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HIREQUEST ISSUES OFFER TO THE BOARD OF DIRECTORS OF TRUEBLUE, INC.

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56 minutes ago

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Cash offer values the on-demand segment of TrueBlue, Inc. in excess of $100 million

GOOSE CREEK, S.C., May 12, 2026 /PRNewswire/ — HireQuest, Inc. (Nasdaq: HQI) announced today that it has submitted to the Board of Directors of TrueBlue, Inc. (NYSE: TBI) a proposal to acquire certain assets of TrueBlue’s People-Ready segment for $105 million in cash.

As previously disclosed, HireQuest (“HQI”) made multiple offers to acquire True Blue, Inc. (“TBI”) in 2025 at prices ranging from $7.50 to $12.30 per share. Each of those offers, however, was rebuffed by the board of directors of TBI (the “TBI Board”). As a result, and also as previously disclosed, HQI was prepared to initiate a tender offer directly to the TBI shareholders and incurred substantial costs in preparing such offer. However, prior to commencing the tender, HQI postponed further shareholder-facing communication in the hopes of engaging with the TBI Board directly on a friendly basis regarding a potential deal.

Now, a year after initially making its interest in a transaction public, no deal between HQI and TBI has materialized. HQI is once again exploring all options with respect to a potential transaction. “We remain interested in acquiring TrueBlue and especially the on-demand portion of the company’s People-Ready segment,” stated Richard Hermanns, CEO of HQI. “We believe the on-demand business is very complimentary to our HireQuest Direct division, and, as a result, we made an attractive all-cash offer earlier today to the TrueBlue Board for them to engage with us in a transaction to sell the on-demand business of TrueBlue’s People-Ready segment to us if they prefer to keep TrueBlue as an independent publicly-traded company.”

“The all-cash proposal for this portion of People-Ready,” Mr. Hermanns continued, “represents a unique opportunity for TrueBlue. This business, which excludes the higher-growth skilled and solar/renewable energy staffing segments, has been an underperformer for TrueBlue for years. As we’ve said in the past, HireQuest’s franchise model is uniquely suited to unlock the value in the on-demand portion of People-Ready. This deal could allow TrueBlue to divest of this underperforming segment and raise a substantial amount of cash that could be used to repay debt, grow and diversify its business strategically, or even make a sizeable special dividend to TrueBlue shareholders. Based on disclosures in their most recent proxy statement, this proposal represents $3.45 per share of TrueBlue stock.”

In closing, Mr. Hermanns added, “We hope the Board of TrueBlue will view this opportunity for what it is – a clear path to creating incremental shareholder value for TrueBlue shareholders.” 

About HireQuest, Inc.

HireQuest is a franchisor of staffing solutions with a footprint across the U.S. and international markets. Through its primary divisions – HireQuest Direct, HireQuest Health, Snelling, TradeCorp and DriverQuest – the company delivers temporary, direct-hire, and contract workforce solutions across a wide range of industries, including construction, light industrial, healthcare, finance, manufacturing, hospitality, logistics and more. From on-demand staffing to direct hire recruiting, HireQuest’s divisions work together to provide workforce solutions that help businesses grow and create meaningful opportunities for the communities we serve. For more information, visit www.hirequest.com

Forward-looking Statements

This news release includes, and HireQuest’s officers and other representatives may sometimes make or provide certain estimates and other forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act, including statements regarding the proposed transaction, benefits and synergies of the proposed transaction and future opportunities for the combined company, including statements regarding value, profitability or growth prospects of the combined company. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods.

