Latest News for Obocon Stock (OTC:OBCN)

Obocon Inc formerly known as Clancy Systems International Inc offers an Android-based solution for issuing parking citations. The company's system provides ticket issuance, data management, noticing, enforcement, payment processing, permitting, and all other essential modules for a complete ticket administration program. Its services include Automated notice letter mailings, Real-time stole/wanted vehicle alerts, Dispute resolution, Parking operation privatization, Online parking permit website and fulfillment and Park by Phone complimenting metered parking.

Obocon Inc

DMG Blockchain Solutions Inc. (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/DMGI#TSXV">DMGI</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DMGGF#OTC">DMGGF</a>) (FRANKFURT: 6AX), a vertically integrated blockchain and data center technology company, has announced a strategic collaboration with PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) (<a href="https://www.globenewswire.com/Tracker?data=tIiPOdkCnTwupyNX5G74rcWgi4TFm5P91iWbIb21_GwpjmEDygaDfV6TeXHC-ejfRx2QwbAjczm2tmjp8JhrfA==">www.paypal.com</a>) and Energy Web (EWT) (<a href="https://www.globenewswire.com/Tracker?data=8hUgxce34uuGU2f0VEX3Vl6OAPLRk-CKUio3PqzLXRbKhk-IRkYaiqagfL69tT_VEEMx8wMNErDfqmTIDI__5RLrQOvpF57A9hG0gTmLDwM=">www.energyweb.org</a>) to explore ways to decarbonize the Bitcoin blockchain. The companies are working together on developing methods for transacting on the Bitcoin network which would expand its use as a carbon neutral payment rail, thus advancing its application. &nbsp;
DMG, Energy Web, and PayPal are working together to publish a research paper, which we collectively believe will benefit users of the Bitcoin network who would like to take advantage of carbon neutral options in their transactions. PayPal, with its focus on developing its bitcoin payment rail, has been a leader in new payment technologies with the introduction of its enhanced services by integrating blockchain technology, launching the PayPal USD (PYUSD) stablecoin with Paxos Trust Company in August 2023 for efficient transactions.
Energy Web, an independent non-profit that develops open-source software for clean energy solutions, launched its<a href="https://www.globenewswire.com/Tracker?data=Pl2SJv78UD1nGh6gZeZaPQkxUEFSBTzH-fTMWgtNatLKNjruUEFDlQLV6ogr1fkC3eP4BJ75QbjzAdB7xuOW1KhoPWeOdqr7NNa9J4Mn9J4="> Green Proofs for Bitcoin</a> (GP4BTC), a first-of-its kind initiative to establish an independent, standardized energy measurement system for the Bitcoin mining industry, of which DMG was one of the first five companies to receive a Clean Energy Score.
DMG, with its focus on a carbon neutral bitcoin mining pool and technology to move bitcoin between users without adding carbon to their transactions, brings its unique technology stack and experience in Bitcoin Core software engineering. PayPal, Energy Web and DMG, each with its own domain expertise, are proud of the success in testing achieved so far and are keen to let the wider community review the progress in this "Green Mining Initiative."
DMG's CEO Sheldon Bennett commented, "We are pleased to be devoting resources to this collaboration with PayPal as well as Energy Web, which complements our ongoing efforts to decarbonize the Bitcoin blockchain. As DMG is already an industry leader with Terra Pool, the industry's first carbon-neutral mining pool with Petra, a transaction technology that leverages Terra Pool, we are excited to work with a large enterprise partner; PayPal's extensive capabilities will undoubtedly accelerate the advancements we have initiated, significantly advancing our sustainable practices forward."
Edwin Aoki, Chief Technology Officer of PayPal's Blockchain, Crypto and Digital Currency Group, added "We are excited to be working with DMG to explore solutions to reduce the carbon footprint of decentralized financial networks globally. Their Bitcoin network software development expertise and access to carbon neutral mining infrastructure are valuable building blocks towards a more sustainable crypto ecosystem."
Energy Web's Chief Executive Officer, Jesse Morris commented, "Collaborating with DMG's innovative approach to blockchain sustainability sets a robust example for the industry. Having industry leaders like DMG actively engaging in our initiatives significantly enhances our efforts to integrate sustainable practices across all facets of blockchain technology."
In working with PayPal, DMG hopes to establish a new industry standard for blockchain applications in financial services, propelling the industry towards adopting more environmentally sustainable technologies. It represents a proactive approach towards addressing the environmental concerns associated with cryptocurrency operations, thereby contributing to the decarbonization of the global economy.&nbsp;Read about the collaboration among <a href="https://www.globenewswire.com/Tracker?data=OEYsJ9o5nWc8Mc0HR72o5Eqx87_9IMXLxmGEWnV1SjZYuLpHGqTkUpeDNq0FFDJeYt3-VnCeP5UvaH5HRG-w0z8_AdPsLEFl-bB9LOxeDC5IWZbHYfslvdSGFp5N3OTZklzUxzrRBaSWYF2gIoEeh2_BE4lntE2mKsy7M4eiDFHc_b8U6JH8DG-uN2NSPwBy">DMG, Energy Web, PayPal: Sustainable Innovation</a>.

