increased. Whilst the Board remains optimistic that this 
will correct itself, it has also sought to divest of part of the Company's 
holding of bond, but it maintains its equity participation option in full. 
 
V-Nova International Ltd. is a London-headquartered technology company 
providing next-generation compression solutions that address the ever-growing 
media processing and delivery challenges. V-Nova, as an IP software company, 
has developed an innovative video and imaging compression technology, with a 
valid proof of revenues and concept also in relevant emerging markets 
countries. 
 
V-Nova's LCEVC (Low Complexity Enhancement Video Coding) is the industry's 
first highly optimised implementation of MPEG-5 Part 2 LCEVC, the 
codec-agnostic ISO/IEC enhancement standard capable of providing higher quality 
at up to 40% lower bitrates than codecs used natively. Its unique 
low-complexity design can allow for immediately accelerated encoding by up to 4 
times compared to other commonly used codecs via a simple software upgrade, 
producing significant transcoding cost efficiencies. 
 
V-Nova's management has helped ensure that the company's technology is becoming 
an integrated world standard. 
 
Following a fundraising round in 2021, raising ?33 million in total, a relevant 
investor company publicly declared they invested in V-Nova because it has all 
the right components to soon establish itself on the market as a tech leader 
alongside top global players. 
 
Technical validation of V-Nova's offering continues and, in the first quarter 
of 2022, the V-Nova MPEG-5 LCEVC has been selected for the video enhancement 
codec layer of Brazil's next generation broadcast system. 
 
Brazil's Digital Terrestrial Television System Forum (SBTVD Forum) has been 
working on its next-generation broadcast/broadband solution for a while and 
after extensive and rigorous testing followed by agreement by the Brazilian 
Ministry of Communication, Brazil's SBTVD announced the selection of 
technologies that will be adopted as part of the TV3.0 Project which 
incorporates V-Nova's MPEG-5 LCEVC codec, the only multilayer enhancement video 
codec selected. 
 
Due to the exponential video consumption growth, it materially increases the 
energy savings in the near future like direct server electricity consumption, 
it assists in reducing hardware replacement rates or providing greater reach to 
using with older technology and it drives indirect savings in areas including 
manufacturing costs, cooling, content transmission (CDN), storage and caching 
and end user decoding. 
 
The Company is optimistic that V-Nova has reached a stage of development where 
it will be able to exploit its years of hard work and, importantly, value the 
investments in it as it progresses towards reaching profitability and expanding 
V-Nova's patented capabilities in as many verticals as possible. 
 
Guido Meardi, CEO and Co-Founder, V-Nova said they are looking forward to 
replicating this model elsewhere," 
 
Chronix Biomedical, inc. is a privately-owned biotech company founded in 1997 
which specialises in simple blood tests (liquid biopsies) for real-time 
monitoring of the effectiveness of cancer drugs, including immunotherapies, and 
rejection of transplanted organs. The cancer test is based on a patented 
technology whereby Chronix can identify gains and losses in cell free DNA that 
allow them to determine if a cancer therapy is working. The transplant test 
allows Chronix Company to determine if the organ that is transplanted is being 
accepted or rejected, and thereby allows the physician to alter the 
immunosuppressive drug regimen given to the patient. 
 
In June 2018, Chronix signed its first commercial agreement with a large 
EU-based lab group, which already processes more than 150,000 laboratory 
samples daily, providing an exclusive licence for Germany, Austria, Switzerland 
and Belgium. The contract is for 15 years, and independent research analysts 
have estimated the net present value of the licensing payments to Chronix over 
the life of the agreement to be approximately $92 million. 
 
In April 2021 Oncocyte, a listed Nasdaq Company specialised as a precision 
diagnostics company with the mission to improve patient outcomes by providing 
personalised insights that inform critical decisions throughout the patient 
care journey, bought Chronix Biomedical allowing them to use their network to 
distribute Chronix's products. As part of the terms of the acquisition, 
Chronix's shareholders received rights to future revenues on Chronix's products 
sold. 
 
In Q2 2022 Oncocyte announced that it has completed development of its 
proprietary TheraSureT Transplant Monitoring test for liver transplant 
patients, marking the successful completion of Chronix technology transfer. 
 
Oncocyte's readiness to deploy TheraSure following the Company's acquisition of 
Chronix Biomedical and Oncocyte announcement marks the first product to be 

launched clinically from Chronix acquisition completed in April 2021. 
 