While HireQuest believes these statements are accurate, forward-looking statements are not historical facts and are inherently uncertain. They are based only on HireQuest’s current beliefs, expectations, and assumptions regarding the future of its and TrueBlue’s business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. HireQuest cannot assure you that these expectations will occur, and its actual results may be significantly different. Therefore, you should not place undue reliance on these forward-looking statements. Important factors that may cause actual results to differ materially from those contemplated in any forward-looking statements made by HireQuest, include but are not limited to the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any definitive agreement will be materially different from those described herein; uncertainties as to whether TrueBlue will cooperate with HireQuest regarding the proposed transaction; HireQuest’s ability to consummate the proposed transaction with TrueBlue; the conditions to the completion of the proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals; the possibility that HireQuest may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate TrueBlue’s operations with those of HireQuest; that such integration, including any proposed conversion to franchises, may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; that the retention of certain key employees may be difficult; that any or all of such factors could result in lower profitability of the combined businesses than of HireQuest currently; and general economic conditions that are less favorable than expected. Additional risks that may affect HireQuest’s operations and other factors discussed in the “Risk Factors” section and elsewhere in HireQuest’s most recent Annual Report on Form 10-K and the quarterly reports on Form 10-Q filed thereafter. 

Any forward-looking statement made by HireQuest or its management in this news release is based only on information currently available to HireQuest and speaks only as of the date on which it is made. HireQuest and its management disclaim any obligation to update or revise any forward-looking statement, whether written or oral, that may be made from time to time, based on the occurrence of future events, the receipt of new information, or otherwise, except as required by law.

Important Additional Information

This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication relates to a proposal that HireQuest has made for a business combination transaction with TrueBlue. In furtherance of this proposal and subject to future developments, HireQuest (and, if applicable, TrueBlue) may file one or more registration statements, consent solicitation or proxy statements, tender offer statements, prospectuses or other documents with the Securities and Exchange Commission (the “SEC”). However, such filings will not be made unless required. This communication is not a substitute for any registration statement, consent solicitation or proxy statement, tender offer statement, prospectus or other document HireQuest and/or TrueBlue may file with the SEC in connection with the proposed transaction.

Investors and security holders of TrueBlue and HireQuest are urged to read any registration statement(s), consent solicitation or proxy statement(s), tender offer statement(s), prospectus(es) and/or other documents that may be filed with the SEC carefully in their entirety if and when they become available as they will contain important information about the proposed transaction.

Any final prospectus(es) and definitive consent solicitation or proxy statement(s) (if and when available) will be mailed to shareholders of True Blue and/or HireQuest, as applicable. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by HireQuest through the web site maintained by the SEC at www.sec.gov, and by visiting HireQuest’s investor relations site at investors.hirequest.com.

This document shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

This communication is neither a solicitation of a consent or proxy nor a substitute for any consent solicitation or proxy statement or other filings that may be made with the SEC. Nonetheless, to the extent a TrueBlue shareholder vote is required, HireQuest and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of consents or proxies in respect of the proposed transactions. You can find information about HireQuest’s executive officers and directors in its Proxy Statements on Schedule 14A filed with the SEC on April 30, 2026. Additional information regarding the interests of such potential participants will be included in one or more registration statements, consent solicitation or proxy statements, tender offer statements or other documents if and when they become available. These documents (if and when available) may be obtained free of charge from the SEC’s website www.sec.gov, and by visiting HireQuest’s investor relations site at investors.hirequest.com.

Company Contact:
HireQuest
David Hartley, Chief Financial Officer
(800) 835-6755
Email: cdhartley@hirequest.com

Investor Relations Contact:
IMS Investor Relations
John Nesbett/Jennifer Belodeau
(203) 972-9200
Email: hirequest@imsinvestorrelations.com

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SOURCE HireQuest

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Technology

QuickLogic Reports Fiscal First Quarter 2026 Financial Results

Published

56 minutes ago

on

May 12, 2026

By

SAN JOSE, Calif., May 12, 2026 /PRNewswire/ — QuickLogic Corporation (NASDAQ: QUIK) (“QuickLogic” or the “Company”), a developer of embedded FPGA (eFPGA) Hard IP, Strategic Radiation Hardened and Antifuse FPGAs, and ruggedized programmable logic solutions, today announced its financial results for the fiscal first quarter that ended March 29, 2026.

