March 2023 - Page 6 of 7

March 3, 2023

Grand Rapids-based payroll software firm acquired by Scottish business services company

GRAND RAPIDS — Payroll software business Dominion Programs Inc. has been obtained by a personal fairness-backed business enterprise solutions company in Scotland.&#13

Dominion and AAB have partnered for the previous 5 a long time, with Grand Rapids-dependent Dominion supporting AAB’s worldwide payroll progress designs. Dominion will now work as AAB Payroll Inc., successfully right away, and will be led by Dominion President Chris Andree.

Chris Andree.
LINKEDIN

“It’s exciting to be a aspect of the AAB journey, specially in regard to firmly developing and rising payroll and advisory operations in the United States,” Andree reported in a statement. “Having labored straight with the Payroll and Work Taxes staff over the previous five decades, I have witnessed the immediate expansion in equally scope of assistance and geography very first-hand which undoubtedly is underpinned by a people today initially society and motivation to customer service.”&#13

Conditions of the offer have been undisclosed.&#13

Dominion Methods gives totally integrated, cloud-based mostly software with customizable payroll and human means solutions. It supports a array of industries, together with agriculture, motor vehicle dealerships, wellbeing treatment and foods and beverage.&#13

Previously recognized as Anderson Anderson & Brown and a supplier of vital organization expert services this sort of as accounting, auditing and tax assistance via tech-enabled platforms, AAB has professional quick advancement considering the fact that securing an expenditure from London, U.K.-dependent August Equity in October 2021. Dominion was AAB’s seventh acquisition in the past 16 months.&#13

The deal expands AAB’s get to and is the company’s first acquisition in the U.S., according to a report in Scottish newspaper Push and Journal, which notes AAB’s payroll and world wide mobility team has additional than 100 employees at workplaces in the U.K., the U.S. and Eire. AAB reportedly has yearly earnings of about 65 million lbs ., or about $77.6 million.

AAB Partner and U.S. Tax Exercise Lead Douglas Michael claimed the business is “delighted” to deliver on Dominion.&#13

“We have viewed an growing range of organizations growing to the U.S. above the previous couple several years from the U.K. from start off-ups to recognized organizations demanding our specialist aid in U.S. payroll,” Michael mentioned in a assertion. “Remaining compliant with cross-border payroll has hardly ever been much more complicated and our enhanced group will be ready to assistance any enterprise or individual working in the US.”

March 3, 2023

MN bill would require personal finance class for high schoolers

The monthly bill was introduced to senators during the Education Coverage Committee assembly Wednesday afternoon.

SAINT PAUL, Minn. — There is certainly an appealing plan floating close to the state capitol, necessitating all large faculty college students in Minnesota to get a own finance class just before graduation.

That idea was offered two times for the duration of the Senate Education and learning Policy Committee conference Wednesday afternoon.

“I imagine this is a best precedence. I hope you fellas can enable me work on this,” Senator Abundant Draheim (R-Madison Lake) claimed whilst presenting his monthly bill.

Draheim’s monthly bill would have to have all significant college pupils to take an on-line money literacy course in buy to graduate superior faculty.

Minutes later on, in the identical committee meeting, Senator Steve Cwodzinski (DFL-Eden Prairie) introduced basically the same strategy.

“The only distinction in between our costs is his is on line, mine is in individual,” Cwodzinski reported although presenting his model of the bill.

According to the Economical Literacy Council of Minnesota, 17 states have equivalent necessities in area.

In this article in Minnesota, the plan has been floating all-around for decades, but it has not experienced adequate momentum to get handed into law.

Stephanie Musgrove functions with BestPrep and the Leap$tart Coalition of Minnesota, two groups that operate immediately with teens and youthful older people to train them the essentials of individual finance.

She is satisfied to see that lawmakers are getting an desire in the economic training of higher faculty students.

“Learners have an appetite for economical literacy,” Musgrove states.

“We want them to realize how to price range for lease, or an apartment, or relocating in with another person. Or, you’ve received your 1st position and your initial paycheck — how do you study all those quantities?”

Musgrove claims some faculty districts are also instructing these classes in high university.

