BCS2021 Held in Beijing, Focusing on Operation Security

BEIJING, Sept. 01, 2021 /Xinhua-AsiaNet/– At present, the digital wave has swept the world, the society has entered a new stage driven by data, and cyber security has become the premise and cornerstone of the development of digital economy. At the recent 2021 Beijing Cyber Security Conference (BCS2021), some experts said that facing the high requirements, high risks and high uncertainties in the digital age, the industry needs to focus on operation security and change its development thinking and mode.

According to the Organizing Committee of BCS2021, with the theme of “Planning & Operating Cyber Security Ensure Enterprise Operates Safely”, BCS2021 took place recently in the form of a cloud summit. More than 10 CAS and CAE academicians and over 200 extinguished foreign guests exchanged views on and discussed hot topics such as security responsibility, industry trends, digital city, data governance, internet of vehicles, and password application. BCS is known as the Davos Forum in the field of cyber security. The theme words of the conferences in recent three consecutive years “endogenous security”, “security framework” and “operation security” constitute a “trilogy” of cyber security.

The site of 2021 Beijing Network Security Conference

“The ‘digital epidemic’ caused by network insecurity and cybercrime through ransomware is as serious as Covid-19. The victims and threats are global and have no national boundaries,” John Davis, global vice president and chief security officer of Palo Alto Networks, a famous cyber security company, said in his speech at the conference.

Neil MacDonald, vice president of outstanding research at Gartner, a consulting firm, delivered a speech entitled “Global Cyber Security Trends in 2021”. He said that the current global security challenges will give birth to new trends of security and risk management, one of which is to proactively identify risks by using vulnerability and attack simulation tools.

In the face of a complex cyber security situation, it is necessary to establish an overall, systematic, and dynamic protection concept, adhere to bottom-line thinking and proactive defense, and omprehensively deal with the ever-changing security risks.

What is the dynamic protection concept? Qi Xiangdong, co-chairman of the conference and chairman of Qi-Anxin Group, said: “Network security involves both attack and defense, just like spear and shield. If you develop an advanced shield, it will fall behind after a period of time, because your opponent will definitely develop a more advanced spear against the shield. Therefore, no security protection is once and for all and always advanced.”

He further explained that the realization of cyber security is a dynamic process of improvement, and only by constantly upgrading security capabilities can complex problems be solved. To this end, more efforts should be made to enhance security capability to protect complex systems and complex transactions; mobilize sufficient human and financial resources to meet unlimited security demand; provide professional and efficient security operation services to resist complex network attacks; strengthen cognitive ability to form strong situational awareness; turn security products into capabilities, resources and services; comprehensively improve credit capacity, refine the credit, and achieve dynamic control through dynamic evaluation of trust.

Source: The Organizing Committee of BCS2021

Image Attachments Links:

Link: http://asianetnews.net/view-attachment?attach-id=399477

 

Kava Swap Lists on AscendEX

Singapore, Aug. 31, 2021 (GLOBE NEWSWIRE) — AscendEX, a global digital asset trading platform with a comprehensive product suite, is thrilled to announce the listing of the Kava Swap token (SWP) under the pair USDT/SWP on September 1st at 1 p.m. UTC.

Kava is focused on democratizing financial services and making them openly accessible to anyone, anywhere in the world.  Kava Chain is a decentralized, permissionless, censorship-resistant blockchain built with the Cosmos SDK. This means it operates much like other Cosmos ecosystem blockchains, and is designed to be interoperable with other chains.

Kava.io is the first cross-chain Decentralized Finance (DeFi) hub providing applications and services to the world’s largest cryptocurrencies. Kava’s platform operates as a decentralized bank for digital assets connecting users with products like stablecoins, loans, and interest-bearing accounts so that they can do more and earn more with their digital assets. For example, sers can deposit their digital assets and use them as collateral to borrow Kava’s crypto-backed stablecoin, USDX. The native swap token (SWP), launching Monday Aug. 30, allows users to swap and engage with multiple assets across different chains.

Kava Swap is a cross-chain liquidity hub for all DeFi apps and financial services. Its purpose is to enable the aggregation of capital where it can then be deployed seamlessly across different blockchain ecosystems, DeFi apps, and financial services. At its core, Kava Swap is a cross-chain Autonomous Market Making (AMM) Protocol that leverages the Kava platform’s DeFi infrastructure, cross-chain bridges, and security. Kava Swap delivers users a seamless way to swap between assets of different blockchains and deploy their capital into market-making pools where they can earn handsome returns.

