Cabbacis Granted U.S. Patent for Vaporizer Pods
The worldwide patent portfolio of Cabbacis includes 35 issued patents and various pending patent applications across the United States, Europe, China, India, Japan, Indonesia, Russia, South Korea, Canada, Australia, New Zealand, Mexico and Brazil.
U.S. Patent No. 12,349,724, which expires on July 27, 2038, includes ten claims on pods for electronic vaporizers. The claims cover vaporizer pods comprising blends of at least 5 mg of conventional-nicotine reconstituted tobacco and at least 5 mg of hemp, and separately, at least 5 mg of reduced-nicotine reconstituted tobacco and at least 5 mg of hemp. Reconstituted tobacco is typically used in closed-end electronic vaporizer pods. Commercial examples of popular, closed-end electronic vaporizers – also known as heat-not-burn products – include IQOS®, Ploom® and glo®.
Vaporizer pods covered under the 724 patent that contain conventional-nicotine tobacco and hemp will provide consumers with pleasant and differentiated taste and sensory characteristics, as compared to the above vaporizer brands that contain conventional-nicotine tobacco without any hemp.
Cabbacis owns two other previously-issued U.S. patents on vaporizer pods containing tobacco and hemp: 10,777,091 and 10,973,255 along with various international vaporizer pod patents.
The Company's patented, reduced-nicotine, iBlend™ vaporizer pods and patented, reduced-nicotine, iBlend™ cigarettes in development are to assist vapers or smokers of conventional tobacco products to vape or smoke less or transition to less harmful tobacco or nicotine products. iBlend™ reduced-nicotine cigarettes contain approximately 95 percent less nicotine than conventional cigarette brands. The Company's products in development are patented in many of the largest tobacco markets across the globe including the United States, China, Europe, Brazil and Japan.
Joseph Pandolfino, Chief Executive Officer of Cabbacis, commented, 'We are thrilled to announce this new patent for vaporizer pods, further fortifying our already robust intellectual property position. This patent, when taken in tandem with our existing patents, comprehensively cover, across more than 30 countries, any ratio of reduced-nicotine tobacco and hemp blended together in cigarettes and/or any ratio of conventional-nicotine tobacco and hemp or reduced-nicotine tobacco and hemp blended together in vaporizer products.'
About Cabbacis
Cabbacis (OTCQB: CABI) is committed to commercializing groundbreaking tobacco harm-reduction products in the global tobacco market for the world's one billion smokers with its flagship iBlend™ reduced-nicotine cigarettes and vaporizer pods in development. These patent protected products combine reduced-nicotine tobacco with non-intoxicating hemp to assist in vaping or smoking less, transitioning to less harmful tobacco products, and/or increasing quit attempts. Both types of products in development are predominately tobacco and include hemp. In a recent clinical trial, the Company's patented, reduced-nicotine iBlend™ cigarettes were highly rated for satisfaction on the standardized mCEQ questionnaire and significantly reduced cravings for usual brand cigarettes. The Company also plans to commercialize reduced-nicotine tobacco cigarettes and little cigars without hemp and vaporizer pods with conventional-nicotine tobacco and hemp.
The worldwide patent portfolio of Cabbacis LLC includes 35 issued patents and various pending patent applications across the United States, Europe, China, India, Japan, Indonesia, Russia, South Korea, Canada, Australia, New Zealand, Mexico, Brazil and other countries – where approximately two-thirds of the world's smokers reside. Cabbacis holds 7 U.S. patents. Cabbacis LLC is a wholly-owned subsidiary of Cabbacis Inc.
To learn more about Cabbacis, please visit cabbacis.com.
