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Argo Corporation Reports Fiscal Year 2024 Financial Results

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TORONTO, May 1, 2025 /CNW/ – Argo Corporation (TSXV: ARGH), (OTCQX: ARGHF) (“Argo” or the “Company”), leader in next-generation transit solutions, announced its audited financial results for the fiscal year ended December 31, 2024. Highlights include the launch of Argo’s proprietary Smart Routing™ transit system, significant growth in the revenues of FoodsUp Inc., and a successful operational transition resulting in the removal of $13 million in liabilities from its balance sheet.

In Q1 2025, the Company received approximately $2.5 million in proceeds from the sale of 5,855 subordinate-voting shares of FoodsUp Inc. All figures are in Canadian dollars unless otherwise noted.

Launch of Smart Routing™ Transit System

Argo developed and deployed the world’s first fully vertically integrated Smart Routing™ transit system. This end-to-end platform combines real-time routing software, electric vehicles and full-service operations to deliver dynamic, on-demand transit services.

Research & Development: The company invested $1.5 million in research and development to build its proprietary Smart Routing™ hardware and AI-powered software ecosystem, including vertical integration hardware onboard its Argo X1 electric vehicles.Argo Transit: In December, Argo signed a partnership with the town of Bradford West Gwillimbury to deploy the world’s first vertically integrated Smart Routing™ transit system. The system is being rolled out gradually to replace the town’s fixed-route bus system.Argo School: The company successfully launched Argo School in September, which continues to serve multiple schools across Ontario with safe, on-demand student transportation.

FoodsUp Inc.

The company held a 56.386% non-controlling interest in FoodsUp Inc. as of December 31, 2024. FoodsUp is one of Canada’s leading restaurant supply platforms, with annual revenues of $108 million in fiscal 2024.

Option Agreements: In Q1 2025, the Company entered into two option agreements granting the holders thereof the irrevocable option to purchase up to a total of 45,932 subordinate-voting shares of FoodsUp at a price per share of up to $658 in the coming quarters. The closing of the transactions contemplated under the option agreements is subject to any required approvals, which include approval of the TSX Venture Exchange.Distribution Transaction: The Company continues to pursue its plan to provide its shareholders with either the net proceeds of sale of the majority of its interest in FoodsUp to a third party, or an indirect or tracking ownership interest in FoodsUp as of a to-be-determined record date. Such a distribution transaction is subject to any required approvals, including approval of the TSX Venture Exchange.

Operational Transition

The company has made significant progress in its discontinuation of legacy operations related to prior ventures of the predecessor in its corporate entity.

Sale of Assets: In Q3 2024, the company received $750,000 in proceeds for the sale of 14,200 shares of preferred stock in the capital of Westbrook Global Inc. The Company received approximately $2.5 million in proceeds from the sale of 5,855 subordinate-voting shares of FoodsUp Inc. in Q1 2025.Reduction in Legacy Liabilities: In 2024, Argo removed $13 million in liabilities from its balance sheet related to discontinued operations in two legacy subsidiaries, which were assigned into bankruptcy under the Bankruptcy and Insolvency Act in Canada, and to an assignee for liquidation under a General Assignment for the Benefit of Creditors pursuant to California Law, respectively. These removals were completed in accordance with IFRS and reflect the full discharge of those obligations. Additionally, in Q4 2024, the company filed a statement of claim in connection with a disputed office lease, which remains as a $2.4 million liability on the balance sheet as of December 31, 2024.

For detailed information, please refer to Argo’s 2024 Annual Consolidated Financial Statements and its Management Discussion and Analysis of Financial Condition and Results of Operations for the years ended December 31, 2024 and 2023 (the “2024 Annual MD&A”), filed on SEDAR+ at www.sedarplus.ca. The following table provides a summary of Argo’s financial results for the years ended December 31, 2024 and 2023:

For the years ended December 31,

2024

2023

REVENUE

$1,564,865

$14,834,490

Cost of revenue

$236,091

$14,419,193

General and administration

6,560,070

3,831,910

Operational support

1,657,225

3,272,198

Research and development

1,454,184

606,765

Sales and marketing

186,324

521,852

Provision for trade and other receivables

115,207

726,112

Amortization & depreciation

383,311

1,376,311

Depreciation

56,271

704,511

Total operating expenses

10,592,412

24,754,341

OPERATING LOSS

($9,027,547)

($9,919,851)

OTHER INCOME (EXPENSES)

