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NASA Calls Russia Irresponsible for Blowing up One of Its Satellites Near International Space Station With Missile – Science Times
Posted: November 15, 2021 at 11:24 pm
Astronauts had to take refuge on board their transport vessel when the International Space Station (ISS) flew dangerously near a field of orbital debris. This was after Russia launched a direct-ascent anti-satellite (DA-ASAT) missile into space on Monday. The rocket blew up one of its own spacecraft and spread thousands of bits of debris into orbit.
As the orbiting lab sailed through a field of orbital debris, or space trash, early Monday morning, flight controllers awoke the seven-person crew of the ISS. They told them to go back to their spacecraft.
According to the US State Department (via Engadget), Russia's anti-satellite missile test produced more than 1,500 pieces of trackable orbital debris, as well as hundreds of thousands of smaller bits.
US Space Command began tracking the space trash in the early hours of the morning, the Associated Presssaid. The station passed through the debris field every 90 minutes, causing the crew to seal and reopen numerous compartments several times during the day.
The four American astronauts, one German astronaut, and two Russian astronauts onboard the International Space Station must remain vigilant for the next few days.
(Photo : Wikimedia Commons)The International Space Station as seen from the departing Space Shuttle Discovery during STS-119. In view are the four pairs of solar arrays mounted along the newly-completed Integrated Truss Structure. The newest and final part of the ITS, launched on this mission, is the S6 truss and arrays, visible to the far left of this image.
Over the previous few years, US Space Command has been monitoring Russian ASAT testing. Two tests of Russia's Nudol ASAT technology were announced by the US Space Command in 2020. Both experiments, however, did not appear to destroy any space targets.
In a statement to The Verge, US Space Command said it was "aware of a debris-generating event" in space that morning.
According to the United States Space Command, they are actively trying to describe the debris field and will continue to guarantee that all space-faring nations have the information they need to move satellites if they are hit. They're also working with the interagency on these reports, which includes the State Department and NASA, and will offer an update soon.
On Twitter, private space tracking business LeoLabs verified that it had seen many objects in the vicinity of an aging Russian satellite known as Kosmos 1408, which has now been confirmed as the target of the ASAT test.
On Monday (November 15), NASA Administrator Bill Nelson blasted a Russian anti-satellite test that put the International Space Station in danger of colliding with the debris.
"Earlier today, due to the debris generated by the destructive Russian Anti-Satellite (ASAT) test, ISS astronauts and cosmonauts undertook emergency procedures for safety," Nelson said in a NASA statement.
"I'm outraged by this irresponsible and destabilizing action," he added per Space.com. "With its long and storied history in human spaceflight, it is unthinkable that Russia would endanger not only the American and international partner astronauts on the ISS, but also their own cosmonauts."
According to Nelson, the acts are rash and risky. The actions, he added, could likewise endanger the Chinese space station and the taikonauts on board.
ALSO READ: Planet Now Has 7,500 Low-Earth Orbit Satellites, More Than 30,000 Manmade Floating Objects
Russia's dangerous and irresponsible behavior jeopardizes the long-term sustainability of outer space, according to State Department spokesman Ned Price (via CNBC Space Reporter Michael Sheetz on Twitter), and clearly demonstrates that Russia's (claims) to oppose the weaponization of space are disingenuous and hypocritical.
Satellites and human spaceflight are both threatened by space debris, which is a big hazard. Even the tiniest particles of debris orbiting the Earth at 17,500 miles per hour could pierce a gasoline tank or destroy a battery, and there are around 23,000 pieces larger than a softball, half a million pieces the size of a marble or larger, and about 100 million pieces.04 inches and larger.
The Cosmos 1408 satellite, which the Soviet Union sent into space in 1982, was damaged by a Russian ground-based missile on Monday (Moscow time). The debris might linger in orbit for years, if not decades, according to the US Space Command.
Secure World Foundation program planning head Brian Weeden told Houston Chroniclethat the satellite was between 290 and 300 miles in altitude. The International Space Station is now around 260 miles above the Earth's surface.
Russia's ground-based anti-satellite missile has been tested many times since 2014. Previous ground-based experiments, according to Weeden, did not produce debris since they did not impact satellites.
In the past, condemnation was hit or miss. The United States got angry when China destroyed its 2007 Fengyun-1C meteorological satellite.
The United States launched its own space rocket the next year. It justified the destruction of a US National Reconnaissance Office satellite that was falling out of orbit with around 1,000 pounds of highly hazardous hydrazine fuel onboard due to safety concerns.
