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MTBC Declares Dividends on Non-Convertible Series A Cumulative Redeemable Perpetual Preferred Stock

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SOMERSET, N.J., Nov. 11, 2019 (GLOBE NEWSWIRE) — MTBC, Inc. (the “Company” or “MTBC”) (Nasdaq: MTBC) (Nasdaq: MTBCP), a leading provider of proprietary, cloud-based healthcare IT solutions and services, today announced that its Board of Directors has declared monthly cash dividends for its 11% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”) for December 2019, January and February 2020. This represents 52 consecutive months of dividends declared since the Series A Preferred Stock was initially sold in November 2015.

The following table shows the monthly dividends and associated record and payment dates:

  December 2019 January 2020 February 2020
Dividend per share $0.22917 $0.22917 $0.22917
Ex-dividend date Dec. 30, 2019 Jan. 30, 2020 Feb. 27, 2020
Record date Dec. 31, 2019 Jan. 31, 2020 Feb. 29, 2020
Payment date Jan. 15, 2020 Feb. 18, 2020 Mar. 16, 2020

Holders of shares of the Series A Preferred Stock are entitled to receive cumulative cash dividends at the rate of 11% per annum of the $25.00 per share liquidation preference (equivalent to $2.75 per annum per share). Dividends on the Series A Preferred Stock are cumulative and payable monthly on the 15th day of each month; provided that if any dividend payment date is not a business day, then the dividend may be paid on the next succeeding business day. Dividends are payable to holders of record on the applicable record date, which shall be the last day of the calendar month, whether or not a business day.

About MTBCP
MTBC’s Series A Preferred Stock trades on the NASDAQ Global Market under the ticker symbol “MTBCP.” Commencing on or after November 4, 2020, the Company may, at its option, upon not less than 30 nor more than 60 days’ written notice, redeem the Series A Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon to, but not including, the date fixed for redemption. Upon the occurrence of a Change of Control, the Company may, at its option, upon not less than 30 nor more than 60 days’ written notice, redeem the Series A Preferred Stock, in whole or in part, within 120 days after the first date on which such Change of Control occurred, for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon to, but not including, the redemption date.

About MTBC
MTBC, Inc. is a healthcare information technology company that provides a fully integrated suite of proprietary cloud-based solutions, together with related business services, to healthcare providers and hospitals throughout the United States. Our integrated Software-as-a-Service (or SaaS) platform helps our customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs. MTBC’s common stock trades on the Nasdaq Global Market under the ticker symbol “MTBC,” and its Series A Preferred Stock trades on the Nasdaq Global Market under the ticker symbol “MTBCP.”

For additional information, please visit our website at www.MTBC.com.

Follow MTBC on LinkedIn, Twitter and Facebook.

Disclaimer
This press release is for information purposes only, and does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

Forward Looking Statements
This press release contains various forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology.

Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, potential acquisitions, profitability and business outlook, increased sales and marketing expenses, and the expected results from the integration of our acquisitions.

These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective operations in Pakistan and Sri Lanka, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE MTBC

Company Contact:
Bill Korn
Chief Financial Officer
MTBC, Inc.
bkorn@mtbc.com

Investor Contact:
Matt Kreps, Managing Director
Darrow Associates Investor Relations
mkreps@darrowir.com
(214) 597-8200

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

IT

Sigma Labs Inc. Discusses Disruptive 3D Metal-Printing Technology in Exclusive Audio Interview

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NEW YORK, Dec. 12, 2019 (GLOBE NEWSWIRE) — via NetworkWire — Sigma Labs Inc. (NASDAQ: SGLB) today announces the broadcast of its exclusive audio interview with NetworkNewsAudio (NNA), a NetworkNewsWire (NNW) solution that delivers clients unparalleled visibility, recognition and brand awareness in the investment community.

The interview can be heard at http://nnw.fm/6F87x.

Sigma Labs President and CEO John Rice joins NNW’s Stuart Smith to discuss the Company’s disruptive technology. Sigma Labs is the only provider of in-process, quality-assurance software for the commercial 3D metal-printing industry that enables operators of machines making 3D metal parts to offset emerging quality problems, sustain part quality and avoid rejects. 

Sigma Labs was created almost a decade ago by a group of senior scientists and engineers from Los Alamos Labs who wanted to develop revolutionary parts in metallurgy science. The Company’s original forays into the dental and ordnance sectors eventually resulted in a focus on 3D metal manufacturing, which Rice calls an important, transformative, disruptive technology.

“That’s an overused term,” Rice acknowledges, “but this is a disruptive technology. Today you can find a subassembly of 20 or 40 parts, and you can use 3D metal manufacturing to make that whole assembly as one part, and it can have very complex geometry and very high-performance standards. It is an absolutely unique way to build unique products.

