AG真人官方

Ur-Energy Inc. (NYSE American: URG) 鈥� Q2 2025 Form 10-Q highlights

• Revenue momentum: Q2 sales rose 124% YoY to $10.4 m, driven by delivery of 250k lb U₃O₈ borrowed under a one-year physical inventory loan. Gross profit improved 46% to $1.9 m.
• Losses widened: Higher development spend and a $5.6 m mark-to-market loss on the uranium loan and warrants pushed operating loss to $15.8 m and net loss to $21.0 m (vs. $6.6 m LY). Six-month net loss totals $31.9 m.
• Cash position: Cash & equivalents of $57.6 m plus $11.3 m restricted provide $68.9 m liquidity (down $18.2 m YTD). Operating cash burn was $9.3 m; capex for plant build-out was $8.9 m.
• Balance sheet shifts: Total assets slipped to $171 m (-12% since YE). Shareholders鈥� equity fell to $102 m as accumulated deficit reached -$336 m. Current liabilities include a $15.9 m inventory derivative obligation due Nov-2025. Asset-retirement obligation rose $3.3 m to $40.1 m.
• Production ramp plans: Management targets Mine Unit 1 Phase 2 startup at Lost Creek in Q4 2025 and continues permitting/build-out at Shirley Basin; development expenses were $14.1 m for the quarter.
• Capital structure: 364.8 m common shares outstanding; 39.0 m warrants ($1.50 strike, Feb-2026 expiry) and 8.1 m options ($1.09 WAEP) remain out-of-the-money.

Overall, Ur-Energy generated higher top-line but remains cash-flow negative while investing heavily in capacity expansion and carrying exposure to uranium price movements through its physical loan.

The Vanguard Group filed Amendment No. 2 to Schedule 13G disclosing a passive position in Universal Technical Institute (UTI) as of 30 Jun 2025.

• Beneficial ownership: 3,315,026 common shares.
• Represents 6.09 % of the outstanding class, exceeding the 5 % reporting threshold.
• Voting authority: 0 shares sole; 60,294 shares shared.
• Dispositive authority: 3,209,454 shares sole; 105,572 shares shared.
• Filer status: Investment Adviser (IA) filing under Rule 13d-1(b).

The firm certifies the stake is held in the ordinary course of business and not for the purpose of influencing control. The filing is signed by Ashley Grim, Head of Global Fund Administration, on 29 Jul 2025.

LiveOne, Inc. (NASDAQ: LVO) has filed its Form 10-K for the fiscal year ended March 31 2025. The filing describes a multi-faceted media company built around four core operations: (1) the LiveOne live music streaming platform, (2) the Slacker audio membership service, (3) PodcastOne, and (4) Custom Personalization Solutions (CPS) for merchandising. Management groups PodcastOne and Slacker into an Audio Group, while all other units form the Media Group.

Business scale & reach

• PodcastOne distributes more than 300 episodes weekly across 200 exclusive shows, reaching over 1 billion monthly listeners and generating 204 million downloads in FY 2025.
• Slacker powers both the consumer LiveOne app and numerous OEM integrations (e.g., Tesla, Verizon, T-Mobile). One single OEM customer represented 鈮�45 % of consolidated FY 2025 revenue.
• LiveOne owns or has pending 46 patents related to streaming technology and holds 25+ trademarks.

Revenue model: income is derived from (i) membership subscriptions (~50 % of FY25 revenue), (ii) advertising and sponsorships tied to music, livestreams and podcasts, (iii) pay-per-view events, and (iv) e-commerce merchandising via CPS.

Strategic initiatives

• Continued expansion of proprietary CMS and analytics to improve ad targeting and creator reporting.
• Launch of PodcastOne TV FAST channel and Adori visual podcast integration to open incremental video ad inventory.
• Growth of a pay-per-view platform for digital-only concerts, introduced during the COVID-19 period.
• Regular production of in-house franchises such as Music Lives, Self Made and the Breakout Awards.

Risks & controls

• The report contains a going-concern warning; ongoing operations depend on additional capital or financing.
• Significant customer concentration (one OEM at 45 %/51 % of revenue in FY25/FY24).
• No auditor attestation of internal control over financial reporting (non-accelerated filer exemption).
• LiveOne is not classified as a shell company; 97.1 million common shares were outstanding on 11 July 2025; public float value at 30 Sep 2024 was 鈮�$73 million.

Human capital: 113 employees at year-end with benefit programs (health, 401(k), EAP) and diversity initiatives. Remote-work flexibility adopted during COVID-19.

Regulatory landscape: the company licenses music through BMI, ASCAP, SoundExchange and operates under the Music Modernization Act. It notes compliance with FCPA, privacy regulations and multiple copyright regimes.

Forward look: management intends to combine live events, audio streaming and merchandising into a 鈥渇lywheel鈥� that monetises superfans; however, execution hinges on access to capital and maintaining content rights.

Ur-Energy Inc. (NYSE American: URG; TSX: URE) filed an 8-K announcing the appointment of Matthew D. Gili as President effective June 30, 2025. Gili, 57, is a Professional Engineer with more than two decades of senior leadership in global mining, including CEO and COO roles at i-80 Gold, Nevada Copper and executive positions at Barrick and Rio Tinto.

The Company entered into an Employment Agreement that provides: (1) an annual base salary of US$430,000; (2) an initial grant of 175,000 stock options under the 2005 Stock Option Plan; (3) eligibility for all executive benefit plans; (4) standard non-solicitation and non-disclosure covenants; and (5) a severance provision equal to 2.5 years of base salary if terminated without cause or if Gili resigns for good reason. No family relationships or related-party transactions were disclosed, and the appointment resulted from no arrangements with third parties.

An executed copy of the Employment Agreement is filed as Exhibit 10.1, and customary XBRL cover data is provided as Exhibit 104.

• Strategic implication: Ur-Energy strengthens its executive bench with a leader experienced in scaling and operating large-scale mining assets鈥攑otentially valuable as the Company advances its uranium projects.
• Governance note: The 2.5-year severance multiple is above typical U.S. mid-cap norms and may attract shareholder scrutiny.