Former NASA Administrator Jim Bridenstine criticized India's destruction of one of its satellites in 2019. Still, the White House later reversed its position, according to Weeden.
At an altitude of roughly 149 miles, the American satellite was destroyed, while the Indian satellite was destroyed at an altitude of around 186 miles. Both of these experiments, according to Weeden, left debris in orbit.
However, China's test destroyed a satellite at a height of 535 miles, resulting in almost 3,500 pieces of debris. Jonathan McDowell of the Center for Astrophysics tweetedthat 2,737 fragments were still in orbit on Tuesday of last week.
Last week, officials were considering adjusting the orbit of the space station due to debris. Although the space station did not need to be relocated away from the Chinese debris, authorities went ahead and did so. It took the place of a planned "reboost" to maintain the space station's appropriate height.
RELATED ARTICLE: International Space Station Fires Rocket To Get Away From 2007 Chinese Satellite
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US National Sled Team Steps Up to Help Military Sled Program – USA Hockey
Posted: at 11:24 pm
I think were fortunate to be in the spot that were in, and were treated awfully well, Hoff said. There are a lot of guys who have paved the way for our guys to have it as good as they do right now in terms of the way were treated. To me, its part of our responsibility.
Hoff said that Woodke and Dodson were part of the charity game, but they also hung around an extra day and sat with players from the WFLF Sled Hockey Program.
Our guys sat down with each of their players and talked to them about equipment, Hoff said. They were giving ideas on how they could fine-tune their sleds and other hints. Our guys were just like them at some point trying to figure everything out, so I hope the impact helped them become better sled players. That was one of our goals.
Hoff recalled a tender moment between Dodson and a young boy.
He was telling him how he really needs to take care of his blades underneath his sled, Hoff said. All of the sudden, I saw Travis reach into his bag and pulled out a USA Hockey blade cover, he put it on the kids sled and the kid was just ecstatic. For Travis, it was probably no big deal, but for the kid, it was a big gesture. It definitely had USA Hockey on it, too, so it was something pretty cool for that young boy to get.
Hoff, Woodke and Dodson arrived a day before the charity event took place. Woodke and Dodson are both retired Marines, and the group received an opportunity to visit the Navy SEAL training base and several teams.
Hoff and Croley spoke of the mutual respect displayed between both groups.
It got emotional in the hallway, Croley said. [Woodke and Dodson] had been in the same places we had been. We kind of stomped the same ground together.
Now, the two groups are stomping the same ground again. Only this time, its in an effort to promote and grow the game of sled hockey.
Were kind of a fledging sled hockey program down here, and to have those guys come down with the talent level that they have, just really created a lot of energy, Croley said. It was very impressive. Theyre great ambassadors for the sled hockey program, and I cant say enough for the way those guys represented the U.S. national team.
Story from Red Line Editorial, Inc.
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Homeward bound: Making it through the gate at Gibraltar – Hindustan Times
Posted: at 11:24 pm
Join the sea and see the world, an old adage luring the landlubber doesnt hold much water these days as naval ships rarely venture out of coastal waters that too to some of our own ports or a couple of nearby countries, such as Sri Lanka, Malaysia and Singapore. But service in Merchant Navy ships does afford many chances to see the wonderful world, not only to the serving crew but also to the families of officers on board.
Life on ship no doubt is a monotonous one but there are still moments of adventure now and then. The sea passage from India to the east coast of the US through the Suez Canal and Mediterranean Sea is an enjoyable experience. On one of these ships where I was the chief engineer, my wife joined me for a voyage, leaving behind our children with my parents. We made a much sought after voyage to the Great Lakes which covers North American ports of the US and Canada near the lakes of Ontario, Erie, Michigan and fresh water lake Superior. By the time the ship reached this last named lake, we were 600 feet higher than the sea. This is an engineering marvel when a ship is lifted in steps through different level locks; where water levels are maintained by gravity from the next higher level for raising the ship and by pumps while lowering the ships returning to sea level.
The enthusiasm witnessed when a wife joins her husband on board before the onset of the voyage to see foreign places gradually wanes and gives way to boredom, nostalgia, and longing to return home. For my wife too, reaching back home to our children at the earliest became an obsession and our ships agonising slow progress towards India across the hostile Atlantic came under her criticism. Even the reading material at her disposal was not helpful in curbing her longing to be home. In one of the old National Geographic magazines on our ship, my wife read an article in which geologists postulate that due to the continuous though imperceptible drift of the African continent towards Eurasia, the passage at Gibraltar between these two continents is getting narrower, imperceptibly, of course. And this would, one day, result in making our present day Mediterranean Sea land-locked and a dry valley once the passage at Gibraltar closes completely, as has happened many times in the past billion years or so.