Government grant

(48,450)

Foreign exchange gain/ (loss)

(144,224)

(14,191)

Interest expenses

(2,026,312)

(278,525)

Interest income

4,000

22,734

Other expense

(538,660)

Loss on termination

(30,712)

Loss on shares for debt settlements

(90,763)

Write-off of accounts payable settlements

392,462

Gain/ (Loss) from the spin-off of a subsidiary

33,791,897

Fair value gain (loss) on investments

568,402

(919,077)

Loss on sale of investment

(159,063)

Gain on forgiveness of debt

114,913

Penalties and settlement

(36,671)

Derecognition of right-of-use assets

(2,366,016)

Share of loss of an associate

(3,842,146)

(5,737,886)

Net income/ (loss) from continuing operations

($15,208,783)

$14,530,635

Income tax recovery

Deferred income tax recovery

(129,595)

(58,761)

33,468

69,967

Discontinued Operations

Net loss from discontinued operations, net of tax

(2,724,633)

(14,224,918)

Gain from derecognition, net of tax

14,387,684

NET GAIN (LOSS)

($3,734,088)

$409,152

Cumulative translation adjustment

195,984

616,528

NET PROFIT (LOSS)  AND COMPREHENSIVE PROFIT (LOSS)

($3,538,104)

$1,025,680

(Loss) Profit per share

(Loss) income per share from continuing operations
– Basic and diluted

 

($0.12)

 

$0.11

Income (loss) per share from derecognition and
discontinued operations – Basic and diluted

$0.09

($0.10)

Weighted average shares outstanding – Basic and diluted

133,586,040

132,944,615

All figures rounded to the nearest dollar. Prepared in accordance with IFRS.

About Argo

Founded in June 2024, Argo delivers the world’s first fully vertically integrated transit system, combining Argo X1 electric vehicles, Smart Routing™ technology, and comprehensive operational management in a single end-to-end solution. By integrating every aspect of the transit experience, Argo enables municipalities to transition from traditional fixed-route services to dynamically optimized transit systems that deliver substantially better efficiency, coverage, and rider satisfaction while maintaining standard public transit pricing. The company launched Argo School in September 2024 and began its first municipal deployment in Bradford West Gwillimbury in early 2025. Learn more at www.rideargo.com.

Praveen Arichandran, CEO
Argo Corporation
(800) 575-7051

Forward-Looking Information

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate,” “estimate,” and “intend,” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. The forward- looking information set out in this news release relates to future events or our future performance and includes, without limitation, statements concerning the completion of the the exercise of the options granted pursuant to the option agreements by the holders thereof, Argo’s ability to obtain all necessary approvals in respect of the option agreements and the distribution transaction, and Argo’s intention with respect to the distribution transaction. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, as described in more detail in the Company’s securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements, and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. See “Cautionary Note Regarding Forward-Looking Information”, “Financial Risk Management Objectives And Policies” and “Other Business Risks and Uncertainties”  in the Company’s 2024 Annual MD&A and its interim Management’s Discussion & Analysis for the three and nine months ended September 30, 2024 for a discussion of the uncertainties, risks and assumptions associated with these statements and other risks. Readers are urged to consider the uncertainties, risks, and assumptions carefully when evaluating forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation and regulatory requirements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE ARGO CORPORATION

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Technology

Football Tournament Season Sparks Global Social Connection Surge as 3Fun Reports Growth Across Key Markets

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NEW YORK, July 18, 2026 /PRNewswire/ — As the World Cup enters its final stage and fans celebrate across the globe, new data from 3Fun, the leading dating app for open-minded singles and partners, reveals that the World Cup’s impact extends far beyond the stadium. The tournament has ignited a massive surge in global social activity, with users increasingly turning to the platform to translate sporting euphoria into personal connections.

The “Celebratory Intimacy” Effect: Why Winning Drives Matching

Psychological research has long suggested that major sports victories do more than just boost national pride; they influence human biology and intimacy. Studies indicate that watching a favorite team win can temporarily elevate testosterone levels in fans, leading to a surge in sexual desire and “celebratory intimacy”. This theory is vividly reflected in 3Fun’s latest performance metrics.

Compared with the previous 20-day period, 3Fun saw a 6.13% increase in Daily Active Users (DAU) during the peak of the World Cup season (June 23 – July 12), adding more than 275,000 active participants. The platform’s “heat” was further evidenced by an additional 446,491 messages sent, while the user match rate jumped by 5.71%, resulting in nearly 50,000 new connections.