The Kava Protocol is the set of rules and behaviors built into the Kava Chain that enables advanced DeFi functionality like permissionless borrowing and lending. Like most Cosmos ecosystem blockchains, the automated transaction behaviors known as “Smart Contracts” are hardcoded into the protocol. They are referred to as “modules” in the Cosmos Ecosystem. The Kava App uses a special kind of module called a CDP. Hard Protocol is an application that runs on Kava Chain. It does not have its own blockchain. It builds upon the Kava Protocol and adds new functionality, expanding the Kava Ecosystem to include an autonomous money market protocol.

The HARD token is a unique token on the Kava Chain. It is given as a reward for supplying and borrowing on the Hard app. KAVA, the native token of the KAVA protocol, is used as a Proof of Stake (POS) staking asset, which ensures the finality and safety of loans on the protocol and also acts as the ‘lender of last resort’ in certain situations. The Kava Chain is secured by its native token KAVA and it is used across the full chain as a transport and a store of value. It is given as a reward for minting USDX on the Kava app. USDX is a stable coin loosely pegged to the US Dollar. It is minted when a Kava CDP is opened. KAVA, SWP, and HARD are all governance tokens, meaning holders can vote on the rules and proposed new features of the protocols.

About AscendEX 

AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:

Website: https://ascendex.com

Twitter: https://twitter.com/AscendEX_Global

Telegram: https://t.me/AscendEXEnglish

Medium: https://medium.com/ascendex

About Kava Swap

Kava Labs is focused on democratizing financial services and making them openly accessible to anyone, anywhere in the world. Kava is the first cross-chain Decentralized Finance (DeFi) hub providing applications and services to the world’s largest cryptocurrencies. Kava’s platform operates as a decentralized bank for digital assets connecting users with products like stablecoins, loans, and interest-bearing accounts so that they can do more and earn more with their digital assets.

For more information and updates, please visit:

Website: https://www.kava.io/

Twitter: https://twitter.com/Kava_Swap

Telegram: https://t.me/KavaSwap

Medium: https://medium.com/kava-labs


Marketing Department
AscendEX
marketing@ascendex.com

Nyxoah Issues First Half 2021 Financial Results

REGULATED INFORMATION

Nyxoah Issues First Half 2021 Financial Results

Mont-Saint-Guibert, Belgium – August 31, 2021, 10:30pm CET / 4:30pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH)(“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced its unaudited condensed consolidated interim financial statements for the first half of 2021.

Highlights

  •  $97.8 million Nasdaq IPO gross proceeds
  •  On track to complete US DREAM trial enrollment
  •  €355 thousand revenue generated in Europe, compared to no revenue for the six months ended  June 30, 2020, driven mainly in Germany
  •  Increased commercial activities in Germany with 12 active accounts in Q2, up from 2 in Q1 2021
  •  Announced BETTER SLEEP study top-line results that showed primary safety and performance endpoints met, with statistically significant mean reduction in the AHI score in full patient population including Complete Concentric Collapse (“CCC”) patients
  •  To submit full BETTER SLEEP study data to a medical journal for publication and announce results following further analyses
  •  Integrated Vanderbilt University technology into our scientific and technology department pipelines including collaboration with US and German key opinion leaders

“In the first half of 2021, we kept pace with our initiatives to deliver significant new accomplishments.  In less than 12 months, we completed our second IPO with a Nasdaq listing, further strengthening our balance sheet; made important gains in commercial activities in Germany, our initial commercial proof of concept market; advanced clinical programs, including data to potentially expand our addressable market to include CCC patients; and maintained focused investments in new products and technologies,” said Olivier Taelman, CEO of Nyxoah.  “In the second half, we look forward to further accelerating our commercial activities in existing markets, enter new markets, scale up, and advance clinical programs, including enrollment completion of our US DREAM study in the fourth quarter.”