“It will lead to a different configuration of how factories work in the future. You will not only have traditional factories with a whole line of manufacturing machines, but you will also have internet of things factories where, in the same way that the distribution of parts has been completely changed by Amazon and Walmart, so this technology can change the distribution of manufacturing. You will be able to have your doctor prescribe a new shoulder for you, someone designs it in Boston, pushes a button, and it is made in a machine across the street. It’s a really exciting technology.”

The challenge with 3D metal printing in the past, said Rice, is that it’s difficult to get 3D metal manufacturing machines to develop a high level of highly consistent, repeatable quality parts. However, Sigma’s technology allows the machines to be monitored in real-time as the parts are being made. “Our hardware/software package is observing and assessing what is going on in there, and we are able to extract from thermal information when a part is beginning to drift out of specification. We can spot the precursors of a quality problem. We can alert the machine operator, who can stop it and make a correction and save the part and very often save the build,” he said.

Even with the quality challenge, 3D metal printing is a billion-dollar market, but with Sigma Labs’ technology potentially solving the industry’s major roadblock, the potential is staggering. After a year of intense effort and work, Sigma Labs currently has six major enterprise companies—three OEMs and three end users—that in the next several months will be completing the test and evaluation phases of Sigma Lab equipment in their shops.

“2019 was about getting into the market,” Rice observed, “and 2020 is about harvesting the market.”

Listen to the full interview with Sigma Labs president and CEO John Rice at http://nnw.fm/6F87x

About Sigma Labs Inc.

Sigma Labs Inc. (NASDAQ: SGLB) is an emerging provider of quality assurance software to the commercial 3D printing industry under the PrintRite3D® brand. Founded in 2010, Sigma is a software company that specializes in the development and commercialization of real-time computer aided inspection (“CAI”) solutions known as PrintRite3D for 3D advanced-manufacturing technologies. Sigma Labs’ advanced, computer-aided software product revolutionizes commercial additive manufacturing, enabling nondestructive quality assurance mid-production, uniquely allowing errors to be corrected in real time. For more information, please visit www.SigmaLabsInc.com.

About NetworkNewsAudio

NetworkNewsAudio (NNA), a NetworkNewsWire (NNW) Solution, allows you to sit back and listen to market updates, CEO interviews and a Company AudioPressRelease (APR). These audio clips provide snapshots of position, opportunity and momentum. NetworkNewsAudio (NNA) can assist your company by cutting through the overload of information in today’s market, NNA brings its clients unparalleled visibility, recognition and brand awareness. NetworkNewsWire (NNW) is where news, content and information converge. NetworkNewsWire (NNW) is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public with an ever-growing distribution network of more than 5,000 key syndication outlets across the nation.

For more information, visit: www.NetworkNewsAudio.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.

Corporate Communications: 

NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com 
212.418.1217 Office 
Editor@NetworkWire.com

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Conestoga Title Insurance Co. Launches Digital Underwriting Powered by Qualia

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LANCASTER, Pa., Dec. 12, 2019 (GLOBE NEWSWIRE) — Conestoga Title Insurance Co. today announced a collaboration with leading digital real estate closing technology company, Qualia, to implement Qualia’s Assure suite of products. Assure provides Conestoga with the capability to be the first fully digital underwriter, enabling it to take a major step forward in the industry-wide race to become the benchmark next generation underwriter. Qualia’s Assure is a part of the “Real Estate Cloud,” a cloud-based infrastructure designed to increase security and efficiency in real estate transactions.

“We’ve been in business for almost 50 years and this is the first time we believe our technology infrastructure will create a competitive differentiator for us,” said John Nikolaus, President of Conestoga Title Insurance Co. “As a leader in training and agency support, we are committed to providing our network of talented agents with sophisticated and effective tools for success. With Qualia, we have the opportunity to deliver a vastly superior digital experience to our agents.”

Assure is the only tool on the market for underwriters that automates collection of remittance information, operates monthly reconciliations, and integrates audit workflows directly into the agent’s Qualia software platform. Qualia’s Assure enables Conestoga to offer all of its agents everything from underwriting and search integrations to automated compliance and audit workflows. Assure facilitates seamless collaboration between underwriters and title agents by automating audits, reconciliations, remittances and reporting.

Conestoga will also be implementing Qualia’s cloud-based title, escrow and closing platform, as well as the Qualia Marketplace, a turn-key operational tool that connects title & escrow companies with their vendors to avoid unsecure emails, simplify payments and reduce overhead. Conestoga agents will be able to order title search products directly from Conestoga via the Qualia Marketplace. Agents running Qualia software will receive completed searches quickly, directly into agent’s platform, avoiding the necessity of re-keying data, saving time, effort, and minimizing the risk of errors. As an added benefit, Conestoga, not the agent, will retain liability for errors resulting from defective search products ordered from Conestoga.