The company is working with the Equity holder Representative to receive sharing 
Sales revenue news on the potential recovering of the investment and eventual 
future revenues from the sale of Oncocyte Chronix products on which the company 
holds rights. 
 
Oncocyte-Chronix's impact investment angle: Chronix's tests provide the 
opportunity for patients and healthcare provides to avoid billions of pounds of 
diagnostic surgery costs, for patients to avoid invasive surgery, healthcare 
provides to reduce demand on resources.  Chronix's products provide for cost 
effective, surgery free treatment monitoring which could lead to more effective 
care and treatments, saving money and lives. 
 
Exogenesis Corporation Headquartered Massachusetts, USA, Exogenesis is a 
private, venture-capital-backed company that has developed and is 
commercialising a proprietary technology to modify and control surfaces without 
applying a coating or creating sub-surface damage. Exogenesis is 
commercialising a platform technology, NanoAccelT, using Accelerated Neutral 
Atom Beam (ANAB) and Gas Cluster Ion Beam (GCIB) technologies that modify and 
control surfaces of materials at a nanoscale level. The company's proprietary 
technologies are used for surface modification and control in a broad range of 
biomedical, optical and semiconductor applications. 
 
On Mid 2021, nanoMeshT LLC, a subsidiary of Exogenesis Corporation, announced 
the formation of a Medical Advisory Board supporting the commercial launch of 
the nanoMeshT product line indicated for the repair of abdominal wall hernias 
and abdominal wall deficiencies that require the addition of reinforcing 
material to obtain the desired surgical result. 
 
nanoMeshT is commercially available in the US and possesses a unique 
nanometre-level surface texture, via the application of Accelerated Neutral 
Atom Beam (ANAB) technology during manufacturing. 
 
Although the Board are optimistic and recognise Exogenesis' technological 
achievements, the investment is pre revenue and we look forward to further news 
on all the verticals and the nanoMeshT product sales. 
 
Exogenesis 'impact investment angle: its technology can modify materials in 
order to alter their behaviour or effectiveness or change their chemical and/or 
physical properties to replicate other, more expensive materials. 
 
It is the intention of the board to seek to exit the current investments when 
conditions provide for a successful exit, in order to provide funds for 
reinvestment.   The board looks forward to updating shareholders with any 
progress in the year ahead. 
 
Guido Contesso 
 
Chief Executive Officer 
 
22 July 2022 
 
Income Statement and Statement of Comprehensive Income 
 
for the year ended 31 January 2022 
 
                                                 Year ended           Year ended 
                                                 31 January           31 January 
 
                                                       2022                 2021 
 
Continuing operations                                     £                    £ 
 
Investment income                                    22,426               27,583 
 
Total income                                         22,426               27,583 
 
Administrative expenses                           (434,505)             (78,076) 
 
Operating loss and Loss before                    (412,079)             (50,493) 
taxation 
 
Taxation                                                  -                    - 
 
Loss for the year                                 (412,079)             (50,493) 
 
Total comprehensive loss for the year             (412,079)             (50,493) 
 
Earnings per share: 
 
Basic and diluted earnings per share              (0.00630)            (0.00077) 
 
 
There are no items of other comprehensive income. 
 
Statement of Financial Position 
 
As at 31 January 2022 
 
                                                       2022                 2021 
 
                                                          £                    £ 
 
Non-current assets 
 
Financial asset investments at fair               1,524,560            1,874,083 
value through profit and loss 
 
Non-current assets                                1,524,560            1,874,083 
 
Current assets 
 
Trade and other receivables                          15,730               41,749 
 
Cash and cash equivalents                            95,737              157,310 
 
Current assets                                      111,467              199,059 
 
Current liabilities 
 
Trade and other payables                           (68,663)             (93,699) 
 
Current liabilities                                (68,663)             (93,699) 
 
Net Assets                                        1,567,364            1,979,443 
 
Equity 
 
Issued Share Capital                                654,000              654,000 
 
Share Premium                                     2,350,630            2,350,630 
 
Retained Earnings                               (1,437,266)          (1,025,187) 
 
Total Equity                                      1,567,364            1,979,443 
 
Statement of Changes in Equity 
 
for the year ended 31 January 2022 
 
                                Share      Share      Share    Retained      Total 
                              capital    premium    warrant    earnings 
                                                    reserve 
 
                                    £          £          £           £          £ 
 
At 31 January 2020            654,000  2,350,630          -   (974,694)  2,029,936 
 
Total comprehensive loss            -          -         -     (50,493)   (50,493) 
for the year 
 
At 31 January 2021            654,000  2,350,630          - (1,025,187)  1,979,443 
 