“But it is not automatically needed. There are some that require their pupils just by the faculty and by means of the district’s coverage that students get a particular finance course, but generally it is really an elective.”

So, most students usually are not taking the course, or don’t have the possibility.

In accordance to the Financial Literacy Council of Minnesota, about 7{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of higher school students are having these classes.

“I believe it’s genuinely significant, simple information,” Anita Drentlaw claims.

Drentlaw is the CEO of New Market place Financial institution.

She claims a lot of group financial institutions like hers are working inside of the schools to train young ones about money.

“I imagine it is eye-opening for kids simply because it is really not typically talked about as a lot as it ought to be,” Drentlaw states.

“It’s also eye-opening for us sometimes when we communicate about even one thing like what a financial institution is and how they work. Youngsters occasionally do not comprehend why they are so diverse from issues like Paypal and Venmo.”

Drentlaw also sees firsthand what can happen when these children mature up to grow to be adults and don’t have a simple knowing of concepts like personal debt, curiosity and financial loans.

“Any person who would like to get their quite initially automobile personal loan for instance, they could possibly be coming out of university and have no credit or it’s possible they didn’t notice that spending your expenditures late would impact their credit rating so negatively,” Drentlaw stated.

She’s all for the thought of requiring a finance class for all college students.

Quite a few of the other senators in the Education Coverage Committee also consider it truly is a very good concept, but some are concerned about how this new prerequisite will be carried out.

Some of the concerns consist of irrespective of whether the lessons need to be taught in-person or on the net, and who ought to educate them.

Senators were being also curious to see no matter whether faculty districts would need further funding and assets to insert these courses to their curriculum.

Both of those Senators Draheim and Cwodzinski say they are ready to tackle these concerns as they perform alongside one another to high-quality-tune their expenditures, which could conclusion up merging jointly into one detailed invoice.

“I appear ahead to doing the job with Senator Draheim and all of the testifiers and finding this completed this session, if attainable,” Cwodzinski claims.

The two senators are hoping this bill will be bundled in this year’s omnibus monthly bill.

View the most up-to-date political coverage from the Land of 10,000 Lakes in our YouTube playlist:

https://www.youtube.com/enjoy?v=videoseries

March 2, 2023

Opinion: Who’s stopping the government from giving Americans relief from crushing student loans

Editor’s Note: Jill Filipovic is a journalist based mostly in New York and author of the ebook “Ok Boomer, Let’s Communicate: How My Era Received Still left Behind.” Adhere to her on Twitter. The views expressed in this commentary are entirely her personal. Look at far more belief on CNN.

CNN
—

President Joe Biden is hoping to give the thousands and thousands of Us residents saddled with college student financial loan debt some aid. Republicans, and the Supreme Court docket, may possibly not allow him.

Immediately after Biden took business final calendar year, his administration declared a strategy to discharge hundreds of thousands and thousands of pounds in student loans in a plan that would forgive as substantially as $20,000 for every borrower. Biden did this thanks to the Increased Schooling Reduction Alternatives for Learners Act of 2003, or the HEROES Act, which lets the secretary of education to modify or get rid of scholar personal debt in the context of “a war or other military procedure or national emergency.”

A pandemic is clearly a nationwide emergency, a position previous President Donald Trump also took when he paused university student financial debt payments in 2020. Biden expanded on that, placing loans again into compensation starting in July, but also placing ahead a prepare to forgive relatively than just pause at minimum some debt.

Several of the extra than 43 million People saddled with some $1.75 trillion dollars in pupil debt ended up thrilled. Numerous Republicans cried foul.

6 Republican governors and two debt holders filed lawsuits hard the plan. Their argument is basically that this method is further than the scope of Biden’s power he’s making use of Covid as a pretext, they say, for a law that ought to be authorised by Congress. On this position – and in a great deal of the situation – the Court’s conservative justices appeared sympathetic during Tuesday’s oral arguments in the two issues to Biden’s system. The situation “presents extraordinarily serious critical issues about the purpose of Congress,” Main Justice John Roberts explained, incorporating, “We take pretty significantly the strategy of separation of powers and that ability really should be divided to reduce its abuse.”

He has a point: The US authorities was without a doubt established up to different and balance powers, and to steer clear of unilateral government action – the Founders gave us a president, not a king.