About Reduced-Nicotine Cigarettes
Reduced-nicotine cigarettes without hemp that contain about 95 percent less nicotine than conventional cigarettes have been evaluated in dozens of independent studies. Results demonstrate, as reviewed in Donny and White 2022 (Int J Drug Policy 99:103436), that subjects smoked fewer cigarettes per day, reduced their nicotine dependence and exposure, doubled their quit attempts, and/or increased their number of smoke-free days.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the federal securities law. All statements other than statements of historical or current facts made in this document are forward-looking. We identify forward-looking statements in this document by using words or phrases such as 'anticipate,' 'believe,' 'consider,' 'continue,' 'could,' 'estimate,' 'expect,' 'foresee,' 'intend,' 'likely,' 'may,' 'objective,' 'potential,' 'plan,' 'predict,' 'project,' 'seek,' 'should,' 'will' and similar words or phrases and their negatives. Forward-looking statements reflect our current expectations and are inherently uncertain. Actual outcomes or results could differ materially for a variety of reasons. Factors that could cause actual results to differ materially are described in 'Risk Factors' in our Regulation A Offering Circular filed with the SEC and in our Annual Report on Form 1-K for the period ended December 31, 2024 filed with the SEC. We undertake no responsibility to publicly update or revise any forward-looking statement except as required by applicable law.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Company's securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of that state or jurisdiction.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
25 minutes ago
- Business Wire
FHLBank Pittsburgh Announces Second Quarter 2025 Operating Highlights
PITTSBURGH--(BUSINESS WIRE)--The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for the second quarter and six months ended June 30, 2025. Financial Highlights: Second quarter net income of $111.7 million Second quarter net interest income of $167.8 million Declared a second quarter dividend on activity stock at 9.50% annualized Declared a second quarter dividend on membership stock at 4.85% annualized Credit Product Balances: Advances at $52.5 billion Mortgage loans held for portfolio, net at $5.1 billion Standby letters of credit at $28.1 billion Community Product Assessment and Contributions: Statutory Affordable Housing Program (AHP) second quarter assessment of $12.5 million for use in 2026 Second quarter voluntary contributions of $10.5 million to community investment products and a supplemental voluntary contribution to AHP of $1.3 million Statements of Income FHLBank's net income totaled $111.7 million for the second quarter of 2025, compared to $149.2 million for the second quarter of 2024. The $37.5 million decrease in net income was driven primarily by the following: Net interest income was $167.8 million for the second quarter of 2025, a decrease of $29.3 million from $197.1 million during the same prior-year period. Interest income was $1,115.8 million for the second quarter of 2025, compared to $1,516.1 million in the same prior-year period. This decrease was driven by lower short-term interest rates and lower average advances. Interest expense was $948.0 million for the second quarter of 2025, compared to $1,319.0 million in the same prior-year period. This decrease was the result of lower short-term interest rates and lower average consolidated obligations. Noninterest income (loss) was $1.5 million for the second quarter of 2025, compared to $10.5 million in the same prior-year period. This $9.0 million decrease was due primarily to valuation changes in FHLBank's derivative and trading securities portfolios resulting from interest rate volatility. Other expense was $32.6 million for the second quarter of 2025, compared to $30.9 million in the same prior-year period, an increase of $1.7 million. This increase was primarily driven by higher compensation and benefits, including higher non-qualified benefit plan expense. Voluntary contributions to community investment products were $11.8 million, including a supplemental voluntary contribution to AHP of $1.3 million, for the second quarter of 2025, an increase of $1.6 million compared to $10.2 million in the same prior-year period. FHLBank will continue to make voluntary contributions of at least 5% of the prior year's pre-assessment net income to voluntary community investment products, a commitment target of $35.3 million. In addition, FHLBank will continue to make a supplemental voluntary contribution to AHP to increase the pool of available AHP funds to the amount that would have been statutorily required, absent FHLBank's voluntary contributions. Statutory AHP assessments were $12.5 million as a result of second quarter 2025 earnings, compared to $16.6 million in the same prior-year period. FHLBank's net income totaled $231.8 million for the six months ended June 30, 2025, compared to $303.2 million for the same prior-year period. The $71.4 million decrease in net income was driven primarily by the following: Net interest income was $340.0 million for the six months ended June 30, 2025, a decrease of $52.8 million from $392.8 million during the same prior-year period. Interest income was $2,313.9 million for the six months ended June 30, 2025, compared to $3,055.2 million in the same prior-year period. This decrease was driven by lower short-term interest rates and lower average advances. Interest expense was $1,973.9 million for the six months ended June 30, 2025, compared to $2,662.4 million in the same prior-year period. This decrease was the result of lower short-term interest rates and lower average consolidated obligations. Noninterest income was $1.4 million for the six months ended June 30, 2025, compared to $25.4 million in the same prior-year period. This $24.0 million decrease was due primarily to valuation changes in FHLBank's