Daily Archives: August 28, 2021

An Explosion in Geofence Warrants Threatens Privacy Across the US – WIRED

Posted: August 28, 2021 at 12:32 pm

Police around the country have drastically increased their use of geofence warrants, a widely criticized investigative technique that collects data from any user's device that was in a specified area within a certain time range, according to new figures shared by Google. Law enforcement has served geofence warrants to Google since 2016, but the company has detailed for the first time exactly how many it receives.

The report shows that requests have spiked dramatically in the past three years, rising as much as tenfold in some states. In California, law enforcement made 1,909 requests in 2020, compared to 209 in 2018. Similarly, geofence warrants in Florida leaped from 81 requests in 2018 to more than 800 last year. In Ohio, requests rose from seven to 400 in that same time.

Across all 50 states, geofence requests to Google increased from 941 in 2018 to 11,033 in 2020 and now make up more than 25 percent of all data requests the company receives from law enforcement.

It should be a last resort, because its so invasive.

Jake Laperruque, Project on Government Oversight

A single geofence request could include data from hundreds of bystanders. In 2019, a single warrant in connection with an arson resulted in nearly 1,500 device identifiers being sent to the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Dozens of civil liberties groups and privacy advocates have called for banning the technique, arguing it violates Fourth Amendment protections against unreasonable searches, particularly for protesters. Now, Googles transparency report has revealed the scale at which people nationwide may have faced the same violation.

Theres always collateral damage, says Jake Laperruque, senior policy counsel for the Constitution Project at the nonprofit Project on Government Oversight. Because of their inherently wide scope, geofence warrants can give police access to location data from people who have no connection to criminal activities.

"We vigorously protect the privacy of our users while supporting the important work of law enforcement, Google said in a statement to WIRED. We developed a process specifically for these requests that is designed to honor our legal obligations while narrowing the scope of data disclosed."

Just this week, Forbes revealed that Google granted police in Kenosha, Wisconsin, access to user data from bystanders who were near a library and a museum that was set on fire last August, during the protests that followed the murder of George Floyd. Google handed over the GPS coordinates and data, device data, device IDs, and time stamps for anyone at the library for a period of two hours; at the museum, for 25 minutes. Similarly, Minneapolis police requested Google user data from anyone within the geographical region of a suspected burglary at an AutoZone store last year, two days after protests began.

Laperruque argues that geofence warrants could have a chilling effect, as people forgo their right to protest because they fear being targeted by surveillance. Just this week, Kenosha lawmakers debated a bill that would make attending a riot a felony. Critics noted that such a bill could penalize anyone attending peaceful demonstrations that, because of someone elses actions, become violent. Similarly, geofence data could be used as evidence of guilt not just by being loosely associated with someone else in a crowd but by simply being there in the first place.

Geofence warrants work differently from typical search warrants. Usually, officers identify a suspect or person of interest, then obtain a warrant from a judge to search the persons home or belongings.

With geofence warrants, police start with the time and location that a suspected crime took place, then request data from Google for the devices surrounding that location at that time, usually within a one- to two-hour window. If Google complies, it will supply a list of anonymized data about the devices in the area: GPS coordinates, the time stamps of when they were in the area, and an anonymized identifier, known as a reverse location obfuscation identifier, or RLOI.

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FBI Screwup Let Agents Access Information They Weren’t Supposed to See – The Daily Beast

Posted: at 12:32 pm

Department of Justice lawyers revealed Wednesday that the FBI improperly gave agents access to a suspects private online communications that only a few agents were authorized to see, sparking privacy concerns that investigators could be sharing too much information without permission.

Virgil Griffith, a young technologist who gave a public talk about cryptocurrencies at a conference in North Korea, was the subject of an FBI search warrant to obtain information from his Facebook and Twitter accounts in March 2020.

The data was uploaded to the FBIs internal data analysis program created by Palantir, a CIA-funded company that specializes in sorting through huge amounts of information and connecting the dots. And, according to a three-page DOJ letter, an FBI special agent who was not part of the investigation into Griffith but was working on a separate investigation into someone who had spoken to Griffith online accessed that data without permission from the FBI. A year later, three more FBI analysts started poking around the same evidence without approval.

When you have a system of this magnitude, there have to be safeguards in place to know whos accessing it and when.

Saira Hussain, an attorney at the Electronic Frontier Foundation

All that file sharing flies in the face of a general rule: law enforcement agents receive narrow search warrants to access specific private information. Judges try to limit unjustified government intrusions into personal lives, so typically, a separate investigation requires a separate search warrant, according to constitutional scholars.

When you have a system of this magnitude, there have to be safeguards in place to know whos accessing it and when, said Saira Hussain, an attorney at the Electronic Frontier Foundation, a group that advocates privacy.

According to the DOJ, the cause of the mistake was simple: someone forgot to flip a switch.

When data is loaded onto the platform, the default setting is to permit access to the data to other FBI personnel, the DOJ explained, adding that those default settings were not changed to restrict access to solely the agents working on the case.

The DOJ and FBI are now assessing the damage. The court letter to U.S. District Judge P. Kevin Castel said they are now exploring to what extent this issuei.e., the loading of restricted data onto the platform without restrictionmight have impacted other cases.

Palantir issued a statement asserting that what happened was not a glitch, as The New York Post described when it broke the news on Wednesday.

There was no glitch in the software. Our platform has robust access and security controls. The customer also has rigorous protocols established to protect search warrant returns, which, in this case, the end user did not follow, the statement read.

But the company would not identify the software it provided to the FBI, describe its purpose, or say whether it is helping the government conduct its review.

The FBI has at least one publicly visible contract worth $19 million to Palantir for services that started in September 2017. Documents unearthed by the Electronic Privacy Information Center, an advocacy group, show that both the FBI and ICE have used FALCON, a customized version of a Palantir program called Gotham that quickly sorts incoming data and helps military and police.

Unless the FBI happens to catch, correct, and disclose that initial permissions error, Bureau personnel can make unrestricted use of the data.

John Davisson, attorney at Electronic Privacy Information Center

John Davisson, an attorney at EPIC, said the software disclosed by the DOJ appears to be something novel and different, and the FBI needs to disclose more about what it is and how its used.

Unless the FBI happens to catch, correct, and disclose that initial permissions error, Bureau personnel can make unrestricted use of the data, he told The Daily Beast. Thats a massive problem, and this case illustrates why.

The FBI did not respond to questions, leaving unclear whether the agency has reconfigured the programs default settings or determined how many times this has happened with other investigations.

The FBI is not known for upholding rigorous guardrails around sensitive information. It has frequently flouted rules meant to protect Americans privacy and searched through National Security Agency datasets on Americans without court orders, as the Foreign Intelligence Surveillance Court revealed in an unsealed finding earlier this year.

Law enforcement agents were sifting through data obtained through warrantless surveillance under Section 702 of the Foreign Intelligence Surveillance Act (FISA) for other cases on organized crime and health-care fraud, the court said. And the FBI was warned against this kind of behavior and told how it could jeopardize Americans protections against unreasonable searches and seizures back in 2018.

A 2013 report from the American Civil Liberties Union noted how the FBIs massive, digital Investigative Data Warehousewhich became supercharged by the Patriot Act after the Sept. 11 attackseventually came under fire from Congress when it demanded an audit. When the FBI refused to give auditors access, Congress paused funding temporarily but eventually the matter became largely forgotten.