First Half 2021 Results

For the six months ended
June 30
2021 2020
(in thousands)
Revenue € 355 € −
Cost of goods sold (115)
Gross profit € 240 € −
General and administrative expenses (4 777) (2 400)
Research and development expenses (1 255) (56)
Clinical expenses (631) (509)
Manufacturing expenses (2 171) (207)
Quality assurance and regulatory expenses (642) (86)
Patents fees & Related (793) (107)
Therapy Development expenses (1 502) (761)
Other operating income / (expenses), net (97) 184
Operating loss for the period € (11 628) € (3 942)
Financial income 43 82
Financial expense (899) (416)
Loss for the period before taxes € (12 484) € (4 276)
Income taxes (124) (24)
Loss for the period € (12 608) € (4 300)
Loss attributable to equity holders € (12 608) € (4 300)
Other comprehensive loss
Items that may be subsequently reclassified to profit or loss (net of tax)
Currency translation differences 192 (89)
Total comprehensive loss for the year, net of tax € (12 416) € (4 389)
Loss attributable to equity holders € (12 416) € (4 389)
Basic Earnings Per Share (in EUR) € (0.570) € (0.262)
Diluted Earnings Per Share (in EUR) € (0.570) € (0.262)

Revenue

Revenue was €355 thousand for the six months ended June 30, 2021, compared to no revenue for the six months ended June 30, 2020. The increase in revenue was attributable to the Company’s commercialization of the Genio® system mainly in Germany, and to a lesser extent, Spain and Belgium.

Cost of Goods Sold

Cost of goods sold was €115 thousand  for the six months ended June 30, 2021, compared to no cost for the six months ended June 30, 2020. The increase in cost of goods sold was attributable to the sales of the Genio® system in Europe.

General and Administrative Expenses. General and administrative expenses increased by €2.4 million, or 99 %, from €2.4 millionfor the six months ended June 30, 2020 to €4.8 million for the six months ended June 30, 2021 mainly due to an increase in consulting and contractors’ fees. The increase in consulting and contractors’ fees includes variable compensations for an amount of €0.3 million for the six months ended June 30, 2020 and €1.9 million for the six months ended June 30, 2021 related to a cash-settled share based payment transaction and an increase of consultant services to support the company in legal, finance, tax and IT matters.

Research and Development Expenses. Before capitalization of €0.6 million for the six months ended June 30, 2021 and €0.6 million for the six months ended June 30, 2020, research and development expenses increased by €1.1 million or 173 %, from €0.7 million for the six months ended June 30, 2020, to €1.8 million for the six months ended June 30, 2021, due to an increase in staff and consulting costs to support our R&D activities. The Company started as of January 2021 to amortize its intangible assets. This explains the significant increase of depreciation expenses for the six months ended June 30, 2021, compared to the six months ended June 30, 2020.

Clinical Expenses. Before capitalization of €3.1 million for the six months ended June 30, 2021, and €1.4 million for the six months ended June 30, 2020, clinical expenses increased by €1.8 million, or 96%, from €1.9 million for the six months ended June 30, 2020, to €3.7 million for the six months ended June 30, 2021. The increase in the expenses was mainly due to an increase in staff and consulting to support the completion of the BETTER SLEEP trial implantations, continuous recruitment for the EliSA trial and the ongoing DREAM IDE trial in the United States.

Manufacturing Expenses. Before capitalization of €0.3 million for the six months ended June 30, 2021, and €1.2 million for the six months ended June 30, 2020, manufacturing expenses increased by €1.0 million, or 72% from €1.4 million for the six months ended June 30, 2020, to €2.4 million for the six months ended June 30, 2021. The increase in the expenses was mainly due to an increase in staff, in production and engineering team to support capacity and yield improvement. In addition, manufacturing expenses increased for the six months ended June 30, 2021, compared to the same period of 2020 due to the increase demand of our Genio® system for non-commercial purposes (clinical trials, development activities, etc) and, therefore, the increase of associated production costs.

Quality Assurance and Regulatory Expenses. Before capitalization of €0.2 million for the six months ended June 30, 2021, and €0.5 million for the six months ended June 30, 2020, quality assurance and regulatory expenses increased by €0.3 million, or 44% from €0.6 million for the six months ended June 30, 2020, to €0.9 million for the six months ended June 30, 2021. The increase in the expenses was mainly due to an increase in staff and QA & regulatory activities to support manufacturing scaling up process.