derivative and trading securities portfolios resulting from interest rate volatility. Other expense was $63.5 million for the six months ended June 30, 2025, compared to $62.1 million in the same prior-year period, an increase of $1.4 million. This increase was primarily driven by higher compensation and benefits, including non-qualified benefit plan expense. Voluntary contributions to community investment products were $18.8 million, including a supplemental voluntary contribution to AHP of $2.0 million, for the six months ended June 30, 2025, an increase of $1.7 million compared to $17.1 million in the same prior-year period. FHLBank will continue to make voluntary contributions of at least 5% of the prior year's pre-assessment net income to voluntary community investment products, a commitment target of $35.3 million. In addition, FHLBank will continue to make a supplemental voluntary contribution to AHP to increase the pool of available AHP funds to the amount that would have been statutorily required, absent FHLBank's voluntary contributions. Statutory AHP assessments were $25.8 million based on earnings for the six months ended June 30, 2025, compared to $33.8 million in the same prior-year period. Statements of Condition At June 30, 2025, total assets were $89.3 billion, compared with $106.9 billion at December 31, 2024. The decrease was primarily due to a decline in advances, which totaled $52.5 billion at June 30, 2025, compared to $69.9 billion at year-end 2024. Demand for advances continues to be driven by members' liquidity management practices, which are influenced by their loan demand, deposit balances and investment activities. Although advances decreased, it is not uncommon for fluctuations in advances to be driven by changes in member needs. Total capital at June 30, 2025, was $5.1 billion, compared to $5.6 billion at December 31, 2024, including retained earnings of $2.2 billion at June 30, 2025, compared to $2.1 billion at December 31, 2024. At June 30, 2025, FHLBank remained in compliance with all regulatory capital requirements. Quarterly Dividends The Board of Directors declared a dividend on subclass B1 (membership) stock equal to an annual yield of 4.85% and a dividend on subclass B2 (activity) stock equal to an annual yield of 9.50%. These dividends will be calculated on stockholders' average balances during the period April 1, 2025, to June 30, 2025, and be credited to stockholders' accounts on July 25, 2025. Looking forward, market, geopolitical, and business conditions can impact FHLBank's overall performance, as well as the levels of future dividends. FHLBank's intent is to continue to provide meaningful shareholder return; future dividend rates may not correspond directly with the pace or direction of interest rate changes. Detailed financial information regarding second quarter and six months ended June 30, 2025, financial results will be available in FHLBank's Quarterly Report on Form 10-Q, which FHLBank anticipates filing no later than August 12, 2025. About FHLBank Pittsburgh FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, which include commercial and savings banks, community development financial institutions, credit unions and insurance companies in Delaware, Pennsylvania and West Virginia. FHLBank products and resources help support community lending, housing and economic development. As one of 11 Federal Home Loan Banks established by Congress, FHLBank has been an integral and reliable part of the financial system since 1932. Learn more by visiting This document contains 'forward-looking statements' - that is, statements related to future, not past, events. In this context, forward-looking statements often address FHLBank's expected future business and financial performance, and often contain words such as 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'seek' or 'will.' Forward-looking statements by their nature address matters that are, to different degrees, uncertain and involve risk. Actual performance or events may differ materially from that expected or implied in forward-looking statements because of many factors. Such factors may include, but are not limited to, economic and market conditions including but not limited to real estate, credit and mortgage markets; volatility of market prices, rates and indices related to financial instruments including but not limited to investments and contracts; the occurrence of man-made or natural disasters, endemics, global pandemics, climate change, conflicts or terrorist attacks, or other geopolitical events; political events, including legislative, regulatory, litigation, or judicial events or actions, including those relating to environmental, social, and governance matters; risks related to mortgage-backed securities (MBS); changes in the assumptions used to estimate credit losses; changes in FHLBank's capital structure; changes in FHLBank's capital requirements; changes in expectations regarding FHLBank's payment of dividends; membership changes; changes in the demand by FHLBank members for FHLBank advances; an increase in advance prepayments; competitive forces, including the availability of other sources of funding for FHLBank members; changes in investor demand for consolidated obligations and/or the terms of interest rate exchange agreements and similar agreements; disruptions in the capital markets; changes in the Federal Home Loan Bank System's debt rating or FHLBank's rating; the ability of FHLBank to introduce new products and services to meet market demand and to manage successfully the risks associated with new products and services; the ability of each of the other Federal Home Loan Banks to repay the principal and interest on consolidated obligations for which it is the primary obligor and with respect to which FHLBank has joint and several liability; applicable FHLBank policy requirements for retained earnings and the ratio of the market value of equity to par value of capital stock; FHLBank's ability