Most privacy experts who spoke to The Daily Beast on Thursday commended the FBI for addressing the problem, but warned that this episode foreshadows more serious privacy debacles down the line.

Our privacy should not be dependent on the actions of individual prosecutors and FBI agents. While its good that the defendant in this case was notified and the government is taking steps to delete the data, the government is still ingesting huge amounts of data and Palantir makes this data widely accessible by default, said ngel Daz, a privacy expert who teaches at the University of California Los Angeles law school. There may be other cases where this same kind of wide data sharing goes on undetected.

We are deeply concerned about what happened here. We are investigating the situation and Mr. Griffiths potential legal remedies.

Brian E. Klein, defense attorney for Virgil Griffith

Aside from the potential privacy concerns for the American public in general, this slip-up could complicate the case that federal prosecutors have against Griffith if his defense team claims it somehow tainted the investigation.

We are deeply concerned about what happened here. We are investigating the situation and Mr. Griffiths potential legal remedies, said Brian E. Klein, his defense attorney in Los Angeles.

This is not the first time weve seen the FBI wrongly searching through peoples sensitive emails and data in ways that the Fourth Amendment prohibits, said Patrick Toomey, an attorney who specializes in national security matters at the ACLU.

A similar miscalculation by the FBI in New York ruined its 2018 case against Ali Sadr Hashemi Nejad, a banker accused of dodging U.S. sanctions by hiding how Iranian money paid for a $500 million housing project in Venezuela.

In that case, the Manhattan district attorney obtained a ton of information with a search warrant and handed it off to the FBI. Instead of identifying the relevant stuff and ditching the rest, federal agents vigorously sorted through it allwithout getting their own search warrant.

U.S. District Judge Alison J. Nathan dismissed the case this past February. In her order, she ripped into FBI agents who uploaded raw email search-warrant returns into its BIDMAS database and searched this database hundreds of times, contrary to the Governments representations and almost certainly in violation of the Constitution. And she excoriated prosecutors who tried to bury the evidence.

This kind of unauthorized access poses a greater danger to the publics liberty now because law enforcement relies on such powerful surveillance tools and analytical software that can piece it all together, said Michael German, a former FBI special agent who is now scholar at the Brennan Center for Justice. And repeat mistakes could hurt future investigations, he warned.

If the judge doesnt feel confident the FBI will honor the limits they impose, theyll be less likely to grant them permission in the future, German said. The FBI has shown that it is ineffective in enforcing limits.

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‘Those Arrests Were Improper’: Pro-Life Activist David Benham Moves Forward with Lawsuit Against NC Officials – CBN News

Posted: at 12:32 pm

Pro-life activist David Benham, along with four other anti-abortion advocates, filed an amended complaint Monday against North Carolina officials after they were arrested last year for offering prayer to women while standing outside an abortion clinic.

Benham is president of Cities4Life, an organization that provides counseling to women on their way to abortion clinics by supporting them with prayer and guidance.

In April 2020, Benham and other representatives of pro-life groups were across the street from an abortion clinic in Charlotte, North Carolina to offer counseling and prayer to expectant mothers considering abortion.

As CBN News reported, police arrested the activists and cited them for violating COVID-19 restrictions and guidelines, even though they were following all the health and safety requirements including social distancing.

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The plaintiffs are being represented by the conservative law firm, Alliance Defending Freedom (ADF).

Denise Harle, senior counsel with ADF, told The Christian Post (CP) that the activists chose to amend their complaint (link) because the charges against them were later dropped - showing that their arrests were "improper."

"The dropping of the charges actually underscores why this amended complaint should prevail," Harle said. "What we've added in this amended complaint is Fourth Amendment claims, based on the unlawful stop, unlawful detention, and unlawful arrests, the fact that the city and the county dropped the charges against David Benham shows that those arrests were improper."

She added, "The fact that they're not even pursuing the charges is a pretty clear admission that there's no there, there. And that's exactly what we're bringing to the federal court in this amended complaint is that those arrests themselves were a violation of the Fourth Amendment."

Harle believes the arresting officers violated the First Amendment, which was "motivated by a targeting of free speech and animosity toward certain religious views."

"The government certainly is welcomed to protect public health, but if it is going to do that, it needs to do so in an evenhanded way that has a rational basis," she explained to the CP. "What it can't do is enact a law and then apply it unfairly only to select groups of people whose viewpoint the government disagrees with."

During a previous interview with CBN News, Benham said we need to love our neighbors and not let our pro-life views be silenced because of COVID.

"It's viewpoint discrimination. They're using this COVID emergency as an opportunity to grasp and silence our voices so we have a constitutional issue on our hands and we really have to stand against it," Benham said.

Watch Charlotte police arrest Benham below:

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Budget, ARPA funding to be considered Thursday by UG Commission Welcome to Wyandotte Daily! – Wyandotte Daily

Posted: at 12:32 pm

The Unified Government Commission will hold a budget workshop and set the maximum mill levy at 5 p.m. Thursday, Aug. 25.

On the 7 p.m. Aug. 25 UG Commission agenda, the commission is scheduled to vote on an ordinance and resolution to accept $55,383,872 in federal American Rescue Plan funds to the city of Kansas City, Kansas, and $32,132,644 to Wyandotte County from ARPA funds. Much of the funding, $31 million for the city and $11 million for the county, will go toward replacement of local government losses due to COVID-19, according to the proposal.

About $11.74 million is proposed to be spent on immediate needs. Those immediate needs include $5.9 million for public health; $2.37 million for negative economic impacts; $1.6 million for disproportionately impacted communities; and $1.92 million for online processes and technology investment.

The UG has a few years to make decisions on how to spend the remainder of the ARPA funding.

Also on the 7 p.m. agenda is a resolution to allocate $1.85 million in local fiscal recovery funds received by Wyandotte County to be used to address and prevent housing insecurity and other negative economic impact from COVID-19 as part of the ARPA.

Several planning and zoning items also are on the 7 p.m. UG meeting agenda Aug. 25, including:

1201 N. 98th, change of zone from agriculture to planned commercial district for construction of Camping World. 8919 Leavenworth Road, change of zone from single-family and limited business district to planned general business district for a proposed gas station and convenience store, recommended for denial. 609 and 611 S. 75th St., change of zone from single family to twofamily district for an existing duplex. 617 and 619 S. 75th St., change of zone from single-family district to two-family district for an existing duplex. 7852 Leavenworth Road, special use permit for temporary use of land to park salt plow trucks, Loyd A. Clay. 2003 to 2005 N. 5th St., renewal of special use permit for live entertainment, Jeffrey E. Hollinshed. 5917 N. 123rd St., vacation of electrical utility easement. 4501 Douglas Ave., preliminary and final plan review for office warehouse with initial use a laydown area, Mike Sanders with Nampara Properties. 4605 Shearer Road, preliminary and final plan review for an office warehouse with the initial use a laydown area, Mike Sanders with Nampara Properties. 88 S. 7th St. Trafficway, ordinance rezoning property from single-family district to two-family district. 2716 and 2718 S. 53rd St., ordinance rezoning property from single-family district to two-family district. 3860 Bell Crossing Drive, ordinance rezoning property from single-family district to agriculture district. 5837 Leavenworth Road, ordinance vacating right-of-way. 415 and 417 Stine Ave., ordinance vacating an alley. 1110 Merriam Lane, ordinance authorizing aspecial use permit for continuation of a performance auto service shop. 3847 and 3848 N. 123rd St., ordinance authorizing special use permit for continuation of a short-term rental air BNB. 4449 Rainbow Blvd., ordinance authorizing a special use permit for a short-term rental air BNB. 734 S. 76th St., ordinance authorizing a special use permit to keep two cows on the property. 11827 Marxen Road, special use permit for a home occupation short-term rental air BNB. 3800 Weaver Court, ordinance authorizing a special use permit for continuation of a Homestead Montessori Farm school within a residence. Resolution designating UG depositories and eligible institutions for purposes of receiving UG funds for investment and receiving requests for bids for investment of its idle funds. A resolution adopting the fourth amendment to the downtown campus development agreement in the 5th and Minnesota area. The amendment reduces the square footage of the Reardon Center, prioritizes the distribution of CID proceeds and extends the deadline. A resolution approving the fourth amendment to the KC Foodie Park development agreement, extending planning and construction deadlines. This project is at the former Indian Springs property near 47th and State. A resolution approving two agreements on the Historic Preservation Fund Grants. The agreements are with the Kansas Historical Society and State Preservation Office. One grant to the Downtown KCK Historic Commercial District of $21,000, will include $12,500 from the state with federal grant funds, and a local match will come from the UG planning departments long-range planning budget, including in-kind contributions. Another agreement is for $30,000 for a Downtown KCK Historic Churches Multiple Listings Designation. Of that amount, $18,000 will be from the state with federal grant funds, and a local match will be from the UG planning departments long-range planning budget, including in-kind contributions. The Land Bank includes many properties to be considered at this meeting. The properties are on Hallock, Valley, Lafayette, Stewart, Lathrop, 75th, Freeman, 7th, Troup, Quindaro, Cleveland, Minnie, and 6th. To see a complete list of the properties, see the agenda at https://civicclerk.blob.core.windows.net/stream/WYCOKCK/aa6f9c8fe9.pdf?sv=2015-12-11&sr=b&sig=g2zYjO14v5kk5LaWoqCisHRIKpPNA0K8pOy%2FqCuaYGo%3D&st=2021-08-25T16%3A24%3A12Z&se=2022-08-25T16%3A29%3A12Z&sp=r&rscc=no-cache&rsct=application%2Fpdf.

The 5 p.m. special session and the 7 p.m. meeting will be conducted through a Zoom internet meeting, wit public access available through Zoom, telephone, and from the lobby of City Hall, 701 N. 7th St. The meeting will be shown on UGTV cable television and on YouTube.

The 5 p.m. session is on Zoom at https://us02web.zoom.us/j/82359399700?pwd=aVNDNTZSdFQ5WmxMcXVXbGdHdzB4UT09.The passcode is 113265.The Webinar ID is 823 5939 9700.To connect by telephone, call 877-853-5257 or 888-475-4499.

The 7 p.m. Zoom meeting is at https://us02web.zoom.us/j/85117594728?pwd=QnN3eXl0cGYwM2dHRjFMZ0l2SHl0UT09.The passcode is 702899.The Webinar ID is 851 1759 4728.To connect by telephone, call toll-free 877-853-5257 or 888-475-4499.

The UG 7 p.m. agenda is online at https://civicclerk.blob.core.windows.net/stream/WYCOKCK/aa6f9c8fe9.pdf?sv=2015-12-11&sr=b&sig=g2zYjO14v5kk5LaWoqCisHRIKpPNA0K8pOy%2FqCuaYGo%3D&st=2021-08-25T16%3A24%3A12Z&se=2022-08-25T16%3A29%3A12Z&sp=r&rscc=no-cache&rsct=application%2Fpdf.

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CompactFlash – Wikipedia

Posted: at 12:31 pm

The CompactFlash interface is a 50-pin subset of the 68-pin PCMCIA[13] connector. "It can be easily slipped into a passive 68-pin PCMCIA Type II to CF Type I adapter that fully meets PCMCIA electrical and mechanical interface specifications", according to compactflash.org.[14] The interface operates, depending on the state of a mode pin on power-up, as either a 16-bit PC Card (0x7FF address limit) or as an IDE (PATA) interface.[15]

Unlike the PC Card interface, no dedicated programming voltages (Vpp1 and Vpp2) are provided on the CompactFlash interface.[16]

CompactFlash IDE mode defines an interface that is smaller than, but electrically identical to, the ATA interface. The CF device contains an ATA controller and appears to the host device as if it were a hard disk. CF devices operate at 3.3 volts or 5 volts, and can be swapped from system to system. CompactFlash supports C-H-S and 28-bit logical block addressing (CF 5.0 introduced support for LBA-48). CF cards with flash memory are able to cope with extremely rapid changes in temperature. Industrial versions of flash memory cards can operate at a range of 45C to +85C.

NOR-based flash has lower density than newer NAND-based systems, and CompactFlash is therefore the physically largest of the three memory card formats introduced in the early 1990s, being derived from the JEIDA/PCMCIA Memory Card formats. The other two are Miniature Card (MiniCard) and SmartMedia (SSFDC). However, CF did switch to NAND type memory later. The IBM Microdrive format, later made by Hitachi, implements the CF Type II interface, but is a hard disk drive (HDD) as opposed to solid-state memory. Seagate also made CF HDDs.

CompactFlash IDE (ATA) emulation speed is usually specified in "x" ratings, e.g. 8x, 20x, 133x. This is the same system used for CD-ROMs and indicates the maximum transfer rate in the form of a multiplier based on the original audio CD data transfer rate, which is 150 kB/s.

where R = transfer rate, K = speed rating. For example, 133x rating means transfer speed of: 133150kB/s = 19,950kB/s 20MB/s.

These are manufacturer speed ratings. Actual transfer speed may be higher, or lower, than shown on the card[17] depending on several factors. The speed rating quoted is almost always the read speed, while write speed is often slower.

For reads, the onboard controller first powers up the memory chips from standby. Reads are usually in parallel, error correction is done on the data, then transferred through the interface 16 bits at a time. Error checking is required due to soft read errors. Writes require powerup from standby, wear leveling calculation, a block erase of the area to be written to, ECC calculation, write itself (an individual memory cell read takes around 100 ns, a write to the chip takes 1ms+ or 10,000 times longer).

Because the USB 2.0 interface is limited to 35 MB/s and lacks bus mastering hardware, USB 2.0 implementation results in slower access.

Modern UDMA-7 CompactFlash Cards provide data rates up to 145 MB/s[18] and require USB 3.0 data transfer rates.[19]

A direct motherboard connection is often limited to 33 MB/s because IDE to CF adapters lack high speed ATA (66 MB/s plus) cable support. Power on from sleep/off takes longer than power up from standby.

Many 1-inch (25mm) hard drives (often referred to by the trademarked name "Microdrive") typically spin at 3600 RPM, so rotational latency is a consideration, as is spin-up from standby or idle. Seagate's 8 GB ST68022CF drive[20] spins up fully within a few revolutions but current drawn can reach up to 350 milliamps and runs at 40-50 mA mean current. Its average seek time is 8 ms and can sustain 9 MB/s read and write, and has an interface speed of 33 MB/s. Hitachi's 4 GB Microdrive is 12 ms seek, sustained 6 MB/s.

