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Nanophase Technologies Corporation (NANX)

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3.2400-0.0500 (-1.52%)
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Neutralpattern detected
Previous Close3.2900
Open3.2600
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range3.1100 - 3.2600
52 Week Range0.6000 - 3.3300
Volume29,969
Avg. Volume44,072
Market Cap157.146M
Beta (5Y Monthly)1.26
PE Ratio (TTM)64.80
EPS (TTM)0.0500
Earnings DateApr 27, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est1.50
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    TSE: What does Argus have to say about TSE?TRINSEO PLC has an Investment Rating of HOLD; a target price of $58.000000; an Industry Subrating of High; a Management Subrating of Medium; a Safety Subrating of Medium; a Financial Strength Subrating of Medium; a Growth Subrating of Medium; and a Value Subrating of Low.
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    11 days agoArgus Research
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  • GlobeNewswire

    Nanophase Reports Record Second Quarter Financial Results as Solésence Beauty Science Growth Continues

    Announces 69% YOY Growth and $14M in Six-Month RevenueROMEOVILLE, Ill., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX), a leader in minerals-based and scientifically-driven health care solutions across various beauty and life science categories — with innovations that protect skin from environmental aggressors and aid in medical diagnostics — today reported record financial results for the second quarter and six months ended June 30, 2021. Jess Jankowski, Pres

  • GlobeNewswire

    Nanophase Reports Record First Quarter Financial Results as Solésence Beauty Science Leads Growth