So, after a long passage from Montreal port in Canada across the vast stretch of the Atlantic Ocean, braving one storm after another, we were finally in sight of Gibraltar, the gateway to the East and Mediterranean Sea and further on to Suez Canal. The entry through Gibraltar, when returning from the West is always a relief as it gives the feeling of being almost on land. You see land on both sides, Europe on the North and Africa in the South, when your ship is transiting through Mediterranean Sea.
When our ship was approaching the passage to Gibraltar on one sunny afternoon, my wife came on the deck where I was having my usual stroll, and without any preamble, asked, rather told, me to increase the speed of our ship. A request for increasing the ships speed is not unusual, but coming from my wife left me puzzled, till she added with a mock concern, Lets get through faster before the gate at Gibraltar closes in our face and delays us for many days in case we have to go via the Cape of Good Hope, a longer and stormy passage to India. It was quite a compliment to the chief engineer of the ship on the performance and speed of his ship, coming, especially as it did from his wife. lalsingh1936@gmail.com
The writer is an Amritsar-based retired merchant navy chief engineer
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The Harder They Fall – Film Threat
Posted: at 11:24 pm
NEW TO NETFLIX! Its hard to believe thatThe Harder They Fallis writer-director Jeymes Samuels feature-length debut. Brother of none other than the beloved musician Seal (!), Samuel has so far been primarily known for his career as a singer-songwriter (hes also known as The Bullitts, inspired by Steve McQueens classic). Yet the assurance he displays in this Netflix-produced Western, led by a jaw-dropping ensemble cast, leaves much more seasoned filmmakers in the dust.
Come to think of it, Samuels background has always straddled the line between film and music. His studio album,They Die By Dawn & Other Short Stories, is highly cinematic; it even boasted an appearance from Lucy Liu. He worked on Baz LuhrmannsThe Great Gatsby, where he met Jay-Z (a producer here). The two art forms collide and morph inThe Harder They Fall, which moves to its own electric rhythm, like a beat-driven, extended music video of the highest caliber. I really do mean it as a compliment. To rephrase, its music-made-cinema.
So obviously, the soundtrack featuring, yes, Seal, Jay-Z, Lauryn Hill, and CeeLo Green is excellent, not only perfectly complementing but becoming an essential part of the narrative. But its the way the filmmaker makes his storymove, the elegant way the events unfold, how he sustains the delicate brutal/side-splitting/gravely-serious tone of the piece that impresses the most. He embraces the beloved conventions of the genre and subtly turns them on their heads.
The plot in a nutshell: outlaw Nat Love (Jonathan Majors), after witnessing the brutal death of his parents as a child, assembles his gang to go after the recently-released Rufus Buck (Idris Elba) and his band of outlaws. Yes, Tarantino comes to mind as there are non-stop allusions to/blatant theft of his signature embellishments we all know and love/loathe. Juicy, heightened dialogue, pronounced with lip-smacking relish? Check. Split-screen? Check. The aforementioned jarring mix of violence and comedy? Check. A master stealing from a master, who in turn steals from the greatest masters? Absolutely.
[Nat Love] assembles his gang to go after the recently-released Rufus Buck and his band of outlaws.
But Ill take a ridiculously entertaining, superbly written, gracefully progressive (in multiple ways) copy of a copy over preachy, pandering rehashes. Isnt every Marvel movie a copy of a copy? Or every other new action blockbuster? WithThe Harder They Fall, Samuel places Black heroes front and center, along with strong, memorable female protagonists, and it never comes close to feeling obligatory (Im looking at you,Eternals, although my esteemed colleague disagrees in his wonderful review).
The Western starts by proclaiming these people existed. Historically, in cinema, Black people have been portrayed as victims in Hollywood, more recently victims who break through the mold and achieve redemption. While theres undeniable, tragic truth to that, Black people were also heroes, outlaws, gunslingers, folks with power, fierce intelligence, sometimes tender, sometimes justifiably violent. So its refreshing, to say the least, to watch these fleshed-out characters do their thing.
Each of the performances inThe Harder They Fallserves as a masterclass of acting. Majors proves once again that he is one of our most charismatic leads (see him inThe Last Black Man in San Francisco). Hes pure energy here, a hero out for revenge who somehow comes off both relentlessly determined and nonchalantly optimistic. As for the rest of the splendid cast, the stoic Zazie Beetz, the loyal and badass Regina King, the nihilistic Idris Elba, the soft-spoken LaKeith Stanfield, and especially Danielle Deadwyler deserve extra-special notice. These characters wont soon leave your mind.