Patent Fees & Related Expenses. Before capitalization of €0.2 million for the six months ended June 30, 2020, patents fees and related expenses increased by €0.5 million, or 199 % from €0.3 million for the six months ended June 30, 2020, to €0.8 million for the six months ended June 30, 2021, due to expenses related the in-licensing agreement with Vanderbilt University.

Therapy Development Expenses. Therapy development expenses increased by €0.7 million or 97 % from €0.8 million for the six months ended June 30, 2020, to €1.5 million for the six months ended June 30, 2021. The increase in the expenses was mainly due to an increase in staff and consulting, to support the launch of the commercialization in Europe.

Other Operating Income / (Expenses). The Company had other operating expenses of €0.1 million for the six months ended June 30, 2021, and other operating income of €0.2 million for the six months ended June 30, 2020, the evolution being mainly due to the impact of the initial measurement and re-measurement of the financial debt.

Operating Loss

The Company realized a net loss of €12.6 million for the six months ended June 30, 2021, compared to a net loss of €4.3 million for the six months ended June 30, 2020, due to increases of activities in all departments.

Cash Position

Cash and cash equivalents totaled €79.2 million on June 30, 2021, as compared to €23.9 million on June 30, 2020.

Net cash used in operations was €8.4 million for the six months ended June 30, 2021 compared to €4.0 million for the six months ended June 30, 2020. The increase of €4.3 million was primarily due to an increase in a loss for the period of €8.2 million that was mainly attributable to increased general and administrative expenses, research and development expenses, manufacturing expenses and therapy development expenses, which were offset by a positive variation in the working capital and other non-cash transactions of €3.9 million.

Net cash used in investing activities was €4.5 million for the six months ended June 30, 2021 compared €3.7 million to the six months ended June 30, 2020.

Net cash used in financing activities for the six months ended June 30, 2021 was €289 thousand compared to €25.7 million of net cash provided by financing activities during the six months ended June 30, 2020. The decrease was due to the fact that no financing rounds have been organized in the first half of 2021.

Outlook for 2021

The Company’s business, operational, and clinical outlook for 2021 include the following expected milestones and goals:

  •  Begin marketing in Switzerland with approved DRG, as well as additional European countries by the second half of 2021
  •  Ramp up EU revenue through dedicated sales team in Germany
  •  Open second independent manufacturing site in Belgium
  •  Complete DREAM pivotal trial enrollment in the fourth quarter of 2021

First half-year report 2021
Nyxoah’s financial report for the first half of 2021, including details of the unaudited condensed consolidated financial statements, are available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

Conference call and webcast presentation 
Nyxoah will conduct a conference call to open to the public tomorrow, September 1, 2021, at 3:00 p.m. CET / 9:00 a.m. ET, which will also be webcasted. To participate in the conference call, please dial one of the following numbers:

Conference ID: 7468474

USA:                             (844) 260-3718
Belgium:                       0800 73264
International:                (929) 517-0938

A question-and-answer session will follow the presentation of the results. To access the live webcast, go to https://investors.nyxoah.com/events. The archived webcast will be available for replay shortly after the close of the call.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a CE-validated, patient-centered, next generation hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and comorbidities including cardiovascular diseases, depression and stroke.

Following the successful completion of the BLAST OSA study in patients with moderate to severe OSA, the Genio® system received its European CE Mark in 2019. The Company has completed the BETTER SLEEP study in Australia and New Zealand for therapy indication expansion and is currently conducting the DREAM IDE pivotal study for FDA approval and a post-marketing EliSA study in Europe to confirm the long-term safety and efficacy of the Genio® system.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements 
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; and the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:
Nyxoah
Fabian Suarez, Chief Financial Officer
corporate@nyxoah.com
+32 (0)10 22 24 55

Gilmartin Group 
Vivian Cervantes
IR@nyxoah.com

Attachment

Air Link Raises Rs. 6.43 billion in Biggest Private Sector IPO

Smartphone assembler, Air Link Communication, raised Pakistan’s single-largest investment worth Rs. 6.43 billion through selling 90 million shares to institutional and rich individual investors at the Pakistan Stock Exchange.

The company will use the raised equity to meet working capital requirements.