News

DMGGF

PYPL

TSXV:DMGI

DMG Blockchain Solutions Announces Collaboration With PayPal To Decarbonize The Bitcoin Blockchain; Developing Methods For Transacting On The Bitcoin Network Which Would Expand Its Use As A Carbon Neutral Payment Rail, Thus Advancing Its Application

-- Helius Medical and Shepherd Center partner on a study that aims at rehabilitating walking mobility in people recovering from stroke -- -- Shepherd Center, a top neurorehabilitation hospital, is the third site in Helius' U.S. registrational program for Portable Neuromodulation Stimulator (PoNS&#xAE;) in stroke -- -- The single-arm study will evaluate PoNS in treating gait and balance deficits in chronic stroke survivors -- -- Regulatory submission seeking marketing authorization for stroke expected in 2025--
NEWTOWN, Pa., April 24, 2024 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSDT#NASDAQ">HSDT</a>) ("Helius" or the "Company"), a neurotech company focused on delivering a novel therapeutic neuromodulation approach for balance and gait deficits, today announced the expansion of its clinical development program for the broadening of the labeling of its marketed PoNS device to include patients recovering from stroke with the participation of Shepherd Center, under the direction of Michael Yochelson, M.D., MBA, FAAN, FAAPMR, Chief Medical Officer. Participating to the Company-sponsored single-arm study, Shepherd Center joins Brooks Rehabilitation as a third clinical site to the overall registrational program. As one of the nation's top neurorehabilitation hospitals, Shepherd Center is known for its innovation, patient outcomes exceeding the national average, and expertise in providing world-class clinical care for people experiencing the most complex conditions, including stroke, spinal cord and brain injuries, multi-trauma, traumatic amputations, multiple sclerosis, and pain.
The study aims to evaluate the potential benefit of PoNS Therapy&#xAE; in treating gait and balance deficits in chronic stroke survivors. Shepherd Center has been an impactful participant in the PoNS Therapeutic Experience Program ("PoNSTEP"), a Company-sponsored outcome research clinical trial designed to evaluate the impact of subjects' adherence to PoNS Therapy in people with multiple sclerosis ("MS"), a trial led by Deborah Backus, PT, Ph.D., FACRM, Vice President of Research and Innovation.
"Shepherd Center has been a valuable partner to Helius for almost two years. We are delighted Dr. Yochelson has agreed to contribute to the implementation of our stroke registrational program and undertake the study at Shepherd Center," said Antonella Favit-Van Pelt, M.D., Ph.D., Helius' Chief Medical Officer. "Shepherd Center's earlier involvement with the MS program is a testament to the strength of our clinical program. Dr. Backus and her research team have made an impactful contribution to further demonstrating PoNS Therapy's ability to induce significant and clinically meaningful improvements in gait rehabilitation in MS patients. Clinical evidence with PoNS Therapy has led to a new indication for treatment of gait deficits in stroke patients in Canada as well as highlighted the importance of this therapy in reducing the risk of falling in stroke survivors with gait and/or balance deficits. This study, as part of the broader registrational program, is an important step toward potentially obtaining authorization for treatment of gait deficits in stroke patients in the U.S."
"Innovation is at the core of what we do, and strategic collaboration is critical to advancing rehabilitation medicine and discovering better, more effective ways to deliver care," said Dr. Backus. "From my experience with the therapy, PoNS has the potential to improve the lives of patients suffering from MS, and we believe it can have a meaningful therapeutic effect on chronic stroke survivors as well. I'm excited to bring this innovative treatment to Shepherd Center, where we take a patient-centric approach designed to promote the highest level of functioning possible."
With recruitment starting in May 2024, Dr. Yochelson anticipates enrolling approximately 8-10 participants into the trial by the end of the year.

HSDT

Helius Medical Technologies Expands Stroke Clinical Program With Participation Of Shepherd Center

Roth MKM analyst Harry Fong maintains Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) with a Buy and maintains $280 price target.

Price Target

Analyst Ratings

Roth MKM Maintains Buy on Chubb, Maintains $280 Price Target

CICC initiates coverage on Southern Copper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) with a Outperform rating.