Spain and Argentina Lead the “Lust for Victory”

The data shows a direct correlation between success on the pitch and activity on 3Fun. Nations with deep football cultures and strong tournament performances saw the highest growth:

Spain: Witnessed a staggering 37.56% surge in new users.Argentina: Followed with a 26.62% increase.France & Mexico: Saw growth rates of 25.44% and 21.42% respectively.

In the U.S., cities like Houston (+8.98%) and New York (+7.45%) led the way. This trend aligns with a broader cultural shift: recent 3Fun data reveals that 69% of Americans report a growing interest in non-traditional relationships, with 77% of seekers preferring dating apps to find compatible partners.

Digital Jet-Setting: 3Fun’s “Roaming” Feature Becomes a Fan Favorite

While millions traveled for the games, many more “traveled” virtually. 3Fun’s new Roaming feature, currently in gray-scale testing, allows users to explore connections beyond their current location by virtually discovering communities in other cities.

The top 10 “Roaming” destinations during the Football Tournament  season reveal where the world’s social interest was concentrated:

Sao Paulo, Brazil (17.35% of total roaming volume)New York, USA (14.82%)Las Vegas, USA (11.37%)Los Angeles, USA (11.19%)London, UK (9.89%)Rio de Janeiro, Brazil (7.40%)Houston, USA (7.36%)Dallas, USA (7.18%)Miami, USA (6.85%)Chicago, USA (6.60%).

The dominance of Brazilian cities like Sao Paulo and Rio de Janeiro highlights a “digital pilgrimage” to the spiritual home of football, where users sought to connect with the local energy and like-minded fans.

3Fun Insight: Connection Beyond the Game

“Major global events like the World Cup bring people together far beyond the borders of the pitch,” said Daniel Morgan, 3Fun’s Director of Social Trends. “Our data shows that users aren’t just looking for scores; they are looking for meaningful, shared experiences. Whether through virtual roaming or local matching, these events create unique windows for people to explore their desires in a safe, celebratory, and inclusive community”.

Daniel further noted, “With 72% of users noticing growing acceptance of diverse relationship styles, global sports events such as the World Cup represent a moment when people feel more open to meeting others and exploring new forms of connection”.

About 3Fun: With over 10 million downloads and 3 million verified active users worldwide, 3Fun is the leading dating app for open-minded singles and partners to meet like-minded people. The platform provides a safe and inclusive space to explore ethical open relationships and polyamory, fostering community and connection without judgment. 

Disclaimer: 3Fun is not affiliated with, endorsed by, or sponsored by FIFA, the World Cup, or any official World Cup organizing body. All references to the tournament are descriptive or for informational and topical context only.

View original content:https://www.prnewswire.com/news-releases/football-tournament-season-sparks-global-social-connection-surge-as-3fun-reports-growth-across-key-markets-302828995.html

SOURCE 3Fun

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Technology

Best AI Design Tools (2026): CapCut Named a Top Choice for Creating Images and Marketing Assets by Software Experts

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NEW YORK, July 18, 2026 /PRNewswire/ — Software Experts has recognized CapCut as a top choice among AI design tools for 2026, citing its AI Design Studio as a standout resource for creating images and marketing assets. The recognition points to the platform’s combination of automated layout generation, image editing, and campaign focused features built for marketers, e-commerce sellers, and content creators.

Best AI Design Tools

CapCut AI Design Studio – a web based design workspace that uses AI to help users create ads, product visuals, and branded content without prior design experience.

Core Capabilities of the AI Design Studio

The AI Design Studio is built around a conversational, infinite canvas that allows users to work with an AI design agent in real time. Instead of starting from a blank template, users type a prompt, upload reference images, and receive layout options generated automatically.

The latest version, Design 2.0, brings references, drafts, assets, and edits into a single workspace. Features include pencil prompting for visual editing, smart layer split for separating subjects and backgrounds, and a One More function that generates new creative directions from an existing design. Users can circle, brush, or mark up an image directly to guide how the AI adjusts a design, rather than relying only on written prompts.

An inspiration hub with built in assets and license free images is also part of the workspace, helping users start projects without sourcing outside materials. Layers for text, subjects, and backgrounds remain editable throughout the process, which allows for adjustments without regenerating an entire design from scratch.