But Congress also gave us the HEROES Act, which explicitly provides the president the authority to cancel student financial debt in the circumstance of a nationwide unexpected emergency. The pandemic was plainly a nationwide unexpected emergency. There are often a large amount of “really confusing” statutes that appear just before the Court docket, Justice Elena Kagan said, and “this is not just one.” Clearly, Congress supposed for the president to have the electricity to waive pupil debt in a national unexpected emergency can it definitely be the circumstance that the president was offered that power, but he’s not permitted to use it devoid of Congress weighing in?

The conservative judges feel to say certainly.

This is a situation that may slide apart right before the judges even get to the actual meat of it, many thanks to standing challenges with the plaintiffs. In order for a court to hear a case like this one particular, the men and women or entities suing have to have experienced some real harm – they simply cannot just dislike a law or coverage, they have to be negatively impacted by it. The Courtroom will initially have to take into account if the Republican governors who are suing have satisfied the threshold to sue in the initial area.

Whichever the result, this case will be a political acquire for the Biden administration. The optics are clear: Democrats want to forgive your college student financial loans Republicans are prepared to go all the way to the Supreme Courtroom to quit them.

If the Republican governors earn, however, and the university student loan forgiveness software is scrapped, the serious losers will be indebted former learners, not the GOP.

Pupil personal loan personal debt is crushing, and it has exploded in the previous few a long time. According to the Education Knowledge Initiative, even though the normal borrower usually takes out $30,000 in financial loans to shell out for a bachelor’s diploma, the average federal debt owed is extra than $37,500, and the ordinary non-public pupil mortgage personal debt is a whopping $54,921.

And all credit card debt is not made equal. Learners who choose out loans to get, say, enterprise degrees from top rated universities obtain them selves in a extremely different situation from learners who attend predatory for-profit establishments and wind up with degrees that are not truly worth all that a lot – if they conclusion up with levels at all. A terrific several students who take out student loans do not graduate, leaving them in the worst of all positions: In personal debt, but with no degree to clearly show for it.

These pupils – those who are indebted but really don’t have a diploma – are normally susceptible in numerous other strategies. Debtors who default on their loans are a lot much more probable than learners who graduate to be initially-technology higher education learners, to be Black or Hispanic, to have attended a for-gain faculty, and to have under no circumstances done their diploma.

Though Biden’s mortgage forgiveness system would advantage numerous men and women with scholar loan debt – myself incorporated – it is the debtors who in no way graduated or who went to predatory institutions that are at the moment becoming damage the worst, and would see the greatest reward by getting a chunk of their financial debt knocked off.

Struggling with pupil financial debt – or worse, defaulting and looking at your total monetary lifestyle consider a enormous strike – is part of what keeps so many Individuals living in a condition of precarity. Millennials, the oldest of whom are now in our 40s, have been notoriously unwilling to have little ones, late to marry, and unable to conserve for residences. Pupil debt isn’t the only driver of these shifts – substantially of it is cultural as substantially as financial – but starting your grownup everyday living owing tens or hundreds of hundreds of bucks does not exactly generate a steady foundation on which to develop a existence.

To add insult to injuries, an 18-12 months-aged who used four decades racking up credit rating card credit card debt acquiring luxury cars, putting on designer apparel and likely on unique vacations can discharge that financial debt in bankruptcy. An 18-calendar year-previous who signed a $100,000 mortgage arrangement at 7.5{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} fascination because it was their only way to pay out for college are unable to.

The Biden pupil financial loan forgiveness system is considerably from ideal. It does not do practically enough to be certain that we are not heading to be ideal again listed here a couple yrs down the street. It is arguably not generous sufficient to the most in have to have and way too generous to the white-collar experts who can afford to shell out off their financial loans. And liberals need to have authentic concerns about government overreach.

But we really should be involved about overreach from a conservative Supreme Court docket, as well, as effectively as a college student loan technique that destinations significant economic burdens on youthful individuals as quickly as they embark on their grownup life.