Initiation

SCCO

CICC Initiates Coverage On Southern Copper with Outperform Rating

WIIM

STLD

Steel Dynamics are trading higher following a Q1 EPS beat.

MRNA

Moderna shares are trading higher after the company and OpenAI announced a collaboration to advance mRNA medicine.

<a href="https://www.globenewswire.com/Tracker?data=yAyXhWQM_4TxIXYF5ra2klEc59edpSibZdcR-TN0S6BhLkIEj4tKZAJWK3VQ-UZZJZDTRpDUAz3iZ1_yzRpHSOAj9k-8fq4D9hSuf6QfdjA=">Vistar Media</a>, the leading global provider of technology solutions for out-of-home (OOH) media, today announced that <a href="https://www.globenewswire.com/Tracker?data=Yx5ftqom7p7e4oqs1RvYrmE9jfBxGFlXYMCiD6VO-vQVlTXLH9k-1n-fVhN53UIeYfiDJfnSMjXz2Uqf2MFo08wE-u1aiiUCr0aoOgXx7U4=">Lamar Advertising Company</a>, one of the largest outdoor advertising companies in the world, selected Vistar's content management software (CMS), Cortex, to power its network of digital out-of-home (DOOH) billboards across the U.S. The agreement follows a partnership forged in 2023 in which Lamar chose Vistar to run its <a href="https://www.globenewswire.com/Tracker?data=_Yu5fTsjevEIyG-jl5M766mWa29sAbZOI18tsala4vCbxGN0FyRopSqa3NFWJWk0qP46dXg4NxkMHj-9gykrWSvN9RBZTtB5UUUIdL3wU03OfdZ4O88QVmeFF8hZO5W8FHY9OnWEdEdQ2GuGhj-AwRbNYRmsU9KUuCF9KesvW6gkUMlBy2xXDwQTtesrX4Ut">Denver Transit DOOH network</a>.
Lamar offers advertisers the largest network of digital billboards in the U.S., boasting nearly 5,000 displays serving over 5 billion weekly impressions. Lamar deployed Cortex to its entire DOOH network in less than six weeks with zero downtime. The smooth transition underscores the effectiveness of Vistar's Cortex software suite, purpose built for the distinctive demands of DOOH networks.
Sukhvinder Singh, SVP, Technology &amp; Innovation at Lamar Advertising shared, "Having partnered with Vistar for over a decade, we were confident in their proven track record of success and trusted the unique technology they have built to power a DOOH network of our size. We have a shared passion for impactful OOH advertising, and we're excited to expand on our partnership with Vistar to continue connecting advertisers with audiences that matter to them. The speed and efficiency with which we deployed their technology across our network was truly impressive."
"Lamar's nationwide footprint, paired with the sheer size of its digital billboards, allows advertisers to reach consumers with unparalleled creative impact," said Eric Lamb, SVP, Enterprise Solutions at Vistar Media. "A network of this scale and influence deserves industry-leading technology to support it, and Vistar is thrilled to expand our CMS partnership across Lamar's billboard network. It's a really exciting time for OOH, and we're honored to put Vistar's engineering power behind Lamar's incredible business."
<a href="https://www.globenewswire.com/Tracker?data=7Bh_-5qoFPELC3QoS5HpsnT2rRmkiOU1-rKIml3FGB6twiBtzCkY8LZt0WOYbQ09-8BYOnvkcYkm2oUozTUJLAH9roBbxPyNyGTDkLVRiyXyh4gla13zn7lmQtn7E5eF">Reach out to Vistar today</a> to learn more about the tools that have been specially engineered for media owners.

Contracts

LAMR

Lamar Advertising Company Selects Vistar Media To Power Its US Digital Out-Of-Home Billboard Network

Innovative "Solomon Hills"&nbsp;project will support 4,000 Central Coast working families near Vandenberg Space Force Base

CDZI

Cadiz Announces Water Supply Agreement With Solstra Communities To Support Housing In Santa Barbara County; Water Supply From Cadiz Delivered Through Exchanges Of Water With Regional Water Contractors Using Its Northern Pipeline