Recent Highlights

Demonstrated RadPro™ FPGA Dev Kit at the 41st Hardened Electronics and Radiation Technology (HEART) ConferenceInitial shipments now underway of its RadPro™ FPGA Dev KitSecured new 7-figure contract for Test Chip to be fabricated on GlobalFoundries 12LP processSecured a mid-6-figure contract to implement high density architectural enhancements to its eFPGA Hard IP targeting Intel 18A technologyAppointed Quantum Leap Solutions as an authorized sales representative for QuickLogic’s IP and chiplet offerings

“Our progress in 2026 continues to leverage our investments in Intel 18A technology and our internally funded RadPro™ FPGA,” said Brian Faith, CEO of QuickLogic. “With the initial shipments of our first RadPro™ Dev Kits, and other developments including our newly signed 12LP contract, our Storefront initiative is building momentum. We believe this progress and our continued execution of strategic objectives position us well to realize our growth objectives for 2026 and beyond.”

Fiscal First Quarter 2026 Financial Results

Total revenue from continuing operations for the first quarter of fiscal 2026 was $5.1 million, an increase of 16.8% compared with the first quarter of 2025 and an increase of 35.3% compared with the fourth quarter of 2025.

New product revenue from continuing operations was approximately $4.3 million in the first quarter of 2026, an increase of $0.5 million, or 14.5%, compared with the first quarter of 2025 and an increase of $1.4 million, or 50.7%, compared with the fourth quarter of 2025.

Mature product revenue from continuing operations was $0.8 million in the first quarter of 2026. This compares to $0.6 million in the first quarter of 2025 and $0.9 million in the fourth quarter of 2025.

First quarter 2026 GAAP gross margin from continuing operations was 36.5% compared with 43.4% in the first quarter of 2025 and 18.1% in the fourth quarter of 2025.

First quarter 2026 non-GAAP gross margin from continuing operations was 39.6% compared with 45.6% in the first quarter of 2025 and 20.8% in the fourth quarter of 2025.

First quarter 2026 GAAP operating expenses from continuing operations were $4.0 million compared with $3.9 million in the first quarter of 2025 and $4.2 million in the fourth quarter of 2025.

First quarter 2026 non-GAAP operating expenses from continuing operations were $3.2 million compared with $3.0 million in the first quarter of 2025 and $3.5 million in the fourth quarter of 2025.

First quarter 2026 GAAP net loss was ($2.2 million), or ($0.13) per share, compared with a net loss of ($2.2 million), or ($0.14) per share, in the first quarter of 2025, and a net loss of ($5.9 million), or ($0.35) per share, in the fourth quarter of 2025.

First quarter 2026 non-GAAP net loss was ($1.3 million), or ($0.08) per share, compared with a net loss of ($1.1 million), or ($0.07) per share, in the first quarter of 2025, and a net loss of ($2.8 million), or ($0.17) per share, in the fourth quarter of 2025.

Conference Call

QuickLogic will hold a conference call at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time today, May 12, 2026, to discuss its current financial results. The conference call will be webcast on QuickLogic’s IR Site Events Page at https://ir.quicklogic.com/ir-calendar. To join the live conference, you may dial (877) 407-0792 and international participants should dial (201) 689-8263 by 2:20 p.m. Pacific Time. No Passcode is needed to join the conference call. A recording of the call will be available approximately one hour after completion. To access the recording, please call (844) 512-2921 and reference the passcode 13760179.

The call recording, which can be accessed by phone, will be archived through May 19, 2026, and the webcast will be available for 12 months on the Company’s website.

About QuickLogic

QuickLogic is a fabless semiconductor company specializing in embedded FPGA (eFPGA) Hard IP, Strategic Radiation Hardened and Antifuse FPGAs, and ruggedized programmable logic solutions. QuickLogic’s unique approach combines cutting-edge technology with open-source tools to deliver highly customizable low-power solutions for aerospace and defense, industrial, computing, and consumer markets. For more information, visit www.quicklogic.com.

QuickLogic uses its website (www.quicklogic.com), the company blog (https://www.quicklogic.com/blog/), corporate X account (@QuickLogic_Corp), Facebook page (https://www.facebook.com/QuickLogic), and LinkedIn page (https://www.linkedin.com/company/13512/) as channels of distribution of information about its products, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and QuickLogic may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the Company’s website and its social media accounts in addition to following the Company’s press releases, SEC filings, public conference calls, and webcasts.

