(Authentic Caption) Seated on the head desk on the opening assembly of the governing boards of the … [+] World Financial institution and Worldwide Financial Fund are, left to proper: Eugene R. Black, U.S., Pres. Intl. Financial institution; Morton Mendels, Canada, Sec. Intl. Financial institution; J. Van DeKieft, Netherlands, Joint Chairman; U.S. Secretary of the Treasury George Humphrey; Dr. M.W. Holtrop, Netherlands, Chairman of the Financial Fund; Roman L. Horne, U.S., Appearing Sect. Financial Fund; Ivar Rooth, Sweden, Managing Director, Financial Fund; and Merle H. Cochran, U.S. Deputy Managing Director, Financial Fund.
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The IMF and World financial institution annual conferences will happen in Washington this week. These conferences happen in a context of magnified calls to revise the worldwide monetary structure, virtually 80 years after its creation. Persistent weak management on the World Financial institution has made these calls solely louder.
Which sort of structural adjustments may very well be envisaged?
Some background. Because of the 1944 Bretton Woods treaty, the World Financial institution Group emerged to cut back poverty and generate shared prosperity with the creating world, and the Worldwide Financial Fund was established to observe and guarantee a strong worldwide financial system. However their purposeful design and inedible footprint over time, each establishments wrestle with mandate definitions, design constraints and the outsized function of the greenback. The American economic system, outlined by GDP, represents now lower than 20% of the worldwide output, but greater than 90% of world monetary transactions are expressed in {dollars}.
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The World Financial institution, specifically, is encumbered with a skewed governance construction (5 Western international locations and China signify 41% of voting energy, and the US has the monopoly in designating the CEO); it struggles with scale (the World Financial institution had not more than $115 billion in disbursements this yr, a mere fraction of the current wants); it’s misaligned in its goal (the World Financial institution has supported fossil gas growth within the midst of the local weather disaster); and it lacks velocity of execution. Change to those 4 structural levers could be a basic begin to deal with the crises going through the 55 most weak international locations within the World South.
Calls to revise the worldwide monetary structure are gaining momentum. The Bridgetown Agenda, launched this summer time below the management of Barbados PM Mia Mottley, proposes to extend the velocity and scale of mitigation and adaptation funds from the IMF, the World Financial institution and multi-lateral improvement banks to essentially the most weak international locations. This week, Treasury Secretary Janet Yellen supplied proposals for the World Financial institution and regional improvement banks to develop their purview to deal with international challenges and transfer away from country-specific loans. The proposals echo suggestions from the “Boosting MDB’s Investing Capability” report, issued below the management of worldwide finance professional Frannie Leautier, and commissioned by the G20.
These reform propositions coalesce with a wider groundswell to redraw the unique Bretton Woods structure, which is marred by a tangible inadequacy to deal with the present eight-headed disaster: local weather change, well being (together with psychological well being) pandemic, bio-diversity loss, monetary fault strains, geo-political stress, social inequality and racial injustice, lack of religion in worldwide commerce and democratically elected establishments, and meals provide and water shortages.
What would complete reform imply?
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A complete reform may contain the creation of an expanded and totally interactive trifecta. Along with the IMF and the World Financial institution, a brand new establishment may very well be created, the Worldwide Platform for Local weather Finance (IPCF), a construction proposed by Steve Waygood, who leads Aviva Traders Accountable Funding Staff. The platform would carry central bankers, finance ministers and CEOs collectively to translate Intergovernmental Panel on Local weather Change (IPCC) scientific suggestions into adaptation and mitigation imperatives for the finance and funding business. The IPCF may additionally maintain the worldwide stability sheet of Nationally Decided Contributions (NDCs) articulated inside the Paris 2015 Treaty. The World Financial institution would have an amended remit to change into the establishment for facilitating mitigation (deal with discount and avoidance of disaster ache factors at core), in strategic alignment with the Multilateral Growth Banks. World water and steady meals provide administration would change into a part of its remit. The IMF would see a mandate change to change into the establishment for tackling adaptation (deal with aid to deal with the result of the disaster ache factors). A part of the remit of the UN Worldwide Group for Migration could be transferred to a brand new entity below IMF command to hurry up the choice and execution capability to deal with local weather migration.