Boeing Co&nbsp;(NYSE:&nbsp;BA) shares are rising following the company&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38400545/boeing-reports-first-quarter-results" rel="noreferrer noopener">first-quarter fiscal 2024 results</a>. CEO Dave Calhoun emphasized a commitment to enhancing their quality and safety systems, aiming for a more stable future.
Boeing reported a first-quarter revenue decline of 8% year-over-year to $16.569 billion, beating the consensus of $16.227 billion. Revenue decrease reflects lower commercial deliveries and 737-9 grounding customer considerations.
Adjusted loss per share contracted to $(1.13) from $(1.27) in the same quarter of 2023,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $(1.76).</a>
Boeing&nbsp;recorded an adjusted operating loss of $(388) million for the quarter, compared to $(440) million a year ago. Core&nbsp;operating margin was (2.3)%.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38402133/boeing-faces-potential-criminal-prosecution-as-crash-victims-families-demand-justice-throw-out-the-d" rel="noreferrer noopener">Boeing Faces Potential Criminal Prosecution As Crash Victims&#8217; Families Demand Justice: &#8216;Throw Out The DPA&#8217;</a>
Commercial Airplanes revenue fell 31% YoY to $4.65 billion, and deliveries declined by 36%. During the quarter, Commercial Airplanes booked 125 net orders, and the backlog included over 5,600 airplanes valued at $448 billion.
During the quarter, the 737 program cut production to below 38&nbsp;units per month&nbsp;to improve quality management and reduce carried-over work.
In addition, the company said Commercial Airplanes is implementing a comprehensive action plan to address feedback from the FAA audit of 737 production.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38369584/boeing-foresees-slower-787-production-ramp-up-due-to-supplier-shortages-report" rel="noreferrer noopener">Boeing Foresees Slower 787 Production Ramp-Up Due To Supplier Shortages: Report</a>
Defense, Space &amp; Security revenue increased 6% Y/Y to $6.95 billion. The backlog was $61 billion, of which 31% represents orders from customers outside the&nbsp;U.S.
Global Services revenue grew by 7% Y/Y to $5.045 billion. The operating margin expanded 30 bps to 18.2%, reflecting higher commercial volume and mix.
Operating cash outflow for the quarter totaled $(3.362) billion, compared to $(318) million YoY; Free cash outflow was $(3.9) billion.
Cash and investments in marketable securities totaled $7.5 billion at the end of the quarter. The total company backlog was $529 billion.
Debt was $47.9 billion, down from $52.3 billion at the beginning of the quarter due to the paydown of maturing debt.
In other news,&nbsp;Spirit Aerosystems Holdings, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPR#NYSE">SPR</a>) disclosed in a&nbsp;<a target="_blank" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1364885/000110465924050576/tm2412451d1_8k.htm" rel="noreferrer noopener">filing&nbsp;</a>that Boeing will pay $425 million as an advance payment of amounts amid increased inventory levels and reduced cash flow following FAA restrictions.
Under the agreement, Spirit will maintain a production rate that supports Boeing&#8217;s contractual production demand.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38105865/boeing-airbus-near-deal-to-divide-operations-of-key-supplier-spirit-aerosystems-report" rel="noreferrer noopener">Boeing, Airbus Near Deal To Divide Operations Of Key Supplier Spirit AeroSystems: Report</a>
Price Action: BA shares are trading higher by 4.01% at $175.97 premarket at the last check Wednesday.
Photo via Shutterstock

Earnings

Equities

Large Cap

Movers

Boeing's 737 Saga Dents Q1 Bottomline, CEO Emphasizes Improving Quality & Safety

Roth MKM analyst Eric Handler maintains Mattel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) with a Neutral and maintains $21 price target.

Roth MKM Maintains Neutral on Mattel, Maintains $21 Price Target

Gordon Brothers, the global asset experts, has agented a $200 million delayed draw term loan for Big Lots Inc.
The U.S. home discount retailer of general merchandise will use the loan's delayed draw feature to execute on strategic initiatives with the remaining amount to draw upon for available working capital and flexibility as needed.
"Having established a working relationship with Big Lots over the last few years, we combined our flexible financial structure with our full suite of holistic services for a complete solutions-driven package," said <a href="https://www.globenewswire.com/Tracker?data=vLM_GhbEuuTdm8AsGG2O6t9jwqFdZzcKkX5mcfdfk88QCN16fue78261qfT7zuUfHot4ZrYywTLOPBfzHb2r-9p8ZSGFrZduhoWGF5APJiHbnOMyLyXkIRen4L1rbLGVITkfpnHIPfYPxC6ZxoBhtQcxjG5HrvUAD5sa3EmpI53NdmGcGXwQ7A9y4JrSjT9USLhgpPXEUN-q_d7T0hhXcMcvOkpSEEV_3ZPOf413Y0Y9nWmhakO2Pr01nVvxOaYE">Kyle C. Shonak, Senior Managing Director, Transaction Team &amp; Head of North America Lending at Gordon Brothers</a>. "We provide the capital and solutions to unlock the future and enable businesses to execute on their short- and long-term strategy."
"The financing gives us additional flexibility as we continue our turnaround strategy and focus on delivering extreme bargains and unmistakable value to our customers,"&nbsp;said Jonathan Ramsden, Executive Vice President and Chief Financial and Administrative Officer at Big Lots. Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.
Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations. The firm's tailor-made solutions provide clients additional capital alongside traditional debt and equity, and its structures complement senior asset-based lending facilities and include credit and yield enhancements.