    Announces 75+% YOY Growth and $7M in Quarterly RevenueROMEOVILLE, Ill., April 27, 2021 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX), a leader in minerals-based and scientifically driven health care solutions across various beauty and life science categories — with innovations that protect skin from environmental aggressors and aid in medical diagnostics — today reported record financial results for the first quarter ended March 31, 2021. Jess Jankowski, President and CEO, commented: “We continue to see growth in our Solésence products and strong demand for our medical diagnostics materials. We believe overall Company growth will be sustainable through 2021 and in to 2022. “After delivering $7M in product revenue in Q1, we already have more than $14M in purchase orders with the majority expected to ship in Q2 and Q3 of 2021. “Through executing our growth strategy, we find ourselves in an excellent position to expand both our Solésence beauty science business and our medical diagnostics materials business. Our other major business segment, personal care ingredients, has experienced a 28% downturn quarter over quarter, which we expect to improve as we get further into the current recovery and seasonal activities resume.” First Quarter 2021 Financial Highlights Revenue for the first quarter was $7.1 million, vs. $4.0 million for the same period in 2020. Solésence beauty science revenue was $4.3 million, up 182% from $1.5 million in 2020. First quarter 2021 Solésence beauty science revenue levels represent more than 60% of full year 2020 revenue.Advanced Materials revenue was $1.4 million, up 133% from $0.6 million in the same period of 2020. This was driven by growth in the life science space, specifically medical diagnostics materials, accounting for $1.1 million, or 78% of the total segment. Personal Care Ingredients revenue was $1.4 million, down 28% from $1.9 million in 2020. • Net income for the quarter was $0.4 million in 2021, compared to a net loss of $0.2 million, reflecting more than a $0.01 per share improvement over the same period in 2020. • We note that the PPP funding we received in the second quarter of 2020 is recorded on the balance sheet as a liability and has not had any impact on our income statement to date. • The Company finished the quarter with approximately $1.8 million in cash. Kevin Cureton, Chief Operating Officer, commented: “The combination of the rise in clean beauty, the call for inclusive products across skin care and color cosmetic categories, and the increasing regulatory pressure on chemical sunscreen actives all contribute to positive momentum for our minerals-based skin health products. Solésence beauty science product sales continue to grow and are expected to more than double between 2020 and 2021, after more than tripling between 2019 and 2020. Our growth rate far exceeds that of the industry, in part because we are well positioned to be a force in helping to define the rapidly growing clean beauty segment.” Jankowski added: “The high demand for our medical diagnostics materials has helped us to identify life science as the third major component of our business strategy. We believe our novel materials technology enables enhanced performance, helping diagnosticians to more accurately identify COVID-19 and other viruses. Given our success here, we have expanded our business and technology development efforts in this segment to define a path for sustainable growth and market expansion for these and future advanced materials. “Lastly, we are reminded daily of the responsibility we have to keep doing our part to improve our national public health through the materials we make for use in medical diagnostics. We have not forgotten the sacrifices being made by our fellow citizens under current conditions. We remain committed to protecting our employees, their families, and our communities, working to provide essential products for the health and safety of those we serve.” Use of Non-GAAP Financial Information Nanophase believes that the presentation of results excluding certain items, such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, Generally Accepted Accounting Principles (“GAAP”) and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with GAAP. About Nanophase TechnologiesNanophase Technologies Corporation (NANX), www.nanophase.com, is a leading innovator in minerals-based and scientifically driven health care solutions across beauty and life science categories, as well as other legacy advanced materials applications. Leveraging a platform of integrated patented and proprietary technologies, the Company creates products with unique performance, enhancing consumers health and well-being. We deliver commercial quantity and quality engineered materials both as ingredients and as part of fully formulated products in a variety of formats. Forward-Looking StatementsThis press release contains words such as “expects,” shall,” “will,” “believes,” and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company’s