The Harder They Falldelivers a good, albeit familiar, story. Almost every scene impresses and has something to say. How refreshing is that? Its been a while since a major production entertained and enlightened to such a degree, with nary a wrong step, for over two hours. If you can stomach the violence, youre in for a hell of a ride. Heres to the Western revival. Im all about Jeymes Samuel leading this gang.
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Can I drive my car: RC renewal pending, registrations closed – Team-BHP
Posted: at 11:24 pm
BHPian NavBHP recently shared this with other enthusiasts.
I submitted my RC renewal forms at the RTO a month ago, and there's half a month until the registration expires. The fitness test went fine (shown as "Verify: Complete" in the attached screenshot taken from vahan.parivahan.gov.in). There is an "Approve" status shown as "Not started". This is at an RTO in Bangalore.
When I submitted the file, I was given a pink coloured slip which is titled "sweekrithi patra" (acknowledgement slip). It has the RTO seal and scribbled signature of the official who gave it.
Three questions:
Here's what BHPian aargee had to say on the matter:
If you're very serious about the documentation to abide by the law, visiting an "agent" helps expedite the process. But visiting an "agent" makes the law-abiding process an oxymoron.
I've only two things to say:
Here's what BHPian gkveda had to say on the matter:
According to my knowledge,
Let us assume, the expected date of delivery lies beyond the expiry date. In this case, you can not drive the car from the expiry date till the new card receipt.
Coming to clause chapter IV, your vehicle RC is not cancelled or suspended. It is expired and you are applying for renewal. Hence, in my view, this clause is not applicable to your car.
Here's what BHPian anjan_c2007 had to say on the matter:
If the fitness test for renewal of RC is successfully through the papers usually take time to get processed and for the renewed RC smart card to reach the owner. In Maharashtra, they charge a fee payable for speed posts too. It is common knowledge that the RTO offices work at their own pace.
You must be having the receipt for payment of fitness fees with you and you say that your motor vehicle has been successful through the fitness test. Hence, legally the fitness fee payment receipt is a valid document to double up as a temporary RC to be produced before any law enforcement agency. The details of the fitness test can be known through this receipt by the law enforcers. Updation on the VAHAN site too takes time. By all means, go ahead with driving your motor vehicle and no one can stop you.
Here's what BHPian Poitive had to say on the matter:
While getting a driving license renewed had similar questions. Was told by the helpline, when the DL was held at the printing and post-stage, that one could download the Digi-locker app and get a digital version of the document, which would be legally valid. It was only verbal communication.
You might want to try that. Likely that the digital document will be available well before a physical one reaches you.
While the police in major metros are likely to be aware of digital versions, it may be a different scenario outside major cities.
Check out BHPian comments for more insights and information.
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Pearson Packaging Appoints Chris Gallagher as VP of Sales to Accelerate Growth and Customer Focus – PR Web
Posted: at 11:24 pm
SPOKANE, Wash. (PRWEB) November 15, 2021
Pearson Packaging Systems, industry-trusted authority for end-of-line packaging automation equipment, welcomes new Vice President of Sales, Chris Gallagher. The announcement comes after an extensive executive search for the right person to accelerate the companys growth and expansion plans.
Chriss past accomplishments are exemplary of the expectations for his new role at Pearson. At Packsize International, LLC, an On-Demand Packaging Solutions provider, he led a team of 40 sales professionals, growing revenue at a sustained 30% year-over-year. Prior to serving as VP of Sales, Chris helped launch Packsizes Advanced Products Division to generate new revenue streams outside of the companys core business by focusing on automated packaging equipment, consumables (tape, protective packaging, etc.), software, and services. Within five years, Chris grew the AP division from start-up to a 100% year-over-year growth average.
Over the course of his career, Chris credits his success to a leadership style best described as trust & transparency. No matter what the product is, its people serving people, remarks Chris Gallagher, who is passionate about building a sense of team, developing people, and enabling a culture of winning centered around customer satisfaction and optimizing the customer experience. In addition to revenue growth, Chris demonstrated the strength of his customer centricity at Packsize by focusing on customer adoption and client churn.
Chriss style perfectly supports Pearsons strategic vision of becoming the customers most trusted partner and providing the lowest total cost of ownership. We are excited to tap into Chriss experience of aggressively growing revenue. We value his fresh perspective and are eager to see his energy penetrate our team and inspire new momentum, comments Michael Senske, CEO of Pearson Packaging Systems parent company R.A. Pearson.
