Latest news with #financialdisclosure
Globe and Mail
3 days ago
- Business
- Globe and Mail
ScanTech AI Files Its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission (SEC)
Atlanta, GA, July 28, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (the "Company" or "ScanTech AI") (Nasdaq: STAI), a leading innovator in advanced security screening technologies, today announced that it has filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 (the 'Form 10-Q'), with the U.S. Securities and Exchange Commission ('SEC'). With this filing, the Company expects to resolve the deficiency relating to Nasdaq Listing Rule 5250(c)(1) for which the Company was in noncompliance as a result of not having timely filed the Form 10-Q. ScanTech AI remains committed to maintaining consistent and transparent financial disclosures moving forward. About ScanTech AI ScanTech AI Systems Inc. (Nasdaq: STAI) has developed one of the world's most advanced non-intrusive 'fixed-gantry' CT screening technologies. Utilizing proprietary artificial intelligence and machine learning capabilities, ScanTech AI's state-of-the-art scanners accurately and quickly detect hazardous materials and contraband. Engineered to automatically locate, discriminate, and identify threat materials and items of interest, ScanTech AI's solutions are designed for use in airports, seaports, borders, embassies, corporate headquarters, government and commercial buildings, factories, processing plants, and other facilities where security is a priority. For more information, visit and Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended ('Exchange Act'), including statements regarding ScanTech AI's management team's expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future, including Nasdaq compliance or noncompliance, possible business combinations, revenue growth and financial performance, product expansion and services. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Additionally, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'continue,' 'ongoing,' 'target,' 'seek' or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on the current expectations and beliefs made by the management of ScanTech AI, in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effect on ScanTech AI, as well as other factors they believe are appropriate under the circumstances. There can be no assurance that future developments affecting ScanTech AI will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including product and service acceptance, regulatory oversights, research and development success, and that ScanTech AI will have sufficient capital to operate as anticipated. Should one or more of these risks of uncertainties materialize, or should any of the assumptions of ScanTech AI prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading 'Risk Factors' and in other sections of the filings of ScanTech AI (and its predecessor, Mars) with the U.S. Securities and Exchange Commission (the 'SEC'), and in the current and periodic reports filed or furnished by ScanTech AI (and its predecessor, Mars) from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on the information available to ScanTech AI as of the date hereof, and ScanTech AI assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may otherwise be required under applicable securities laws.
CBC
14-07-2025
- Business
- CBC
Poilievre takes aim at Prime Minister Carney's record as he prepares for byelection
Pierre Poilievre briefed the public in Ottawa Monday, criticizing Prime Minister Mark Carney, and calling for stricter financial disclosure rules. Poilievre shared his thoughts on the Alberta separatist movement and Bill C-5.
The Independent
11-07-2025
- Business
- The Independent
Trump aide waited months to unload his TruthSocial stock. Then he sold hours before ‘Liberation Day' tanked the markets
An aide to President Donald Trump sold up to $5 million worth of Trump Media stock the day before the 'Liberation Day' tariffs were announced. Dan Scavino, White House deputy chief of staff, sold stock worth between $1 million and $5 million on April 1, according to financial disclosure reports first obtained by USA Today. Trump Media is the parent company of Trump's TruthSocial social media platform. Scavino sold the day before the president officially announced reciprocal tariffs on U.S. trading partners. The announcement caused the markets to plummet and prompted Trump to put a 90-day pause on the tariffs on April 9, by which point the markets had slumped 12 percent. Stocks for Trump Media fell by about 11 percent. If government officials buy or sell stock worth more than $1,000, they are required to file disclosure reports. Scavino signed the financial disclosure report on May 20 after he received a 90-day filing extension, documents show. Sergio Gor, director of the White House Presidential Personnel Office, also sold Trump Media stock worth between $15,001 and $50,000 on March 27, a few days before the tariff announcement. The White House said the sales had 'nothing to do with the tariff announcement' when approached by The Independent. 