Financing

Gordon Brothers Has Agented A $200M Delayed Draw Term Loan For Big Lots

noco-noco Inc. (NASDAQ:<a href="https://www.benzinga.com/stock/NCNC#NASDAQ">NCNC</a>), ("noco-noco"), signed a Memorandum of Understanding with Binex Inc. Tokyo ("Binex") to jointly develop agriculture-based carbon-credits.
With its core mission in climate action to reduce carbon emissions, noco-noco, apart from its X-SEPA&#x2122; separator technology that extends lithium-ion battery life by approximately five times, also collaborates with partners to develop carbon credits. Currently, with thousands of hectares of nature-based deforestation credits under development in Papua New Guinea, noco-noco seeks to diversify into agriculture-based carbon credits by collaborating with Binex.
Binex is currently engaged in advancing the production of biofuels by cultivating sorghum, a member of the Gramineae family. The specific variety of sorghum used boasts high yields, capable of generating substantial biomass. Developed through collaborative research with the University of Tokyo, Binex aims to revolutionize the biofuel industry with this innovative approach. While conventional grain-type sorghum has a biomass of 40 to 60 tons/hectare/yeari, the types of sorghum that Binex uses have yields of over 250 tons/hectare/yearii.
In the face of escalating climate challenges, Binex's sorghum project aligns with multiple United Nations Environmental, Social, and Governance (ESG) goals, including enhancing food security, reducing carbon emissions, improving soil health, and boosting farmers' livelihoods. Sorghum, known for its resilience, thrives in marginal lands, enhancing soil quality. Utilizing sorghum stalks and leaves for biofuel production offers an eco-friendly alternative to oil and coal, complementing its traditional food cultivation purpose. This innovative initiative is poised to generate carbon credits through significant soil carbon sequestration during cultivation.
Armed with sorghum cultivation data from various countries and 10,000 hectares' worth of sorghum seeds currently in stock and ready to be deployed, Binex will embark on large-scale cultivation soon. Cultivation was initiated in Thailand last year (See photo in article) and Binex plans to begin cultivation in Australia later this year.
Sorghum, with its deep roots and resilient components resistant to degradation, offers a tangible opportunity for soil carbon sequestration. Historically, estimating soil carbon storage during crop cultivation has been challenging due to its susceptibility to decomposition and variability based on land conditions. By prioritizing persistent components with enduring stability spanning hundreds or even thousands of years,iii this initiative is poised to establish the credibility and permanence necessary for high-quality carbon credits.
Studies by Binex have shown that through its lignite content, only 18 to 20 tons of carbon per hectareiv can be sequestered and maintained without degradation over an extended period. Further research is underway to increase carbon capture content, such as non-tillage cultivation and the use of bacteria for carbon capture, and it is projected that more carbon can be sequestered by combining these methods. Through methods like cultivation in root boxes and measurement of actual root mass, Binex aims to accurately quantify the carbon content within these roots progressing to project root mass in large-scale cultivated areas. By focusing on the carbon sequestered in the persistent components of the root, Binex will work towards the development of GHG sequestration and the production of high-quality carbon credits.
Mr. Masataka Matsumura, CEO of noco-noco, conveyed his excitement about the partnership, saying, "We're thrilled to collaborate with Binex as we advance our mission to decarbonize and provide enhanced solutions with quality carbon credit offerings to our customers in the EV and battery manufacturing sector seeking to decarbonize."

Global

NCNC

Noco-Noco Collaborates With Binex To Develop Agriculture Based, Soil Sequestered Carbon Into Credits

ODFL

Old Dominion Freight Line shares are trading lower following a Q1 revenue miss.

Roth MKM analyst Craig Irwin maintains Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a Neutral and maintains $85 price target.