About Pearson Packaging Systems
With its portfolio of case erectors, robotic top-loaders, sealers and robotic palletizers, Pearson Packaging Systems specializes in secondary packaging automation solutions to help customers overcome labor cost and supply, safety, quality and throughput challenges. The OEM offers a single source supplier experience that enables its customers to enjoy uniform machine interfaces, standardized machine features, industry-leading delivery times and a single point of accountability.
To provide flexible and scalable solutions and minimize total cost of ownership, Pearson Packaging Systems is dedicated to the application of advanced technologies and a user-centric design. Since its inception more than 65 years ago, a diverse set of high-volume manufacturers and distributors in the food, beverage, personal care, chemical and online commerce industries has relied on Pearsons products and services to meet their growth and profitability objectives. To date, Pearson has deployed over 21,000 machines, servicing the erect, pack, seal and palletize marketplace.
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College GameDay Built by The Home Depot Travels to Oxford for the First Time in Seven Years for No. 11 Texas A&M vs. No. 15 Ole Miss – ESPN Press Room
Posted: at 11:24 pm
Photos viaESPN Images
College GameDay Built by The Home Depotwill travel toOxford, Miss., for just the second time this Saturday, Nov.13 (9 a.m. noon ET), as No. 11 Texas A&M faces No. 15 Ole Miss in a key SEC West matchup. The premierthree-hourtraveling pregame show will air on ESPN and ESPNU, highlighting key storylines and offering news, analysis and predictions as the Rebels host the Aggies. GameDay will originate from The Grove, capturing all the pregame atmosphere on the Ole Miss campus.
Rece Davishosts the 12-time Emmy Award-winning show with analystsLee Corso,Kirk Herbstreit, Desmond Howard and David Pollack, research producer and sports betting analystChris The Bear Fallica, and reportersJen LadaandGene Wojciechowski.
GameDays only other previous trip to Oxford was seven years ago October 4, 2014, when the Rebels upset Alabama. Video.
College GameDayprecedesafull slate ofgamesacross ESPN networks on Saturday, including two crucial Big Ten battles. Chris Fowler, Herbstreit and Holly Rowe will call Texas A&M at Ole Miss (7 p.m., ESPN). ABCs afternoon Big Ten doubleheader will feature No. 6 Michigan at Penn State (noon) with Sean McDonough, Dan Orlovsky and Molly McGrath, followed by No. 19 Purdue at No. 4 Ohio State (3:30 p.m.) with Joe Tessitore, Greg McElroy and Katie George.
College GameDay Highlights:
Stats from The Bear/Corso Facts:
ESPN Social and Digital
Countdown to GameDay LiveisCollege GameDays pregame show, before the pregame show. Each week, hostChristine Williamsonand Harry Douglas will usher fans into the show and the Saturday college football lineup throughout the season at 8:30 a.m.Countdown to GameDayis available on Saturday across Twitter, YouTube, Facebook, and the ESPN App.
Additionally,College GameDay: All Accesson Snapchat debuted this season, with Williamson taking fans behind the scenes of the legendary pregame showCollege GameDay. From interviews with players and coaches to experiencing local traditions to the bestGameDaysigns, she will give fans everyone a look at why Saturdays are so special even before the games start.
Fans call follow and engage in all the actioneach and everySaturday acrossCollege GameDayssocial platforms (Facebook|Twitter|Instagram|YouTube|TikTok).
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Former RAF Sealand engineer urges other veterans to recognise their hearing loss – Denbighshire Free Press
Posted: November 11, 2021 at 5:56 pm
A VETERAN aircraft engineer who lost his hearing is calling for others to access new support.
Tom Kane, from Deeside, always had aspirations to join the Armed Forces.
From as young as he can remember he looked up to his father who was in the Fleet Air Arm, and at 14 he joined the Marine Cadets in Penzance in the South West of England.
I was still at school when I applied to join the Royal Air Force and was working as a part time butcher, said Tom.
After a setback, being told he wasnt initially going to be accepted into the RAF, he reapplied in January 1975 and in April that year he finally swore allegiance to Queen Elizabeth II and said: "I didnt look back.
Veteran aircraft engineer Tom Kane, from Deeside.
Despite being fully hearing when he arrived at his first posting at RAF Binbrook, in Lincolnshire, Tom was tasked to work as a mechanic on The Lightning, at the time the loudest aircraft in the RAF.
Tom was at RAF Binbrook and issued with Amplivox ear defenders made out of ceramic cup with padding inside the cup and a seal with glycerine, which in his case were not adequate in the noisy environment of a Flight Line full of Lightnings.
Veteran aircraft engineer Tom Kane, from Deeside. "The office."