current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company’s results of operations, performance, and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company’s dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company’s engineered materials, ingredients, and fully formulated products; the Company’s manufacturing capacity and product mix flexibility in light of customer demand; the Company’s limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company’s dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue; and other factors described in the Company’s Form 10-K filed March 26, 2021. In addition, the Company’s forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties, or other contingencies. COMPANY CONTACTInvestor Relations630-771-6700 NANOPHASE TECHNOLOGIES CORPORATION CONSOLIDATED BALANCE SHEETS March December 31, 2021 2020 ASSETS(Unaudited) Current assets: Cash$1,818,942 $956,751 Trade accounts receivable, less allowance for doubtful accounts of $9,000 for both March 31, 2021 and December 31, 2020 3,827,888 2,932,427 Inventories, net 5,001,302 4,339,850 Prepaid expenses and other current assets 653,047 605,908 Total current assets 11,301,179 8,834,936 Equipment and leasehold improvements, net 3,004,540 2,868,025 Operating leases, Right of Use 1,885,689 1,826,869 Other assets, net 9,718 10,275 $16,201,126 $13,540,105 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Line of credit, bank$500,000 $500,000 Line of credit, related party 3,365,411 2,154,832 Current portion of long-term debt, related party 500,000 500,000 Current portion of finance lease obligations 168,287 177,227 Current portion of operating lease obligations 476,987 430,881 Accounts payable 2,447,428 2,126,093 Current portion of deferred revenue 494,928 410,672 Accrued expenses 1,055,382 483,801 Total current liabilities 9,008,423 6,783,506 Long-term portion of finance lease obligations 73,149 110,432 Long-term portion of operating lease obligations 1,655,839 1,650,990 Long-term convertible loan, related party 1,164,087 1,097,214 PPP Loan (SBA) 951,600 951,600 Asset retirement obligation 216,265 214,256 Total long-term liabilities 4,060,940 4,024,492 Contingent liabilities - - Stockholders’ equity: Preferred stock, $.01 par value, 24,088 shares authorized and no shares issued and outstanding - - Common stock, $.01 par value, 55,000,000 shares authorized; 38,221,292 shares issued and outstanding on March 31, 2021 and December 31, 2020, respectively 382,213 382,213 Additional paid-in capital 102,158,921 102,116,916 Accumulated deficit (99,409,371) (99,767,022) Total stockholders’ equity 3,131,763 2,732,107 $16,201,126 $13,540,105 NANOPHASE TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three months ended March 31, 2021 2020 Revenue: Product revenue, net $7,050,457 $3,961,488 Other revenue 21,807 77,909 Net revenue 7,072,264 4,039,397 Operating expense: Cost of revenue 5,042,324 3,004,846 Gross profit 2,029,940 1,034,551 Research and development expense 498,737 372,610 Selling, general and administrative expense 1,034,410 705,608 Income/(Loss) from operations 496,793 (43,667)Interest income - - Interest expense 139,142 123,790 Other, net - - Income/(Loss) before provision for income taxes 357,651 (167,457)Provision for income taxes - - Net income/(loss) $357,651 $(167,457) Net income/(loss) per share-basic $0.01 $(0.00) Weighted average number of basic shares outstanding 38,221,292 38,136,792 Net income (loss) per share-diluted $0.01 $(0.00) Weighted average number of diluted shares outstanding 39,811,292 38,136,792 NANOPHASE TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS - EXPANDED SCHEDULE (Unaudited) Three months ended March 31, 2021 2020 Revenue: Product revenue, net $7,050,457 $3,961,488 Other revenue 21,807 77,909 Net revenue 7,072,264 4,039,397 Operating expense: Cost of revenue detail: Depreciation 85,607 71,144 Non-Cash equity compensation 5,224 9,653 Other costs of revenue 4,951,493 2,924,049 Cost of revenue 5,042,324 3,004,846 Gross profit 2,029,940 1,034,551 Research and development expense detail: Depreciation 9,242 10,677 Non-Cash equity compensation 12,503 14,593 Other research and development expense 476,992 347,340 Research and development expense 498,737 372,610 Selling, general and administrative expense detail: Depreciation and amortization 6,098 5,120 Non-Cash equity compensation 24,276 27,287 Other selling, general and administrative expense 1,004,036 673,201 Selling, general and administrative expense 1,034,410 705,608 Income/(Loss) from operations 496,793 (43,667)Interest income - - Interest expense 139,142 123,790 Other, net - - Income/(Loss) before provision for income taxes 357,651 (167,457)Provision for income taxes - - Net income/(loss) $357,651 $(167,457) Non-GAAP Disclosure (see note regarding Non-GAAP disclosures): Addback Interest, net 139,142 123,790 Addback Depreciation/Amortization 100,947 86,941 Addback Non-Cash Equity Compensation 42,003 51,533 Adjusted EBITDA $639,743 $94,807

