UPDATED: SBF Finally Agrees to US Extradition
Crypto fraudster and former FTX CEO Sam Bankman-Fried can’t bare to sleep another night in a Bahamian corrections facility, and agreed to be extradited to the US where he can self-loathe in the “luxury” of America’s prison system. Update: It has been quite the turbulent day in the Bahamas. Initially, it was widely expected that […]
Has Sam Bankman-Fried Changed His Mind About Extradition to the US?
Looks like Fox Hill is doing a number on Sam Bankman-Fried. The former FTX CEO is expected to appear in court in the Bahamas on Monday to take back his decision to fight extradition to the United States, according to CNN, citing a person familiar with the matter. Bankman-Fried initially did not waive the right […]
7-Eleven Gets Its First Liquor License In Ontario
It looks like Ontario’s about to see “new” convenient places for quick bites, beer, and wine. Convenience store chain 7-Eleven has received a liquor sales license from the Alcohol and Gaming Commission of Ontario (AGCO), allowing it to serve chilled beer, wine, and coolers at a restaurant within one of its stores. The province’s first […]
Gatekeeper Reports $20M Top Line Revenue for FY2022; 16% Growth
This morning Gatekeeper Systems (TSXV: GSI) released their 2022 fiscal full-year earnings. The company earned $1.9M in comprehensive income on the year, with $20M in top-line revenue on gross margins of 46%. The company’s FYQ4, which ended on August 31, 2022, represented the top revenue quarter in company history at $9.8M, an increase of 91% […]
Are Binance.US Assets Commingled With Binance’s?
The FTX implosion essentially came down to its seemingly reckless way of mixing its assets (read: customer deposits) with sister trading firm Alameda Research, which the latter used to placed risky bets that led to its liquidity crunches. However, recent activity of its rival Binance is raising some doubts if the world’s largest crypto exchange […]
Binance.US to Purchase the Remains of Voyager Digital
This morning Voyager Digital announced they will be acquired by Binance.US, who reportedly came in with the highest bid for Voyager’s assets. The decision comes after a review of strategic options with the core objective of maximizing the value returned to customers and other creditors on an expedited timeframe. Binance.US, a Delaware corporation, is officially […]
Freshii Acquired by Foodtastic for $74.4M
This morning Freshii Inc. (TSX: FRII) announced they have entered into an agreement to be purchased by Foodtastic Inc. for approximately $74.4M in cash or approximately $2.30 per share for all the shares issued. The takeout represents a 142% premium to the closing price on Friday. On a trailing 12-month basis, the company had generated […]
Elon Musk Voted Out As Twitter Chief In His Own Poll
Twitter CEO Elon Musk likes his decisions (at least, most of them) done through a poll, in the service of free speech. It seems the poll-loving persona has backfired. In a Twitter poll asking his followers if he should step down as the social media platform’s head, Musk got 57% of the respondents saying yes. […]
Auto Loan Delinquency Trends Look Troubling
The S&P 500 Index is down around 5% since late November 2022 and 20% from its all-time high in early January 2022. Nevertheless, the index is holding up well on a valuation basis. Based on consensus, bottom-up analysts’ 2023E earnings estimates of around US$232.50 (which, if achieved, would be the highest level of Index earnings ever), the […]
A Recent Survey Shows That Many More U.S. and Canadian Small Business Owners Plan to Implement Layoffs in December
Seemingly each day a large technology or financial services company announces layoff plans or is rumored to do so. Fears of a pronounced economic slowdown in 2023 are generally cited as the chief reason for these actions. However, some announcements are doubtless copycat reactions: “If my competitor is sensing a downturn and cutting headcount to get ahead […]