The Republican talking level on this situation is that Biden’s system is a enormous taxpayer giveaway, and that he cunningly employed Covid as an justification to thrust by a coverage Congress would have in no way authorized. So it is truly worth asking Republican politicians: Why won’t Congress act to relieve scholar financial loan financial debt — even if it usually means producing the uber-wealthy and huge firms pay out much more in taxes — and strengthen the economic and individual futures of so quite a few youthful people?

The GOP opposes Biden’s college student personal debt reduction prepare, and associates of the party are so from it that they are willing to choose it all the way to the Supreme Court. Voters like me, who even now have significant college student financial debt that has very a great deal impacted my economical wellbeing and curtailed my means to help you save for minimal points like at any time becoming ready to retire, want solutions from the GOP: If you are prepared to struggle college student mortgage forgiveness in front of the Supreme Court, why are not you eager to battle for the tens of millions of Us citizens who are currently being crushed by the credit card debt we necessary to choose on to get our levels?

March 2, 2023

Desktop Metal Announces Fourth Quarter and Full Year 2022 Financial Results and Initiates 2023 Guidance

Record fourth quarter revenue of $60.6 million, up 6.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} from the fourth quarter of 2021
Record full year 2022 revenue of $209.0 million, up 86.0{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} from 2021
Cost reduction initiatives on-track to deliver $100 million in aggregate, annualized cost savings in 2023, prioritizing path to profitability
Initiates full year 2023 revenue guidance of between $210 and $260 million

BOSTON, March 01, 2023–(BUSINESS WIRE)–Desktop Metal, Inc. (NYSE: DM) today announced financial results for the fourth quarter and full year ended December 31, 2022.

“Desktop Metal delivered record revenue for fourth quarter and full year 2022, fueled by our differentiated portfolio of AM 2.0 mass production solutions, our strong market position, and the team’s solid execution amidst an unsteady macro environment,” said Ric Fulop, Founder and CEO of Desktop Metal. “We also took actions to streamline the business and expanded our cost reduction plans to $100 million in annualized cost savings to prioritize our path to profitability and position the business for long-term growth. As a result, we enter 2023 a stronger, more resilient company focused on driving another year of revenue growth at scale, delivering on our cost reduction measures, and dramatically improving adjusted EBITDA and cash flow, in order to capitalize on the next stage of secular growth in the additive manufacturing market.”

Recent Business Highlights:

Continued and expanded the cost reduction plan announced in 2022 to add an additional $50 million in annualized savings after successfully completing $50 million in annualized savings in 2022. Total combined $100 million in annualized cost savings are on-track in order to reduce expense structure, drive margin expansion, and prioritize path to profitability
Announced strategic collaboration with Align Technology to accelerate adoption of digital dentistry in the $30 billion annual dental parts market. Align’s market-leading iTero intraoral scanners will be offered as a seamless managed service to dentists in a subscription model with recurring revenue, enabling a gateway for a connected suite of digital dentistry solutions with a workflow backed by Desktop Labs’ experienced network of digitized dental laboratories and premium Desktop Health 3D printers and materials
Commenced shipments of Production System™ P-50 in 2022 including continued traction with automotive, industrial, and other major end markets. Recently signed master supply agreement with one of the largest consumer electronics companies in the world
Launched the all-new S-Max Flex^® for affordable and scalable digital sand casting, leveraging Single Pass Jetting™ technology
Unveiled FreeFoam, a revolutionary, expandable 3D printable resin designed for volume production of foam parts
Launched Figur G15, the first commercial platform of its kind to shape standard sheet metal on demand using patent-pending Digital Sheet Forming (DSF) technology
Installations of additive manufacturing systems for metal parts surpassed 1,100 units including some of largest production deployments in additive manufacturing

Fourth Quarter 2022 Financial Highlights:

Revenue of $60.6 million, up 6.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} from the fourth quarter of 2021
GAAP gross margin of 13.7{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}; non-GAAP gross margin of 24.3{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}, a sequential improvement of 440 basis points from the third quarter of 2022
GAAP net loss of $312.4 million, including $269.3 million of goodwill impairment and $10.1 million of amortization of acquired intangible assets; non-GAAP net loss of $24.0 million
Adjusted EBITDA of $(21.1) million

Full Year 2022 Financial Highlights:

Revenue of $209.0 million, up 86.0{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} from 2021
Revenue contribution of 24{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} from high-margin consumables, services, and subscription
GAAP gross margin of 7.2{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}; non-GAAP gross margin of 22.5{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}
GAAP net loss of $740.3 million, including $498.8 million of goodwill impairment and $38.7 million of amortization of acquired intangible assets; non-GAAP net loss of $130.7 million
Adjusted EBITDA of $(118.4) million
Cash, cash equivalents, and short-term investments of $184.5 million as of December 31, 2022

Outlook for Full Year 2023:

Revenue expectation of between $210 to $260 million for full year 2023
Adjusted EBITDA expectation of between $(50) to $(25) million for full year 2023, with expectation to achieve Adjusted EBITDA breakeven before year end 2023

Desktop Metal has not provided a reconciliation of its Adjusted EBITDA outlook to net income because estimates of all of the reconciling items cannot be provided without unreasonable efforts. See “Non-GAAP Financial Information.”

Conference Call Information:

Desktop Metal will host a conference call on Wednesday, March 1, 2023 at 4:30 p.m. ET to discuss fourth quarter and full year 2022 results. Participants may access the call at 1-877-407-4018, international callers may use 1-201-689-8471, and request to join the Desktop Metal financial results conference call. A simultaneous webcast of the conference call and the accompanying summary presentation may be accessed online at the Events & Presentations section of https://ir.desktopmetal.com. A replay will be available shortly after the conclusion of the conference call at the same website.

About Desktop Metal:

Desktop Metal (NYSE:DM) is driving Additive Manufacturing 2.0, a new era of on-demand, digital mass production of industrial, medical, and consumer products. Our innovative 3D printers, materials, and software deliver the speed, cost, and part quality required for this transformation. We’re the original inventors and world leaders of the 3D printing methods we believe will empower this shift, binder jetting and digital light processing. Today, our systems print metal, polymer, sand and other ceramics, as well as foam and recycled wood. Manufacturers use our technology worldwide to save time and money, reduce waste, increase flexibility, and produce designs that solve the world’s toughest problems and enable once-impossible innovations. Learn more about Desktop Metal and our #TeamDM brands at www.desktopmetal.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in these communications, including statements regarding Desktop Metal’s future results of operations and financial position, financial targets, business strategy, plans and objectives for future operations, are forward-looking statements. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to risks associated with the integration of the business and operations of acquired businesses, our ability to realize the benefits from cost saving measures, and supply and logistics disruptions, including shortages and delays. For more information about risks and uncertainties that may impact Desktop Metal’s business, financial condition, results of operations and prospects generally, please refer to Desktop Metal’s reports filed with the SEC, including without limitation the “Risk Factors” and/or other information included in the Form 10-K filed with the SEC on March 1, 2023, and such other reports as Desktop Metal has filed or may file with the SEC from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal, Inc. assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

DESKTOP METAL, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts)

	December 31,
	2022			2021
Assets
Current assets:
Cash and cash equivalents	$	76,291		$	65,017
Current portion of restricted cash		4,510			2,129
Short‑term investments		108,243			204,569
Accounts receivable		38,481			46,687
Inventory		91,736			65,399
Prepaid expenses and other current assets		17,155			18,208
Total current assets		336,416			402,009
Restricted cash, net of current portion		1,112			1,112
Property and equipment, net		56,271			58,710
Goodwill		112,955			639,301
Intangible assets, net		219,830			261,984
Other noncurrent assets		27,763			25,480
Total Assets	$	754,347		$	1,388,596
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	25,105		$	31,558
Customer deposits		11,526			14,137
Current portion of lease liability		5,730			5,527
Accrued expenses and other current liabilities		26,723			33,829
Current portion of deferred revenue		13,719			18,189
Current portion of long‑term debt, net of deferred financing costs		584			825
Total current liabilities		83,387			104,065
Long-term debt, net of current portion		311			548
Convertible notes		111,834			—
Contingent consideration, net of current portion		—			4,183
Lease liability, net of current portion		17,860			13,077
Deferred revenue, net of current portion		3,664			4,508
Deferred tax liability		8,430			10,695
Other noncurrent liabilities		1,359			3,170
Total liabilities		226,845			140,246
Commitments and Contingencies (Note 17)
Stockholders’ Equity
Preferred Stock, $0.0001 par value—authorized, 50,000,000 shares; no shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively		—			—
Common Stock, $0.0001 par value—500,000,000 shares authorized; 318,235,106 and 311,737,858 shares issued at December 31, 2022 and December 31, 2021, respectively, 318,133,434 and 311,473,950 shares outstanding at December 31, 2022 and December 31, 2021, respectively		32			31
Additional paid‑in capital		1,874,792			1,823,344
Accumulated deficit		(1,308,954	)		(568,611	)
Accumulated other comprehensive loss		(38,368	)		(6,414	)
Total Stockholders’ Equity		527,502			1,248,350
Total Liabilities and Stockholders’ Equity	$	754,347		$	1,388,596