Non-GAAP Financial Measures

QuickLogic reports financial information in accordance with United States Generally Accepted Accounting Principles, or U.S. GAAP, but believes that non-GAAP financial measures are helpful in evaluating its operating results and comparing its performance to comparable companies. Accordingly, the Company excludes certain charges related to stock-based compensation, impairment charges, and restructuring costs, in calculating non-GAAP (i) income (loss) from operations, (ii) net income (loss), (iii) net income (loss) per share, and (iv) gross margin percentage. The Company provides this non-GAAP information to enable investors to evaluate its operating results in a manner like how the Company analyzes its operating results and to provide consistency and comparability with similar companies in the Company’s industry.

Management uses the non-GAAP measures, which exclude gains, losses, and other charges that are considered by management to be outside of the Company’s core operating results, internally to evaluate its operating performance against results in prior periods and its operating plans and forecasts. In addition, the non-GAAP measures are used to plan for the Company’s future periods and serve as a basis for the allocation of the Company’s resources, management of operations and the measurement of profit-dependent cash, and equity compensation paid to employees and executive officers.

Investors should note, however, that the non-GAAP financial measures used by QuickLogic may not be the same non-GAAP financial measures and may not be calculated in the same manner as that of other companies. QuickLogic does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures alone or as a substitute for financial information prepared in accordance with U.S. GAAP. A reconciliation of U.S. GAAP financial measures to non-GAAP financial measures is included in the financial statements portion of this press release. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of non-GAAP financial measures with their most directly comparable U.S. GAAP financial measures.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our future profitability and cash flows, expectations regarding our future business and statements regarding the timing, milestones, and payments related to our government contracts, statements regarding the expected magnitude of potential contracts, and statements regarding expected adoption rates and/or orders by our customers, and actual results may differ due to a variety of factors including: delays in the market acceptance of the Company’s new products; the ability to convert design opportunities into customer revenue; our ability to replace revenue from end-of-life products; the level and timing of customer design activity; the market acceptance of our customers’ products; the risk that new orders may not result in future revenue; our ability to introduce and produce new products based on advanced wafer technology on a timely basis; our ability to adequately market the low power, competitive pricing, and short time-to-market of our new products; intense competition by competitors; our ability to hire and retain qualified personnel; changes in product demand or supply; general economic conditions; political events, international trade disputes, natural disasters, and other business interruptions that could disrupt supply or delivery of, or demand for, the Company’s products; and changes in tax rates and exposure to additional tax liabilities. These and other potential factors and uncertainties that could cause actual results to differ materially from the results contemplated or implied are described in more detail in the Company’s public reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risks discussed in the “Risk Factors” section in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and in the Company’s prior press releases, which are available on the Company’s Investor Relations website at http://ir.quicklogic.com/ and on the SEC website at www.sec.gov/. In addition, please note that the date of this press release is May 12, 2026, and any forward-looking statements contained herein are based on management’s current expectations and assumptions that we believe to be reasonable as of this date. We are not obliged to update these statements due to latest information or future events.

QuickLogic and logo are registered trademarks of QuickLogic. All other trademarks are the property of their respective holders and should be treated as such.

CODE: QUIK-E 

 –Tables Follow –

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(Unaudited) 

Three Months Ended

March 29, 2026

March 30, 2025

December 28,
2025

Revenue

$

5,051

$

4,325

$

3,733

Cost of revenue

3,209

2,448

3,058

Gross profit (loss)

1,842

1,877

675

Operating expenses:

Research and development

1,512

1,268

1,436

Selling, general and administrative

2,437

2,536

2,728

Restructuring costs

11

54

—

Total operating expense

3,960

3,858

4,164

Operating income (loss)

(2,118)

(1,981)

(3,489)

Interest expense

(54)

(97)

(78)

Interest and other (expense) income, net

(33)

(7)

—

Income (loss) before income taxes

(2,205)

(2,085)

(3,567)

(Benefit from) provision for income taxes

(3)

5

13

Net income (loss) from continuing operations

(2,202)

(2,090)

(3,580)

Net income (loss) from discontinued operations, net of taxes and
     inclusive of $87 in restructuring costs for the three months ended
     March 30, 2025