  • GlobeNewswire

    Nanophase Reports Record 2020 Financial Results as Solésence Beauty Science and Life Science Materials Lead Growth

    Announces 35+% Overall Growth and $1M ProfitROMEOVILLE, Ill., March 11, 2021 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX), a leader in minerals-based and scientifically-driven health care innovations across various beauty and life science categories, protecting skin from environmental aggressors and aiding in medical diagnostics, today reported financial results for the fourth quarter and fiscal year ended December 31, 2020. Jess Jankowski, President and CEO, commented: “We are growing, and we believe this growth will be sustainable through 2021. We entered 2021 with purchase orders in excess of $12M, a clear indication of growing market acceptance of our Solésence beauty science products and the potential repeatability of our volumes in the life science area, specifically medical diagnostics. We have reached the point where our immediate focus has shifted from building new sales to further streamlining our production to accommodate more growth, a significant positive milestone.” Jankowski continued, “Our growth strategy, with our long-term investment in Solésence beauty science as its driving force, is transforming our business in terms of both scale and profitability. Our Solésence beauty science product sales have more than tripled between 2019 and 2020. The growth rate far exceeds that of the industry, in part because we are well positioned to participate, and potentially help define the rapidly growing clean beauty segment. Since the inception of Solésence, we have launched well over 100 different SKUs with our clients, or as we call them our brand partners, with the vast majority of them still actively marketed. The rate of new product launches — one of the drivers for our growth in this business segment — has more than doubled each of the past three years, and it appears that number could continue to grow at a rate in the high double digits in the future.” “High demand for our medical diagnostics materials has created what we believe will become the third major component of our business strategy in life science,” Jankowski further elaborated. “True to our fundamentals, our novel materials technology enables enhanced performance. We believe our materials are able to improve the accuracy and sensitivity of testing protocols in some medical diagnostics applications— something that has been increasingly in the spotlight lately during the global COVID-19 pandemic. Because of this success, we have increased our business and technology development efforts in this segment to define a path for even greater sustainable growth for these and other materials. Our other major business segment, personal care ingredients, has experienced a 30% downturn year over year, which is in line with our expectations related to behaviors and spending driven by the COVID-19 pandemic, and should ease in 2021.” Fourth Quarter and Full Year 2020 Financial Highlights Revenue for the fourth quarter was $4.9 million, vs. $2.4 million for the same period in 2019. Revenue for the full year was $17.1 million vs. $12.5 million for the same period in 2019.For the full year of 2020: Solésence revenue was $6.7 million, up 263% from $1.9 million in 2019.Advanced Materials revenue was $4.9 million, up 77% from $2.7 million in 2019. This was driven by growth in medical diagnostics materials, accounting for $3.4 million, or 69% of the total segment. Personal Care Ingredients revenue was $5.5 million, down 30% from $7.9 million in 2019. Net income for the quarter was $0.2 million in 2020, or $0.01 per share, compared to a net loss of $1million, or $0.03 per share, for 2019. Net income for the full year 2020 was $1 million, or $0.03 per share, compared to a net loss of $3 million, or $0.08 per share, for 2019. We note that the PPP funding we received in the second quarter of 2020 is recorded on the balance sheet as a liability and has not had any impact on our income statement to date.The Company finished the quarter with approximately $1 million in cash. “As volume has increased, our gross profit has more than doubled, helping us to achieve full-year GAAP profitability for the first time in our history. We are generating cash from operations that — while more than absorbed by working capital requirements demanded by our growth — is indicative of a much healthier company,” added Jankowski. “As we entered 2020, we were charged with turning around a business that for many years had showed promise but had yet to fulfill it,” offered Kevin Cureton, Chief Operating Officer. “The investments we made in previous years to grow our top line provided the foundation for transforming our company through changing both the influence we have on our business development processes and the scale of the clients we work with. We now have five brand partners that will purchase several million dollars of the products and services we provide them as well as another half dozen brand partners with the potential to exceed over one million dollars in purchases. On top of this foundation, we layered important operational changes to further professionalize the management of all aspects of our company. These changes led to greater visibility of costs and improved leverage from our operating expenses, and they also empowered our talented employees to execute more effectively. While it is clear that there is more to do in building our team, improving our margins, and expanding our business portfolio, the results from 2020 should be seen as harbinger of the exciting future we see in both our life science and beauty science business sectors.” Jankowski added, “Lastly, we are reminded daily of what an honor it is to contribute to our national public health through the materials we make for use in medical diagnostics and remain well aware of the sacrifices being made by our fellow citizens under current conditions. We remain committed to protecting our employees, their families, and our communities, as we work to provide essential products for the health and safety of those we serve.” Use of Non-GAAP Financial Information Nanophase believes that the presentation of results excluding certain items, such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, Generally Accepted Accounting Principles (“GAAP”) and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with GAAP. About Nanophase TechnologiesNanophase Technologies Corporation (NANX), www.nanophase.com, is a leading innovator in minerals-based and scientifically-driven