DESKTOP METAL, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts)

	Years Ended December 31,
	2022			2021			2020
Revenues
Products	$	190,248		$	105,994		$	13,718
Services		18,775			6,414			2,752
Total revenues		209,023			112,408			16,470
Cost of sales
Products		178,952			87,450			26,945
Services		15,000			6,665			4,574
Total cost of sales		193,952			94,115			31,519
Gross profit (loss)		15,071			18,293			(15,049	)
Operating expenses
Research and development		96,878			68,131			43,136
Sales and marketing		68,091			47,995			13,136
General and administrative		83,065			78,041			20,734
In-process research and development assets acquired		—			25,581			—
Goodwill impairment		498,800			—			—
Total operating expenses		746,834			219,748			77,006
Loss from operations		(731,763	)		(201,455	)		(92,055	)
Change in fair value of warrant liability		—			(56,576	)		56,417
Interest expense		(1,743	)		(149	)		(328	)
Interest and other (expense) income, net		(8,335	)		(11,822	)		1,011
Loss before income taxes		(741,841	)		(270,002	)		(34,955	)
Income tax benefit		1,498			29,668			940
Net loss	$	(740,343	)	$	(240,334	)	$	(34,015	)
Net loss per share—basic and diluted	$	(2.35	)	$	(0.92	)	$	(0.22	)
Weighted average shares outstanding, basic and diluted		314,817			260,770			157,906

DESKTOP METAL, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in thousands)

	Years Ended December 31,
	2022			2021			2020
Net loss	$	(740,343	)	$	(240,334	)	$	(34,015	)
Other comprehensive (loss) income, net of taxes:
Unrealized gain (loss) on available-for-sale marketable securities, net		(290	)		(40	)		(84	)
Foreign currency translation adjustment		(31,664	)		(6,365	)		—
Total comprehensive (loss) income, net of taxes of $0	$	(772,297	)	$	(246,739	)	$	(34,099	)

DESKTOP METAL, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (in thousands, except share amounts)

													Accumulated
													Other
								Additional					Comprehensive		Total
	Legacy Convertible Preferred Stock				Common Stock			Paid‑in		Accumulated			(Loss)		Stockholders’
	Shares		Amount		Shares	Amount		Capital		Deficit			Income		Equity

BALANCE—January 1, 2020	100,038,109		$	436,553	26,813,113	$	3	$	16,722	$	(294,262	)	$	75	$	(277,462	)
Retroactive application of recapitalization (Note 1)	(100,038,109	)

March 2, 2023

NEWTEK Business Services (NEWT) Declares $0.18 Dividend

NEWTEK Business Services said on February 27, 2023 that its board of directors declared a regular
quarterly dividend of $0.18 per share ($0.72 annualized).
Shareholders of record as of April 4, 2023
will receive the payment on April 14, 2023.
Previously, the company paid $0.70 per share.

At the current share price of $15.31 / share,
the stock’s dividend yield is 4.70{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

Looking back five years and taking a sample every week, the average dividend yield has been
10.62{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550},
the lowest has been 5.50{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550},
and the highest has been 22.07{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.
The standard deviation of yields is 3.21 (n=236).

The current dividend yield is
1.84 standard deviations

below
the historical average.

Additionally, the company’s dividend payout ratio is 2.08.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.28{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550},
demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 16.59{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} Upside

As of March 1, 2023,
the average one-year price target for NEWTEK Business Services is $17.85.
The forecasts range from a low of $16.16 to a high of $19.95.
The average price target represents an increase of 16.59{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} from its latest reported closing price of $15.31.