Despite improvements being made to ear defender technology over the years, his hearing was already damaged due to noise.
I loved the RAF life, said Tom. So much so that from 1988 onwards I was always involved with the entertainment committees of various Sergeants Messes, but that is when I noticed my hearing wasnt what it used to be.
It was the weekly quiz nights Tom hosted at RAF Sealand, in Deeside when he realised that when people were asking him to repeat questions from across the noisy room, that he couldnt hear his fellow colleagues.
In 2000 Tom lost a good part of his hearing and also developed tinnitus and went for several audiology exams but was told that it would be something you have to live with and so he carried on, even serving in the Falklands.
After many failed attempts Tom was finally given a lifeline by the NHS and was seen by an audiologist in the hospital.
After a full hearing test which showed he had experienced noise induced hearing loss, and was given hearing aids.
Tom added: It was pretty life changing, but I also made sure I went onto lip reading courses to do what I could to help myself.
When there was a possibility of a fireman strike after the last foot and mouth epidemic, I was told I would be expected to be chosen to lead teams of service personnel in an emergency setting and it clearly just wasnt safe," said Tom.
"At that time I really knew I had to push to get help and after some persuading, I was given a medical downgrading, which meant I wasnt going to be expected to work in a hazardous area because of my hearing loss."
Veteran aircraft engineer Tom Kane, from Deeside. First day and last day.
Father of two Tom, was given a Hearing Dog for the Deaf Nevis who he said, 'changed his life completely'.
Now Tom is fully qualified as a lip reading teacher and works to help other Veterans who have lost their hearing through active service.
It can take 10 years for someone to realise they have a hearing loss, said Tom. Luckily now there are Facebook groups you can join and get support but when mine happened it was very isolating - and tiring!
DSN, previously known as Deafness Support Network, has been awarded a grant from the Armed Forces Covenant Trust Fund to enable veterans to get better access to support and services. The project is being headed by Pam Craige.
Pam said: Toms story is so inspiring and its fantastic to see how he has turned his hearing loss into something that he can now help people with. We really hope that other Veterans are encouraged to be open about their hearing loss and come and find a support network with us here at DSN.
DSN will be hosting its first ever workshop for veterans, where Tom will be the guest speaker, at The Armed Forces Community Services Hub, Warrington on November 26th from 1pm-3.30pm. The workshop is free with lunch and refreshments provided.
Anyone interested in going along can email pcraige@dsnonline.co.uk
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NATERA Plant-Based Foods Offered at Sealand Quality Foods – Investing News Network
Posted: at 5:56 pm
Third Quarter 2021 Financial Highlights 1
Financial Outlook
The Company reaffirms the previously provided guidance of:
Management Commentary
Q3 was another outstanding quarter at Cresco Labs and a very strong start to the second half of the year. During the quarter, we replenished our balance sheet with non-dilutive capital, we closed a transformative acquisition in Massachusetts creating our third top three market share in a billion-dollar market, we announced several new deals to drive market depth, and we made massive improvements in bottom-line profitability as infrastructure investments began to bear fruit, said Charles Bachtell, Co-Founder and CEO of Cresco Labs. We are very proud of the record performance during a challenging quarter and continue to find that our differentiated strategy, localized for each individual state market, positions us to out-compete in both the current environment and long term. With many more growth initiatives up ahead, 2022 is set to be another record year, and we couldnt be more excited for whats to come as we continue driving strategic breadth, depth and execution.
Capital Markets and M&A Activity
SEED Social Equity and Education Development Program
Balance Sheet, Liquidity, and Other Financial Information 1
1 Note that the quarterly review process is still underway until financial results have been filed on SEDAR and EDGAR, and accordingly final results could change. Please see Consolidated Financial Statements section below for more information.
2 See Non-GAAP Financial Measures at the end of this press release for more information regarding the Companys use of non-GAAP financial measures.
Conference Call and Webcast
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday, November 11, 2021, at 8:30am Eastern Time (7:30am Central Time). The conference call may be accessed via webcast or by dialing 1-844-200-6205 (US Toll Free), 1-646-904-5544 (US Local), +1 929-526-1599 (Other) and providing access code 886856. Archived access to the webcast will be available for one year on the Cresco Labs investor relations website.