health care solutions across beauty and life science categories, as well as other legacy advanced materials applications. Leveraging a platform of integrated patented and proprietary technologies, the Company creates products with unique performance, enhancing consumers health and well-being. We deliver commercial quantity and quality engineered materials both as ingredients and as part of fully formulated products in a variety of formats. Forward-Looking StatementsThis press release contains words such as “expects,”” shall,” “will,” “believes,” and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company’s current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company’s results of operations, performance, and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company’s dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company’s engineered materials, ingredients, and fully formulated products; the Company’s manufacturing capacity and product mix flexibility in light of customer demand; the Company’s limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company’s dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue; and other factors described in the Company’s Form 10-K filed March 30, 2020. In addition, the Company’s forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties, or other contingencies. NANOPHASE TECHNOLOGIES CORPORATION CONSOLIDATED BALANCE SHEETS As of December 31, December 31, 2020 2019 ASSETS(Unaudited) Current assets: Cash$956,751 $1,193,994 Trade accounts receivable, less allowance for doubtful accounts of $9,000 for both December 31, 2020 and 2019 2,932,427 970,472 Inventories, net 4,339,850 2,553,620 Prepaid expenses and other current assets 605,908 266,587 Total current assets 8,834,936 4,984,673 Equipment and leasehold improvements, net 2,868,025 2,255,158 Operating leases, Right of Use 1,826,869 2,118,883 Other assets, net 10,275 12,528 $13,540,105 $9,371,242 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Line of credit, bank$500,000 $500,000 Line of credit, related party 2,154,832 223,871 Current portion of long-term debt, related party 500,000 500,000 Current portion of capital lease obligations 177,227 218,345 Current portion of operating lease obligations 430,881 356,949 Accounts payable 2,126,093 1,748,021 Current portion of deferred revenue 410,672 482,349 Accrued expenses 483,801 379,314 Total current liabilities 6,783,506 4,408,849 Long-term portion of capital lease obligations 110,432 287,660 Long-term portion of operating lease obligations 1,650,990 2,034,592 Long-term convertible loan, related party 1,097,214 829,721 PPP Loan (SBA) 951,600 - Long-term portion of deferred revenue - 92,750 Asset retirement obligation 214,256 206,221 Total long-term liabilities 4,024,492 3,450,944 Contingent liabilities Stockholders' equity: Preferred stock, $.01 par value, 24,088 shares authorized and no shares issued and outstanding - - Common stock, $.01 par value, 55,000,000 shares authorized; 38,221,292 and 38,136,792 shares issued and outstanding on December 31, 2020 and December 31, 2019, respectively 382,213 381,368 Additional paid-in capital 102,116,916 101,886,411 Accumulated deficit (99,767,022) (100,756,330) Total stockholders' equity 2,732,107 1,511,449 $13,540,105 $9,371,242 NANOPHASE TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three months ended Years ended December 31, December 31, 2020 2019 2020 2019 Revenue: Product revenue, net $4,492,867 $2,055,067 $16,422,363 $11,852,011 Other revenue 368,476 335,706 701,244 656,764 Net revenue 4,861,343 2,390,773 17,123,607 12,508,775 Operating expense: Cost of revenue 3,300,575 2,053,674 11,132,700 9,893,117 Gross profit 1,560,768 337,099 5,990,907 2,615,658 Research and development expense 438,039 420,280 1,571,159 1,869,926 Selling, general and administrative expense 800,876 831,251 2,934,462 3,541,964 Income/(Loss) from operations 321,853 (914,432) 1,485,286 (2,796,232) Interest income - - - - Interest expense (127,648) (69,594) (495,978) (209,876) Other, net - - - - Income/(Loss) before provision for income taxes 194,205 (984,026) 989,308 (3,006,108) Provision for income taxes - - - - Net income/(loss) $194,205 $(984,026) $989,308 $(3,006,108) Net income/(loss) per share-basic $0.01 $(0.03) $0.03 $(0.08) Weighted average number of basic shares outstanding 38,136,792 38,136,792 38,158,586 36,596,372 Net income (loss) per share-diluted $0.01 $(0.03) $0.03 $(0.08) Weighted average number of diluted shares outstanding 38,218,542 38,136,792 38,539,586 36,596,372 NANOPHASE TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF INCOME - EXPANDED SCHEDULE (Unaudited) Three months ended Yeard ended December 31, December 31, 2020 2019 2020 2019 Revenue: Product revenue, net $4,492,867 $2,055,067 $16,422,363 $11,852,011 Other revenue 368,476 335,706 701,244 656,764 Net revenue 4,861,343 2,390,773 17,123,607 12,508,775 Operating expense: Cost of revenue detail: Depreciation 77,872 65,082 295,450 246,576 Non-Cash equity compensation (5,691) 12,684 32,395 46,293 Other costs of revenue 3,228,394 1,975,908 10,804,855 9,600,248 Cost of revenue 3,300,575 2,053,674 11,132,700 9,893,117 Gross profit 1,560,768 337,099 5,990,907 2,615,658 Research and development expense detail: Depreciation 10,067 11,022 41,822 47,721 Non-Cash equity compensation 15,809 15,804 58,606 58,000 Other research and development expense 412,163 393,454 1,470,731 1,764,205 Research and development expense 438,039 420,280 1,571,159 1,869,926 Selling, general and administrative expense detail: Depreciation and amortization 5,543 2,473 20,568 18,421 Non-Cash equity compensation 37,562 34,408 103,581 137,822 Other selling, general and administrative expense 757,771 794,370 2,810,313 3,385,721 Selling, general and administrative expense 800,876 831,251 2,934,462 3,541,964 Income/(Loss) from operations 321,853 (914,432) 1,485,286 (2,796,232) Interest income - - - - Interest expense (127,648) (69,594) (495,978) (209,876) Other, net - - - - Income/(Loss) before provision for income taxes 194,205 (984,026) 989,308 (3,006,108) Provision for income taxes - - - - Net income/(loss) $194,205 $(984,026) $989,308 $(3,006,108) Non-GAAP Disclosure (see note regarding Non-GAAP disclosures): Addback Interest, net 127,648 69,594 495,978 209,876 Addback Depreciation/Amortization 93,482 78,577 357,840 312,718 Addback Non-Cash Equity Compensation 47,680 62,896 194,582 242,115 Addback Other, net - - - - Adjusted EBITDA $463,015 $(772,959) $2,037,708 $(2,241,399) COMPANY CONTACTInvestor Relations630-771-6700

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