TSLA

Roth MKM Maintains Neutral on Tesla, Maintains $85 Price Target

The fervor surrounding Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) exchange-traded funds (ETFs) continues to build, <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36586034/crypto-leaders-react-to-historic-sec-bitcoin-etf-approval-huge-inflection-point-for-digita">particularly after the successful launch </a>of multiple Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETFs earlier this year. 
However, the path to approval for Ethereum ETFs faces continued regulatory scrutiny, with the U.S. Securities and Exchange Commission (SEC) engaging in a detailed review process with prospective issuers.
Grayscale Intensifies Efforts with Revised S3 Prospectus
Despite facing regulatory headwinds, Grayscale, a leader in digital currency asset management, has not relented in its <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38400241/spot-ethereum-etf-approval-unlikely-but-bad-news-already-priced-in-standard-chartered">push for a Spot Ethereum</a> ETF. 
The firm manages approximately $10.87 billion in its Ethereum Trust (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#OTCQX">ETHE</a>) and has recently updated its registration through an S3 prospectus, aiming to elevate its ETHE to the NYSE Arca. 
This filing is a critical move to transition the trust into a more accessible ETF format for investors.
&#8220;Today we submitted new regulatory filings that would further expand our product suite,&#8221; Grayscale remarked, reaffirming its commitment to providing investors with access to Ethereum in a regulated framework. 
The decision from the SEC, however, has been deferred to June 11, 2024, as the commission requires more time to consider the complexities of such financial products.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38401088/bitcoin-spot-etfs-net-31-6m-inflows-as-hong-kong-readies-for-etf-launches">Bitcoin Spot ETFs Net $31.6M Inflows As Hong Kong Readies For ETF Launches</a>
BlackRock Maintains Course Amid Regulatory Uncertainty
Similarly, BlackRock continues its pursuit of an Ethereum ETF, having amended its 19b-4 application. However, the outlook from analysts remains cautious. 
&#8220;The likelihood that this would expedite an approval is slim to none,&#8221; <a href="https://twitter.com/JSeyff/status/1782870684806324315">stated</a> James Seyffart, an ETF analyst from Bloomberg Intelligence, indicating only a 25% chance of a favorable decision by the previously anticipated May 23 deadline.
The hesitance from the SEC has led to broader concerns in the financial community about the likelihood of Ethereum ETF approvals in the near term. 
Analysts from JP Morgan have estimated the chances of approval by the May deadline at no more than 50%. 
In contrast, GSR&#8217;s analyst Brian Rudick has notably reduced the probability to 20% from an initially optimistic 75%.
Industry Reaction to Delays
The ongoing delays and rigorous scrutiny from the SEC have sparked significant commentary among industry specialists. 
&#8220;It looks like a final nudge to try and get the SEC&#8217;s attention, although most likely in vain,&#8221; <a href="https://twitter.com/EricBalchunas/status/1782873202487631968">said</a> ETF specialist Eric Balchunas, highlighting a general sense of pessimism that has persisted since the initial campaigns for cryptocurrency ETFs.
Benzinga's Future Of Digital Assets Event
As discussions and developments around Ethereum ETFs continue to unfold, they will undoubtedly be a topic of focus at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38401035/binance-founder-changpeng-zhao-apologizes-doj-pushes-for-3-year-sentence">Binance Founder Changpeng Zhao Apologizes, DOJ Pushes For 3-Year Sentence</a>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$ETH

ETHE

Why SEC Delays Put The May Ethereum ETF Deadline In Doubt

The Chinese tech behemoth and Apple Inc rival Huawei has unveiled its new software brand for intelligent driving, &#8220;Qiankun.&#8221; This move is part of the company&#8217;s strategic plan to establish a significant presence in the electric vehicle (EV) industry.
What Happened: Huawei&#8217;s Intelligent Automotive Solution (IAS) business unit CEO, Jin Yuzhi, announced the news ahead of the Beijing auto show, Reuters reported on Wednesday. Qiankun, which symbolizes a blend of heaven and the Kunlun Mountains, is set to provide self-driving systems that cover the driving chassis, audio, and driver&#8217;s seat.
Huawei&#8217;s ambitious plan to revolutionize intelligent driving by 2024 is backed by Jin&#8217;s prediction that &#8220;2024 will be the first year for mass commercialization of smart driving and the cumulative number of cars on road equipped with the Huawei self-driving system will top 500,000 by the year-end.&#8221; 
He also projected that over 10 car models using Huawei's Qiankun system would be on the market within a year.
See Also: <a href="https://www.benzinga.com/news/24/04/38356025/democrats-lost-a-whole-lot-of-love-for-tesla-cars-last-fall-after-elon-musks-erratic-posts-on-x-surv?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Democrats Lost A Whole Lot Of Love For Tesla Cars Last Fall After Elon Musk&#8217;s Erratic Posts On X, Survey Reveals</a> 
Why It Matters: Earlier this year, Huawei announced its plan to <a href="https://www.benzinga.com/government/24/02/37008726/tesla-faces-new-challenger-huawei-plans-100k-superfast-ev-charging-stations-in-china-by-2024">install 100,000 superfast EV charging</a> stations across China by 2024, intensifying competition in the auto market and potentially challenging Tesla.
Despite <a href="https://www.benzinga.com/news/24/03/38012562/huawei-begins-mass-deliveries-of-luxeed-s7-electric-sedan-touted-as-rival-to-tesla-model-s-in-variou">production issues and semiconductor shortages</a>, Huawei has reportedly commenced mass deliveries of the Luxeed S7 electric sedan, a product of its collaboration with Chery Auto.
However, the development also comes on the heels of Huawei&#8217;s ambitious AI chip developments <a href="https://www.benzinga.com/government/24/03/37843852/huaweis-ambitious-ai-chip-developments-trigger-potential-us-sanctions-on-chinese-firms">triggering potential U.S. sanctions on Chinese firms</a>. The Biden administration is considering adding several Chinese semiconductor firms associated with Huawei to the blacklist. This move could escalate the U.S. efforts to contain China's aspirations in AI and semiconductor technology, adding more pressure on Huawei.
Since launching its smart car unit in 2019, Huawei has unveiled seven EV models in collaboration with Chinese automakers, and these models are reportedly selling well.
Last week, Tesla CEO Elon Musk hinted at the imminent launch of the company's<a href="https://www.benzinga.com/news/24/04/38345787/elon-musk-reacts-as-chinese-tesla-owner-says-i-look-forward-to-tesla-fsd-entering-china-possible-ver"> Full Self-Driving (FSD) feature in China.</a> The company also <a href="https://www.benzinga.com/news/24/04/38230953/elon-musks-tesla-slashes-price-of-full-self-driving-package-by-half-now-99month" target="_blank" rel="noreferrer noopener">slashed the price</a> of its FSD package by half, making it more accessible to a wider customer base.
Read Next: <a href="https://www.benzinga.com/news/24/04/38373389/tesla-ceo-elon-musk-takes-swipe-at-waymo-says-cybertruck-might-be-needed-for-robotaxis-in-san-franci?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Takes Swipe At Waymo, Says Cybertruck Might Be Needed For Robotaxis In San Francisco</a>
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Tech