Consolidated Financial Statements
The financial information reported in this press release is based on unaudited management prepared financial statements for the three and nine months ended September 30, 2021. These financial statements have been prepared in accordance with U.S. GAAP. This release contains certain preliminary financial results for third quarter of 2021, including Cost of goods sold; Gross profit; Depreciation and amortization; Impairment loss; Interest expense, net; Other income (expense), net; Income tax recovery (expense); Net loss; Inventory, net; Property and equipment, net; Intangibles, net; Goodwill; and Deferred, contingent consideration and other payables, short-term. These preliminary results for the three months ended September 30, 2021 are provided prior to completion of all internal and external reviews and therefore are subject to adjustment until the filing of the Companys quarterly financial statements, which the Company expects to file on SEDAR during the week of November 15, 2021. The review of the unaudited consolidated financial statements for the three and nine month periods ended September 30, 2021 by the Companys auditors is currently in process. All financial information contained in this press release is qualified in its entirety with reference to such financial statements. While the Company does not expect there to be any material changes between the information contained in this press release and the consolidated financial statements it files on SEDAR, to the extent that the financial information contained in this press release is inconsistent with the information contained in the Companys financial statements, the financial information contained in this press release shall be deemed to be modified or superseded by the Companys filed financial statements. The making of a modifying or superseding statement shall not be deemed an admission for any purposes that the modified or superseded statement, when made, constituted a misrepresentation for purposes of applicable securities laws. Further, the reader should refer to the additional disclosures in the Companys audited financial statements for the year ended December 31, 2020, prepared under International Financial Reporting Standards (IFRS) and previously filed on SEDAR.
Cresco Labs references certain non-GAAP financial measures throughout this press release, which may not be comparable to similar measures presented by other issuers. Please see the Non-GAAP Financial Measures section of this press release for more detailed information.
U.S. GAAP Financial Reporting
Beginning with the quarter ended March 31, 2021, the Company has prepared its financial statements, including all comparative figures, in compliance with U.S. GAAP instead of IFRS. Changes to comparative figures for prior periods reflect their presentation in accordance with U.S. GAAP and is not a change in the Companys underlying performance as previously reported under IFRS.
Non-GAAP Financial Measures
EBITDA, Adjusted EBITDA, and Adjusted gross profit are non-GAAP measures and do not have standardized definitions under U.S. GAAP. The Company has provided these non-GAAP financial measures, which are not calculated or presented in accordance with U.S. GAAP, as supplemental information and in addition to the financial measures that are calculated and presented in accordance with U.S. GAAP and may not be comparable to similar measures presented by other issuers. These supplemental non-GAAP financial measures are presented because management has evaluated the financial results both including and excluding the adjusted items and believes that the supplemental non-GAAP financial measures presented provide additional perspective and insights when analyzing the core operating performance of the business. These supplemental non-GAAP financial measures should not be considered superior to, as a substitute for or as an alternative to, and should only be considered in conjunction with, the U.S. GAAP financial measures presented herein. Accordingly, the Company has included below reconciliations of the supplemental non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP. The Company has not quantitatively reconciled its guidance for forward-looking non-GAAP metrics to their most comparable U.S. GAAP measures because the Company does not provide specific guidance for the various reconciling items as certain items that impact these measures have not occurred, are out of the Companys control, or cannot be reasonably predicted. Accordingly, a reconciliation to the most comparable U.S. GAAP financial metric is not available without unreasonable effort. Please note that the unavailable reconciling items could significantly impact the Companys results.
About Cresco Labs Inc.
Cresco Labs is one of the largest vertically integrated, multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (CPG) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted national brands including Cresco, Cresco Reserve, High Supply, Mindys Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. Sunnyside*, Cresco Labs national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industrys largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at http://www.crescolabs.com .
Forward Looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Companys beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Companys control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, may, will, should, could, would, expects, plans, anticipates, believes, estimates, projects, predicts, potential or continue or the negative of those forms or other comparable terms. The Companys forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Companys actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under Risk Factors in the Companys Annual Information Form for the year ended December 31, 2020 filed on March 26, 2021, and other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Companys forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs shares, nor as to the Companys financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Companys forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
Cresco Labs Inc.