The CF 5.0 Specification supports capacities up to 128 PiB using 48-bit logical block addressing (LBA).[21] Prior to 2006, CF drives using magnetic media offered the highest capacities (up to 8 GiB). Now there are solid-state cards with higher capacities (up to 512 GB).[22]

As of 2011, solid-state drives (SSDs) have supplanted both kinds of CF drive for large capacity requirements.

SanDisk announced its 16 GB Extreme III card at the photokina trade fair, in September, 2006.[23] That same month, Samsung announced 16, 32 and 64 GB CF cards.[24] Two years later, in September, 2008, PRETEC announced 100 GB cards.[25]

Seagate announced a 5 GB "1-inch hard drive" in June, 2004,[26] and an 8 GB version in June, 2005.[27]

In early 2008, the CFA demonstrated CompactFlash cards with a built in SATA interface.[28] Several companies make adapters that allow CF cards to be connected to PCI, PCMCIA, IDE and SATA connections,[29] allowing a CF card to act as a solid-state drive with virtually any operating system or BIOS, and even in a RAID configuration.

CF cards may perform the function of the master or slave drive on the IDE bus, but have issues sharing the bus. Moreover, late-model cards that provide DMA (using UDMA or MWDMA) may present problems when used through a passive adapter that does not support DMA.[30]

Original PC Card memory cards used an internal battery to maintain data when power was removed. The rated life of the battery was the only reliability issue. CompactFlash cards that use flash memory, like other flash-memory devices, are rated for a limited number of erase/write cycles for any "block." While NOR flash has higher endurance, ranging from 10,000 to 1,000,000, they haven't been adapted for memory card usage. Most mass storage usage flash are NAND based. As of 2015[update] NAND flash were being scaled down to 16nm. They are usually rated for 500 to 3,000 write/erase cycles per block before hard failure.[31] This is less reliable than magnetic media.[32] Car PC Hacks[33] suggests disabling the Windows swap file and using its Enhanced Write Filter (EWF) to eliminate unnecessary writes to flash memory.[34] Additionally, when formatting a flash-memory drive, the Quick Format method should be used, to write as little as possible to the device.

Most CompactFlash flash-memory devices limit wear on blocks by varying the physical location to which a block is written. This process is called wear leveling. When using CompactFlash in ATA mode to take the place of the hard disk drive, wear leveling becomes critical because low-numbered blocks contain tables whose contents change frequently. Current CompactFlash cards spread the wear-leveling across the entire drive. The more advanced CompactFlash cards will move data that rarely changes to ensure all blocks wear evenly.

NAND flash memory is prone to frequent soft read errors.[33] The CompactFlash card includes error checking and correcting (ECC) that detects the error and re-reads the block. The process is transparent to the user, although it may slow data access.

As a flash memory device is solid-state, it is less affected by shock than a spinning disk.

The possibility for electrical damage from upside-down insertion is prevented by asymmetrical side slots, assuming that the host device uses a suitable connector.

Small cards consume around 5% of the power required by small disk drives and still have reasonable transfer rates of over 45MB/s for the more expensive 'high-speed' cards.[35] However, the manufacturer's warning on the flash memory used for ReadyBoost indicates a current draw in excess of 500 mA.

CompactFlash cards for use in consumer devices are typically formatted as FAT12 (for media up to 16 MB), FAT16 (for media up to 2 GB, sometimes up to 4 GB) and FAT32 (for media larger than 2 GB). This lets the devices be read by personal computers but also suits the limited processing ability of some consumer devices such as cameras.

There are varying levels of compatibility among FAT32-compatible cameras, MP3 players, PDAs, and other devices. While any device that claims FAT32-capability should read and write to a FAT32-formatted card without problems, some devices are tripped up by cards larger than 2 GB that are completely unformatted, while others may take longer to apply a FAT32 format.

The way many digital cameras update the file system as they write to the card creates a FAT32 bottleneck. Writing to a FAT32-formatted card generally takes a little longer than writing to a FAT16-formatted card with similar performance capabilities. For instance, the Canon EOS 10D writes the same photo to a FAT16-formatted 2 GB CompactFlash card somewhat faster than to a same speed 4 GB FAT32-formatted CompactFlash card, although the memory chips in both cards have the same write speed specification.[36] Although FAT16 is more wasteful of disk space with its larger clusters, it works better with the write strategy that flash memory chips require.

The cards themselves can be formatted with any type of file system such as Ext, JFS, NTFS, or by one of the dedicated flash file systems. It can be divided into partitions as long as the host device can read them. CompactFlash cards are often used instead of hard drives in embedded systems, dumb terminals and various small form-factor PCs that are built for low noise output or power consumption. CompactFlash cards are often more readily available and smaller than purpose-built solid-state drives and often have faster seek times than hard drives.

When CompactFlash was first being standardized, even full-sized hard disks were rarely larger than 4 GB in size, and so the limitations of the ATA standard were considered acceptable. However, CF cards manufactured after the original Revision 1.0 specification are available in capacities up to 512 GB. While the current revision 6.0 works in [P]ATA mode, future revisions are expected to implement SATA mode.

CE-ATA is a serial MMC-compatible interface based on the MultiMediaCard standard.[39][40]

A variant of CompactFlash known as CFast is based on the Serial ATA (SATA) interface, rather than the Parallel ATA/IDE (PATA) bus for which all previous versions of CompactFlash are designed. CFast is also known as CompactFast.

CFast 1.0/1.1 supports a higher maximum transfer rate than current CompactFlash cards, using SATA 2.0 (300MB/s) interface, while PATA is limited to 167MB/s using UDMA 7.

CFast cards are not physically or electrically compatible with CompactFlash cards. However, since SATA can emulate the PATA command protocol, existing CompactFlash software drivers can be used, although writing new drivers to use AHCI instead of PATA emulation will almost always result in significant performance gains. CFast cards use a female 7-pin SATA data connector, and a female 17-pin power connector,[41] so an adaptor is required to connect CFast cards in place of standard SATA hard drives which use male connectors.

The first CFast cards reached the market in late 2009.[42] At CES 2009, Pretec showed a 32GB CFast card and announced that they should reach the market within a few months.[43] Delock began distributing CFast cards in 2010, offering several card readers with USB 3.0 and eSATAp (power over eSATA) ports to support CFast cards.

Seeking higher performance and still keeping a compact storage format, some of the earliest adoptors of CFast cards were in the gaming industry (used in slot machines), as a natural evolution from the by then well-established CF cards. Current gaming industry supporters of the format include both specialist gaming companies (e.g. Aristocrat Leisure) and OEMs such as Innocore (now part of Advantech Co., Ltd.).

The CFast 2.0 specification was released in the second quarter of 2012, updating the electrical interface to SATA 3.0 (600MB/s). As of 2014, the only product employing CFast 2.0 cards was the Arri Amira digital production camera,[44] allowing frame rates of up to 200 fps; a CFast 2.0 adapter for the Arri Alexa/XT camera was also released.[45]

On 7 April 2014, Blackmagic Design announced the URSA cinema camera, which records to CFast media.[46]

On 8 April 2015, Canon Inc. announced the XC10 video camera, which also makes use of CFast cards.[47] Blackmagic Design also announced that its URSA Mini will use CFast 2.0.[citation needed]

As of October 2016, there are a growing number of cameras, video recorders, and audio recorders that use the faster data rates offered by CFast media.