Total comprehensive loss            -          -         -    (412,079)  (412,079) 
for the year 
 
At 31 January 2022            654,000  2,350,630          - (1,437.266)  1,567,364 
 
Statement of Cash Flows 
 
for the year ended 31 January 2022 
 
                                                  Year ended           Year ended 
 
                                                      31-Jan               31-Jan 
 
                                                        2022                 2021 
 
                                                           £                    £ 
 
Cash flows from operating activities 
 
Loss for the year before tax                       (412,079)             (50,493) 
 
Investment income                                   (22,426)             (27,583) 
 
Foreign currency exchange gain/loss                   24,348              (6,103) 
 
(Increase)/decrease in receivables                    26,019               35,409 
 
Increase in payables                                (25,036)               20,245 
 
Net cash outflow from operating                    (409,174)             (28,522) 
activities 
 
Cash flows from investing activities 
 
Investment income received net                        22,426               27,583 
 
Fair value revaluation of Investment                 227,820            (100,000) 
 
Sale or (Purchase) of investments                     97,357              (4,594) 
 
Net cash outflow from investing                      347,603             (77,011) 
activities 
 
Net decrease in cash and cash                       (61,571)            (105,533) 
equivalents during the year 
 
Cash at the beginning of year                        157,308              262,844 
 
Cash and cash equivalents at the end                  95,737              157,310 
of the year 
 
Notes 
 
1.General information 
 
Limitless Earth Plc is a company incorporated and domiciled in the United 
Kingdom. The Company is a public limited company, which is listed on the AIM 
market of the London Stock Exchange. The address of the registered office is 
Suite 2, Northside House, Mount Pleasant, Barnet, Hertfordshire, England, EN4 
9EB. 
 
The Investing Policy is to invest principally, but not exclusively, in sectors 
where changing demographic factors are important drivers of growth. The Company 
intends to focus initially on projects located in Europe but will also consider 
investments in other geographical regions. The Company may become an active 
investor, acquire controlling stakes or minority positions, in each case, as 
the Board considers appropriate and commercial. 
 
The financial statements are presented in Pounds Sterling, which is the 
Company's functional and presentational currency. 
 
2.Summary of Significant Accounting Policies 
 
The principal accounting policies applied in the preparation of these financial 
statements are set out below. The policies have been consistently applied 
throughout the period, unless otherwise stated. 
 
Basis of preparation 
 
The financial statements have been prepared in accordance with International 
Financial Reporting Standards (IFRSs) and IFRIC interpretations and with 
Companies Act 2006 applicable to companies reporting under IFRSs.  The 
financial statements have also been prepared under the historical cost 
convention, as modified by the revaluation of financial assets at fair value 
through profit or loss. 
 
The preparation of financial statements in conformity with IFRSs requires the 
use of certain critical accounting estimates.  It also requires management to 
exercise its judgement in the process of applying the Company's accounting 
policies.  The areas involving a higher degree of judgement or complexity, or 
areas where assumptions and estimates are significant to the financial 
statements are disclosed later in these accounting policies. 
 
Going Concern 
 
At the reporting date the Company had cash resources of £95,737 and the 
Directors have prepared cash forecasts that show that, at the time of approving 
the financial statements, the Company has adequate resources to continue in 

existence for the foreseeable future.  Thus, they continue to adopt the going 
concern basis of accounting in preparing the financial statements. 
 
3.Financial Asset Investments 
 
                                                                 2022            2021 
                                                                    £               £ 
 
On 1 February                                               1,874,083       1,763,386 
 
Cost of investment purchases                                        -           4,594 
 
Sale proceeds from investments                               (97,356)               - 
 
Foreign currency exchange gain/(loss)                         (24,347           6,103 
 
Fair value revaluation                                      (227,820)         100,000 
 
31 January - Investments at fair value                      1,524,560       1,874,083 
 
Categorised as: 
 
Level 3 - Unquoted investments                              1,524,560       1,874,083 
 
                                                            1,524,560       1,874,083 
 
The valuation model adopted by management is explained in Note 3, Critical 
accounting judgements and estimations and is applicable to each of the 
investments listed below: 
 
Chronix Biomedical Inc ("Chronix") 
 
On 8 October 2015 the Company made an investment in Chronix of US$500,000 
(approximately £329,511) in the series I round of convertible preference stock 
("Series I Stock") at a price of US$0.40 per share. On a fully diluted basis, 
considering all classes of common and preference stock in issue, at the date of 
investment, Limitless' investment represented 0.72% of Chronix's issued share 
capital and values Chronix at approximately US$69 million. 
 