Applications for E-Commerce and Marketing Teams

The AI Design Studio supports several common business use cases, including product content creation, trend based design remixing, and clothing visualization for fashion brands. These features are designed to reduce the time spent on repetitive production tasks, particularly for teams that need to update visuals frequently.

For e-commerce sellers, the tool can generate product main images, banners, and packaging designs from a single uploaded photo, and supports batch replacement across shared backgrounds. A seller managing multiple product lines can apply the same background and layout across different items with one click, rather than recreating each asset individually.

Fashion brands can use the AI clothing try-on feature to visualize how garments appear on different models, helping with catalog updates during seasonal campaigns such as Black Friday. Marketing and social teams can generate assets in multiple styles and resize them automatically for different platforms, which helps maintain consistency across channels without manual reformatting. The trend remixing feature also allows brands to reference the structure of a popular design while keeping the content original to their own products.

Design Automation Powered by Seedream 5.0

For marketing posters and layout heavy assets, the AI Design Studio incorporates the Seedream 5.0 model, which is ranked first on Artificial Analysis’ Text-to-Image Leaderboard. The model is used to arrange visual elements, generate multiple layout variations, and handle typesetting automatically based on uploaded product images.

This approach is intended to reduce the manual work involved in formatting marketing materials. Uploading one or more product photos allows the system to generate several layout options, positioning text, imagery, and other elements without requiring manual placement. Once a layout is generated, users can continue refining it with stickers, filters, or additional effects within the same workspace.

The process is designed to move from prompt to a finished, ready to use asset without requiring separate design software. For teams producing large volumes of seasonal or promotional content, this can reduce the number of tools involved in a single campaign.

Why AI Design Tools Matter for Small Teams

AI design tools are becoming useful because many teams need more visual content than traditional workflows can comfortably support. The Software Experts review notes that marketers, creators, and small businesses often need product images, social graphics, banners, email headers, event posters, and campaign visuals on tight timelines.

For small teams, the main advantage is not simply automation. It is the ability to get to a workable draft faster. Starting from a blank canvas can slow down campaign production, especially when a team is managing several platforms or product lines. AI-assisted design tools can generate starting points, resize assets, suggest layouts, and help keep visuals consistent across channels.

Access and Getting Started

The AI Design Studio is accessible through CapCut desktop by selecting Design Agent from the main dashboard. Users enter a text prompt describing the desired output, optionally upload reference images, and review the generated results.

A typical workflow might involve uploading a reference photo and entering a detailed prompt describing a desired style, color palette, or setting. The AI then generates initial design options based on that input. The built in editor allows for further adjustments, including color changes, auto cutout, element removal, and text overlays, before the final image is downloaded in high resolution.

Software Experts noted that the AI Design Studio is suited to a range of users, from e-commerce sellers managing large catalogs to individual creators producing social media content, as well as marketing teams handling multiple campaigns at once. The tool is offered as part of CapCut’s existing platform, with pricing details available directly through CapCut.

Readers can find the full review at Software Experts.

About CapCut

CapCut is an AI-powered photo and video editing platform designed to make high-quality video creation accessible across devices. The platform supports creators, businesses, and everyday users with tools for video editing, AI video generation, captions, templates, audio, and visual editing. CapCut is available across mobile, web, desktop, and iPad experiences, helping users create, edit, and prepare video content for social media, marketing, education, and personal projects.

About Software Experts: Software Experts delivers in-depth news on the digital tools shaping today’s consumer experience. As an affiliate, Software Experts may earn commissions from sales generated using links provided.

View original content:https://www.prnewswire.com/news-releases/best-ai-design-tools-2026-capcut-named-a-top-choice-for-creating-images-and-marketing-assets-by-software-experts-302828625.html

SOURCE SoftwareExperts.org

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Technology

Best AI Design Tools (2026): CapCut Named a Top Choice for Creating Images and Marketing Assets by Software Experts

Published

on

By

NEW YORK, July 18, 2026 /PRNewswire/ — Software Experts has recognized CapCut as a top choice among AI design tools for 2026, citing its AI Design Studio as a standout resource for creating images and marketing assets. The recognition points to the platform’s combination of automated layout generation, image editing, and campaign focused features built for marketers, e-commerce sellers, and content creators.

Best AI Design Tools

CapCut AI Design Studio – a web based design workspace that uses AI to help users create ads, product visuals, and branded content without prior design experience.

Core Capabilities of the AI Design Studio

The AI Design Studio is built around a conversational, infinite canvas that allows users to work with an AI design agent in real time. Instead of starting from a blank template, users type a prompt, upload reference images, and receive layout options generated automatically.