As of 2017, in the wider embedded electronics industry, transition from CF to CFast is still relatively slow, probably due to hardware cost considerations and some inertia (familiarity with CF) and because a significant part of the industry is satisfied with the lower performance provided by CF cards, thus having no reason to change. A strong incentive to change to CFast for embedded electronics companies using designs based on Intel PC architecture is the fact that Intel has removed native support for the (P)ATA interface a few design platforms ago and the older CPU/PCH generations now have end-of-life status.

In September 2016, the CompactFlash Association announced a new standard based on PCIe 3.0 and NVMe, CFexpress.[48] In April 2017, the version 1.0 of the CFexpress specification was published, with support for two PCIe 3.0 lanes in an XQD form-factor for up to 2 GB/s.[49]

The only physical difference between the two types is that Type I devices are 3.3mm thick while Type II devices are 5mm thick.[50] Electrically, the two interfaces are the same except that Type I devices are permitted to draw up to 70 mA supply current from the interface, while type II devices may draw up to 500 mA.

Most Type II devices are Microdrive devices (see below), other miniature hard drives, and adapters, such as a popular adapter that takes Secure Digital cards.[51][52] A few flash-based Type II devices were manufactured, but Type I cards are now available in capacities that exceed CF HDDs. Manufacturers of CompactFlash cards such as Sandisk, Toshiba, Alcotek and Hynix offer devices with Type I slots only. Some of the latest DSLR cameras, like the Nikon D800, have also dropped Type II support.[53]

Microdrive was a brand of tiny hard disksabout 25mm (1inch) widein a CompactFlash Type II package. The first was developed and released in 1999 by IBM, with a capacity of 170 MB. IBM sold its disk drive division, including the Microdrive trademark, to Hitachi in 2002. Comparable hard disks were also made by other vendors, such as Seagate and Sony. They were available in capacities of up to 8 GB but have been superseded by flash memory in cost, capacity, and reliability, and are no longer manufactured.[54]

As mechanical devices, CF HDDs drew more current than flash memory's 100 mA maximum. Early versions drew up to 500 mA, but more recent ones drew under 200 mA for reads and under 300 mA for writes. (Some devices used for high speedsuch as Readyboost, which had no low-power standby modeexceeded the 500 mA maximum of the Type II standard.) CF HDDs were also susceptible to damage from physical shock or temperature changes. However, CF HDDs had a longer lifespan of write cycles than early flash memories.

The iPod mini, Nokia N91, iriver H10 (5 or 6 GB model), PalmOne LifeDrive, and Rio Carbon used a Microdrive to store data.

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FT: Toronto FC 1 – 3 CF MontrealGame Thread, Preview, and How to Watch – Waking The Red

Posted: at 12:31 pm

Live Match Thread

FT - WELP.

90 + 3 - TFC headed to lucky number 13 defeats.

87 - TORONTO SUBSTITUTION:

82 - Quioto in on a breakaway and scores, waved offside. VAR is checking ... and the call stands. Phew.

78 - TORONTO TRIPLE SUBSTITUTION:

75 - GOAL! TFC 1 - 3 CFM - Quioto subs on after injury and scores within 10 minutes.

74 - YELLOW CARD TFC - Gonzalez.

68 - GOAL! TFC 1 -2 CFM Torres gets on the end of a terrific wide attack.

67 - SAVE! Q drops to collect a shot from distance from Wanyama.

60 - YELLOW CARD TFC - Kemar Lawrence concedes a FK in a dangerous spot.

58 - GOAL! TFC 1 - 1 CFM - Achara buries it after getting on a nice cross from Yeferson.

56 - Toronto getting lots of possession with 2 shots total, one on target to show for it.

45 - Were back at Stade Saputo.

HT - Yuck.

45 + 2 - ET in the first half ...

45 - CHANCE! Auro Jr. jumps on a tasty loose ball and shoots from distance.

42 - SAVE! Q robs striker Sam Piette from his brace. And saves a free header off the resulting corner.

36 - SAVE! - Q robs Jonsson and then a parade of corners with no joy.

30 - TORONTO SUBSTITUTION - OMG 1st HALF SUBS

23 - GOAL! TFC 0 - 1 CFM. TFC give away a free kick directly outside the box, and Q stops the initial shot, but coughs the rebound to Sammy Piete, who buries it.

20 - SAVE! Q robs ZBG, though the play is whistled offside.

14 - CHANCE? Poz to Yef and straight at the keeper.

9 - YELLOW CARD ISSUED TO CFM

8 - Thats 4 mins without catastrophe! YAAAY!

4 - VAR awards a straight red to Noble Okello.

4 - Oh No. Getting reviewed by VAR as well.

2 - CFM CHANCE! Torres just over the bar.

1 - Digging the dubstep loop in the background!

&:34PM EST - Ok, one more ad break until destiny.

7:02PM EST - I always start the day worried that Ill have nothing to talk about on the Tunnel Club, WTR x Footy Talks Post-Game Twitter Spaces, and then by the time the line-up drops, I have PAGES of notes.

6:29PM EST - So, Lineups should drop soon. get your prediction in.

Heres how Toronto FC will line up today vs. CF Montreal:

And heres how the home side will set up:

TORONTO, Ont. - In a week that was billed as the most important in Torontos season, the Reds walked away with zero points. The Reds who now find themselves in a three match winless streak, travel to Stade Saputo for a matchup with CF Montreal.

Kick-off is slated for 7:30 PM and as usual can be watched on TSN.

This is not a position that TFC have found themselves in the recent past in this matchup. With only two points in the last six matches, the Reds are now 12 points out of a playoff spot and 13 points behind CF Montreal, who occupy the seventh seed in the Eastern Conference.

Regardless of their place in the standings, the Reds wont need much motivation as they take on their Canadian rivals in a rare Friday night match. In addition to making life a little bit more difficult for CF Montreal as they work towards clinching a playoff berth, the Reds will also want to reverse their opening day 4-2 loss to Montreal.

The Club is adamant that the playoffs are still not out of reach, and that this squad has what it takes to make the playoffs. Whether the Reds miraculously make the playoffs or not, we already know that there will be changes coming to this squad in the offseason. For the management and coaching staff, games like these will help determine who from the current squad will remain a Red in 2022.

Heading into Friday nights matchup, Ayo Akinola (ACL), Jozy Altidore (lower body), and Ralph Priso (lower body), continue to remain out and unavailable for selection. Striker Dom Dwyer and Tsubasa Endoh are listed as questionable.

If Dwyer is healthy, Perez may be tempted to lean on him for this matchup. While Dwyer hasnt featured much this season, he does have a successful record scoring against Montreal. In 11 games against Montreal, Dwyer has scored 10 goals on 40 shots, topping Altidores record of eight goals in 13 matches against CF Montreal.

Montreal is coming into this matchup on a four match unbeaten run, in which they have won twice and drawn each of their last two games. Montreal sport a strong home record this season where theyve secured five of their seven wins this season, including two wins and a draw since returning to the Stade Saputo.

TFC Head Coach Javier Perez will need to plan for Montreal midfielder Djordje Mihailovic, who has been an influential part of the CF Montreal offence on this unbeaten run. The American midfielder has been involved in three of the last five Montreal goals, and this has been involved in 10 Montreal goals, scoring on four and assisting on six.