(4)

(101)

(2,368)

Net income (loss)

$

(2,206)

$

(2,191)

$

(5,948)

Net income (loss) from continuing operations per share:

Basic

$

(0.13)

$

(0.14)

$

(0.21)

Diluted

$

(0.13)

$

(0.14)

$

(0.21)

Net income (loss) per share:

Basic

$

(0.13)

$

(0.14)

$

(0.35)

Diluted

$

(0.13)

$

(0.14)

$

(0.35)

Weighted average shares outstanding:

Basic

17,463

15,290

17,103

Diluted

17,463

15,290

17,103

Note: Net income (loss) equals total comprehensive income (loss) for all periods presented. Additionally, the Company notes that income taxes related to discontinued operations were immaterial in nature for the periods presented and as such, only net income (loss) from discontinued operations was reported herein.

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

March 29, 2026

December 28,
2025

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

$

6,047

$

18,840

Accounts receivable

1,723

2,809

Contract assets

1,183

217

Inventories

1,022

956

Prepaid expenses and other current assets

1,206

1,399

Assets of business held for disposal, net

—

2

Total current assets

11,181

24,223

Property and equipment, net

18,620

18,233

Capitalized internal-use software, net

1,210

1,117

Right of use assets, net

386

464

Intangible assets, net

330

339

Inventories, non-current

57

187

Other assets

607

241

TOTAL ASSETS

$

32,391

$

44,804

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Revolving line of credit

$

—

$

15,000

Trade payables

2,497

2,251

Accrued liabilities

2,077

1,779

Deferred revenue

78

64

Notes payable, current

1,654

1,870

Lease liabilities, current

331

321

Total current liabilities

6,637

21,285

Long-term liabilities:

Lease liabilities, non-current

32

126

Notes payable, non-current

1,467

926

Total liabilities

8,136

22,337

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued and
outstanding

—

—

Common stock, $0.001 par value; 200,000 authorized; 17,724 and 17,290 shares issued
     and outstanding as of March 29, 2026 and December 28, 2025, respectively

18

17

Additional paid-in capital

350,655

346,662

Accumulated deficit

(326,418)

(324,212)

Total stockholders’ equity

24,255

22,467

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

32,391

$

44,804

QUICKLOGIC CORPORATION

SUPPLEMENTAL RECONCILIATIONS OF US GAAP AND NON-GAAP FINANCIAL MEASURES

(in thousands, except per share amounts and percentages)

(Unaudited)

Three Months Ended

March 29, 2026

March 30, 2025

December 28,
2025

US GAAP operating income (loss)

$

(2,118)

$

(1,981)

$

(3,489)

Adjustment for stock-based compensation within:

Cost of revenue

156

95

100

Research and development

208

205

194

Selling, general and administrative

494

636

450

Adjustment for restructuring costs

11

54

—

Non-GAAP operating income (loss)

$

(1,249)

$

(991)

$

(2,745)

US GAAP net income (loss) from continuing operations

$

(2,202)

$

(2,090)

$

(3,580)

Adjustment for stock-based compensation within:

Cost of revenue

156

95

100

Research and development

208

205

194

Selling, general and administrative

494

636

450

Adjustment for restructuring costs

11

54

—

Non-GAAP net income (loss) from continuing operations

$

(1,333)

$

(1,100)

$

(2,836)

US GAAP net income (loss) from discontinued operations

$

(4)

$

(101)

$

(2,368)

Adjustment for stock-based compensation within:

Research and development

—

(32)

—

Adjustment for impairment charges

—

—

2,355

Adjustment for restructuring costs

—

87

—

Non-GAAP net income (loss) from discontinued operations

$

(4)

$

(46)

$

(13)

Non-GAAP net income (loss)

$

(1,337)

$

(1,146)

$

(2,849)

US GAAP net income (loss) from continuing operations per share,
basic

$

(0.13)

$

(0.14)

$

(0.21)

Adjustment for stock-based compensation

0.05

0.06

0.04

Adjustment for restructuring costs

—

0.01

—

Non-GAAP net income (loss) from continuing operations per share,
basic

$

(0.08)