The IPCF, the IMF and World Financial institution would every have 4-year CEO appointments, assigned on a rotating foundation to the Americas, Europe, Center-East & Africa, and Asia-Pacific area, every with proportionate voting rights, outlined by a brand new metric comprised of inhabitants, modified GDP and net-zero carbon progress standing. Every establishment would put in place a Local weather-related Monetary Threat Advisory Committee, akin to that of the US Monetary stability board. Every of the three establishments, together with multilateral improvement banks, would signal a normal moral code of conduct and a full dedication to decarbonization, halting any additional financing of fossil fuel-based exercise.
Challenges for the World Financial institution
This week, the World Financial institution governors shall be referred to as on to satisfy their fiduciary responsibility, particularly relating to the company relationship with their CEO. It’s the main accountability of the Board of Governors to make sure that a CEO acts in alignment and in the most effective curiosity of the principals (the capital purveyors) and the non-public residents who’re contributing by means of fiscal contributions. In view of the urgency of the eight-headed disaster, the hardship endured by the inhabitants of essentially the most weak international locations, and the decision to amend the remit of the World Financial institution to alleviate poverty and to share prosperity, the Board has a twin problem: what would a World Financial institution match for the twenty first century challenges supply and does it have aligned govt management caliber to steer and implement that transition?
Concerning the management caliber, the Board of Governors may undergo CEO Malpass the next questions, which have been sorted into three classes:
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• Visionary and Ethical Management
o The World Financial institution launched just lately ‘Sovereign Local weather and Nature Reporting: Proposal (for a Dangers and Alternatives Disclosure Framework” for sovereign nations. As the biggest multilateral establishment, what does the establishment’s personal framework appear like? Is it impressed by the voluntary framework for companies, TCFD (Process Power on Local weather Threat associated Monetary Disclosures) framework?
o Peer multilateral improvement banks (MDBs) such because the Asian Infrastructure Funding Financial institution, European Financial institution for Reconstruction and Growth, and the European Funding Financial institution have set 50 % of their funding to profit local weather. Why is the World Financial institution, as the biggest multilateral establishment at solely 35%?
o At COP26 in 2021, a joint assertion with Multilateral improvement Banks was watered down below your directions, excluding particular deadlines and numerical aims. What was your motivation?
o World Financial institution Group commitments rose to $115 billion in fiscal yr 2022. How a lot has been superior in maturities over ten years and what was the breakdown between mitigation and adaptation?
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• Technique Execution
o The World Financial institution refused to signal onto a press release, endorsed by 34 international locations and 5 monetary establishments, together with the European Funding Financial institution, that dedicated to “finish new direct public help for the worldwide unabated fossil gas vitality sector by the tip of 2022, besides in restricted and clearly outlined circumstances which are per a 1.5 levels Celsius
CEL warming restrict and the targets of the Paris Settlement.” Was this refusal expressed with a majority backing of the Board?
o The Financial institution’s present local weather finance reporting processes are such that the Financial institution’s claimed ranges of local weather finance can’t be independently verified. Oxfam asserts that the Financial institution’s claims may very well be off by as a lot as $7bn, or 40%, based mostly on publicly obtainable info. Can these claims be confirmed or rectified?
o Given the worldwide water disaster, why are the commitments to water and waste administration on a downward development from $2.6bn in 2018 to $1.8 bn in 2022?
• Fossil gas particular publicity
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o The World Financial institution has dedicated virtually $15 billion to fossil fuel-based tasks because the Paris 2015 Treaty. How a lot, damaged down by challenge, has been superior below your management since your appointment on April 5, 2019?
Governors may subsequent take a look at employees morale. Is present management sufficiently accountable for its selections and able to inspiring extremely certified professionals by means of the following structural transition? Lastly, in view of the string of fake pas and slips of the tongue by CEO Malpass, every consuming valuable administration time and representing wasteful distractions from its core remit, is present management geared up to steer the establishment by means of the challenges it should deal with?
A part of correct governance would additionally contain making a listing of potential candidates who may exchange CEO Malpass and meet the gravitas requirements and strategic execution management profile imposed by the board? The next candidates, all representing the American hemisphere, may very well be recognized:
• Christiana Figueres, twin Costa Rican and American citizen, exemplary local weather change diplomat, negotiator and chief architect of the Paris 2015 local weather treaty.
• Mia Mottley, PM of Barbados, staunch activist for deep worldwide finance structure reform, who would signify credible management for the core prospects of the World Financial institution, the residents of the 55 weak international locations.