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Threat For Tesla? Apple's Chinese Rival Huawei Launches New Software For Intelligent Driving

Guidance

Live On CNBC Boeing CEO Says We Think Regulators Will Approve Of Our Plans To Improve Quality Control

Energy Fuels (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#AMEX">UUUU</a>), a Lakewood, Colorado-based uranium and critical minerals producer, agreed to acquire Australian junior miner Base Resources (OTCPK: BSRUF).
The transaction, announced Sunday, April 21, is valued at $240 million. 
&#8220;The acquisition of Base Resources and the Toliara project represents a monumental leap forward for the company as we continue to execute on a truly revolutionary REE, uranium, and critical mineral combined strategy,&#8221; <a href="https://www.energyfuels.com/2024-04-21-Energy-Fuels-Announces-Agreement-for-Transformational-Acquisition-of-Base-Resources,-Creating-a-Global-Leader-in-Critical-Minerals-Production-with-a-Focus-on-Uranium,-Rare-Earth-Elements-and-Heavy-Mineral-Sands">said</a> Energy Fuels CEO Mark Chalmers, explaining that the company has been innovating new methods to produce critical minerals, leveraging its uranium processing expertise and infrastructure to develop a U.S.-centric rare earth oxide (REE) supply chain.
The key asset in this acquisition is the Toliara project in southwest Madagascar. 
This project is a large-scale mineral deposit. It&#8217;s rich in ilmenite, zircon and monazite, a key source of rare earth elements (REE). These elements are crucial components in electric vehicles, wind turbines, and other clean energy applications. It is also used in national defense sectors.
Once operational, the monazite from Toliara will serve as a significant source of feedstock for Energy Fuels&#8217; White Mesa mill in Utah. It will provide a projected average of 21,800 tons of rare earth-bearing monazite per year at a cost expected to be competitive with other global REE producers, including those in China.
See Also: <a href="https://www.benzinga.com/m-a/24/04/38380999/exclusive-why-this-uranium-bull-market-is-different-weve-really-got-to-start-developing-mines-says-m">EXCLUSIVE <a href="https://www.benzinga.com/m-a/24/04/38380999/exclusive-why-this-uranium-bull-market-is-different-weve-really-got-to-start-developing-mines-says-m">—</a> Why This Uranium Bull Market Is Different — &#8216;We&#8217;ve Really Got To Start Developing Mines,&#8217; Says Madison Metals CEO</a>
The Base Resources acquisition comes as uranium trades at multi-year highs, reaching $106 per pound in February. This trend has driven the <a href="https://www.benzinga.com/m-a/24/03/37459629/uranium-surge-revives-old-mines-sparks-mergers-across-sector">activation of dormant assets</a>. It allowed producers like Energy Fuels to capitalize on the resurging demand for nuclear power.
Base Resources shareholders will receive 0.0260 of an Energy Fuels common share plus a dividend of $0.042 for each share held, totaling roughly 20 cents per share. This premium represents a 188% increase from Base Resources&#8217; last closing price and a 173% premium to the 20-day volume-weighted average price (VWAP) of Base Resources shares.
The transaction is expected to close in the third quarter of 2024. Regulatory approval is pending.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Now Read: <a href="https://www.benzinga.com/news/24/04/38390383/copper-prices-approach-2-year-highs-whats-behind-analysts-12-000-price-prediction-for-2026">Copper Prices Approach 2-Year Highs: What&#8217;s Behind Analyst&#8217;s $12,000 Price Prediction For 2026?</a>
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Commodities