$

(0.07)

$

(0.17)

US GAAP net income (loss) from discontinued operations per share,
basic

$

—

$

(0.01)

$

(0.14)

Adjustment for stock-based compensation

—

—

—

Adjustment for impairment charges

—

—

0.14

Adjustment for restructuring costs

—

0.01

—

Non-GAAP net income (loss) from discontinued operations per
share, basic

$

—

$

—

$

—

Non-GAAP net income (loss) per share, basic

$

(0.08)

$

(0.07)

$

(0.17)

US GAAP net income (loss) from continuing operations per share,
diluted

$

(0.13)

$

(0.14)

$

(0.21)

Adjustment for stock-based compensation

0.05

0.06

0.04

Adjustment for restructuring costs

—

0.01

—

Non-GAAP net income (loss) from continuing operations per share,
diluted

$

(0.08)

$

(0.07)

$

(0.17)

US GAAP net income (loss) from discontinued operations per share,
diluted

$

—

$

(0.01)

$

(0.14)

Adjustment for stock-based compensation

—

—

—

Adjustment for impairment charges

—

—

0.14

Adjustment for restructuring costs

—

0.01

—

Non-GAAP net income (loss) from discontinued operations per
share, diluted

$

—

$

—

$

—

Non-GAAP net income (loss) per share, diluted

$

(0.08)

$

(0.07)

$

(0.17)

US GAAP gross margin percentage from continuing operations

36.5

%

43.4

%

18.1

%

Adjustment for stock-based compensation included in cost of revenue

3.1

%

2.2

%

2.7

%

Non-GAAP gross margin percentage from continuing operations

39.6

%

45.6

%

20.8

%

QUICKLOGIC CORPORATION

SUPPLEMENTAL DATA

(Unaudited)

Percentage of Revenue

Change in Revenue

Q1 2026

Q1 2025

Q4 2025

Q1 2026 to
Q1 2025

Q1 2026 to
Q4 2025

COMPOSITION OF REVENUE

Revenue by product: (1)

New products

85

%

87

%

76

%

15

%

51

%

Mature products

15

%

13

%

24

%

32

%

(14)

%

Discontinued Operations:

New products

—

%

—

%

—

%

(100)

%

—

%

Revenue by geography:

Asia Pacific

10

%

8

%

10

%

37

%

35

%

North America

88

%

90

%

81

%

15

%

48

%

Europe

2

%

2

%

9

%

9

%

(75)

%

Discontinued Operations:

Asia Pacific

—

%

—

%

—

%

(100)

%

—

%

North America

—

%

—

%

—

%

(100)

%

—

%

Europe

—

%

—

%

—

%

(100)

%

—

%

_____________________

(1)

New products include all products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP and related professional services, and SensiML AI software as a service (SaaS) revenue. Mature products include all products produced on semiconductor processes larger than 180 nanometer. Associated royalty revenues are included within their respective device’s classification.

 

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SOURCE QuickLogic Corporation

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Technology

EARTHWORKS INDUSTRIES INC. PROVIDES MANAGEMENT CEASE TRADE ORDER UPDATE

Published

56 minutes ago

on

May 12, 2026

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VANCOUVER, BC, May 12, 2026 /CNW/ – Earthworks Industries Inc. (TSXV: EWK) (OTCQB: EAATF) (the “Company”) is providing an update with respect to its previously announced management cease trade order (“MCTO”) issued by the British Columbia Securities Commission (the “BCSC”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), as previous disclosed in the news releases of the Company dated March 19, 2026 (the “Default Announcement”) and March 31, 2026 (the “MCTO News Release”).

The Company and its auditors continue to work diligently to file the audited financial statements and related annual management’s discussion and analysis for the financial year ended November 30, 2025, as required under Part 4 and Part 5, respectively, of National Instrument 51-102 — Continuous Disclosure Obligations, and related certifications of such filings by the Company’s chief executive officer and chief financial officer as required under Part 4 of National Instrument 52-109 — Certification of Disclosure in Issuers’ Annual and Interim Filings (collectively, the “Annual Filings”). It is expected that the Company will be able to complete the Annual filings by no later than May 29, 2026.