“We are excited to provide Conestoga with Assure and our full suite of products to deliver a more connected, secure and seamless experience for the underwriter, agents and their clients,” said Nate Baker, CEO of Qualia. “We look forward to seeing how this partnership with Conestoga will drive forward the next phase of title insurance and accelerate the growth of their business.”

The full deployment will launch in February 2020. At that time, Qualia’s products will allow Conestoga’s agents to issue policies and CPLs, produce forms, and calculate rates. Agents will also receive access to the automated compliance and audit tools. This will be the next in a line of notable Qualia digital closing platform deployments following the announcement of Iowa’s statewide adoption of the platform last month through Iowa Title Guaranty.

For more information, please visit blog.qualia.com/assure-real-estate-cloud.

About Conestoga Title Insurance Co.
Conestoga Title Insurance Co. is a regional title insurance underwriter founded in 1973 with corporate headquarters in Lancaster, Pennsylvania. The company offers comprehensive title insurance services through a network of highly qualified and experienced independent agents and approved attorneys. Conestoga is licensed to underwrite title insurance in Pennsylvania, Maryland, Delaware, New Jersey, New York, Ohio, Indiana, Virginia, Kentucky, Tennessee, South Carolina, Georgia, Alabama, Mississippi and the District of Columbia. Conestoga Title is a wholly owned subsidiary of Donegal Mutual Insurance Co., a mutual property and casualty insurance carrier. For more information, please visit http://www.conestogatitle.com/.

About Qualia
Qualia is a digital real estate closing platform that provides the infrastructure to streamline the home closing experience. The company offers a suite of products that brings together homebuyers and sellers, lenders, title & escrow agents and real estate agents onto one secure shared platform. Qualia was founded in 2015 by Forbes 30 Under 30 Award recipients Nate Baker, Joel Gottsegen and Lucas Hansen. Since launching, the company has been named an ALTA Elite Provider, grown to over 220 employees, and recognized with the Great Place to Work Certification. The company is a leader in industry security and was the first technology company to join the Coalition to Stop Real Estate Wire Fraud. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX. For more information on Qualia, visit www.qualia.com.

Press Contact:
Erica Perng
Qualia
Email: erica@qualia.com

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Cerence Introduces Cerence ARK, a Turnkey Automotive Assistant Solution Fully Localized for the Chinese Market

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BURLINGTON, Mass., Dec. 12, 2019 (GLOBE NEWSWIRE) — Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today introduced Cerence ARK (AI Reference Kit), a new, turnkey automotive product that enables Chinese automakers to quickly develop, deploy and manage a fully localized automotive voice assistant.

Leveraging Cerence’s deep expertise in Chinese speech recognition and automotive AI, ARK delivers a human-machine interface (HMI) with comprehensive voice-based AI capabilities for all major automotive platforms and operating systems. ARK requires limited customization, which can significantly reduce time to market and deliver fast value. This is critical for automakers and suppliers, who are forced to innovate at unprecedented speed to meet consumer demand for voice assistants and to stay ahead of their competition.

With Cerence ARK, the company has bundled its industry-leading core voice assistant features, including wake-up word, voice biometrics, automatic speech recognition, natural language understanding, and text to speech, and delivered them in an open, flexible and fast architecture for minimal development and deployment time. Automakers can create a customized experience for their drivers and passengers, with personalized access to everything from music and navigation to points of interest, news feeds and more, leveraging the system’s ability to learn user preferences over time.

“Cerence ARK is a game-changer that helps automakers drastically reduce their development cycles and speed the timeline to deployment, an increasingly important advantage as consumers continue to demand a rapid pace of innovation,” said Charles Kuai, Corporate SVP & President, Greater China Region, Cerence. “ARK’s flexible design and ability to integrate with a wide variety of platforms and operating systems make it an ideal solution for fast-moving Chinese OEMs as they look to quickly expand into global markets along the Belt and Road.”

Cerence ARK is immediately available to automakers in China, and a version will be available worldwide later in 2020. The solution is offered in three service levels – Lite, Standard and Premium – and comes with three key components – ARK Edge, ARK Client and ARK Cloud. The packaging and deployment options give OEMs and suppliers choice and flexibility, with as much or as little support as needed.

To learn more about Cerence, visit www.cerence.com, and follow the company on LinkedIn and Twitter.

About Cerence Inc.
Cerence (NASDAQ: CRNC) is the global industry leader in creating unique, moving experiences for the automotive world. As an innovation partner to the world’s leading automakers, it is helping transform how a car feels, responds and learns. Its track record is built on more than 20 years of knowledge and almost 300 million cars on the road today. Whether it’s connected cars, autonomous driving or e-vehicles, Cerence is mapping the road ahead. For more information, visit www.cerence.com.

Contact Information
Kate Hickman
Cerence Inc.
Tel: 857-239-0131
Email: kate.hickman@cerence.com

Erica Cheng
Gedy Communications for Cerence Inc.
Tel: +86 10 51280868 #1008
Email: erica@gedyinc.com

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