Through 21 games this season, Montreal has scored 27 goals and conceded just 26 times so far this season. On the offensive side, Montreal has been able to rely on eight players who have scored more than one goal a game, including forward Mason Toye who leads the club in that department, but is unavailable for Friday nights matchup through a shoulder injury.

Along with Toye, Montreal will be without midfielder Lassi Lappalainen (groin) and defender Rbert Thorkelsson (adductor), while forward Romell Quioto is listed as questionable.

Defensively, the Club has become accustomed to playing in a lot of tight matches. Montreals last 15 matches have all been decided by one goal or less. Except for one match against FC Cincinnati where Montreal conceded four times en route to a 5-4 win, there have been lots of 2-1 and 1-0 score lines. A big part of that has been through the partnership of Victor Wanyama and Canadian International Samuel Piette. Ahead of Friday nights matchup, the TFC Head Coach made special note of the role that the midfielders play to help Montreal stay strong defensively and help transition the attack.

The Reds and Montreal have exchanged wins over their last four matches, with each club winning on two occasions, with Montreal winning most recently on opening day. The last time that either team won consecutive matchups in this fixture was in 2019 and 2020 when the Reds won four consecutive matches, including the 4-3 thriller at the MLS is Back Tournament, as well as the most recent time these clubs matched up at Stade Saputo. On that occasion, the Reds walked away with a 2-1 victory.

However the Reds season has been going, a derby match against Montreal is always circled on the calendar. For Reds faithful looking for positives this season, a win on Saturday would temporarily ease the troubles of the 2021 season.

Match Details

Opponent: CF MontrealStadium: Stade Saputo, Montreal, QCKick-off: 7:30 PM ESTWatch: TSN

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Carmel dad raffles off prized bourbon collection to find a cure for his son – WTHR

Posted: at 12:31 pm

Doctors diagnosed him with cystic fibrosis through a blood screen as a newborn.

INDIANAPOLIS A father in Carmel is raffling off his rare whiskey collection to raise money for the Cystic Fibrosis Foundation.

He wants to find a cure for his young son.

At nearly 2 years old, Wyatt Perdue is an active toddler with seemingly boundless energy.

His home and family in Carmel are in constant motion.

But life for Wyatt also includes a devastating genetic disorder. Doctors diagnosed him with cystic fibrosis through a blood screen as a newborn.

"He was probably ten days old when we got the phone call from our pediatrician," said Anne Perdue, Wyatt's mom. "After the shock of it we just tried to educate ourselves and try to learn as much as we could about it."

Wyatt's parents, Nathan and Anne, are each one of the 10 million symptomless carriers of the defective gene that causes cystic fibrosis.

"So that gave us a 25% chance of having a child born with CF, which did come as a shock because we didn't have family history and our oldest son Cooper doesn't have CF," Nathan Perdue explained.

The disease affects the lungs and pancreas, causing persistent infections and it limits the ability to breathe, over time.

Wyatt's condition will get progressively worse.

His life expectancy is just 40 to 48 years old.

But therapies and treatments have improved dramatically just in the last decade, bringing this family and others living with CF a lot of hope.

"When he was 6 months old, he had access to a drug that didn't exist 10 years ago," Nathan said. "That's encouraging."

They want that progress to continue, which takes money and research.

So Wyatt's dad is now using a hobby to make it happen.

A serious whiskey and bourbon connoisseur, Nathan partnered with the Kentucky Derby Museum to raffle off part of his prized Pappy Van Winkle collection as a fundraiser.

"I had seen similar fundraising events where they had auctioned off Pappy Van Winkle or other allocated bourbons in the past and I'd seen how successful they were," Perdue said. "I thought, 'You know, what an amazing way to raise awareness and funds.'"

The collection includes the following bourbons:

On the museum's website, people can buy a raffle ticket for $100, in hopes of getting the big prize next month. Here's what is included in the prize:

Only 4,000 tickets will be sold.

"The winner gets five bottles of Pappy Van Winkle that's been valued at over $18,000," Perdue said.

Besides the bottles of bourbon, the winner also receives a hotel stay and a VIP experience at the Kentucky Derby Museum.

But the value goes well beyond these bottles and prizes.

Most of the proceeds from the raffle go to the Cystic Fibrosis Foundation to help people just like Wyatt.

A small portion also goes toward the education department at the Kentucky Derby Museum.

The CF Foundation right now is working on a gene editing process that Perdue says could lead to a cure.

"To think that a small part of Wyatt's legacy is attached to those bottles is pretty amazing," he said. "So if this is in a small way can add research dollars to be able to have that happen in his lifetime? That would just be...that would mean the world to us."

He's confident a cure will happen for his son and he saved a couple bottles of Pappy Van Winkle bourbon to toast when it does.

The drawing for the raffle is Sept. 24 at 10 a.m. EST on the museum's Facebook page.

Ticket sales continue through Sept. 23. For more information, click here.

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Here’s Why You Should Retain CF Industries (CF) Stock Now – Zacks.com

Posted: at 12:31 pm

CF Industries Holdings, Inc. (CF Quick QuoteCF - Free Report) is expected to gain from higher demand for nitrogen fertilizers and higher prices amid headwinds stemming from increased natural gas costs and maintenance turnarounds.

Shares of the fertilizer maker are up 34% in the past year compared with 50% surge of the industry.

Image Source: Zacks Investment Research

Lets discuss why this Zacks Rank #3 (Hold) stock is worth retaining at the moment.

CF Industries is benefiting from higher nitrogen fertilizer demand in major markets. Global nitrogen demand is expected to remain strong this year. Industrial demand has also recovered from the pandemic-related disruptions. Higher economic activities have contributed to higher industrial consumption of nitrogen products. In 2021, demand for nitrogen is expected to be driven by higher corn acres in the United States.

Higher crop prices, increased planted corn acres and improved farm economics are likely to increase demand in Brazil this year. Urea tender volumes are also expected remain healthy in India in 2021.

CF Industries is also benefiting from higher nitrogen prices. The company is benefiting from recovery in nitrogen pricing in 2021 on the back of lower supply resulting from reduced operating rates across Europe and Asia. Prices are also expected to gain from higher commodity crop futures prices. Higher nitrogen prices have boosted the companys top and the bottom line in the last reported quarter. CF Industries expects nitrogen pricing to be positive in 2021 as global nitrogen supply and demand balance have been tightened by high energy prices in Asia and Europe as well as the need to replenish coarse grains stocks globally.

The company continues to generate strong cash flows and is focused on boosting shareholders value. It is committed toward returning cash to shareholders through opportunistic share buybacks and quarterly dividends.

CF Industries is exposed to headwinds from higher natural gas cost in 2021. It witnessed higher year-over-year costs in first-half 2021. The increase was partly driven by higher natural gas costs in the U.K. and rise in gas prices in North America stemming from severe winter weather. The company expects natural gas costs to increase year over year in 2021. As such, higher natural gas costs may increase its cost of sales and hurt margins.

The company also faces headwind from maintenance turnarounds in 2021, which is expected to hurt production. Its ammonia production is expected to be impacted by planned maintenance and turnaround activities and natural gas-driven curtailments. In addition to normal turnarounds this year, the company is also executing those that were deferred from 2020.

Sales volumes are also expected to decline in 2021 on a year-over-year basis due to reduced year-end inventory and lower expected production due to maintenance.

Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE Quick QuoteNUE - Free Report) , Dow Inc. (DOW Quick QuoteDOW - Free Report) and Cabot Corporation (CBT Quick QuoteCBT - Free Report) .

Nucor has a projected earnings growth rate of around 494% for the current year. The companys shares have soared 156.7% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of todays Zacks #1 Rank stocks here.

Dow has an expected earnings growth rate of around 403.01% for the current year. The companys shares have gained 38.2% in the past year. It currently holds a Zacks Rank #2 (Buy).

Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The companys shares have rallied 37.2% in the past year. It currently carries a Zacks Rank #2.

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Current and future players in the cystic fibrosis market – Pharmaceutical Technology

Posted: at 12:31 pm

The currently available marketed drugs for cystic fibrosis (CF) target multiple aspects of the disease. Inhaled antibiotics are used for the treatment of chronic lung infections, mucolytic agents are used for reducing the viscosity of the mucus in the lungs, pancreatic enzyme replacement therapies (PERTs) are used for the treatment of CF-related exocrine pancreatic insufficiency (EPI), and CF transmembrane conductance regulator (CFTR) modulators enhance CFTR function, targeting the underlying cause of disease. The disease-modifying nature of CFTR modulators has transformed the treatment paradigm for CF over the last decade, setting a trend that is likely to persist to 2030.

More than a dozen pharmaceutical companies make up the current players in the CF market (Figure). Vertex is the clear market leader, dominating the CF space with four marketed CFTR modulators available throughout the seven major markets (7MM) (US, France, Germany, Italy, Spain, UK and Canada), including Kalydeco (ivacaftor), Orkambi (lumacaftor/ivacaftor), Symdeko/Symkevi (tezacaftor/ivacaftor and ivacaftor), and Trikafta/Kaftrio (elexacaftor, tezacaftor, ivacaftor). Since the global approval of Kalydeco in 2012, Vertex has greatly expanded the number of CF-related mutations that are eligible for CFTR modulator treatment across all age groups. Currently, Vertexs Trikafta/Kaftrio is the worlds first triple-combination therapy for which approximately 90% of the CF population will likely be eligible.

While Vertex is currently the only company with products in the CFTR modulator drug class, other players stand out with marketed products in other drug classes. Chiesi possesses two inhaled antibiotic products, Bramitob/Bethkis (tobramycin) in the US and five major European markets (5EU) (France, Germany, Italy, Spain and the UK) and Quinsair (levofloxacin) in the 5EU, as well as the mucolytic Bronchitol (mannitol) in the US and the PERT product Pertzye (pancrelipase) in the US. Two other key companies include Viatris (formerly Mylan), which owns the most widely-used inhaled antibiotic therapies, TOBI (tobramycin) and TOBI Podhaler (tobramycin inhalation powder), and Nestl HealthScience, which owns two PERT products, Zenpep (pancrelipase) and Viokace (pancrelipase). The rest of the pharmaceutical companies with marketed drugs used for the treatment of CF include Gilead, Teva, Genentech, AbbVie, Vivus, Horizon Therapeutics and Pharmaxis.

Vertex and AbbVie are the only two companies with clear stakes in both the current and future CF market. Vertex is currently pursuing label expansion for Kalydeco to CF patients ages 0 months to less than 12 months in Canada, and Trikafta/Kaftrio to pediatric CF patients ages 2-5 years in the US and 2-11 years in the 5EU and Canada. Additionally, two new products from this company are expected to launch within the next five years: VX-561 and VX-121 + tezacaftor + VX-561. Currently, AbbVie markets Creon, the most widely used PERT by CF patients. The company has two pipeline agents, ABBV-3067, a CFTR potentiator that is being studied in late-stage Phase II trials alone and in combination with galicaftor (ABBV-2222), a CFTR corrector. If successful, AbbVie will be Vertexs first competitor in the CFTR modulator market.

Laurent Pharmaceuticals is expected to be the only new player in the CF space by 2030. It is currently developing an anti-inflammatory agent, LAU-7b (fenretinide), for reducing the levels of inflammation and the severity of pulmonary infections with Pseudomonas aeruginosa. While this pipeline agent has an innovative mechanism of action and is a first-in-class drug, the company is a novice within the CF field and has not yet brought a drug to market.

Due to the limited number of pipeline agents in late-stage development, GlobalData anticipates that the current players in the CF market will likely maintain their competitive positions by 2030.

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CF Energy Announces Q2 and 1H Result of 2021 – GlobeNewswire

Posted: at 12:31 pm

TORONTO, Aug. 27, 2021 (GLOBE NEWSWIRE) -- CF Energy Corp. (TSX-V: CFY) (CF Energy or the Company, together with its subsidiaries, the Group), an energy provider in the Peoples Republic of China (the PRC or China), announces that the Company has filed its unaudited condensed interim consolidated financial results for the three-month and six-months period ended June 30, 2021 (Q2 2021 and 1H 2021 respectively).

Q2 2021 financial highlights

Continuing Operations

Revenue in Q2 2021 was RMB86.2 million (approx. CAD16.6 million), an increase of RMB9.8 million (approx. CAD1.8 million), or 13%, from RMB76.4 million (approx. CAD14.8 million) for the three-month period ended June 30, 2020 (Q2 2020). The overall increase in revenue mainly reflected the general increase in sales volume with solid economic recovery since COVID-19 was under control.

Gross profit in Q2 2021 was RMB34.5 million (approx. CAD6.6 million), an increase of RMB7.1 million (CAD1.3 million) or 26% from RMB27.4 million (approx. CAD5.3 million) in Q2 2020. Overall Gross margin in Q2 2021 was 40.0%, an increase of 4.2 percentage point from 35.8% in Q2 2020.

EBITDA (Non-IFRS measure) in Q2 2021 was RMB28.3 million (approx. CAD5.4 million), an increase of RMB20.6 million (approx. CAD3.9 million), or 266%, from RMB7.7 million (approx. CAD1.5 million) in Q2 2020. EBITDA in Q2 2021 included non-recurring items. On a comparable basis, after excluding the effects of non-recurring items: the fair value change on derivative financial instrument of RMB2.6 million (approx. CAD0.5 million) (please refer to the MD&A for details) and the recognition of share-based payments of RMB0.7 million (approx. CAD0.1 million), adjusted EBITDA in Q2 2021 was RMB26.4 million (approx. CAD5.0 million), an increase of RMB8.2 million (approx. CAD1.5 million), or 45%, from RMB18.2 million (approx. CAD3.5 million) in Q2 2020.

Net profit in Q2 2021 was RMB14.9 million (approx. CAD2.9 million), an increase of RMB17.1 million (approx. CAD3.3 million), or 795%, from net loss of RMB2.2 million (approx. CAD0.4 million) in Q2 2020. Net profit in Q2 2021 included non-recurring items. On a comparable basis, after excluding the non-recurring items: the fair value change on derivative financial instrument of RMB2.6 million (approx. CAD0.5 million) (please refer to Q2 2021 MD&A for details) and the recognition of share-based payments of RMB0.7 million (approx. CAD0.1 million), the adjusted net profit in Q2 2021 (non-IFRS) was RMB13.0 million (approx. CAD2.5 million), an increase of RMB4.7 million (approx. CAD0.9 million) or 57% from RMB8.3 million (approx. CAD1.6 million) in Q2 2020.