'White House senior staff, including Deputy Chief of Staff Scavino and PPO Director Gor, fully comply with the executive branch ethics rules, attending required ethics briefings and complying with conflict of interest and financial reporting obligations,' spokesperson Taylor Rogers said. 'Gor's transaction had nothing to do with the tariff announcement,' Rogers added. 'In fact, he even took a loss from selling his stocks, which debunks any false narrative peddled by the fake news.' Gor also signed his disclosure report on May 20 after receiving a 90-day filing extension. Officials in the federal government and Congress are prohibited from trading stock based on nonpublic information, according to the 2023 Stop Trading on Congressional Knowledge Act. It's possible that trades by government officials prompted by information not available to the public could cross the bounds of the law. However, such cases against officials are complicated, and judges have recently narrowed the scope of what is unlawful insider trading, ProPublica noted. In the case of Trump's aides, watchdogs said the timing of the sale raises ethical questions. 'White House officials are supposed to avoid even the appearance of a conflict of interest, but owning or selling shares in the sitting president's media company does just the opposite,' Cynthia Brown, senior ethics counsel at the watchdog Citizens for Responsibility, told USA Today. 'These disclosures show that Trump's senior advisers' investments are tied into their boss' media company,' Brown continued. 'While that may not be prohibited by law by itself, when coupled with the extent to which Trump's media outlets are being integrated into the Administration's agenda, it begs the question of whether this is another mechanism for the President and his advisers to financially benefit personally from their government agenda.' Pam Bondi sold millions of dollars in shares in Trump Media the same day the tariffs were announced. According to Bondi's disclosure forms, she sold between $1 million and $5 million of shares in Trump Media on April 2, but the forms didn't state if the sales took place before or after the markets closed.
Yahoo
08-07-2025
- Entertainment
- Yahoo
Denise Richards and Aaron Phypers' Alleged Monthly Expenses Revealed in Divorce Filing, Including Up to $25K on Food Alone
Denise Richards and Aaron Phypers' estimated monthly expenses have been revealed in his divorce filing Phypers claims he makes $0 while Richards brings home more than $250,000 a month, partly from her OnlyFans, in court documents obtained by PEOPLE The former couple also allegedly spend $105,000 per month, including $25,000 on food and household supplies aloneDenise Richards' estranged husband Aaron Phypers is breaking down the financial aspects of their relationship. Phypers, 52, filed for divorce from Richards, 54, on Monday, July 7, after six years of marriage. He cited "irreconcilable differences" as the reason for their split and listed Friday, July 4, as their date of separation. Phypers revealed in court documents obtained by PEOPLE that he has "not made income" since he "had to close down" his wellness company, Quantum 360 Club, in 2024, but claimed that Richards earns more than $250,000 a month thanks to her OnlyFans account, TV work, brand deals and appearances. A big portion of this amount went to food, with Phypers alleging that they spend $15,000 on eating out and $10,000 on groceries and household supplies each month. On top of that, he claimed that that he and the Real Housewives of Beverly Hills alum spend $20,000 a month on clothes, just over the $18,000 amount they pay for rent. Other miscellaneous alleged expenses included $15,000 for entertainment, gifts and vacations; $8,000 for utilities; $7,000 on child care for Richards' adopted daughter, Eloise; $5,000 on maintenance and repairs; $5,000 on laundry and cleaning; $1,500 for cars and transportation; and a $500 phone bill. Phypers marked that $0 were spent monthly on life and accident insurance, savings and investments and charitable contributions. He is requesting spousal support from Richards and asking that they each keep certain assets and debts as separate property, specifically asking for his power tools, motorcycle and sports car. The former couple