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• Al Gore, former U.S.Vice-President, American businessman and environmentalist, 2007 Nobel Prize recipient, who has the political clout {and professional} observe document by means of local weather fund Technology Funding Administration, which he co-founded, and as accomplice of Kleiner Perkins for its local weather know-how options
• Mark Carney, Canadian banker and economist, who has the worldwide aura and gravitas as former Governor of the Financial institution of Canada and of England, in addition to chair of the Monetary Stability Board
Virtually 80 years after the signing of the 1944 Bretton Woods treaty, it’s the responsibility of this era to indicate ingenuity, audacity, imaginative and prescient, and execution acumen to attain the foundations for the brand new worldwide monetary structure. The evaluate on the World Financial institution management this week could be an informative harbinger of what preliminary, credible change to the broader worldwide monetary structure may signify by way of relevance, gravitas and effectiveness. Most significantly it would encourage the following era, in each the World North and South, to cooperate, within the spirit of the unique Bretton Woods accord, in designing options for issues they didn’t create.
President Trump’s tariffs continued to be felt by importers in May with a measure of government receipts for “Customs and Certain Excise Taxes” already topping $22.3 billion this month, according to Treasury Department data.
The monthly total is likely to rise only slightly in the coming days, with importers often depositing their tariff duties largely in a single day. A massive deposit of more than $16.5 billion appeared in government coffers on May 22.
May’s total so far has already topped April’s full-month haul of $17.4 billion — not to mention March’s haul of $9.6 billion.
It was a continuation of revenue spikes seen during Trump’s second term in office, which dwarfed recent history and Trump’s first term.
All told, more than $92 billion has flowed into government coffers since Jan. 1.
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May’s surge in revenue came as many of Trump’s duties were only felt for an entire month after his biggest tariffs — 10% duties on nearly every country in the world — took effect on April 5.
The haul also came after other new concessions from Trump this month that saw a slashing of tariffs on China and a limited lowering of duties on the UK.
Trump added Tuesday in a social media post that more duties could be coming, saying of his decision to delay 50% tariffs on Europe for now, “Remember, I am empowered to ‘SET A DEAL’ for Trade into the United States if we are unable to make a deal.”
Read more: What Trump’s tariffs mean for the economy and your wallet
The president is also threatening new tariffs in the weeks and months ahead, including new sector-specific tariffs to be announced on items such as semiconductors and pharmaceuticals and possible tariffs aimed at companies like Apple (AAPL) and Samsung (005930.KS).
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The data is significant but could be slightly overstated, with the Treasury Department reporting both customs duties and certain excise taxes as a single category from the Department of Homeland Security.
Excise taxes are different from customs duties. More precise data for only customs duties is expected to be available in a few weeks. But customs duties have historically made up the lion’s share of the combined figure.
President Trump at Arlington National Cemetery in Virginia on Memorial Day. (Saul Loeb/AFP via Getty Images) ·SAUL LOEB via Getty Images
Trump himself has regularly touted the surge of government tariff receipts, suggesting the US government is on its way to a repeat of an era in US history that ended more than a century ago when tariffs made up a significant portion of government revenues.
“We’re going to make a lot of money [from tariffs] and that money’s going to be used to reduce taxes,” Trump said on April 23. “We’re going to get big, big tax breaks.”
Greenville, South Carolina, May 26, 2025 (GLOBE NEWSWIRE) — ARCpoint Inc. (TSXV: ARC) (the “Company” or “ARCpoint”) is pleased to report that it has filed its unaudited Q1, 2025 Financial Statements and related Management Discussion and Analysis as summarized below.
Interim CFO and Director, Adam Ho commented, “In addition to a year over year reduction in overall costs as a result of the CRESSO transaction, we have also recently enacted additional temporary reductions in overall compensation and professional services costs of approximately USD$57k per month. These temporary reductions are a testament to the commitment of our team members in our pursuit of increasing value for our shareholders and other stakeholders.”
Beginning in mid-April of this year, the Company enacted temporary reductions in overall compensation and professional services costs totalling approximately USD$57k on a monthly basis. These temporary reductions represent approximately 40% of total monthly compensation and key, monthly recurring professional services costs. The reductions are temporary and are intended to help the Company manage its finances while it works to increase revenues through the addition of new users of the Company’s MyARCpointLabs (“MAPL”) technology platform.