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BSRUF

UUUU

Energy Fuels Secures Critical Mineral Supply Chain Via $240M Base Resources Deal

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4147526-1&amp;h=4007784264&amp;u=https%3A%2F%2Fwww.autodesk.com%2F&amp;a=Autodesk%2C+Inc.">Autodesk, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) today announced an interoperability agreement with the <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4147526-1&amp;h=618183230&amp;u=https%3A%2F%2Fwww.nemetschek.com%2Fen&amp;a=Nemetschek+Group">Nemetschek Group</a> to improve open collaboration and efficiencies for the architecture, engineering, construction and operations (AECO) and media and entertainment (M&amp;E) industries. The agreement will enhance existing interoperability between the two companies' industry cloud and desktop products and improve the fluent exchange of information across solutions.
Whether constructing buildings or highways or producing media assets, working with cloud-connected tools powers automation and unlocks valuable insights for better decisions at every stage of a project. But too often, people, processes, and data are siloed due to software and file incompatibility, resulting in inefficient workflows.
"Autodesk is firmly committed to building open, integrated, cloud-powered solutions for our customers that unlock data and connect project teams," said Amy Bunszel, Executive Vice President, Architecture, Engineering and Construction Solutions at Autodesk. "Extending Autodesk's cloud and desktop solutions with Nemetschek interoperability is a huge step towards optimizing our customers' workflows and helping them generate better project outcomes."&nbsp;
Optimizing workflows across Autodesk and Nemetschek will allow data to flow more easily from one cloud platform or desktop application to another so details get to the right people at the right time. The interoperability is powered by&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4147526-1&amp;h=1787006119&amp;u=https%3A%2F%2Faps.autodesk.com%2F&amp;a=Autodesk+Platform+Services+(APS)">Autodesk Platform Services (APS)</a>, a set of open Application Programming Interfaces (APIs) and web services, that enables <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4147526-1&amp;h=53431963&amp;u=http%3A%2F%2Fwww.nemetschek-dtwin.com%2F&amp;a=Nemetschek%27s+dTwin">Nemetschek's dTwin</a>, Bluebeam Cloud, BIMcloud, and BIMplus to connect to Autodesk's industry clouds—Forma, Fusion, and Flow—and design solutions. This will enable customers and partners to connect their data and capabilities across the respective solutions so users can focus on optimizing their projects with automation, AI and insight.
This interoperability agreement demonstrates an ongoing commitment to integration and open industry standards, such as <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4147526-1&amp;h=769414237&amp;u=https%3A%2F%2Fwww.buildingsmart.org%2Fabout%2Fopenbim%2F&amp;a=openBIM+by+buildingSMART">openBIM by buildingSMART</a>, which extends the benefits of Building Information Modeling (BIM) by improving the accessibility, usability, management and sustainability of digital data in the built asset industry. By creating a silo-free ecosystem to collaborate, teams can work from the same digital model on end-to-end workflows.
"Supporting openBIM, interoperability, and open industry standards is deeply rooted in the Nemetschek Group's DNA," said Marc Nézet, Chief Strategy Officer of the Nemetschek Group. "Our interoperability agreement with Autodesk is a historic move to give customers the ability to work in any project environment and with any software ecosystem, ultimately resulting in a better built world."
Under the terms of the agreement, Autodesk and the Nemetschek Group will provide mutual access to their APIs and industry clouds, thereby giving developer access to Autodesk solutions including AutoCAD, Revit, 3ds Max and Maya, as well as <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4147526-1&amp;h=2766729260&amp;u=https%3A%2F%2Fwww.autodesk.com%2Fproducts%2Fforma%2F&amp;a=Autodesk+Forma">Autodesk Forma</a> and <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4147526-1&amp;h=322272359&amp;u=https%3A%2F%2Fconstruction.autodesk.com%2F&amp;a=Autodesk+Construction+Cloud">Autodesk Construction Cloud</a>, similarly to Nemetschek solutions including Allplan, Archicad, Bluebeam, Maxon One, Vectorworks as well as Nemetschek's relevant cloud platforms. This will enable the two companies to improve upon existing data exchanges and open new data-centric workflows that span disciplines and industries.