On 20 September 2019, the company announced that it made a further investment 
of $100,000 (£81,526) in form of a promissory note. 
 
On 19th Match 2021, the company announced that Chronix had entered into an 
agreement t with Oncocyte Corporation Inc. ("Oncocyte"), a listed US based 
molecular diagnostics company, for its acquisition for cash, equity and a 
future revenue share consideration on Chronix products from now on using the 
Oncocyte distribution channels. 
 
On 20th April 2021 and after the financial year, Chronix repaid $109,460.09 
which comprises of the $100,000 promissory note interest. 
 
On 29th June 2022 the Chronix Equity Representative receiving Chronix products 
sales updated from Oncocyte,  estimated a possibility to receive a first cash 
flow within one year (potentially up to  the 50% on the investment) if the 
current sales track were maintained The future cash flows will be received 
yearly in a time period from 7 to  10 years depending by each type of  Chronix 
product and the countries in which Oncocyte distribution channels sell them, 
The future cash flows will be received yearly in a time period for 7 to  10 
years. 
 
V Nova International Ltd ("V-Nova") 
 
On 18 December 2015, the Company made a cash investment of £500,000 in V-Nova, 
a company that specialises in Advanced Signal & Data Compression Solutions. The 
investment was through the acquisition of £500,000 worth of Convertible loan 
notes. On 4 April 2017, these notes were converted into 7,284,382 Series B1 
Participating shares at a 20% discount to the preferential valuation of V-Nova 
at the time, of £100 million. 
 
On 30 October 2020, V-Nova raised £16,810,410 on a series C1 funding round and 
the company settled unconverted loan not holders with £8,556,144 cash. V Nova 
raised further £5,661,027 in December 2020. 
 
On 16 June 2022, V-NOVA finalized a fund raising  of £27,014,336. at £0.09 with 
Limitless Earth holding 7,284,382 Shares. 
 
Saxa Gres S.A ("Saxa") 
 
On 23 December 2015, the Company invested ?350,000 (approximately £258,830) in 
Saxa.  As a first-round subscriber, Limitless has also been granted an option 
to acquire 1.1655 per cent. of the equity in Saxa at nominal value with the 
intention that, once the bonds have been repaid, Limitless will be able to 
maintain an interest in Saxa of approximate value to the bond investment. 
 
On 21 March 2017, Limitless announced that it had increased its investment in 
Saxa Gres by acquiring a further 267 Notes for a value of ?267,000. These Notes 
were also accompanied by options to acquire shares in Saxa Gres, in this case 
to acquire another 1.333% of its equity share capital with each option having 
an exercise price of ?1. In total, Limitless has options to acquire 
approximately 2.5% of the equity share capital of Saxa Gres at an exercise 
price of ?1 per share. 
 
On 16 November 2017, the Company announced that it had made a further 
investment in Saxa Gres S.p.A. of approximately EUR ?75,000 in form of a loan. 
Saxa Gres was raising funds, via an increase in its share capital, in order to 
invest in a new production line, it required to meet a significant increase in 
orders. Limitless participated alongside two sizable credit funds in order to 
maintain its interest in Saxa Gres. 
 
On 19 January 2021, the Company announced that a recent investor in Saxa Gres, 
was A2A S.p.A., a ?4 billion listed company, as a Saxa Gres shareholder (27.7%) 
and as a relevant industrial partner which could help to expand and solidify 
Saxa Gres' successful business model. 
 
At the request of Saxa Gres in order for it to gain better access bank 
financing to further its investment plans, the Board of LME, together with 96% 
of the existing 2023 bond holders, agreed to exchange its 617 Saxa Gres bond 
notes with maturity in 2023 into a similar amount of Saxa Gres notes of 7 per 
cent. with maturity in 2026. 
 
On 29th July 2021, the Company entered into an agreement with an FCA regulated 
broker to dispose 30 Saxa Bonds ISIN: IT0005418436 (for a nominal value of ? 
29,131.73 net of a 3.5% commission). 
 
On 19th July 2022, the Company entered into an agreement with an FCA regulated 
broker to dispose EUR 275,000 Saxa Bonds ISIN: IT0005418436 (for a nominal 
value of ?165,000 net of commission). The board have provided a fair value 
reduction of EUR 227,820 on the carrying value in Saxa Gres investment at 
31.1.2022. 
 
Exogenesis. 
 