Mr. Ho added, “Although a reduction in costs is important and we are grateful for the sacrifices our team members are making, we remain focused on adding new users of our MAPL platform and look forward to reporting on our progress in this regard soon”.
On Aug. 20, 2024, the company announced that it had entered into a transaction with Any Lab Test Now (ALTN) to bring together the franchise operations of both Any Lab Test Now and ARCpoint into a new joint venture company, CRESSO Brands LLC. ALTN, based in Atlanta, Ga., was founded in 1992 and at the time of the Aug. 20, 2024, transaction, had more than 235 United States franchise locations, providing direct access to clinical, DNA, and drug and alcohol lab testing services, as well as phlebotomy and other specimen collection services, through its retail storefront business model. When combined with the more than 135 ARCpoint franchise group locations, also at the time of the transaction, CRESSO is now the largest franchise network of its kind in the United States. At the time of the CRESSO transaction, ALTN and ARCpoint also agreed to make ARCpoint’s MyARCpointLabs technology platform (MAPL) the systems choice for CRESSO brand franchisees. Given that the Company now holds a 29.5% interest in the CRESSO, ARCpoint’s interest is accounted for using the equity method. As a result, revenues and costs previously attributable to the Company’s franchise operations, are no longer consolidated into the ARCpoint’s financial statements.
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All results below are reported under International Financial Reporting Standards and in US dollars. The Company reminds readers to take into consideration that the CRESSO transaction was concluded in the third quarter of 2024 on August 20, 2024. For accounting purposes, the Company has deconsolidated ARCpoint Franchise Group and recorded its 29.5% interest in CRESSO as an equity investment going forward. The Company advises readers to see its unaudited interim Financial Statements (the “Financial Statements”) and the interim Management Discussion & Analysis of the Company (MD&A”) under the Company’s profile at www.sedarplus.ca.
On January 3, 2025, the Company completed the sale of its 68% share ownership interest in ABH Greenville, as originally announced on December 30, 2024. In exchange for its ownership interest in ABH Greenville, the Company received a cash consideration of $360,000.
As at March 31, 2025, the Company had total cash on hand of approximately US$0.23 million.
All results below are reported under International Financial Reporting Standards and in US dollars.
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Summary of 2025 Q1 Financial Results
Total revenues for the three months ended March 31, 2025 were $0.18 million compared to $1.61 million for the three months ended March 31, 2024. The decrease in revenue was primarily due to decreased royalty and franchising revenues as no royalties and brand fund revenues were included after the CRESSO joint venture transaction (“CRESSO Transaction”) on August 20, 2024.
Net loss for the three months ended March 31, 2025 was $0.62 million compared to a net loss of $1.5 million for the three months ended March 31, 2024. The decrease in net loss was primarily due to a decrease in cost of revenue of $0.6 million, a decrease in salary and wages of $0.7 million, a decrease in general and administrative expenses of $0.1 million and a decrease in sales and marketing costs of $0.1 million, partially offset by a gain in the disposal of ABH Greenville of $0.3 million and a gain in the share of income of CRESSO of $0.2 million.
Operating cash flow for the three months ended March 31, 2025 was negative $0.9 million compared to negative $1.3 million for the three months ended March 31, 2024.
EBITDA for the three months ended March 31, 2025, was negative $0.4 million compared to negative $1.2 million for the three months ended March 31, 2024.
Adjusted EBITDA for the three months ended March 31, 2025, was negative $0.6 million compared to negative $1.0 million for the three months ended March 31, 2024.
DEFINITION AND RECONCILIATION OF NON-IFRS FINANCIAL MEASURES
The Company reports certain non-IFRS measures that are used to evaluate the performance of its businesses and the performance of their respective segments. Securities regulators require such measures to be clearly defined and reconciled with their most comparable IFRS measures.
As non-IFRS measures generally do not have a standardized meaning, they may not be comparable to similar measures presented by other issuers. Rather, these are provided as additional information to complement those IFRS measures by providing further understanding of the results of the operations of the Company from management’s perspective. Accordingly, these measures should not be considered in isolation, nor as a substitute for analysis of the Company’s financial information reported under IFRS. Non-IFRS measures used to analyze the performance of the Company’s businesses include “EBITDA” and “Adjusted EBITDA”.