to maintain adequate capital levels (including meeting applicable regulatory capital requirements); business and capital plan adjustments and amendments; technology and cybersecurity risks; and timing and volume of market activity. Additional risks that might cause FHLBank's results to differ from these forward-looking statements are provided in detail in FHLBank's filings with the Securities and Exchange Commission, which are available at Forward-looking statements speak only as of the date made and FHLBank has no obligation, and does not undertake publicly, to update or revise any forward-looking statement for any reason. For the three months ended June 30, For the six months ended June 30, Condensed Statement of Income 2025 2024 2025 2024 Total interest income $ 1,115.8 $ 1,516.1 $ 2,313.9 $ 3,055.2 Total interest expense 948.0 1,319.0 1,973.9 2,662.4 Net interest income 167.8 197.1 340.0 392.8 Provision (reversal) for credit losses 0.7 0.7 1.5 2.0 Gains (losses) on investments 0.7 — 3.1 (1.0 ) Gains (losses) on derivatives and hedging (7.7 ) 1.5 (19.6 ) 7.3 Other income 8.5 9.0 17.9 19.1 Other expense 32.6 30.9 63.5 62.1 Voluntary contributions 11.8 10.2 18.8 17.1 Income before assessments 124.2 165.8 257.6 337.0 AHP assessment 12.5 16.6 25.8 33.8 Net income $ 111.7 $ 149.2 $ 231.8 $ 303.2 Expand
Business Wire
25 minutes ago
- Business Wire
CFP Board Announces Search for Next CEO, Engages Spencer Stuart
WASHINGTON--(BUSINESS WIRE)--CFP Board today announced that it has retained executive recruitment firm Spencer Stuart to assist in the search for its next Chief Executive Officer. The search follows the February announcement of CFP Board CEO Kevin R. Keller's planned April 2026 retirement and reflects CFP Board's commitment to a deliberate, strategic transition. 'The Board of Directors is approaching this transition with a clear plan, and we are excited to partner with Spencer Stuart in this important search,' said CFP Board Chair Liz Miller, CFP®, CFA®. Share The Board of Directors began preparing for this transition early in 2025, forming a CEO Search Committee led by 2025 Chair-Elect Terri Kallsen, CFP®. This thoughtful planning allows ample time to conduct a thorough search and engage a broad range of stakeholders. 'The Board of Directors is approaching this transition with a clear plan, and we are excited to partner with Spencer Stuart in this important search,' said CFP Board Chair Liz Miller, CFP®, CFA®. The search begins immediately. 'We're looking for an innovative leader who will not only drive our strategic initiatives forward but also embody the core values of our organization — integrity, commitment to the profession and a focus on the public interest,' said Kallsen. CFP Board invites highly qualified candidates to apply. This process will involve thorough outreach to leaders within the association and financial planning communities to help ensure a broad, well-qualified candidate pool. For inquiries or further information, contact the following at Spencer Stuart: Leslie Hortum (lhortum@ and Sarah Burley Reid (sburleyreid@ ABOUT CFP BOARD CFP Board is the professional body for personal financial planners in the U.S. CFP Board consists of two affiliated organizations focused on advancing the financial planning profession for the public's benefit. CFP Board of Standards sets and upholds standards for financial planning and administers the prestigious CERTIFIED FINANCIAL PLANNER® certification — widely recognized by the public, advisors and firms as the standard for financial planners — so that the public has access to the benefits of competent and ethical financial planning. CFP® certification is held by more than 100,000 people in the U.S. CFP Board Center for Financial Planning addresses diversity and workforce development challenges and conducts and publishes research that adds to the financial planning profession's body of knowledge. ABOUT SPENCER STUART Spencer Stuart is a global executive search and leadership advisory firm that works with organizations to help them find and develop the leaders they need to succeed in a complex and rapidly changing world.
Business Wire
25 minutes ago
- Business Wire
Milliman analysis: Public pension funding rises in June to highest level since 2021
SEATTLE--(BUSINESS WIRE)-- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which analyzes data from the nation's 100 largest public defined benefit plans. As of June 30, 37 of the 100 largest public pension plans are more than 90% funded, compared to 30 at the end of May, while only 11 plans are less than 60% funded. Share A second consecutive month of strong investment returns generated a $115 billion increase in the PPFI plans' funded status during June. In aggregate, the plans saw estimated market gains of 2.3% for the period, with individual plans' estimated returns ranging from 1.5% to 3.6%. These results lifted the value of plan assets from $5.327 trillion as of May 31 to $5.457 trillion as of June 30. Meanwhile, the deficit between plan assets and liabilities shrank from $1.242 trillion at the end of May to $1.127 trillion at the end of June. This boosted the PPFI plans' funded ratio from 81.1% as of May 31 to 82.9% as of June 30—the highest level seen since December 31, 2021. Now, 37 of the plans are more than 90% funded, compared to 30 at the end of May, while only 11 plans are less than 60% funded. 'June 30 marks the end of the fiscal year for 78 of the 100 PPFI plans, so the current favorable market conditions should translate into improved results in upcoming financial reports,' said Becky Sielman, co-author of the Milliman PPFI. 'It is possible the recent strong investment returns will ease the pressure on plan sponsors to increase contributions.' Public Pension Funding Index or Milliman's full range of annual Pension Funding Studies. To receive regular updates of Milliman's pension funding analysis, contact us at pensionfunding@ About Milliman Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at