“This was the single-largest, historical and record-setting IPO in the private sector of Pakistan in terms of the raised equity at Rs. 6.43 billion,” the IPO consultant and book-runner JS Global CEO Kamran Nasir said.

The Air Link’s IPO was oversubscribed by 1.64 times as over 500 institutional and high net worth individual investors placed bids for 147.65 million shares against an issuance size of 90 million shares, which led to a total size of bids of around Rs. 11 billion, Nasir estimated.

The entire issue was offered through book-building at a floor price of Rs. 65 per share (including a premium of Rs. 55 per share). The general public will be offered shares on 6th and 7th September 2021 at strike price of Rs. 71.50 per share.

This was the seventh IPO of the year 2021 and the first one in the current fiscal year 2022.

In the previous fiscal year 2020-21, as many as eight companies raised a total of Rs. 20 billion through book building and an initial public offering. This was the highest number of IPOs held at PSX in 14 years.

“The company sales grew from Rs. 40 million in 2012 to over Rs. 47 billion in 2021 showing an unprecedented growth as e-commerce and digitization is expanding at a super pace in Pakistan where smartphones will become a necessity for everyone,” the brokerage house said in a commentary the other day.

The company stands as one of the largest distributors of smartphones in the country and after the announcement of the new mobile policy has set up a manufacturing facility, where they are manufacturing smartphones of the Transsion Group China. It is one of the largest distributors in Pakistan for Samsung, Apple, Huawei, Xiaomi, Intel, Techno, TCL, and Alcatel, it added.

All the big smartphone manufacturers, such as Samsung, Intel, Tencho, Infinix, TCL, and Alcatel, will now be assembled in Pakistan. Furthermore, Xiaomi, the largest smartphone manufacturer in the world, will also soon start assembling in Pakistan.

Source: Pro Pakistani

FBR Rolls Out Module in WeBOC System for Online Export Facilitation Scheme

The Federal Board of Revenue has successfully developed and rolled out a new module in the Web Based One Customs (WeBOC) system for the Online Export Facilitation Scheme (EFS) Authorization Application.

This facility can be availed by exporters after registering on the WeBOC system. A new feature for this purpose, called the ‘Export Facilitation Scheme (EFS) / Export Oriented Unit (EOU) / Manufacturing Bond (MB)’, has been added to the WeBOC menu.

The license application that is available on the WeBOC system is to be filled online by traders and exporters. The online EFS application will be submitted to the concerned customs formation. After initial scrutiny, it will be sent to the regulatory authority for approval.

Whether a license is approved either provisionally or finally, it will be forwarded to the Input-Output Co-efficient Organization (IOCO) or the Engineering Development Board (EDB) for the issuance of an analysis certificate, after which a message will be sent to the concerned trader or exporter.

Another feature that allows traders to apply online for the license of Common Export House has been added to the WeBOC system. The Common Export House will provide the facility of purchasing imported intermediary goods and raw materials to small and medium enterprises (SMEs) as well as direct and indirect exporters.

Stakeholders, including SMEs, exporters, and customs agents, and the Ministry of Commerce commended the initiative as a tool that will provide a much-needed boost to Pakistan’s industry and exports. This will, in turn, create employment opportunities and will earn foreign exchange for the country.

By launching the EFS module, Pakistan has achieved an important milestone envisaged in the Trade Facilitation Agreement 2017. This initiative will remove the SME’s bottlenecks in exporting goods, which will play an effective role in improving the country’s rating on the World Bank’s Ease of Doing Business and Trading Across the Borders indices.

Source: Pro Pakistani

Pakistan’s Exports Grew by 43% in August 2021

Pakistan’s exports grew by 43 percent to $2.26 billion in August 2021 compared with $1.58 billion in the same month last year.

Abdul Razak Dawood, the Adviser for Commerce and Investment to Prime Minister Imran Khan, announced the numbers using his Twitter account today.

However, the export figures for August 2021 were short by $143 million of the government’s monthly target of $2.4 billion for the month.

“I urge the exporters to double their efforts to market their exports in order to achieve our target,” Dawood added.

During July 2021, Pakistan’s exports had grown by 17.3 percent, to $2.35 billion.

Notably, the official figures for imports and trade deficit are yet to come. Pakistan Bureau of Statistics (PBS) also has yet to release official import, export figures.

Source: Pro Pakistani