The Company believes that these non-IFRS financial measures provide meaningful supplemental information regarding the Company’s performances and may be useful to investors because they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making. These financial measures are intended to provide investors with supplemental measures of the Company’s operating performances and thus highlight trends in the Company’s core businesses that may not otherwise be apparent when solely relying on the IFRS measures. These non-IFRS measures are calculated as follows:
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“EBITDA” is comprised as income (loss) less interest, income tax and depreciation and amortization. Management believes that EBITDA is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company. See “Consolidated EBITDA and Adjusted EBITDA Reconciliation” appended to this press release for a quantitative reconciliation of EBITDA to the most directly comparable financial measure.
“Adjusted EBITDA” is comprised as income (loss) less interest, income tax, depreciation, amortization, share-based compensation, Brand Fund revenue and expense timing difference, change in fair value of warrant liability, foreign exchange gain (loss) and other income / expenses not attributable to the operations of the Company. Management believes that EBITDA is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company. See “Consolidated EBITDA and Adjusted EBITDA Reconciliation” appended to this press release for a quantitative reconciliation of Adjusted EBITDA to the most directly comparable financial measure.
A reconciliation of how the Company calculates EBITDA and Adjusted EBITDA is provide in the table appended to this press release.
For more information, please see the unaudited interim Financial Statements (the “Financial Statements”) and the interim Management Discussion & Analysis of the Company (MD&A”) under the Company’s profile at www.sedarplus.ca.
About ARCpoint Inc.
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ARCpoint is a leading US-based health care company that leverages technology along with brick-and-mortar locations to give businesses and individual consumers access to convenient, cost-effective healthcare information and solutions with transparent, up-front pricing, so that they can be proactive and preventative with their health and well-being. ARCpoint is based in Greenville, South Carolina, USA. ARCpoint Corporate Labs LLC develops corporate-owned labs committed to providing accurate, cost-effective solutions for customers, businesses and physicians. AFG Services LLC serves as the innovation center of the ARCpoint group of companies as it builds a proprietary technology platform and a physician network to equip all ARCpoint labs with best-in-class tools and solutions to better serve their customers. The platform also digitalizes and streamlines administrative functions such as materials purchasing, compliance, billing and physician services for ARCpoint franchise labs and other clients.
For more information, please contact:
ARCpoint Inc. Adam Ho, Interim Chief Financial Officer Phone : (604) 329-1009 E-mail : invest@arcpointlabs.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION :
Forward-Looking Information – this news release contains “forward-looking information” within the meaning of applicable Canadian securities laws which are based on ARCpoint’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.
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The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Froward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the ability of the Company to implement its business strategies, the COVID-19 pandemic; competition and other risks.
Any forward-looking information speaks only as of the date on which it is made, and except as required by law, the Company does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering the forward-looking information contained herein, readers should keep in mind the risk factors and other cautionary statements in the Company’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.
ARCpoint Inc. Consolidated EBITDA and Adjusted EBITDA Reconciliation (Expressed in United States Dollars)
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Finance expense comprised of interest on bank loans, notes payable and lease liabilities (see Financial Statements).
Share-based compensation expense comprised of non-cash compensation (see Financial Statements).
See ‘Cresso Transaction’ section of this MD&A for further details.
Previous to the ‘Cresso Transaction’ on August 20, 2024, the Group operated a Brand Fund to collect and administer funds contributed for use in advertising and promotional programs designed to increase sales and enhance the reputation of the Group and its franchisees. The Group reported contributions and expenditures on a gross basis on the Group’s statement of profit and loss. Brand Fund contributions are recognized as revenue when invoiced, as the Group has full discretion on how and when the Brand Fund revenues are spent. Brand Fund revenue received may not equal advertising expenditures for the period due to timing of promotions and this difference is recognized to earnings. This adjustment is made to normalize for the timing difference of the Brand Fund revenues and Brand Fund expenditures.
Financial stress is far from uncommon. The cause could be something specific to you, like an unexpected string of expenditures — say, your car breaks down just days after an emergency trip to the veterinarian — or a sudden job loss. Or maybe, you are feeling overwhelmed due to broader economic uncertainty.
Lately, consumers have faced “more uncertainty than usual about the economy,” and the Trump administration’s tariff plans have “rekindled worries about both inflation and a possible business slump,” said The New York Times. Whatever the reason for your financial unease, these three tips will help get you through the tough period.