The projected annual revenue for NEWTEK Business Services
is $121MM, an increase of 40.45{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

The projected annual EPS
is $3.03, an increase of 126.07{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

What is the Fund Sentiment?

There are 83 funds or institutions reporting positions in NEWTEK Business Services.

This is a decrease
of
3
owner(s) or 3.49{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} in the last quarter.

Average portfolio weight of all funds dedicated to NEWT is 0.12{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550},
an increase
of 8.37{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

Total shares owned by institutions increased
in the last three months by 20.20{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} to 5,504K shares.

The put/call ratio of NEWT is 1.27, indicating a

bearish
outlook.

What are large shareholders doing?

Royce & Associates
holds 1,021K shares

representing 4.18{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} ownership of the company.

In it’s prior filing, the firm reported owning 446K shares, representing
an increase
of 56.28{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

The firm

increased

its portfolio allocation in NEWT by 110.48{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} over the last quarter.

Invesco
holds 684K shares

representing 2.80{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} ownership of the company.

In it’s prior filing, the firm reported owning 682K shares, representing
an increase
of 0.28{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

The firm

decreased

its portfolio allocation in NEWT by 99.99{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} over the last quarter.

KBWD – Invesco KBW High Dividend Yield Financial ETF
holds 665K shares

representing 2.72{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} ownership of the company.

In it’s prior filing, the firm reported owning 679K shares, representing
a decrease
of 2.13{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

The firm

decreased

its portfolio allocation in NEWT by 3.48{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} over the last quarter.

RYTRX – Royce Total Return Fund Investment Class
holds 443K shares

representing 1.81{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} ownership of the company.

In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 100.00{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

Susquehanna International Group, Llp
holds 400K shares

representing 1.64{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} ownership of the company.

In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 100.00{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

Newtek Business Services Background Information
(This description is provided by the company.)

Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business (‘SMB’) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.
Newtek’s and its portfolio companies’ products and services include: Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.
Newtek® and Your Business Solutions Company®, are registered trademarks of Newtek Business Services Corp.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

March 2, 2023

Vandalia-Butler financial plan submitted to Ohio Department of Education

In spring 2022, the district available an early severance incentive plan as a value-savings evaluate. Sixteen personnel participated in the system. These wage price discounts ended up factored into the 5-12 months forecast.

The district anticipates at the very least a few extra licensed retirements in 2024. Two of individuals positions will be replaced, and one particular will go unfilled, according to the monetary system.

The board now contracts specific education by way of a bought support agreement with the Montgomery County Educational Provider Centre and Miami County Educational Support Center. According to the economic plan, district officials have established that mandated specifications could be fulfilled with the reduction of eight instructing assistants, a few tutors, and two intense need device assistants.

In addition, the approach states reduced pupil curiosity and an lack of ability to utilize an American Signal Language instructor would help the district to discontinue ASL as a acquired company.

Strategies outlined to address a projected deficit equilibrium in 2025 involves additional retirements and reallocation of services. The board anticipates two retirements in 2025, with one to stay unfilled, as effectively as the retirement of an unspecified administrator.

The district has partnered with G2G Answers considering the fact that 2018 for college basic safety officer expert services. This system delivers a college safety officer in each and every of the district’s 6 structures for all college student times of the school yr. According to the prepare, the district is doing work to bring the program in-property with the expiration of the latest G2G deal in August 2024.

“Net cost savings will be realized through overhead reductions by not having to pay an outside the house seller, and income and reward restructuring when paid out as a direct staff of the district,” the prepare states.

The district also ideas to bring technologies services in-house with the June 2024 expiration of its contract with Edison Lightworks LLC. This improve is projected to produce an yearly internet financial savings of $50,000 in reduced overhead reductions by not paying an outside vendor.

Any expense-conserving/reduction items must get person board acceptance prior to implementation.

“Depending on the May perhaps 2023 ballot outcome, college student requires, legislation, budgetary necessities and anticipated or mysterious staffing changes, reductions may possibly vary from individuals shown to produce the exact or increased savings,” the prepare states.