Financial Information and Non-GAAP Reconciliations
(All amounts expressed in thousands of U.S. Dollars)
Unaudited Consolidated Statements of Operations
For the Three Months Ended September 30, 2021, June 30, 2021, and September 30, 2020
For the Three Months Ended
($ in thousands)
September 30, 2021 2
June 30, 2021
September 30, 2020
Revenue
$
215,483
$
209,975
$
153,298
Cost of goods sold
107,162
108,994
76,454
Gross profit
108,321
100,981
76,844
Gross profit %
50.3
%
48.1
%
50.1
%
Operating expenses:
Selling, general and administrative
69,520
71,605
44,830
Share-based compensation
6,083
8,814
2,764
Depreciation and amortization
5,787
5,690
4,315
Impairment loss
290,949
Total operating expenses
372,339
86,109
51,909
(Loss) income from operations
$
(264,018
)
$
14,872
$
24,935
Other (expense) income:
Interest expense, net
(13,577
)
(11,481
)
(8,762
)
Other income (expense), net
1,735
12,725
(354
)
Loss from equity method investments
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NATERA Plant-Based Foods Offered at Sealand Quality Foods - Investing News Network
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Operation Holiday Cheer to spread Thanksgiving, Christmas spirit with free meals for troops – The Northwest Florida Daily News
Posted: November 9, 2021 at 2:05 pm
OKALOOSA ISLAND For yet another year, Dr. Garry Banks, a Niceville family medicine specialist, developer Jay Odom, Sealand Restaurant in Fort Walton Beach, and a number of volunteersare teaming up to ensure that local active-dutymilitary personnel who won't be able to make it home for the upcoming holidays will at least have a traditionaland freeholiday meal on Thanksgiving Day and Christmas Day.
This is the third year that Banks and Odom have teamed up for Operation Holiday Cheer.
The roots of the effort, though, go back a year earlier, when Banks was moved by the tears of a patient. During the military member's visit to Banks' office, conversation turned to the holidays and a traditional Christmas dinner, and Banks learned that the service member hadn't been home for the holiday the previous two years.
Last year: Christmas dinners bring holiday cheer to local troops
From the archives: Local developer Jay Odom, Dr. Banks sponsoring free holiday dinner for troops
Banks was moved enough by that conversation to team up with Sealand Restaurant to provide both a Thanksgiving meal and a Christmas Day dinner to local military personnel who weren't able to go homeor mark the holidays in any other special way.
By the next year, though, the effort to feed active-duty troops, their families, and friends had expanded to the point that Banks approached Odom and they put together a plandubbed Operation Holiday Cheer.
This holiday season will mark the third year of that arrangement, underwhich Sealand Restaurant prepares and delivers Thanksgiving Day and Christmas Day meals to active-duty military personnel who are working on those days, and The Island provides meals to active-duty military personnel, family, and friends who have time at least to have a holiday meal in a communal atmosphere.
"I really appreciate the people at The Island hotel, Sealand Restaurant, and the Jay Odom Group," Banks said Monday, noting that they "have gone out of theirway to assist ... in this endeavor."
The dinners provided through Operation Holiday Cheer have been gratefully acknowledged by the military personnel who have received them, Banks said.
"The ones who've attended the dinnersaid it was great for camaraderie," said Banks, who addedthat in many casesmeeting at the dinners has created lasting friendships among troops.
For the military personnel on duty on the holidays, the dinners can mean even moreas they work shifts that can extend from 6 a.m. to6 p.m., according to Banks.
"Some of them are in tears because they didn't think they would have a holiday meal," hesaid.
Reservations for the upcoming holiday meals, whether served at The Island or delivered to a duty post, can be made by email at gbanks@ecmed.gccoxmail.com or by phone at 850-678-7676.
Banks is asking that people make reservations at least a week in advance of Thanksgiving Day or Christmas Dayto ensure that both Sealand and The Island have ampletime to have the makings of the holiday meals on hand. Meals will be served at The Island from 2 to3:30 p.m. on both Thanksgiving Day and Christmas Day.
A home for the holidays: Pensacola Ronald McDonald House spreads love, Christmas cheer
This year, Banks saidOperation Holiday Cheerexpectsto deliver as many as 300 meals to active-duty personnel working on each of the two holidaysand expectsto serve as many as 100 people at The Island on both holidays, meaning that as many as 800 people will have a free holiday meal across both holidays.
By comparison, the initial year of the effort fed about130 people, according to Banks.
Operation Holiday Cheer now is funded through donations. While a September fundraising event in Destin raised a significant amount of money, donations are still welcomeand canbe arranged through the same email address and telephone number being used to accept reservations, Banks said. Donations will be accepted until the day before Christmas, headded.
In addition to donations, Operation Holiday Cheer is still looking for volunteers to pack and deliver holiday meals from Sealand, Banks said. Prospective volunteers can offer their services through either gbanks@ecmed.gccoxmail.com or 850-678-7676.
This year's Thanksgiving menu includesa Caesar salad, a choice of meats comprising turkey with bread stuffing, cranberry sauce, and buttermilk biscuits and Cajun honey-glazed ham with spicy mustard, side dishes of garlic mashed potatoes, herb roasted green beans, honey-glazed heirloom carrots, and pumpkin and pecan pie for dessert.
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