The latest version, Design 2.0, brings references, drafts, assets, and edits into a single workspace. Features include pencil prompting for visual editing, smart layer split for separating subjects and backgrounds, and a One More function that generates new creative directions from an existing design. Users can circle, brush, or mark up an image directly to guide how the AI adjusts a design, rather than relying only on written prompts.

An inspiration hub with built in assets and license free images is also part of the workspace, helping users start projects without sourcing outside materials. Layers for text, subjects, and backgrounds remain editable throughout the process, which allows for adjustments without regenerating an entire design from scratch.

Applications for E-Commerce and Marketing Teams

The AI Design Studio supports several common business use cases, including product content creation, trend based design remixing, and clothing visualization for fashion brands. These features are designed to reduce the time spent on repetitive production tasks, particularly for teams that need to update visuals frequently.

For e-commerce sellers, the tool can generate product main images, banners, and packaging designs from a single uploaded photo, and supports batch replacement across shared backgrounds. A seller managing multiple product lines can apply the same background and layout across different items with one click, rather than recreating each asset individually.

Fashion brands can use the AI clothing try-on feature to visualize how garments appear on different models, helping with catalog updates during seasonal campaigns such as Black Friday. Marketing and social teams can generate assets in multiple styles and resize them automatically for different platforms, which helps maintain consistency across channels without manual reformatting. The trend remixing feature also allows brands to reference the structure of a popular design while keeping the content original to their own products.

Design Automation Powered by Seedream 5.0

For marketing posters and layout heavy assets, the AI Design Studio incorporates the Seedream 5.0 model, which is ranked first on Artificial Analysis’ Text-to-Image Leaderboard. The model is used to arrange visual elements, generate multiple layout variations, and handle typesetting automatically based on uploaded product images.

This approach is intended to reduce the manual work involved in formatting marketing materials. Uploading one or more product photos allows the system to generate several layout options, positioning text, imagery, and other elements without requiring manual placement. Once a layout is generated, users can continue refining it with stickers, filters, or additional effects within the same workspace.

The process is designed to move from prompt to a finished, ready to use asset without requiring separate design software. For teams producing large volumes of seasonal or promotional content, this can reduce the number of tools involved in a single campaign.

Why AI Design Tools Matter for Small Teams

AI design tools are becoming useful because many teams need more visual content than traditional workflows can comfortably support. The Software Experts review notes that marketers, creators, and small businesses often need product images, social graphics, banners, email headers, event posters, and campaign visuals on tight timelines.

For small teams, the main advantage is not simply automation. It is the ability to get to a workable draft faster. Starting from a blank canvas can slow down campaign production, especially when a team is managing several platforms or product lines. AI-assisted design tools can generate starting points, resize assets, suggest layouts, and help keep visuals consistent across channels.

Access and Getting Started

The AI Design Studio is accessible through CapCut desktop by selecting Design Agent from the main dashboard. Users enter a text prompt describing the desired output, optionally upload reference images, and review the generated results.

A typical workflow might involve uploading a reference photo and entering a detailed prompt describing a desired style, color palette, or setting. The AI then generates initial design options based on that input. The built in editor allows for further adjustments, including color changes, auto cutout, element removal, and text overlays, before the final image is downloaded in high resolution.

Software Experts noted that the AI Design Studio is suited to a range of users, from e-commerce sellers managing large catalogs to individual creators producing social media content, as well as marketing teams handling multiple campaigns at once. The tool is offered as part of CapCut’s existing platform, with pricing details available directly through CapCut.

Readers can find the full review at Software Experts.

About CapCut

CapCut is an AI-powered photo and video editing platform designed to make high-quality video creation accessible across devices. The platform supports creators, businesses, and everyday users with tools for video editing, AI video generation, captions, templates, audio, and visual editing. CapCut is available across mobile, web, desktop, and iPad experiences, helping users create, edit, and prepare video content for social media, marketing, education, and personal projects.

About Software Experts: Software Experts delivers in-depth news on the digital tools shaping today’s consumer experience. As an affiliate, Software Experts may earn commissions from sales generated using links provided.

View original content:https://www.prnewswire.com/news-releases/best-ai-design-tools-2026-capcut-named-a-top-choice-for-creating-images-and-marketing-assets-by-software-experts-302828625.html

SOURCE SoftwareExperts.org

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