On 6 May 2016, the Company made an investment in Exogenesis, a nanotechnology 
company which has developed nanoscale surface modification technology to, inter 
alia, improve the safety and efficacy of implantable medical devices and is 
being used to develop next generation microscopy tools for DNA analysis. 
 
The Company invested US$300,000 (approximately £200,000) in the Exogenesis 
senior convertible notes which accrued an 8 % annual interest ("Notes").  The 
Notes, together with accrued interest, are convertible into Exogenesis series B 
preferred stock at a price of US$0.382 per share or, at the option of 
Limitless, into Exogenesis series C preferred stock at a 20 % discount to the 
issue price at the time of the next financing. 
 
On 9 June 2017, the Company extended the maturity date of the loan notes to 31 
December 2017 from 30 June 2017 and lowered the conversion threshold amount to 
$2,500,000. Upon the cash financing being achieved and the maturity date being 
reached, the notes were then converted into series B preferred stock at the 
agreed price. 
 
The table of investments sets out the fair value measurements using the IFRS 7 
fair value hierarchy.  Categorisation within the hierarchy has been determined 
on the basis of the lowest level of input that is significant to the fair value 
measurement of the relevant asset as follows: 
 
Level 1 - valued using quoted prices in active markets for identical assets. 
 
Level 2 - valued by reference to valuation techniques using observable inputs 
other than quoted prices included within Level 1. 
 
Level 3 - valued by reference to valuation techniques using inputs that are not 
based on observable market data. 
 
The valuation techniques used by the Company are explained in the accounting 
policy note, "Financial asset investments". 
 
LEVEL 3 FINANCIAL ASSETS 
 
Reconciliation of Level 3 fair value measurement of financial assets: 
 
                                                                 2022           2021 
                                                                    £              £ 
 
Brought forward                                             1,874,083      1,763,386 
 
Purchases                                                           -          4,594 
 
Sale proceeds from investments                               (97,356) 
 
Foreign currency exchange gain /(loss)                       (24,347)          6,103 
 
Fair value revaluation                                      (227,820)        100,000 
 
Carried forward                                             1,524,560      1,874,083 
 
4.Earnings Per Share 
 
(a)  Basic 
 
Basic earnings per share is calculated by dividing the loss attributable to 
equity holders of the Company by the weighted average number of ordinary shares 
in issue during the period. 
 
                                                                 2022           2021 
 
                                                                    £              £ 
 
Loss from continuing operations attributable to equity      (412,079)       (50,493) 
holders of the company 
 
Weighted average number of ordinary shares in issue        65,400,000     65,400,000 
 
                                                                Pence          Pence 
 
Basic earnings per share from continuing operations         (0.00630)      (0.00077) 
 
(b)  Diluted 
 
Diluted earnings per share is calculated by adjusting the weighted average 
number of ordinary shares outstanding to assume conversion of all dilutive 
potential ordinary shares. There were no potentially dilutive instruments 
outstanding at 31 January 2022. 
 
5.Post Year End Events 
 
On 21 July 2022, the company announced that Saxa Gres had extended the maturity 
of the Bonds from 2026 to 2027 and agreed that it would pay coupons conditional 

on certain revenue targets being met and linked to the sale of non-core assets. 
As a result of this restructuring, the Company decided to reduce its holding in 
the Bonds and sold 275 Bonds for a total consideration of EUR 165,000. 
Following the sale, the Company continues to hold Bonds with a face value of 
EUR 317,000.  The proceeds of the sale will be used for general working capital 
purposes. 
 
FORWARD LOOKING STATEMENTS 
 
Certain statements made in this announcement are forward-looking statements. 
These forward-looking statements are not historical facts but rather are based 
on the Company's current expectations, estimates, and projections about its 
industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 
'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions 
are intended to identify forward-looking statements. These statements are not a 
guarantee of future performance and are subject to known and unknown risks, 
uncertainties, and other factors, some of which are beyond the Company's 
control, are difficult to predict, and could cause actual results to differ 
materially from those expressed or forecasted in the forward-looking 
statements. The Company cautions security holders and prospective security 
holders not to place undue reliance on these forward-looking statements, which 
reflect the view of the Company only as of the date of this announcement. The 
forward-looking statements made in this announcement relate only to events as 
of the date on which the statements are made. The Company will not undertake 
any obligation to release publicly any revisions or updates to these 
forward-looking statements to reflect events, circumstances, or unanticipated 
events occurring after the date of this announcement except as required by law 
or by any appropriate regulatory authority. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 26, 2022 02:00 ET (06:00 GMT)