began dating in June 2017. After keeping their engagement private, they tied the knot in Malibu in September 2018. Before they coupled up, Richards was married to Two and a Half Men star Charlie Sheen, whom she shares daughters Sami and Lola, from 2002 to 2006. Phypers, on the other hand, was briefly married to Desperate Housewives actress Nicolette Sheridan. After marrying in December 2015 and separating in June 2016, they finalized their divorce in August 2018. Richards and Phypers documented their relationship on the Bravo reality show, Denise Richards & Her Wild Things. Richards even said during a March episode that she was "never getting divorced again," even if they "hate each other." Read the original article on People
Yahoo
04-07-2025
- Business
- Yahoo
Democratic Congressman Suozzi's $50,000 stock sale took advantage of a loophole in Congressional disclosure rules
Rep. Tom Suozzi (D-N.Y.) sold up to $50,000 of Global Industrial Co. stock in March 2025, despite never publicly disclosing ownership due to a now-closed loophole in federal law. Suozzi received the stock as unvested compensation in 2023 and did not report it, citing then-current disclosure rules. He has a history of delayed or missing disclosures and past violations of the STOCK Act. WASHINGTON — When Rep. Tom Suozzi (D-N.Y.) sold a chunk of his personal stock holdings two days before President Donald Trump's 'Liberation Day' tariff announcements in April, the transaction appeared to be yet another routine financial move for someone Congress itself once investigated for his often opaque trading habits. But Suozzi's March 31 sale of up to $50,000 worth of Global Industrial Co. stock is notable for what it's not: The congressman has never publicly disclosed owning the stock, prompting the question of how a federal lawmaker can sell a security he doesn't appear to own in the first place. The answer? Suozzi simply didn't disclose his Global Industrial Co. stock, which he obtained more than two years ago, because of an apparent loophole in federal law—a loophole recently closed by Congress to address stock situations precisely like Suozzi's, according to a Fortune review of federal documents and interviews with government officials. Suozzi's mysterious stock trade comes at a time when a bipartisan coalition in Congress are agitating to ban federal lawmakers from trading stocks altogether. They cite what they regard as abuses of a financial disclosure law known as the Stop Trading on Congressional Knowledge Act. Suozzi has violated the STOCK Act's disclosure provision on four different occasions earlier this decade, according to media reports. House Speaker Mike Johnson (R-La.), House Minority Leader Hakeem Jeffries (D-N.Y.) and even President Donald Trump have offered support, in principle, for a congressional stock-trade ban. Suozzi's congressional office told Fortune the congressman has done nothing wrong by not yet reporting his Global Industrial Co. stock ownership, arguing that he followed congressional rules that applied to him when he last filed mandatory personal financial disclosures in 2024. 'Congressman Suozzi has complied completely with the rules of House Ethics,' Suozzi Chief of Staff Matt Fried told Fortune. Suozzi's latest stock saga began in June 2023. That month, according to Securities and Exchange Commission records, Suozzi received $50,000 worth of restricted, unvested stock in Global Industrial Co., while serving as a 'non-management director' of the company after leaving Congress earlier that year following a failed campaign for governor of New York. Later that year, Suozzi decided to run in a special election for New York's 3rd Congressional District seat, which Rep. George Santos (R-N.Y.) vacated after the House of Representatives expelled him amid a swathe of federal criminal charges on which he was later csentenced to more than seven years in prisononvicted. When Suozzi filed a mandatory candidate financial disclosure report on January 12, 2024, he did not disclose his stock in Global Industries Co. The company markets industrial and repair products through various e-commerce websites. Nor did he disclose it in two subsequent financial disclosures, in August and September of 2024, after he won his congressional seat in February 2024. The three financial disclosures applied to Suozzi's personal financial activity during 2023. Fried explained that Suozzi's Global Industries Co. stock 'had not vested and had no value' when Suozzi filed his personal financial disclosure in January 2024. Because House Committee on Ethics financial disclosure rules at the time did not specifically address unvested stock holdings, Suozzi did not disclose his Global