Basic earnings per share (EPS) in Q2 2021 was RMB0.22 (CAD0.04) per share. Adjusted EPS in Q2 2021 was RMB0.19 (CAD0.04) per share (non-IFRS).

1H 2021 financial highlights

Continuing Operations

Revenue in 1H 2021 was RMB167.4 million (approx. CAD32.3 million), an increase of RMB26.1 million (approx. CAD4.9 million), or 18%, from RMB141.3 million (approx. CAD27.4 million) for the six-month period ended June 30, 2020 (1H 2020). The overall increase in revenue mainly reflected the general increase in sales volume with solid economic recovery since COVID-19 was under control.

Gross profit in 1H 2021 was RMB68.1 million (approx. CAD13.1 million), an increase of RMB13.6 million (CAD2.5 million) or 25% from RMB54.5 million (approx. CAD10.6 million) in 1H 2020. Overall Gross margin in 1H 2021 was 40.7%, an increase of 2.1 percentage point from 38.6% in 1H 2020.

EBITDA (Non-IFRS measure) in 1H 2021 was RMB42.9 million (approx. CAD8.3 million), an increase of RMB8.3 million (approx. CAD1.6 million), or 24%, from RMB34.6 million (approx. CAD6.7 million) in 1H 2020. EBITDA in 1H 2021 included non-recurring items. On a comparable basis, after excluding the effects of non-recurring items: the fair value change on derivative financial instrument of RMB3.0 million (approx. CAD0.6 million) (please refer to the MD&A for details) and the recognition of share-based payments of RMB1.0 million (approx. CAD0.2 million), adjusted EBITDA in 1H 2021 was RMB46.9 million (approx. CAD9.1 million), an increase of RMB13.9 million (approx. CAD2.7 million), or 42%, from RMB33.0 million (approx. CAD6.4 million) in 1H 2020.

Net profit in 1H 2021 was RMB17.8 million (approx. CAD3.4 million), an increase of RMB2.9 million (approx. CAD0.5 million), or 18%, from RMB14.9 million (approx. CAD2.9 million) in 1H 2020. Net profit in 1H 2021 included non-recurring items. On a comparable basis, after excluding the non-recurring items: the fair value change on derivative financial instrument of RMB3.0 million (approx. CAD0.6 million) (please refer to MD&A for details) and the recognition of share-based payments of RMB1.0 million (approx. CAD0.2 million), the adjusted net profit in 1H 2021 (non-IFRS) was RMB21.8 million (approx. CAD4.2 million), an increase of RMB8.5 million (approx. CAD1.6 million) or 64% from RMB13.3 million (approx. CAD2.6 million) in 1H 2020.

Basic earnings per share (EPS) in 1H 2021 was RMB0.26 (CAD0.05) per share. Adjusted EPS in 1H 2021 was RMB0.32 (CAD0.06) per share (non-IFRS).

Completion of 2021 Target

Benchmarking against the annual target for the 2021 year, for the half year of 2021, we have achieved up to 40.8% of the revenue, 36.4% of gross profit and 75.4% of net profit targets set for the whole of the 2021 year.

Statement from the Chair

We are very encouraged and please to report to our shareholders the respectable net profit from continuing operations for the first half of 2021 which will place us in a good position to achieve our targets for the 2021 year. With further implementation of the policy of the SYDRC to adjust the natural gas prices chargeable to our customers to take effect from September 1, 2021 and the abolishment of certain pipeline connection related service charges to our customers in Sanya, we expect to face more challenges for the 2021 year. We will continue to do our best to take advantage of the lowering of the natural gas price to explore opportunities to expand our natural gas distribution network and expand our footprint in the natural gas grid, continue with our cost control measures and placing more emphasis on the furtherance of our planned development of the integrated smart energy projects and the EV battery swap station business for sustained future growth and enhancement of return to our shareholders.

The unaudited condensed interim consolidated financial results and Managements Discussion and Analysis (MD&A) can be downloaded from http://www.SEDAR.com or from the Company's website atwww.cfenergy.com.

About CF Energy Corp. (Previously known as: Changfeng Energy Inc.)

CF Energy Corp. is a Canadian public company currently traded on the Toronto Venture Exchange (TSX-V) under the stock symbol CFY. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the PRC. CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC.

TELE-CONFERENCE

A tele-conference will be held following the release of this press release and the results of the Group, details of which will be provided by way of a separate press release in due course.

CONTACT INFORMATION

Corporate Investment RelationsInvestor.relations@changfengenergy.cn

Charles WangExecutive Assistant to CEO & Chair of the Boardzhaoyu.wang@changfengenergy.cn

Frederick WongDirector of the Boardfred.wong@changfengenergy.cn

Mike LiuVP Capital Marketmike.liu@changfengenergy.cn

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, Forward-Looking Statements). All statements, other than statements of historical fact, included or incorporated by reference in this document are Forward-Looking Statements, including statements regarding activities, events or developments that the Company expects or anticipates may occur in the future (including, without limitation, no significant adjustments to the gas selling price and charges for related services imposed by the relevant PRC government, the tourism industry continues to recover from COVID-19 impact and no delay in the development of the electric vehicle battery swap stations or the Haitang Bay Integrated Smart Energy Project). These Forward-Looking Statements can be identified by the use of forward-looking words such as will, expect, intend, plan, estimate, anticipate, believe or continue or similar words or the negative thereof. No assurance can be given that the plans, intentions or expectations or assumptions upon which these Forward-Looking Statements are based will prove to be correct and such Forward-Looking Statements included in this news release should not be unduly relied upon. Although management believes that the expectations represented in such Forward-Looking Statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such Forward-Looking Statements are not a guarantee of performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such Forward-Looking Statements. These factors include, without limitation, no significant and continuing adverse changes in general economic conditions or conditions in the financial, tourism, and gas distribution and electric vehicle markets or delays in the development of key projects. Readers are cautioned that all Forward-Looking Statements involve risks and uncertainties, including those risks and uncertainties detailed in the Companys filings with applicable Canadian securities regulatory authorities, copies of which are available at http://www.sedar.com. The Company urges readers to carefully consider those factors. The Forward-Looking Statements included in this news release are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. This news release contains future oriented financial information and financial outlook information (collectively, "FOFI") (including, without limitation, statements regarding expected average production), and are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraph. The FOFI has been prepared by management to provide an outlook of the Company's activities and results, and such information may not be appropriate for other purposes. The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's reasonable estimates and judgments, however, actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein. Any FOFI speaks only as of the date on which it is made, and the Company disclaims any intent or obligation to update any FOFI, whether as a result of new information, future events or results or otherwise, unless required by applicable laws.

Non-IFRS Financial Measures.

This news release contains financial terms that are not considered in the International Financial Reporting Standards ("IFRS"): EBITDA, Adjusted EBITDA and Adjusted Net Profit. These financial measures, together with measures prepared in accordance with IFRS, provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the Company. The Company's determination of these non-IFRS measures may differ from other reporting issuers, and therefore are unlikely to be comparable to similar measures presented by other companies. Further, these non-IFRS measures should not be considered in isolation or as a substitute for measures of performance or cash flows prepared in accordance with IFRS. These financial measures are included because management uses this information to analyze operating performance and liquidity. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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CF Energy Announces Q2 and 1H Result of 2021 - GlobeNewswire

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