The Company is providing this bi-weekly update in accordance with NP 12-203 and will continue to provide such bi-weekly updates until such time that it remains in default for failure to file the Annual Filings.

The Company confirms that as of the date herein, (a) there has been no material change to the information set out in the Default Announcement or the MCTO News Release that has not been generally disclosed; (b) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

About Earthworks Industries Inc.

Earthworks Industries Inc. is a publicly listed company focused on advancing innovative solutions across the materials recovery and infrastructure value chain, with an emphasis on efficiency, scalability, and long-term sustainability.

Cautionary Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has approved nor disapproved the contents of this news release, nor do they accept responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements 

Certain information contained in this release constitute forward-looking statements or information under Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “will”, “expects”, “anticipates” or variations of such words and phrases or statements that certain actions, events or results “will” occur. In particular, ‎forward-looking ‎statements in this release include statements regarding: the anticipated timing for the filing of the Annual Filings; and the ability of the Company to comply with the requirements of NP12-203. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including that the Annual Filings may not be completed in the time anticipated or allowed for by the MCTO, in which case a general cease trade order may be issued with respect to the Company’s securities. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company cautions readers of this news release not to place undue reliance on the forward-looking statements contained in this release as many factors could cause actual results or conditions to differ materially from current expectations. Additional information on these and other risk factors that could affect the Company’s operations are outlined in the Company’s continuous disclosure documents that can be found on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile. The Company does not intend and disclaims any obligation, except as required by law, to update or revise any forward-looking statements, whether because of new information, future events, or otherwise. 

SOURCE Earthworks Industries Inc.

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Technology

Oracle Names Tomislav Mihaljevic, M.D., to the Board of Directors

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May 12, 2026

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AUSTIN, Texas, May 12, 2026 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced that it unanimously elected Dr. Tomislav Mihaljevic to Oracle’s Board of Directors and increased the size of the Board to 13. The election is effective as of May 6, 2026.

Dr. Mihaljevic is the Chief Executive Officer and President, and Morton L. Mandel CEO Chair, of Cleveland Clinic, a nonprofit multispecialty academic medical center and global integrated healthcare system, a position he has held since January 2018. From 2015 to 2017, Dr. Mihaljevic served as Chief Executive Officer of Cleveland Clinic Abu Dhabi (CCAD). Prior to that, he was Chief of Staff and Chairman of the Heart & Vascular Institute at CCAD. Dr. Mihaljevic joined Cleveland Clinic in 2004 as a surgeon in the Department of Thoracic and Cardiovascular Surgery. He previously served as a director of GE HealthCare.

“Tom is one of the world’s leading healthcare executives, with deep experience managing complex clinical organizations, advancing patient care, and expanding access to high-quality healthcare around the world,” said Mike Sicilia, Oracle Chief Executive Officer.

Clay Magouyrk, Oracle’s Chief Executive Officer, added “Tom’s perspective will be invaluable as Oracle continues to help healthcare organizations use technology to improve outcomes for patients and providers.”

“Tom’s leadership at Cleveland Clinic gives him a unique understanding of the challenges facing healthcare systems globally. Oracle, along with its customers and shareholders, will benefit from Tom’s experience at the intersection of healthcare, technology and risk management,” said Bruce Chizen, Chair of Oracle’s Nomination and Governance Committee.

Members of Oracle’s Board of Directors serve one-year terms and will next stand for election at the company’s annual meeting of stockholders in November 2026.

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks

Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

“Safe Harbor” Statement:  Statements in this press release relating to Oracle’s future plans, expectations, beliefs, intentions, and prospects are “forward-looking statements” and are subject to material risks and uncertainties. A detailed discussion of these factors and other risks that affect our business is contained in Oracle’s Securities and Exchange Commission (SEC) filings, including our most recent reports on Form 10-K and Form 10-Q under the heading “Risk Factors.” These filings are available on the SEC’s website or on Oracle’s website at http://www.oracle.com/investor. All information in this press release is current as of May 12, 2026, and Oracle undertakes no duty to update any statement in light of new information or future events.

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SOURCE Oracle

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