Industries Co. stock holding, Fried said. However, Suozzi's Global Industries Co. stock did vest at some point between Suozzi's financial disclosure on Jan. 12, 2024, and his swearing-in to Congress on Feb. 28, 2024, Fried said. The Global Industries Co. stock 'will be reflected' when Suozzi discloses his 2024 personal financial activity in a document that must be filed by August 2025, Fried said. In May, Suozzi requested, and received, a 90-day extension to file it., Fried said. When the House Committee on Ethics released updated disclosure rules earlier this year, it included new language directly addressing the kind of situation Suozzi finds himself in, although it doesn't appear to apply to members of Congress retroactively. 'You are required to disclose for yourself, your spouse, or dependent children your participation in a restricted stock plan if the value of stock was more than $1,000 at the end of the reporting period or earned more than $200 in income during the reporting period,' the House guidance reads. 'Provide the name of the unvested stock (vested stock should be disclosed on a separate line item), value, type of income and amount.' Tom Rust, chief counsel for the House Committee on Ethics, declined to comment. 'These disclosure requirements are important because they're the only sort of ethical obligation members of Congress have been willing to impose on themselves,' said Walter Shaub, a former director of the U.S. Office of Government Ethics. 'If they'd finally pass the long-languishing stock trading ban to uphold the bedrock ethical principle of avoiding conflicts of interest, they wouldn't have to worry about these disclosures.' In 2021, NPR reported — citing research from the Campaign Legal Center, a nonpartisan watchdog group — that Suozzi failed to properly disclose about 300 financial transactions. Separately, Business Insider reported that Suozzi — on three different occasions in March, May and December of 2022 — violated the STOCK Act by waiting months or years past a federal deadline to disclose dozens of additional stock trades. 'Quite frankly, we have a lot going on in Congress. I have a lot of other stuff going on. And it's just not—ethics is a big priority for me. But the—some of the formalities are not necessarily something I make a priority of,' Suozzi told the independent Office of Congressional Ethics in 2022 during its investigation of his stock trading practices, while noting a financial adviser directed his trades. The Office of Congressional Ethics's board unanimously referred Suozzi to the House Committee on Ethics, writing that there was 'substantial reason to believe' Suozzi had failed to properly disclose hundreds of personal stock trades. But the House Committee on Ethics, which members of Congress themselves constitute, unanimously concluded in July 2022 that there 'was not clear evidence' that Suozzi committed a 'knowing or willful' violation of the STOCK Act. The committee declined to penalize him. In his second stint as a congressman, Suozzi is a member of the House Committee on Ways and Means, which is responsible for tax-writing, revenue-raising and other core government financial functions. He sits on the committee's oversight and tax subcommittees, as well. Fried, Suozzi's chief of staff, said Suozzi backs the Bipartisan Restoring Faith in Government Act of 2025, one of several pending bills that, if passed, would ban or otherwise limit members of Congress from trading individual stocks. On May 5, Suozzi became a co-sponsor of the bill, which is also sponsored by 10 other ideologically diverse lawmakers ranging from Reps. Brian Fitzpatrick (R-Pa.) to Alexandria Ocasio-Cortez (D-N.Y.). When Suozzi sold his Global Industrial Co. stock on March 31, it was trading around $22 per share — down from about $27 a share when he obtained it in June 2023. It's the only stock trade Suozzi has reported making this year after reporting making just a handful last year. 'The congressman has made a point of not buying or selling stock since his new term began in January,' Fried said. 'This was his only trade. It was done to raise money to pay fees to his financial adviser. This stock was sold because it was the only stock in which he had no capital gains.' Dave Levinthal is a Washington, D.C.-based investigative journalist. Dave previously worked as editor-in-chief of Raw Story, deputy editor at Business Insider and as an editor or reporter at the Center for Public Integrity, Politico, OpenSecrets and the Dallas Morning News. He has also written for The Atlantic, TIME, Rolling Stone, Columbia Journalism Review, the Daily Beast, NOTUS and The Ankler. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
